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☆ Founder of discount e-shopping firm PDD races up China's rich list
▼ + stars: | 2023-10-24 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

Colin Huang, who founded PDD in 2015 and stepped down as CEO in 2020, was the fastest riser in this year's Hurun Rich List, leaping seven places to be ranked China's third richest man with a $37.2 billion fortune. Richard Liu, who founded e-commerce giant JD.com, also saw his wealth, and that of his wife Zhang Zetian, fall by $6.2 billion since last year to $8.26 billion, according to Hurun's list. JD.com's shares fell to a record low earlier this month after banks cut its price targets citing a weaker-than-expected recovery in consumer spending. Hui Ka Yan is currently being investigated over suspected "illegal crimes", Evergrande said last month. Reporting by Casey Hall; editing by Brenda Goh and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Colin Huang, Yin Liqin, Rich, Jack Ma, Alibaba, Richard Liu, Zhang Zetian, Rupert Hoogewerf, PDD's Temu, Zhong Shanshan, Pony Ma, Hurun, Wang Jianlin, Hui Ka Yan, Evergrande, Casey Hall, Brenda Goh Organizations: Nasdaq, REUTERS, Rights, PDD Holdings, PDD, HK, Hurun, Dalian Wanda Group, China Evergrande, Thomson Locations: New York, Shanghai, China

☆ The US government owns $5.5 billion worth of bitcoin. Whether it holds or sells its stash could have a big impact on the token's price.
▼ + stars: | 2023-10-21 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The US government has seized at least $5.5 billion worth of bitcoin since 2020, according to analysts. Its stake makes it one of the world's largest crypto "whales". Whether it holds or sells its bitcoin stash could have a huge impact on the token's price. AdvertisementAdvertisementThe US government owns billions of dollars worth of bitcoin – and whether it decides to hold or sell could have a big impact on the cryptocurrency's price. Lower volatility means that whales can drive big swings all by themselves – so what the government decides to do with its $5.5 billion stash could have a major impact on bitcoin's price.

Persons: —, James Zhong, Sam Bankman Organizations: Service, Washington, Wall Street Locations: Washington, Coinbase

☆ Crypto 911: Jimmy Zhong hacks his way to $3 billion crypto fortune
▼ + stars: | 2023-10-17 | by ( Eamon Javers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto 911: Jimmy Zhong hacks his way to $3 billion crypto fortuneCNBC's Eamon Javers reports on news from a heist in the cryptocurrency space.

Persons: Jimmy Zhong, CNBC's Eamon Javers

On the phone was 28-year-old Jimmy Zhong, a local party boy and Georgia alum who frequented Athens' drinking establishments. Robin Martinelli, Martinelli Investigations owner and private investigator. Martinelli said Zhong appeared resistant to her theories, especially when they began to focus on his circle of friends. Source: Zhong's social media profileHis parties were epic. Source: Zhong's social media profile

Persons: Jimmy Zhong, Zhong, Robin Martinelli, Martinelli, Montel Williams, " Martinelli, Jimmy, Zhong didn't, Louis Vuitton, Gucci, Jimmy Choo, didn't, he'd, Satoshi Nakamoto, Stefana, CNBC Masic, Zhong couldn't, Jody Thompson, Thompson, Trevor McAleenan, Shaun MaGruder, McAleenan, that's, MaGruder, I've, wasn't, Trevor, I'm, coders, Nathaniel Popper, Popper, Bitcoin, Nobody, bitcoin, Michael Bachner, John Garland, Bachner, Ross Ulbricht, Chad Organizations: University of Georgia, Clarke County Police Department, rowdies, Clarke County Police, CNBC, Department of Justice, Martinelli Investigations, Broad, College, Ritz Carlton, Waldorf, Georgia Bulldogs football, Rose, IRS, Silk, Clarke, Investigators, Misfits, . Locations: Athens, Georgia, bitcoin, It's, Loganville , Georgia, Zhong's, Gainesville , Georgia, Los Angeles, Beverly Hills, LA, Gainesville, Chad, Clarke County, Montgomery , Alabama, U.S

☆ MIT researchers have created a solar-powered desalination device that can make seawater drinkable for less than the cost of US tap water
▼ + stars: | 2023-10-07 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +4 min

Researchers at MIT have created a solar-powered device that can make seawater drinkable. The team says the device can remove the salt from seawater for less than the cost of US tap water. And, to top it off, the water produced by this device could eventually cost less than US tap water, according to a paper published last week in the peer-reviewed journal Joule. Yang Zhong, a graduate student at MIT and an author of the September 27 paper, said this desalination device is more efficient, longer-lasting, and cheaper than previous desalination devices. For Qadir, desalination is a key factor in solving this water crisis.

