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☆ Britain is building the most expensive railway in the world. Many people now think it’s pointless
▼ + stars: | 2024-11-18 | by ( Ben Jones | ) edition.cnn.com time to read: +17 min

Population density and topography obviously have a significant effect on construction costs. “There was also a lack of discussion over the chosen route, which could have followed existing highway corridors.”Rapidly rising construction costs have plagued major projects across the world in recent years. Signs placed on a fence by environmental activists protest against tree-felling operations for the HS2 rail link at Jones Hill Wood in Wendover, England, in April 2021. However, their efforts were in vain and only succeeded in significantly driving up construction costs. ‘Mutilated and pointless’Plans have been dropped for a proposed HS2 railway station at Meadowhall in Sheffield.

Persons: hoardings, Henry Nicholls, it’s, Christian Wolmar, ”, Ricardo Ferreras, “, ” Ferreras, Wolmar, Chris Gorman, Wood, Mark Kerrison, Joe Giddens, Mike Kemp, Rishi Sunak, Anna Gowthorpe Organizations: CNN, Speed, Britain, WHOOSH, Station, London Times, ” Railway, CNN Travel, —, Chiltern, New Economics Foundation, London Euston, Birmingham Airport, Crewe, Conservative, Labour, Birmingham, Sunak, Leeds, High Speed Rail, Hitachi, Alstom, Siemens, Euston, Treasury, Audit Office Locations: United States, Bordeaux, France, China, Japan, London, English, Birmingham, Jakarta, Bandung, London's, AFP, Britain, Ukraine, Europe, Spain, Great, England, Jones, Wendover, Buckinghamshire, Colne, Cross , Hertfordshire, Manchester, Leeds, Scotland, Wales, Euston, Crewe, Meadowhall, Sheffield, Midlands, Nottingham, Liverpool

☆ Video shows Beirut residential building leveled by Israeli airstrike
▼ + stars: | 2024-10-22 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +1 min

It took less than five seconds for the building in southern Beirut to be reduced to rubble. Videos circulating on social media and verified by NBC News, showed several men watching the strike on Lebanon's capital from a distance, standing by their cars as the building crumples. In another video, one man can be seen running from the strike as a colossal bang rings out. “They targeted two buildings, not one,” a man can be heard shouting in the third video. Two explosions can be heard in several of the videos, although it unclear where the second blast came from.

Persons: “, ” Organizations: NBC News Locations: Beirut, “

☆ Alaska Airlines pilot: ‘I was in shock’
▼ + stars: | 2024-09-12 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —Emily Wiprud, the first officer piloting Alaska Airlines Flight 1282 on January 5, says she initially thought people had been killed when the plane’s door plug blew off shortly after takeoff, according to an interview with CBS News Wednesday. I was in shock.”Emily Wiprud, the first officer piloting Alaska Airlines Flight 1282 on January 5, in an interview with CBS News Wednesday. Federal investigations would later determine that Boeing delivered the 737 Max plane to Alaska Airlines without four bolts that were designed to hold the door plug in place. Wiprud said from the flight deck she knew something terrible had happened, but she didn’t immediately know that the door plug had blown off. For example, neither Boeing nor the National Transportation Safety Board know how the 737 Max was delivered to Alaska Airlines without the four bolts.

Persons: Emily Wiprud, “, ’ ” Wiprud, ” Wiprud, Wiprud, didn’t, ”, Max Organizations: CNN, Alaska, CBS, Wednesday, Boeing, Alaska Airlines, National Transportation Safety Board

☆ Tamirat Tola wins captivating Olympic marathon for Ethiopia
▼ + stars: | 2024-08-10 | by ( Matthew Futterman | ) www.nytimes.com time to read: +6 min

Tola surged clear and never looked back (Cameron Spencer/Getty Images)After letting the little-known Eyob Faniel of Italy lead for most of the first half of the race, Tola made his first move just before the halfway mark. Tola crossed the line an Olympic record time (Andrej Isakovic/AFP via Getty Images)Most remarkably, Tola didn’t even make the Ethiopian team originally. “I trained hard so I could win,” Tola said. Even his compatriot, Kenenisa Bekele, one of the most decorated Ethiopian distance runners but at 42 nearing the end of his career, was gushing after finishing 39th. “Not easy to win the Olympic Games,” he said, in perhaps the understatement of the past two weeks in Paris.

