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☆ UK housing market challenging but rate pause offers hope -RICS
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, edged down to -69 after August's sharp drop to -68. Echoing other gauges of British house prices, RICS' latest figure was the weakest since February 2009 and was below the median forecast of -63 in a Reuters poll of economists. Britain's housing market boomed during the coronavirus pandemic as demand for homes with more space surged, but it has been a victim of the BoE's run of 14 interest rate hikes, which began in December 2021. "Although the decision to pause monetary policy tightening a few weeks ago provided a glimmer of relief for the market, interest rates are likely now set to remain on hold for a prolonged period," Parsons said. The weak state of the housing market has hurt companies such as building materials supplier Travis Perkins (TPK.L), which on Wednesday downgraded its annual profit forecast by as much as 27%.

Persons: Henry Nicholls, RICS, Tarrant Parsons, Parsons, Travis Perkins, William Schomberg, Kylie MacLellan Organizations: REUTERS, Bank, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain

☆ Fenway Farms: On the roof of an iconic sports venue, this urban farm in Boston can grow 6,000 pounds of produce a year
▼ + stars: | 2023-10-10 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +10 min

Boston, Massachusetts CNN —Though home to the Boston Red Sox, Fenway Park is known for being green. Spanning a section of what was once an empty black rubber roof, a farm is making Fenway green in a completely different way. “We can produce anywhere from 4,000 to 6,000 pounds of fresh produce a year, depending on what we’re growing,” Grallert says. A little replica of Fenway Farms also opened at the Boston Children’s Museum last year. Green City estimates roughly 500,000 children and adults encounter Fenway Farms every year.

Persons: Boston , Massachusetts CNN —, Benjamin Moore, ”, Chris Grallert, ” Grallert, Bob Crowley, Grallert, Chef Ron Abell, Abell, he’s, lettuces, Danielle Morgan, Samantha Bresnahan, ” Abell, they’ve, Abell’s, Nature’s, we’ve, ” Read, Haley Bergeron, John Cumberland, “ Organizations: CNN, Boston , Massachusetts CNN, Boston Red Sox, Fenway, Green City Growers, Red Sox, Fenway Park, Green City, Major League, Sox, Coors, Oracle, Boston, Boston Children’s Locations: Boston , Massachusetts, Green, Fenway, Boston, reinvigorating, Massachusetts, Colorado, San Diego, San Francisco

☆ 'We like to develop in Texas': Why the Lone Star State keeps building offices that remain vacant
▼ + stars: | 2023-10-10 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +4 min

Texas developers continue to build offices, even though office-vacancy rates are high. That's because Texas developers build too much. Even with those numbers, Eckert told the Journal that new office completions in Texas eclipsed every other market. Part of that cleansing is converting office buildings into something new , giving them a chance at a new lease on life. Overall, Eckert isn't worried about the office vacancies in Texas, as that is just one data point that doesn't tell the whole story.

Persons: —, Manny Garcia, Thomas LaSalvia, Jeff Eckert, JLL's, Houston —, Brandon Bell, Houston's, Eckert, JLL, Eckert isn't, it's Organizations: Service, Lone Star State, Wall Street, Moody's, Texas —, Houston Locations: Texas, California . Texas, Texas — Austin, Dallas, Austin , Texas, Springs, Dallas , Texas

☆ California caste bill veto a setback for advocates; opponents say stigma averted
▼ + stars: | 2023-10-08 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +5 min

Opponents of caste discrimination say it is no different from other forms of discrimination like racism and hence should be outlawed. In vetoing the bill, officially called Senate Bill 403 or SB 403, Newsom cited existing laws that already prohibit ancestry discrimination, which he said made the bill "unnecessary." U.S. discrimination laws ban ancestry discrimination but do not explicitly mention a ban on casteism. The caste system is among the world's oldest forms of rigid social stratification. The Dalit community is on the lowest rung of the Hindu caste system and members have been treated as "untouchables."

Persons: Carlos Barria, Gavin Newsom's, Newsom, Suhag Shukla, Thenmozhi Soundararajan, Soundararajan, Samir Kalra, Kanishka Singh, Mary Milliken, Grant McCool, Mark Porter Organizations: REUTERS, Activists, University of California, Hindu American Foundation, American Foundation, Equality Labs, Migration Policy Institute, American Civil Liberties Union, ACLU, Amnesty, MeToo International, Thomson Locations: San Francisco, California, U.S, Berkeley, United States, South, India, Orange County, Washington

☆ Advocates of California bill to ban caste discrimination find veto heartbreaking
▼ + stars: | 2023-10-08 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +4 min

In vetoing the bill, officially called Senate Bill 403 or SB 403, Newsom cited existing laws that already prohibit ancestry discrimination, which he said made the bill "unnecessary." U.S. discrimination laws ban ancestry discrimination but do not explicitly mention a ban on casteism. The Dalit community is on the lowest rung of the Hindu caste system and members have been treated as "untouchables." India outlawed caste discrimination over 70 years ago. Opponents of caste discrimination say it is no different from other forms of discrimination like racism and hence should be outlawed.

