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Asian shares dragged lower by China, dollar on back foot
  + stars: | 2023-11-24 | by ( Stella Qiu | ) www.reuters.com   time to read: +3 min
REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsSYDNEY, Nov 24 (Reuters) - Asian shares were dragged lower by China on Friday amid little guidance from Wall Street which was closed for a holiday, while the dollar remained on the back foot as investors bet U.S. rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.4% but are headed for a weekly gain of 0.9%. Japan's markets (.N225) returned from a holiday, with Nikkei (.225) climbing 1.0% to charge towards a 33-year high hit on Monday. In Europe, slightly better than expected euro zone PMIs nudged the euro and shares higher and Sweden's crown dropped as its central bank left rates on hold. In the currency markets, the dollar < =USD> was on the back foot against its peers at 103.71, nearing a three month low of 103.17.
Persons: Kim Kyung, Shane Oliver, Cash Treasuries, Stella Qiu, Sam Holmes Organizations: Tokyo Stock Exchange, REUTERS, Rights, Nikkei, AMP, European Central Bank, Bank of England, Brent, West Texas, Thomson Locations: Tokyo, Japan, China, Asia, Pacific, Hong Kong, Beijing, Europe
The monthly data does comes with a footnote: The headline job gains of 150,000 were depressed by a United Auto Workers strike. But even accounting for that the number was close to the 183,000 monthly pace of job growth sustained for the 10 years before the pandemic, from 2010 to 2019, and to that extent looked "normal" after years of outsized job gains. The pace of annual wage growth eased down to 4.1% in October in a continuing decline, while the month-to- month increase of 0.2% annualizes to around 2.4%, within the Fed's comfort zone. If labor force growth is coupled with an easing of open jobs, it could show a job market moving closer to balance. But if consumption remains strong and drives still-high numbers of openings, then a stall in labor force growth could reignite wage pressures.
Persons: Jerome Powell, Howard Schneider, Andrea Ricci Organizations: Federal Reserve, United Auto Workers, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S
Ford has bought an electric charging startup called AMP, TechCrunch reported. AdvertisementAdvertisementFord is buying an electric charging startup as it tries to reinvigorate its flagging EV push. The auto giant is purchasing Auto Motive Power (AMP), an electric charging startup that makes battery management software, as it seeks to overhaul its charging technology and reduce the cost of its electric vehicles. A Ford representative told TechCrunch that the deal aimed to accelerate its efforts to encourage EV adoption and improve its charging technology. Other car makers have taken a similarly cautious approach to electric vehicles in recent months, with several ditching ambitious targets amid slowing demand.
Persons: , Ford, it's, Bill Ford, Harald Wilhelm, Elon, carmaker Organizations: Ford, TechCrunch, Service, Auto Motive, The New York Times, Benz, EV, GM, Subaru Locations: California, Kentucky
Netflix said Wednesday its cheaper, ad-supported tier has amassed 15 million global monthly active users. The streaming giant introduced its ad-supported plan alongside a password-sharing crackdown in an effort to drive revenue amid slowing subscriber growth. Netflix has been looking to amp up its ad tier with new features for advertisers and users alike. Members of the ad tier can also expect some new features coming their way. Netflix said it will roll out higher 1080p streaming resolution for ad tier users in addition to 720p.
Persons: Amy Reinhard, Reinhard Organizations: Netflix, Wall, CNBC PRO Locations: Los Angeles
The craze around AI kicked off late last year with the launch of ChatGPT, and dozens of technology companies from Alphabet to Meta Platforms have thrown a hat into the ring . Many companies have utilized AI or machine-learning tools in the past to streamline their businesses. For pharmacy giant Walgreens Boots Alliance and soda maker Coca-Cola , AI is helping improve supply chains, forecast demand and in some cases, predict spending. Centene , UnitedHealth and Elevance Health all highlighted ways they are implementing AI to improve customer offerings. Financials Major financial and banking companies are also finding ways to capitalize on AI to improve efficiencies and their bottom line.
