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☆ Lawyers exit Hong Kong as they face campaign of intimidation
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +18 min

The event that precipitated his hasty departure, Vidler said, was the appearance of articles in the state-backed media in Hong Kong about him. “This was in my view state-sponsored intimidation and harassment,” said Vidler, whose wife and children later left Hong Kong. One Hong Kong solicitor who has relocated to England told Reuters that she knew of at least 80 Hong Kong lawyers who had moved to Britain since the security law was imposed in June 2020. Another lawyer, now living in Australia, estimated that several dozen Hong Kong lawyers had moved there. Mainland officials have long sought influence over these two influential bodies, according to senior Hong Kong lawyers.

☆ Investors should look to 'good quality corporate debt and gold' in 2023, strategist says
▼ + stars: | 2022-12-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Brendan McDermid | ReutersLONDON — As fundamentals hold up and tight financial conditions weigh on stock markets, corporate debt and gold could be strong investment options in 2023, according to Michael Howell, managing director at CrossBorder Capital. A slowing economy, tightening financial conditions and rising yields might typically prompt greater stress in the corporate debt markets and a higher rate of delinquencies. So, this time, corporate debt markets are actually in a reasonably good shape, so that is an area that I would suggest is not a bad area for 2023." "The economy didn't turn until the end of 2001...the corporate debt market picked up prior to that, around about Q2, Q3 [second, third quarter] of 2001. "Where you want to be positioned next year is good quality corporate debt and gold."

☆ Frogs freeze their bodies and platypuses detect electric fields: Here are 10 incredible ways animals survive treacherous environments
▼ + stars: | 2022-12-19 | by ( Molly Sequin | Yelena Dzhanova | ) www.businessinsider.com time to read: 1 min

Wood frogs freeze their bodies. Nikola SolicTo survive the winter, up to 60 percent of Alaskan wood frogs' bodies freeze solid. This allows them to survive temperatures as low as -80 degrees Fahrenheit. To achieve this semi-frozen state, the frogs build up high concentrations of glucose (up to 10 times the normal amount) in their organs and tissues. The sugar solutes act as "cryoprotectants," preventing their cells from shrinking or dying.

☆ New Zealand economy grows strongly in Q3, but recession clouds ahead
▼ + stars: | 2022-12-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Dec 15 (Reuters) - New Zealand's economy grew strongly in the third quarter as its international borders fully reopened and travel spending rose sharply, while increased spending in the construction sector boosted building and engineering activity. Official data out on Thursday showed gross domestic product (GDP) rose 2.0% in the September quarter, more than double forecasts for a 0.9% gain and improving on the revised 1.9% rise seen in the second quarter. Annual growth jumped to 6.4%, as healthcare, travel and construction all saw significant growth, while gains were influenced down by the timing of various lockdowns in comparative periods. The strong growth looks set to fade, however, with expectations the central bank’s aggressive tightening cycle will push the economy into a recession next year. On Wednesday, the Treasury forecast the country would see three quarters of negative growth starting in the second quarter of next year, while the Reserve Bank of New Zealand is even more pessimistic, having forecast a year-long recession beginning in the second quarter of next year.

☆ U.S. dollar likely to remain strong in 2023 amid recession fears
▼ + stars: | 2022-12-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

NEW YORK, Dec 8 (Reuters) - A breathtaking surge in the U.S. dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades. Investors flocked to the dollar — a popular destination during uncertain times — to shelter from market volatility spurred by surging global inflation, spiking energy prices and Russia’s invasion of Ukraine. A stronger dollar makes U.S. exporters' products less competitive abroad while hurting U.S. multinationals that need to exchange their earnings into dollars. REUTERS/Lee Jae-Won/File PhotoNike (NKE.N), IBM (IBM.N) and Meta Platforms (META.O) were among the broad range of companies that warned of a hit from a stronger dollar this year. Nearly 80% of strategists polled by Reuters said there was little scope for dollar upside based on monetary policy.

☆ Recession worries could support dollar after monstrous 2022 rally
▼ + stars: | 2022-12-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A stronger dollar makes U.S. exporters' products less competitive abroad while hurting U.S. multinationals that need to exchange their earnings into dollars. Nike (NKE.N), IBM (IBM.N) and Meta Platforms (META.O) were among the broad range of companies that warned of a hit from a stronger dollar this year. The dollar's rally shaved about 8% from S&P earnings in 2022, according to Tom Lee, head of research at Fundstrat Global Advisors. Whether the dollar's decline continues may depend on the Fed's ability to contain inflation enough to eventually ease monetary policy. Nearly 80% of strategists polled by Reuters said there was little scope for dollar upside based on monetary policy.

