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☆ Political and social division is driving interest in ‘golden visas’
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Interest in so-called “golden visas” has skyrocketed among US citizens since the election, according to consultants that help the wealthy migrate. Golden visas allow people to effectively buy foreign citizenship or residence through sizable investments, including in real estate, government bonds or startups. Jc Milhet/Hans Lucas/AFP/Getty ImagesInquiries about golden visas from Americans have increased 33% so far this year compared with the same period last year, with programs in Europe the most sought after. Portugal’s Golden Residence Permit Program tops the popularity list because it is relatively affordable, requiring a minimum outlay of €250,000 ($265,000) in support of the arts or national cultural heritage. With golden visas out of reach for most Americans, social media platforms are ablaze with chatter about other avenues for moving abroad.

Persons: Donald Trump, ”, Dominic Volek, Armand Arton, “, Covid lockdowns, …, Jc Milhet, Hans Lucas, Portugal’s, Thomas Coex, Trump, ” Flannery Foster, “ I’ve, ” Foster, Foster, ’ Organizations: London CNN, Democratic, Henley & Partners, Arton, CNN, Getty, Union, Plaza Mayor, LGBT, Spanish Locations: Europe, Ollolai, Sardinia, Nigeria, South Africa, China, India, Philippines, United States, Valletta, AFP, Greece, Spain, Italy, Malta, Austria, €, Madrid, Reddit, USA

☆ Ikea group CEO tells BI shoppers are trading down to save money
▼ + stars: | 2024-11-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

And while the past year has been challenging, this strategy is paying off, according to Jasper Brodin, CEO of Ikea's parent company, Ingka Group. "People have the same needs, but they have much less money in their wallet," he added. AdvertisementHowever, Ikea has benefited from investing in low prices because it has attracted more shoppers away from pricier rivals. AdvertisementBecause of this, he said that Ikea customers are largely engaging in needs-based shopping, picking up the necessities first, like a new bed or kitchen table, instead of non-essential items. "There is a large stimulus package coming from the government right now, which is helping, but people have been holding on to their money," Brodin said.

Persons: Jasper Brodin, — Brodin, —, Nora Redmond, lockdowns, Brodin Organizations: Ikea, Ingka, Oxford, Starbucks Locations: London, China

☆ It's time to stop humblebragging about how busy we are
▼ + stars: | 2024-11-17 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

Busy calendars can be seen as a status symbol yet can lead to burnout, an executive coach told BI. It's not uncommon for Brandon Dock to hear from execs that they're too busy to meet. "So you could either be busy every day for the next five weeks, as you claim, or you could take a half hour," Dock said. "If you have a very busy calendar, some workers use this as a status symbol," Leussink said. "I have a couple of clients that are really going through some pretty heavy burnout right now, based on their calendars," Walker said.

Persons: Brandon Dock, they're, Dock, Joep, Leussink, Kate Walker, Walker, she's, execs, Ethan Kross, who's, Kross, he'd, hadn't, what's, It's, " Kross Organizations: Workers, Control, University of Michigan Locations: AddEvent, San Francisco, we're

“I was completely stunned when he mentioned violence so bluntly,” said the 32-year-old, who was born and raised in China. In Britain, “Cafe Scientifique,” a laid-back science debate forum, kicked off in 1998 and “Pint of Science,” a three-day science festival, launched in May 2013. Unlike Western universities, which generally welcome the public, most Chinese campuses remain fenced off, keeping their academic resources exclusive to students, faculty and authorized personnel. Nationalist voices online have also grown into a powerful unofficial force policing speech across Chinese social media. Liang, who deemed the state-building talk “bold,” said he loves these academic pub sessions but suspects they will eventually face restriction.

