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☆ In the fight against slowing growth, Netflix and its rivals are all in this together
▼ + stars: | 2023-01-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

For the past three years, the global media and entertainment industry has been defined by the streaming wars. Last year, the streaming wars didn't end, but a metaphorical meteor approached the entertainment world in the form of slowing growth. Read more: Netflix founder Reed Hastings is giving up his CEO roleMedia companies have, at least momentarily, found themselves fighting against a common enemy – streaming subscriber fatigue. The old media world was defined by Netflix disrupting the legacy industry. Now, as Netflix goes, so goes the media world.

☆ India is set to become the world’s most populous country. Can it create enough jobs?
▼ + stars: | 2023-01-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —India will overtake China this year to become the world’s most populous country. That’s because India is simply not creating employment opportunities for the millions of young job seekers already entering the workforce every year. A huge crowd thronged India Gate on New Year's Eve on December 31, 2022 in New Delhi, India. The country needs to create at least 90 million new non-farm jobs by 2030 to absorb new workers, according to a 2020 report by McKinsey Global Institute. But, according to a former central banker, even this growth is “insufficient.”“A lot of this growth is jobless growth.

☆ Mystery solved! We identified the big chonky ring that Sam Bankman-Fried wore to court.
▼ + stars: | 2023-01-05 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

On his right ring finger was a big honking metal ring. Indeed, the ring appears to be an MIT class ring, also known as the "brass rat." The beaver design for the MIT class ring, taken from the school's mascot, dates to 1930. The chair of the 2014 ring committee didn't immediately respond to Insider's request for comment for this story. A representative for Bankman-Fried responded to Insider's request for comment and confirmed Bankman-Fried was wearing an MIT class ring.

Leaving parliament on Saturday, Rabuka told waiting media he was humbled to have become the prime minister of Fiji before being rushed away to be sworn in by the country's president. Biman Prasad, leader of the NFP and the new finance minister, said the incoming government would work for the Fijian people. The prime ministers of both New Zealand and Australia released statements to congratulate the newly sworn-in Rabuka. "We strongly value Fiji as a close friend and partner as we progress our shared priorities for the region," New Zealand Prime Minister Jacinda Ardern said. Anthony Albanese, Australia's prime minister, added in a tweet that he also looked forward to working with Rabuka.

Nanjing, a historic city in eastern China, vowed to ensure daily supplies of fever medicines. The rapid spread of the virus across China has left many pharmacies sold out of medication to treat COVID-19. A major Chinese pharmaceutical company said this week that it expects the shortage of fever medicines to ease soon as manufacturers ramp up production. The Haikou-based drug manufacturer said there was a “short-term” shortage of its fever and cold medicines mostly due to hoarding. Tech giant Tencent announced this week that it had rolled out a program via its social messaging app Wechat allowing people to share surplus fever medicines.

☆ Richard Branson's Virgin Orbit gets green light for first orbital space launch from UK — and will use a repurposed Boeing 747 for the mission
▼ + stars: | 2022-12-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Richard Branson's Virgin Orbit gained a license for the first orbital space launch from the UK. The Civil Aviation Authority (CAA), the UK's space regulator, announced in a statement on Wednesday that Virgin Orbit was permitted to launch from Spaceport Cornwall in southern England. Issuing the final license to Virgin Orbit for the UK's first orbital satellite launch was another "major milestone," the CAA said in the statement. Virgin Orbit didn't respond to Insider's request for comment about the new launch date. Virgin Orbit has named the mission "Start Me Up" after a song by The Rolling Stones.

Krystal Rolle, a lawyer who has represented Bankman-Fried on other matters in the Bahamas, told Reuters Bankman-Fried had decided to consent to be extradited to the United States. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. During Monday's hearing, Bankman-Fried, dressed in a dark blue jacket and an untucked white shirt, spoke only to greet Magistrate Shaka Serville and confirm he would speak with his U.S. counsel. Roberts told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. When the hearing concluded, Bankman-Fried was given the chance to speak on the phone with his U.S. defense lawyer with Roberts present.

