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☆ Gold set for worst week in six as U.S. yields surge before jobs data
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. Spot gold was little changed at $1,935.07 per ounce by 0412 GMT, while U.S. gold futures rose 0.1% to $1,970.30. Gold prices have declined more than 1% so far this week, having slipped to their lowest level since July 11 in the last session. U.S. long-term Treasury yields climbed to their highest since November on Thursday after employment and other economic data pointed to easing inflation. Non-farm payrolls, or NFP, data due at 1230 GMT will be the next focus for further clues about the U.S. economy's strength.

Persons: Tim Waterer, it's, Kelvin Wong Organizations: Aurum, KCM, of England, European Central Bank Locations: Asia Pacific

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

☆ Chinese millennials are freaking out about the 'Curse of 35' — when they become too old for entry-level jobs, and too young and broke to retire
▼ + stars: | 2023-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

"You're too old to work at 35, but too young to retire at 60," one person wrote, bemoaning the "curse." It refers, specifically, to the typical Chinese employer's preference for hiring workers who haven't reached the sell-by date of their 35th birthday. And it's not just about finding work — Chinese workers being phased out at what was previously viewed as the prime of their careers means their livelihoods could be seriously affected. "At this point in time, youth unemployment is high, so many young workers are willing to work for less. Seah told Insider that increased competition for younger workers "will eventually drive up youth wages, making them relatively more expensive to hire."

Persons: haven't, Hector Retamal, Huang, Tania Lennon, Lennon, I, Kevin Frayer, workhorses, Kelvin Seah, Seah, aren't, National University of Singapore's Seah Organizations: Twitter, Service, Getty, Peterson Institute for International Economics, International Institute for Management Development, China Initiative, Bureau of Statistics, National University of Singapore, National Bureau of Statistics, Employers, National University of Singapore's Locations: China, Wall, Silicon, Weibo, Beijing, AFP, Quy Huy

☆ Tupac Shakur’s self-designed ring becomes most expensive hip-hop artifact sold at auction
▼ + stars: | 2023-07-27 | by ( Christy Choi | ) edition.cnn.com time to read: +2 min

CNN —Late rapper Tupac Shakur’s gold, ruby and diamond crown ring fetched more than $1 million on Tuesday, becoming the most valuable hip-hop artifact ever sold at auction, according to Sotheby’s. From left: Snoop Doggy Dogg and Tupac Shakur show off their rings DMI/The LIFE Picture Collection//ShutterstockThe ring was designed over several months after the rapper signed with Death Row Records following a prison sentence of which he served eight months. It was modeled after the crowns of Europe’s medieval kings in “an act of self-coronation,” said Shakur’s godmother Yaasmyn Fula, who brought the ring to auction, according to a Sotheby’s press release. The ring on display ahead of Tuesday's hip-hop-themed auction. The wooden box, painted in the artist’s classic cartoonish style, sold within estimate at $76,200.

Persons: Tupac Shakur’s, Shakur, “, Kidada Jones, Quincy Jones, Snoop, Tupac Shakur, ”, Yaasmyn, De La Soul’s Kelvin Mercer, Alexi Rosenfeld, KAWS, UNKLE, James Lavelle, Wu, Tang, Bill Sienkiewicz, EPMD’s Organizations: CNN Locations: New York, “, York, American

After a five-month pause, the BoC raised its overnight rate in June, saying monetary policy was not sufficiently restrictive. "If new information suggests we need to do more, we are prepared to increase our policy rate further," BoC Governor Tiff Macklem told reporters after the decision. The BoC's overnight target rate was last at 5.00% in March and April of 2001. Twenty of 24 economists surveyed by Reuters had expected the central bank to lift rates by a quarter of a percentage point. Money markets had seen a more than a 70% chance of a rate hike before the announcement.

Persons: Derek Holt, Andrew Kelvin, Steve Scherer, Ismail Shakil, Fergal Smith, Divya Rajogopal, Nivedita Balu, Paul Simao, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, BoC, Scotiabank, Reuters, TD Securities, Thomson Locations: Canada, Toronto

☆ Opinion: The Supreme Court rewrites American society once again
▼ + stars: | 2023-06-30 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +25 min

But learning the facts - that affirmative action is critical for fostering equal access and opportunity in our academic institutions -cemented my belief that affirmative action is necessary if we want to create an equitable nation. The court’s decision Thursday is consistent with its view that race-based preferences should and would have a limited shelf life. Jon Wang, who revealed himself as a plaintiff in this Supreme Court case, was rejected by Harvard but was accepted at and is now attending Georgia Tech. Affirmative action enabled my ability to experience different ways of thinking and to form the lasting friendships I have made. Affirmative action has been a tool used by many countries to ensure underrepresented communities are included in areas they normally are not.