Persons: Hong Kong CNN —, Liang Xiao, urbanites, Liang, ”, …, Lei Ya, Cinnamon Wu, Wu, Jerry Zhang, “ It’s, ” Wu, Zhang, Jerry Zhang Elephant, China’s, They’ve, Lei, Kang Siqin, Kang, ” Kang Organizations: Hong Kong CNN, American, Guangzhou –, Harvard University, CNN, ” University, Communist Party, Chinese University of Hong Locations: Hong Kong, Shanghai, China, “, China’s, Beijing, Guangzhou, West, Britain, ”, Chinese University of Hong Kong, Shenzhen

☆ Trump’s latest controversial Cabinet pick could have a huge impact on Americans’ health and lives
▼ + stars: | 2024-11-15 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

The president-elect’s previous selections for director of national intelligence, attorney general and defense secretary could change the country and the world in the long term. The US Department of Health and Human Services secretary has a massive platform and huge power to influence the information that Americans have and the choices they make. “I guess if you like health and you like people who live a long time, it is the most important position,” Trump said. Christina House/Los Angeles Times/Getty ImagesAnother health expert and former US Centers for Disease Control and Prevention acting director condemned the pick. The highly contagious disease is preventable with two doses of the measles vaccine that most Americans get as kids.

Persons: Donald Trump’s, Robert F, Kennedy Jr, “, Kennedy, Trump’s MAGA, Kennedy’s ascendency, Bobby ’ Kennedy, ” Trump, Bobby, ”, Matt Gaetz, Trump, Pete Hegseth, Tulsi Gabbard, Bashar al, Assad, Carlos Barria, Jake Tapper, Indiana Sen, Jim Banks, Jake, Donald Trump, ” Banks, —, ’ Kennedy, he’d “, Dr, Ashish Jha, Covid, CNN’s Wolf Blitzer, Jha, Christina House, Richard Besser . Besser, CNN’s Kaitlan Collins, kindergartners, Mandy Cohen, CNN’s Meg Tirrell, who’s, ” Cohen, Lex Fridman’s, CNN’s Kasie Hunt, don’t, –, ’, won’t, Mitch McConnell — Organizations: CNN, National Institutes of Health, RFK Jr, Trump, US Department of Health, Human Services, Trump’s, Fox News, America, Reuters, Biden, Brown University’s School of Public Health, Republican, Democratic, “ RFK, Los Angeles Times, US Centers for Disease Control, World Health Organization, CDC, Milken, Health Summit, Trump Cabinet, Senate, FBI, GOP Locations: Lago, Florida, Palm Beach , Florida, Washington, Huntington Park , California

☆ Booker Prize 2024: Samantha Harvey’s space-station novel ‘Orbital’ wins annual literature award
▼ + stars: | 2024-11-12 | by ( Associated Press | ) edition.cnn.com time to read: +4 min

London AP —British writer Samantha Harvey won the Booker Prize for fiction on Tuesday with “Orbital,” a short, wonder-filled novel set aboard the International Space Station that ponders the beauty and fragility of Earth. The prize is open to English-language writers of any nationality and has a reputation for transforming writers’ careers. De Waal praised the “crystalline” writing and “capaciousness” of Harvey’s succinct novel — at 136 pages in its UK paperback edition, one of the shortest-ever Booker winners. Harvey is the first female Booker winner since 2019, though one of five women on this year’s shortlist, the largest number in the prize’s 55-year history. Founded in 1969, the Booker Prize is open to novels originally written in English published in the UK or Ireland.

Persons: Samantha Harvey, Booker, Harvey, ”, Edmund de Waal, ” Gaby Wood, ” Harvey, Ian McEwan, Margaret Atwood, Salman Rushdie, Hilary, Waal, Percival Everett, “ James, Twain’s, Huckleberry Finn ”, Jim, Rachel Kushner’s, Canadian Anne Michaels, Charlotte Wood’s, Yael van der, De Waal, Paul Lynch, ” Lynch Organizations: London AP, Space, Prize Foundation, Ireland Locations: British, Canada, United States, Australia, Netherlands, Canadian, London, Japan

☆ Canada Women’s coaches ‘directed, approved and condoned’ using drones to spy on opponents, report finds
▼ + stars: | 2024-11-12 | by ( Joshua Kloke | ) www.nytimes.com time to read: +14 min

“The search for a new head coach for the Women’s National Team will commence shortly,” Canada Soccer said. To determine whether current Canada Soccer President Peter Augruso or General Secretary and CEO Blue “approved, directed and/or condoned” drone usage and spying. According to the report, Canada were not found to have used drones when they won Olympic gold in women’s soccer in Tokyo in 2021. AdvertisementLawyer Regenbogen was instructed by the Board of Directors of Canada Soccer on July 30 and then shared her investigation with Canada Soccer on November 5. On Tuesday, Canada Soccer released to the media an eight-page summary report originally given to the Chair of the Human Resources Committee of the Canada Soccer Board of Directors.

