DIRS.INFO The most relevant business & tech news

☆ Asia's edge isn't just cheap labor, whether it's China, India or Japan, KKR says
▼ + stars: | 2023-10-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note. That investment conclusion comes after a recent trip to Singapore, China and Japan by New York-based Henry H. McVey, chief investment officer of KKR Balance Sheet. "The bid for infrastructure and logistics could accelerate even more meaningfully, we believe, in key markets such as India, China, Indonesia, the Philippines, Vietnam and even Japan," the KKR report said. That includes a $2 billion acquisition of a Mitsubishi-backed real estate manager in spring 2022.watch now"I think there are two big megathemes in Japan," KKR's McVey said in an interview Thursday. The other big trend in Japan, McVey said, is corporate reform that's boosting shareholder returns.

Persons: Henry H, McVey, Frances Lim, KKR's McVey, Fumio, haven't, Warren Buffett, Lim didn't, There's, Nisha Awasthi, Lim Organizations: Visual China, Getty, BEIJING, KKR, Mitsubishi, Hitachi Transport System, Logisteed, Hyatt Regency, Gaw Capital Partners, Wednesday, China Locations: China, Haikou, Hainan, India, Japan, Asia, Singapore, New York, Indonesia, Philippines, Vietnam, Hyatt Regency Tokyo, Gurugram, BlackRock, Mumbai, Pacific, Beijing, Hong Kong, Seoul, Shanghai, Sydney, Tokyo

☆ North Korea halts nuclear reactor, likely to extract bomb fuel - report
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

[1/2] A North Korean nuclear plant is seen before demolishing a cooling tower (R) in Yongbyon, in this photo taken June 27, 2008 and released by Kyodo. The operation of the 5 megawatt nuclear reactor at the Yongbyon nuclear complex has been suspended since late September, according to intelligence assessment by U.S. and South Korean authorities, the report said. Reprocessing of spent fuel rods removed from a nuclear reactor is a step taken before plutonium is extracted. The Yongbyon nuclear complex is the North's main source of plutonium that it likely has used to build nuclear weapons. North Korea claims itself a nuclear state but has kept how many nuclear weapons it may have built or deployed a secret.

Persons: Kim Jong Un, Jack Kim, Lincoln Organizations: Kyodo ., Donga Ilbo, Thomson Locations: Korean, Yongbyon, Kyodo . North Korea, SEOUL, North Korea, Korea, Korea's

An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order, on the man-made Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. "The (investigation into Hui) clearly shows that Chinese policymakers prioritise political considerations to economic ones in dealing with Evergrande," he said. Evergrande and China's housing authority did not immediately respond to requests for comment during the week long National Day holiday. Gavekal in its report said that at the very least, an orderly restructuring of Evergrande seemed increasingly hard to achieve. A liquidation petition filed against Evergrande is scheduled for hearing in a Hong Kong court on Oct 30.

Persons: Aly, Hui Ka Yan, Hui, Xin Sun, Evergrande, Christopher Beddor, Sandra Chow, bondholder, Antonio Fatas, Xie Yu, Clare Jim, Kane Wu, Sumeet Chatterjee, Lincoln Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, lurched, East Asian, King's College London, SOE, Evergrande, Thomson Locations: Danzhou, Hainan province, China, HONG KONG, Beijing, homebuyers, Asia, Pacific, Gavekal, Hong Kong, Evergrande

☆ Abercrombie & Fitch says it is 'appalled' by allegations against former CEO Mike Jeffries
▼ + stars: | 2023-10-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNN —Abercrombie & Fitch says it has launched its own investigation into allegations originally published by the BBC that the company’s former CEO, Mike Jeffries, exploited men for sex. “We are appalled and disgusted by the behavior described in the allegations against Mr. Jeffries, whose employment with Abercrombie & Fitch Co. ended in 2014, nearly ten years ago. At least some of the parties are alleged to have occurred while Jeffries was the CEO of Abercrombie & Fitch. Jeffries’ attorney, Brian Bieber, provided a response to CNN to the BBC report, saying that “Michael is 79 years old and retired. In years past, he has chosen not to comment on media reports, documentaries, and stories of any kind as they relate to his personal life - and does not plan on doing so now.”Mike Jeffries, former Abercrombie & Fitch CEO, photographed in November 2005.