☆ With tension rising in the Pacific, US special operators have a new goal: Creating 'multiple dilemmas' for China
▼ + stars: | 2022-12-08 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

US special operators are aiming to create "multiple dilemmas" for China, SOCOM's commander says. Multiple dilemmasUS Navy SEALs, Philippine Navy special operators, and Australian special-operations soldiers during an exercise in Palawan in April. 1st Class Jared N. GehmannUS special operators need to continue "developing and strengthening the partner and ally piece that's a comparative and competitive advantage for this nation," Fenton said. Moreover, US special operators have been working closely with all US military branches to better understand how those branches operate and how SOCOM can support them in a conflict with China. The Pentagon's top special-operations official said in May 2021 that special operators could be "a key contributor" to resisting a Chinese attempt to seize Taiwan.

☆ China Covid restrictions: Protesters win a partial victory as cities start to loosen controls
▼ + stars: | 2022-12-05 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

Following protests nationwide, some local Chinese authorities have started to ease Covid restrictions – in what appears to be a shift toward gradual reopening as the country nears entering the fourth year of the pandemic. “I feel like everyone’s hard work is paying off,” said a protester who took part in a demonstration in Beijing. “Policy flip-flop is common.”In some cities, the partial relaxation has caused confusion and chaos on the ground. In Beijing, public venues such as shopping malls and office buildings still require a 48-hour negative Covid test for entry. I don’t celebrate, I just remember those brave friends with gratitude,” a Beijing resident posted on Weibo, in a reference to the protesters.

☆ Tasmanian tiger: Lost remains of last thylacine found hiding in plain sight
▼ + stars: | 2022-12-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

CNN —For decades, nobody knew where the remains of the last thylacine, or Tasmanian tiger, were located. It turns out they were hiding in plain sight – at the Tasmanian Museum and Art Gallery (TMAG), in the Australian island state, where they had been unidentified for more than 80 years. That meant researchers and staff at the museum were wholly unaware of the significance of the thylacine in their collection. A thylacine displayed at the Australian Museum in Sydney, Australia, in 2002. The remains are now on display in the museum’s thylacine gallery for public viewing.

☆ Analysis: Saudi prince seeks Mideast leadership, independence with Xi's visit
▼ + stars: | 2022-12-04 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +7 min

The Saudi government did not respond to requests for comment on Xi's visit and its agenda. It is China's top oil supplier, although fellow OPEC+ producer Russia has increased its Chinese market share with lower-priced fuel. The Chinese delegation is expected to sign dozens of agreements with Saudi Arabia and other Arab states covering energy, security and investments, diplomats have told Reuters. U.S. officials have declined to comment when asked about Saudi-China bilateral relations ahead of Xi's visit. "The relationships with China pale versus those with the United States in terms of both complexity and intimacy," he said.

☆ BlackRock unit tells investors it's time for a new portfolio playbook
▼ + stars: | 2022-12-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Work your cash; buy bonds Chaudhuri said it was time to rethink the role of bonds, as a higher-rate environment sees fixed income yields rise. BlackRock also said investors can earn income in the "comparative safety" of cash-like instruments through ultra-short duration securities. Reallocate away from growth stocks Growth stocks, such as Big Tech, were an investor favorite in an era of low rates. But this year, tech stocks have been among the worst-performing sectors . Live with inflation Inflation is set to stick around, given the continued strength coming from services and shelter, according to BlackRock.

☆ Stellantis to reorganise European dealer network from July 2023
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 24 (Reuters) - Franco-Italian carmaker Stellantis (STLA.MI) said on Thursday it would reorganise its European dealers' network in July next year, starting from Austria, Belgium, Luxembourg and the Netherlands. As part of its efforts to cut costs and support investment for electrification, Stellantis last year said it would end all current sales and services contracts with European dealers for all of its 14 brands, from June 2023. Uwe Hochgeschurtz, Stellantis' chief operating officer for the 'Enlarged Europe' area, said the group aimed to promote a "sustainable" distribution model and all stakeholders would benefit. Stellantis said it ran a comparative economic simulation showing that, under the new planned distribution model, dealers would enjoy "at least equivalent profitability" and reduced exposure to risks. A spokesman for the company said Stellantis' light commercial vehicle brands would enter the new distribution structure from Jan. 1, 2024.

