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We feel 'very good' about our work in China: Infor CEO
  + stars: | 2024-06-17 | 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 EmailWe feel 'very good' about our work in China: Infor CEOInfor CEO Kevin Samuelson says that Asia Pacific is an "extraordinary" hub for manufacturing and sees long-term value creation opportunities in the region.
Persons: Kevin Samuelson Locations: China, Asia
If the international expansion of Japanese companies is any guide, Chinese companies still have significant potential left in the global market. The company did not break out overseas revenue for the first quarter, but said overall revenue grew by 14% from a year ago to 3.8 billion yuan. When compared to Japanese companies, the contribution of overseas revenue to the total for Chinese businesses is low across industries. "We believe Zhejiang Dingli will benefit from strong boom lift sales growth, especially in the US market," the HSBC report said. I think the conversation has moved now more toward being tough on global trade or free trade," David Chao, global market strategist, Asia Pacific (ex-Japan), at Invesco, said during a webinar Thursday.
Persons: Steven Sun, Christine Peng, Anker, Dingli, Snibe, David Chao, — CNBC's Michael Bloom Organizations: HSBC, CSI, Japan's Nikkei, HSBC Qianhai Securities, UBS Asia Pacific, Companies, Amazon, Apple, Google, U.S . Commerce Department, Shenzhen New Industries Biomedical Engineering, Asia Pacific, U.S, Association of Southeast Asian Nations, Union Locations: China, Japan's, Shanghai, Germany, Indonesia, East, South America, Shenzhen, Zhejiang, Snibe — Shenzhen, U.S, Asia, Japan, Invesco, Singapore, The U.S
Before he started a company 15 years ago selling the world’s smelliest fruit, Eric Chan had a well-paying job writing code for satellites and robots. The fruit, durian, has long been a cherished part of local cultures in Southeast Asia, where it is grown in abundance. When Mr. Chan began his start-up in his native Malaysia, durians were cheap and often sold from the back of trucks. Last year, the value of durian exports from Southeast Asia to China was $6.7 billion, a twelvefold increase from $550 million in 2017. China buys virtually all of the world’s exported durians, according to United Nations data.
Persons: Eric Chan, Chan Organizations: China, United Nations Locations: Southeast Asia, Malaysia, China, Thailand, Vietnam
Just about 41 miles north of Dallas lies Celina, a small North Texas town that is America's fastest-growing city. Downtown Celina, Texas. Their metamorphosis into sprawling suburban metropolises has been greatly influenced by the ongoing expansion of the North Texas Tollway, which has increased accessibility to the previously remote cities. AdvertisementNew businesses are moving into the cityWith more people living in the city, Celina's economy is also growing as local businesses and services benefit from increased demand. However, Joe Monaco, director of marketing and communications for the city of Celina, told BI that there were "countless volunteers who came out."
Persons: There's, Katy, Ryan Tubbs, Celina, Celina Alcynna Lloyd, Taylor Morrison, Toll, Tubbs, Bankrate, Casas, Aaron Graham, Graham, They're, Tracy Miller, Celina —, Miller, Alcynna Lloyd, , Sandy Lewis, It's, Celina ., Joe Monaco Organizations: Business, Downtown, Houston, homebuying, North Texas Tollway, Tollway, North Texas Tollway Authority, Celina, Highland Homes, Texans, Homes, Olympic, JC, Real, Group, Mustang, Highland, Little Elm, Troubadour, Celina's, Centurion American Development Group, Dallas, WFAA Locations: Dallas, Celina, North Texas, Collin County, Texas, California, Florida, Georgia , Illinois, Missouri, Africa, Asia, Central America, Europe, Downtown Celina , Texas, Celina Texas, United States, Austin, Celina , New Braunfels, Prosper, Frisco, Plano, Frisco ., Highland, Celina —, Wilson Creek, Cambridge, East Coasts, New York
About 40 miles north of downtown Dallas lies America's fastest-growing city: Celina, Texas. Highland Homes, which specializes in luxury homes within master-planned communities, has built several neighborhoods in Celina since 2020. Downtown Celina, Texas. New businesses are moving into the cityWith more people living in the city, Celina's economy is also growing as local businesses and services benefit from increased demand. However, Joe Monaco, director of marketing and communications for the city of Celina, told BI that there were "countless volunteers who came out."