Persons: Sonia Regenbogen, “, ”, Kevin Blue, Bev Priestman, Jasmine Mander, Joseph Lombardi, Priestman, Jason Mowry, Peter Augruso, Blue “, Regenbogen, John Herdman’s, Alex Livesey, Jesse Marsch, ” Marsch, Perry McIntyre, Blue, Marsch, John Herdman wasn’t, Herdman, Canada’s, Ulrik Pedersen, we’ve, Lombardi, who’s, Steph Yang It’s, ” Priestman, Marc Atkins Organizations: Canada, Paris Olympics, Canada Soccer, teams, Toronto, Olympic Games, ” Canada Soccer, Athletic, Olympics, FIFA, women’s, Women’s, Soccer, Getty, Copa America, Olympic, Toronto FC, Major League Soccer, Men’s, Paris, Zealand Women’s National, Canadian, Paris Games, Sports, ”, Toronto FC’s, Men’s National, New Zealand, Canadian Olympic Committee, Zealand women’s, New, International Olympic Committee, Summer Games, Sport, Colombia, Human Resources Committee, Women’s National Team, — Locations: New Zealand, Canadian, France, Canada, United States, Tokyo, Herdman, Saint, Etienne, Germany, U.S, Orlando , Florida, Marsch, Priestman, Copa America

☆ Voters worldwide are angry about higher prices and keep punishing those in power
▼ + stars: | 2024-11-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Incumbent governments have been punished in Britain, France, India, Japan, South Korea, and elsewhere. The near-universal shift away from Democrats echoes voters' rejection of incumbent political parties across the world this year. South Africa's African National Congress (ANC) party lost its majority. Similarly, Deutsche Bank's Reid wrote that voters are disappointed by how slowly their lives are improving amid cooler economic growth. He said they don't buy that incumbents can tackle immigration, some incumbent governments have had scandals, and voters have become "much more willing to change their vote from election to election."

Persons: Donald Trump's, Kamala Harris, —, Donald Trump, Biden, Harris, Narendra Modi, Korea's Democrat Party snagged, Jim Reid, Tina Fordham, Louis Perron, Deutsche Bank's Reid Organizations: Service, Democratic, Britain's Labour Party, Conservative Party, Rally, Japan's Liberal Democratic Party, Indian, Korea's Democrat Party, National Congress, ANC, Deutsche Bank, Fed, Bank of England, European Central Bank, CNN, Win, Deutsche Locations: Britain, France, India, Japan, South Korea, London, Tokyo, Seoul, Cape Town, Washington, Gaza, country's, South, Ukraine

☆ Some Americans think moving to Canada will solve all their problems. But Canada has its own issues.
▼ + stars: | 2024-11-05 | by ( Alcynna Lloyd | Jordan Pandy | ) www.businessinsider.com time to read: +8 min

Some Americans move to Canada in search of less polarized politics and reduced risk of gun violence. Related storiesTwo Americans who recently moved to Canada told BI they did so to escape polarized and divisive politics, escape inadequate healthcare, and feel safer in their communities. A lot of the characteristics Ouellet was looking for in New Zealand, he said, he found in British Columbia. "In British Columbia, the regulations for being able to own a gun are extremely tight," he said. Ouellet said he had no regrets about moving to British Columbia, but Canada's housing crisis have so far sidelined his dreams of homeownership.

