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☆ China records fewest marriages in more than three decades as population crisis looms
▼ + stars: | 2023-06-12 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +5 min

Some 6.83 million couples married in 2022, according to data released by China’s Ministry of Civil Affairs on Friday. That’s down around 10.5% from the 7.63 million marriage registrations in 2021 and marks a record low since 1986, when the ministry began releasing statistics, according to state media. Chinese officials see a direct link between fewer marriages and falling births in the country, where social norms and government regulations make it challenging for unmarried couples to have children. Efforts from Chinese officials in recent years to reverse trends of falling marriages and births have yet to see results amid the looming economic and social issues at play. The Ministry of Civil Affairs’ recent data release also showed a slight fall in divorce registrations, with 2.1 million couples divorced in 2022, down from 2.13 million couples the previous year.

Persons: That’s, – Organizations: Hong Kong CNN, China’s Ministry of Civil Affairs, Communist, United Nations, Authorities, Communist Party, Communist Youth League, China Family Planning, Ministry, Civil Affairs, China isn’t Locations: Hong Kong, China, Beijing, Communist China, India, Japan, South Korea

☆ What Is Cash Value Life Insurance and Is It Worth It?
▼ + stars: | 2023-06-09 | by ( ) www.wsj.com time to read: +10 min

What is cash value life insurance? Although you’ll see insurance companies advertise various life insurance products, all policies can be divided into two categories: term and cash value. How your policy’s cash value worksCash value life insurance is so named because of its ability to build cash value. Types of cash value coverageThere are two main types of cash value insurance:Whole lifeWhole life insurance is the most popular form of cash value insurance. Universal lifeUniversal life policies are more flexible than whole life policies.

Persons: Kat Tretina, you’re, PolicyGenius, Jay Zigmont, “, they’re, ” Zigmont, Andrew Latham, you’ll, ”, Latham Organizations: Universal, American Council of Locations: Water Valley, Miss, Santa Ana, Calif

Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

☆ Opinion: LGBTQ Americans are in a state of emergency –and we should all do more about it
▼ + stars: | 2023-06-07 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +8 min

CNN —This week, the LGBTQ rights group Human Rights Campaign (HRC) declared a state of emergency for LGBTQ Americans, the first time the organization has ever done so. And frankly, given the state of women’s rights in many of the same states attacking LGBTQ people, women’s groups should do the same. Jill Filipovic Courtesy of Jill FilipovicIn the first quarter of 2023 alone, 417 anti-LGBTQ bills have been introduced in state legislatures. And no company should have to worry that a display of affirmation for LGBTQ Americans will result in vandalism, threats or harassment of employees. It is unconscionable for any company to require its employees live in states that criminalize abortion or that are attacking LGBTQ rights.

Persons: Jill Filipovic, it’s, –, doesn’t Organizations: Twitter, CNN, Human Rights, American Medical Association, American Academy of Pediatrics, Facebook Sports Locations: New York, United States, Florida

☆ El Salvador partnership to build $1 billion bitcoin mining farm
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, June 5 (Reuters) - A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday. Volcano Energy said the funds would go toward an estimated 241 MW power generation park using solar and wind energy in the northwestern municipality of Metapan, which will eventually power the bitcoin mining farm. Bitcoin mining uses high-power computers hooked up to a global network, sucking up massive amounts of electricity in the process. The El Salvador government will have "a preferred participation equivalent to 23% of the revenues" in the project, Volcano Energy said, with private investors holding 27%. Reporting by Nelson Renteria in San Salvador and Kylie Madry in Mexico City; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Josue Lopez, Max Keiser, Nelson Renteria, Kylie Madry, Aurora Ellis Organizations: SALVADOR, Volcano Energy, Salvadoran, Reuters, International Monetary Fund, El, U.S ., Thomson Locations: El Salvador, Salvador's, Metapan, San Salvador, Mexico City

