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☆ A couple who achieved financial independence and retired in their 30s shares their $280,000 a year budget raising 2 kids in San Francisco
▼ + stars: | 2024-06-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

AdvertisementHow a FIRE family budgetsIn 2012, Dogen reached financial independence after 13 years in banking, predominantly in San Francisco. His wife retired in 2015 at 35 and worked part-time until they had their first kid. Other family expenses include $7,800 for three family vacations, $6,000 for entertainment, including sporting events and social functions, and $4,200 for baby items. He also said he feels safer as an Asian American in San Francisco than in many other parts of the country. He's itching to "fill that void" with part-time consulting work in the tech or startup industry, hoping to get more involved with AI companies in San Francisco.

Persons: —, Sam Dogen, haven't, Dogen, Uber, should've, they're, I'm, he's, it's, Dogen didn't, didn't, you've, I've Organizations: Service, Business, FIRE, Bay Area, Uber Locations: San Francisco, American, Memphis, Houston, Bay

☆ Amazon has a secret workaround to scrape Microsoft's GitHub for AI model training data, leaked memo shows
▼ + stars: | 2024-06-13 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

Microsoft is likely to be unhappy when it discovers that its arch rival Amazon is leaning hard on GitHub for AI training data. "Our LLMs are trained on data from a variety of sources, including licensed and proprietary data, open-source datasets, and publicly available data where appropriate. It also said Amazon employees should create a "classic personal token," not a "fine-grained personal token," when signing up. Tech companies, hungry for even more training data, are also granting themselves new permissions to use a lot more of consumers' information. Though Amazon's legal team has approved the GitHub data scraping workaround, the move could put Amazon in a tricky position.

Persons: —, Rohit Prasad NurPhoto, Rohit Prasad, Amazon, Amazon's, Andy Jassy, Prasad, Matthew Butterick, Joseph Saveri, Joseph Saveri's, Butterick, Copilot Organizations: Service, Business, General Intelligence Group, Amazon, Microsoft, Google, Meta, GitHub, News Corp, Tech, Alexa Locations: GitHub

☆ Roger Daltrey thinks the internet has ruined concerts and he is ‘sick of it’
▼ + stars: | 2024-06-11 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Dear internet, The Who’s Roger Daltrey has a bone to pick with you. In a recent interview with Billboard, the singer declined to share the set list for his upcoming nine-date North American concert tour which kicks off Wednesday in Vienna, Virginia. “I’m not gonna talk about songs,” Daltrey told the publication. “The Internet’s ruined the live shows for me,” he said. I can’t stand it.”When it was suggested that concertgoers, perhaps, want to know the set list ahead of time to schedule bathroom breaks, Daltrey had a cheeky response.

Persons: Roger Daltrey, “ I’m, ” Daltrey, ”, “, what’s, concertgoers, Daltrey Organizations: CNN, Billboard, Hall of Fame Locations: Vienna , Virginia, London

☆ US intelligence assesses Houthis in Yemen in talks to provide weapons to al-Shabaab in Somalia, officials say
▼ + stars: | 2024-06-11 | by ( Katie Bo Lillis | Kylie Atwood | ) edition.cnn.com time to read: +6 min

CNN —US intelligence has learned of discussions between Houthis in Yemen to provide weapons to the Somali militant group al-Shabaab, in what three American officials described to CNN as a worrying development that threatens to further destabilize an already violent region. The Houthis are Zaydi Shiites, and al-Shabaab traditionally has been deeply ideologically opposed to Shiism. “Being able to sell some weapons would bring them much needed income,” the senior administration official said. But a weapons agreement between al-Shabaab and the Houthis would be something new, according to US officials. No matter what the Houthis provide, there’s likely limited opportunity for al-Shabaab to fire directly at US assets in the region.

