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☆ Airport Authority Hong Kong discusses screening upgrades
▼ + stars: | 2024-07-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAirport Authority Hong Kong discusses screening upgradesSteven Yiu, executive director of airport operations at the Airport Authority Hong Kong, discusses new security screening measures at the Hong Kong International Airport.

Persons: Steven Yiu Organizations: Email Airport Authority Hong Kong, Airport Authority, Airport Authority Hong Kong, Hong Kong International Airport Locations: Airport Authority Hong

☆ Hong Kong Mafia (triad) member rates 12 Mafia scenes in movies and TV
▼ + stars: | 2024-07-02 | by ( Margaret Guzman | David Ibekwe | ) www.businessinsider.com time to read: +1 min

Jimmy Tsui, a former member of the Sun Yee On triad in Hong Kong and Tung On in New York City's Chinatown, breaks down 12 Chinese organized-crime scenes in movies and TV shows based on realism. Tsui also looks at scenes in New York City's Chinatown, such as the rivalry between two Tong associations in "The Corruptor," with Mark Wahlberg and Chow Yun-fat; and the gambling-house scene in "Year of the Dragon." Tsui also explains the rituals and hierarchy of the triads, such as the initiation-ceremony scene in "Election" (2005) and the voting scene in "The Brothers Sun" E7, starring Michelle Yeoh. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Persons: Jimmy Tsui, Tsui, Jackie Chan, Chris Tucker, Chow Yun, Leslie Cheung, Jet Li, Mel Gibson, Danny Glover, Leonardo DiCaprio, Matt Damon, Jack Nicholson, Jason Statham, Tony Leung, Andy Lau, Mark Wahlberg, Michelle Yeoh Organizations: Sun, Irish, San, Hong Kong, Infernal Affairs, Business Locations: Hong Kong, Tung, New York, Chinatown, United States, San Francisco

☆ How a former Millennium exec's new $1 billion hedge fund is standing out from a sea of multistrategy choices
▼ + stars: | 2024-07-01 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Arrowpoint, a $1 billion multi-strategy fund from former Millennium exec Jonathan Xiong, launched Monday. AdvertisementSome of the world's biggest hedge fund investors are backing former Millennium executive Jonathan Xiong's new Arrowpoint Investment Partners. The Asia-based multistrategy fund is launching with $1 billion and has secured big-name allocators, including Blackstone, Canada's largest pension, and Singapore's sovereign wealth fund Temasek. Globally, the biggest multistrategy managers like Citadel and Xiong's old firm Millennium continue to crowd out smaller competitors by poaching talent and hoovering up assets. Locally, the Asian hedge fund market has newcomers entering the fray and longtime players beefing up their rosters.

Persons: Jonathan Xiong, —, Jonathan Xiong's, beefing Organizations: Service, Arrowpoint Investment Partners, Blackstone, Temasek, Citadel, Business Locations: Singapore, Hong Kong, Asia

☆ China’s ‘military readiness’ questioned with dramatic downfall of two defense ministers
▼ + stars: | 2024-07-01 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

At the height of their careers, former defense ministers Li and Wei often struck a tough tone before the world’s top military officials. Former Defense Ministers Li Shangfu and his predecessor Wei Fenghe have both been expelled from the Communist Party over corruption allegations. Most of the generals dismissed or disappeared without explanation last year were linked to the Rocket Force or military equipment, including Li and Wei. An engineer by training, the 66-year-old spent decades launching rockets and satellites in southwest China before being promoted to the PLA headquarters to deal with military equipment procurement. “The gun barrel must always be held in the hands of those who are loyal and reliable to the party,” Xi told the PLA elites.