☆ How Ford, GM auto dealers are thinking about Detroit's EV transition and their future
▼ + stars: | 2023-06-03 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +12 min

If consumers are to be sold on the mass adoption of battery-powered electric vehicles, car dealers are going to be essential to the pitch. But she expects more Ford dealers will opt in at a future date, once they observe a meaningful consumer shift to EVs. "Despite significant increases in EV sales in 2023, dealers are largely skeptical about the OEM's timeframes on the EV rollout," Kerrigan said. A dealer in Santa Monica may decide more quickly, "I need to be all-in on EVs," Maas said. It also caps their total EV sales at 25% of inventory.

Persons: Robb Hernandez, Hernandez, Brian Maas, Maas, EVs, Kerrigan, Ford, Erin Kerrigan, Kelley, BEV, Dealers, Jim Farley, Farley, Tesla, Tesla's, Ford's Organizations: Ford, Bloomberg, Getty, EV, GM, Camino Real Chevrolet, Car Dealers, California Air Resources Board, Kerrigan Advisors, Toyota, ICE, CNBC, Auto Locations: Colma , California, Monterey Park, Calif, California, U.S, Santa Monica, EVs, Eureka

☆ Joe Biden used his first Oval Office address to tout the debt ceiling deal and pledge continued bipartisanship
▼ + stars: | 2023-06-03 | by ( Associated Press | Chris Kaye | ) www.businessinsider.com time to read: +6 min

Biden used his first speech to the nation from the Oval Office to celebrate a "crisis averted." "Passing this budget agreement was critical. "Passing this budget agreement was critical. Even as he pledged to continue working with Republicans, Biden also drew contrasts with the opposing party, particularly over raising taxes on the wealthy, something the Democratic president has sought. The Congressional Budget Office estimates it could expand total eligibility for federal food assistance, with the elimination of work requirements for veterans, homeless people and young people leaving foster care.

Persons: Biden, —, Joe Biden, wouldn't, Kevin McCarthy, Biden's, Karine Jean, Pierre, Friday, McCarthy, Donald Trump Organizations: Service, White, Treasury Department, U.S, GOP, Social Security, Republicans, Democratic, Resolute, Congressional, Internal Revenue Service, Trump, House

☆ Biden signed the debt ceiling bill, marking the end to tense negotiations that brought the country to the brink of default
▼ + stars: | 2023-06-03 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

President Joe Biden signed the debt ceiling bill into law Saturday afternoon. The White House negotiated with Members of Congress for weeks before the bill finally passed on Thursday. Eventually, the White House began weeks of intense negotiations with House Speaker Kevin McCarthy, R-Calif., to reach a deal. The Senate passed the bill quickly by a vote of 63-36 Thursday night, two days before Biden signed it into law. But the White House said the IRS' plans to step up enforcement of tax laws for high-income earners and corporations would continue.

Persons: Joe Biden, —, Biden, Kevin McCarthy, McCarthy Organizations: White, Service, Treasury Department, U.S, Democratic, Republican, Social Security, Senate, AP, Congressional, Internal Revenue Service, Trump, House

☆ Many Walmart shoppers will soon see new packaging as retailer tries to cut waste
▼ + stars: | 2023-06-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

—‎‏ Shoppers who click the "buy" button on Walmart 's website and pick up items curbside will soon spot a difference: new packaging. "It's about making sustainability the everyday choice for our customers," said Jane Ewing, Walmart's senior vice president of sustainability. Walmart wants to reduce packaging as online sales become a bigger part of its business. Other retailers are trying to cut down on packaging and cater to customers who care about sustainability, too. Amazon has also used more made-to-fit packaging after investing two years ago in CMC, a company that makes the packaging machine.

