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☆ Why $48 billion Viking Global is focused on its talent pipeline
▼ + stars: | 2024-08-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewViking Global — the $48 billion Tiger Cub launched in 1999 — has had to replace talented people many times throughout its 25 years of existence. AdvertisementA person close to the manager told Business Insider that the manager decided to be "proactive instead of reactive" in hiring analysts for its investing teams. Viking traditionally had hired analysts after they'd spent two years in banking and another two in private equity. The person close to the firm said that underneath Walsh, portfolio manager Previn Mankodi has been promoted to deputy CIO, and Scott Zinober and Hani Sabbagh have each been bumped up to senior portfolio manager.

Persons: —, Brian Olson, David Ott, Andreas Halvorsen, Dan Sundheim, Ben Jacobs, Ning Jin, he's, they'd, Matt Sharp, Justin Walsh, Walsh, Previn Mankodi, Scott Zinober, Hani Sabbagh Organizations: Service, Tiger Cub, Business, Viking, Suvretta Locations: Suvretta Capital, Viking, China, India, France, Korea

South Korea’s military says North Korea is again flying balloons likely carrying trash toward the South, adding to a bizarre psychological warfare campaign amid growing tensions between the war-divided rivals. South Korea’s Joint Chiefs of Staff said Saturday that the winds could carry the balloons to regions north of the South Korean capital, Seoul. North Korea last flew balloons toward the South on July 24, when trash carried by at least one of them fell on the South Korean presidential compound, raising worries about the vulnerability of key South Korean facilities. The balloon contained no dangerous material and no one was hurt, South Korea’s presidential security service said. Experts say North Korea hates such broadcasts because it fears it could demoralize front-line troops and residents.

Persons: Kim Jong, Kim Organizations: Korea’s, Chiefs, Staff, Seoul City Hall, South Korean Locations: North Korea, Seoul, Gyeonggi, Pyongyang, South Korea, Korea, Washington, United States, Japan, China, North Korean, Russia

Since the arrival in late June of a foreign police force known as the Multinational Security Support (MSS) mission, criminal attacks here have slowed. But in “red zones” across the city and beyond, a new war is just beginning, as gangs test the still-forming MSS. In other words, the MSS mission has no time to lose. CNNThis mission is designed to break the mold; unlike previous peacekeeping missions in Haiti, the MSS is independent of the United Nations. To dismantle Chen Mechan,’” he said listing the nicknames of notorious Port-au-Prince gang bosses.

Persons: Prince, Toussaint Louverture, Bob Marley’s, ”, Evelio Contreras, Garry Conille –, ” –, Conille, Garry Conille, ” Conille, Prince’s Toussaint, Godfrey Otunge, he’s, Haitian National Police Rameau Normil, ” Otunge, it’s, Al, “, Lamercie, ” Estinfort, –, Mawozo, “ I’m, Lanmo, Chen Mechan, ’ ”, Biden, Haiti Dennis Hankins, CNN he’s, Hankins, ” Hankins, we’re Organizations: Prince CNN —, Haitian National Police, Multinational Security, CNN CNN, CNN, United Nations ’, UNICEF, Regional, CARICOM, State University of Haiti Hospital, “, ” Police, Planet Airways, Kenyans, Kenyan, United Nations, UN, Troops, hasn’t, Normil, Institut, MSS, US, Haitian, Haitian Justice Department, Prisons, IBESR Locations: Washington, Port, Kenya, Kenyan, Haiti, Caribbean, Florida, downtown Port, Prince, Haitian, Jamaica, Benin, Chad, Bahamas, Bangladesh, Barbados, Belize, United States, France, Canada, South Korea, Italy, India, Al Shabaab, US, city’s, Ganthier, Barbeque

☆ US to South Korea: TikTok star undergoes 15 beauty treatments in just 3 days
▼ + stars: | 2024-08-10 | by ( Steffi Cao | ) edition.cnn.com time to read: +12 min

