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☆ A millennial who makes 6 figures says she's looking across the US for a home but is struggling to find one in her budget that has green space and a 'metropolitan vibe'
▼ + stars: | 2024-06-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Read previewWhen Madelyn Driver and her husband began house-hunting, they thought they had a few advantages. The 30-year-old makes over $100,000 working in the tech industry, according to a document viewed by BI — and she said her husband also has a six-figure income. Driver is among a group of Americans with six-figure incomes who are having trouble meeting some of their financial goals. Related storiesOf course, for the majority of Americans who don't have a six-figure income — the average annual full-time salary was about $84,000 as of March — affording a home is even more of a challenge. Driver said their ideal location would have a highly educated population, diversity, plenty of green space, and milder weather than the Northeast.

Persons: —, they're, they've, Driver, hasn't, millennials Organizations: Service, BI, Business Locations: Pennsylvania, Colorado, Carolinas, Virginia

Morgan Stanley lowered its price target on Nike. Meanwhile, UBS upgraded Best Buy to buy from neutral. — Brian Evans 6:45 a.m.: UBS upgrades Newmont UBS thinks rising gold prices into 2025 can help lift Newmont Corporation moving forward. — Brian Evans 6 a.m.: UBS upgrades Best Buy, forecasts outperformance ahead UBS thinks a potential forthcoming appliance upgrade cycle as well as new product offerings could lift Best Buy stock. The bank reiterated its overweight rating on shares but trimmed its price target to $114 from $116.

Persons: Morgan Stanley, Goldman Sachs, Toll, Susan Maklari, — Brian Evans, Daniel Major, Major, Michael Lasser, Lasser, BBY, Alex Straton, Fred Imbert Organizations: CNBC, Nike, UBS, Newmont, Dow Jones

☆ Hyundai: India’s biggest IPO could come from South Korean car manufacturer
▼ + stars: | 2024-06-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.

Persons: Maruti Suzuki, Narendra Modi, JP Morgan, Morgan Stanley, India’s Organizations: Hyundai, Maruti, Tata Motors, Securities and Exchange Board of India, EV, South, Benchmark, Citi, HSBC Locations: India, Mumbai, Korean, China, United States, Hyundai India

☆ Iran's upcoming snap elections: A battle of anti-western hardliners
▼ + stars: | 2024-06-17 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Iranian Leader Press Office | Anadolu | Getty ImagesIran is holding snap elections on June 28 following the sudden death of former Iranian President Ibrahim Raisi in a helicopter crash. The election will take place against the backdrop of a battered Iranian economy, widespread popular discontent and crackdowns on dissent. He described Iran's supreme leader Ayatollah Khamenei⁠ as the country's "only 'voter' of significance." Iran's Presidency | WANA | Via ReutersBut with Sunday's announcement of the approved candidates, "those hopes were largely dashed," he said. It comes after turnout for Iran's parliamentary election in March was also the lowest for a legislative contest in the Islamic Republic's history at 41%.

Persons: Ali Khamenei, Ebrahim Raisi, Hossein Amir, Ibrahim Raisi, crackdowns, Behnam ben Taleblu, Ayatollah Khamenei⁠, ben Taleblu, Nader Itayim, it's, Raisi, Khamenei, Mahsa Amini, Sanam Vakil, Itayim, ATTA KENARE Organizations: Iran's, Tehran University, Iranian, Press, Anadolu, Getty, U.S, Guardian Council, Council, Foundation for Defense of Democracies, CNBC, Western, Argus Media, Reuters, Union for Secular Republic, Human Rights, Chatham House, Islamic Locations: Tehran, Iran, Israel, Mideast, Iran's, Islamic Republic, Kurdish Iranian, East, North Africa

☆ Bipartisan congressional delegation will travel to Israel ahead of Netanyahu address to Congress
▼ + stars: | 2024-06-17 | by ( Katrina Samaan | Michelle Shen | ) edition.cnn.com time to read: +3 min

CNN —Democratic Rep. Steny Hoyer will lead a bipartisan congressional delegation to Israel this week, a notable show of support as a sizable number of Democrats say they are considering boycotting Prime Minister Benjamin Netanyahu’s address to Congress next month. The congressional delegation will also discuss the ongoing efforts to secure a temporary ceasefire and the release of the remaining hostages held in Gaza by Hamas. While Congress passed a bill with aid to Ukraine and Israel in April, Democrats remain divided over Israel’s handling of its war against Hamas. CNN has spoken to dozens of Democratic lawmakers who have said they are considering boycotting Netanyahu’s speech, with several already publicly announcing their plans to not attend. “Because America’s relationship with Israel is ironclad and transcends one person or prime minister, I joined the request for him to speak,” he said earlier this month.