Persons: Tamirat Tola, Tola, Cameron Spencer, ”, Bikila, Bikele, Belgium’s Bashir Abdi, Kenya’s Benson Kipruto, Eliud, victoire appartient, Napoleon, Roland Garros, Andrej Isakovic, Tola didn’t, “, ” Tola, Connor Mantz, Akira Akasaki, ” Mantz, Clayton Young, Abdi, Kenenisa Bekele, ” Bekele, Denisa Geleta, Kipruto Organizations: “, East, Getty, Ethiopian, Boston Marathon, Olympic Locations: Ethiopia, Invalides, Paris, Versailles, Eugene , Ore, New York, Italy, Rome, Tokyo, Kenya, AFP, Japan

☆ Jim Cramer says the market hasn't reached a real bottom yet
▼ + stars: | 2024-04-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer examined Thursday's action, saying that the market has not yet reached a bottom. He implored investors to stop buying at the beginning of the session, warning that it's not necessarily the right move to buy on the dip here. "I think there's a widespread belief that you can still buy the dip. He also pointed to continued unpredictable patterns of market leaders like Apple , Tesla or Nvidia , saying investors shouldn't assume that they have bottomed. The index fell for the fifth day in a row Thursday, marking its longest losing streak since October of last year.

Persons: CNBC's Jim Cramer, Cramer, shouldn't, I've Organizations: Apple, Nvidia

☆ Opinion: The male drivers who just can’t let go of their stick shift
▼ + stars: | 2024-03-27 | by ( Opinion Paul Hockenos | ) edition.cnn.com time to read: +7 min

Berlin CNN —For old-school connoisseurs of the automobile — usually men — driving means operating a beloved vehicle by touch, with three pedals underfoot and a shift stick at hand. Paul Hockenos Hayyan Al-YousoufIn Europe, this clientele is responsible for a good deal of the moaning about manual transmission’s demise. Well, Zen or not, the day of manual transmissions is speeding to an end — and this layman is shedding no tears. For one, the oft-repeated benefits of a stick shift over an automatic have been redundant now for years. The explanation: automatics select the right gear for the vehicle, usually the highest gear possible.

Persons: Paul Hockenos, ”, Paul Hockenos Hayyan, Mercedes Benz, upshift, ’ ”, Sigmund Freud, it’s, Robert M, It’s, —, “, Cristine Organizations: CNN, Berlin CNN, Porsche, BMW, Volkswagen, Swiss, Neue Zürcher, Art, Environmental Protection Agency, International Energy Agency, Toyota Locations: Berlin, Europe, New Berlin, Yousouf, Germany, New York, San Francisco, Oslo, Norway

And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

☆ Russian companies' scaled-down IPOs in 2023
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

A customer walks in a store of Russian clothing retailer Henderson in Moscow, Russia October 31, 2023. IPO/DPO- Biotech startup Genetico (GECO.MM) raised 179 million roubles in an IPO in April. - CarMoney, a fintech service owned by SmartTechGroup (STG) raised 978 million roubles in a direct public offering (DPO) in July. - Technology company Astra (ASTR.MM) raised 3.5 billion roubles in an October IPO. - Men's clothing chain Henderson (HNFG.MM) attracted 3.8 billion roubles through its IPO in early November.