Persons: Yang Zhong, Zhong, Manzoor Qadir, Qadir, it's, They're, they've Organizations: MIT, Service, Joule, United Nations University, United Locations: East, North Africa

☆ China bans Nomura senior investment banker from leaving mainland — sources
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

Signage for Nomura Holdings Inc. displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Monday, April 24, 2023. Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong Organizations: Nomura Holdings Inc, Nomura Securities Co, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities Locations: Tokyo, Japan, China, Hong Kong, Beijing, Shanghai

☆ China bans Nomura senior investment banker from leaving mainland -sources
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

The logo of Nomura Securities is pictured at the company's Otemachi Head Office in Tokyo, Japan, November 18, 2016. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Asked why the Nomura banker was barred from leaving, Chinese foreign ministry spokesperson Wang Wenbin said he did not have knowledge of the situation at a regular news briefing on Monday. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Toru Hanai, Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong, Selena Li, Kane Wu, Makiko Yamazaki, Liz Lee, Sumeet Chatterjee, Clarence Fernandez Organizations: Nomura Securities, REUTERS, Authorities, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, HK, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities, Thomson Locations: Tokyo, Japan, HONG KONG, China, Hong Kong, Beijing, Shanghai

For the better part of an hour, he might be the only person. Mr. Haugen has worked for more than half of his 52 years as a fire lookout, scanning the larch and pine wilderness from a one-room mountaintop cabin. More and more, he stands at another divide, too: between human jobs and automation. The chief of the U.S. Forest Service, Randy Moore, told lawmakers in March that the agency was moving away from humans in watchtowers. “We need to lean much further into the technology arena,” he said.

Persons: Leif Haugen, Haugen, mutt, Ollie, Randy Moore, ” Organizations: U.S . Forest Service Locations: Montana, West

Higher winds. In a 2018 paper, Dr. Kossin wrote that hurricanes over the United States had slowed 17 percent since 1947. Dr. Kossin likened the problem to walking around your back yard while using a hose to spray water on the ground. Because warmer water helps fuel hurricanes, climate change is enlarging the zone where hurricanes can form. There is a “migration of tropical cyclones out of the tropics and toward subtropics and middle latitudes,” Dr. Kossin said.

Persons: ”, James P, Kerry Emanuel, “, Kossin, “ you’ll, Emanuel, Dr Organizations: National Oceanic, Atmospheric Administration, Hurricanes, Massachusetts Institute of Technology, National Hurricane Center, Researchers Locations: United States, subtropics, Japan

☆ Hot Ocean Temperatures Could Give Hurricane Idalia a Boost
▼ + stars: | 2023-08-29 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: 1 min

As Hurricane Idalia charges toward Florida, one factor that could amplify its effects on coastal communities is the unusually warm water in the Gulf of Mexico, which is partly the result of the sultry weather that has been smothering the South all summer. “Holy cow has it been hot down here,” said Brian Dzwonkowski, a marine scientist at the University of South Alabama and the Dauphin Island Sea Lab. Really hot water. And that’s not a good combination for hurricane season.”Earth’s oceans have been hotter in recent months, by a considerable margin, than at any other time in modern history. In July, a buoy off the Florida coast reported a hot-tub-like reading of 101.1 degrees Fahrenheit, or more than 38 Celsius, a possible world record for sea surface temperatures.

Persons: ”, Brian Dzwonkowski Organizations: University of South Locations: Florida, Gulf of Mexico, University of South Alabama, Dauphin

☆ China's deflation could spill over into a global concern, economists say
▼ + stars: | 2023-08-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

SHENZHEN, CHINA - MARCH 09: View of high commercial and residential buildings on March 9, 2016 in Shenzhen, China. "As a result, Chinese economic weakness and falling prices (especially Chinese producer prices) are likely to spill over into global markets — near-term good news for the Western central banks' fight against elevated inflation." "China's disappointing rebound is now feeding negatively into global sentiment and growth. Beyond the trade-related spillovers, a common global disinflationary pressure comes from commodity prices, where as a huge importer of commodities, Chinese domestic demand remains a key factor. "Weak Chinese domestic investment and broad-based excess capacity in manufacturing, as well as weak sales of new homes and land, are likely to continue to depress global commodity demand," Wilding and Liao said.

