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☆ Keir Starmer must fix Britain’s economic mess after UK election win
▼ + stars: | 2024-07-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —British voters have handed the Labour Party its first election victory in almost two decades, hoping that a new center-left government will revive Britain’s ailing economy and fix collapsing public services. The win is a triumph for Keir Starmer, a former chief prosecutor who only entered parliament in 2015 and will become prime minister later Friday. “It feels good, I have to be honest.”But Labour’s jubilation may soon give way to trepidation given the economic challenges ahead. Making these problems even harder to solve: stubbornly low economic growth. To some extent, the government is likely hoping economic growth will be stronger than forecast and help with both goals.

Persons: Conservative Party —, Keir Starmer, ”, ” Gregory Thwaites, ” ‘, “, Paul Johnson, —, Dominic Lipinski, Johnson, Louise Hellem, Rachel Reeves, Stefan Rousseau, ” Brexit Organizations: London CNN — British, Labour Party, Conservative Party, National Health Service, Universal Credit, CNN, Labour, for Fiscal Studies, Bloomberg, Getty, Wealth Fund, Great, Great British Energy, “, Confederation of Business Industry, Conservative, Shadow, AP, European Union, Trade Locations: England, Scotland, Wales, Selby, UK, Great British, Britain, Southampton, United States

☆ Here's where the jobs are for June — in one chart
▼ + stars: | 2024-07-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Health care and social assistance added 82,400 jobs, while government increased by 70,000 positions. The breakdown of the June jobs report suggests that growth has become increasingly uneven as the labor market shows signs of softening. Health care and social assistance have been a key component of the labor market recovery since the pandemic. Meanwhile, education accounted for 17,200 of the jobs added in the government sector. Both state and local governments added jobs outside of education, as well.

Persons: nonfarm payrolls, Jeffrey Roach, payrolls, Roach Organizations: Labor Department, LPL

☆ CNBC's Inside India newsletter: An education scandal years in the making
▼ + stars: | 2024-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Yet, the system has also exacerbated the social divide between the haves and have-nots, who are confined to the largely abysmal state-run education system. That means entrance tests and examinations are a high-stakes juncture in a person's life. A half-hearted attempt at testing the country's education system in 2021 was aborted when the Covid-19 pandemic hit the country. The company, which offers services ranging from online tutorials to offline coaching, attracted billions of dollars from investors worldwide during the pandemic when online education services were in high demand. One of the companies it bought was an offline test preparation service called Aakash Education Services, which is still expected to IPO this year.

Persons: Firdous Nazir, NurPhoto, Cram, —, Byju's Organizations: Youth Congress, Getty, Testing Agency, Reuters, FIFA, Aakash Education Services Locations: Jammu, Kashmir, India, Kota, Rajasthan, PISA, Kyrgyzstan, Turkish

☆ Canada's bold plan to make housing more affordable is showing signs of working — and could be a model for the US
▼ + stars: | 2024-07-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Like the American federal government, Canada's national government doesn't have a lot of control over housing policy. Related storiesOverall, the federal push has already been quite successful in changing the housing policy landscape across the country, Moffat said. Over the last several years, an influx of new immigrants, rampant investor speculation, and rapidly rising construction costs have also sent prices up. It would also impose a fine on cities that tolerate "NIMBY" — the anti-development "Not in My Backyard" philosophy — opposition to housing construction. Some American fans of Canada's Housing Accelerator Fund suggest it could be a model for US efforts to incentivize denser and more abundant housing construction.