Persons: Gary Guthart, Elevance, UnitedHealth, Erica, Moody's, Andrew Schlossberg, JPMorgan Chase, Jamie Dimon, That's Organizations: CNBC Pro, Consumer, Walgreens Boots Alliance, Supply, Microsoft, Health, Elevance, Bank of America, Google, Mastercard, JPMorgan
Crocs launched its new $120 cowboy boots on Monday. The American brand, which reinvented the modern-day clog, released a limited edition pair of $120 cowboy boots online this week. AdvertisementAdvertisement"Our goal is not to make the haters love the brand," Crocs CEO Andrew Rees told Insider back in 2019 at the height of the "ugly fashion" movement. "It's to exploit that extrinsic tension because it creates opportunity, it creates PR, it creates media, it creates interest. AdvertisementAdvertisement"STOP SENDING ME THE CROCS COWBOY BOOTS !
Persons: Crocs, , Andrew Rees, Z, Heidi Cooley, Cooley, crocs couldn't Organizations: Service, KFC, The New York Times, SPURS
Memon, who cofounded the artificial-intelligence healthcare startup Eureka Health, credits rucking with conditioning his body to keep up with his high-energy pup. Memon hiking around the Bay Area with a weighted backpack. She told Insider she'd seen an uptick in people interested in adding rucking and weight training to their outdoor activities like trail running and hiking. He doesn't ruck outside but wears a weighted vest purchased from Amazon while completing his routine in the gym, which includes time on the StairMaster as well as lifting traditional weights. The venture capitalist Zamir Shukho's dog, Lord Lincoln, wears a weighted vest on walks.
Persons: Zain Memon, Joy, Zain Memon Memon, Memon, It's, , Henry Merriam, REI, Wilson Kriegel, — Kriegel, Wendy Winn, she'd, Winn, Charlie Hale, I'm, Amanda Bradford, rucking, She's, Bradford, I've, Zamir Shukho's, Lord Lincoln, Zamir Shukho, begrudgingly, Vibranium.VC Organizations: Eureka Health, US Army, National Parks Service, Amazon, Group Locations: Buena Vista, Sutro, San Francisco, Silicon, TikTok, North, New York City, New York, Los Angeles, Austin , Texas, Bird, American Staffordshire
United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. DETROIT — The United Auto Workers union is expanding its strike to a Stellantis plant in Michigan that produces Ram 1500 full-size pickup trucks, dealing another blow to the three major U.S. automakers as negotiations drag on. The work stoppage includes roughly 6,800 workers at Stellantis' Sterling Heights Assembly Plant in suburban Detroit, the union announced Monday after initiating the walkout. The work stoppage at the Sterling Heights plant brings the total number of UAW members on strike with the Detroit automakers to more than 40,000. It marks the first escalation in the union's strike in nearly two weeks and the first new work stoppage at Stellantis in over a month.
Persons: Shawn Fain, Stellantis, We've, we've, SHAP Organizations: United Auto Workers, Sterling Heights Assembly, DETROIT —, UAW, Detroit Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Michigan, Detroit, Sterling, Stellantis
It's easy for older workers to complain about Gen Zers as being lazy or entitled. Yet some Gen Z workers are questioning norms that need to be reconsidered, experts tell Insider. AdvertisementAdvertisementWe've all heard the complaints about Gen Z and how they're rattling older managers . People older than Gen Z created the social platforms some Gen Zers are sounding off on. 1 thing she hears from older workers is that Gen Zers ask too many questions.
Persons: Gen Zers, , Gen, Gen Z, Zers, TikTok, Kenneth Matos, Matos, who's, Xer, " Matos, Rebecca Fagan, she's, Fagan, Maia Ervin, Ervin, it's, millennials, they're, Z Organizations: Service, Boomers, KPMG, Gen, JUV Consulting Locations: Zaria
A recent rally in Seoul carried the sound of a rock festival — high-amp speakers throbbing with the K-pop hit “Gangnam Style” — if not the look of one. The crowd of mostly elderly people waved South Korean and American flags to the song’s revised refrain: “Anti-communist style!” When speaker after speaker revved up the crowd with pro-American, anti-communist chants, the crowd shouted, “Hooray for President Yoon Suk Yeol!”​Days later, when thousands of mostly younger protesters marched through the same city center, they ​shook handheld signs and chanted, “Out with Yoon Suk Yeol!”Park Yeol, a regular at such rallies, showed up as an inflatable caricature of the South Korean leader. Fellow protesters took selfies while putting him in a headlock. “​Some people try to punch me,” said Mr. Park, 50. “But that’s the point: I want to demonstrate how mad people are at Yoon.”
