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Asian shares on edge for China data, Fed speakers
  + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) wobbled between losses and gains and was last up 0.1%. China is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. Very much on investors' mind was the uncertainty about lifting the U.S. debt ceiling and the return of bank worries. The yield on benchmark 10-year notes was little changed at 3.4588%, after rising 6 basis points on Friday, and two-year yields eased 2 basis points to 3.9830%, having also jumped 10 basis points in the previous session. U.S. crude futures eased 0.5% to $69.71 per barrel, while Brent crude futures were down 0.6% to $73.74 per barrel.
Asian shares braced for China data, Fed speakers
  + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
Investors are keenly awaiting China's central bank rate decision on Monday. Market watchers polled by Reuters expect the medium-term policy rate to be left unchanged despite disappointing data last week that fuelled concerns about a global slowdown. The country is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. Very much on investors' mind was the uncertainty about lifting the U.S. debt ceiling and the return of bank worries. Oil prices were trying to find a footing after tumbling nearly 2% last week on demand concerns.
Major economic data from China and Japan, and a central bank rate decision from the Philippines could be the main regional drivers for Asian markets this week, with investors growing increasingly nervous about the U.S. and global macro outlook. These were some of the issues discussed at the three-day meeting of G7 finance leaders that concluded on Saturday. The MSCI World index fell 0.5% - not a big deal, perhaps, but the second weekly decline in a row and the steepest since the U.S. banking crisis blow-up two months ago. Japan's first-quarter GDP figures will be released on Wednesday, and perhaps more importantly, the latest inflation numbers are out on Friday. Core inflation is far higher than the Bank of Japan would like and is expected to have re-accelerated to 3.4% in April.
I grew up watching YouTube beauty gurus go on brand trips, and now it's my job to do the same thing. I started creating beauty content for the free makeup, but I found a full-time career instead. So far, I've been to Florida, Turks and Caicos, and more on brand trips with beauty companies. While most believe the whole point of brand trips is to produce content, some companies invite us on trips with no strings attached. In your daily life it's easy to pace yourself, but there's pressure to optimize your time on brand trips.
CEOs are changing their corporate strategies more frequently for many reasons. Some CEOs didn't do the necessary medium- and long-term planning when they made their original decisions, and now they're being forced to backtrack. A new, lightning-fast pace of businessThe rapidly changing business environment makes one thing clear: For CEOs, the day-to-day marathon of running a company feels much more like a sprint. The average compensation in 2021 for CEOs of the top US companies was 399 times that of the average worker. Changing a strategy is one thing, but how a CEO communicates that change is another — particularly because these pivots are likely to happen more frequently.
UPINGTON, South Africa, May 11 (Reuters) - When she was a girl in South Africa's Northern Cape, Katrina Esau stopped speaking her mother tongue, N|uu, after being mocked by other people and told it was an "ugly language". Now at age 90, she is the last known speaker of N|uu, one of a group of indigenous languages in South Africa that have been all but stamped out by the impacts of colonialism and apartheid. "We became ashamed when we were young girls, and we stopped speaking the language," Esau told Reuters. Instead she spoke Afrikaans, the language promoted by South Africa's white minority rulers. [1/5] Ouma Katrina Esau, the last known fluent mother-tongue speaker of the indigenous N|uu language is seen during the ceremony where she was honoured with an honorary Doctor of Literature degree by the University of Cape Town, in Cape Town, South Africa, March 29, 2023.
Starbucks (SBUX) and Qualcomm (QCOM) have also flagged uncertainties related to the country, which is a top market for both. Beijing abandoned its zero-Covid policy in December and scrapped longstanding quarantine requirements for international arrivals in January, ending restrictions that had isolated its economy. The welcomed, if abrupt, policy U-turn led to hopes that China could help propel global growth as it had before the pandemic. The idea was that as soon as the zero-Covid policy would be over, the Chinese households and consumers would just go berserk. Starbucks warned last Tuesday that sales growth in China was starting to cool — and likely would continue that trajectory over the next six months.
Wall Street and world markets cheered below-consensus U.S. inflation on Wednesday, but they may not be so accommodating if Chinese inflation on Thursday also undershoots forecasts. On the other hand, inflation in China is already extremely low and a sign that the world's second largest economy is struggling to generate demand, momentum and sufficient growth. Charlie Bilello, chief market analyst at Creative Planning, on Wednesday tweeted a list of 34 countries' annual consumer price inflation rates. China's 0.7%, the lowest since September 2021, was comfortably the weakest of them all, by almost two full percentage points. Producer price inflation figures will also be released on Thursday.