Persons: i'm, it's, Mike Moffatt, Moffat, —, Justin Trudeau, Trudeau, Matti Siemiatycki, Siemiatycki, there's, densification, Pierre Poilievre, hasn't, Joe Biden's Organizations: Service, Business, Smart Prosperity, University of Ottawa, Housing, Liberal, Infrastructure Institute, University of Toronto's, of Cities, Concordia University, Conservative Party, Investment, Jobs Locations: Canada, Ottawa, British Columbia, Ontario, Alberta, California, United States

☆ America has a serious ugly home problem
▼ + stars: | 2024-07-02 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Recently she posted a video on her YouTube channel in which she phrased the question more bluntly: "Why are homes so 'ugly' now?" Most people agree that America needs more houses, but nobody seems all that thrilled with the ones being built. Related storiesThe blame for America's architectural nightmare, however, doesn't stop at production builders, rising costs, or local codes. Homes look this way because they're not just places where we live — they're also supposed to help us get rich. As they stare down these rising costs, builders and architects have almost no choice but to streamline or opt for cheaper design elements.

Persons: Bailey McInnes, McInnes, they're, James Wentling, John Burns, Peter Dennehy, They're, Dan Reynolds, Horton, Lennar, Kate Wagner, she's, —, Wagner, Marcia Straub, William Morgan, it's, Queen Anne Organizations: HGTV, YouTube, Facebook, Builders, Bureau of Labor Statistics, National Association of Home Builders, John Burns Research, Consulting, Harvard's, for Housing Studies, Harvard, The Locations: Northern Virginia, America, homebuilding, Providence , Rhode Island

CNN —At least four people have died and another is missing due to flooding this weekend in southern Switzerland, according to local police and Swiss state media. Police in Switzerland’s Valais canton said another man was found dead in a hotel in Saas-Grund, adding that initial findings suggest he could have been taken by surprise by the rapidly rising waters. The public prosecutor’s office has opened an investigation into the case of the missing man in Binn and the man found dead in Saas-Grund, police said. As a result of the flooding, the Valais canton said it called on the army to provide support. Meanwhile in France, the department of Haute-Saône, which is near the border with Switzerland, was also hit with strong storms overnight.

Persons: SRF, Boris Heger, ”, Saône Organizations: CNN, Police, Getty Locations: Switzerland, Swiss, Maggia, Switzerland’s Valais, Saas, Binn, Valais, Grund, Sierre, AFP, Canton, Upper Valais, France, Haute

☆ Over 100 same-sex couples get married at mass wedding ceremony in Mexico
▼ + stars: | 2024-06-29 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +1 min

Mexico City Reuters —Over a hundred same-sex couples tied the knot on Friday in a group ceremony that was both romantic and political as part of Mexico City’s gay pride celebrations month. The ceremony started with a concert by the Gay Choir of Mexico City, followed by a civil ritual to exchange vows and formalize the marriage. ReutersMexico City, the capital city of Mexico, was in the global vanguard regarding same-sex marriage. Mass same-sex weddings are part of an annual ceremony that takes place during Pride Month in the city. In 2023, hundreds of same-sex couples and transgender people in Mexico City celebrated weddings and the completion of administrative processes to change their gender.

Persons: “, ”, Ricardo Mercado Organizations: Reuters, Gay Choir of, Pride Month, Pride Locations: Mexico, Gay Choir of Mexico City, Reuters Mexico City, Mexico City

☆ The Supreme Court just made it easier for governments to remove unhoused people from public spaces
▼ + stars: | 2024-06-28 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Read previewThe Supreme Court on Friday ruled that it's constitutional for local governments to make it illegal to sleep in public places, even when there isn't sufficient shelter space. The case — City of Grants Pass v. Johnson — is the most consequential the court has decided dealing with homelessness in decades. AdvertisementThe Supreme Court ruled that laws regulating sleeping in public places don't constitute cruel and unusual punishment. Homeless rights activists held a rally outside the U.S. Supreme Court on April 22, 2024, the day the court heard oral argument in City of Grants Pass, Oregon v. Johnson. An increasing number of cities and states across the country have passed laws — often anti-camping ordinances — similar to that in Grants Pass.