Persons: Katy, Ryan Tubbs, Celina, Prosper, Alcynna Lloyd, Taylor Morrison, Toll, Bankrate, Casas, Aaron Graham, Graham, wasn't, Redfin, They're, Tracy Miller, Celina — it's, Miller, Tubbs, Dallas —, Sandy Lewis, It's, Joe Monaco Organizations: America's, Business, Houston, North Texas Tollway, Tollway, North Texas Tollway Authority, Celina, Highland Homes, Texans, Olympic, JC, Real, Group, Highland, Dallas, Troubadour, Development Group, WFAA Locations: downtown Dallas, Celina , Texas, Celina, Collin County, Texas, California, Florida, Georgia , Illinois, Missouri, Africa, Asia, Central America, Europe, Celina Texas, United States, Austin, Dallas, Celina , New Braunfels, North Texas, Frisco, Plano, Frisco ., Prosper, Highland, Celina ., Mustang, Cambridge, Wilson, Celina's, East Coasts, New York, Little Elm , Texas
CNN —Taylor Swift knows that all good things must come to an end – and that includes her Eras Tour. In an emotional speech during the 100th show of her record-breaking tour on Thursday night, the megastar confirmed that her current musical voyage would come to an end this year. The Eras Tour, which began in Glendale, Arizona on March 18, has been extended several times since it was first announced. Just – so like, when I’m not on the stage, I’m dreaming about being back on the stage with you guys,” she continued. The Eras Tour has had a staggering impact on tourism, recently causing a spike in air travel across Europe.
Persons: CNN — Taylor Swift, , , Swift, I’ve, ” Swift, I’m Organizations: CNN, United Airlines, British Geological Society, British, Barclays Locations: Liverpool, England, Glendale , Arizona, United States, South America, Asia, Australia, North America, Vancouver, Canada, Europe, United, Milan, Munich, Edinburgh, Scotland, United Kingdom
The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Kazuhiro Nogi | Afp | Getty ImagesAsia-Pacific markets were largely range bound on Friday ahead of the Bank of Japan's rate decision. Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds. The BOJ currently aims to purchase about 6 trillion yen ($38.5 billion) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and 7 trillion yen of bonds per month. Hong Kong Hang Seng index futures were at 17,964, lower than the HSI's last close of 18,112.63.
Persons: Kazuhiro Nogi, Kospi Organizations: Bank of Japan, Afp, Getty, Bank of, Reuters, Nikkei Locations: Tokyo, Asia, Pacific, Hong Kong
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe arrival of a new type of aircraft for Ukraine will give it an advantage it's not had before, and will help boost the effectiveness of its promised F-16s, experts told Business Insider. Sweden announced late last month that it is giving Ukraine two ASC 890 airborne control and surveillance aircraft, which act as command centers in the air. They remain highly vulnerableDuring the war, Russia has been using its own A-50 Airborne Early Warning & Control aircraft to monitor Ukraine's air space and coordinate attacks. AdvertisementThe experts said hanging back is also likely the best approach for Ukraine's first F-16s, so the jets can protect cities and infrastructure while staying away from most of Russia's weaponry.
Persons: , it's, Ukraine Tim Robinson, Pal Jonson, Jose Miguel T, Mark Cancian, Peter Layton, Alexander Zemlianichenko, Layton, Cancian Organizations: Service, Ukraine, Business, UK's Royal Aeronautical Society, Swedish, US Air Force, Marine, Center for Strategic, International Studies, Griffith Asia Institute, Royal Australian Air Force, Control, AP, Aircraft Locations: Ukraine, Sweden, Swedish, Russia, Denmark, Netherlands, Norway, Belgium
The leaders of the Group of 7 countries will share the stage on Friday with leaders from India, Brazil, Turkey and other non-Western countries, showcasing a shifting global landscape on the second day of their summit meeting. Among the thorny questions on the agenda: migration, which has helped fuel a recent resurgence of populism and far-right parties in Europe and the United States. The leaders will also discuss economic competition with China, security in the Indo-Pacific and relations between the West and the countries known collectively as the Global South, which broadly includes Latin America, Africa and much of the Middle East and Asia. Prime Minister Giorgia Meloni of Italy, who is hosting the meeting, said the goal of her expanded guest list was to “strengthen dialogue with the nations of the Global South.” She insisted that the Group of 7 was “not a fortress closed in itself,” but “an offer of values that we open to the world.”Prime Minister Fumio Kishida of japan also emphasized the importance of strengthening relations with partners beyond the group, in particular the Global South, as the world faces challenges like Russia’s invasion of Ukraine and the war between Israel and Hamas, which threatens to spread to Lebanon.
Persons: Giorgia Meloni, Fumio Kishida Organizations: Locations: India, Brazil, Turkey, Europe, United States, China, America, Africa, East, Asia, Italy, japan, Ukraine, Israel, Lebanon
Chris Nardone, a top-ranked analyst at Bank of America, shares his top stock picks. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Chris Nardone started working at Bank of America out of college in 2013, he wasn't even in the firm's equity research department. Working initially as a risk analyst, he knew he wanted to shift gears and eventually stepped into a research analyst role after listening in on the team's daily calls.