☆ Fiji national election a tight race in early provisional counting
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +4 min

[1/2] Voters queue at a polling station to vote during the Fijian general election in Suva, Fiji, December 14, 2022. Bainimarama is in a tight race against another former coup leader and one-time prime minister, Sitiveni Rabuka, whose People's Alliance Party has formed a coalition with Fiji's oldest political party, the National Federation Party. The election office said result updates were put "temporarily on hold" shortly before 11 p.m., and later said its election results app, used by the public, had errors. Bainimarama's Fiji First supporters campaigned on stability and progress, while the opposition said national debt was too high and questioned the state of democracy, he said. A multinational observer group led by Australia, India and Indonesia includes 90 election observers who are also monitoring the national vote counting centre.

All 23 analysts and economists polled by Reuters on Monday predicted that Russia would keep its benchmark rate unchanged (RUCBIR=ECI) again on Friday. There is no intrigue surrounding Friday's rate decision, said Dmitry Polevoy, head of investment at Locko Invest. "The 7.5% rate is unlikely to be changed and the neutral signal maintained," he said. Annual inflation slowed to 11.98% in November, partly due to the strong rouble and weak demand. "Inflation is slowing down now, but not sharply," said Andrei Dyuryagin, investments director at MKB Investments.

☆ Morning Bid: Powerless
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Treasury yields are up, the dollar is standing firm after its biggest rally in two weeks and risk-off sentiment is holding sway. For the euro zone, however, there is little in the way of good news. Industrial orders data from Germany, the biggest economy in the euro zone, is the only economic indicator worth watching on Tuesday. Chairman Axel Lehmann told media the embattled bank is "definitely stable" and has seen a stabilisation in client funds outflows.

☆ Australia 'Teacher's Pet' podcast subject gets 24-year sentence for 1982 murder
▼ + stars: | 2022-12-02 | by ( Alasdair Pal | ) www.reuters.com time to read: +2 min

The cold case against Christopher Dawson was reopened after the 2018 podcast put pressure on the police to revisit their investigation. A 2003 inquest had recommended charging Dawson with his wife Lynette's murder but prosecutors declined, citing a lack of evidence. "Our system of justice and our democracy is based upon the presumption of innocence," he told media on Friday. "We respect and thank Judge Harrison for his sentence, and hope Chris Dawson lives a long life in order to serve that sentence," he told media. Dawson, now 74, claimed his wife had left him - a defence that Harrison said was fanciful.

☆ Landslide kills at least 14 attending funeral in Cameroon capital
▼ + stars: | 2022-11-27 | by ( Amindeh Blaise Atabong | ) www.reuters.com time to read: +1 min

YAOUNDE, Nov 27 (Reuters) - A landslide in Cameroon's capital Yaounde on Sunday killed at least 14 people who were attending a funeral, the region's governor said. Dozens of people were attending a funeral on a soccer pitch at the base of a 20-metre high soil embankment, which collapsed on top of them, witnesses told Reuters. Yaounde is one of the wettest cities in Africa and is made of dozens of steep, shack-lined hills. Heavy rains have triggered several devastating floods throughout the country this year, weakening infrastructure and displacing thousands. Reporting by Amindeh Blaise Atabong; Writing by Cooper Inveen; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

More than 22,000 homes were destroyed and over 58,000 people have been displaced, BNPB Major General Suharyanto said on Tuesday. “The majority of those who died were children,” West Java’s governor, Ridwan Kamil, told reporters Monday, adding the death toll was likely to increase further. “So many incidents occurred at several Islamic schools.”Villagers salvage items from damaged houses following a 5.6-magnitude earthquake in Cianjur on November 22, 2022. “We hug each other, strengthen each other, and continue to pray.”Municipality officers in Cianjur evacuate an injured colleague following the earthquake. Workers inspect a school damaged in the earthquake in Cianjur, West Java.