Persons: —, Rae Johnson, Johnson, Donald Trump, Hillary Clinton, wasn't, Joe Biden, Trump, Biden, Kamala Harris, Roe, Wade, Michael Niren, couldn't, United States —, Niren, Canada Chris Ouellet, Ouellet, hasn't, he'd Organizations: Service, Business, Google, Democratic, Trump, Biden, Ministry of Health Locations: Canada, Los Angeles, California, United States, Portland , Oregon, Victoria, British Columbia, Wellington , New Zealand, New Zealand, Pacific Northwest, Portland, Chicago

☆ Food deliveries are getting more expensive — but we can't stop ordering
▼ + stars: | 2024-11-05 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Research shows that ordering food for delivery has gotten expensive, yet demand remains high. But demand for food delivery has remained high — as has its price. Last week, food delivery company DoorDash, reported an 18% rise in orders year over year in its third quarter of 2024. A food delivery driver previously told BI that he decides to accept or pass on a variety of deliveries often based on the highest upfront tips. But despite lockdowns coming to an end and the country gradually opening back up, people grew accustomed to the trend of ordering food.

Persons: —, There's, Mills, Doug Martin, Uber, Anthony Miyazaki, Miyazaki, Alon Chen, Oliver Wright, Wright, Chris Olivola, It's, Olivola Organizations: Service, Business, Revenue, Florida International University, Starbucks, McDonald's, KFC, Accenture, Tepper School of Business Locations: Doordash, Olive

☆ Paralyzed by Choice: the Golden Age of Online Shopping Is Over
▼ + stars: | 2024-11-04 | by ( Emilie Friedlander | ) www.businessinsider.com time to read: +13 min

Online shopping, which the US Census Bureau estimates accounts for roughly 16% of all retail sales, theoretically makes it easier to find exactly what we are looking for. AdvertisementThe golden age of comparison shopping isn't so golden after all. Ursu has studied two factors in shopping: search costs and search fatigue. Ursu guessed that the most exhausting stage of shopping is comparison shopping — when people pore over minuscule details between products to find the best one. Related storiesIf people abandon their shopping carts because they get overwhelmed by search fatigue, it can come back to bite retailers.

Persons: We'd, It's, Barry Schwartz, Jason Goldberg, Publicis, they've, Marsh, Samantha Kleinberg, you've, moisturizer, New York University's Leonard N, Ursu, Qianyun Zhang, Elisabeth Honka, lockdowns, Lauren Ralph Lauren, Goldberg, Rufus Organizations: Ikea, Amazon, Accenture, Swarthmore College, Walmart, Shoppers, Lehigh University, Stevens Institute of Technology, Cognitive, New York, Stern School of Business, Google Locations: New, Netherlands, Wayfair

☆ Comcast tops earnings estimates as Olympics propels the company
▼ + stars: | 2024-10-31 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Comcast beat third-quarter earning expectations on Thursday, as the Summer Olympics in Paris boosted NBCUniversal's revenue and Peacock's subscriber count. The company's revenue rose 6.5% to $32.07 billion compared to the same period last year. Overall revenue was boosted by the Summer Olympics in Paris, which NBCUniversal exclusively broadcast in the U.S., and domestic broadband revenue — despite continued slowing customer growth. Revenue for the media segment – mainly comprised of NBCUniversal – was up nearly 37% to $8.23 billion, largely due to the Olympics. The company's film studios, also part of the content and experiences segment, saw revenue increase 12.3% to $2.83 billion compared to the prior year.

Persons: –, Peacock, lockdowns, NBCUniversal Organizations: Comcast, LSEG, Summer, Revenue, CNBC, Paris, Olympics, Cable, Verizon, Program, ACP, Domestic, NBC Sports, NBC Olympics, NBC, Games Locations: Paris, U.S, Peacock

☆ Self-harm: Why it happens and how to treat it
▼ + stars: | 2024-10-30 | by ( Kristen Rogers | ) edition.cnn.com time to read: +13 min

Editor’s Note: This story contains details of self-harm that some readers may find upsetting or triggering. She had just recently learned about self-harm after asking a friend about her many bandages and long sleeves. In 2019 there were 363,000 emergency department visits for self-harm, according to the US Centers for Disease Control and Prevention. Self-harm can also be a form of self-punishment among those feeling guilt or shame and thus like they deserve physical pain. You should of course use common sense and not let someone have their self-harm toolkit in their bedroom, for example, Whitlock added.

