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☆ The women behind the glitz and glamour of New York’s fabled department stores
▼ + stars: | 2024-06-05 | by ( Cat Woods | ) edition.cnn.com time to read: +9 min

CNN —Before the nationwide influx of suburban malls and the convenience of online shopping, there was a golden age of American department stores. Satow’s evocation of this historic age is timely, with the death knell for many US department stores well and truly ringing in our ears. Sally Moss“When department stores originally opened, (they represented) one of the rare opportunities for women to congregate together in public,” Satow told CNN. Her motivation was to make department stores enticing — and accessible — for women of all means.) Read: “The Dallergut Dream Department Store” (2024)A bestseller in Korea, the debut novel (and first of a two-book series) from author Miye Lee weaves a fantastical narrative around, as its title suggests, a department store selling consumers’ perfect dreams.

Persons: strategized, Hortense Odlum, Bonwit Teller, Dorothy Shaver, Taylor, Geraldine Stutz, Henri Bendel, Julie Satow’s, Odlum, Shaver, Stutz, Sally Moss “, ” Satow, “ Dorothy Shaver, …, ’, ” Doubleday, —, Elizabeth Arden, Helena Rubinstein, “ Hortense Odlum, Jill Krementz “, “, ”, Madeleine St, Goode, Kim Cattrall, Jonathan, Andrew McCarthy, Estelle Getty’s, Claire Timkin, Hollywood Montrose, Miye Lee, Miss Jones ”, John P, Merrick, Charles Coburn, Mary Jones, Jean Arthur, Helena Rubinstein ”, Lindy Woodhead, mindedly Organizations: CNN, puma, Harrods, Rive, TIME, Fashion Group, Fashion, Fashion Industry Hall of Fame, New, & $ Locations: America, Bonwit, Europe, London, Le Bon, Paris, New York, TikTok, Sydney, Australia, Korea

☆ Martin Wygod, a Winner on Wall Street and the Racetrack, Dies at 84
▼ + stars: | 2024-04-20 | by ( Sam Roberts | ) www.nytimes.com time to read: +1 min

Martin J. Wygod, a Wall Street whiz who graduated from walking horses after races to owning and breeding championship thoroughbreds when he made millions from investing in online companies that sold pharmaceuticals by mail and pruned medical paperwork, died on April 12 in San Diego. His daughter, Emily Bushnell, said he died in a hospital from complications of lung disease. Raised near two racetracks in suburban New York and mentored by a software pioneer, an investor and a gambler, Mr. Wygod was said to have been the youngest managing partner of a New York Stock Exchange brokerage in the 1960s. The sale netted Mr. Wygod $250 million. “Marty Wygod made $6 billion for himself because he developed a data base.”

Persons: Martin J, Emily Bushnell, Wygod, ” Jan Buck, “ Marty Wygod Organizations: New York Stock Exchange, Merck, Princeton Group International, New York Times Locations: San Diego, New York

☆ Boeing's troubles are 'more than an escape from quality', says Mike Boyd
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing's troubles are 'more than an escape from quality', says Mike BoydMike Boyd, Boyd Group International president and CEO, joins 'Squawk Box' to discuss the new wave of issues facing Boeing, the company's manufacturing and quality challenges, and more.

Persons: Mike Boyd Mike Boyd Organizations: Boyd Group International, Boeing

☆ Fact Check: Injured teenager who lost his leg misidentified on social media
▼ + stars: | 2023-10-27 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

An Oct. 26 post on social media said: “Palestinian blogger ‘miraculously’ healed in one day from ‘Israeli bombing’. The clip of Aljafarawi circulating in some online posts appeared in his Oct. 25 post on Instagram. HOSPITAL VIDEOAljafarawi has been falsely linked to the individual at a hospital, footage of whom has circulated online prior to the escalated Israel-Hamas conflict in October 2023. Zendiq is seen without one leg, sometimes on crutches, in posts as recently as Oct. 26. A boy on a hospital bed has been misidentified as a video creator who has been documenting the Israel-Hamas conflict in October from Gaza.