Persons: Hong Kong CNN —, Xi, Li Shangfu, Wei Fenghe, Xi Jinping, Li, Wei, “, James Char, ”, Former Defense Ministers Li Shangfu, Wei’s, Joel Wuthnow, ” Wuthnow, ” Char, Weidong, Char, Jason Lee, Xu Caihou, Guo Boxiong, Xu, Guo, Wuthnow, Jiang Zemin, haven’t, ” Wei, Li “, Bill Bishop, ” Xi Organizations: Hong Kong CNN, Communist Party, People’s Liberation Army, PLA, Rajaratnam, of International Studies, Former Defense Ministers, AP, Reuters, Rocket Force, Development Department, Second Artillery Corps, Pentagon, National Defense University, CCP, China’s Naval University of Engineering, Central Military Commission, Military, People's, CMC, Communist Locations: China, Hong Kong, Taiwan, United States, Singapore, People's Republic of China, Beijing, Yan’an

☆ China PMI: No end in sight for uneven economic story
▼ + stars: | 2024-07-01 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Factory activity among China’s private firms expanded at the fastest pace in three years, a private gauge showed Monday, suggesting healthier domestic and international demand for Chinese goods. The Caixin manufacturing Purchasing Managers’ Index (PMI) rose to 51.8 in June, up from 51.7 in May, according to a statement from S&P Global, which compiled the survey. The Caixin survey covers more export-oriented and consumer-related companies. The official PMI, however, is tilted more towards manufacturers that produce industrial materials — including steel, cement, and chemical — making them more vulnerable to a slowdown in fixed-asset investments. Analysts believe that the current data reflects an economic reality characterised by strong exports and consumption, but softer investment.

Persons: Goldman Sachs, ”, Wang Zhe, ” Wang Organizations: Hong Kong CNN — Factory, P, National Bureau of Statistics, PMI, Caixin Insight, European Union, EU Locations: Hong Kong, Siyang County, Suqian City, Jiangsu, China, European, United States

That's despite respondents from both countries taking the most vacation days — 27 days and 29 days, respectively — in the survey. However, only 53% of Japanese said they feel "vacation deprived" compared to 65% of Americans, it showed. Expedia's report indicates that feeling "vacation deprived" has less to do with the actual time off one takes, and more to do with cultural mores around work and free time. Wasted vacation daysDespite most workers indicating they feel vacation deprived, respondents from nearly every location admitted to letting some of their annual leave lapse. "In 2024, 15% of Hong Kongers plan on taking 31 vacation days, exceeding the average allotted 25.5 days," said Hudson.

Persons: That's, Christie Hudson, Hudson, Hong Kongers, Hong Kong, Hong, Japan aren't Organizations: Expedia Locations: Japan, United States, France, Germany, Hong, Hong Kong

☆ U.S. law firm Dechert considering shuttering offices in Hong Kong, Beijing, Reuters reports citing sources
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: +1 min

U.S.–founded law firm Dechert is considering closing its offices in Hong Kong and Beijing, becoming the latest foreign firm to scale back in Greater China, two people said, amid a prolonged capital market downturn and growing Sino-U.S. tensions. U.S.-founded law firm Dechert is considering closing its offices in Hong Kong and Beijing, becoming the latest foreign firm to scale back in Greater China, two people said, amid a prolonged capital market downturn and growing Sino-U.S. tensions. Dechert has more than 20 employees in its Hong Kong office, 14 of whom are lawyers, including four partners, according to its website and one of the people. Its Beijing office houses only three lawyers, as per the website. There are no other China offices listed on the global law firm's website.

Persons: –, Dechert Locations: Hong Kong, Beijing, Greater China, U.S, China, Singapore, Asia

☆ I spent $38,000 to take my toy poodle on a private jet to Japan. I want to plan a trip for my other dogs next.
▼ + stars: | 2024-06-30 | by ( Faye Bradley | ) www.businessinsider.com time to read: +7 min

The second trip came with a significantly higher price tag of $38,000. Gladys TsoiOur first trip to Japan included two other poodle friends, while our second trip in April 2024 was a family affair with my parents and brother. For the second trip, we opted for a private jet both ways. Gladys TsoiOur second trip, which took place in April, lasted 8 days and covered 10 prefectures. Our road trip took us through Fukuoka, Oita, Yufuin, Kumamoto, Beppu, Nagasaki, Yanagawa, Sasebo, and Itoshima.