Persons: Megan, ” Megan —, —, ”, ” Megan, “, Megan’s, Janis Whitlock, Whitlock, Jeremy Jamieson, There’s, Vibh Forsythe Cox, Marsha M, Linehan, Cox, ” Whitlock, DBT, suicidality, don’t, ‘, ’ ” Whitlock, Whitlock doesn’t, Michele Berk, Benjamin Veness, Berk, ” “, Matt Villano Organizations: International Association for Suicide Prevention, Befrienders, CNN, Houston, Cornell Research, Cornell University, US Centers for Disease Control, University of Rochester, University of Washington, JED, Parents, Stanford University in Locations: New York, Seattle, Boston, Norway, Stanford University in California, Las Vegas, California

☆ Millennials Are Staring Down 40 and It's Making Them Terrified
▼ + stars: | 2024-10-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

The modern 40 means having toddlers running around, buying your first home, and, at last, catching up on retirement savings. "By the time you're 40, 45, you can't sing, and you can't play guitar; maybe it's time to give up on your aspirations of being a rock star." At work, you realize you're protected from age discrimination, which you feel like you're still much too young for. When we're young, we're happy — and then that declines, bottoming out in middle age, about 40 to 50. The question isn't just whether my 40 will look like my parents' 40 — it's also whether it will look like the 40 of everyone from my high school.

Persons: you've, touchpoints, Carol Graham, they're, Hannes Schwandt, Millennials, they'd, that's, Jean Twenge, Gen X, Silents, Graham, Justin Balik, it's, Oz, Kelly, She's, —, It's, They're, We're, Instagram, Gen Zers, Lindsey Anderson, Anderson, midlife, Gen, Emily Stewart Organizations: AARP, Brookings Institution, grays, Northwestern University, Facebook, University of Maryland, Business Locations: midlife, Schwandt, New Jersey, Massachusetts, I'm

☆ Restaurants made big changes to cope with the pandemic. Lots of them have stuck.
▼ + stars: | 2024-10-29 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

Restaurants made big changes during the pandemic to minimize the spread of COVID. Some of these changes have stuck, like QR code menus, higher cleaning standards, and more takeout. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . State after state introduced lockdowns, banning large groups of people and temporarily shutting eateries. Here is a list of a few of the changes which stuck.

Persons: —, Mary King Organizations: Service, The Locations: State

☆ China Halloween: Partygoers pushed boundaries in Shanghai last year. This year, police are taking notice
▼ + stars: | 2024-10-29 | by ( Chris Lau | ) edition.cnn.com time to read: +6 min

People stage a Halloween cosplay carnival in Shanghai, China, October 27, 2024. “Was dressing up for Halloween no longer allowed at Julu Road in Shanghai this year? A reveler dressed up as Republican presidential candidate Donald Trump is taken away by police in Shanghai during Halloween celebrations on October 26, 2024. “(I guess) there will never be any Halloween celebration in Shanghai as innovative as the one in 2023. The Shanghai municipal government even praised last year’s Halloween celebration as “a sign of cultural tolerance.”A partygoer dressed up as Buddha is escorted away by police in Shanghai during Halloween celebrations on October 26, 2024.

Persons: Hong Kong CNN —, revelers, Donald Trump, partygoers, Trump, Douyin, Alfred Wu, Lee, ” Organizations: Hong Kong CNN, CNN, Publishing, Shanghai Disney Resort, Weibo, Douyin CNN, Lee Kuan Yew, of Public, National University of Singapore Locations: China, Hong Kong, Shanghai, United States, Asia, Japan, South Korea, ”, “

☆ Sorry Mom and Dad, Gen Z is calling the shots on the family vacation now
▼ + stars: | 2024-10-27 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

Gen Z is taking the reins on family trips, taking charge of destinations and what hotels to book. But this is increasingly changing, and Gen Zers and adult kids aren't just tagging along on these trips; they're calling the shots and organizing the family vacations themselves. AdvertisementLuxury travel agents say Gen Z isn't holding back with their family vacation requests. Many Gen Z travelers are molding their family vacations off what they see on social media and by what they want to post. AdvertisementWhen the client's kid becomes the clientAs a self-proclaimed "geriatric millennial," Carter has mixed feelings toward the growing influence of Gen Z on luxury family travel.