Persons: ‘, “ Pallywood, Saleh Aljafarawi, Aljafarawi, Mohammed Zendiq, Nur, @hamode.zandek, Read Organizations: Netflix, Reuters, Facebook, Palestinian, International Solidarity, Thomson Locations: Israel, Gaza, Zendiq

CNN —Turkish airstrikes killed at least 11 people in multiple Kurdish-controlled locations in northeastern Syria, the Kurdish Internal Security Force said Thursday, the latest response from Ankara’s forces following a bomb attack in Turkey’s capital claimed by Kurdish militants. “Eleven people were martyred, including five civilians and six members of the Internal Security Forces,” Asayish said. Eight civilians and two members of the Kurdish security forces were wounded, it added. Later Sunday, the Turkish Defense Ministry said its warplanes had destroyed 20 PKK targets in northern Iraq in response to the attack. According to Ankara, the PKK trains separatist fighters and launches attacks against Turkey from its bases in northern Iraq and Syria, where a PKK-affiliated Kurdish group controls large swaths of territory.

Persons: ” Asayish, Hakan Fidan, Fidan, ” Fidan Organizations: CNN, Turkish, Kurdish Internal Security Force, Kurdish, Internal Security Forces, Turkey’s Defense Ministry, Kurdistan Workers ’ Party, United Nations Charter, European Union, Ministry, Turkish Defense Ministry, Turkish Armed Forces, Group, Kurdistan Regional Government Locations: Syria, Kurdish, Turkey, Kurdistan, Ankara, United States, Turkey’s, Iraq, “, Turkish, Iran, Kordestan, Iraqi Kurdistan, Istanbul

Istanbul CNN —Turkey’s military carried out airstrikes targeting Kurdish militants in northern Iraq on Sunday, just hours after the Kurdistan Workers’ Party (PKK) claimed responsibility for a deadly bombing in the capital in the latest attack of its nearly four-decade long insurgency. The ministry said in a statement that two attackers murdered a civilian and stole his vehicle ahead of the opening of parliament in Ankara. According to Ankara, the PKK trains separatist fighters and launches attacks against Turkey from its bases in northern Iraq and Syria, where a PKK-affiliated Kurdish group controls large swaths of territory. And in November last year, Ankara blamed the PKK for a bomb attack on a central pedestrian boulevard in Istanbul that killed six and injured dozens. In recent years, Turkey has carried out a steady stream of operations against the PKK domestically as well as cross-border operations into Syria.

Persons: Istanbul CNN —, ”, Ali Unal, Recep Tayyip Erdogan Organizations: Istanbul CNN, Kurdistan Workers ’ Party, Turkish Defense Ministry, United Nations Charter, European Union, Turkey’s, Ministry, Firat News Agency, Sunday, Group, Kurdistan Regional Government Locations: Istanbul, Iraq, Kurdistan, Metina, Gara, “, Turkey, United States, Ankara, Turkish, Iran, Kordestan, Iraqi Kurdistan, Syria, Kurdish

☆ Mark Zuckerberg has embraced a 'martial arts view of the world,' says Spotify CEO Daniel Ek
▼ + stars: | 2023-09-27 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg has embraced a "martial arts view of the world," says Spotify CEO Daniel Ek. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementMeta CEO Mark Zuckerberg, who spent the summer getting shredded and talking about a cage fight with Elon Musk, has embraced a "martial arts view of the world." That's according to Spotify CEO Daniel Ek, who discussed the public's perception of Zuckerberg with Forbes in a story published on Tuesday. In August 2022, Zuckerberg spoke about his martial arts journey on an episode of the "The Joe Rogan Experience" podcast, saying he found the sport to be both physically and intellectually engaging.

Persons: Mark Zuckerberg, Daniel Ek . Ek, Zuckerberg, Elon Musk, —, Daniel Ek, Ek, Joe Rogan, Insider's Jyoti Mann, Dan Schulman, Krav Maga, Joanna Pineda Organizations: Forbes, Service, PayPal, Matrix Group, hapkido Locations: California, Meta

☆ Exxon sees $16 billion in earnings for fuels, chemicals by 2027
▼ + stars: | 2023-09-20 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsCompanies Exxon Mobil Corp FollowHOUSTON, Sept 20 (Reuters) - Exxon Mobil Corp (XOM.N) expects its motor fuels and chemicals earnings to reach $16 billion by 2027, up about $4 billion from current levels as demand continues to rise, executives said on Wednesday. Exxon combined its once separate chemicals and oil refining businesses and redesigned operations to quickly shift between fuels and chemicals based on which delivers the highest profit. Its fuels outlook differs from oil-consuming nations group International Energy Agency, which expects the use of oil for transportation fuels to decline after 2026. "We have the hypothesis this could be a game changer for Exxon Mobil," McKee said. The company's 564,440 barrel-per-day (bpd) Baytown, Texas refinery, which is co-located with a chemical unit, will allow it to evolve from primarily making fuels to chemicals, Williams said.