Persons: Jane Ewing, Walmart's Organizations: Walmart, U.S, Target Locations: BENTONVILLE, Ark, U.S

☆ Exclusive: Mexico mulls benefits of Banamex purchase, eyes synergies with state bank
▼ + stars: | 2023-05-31 | by ( Anthony Esposito | ) www.reuters.com time to read: +3 min

U.S. lender Citigroup scrapped its sale of the Banamex unit last week and said it will instead list it, a surprise move coming amid talks to sell the business to Mexican billionaire German Larrea's conglomerate Grupo Mexico (GMEXICOB.MX). "The Finance Minister has asked us to evaluate the different scenarios in which it might be beneficial for Mexico to acquire the bank," Deputy Finance Minister Gabriel Yorio told Reuters. After Citi announced its IPO plans, President Andres Manuel Lopez Obrador said the government could acquire up to half of Banamex. Before Citi's u-turn, banking sources said Grupo Mexico had been eyeing the unit for around $7 billion. "Banamex, in fact, has had a significant deterioration in its payment systems, precisely because it was in this sale process," he said.

Persons: Gabriel Yorio, Andres Manuel Lopez Obrador, Yorio, Lopez Obrador, Banamex, Anthony Esposito, Valentine Hilaire, Dave Graham, Mark Porter, Diane Craft Organizations: MEXICO CITY, Citigroup Inc's, Banco, U.S, Citigroup, Grupo Mexico, Finance, Reuters, United, Citi, Welfare Bank, Thomson Locations: MEXICO, Mexico, German, Kuwait, Saudi Arabia, Oman, Qatar, United Arab Emirates, expropriate

☆ Cross-border payroll is complicated — and risky. From tax and labor laws to forex and banking regs, here's what you need to know.
▼ + stars: | 2023-05-22 | by ( Sponsor Post | Created Papaya With Insider Studios | ) www.businessinsider.com time to read: +17 min

The challenges and complexities of cross-border payroll paymentsCross-border payroll payments can present several challenges and complexities for employers. Banking systemsSome countries have a less developed banking system, which can make the process of cross-border payroll payments more complex. Cons:Limited acceptance: In some countries, payroll cards may have limited acceptance, making them less attractive as a cross-border payroll payment method. The role of technology in streamlining the process of cross-border payroll paymentsMost payroll companies outsource the delivery of payroll payments. Manage cross-border payroll payments effectivelyAdopting a dedicated technology for global payroll payments — like Papaya Global — can make the process of paying your global workforce faster, smoother, and more reliable.

Persons: paychecks, Banks Organizations: Mastercard, Employers, Global, McKinsey Global, Insider Studios Locations: Canada, New York, India, United States, Belgium

☆ Factbox: The JPMorgan executives who will update investors on First Republic, strategy
▼ + stars: | 2023-05-22 | by ( Nupur Anand | ) www.reuters.com time to read: +5 min

REUTERS/Marco... Read moreNEW YORK, May 22 (Reuters) - JPMorgan Chase & Co (JPM.N) executives will update investors on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger. CEO Jamie Dimon and other top executives will present their strategies at an investor day at its headquarters in New York on Monday. Lake and Piepszak are among the executives in charge of integrating First Republic Bank after it was shuttered by authorities on May 1. JEREMY BARNUM, CHIEF FINANCIAL OFFICERBarnum was promoted to CFO in 2021 after leading global research. The finance chief joined JPMorgan in 1994, serving in various roles including CFO and chief of staff for the investment bank.

☆ Ahead of G7, Japan PM welcomes more investment from global chipmakers
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

TOKYO, May 18 (Reuters) - Prime Minister Fumio Kishida said he welcomed and expected more investment from global chipmakers in Japan, which is striving to revive its chip sector, after meeting top executives on Thursday before a Group of Seven summit. Growing Taiwan and U.S. tensions with China have brought serious challenges to the semiconductor industry, with Taiwan a major producer of chips used in everything from cars and smartphones to fighter jets. "I am very pleased with your positive attitude towards investment in Japan, and would like the government as a whole to work on further expanding direct investment in Japan and support the semiconductor industry," Kishida said. In particular, Kumamoto prefecture in southwestern Japan is quickly becoming a hotbed for tech investment from companies including TSMC and Fujifilm Holdings Corp (4901.T). The G7 summit runs from Friday to Sunday, and Kishida is set to meet with U.S. President Joe Biden later on Thursday.

