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☆ Shoppers are trading down, even in secondhand purchases
▼ + stars: | 2023-08-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Even though fair condition bags, shoes, and accessories show signs of heavier wear, The RealReal’s report said demand for fair condition bags is up 130% this year. For example, a Chanel flap bag in “fair condition” is $4,900, but in “excellent” could cost 65% more, or about $8,000. But, with the recent rise in fair condition, shoppers have embraced imperfection. They’re willing to buy older, worn items that are made well and still remain beautiful, and they wear them with pride,” said McCandless. Within certain fashion circles, the worn look has become a badge of honor,” she said.

Persons: Alexander McQueen, aren’t, Rati Sahi Levesque, Samantha McCandless, ”, McCandless, “, Millennials, Z, “ We’re Organizations: New, New York CNN, CNN Locations: New York

☆ Even millionaires are feeling financially insecure, report finds
▼ + stars: | 2023-08-22 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Earning a good salary is one thing, feeling "rich" is another. Some even said they feel poor, according to a recent survey conducted by Bloomberg. Of those making more than $175,000 a year, or roughly the top 10% of tax filers, one-quarter said they were either "very poor," "poor" or "getting by but things are tight." Despite their high net worth, less than half of all millionaires, or 44%, felt "very comfortable," a separate report by Edelman Financial Engines also found. In fact, only 12% of Americans — and just 29% of millionaires — consider themselves wealthy, the report said.

Persons: — Organizations: Bloomberg, Finance, Edelman Financial

☆ Two tankers collide briefly in Suez Canal
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Aug 23 (Reuters) - Two tankers, the Singapore-flagged BW Lesmes and Cayman Islands-flagged Burri, briefly collided in Egypt's Suez Canal, ship tracking company Marine Traffic said early Wednesday, citing eyewitnesses. The shipping tracker showed the BW Lesmes, which carries LNG, stopped and pointing north, and Burri, an oil products tanker, moored and pointing south about 19 km from the southern end of the canal at 2:55 a.m.(2355 GMT). A time lapse shared by Marine Traffic showed Burri turning sideways and colliding with an already sideways BW Lesmes at 2040 GMT before backing up and pointing straight. There was no immediate confirmation from the Suez Canal Authority. Approximately 12% of the world's trade moves through the canal.

Persons: Said, Muhammad Al Gebaly, Nafisa Eltahir, Yusri Mohamed, Enas Alashray, Jacqueline Wong, Cynthia Osterman Organizations: Traffic, Marine, Authority, Thomson Locations: CAIRO, Singapore, Cayman Islands, Suez

☆ US energy firm payouts to oil investors top exploration spending for first time
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The outlook for stronger energy prices has not changed the focus on investor returns from the U.S. industry, according to the report's authors, Ernst & Young LLP. Last year's investor payouts were up substantially - 214% over 2021 and more than sevenfold over 2020 levels, the report said. Money spent on finding and tapping oil and gas also rose, but as a much slower pace. Returns benefited from strong oil and gas pricing and a cost-consciousness that emerged after energy prices collapsed three years ago. Profit per barrel last year hit $32 compared to about $10 in 2014, when energy prices were about the same level as today, EY said.

Persons: Liz Hampton, Ernst, Young, Money, Bruce, EY, Gary McWilliams, David Gregorio Our Organizations: REUTERS, Rights, U.S, Young LLP, DiamondBack Energy, Natural Resources, ConocoPhillips, Thomson Locations: Midland, Odessa, Texas, U.S

☆ Bloomberg LP names Vlad Kliatchko CEO in top level overhaul - The Information
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Alastair Grant/Pool via REUTERS/File Photo Acquire Licensing RightsAug 21 (Reuters) - Bloomberg LP is replacing CEO Michael Bloomberg with product head Vlad Kliatchko and appointing former Bank of England governor Mark Carney as its chair in a management shake-up, the Information reported on Monday, citing an internal memo. New members will be appointed to the board and existing members will become emeritus, according to the report. Thomson Reuters-owned Reuters News competes with Bloomberg News, a unit of Bloomberg L.P. Reporting by Yuvraj Malik in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: New York Michael Bloomberg, Alastair Grant, Michael Bloomberg, Vlad Kliatchko, Mark Carney, JP Zammitt, Patti Roskill, Thomson, Bloomberg L.P, Yuvraj Malik, Arun Koyyur Organizations: New York, Glasgow Science Center, Change, Bloomberg, Bank of England, Thomson Reuters, Reuters, Bloomberg News, Thomson Locations: Glasgow, Scotland, Britain, Bengaluru