Persons: Ernest Scheyder, Jack Williams, Karen McKee, McKee, Exxon's, Beaumont, Williams, Refining's, Erwin Seba, Deepa Babington Organizations: Exxon, REUTERS, Companies Exxon Mobil Corp, Exxon Mobil Corp, International Energy Agency, Product Solutions, Exxon Mobil, Thomson Locations: Spring , Texas, U.S, , Texas, Beaumont , Texas, West Texas, Baytown , Texas

☆ Tencent investors Naspers and Prosus announce abrupt departure of CEO Bob van Dijk
▼ + stars: | 2023-09-18 | by ( Arabile Gumede | ) www.cnbc.com time to read: +2 min

Bob van Dijk Bloomberg | Bloomberg | Getty ImagesThe immediate and mutually agreed departure of Naspers and Prosus CEO Bob van Dijk underscores a complicated few years for a firm seen riding on the coattails of its holdings in Chinese tech giant, Tencent . The South African Reserve Bank gave Naspers the greenlight to begin buying back more of its shares from Prosus. 'Getting rid' of the cross holdingPrior to the current structure, Naspers (headquartered in South Africa) owned a third of Chinese internet giant Tencent Holdings. Van Dijk oversaw the decision to split off its holding of Tencent and other tech holdings into Prosus in 2019. But that crossholding offered little value to investors with van Dijk telling Reuters at the time: "They [shareholders] said we don't like this cross holding, it creates complexity.

Persons: Bob van Dijk, Naspers, Koos, Van Dijk, Prosus, crossholding, van Dijk, We've, we're, Erwin Tu, Tu, Goldman Sachs Organizations: Bob van Dijk Bloomberg, Bloomberg, Getty, South, Naspers, South African Reserve Bank, Tencent Holdings, Johannesburg Stock Exchange, Euronext, Reuters, Citi, SoftBank Group Locations: Dutch, Prosus, South Africa, Johannesburg, Naspers

☆ Singing Competition Again Comes Under Fire After Use of Blackface
▼ + stars: | 2023-09-13 | by ( Claire Moses | More About Claire Moses | ) www.nytimes.com time to read: +1 min

In response to that criticism, the show said the negative comments were surprising. This time around, “Your Face Sounds Familiar,” which is in its 19th season, has not yet publicly responded. The show’s Instagram account indicates that multiple contestants have dressed in blackface to perform as Black singers, including Snoop Dogg, Ray Charles, Bill Withers and Missy Elliott. She said the continued use of blackface on the show might be because the stigma surrounding it is smaller in Poland, which has a population that is overwhelmingly white, than it is in the United States. About 97 percent of Poland’s population identifies as ethnically Polish, according to Minority Rights Group International.

Persons: Snoop Dogg, Ray Charles, Bill Withers, Missy Elliott, Mia Moody, Ramirez, cornrows Organizations: Baylor University, Group International Locations: Texas, Poland, United States

In a complaint filed in Manhattan bankruptcy court, Genesis is seeking to recoup $500 million that DCG borrowed under four loans. In a statement on Wednesday, DCG said it expects to file a settlement with the bankruptcy court soon. Genesis filed for Chapter 11 protection from creditors in January, two months after halting withdrawals. The cases are Genesis Global Capital LLC v. Digital Currency Group Inc, U.S. Bankruptcy Court, Southern District of New York, No. 23-ap-01168; and Genesis Global Capital LLC v. DCG International Investments Ltd in the same court, No.

Persons: Dado Ruvic, Genesis, DCG, Barry Silbert, Jonathan Stempel, Stephen Coates Organizations: REUTERS, Group, Genesis Global Capital, Digital Currency Group International, Arrows Capital, Alameda Research, Genesis Global, LLC, Digital Currency Group Inc, Bankruptcy, Southern District of, DCG, Investments Ltd, Thomson Locations: Manhattan, Southern District, Southern District of New York, New York

☆ Rare protests flare in regime-held Syria as Assad seeks international rehabilitation
▼ + stars: | 2023-08-30 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

The protests, which are taking place in areas governed by President Bashar al-Assad’s regime, have so far shown no signs of abating. The Druze are Syria’s third largest religious minority making up 3% to 4% of the country’s population, according to Minority Rights Group International. While the largest protests are clustered around al-Sir Square in Suwayda city, other, smaller ones are scattered across the governorate, Marouf said. “If protests spread deeper into regime territories, those chances (of violent crackdown) will surge.”All eyes are on Assad’s next moves. If Assad attends, it would be his first appearance on the world stage since the start of the civil war in 2011.