☆ Murdoch deal will struggle to be fair and balanced
▼ + stars: | 2022-11-17 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

A decade ago, Murdoch split his movies-to-books empire because it had become too broad and complex. As it stands, both $16 billion Fox and $10 billion News Corp suffer from significant valuation discounts, partly due to their common owner’s grip. It owns roughly 62% of Australian housing portal REA, a stake worth $6.7 billion based on its Wednesday closing price in Sydney. On the same 16 times multiple as New York Times (NYT.N), it would be worth about $8 billion. Rupert Murdoch and his family trust control about 42% of Fox voting shares and 39% of News Corp voting shares.

☆ G20 host Indonesia has 'strong impression' Putin will skip Bali summit - FT
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Nov 8 (Reuters) - Russian President Vladimir Putin may miss next week's G20 leaders summit, his Indonesian counterpart Joko Widodo and host of the bloc of major economies told media on Monday. Joko said a conversation with Putin last week left him with a "strong impression" the Russian leader would not attend the meeting in Bali, which is expected to be dominated by tensions over Russia's invasion of Ukraine. Indonesia has also invited Ukrainian President Volodymyr Zelenskiy, who has said he will not take part if Putin does. Several other world leaders, including U.S. President Joe Biden and Chinese President Xi Jinping, are expected to attend. Additional reporting by Ananda Teresia; Writing by Kanupriya Kapoor; Editing by Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

The truce has raised hopes humanitarian aid can start moving back into a region where hundreds of thousands face famine. Representatives of Ethiopia's military and government and forces from Tigray are in the Kenyan capital Nairobi to discuss how to begin implementing the ceasefire, with the talks set to last three or four days. Getachew Reda, spokesman for the Tigray authorities, said the talks were to figure out implementation of the agreement. In a statement on Monday, the AU said it expected the outcomes of the talks to "include modalities for silencing the guns, humanitarian access and the restoration of services in the Tigray region". The ceasefire agreement says Ethiopia's army will safeguard the country against "foreign incursion" but analysts are worried about whether Eritrea - the TPLF's sworn enemy - will listen.

☆ Former U.S. military pilot arrived in Australia from China weeks before arrest - lawyer
▼ + stars: | 2022-11-04 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, Nov 4 (Reuters) - A former United States military pilot arrested in Australia and facing likely extradition to the United States on undisclosed charges had arrived from China weeks before and interacted with Australian intelligence agencies, his lawyer said on Friday. Consequently Reuters was unable to determine the specifics of Duggan's case, or why he may have interacted with Australian intelligence. "He denies having breached any U.S. law, any Australian law, any international law," Miralis said outside the court. He said the United States should not make an extradition request to Australia until this complaint was resolved. Under Australia's extradition treaty with the United States, an extradition request must be made within 60 days of arrest.

New Delhi CNN Business —Foxconn, one of Apple’s largest suppliers, is wrestling with major disruption at its biggest iPhone assembly factory in China, as anxious workers reportedly flee the facility, according to social media videos. “[We] fully understand your eagerness to go back home,” Foxconn told its employees over the weekend, according to a post on Zhengzhou government’s official WeChat account. The Zhengzhou campus is the world’s biggest iPhone factory and typically accounts for as much as 85% of iPhone assembly capacity, according to Lam’s estimates. State media has said that many Foxconn workers are among those walking miles to escape the city. While these disruptions will impact iPhone production in the near term, analysts say it may not dent Apple’s iPhone shipments in the key holiday season.

Sam Zimmerman, AMC NetworksZimmerman. AMCWant to break bread with Zimmerman, VP of programming at AMC Networks' horror destination, Shudder? One of the first original documentary projects he commissioned for Shudder was "Horror Noire," focused on Black stories and creators. Zimmerman oversees a team of creatives who acquire and develop feature films and television series. "She taught me a lot about building audiences for films and when they'll reject new discoveries," Zimmerman said.