Persons: Carlos Barria, Gavin Newsom's, Angana, Newsom, Suhag Shukla, Thenmozhi Soundararajan, Soundararajan, Samir Kalra, Kanishka Singh, Mary Milliken, Grant McCool, Mark Porter Organizations: REUTERS, University of California, Hindu American Foundation, American Foundation, Equality Labs, Migration Policy Institute, American Civil Liberties Union, ACLU, Amnesty, MeToo International, Thomson Locations: San Francisco, California, U.S, United States, Berkeley, South, India, Orange County, Washington

☆ Home Sweet Times Square: How New York City can save Midtown Manhattan from the 'urban doom loop'
▼ + stars: | 2023-10-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

And New York City has had success transforming single-use office districts, most notably Lower Manhattan's financial district, into more vibrant mixed-use places. Times Square is one of those, according to Tom Harris, president of the Times Square Alliance, which represents the district's businesses. AdvertisementAdvertisement"I'm not negating it, but certainly the opportunities south of Times Square, to the west of Times Square, are a little bit better for development of the housing stock," he said. The mix of businesses around Times Square has changed in a way that could be appealing to potential residents. Times Square lost 179 businesses during the pandemic, but has since welcomed more than 180 new businesses into the neighborhood, according to the Times Square Alliance.

Persons: —, Eric Adams, Dan Garodnick, Garodnick, Lynne Sagalyn, Sagalyn, Andrew Lichtenstein, Susan Mello, Walker, Dunlop, Mello, Luiz C . Ribeiro, Tom Harris, Harris, aren't, Le Bernardin, haven't —, Gardonick Organizations: Midtown, Service, Garment, Eighth, New York City's Department of City Planning, Columbia University, Getty, Financial, Times Square Alliance, Times, Lambs, —, Taco Bell, Grand Central Madison Locations: Midtown Manhattan, Midtown, Manhattan, America, Manhattan . Old, York City, Lower Manhattan, hasn't, Retail, Long, New York

REUTERS/Carlos Barriaof Acquire Licensing RightsOct 7 (Reuters) - California Governor Gavin Newsom on Saturday vetoed a bill passed recently by the state legislature to explicitly ban caste discrimination, citing exiting laws that already prohibit ancestry discrimination, which made the bill "unnecessary." Had Newsom signed the bill, officially called Senate Bill 403 or SB 403, California would have become the first ever U.S. state to explicitly ban caste discrimination. U.S. discrimination laws ban ancestry discrimination though they do not explicitly mention a prohibition on casteism. Activists opposing caste discrimination said it is no different from other forms of discrimination like racism and hence should be outlawed. In California itself, last month, Fresno became only the second U.S. city to ban caste discrimination after a unanimous city council vote.

Persons: Carlos Barriaof, Gavin Newsom, Newsom, Aisha Wahab, Sundar Pichai, Satya Nadella, Arvind Krishna, Kanishka Singh, Grant McCool Organizations: REUTERS, Democratic, Seattle, U.S, Microsoft, IBM, Thomson Locations: Francisco's, San Francisco , California, U.S, California, South, Afghan American, North America, Canada, Fresno, Silicon Valley, India, Washington

☆ Moody's downgrades Egypt deeper into junk territory
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo Acquire Licensing RightsOct 5 (Reuters) - Moody's on Thursday downgraded Egypt's credit rating by a notch to 'Caa1' from 'B3', citing the country's worsening debt affordability. Egypt has been facing an economic crisis with record inflation and a chronic foreign currency shortage, and a borrowing spree over the last eight years has made external debt repayments increasingly onerous. "Moody's expects the materialization of asset sale proceeds at the central bank to help restore the economy's foreign currency liquidity buffer," the credit rating agency said, placing Egypt's outlook at 'stable'. Egypt has imposed import restrictions to remedy the shortage of foreign currency, while at least two national banks have suspended the use of Egyptian pound debit cards outside the country to stop a drain on foreign currency.

Persons: Amr Abdallah Dalsh, Moody's, Sri Hari, Shinjini Organizations: REUTERS, International Monetary Fund, Sri, Thomson Locations: Cairo, Egypt, Bengaluru

☆ Check out how different the massive screen on the outside of the Sphere looks up close
▼ + stars: | 2023-10-04 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

The MSG Sphere in Las Vegas lights up the skyline, but the screen looks a lot different up close. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But did you know that up close, the massive screen on the outside of the Sphere doesn't look like a screen at all? There are 1.2 million lights on Sphere, according to KXAS-TV, making it the world's largest video screen. U2 Sphere show tickets are already selling out or commanding price tags from the mid-to-high hundreds of dollars to even $1,000-plus territory.