Persons: Steny Hoyer, Benjamin Netanyahu’s, “, ” Hoyer, ”, Joe Biden, It’s, Netanyahu, Biden, Barack Obama, Ro Khanna, I’m, Sen, Bernie Sanders, Jim Clyburn, Chuck Schumer, CNN’s Haley Talbot Organizations: CNN — Democratic, Nine, Hamas, White, CNN, Democratic, ”, New York Democrat Locations: Israel, Gaza, Ukraine, Washington, California

☆ White Castle is taking drive-thru orders using an AI voice system that claims to be more accurate than a human
▼ + stars: | 2024-06-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

White Castle is just one in a long line of restaurant chains toying with drive-thrus powered by voice-recognition AI. Chains such as Taco Bell, McDonald's, and Checkers & Rally's have all tested or introduced voice AI drive-thrus. AdvertisementBut voice AI drive-thrus are far from achieving widespread adoption. Last year, restaurant-tech company Presto Automations revealed in an SEC filing that over 70% of its voice AI orders required assistance from off-site human workers. AdvertisementIf customers don't want to order using the voice AI system, they can ask to speak to a human, he said.

Persons: —, Julia, Julia isn't, Taco Bell, McDonald's, Jamie Richardson, White, Richardson, Ben Bellettini, SoundHound's, SoundHound, SoundHound doesn't, fryer Organizations: Service, Business, SEC, IBM Locations: White, St Louis, Cincinnati, Indiana, Merrillville

☆ Kenya confronts trail of rape accusations and abandoned children against UK soldiers
▼ + stars: | 2024-06-17 | by ( Larry Madowo | ) edition.cnn.com time to read: +11 min

Marian is among a group of mixed-race children whose mothers say they were conceived after rape by British soldiers training in Kenya. Mixed-race children continue to be born in the remote villages where the British Army trains its soldiers in Kenya. One of the more contentious accusations against British soldiers involves the case of Agnes Wanjiru. Allegations of rape and other crimes, including murder, by British soldiers deployed there date back to the 1950s. The UK investigators did not conduct DNA tests on any of the 69 mixed-race children alleged to have been born from rape by British soldiers.

Persons: Marian Pannalossy, “, ”, You’re, ’ ” Marian, Marian, Lydia Juma, ” Juma, ’ Marian, ’, Generica, Nicole, Namoru, Festo Lang, CNN Juma, BATUK, Agnes Wanjiru, hasn’t, Wanjiru’s, King, Marian Mutugi, Martyn Day, Ntoyie Lenkanan, CNN “, Saitet, nosedived, Kelvin Kubai, ” Kubai, Generica Namoru, “ I’m, It’s, “ It’s, We’re, ” Mutugi Organizations: Kenya CNN, CNN, British Army, British Army Training Unit, Defense, Intelligence, Foreign Relations, National, British, Kenyan, British High Commission, The Defense, Kenya National Commission, Human Rights, Britain’s Ministry of Defense, Royal Military Police, Reconciliation, Human Rights Commission Locations: Archer’s, Kenya, Archer’s Post, Nairobi, British, Samburu, Nanyuki, Britain, East, Laikipia, London, DolDol

☆ How Eli Lilly is managing soaring demand for GLP-1s, according to outgoing CFO Anat Ashkenazi
▼ + stars: | 2024-06-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Skyrocketing demand for a class of weight loss and diabetes treatments has lifted Eli Lilly to new heights over the last year. But the drugmaker has much more work it wants to do with that hard-won success, outgoing Chief Financial Officer Anat Ashkenazi told CNBC. Ashkenazi took over as CFO at Eli Lilly in 2021 after roughly two decades with the pharmaceutical giant. Her tenure hasn't come without challenges: Eli Lilly and rival Novo Nordisk have both struggled to manufacture enough supply of their treatments to meet unprecedented demand, causing nationwide shortages of those drugs. Eli Lilly does not expect to match the pace of demand this year and maybe not even in 2025, Ashkenazi said at a conference in March.