Persons: Zhong Zhi, Tiffany Wilding, Wilding, Carol Liao, Montgomery Koning, Liao, TS Lombard's Montgomery Koning Organizations: Getty, National Bureau, Statistics, Evergrande, TS Lombard, Lombard, U.S, Census, TS Lombard's Locations: SHENZHEN, CHINA, Shenzhen, China, U.S, Beijing, West, Germany

☆ Warming Set the Stage for Canada’s Record Fires, Study Finds
▼ + stars: | 2023-08-22 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: +1 min

So far this year, fires have ravaged 37 million acres across nearly every Canadian province and territory. That’s more than twice as large as the amount of Canadian land that burned in any other year on record. Tens of thousands of people — including most of Yellowknife, the capital of the Northwest Territories — have fled their homes. The way fires spread and grow is shaped by the structure and composition of the forests and landscape. This likelihood is at least double what it would be in a hypothetical world without human-caused climate change, they said.

Organizations: Northwest, Northwest Territories — Locations: Canada, Canadian, Yellowknife, Northwest Territories, Atlanta

☆ A Tropical Storm in August? California’s Year of Extremes Grinds On
▼ + stars: | 2023-08-19 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: +1 min

For California, where punishing droughts over the past two decades have shriveled crops and caused wells to run dry, it has been another year of extremes. It started with winter storms that drenched cities and towns, buried the Sierra Nevada in snow and caused an enormous long-vanished lake to reappear in the Central Valley. All of this is quite a turnaround from the past three years, the state’s driest on record, when officials were imposing strict controls to save water. Hilary, which forecasters say could weaken to a tropical storm by the time it makes landfall in California, has no direct meteorological connection with the storms from early this year. But, taken together, they reinforce a key maxim about the weather in California: There’s no such thing as an average year — only very wet, or very dry.

Persons: Hilary Locations: California, Sierra Nevada, Central, Southern California

☆ Top China official urges more secrecy in the country's energy sector
▼ + stars: | 2023-08-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

SHENZHEN, CHINA - MARCH 09: View of high commercial and residential buildings on March 9, 2016 in Shenzhen, China. (Photo by Zhong Zhi/Getty Images)A lead China official called for tighter secrecy in the energy sector to protect national interests against hostile foreign forces, echoing a broader crackdown impacting the country's investment landscape. Zhang urged the steps — which include preventing the leaks of key technologies in the energy sector — while citing the priority of national interests in the face of a "hostile" international landscape. "The energy transition has some contradictions and difficulties — these very often are the focus of foreign hostile forces that want to steal and attack. "The task of promoting carbon peak carbon neutrality is arduous," he warned.

Persons: Zhong Zhi, Zhang Jianhua, Zhang, Goldman Sachs Organizations: China's National Energy Administration, CNBC Locations: SHENZHEN, CHINA, Shenzhen, China

☆ Chinese are forking out more money for smartphones despite wider slowdown — that's good news for Apple
▼ + stars: | 2023-08-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese consumers are on average spending more on smartphones than ever before, according to new data, which bodes well for U.S. giant Apple in a critical market for its expensive iPhones. The average selling price of smartphones in mainland China was $450 last year and is expected to keep growing this year, market research firm Canalys said in a report last week. International Data Corporation told CNBC that the average selling price for smartphones in China was nearly $470 in the first quarter of this year, up about 5% year-on-year. The rise in ASP signals that the high-end part of the smartphone market remains resilient and that's where Apple competes. This trend is positive for Apple, which was the only vendor in the top five in China to record growth in shipments in the second quarter, Canalys said.

Persons: Canalys, Lucas Zhong, Zhong Organizations: Apple, CNBC, International Data Corporation, IDC, Apple Watch, Android Locations: China

☆ This Looks Like Earth’s Warmest Month. Hotter Ones Appear to Be in Store.
▼ + stars: | 2023-07-27 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: +1 min

Weeks of scorching summer heat in North America, Europe, Asia and elsewhere are putting July on track to be Earth’s warmest month on record, the European Union climate monitor said on Thursday, the latest milestone in what is emerging as an extraordinary year for global temperatures. Last month, the planet experienced its hottest June since records began in 1850. July 6 was its hottest day. And the odds are rising that 2023 will end up displacing 2016 as the hottest year. At the moment, the eight warmest years on the books are the past eight.