“Getting a plane ticket to Korea to get Botox and filler done is honestly cheaper than getting it done here.”Lee undergoes a beauty treatment in South Korea. Courtesy _Lee @taxinoodle_A screenshot from Lee's TikTok video where she explains the 15 beauty treatments she had done in Seoul. Visitors and vendors discuss beauty products at the K-Beauty Expo, the largest beauty exhibition in South Korea, on October 12, 2023 in Goyang, South Korea. Courtesy _Lee @taxinoodle_Lee receives a consultation — and the requisite "before" shots to compare with post-treatment ones — at a clinic in South Korea. Courtesy _Lee @taxinoodle_Lee always gets her hair dyed ($125) in South Korea because she prefers the pricing and service.

Persons: Yerim Lee, Lee, It’s, ”, ” Lee, “ It’s, Chris Jung, Don’t, —, “, Botox, Jennie, Kim, there’s, @taxinoodle_ Yerim Lee, @taxinoodle_ Lee, TikTok, ‘ Organizations: CNN, . Visitors, Getty Images, South Korean Ministry of Health, Welfare Locations: Seoul, South Korea, New York City, Korea, _Lee, Goyang, Seoul’s Gangnam

— President Joe Biden signed the CHIPS and Science Act into law on Aug. 9, 2022, authorizing nearly $53 billion to rebuild the nation’s semiconductor industry. A Purdue University summer program gives undergrads hands-on experience in the chip-development process. The domestic semiconductor manufacturing workforce has dropped from a peak of 714,500 in 2001 to 392,100 as of July, according to government data. In addition, the CHIPS Program Office, run out of the Commerce Department, has announced major commitments for research and development, including workforce skilling, with a $5 billion package unveiled in February. Some of the students in Purdue University’s inaugural STARS program last summer, which began with about 70 trainees.

Persons: Joe Biden, Robert Zhang, doesn’t, ” Zhang, Feichi Huang, Mark Lundstrom, Purdue University Bill Wiseman, ”, Lundstrom, Sujai, Shivakumar, “, that’s, Taylor Roundtree, there’s Organizations: WEST LAFAYETTE, Purdue University, Semiconductors, Intel, Texas, STARS, Purdue, U.S, McKinsey & Co, Semiconductor Industry Association, Micron, Commerce Department, McKinsey, South, SK Hynix, Apple, Nvidia, TSMC, Center for Strategic, International Studies . Universities Locations: Ind, Syracuse , New York, Phoenix, U.S, Taiwan, Korea, Japan, Singapore, West Lafayette , Indiana, South Korean, United States, “

☆ An inside look at America’s aging ballistic missile arsenal
▼ + stars: | 2024-08-09 | by ( Oren Liebermann | ) edition.cnn.com time to read: +6 min

Underneath the blast door stands one of the most powerful weapons in the US inventory, a Minuteman III intercontinental ballistic missile. But unlike the other two parts of the triad – strategic bombers and ballistic missile submarines – the ICBM launch facilities are fixed positions. Last year, the commander of US Strategic Command told Congress that China has more land-based ballistic missile launchers than the US. Russia has been carrying out military exercises involving its tactical nuclear weapons, as President Vladimir Putin has repeatedly threatened to use nuclear weapons since invading Ukraine. That complexity, Schlabach argued, drives the need for modernizing the ballistic missile fleet.