Persons: revved, Yoon Suk, , , Yoon Organizations: South Locations: Seoul
Yet one of the enduring legacies of the COVID-era housing market may be the proliferation of bidding wars for rentals. Bidding wars have periodically reared their ugly heads during overheated stretches in New York City's housing market. And while things have cooled down since the mania of 2022, in places where available rental inventory remains low, the bidding wars just won't die. Still, it's hard not to worry that we've opened Pandora's box when it comes to bidding wars. Bidding wars may feel distasteful, embarrassing, and unfairly favor those with the means to drive up already exorbitant asking rents.
Persons: Phil, Rikki Mueller, That's, I've, David Harris, Coldwell Banker Warburg, Harris, didn't, Frances Katzen, Douglas Elliman, Jonathan Miller, Miller, Mueller, Stan Broekhoven, Broekhoven, we've, we'd, he'd, They'd, wasn't, , James Rodriguez Organizations: New, Coldwell Banker, Austin, Google Locations: Manhattan's East, homebuying, New York, Chicago, Boston, Austin, Brooklyn, New York City, California, Los Angeles, South Florida, , New York, Salt Lake City, Las Vegas, Manhattan, David Harris , New York City
Yet one of the enduring legacies of the COVID-era housing market may be the proliferation of bidding wars for rentals. Bidding wars have periodically reared their ugly heads during overheated stretches in New York City's housing market. And while things have cooled down since the mania of 2022, in places where available rental inventory remains low, the bidding wars just won't die. Still, it's hard not to worry that we've opened Pandora's box when it comes to bidding wars. Bidding wars may feel distasteful, embarrassing, and unfairly favor those with the means to drive up already exorbitant asking rents.
Persons: Phil, Rikki Mueller, That's, I've, David Harris, Coldwell Banker Warburg, Harris, didn't, Frances Katzen, Douglas Elliman, Jonathan Miller, Miller, Mueller, Stan Broekhoven, Broekhoven, we've, we'd, he'd, They'd, wasn't, , James Rodriguez Organizations: New, Coldwell Banker, Austin, Google Locations: Manhattan's East, homebuying, New York, Chicago, Boston, Austin, Brooklyn, New York City, California, Los Angeles, South Florida, , New York, Salt Lake City, Las Vegas, Manhattan, David Harris , New York City
Amazon shuts down Amp live audio service
  + stars: | 2023-10-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com   time to read: +2 min
Amp, a live audio app that lets users DJ their own show, is seen on a smartphone. Amazon is shutting down its live audio service, called Amp, the company confirmed to CNBC. Amp allows users to host their own live show, where callers can join and request to speak. "We learned a lot about how live music communities interact in the process, which we are bringing to bear as we build new fan experiences at scale in Amazon Music." Amazon has made other bets in audio and entertainment, including a music streaming platform, Twitch livestreaming service and audiobooks.
Persons: Nicki Minaj, Lil Yachty, We've, Andy Jassy Organizations: CNBC, Meta, Spotify, Amazon, Bloomberg Locations: riskier
Why it’s nutty not to eat nuts for good health
  + stars: | 2023-10-02 | by ( Carolyn O Neil | ) edition.cnn.com   time to read: +8 min
Sign up for CNN’s Eat, But Better: Mediterranean Style newsletter, an eight-part series that guides you in an expert-backed eating lifestyle that’s good for your health. Nuts contain dietary fiber, plant-based protein, vitamin E and potassium, calcium and magnesium. And to reap the most benefits, it’s key to make eating nuts a habit over the long haul. “Many healthy eating patterns, such as the renowned Mediterranean diet, include nuts on a regular basis in the diet,’’ Palmer said. Think outside the bowlIt’s easy to snack on nuts as part of a healthy lifestyle, but I also use nuts in many recipes.
Persons: they’re, , Sharon Palmer, Julio Ricco, iStockphoto, Pecans, They’re, ” Palmer, ’ Palmer, dill, Candice Bell, Liz Weiss, ” Carolyn O’Neil Organizations: CNN, US Food and Drug Administration, FDA, Beat Diabetes,
Lucid opens first international EV factory in Saudi Arabia
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 27 (Reuters) - Electric-vehicle maker Lucid Group (LCID.O) said on Wednesday it had opened its first international manufacturing plant in Saudi Arabia's Jeddah city, under a deal designed to further the Middle Eastern country's electrification push. Lucid announced plans for the Jeddah factory last year and said the kingdom had signed an agreement to buy up to 100,000 vehicles from the company over 10 years. In 2022, the kingdom launched its first EV brand Ceer and announced $6 billion in investments for a steel plate mill complex and an EV battery metals plant. Industry leader Tesla (TSLA.O) is also reportedly in early discussions to set up a manufacturing plant in Saudi Arabia. Lucid's other manufacturing plant is in Arizona, United States.