Persons: ” Petteri Taalas, El Niño Organizations: World Meteorological Organization Locations: North America, Europe, Asia, European

☆ Warming Could Push the Atlantic Past a ‘Tipping Point’ This Century
▼ + stars: | 2023-07-25 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: +1 min

The last time there was a major slowdown in the mighty network of ocean currents that shapes the climate around the North Atlantic, it seems to have plunged Europe into a deep cold for over a millennium. That was roughly 12,800 years ago, when not many people were around to experience it. A pair of researchers in Denmark this week put forth a bold answer: A sharp weakening of the currents, or even a shutdown, could be upon us by century’s end. It was a surprise even to the researchers that their analysis showed a potential collapse coming so soon, one of them, Susanne Ditlevsen, a professor of statistics at the University of Copenhagen, said in an interview. Climate scientists generally agree that the Atlantic circulation will decline this century, but there’s no consensus on whether it will stall out before 2100.

Persons: Susanne Ditlevsen Organizations: University of Copenhagen Locations: Europe, Denmark

The move, which not been reported before, is the latest in tightening scrutiny of Chinese companies' offshore listings, and comes at a time when Beijing is stepping up controls over cross-border transfer of sensitive information. The Chinese law firms acting as IPO advisors have been asked to drop such boilerplate risk disclosures, said one of the people, who declined to be identified as the discussions were confidential. China's new offshore listing rules that came into effect on March 31 forbid any comments in the listing documents that "misrepresent or disparage laws and policies, business environment and judicial situation" of China. Representatives from the CSRC's International Cooperation Department, more than 10 Chinese law firms and other government and industry bodies attended the July 20th meeting, according to one of the people. Large domestic law firms Fangda Partners, Han Kun Law Offices，and Zhong Lun Law Firm were among the attendees, said two of the sources.

Persons: prospectuses, CSRC, Han, Zhong, Han Kun, Zhong Lun, Julie Zhu, Kane Wu, Selena Li, Sumeet Chatterjee, Tomasz Janowski Organizations: China Securities Regulatory Commission, CSRC's International Cooperation Department, Fangda Partners, Zhong Lun Law, Reuters, Thomson Locations: Beijing, China, United States, The China

☆ Warburg Pincus names Asia real estate chief Perlman as president
▼ + stars: | 2023-07-19 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

July 20 (Reuters) - Private equity firm Warburg Pincus on Wednesday named its Asia head of real estate Jeffrey Perlman as successor to Timothy Geithner as president. Geithner, who was U.S. Treasury Secretary in the Obama administration and had headed the Federal Reserve Bank of New York, will become the chair of the New York-based investment firm. "Now is the ideal time to put in place a plan for the next generation of leadership at the firm," Warburg CEO Chip Kaye said. Warburg Pincus has already raised more than the targeted $16 billion in its global flagship private equity fund, said a person with knowledge of the matter. Founded in 1996, Warburg has more than $83 billion in assets under management and its portfolio spans more than 250 companies.

Persons: Warburg Pincus, Jeffrey Perlman, Timothy Geithner, Geithner, Obama, Warburg, Chip Kaye, Kaye, Perlman, Pritam Biswas, Niket, Kane Wu, Arun Koyyur Organizations: Wednesday, Treasury, Federal Reserve Bank of New, Reuters, Ou Asset Management Co, HK, Industrial Development JSC, Thomson Locations: Asia, Federal Reserve Bank of New York, York, China, Ou, Southeast Asia, Pacific, Bengaluru, Hong Kong, Lincoln

☆ The Human Age Has a New Symbol. It’s a Record of Bomb Tests and Fossil Fuels.
▼ + stars: | 2023-07-11 | by ( Raymond Zhong | More About Raymond Zhong | ) www.nytimes.com time to read: +1 min

For almost 15 years, a panel of scholars has been chewing over a big question: Has our species transformed the planet so much that we have plunged it into a new interval of geologic time? On Tuesday, the panel announced a key part of its case for declaring that we had. The group said it had chosen a secluded lake in Ontario to represent the start of Anthropocene epoch, a potential new chapter in Earth’s 4.6-billion-year history that could soon sit alongside the Cambrian, the Jurassic and the Cretaceous in marking periods of momentous planetary change. The scientists picked Crawford Lake over 11 other candidate sites because it contained the clearest and most pronounced evidence of humankind’s influence on the global geologic record, representatives for the group said at a news briefing in Lille, France. This evidence includes sharp changes in plutonium and radiocarbon from nuclear detonations, and in fly ash from accelerated burning of fossil fuels.