Persons: Maxim Shemetov, Uzhuralzoloto, Vladimir Putin's, Softline, Alexander Marrow, Kevin Liffey Organizations: Henderson, REUTERS, Biotech, SmartTechGroup, Technology, Astra, SPO, State, VTB Bank, Reuters, Thomson Locations: Moscow, Russia, Ukraine, IPOs

☆ Can A.I. and Lasers Cure Our Smartphone Addiction?
▼ + stars: | 2023-11-09 | by ( Erin Griffith | More About Erin Griffith | ) www.nytimes.com time to read: +1 min

Slowly, I circled my wrist to scroll, pressing an index finger and thumb together in a pinching motion to select an item. The gadget, called the Ai Pin, is a new take on wearable devices that aims to supplant, or at least help wean us off, our addiction to screens. It took a few seconds of waving my hand in front of my chest to find the laser menu. The circling wrist motion takes a second to nail as well. In 10 minutes of wearing the device at the company’s offices, I gradually learned how to hold the light and manipulate it.

Persons: ”

If U.S. and Chinese growth holds up, the investment landscape will need to be redrawn too. Reuters Image Acquire Licensing RightsBut what if peak bond bearishness is already upon us? As Societe Generale's Albert Edwards points out, once the quarterly deflator is factored in, nominal GDP growth in the third quarter was actually only 3.5%. Reuters Image Acquire Licensing RightsEqually, U.S. stocks look expensive if high yields start to choke the economy. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Florence Lo, Societe Generale's Albert Edwards, Chris Iggo, Jamie McGeever, Chizu Organizations: REUTERS, Rights, Societe Generale's, World Bank, International Monetary Fund, of America's, HSBC, Reuters, AXA Investment, Bank of America's, Thomson Locations: Rights ORLANDO , Florida, United States, China, Atlanta, Beijing, Europe, U.S, Bank

Coal barges are pictured as they queue to be pulled along the Mahakam river in Samarinda, East Kalimantan province, Indonesia, August 31, 2019. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsJAKARTA, Oct 16 (Reuters) - Indonesia will seek China's help for renewable energy and infrastructure projects when President Joko Widodo attends the upcoming Belt and Road Forum in Beijing, a cabinet minister said. Erick declined to share JETP talk details, saying only: "We cannot wait...there hasn't been any funding as yet." "We want this to fit our grand plan, the Indonesia blueprint, not the blueprint of other countries," Erick said. Indonesia also discussed the plan with Chinese Premier Li Qiang when Li visited Jakarta in September.

Persons: Willy Kurniawan, Joko Widodo, Erick Thohir, Erick, JETP, hasn't, Xi Jinping, Jokowi, Premier Li Qiang, Li, Gayatri Suroyo, Stefanno Sulaiman, Edwina Gibbs Organizations: REUTERS, Rights, Forum, Indonesian, United, Premier, Thomson Locations: Samarinda, East Kalimantan, Indonesia, Rights JAKARTA, Beijing, China, U.S, United Nations, Jakarta, Jokowi, Surabaya

JoeBen Bevirt is an evangelist for the new industry and the founder and CEO of Joby Aviation Inc., which delivered its first eVTOL to the Air Force last month. What will you learn from how the Air Force uses it? There will certainly be valuable learnings and the operational experience, the feedback from the Air Force pilots to the FAA flight-test pilots. Q. Joby announced in September that you’re going to build a $500 million production facility in Dayton, Ohio, with up to $325 million in state and local incentives. You’ve got Wright-Patterson Air Force Base, which is the home of the Air Force Research Laboratory and AFWERX (the Air Force’s technology-innovation program).