Persons: —, It's, @CasinoCompWallet, Bono, Adam Clayton, Bram van den Berg, U2, Kevin Mazur Organizations: Service, Hollywood Locations: Las Vegas, Las Vegas , Nevada

☆ Asia-Pacific stocks fall ahead of Australian central bank rate decision
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets fell ahead of a rate decision by the Reserve Bank of Australia. In Australia, the S&P/ASX 200 was trading down 1.1% ahead of an RBA meeting, where the central bank is expected to hold rates at 4.10%, according to a Reuters poll. In Japan, the Nikkei 225 was down 0.63% in its first hour of trade. The Nasdaq Composite added 0.67% to close at 13,307.77— CNBC's Hakyung Kim and Alex Harring contributed to this report.

Persons: Hakyung Kim, Alex Harring Organizations: Skyline, Reserve Bank of Australia, Nikkei, Dow Jones, Nasdaq Locations: Sydney, Australia, Asia, Pacific, Japan, U.S

☆ Thousands gather in Warsaw for opposition rally ahead of tight election
▼ + stars: | 2023-10-01 | by ( Justyna Pawlak | ) www.reuters.com time to read: +3 min

[1/6] Overview of crowds and city skyline during the "March of a Million Hearts" (Marsz Miliona Serc) opposition rally, two weeks ahead of the parliamentary election, in Warsaw, Poland October 1, 2023. The opposition is hoping Sunday's march becomes the biggest in decades and galvanises voters to participate in the election. Some carried banners saying "PiSexit" or "The cat can stay", referring to the pet animal of PiS leader Jaroslaw Kaczynski. And we have been denied this money because someone has decided to destroy democracy in Poland," Warsaw mayor Rafal Trzaskowski told those at the rally. Reporting by Justyna Pawlak, Marek Strzelecki and Kuba Stezycki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Agencja, Slawomir Kaminski, Donald Tusk, Hanna Chaciewicz, Tusk, Jaroslaw Kaczynski, PiS, Rafal Trzaskowski, Justyna Pawlak, Marek Strzelecki, Hugh Lawson Organizations: REUTERS Acquire, Rights, European Union, Law and Justice, European, TVP, Warsaw, Thomson Locations: Warsaw, Poland, EU, Otwock, Public, Brussels

☆ An ex-mortgage underwriter who owns 129 rental units worth over $28 million lists the 3 strategies he used to maximize cash from real estate and grow his portfolio, including the property types he cho
▼ + stars: | 2023-10-01 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

If you're considering short-term rentals, Gerbig recommends doing some market research. He also advised making sure the area has rental-friendly laws that don't restrict short-term rentals. But for the short-term rentals, he pays 20-30% of his gross revenue. Plus, the short-term rentals were requiring more time and work than he wanted to give. Investors have 45 days to identify the next purchase property and six months to close to qualify for the deferral, Gerbig said.

Persons: Chris Gerbig, Gerbig, it's, Gerbig's Locations: Nashville , Tennessee, Nashville

☆ Tech workers are paying up to $700 a month for tiny bed 'pods' in San Francisco
▼ + stars: | 2023-10-01 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Startup founders are paying up to $900 a month to stay in tiny four-feet tall bed "pods." The tiny spaces only fit one twin bed, run on monthly contracts, and don't need a deposit. AdvertisementAdvertisementTech workers are paying up to $900 a month to stay in tiny bed "pods," small boxes made of wood and steel just four feet high. The bed pods are arranged in are stacked two-high in dorms, and they run on monthly contracts and don't require a security deposit. San Francisco skyline.

Persons: —, Christian Lewis, Spellcraft, James Stallworth, SFGATE, Stallworth, Alexander Spatari, Lewis, i'm Organizations: Service, ABC Locations: San Francisco, Bakersfield, Palo Alto

☆ Detroit casino workers approve strike authorization at three casinos
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

The Detroit skyline is seen from the north side of the city in Detroit, Michigan, December 3, 2013. REUTERS/Joshua Lott/File Photo(Reuters) - Workers at three Detroit casinos have voted in favor of authorizing a strike, if necessary, the United Auto Workers (UAW) union said on Saturday. The union said the Detroit Casino Council (DCC), representing workers at the MGM Grand Detroit, Hollywood at Greektown and MotorCity casinos, said workers voted 99% “yes” on Friday to authorize a strike at all three locations if a new contract agreement isn’t reached. The Detroit Casino Council is made up of 5 unions representing casino employees, including UNITE HERE Local 24, UAW, Teamsters Local 1038, Operating Engineers Local 324, and the Michigan Regional Council of Carpenters. About 18,300 UAW members working at the Detroit Three automakers - Ford, General Motors and Chrysler parent Stellantis, are already on strike.