☆ Citi considers plan to disband its biggest division in overhaul- FT
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

Aug 21 (Reuters) - Citigroup (C.N) chief executive Jane Fraser is considering a plan to disband the bank's biggest division, the Financial Times reported on Monday. The plan would split the Institutional Clients Group — which generated nearly three-quarters of Citi's $14.8 billion in net 2022 profits — into its three primary business segments: investment and corporate banking, global markets and transaction services, the FT report said. Reporting by Lavanya Ahire in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Jane Fraser, Lavanya, Nivedita Organizations: Citigroup, Financial Times, Thomson Locations: Bengaluru

☆ DuPont to sell Delrin resins unit to PE firm for around $1.8 bln - Bloomberg News
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 20 (Reuters) - Materials and chemicals maker DuPont De Nemours Inc (DD.N) is in advanced talks to sell its Delrin resins unit to private equity firm The Jordan Company for about $1.8 billion, Bloomberg News reported on Sunday, citing people familiar with the matter. Jordan Company could announce the deal as soon as this week, the report said, adding that no final decision has been made and that talks could still fall apart. Lone Star and Platinum Equity were the other bidders for the assets, Bloomberg News had reported earlier in the month. Dupont and Jordan Company did not immediately respond to Reuters' request for comment.

Persons: Denis Balibouse, Delrin, Dupont, Gokul Pisharody, Kanjyik Ghosh, Muralikumar Anantharaman, Christopher Cushing Organizations: REUTERS, DuPont De Nemours Inc, Jordan Company, Bloomberg, Lone Star, Equity, Bloomberg News, DuPont, Reuters, Thomson Locations: Dupont, Geneva, Switzerland, Bengaluru

Border guards in Saudi Arabia have regularly opened fire on African migrants seeking to cross into the kingdom from Yemen, killing hundreds of men, women and children during a recent 15-month period, Human Rights Watch said in a report released on Monday. The guards have beaten the migrants with rocks and bars, forced male migrants to rape women while guards watched and shot detained migrants in their limbs, leading to permanent injuries and amputations, the report said. The shooting of migrants is “widespread and systematic,” it said, adding that if killing them were Saudi government policy, it would constitute a crime against humanity. The Saudi government’s Center for International Communication did not respond when asked via email about the findings.

Organizations: Rights Watch, Saudi government’s Center for International Communication Locations: Saudi Arabia, Yemen

☆ Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses
▼ + stars: | 2023-08-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

In this article 9868-HK Follow your favorite stocks CREATE FREE ACCOUNTA XPeng Inc. G6 electric sport utility vehicle (SUV). Qilai Shen | Bloomberg | Getty ImagesXpeng expects cost cuts and its Volkswagen partnership to narrow the firm's losses, the Chinese EV maker told CNBC in an exclusive interview on Monday. watch nowXpeng is attempting to revive its business this year, after its share price sank by more than 80% in 2022. BofA upgraded Xpeng from "neutral" to "buy" at $22 per share, up from its previous price target of $16.30 per share. BofA Securities in a May report said it expects China to hold 40%-45% market share in 2025.

Persons: Qilai Shen, Xiaopeng, Brian Gu, Xpeng, CNBC's, Gu, that's Organizations: HK, Inc, Bloomberg, Getty, Volkswagen, CNBC, U.S, Tesla, BofA Securities, Germany's Volkswagen, Global Locations: Hong Kong, China, Xpeng

☆ Subway nears $9.6 bln sale to Arby's owner Roark - WSJ
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 21 (Reuters) - Roark Capital, which owns restaurants Arby's and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about $9.6 billion, the Wall Street Journal reported on Monday. Another group led by Roark Capital was in the running, the sources had added. It has invested in Inspire Brands, which is the owner of Arby's, Baskin-Robbins, Buffalo Wild Wings and Dunkin' among others. Roark Capital did not immediately respond to a Reuters request for comment.