Persons: Andrew Kelly, Lucid, Tesla, Yuvraj Malik, Devika Organizations: Nasdaq, Lucid Motors, Churchill Capital Corp, REUTERS, Industry, King Abdullah Economic City, Saudi's Public Investment Fund, EV, Thomson Locations: New York City , New York, U.S, Saudi Arabia's Jeddah, Jeddah, China, United States, Saudi Arabia, King Abdullah, Arizona, Bengaluru
When F1 took over the city recently, Tata Communications hosted a community event with experts from the worlds of gender equality, technology, and sports. Men may have long dominated science, technology, engineering, and math (STEM) education and careers, but in Singapore women's employment in science-based fields is climbing fast. The jobs of the future are digital, and a strong base will give these young women a leg up in STEM careers." Tan was speaking at Amp It Up, an event hosted by Tata Communications for STEM students during the Singapore Grand Prix in September. She added: "It's about companies working with these initiatives to make sure that young women are aware of the available opportunities."
Persons: there's, UWS, Georgette Tan, Tan, Oriel Morrison, Rosanna Tennant, Tri Pham, Amitabh Sarkar, Sarkar, We've, Monisha Kaltenborn, Hannah Schmitz, Red, Ruth Buscombe, Christina Teo Organizations: Tata Communications, United Women Singapore, Prix, Tata Communications Community, APAC, Asia, F1 Media & Technology, Team Sauber, Massachusetts Institute of Technology, MIT, European Union, Insider Studios Locations: Singapore, Asia Pacific, Japan, United States
A sudden leadership change at Amazon's Amp live radio division this week has drawn a rancorous response and trenchant questions from employees, reflecting the mounting hostility within the failing business. Shortly after the announcement, employees submitted a long list of questions for leadership at an internal town hall meeting scheduled for Wednesday. 'Failing to lead Amp to success'Many questions submitted by employees asked about the general direction of the Amp business. Another person noted the Amp team has missed some of its key performance goals, such as monthly active users. Employees expressed a strong distrust of the leadership team, too.
Persons: Matt Sandler, John Ciancutti, Alok Verma, didn't, Nicki Minaj, Sandler, John, Eugene Kim, Katherine Long Organizations: Amazon, Amazon Music's, Amazon Care, Employees
On Monday, the UAW held talks with Stellantis though no deal was reached. About 12,700 UAW workers are on strike as part of a labor action targeting three U.S. assembly plants - one at each of the Detroit Three - after the prior four-year labor agreements expired. He said the UAW is ready to do what was necessary when asked whether it would extend the strike to other plants this week. Ford has an assembly plant and two engine plants in Canada with a total of about 5,000 union workers. Shares of BlueScope Steel (BSL.AX) slipped to an over three-month low as the strike weighs on its North American business.
Persons: Hakeem Jeffries, Rebecca Cook, plateauing, Shawn Fain, Fain, Unifor, Ford, Janet Yellen, Biden, Yellen, Stellantis's Ram, David Shepardson, Ben Klayman, Doina Chiacu, Deepa Babington, Alexander Smith Organizations: Democratic, U.S . House, United Auto Workers, Ford Motor Michigan, Plant, Wayne , Michigan U.S, REUTERS, Detroit Three, Union, General Motors, Ford, UAW, Detroit, MSNBC, CNBC, Ford Bronco, Chevrolet, Michigan Bronco, GM's, Silverado, BlueScope, Reuters, Thomson Locations: Wayne , Michigan, Canada, Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, North America, Michigan
Ford could face strike in Canada, adding to U.S. labor pressure
  + stars: | 2023-09-18 | by ( ) www.cnbc.com   time to read: +4 min
Ford Motor could face a strike in Canada if no agreement is reached by 11:59 p.m. Monday with the union representing about 5,600 Canadian auto workers, just days after workers at one of its U.S. plants went on strike. On Friday, the United Auto Workers union launched a targeted strike against Ford, General Motors and Chrysler-parent Stellantis , targeting one assembly plant at each company. Canadian union Unifor, whose contract with Ford expires at 11:59 p.m. Monday, said "while we remain at the table the likelihood of a strike increases with each passing hour." Ford has two engine plants in Canada that build V-8 motors for F-series and Super Duty pickups assembled in the United States. Ford on Friday furloughed 600 workers who are not on strike at the Michigan Bronco plant because of the impact of the work stoppage.