Persons: Fitch, Mike Jeffries, Jeffries, “, Matthew Smith ., Jeffries ’, Brian Bieber, Michael, ” Mike Jeffries, Michael Loccisano, ”, – Organizations: New, New York CNN, Abercrombie, BBC, Abercrombie & Fitch Co, CNN, Abercrombie & Fitch, Fitch, Brothers Laundry Service, The New York Times, & $ Locations: New York, Black

APOPKA, Fla. (AP) — An 11-year-old who is accused of taking a gun from his mother's vehicle and shooting two teens following an argument at football practice will remain in custody for three more weeks, a judge in Florida ruled Wednesday. The child began sobbing after the judge ruled against a request for home detention, Orlando television stations reported. But he told WESH-TV in Orlando that the shooting stemmed from bullying, a scenario supported by a police report. Surveillance video showed one of the victims chasing the 11-year-old before the shooting, according to an arrest affidavit. The mother told detectives she didn't see her son grab the gun, which she said had been stored in a gun box underneath the front passenger seat.

Persons: Robert Mandell, WESH, “, ” Mandell, ”, Mike McKinley, Arnold Palmer Organizations: Orlando, Associated Press, Apopka Police Department, Police, Arnold Palmer Hospital for Children Locations: Fla, Florida, Orlando

☆ Sen. Bob Menendez's current wife killed a man while driving in New Jersey in 2018, records show. Body camera footage shows her telling police she 'didn't do anything wrong.'
▼ + stars: | 2023-10-04 | by ( Rebecca Cohen | John L. Dorman | ) www.businessinsider.com time to read: +2 min

Nadine Arslanian hit a man who was jaywalking, NorthJersey.com reported, citing a police report. Now Arslanian Menendez, she was never charged in the case, the local paper reported. AdvertisementAdvertisementNadine Arslanian was involved in a fatal car accident in December 2018, NorthJersey.com reported on Wednesday. A police report said Arslanian struck and killed a man while driving her Mercedes-Benz on Main Street in Bogota, New Jersey, on December 12, 2018, the local paper reported. NorthJersey.com reported that she asked why Koop was in the road in the first place and then said that she "didn't do anything wrong."

Persons: Sen, Bob Menendez's, Nadine Arslanian, NorthJersey.com, Arslanian Menendez, —, Arslanian, Bob Menendez, Menendez, Richard Koop, Koop Organizations: Service, Mercedes, Benz, Bogota Police Department, Senate, The New York Times, Name Medical Locations: Bogota , New Jersey, Bogota, New Jersey

PwC’s annual report on the South African mining industry said global drops in some commodity prices following the COVID-19 pandemic contributed to the reduced profits. But so did South Africa’s local challenges of currency fluctuations, high inflation, power blackouts and logistical problems in exporting minerals because of deteriorating road, rail and port infrastructure. South Africa has an opportunity to benefit from that demand, which also would need millions of dollars in investment, the report said. “This presents several opportunities for South Africa which could reshape industries, diversify the economy and drive future prosperity." The output from South Africa’s 130-year-old gold mining industry has been slumping for more than 20 years.

Persons: Andries Rossouw, PwC, Rossouw Organizations: McKinsey & Company, ” Mining, South African Revenue Service, AP Locations: CAPE, South Africa, Ghana, South America, Africa, African, africa

☆ Sen. Bob Menendez's wife Nadine Arslanian's fatal crash in Bogota, New Jersey, seen in newly-released video
▼ + stars: | 2023-10-04 | by ( Erin Snodgrass | Sebastian Cahill | ) www.businessinsider.com time to read: +3 min

Footage obtained by News 12 New Jersey shows the fatal crash involving Nadine Arslanian and a pedestrian. Arslanian, who is now married to Sen. Bob Menendez of New Jersey, was not charged in the incident. AdvertisementAdvertisementNewly released footage shows the moment Sen. Bob Menendez's now-wife Nadine Arslanian fatally hit a pedestrian in her Mercedes-Benz on a New Jersey street in December 2018. JUST IN: News 12 New Jersey has obtained security video from a 2018 incident where Sen. Menendez's wife Nadine Arslanian struck and killed a pedestrian. The security footage shows a car barreling into a person who appears to be standing in the street.