Persons: ”, James Schlabach, Evelyn McCoy, Joseph Cambio, Nunn, McCurdy, William LaPlante, Vladimir Putin, Kim Jong Un, Antony Blinken, Schlabach, ” Schlabach Organizations: North Dakota CNN, Minuteman III, Minot Air Force Base, Minuteman, Air Force, 91st Missile, CNN, ”, Cuban Missile Crisis, The Air Force, Sentinel missile, Defense, Sentinel, Strategic Command, Congress, Soviet Union Locations: Minot, North Dakota, Dakota, it’s, Russia, China, Ukraine, Pyongyang

☆ In Paris, Breaking Is One of America’s Greatest Cultural Exports - The New York Times
▼ + stars: | 2024-08-09 | by ( Jeff Chang | Giulia Frigieri | ) www.nytimes.com time to read: +1 min

On Friday, breaking makes its Olympics debut at the Place de la Concorde in Paris. This form of dance, created by Black youths in the Bronx in the early 1970s, has traveled far from its birthplace. Support for hip-hop education in the States typically comes from nonprofit organizations, after-school programs and for-profit dance schools. Despite breaking’s American roots, it has never been institutionally supported in public schools as part of a coordinated national policy. The Lycée Turgot, a public high school housed in a majestic 19th-century building, has for the past seven years been home to France’s premier national hip-hop dance program.

Organizations: Concorde Locations: Paris, Bronx, Canada, Ukraine, Japan, South Korea, France

☆ I moved to Tokyo to open a bar last year. I'd already lived in a few cities across Asia, but moving was harder in my 30s.
▼ + stars: | 2024-08-09 | by ( Holly Graham | ) www.businessinsider.com time to read: +6 min

My next home was in Seoul, for two years, followed by a decade in Hong Kong — the one place I truly felt at home. AdvertisementI later moved on to become the managing editor of DRiNK Magazine Asia, while I was simultaneously bartending at The Old Man Hong Kong. The book caught my now-business partner's attention and recently led me to Japan to help open a bar, Tokyo Confidential, in the capital. The language barrier is different when you're living here and not just fumbling along as a tourist. The local and global reception to Tokyo Confidential, our craft cocktail bar, has been amazing, too, especially after so many people told me it wouldn't work.

Persons: —, hadn't, Hong Kong's, bartending I'd, wouldn't, they'd, Holly Graham, I'd, Graham, It's Organizations: Service, Business, Magazine, Tokyo, Tokyo Confidential Locations: Thailand, London, Seoul, Hong Kong, bartending, Magazine Asia, Asia, Japan, Tokyo, South Korea

☆ Nikkei 225: Japan stock market rally fades as fears of US economic slowdown, yen volatility return
▼ + stars: | 2024-08-08 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Meanwhile, the yen strengthened 0.6% to 146 against the US dollar, after losing nearly 2% on Tuesday and Wednesday combined. But those fears, as well as a further jump in the value of the yen, are still haunting the market. The volatility in the yen, which was at the heart of recent market turmoil, remains elevated, he added. On Monday, the Nikkei plummeted by the most since 1987, sparking a broader global market sell-off. The narrowing of the interest rate differentials, which had enabled the yen carry trade, could push the yen higher, Kuptiskevich added.

Persons: Hong Kong CNN —, Germany’s DAX, Shinichi Uchida, Uchida, ”, Stephen Innes, Alex Kuptsikevich, Masamichi Adachi, Innes, Taiwan’s Taiex, Hang Organizations: Hong Kong CNN, Nikkei, CAC, Nasdaq, Bank of Japan, Federal Reserve, FxPro, Federal, Fed, UBS, UBS Chief Investment, Kospi, Hang Seng Locations: Hong Kong, Europe, Japan, unwind

On Thursday, investors in Asia will assess trade data from Japan and interest rate decision from the Reserve Bank of India. Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers. Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India's rate decision. "Assuming that the price stability target will be achieved in the second half of fiscal 2025, the Bank should raise the policy interest rate to the level of the neutral interest rate toward that time," the summary read. Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion) of its shares as part of its efforts to boost shareholder returns.