Persons: —, Gladys Tsoi, we'd, splurging, Hershey, Milo, mutt, Mount Fuji, Tsoi, Mount Aso, I'm Organizations: Service, Business, Hong Kong International Airport, Hershey, Japan, Mount, Korean Air, Japan Airlines Locations: Hong Kong, Japan, Malibu, Tokyo, Hakuba, Osaka, Kyoto, Nara, Izu, Seoul, Inumo Shibakoen, Shibuya, Mount Omuro, Kyushu, Fukuoka, Oita, Yufuin, Kumamoto, Beppu, Nagasaki, Yanagawa, Sasebo, Nampuro, Milo

☆ Morgan Stanley says this is the stock to play China's EV industry consolidation
▼ + stars: | 2024-06-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Morgan Stanley has resumed coverage of Hong Kong-listed Geely with an overweight rating on expectations the Chinese automaker can weather macro and industry uncertainties. "We see Geely as a beneficiary of market consolidation," Morgan Stanley Asia equity analyst Tim Hsiao and a team said in a June 25 report that resumed coverage of the stock. Hangzhou-based Geely entered China's auto industry in 1997 and is known for acquiring Volvo in 2010. But the company raised the share of its new energy vehicles to 32% so far this year, higher than peers such as Great Wall Motor, for which the share is 23%, the Morgan Stanley analysts pointed out on Tuesday. The Morgan Stanley analysts on Tuesday set a price target of HK$11.20 ($1.43), about 27% above where shares closed Friday.

Persons: Morgan Stanley, Tim Hsiao, Geely, PHEV, Morgan Stanley's, BYD, bode Organizations: U.S, European Union, Lynk, Volvo, HK Locations: Hong Kong, Morgan Stanley Asia, Hangzhou, New York, China, EVs

☆ Warren Buffett's Berkshire Hathaway raked in billions from BYD, the China EV maker Munger called a 'damn miracle'
▼ + stars: | 2024-06-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Sixteen years ago, Warren Buffett's Berkshire Hathaway unveiled a $230 million investment in Chinese electric vehicle startup BYD , sparking questions about the conglomerate's unusual foray into early-stage technology. Lately, Berkshire has been selling down the position, ringing the register after earning billions of dollars during its hyper-growth phase. Berkshire trimmed its BYD stake to 5.99% as of June 19 from 7% just a few days earlier , according to a Hong Kong Stock Exchange filing . It has since become the top car brand in China, as well as a major producer of EV batteries. "From a standing start at zero and with very little capital, he rapidly was able to create the best-selling single model in China," Munger said.

Persons: Warren Buffett's Berkshire Hathaway, Charlie Munger, —, Munger, Wang Chuanfu, he's, Buffett, Thomas Edison, Bill Gates, BYD, Tesla, Li Lu Organizations: Hong Kong Stock Exchange, Oracle, EV, Elon, Seattle, Capital, Berkshire Locations: China, Berkshire, Munger, Omaha, Shenzhen, Hong Kong

☆ Warren Buffett once went to China with Bill Gates — and lived on burgers, fries, and Cherry Coke
▼ + stars: | 2024-06-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Luckily his close friends, Microsoft cofounder Bill Gates and his then-wife Melinda, went to great lengths to ensure he wouldn't starve. "To his delight he was served course after course of his french fries —even for dessert," Schroeder reported. When they stopped at restaurants for lunch and dinner, Buffett was again served burgers and fries while the others chowed down on Chinese food. During a scenic private cruise, Buffett, Gates, and Gates' dad played bridge. "Buffett towed the Gateses straight to McDonald's to buy hamburgers in the middle of the night," Schroeder wrote.