Persons: Nadine Arslanian, Sen, Bob Menendez, —, Bob Menendez's, Menendez's, VoyQH7weel, Arslanian, Menendez, Richard Koop Organizations: Bob Menendez of New, Service, Mercedes, Benz, New, Bogota Police Department, Prosecutors Locations: Jersey, Bob Menendez of, Bob Menendez of New Jersey, New Jersey, Bogota, Bergen County , New Jersey

☆ Tank battles in Ukraine are putting several generations of 'crappy Russian armored vehicles' and their flaws on display
▼ + stars: | 2023-10-04 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +11 min

AdvertisementAdvertisementT-72s, T-80s, and T-90sUkrainians load a Russian T-72 onto a truck outside Izyum in September 2022. It also has a coaxial 7.62 mm machine gun mounted in the hull and a 12.7mm heavy machine gun on the turret. AdvertisementAdvertisementUS soldiers examine a Ukrainian T-80 tank during an exercise in September 2014. AdvertisementAdvertisementA Danish instructor leads a Ukrainian tank crew and translators through training on a Leopard 1A5 in Germany in May. AdvertisementAdvertisementA Ukrainian Leopard 1 tank crew at a test site in Ukraine in September.

Persons: —, ANATOLII STEPANOV, ALEXANDER ZEMLIANICHENKO, Sean Gallup, Uralvagonzavod, Russia hasn't, Sven Creutzmann, Barry Posen, John Moore, Posen Organizations: Service, Getty, REUTERS, NATO, Soviet, Massachusetts Institute of Technology, MIT, LB, Leopard 2A5, Royal United Services Institute, 47th Mechanized Brigade Locations: Ukraine, Russia, Soviet, Russian, Izyum, AFP, Moscow, Ukrainian, Kharkiv, Syria, Poland, Soviet Union, Germany, Posen, Spain, Norway, Canada, Portugal, Denmark, Sweden, British

WASHINGTON (AP) — For much of the world, China’s Xinjiang region is notorious, a place where ethnic Uyghurs face forced labor and arbitrary detention. The trip is an example of what Washington sees as Beijing’s growing efforts to reshape the global narrative on China. Chinese President Xi Jinping has demanded that China tell its story to the world so Beijing would be trusted and respected. In Xinjiang, Beijing has brought in diplomats and foreign journalists on tightly orchestrated trips with minders in tow. While the State Department report focused on Beijing's global influence efforts outside the United States, its findings are similar to those documented in the U.S. by think tanks and advocacy groups.

Persons: ”, Jamie Rubin, Liu Pengyu, Xi Jinping, Yi Fan, Sarah Cook, Glenn Tiffert Organizations: WASHINGTON, State Department, Engagement, Embassy, China, United Nations, Global Times, China News, Senate Intelligence, Freedom, Hoover Institute Locations: Xinjiang, Beijing, China, United States, U.S, Washington, ” Beijing, Asia, Africa, Latin America, Hong Kong, Ukraine, Moscow, Iranian, Western, Taiwan

He suggested the more immediate reason for the unrest was less long-time grievances related to the Palestinian national cause and more Gaza's economic misery. "The protests are about money," said the Israeli official, speaking on condition of anonymity due to the topic's sensitivity. FRAGILE CEASEFIREA recent International Monetary Fund report said that for any stable long-term economic recovery in Gaza, "lifting of the blockade and easing of the Israeli-imposed restrictions are essential". With an official unemployment rate in Gaza of over 46%, Hamas itself has faced rumbling discontent over its economic management although for its part, the movement blames the Israeli blockade for the enclave's economic woes. Last month, Israel imposed a brief blockade on exports from Gaza after inspectors said they uncovered an attempt to smuggle explosives into the West Bank.

Persons: Gaza's, Al, Bassem Naim, Bilal Al, Najar, Bashir Al, Nidal al, James Mackenzie, Mark Heinrich Our Organizations: Hamas, West Bank, Monetary Fund, Unipal Company, Thomson Locations: Israel, GAZA, Gaza, Al Aqsa, Egypt, Jerusalem, Lod, Gaza's

☆ Why now is a good time time to buy property in New York City
▼ + stars: | 2023-10-04 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +3 min

AdvertisementAdvertisementBuying a home in New York City may get a smidge easier this fall. The New York City market is correcting itself, Douglas Elliman agent Frances Katzen told Insider. "It's the old adage, opportunity and location, location, location. AdvertisementAdvertisement"If you told someone that they could buy a townhouse in New York City for $3.9 million, they would basically say never," Katzen said. The New York City market had a quieter third quarter this year, with sales in Manhattan dropping 33.2%, from 11,111 to 7,421, in 2022.