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☆ All this AI hype could be distracting us from serious economic threats in the US
▼ + stars: | 2023-06-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Moving forward, we'll be highlighting the latest markets news in our daily flagship newsletter, Insider Today — be sure to sign up. The excitement around ChatGPT, AI, and related tech stocks is old news now, but Wall Street can't stop talking about it. Elon Musk, Nouriel Roubini, and a chorus of Wall Street firms have issued dire warnings. The country's slowing trade, weak industrial production numbers, and piling debt all ultimately present problems for Wall Street, which may be catching on to the risk. What do you see as the connection between economic troubles and AI hype?

Persons: Phil Rosen, —, It's, Pepper, Paco Freire, that's, Zahra Tayeb, Elon Musk, Roubini, Kelvin Wong, Angela Weiss, Wagner, Vladimir Putin, Gary Black's, Goldman Sachs, Morgan Stanley's Adam Jonas, Jason Ma, Jack Sommers Organizations: Getty, Nvidia, Federal, Street, Wall, Nasdaq, Carnival plc, Harvard, Elon Locations: New York, China, America, Los Angeles, London

OTTAWA, June 7 (Reuters) - The Bank of Canada on Wednesday hiked its overnight rate to a 22-year high of 4.75%, and markets and analysts immediately forecast yet another increase next month to ratchet down an overheating economy and stubbornly high inflation. Noting an uptick in inflation in April and the fact that three-month measures of core inflation remained high, the Bank of Canada (BoC) said that "concerns have increased that CPI inflation could get stuck materially above the 2% target." However, Canada Finance Minister Chrystia Freeland said the economic rebound from the COVID-19 pandemic and Russia's invasion of Ukraine has been stoking price increases. "To bring demand lower, which is the bank's goal to achieve their 2% inflation target, we just simply need more tightening." The BoC said it would continue to assess economic indicators going forward to see if they "are consistent with achieving the inflation target."

Persons: Derek Holt, Paul Beaudry, Canada's, Pierre Poilievre, Justin Trudeau, Chrystia Freeland, Andrew Kelvin, Steve Scherer, David Ljunggren, Fergal Smith, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, Canadian, Scotiabank, BoC, Conservative Party, Liberal, Canada Finance, TD Securities, Thomson Locations: British Columbia, Ukraine, Canada, Toronto

☆ How the costumes of ‘American Born Chinese’ straddle fantasy and reality
▼ + stars: | 2023-05-27 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +6 min

CNN —“American Born Chinese,” the new Disney+ show based on Gene Luen Yang’s graphic novel of the same name, transports viewers to two distinct realms: Heaven, via iconic Chinese mythology, and Earth, via an American high school. The first centers on Jin Wang (Ben Wang), a Chinese American teenager at a mostly White high school. One of the storylines of "American Born Chinese" is rooted in classic Chinese mythology. But having so much Chinese and Chinese American representation on screen and behind the scenes proved immensely helpful. Sally Woo, a Chinese American costumer on the show, told Cretton stories about the Monkey King she heard from her mother and grandmother, and shared other media adaptations of “Journey to the West” for inspiration.

Persons: CNN —, Gene Luen, Joy Cretton, You’re, Jin Wang, Ben Wang, Jin, Wei, Chen, Jimmy Liu, Carlos Lopez, Disney Wei, Cretton, Sun Wukong, Daniel Wu, –, ”, Huy Quan, Freddy Wong, Cretton –, Maui –, Sally Woo, King, “, ” Cretton, Kelvin Yu, Bull, – Cretton, Phillip Lim, Prabal Gurung, Sun, Michelle Yeoh, Mercy, Lim, Yeoh Organizations: CNN, CNN — “, Disney, “, diamante Locations: United States, American, Disney, Chinatown, Los Angeles, California, Maui, Heaven

☆ Nigeria to commission Dangote refinery, crude supply a concern
▼ + stars: | 2023-05-22 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +3 min

Despite being Africa's biggest oil producer, Nigeria imports petrol, diesel and processed petroleum products because its refineries were run down over the years. The refinery needs a constant supply of crude but Nigeria's oil production has been declining due to oil theft, vandalism of pipelines and underinvestment. Lower production would affect state-owned oil company NNPC Ltd's ability to fulfil an agreement to supply Dangote refinery with 300,000 bpd of crude, said economist Kelvin Emmanuel, who authored a report on oil theft last year. "There are risks with supply of crude oil feedstock. Energy Aspects, however, said in the long run, the Dangote refinery could end Nigeria's gasoline deficit, reshape the Atlantic basin gasoline market and export diesel that meets European Union specifications.