Persons: Eli Lilly, Anat Ashkenazi, Eli, Zepbound, Ashkenazi, Eli Lilly's Organizations: CNBC, Novo Nordisk

☆ Benjamin Netanyahu disbands Israeli war cabinet
▼ + stars: | 2024-06-17 | by ( Eugenia Yosef | Elliott Gotkine | ) edition.cnn.com time to read: +2 min

CNN —Israeli Prime Minister Benjamin Netanyahu has disbanded the country’s war cabinet, an Israeli official has told CNN, just over a week after opposition leader Benny Gantz withdrew from the body. Announcing his “complex and painful decision” to leave the war cabinet on June 9, Gantz said, “Netanyahu prevents us from moving forward to a real victory [in Gaza].” Eisenkot also quit the war cabinet. By dismantling the cabinet, Netanyahu avoids having to accede to that demand – or reject it. Another interpretation is that without Gantz – and Eisenkot – in it, there was no longer any point in keeping the war cabinet going. Instead, an Israeli official tells CNN, Netanyahu will in future hold smaller forums to discuss sensitive matters relating to the war with Hamas.

Persons: Benjamin Netanyahu, Benny Gantz, Netanyahu “, Netanyahu, Gantz, Bezalel Smotrich, Itamar Ben, Yoav Gallant, Ron Dermer, Gadi, ” Ben, “ Netanyahu, ” Eisenkot, hesitancy, “, ” Gantz, Ben, Gvir, Gantz – Organizations: CNN, Israeli, Finance, National Security, Defense Locations: Gaza

☆ ‘Wheatfield’: Agnes Denes has reimagined her landmark artwork
▼ + stars: | 2024-06-17 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

Out west, Denes hopes to plant seeds of community with the help of the project’s host, Tinworks, an arts organization in the rapidly developing city of Bozeman. “Wheat is wonderful — it sustains humanity and is probably the most planted food next to rice. Jenny Moore/TinworksSome 200 packets of wheat were also distributed among Bozeman residents to grow concurrently with Denes' field. “Can you imagine if I could have realized 20 or 30?”Sowing seeds for changeAs with “Wheatfield,” seeds have often served as potent symbols for Denes. Courtesy Agnes Denes/Leslie Tonkonow Artworks + ProjectsWith “Wheatfield – An Inspiration,” like with all her work, Denes strives for nuance and to engender change through visitors and participants who take something meaningful from the work.

Persons: Agnes Denes, —, CNN —, Denes, Bozeman . Wheat, ” Denes, ”, Blair, Jenny Moore, Tinworks, Kenny Van Dyke, “, ” Moore, Agnes, Moore, I’d, it’s, Leslie Tonkonow, … Organizations: CNN, Art Basel, Bozeman ., Bozeman, Tinworks, Montana, “ Locations: Lower Manhattan, Montana, Wheatfield, Budapest, New York, Battery Park City, Milan, Switzerland, Bozeman, Montana State, Ylojarvi, Finland, ”, Sullivan County , New York, Lewiston, Niagara, Long Island , New York, Kassel, Germany, Istanbul, Egypt, Queens , New York, “ Wheatfield

☆ The stock market has never been this divided before, by one measure
▼ + stars: | 2024-06-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The divergence between the broader stock market and a handful of massive technology companies continues to hit new milestones. Excitement around artificial intelligence has led to several tech stocks becoming dominant weights in the S & P 500. In the equal-weighted S & P 500, each company has the same influence on the index. Over the last 12 months, the SPDR S & P 500 Trust (SPY) is up 23.5%, while the Invesco S & P 500 Equal Weight ETF (RSP) is higher by just 10%. RSP 1Y mountain Equal weighted measures of the S & P 500, like the RSP, are underperforming the index itself.

Persons: Jonathan Krinsky, that's, Krinsky Organizations: Microsoft, Apple, Nvidia, RSP, Bulls

☆ Australia's Albanese, China's Li hold 'candid' talks
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +3 min

China's Premier Li Qiang (L) and Australia's Prime Minister Anthony Albanese shake hands during a signing ceremony at Parliament House in Canberra on June 17, 2024. This dialogue has allowed us to build a deeper awareness of our respective interests," Albanese said in opening remarks. After the meeting, Li told reporters the leaders held a "candid, in-depth and fruitful meeting and reached a lot of consensus". Albanese told reporters after the meeting the two countries had revitalized engagement and he was "determined to keep growing our relationship where we can." watch nowOn regional issues, he had told Li that "Australia advocates that we should all work together to promote a regional balance where no country dominates and no country is dominated".