☆ Japan PM expects more investment from global chipmakers
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 18 (Reuters) - Japanese Prime Minister Fumio Kishida said he expected additional investment from global chipmakers in Japan after meeting top executives on Thursday ahead of a Group of Seven (G7) summit. Executives from Micron Technology Inc (MU.O), IBM Corp (IBM.N), Applied Materials (AMAT.O) and Samsung Electronics (005930.KS), among others, also met Kishida. The company is also poised to get about 200 billion yen in financial incentives from Japan to help it make next-generation memory chips in the country, Bloomberg News reported on Wednesday. read moreKishida also said the government would work on expanding foreign direct investment in Japan. read more($1 = 135.0500 yen)Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Micron poised to get $1.5 bln from Japan for next-gen chips - Bloomberg News
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Micron Technology Inc (MU.O) is poised to get about 200 billion yen ($1.48 billion) in financial incentives from Japan to help it make next-generation memory chips in the country, Bloomberg News reported on Wednesday, citing people familiar with the matter. Micron will use the funding to install advanced, extreme ultraviolet (EUV) chipmaking equipment from ASML Holding NV (ASML.AS) at its Hiroshima facility to fabricate DRAM chips, the report said. DRAM chips are memory chips that lose the memory when the power is off. Micron is also expected to contribute its own capital to the Hiroshima expansion with some support from the city, Bloomberg added. Micron, ASML and Japan's Ministry of Economy, Trade and Industry did not immediately respond to Reuters requests for comment.

☆ Chipmakers look to Japan as worries about China grow
▼ + stars: | 2023-05-18 | by ( ) edition.cnn.com time to read: +2 min

Japanese Prime Minister Fumio Kishida said he welcomed and expected more investment from global chipmakers, after meeting top executives on Thursday before a Group of Seven summit. Growing Taiwan and US tensions with China have brought serious challenges to the semiconductor industry. “I am very pleased with your positive attitude towards investment in Japan, and would like the government as a whole to work on further expanding direct investment in Japan and support the semiconductor industry,” Kishida said. Japan's Prime Minister Fumio Kishida meets executives of major global chipmakers ahead of a G7 summit. In particular, Kumamoto prefecture in southwestern Japan is quickly becoming a hotbed for tech investment from companies including TSMC and Fujifilm Holdings Corp (FUJIF).

☆ Illumen Capital just closed its second fund worth $168 million to tackle racial and gender bias in asset management using this 10-slide LP deck
▼ + stars: | 2023-05-16 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A fund of funds investing to make venture capital more equitable just closed its second fund. Oakland-based Illumen Capital secured $168 million to back people of color and women. An impact fund of funds tackling racial and gender bias in asset management has just closed its second $168 million fund with the Ford Foundation and W.K. As a fund of funds, Illumen Capital hopes to solve this by addressing implicit biases. When looking at the data, Illumen Capital found that they had the same revenue marks as white entrepreneurs not considered too early.

☆ A Nascent ‘YIMBY’ Movement
▼ + stars: | 2023-05-16 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

“My living room is bigger than any apartment in New York I ever had,” said Eduardo Lerro, 45, a former public-school teacher who now lives in Minneapolis and works as a consultant. In many ways, the trend is a healthy one. Americans are responding rationally to financial incentives and building lives for themselves in new places. It helps that more cities have added amenities once associated with the Northeast and the West Coast. “There’s good Indian and Thai food to be found in more places.