Persons: Shinichi Uchida, Lasertec, Korea's Kospi Organizations: Reuters, The Reserve Bank of, Reserve Bank of India, Global, Bank of Japan, Dow Jones, Nasdaq, Nvidia, Nikkei, Bank, SoftBank, Semiconductor, Isuzu Motors, China's CSI, Cathay, Hong Kong's, Airbus Locations: The Reserve Bank of India, Asia, Japan, U.S, Pacific, Hong, Cathay Pacific

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Thieves are still targeting Hyundai and Kia cars but new software is stopping them
▼ + stars: | 2024-08-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

The cars in question are certain older Hyundai and Kia models made before 2023 that are particularly vulnerable to theft. So far, more than 2 million Hyundai and Kia vehicles have gotten the update, according to the automakers. By now, around 61% of eligible Hyundai vehicles have the software upgrade, a Hyundai spokesperson said. That said, not all of the vulnerable Hyundai and Kia models have the proper hardware to enable the software upgrade. For those vehicles that can’t get the software, Hyundai and Kia have been providing steering wheel locks.

Persons: ” Matt Moore, Kia —, South Korea —, Moore, Tok, ”, “ Organizations: CNN, Hyundai, Kia, Data Locations: South Korea

☆ Nikkei 225: Asian markets make solid gains following global rout
▼ + stars: | 2024-08-07 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Asian markets made solid gains Wednesday, with Japanese shares reversing early losses after a central bank official played down the prospect of an immediate hike in interest rates. The gains follow days of volatility, which saw the Nikkei suffering Monday its biggest daily loss since 1987. “We won’t raise interest rates when financial markets are unstable,” he was quoted as saying in a speech to executives in the northern Japanese city of Hakodate. The central bank has hiked interest rates twice this year in a bid to contain inflation. Decades of extremely low interest rates in Japan had seen many investors borrow cash cheaply there before converting it to other currencies to invest in higher-yielding assets.

Persons: Shinichi Uchida, Kospi, Hong, Taiex, Uchida, ”, Olesya Organizations: Hong Kong CNN, Nikkei, Bank of Japan, US, Dow, Nasdaq Locations: Hong Kong, Asia, South, Hakodate, “, Japan, Europe, London

☆ North Korea’s Kim oversees delivery of tactical ballistic missile launchers
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

SEOUL, South Korea — North Korean leader Kim Jong Un oversaw the delivery of 250 new tactical ballistic missile launchers to front-line troops, state media KCNA reported on Monday, which Seoul said could be used to threaten South Korea. The launchers have been described by state media as a modern tactical attack weapon personally designed by Kim and ready to be transferred to Korean People’s Army units on the border with the South. North Korea said it test-fired a new tactical ballistic missile last month. In a speech, Kim blamed the United States for creating a “nuclear-based military bloc” that forced his country to further strengthen military capabilities. A spokesperson for Seoul’s unification ministry handling inter-Korean affairs said North Korea’s illegal nuclear and missile programs were the primary threat to peace and stability on the Korean Peninsula.

Persons: Kim Jong Un, Kim, ” Lee Sung, joon Organizations: Korean People’s Army, ., South Korea’s, Chiefs of Staff Locations: SEOUL, South Korea, North, Seoul, . North Korea, South, United States

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

☆ To Save His Shrinking City, a Mayor Turns to Koreans Uprooted by Stalin
▼ + stars: | 2024-08-06 | by ( Victoria Kim | ) www.nytimes.com time to read: +1 min

By the time Kim Chang-gyu returned to Jecheon, South Korea, after four decades away to become the mayor, his hometown felt resigned to its decline. The town’s center was dotted with vacant storefronts, and local businessmen fretted about how tough it was to find workers. Like many other small South Korean cities, Jecheon, cradled at the foot of two mountain ranges, is being eroded by rapid aging and rock-bottom birthrates. Other shrinking cities have tried offering money to entice newlyweds or free housing to parents of school-age children. If he could persuade enough of them to move to Jecheon — population 130,000 and shrinking — he thought they might lay the groundwork for its future.