Persons: ” It’s, Aden —, ”, Christopher Anzalone, “, Anzalone, ” Anzalone, Biden, “ Don’t Organizations: CNN, Marine Corps, East Studies, ”, Somali, ISIS, US Locations: Houthis, Yemen, Somali, Shabaab, Somalia, Iran, al, Aden, United States, Gaza, Saudi Arabia, Tehran, Israel

☆ Macron’s Call for Elections in France Adds to Fears of Financial Woes
▼ + stars: | 2024-06-11 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Investors made clear on Tuesday the depth of their concerns over President Emmanuel Macron’s gamble to call for new elections in France, driving up the nation’s borrowing costs, pushing down stock prices and prompting the Moody’s ratings agency to warn it may downgrade French sovereign debt as risks of political instability rise. Mr. Macron’s dissolution of the lower house of Parliament on Sunday after his party was battered by Marine Le Pen’s far-right party in European Parliament elections has ignited concerns that the government could grind to a stalemate. The turmoil has focused attention on France’s fragile finances, and the prospect of legislative gridlock that could undermine the government’s ability to address it. “This decision will not ease the economic challenges facing the country,” Philippe Ledent, senior economist at ING Bank, wrote in a note to clients. Public finances and the performance of the French economy will be “at the heart of the electoral campaign,” he added.

Persons: Emmanuel Macron’s, Le, ” Philippe Ledent, ”, Macron Organizations: ING Bank, Public, Paris Bourse Locations: France, Paris

☆ Starbucks' Howard Schultz talks Steve Jobs screaming at him and wishing he'd trademarked the latte in a new podcast
▼ + stars: | 2024-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +10 min

Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.

Persons: —, Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan

☆ America's Economic Plan Will Hurt World Economy, Global Stock Markets
▼ + stars: | 2024-06-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

The European Central Bank began easing interest rates on Thursday, cutting its benchmark rate by 0.25%. Investors and economists expect the Federal Reserve to follow suit and cut interest rates in September. This combination means there's a good chance that the September cut Wall Street is praying for may never materialize. The US already has somewhat higher interest rates than other countries — the Fed's benchmark rate is 5.25%- 5.50%. And in Asian economies, where interest rates are already significantly lower than in the US, things could get even messier.

Persons: Tamara, Vasiljev, Peter Schaffrik, Nigel Green, Green, we're Organizations: European Central Bank, Investors, Federal Reserve, Oxford Economics, JPMorgan, UBS, Bloomberg, of International Finance, Markets, RBC Capital Markets, deVere, Fed, We're, ECB, Bank of, EU, Bank of Canada, Bank of Canada's, Bank of England Locations: stagflation, China, Europe, Japan, South Korea, It's, America, United States, EU, Bank of England, Canada, East Asia

☆ AI is the first time new technology is leading to real productivity benefits, ING COO says
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is the first time new technology is leading to real productivity benefits, ING COO saysMarnix van Stiphout, COO at ING, discusses artificial intelligence and digitalization in the banking sector.

Persons: Marnix van Stiphout Organizations: ING

☆ Oil prices rise but hover near four-month low on OPEC+ supply increase later this year
▼ + stars: | 2024-06-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019. Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to weigh on the market. U.S. crude oil and global benchmark Brent are down more than 4% this week after eight OPEC+ members agreed Sunday to gradually phase out 2.2 million barrels per day in production cuts. OPEC+ won't start increasing production until October, and the global oil balance sheet will tighten beforehand, Patterson said. Here are today's energy prices:"The technicals also suggest that the oil market is entering oversold territory," Patterson told clients in a research note on Wednesday.

Persons: Yasir Al, Rumayyan, Warren Patterson, Patterson, Bob Yawger, Yawger Organizations: Saudi Arabian Oil Co, Aramco, OPEC, Brent, ING, Mizuho Securities Locations: Dammam, Saudi Arabia, .

☆ Car prices are finally falling. Here's why people still aren't buying.
▼ + stars: | 2024-06-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Both new and used car prices are normalizing from pandemic peaks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCar prices are falling back down to earth, in a steady decline from 2021 peaks. According to Bank of America, overall car sales have flatlined, despite post-pandemic recoveries ing both pricing and supply. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Bank of America, EV, Service, Business

☆ Is Jeff Bezos' Washington Post trying to turn itself into BuzzFeed?
▼ + stars: | 2024-06-03 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

The Washington Post is in trouble. This third newsroom will be comprised of service and social media journalism and run separately from the core news operation. AdvertisementStill, it's quite clear that Lewis, installed by Bezos last fall, has surveyed the existing Washington Post business strategy — run a newspaper with national ambitions and a subscription-based revenue model — and concluded that it didn't work. The more concerning part of Lewis' plan is that he now has two plans: There's The Washington Post, which will presumably continue to act like the old Washington Post. And there's the new, unnamed version of The Washington Post, which will operate very differently.