Persons: Thomas White, Roark Capital, Roark, Dunkin, Fred DeLuca, Peter Buck, Ananya Mariam Rajesh, Deborah Sophia, Shinjini Organizations: REUTERS, Buffalo Wild Wings, Wall Street, Reuters, TDR Capital, Sycamore Partners, Subway, Roark Capital, Inspire Brands, Baskin, Robbins, Thomson Locations: Sycamore, Bridgeport , Connecticut, North America, Bengaluru

☆ NY Fed finds record wage expectations in July consumer survey
▼ + stars: | 2023-08-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

People walk by the Federal Reserve Bank of New York in the financial district of New York City, U.S., June 14, 2023. Meanwhile, respondents to the bank’s Survey of Consumer Expectations said that the lowest wage they’d accept to take a job also jumped, hitting a record $78,645, from $72,873 a year ago. The survey said that survey respondents said that in July the average wage offered for a full-time job was $69,475 versus $60,764 in July 2022. The jump in compensation, actual and expected, came even as poll respondents saw some softening around the edges of the job market. The New York Fed reports on labor market expectations quarterly as part of a data series best known for tracking the expected path of inflation and household financial situations.

Persons: Shannon Stapleton, they’re, there’s, they’d, “, Michael S, Chizu Organizations: Federal Reserve Bank of New, REUTERS, bank’s Survey, Consumer Expectations, New York Fed, Cleveland Fed, Thomson Locations: Federal Reserve Bank of New York, New York City, U.S, Jackson Hole , Wyoming

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Nvidia, Disney, Salesforce, Palo Alto & more
▼ + stars: | 2023-08-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Palo Alto Networks as buy Goldman said it's standing by its buy rating on the stock following its earnings report on Friday evening. Citi reiterates Snowflake as buy Citi said it's sticking with its buy rating heading into earning later this week. Bank of America reiterates Amazon as buy Bank of America said Amazon continues to gain share. Bank of America reiterates Walmart as buy Bank of America said Walmart is better positioned in the current environment over Target. Bank of America reiterates Salesforce as buy Bank of America said Salesforce is the "next quality GARP stock."

Persons: Goldman Sachs, Goldman, Snowflake, Morgan Stanley, Jefferies, Read, Tim Hortons, Burger King, Patrick Doyle, Salesforce, Baird, it's, Raymond James, Marvell, Scott Mlyn Organizations: Credit Suisse, Disney, Networks, Citi, Taiwan Semiconductor, Bank of America, of America, China, Volkswagen, VW, JPMorgan, Brands, Restaurant Brands, " Bank of America, Walmart, Nvidia, Live Nation Entertainment, CNBC Locations: New York

☆ Citi mulls plan to split Institutional Clients Group in overhaul- FT
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. The plan envisages splitting the bank's Institutional Clients Group (ICG) into its three primary business segments: investment and corporate banking, global markets and transaction services, the FT report said, citing people familiar with the proposal. The Institutional Clients Group which provides financial services to institutional investors and governments is one of the biggest divisions of the bank. The new segments will be run by their current heads, who would report directly to Fraser, the newspaper said. Reporting by Lavanya Ahire in Bengaluru; Editing by Nivedita Bhattacharjee and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Jane Fraser, Fraser, Paco Ybarra, Lavanya, Nivedita Bhattacharjee, Dhanya Ann Thoppil Organizations: Citigroup Inc, Citi, REUTERS, Citigroup, Financial Times, Group, ICG, Reuters, Thomson Locations: Toronto , Ontario, Canada, Bengaluru

☆ Covid-19 linked with higher risk of high blood pressure, study finds
▼ + stars: | 2023-08-21 | by ( Giri Viswanathan | ) edition.cnn.com time to read: +5 min

CNN —When it comes to developing high blood pressure, Covid-19 might play an outsized role, a new study says. Of the hospitalized Covid-19 patients, more than 1 in 5 developed hypertension during their time in the hospital, while actively infected with Covid-19, despite having no history of high blood pressure. However, in comparison with patients who were infected with the flu, Covid-19 patients had worse blood pressure outcomes. Covid-19 patients who had been hospitalized were 2.23 times as likely to develop high blood pressure as hospitalized influenza patients. But scientists are unsure how the Covid-19 virus might trigger new-onset high blood pressure.