Persons: Kim Chang, gyu, cradled, Kim Locations: Jecheon, South Korea, Central Asia

☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

☆ CNBC Daily Open: Dow sheds 1,000 points, Japan stocks rebound
▼ + stars: | 2024-08-06 | by ( Abid Ali | Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow plummeted over 1,000 points, while the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively. Wharton finance professor Jeremy Siegel urged the Federal Reserve to make an emergency 75-basis-point cut in the federal funds rate following Friday's disappointing jobs data. Siegel believes the current fed funds rate "should be somewhere between 3.5% and 4%," citing the higher-than-expected unemployment rate and declining inflation as reasons for the cuts. "How much have we moved the fed funds rate?

Persons: Berkshire Hathaway, Amit Mehta, Wharton, Jeremy Siegel, Siegel, Austan Goolsbee, Goolsbee, CNBC's, Korea's Kospi, Richard Kaye Organizations: CNBC, Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Tesla, Berkshire, Google, Department of Justice, Federal Reserve, Chicago Federal, Nikkei, Honda, Renesas Electronics, CSI Locations: U.S, Asia, Pacific

☆ Breaking is making its Olympics debut in Paris. Just don’t call it breakdancing
▼ + stars: | 2024-08-06 | by ( Faith Karimi | ) edition.cnn.com time to read: +11 min

It might seem more like an artform than a sport, but breakdancing — known professionally as breaking — is making its Olympics debut this month in Paris. The Olympics adopted the same name to honor its culture and history and preserve its authenticity, Nifontov said. As breaking makes its Olympics debut, Cooper said a part of him fears it will lose some of the cultural qualities that make it a unique artform. Breaking events are scored on five factorsLike gymnastics or figure skating, breaking competitions are scored by a panel of judges. She eventually left her job at a global cosmetics company to focus on breaking and lives in New York City, where she trains.

Persons: breakdancing, Victor Montalvo, Victor, who’s, Michael Jordan, “, ” Montalvo, ”, Sergey Nifontov, James Brown, Richard Laird, Nifontov, Richard M, Cooper, ” Cooper, we’re, Brown, ” Nifontov, Robert Deutsch, Zack Slusser, Montalvo, Logan Edra, Yves Herman, it’s, …, Sunny Choi, Andrew Kelly, Jeffrey Louis, Jeffro, Louis, ” Louis, I’ll, ” Choi, I’ve, ” CNN’s Gonzalo Alvarado Organizations: CNN, CNN En Espanol, New York City, DanceSport Federation, New York City's, American Studies, Widener University, Olympics, USOC Media Summit, Paris, USA, Sports, Reuters, International Olympic, Olympic, USA’s, Team USA, University of Pennsylvania Locations: Paris, New York, China, France, Japan, Netherlands, South Korea, Ukraine, Kazakhstan, United States, New, Chester , Pennsylvania, Africa, Hollywood, Argentina, Leuven, Belgium, Mexico, New York City, Florida

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher. Japan's Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.

Persons: Topix, Korea's Kospi, Australia's, Brent Organizations: Nikkei, U.S ., Softbank Group Corp, South, South Korean, Samsung Electronics, chipmaker SK Hynix, . West Texas Locations: Ginza, Tokyo, Japan, Asia, Pacific

Former President Donald Trump on Monday continued a streak of appearances with controversial influencers, this time in a 90-minute livestream with Adin Ross. During the interview, Trump told Ross that his sons introduced the idea of the collaboration to him, touting how “big” of an influencer he was. In December 2022, Jewish and anti-hate organizations spoke out against Ross’ plans to interview Ye, the artist formerly known as Kanye West. Ross canceled the interview after a phone call with Ye, during which Ross said that Ye made anti-Jewish comments. Gavin Newsom, who Trump called “New-scum,” and Rep. Alexandria Ocasio-Cortez, D-N.Y., whose “spark” Trump praised and Ross referred to as "Alexandra Cortez."