Persons: Ford, Stellantis, Shawn Fain, Fain, Janet Yellen, Stellantis's Ram, BlueScope Steel Organizations: Ford, United Auto Workers, General Motors, Chrysler, UAW, Detroit automakers, Union, GM, Chrysler Corp, MSNBC, Ford Bronco, Chevrolet, Michigan Bronco, GM's, Silverado, BlueScope Locations: Canada, United States, Ontario, Kentucky, Dearborn , Michigan, Kansas City , Missouri, U.S, Auburn Hills , Michigan, Detroit, Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, North America
Hong Kong CNN —Australia’s new central bank chief, Michele Bullock, took the helm Monday after a firestorm of criticism over rising living costs engulfed the tenure of her predecessor. Philip Lowe, former governor of the Reserve Bank of Australia, speaking in Canberra in August. “Raising interest rates is never popular, but I think given the circumstances, the Reserve Bank had to do something,” noted Oliver. Within the bank, Lowe also faced questions about the culture he’d fostered since taking over in 2016. Should prices fall more slowly than expected, the central bank would face similar pressure to raise rates, Oliver predicted.
Persons: Hong Kong CNN —, Michele Bullock, Bullock, Philip Lowe, Shane Oliver, , would’ve, wasn’t, Lowe, Oliver, Rohan Thomson, RBA, Nick McKim, ” McKim, “ It’s, ” Oliver, disempowered, ” Bullock, ” Lowe, — Hilary Whiteman Organizations: Hong Kong CNN, Reserve Bank of Australia, AMP, CNN, Bloomberg, Getty, Reserve Bank Locations: Hong Kong, Australian, Canberra, Ukraine, Australia, United States, Europe
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW president says union prepared to 'amp up pressure' on automakersThe United Auto Workers strike has entered its fourth day. UAW President Shawn Fain shared some thoughts.
Persons: Shawn Fain Organizations: United Auto Workers, UAW
She now has her dream job in Puerto Escondido, Mexico, where she's become a go-to content creator. Her drone was a key investment and it got her a job shooting some of the top Airbnbs in Mexico. It's supposed to be some of the top Airbnbs in Mexico designed by really famous architects. AdvertisementAdvertisementI've connected with a big Instagram page that shoots all of the best Airbnbs all over Mexico. I follow real-estate pages, which are huge, because I have a drone and a lot of agents really like drone footage.
Persons: Samantha Weiss, she's, I'm, I've, Weiss, It's, it's, He's, he's, there's, we're Organizations: Service, Puerto Escondido Locations: Puerto Escondido, Mexico, Wall, Silicon, Airbnbs, Stamford , Connecticut, Southeast Asia, Thailand, Turkey, Albania, Puerto, Mexico City
U.S. dollar rises on global growth worries; Aussie down
  + stars: | 2023-09-05 | by ( ) www.cnbc.com   time to read: +3 min
The dollar rose to a near six-month high against a basket of currencies on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency. The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.
Persons: Shane Oliver, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin Organizations: AMP, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie Locations: Sydney, Australia, China, Reserve Bank of Australia, Europe, Washington, U.S, Britain
New Zealand's labor market remains tight, says economist
  + stars: | 2023-08-16 | 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 EmailNew Zealand's labor market remains tight, says economistDiana Mousina of AMP Capital discusses the outlook for New Zealand's interest rates and its labor market.
Persons: Diana Mousina Organizations: AMP Capital
Until now, determining what exactly is in the vast mess of garbage that arrives at recycling plants has been a dirty and difficult job. Now, companies such as AMP Robotics, Machinex, Recycleye and a California-based startup called EverestLabs are using AI and robotics to do just that. "Because of AI, because of the robotic arms, we have seen plants recover 10, 20, 30% more than what they have been doing previously," said JD Ambati, CEO of EverestLabs. "They have been losing millions of dollars to the landfill, and because of AI, they were able to identify the value of the losses and deploy robotic arms to capture that." Add to that robotic arms, which he says recover the packaging three to four times more effectively than humans.
Persons: Ambati, Tom Outerbridge, Lisa Rizzolo Organizations: AMP Robotics, Labor, SMR, Translink Capital, NEC, Future, Sierra Ventures, Morado Ventures, Xplorer, CNBC Locations: California
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