Persons: Bashar al, disgruntlement, Assad, haven’t, ”, Charles Lister, ” Lister, “ Long, ” Rayan Marouf, Marouf, “, ” Marouf, Hafez, Syria’s, Geir Pedersen, Pedersen Organizations: CNN, Group, Middle East Institute, UN, Arab League, Sir, UN Security Council, Sky News, ISIS, Security, United, United Arab Emirates Locations: Syria’s, Syria, Washington , DC, Russia, Iran, Suwayda governorate, Suwayda, Jaramana, Damascus, “, Idlib, Aleppo, United Arab, Dubai

☆ Qantas focuses on international capacity recovery after record annual profit
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

"Travel demand is incredibly robust and we've taken delivery of more aircraft and opened up new routes to help meet it," Qantas Group CEO Alan Joyce said. Qantas said its group domestic capacity is expected to remain above pre-COVID levels throughout fiscal 2024. Additionally, its profit was helped by the completion of the group's A$1 billion recovery programme launched in 2020, in the wake of the COVID-19 pandemic. The results beat the mid-point of Qantas' profit outlook of A$2.43 billion to A$2.48 billion, nearly A$850 million higher than its 2018 record levels of A$1.60 billion. The company, however, did not announce a final dividend, continuing the trend of non-payment for the past three years.

Persons: Loren Elliott, Alan Joyce, Refinitiv Eikon, Roushni Nair, Archishma Iyer, Shailesh Kuber, Sherry Jacob, Phillips Organizations: Qantas, Sydney Airport, REUTERS, Australia's Qantas Airways Ltd, Thomson Locations: Sydney, Australia, Bengaluru

The International Labour Organization (ILO), of which Cambodia is a member, permits prison labour provided it is not forced. The companies, which Sopheak confirmed were W Dexing Garment (Cambodia), IGTM (Cambodia) and Chia Ho (Cambodia) Garment Industrial, did not respond to requests for comment. It said it learned in February that Cambodia was investigating and that the prison workshops had been suspended. Centric told Reuters in an email in June that it had "placed on hold" imports from a factory in Cambodia and would "immediately terminate" any supplier found to be using prison labour. CAMBODIA INVESTIGATESPrison labour at CC2 potentially puts Cambodia at odds with the U.S. Generalized System of Preferences, which grants duty-free benefits to eligible developing nations.

Persons: Keo Chhea, Sopheak, Chia Ho, AAFA's, Ken Loo, Aun, Loo, Calvin Klein, Tommy Hilfiger, amfori, Klot Dara, Stephen Lamar, Nate Herman, Clare Baldwin, Katherine Masters, Siddharth Cavale, John Shiffman, Kristina Cooke, David Crawshaw, Kay Johnson Organizations: Correctional, Google, REUTERS Acquire, Walmart, Centric Brands, Reuters, American Apparel and Footwear Association, International Labour Organization, ILO, Cambodian Ministry of Commerce, State, European Union, Japan, Garment, Human Rights, Textile, Apparel, Footwear, Travel Goods Association, IZOD, U.S . Federal Trade Commission, U.S, Travelway, Centric, Better Factories, BFC, amfori's Business, Authentic Brands, U.S . Trade, CC2, Cambodia's Ministry of Interior, General Department of Prisons, Facebook, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, U.S, Washington, AAFA, IGTM, Canada, Better Factories Cambodia, CC2, CAMBODIA, Cambodia's U.S, New York, Los Angeles

☆ Royal Mail's owner picks international parcels boss as group CEO
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

July 20 (Reuters) - Royal Mail's parent group International Distributions Services (IDS) (IDSI.L) appointed Martin Seidenberg, CEO of the group's international parcels network, as its new group CEO on Thursday. Seidenberg will be tasked with mending relationships with labour union CWU and driving the group and the loss-making UK business back to profitability. He will be appointing CEOs for the two units - its UK business Royal Mail and GLS - in due course, the company said. Seidenberg said Royal Mail has "plenty of opportunity ahead" given its brand and scale. Simon Thompson, the current CEO of Royal Mail announced his resignation earlier this year after months of labour strife.