☆ Southeast Asia’s worst-performing stock market is UBS’s ‘top pick’
▼ + stars: | 2023-05-22 | by ( Audrey Wan | ) www.cnbc.com time to read: +3 min

Pita Limjaroenrat, leader of Move Forward Party, attends a press conference of the Thai pro-democracy parties in Bangkok. While the benchmark SET index initially rose when the results came through, but eventually gave up those early gains. In fact, Thai stocks are the worst performers in Southeast Asia this year, but Tay says Thailand is his "top pick" in the region. Thailand's SET index is down 9.22% this year, the biggest laggard in the broader Asia Pacific region. The Move Forward party has called for reforms to the monarchy, including changing its defamation law.

☆ China's property market recovery needs to be more 'broad-based,' UBS says
▼ + stars: | 2023-05-18 | 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 EmailChina's property market recovery needs to be more 'broad-based,' UBS saysKelvin Tay of UBS Global Wealth Management says the sector's recovery is, at the moment, confined to China's Tier-1 cities and government-backed developers.

☆ Opinion: The dubious MLK Jr. quote about Malcolm X
▼ + stars: | 2023-05-15 | by ( Opinion Peniel E. Joseph | ) edition.cnn.com time to read: +10 min

Martin Luther King Jr. and Malcolm X, long a contentious backdrop to the history of civil rights and anti-racist activism in America, is under new scrutiny after the bombshell news that a quote denigrating Malcolm X, published in Playboy and attributed to King, is apparently fraudulent. This new information adds to the ongoing rethinking of the relationship between King and Malcolm X. Of course, this is not to suggest that we stop teaching “The Autobiography of Malcolm X” since all memoir and autobiography is an act of literary creation. The complexity of his relationship to Malcolm X is handled judiciously. Balancing the bitter and beautiful parts of the relationship between King and Malcolm X helps us come to terms with past and contemporary historical traumas.

Thailand was the most popular outbound destination for Chinese travelers during the May labour day holiday, data from website Trip.com showed, followed by Japan and South Korea. "There is definitely demand from China for properties in Thailand," said Mesak Chunharakchot, the president of the Thai Real Estate Association. "Chinese are buying houses, sending their children to international schools and having their parents come stay in Thailand to take care of the grandkids." Nearly 270,000 Chinese tourists visited Thailand in March, government data shows, a three-year high, though well below the figure of 985,227 in March 2019, before the pandemic took hold. Therefore some would sell one of the houses in China and buy a property here for retirement."

☆ Oil ticks up, but set for third week of losses over demand concerns
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. For the week, Brent was set to close down 8.5%, while WTI was set to close 10.3% lower. "It has been a double whammy for oil prices," said Jun Rong Yeap, a market strategist at IG in Singapore. In China, factory activity unexpectedly contracted in April as orders fell and poor domestic demand dragged on the sprawling manufacturing sector. Service activity in China grew through April, though the rate of this expansion has slowed, data showed on Friday.

☆ Adele Roberts: Radio DJ breaks record for fastest woman with an ileostomy to run the London Marathon
▼ + stars: | 2023-04-24 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —British radio presenter Adele Roberts became the fastest woman to complete the London Marathon with an ileostomy, running the distance in just over three and a half hours on Sunday. The Guinness World Records awarded Roberts with a framed certificate at the finish line, writing on Twitter: “Adele Roberts completed the fastest marathon with an ileostomy (female) in 3:30:22. “Thank you to every single person who has helped make today possible,” Roberts wrote on Instagram after the race. “This means I currently have no use of my large colon,” Roberts wrote on her fundraising page. Roberts was one of thousands of runners to complete the London Marathon on Sunday which raised millions for charitable causes.

☆ London Marathon: Sifan Hassan lays claim to being greatest female distance runner with thrilling victory
▼ + stars: | 2023-04-24 | by ( George Ramsay | ) edition.cnn.com time to read: +4 min

That’s precisely what Sifan Hassan did in the London Marathon on Sunday, though her stunning, chaotic victory in the women’s race was anything but straightforward. Hassan (center left) passes Big Ben on her way to an unexpected victory in London. Rather than making a long-term commitment to the marathon, Hassan thought she would test herself over the longer distance and still race on the track this summer. “I was telling myself that I’m stupid that I decided to run the marathon,” said Hassan. Prior to that, she broke the 23-year-old mile world record at the start of 2019 and won 1,500 and 10,000-meter golds at the world championships a few months later.