Persons: Douglas Elliman, —, Manhattan's, Douglas, Frances Katzen, Katzen Organizations: Service, New, Rocket Homes, New York, Boston Locations: New York, Manhattan, New York City, York, West, Los Angeles, San Francisco, Florida, Tampa, Miami

☆ Canada wants private talks with India to resolve diplomatic spat
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsOct 3 (Reuters) - Canada wants private talks with India to resolve a diplomatic dispute over the murder of a Sikh separatist leader, Foreign Minister Melanie Joly said on Tuesday, after a report said India had asked the country to withdraw 41 diplomats. India has told Canada that it must repatriate the diplomats by Oct. 10, according to the Financial Times. We take Canadian diplomats' safety very seriously and we will continue to engage privately because we think diplomatic conversations are best when they remain private," Joly told reporters. The Financial Times said India had threatened to revoke the diplomatic immunity of the 41 diplomats told to leave if they remained after Oct. 10. India suspended new visas for Canadians on Sept 22 and asked Ottawa to reduce its diplomatic presence in the country.

Persons: Narendra Modi, Justin Trudeau, Adnan Abidi, Melanie Joly, Joly, Hardeep Singh Nijjar, Trudeau, Subrahmanyam Jaishankar, Jahnavi, David Ljunggren, Steve Scherer, Christian Schmollinger, Robert Birsel, Ed Osmond, Deepa Babington Organizations: Indian, Canadian, REUTERS, Financial Times, Indian High Commission, Thomson Locations: Hyderabad, New Delhi, India, Canada, Ottawa, Bengaluru

NEW DELHI (AP) — South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels, the World Bank said on Tuesday. At almost 6% this year, the region is growing faster than all other emerging markets, said Franziska Ohnsorge, the organization's chief economist for South Asia. “While high inflation and interest rates have bogged down many emerging markets, South Asia seems to be forging ahead,” the World Bank noted in its report. Per capita incomes in South Asia are around $2,000 — one-fifth of the level in East Asia and the Pacific region. Ohnsorge said that governments in South Asia could improve fiscal conditions by seizing on opportunities for energy transition, which could create jobs, reduce reliance on energy imports and cut pollution levels.

Persons: Franziska Ohnsorge, ” Ohnsorge, Ohnsorge Organizations: DELHI, World Bank, IMF, Bank Locations: South Asia, Asia, East Asia, India, Maldives, Nepal, Sri Lanka, South

☆ North Korea slams US for labelling it as 'persistent threat'
▼ + stars: | 2023-10-03 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

People attend a mass rally denouncing the U.S. in Pyongyang, North Korea, June 25, 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). SOUTH... Acquire Licensing Rights Read moreSEOUL, Oct 4 (Reuters) - North Korea criticised a new U.S. strategy on countering weapons of mass destruction for describing the reclusive state as among those it considers a "persistent threat," KCNA media reported on Wednesday. North Korea last week adopted a constitutional amendment to enshrine its policy on nuclear force, as leader Kim Jong Un pledged to accelerate production of nuclear weapons to deter what he called U.S. provocations, according to state media. Any use of nuclear weapons by Pyongyang will bring the regime to an end, the ministry added, echoing President Yoon Suk Yeol's remark last month. The U.S. Department of Defense's unclassified version of its "2023 Strategy for Countering Weapons of Mass Destruction" said "North Korea, Iran and violent extremist organizations remain persistent threats as they continue to further pursue and develop WMD capabilities".

Persons: KCNA, Kim Jong Un, Yoon Suk, Kim Yung, Hyunsu Yim, Grant McCool, Gerry Doyle Organizations: North, Korean Central News Agency, REUTERS, South, North Korean, U.S . Department, Thomson Locations: Pyongyang, North Korea, SEOUL, U.S, United States, South Korea, North Koreans, Korea, Iran, China, Russia, Germany

☆ US passenger railroad Amtrak high-speed Acela program facing new delays
▼ + stars: | 2023-10-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

An Amtrak Acela train arrives at New York's Penn Station, the nation's busiest train hub, in New York City, U.S., May 25, 2017. The Amtrak inspector general in a report on Tuesday said the program faces further delays because the new Amtrak trains have not met Federal Railroad Administration (FRA) requirements and all of the trainsets produced so far have defects. The report added the likeliest cause of more delays would be a lack of a validated trainset model, followed by certain trainset defects. Alstom said it is working with the FRA to meet requirements "through their first-ever safety certification for high-speed trains." Congress approved $66 billion for rail as part of the 2021 infrastructure bill, with Amtrak receiving $22 billion.