Persons: —, Warren Buffett, Bill Gates, Melinda, Alice Schroeder, Buffett, Schroeder, Cherry Coke, Rick Wilking, Gates Organizations: Service, Business, Berkshire Hathaway, Reuters Locations: China, Sichuan, Champagne, gulps, Berkshire, Hong Kong

☆ A third of sharks are threatened with extinction. Here’s what one man is doing to help
▼ + stars: | 2024-06-28 | by ( Amy Chillag | ) edition.cnn.com time to read: +7 min

The International Union for the Conservation of Nature reports 35% of all shark species are threatened with extinction. The primary reason is overfishing; shark meat and fins are highly sought. That research has helped expand the number of shark species now regulated by CITES. Cardeñosa said when he got started in the field, there were only five or six shark species regulated by the CITES agreement. How you can help sharksOne of the easiest ways to help sharks and all marine life is to try to consume seafood from sustainable sources.

Persons: Florida CNN — Diego Cardeñosa, ”, Cardeñosa, Demian Chapman, Isaac Lawrence, they’ve, Diego Cardeñosa, Diego Cardeñosa Cardeñosa, ” Cardeñosa, “ Organizations: Florida CNN, International Union for, Nature, Fisheries, ”, Florida International University, International Trade, Fauna, FIU, Getty, Criminal Investigation, Interpol, CITES, Aquarium Seafood, FIU Foundation Locations: Miami, Florida, Colombia, Europe, South America, Hong Kong, Latin America, AFP, Sri Lanka, Spain, Belize, Panama, Ecuador, Peru, Brazil, China, Eastern, Baja , California, Central, Monterey

☆ Wall Street praises Eaton's AI bona fides. But don't overlook our other data center play
▼ + stars: | 2024-06-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer described the PCE report as "very good," representing an encouraging sign that the central bank's fight against inflation has been working. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Donald Trump's, Friday's, there's, Raymond James, Eaton, Jim Cramer's, DOV, ETN Organizations: CNBC, Federal Reserve, Nasdaq, Dow, Apple, Vision, Nvidia Locations: China, Hong Kong, Japan, U.S, Dover

☆ Younger generations of Asians are spending big on art
▼ + stars: | 2024-06-28 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +4 min

Younger, wealthy shoppers in Asia are splashing their cash on art, according to a longtime collector and senior auction house executive. Chen Yongnuo | China News Service | Getty ImagesAnd, while the size of the global art market fell 4% last year to around $65 billion, according to the Art Basel & UBS Art Market Report 2024, sales in China rose by 9% in 2023, overtaking the U.K. as the world's second-largest art market. For Sotheby's, the rise in younger buyers is driven in part by an increase in online activity. "The definition of digital art nowadays has been expanded from simply photography to video art to NFTs to AI-generated art," she told CNBC's "Art of Appreciation." "With the younger generations becoming more and more prominent in the market ... digital artists ... will be the group of artists getting more attention," Siyang-Le added.

Persons: Nicolas Chow, Gen X, we've, X, Chow, CNBC's, Z, Gen, Yoshitomo Nara, Chen Yongnuo, Clare McAndrew, Angelle, Mak2, Li Zhihua Organizations: …, —, Art Basel, UBS Survey, China News Service, UBS Art, Arts Economics, Survey, Art, CNBC's, Getty Locations: Asia, Shanghai, millennials, Christie's Hong Kong, Sotheby's Hong Kong, China, Hong Kong, Art Basel Hong Kong

☆ Monaco is the world's most expensive place to rent. A monthly budget of $30K will get you a 1,200-square-foot apartment.
▼ + stars: | 2024-06-27 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Monaco is the world's most expensive residential rental market, according to Knight Frank. While a $30,000 budget would only get you a modest two-bed apartment, per The Wall Street Journal. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMonaco is the world's most expensive luxury rental market, according to analysis provided to The Wall Street Journal by global real estate agency Knight Frank. According to the analysis, the starting price in Monaco to rent a 1,100-square-foot apartment is 36% higher than in Hong Kong, the second most expensive city, followed by Singapore and London.