☆ South Korea, U.S. in 'intense conversation' over EV tax credits, trade ambassador says
▼ + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to the county's trade ambassador Tuesday. "We are in very intense conversation at the moment," Cho said Tuesday following the groundbreaking of a $5.5 billion electric vehicle plant by Hyundai Motor Group near Savannah, Georgia. Under the IRA, plug-in electric vehicles much be produced in North America to qualify for the tax incentives. U.S. Deputy Secretary of Commerce Don Graves during the event on Tuesday called South Korea a strong trade partner, but did not comment on the Inflation Reduction Act. Last week, U.S. Trade Representative Katherine Tai spoke with Korea's Minister for Trade Ahn Dukgeun about the IRA.

☆ Fact Check-California teen’s death linked to fentanyl, not COVID-19 vaccine
▼ + stars: | 2022-10-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Claims that the death of a 17-year-old girl in Fullerton, California was caused by the COVID-19 vaccine are unsupported by evidence. Trinity Cornejo’s mother has publicly pointed to a fentanyl overdose being the probable cause of her death. Now that the CDC has, incredibly, added the mRNA jab to the childhood schedule; watch the body count accelerate,” reads a tweet (here). Reuters has previously debunked claims about the COVID-19 vaccine and child mortality (here) (here) (here). According to news reports citing her family, evidence so far points to a fentanyl overdose as the cause of death of Trinity Cornejo, a 17-year-old girl in Fullerton California.

Since then, the central bank has cut rates six times, most recently to 7.5% last month. Register now for FREE unlimited access to Reuters.com RegisterTwenty-two of 26 analysts and economists polled by Reuters on Monday predicted that Russia would keep its benchmark rate unchanged (RUCBIR=ECI) on Friday. President Vladimir Putin's partial mobilisation order and subsequent declaration of martial law in four partly-occupied regions of Ukraine that Russia says it owns have exacerbated geopolitical risks. Economic activity slowed significantly at the end of September, the central bank said this month. "Stimulating growth of retailer and corporate lending by lowering the rate is currently pointless, in my view."

☆ The world's largest jet engine maker confirms it won't develop supersonic engines for Boom, leaving the startup with few options
▼ + stars: | 2022-10-21 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

CFM International told media on Sunday that the company has no plans to build a supersonic engine for Boom. Colorado-based startup Boom Supersonic is developing an ultra-high-speed jet, known as Overture, that could catapult travelers from New York to London in less than four hours. But, there is one problem — no engine makers want to help Boom create a supersonic engine. Engine maker Rolls-Royce was at one point a contender, having signed an "engagement agreement" with Boom in 2020 to look into a supersonic engine. However, if Boom is able to pull off creating a supersonic engine, it could give the company a big advantage in the industry.

Czech markets were jolted on Wednesday on news the government could widen its proposed tax on excessive profits to include 2022 earnings, earlier than existing plans applying only to 2023-2025. Stanjura told reporters after the government met that the cabinet still leaned towards putting the windfall tax in place for 2023, calming markets somewhat. A government source had earlier said legal implications for the tax were still being considered. The windfall tax should be imposed on banks with more than 6 billion crowns ($240 million) of net interest income in 2021. A windfall tax would help cover protective measures such as a cap on electricity prices.

Newly elected Senate Speaker Ignazio La Russa gives his first speech in the upper house of parliament in Rome, Italy, October 13, 2022. REUTERS/Yara NardiROME, Oct 13 (Reuters) - Italy's new rightist coalition got off to an inauspicious start on Thursday when it split over the election of the Senate speaker, who clinched the post despite a revolt by Silvio Berlusconi's Forza Italia party. The right-wing bloc, which includes Brothers of Italy, Forza Italia and Matteo Salvini's League, have promised to bring political stability to the country after years of short-lived governments. "I will try with all my efforts to be the speaker for everybody," La Russa told the senators, as opposition chiefs denied they were responsible for his election. Former businessman Carlo Calenda, leader of the centrist Action party, denied his senators provided La Russa with the votes he needed.

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