☆ Farah says Great North Run will be his final race
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

April 24 (Reuters) - Britain's four-times Olympic champion Mo Farah said he will end his athletics career at the Great North Run in September. Farah finished ninth in his final marathon in London on Sunday, clocking 2:10:28 - nine minutes behind winner Kelvin Kiptum. The 40-year-old will compete at the 10km Great Manchester Run on May 21 before the Great North Run half-marathon on Sept. 10. The Great North Run is going to be my last ever run and that will be my goodbye. Farah has won the Great North Run six times.

☆ Bob Lee killing suspect Nima Momeni is being monitored while in jail, but suspect's lawyer says calling it 'suicide watch' is 'dramatic'
▼ + stars: | 2023-04-19 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Nima Momeni is in jail on a murder charge in the stabbing of Cash App founder Bob Lee. His lawyer told Insider that Momeni was placed "in a safety protocol." Wu did not immediately respond to a follow-up inquiry on the circumstances that might have placed Momeni under watch. Lee was fatally stabbed on San Francisco street in the early morning of April 4. Prior to the stabbing, Lee was staying at 1 Hotel San Francisco, just a few blocks from Khazar's apartment.

☆ U.S. Fed might start talking about living with a higher inflation target next month, UBS says
▼ + stars: | 2023-04-19 | 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 EmailU.S. Fed might start talking about living with a higher inflation target next month, UBS saysKelvin Tay of UBS Global Wealth Management says "communication has always been the Federal Reserve's way of managing market expectations and managing the market itself."

UFC 287 live stream quick links US: ESPN+ ($80 plus $10/month membership)UK: BT Sport (£30/month)Main card start time: 10 p.m. How to watch UFC 287 in the USYou can watch the main event of UFC 287 on ESPN+ at 10 p.m. Ways to save on the UFC 287 pay-per-view priceIf you plan on signing up for ESPN+ to watch UFC 287, you can snag a special discounted bundle. How to watch UFC 287 in CanadaIn Canada, UFC 287 will be available to watch from multiple pay-per-view TV providers, including Bell, Rogers, Shaw, and Telus. Here's the fight card for UFC 287: Pereira vs. Adesanya 2ESPNEarly Prelims — 6 p.m.

The economy gained a net 34,700 jobs, almost entirely in the private sector, and the unemployment rate held steady at 5.0%, Statistics Canada reported. Analysts surveyed by Reuters had forecast that a net 12,000 jobs would be gained in March and the unemployment rate would edge up to 5.1%. Since December, the jobless rate has stayed just a notch above the record low of 4.9% observed in mid-2022. Thursday's jobs figures as well as robust GDP data released last week are likely to complicate the central bank's plans to avoid further rate moves. There were 18,800 full-time jobs added in the month, and 15,900 part-time jobs.

☆ How the US Army's Best Ranger competition uses days of grueling challenges to find the military's best 2-man team
▼ + stars: | 2023-03-31 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

US troops will gather in Georgia in April for the US Army's Best Ranger Competition. The Best Ranger competition is organized and run by the US Army in conjunction with the National Ranger Association. 101st Airborne Division soldiers compete in the Best Ranger Competition at Fort Benning in April 2022. David DumasThe Best Ranger competition typically starts strong with a 10-mile run followed by a swim event and an obstacle course. 10th Mountain Division soldiers complete a casualty evacuation lane during the Best Ranger Competition in April 2022.

☆ Price hikes are double whammy for pet owners who are crushed by inflation
▼ + stars: | 2023-03-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —As head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter. And the shelves at PAWS Atlanta’s Pet Food Pantry quickly go bare. She said her pet food costs for Lola, her Australian Shepherd mix, and for Phoebe, her Golden Retriever, have doubled to $250 per month. Josh Fiala, Animal Rescue League of Iowa's Pet Support Services Manager, helps load pet food into a vehicle during a Pet Food Pantry in January 2022. Courtesy Animal Rescue League of IowaARL gave out about 40,000 pounds of pet food in both 2020 and 2021.

Quantum computers, based on quantum physics, have the potential one day to complete some calculations millions of times faster than the most powerful supercomputer today. One challenge is that quantum processors with quantum bits, or qubits, often need to be stored at very cold temperatures near zero Kelvin, or -273.15 Celsius. On the other hand, classical computers operate in more moderate temperatures. SEEQC has also built its quantum computer this way and is now trying to modify it with its new chips. Today's superconducting quantum computers have hundreds of qubits, but some estimate thousands, or even a million could be needed to create a quantum computer to run useful algorithms.

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