Persons: Li Qiang, Anthony Albanese, Lukas Coch, Li, Xi Jinping, " Albanese, Albanese, Gong, Tenzin Wougyal Organizations: Australia's, House, AFP, Getty Locations: Canberra, Australian, Beijing, Australia, China, Hong Kong

☆ ‘Inside! Inside!’: Sailors Recount Houthi Attack and U.S. Navy Rescue
▼ + stars: | 2024-06-17 | by ( Camille Elemia | ) www.nytimes.com time to read: +1 min

The crew members thought it was nothing unusual, but moments later, the ship captain said, they noticed a vessel rushing toward their ship. The boat appeared to be remote-controlled — the fishermen they thought they had glimpsed were dummies — and crew members shouted, “Inside! Inside!” as they raced for cover, according to a video one of them posted on Facebook. The boat collided with their ship and exploded, shattering glass windows on the bridge of their vessel and submerging the engine room in seawater and oil, the captain said. “We were all scared,” the captain, Christian Domrique, said on Monday in Manila, where he and the crew members, all of whom are from the Philippines, were brought after the U.S. Navy airlifted them from the stricken vessel.

Persons: —, “, Christian Domrique Organizations: Facebook, U.S . Navy Locations: Sea, India, Manila, Philippines, Red, Yemen, Israel, Gaza

☆ Plummeting fertility rates are making Asian countries worry about running out of soldiers
▼ + stars: | 2024-06-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +5 min

Read previewEast Asia has some of the world's lowest fertility rates, forcing countries in the region to think hard about how to maintain their military strength. This is particularly concerning given the rise in tensions between North and South Korea, and between China and the US. China, Japan, and South Korea have fertility rates below the global replacement rate — resulting in declining populations. South Korea's fertility rate was 0.72 in 2023, the lowest in the world, compared to the global average of 2.2, according to The Lancet. Hughes said that, like South Korea, Japan has been left thinking about how automation and AI can mitigate the worst effects of a shortage of an army-age population.

Persons: —, Ramon Pacheco Pardo, Pardo, Chris Hughes, Hughes, They've, it's, China's Organizations: Service, Business, KF, VUB, Brussels School, Governance, Vrije Universiteit Brussel, South Korean, North, - Defense Forces, University, Warwick, Self - Defense Forces, Japan Times, Liberation Army, Nikkei Asia Locations: Asia, North, South Korea, China, Japan, Korea's, VUB Korea, Vrije, North Korea, Korea, Israel, Pardo, Ukraine, Russia

CNN —Thousands of people have been evacuated in southeast China after heavy rains hammered the region over the weekend, triggering floods and deadly landslides, authorities and state media said Monday. As of Monday morning, more than 10,000 people were evacuated in Meizhou, the hardest flood-hit city in Guangdong province. Those warnings were underscored in April, when deadly floods submerged parts of Guangdong after rain poured for multiple days. Four people were killed in a series of landslides in the coastal province, CCTV reported Monday. China has been grappling with extreme weather this month as heavy rains inundate the south while severe drought and record temperatures scorch the north.

Organizations: CNN, Ministry of Water Resources, “ Authorities Locations: China, Meizhou, Guangdong province, Guangdong, Fujian, Shanghang

☆ Red flag answers to avoid in hiring interviews, according to Tripadvisor's former CEO
▼ + stars: | 2024-06-17 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Nailing your hiring interviews is an entirely separate test, and Tripadvisor cofounder Steve Kaufer recently shared some red flag answers to avoid. Kaufer said he listens for tendencies to blame others (a red flag) or their ability to be empathetic to coworkers (a green flag). The answer to that question can also indicate differing definitions of hard work, the former Tripadvisor CEO said. For example, if the candidate viewed a task as difficult because they had to work on a single Saturday, that can be "kind of a red flag," Kaufer said.

Persons: —, Steve Kaufer, Logan Bartlett, Kaufer, Kaufe, he'll Organizations: Service, Business

☆ At this comedy show, tech workers are the butt of every joke
▼ + stars: | 2024-06-17 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

But comments like these are par for the course at Socially Inept, a comedy show hosted by former tech employees who make the audience — which is largely made up of tech workers themselves — the material. Socially Inept was founded by Jesse Warren and Austin Nasso, two former Big Tech employees. AdvertisementNasso, Oster, and Warren met through Seattle's comedy scene when Nasso and Warren worked Big Tech jobs in the city. It makes it seem like you're in on the joke, even when you're also kind of the butt of the joke. And for the most part, it seemed like tech workers in the audience were very self-aware and took their roasts in stride.