Persons: — Jeff Bezos, —, Will Lewis, That's, Lewis, It's, he's Organizations: Service, Washington Post, Business, Bezos, Facebook, Daily, Washington, The Washington Post Locations: —

☆ Adele scolds audience member who makes anti-Pride Month comment during Las Vegas concert
▼ + stars: | 2024-06-02 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Adele is making it clear that hateful comments are not tolerated at her concerts. “Excuse me, did you come to my f***ing show and just say that ‘Pride sucks’?” Adele said, appearing immediately aggravated by the outburst. It is not known whether the audience member who shouted stayed for the rest of the concert. Adele is known for interacting with her audience during her Las Vegas residency concerts. The singer will take a break from her Las Vegas show in August to perform a special “Adele in Munich” concert series in Germany.

Persons: Adele, ” Adele, “, ” Organizations: CNN, Las Locations: Las Vegas, Munich, Germany, North America

☆ China's military exercises last week 'looked like a rehearsal' for a Taiwan invasion, US' top officer in the Pacific says
▼ + stars: | 2024-05-30 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

China's large-scale military exercises surrounding Taiwan last week "looked like a rehearsal" for an invasion, the US' top officer in the Pacific said. Related storiesIn the aftermath of the exercises, US lawmakers and officials have been responding with clear shows of support for Taiwan. The US would be dependent on Japan's bases to threaten a Chinese threat to Taiwan, as President Joe Biden has vowed. Taiwan's army held a military exercise following China's large-scale joint military drill around Taiwan on May 23, 2024. TAIWAN Military News Agency, Ministry of National Defense, R. O. C. / HANDOUTLast week's exercises weren't the first time China has held provocative exercises around Taiwan.

Persons: Adm, Samuel Paparo, Paparo, Joe Biden, Michael McCaul, McCaul, Nancy Pelosi, Party's Lai Ching, Tsai Ing Organizations: Service, Business, Pacific, Japan's Nikkei, TAIWAN Military News Agency, Ministry of National Defense, Democratic Locations: Taiwan, Beijing, US, China, United States, Taiwan's, Japan

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Asia-Pacific markets are mixed on Wednesday as the Nasdaq Composite hit another new record high on Wall Street to surpass 17,000 for the first time, powered by a 7% gain in tech darling Nvidia. Investors will be assessing Australia's inflation numbers for April, with the weighted inflation rate expected to ease to 3.4% from 3.5% in March. Two more, and we may consider adding a rate hike." The Australian S&P/ASX 200 started the day down 0.29%, ahead of the CPI announcement.

Organizations: Bank of Australia, Nasdaq, Nvidia, Investors, ING, [ Reserve Bank of Locations: Sydney, Australia, Asia, Pacific, [ Reserve Bank of Australia

☆ Mother of Jan. 6 officer Michael Fanone swatted after he called Trump 'authoritarian'
▼ + stars: | 2024-05-29 | by ( Ryan J. Reilly | ) www.cnbc.com time to read: +2 min

Former Washington DC police officer Michael Fanone finishes giving a speech denouncing political violence during a news conference put on by Courage for America featuring veterans, politicians on the west side of the U.S. Capitol building in Washington, U.S., January 5, 2023. Hours later, Fanone's mother was "swatted" at her home in Virginia. That night, Fanone told NBC News, his mother opened the door to law enforcement while in her nightgown, "mortified" to find SWAT team officers at her home. Pro-Trump protesters clash with D.C. police officer Michael Fanone during a rally to contest the certification of the 2020 U.S. presidential election results by the U.S. Congress, at the U.S. Capitol Building in Washington, U.S, January 6, 2021. Shannon Stapleton | ReutersWashington Metropolitan Police Department officer Michael Fanone testifies during the House select committee hearing on the Jan. 6 attack on Capitol Hill in Washington, U.S., July 27, 2021.