Persons: Martin Seidenberg, Seidenberg, Simon Thompson, GLS, Yadarisa, Dhanya Ann Thoppil, Janane Venkatraman, Sonali Paul Organizations: International, Services, GLS, IDS, Royal Mail, Deutsche Post DHL, Royal, Thomson Locations: Bengaluru

☆ NZ's Vista Group to streamline business, cut jobs to turn cashflow positive
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - New Zealand's Vista Group International Ltd (VGL.NZ) on Thursday disclosed plans to reduce 6%-8% of its global workforce and streamline operations in an effort to turn cashflow positive a year earlier than targeted. Shares of Vista rose 4.7% to NZ$1.77 by 1129 GMT, marking its highest level since September 2022. "This updated, more stable, development program should result in a modest reduction in the total spend over time and a lower cash consumption in the near term," the company said. It now expects total capital expenditure to be about NZ$20 million ($12.36 million) per year ongoing. The restructuring and transformation program will be completed by the end of 2023, the company said.

Persons: Roushni Nair, Shweta Agarwal Organizations: Zealand's, International, NZ, Zealand, Thomson Locations: Bengaluru

☆ Elon Musk and Mark Zuckerberg's cage fight vow is the latest example of how martial arts are taking hold of Silicon Valley tech bros
▼ + stars: | 2023-06-25 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Tech executives including Mark Zuckerberg and PayPal's Dan Schulman have taken up martial arts. Zuckerberg is now sizing up Elon Musk as his latest opponent, as the pair agreed to go head-to-head in a cagefight. Danny Zelig trains PayPal CEO Dan Schulman in Krav Maga, which was developed by the Israeli army. Zelig said that in sparring sessions, Schulman would often wait to for him to strike, which let Zelig dictate the fight. She added that the training helped her to focus on the present and develop distance from her work in her "own version of mindfulness."

Persons: Mark Zuckerberg, PayPal's Dan Schulman, Zuckerberg, Elon Musk, Joe Rogan, Joris Merks, Benjaminsen, Danny Zelig, Dan Schulman, Krav Maga, Zelig, Dan, Maga, Schulman, Joanna Pineda, Bob Rosin, it's, Rosin Organizations: Morning, Big Tech, Facebook, UFC, Forbes, Matrix Group, hapkido, Microsoft, Skype Locations: Redwood City , California

☆ SoftBank prepares new round of layoffs at Vision Fund, Reuters reports
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +1 min

SoftBank's Vision Fund posted a record loss in the year ended Mar. The flagship tech investment unit has been hit by the falling prices of tech stocks. SoftBank Group Corp is planning a fresh round of layoffs at its Vision Fund investment arm, two people familiar with the matter said, the latest cost-cutting move at the Japanese conglomerate. SoftBank's Vision Fund unit, which has booked heavy investment losses, had headcount of 349 at the end of March, according to a company report. It cushioned the investment loss at the Vision Fund unit by selling down its stake in Alibaba Group Holding Ltd.

Persons: ByteDance Organizations: Vision, Mar, SoftBank, Corp, Vision Fund, Fund, International, Alibaba, Holding Locations: U.S, China

SAN FRANCISCO, June 12 (Reuters) - SoftBank Group Corp (9984.T) is planning a fresh round of layoffs at its Vision Fund investment arm, two people familiar with the matter said, the latest cost-cutting move at the Japanese conglomerate. SoftBank's Vision Fund unit, which has booked heavy investment losses, had headcount of 349 at the end of March, according to a company report. If finalized, this would follow the elimination of about 150 jobs globally at the investing arm and SoftBank Group International in September. It cushioned the investment loss at the Vision Fund unit by selling down its stake in Alibaba Group Holding Ltd (9988.HK). Vision Fund 2's portfolio was worth $31 billion at end-March compared with an acquisition cost of $49.9 billion.

Persons: ByteDance, SoftBank, SoftBank's, Krystal Hu, Sam Nussey, Kenneth Li, Edwina Gibbs Organizations: FRANCISCO, SoftBank Group Corp, Vision Fund, Fund, SoftBank, International, Vision, Alibaba, Holding, HK, Intel, Thomson Locations: U.S, China, The Cambridge, England, San Francisco, Tokyo

☆ How flight delays caused by Canadian wildfire smoke will affect the U.S. airline industry
▼ + stars: | 2023-06-08 | 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 EmailHow flight delays caused by Canadian wildfire smoke will affect the U.S. airline industryMike Boyd, president and CEO of the aviation consulting firm Boyd Group International, and CNBC’s Leslie Josephs join ‘The Exchange’ to discuss how several delayed flights in NYC and Newark airports due to the Canadian wildfire smoke will impact the U.S. airline industry and more.