Persons: Covid, Dr, Tim Duong, Sanjay Gupta, ” Duong Organizations: CNN, US Centers for Disease Control, CDC, American Heart Association, American College of Cardiology, Albert Einstein College of Medicine, CNN Health Locations: United States, Bronx, New York City, Covid

☆ Yuan slide half pulls Beijing out of its inertia
▼ + stars: | 2023-08-21 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

Support measures appear piecemeal, the latest include a move to extend trading hours to jolt a battered stock market. But if there’s one thing that authorities cannot let slide, it is the weakening currency. Slowing economic growth also has forced the People’s Bank of China (PBOC) to cut interest rates against Western counterparts’ aggressive rate hikes. Policymakers also could increase offshore issuance of yuan bills in Hong Kong, and there’s always the option of introducing more stringent capital controls. The central bank will "resolutely" prevent excessive movement in the yuan, the report said.

Persons: Xi Jinping, Bond, there’s, Xi, Una Galani, Katrina Hamlin Organizations: Reuters, Zhongzhi Enterprise Group, People’s Bank of China, Western, People's Bank of China, Thomson Locations: China, Hong Kong, U.S

☆ Electric cars are breaking sales records, but here’s why they’re not replacing gas cars anytime soon
▼ + stars: | 2023-08-20 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

More shoppers are choosing electric vehicles so far this year than ever, according to vehicle sales data from Cox Automotive. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. The electric vehicle market is entering into a transition period, she said. The average electric vehicle price in July was $53,469, according to Kelley Blue Book, versus an average price of $48,334 across all vehicles. But the number of charging stations still lags behind what is needed to support a wider-scale adoption of electric vehicles.

Persons: Cox, That’s, ”, Stephanie Valdez, Streaty, Chevrolet Bolt, Rivian, BEV, “ We’ve, ” Valdez, Price, Kelley, “ Organizations: Cox Automotive, EV, Streaty, CNN, Alliance for Automotive Innovation, Tesla, Volkswagen, Valdez, US Energy, Ford, EV considerers, US Department of Energy, Alliance, Automotive, Quarterly, California Energy Commission, AAI, District of Columbia, California Air Resources Board Locations: Valdez, California

☆ A sushi crunch is capturing Russia's worsening economic woes
▼ + stars: | 2023-08-20 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Russia's currency and inflation woes are well captured by something economists don't usually focus on: sushi. Local prices of the Japanese delicacy are surging due to the ruble's plunge and Russia's rift with the West, a report said. The Russian currency hit a 16-month low last week, as the country's current account reels from the impact of Western sanctions. Russia's exchange-rate turmoil and spiraling inflation are now being captured in something that rarely crosses economists' radar: the price of sushi. Restaurateurs in the Eurasian nation are already grappling with surging prices of sushi ingredients, according to the report.

Persons: Steve Hanke, Maxim Tagin, Ilya Zakharov, cy, Vladimir Putin, Putin Organizations: West, Service, Russia, Metro, Financial Times Locations: Wall, Silicon, Ukraine, Restaurateurs, Odintsovo, Sochi, Russian, Russia

☆ Ozempic and Other Diabetes Drugs Show Promise for Treating Addiction
▼ + stars: | 2023-08-19 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

The Brain Science of Aggression and Why Lashing Out Can Feel Good Nearly one in four people surveyed in Gallup's latest Global Emotions Report said they’d recently felt anger. WSJ’s Daniela Hernandez explains the neuroscience behind rage, the roles it plays in our lives and how we can keep it in check. Photo composite: David Fang

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. REUTERS/Florence Lo/File Photo Acquire Licensing RightsSYDNEY, Aug 18 (Reuters) - Australia's wine industry faces severe oversupply problems that will need years to resolve, experts say, pointing to Chinese tariffs, high production and export bottlenecks during the COVID-19 pandemic. The recent removal of tariffs on Australian barley has fed hopes for an early easing of the five-year tariffs China imposed on Australian wine in 2021. Australian wine exports declined a tenth in value to A$1.87 billion and 1% in volume to 621 million litres in the year ended June, Wine Australia’s Export Report said in July. "All we can say is next time you go to buy a bottle of wine, make sure it's Australian," McLean said.