[1/2] Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman Al Saud arrives to attend the APEC Leader's Informal Dialogue with Guests during the APEC 2022 in Bangkok, Thailand, 18 November 2022. U.S. Secretary of State Antony Blinken said on Tuesday the immunity decision did not speak to a review of Washington's relationship with Saudi Arabia, which was ongoing. HISTORIC LOWSaudi ties with the United States and the wider West are still at a historic low point. When Saudi Arabia consequently took its security into its own hands with its war in Yemen, it saw Western criticism as hypocritical. Saudi Arabia would likely still prefer to have a U.S. security umbrella.

☆ Prehistoric humans were surprisingly creative cooks
▼ + stars: | 2022-11-22 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —Stone Age cooks were surprisingly sophisticated, combining an array of ingredients and using different techniques to prepare and flavor their meals, analysis of some the earliest charred food remains has suggested. (From left) Breadlike food was found in Franchthi Cave in Greece; pulse-rich food with wild peas was uncovered in Shanidar Cave in northern Iraq. The charred food remains from Franchthi Cave dated from 12,000 years ago, when it was also occupied by hunter-gatherer Homo sapiens. Much research on prehistoric diets has focused on whether early humans were predominantly meat eaters, but Kabukcu said it was clear they weren’t just chomping on woolly mammoth steaks. A Neanderthal hearth was unearthed at Shanidar Cave, where charred plant remains were also found.

☆ Chimpanzees could share another behavior trait with humans
▼ + stars: | 2022-11-18 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +6 min

The closest cousin of humans, this species of great ape has effective ways of communicating what it needs. Show-and-tellFiona had been engaged in what researchers call “leaf grooming,” a common behavior in which a chimpanzee will stroke and manipulate a leaf. Slocombe and her team always maintain a 23-foot (7-meter) distance when observing the chimpanzees in the wild, so as to not disturb them. This standard practice rules out the possibility that the behavior was learned from humans. She hopes it will encourage those who work with chimpanzees, in the wild or in captivity, to look out for more examples.

☆ Russian missiles cross into Poland during strike on Ukraine, U.S. official tells AP
▼ + stars: | 2022-11-15 | by ( ) www.cnbc.com time to read: +7 min

A second person confirmed that apparent Russian missiles struck a site in Poland about 15 miles from the Ukrainian border. It was Russia's biggest barrage yet, and some of the missiles crossed into Poland, where two people were killed, according to a U.S. official. A Russian missile barrage on the Ukrainian power grid sent the war spilling over into neighboring countries Tuesday, hitting NATO member Poland and cutting electricity to much of Moldova. It reported massive power outages after the strikes knocked out a key power line that supplies the small nation, an official said. At least a dozen regions reported power outages, affecting cities that together have millions of people.

☆ KFC's Middle East and North Africa franchisee sets price range for IPO
▼ + stars: | 2022-11-14 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

DUBAI, Nov 14 (Reuters) - Americana Restaurants, the Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut, is set to raise as much as $1.8 billion from its initial public offering after the company disclosed an indicative price range on Monday. The price range was set at 2.50 dirhams to 2.62 dirhams per share, the company said in a statement, implying an equity value for the group between $5.73 billion to $6.01 billion. The final price will be disclosed on Nov. 23, the company said. Retail investors in the UAE will be allocated 5% of the offering, while retail investors in Saudi Arabia will be offered 10%. Reporting by Hadeel Al Sayegh; Editing by Christian Schmollinger and by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Tiger Global, Coatue, and other hedge funds tried to upend venture capital. It backfired and now they're 'licking their wounds,' VCs say.
▼ + stars: | 2022-11-11 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +10 min

New investments by Tiger Global and Coatue fell 60% and 67%, respectively, this year. "They're licking their wounds," said Nihal Mehta, a founding partner at Eniac Ventures, whose portfolio includes the marketing-tech startup Attentive, a crown jewel of Tiger Global and Coatue's portfolios. Speaking to founders, Mehta hears crossover funds come up less and less in conversation, and partners at some crossover funds tell him they're pulling back from new deals, though crossover funds haven't disappeared altogether. Crossover funds found themselves with billions of dollars in deployed capital and few exits in sight. Last month, Tiger Global and Coatue both revealed they are seeking to raise new funds earmarked for early-stage startup deals.