Persons: Michael Fanone, Leah Millis, Reuters Michael Fanone, Donald Trump's, Trump, Fanone, Donald Trump, Shannon Stapleton, Andrew Harnik Organizations: Washington DC, Courage, U.S . Capitol, Reuters, NBC News, NBC, FBI, Trump, D.C, U.S . Congress, U.S, Capitol, Reuters Washington Metropolitan Police Department Locations: America, Washington , U.S, Virginia

☆ China is flexing its missile arsenal in a new simulation for a mass Taiwan attack as the US watches Beijing's Rocket Force closely
▼ + stars: | 2024-05-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewChina's Eastern Theater Command on Friday released a simulation video of its missile forces carrying out a mass attack on Taiwan, boasting its land, sea, and air launch capabilities. "Destroy the pillar of Taiwanese independence! Strike the base camp of Taiwanese independence! Related storiesBeijing's missile forces have developed rapidly in recent years, alarming US officials who are now scrutinizing its arsenals and assets. Taiwan, recognizing the Chinese missile threat, has been stocking up on US-manufactured Patriot missiles.

Persons: —, CapwDFZyds, They're, Lai Ching, Lai, Tsai Ing Organizations: Service, Command, Business, People's Liberation Army, PLA, Taiwan, Pentagon, Liberation Army Rocket Force, Eastern Theater Command, Patriot, Coast Guard, Navy, Democratic Progressive Party Locations: Taiwan, Taipei, Hualien, Kaohsiung, China, Beijing

☆ US lawmakers vow to bolster Taiwan’s defense with bipartisan visit days after China’s ‘punishment’ military drills
▼ + stars: | 2024-05-27 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

CNN —US lawmakers vowed to bolster Taiwan’s deterrence against China on Monday during a bipartisan congressional visit to the self-governing democracy just days after Beijing surrounded the island with massive military exercises. US Representative Michael McCaul, Republican-Texas, has vowed to bolster Taiwan's deterrence against China. China’s military drills, he said, were “to express their displeasure with President Lai, a president democratically elected by the people of Taiwan.”But he added they had another objective. The delegation also met with Lai, Taiwan’s new leader, on Monday morning. China responded with a show of military force and later imposed sanctions on McCaul.

Persons: Lai Ching, Michael McCaul, ”, McCaul, Lai, ” McCaul, China’s, Xi Jinping, Xi, “, Mao Ning, Michael Brochstein, Lin Chia, ” “ It’s, ” Lin, Taiwan’s, “ Taiwan’s, ” Lai, Ronald Reagan’s, Tsai Ing, Nancy Pelosi’s Organizations: CNN, China, House Foreign Affairs Committee, Taiwan, US, Party, Republican, Ministry, Taiwan’s Locations: Beijing, China, Taiwan, Taipei, Ukraine, Taiwan Strait, Texas, United States, America, People’s Republic of China

Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. Asia-Pacific markets rose Monday as industrial profits in China rose during the first four months of the year, according to official data. China's industrial profits rose 4.3% year on year in the January to April period, data from the National Bureau of Statistics showed. More economic data from China and India is also due later this week. Australia will also announce its inflation data for April on Wednesday, with analysts from ING expecting a "modest dip."

Persons: Hong Organizations: National Bureau, Statistics, ING Locations: Shanghai, China, Asia, Pacific, India, Australia

☆ China's gold rush shows the Chinese still have money to spend — they're just not into Starbucks or Gucci
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

It also reflects that there's money in the system — but Chinese consumers are just really not that keen on dropping their hard-earned cash at Starbucks or Gucci. China's demand for gold jewelry softened in the first quarter of this year due to the surge in gold prices but was still holding up well, according to the council. Gen Z Chinese consumers ditch luxury for goldUnlike the rush into gold assets, Chinese consumers are not running out to buy even more stuff, particularly foreign imports. China's savings rate was around 32% last year — compared to around 4% in the US, according to a McKinsey analysis of official data. "Chinese households are increasingly confronted by the weak long-term Chinese growth outlook and the slumping prices in China's residential real estate market," said Biswas.