Persons: Donald Trump, Adin Ross, Trump, Ross, YouTuber Logan Paul, JD, influencers, Kamala Harris ’, Kick’s, Ross ’, Ye, Kanye West, influencer Andrew Tate, Paul, Kim Jong, Xi, Gavin Newsom, Alexandria Ocasio, Alexandra Cortez, Elon Musk, ”, Joe Biden Organizations: Mar, YouTube, Nelk Boys, Republican, National Association of Black Journalists, Kanye, California Gov, “, X, Rolex Locations: Venezuela, Romania, North, Alexandria, Cortez, ”

This came after the Israeli military said it had struck a “terrorist cell operating a drone” in southern Lebanon after “numerous projectiles” were fired at northern Israel. Rockets fired from southern Lebanon are intercepted by Israel's Iron Dome air defence system over the Upper Galilee region in northern Israel. The killing came a day after Shukr, a senior Hezbollah leader died in an Israel airstrike on Lebanon’s capital Beirut. Israel’s military said it struck a Hamas military compound embedded in the schools. It came after an Israeli airstrike hit a tent camp inside a hospital in central Gaza earlier in the day.

Persons: Joe Biden, Jordan, Jalaa Marey, Ismail Haniyeh, Fuad Shukr, Haniyeh, Masoud Pezeshkian, Israel “, ” Israel, Shukr, ”, Menahem Kahana, Burcu Ozcelik, Mahmoud Zayyat Organizations: NBC News, Rockets, Israel's, Getty, Iran’s Foreign Ministry, Israel, Pentagon, Navy, Royal United Services Institute, NBC, Diplomats, Health Locations: Israel, Gaza, United States, Australia, France, Canada, South Korea, Saudi Arabia, Japan, Turkey, Lebanon, Beirut, Galilee, AFP, Iran, Tehran, Golan, Shams, Iraq, Syria, Yemen, U.S, Britain, Haniyeh’s, London, Lebanese, Sidon, Gaza City

☆ Japan stocks plunge as much as 7%, hovering near bear market territory, as Asia shares extend sell-off
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +2 min

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.

Persons: Topix, “, Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S

☆ Markets Around the World Are Rattled by Fears of Slowing U.S. Growth
▼ + stars: | 2024-08-05 | by ( Daisuke Wakabayashi | More About Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

A sell-off in markets around the world turned into a rout on Monday as investors grew panicky about signs of a slowing American economy, with stocks tumbling across Asia. The declines were especially pronounced in Japan, where the Topix index, which includes companies that represent a broad swath of the country’s economy, fell 12.2 percent. The decline at one point triggered a “circuit breaker” mechanism that halts trading to let markets digest large fluctuations. The Nikkei 225 index, considered the benchmark in Japan, also fell 12.4 percent. South Korea’s benchmark Kospi index fell more than 10 percent, triggering its own halt in trading.

Organizations: Equity, Nasdaq Locations: Asia, Japan, Taiwan, Singapore, Australia, Hong Kong, Europe, United States

☆ I spent two months working on a farm in South Korea for free lodging and food. It was hard work, but I saved at least $2,000.
▼ + stars: | 2024-08-05 | by ( Erin Liam | ) www.businessinsider.com time to read: +5 min

But eight days before I headed to South Korea, a host texted me, asking, "Hey, are you still free?" He needed volunteers for his chestnut farm on the outskirts of Cheongyang, a village two hours from Seoul. AdvertisementI didn't know what to expect on the farmAfter finishing tasks on the farm, volunteers often take quick naps during their lunch breaks. Tim WinklerIt was a nice working atmosphere and there was no pressure to finish tasks by a certain time. AdvertisementThere was no set schedule on the farmWinkler said that no two days on the farm were the same.

Persons: —, Tim Winkler, I'd, I've, Winkler, we'd Organizations: Service, University of Hamburg, Business Locations: Germany, Bangkok, Asia, South Korea, Japan, Seoul, Cheongyang, Spain, Scandinavia

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