Persons: —, Johnson —, Justice Neil Gorsuch, Johnson, California —, Gorsuch, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Kevin Dietsch, Gavin Newsom, Newsom, Ron DeSantis, Jesse Rabinowitz Organizations: Service, Business, Circuit, Homeless, U.S, Supreme, Democratic, California Gov, Gov, National Homelessness Law Center Locations: Grants, Grants Pass , Oregon, Martin v, Boise, California, City, Grants Pass, Oregon, Florida

☆ Here's where Trump and Biden stand on reining in soaring home prices and rents ahead of their first debate
▼ + stars: | 2024-06-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Former President Donald Trump has promised to attack President Joe Biden specifically on inflation. Even as the Federal Reserve has raised interest rates, demand and prices have stayed high, keeping housing inflation stubbornly elevated. Where Trump standsAs president, Trump didn't pursue as many policies directly intended to make housing more affordable. While in office, Trump's proposed budgets included significant cuts to agencies that provide federal housing subsidies, including the Department of Housing and Urban Development. Trump hasn't talked much about housing policy on the campaign trail, despite arguing that Biden hasn't done enough to control housing costs.

Persons: Donald Trump, Joe Biden, Trump, Biden, —, James Marshall, I'm, Kamala Harris, Janet Yellen, haven't, Trump's, suburbanites, Obama, Karoline Leavitt Organizations: Service, Business, Harvard, Federal Reserve, Tax, Union, Republicans, Biden, Department of Housing, Urban Development, Center, Budget, Trump, Homeless, NPR Locations: homeownership, Vegas, State, Nevada, Las Vegas

☆ Supreme Court Rejects Liability Shield at Center of Purdue Pharma Settlement
▼ + stars: | 2024-06-27 | by ( Abbie Vansickle | ) www.nytimes.com time to read: +1 min

The Supreme Court ruled on Thursday that members of the wealthy Sackler family cannot be shielded from lawsuits over their role in the opioid crisis as part of a bankruptcy settlement that would channel billions of dollars to victims and their families. In a 5-to-4 decision, written by Justice Neil M. Gorsuch, a majority of the justices held that the federal bankruptcy code does not authorize a liability shield for third parties in bankruptcy agreements. Justice Gorsuch was joined by Justices Clarence Thomas, Samuel A. Alito Jr., Amy Coney Barrett and Ketanji Brown Jackson. In a strongly worded dissent, Justice Brett M. Kavanaugh wrote that the “decision is wrong on the law and devastating for more than 100,000 opioid victims and their families.” He was joined by Chief Justice John G. Roberts Jr. and Justices Sonia Sotomayor and Elena Kagan. The decision jeopardizes a carefully negotiated settlement Purdue and the Sacklers had reached in which members of the family promised to give up to $6 billion to states, local governments, tribes and individuals to address a devastating public health crisis.

Persons: Sackler, Justice Neil M, Gorsuch, Clarence Thomas, Samuel A, Alito Jr, Amy Coney Barrett, Ketanji Brown Jackson, Brett M, Kavanaugh, John G, Roberts Jr, Sonia Sotomayor, Elena Kagan Organizations: Chief, Purdue

☆ Purdue Opioid Settlement on Verge of Collapse After Supreme Court Ruling
▼ + stars: | 2024-06-27 | by ( Jan Hoffman | ) www.nytimes.com time to read: +1 min

The hard-fought settlement of thousands of lawsuits against Purdue Pharma was close to capsizing on Thursday, after the Supreme Court rejected liability protections for the company’s owners. The ruling effectively prevents the release of billions of dollars that could help alleviate the ravages of opioid addiction. The future of the cases, some of which are a decade old, is now in limbo, as states, local governments, tribes and more than 100,000 individuals who sued the company, best-known for its prescription painkiller OxyContin, figure out next moves. The court effectively upended the settlement by striking down a provision that Purdue’s owners, members of the billionaire Sackler family, had insisted upon: immunity from all current and future opioid lawsuits in return for payments of up to $6 billion to plaintiffs. In a statement, Purdue called the decision “heart-crushing,” because the settlement had been agreed to by an overwhelming majority of plaintiffs.