Persons: Florence, Pia Piggott, Lee McLean, McLean, Piggott, Praveen Menon, Clarence Fernandez Organizations: REUTERS, Rights, Rabobank, China, Labor, Wine Estates, Thomson Locations: Beijing, China, Australia, Britain, Europe, United States, Asia

☆ Ukraine war live updates: Ukraine to receive F-16 jets from Denmark and Netherlands; Russia reports Moscow drone attack
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

An F-16 rises from low altitude in Canada in this file photo. The United States has approved sending F-16 fighter jets to Ukraine from Denmark and the Netherlands, according to an unnamed U.S. official, as reported by Reuters. Meanwhile, Germany has delivered two IRIS-T air defense systems to Ukraine after first agreeing to supply Ukraine with the weapons in June 2022. Moscow reported a drone attack on a non-residential building overnight, just kilometers away from the Kremlin. Officials say the drone was shot down, and that there were no casualties.

Persons: Joe Biden Organizations: United, U.S ., Reuters, U.S, IRIS, Kremlin, Officials Locations: Canada, United States, Ukraine, Denmark, Netherlands, U.S, Western, Germany, Moscow

☆ Texas electricity prices soar 6,000% as a fresh heat wave is expected to shatter records
▼ + stars: | 2023-08-18 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Texas electricity prices soared 6,000% as a fresh heat wave is expected to shatter records. An excessive heat warning has been issued for north Texas, where temperatures could top 110 degrees. The price spike came as an excessive heat warning was issued for north Texas, which includes the Dallas-Fort Worth area. In June, Texas power prices doubled in a single day ahead of an earlier record-breaking streak. The Texas power market is deregulated and on its own electricity grid.

Organizations: Service, of Texas, Bloomberg, Northern Locations: Texas, Wall, Silicon, Dallas, Fort Worth, Europe

☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

Persons: Money, ”, “, Andrés Manuel López Obrador, ” Jorge Godínez, ” Godínez, John Cornyn of, Chuck Grassley, ” Grassley, pocketing, John Horn, remitters ”, Horn, – Oscar Gustavo Perez, Bernal, Itzayana Guadalupe Perez, Susan Fiorella Ayala, Chavez –, Los, –, Jose Luis Rosales, Ocampo, Josue Gama, Perez, Thania Rosales, Dulce Rosales, – Ana Lilia Leal, Martinez, Ana Paola Banda, Maria de Lourdes Carbajal, Henri Watson, Carbajal, Sigue, Sangita Bricker, Transfast –, ” Sigue, Transfast, fanny, Juan de Dios Gámez, Rubén Rocha, BanCoppel, Banorte, hadn’t, El, López Obrador, ” López Obrador, Signos, Signos Vitales, Oquitoa, Enrique Cardenas, Tim Walz, Keith Ellison Organizations: Sinaloa Cartel, Reuters, Jalisco New, Mexican, WorldRemit, ., National Intelligence, narcos, U.S, Republican U.S, Treasury, U.S . Department of, U.S ., Financial Intelligence Unit, “, Federal Bureau of Prisons, Los Rosales, Kansas City, ”, Leal, IDT Corporation, IDT, Mastercard, Express Cellular, Prosecutors, IRS, Western Union, U.S . Department of Justice, Federal Trade Commission, ‘, Banco Azteca, Elektra, World Bank, Minnesota, Caborca Locations: CULIACÁN, Mexico, Mexican, Culiacán, Sinaloa, United States, Jalisco, U.S, Colorado, Union, Americas, London, John Cornyn of Texas, Iowa, Ohio, Colorado , Georgia , Ohio , Oklahoma , Texas, Virginia, Washington, Georgia, Atlanta, Columbus, Rosales, Nayarit, Michoacan, Missouri, Texas, Florida, New Jersey, Miami, , New Jersey, Ria, Kansas, California, New York, Western, Sinaloan, Costa Rica, BanCoppel, India, China, Mexico City, Minnesota, Arizona , Colorado , Florida , Illinois, New Mexico, Nevada, Oquitoa, Sonora