Persons: Mike Boyd, CNBC’s Leslie Josephs Organizations: U.S, Group International, ‘ Locations: NYC, Newark

☆ Big Tech execs like Mark Zuckerberg are swapping the boardroom for the dojo. Here's why martial arts are taking hold of Silicon Valley.
▼ + stars: | 2023-06-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Tech executives including Mark Zuckerberg and PayPal's Dan Schulman have taken up martial arts. The combat techniques mirror the pace and intensity of the tech industry, one former exec said. Zelig added that Krav Maga helped to build self-awareness, which is important when it comes to decision-making, especially under stress. She added that the training helped her to focus on the present and develop distance from her work in her "own version of mindfulness." He said it's been "invaluable" in helping him negotiate complex partnerships in his former business-development roles at LinkedIn, Microsoft, and Skype.

Persons: Mark Zuckerberg, PayPal's Dan Schulman, Zuckerberg, Joe Rogan, Joris Merks, Benjaminsen, Danny Zelig, Dan Schulman, Krav Maga, Zelig, Dan, Maga, Schulman, Joanna Pineda, Bob Rosin, it's, Rosin Organizations: Morning, Big Tech, Facebook, Forbes, Matrix Group, hapkido, Microsoft, Skype Locations: Redwood City , California

CNN —Turkish President Recep Tayyip Erdogan largely canceled two days of campaigning as crucial elections loom after he fell ill during a live televised interview. His tweet included social media images, of which some suggested that Erdogan was critically ill in hospital having suffered a myocardial infarction. Erdogan, 69, is hoping to extend his power well into a third decade but it is far from a political certainty. Kilicdaroglu, who represents the six-party Nation Alliance opposition bloc, is the strongest contender to run against Erdogan in years. Kurds are the biggest minority in Turkey, making up between 15% and 20% of the population, according to Minority Rights Group International.

☆ Fact Check-Altered image shows Donald and Melania Trump standing with Stormy Daniels
▼ + stars: | 2023-03-27 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An image appearing to show former U.S. President Donald Trump and his wife Melania Trump standing alongside adult film star Stormy Daniels is digitally altered. The image is altered and juxtaposes a photograph of the Trumps taken in 2005 with an image of Daniels standing by herself captured in 2006. The original image of the Trumps shows Donald and Melania Trump standing alongside Ivanka Trump and was taken at The Fashion Group International's Night of Stars in New York on Oct. 27, 2005. A similar image showing Melania and Donald Trump standing with Ivanka to their left and Vanessa Haydon, Donald Trump Jr taken at a slightly different angle is viewable (here). The image is altered to juxtapose two separate images and make it appear as if Donald and Melania Trump were standing with Stormy Daniels.

☆ Over a dozen Chinese-based firms say they have minimal exposure to SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, March 13 (Reuters) - Over a dozen Hong Kong-listed companies have stepped forward to say they had little or no exposure to Silicon Valley Bank, the failed U.S. lender which has roiled investors and markets globally. Startup-focussed SVB Financial Group (SIVB.O), which did business as Silicon Valley Bank, collapsed on Friday in the largest bank failure since the 2008 financial crisis. China-based drug developer Beigene Ltd (6160.HK) said it has uninsured cash deposits held at the bank representing 3.9% of its last reported total cash and cash equivalents. Six Hong Kong-listed companies, mostly Chinese pharmaceutical firms also over the weekend disclosed cash deposits at Silicon Valley Bank. Broncus Holding Corporation (2216.HK) said it held $11.8 million at SVB, representing around 6.5% of its total cash.

☆ Six Hong Kong-listed firms say their deposits at SVB are immaterial
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, March 12 (Reuters) - Six Hong Kong-listed companies, mostly Chinese pharmaceutical firms, disclosed cash deposits at Silicon Valley Bank on Sunday, adding that their exposure to the failed U.S. lender and its impact on operations were immaterial, in an effort to calm investors. Startup-focussed SVB Financial Group (SIVB.O), which did business as Silicon Valley Bank, collapsed on Friday in the largest bank failure since the 2008 financial crisis, roiling global markets and stranding billions of dollars belonging to companies and investors. Broncus Holding Corporation (2216.HK) said it held $11.8 million at SVB, representing around 6.5% of its total cash. Noah Holdings Private Wealth and Asset Management Limited has less than $1 million with SVB, less than 0.2% of its total cash. CANbridge Pharmaceuticals Inc (1228.HK) said the amount of cash deposited with SVB is "immaterial and is generally within the amount guaranteed by the FDIC accordingly", without giving any figures.

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