Persons: Sackler Organizations: Purdue Pharma, Purdue Locations: capsizing

☆ 2 St. Louis residents are suing the city's basic income program in an attempt to halt what they call 'unconstitutional' $500 monthly payments to low-income families
▼ + stars: | 2024-06-26 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Read previewAs St. Louis continues its guaranteed basic income pilot, two residents are suing to cut the program's funding. The plaintiffs, Greg Tumlin and Fred Hale, are both St. Louis residents. Adam Layne, the St. Louis city treasurer, previously told BI that St. Louis residents have primarily used their $500 a month to pay bills. BI reached out to the city of St. Louis and St. Louis Guaranteed Income for comment, but the parties did not respond by the time of publication. States like South Dakota, Arizona, and Iowa, Republican politicians have also brought basic income bans to the state legislature.

Persons: —, Louis, Greg Tumlin, Fred Hale, Tumlin, Adam Layne, Louis GBI, Joe Biden's, Jack Dorsey, St, Ken Paxton, Attorney Christian D Organizations: Service, Business, ARPA, BI, Texas Supreme, Attorney Locations: Missouri, state's, Louis, St, Texas, Harris, Harris County, Houston, States, South Dakota , Arizona, Iowa

☆ Here's where BlackRock sees opportunity in municipal bonds
▼ + stars: | 2024-06-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Municipal bonds are a great way for investors to grab some tax-advantaged income, they'll just have to be nimble, according to BlackRock. "Municipal bonds offer investors high after-tax income with less volatility compared to other fixed income assets and remain a good diversifier to equity and equity-like risk," Carney said. Where BlackRock sees opportunity Within muni bonds, BlackRock specifically likes focusing on states that primarily rely on consumption taxes. Those states that focused on personal income taxes, like California and New York, experienced much greater declines, he said. Lastly, essential revenue bonds tend to be more durable since they are drawing on revenue.

Persons: they'll, Sean Carney, Carney, BlackRock, munis Organizations: muni, BlackRock, Bond, Reserve, AA Locations: BlackRock, Florida , Nevada , Tennessee, Washington, California, New York

☆ Barcelona ending apartment rentals by foreign tourists
▼ + stars: | 2024-06-24 | by ( ) edition.cnn.com time to read: +3 min

The city’s leftist mayor, Jaume Collboni, said that by November 2028, Barcelona will scrap the licenses of the 10,101 apartments currently approved as short-term rentals. The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68% in the past 10 years and the cost of buying a house rose by 38%, Collboni said. Local governments have announced restrictions on short-term rentals in places such as Spain’s Canary Islands, Lisbon and Berlin in the past decade. Vacation rentals platform Airbnb, which hosts a significant number of Barcelona listings, did not immediately respond to a request for comment. “Collboni is making a mistake that will lead to (higher) poverty and unemployment,” Barcelona’s tourist apartments association APARTUR said in a statement, adding the ban would trigger a rise in illegal tourist apartments.

Persons: Jaume Collboni, ” Collboni, Spain’s, Collboni, Isabel Rodriguez, “, ”, APARTUR Organizations: CNN —, Barcelona Locations: CNN — Barcelona, Spanish, Barcelona, Spain, Europe, Islands, Lisbon, Berlin

☆ China growth worries have hit a big alcohol stock. Why some analysts see a buy opportunity
▼ + stars: | 2024-06-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"Flying Fairy," a 53% alcohol from Shanghai-listed Kweichow Moutai , saw wholesale prices drop by more than 5% in a week. He agreed the drop in wholesale prices won't have a big impact on Moutai's immediate earnings. What's also different about Moutai's stock decline is that investors aren't rushing in to bottom fish as they have in the past, Ye said. "The recent wholesale price drop we think is mostly triggered by the arbitragers in the market," Morningstar's Song said. She expects wholesale prices to increase in coming months given major Chinese holidays in the fall.