The 2023 CNBC Disruptor 50: How we chose the companies
  + stars: | 2023-05-09 | by ( David Spiegel | ) www.cnbc.com   time to read: +5 min
The last Disruptor 50 company to go public was Gojek, which debuted on the Indonesia Stock Exchange more than a year ago. The last Disruptor 50 IPO in the U.S. market, Nubank , happened on December 9, 2021. Here's how we chose them:All private, independently owned startup companies founded after Jan. 1, 2008, were eligible to be nominated for the Disruptor 50 list. The 2023 list also features the first founder to have two companies make the Disruptor 50 (Rodney Williams of SoLo Funds). Imagine what that number could have been a year or two ago …Special thanks to the 2023 CNBC Disruptor 50 Advisory Council, who again offered us their time and insights.
Editor’s note: Kent Sepkowitz is a physician and infectious disease expert at Memorial Sloan Kettering Cancer Center in New York. CNN —At long last, the Covid-19 pandemic has entered its whimper phase. Last week, the World Health Organization decided to end the Covid-19 global health emergency. The US public health emergency is scheduled to end on Thursday, and beginning the following day, vaccination against Covid-19 will no longer be required for non-US travelers entering the States. Infectious diseases don’t ever really go away; they just change a little, then change some more till one day, they return bigger and fiercer than ever.
May 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The regional economic data calendar on Monday is light, with the final reading of Japanese purchasing managers index and Taiwanese trade for April the main releases. Federal Reserve Chair Jerome Powell, for one, is very optimistic: "It's possible that this time is really different. Technology giant JD.com (9618.HK) and China's largest chip foundry Semiconductor Manufacturing International Corp (0981.HK) both release first-quarter earnings on Thursday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Priyanka Jain works in communications at Arup, a British design firm with flexible work options. Before moving around her work schedule, her side hustle felt like an "afterthought." Knowing Arup was flexible with work in that way, I decided to pitch the idea of a different work schedule to my boss. I felt like I had all this creativity, all these ideas for my business, but I couldn't juggle it with my work schedule at the time. Because I've seen flexible work done well, I would think twice if there was a company that had a very rigid structure.
Is that…leather?” Some version of this befuddled inner monologue ran through many editors’ heads as Kate Moss sauntered down Bottega Veneta’s spring 2023 runway in Milan. From a distance, they were unmistakably denim and flannel, respectively. Creative director Matthieu Blazy ’s sartorial trickery gave front-rowers a wow moment but was perhaps too subtle to dazzle those streaming the show on Instagram. That outfit (see the shirt above, and Kendall Jenner wearing a version of the look below) embodies an aesthetic shift that’s sweeping the fashion industry. Instead of buying trendy frippery to flaunt in social-media posts, stylish sorts are craving wearable clothes with subtle details like hand-stitched hems, carefully sculpted silhouettes or luxe textures—details that they, and anyone within a 5-foot radius, can appreciate in the moment.
When cities and states rolled back lockdown rules, many implemented new orders for restaurants to help with contact tracing, such as requiring customers to book tables in advance. As a result of those pandemic-fueled changes, restaurants and the companies that help them book their tables are targeting big spenders with premium reservation options to drive higher sales. About two-thirds of SevenRooms' restaurant clients use its software to promote special experiences or sell upgrades when customers book reservations. Page said the move toward premium restaurant reservations can partially explain why it feels like it's so much more competitive to book a table in advance these days. "I kind of don't like the whole 'Disney FastPass line' of restaurant reservations," he said.
I've seen that firsthand, since my mom started working on cruise ships when I was 4 years old. Around the same time, I was visiting Singapore when my mom's cruise ship docked there. There are plenty of perks of working on a cruise shipI don't pay for housing. But working on a cruise ship isn't all positiveIt can be difficult, because working on a cruise ship means you're never not at work. I do love working on a cruise shipI also love sharing it to my 500,000 TikTok followers.
BEIJING/SHANGHAI, May 5 (Reuters) - Tesla Inc (TSLA.O) delivered 75,842 China-made electric vehicles (EVs) in April, down 14.7% from March, data from the China Passenger Car Association (CPCA) showed on Friday. The figure was a huge jump from a year earlier, when the city of Shanghai - where Tesla has a factory - was in COVID-19 lockdown and the company delivered only 1,512 China-made Model 3 and Model Y cars in the world's largest auto market. Local rival BYD Co (002594.SZ), with its Dynasty and Ocean series of EVs and hybrids, sold 209,467 vehicles in April, CPCA data showed, up 1.6% from March. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh Editing by Jamie Freed and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
The suspect, Deion Duwane Patterson, 24, was armed when he was arrested Wednesday evening, Cobb County Police Chief Stuart VanHoozer said Thursday. “Just be careful.”A mother of two was killedAmy St. Pierre was killed in the Atlanta shooting, medical examiners confirmed. Generous supporter of worthy causes, she was the social conscience of our family.”The family of Amy St. Pierre, who was killed in the Midtown Atlanta shooting, said she was their pride and joy. On Friday, two of the victims were still in critical condition in the ICU, said Robert Jansen, chief medical officer at Grady Health System. They need help.”‘The impact … is something you can’t imagine’The rush of shooting victims who arrived at Grady Memorial Hospital is not uncommon, the chief medical officer said.