Persons: Mike Segar, David Shepardson, Mark Porter, Josie Kao Organizations: Amtrak, Station, REUTERS, Rights, Alstom, Federal Railroad Administration, FRA, Thomson Locations: New, New York City, U.S, Boston, Washington

☆ Revolut strikes share deal with SoftBank to remove barrier to UK licence - FT
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. Revolut and SoftBank had been locked in months of negotiations, with the Japanese investor demanding stiff compensation for giving up its priority class of shares, the report said. The fintech startup can only win a UK banking license if it gets rid of preference shares held by investors including SoftBank. The standoff was one of the reasons Revolut could not immediately get a banking license. The BOE and SoftBank did not immediately respond to Reuters' requests for comment on the report, while Revolut and the FCA declined to comment.

Persons: Issei Kato, Revolut, SoftBank, The BOE, Akanksha, Maju Samuel Organizations: SoftBank, REUTERS, Financial Times, Bank of England, Tiger Global Management, Balderton, Ribbit, Financial, Authority, The, Thomson Locations: Tokyo, Japan, TCV, Bengaluru

☆ Meta floats charging $14 a month for ad-free Instagram or Facebook in Europe - WSJ
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

Meta AI logo is seen in this illustration taken September 28, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsOct 2 (Reuters) - Meta Platforms (META.O) is considering charging $14 per month for ad-free subscriptions to Instagram or Facebook for European users, according to a proposal submitted to regulators, the Wall Street Journal reported on Monday. Under the plan, Meta has told regulators it would charge users roughly 10 euros ($10.46) a month on a desktop for a Facebook or Instagram account, and roughly 6 euros for each additional linked account, the report said. On mobile devices, the price would jump to roughly 13 euros a month because Meta would factor in commissions charged by Apple's and Google's app stores on in-app payments, WSJ reported. ($1 = 0.9557 euros)Reporting by Jyoti Narayan in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Meta, Apple's, Jyoti Narayan, Sonia Cheema Organizations: REUTERS, Wall Street, Thomson Locations: Europe, Bengaluru

☆ ByteDance's valuation slumps to $223.5 bln - The Information
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: 1 min

The ByteDance logo is seen at the company's office building in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 2 (Reuters) - Short video app TikTok parent ByteDance was valued at $223.5 billion in a new employee share buyback, about 26% lower than a year ago, the Information reported on Monday. The company did not immediately respond to a Reuters request for comment outside of normal business hours. ByteDance is planning to buy at least $300 million worth of stock from current and former U.S. employees, the report said. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Niket, Shinjini Organizations: REUTERS, Thomson Locations: Shanghai, China, Bengaluru

☆ India's Adani Group to build 10 GW solar manufacturing capacity by 2027 - ET
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo/File Photo Acquire Licensing RightsBENGALURU, Oct 2 (Reuters) - India's Adani Group plans to build 10 gigawatts (GW) of integrated solar manufacturing by 2027, more than double its current capacity, the Economic Times reported, citing news agency PTI. The conglomerate owned by Indian billionaire Gautam Adani produces solar photovoltaic cells or solar PVs through Adani Solar, with a manufacturing capacity of 4 GW. Adani Solar has confirmed orders worth over 3,000 megawatts (MW), the report said, citing sources. India's current annual solar panel manufacturing capacity of 32 GW per annum falls short of the required 52 GW.