Persons: Z, —, Gen Zers aren't, Julia Carter, Gen Zers, Gen, Carter, IPGGutenbergUKLtd, Diana Hechler, Coppola, Hechler, Kardashian, I've Organizations: Service, Craft Travel, Travel Locations: South Africa, COVID, Belize, Republic of Congo, London, Paris

☆ How Liberty Media became one of the world's most valuable sports empires
▼ + stars: | 2024-10-21 | by ( Chris Hawes | ) www.cnbc.com time to read: +4 min

Charles Leclerc of Monaco driving the (16) Ferrari SF-23 on track during practice ahead of the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 17, 2023 in Las Vegas, Nevada. Mark Thompson | Getty Images Sport | Getty ImagesWhen Liberty Media Chairman John Malone finalized the $4.4 billion acquisition of Formula One in 2017, he knew he was onto something. Mark Thompson | Getty Images Sport | Getty ImagesEvening out the field created more exciting story lines, which Netflix seized on. But to crack America, F1 needed a spectacle, and the 2023 Las Vegas Grand Prix would provide it. Mark Thompson | Getty Images Sport | Getty Images

Persons: Charles Leclerc of Monaco, Ferrari, Mark Thompson, John Malone, Fred Vasseur, — Ferrari, Red Bull, Mercedes AMG, Zak Brown, CNBC's, Max Verstappen, Stuart Pringle, Malone, Brown, Stefano Domenicali, Alexander Albon, Williams FW45 Mercedes, Kevin Magnussen, Haas, Autodromo Jose Carlos Pace Organizations: Las Vegas, Circuit, Getty, Liberty Media, Formula, Liberty, Ferrari HP, Constructors, Honda, McLaren Racing, Oracle Red Bull, Prix, Qatar, Lusail, Netflix, Silverstone, CNBC, Dells, Miami, Austin, Vegas, Autodromo Jose Locations: Las Vegas , Nevada, Netherlands, parc ferme, Lusail City, Qatar, U.S, Vegas, Thailand, Denmark, Brazil, Sao Paulo

☆ Convenient No More: Why CVS, Walgreens, 7-11 Are in Trouble
▼ + stars: | 2024-10-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

What's more, many pharmacies serve as a convenient destination for all sorts of essentials, from aspirin to mascara. Big chains like Walgreens and CVS make their money in two main ways: selling prescriptions in the back of their stores and selling everyday goods out front. As Walgreens and CVS stores have proliferated over the past decade or so, many of their locations are basically right on top of each other. On the other end of the business, pharmacies are expensive to run. In the current landscape of commoditized pharmacies, there's no such thing as personalized service.

Persons: What's, Elizabeth Anderson, Neil Saunders, nilly, they've, Douglas Hoey, Jason Goldberg, Waits, Duane Reade, Brian Tanquilut, I've, Goldberg, Saunders, I'm, Nick Fabrizio, Steven Anderson, Fabrizio, Emily Stewart Organizations: Walgreens, CVS, Rite, Evercore ISI, Walmart, National Community Pharmacists Association, Express, Groupe, Jefferies, MTV, Cornell University, National Association of Chain Drug, Business Locations: mascara

☆ Why Brooklyn Peltz Beckham started a hot sauce brand: 'I wanted to make condiments sexy again'
▼ + stars: | 2024-10-20 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Brooklyn Peltz Beckham is only 25, but he's already tried his hand at a number of careers. Peltz Beckham, along with co-founders Gabe Pepe and Kai Gayoso, is behind the newly-released Cloud23, an elevated take on hot sauce now available at Whole Foods across the country. In an interview with CNBC Make It, Peltz Beckham said the idea for the company came to him during pandemic lockdowns. After doing research, Peltz Beckham says he found an opening in the hot sauce and condiment market where he could make his mark. What followed was three years of R&D, resulting in a hot sauce bottle that doesn't look quite like anything else on store shelves.