Persons: Bevirt, We’ve, Davis, that’s, we’ve, don’t, Joby, you’re, Wright, You’ve Organizations: Joby Aviation Inc, Air Force, Toyota, Associated Press, University of California, Joby Aviation, Federal Aviation Administration, FAA, NTSB, National Transportation Safety, Patterson Air Force Base, Air Force Research Laboratory, Boeing, Airbus Locations: Santa Cruz , California, California, Dayton , Ohio, Dayton, Ohio, Joby

Oct 2 (Reuters) - Russian technology company Astra on Monday said it was planning to list its shares on Moscow Exchange this month in an initial public offering (IPO), potentially breathing some life into Russia's moribund equity capital markets. Electric scooter firm Whoosh (WUSH.MM) was the only Russian firm to hold an IPO last year, but its debut raised less than half its initial target and relied heavily on Russian retail investors for capital. Astra dominates Russia's operating system (OS) market with its Astra Linux software. Alfa Bank analysts valued Astra, which more than doubled its core earnings year on year to 5.4 billion roubles in 2022, at around 70 billion-90 billion roubles ($707 million-$909 million) in a report published on Monday. Also on Monday, spirits producer Kristall said it was hoping to raise 1.5 billion roubles in a fourth quarter IPO on Moscow Exchange, something it said would significantly accelerate growth.

Persons: pipemaker, Ilya Sivtsev, Sivtsev, Kristall, Alexander Marrow, Louise Heavens, Kirsten Donovan Organizations: Astra, Moscow, Astra Linux, Reuters, Alfa Bank, Moscow Exchange, Thomson Locations: Russian, Ukraine

☆ Indonesia launches China-backed 'Whoosh' high-speed railway
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

Indonesia's President Joko Widodo speaks about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Oct 2 (Reuters) - Indonesian President Joko Widodo on Monday inaugurated a $7.3 billion high-speed railway connecting the country's capital with the city of Bandung, a China-backed project that has been marred with problems. Monday's launch for the bullet train named "Whoosh" is far behind an original target of operations in 2019. "The name is inspired by the sound of a rushing high speed train," Jokowi, as the president is popularly called, said during the launch. Reporting by Yuddy Cahya Budiman; Writing by Ananda Teresia; Editing by Gayatri Suroyo and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Edgar Su, Jokowi, Luhut, Yuddy Cahya, Ananda Teresia, Gayatri Suroyo, Gerry Doyle Organizations: Nusantara, REUTERS, Rights, Initiative, Thomson Locations: Singapore, Rights JAKARTA, Bandung, China, Indonesian

☆ Indonesia launches first bullet train, WHOOSH, funded by China's Belt and Road infrastructure initiative
▼ + stars: | 2023-10-01 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

Part of China’s Belt and Road infrastructure initiative and largely funded by Chinese state-owned firms, the $7.3 billion project opened to the public on Sunday. The train will travel between the capital Jakarta and Bandung in West Java, Indonesia’s second-largest city and a major arts and culture hub. Indonesia's outgoing President Joko Widodo rides the high-speed railway during a test ride in Jakarta. Akbar Nugroho Gumay/APWidodo and Chinese Premier Li Qiang were photographed taking test rides on the new high-speed railway throughout September. The train deal was first signed in 2015 as part of China’s Belt and Road Initiative and construction began later that year.

Persons: Dwiyana Slamet Riyadi, Dwiyana, Yasuyoshi Chiba, Joko Widodo, Xi Jinping, Akbar Nugroho Gumay, Li Qiang, ” Organizations: CNN —, Kereta, Surabaya –, PT, PT KCIC, Initiative Locations: CNN — Indonesia, Jakarta, Bandung, West Java, Indonesian, Indonesia China, Halim, East Jakarta, Padalarang, West Bandung, Surabaya, East Java Province, Semarang, Yogyakarta, Borobudur, AFP, Indonesia, Southeast, China, Rempang, Indonesia’s Riau

☆ ‘It Was on Just Such a Cool Day That I Set Out From the Upper West Side’
▼ + stars: | 2023-09-17 | by ( ) www.nytimes.com time to read: +1 min

I learned to roller skate. I used the skate key to affix the metal skates to the soles of my red oxfords, a worn-out pair of shoes my mother held in reserve for playing outside. Without a care, I tested my mettle, staring down the rasp from the top of the hill, and took off — whoosh! But before I could take a second breath, the clamp on my left skate came loose. Attached only by a tattered strap, it dangled treacherously from my ankle, while my right foot rocketed on, detached and indifferent to the plight at hand.