ATLANTA, May 3 (Reuters) - At least one person was killed in a lunchtime shooting at a medical building in a busy commercial area of Atlanta, and the suspected gunman was still at large, police said on Wednesday. ET in the Midtown section of the city, the Atlanta Police Department said in a tweet. Authorities identified the suspected shooter as 24-year-old Deion Patterson and said he was armed and dangerous. Atlanta Mayor Andre Dickens advised people in the area to shelter in place, and police cordoned off some streets in Midtown. Atlanta Public Schools said several schools in the area would operate on external lockdown for the rest of the day as a precaution.
But for consumers, the lengthy spell in the crossfire of persistently high prices and rising interest rates has taken its toll. Inflation-adjusted consumer spending was flat in March, marking the fourth time in five months that expenditures held steady or declined. “Further deterioration in the job market — the last remaining leg propping up the consumer — is bound to accelerate the downshift in consumer spending in the coming months. Private label growth is one of six indicators that Allison tracks to determine a consumer recession. “If you ask the economists, ‘Are we in a recession?’ they’re going to say ‘No, we’re not in a recession,’” he said.
Sam Altman, the CEO of OpenAI, spends a lot of time thinking about risk, especially as it relates to AI. One investor friend told Insider that Altman became even more fixated on delaying death when his father died in 2018. One investor friend told Insider that Altman "says we vastly underestimate risk in society." The investor friend told Insider that urgency grew when Altman's father, a real-estate developer, died in 2018. "I don't think anyone can lose your dad young and wish he didn't have more time with him," Altman told Insider.
The address belongs to Northside Family Medicine and Urgent Care. The Atlanta Journal-Constitution reported that officers had responded to the facility. Northside Hospital said on Twitter that it was cooperating with the authorities “following the shooting at our midtown #Atlanta location.”The hospital added, “This tragedy is affecting all of us, and we ask for patience and prayers at this time.”The police issued a public safety alert for people in the area. Atlanta Public Schools said “several” schools were in lockdown as a precaution. The police shared initial images from security cameras inside the building that showed a man wearing a mask, a gray hooded sweatshirt, dark pants and a cross-body bag.
Slowing growth will crash European stock party
  + stars: | 2023-05-02 | by ( Francesco Guerrera | ) www.reuters.com   time to read: +6 min
LONDON, May 2 (Reuters Breakingviews) - European shares have been on the rise for seven months, outshining their U.S. counterparts, and are now just 6% below their record high. Luck played a part in the recent European surge. Natural gas prices have fallen more than 80% since their August peak, boosting economic growth and reducing companies’ costs. Analysts currently expect a 0.4% fall in European companies’ earnings per share (EPS) in 2023, according to Barclays. European investors have had an unusually enjoyable, and profitable, ride.
This time last year, Shanghai — China’s capital of fashion and luxury — was in the throes of a ruthlessly enforced Covid lockdown. The city’s glittering high-end malls and avenues lined with flagship stores stood practically empty. Ms. Zhang, who works for a consulting firm, used to buy six handbags a year. “I change my handbag every day,” Ms Zhang added. “I felt that everything was meaningless during the Shanghai lockdown, so we should enjoy the present moment in time.”
Grocery app Getir in talks to take over German rival Flink - FT
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: +1 min
May 1 (Reuters) - Turkish delivery app Getir is in talks to take over German rival Flink in a key step toward consolidation in Europe's food delivery market, where companies are battling a slowdown after COVID-19, the Financial Times said on Monday. There is no guarantee of an agreement being reached, however, said the paper, which cited people familiar with the matter. Getir and Flink did not immediately respond to a Reuters request for comment. Flink is also in talks to raise funding of about $100 million from existing investors, for a valuation of more than $1 billion, the paper added. In a $1.2-billion deal last December, Getir bought German grocery company Gorillas, merging two of Europe's remaining companies in Europe offering groceries in minutes.
Unique fossil site discovered in Wales reveals early life
  + stars: | 2023-05-01 | by ( Katie Hunt | ) edition.cnn.com   time to read: +3 min
CNN —Exceptionally well-preserved fossils of tiny worms, starfish, sponges, barnacles and other creatures with no modern parallel discovered at a quarry in Wales are painting a picture of life on Earth 462 million years ago. The fossils come from a period of time known as the Ordovician when life was becoming more complex. Most of the 170 animals discovered so far from the fossil site were tiny (1-5 millimeters) and many were either completely soft-bodied when alive or had a tough skin or exoskeleton. It’s a completely unique site,” said Lucy Muir, study coauthor and also an honorary research fellow at Amgueddfa Cymru Museum Wales. A crowdfunding project to buy microscopy equipment helped them identify the animals and understand the importance of the site.
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