President Xi Jinping recently attended a meeting concerned with population development, it added with the newspaper describing population development as a major event linked to China's "great rejuvenation". Concerned about China's first population drop in six decades last year and its rapid ageing, the government has urgently embarked on measures to lift the country's birth rate including financial incentives and boosting childcare facilities. China will double the number of childcare centres by 2025, state-backed broadcaster CCTV said on Tuesday, with the headline "It is no longer difficult to take care of a baby". Gender discrimination and traditional thinking that places the burden of caring for children mostly on women are still widespread throughout the country. Opening up fertility services to unmarried women may help to boost the country's fertility rate, the government's political advisers proposed in March.

☆ Chipotle, Papa John's link ESG goals to bonus compensation, and pay practice is moving below the C-suite level
▼ + stars: | 2023-05-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +9 min

Companies are increasingly linking ESG metrics to executive compensation packages. That percentage of Russell 1000 companies linking ESG goals to compensation has quickly grown in recent years, from 14% in 2020 to 18% in 2021 to 28% in 2022. In 2021, Mastercard changed its executive compensation model for its most senior executives, EVPs and above, to link their bonus structure to goals set around carbon neutrality, financial inclusion and gender pay parity. Papa John's took a similar step last year, introducing an ESG bonus incentive for eligible employees and executives for goals around enhancing diversity, equity and inclusion, environmental impact, and its broader mission around cleaner and better ingredients. "For example, if there is an ESG goal around emissions, does a director of finance have any direct oversight or responsibility for how that is achieved?"

☆ Biden Wants Airlines to Pay Passengers for Delays. In Europe, they already do
▼ + stars: | 2023-05-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +2 min

“Airlines already have financial incentives to get their passengers to their destination as planned,” Willie Walsh, the director general of the International Air Transport Association, a lobbying group, said in a statement criticizing the Biden plan. Europe’s air passenger rights regulation hasn’t been a panacea. Mr. Zenere, for example, is still arguing with Wizz Air, the airline that delayed his trip to Venice last year. — Bernhard WarnerTell us what you think: What changes would you like to see introduced to make the air travel experience smoother? Yaccarino, who was NBCUniversal’s head of advertising, will take over a company that has struggled to expand its ad business.

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ Microsoft agrees to buy electricity generated from Sam Altman-backed fusion company Helion in 2028
▼ + stars: | 2023-05-10 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

Photo courtesy HelionMicrosoft said Wednesday it has signed a power purchase agreement with nuclear fusion startup Helion Energy to buy electricity from it in 2028. "This is the first time that I know of that a company has a power purchase agreement signed," Holland told CNBC. The potential of fusion is "unbelievably huge," Altman told CNBC. As of Tuesday, this is still his largest investment ever, Altman told CNBC. Carbon-free energy includes hydro, nuclear and renewables for Microsoft, a Microsoft spokesperson told CNBC.

To revive its fortunes, the government late last year published its Edinburgh Reforms agenda comprising over 30 proposed changes to existing rules. "There are a variety of factors that keep somewhere attractive in terms of investment, listing and being an international finance centre." "We want the UK to be the world's most innovative and competitive global financial centre," the spokesperson added. CHALLENGING ASSUMPTIONSSupporters of a more vibrant UK stock market are also increasing pressure on bankers managing IPO processes to challenge assumptions about London's poorer liquidity or post-IPO performance, relative to rival venues. Proposed changes to UK listings are encouraging, but may not be enough, said Steve Bates, BIA CEO.

☆ Vitamin Shoppe owner taken private in $2.6 bln deal with CEO-led group
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Vitamin Shoppe owner Franchise Group Inc (FRG.O) would be taken private by a group led by CEO Brian Kahn in a deal valued at about $2.6 billion, the company said on Wednesday. Shares of Franchise, which also owns retailer Buddy's Home Furnishings and discount furniture store American Freight, climbed about 3% premarket. The offer price represents an equity value of about $1.05 billion. The company in March disclosed it had received an unsolicited proposal for a buyout, but did not disclose any details about the buyer. Reporting by Deborah Sophia in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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