Persons: Chris Nardone, Nardone, Ralph Lauren, Organizations: Bank of America, Service, Business Locations: Asia
Tech giant Apple has made headlines this week following its artificial intelligence announcements — but one market watcher is unimpressed. "I do not like Apple," Paul Meeks, co-chief investment officer at Harvest Portfolio Management told CNBC's "Street Signs Asia" on Tuesday — while acknowledging that many people disagree with him. Apple's shares reacted positively to the announcement, surging 7% to close at a record high on Tuesday. Shares in the tech giant are up over 10% year-to-date and 16% in the past 12 months. AAPL YTD mountain Year-to-date shares in Apple Meeks, however, maintains his bearish stance on Apple.
Persons: Paul Meeks, CNBC's, , wearables, Siri, OpenAI's ChatGPT, Apple Meeks, Meeks Organizations: Tech, Apple, Portfolio Management, Wall
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVietnam is a 'bright spot' in Southeast Asia, BofA economist saysKai Wei Ang, ASEAN economist at BofA Securities, discusses what makes Vietnam an attractive investment destination.
Persons: Kai Wei Ang Organizations: Vietnam, BofA Securities Locations: Southeast Asia, ASEAN, Vietnam
People filling water in plastic cans from a water supply tanker at Chanakyapuri, Delhi on June 12, 2024. India's capital Delhi is facing a severe water crisis as the country undergoes its "longest spell" of recorded heatwave. "Heat wave to severe heat wave conditions [are] likely to continue over northern parts of India during next 4-5 days," IMD said in a release. The highest daily temperature in Delhi has consecutively surpassed 40°C since May 12, weather forecasting site AccuWeather showed. Other parts of India were not spared, with temperatures in some cities touching 47.5°C on Thursday.
Persons: Mrutyunjay Mohapatra, Atishi Organizations: India's Meteorological Department, IMD, Indian Express, Economic Times, World Meteorological Organization Locations: Chanakyapuri, Delhi, India's, India, Mungeshpur, South, Southeast Asia, Bangladesh, Thailand, Vietnam, Asia
Ukraine’s President Volodymyr Zelenskyy attends a military honour ceremony on June 7, 2024 in Paris, France. Marc Piasecki | Getty Images News | Getty ImagesUkraine's leadership has been talking about this weekend's peace summit in Switzerland for months, desperately trying to drum up international enthusiasm for — and investment in — Kyiv's peace plan. watch nowRussia has repeatedly slammed the gathering, saying a peace summit without its participation is meaningless. Ukraine's President Volodymyr Zelenskyy accused Russia and China of working together to sabotage the summit and pressurizing other countries not to attend. Dubovyk dismissed the absence of countries like China and Saudi Arabia, saying their presence at previous, similar meetings had not helped to bring peace closer.
Persons: Volodymyr Zelenskyy, Marc Piasecki, wasn't, Russia —, What's, Joe Biden, Kamala Harris, Jake Sullivan, Zelenskyy, Putin, Shelby Magid, Viola Amherd, Ignazio Cassis, Volodymyr Dubovyk, Dubovyk Organizations: Getty, Peace, Kremlin, CNBC, Kyiv, House, Omaha Beach, Anadolu, Council's Eurasia, Ukraine, Swiss, Democratic, Center for Locations: Paris, France, Switzerland, Peace, Ukraine, Swiss, Bürgenstock, Russia, China, Saudi Arabia, Brazil, India, South Africa, Turkey, Europe, Asia, Africa, Latin America, cyberattacks, Central, Eastern Europe, U.S, California, Hollywood, Moscow, Normandy, Ukrainian, Bern, Russian, Kharkiv
Guests posing for a group photo at the "Let's Go the Extra Mile" hospitality campaign launch ceremony at the Central Government Office in Hong Kong on June 3, 2024. In response, the Hong Kong government launched a campaign – titled "Let's Go the Extra Mile" – encouraging frontline staff and members of the public to demonstrate good hospitality and "reinforce Hong Kong's brand as the best tourism destination." Hong Kong's currency is pegged to the U.S. dollar, which has helped the city's status as an international financial center. "Both have become equal problems for Hong Kong," he said. While the city's borders were closed during the pandemic, nearby Shenzhen continued to develop into a top-tier Chinese city, Lee said.