Persons: —, She's, Peter Jay Sharp, Jesse Warren, Austin Nasso, Nikita Oster, Boston —, Nasso, Oster, Warren, Masha Oster, — Warren, Justin Bieber, James Franco, Tom Brady, revel, they're Organizations: Service, Business, Flatiron District, Union Square Ventures, Google, Big Tech, Boston, Microsoft, SpaceX, Valley Bank, Army, eBay, Tech Locations: New York, Hudson, Manhattan, San Francisco , LA, Miami, Seattle, LA, hurtfulness

☆ Kate Middleton's reappearance could save the royal family
▼ + stars: | 2024-06-17 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Read previewKate Middleton attended King Charles III's birthday parade this weekend — her first royal engagement since she announced her cancer diagnosis in March. The princess's tentative return to royal duties comes after a difficult period for the royal family, which included the "Katespiracy" theories and the slimmed-down monarchy seemingly threatening the family's future. The royal family at King Charles III's birthday parade. The royal family carried out a collective 4,000 engagements in 2014, including Prince Harry's trip to Brazil and the Queen and the Duke of Edinburgh's engagements in France and Italy. "The royal family has a strange position in our society, where everyone, to an extent, feels like it's an extension of our own families."

Persons: —, Kate Middleton, King Charles III's, Kate, Jenny Packham, Prince William, King Charles , Queen Camilla, Richard Fitzwilliams, Chris Jackson, Charles, Fitzwilliams, Catherine, Phil Dampier, who's, Prince Harry's, Duke, Jack Royston, Kate's, Royston, She's, Robert Hardman, Charles III, Hardman, Buckingham Organizations: Service, Business, Royal, Guardian, New Locations: Buckingham, Brazil, France, Italy, Kensington

☆ Japan reports record spike in potentially deadly bacterial infection
▼ + stars: | 2024-06-17 | by ( Helen Regan | Junko Ogura | ) edition.cnn.com time to read: +3 min

CNN —Cases of a dangerous and highly fatal bacterial infection have reached record levels in Japan, official figures show, with experts so far unable to pinpoint the reason for the rise. STSS is a rare but serious bacterial infection that can develop when bacteria spread into deep tissues and the bloodstream. In March, Japanese authorities warned of a jump in STSS cases. The reason for this year’s rise in cases of STSS in Japan remains unclear, according to Japanese public broadcaster NHK. “So, more people are now susceptible to infection, and that may be one reason for the sharp rise in cases.”

Persons: iGAS “, Ken Kikuchi, people’s, ” Kikuchi Organizations: CNN, Japan’s Health, Japan’s National, of Infectious, US Centers for Disease Control, Prevention, CDC, World Health, of Infectious Diseases, NHK, Tokyo Women’s Medical University Locations: Japan, STSS, Tokyo

☆ Oppressive heat wave will broil huge swaths of the East with record-breaking temperatures this week
▼ + stars: | 2024-06-17 | by ( Mary Gilbert | Elizabeth Wolfe | ) edition.cnn.com time to read: +3 min

Some areas could endure the longest heat wave they’ve seen in decades, the National Weather Service’s Weather Prediction Center said. Tens of millions of people who aren’t used to heat this intense will be sweating in temperatures well into the 90s this week. Through the rest of the week, the most extreme heat risk is in place from the Great Lakes into the Northeast, according to the National Weather Service. Humidity will also join forces with extreme heat to create triple-digit heat indices – measurements of how hot the human body feels – in some areas. Chicago residents could feel heat indices between 95 and 105 degrees through next week, the NWS in Chicago warned.

Persons: CNN’s Robert Shackelford Organizations: CNN, National Weather Service, Prediction, NWS Locations: South, Midwest, Great, Chicago, St, Louis, Detroit, Cleveland, Pittsburgh , New York City, Boston, Pittsburgh, New York, New England

☆ Stocks making the biggest moves midday: Autodesk, Broadcom, AMC Networks, Virgin Galactic and more
▼ + stars: | 2024-06-17 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Virgin Galactic — The struggling space company slid 15% as the stock's 1-for-20 reverse stock split took effect. The company also announced that Brenda Morris, who served as interim CEO, will remain on its board of directors. Autodesk — Shares gained more than 6% following activist fund Starboard Value taking a $500 million stake in the software company. The company beat earnings and revenue estimates for the second fiscal quarter last week, and it announced a 10-for-1 stock split. Chipotle — The restaurant chain's stock rose nearly 3% ahead of the company's 50-for-1 stock split , which is how it will begin trading at the market open on June 26.