☆ Before hundreds of protesters were killed, Egypt debated less lethal options, report says
▼ + stars: | 2023-08-18 | by ( Cnn Staff | ) edition.cnn.com time to read: +8 min

Official accounts put the death toll at around 600 people, including several members of the security forces. Protesters accused the state of carrying out a mass slaughter; authorities claimed heavily armed demonstrators had attacked police. According to EIPR’s report, investigators at the time also said that the “Egyptian administration was also wrong in its policy of dispersing the gathering.”CNN has reached out to the interior ministry for comment about the EIPR report. Police “incrementally used alarms and tear gas, and did not resort to live ammunition until after several of its (security forces) members were killed and injured,” the summary said. “This wound and all its victims need to be mended,” the EIPR report said, quoting the recommendations.

Persons: Rabaa, Mohamed Morsy, Abdel Fattah el, Morsy, EIPR, Hossam Bahgat, ” Bahgat, EIPR’s, Medhat, Minshawi, ” Al, Egypt’s, ”, Fouad Abdel, Moneim Riad, “, ” EIPR’s Bahgat, Bahgat Organizations: CNN, Adawya, Protesters, Egyptian, Personal Rights, Interior, Central Security Forces, Police, Rights Watch, UN Locations: Cairo, Egypt, ”

☆ North Korea's Kim visits typhoon-hit farmlands amid food shortage concerns
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

[1/5] North Korean leader Kim Jong Un and North Korea's Premier Kim Tok Hun tour typhoon-affected farms in Anbyon County, North Korea, in this undated photo released by North Korea's Korean Central News Agency (KCNA) on August 17, 2023. KCNA via REUTERS Acquire Licensing RightsSEOUL, Aug 18 (Reuters) - North Korean leader Kim Jong Un has inspected typhoon-hit farmlands, state media said on Friday, after tropical storm Khanun swept over the Korean Peninsula last week amid mounting concerns over a food crisis in the reclusive country. The North has suffered serious food shortages in recent decades, including famine in the 1990s, often as a result of natural disasters. Khanun, which was downgraded from a typhoon to a tropical storm, made landfall on the Korean peninsula last week, prompting South Korean authorities to evacuate more than 14,000 people and close schools in flood-hit areas. Reporting by Soo-hyang Choi; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Jong Un, Kim Tok, Kim Jong, Kim, KCNA, Soo, hyang Choi, Stephen Coates Organizations: North Korea's, North, Korean Central News Agency, KCNA, REUTERS Acquire, Rights, South, Thomson Locations: Anbyon County, North Korea, Rights SEOUL

The U.S. dollar index was 0.097% higher on the day at 103.56, after hitting a two-month high of 103.59. The greenback has drawn support from a recent run of U.S. economic data reinforcing the view that interest rates will remain high for some time. The Australian dollar was last 0.44% lower at $0.64, having tumbled more than 0.9% to a trough of $0.6365 following the employment data release. The Norwegian crown rose from six-week lows against the dollar and the euro on Thursday after Norges Bank raised interest rates, as expected, and said it was likely to hike again in September. Against the dollar , the Norwegian crown was last up 0.22% to 10.60, having hit 10.66 earlier in the session.

Persons: Dado Ruvic, Adam Button, it's, Kathy Lien, Sterling, BoE, Hannah Lang, Joice Alves, Rae Wee, Angus MacSwan, Kirsten Donovan, Alexandra Hudson, Sandra Maler Organizations: REUTERS, Rights, Federal Reserve, Investors, U.S, Fed, Bank of Japan, Zealand, Norges Bank, Bank of England, Thomson Locations: Norwegian, Washington, London, Singapore

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