Persons: “, ”, ” — Spencer, — Locations: Amsterdam, Convent, Harlem

July 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Data on Monday showed that the world's second largest economy grew at a frail pace in the second quarter while China's Evergrande Group (3333.HK), the world's most indebted property developer, said it lost an eye-watering $81 billion over 2021 and 2022. The shadow over local markets cast by China's second quarter GDP data on Monday is unlikely to lift completely by Tuesday, and the pressure on policymakers in Beijing to deliver more stimulus to shore up activity will surely increase. Chinese GDP grew 0.8% in April-June from the previous quarter, beating the consensus forecast of 0.5%. JPMorgan, Morgan Stanley and Citigroup trimmed China's growth forecast for 2023 to as low as 5%, with Morgan Stanley also trimming its 2024 GDP forecast by 40 basis point to 4.5%.

Persons: Jamie McGeever, China's, Morgan Stanley, Janet Yellen, Josie Kao Organizations: HK, Nasdaq, JPMorgan, Citigroup, Treasury, Reserve Bank of Australia, Thomson, Reuters Locations: China, Asia, Japan, U.S, Beijing, Real, India

☆ Startup studio Fractal created 130 companies in 3 years. Founders say the deal structure has led VCs to 'blacklist' them.
▼ + stars: | 2023-06-29 | by ( Melia Russell | Stephanie Palazzolo | ) www.businessinsider.com time to read: +19 min

www.fractalsoftware.comOf the dozens of Fractal startups that have raised a seed round of funding, about half had Bienville Capital lead the deal, according to people familiar with the matter. Others say they knew what they were getting into with a venture studio, where a large ownership position is standard. Brendan Smialowski/AFP via Getty ImagesThe biggest draw for some Fractal founders was its plug-and-play approach. The founder of one Fractal startup remembered a time when his company was struggling to grow its customer base. That firm is raising a new $325 million fund to provide additional funding to Fractal companies exclusively, according to a person familiar with the effort.

Persons: Fractal's, he'd, they'd, Andreessen Horowitz, Mike Furlong, Nate Baker, Bienville, —, Brendan Smialowski, Founders, Angela Lee, Furlong, Baker, Ezra Shaw, who'd, who's, It's, Lee, She's, 8VC, Bain, Jeff Greenberg, Omri Bloch, who've, didn't, Stephanie Palazzolo, Melia Russell Organizations: Flatiron Health, Bienville, Insight Partners, Bienville Capital, Getty, Columbia Business School, Alpha, Midwest, Science, Olympic Club, Tiger Global, Craft Ventures, Founders, Vertical Venture Partners, Zag, Crew Capital, Bain Capital, Universal, Foundation, Fifth Locations: Bienville Capital, New York, Bienville, Indio, AFP, Santa Monica , California, Miami, San Francisco, GreenSpark, Columbia, Barti, Aktos, Bessemer, 8VC

☆ Yes, Dyson’s Supersonic Hair Dryer Is Actually Worth It
▼ + stars: | 2023-06-15 | by ( Tom Vanderbilt | ) www.wsj.com time to read: +3 min

By Tom VanderbiltI had, for the record, no interest in buying a $430 hair dryer. I had, in fact, no interest in buying a hair dryer at all. I thought, for a moment, it was a phone; then, given its placement next to the sink, I realized it was a hair dryer: the Dyson Supersonic Hair Dryer. We live in an area with particularly hard water which, even after softening, sometimes leaves our hair looking a bit dull. But I didn’t really buy a hair dryer.