Persons: —, Rajiv Biswas, Gen, LVMH Moët Hennessy Louis Vuitton, Gucci, Yves Saint Laurent, Laxman Narasimhan, Nomura, Lynn Song, Jean, Jacques Guiony, Biswas, McKinsey Organizations: Service, Gucci, Business, World Gold, Bloomberg, Starbucks, Huawei, Nomura, ING, McKinsey Locations: Japan, China, American, Greater China

☆ Bipartisan congressional delegation visits Taiwan following days of Chinese military drills around island
▼ + stars: | 2024-05-26 | by ( Avery Lotz | ) edition.cnn.com time to read: +3 min

CNN —House Foreign Affairs Committee Chairman Michael McCaul and a bipartisan delegation of lawmakers arrived in Taiwan on Sunday following the election of the island’s new president and after days of Chinese military drills. The US will continue to stand by our steadfast partner and work to maintain the status quo across the Taiwan Strait. US officials condemned the drills, with the State Department urging the Chinese to “act with restraint.”Two years ago, former House Speaker Nancy Pelosi visited the island, marking the first time a US House speaker had traveled to Taiwan in 25 years. Her visit was met with days of large-scale military drills and warnings of a “severe impact” on US-China relations from the Chinese government. In April 2023, then-House Speaker Kevin McCarthy similarly defied threats from China, presenting a united front with then-President Tsai Ing-wen in a California meeting.

Persons: Michael McCaul, Lai Ching, China’s, Putin, Xi, ” McCaul, Xi Jinping, ”, Nancy Pelosi, Kevin McCarthy, Tsai Ing, “, Antony Blinken Organizations: CNN — House Foreign, Communist Party, US, Taiwan, House Foreign Affairs Committee, ” CNN, State Department Locations: Taiwan, Beijing, Ukraine, Israel, Iran, “ Taiwan, Taiwan Strait, America, Asia, China, California

CNN —China’s military drills around Taiwan are designed to test its ability to “seize power” over the island, the People’s Liberation Army said Friday as its forces kicked off a second day of large-scale exercises encircling its democratic neighbor. Taiwan’s Defense Ministry has condemned China’s military exercises as “irrational provocations” and dispatched its own sea, air and ground forces in response. A total of 19 Chinese warships and seven coast guard vessels were detected near the Taiwan Strait, according to the ministry. China Coast Guard drill near Taiwan. China Coast Guard/Weibo‘Blockading Taiwan’China’s military drills are often as much about playing to a domestic audience as signaling intentions internationally, and state media has ramped up coverage of the drills.

Persons: CNN —, Lai Ching, Lai, Xi Jinping, ”, China’s, Tsai Ing, ” “, Wu Qian, Liu, Tsai, wasn’t, “, I’m, Zhang Chi, Zhang, Carl Schuster, Craig Singleton, ” Singleton, Singleton, Lionel Fatton, ” Fatton Organizations: CNN, People’s Liberation Army, PLA, Command, Party, Taiwan, Guard, CCTV, Taiwan’s Defense, Kyodo, Democratic Progressive Party, China’s, Ministry, Chinese Communist Party, China Coast Guard, Taiwan . China Coast Guard, Weibo, US, Coast Guard, Pacific Command’s Joint Intelligence Center, Foundation, Defense of Democracies, Webster University Locations: Taiwan, Beijing, China, Kinmen, Taiwan Strait, China's, Taiwan ., ”, Kaohsiung, Wuqiu, Geneva

☆ China has launched new drills encircling Taiwan. Why now?
▼ + stars: | 2024-05-23 | by ( Jessie Yeung | Nectar Gan | ) edition.cnn.com time to read: +8 min

CNN —Tensions are once again ratcheting up in the Taiwan Strait, with China launching military drills encircling Taiwan just days after the democracy swore in a new leader long loathed by Beijing. The Eastern Theater Command of the Chinese People’s Liberation Army (PLA) said it launched joint military drills involving the army, navy, air force and rocket force in areas around Taiwan early Thursday morning. The drills are being conducted in the Taiwan Strait – a narrow body of water separating the self-ruling island with mainland China – as well as north, south and east of Taiwan. The Chinese guided missile frigate Nantong, one of the vessels in the series of military drills around Taiwan. The defeated Nationalist Party fled to Taiwan, moving the seat of their Republic of China (ROC) government from the mainland to Taipei.