Persons: Crawford Organizations: Crawford Lake Locations: Ontario, Earth’s, Lille, France

Since the mid-20th century, the ground between the city surface and the bedrock has warmed by 5.6 degrees Fahrenheit on average, according to a new study out of Northwestern University. “All around you, you have heat sources,” said the study’s author, Alessandro F. Rotta Loria, walking with a backpack through Millennium Station, a commuter rail terminal underneath the city’s Loop district. “These are things that people don’t see, so it’s like they don’t exist.”It isn’t just Chicago. In big cities worldwide, humans’ burning of fossil fuels is raising the mercury at the surface. But heat is also pouring out of basements, parking garages, train tunnels, pipes, sewers and electrical cables and into the surrounding earth, a phenomenon that scientists have taken to calling “underground climate change.”

Persons: ”, Alessandro F, Rotta Organizations: Northwestern University . Locations: “, Chicago

☆ China mutual funds cut fees as regulator targets $3.7 trillion sector
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +4 min

The cuts, which the fund companies said in identical phrasing were "aimed at reducing investors' costs in managing their wealth", come after China's securities regulator on Saturday vowed to guide mutual fund fees lower. Fund management fees would be capped at 1.2% of assets and custodian fees at 0.2%, state media reported. Nevertheless, the industry collected 144.1 billion yuan in management fees in 2022, up 1.7% from a year earlier, according to TX Investment Consulting Co. FEE CUTFullGoal Fund Management Co said it would cut fees on 119 products starting Monday, while Harvest Fund Management announced cuts for 113 products. The CSRC published opinions in April last year to promote high-quality growth of the mutual fund industry.

Persons: Morningstar, Ivan Shi, China's, Warburg Pincus, Samuel Shen, Tom Westbrook, Selena Li, Muralikumar Anantharaman, Jamie Freed Organizations: China Asset Management Co, Bank of Communications Schroder Fund Management, China Securities Regulatory Commission, Ben Advisors, Investment Consulting Co, Management, Harvest Fund Management, Asset Management Co, Ou Asset Management Co, Warburg, Shanghai Securities News, Thomson Locations: SHANGHAI, SINGAPORE, China, United States, Shanghai, China's

☆ Something Was Messing With Earth’s Axis. The Answer Has to Do With Us.
▼ + stars: | 2023-06-28 | by ( Raymond Zhong | ) www.nytimes.com time to read: 1 min

Around the turn of the millennium, Earth’s spin started going off-kilter, and nobody could quite say why. For decades, scientists had been watching the average position of our planet’s rotational axis, the imaginary rod around which it turns, gently wander south, away from the geographic North Pole and toward Canada. Suddenly, though, it made a sharp turn and started heading east. Accelerated melting of the polar ice sheets and mountain glaciers had changed the way mass was distributed around the planet enough to influence its spin. Now, some of the same scientists have identified another factor that’s had the same kind of effect: colossal quantities of water pumped out of the ground for crops and households.

Persons: that’s Locations: Canada

☆ The Crises of Heat and Smoke Share a Common Thread: Climate Change
▼ + stars: | 2023-06-28 | by ( Raymond Zhong | Delger Erdenesanaa | ) www.nytimes.com time to read: 1 min

Between the dangerous heat baking Texas and the Southeast, and the wildfire smoke filling the skies throughout the Upper Midwest and into the Mid-Atlantic, people across a huge part of the United States have been seeking relief from the outside world in recent days. The two threats this week aren’t connected directly. But a common factor is adding to their capacity to cause misery. Human-caused climate change is turning high temperatures that would once have been considered improbable into more commonplace occurrences. And it is intensifying the heat and dryness that fuel catastrophic wildfires, allowing them to burn longer and more ferociously, and to churn out more smoke.

Locations: Texas, Midwest, United States

☆ Accor plans to add more than 1,200 hotels
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - Accor (ACCP.PA) plans to open more than 1,200 hotels in the next five years, increasing the number of its resorts by more than one-fifth, Europe's biggest hotel group said on Tuesday. Accor also raised its outlook at its capital markets day, forecasting its 2023 revenue per room (RevPAR) to grow by 15% to 20% amid reorganisation plans that were implemented in January. Accor said it plans to return around 3 billion euros to shareholders in that period via dividends and share buybacks. "We expect a positive share price performance today and we will probably upgrade our recommendation on Accor as the updated mid-term guidance is stronger than expected," said analyst Yi Zhong at AlphaValue. ($1 = 0.9153 euros)Reporting by Tristan Veyet and Gaëlle Sheehan in Gdansk; editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Accor, Sébastien Bazin, Yi Zhong, Tristan Veyet, Gaëlle Sheehan, Sherry Jacob, Phillips Organizations: Europe's, Barclays, Thomson Locations: Accor, AlphaValue, Gdansk

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