Persons: Brooklyn Peltz Beckham, he's, David's, Peltz Beckham, Gabe Pepe, Kai Gayoso, I'm Organizations: Brooklyn, CNBC

☆ China says it is beefing up efforts with U.S. to combat smuggling
▼ + stars: | 2024-10-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

HONG KONG — China is strengthening enforcement with nations such as the United States to combat smuggling and other serious crimes, state media reported Friday, citing the country’s National Immigration Administration. Smugglers and cross-border criminal groups at home and abroad have recently been “deceiving some people to participate in smuggling activities,” the administration said, without giving a specific time period or clarifying whether the smuggling involved goods, people or both. The United States has this year deported Chinese people who sought to enter the country illegally back to China with charter flights. The difficulty of obtaining U.S. visas and the economic aftershocks of China’s Covid-19 lockdowns led to a sharp increase in Chinese nationals presenting at the U.S.-Mexico border. That is more than the 52,700 who crossed in the entire 2023 fiscal year that ended in October.

Persons: lockdowns Organizations: Immigration Administration, United Locations: HONG KONG — China, United States, China, U.S, Mexico, Canada

☆ China reports better-than-expected retail sales and industrial production data
▼ + stars: | 2024-10-18 | by ( Christine Wang | In Christinejwang | ) www.cnbc.com time to read: +1 min

China on Friday reported better-than-expected retail sales and industrial production for September. Retail sales grew 3.2% from a year ago, better than the 2.5% growth estimated by analysts in an LSEG poll, the National Bureau of Statistics said. Meanwhile, industrial production expanded 5.4% in September from a year ago, more than the 4.5% expected by analysts. He noted that year-to-date retail sales data showed "cautious sentiment among consumers." From January to September, retail sales grew 3.35%, nearly same as the growth reported for January through August at 3.36%.

Persons: Gary Ng, Ng, —, Bao Organizations: Costco, National Bureau of Statistics, Natixis, Investors Locations: Nanjing, Jiangsu Province, China . China, China, Beijing, Covid

☆ Procter & Gamble earnings beat estimates, but weak demand in China hurts sales
▼ + stars: | 2024-10-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company reported flat volume for the quarter. The metric excludes pricing, which makes it a more accurate reflection of demand than sales. The company called out volume declines in China for both its hair care and oral care segments. Both P&G's health care and baby, feminine and family care divisions both reported 1% declines in volume for the quarter.

Persons: Gamble, Andre Schulten, Schulten Organizations: Procter, LSEG, SK, Gillette, Venus Locations: China, U.S, Greater China

In yet another incident, crowds of angry drivers gather outside an apartment complex, demanding justice for a fellow delivery driver said to be bullied by security guards there. They’re among the many episodes of explosive confrontations across China involving delivery workers widely circulated on Chinese social media, showing people stretched to the breaking point. As China’s economy grapples with a raft of setbacks, from a protracted property crisis to a lack of consumer spending, delivery workers are taking a beating. That eats into delivery workers’ income as their pay is usually tied to a commission based on the price of the order. In 2019, a delivery driver died after he was hit by a tree knocked over by strong winds in Beijing, according to state media Global Times.

Persons: “, ”, Jenny Chan, Chan, they’ve, Greg Baker, Morningstar, Alibaba, ’, Lu Sihang, Lu, China’s, Gary Ng, ” Ng, Pedro Pardo, Workers.cn, Yang, Justin Robertson Organizations: Hong Kong CNN, Polytechnic University of Hong, Getty, iiMedia Research, CNN, China New Employment Research Center, Research, China Labour Bulletin, Polytechnic University, Global Times, Chongqing Broadcasting Group Locations: Beijing, Hong Kong, China, Polytechnic University of Hong Kong, AFP, Chinese, Hunan

☆ It looks like the glory days of luxury are over for LVMH, at least for now
▼ + stars: | 2024-10-16 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

LVMH reported a 3% decline in sales in its most recent quarter. The drop is driven by decreased demand from Chinese consumers, affecting luxury sales. AdvertisementFrench luxury conglomerate LVMH, the world's largest luxury company, reported a 3% year-on-year decline in sales in its most recent quarter. On Wednesday, LVMH shares fell by nearly 7% in early trading, driven by waning demand from Chinese consumers, who were once key spenders of European luxury goods. Some Chinese luxury consumers have been flocking to Japan to take advantage of lower prices caused by the country's currency downturn.

Persons: LVMH, —, Louis Vuitton, Christian Dior —, lockdowns, Jean, Jacques Guiony Organizations: Service, Louis, National Development, Reform Commission Locations: Beijing, China, Covid, Asia, Japan, United States, Europe

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