Persons: Knight Frank, — Organizations: Monaco, Street, Service, Wall, Business Locations: Monaco, Hong Kong, Singapore, London

☆ Thailand is now the Myanmar junta’s favored banking destination as military attacks ramp up, UN expert says
▼ + stars: | 2024-06-27 | by ( Helen Regan | Kocha Olarn | ) edition.cnn.com time to read: +5 min

Hong Kong/Bangkok CNN —International banks are playing a significant role in the Myanmar military junta’s ability to carry out its systematic and deadly assault on its people, a new United Nations-backed report has found. Athit Perawongmetha/ReutersThe Thai connectionSingapore-based entities were Myanmar’s third largest source of weapons and military materials. In 2022, Singapore-based banks facilitated more than 70% of the junta’s purchases passing through the banking system. Looking for other financial institutions, the junta found neighboring Thailand. “Our banking and financial institutions follow banking protocols as any major financial hub.

Persons: Tom Andrews, ” Andrews, Banks, ”, Athit Perawongmetha, “ Organizations: Bangkok CNN — International, United Nations, UN, Administration Council, SAC, “ Banking, Military Junta, States, Karen National Liberation Army, Siam Commercial Bank, CNN, Thailand’s Ministry of Foreign Affairs, Economic Bank Locations: Hong Kong, Bangkok, Myanmar, Singapore, Myawaddy, Thailand, Thai, Siam

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

And they were everywhere, although, naturally, New York City was a magnet, as it has always been for L.G.B.T.Q.+ people looking for a place in which they can be themselves. New York City was where you lost your soul, and we wanted to be closer to the earth. I wore an eight-and-a-half-foot-tall Statue of Liberty costume to the Easter Parade in New York City, and Kirsten came along with me. By the time I turned 30, I’d been telling people I was older for years, because I’m not the type to bemoan the loss of my youth. Going to New York felt like this moment of emerging to a wider audience, and then I started to travel a lot.