Persons: Long, John Lee, Hong Kongers, Allan Zeman, Lan, Kwai, Zeman, mainlanders, Simon Lee Siu, Lee Organizations: Central Government Office, Nurphoto, Getty, Hong, Lan Kwai Fong Group, U.S ., U.S, Sports, Tourism Bureau, HK, Pacific Institute of Business, Chinese University of Hong, Shenzhen Locations: Hong Kong, Shenzhen, Hong, Japan, Asia, Chinese University of Hong Kong
By the time intelligence collected on overseas ISIS targets connected the men to the terror group, they had already been vetted by immigration authorities and allowed into the country, officials said. The men remain in federal custody on immigration charges and will eventually be deported following the counterterror investigation into them. US officials and analysts who closely track Islamist terror groups do know that ISIS-K has dramatically ramped up its online propaganda machine. But that’s not necessarily a reliable gauge of the number of actual terrorists who may be trying to enter the United States, US officials argue. Or they could belong to a legacy terror group — like the FARC — that isn’t known for conducting attacks on US soil.
Persons: , “ We’re, , Michael Morell, Christopher Wray, CNN Colin Clarke, ” Clarke, ” Republican Oklahoma Sen, James Lankford, noncitizens, that’s, Clarke, — it’s, ” Said, It’s Organizations: CNN, ISIS, FBI, ICE, Islamic, Crocus, US, Affairs, Foreign Affairs, ” Republican Oklahoma, Jordanian, US Marines Locations: Tajikistan, Central Asia, Afghanistan, Europe, Moscow, United States, al Qaeda, Syria, North America, Central, Uzbekistan, Kazakhstan, Quantico
Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.
Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast
Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP. That poll found that roughly 20% of workers globally reported feeling lonely, angry or sad on a daily basis. “[W]hen managers are engaged, employees are more likely to be engaged,” the report said. But the US and Canada also ranked second among employees experiencing daily stress (49%), right behind the Middle East and North Africa (52%). And countries in post-Soviet Eurasia ranked lowest in terms of daily stress (19%).
Persons: isn’t, , , , Gallup Organizations: New, New York CNN, Employees, Gallup, Global, , South Asia, Soviet Eurasia Locations: New York, “ State, United States, Canada, Australia, New Zealand, America, Caribbean, East, North Africa, Europe, Soviet
The five retired men chatting outside a public library in a suburb of Edmonton, Alberta’s provincial capital, all had roots in South Asia. The group included Hindus, Sikhs and Muslims. But the group, which meets weekly at the library, was united in its late-in-life love of hockey and, in particular, the Edmonton Oilers. Three members of the group said they would be at the library on Thursday night watching the Oilers on TV play their first Stanley Cup final game at home in 18 years. (At the moment the team is down two games to zero in the best-of-seven championship series.)
Organizations: Edmonton Oilers, Oilers, TV, Stanley Locations: Edmonton, Alberta’s, South Asia, India, Pakistan
After the multi-Grammy-winning superstar announced the European leg of The Eras Tour in mid-2023, they started saving, knowing that they had to "travel for Taylor." Corrie (left), KJ (center), and Callie (right) traveled from Gibraltar to Edinburgh to see The Eras Tour. AdvertisementThey estimated that the total cost for their weeklong trip, accommodation, and Eras Tour tickets was just over $2,500 each. Taylor Swift kicked off her 15-stop UK tour at Murrayfield Stadium in Edinburgh, Scotland on June 7, 2024. AdvertisementAs KJ had said at the start of the day, seeing The Eras Tour isn't "just about the show and the music.
Persons: , Callie, Corrie, Taylor Swift, Swift, Taylor, Eve Crosbie, I'm, marveling, concertgoer, Amira, she's, Leah, Simone, Gareth Cattermole, Expedia, Daniel Finch, haven't, It's, Wilde Aparthotel, Ava, Wilde, Marc Crothall, Mimi's, Mariola, We've, Pie, Erin, KJ Organizations: Service, Business, Murrayfield, Edinburgh, Barclays, QuestionPro, Edinburgh's, Management, Associated Press, Blockbuster, Expedia Brands, Scottish Tourism Alliance, NFL, Swift's Murrayfield, Sky Locations: Edinburgh, Gibraltar, Europe, Liverpool, Cardiff, London, Italy, Minneapolis, Scotland, Paris, England, North America, South America, Australia, Southeast Asia, Leith
The impact on China’s EV makers will vary depending on the level of tariff and each company’s cost structure. “One critical issue for China is that the EU accounted for 38% of China’s EV exports in 2023,” Sebastian said. In February, nine government agencies, including the Commerce Ministry and the central bank, vowed to provide support to accelerate Chinese EV makers’ global push. Tesla prices to riseIn contrast to BYD, state-owned carmaker SAIC is in a “disastrous” situation facing 38.1% in additional tariffs, according to Sebastian. Soula said China could retaliate by imposing tariffs on some European goods such as luxury cars, premium brandies or airplane parts.