Persons: Mark King, Brenda Morris, BTIG, Goldman Sachs, Corning, Fox, Chipotle, —, Alex Harring, Yun Li Organizations: Virgin Galactic, AMC Networks, Autodesk —, Broadcom, Shattuck Labs, Louisiana - Pacific, TDK, Apple, UBS, Fox Advisors Locations: Louisiana

☆ Russia’s Putin to visit North Korea in rare trip as anti-West alignment deepens
▼ + stars: | 2024-06-17 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +6 min

Following his visit to North Korea, Putin will travel to Hanoi Wednesday for another two-day trip, in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Both countries have denied North Korean arms exports. The Kremlin has said that Russia hopes to build a partnership with North Korea “in all possible areas,” according to Russian state media. Putin’s move to bolster North Korean ties has also been a boon for Kim, who remains unbowed by years of international sanctions over his illegal nuclear weapons program. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: CNN — Vladimir Putin, Kim Jong Un, Putin, Kim, ” Kim, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ”, ” Putin, Kim Jong Il, Xi Jinping Organizations: CNN, Kremlin, Putin, North Korean, Pyongyang –, North, North Korea “, Ukrainian, Kyiv, NATO, Ukraine, Defense, United Nations Security, UN Locations: North Korea, Russian, Ukraine, Pyongyang, Hanoi, Russia, United States, South Korea, Moscow, Korean, Russia’s, Italy, Kyiv, Beijing, China, Iran, South Africa, Brazil

☆ China’s property prices are still plunging despite government efforts to rescue the market
▼ + stars: | 2024-06-17 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday. According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record. A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases. Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said. Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.

Persons: ”, “ Organizations: Hong Kong CNN, National Bureau of Statistics, Macquarie Group, Societe Generale, NBS, Labor, Macquarie, HSBC, Communist Party Locations: China, Hong Kong, Beijing

☆ Russia will hold Evan Gershkovich’s espionage trial behind closed doors, state media reports
▼ + stars: | 2024-06-17 | by ( Sergey Gudkov | Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —American journalist Evan Gershkovich will stand trial behind closed doors in the Russian city of Yekaterinburg starting on June 26, state-run news agency TASS reported Monday, citing the court’s press service. The Russian Prosecutor General’s office said last Thursday it had approved the indictment and referred Gershkovich’s case to a trial court. On Thursday, US State Department spokesperson Matthew Miller said the allegations against Gershkovich have “absolutely zero credibility.”“We have been clear from the start that Evan has done nothing wrong. He should be released immediately,” Miller said at a State Department briefing. Gershkovich is among a number of Americans being held in Russia, including former Marine Paul Whelan, whom the US State Department has also declared as wrongfully detained.

Persons: Evan Gershkovich, General’s, Gershkovich, “ Gershkovich, Matthew Miller, ”, Evan, ” Miller, Paul Whelan Organizations: CNN, Wall Street, Sverdlovsk Regional Court, US State Department, State Department, US Locations: American, Russian, Yekaterinburg, Sverdlovsk, Moscow’s, Washington, Moscow, Ukraine, Russia

☆ Indian national extradited to U.S. to stand trial in alleged plot to kill Sikh activist in New York
▼ + stars: | 2024-06-17 | by ( Jonathan Dienst | Tom Winter | ) www.cnbc.com time to read: +2 min

An Indian national accused of helping plot to kill a U.S. citizen in New York City has been extradited to the U.S. to stand trial. A U.S. District Court spokesman said Nikhil Gupta is scheduled to appear Monday in the lower Manhattan courthouse on federal murder-for-hire charges. That critic has been identified as Gurpatwant Singh Pannun, whom Indian officials have labeled a terrorist, according to The Associated Press. Pannun — believed to be the target of the alleged plot — advocates for an independent Punjab region for India's Sikh population, officials said. In November, Justice Department officials announced charges against Gupta after he was arrested in June in the Czech Republic.

Persons: Nikhil Gupta, Gupta, Gurpatwant Singh Pannun, Pannun —, Hardeep Singh, DEA spokespeople Organizations: Department, Associated Press, Justice Department, Prosecutors, Drug, Administration, DEA, FBI, British Columbia, Investigators, U.S Locations: Indian, U.S, New York City, Manhattan, Punjab, Czech Republic, New York, Canada, British

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