Persons: André De Shields, Lady Bunny, Michael R, Jackson, Juliana Huxtable, Wong, J.D, Samson, Pat Oleszko, it’s, —, John Rechy, ”, Danez Smith, Trump, he’d, “, Jenna Lyons, Avram Finkelstein, Joe Mantello, …, Catherine Opie, you’re, Willie Norris, “ I’d, It’s, you’ve, ” — Mark Harris Read, De Shields, Justin French, Chuck Ashley, Anthony Cotsifas, William F, Robert O’Hara’s, Hermes, — Max Berlinger Jenna Lyons, Antonio Lopez, Jenna Lyons’s, Grace Jones ”, Juan Ramos, Antonio Lopez’s, Grace Jones, Tina Chow, Marisa Berenson, Pam Anderson, That’s, — Jason Chen Jayne County, Jayne County, Gus Stewart, Billy Idol, Wayne County, — M.B, Bill T, Jones, Arnie, Arnie Zane, Zane, Keith Haring, Lois Greenfield, Jack Mitchell, Peggy Jarrell Kaplan, Gertrude Stein, Alice B, we’d, Bill, Arnie ”, I’m, — Juan, Norris, Yael Malka, Tomas Abad, West, Black, I’d, — Colleen Hamilton B.D, New York’s Eugene, . Wong, David Henry Hwang’s, Richie, wasn’t, Wayne Barker, — John Wogan Edmund White, Edmund White, Horatio, Leonard Fink’s “, Barbara Confino, Leonard Fink, Joseph Rodriguez, Bleecker, You’d, Gosh, Michael Snyder Pat Oleszko, Chichi, Kirsten, who’d, she’d, — C.H, Brian Michael Smith, Gay, Smith, Kiki Ball, Josue Infante, Skyler Cruz, Jamison, — J.A.R, Agnes Denes’s “, Don Yowell, Finkelstein, Agnes Denes, Leslie Tonkonow, Don, Agnes Denes’s, JD Samson, Sia, Mark Hunter, Anthony Cotsifas I’d, Johanna Fateman, Tigre, Michael O’Neill, Obama, might’ve, — Kate Guadagnino Kristen Kish, Kish, Suzanne Kreiter, David Moir, Bravo, isn’t, — J.W, Stephen Spinella, Mantello, Joan Marcus, Photofest, Tony Kushner’s, Louis Ironson, Milton Glaser, he’s, David, Marshall Grant, Joe Pitt, Walter, Awards, Stephen, ” —, Freedia, Devon Hurst, Sissy Nobby, Barack Obama’s, Lyle Ashton Harris, Big, Bounce, ” — M.B, Thom Browne, Browne, Los Angeles’s Chateau Marmont, Malcolm Venville, Paul Fortune, Michèle Lamy —, — J.C, Catherine Opie’s “, Opie, Ian, Lehmann Maupin, Eileen Myles, Jenny Shimizu, I’ve, Nicole Acheampong Danez Smith, Juan Cordero, ” Womp, They’d, hookups, Who’s, We’ve, You’re, J.A.R, Linda Simpson, India, Little Louie Vega, who’s, — K.G, Alexander Chee, Alexander Chee’s, Marguerite Duras’s “, Jeongneung, King Jungjong, Eric McNatt, Chris Chee, — M.S, Sam Jay, Jay, Jonah, Kumail ”, hadn’t, K.G, Phillip Lim, Lim, Tourmaline, Sylvia Rivera, Luce Capco Lincoln, York’s, We’d, Marsha P, John Cameron Mitchell, Larry Kramer, Mitchell’s, Mitchell, Martha Swope, Billy Rose, Mark Tusk, ” Kramer’s, Larry, Ned Weeks, Ned, “ Hedwig, J.W, Joerg Lohse, Reena, there’s, Matt Bomer, Bomer, Simon Halls, Neal Caffrey, Tony Kushner, Terrence McNally —, — I’d, Hollywood, Wu Tsang, Neil Rasmus, Wildness, ’, Wildness ”, Roxane Gay, Mueller, Brandon Williams, Donna Gottschalk, Donna Gottschalk’s “, Duchess, Galerie Marcelle Alix, goddamn, Coco Romack Michael R, Aaron Kinney, Nova, “ I’m, Bob Damron’s, Sgt, Shirley, Waldorf, Harold’s, Jean ] Genet, Marcel, Proust Organizations: Pride, Stonewall, West, America’s, ACT UP, San, Playwrights Horizons, Odeon, New York’s TriBeCa, Electric, Getty, Police, Billy, New York Live Arts, Keith Haring Foundation, BAM Hamm, Liberation, Brooklyn Liberation, Brooklyn Museum, Fort, New York’s, New York’s Eugene O’Neill Theatre, Broadway, Equity, LGBT Community Center, Fulbright, Mudd, New, Bisexual, Transgender Community, Center, Transgender Community Center, “, Maxwell, Museum School, Farmers, Seattle, Boston Globe, Travel, New York Times, Rancho Mirage, Gay, Caesar’s, FEMA, Yale, York’s Webster Hall, Masters, Records, Pyramid, Work, ACT, Carpenters, Seymour, Edinburgh, Atlanta —, Ninja, Huntington, New York, Lesbian, Equal, Billy Rose Theatre Division, The New York Public Library, The New York Times, USA, Children’s Hospital of Los, MoMA, Whitney Biennial, University of Nebraska, Alamy, HarperCollins, of Engineering, Google, Division, Astor, Tilden Foundations, Pershing, University of Southern, Pershing Square Locations: New York, Berlin, “, America, San Francisco, Baltimore, New York’s, New York City, California, Atlanta, Europe, Wayne County, Dortmund, Germany, London, Amsterdam, Rotterdam, Rockland County, N.Y, ’, I’m, Brooklyn, West Dakota, Fort Greene, New, Leonard Fink’s “ Bars, Street, Rome, —, Aspen, Colo, Copenhagen, Danish, Peru, Los Angeles, Agnes Denes’s “ Wheatfield, Downtown Manhattan, North Moore, TriBeCa, Hoboken, N.J, Lower Manhattan, Manhattan, Boston, Williamsburg , Brooklyn, Vinnie’s, Bedford, Austin , Texas, Copley, Menton, Asian American, York, New Orleans, Houston, Los Angeles’s, L.A, Hong Kong, Seoul, Casa, Koreatown, Minneapolis, Grindr, East, India, Wigstock, Tompkins, Vershire, Chee, Iowa, Huntington Beach, Chelsea, Barneys, Madison, Miami, New York State, Washington, The, LA, Silver Lake, Missouri, Children’s Hospital of Los Angeles, Zurich, Central, American, Westlake, Los Angeles and New York, Lincoln, Alphabet City , New York, Lenox, United States, University of Southern California, Downtown Los Angeles