Persons: stoking, That's, Jennifer Song, Song, Kweichou Moutai, Ye Yuhua, What's, Ye, Moutai, Huatai, Moutai's, Goldman Sachs Organizations: Nomura, Morningstar, Stock, Capital, Financial Holdings, JPMorgan, Macquarie Locations: Shanghai, Guangzhou, Hainan

☆ Tree of Life Synagogue to Break Ground on New Sanctuary, and New Mission
▼ + stars: | 2024-06-22 | by ( Campbell Robertson | ) www.nytimes.com time to read: +1 min

Debates over antisemitism have flared for months on college campuses, in local government meetings and in Congress, in many cases boiling down to bitter disagreements over what is, and what is not, antisemitism. There was no such argument five and a half years ago in Pittsburgh. When 11 worshipers were killed at the Tree of Life synagogue on Oct. 27, 2018, the gunman who carried out the massacre was blunt in his bigotry, declaring beforehand on social media that he was acting out of a conviction that Jewish people were conspiring to replace the white race. On Sunday, members of the Tree of Life congregation will gather to break ground for a memorial and a new Tree of Life building. It is a story that has gotten more complicated to tell since the Hamas-led attack on Israel on Oct. 7 and the war that has followed.

Persons: Daniel Libeskind Locations: Pittsburgh, America, Israel

☆ Chinese cities desperate for cash are chasing companies for taxes — some from the 1990s
▼ + stars: | 2024-06-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, the soy milk seller made a net profit of only 209 million yuan ($29 million). And it’s still unsure how much it owes in fines, which could be potentially higher than the actual $11.7 million tax bill. Including fines, the company needed to pay a total amount of 480 million yuan ($66 million). The amounts paid vary from 8 million yuan ($1.1 million) to 310 million yuan ($43 million). It said in January that the Shenzhen government had asked for payment of 19.8 million yuan ($2.7 million) in back taxes for 2017 and 20.2 million yuan ($2.8 million) in fines.

Persons: they’ve, ”, Craig Singleton, Frank Tian Xie, ” Singleton, it’s, ” Bohui, “ Organizations: Hong Kong CNN — Authorities, Food & Beverage, Foundation for Defense of Democracies, Administration of Taxation, “ Police, Taxation, Centers ”, University of South, University of South Carolina Aiken, Ningbo Bohui Chemical Technology, Healthcare, ChinaLin Securities, Yixintang Pharmaceutical Group Locations: China, Hong Kong, Zhijiang, Hubei, Yichun, Jiangxi, University of South Carolina, “, ” Beijing, Ningbo, Qinghai, Golmud, Chongqing, Shanghai, Shenzhen

☆ Biden to ban U.S. sales of Kaspersky software over ties to Russia, source says
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +4 min

Kaspersky Internet Security software is seen at the store in Krakow, Poland on December 30, 2021. A spokesperson for the Commerce Department declined to comment, while Kaspersky Lab and the Russian Embassy did not respond to requests for comment. Previously, Kaspersky has said that it is a privately managed company with no ties to the Russian government. The new restrictions on inbound sales of Kaspersky software, which will also bar downloads of software updates, resales and licensing of the product, kick in on Sept. 29, 100 days after publication, to give businesses time to find alternatives. If it only adds the Russian entity, the impact will be largely reputational.