☆ Gov. Ron DeSantis cruises to re-election, solidifying GOP hold on Florida politics
▼ + stars: | 2022-11-09 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +11 min

Ron DeSantis speaks during the Turning Point USA Student Action Summit in Tampa, Fla. on July 22, 2022. One survey in the nation’s first primary state, New Hampshire, showed the two statistically tied in a primary, but another survey show Trump with a lead. Some Florida polls have also shown DeSantis leading Trump in a one-on-one primary. The poll also showed DeSantis might win a majority of Hispanic voters in Florida, which no Republican governor has done in 20 years. “In that event, Ron has a different set of issues he has to contend with if he wants to run against Trump.”

LONDON, Nov 9 (Reuters) - Some European retailers this week forecast or reported better full-year sales after working to keep prices low to attract cash-strapped shoppers although others, including Marks & Spencer (MKS.L) and Adidas (ADSGn.DE) warned on profit. Many consumers have turned to cheaper private-label products, boosting sales for retailers like Dutch grocer Ahold Delhaize and Primark owner Associated British Foods (ABF.L), as they face a prolonged cost-of-living crisis. On Wednesday, Ahold raised its annual outlook for the third time this year, expecting low-double-digit earnings per share growth versus a prior mid-single-digit guidance. Carrefour said it would step up its expansion in e-commerce, open more discount stores and cut costs as it detailed its new turnaround strategy, . LUXURY GAPHaving less disposable income has meant many shoppers are holding back on buying mid-market clothes and other discretionary items.

☆ How Joe Biden can help save the planet at COP27
▼ + stars: | 2022-11-07 | by ( Hugo Dixon | Andre Cabette Fabio | ) www.reuters.com time to read: +7 min

States such as Pakistan will also complain that they are already suffering the consequences of climate change despite having done very little to cause it. PULL IT TOGETHERAmerica and other rich countries have a series of policies which could accelerate the just transition across the Global South. Developing and emerging economies, excluding China, need $1 trillion a year in investment, according to a new report from the Rockefeller Foundation. And they need help adapting to the ravages of climate change. If America and other rich countries negotiate a whole-economy transformation with India, they will kill two birds with one stone.

☆ China's economy could rebound soon, but longer-term growth will be 'deeply challenging'
▼ + stars: | 2022-11-01 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

China previously "sailed on" economically while other countries struggled, but the world's second largest economy may have a difficult path ahead, according to one strategist. "China has reached that level of its development where a lot of emerging markets typically find the going getting tougher," said Mark Jolley of CCB International Securities. He pointed to the trend of deglobalization, friction between the U.S. and China as well as the weak global economy. "On both sides of the Pacific we hear a lot of wishful thinking that decoupling will promote rather than hurt domestic growth. We disagree," Ethan Harris wrote in a BofA Global Research note published Friday.

Nov 1 (Reuters) - After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one of its strongest efforts yet to break away. For some crypto backers, any bitcoin break-up from Big Tech is a sign of strength. Bitcoin and crypto is one of those 'next' growth industries," said Santiago Portela, CEO of FITCHIN, a Web3 gaming ecosystem. Yet it's anyone's guess whether fickle bitcoin will begin to rally, or slide anew, or if it will swiftly rebound to the embrace of technology stocks.

☆ Gerald Stern, prize-winning and lyrical poet, dies at 97
▼ + stars: | 2022-10-30 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

Stern, New Jersey’s first poet laureate, died Thursday at Calvary Hospice in New York City, according to his longtime partner, Anne Marie Macari. He regarded “The One Thing in Life,” from the 1977 collection “Lucky Life,” as the poem that best defined him. Stern studied political science at the University of Pittsburgh and received a master’s in comparative literature from Columbia University. They had two children, Rachael Stern Martin and David Stern. Or get laid.”Besides Macari and his children, Stern is survived by grandchildren Dylan and Alana Stern and Rebecca and Julia Martin.

☆ What happened to former Chinese leader Hu Jintao?
▼ + stars: | 2022-10-28 | by ( Analysis Cnn Staff | ) edition.cnn.com time to read: +8 min

China's former leader Hu Jintao is lifted from his chair by a young aide at the closing of the Communist Party Congress on Saturday. Neither has the incident been reported in Chinese language media, or discussed on Chinese social media, where conversations around senior leaders are highly restricted. Former Chinese leader Hu Jintao is taken by the arm and escorted out. “For whatever reasons, Xi ordered Hu to be escorted out when he must have thought that Hu might not behave exactly as Xi would have wanted,” he said. Former Chinese leader Hu Jintao pats the shoulder of his protege, Premier Li Keqiang.

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