☆ The world’s biggest capital cities are heating up – and Asia tops the charts
▼ + stars: | 2024-06-27 | by ( Lex Harvey | ) edition.cnn.com time to read: +6 min

Beijing Meteorological Observatory issued the first yellow alert for high temperatures in 2024, with the highest temperature in the city reaching 35 degrees Celsius. New Delhi topped the list of hottest cities, recording 4,222 days above 35 degrees Celsius in the past three decades – more than any other city analyzed. In 2018, Seoul saw 21 days over 35 degrees Celsius — more than the previous 10 years combined. Beijing’s number of days over 35 degrees has increased by 309% since 1994. In October 2023, Jakarta experienced 30 consecutive days over 35 degrees Celsius — more days than during the entire period between 1994 and 2003.

Persons: –, ”, Tucker Landesman, there’s, “ We’ve, Kalyani Saha, “, Anthony Wallace, CNN he’d, Sagar, Young, Parveen Kumar Organizations: Hong Kong CNN, International Institute for Environment, Development, Egypt’s, “, Palace Museum, Beijing Meteorological Observatory, CNN, Getty, NGO Centre, Health Development India, Hindustan Times, Dartmouth Locations: Hong Kong, Asia, Buenos Aires, Argentina, Paris, Egypt’s Cairo, Beijing, China, Southeast Asia, India, New Delhi, Delhi, Lajpat Nagar, South East Delhi, Seoul, AFP, Jakarta, South Korea, rehydrate, Gurugram

☆ Hongkong Land plans $1 billion luxury retail destinations in financial hub
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +1 min

Hongkong Land announced a more than $1 billion, three-year investment in ultra-luxury retail in the heart of the city's financial district on Wednesday. Hongkong Land announced a more than $1 billion, three-year investment in ultra-luxury retail in the heart of the city's financial district on Wednesday. The expansion plan comes against a backdrop of overall sliding retail and office markets in Hong Kong, where vacancy rates are at record high levels. But Hongkong Land said its "Very Important Customer" group has continued to spend more in 2023 and 2024, an average of HK$1 million ($128,080) each last year. VIC contributed around 80% of the company's luxury retail sales in Hong Kong.

Persons: Jardine Matheson, Cartier, Louis Vuitton Organizations: Hongkong Land, Hong Kong's, Tiffany, Co, Louis, HK, VIC Locations: Hong, Hong Kong

☆ The yuan's status as a global currency might be gaining ground. But top CEOs see more hurdles to clear
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Beijing has long touted its ambitions for increasing global use of the Chinese yuan — also known as the "renminbi" or "RMB" — in an international financial market where the U.S. dollar is the dominant currency. watch nowLast year, the HKEX announced a "Dual-Counter" program that allows investors to trade Hong Kong-listed securities in Hong Kong dollars or Chinese yuan. The euro was slightly higher at 5.6%, while the U.S. dollar dominated with a nearly 85% share, the data showed. A maturing financial marketDeveloping more Chinese yuan-denominated investment products also requires a maturation of the local financial sector.

Persons: China’s renminbi, Athit Perawongmetha, Bonnie Chan, Chan, We're, SWIFT, Fred Hu, Hu, it's, Patience, Kenny Lam Organizations: Reuters, Hong Kong Exchanges, U.S ., International Monetary Fund, U.S, Primavera Capital, Sigma Asia Locations: U.S, Bangkok, Thailand, Reuters DALIAN, China, Beijing, Russia, Dalian, Hong Kong, Shanghai, Pacific

☆ Two Adidas employees out in China corruption probe
▼ + stars: | 2024-06-26 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Two employees have left Adidas as a result of an ongoing investigation by the German sportswear brand into allegations of corruption in China. Chinese state media outlet Economic View reported Wednesday that both former employees had worked in marketing for Adidas China. The allegations against Adidas executives were contained in an unsigned letter from people calling themselves employees of Adidas China. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — accounts for 15% of the company’s sales. In mainland China, Adidas is the second-largest international sportswear brand behind Nike (NKE).