Persons: Biden, Trump, Kaspersky, Donald Trump Organizations: Commerce Department, Russian Embassy, Biden, Department of Homeland Security, Kyiv, U.S, Reuters, Piaggio, Qatar Olympic Committee Locations: Krakow, Poland, United States, U.S, Russian, Moscow, Ukraine, Russia, China, New U.S, Massachusetts, Spain

☆ Live updates: US heat wave as record temperatures across central and Eastern US bring natural disasters
▼ + stars: | 2024-06-18 | by ( Antoinette Radford Elise Hammond Maureen Chowdhury Mary Gilbert Eric Zerkel | Antoinette Radford | Elise Hammond | ) edition.cnn.com time to read: +1 min

Advocacy groups are petitioning Federal Emergency Management Agency (FEMA) to include extreme heat and wildfire smoke as major disasters in the same way they do for hurricanes and other major disasters and emergencies. Extreme heat is by far the most deadly kind of weather, killing on average more than twice as many people each year as hurricanes and tornadoes combined, according to data tracked by the National Weather Service. But as CNN as previously reported, FEMA’s hands are tied by congress and the Stafford Act — the federal law that gives FEMA the power to respond to emergencies and determines what qualifies as one. The petition notes that the Stafford Act can be easily amended as it was just a few years ago to respond to the Covid-19 pandemic. On the other side of the country, a dangerous, long-duration heat wave is tightening its grip on the Northeast and parts of the Midwest.

Persons: Stafford, Ella Nilsen, Rob Shackelford Organizations: Federal Emergency Management Agency, FEMA, National Weather Service, CNN, Tribal, National Interagency Fire Center

☆ China’s property prices are still plunging despite government efforts to rescue the market
▼ + stars: | 2024-06-17 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday. According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record. A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases. Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said. Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.

Persons: ”, “ Organizations: Hong Kong CNN, National Bureau of Statistics, Macquarie Group, Societe Generale, NBS, Labor, Macquarie, HSBC, Communist Party Locations: China, Hong Kong, Beijing

☆ Rich tourists rejoice! Greece is finally doing something about the cruise ship problem.
▼ + stars: | 2024-06-15 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTourists headed to the expensive hotels of Mykonos and Santorini: rejoice! About 36 million people visited Greece last year, up 20.8% from 2022, according to data from the Bank of Greece. Advertisement"In Santorini, even tourists complain about the great number of tourists," Greece's ombudsman said in a report released on Thursday. In fact, Koru, the superyacht owned by Jeff Bezos, has already made its way to Greece for the summer.

Persons: —, Kyriakos Mitsotakis, Louis Vuitton, Mykonos, Georgios Hatzimanolis, Jeff Bezos Organizations: Service, Bloomberg, Business, Bank of Greece, Bank of, Greek Tourism, Louis Locations: Mykonos, Santorini, Greece, Bank of Greece, Soho

☆ Abortion: Trump walks fine line but allies and activists have big plans for a second term
▼ + stars: | 2024-06-14 | by ( Phil Mattingly | Andrew Seger | ) edition.cnn.com time to read: +16 min

“I believe he’ll be a pro-life president in the future also.”Many senior Trump administration alumni and allies are now mapping out and drafting policy options for a second Trump term. A second Trump term would also put back in place and expand restrictions on Title X grants – federal funds for public and nonprofit groups that provide family planning. Resurrecting these actions in a second Trump would almost entirely be up to the discretion of whomever he appoints to lead the relevant federal agencies. With Roe v. Wade’s protections erased, anti-abortion activists would like a second Trump administration to push harder than it did before – especially in restricting access to mifepristone. Abortion rights advocates worry he could play an outsize role shaping abortion restrictions in a potential second Trump administration.

Persons: Donald Trump’s, Ronald Reagan, ”, Roe, Wade, Dobbs, Trump, ” Trump, “, Trump –, Joe Biden’s, Kellyanne Conway, ’ ”, Mary Ziegler, Davis, Roger Severino, Trump’s, Reagan, Biden, ” Julie Lewis, Ziegler, David S, Cohen, Comstock, Skye Perryman, ” Mark Lee Dickson, Donald J, ” Dickson, “ He’s, Jonathan Mitchell, Mitchell Organizations: CNN, Trump, New, Capitol, “ Republicans, Democratic, Republican, Fox, Heritage Foundation, Biden’s, Department, University of California, Trump Health, Human Services, HHS, Food and Drug Administration, DOJ, UC Davis, Food, FDA, ” Drexel University, White, Justice Department, Democracy, Department of Justice, Cities, mifepristone, Time Locations: New York, Florida, Arizona, Mexico, Texas, America, United States, Colorado