Persons: Amit Dave, Gautam Adani, Nandan Mandayam, Shailesh Organizations: Adani, REUTERS, Rights, Economic Times, PTI, Barclays, Deutsche Bank AG, Thomson Locations: Ahmedabad, India, Bengaluru

☆ Kenya panel urges shutdown of Worldcoin's crypto project within country
▼ + stars: | 2023-10-02 | by ( Duncan Miriri | ) www.reuters.com time to read: +2 min

Worldcoin was rolled out in various countries around the world by Tools for Humanity, a company co-founded by OpenAI CEO Sam Altman. The project still has a virtual presence in Kenya and can be accessed via the Internet, even after the August suspension. It also called for the suspension of the companies' "physical presence in Kenya until there is a legal framework for regulation of virtual assets and virtual services providers." The panel also asked government ministries to develop regulations for crypto assets and firms that provide crypto services and called on the police to investigate Tools for Humanity and take any necessary legal action. Reporting by Duncan Miriri; Editing by Aaron Ross and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Sam Altman, Duncan Miriri, Aaron Ross, Hugh Lawson Organizations: REUTERS, Humanity Corp, Kenyan, Humanity, Communications Authority, Humanity GmbH, National Assembly, Thomson Locations: Berlin, Germany, NAIROBI, Britain, France, Kenya

☆ China new home prices tick up in Sept, ending four-month decline - survey
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +2 min

Prices rose 0.05% on average from the previous month after falling since May, according to a survey by China Index Academy, a real estate research firm. Confidence in the property sector, which accounts for one-fourth of economic activity, has been hit since 2021 when Beijing cracked down on debt accumulation by developers, fuelling a debt crisis. Deepening problems in the sector this year have dragged on the world's second-biggest economy and rattled global financial markets. These policies have given major cities like Beijing a tiny boost in new home sales, but some worry the improvement might be short-lived and could potentially dry up demand in smaller cities. If such policies continue to be optimised, the report said, the market in first-tier cities are likely to stabilise this quarter while recovery in smaller cities might take longer.

Persons: Brenda Goh, Liangping Gao, William Mallard Organizations: China Index Academy, China Evergrande, HK, Thomson Locations: SHANGHAI, Beijing, China

☆ China's big 'Golden Week' is here. Three hot destinations for spending — and a stock with 95% upside
▼ + stars: | 2023-10-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Whether it's by train or by car, hundreds of millions of people are traveling around mainland China for a holiday called Golden Week. From the Mid-Autumn Festival on Friday, Sept. 29, to the following Friday, the break runs for an entire week to celebrate China's National Day. Morgan Stanley analysts like Hong Kong-listed CTG Duty Free , China's state-owned duty-free retail giant. Within China, domestic hotel room rates are still above 2019 levels, Morgan Stanley analysts said. On the macro front, if tourism pans out as expected this Golden Week, it will give a much-needed lift to China's the economy overall.

Persons: Morgan Stanley, They're, Oliver Wyman, Oliver Wyman's, BlackPink, Atour, — CNBC's Michael Bloom Organizations: Bank of America, Hong, Golden, MGM China, Wynn Macau Locations: China, Hong Kong, Hainan, Macau, U.S

☆ Walmart changes pay and titles for corporate staff, Wall Street Journal reports
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsCompanies Walmart Inc FollowSept 30 (Reuters) - Walmart (WMT.N) corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company's workforce, the Wall Street Journal reported on Saturday. Starting in November, many corporate workers at Walmart and Sam's Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay, the report added. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report said. The change is "good compensation hygiene," and ensures Walmart is "appropriately rewarding similar levels of work," Lupo said. Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers.

Persons: Kamil Krzaczynski, Kim Lupo, Lupo, Gursimran Kaur, Andrea Ricci, Marguerita Choy Organizations: REUTERS, Walmart, Wall Street, Sam's, Base, Workers, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

Sept 30 (Reuters) - A semi-truck carrying thousands of gallons of a toxic substance crashed in southern Illinois, and the multi-vehicle accident killed five people and left five seriously injured, officials said on Saturday. Early estimates indicated that 4,000 gallons were spilled, leading to about 500 people being evacuated from the area, the Illinois Environmental Protection Agency said. The accident led to an evacuation within a mile's radius of the crash due to the plume from ammonia leak, state police said. Illinois State Police said it was notified about the crash "involving multiple vehicles, including a semi-truck that is leaking anhydrous ammonia." Reporting by Kanishka Singh in Washington; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Louis, Kanishka Singh, Leslie Adler Organizations: Illinois Environmental Protection Agency, U.S . National Transportation Safety Board, Illinois State Police, Occupational Safety, Health Administration, OSHA, CBS, Thomson Locations: Illinois, Teutopolis, Effingham County, St, Washington

Search resuls for: "Port Said"

25 mentions found