Persons: ” Claudia Lange, “, ”, Jiemian, Lange, Yang Mi, Yi, Fred Organizations: Hong Kong CNN —, Adidas, “, Adidas China, CNN, Nike Locations: China, Hong Kong, Taiwan, Beijing

☆ The world’s most liveable cities for 2024
▼ + stars: | 2024-06-26 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +4 min

The Austrian city has been crowned the most liveable city in the world yet again in the annual list from the Economist Intelligence Unit (EIU), which was released today. Perfect scoresVienna has been named the most liveable city in the world on the EIU’s Global Liveability Index. ‘Acute housing crisis’Canada's Toronto dropped out of the top 10 most liveable cities list this year, coming in 12th. Swiss city Zurich scored impeccably in the education and health care categories. Gaetan Bally/Zürich TourismusUK capital London was ranked as the 45th most liveable city in the world.

Persons: CNN — It’s, Emmanuele, Australia’s, Gaetan Bally, Abu, Al Khobar, Drazen Zigic, ”, Barsali Bhattacharyya, “, headwinds, Bhattacharyya Organizations: CNN, Economist Intelligence Unit, Vienna, Switzerland’s, Melbourne, Canadian, Calgary, Japan’s, Auckland, Toronto North America, Toronto, Zurich, impeccably, Zürich Tourismus, London, UAE, Nigeria’s Locations: Vienna, Austrian, Denmark’s Copenhagen, Switzerland’s Zurich, Geneva, Vancouver, Japan’s Osaka, New, Western Europe, Honolulu, Hawaii, Atlanta , Georgia, Los Angeles, New York, Toronto, Canada, Australia, Asia, Hong Kong, Abu Dhabi, Dubai, Saudi Arabia’s Riyadh, Jeddah, Al, Israel’s Tel Aviv, Israel, Damascus, Syria, Tripoli, Algeria’s Algiers, Nigeria’s Lagos, Austria, Copenhagen, Denmark, Zurich, Switzerland, Melbourne, Calgary, Sydney, Osaka, Japan, Auckland , New Zealand

☆ Singapore and Hong Kong are the most expensive cities for the ultra-rich to spend their millions
▼ + stars: | 2024-06-26 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Singapore is the most expensive city for high-net-worth individuals, according to a new report. The Asian city-state is followed by Hong Kong and London in Julius Baer's Lifestyle Index. AdvertisementIf you've got millions in the bank and you want to spend them slowly, don't move to Singapore. The Asian city-state is the most expensive major global city for high-net-worth individuals (HNWIs) to live in, according to a new report. It's followed by Hong Kong and London.

Persons: —, you've Organizations: Julius, Service, Business Locations: Singapore, Hong Kong, London, Swiss, It's

☆ This Southeast Asian city is the world's most expensive for the super rich — Hong Kong comes second
▼ + stars: | 2024-06-26 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

All this is reflected in its continued status as the world's most expensive city," the report said. Singapore was followed by Hong Kong, which upstaged Shanghai to emerge as the second most expensive city for the wealthy. Prices for hotel suites (+22.9%), ladies' shoes (+12.7%), and ladies' handbag (+8.6%) saw the biggest increases in the city. London Hotel suites and jewelry were the second-most expensive items across the 25 cities, with prices soaring 38.3% and 17.%, respectively. Here's Julius Baer's list of the world's 10 most expensive cities for high net worth individuals:

Persons: Julius Baer, normalizations, Here's Julius Baer's Organizations: Wealth, Private Locations: Singapore, Swiss, U.S, Hong Kong, Shanghai, London

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