☆ China needs bond market reforms to rein in soaring debt, S&P Global says
▼ + stars: | 2024-06-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

China needs bond market reforms as soaring debt poses significant longer-term risk to the country, according to S&P Global. Despite the government's efforts, debt levels remain very high even as nominal GDP growth has slowed, the rating agency said in a report on Thursday. "Policymakers understand the need to simultaneously control leverage and sustain economic growth" to manage systemic risks over the long-term, the analysts noted. But market reforms appear to have "taken a back seat," with authorities focused on addressing pressing issues such as the real estate crisis, stimulating economic growth, as well as keeping local government debt under control, S&P said. Pushing ahead with bond market reforms may be necessary to "concurrently" tackle those challenges, as it could lower debt levels over the long term, the report said.

Organizations: P Locations: Hangzhou, China

☆ A crocodile was terrorizing this Australian town. So residents cooked and ate it
▼ + stars: | 2024-06-13 | by ( Angus Watson | ) edition.cnn.com time to read: +2 min

CNN —A remote Australian community has taken revenge on a massive saltwater crocodile by eating the 3.6-meter (11.8-foot) beast blamed for devouring pets and chasing children. On Wednesday, police in the town of Bulla in Australia’s Northern Territory shot the crocodile after deeming it a “significant risk to the community.”The animal was barbecued after it was shot by police. Numbers have boomed in the decades since, with the Northern Territory now home to some 100,000 crocodiles, according to the local government. In April, a 16-year-old boy was killed by a crocodile in northern Queensland while attempting to swim to shore after his boat broke down. A nine-year-old boy was lucky to survive a crocodile attack in the Northern Territory’s Kakadu National Park in January, after being hospitalized with “puncture wounds.”

Persons: “, ”, Andrew McBride, ” Sergeant McBride, Kristen Hay Organizations: CNN, Northern Territory Police, ABC Locations: Bulla, Australia’s Northern Territory, Australia, Northern Territory, Queensland, Western Australia

☆ Forget Beatlemania. Taylor Swift fever is sweeping Liverpool
▼ + stars: | 2024-06-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

On Thursday, it expects to welcome Taylor Swift fans heading to Anfield for the first of the superstar’s three “Eras Tour” concerts in Liverpool. Banners outside St George's Hall in Liverpool saying "Liverpool loves Taylor," seen in May 2024. Taylor Swift performs at the Scottish Gas Murrayfield Stadium on June 7, 2024, in Edinburgh, UK. A fan poses at an art installation representing Taylor Swift's "Lover" album era, in Liverpool in June 2024. People walk past an art installation representing Taylor Swift's album "The Tortured Poets Department" in Liverpool in June 2024.

Persons: Sandon, Taylor Swift, Ceri Smith, It’s, ”, Swift, Smith, Liverpool, Taylor, Phil Noble, Harry Doyle, Gareth Cattermole, Natalia Lechmanova, “, ” Taylor, deconstruct Taylor, Taylor Swift's, Peter Byrne, ’, Doyle, “ She’s, Frankie Goes, Kevin McManus, they’ve, ” McManus Organizations: London CNN, Anfield, Liverpool Football Club, CNN, Reuters, Amion Consulting, Liverpool City Council, Liverpool …, Liverpool ONE, Mastercard, Institute, Fans, Scottish Gas Murrayfield, “, Wembley, Liverpool, University of Liverpool, Cavern, National Museums Liverpool, Beatles, UNESCO, Music, Department Locations: Anfield, Liverpool, Sandon, George's, United Kingdom, English, United States, Edinburgh, London, Taylor

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