Persons: Tom Vanderbilt I, Vidal Sassoon, Toto, Marie Kondo, —, “, ”, Dyson Organizations: Microsoft, Dyson Locations: Tokyo

☆ Russia's military falsely claimed to have shredded a Leopard tank. It looks more like abandoned farm equipment.
▼ + stars: | 2023-06-06 | by ( Sam Fellman | ) www.businessinsider.com time to read: +2 min

Russia's military claimed a prize hit in Ukraine: the German-made Leopard 2 main battle tank. But the video Russian officials released to prove it doesn't show a Leopard tank. Russia's Ministry of Defense then released a video compiling two views of the hit and claimed a major prize: a first strike on a German-made Leopard tank. Beyond the visuals, the video also offers another indication this wasn't a Leopard tank. We're not sure yet, but the Russian video offers clues.

Persons: —, Samuel Bendett, That's, Russia's Organizations: Service, Ministry of Defense, CNA, Russian Locations: Ukraine, Ukrainian, Russia

March 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Monetary policy decisions from Australia and Japan on Wednesday and Friday, respectively, will be market-moving events too. Before that however, investors have a deluge of headlines from China this weekend to digest. Inflation figures from South Korea, The Philippines, Thailand and Taiwan this week will be closely watched by investors and policymakers alike. With the Fed seemingly on track to tighten policy further, a renewed rise in the dollar could intensify FX-fueled inflationary pressures in Asia.

If this continues, liquidity from Japan will continue to support global markets," he adds. The BOJ flow in January outstripped the combined liquidity drain from the Fed, European Central Bank and Bank of England, resulting in a G4 net liquidity provision of $115.3 billion. Operations from the ECB and, most notably, the PBOC, have helped pour around $1 trillion of liquidity into the global financial system in recent months. As Citi's King says, when changes in even the least significant line items on central bank balance sheets are measured in the hundreds of billions of dollars, "they should command investors' respect." Related columns:- U.S. debt ceiling saga softens Fed's QT- Bank of Japan shock raises 2023 global liquidity risksBy Jamie McGeever; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ An electric scooter company just pulled off Russia’s only IPO of the year
▼ + stars: | 2022-12-14 | by ( Julia Horowitz | ) edition.cnn.com time to read: +1 min

London CNN Business —An electric scooter service just became the only company to pull off an initial public offering in Russia this year. Whoosh, which made its debut on Wednesday, said that it had raised 2.1 billion rubles ($32.6 million) through the listing, giving it a valuation of 20.6 billion rubles ($320 million). “In four years, we have gone from a startup to the leader of the Russian [scooter sharing] market, making electric scooter travel a familiar mode of transport,” Whoosh CEO Dmitry Chuiko said in a statement. It raised less than half of what it had been aiming for earlier in the month. As of the end of September, Whoosh had about 82,000 scooters in 40 cities across Russia and former Soviet states and 11.2 million registered users.

☆ Russian e-scooter firm Whoosh expects IPO to price at bottom of range
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Dec 12 (Reuters) - Russian electric scooter company Whoosh on Monday said it expected its initial public offering (IPO) price in Moscow to be 185 roubles ($2.94) per share, at the bottom of an estimated range announced last week. It said the total size of the IPO, which would be Russia's first since Moscow sent tens of thousands of troops into Ukraine in February, would be around 2.3 billion roubles. ($1 = 62.9790 roubles)Reporting by Marina Bobrova and Alexander Marrow; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. As analysts at CrossBorder Capital note, economic momentum in China is slowing again, while investors' risk appetite remains near 2020 pandemic lows. chartThe IMF suggests there is scope for a further "gradual, safe recalibration" of Beijing's zero-COVID policy. U.S. Treasury Secretary Janet Yellen said China's zero-COVID policy was a threat to healing global supply chain difficulties, but said she would not give Beijing advice on managing the pandemic. Another whoosh in global markets - Wall Street's three main indices soared 2%-4% on Powell's comments on Wednesday - won't do any harm either.

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