Persons: ”, Lai Ching, China’s, Xi Jinping, Li Xi, Lai, Wu Mei, Carlos Garcia Rawlins, Tsai Ing, Tsai –, Mike Gallagher Organizations: CNN, Communist Party, Eastern Theater Command, People’s Liberation Army, PLA, People's Liberation Army, Weibo, Taiwan’s Defense Ministry, Democratic Progressive Party, DPP, Chinese Communist Party, CCP, Nationalist Party, US, Communist, Beijing, Tuesday Locations: Taiwan, China, Beijing, Kinmen, Taipei, People’s Republic of China, Republic of China, Xi, Washington

☆ Asia markets in mixed territory after Fed raises concern over 'persistent' inflation
▼ + stars: | 2024-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty ImagesAsia-Pacific markets were mixed after minutes from the last U.S. Federal Reserve meeting revealed that Fed officials have grown more concerned about inflation, with members indicating they lacked confidence to move forward on interest rate reductions. In Asia, investors will assess flash business activity data from Australia and Japan, as well as Singapore's final first quarter gross domestic figures. South Korea's central bank will be announcing its policy rate decision today. Analysts polled by Reuters expect the Bank of Korea to hold its benchmark lending rate at 3.5%, although a note from ING last week said the meeting will still be closely watched, "as two new members have joined the [BOK's] board since the last meeting and it will be interesting to see if this has changed the view of the board."

Persons: SeongJoon Cho Organizations: Korea Exchange, Bloomberg, Getty Images, Federal Reserve, Reuters, Bank of, ING Locations: Seoul, South Korea, Getty Images Asia, Pacific, U.S, Asia, Australia, Japan, Korea's, Bank of Korea

☆ China's military is surrounding Taiwan, sending its new president an unmistakable message
▼ + stars: | 2024-05-23 | by ( Ella Sherman | Chris Panella | ) www.businessinsider.com time to read: +6 min

Read previewThe Chinese armed forces began conducting large-scale military exercises around Taiwan on Thursday, just days after the island's newly elected president Lai Ching-te took office. Taiwan's defense ministry posted a video condemning Chinese actions, as well as showing the various locations around it where Chinese forces are operating. The CCP’s military exercises, which highlight its hegemony mindset, have undermined regional peace and stability. An outdoor screen shows a news coverage of China's military drills around Taiwan, in Beijing on May 23, 2024. Taiwanese soldiers stand guard as flares are fired during a Taiwanese military live-fire drill, after Beijing increased its military exercises near Taiwan, in Pingtung, Taiwan, 6 September 2022.

Persons: —, Lai Ching, It's Organizations: Service, Business, Coast Guard, Navy, ROC Armed Forces, 國防部 Ministry of National Defense Locations: Taiwan, China, Beijing, Taiwan's

☆ Britain's inflation rate could be about to drop below the Bank of England's 2% target
▼ + stars: | 2024-05-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England's 2% target. That would represent a plunge from the current level of 3.2% and could "make or break" a June interest rate cut, economists say. Ashley Webb, U.K. economist at Capital Economics, said that if the headline rate does fall below 2% in April, as he expects, it would be "momentous." "This will be crucial in determining whether the first interest rate cut from 5.25% will happen in June (as we expect) or in August. We think inflation will fall further, perhaps even to 1.0% later this year," Webb said in a Friday note.

Persons: Ashley Webb, What's, Webb, —, BOE Governor Andrew Bailey, BOE, Ben Broadbent, James Smith, ING's Organizations: Bloomberg, Getty, Bank of England's, Capital Economics, Bank of England, European Central Bank, ING Locations: Kingston, London, U.K

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