Persons: Hong Kong CNN —, BYD, Tesla, Gregor Sebastian, , ” Sebastian, Etienne Soula, It’s, Sebastian, Geely, Andrew Bergbaum, don’t, Soula Organizations: Hong Kong CNN, European Union, EV, China’s, Alliance, Democracy, German Marshall Fund of, Commerce Ministry, SAIC, Volvo, European Commission, UBS, EU Locations: China, Hong Kong, European, Europe, Beijing, Asia, Brazil, Turkey, United States, EU, America, Shanghai, Hungary, Italy, Spain
The pleated, wide-leg pant costs $148 a pop and is offered in a variety of colors, lengths, and materials. So the Effortless Pant may have become 2024's work uniform for young working women in North America. That means that for the price of one Aritzia Effortless Pant, a Uniqlo shopper over in Asia can purchase an entire work outfit. Related storiesIt even used the term "SG uniform" on its Instagram, in a video that is captioned: "Styling the SG Uniform: Our AIRism Cotton Oversized Crew Neck tee is the essential T-shirt redefined." Young office workers in China, for instance, are ditching the work uniform entirely to rebel against low pay and grueling working hours.
Persons: , Pant, pant, Lyst, Rick Owens, Richard Thompson Ford, Forbes, Zers, Aritzia didn't Organizations: Service, Business, Wall Street Journal, Uniqlo Locations: North America, Asia, Singapore, Stanford, Pant, China
Here, America no longer presents itself as the confident guarantor of security, a trust-us-we’ve-got-this superpower. The terrain is too vast, China’s rise too great a threat. So the United States has been offering to be something else — an eager teammate for military modernization and tech development. “In the past, our experts would talk about a hub-and-spokes model for Indo-Pacific security,” Defense Secretary Lloyd J. Austin III said this month at a global defense conference in Singapore. “Today we’re seeing something quite different.”In this new era, many countries are doing more, on their own and with U.S. help.
Persons: Lloyd J, Austin III Organizations: , U.S, South Locations: Ukraine, Gaza, Italy, Washington, Asia, America, United States, Singapore, , Australia, South Korea, India, Japan
The head of OPEC said Thursday the world will need to invest in fossil fuels for decades to come in order to prevent an energy shortage, dismissing predictions that oil demand will peak in the near future. The OPEC chief called for "continued oil industry investment, today, tomorrow, and many decades into the future given the products derived from crude oil are essential for our daily lives." Oil supply capacity will rise to 114 million per day by 2030, 8 million barrels more than global demand, according to the IEA. Deutsche Bank and Citi, however, see OPEC coming under pressure in the coming years. Citi analysts see a substantial oil surplus in 2025 as production keeps growing in North America, Brazil and Guyana, while demand slows due to energy efficiency improvements and electric vehicle adoption.
Persons: Haitham Al Ghais, Al Ghais, Fatih Birol, OPEC's Al Ghais, Helima, Croft, I'm, Robert McNally, McNally, EVs, Michael Hsueh Organizations: OPEC, International Energy Agency, IEA, IEA ., RBC Capital Markets, Rapidan Energy, Deutsche Bank, Citi, Brent Locations: China, India, North America, Europe, Northeast Asia, Asia, U.S, OPEC, Brazil, Guyana
More than 600 seagliders have already been sold for a total of over $9 billion, according to Thalheimer. “When you’re coming in on a bumpy approach, then sort of get right over the runway, and the plane just sort of floats for a second before landing — that’s the ground effect at work. Wouldn’t that be a great place to spend the entire flight, that nice calm state over the runway?”The United States and Germany also experimented with ground effect vehicles, but ultimately the concept never took off. First, Thalheimer says, seagliders are better at dealing with waves than vintage ekranoplans. Old ground effect vehicles were more akin to aircraft, with pilots controlling them at all times.
Persons: “ We’re, , Billy Thalheimer, REGENT, seagliders, Regent, Thalheimer, ekranoplans, Rather, , Brittany Ferries, Ras Al Khaimah, Darren Biddlecombe Organizations: CNN, REGENT, United Arab, Regent, Air Mobility, Key West, Japan Airlines, New, Abu Dhabi Department of Transport Locations: Boston, North America, Abu Dhabi, United Arab Emirates, Europe, Asia, Dubai, Soviet Union, United States, Germany, Hawaii, Miami, Key, Bahamas, Brittany, France, Italy, New Zealand, Ras Al
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