Persons: Joshua Lott, isn’t Organizations: REUTERS, Workers, United Auto Workers, UAW, Detroit Casino Council, MGM, Detroit, Detroit Casino, Teamsters, Engineers, Michigan Regional, of Carpenters, Detroit Three, Ford, General Motors, Chrysler, GM Locations: Detroit, Detroit , Michigan, Hollywood, Greektown

The legendary rock band, which has won 22 Grammys, performed for two hours inside the massive, state-of-the-art spherical venue with crystal-clear audio. Throughout the night, there were a plethora of attractive visuals — including kaleidoscope images, a burning flag and Las Vegas’ skyline, taking the more than 18,000 attendees on U2’s epic musical journey. Bono then paid homage to the late Elvis Presley, who was a Las Vegas entertainment staple. … Can you hear us?”The U2 frontman pointed into the crowd and shouted out Dr. Dre, Snoop Dogg and Jimmy Iovine. The band closed its first Sphere concert with “Beautiful Day," which one three Grammys in 2001.

Persons: Bono, kneeled, ”, Adam Clayton, Bram van den Berg, Elvis Presley, Elvis, “, It’s, Oprah, LeBron James, Matt Damon, Andre Agassi, Ava DuVernay, Josh Duhamel, Jason Bateman, Jon Hamm, Bryan Cranston, Aaron Paul, Oscar de la Hoya, Henrik Lundqvist, Flav, Diplo, Dakota Fanning, Orlando Bloom, Mario Lopez, ” Bono, Paul McCartney, Macca, James Dolan’s, Dolan, Jim Dolan, Shea, Dre, Snoop Dogg, Jimmy Iovine, Jimmy Buffett’s, Larry Mullen Jr, Bram van den, Mullen, Berg, ” Berg Organizations: LAS VEGAS, Garden, New York Knicks, Rangers Locations: Las, Vegas, Las Vegas, Elvis, ”, Madison, Berg

LAS VEGAS (AP) — It started as a crude sketch — a circle with a stick person inside. He and MSG Ventures CEO David Dibble were trying to create a plan to give the entertainment venue industry a facelift in Las Vegas. “That’s cool,” said Glenn NP Nowak, an architecture professor at the nearby University of Nevada, Las Vegas. However, the Sphere is the most expensive entertainment venue built in Las Vegas, eclipsing the approximately $1.9 billion, 65,000-seat Allegiant Stadium sports facility that opened in 2020. The government here was welcoming and encouraging.”The project started as a partnership with casino company Las Vegas Sands, the then-owner of the Venetian and Palazzo resort towers on the Las Vegas Strip.

Persons: James Dolan, David Dibble, Dolan, ”, don’t, Dibble, Darren Aronofsky, Glenn NP Nowak, Nowak, Harry Reid, ” Dolan, it's, “, I'm Organizations: LAS VEGAS, Garden, New York Knicks, Rangers, MSG Ventures, University of Nevada, Walt Disney, Montreal Biosphere, Avicii Arena, Caesars Entertainment, Harry Reid International Airport, Sands, Las Locations: Vegas, Madison, Las Vegas, Florida, Montreal, Canada, Sweden, London, New York

(Reuters) - EquiLend Holdings LLC, the securities lending platform owned by 10 of the biggest Wall Street firms, including Goldman Sachs Group Inc and BlackRock Inc, is exploring a sale following settlement of a major collusion lawsuit, people familiar with the matter said. Euronext NV is one of the parties interested in EquiLend, one of the sources added. EquiLend generates 12-month earnings before interest, taxes, depreciation and amortization of more than $25 million, two of the sources said. One of the sources added that EquiLend may fetch about $700 million in a sale. Goldman Sachs, JPMorgan, Morgan Stanley and UBS agreed to pay $499 million last month to settle the lawsuit that accused them of conspiring to stifle competition in the stock lending market using EquiLend.

Persons: Amr Alfiky, Broadhaven, Morgan Stanley, EquiLend, Goldman Sachs Organizations: Reuters, EquiLend Holdings, Goldman Sachs Group Inc, BlackRock Inc, Trade Center, REUTERS, Broadhaven Capital Partners, Wall Street, Bank of America Corp, UBS Group AG, JPMorgan Chase &, JPMorgan, UBS Locations: Manhattan, New York City, U.S, EquiLend

☆ German GDP expected to contract by 0.6% this year, economic institutes say
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Business sentiment has recently deteriorated again and overall, the indicators suggest that production fell noticeably in the third quarter of 2023, the economic institutes said. GDP is expected to shrink by 0.4% in the third quarter, following stagnation in the second quarter. For 2024, the institutes - four German and one Austrian - forecast GDP growth of 1.3%, down from 1.5% previously. In the following years, a decreasing potential growth rate due to the shrinking labour force will become more and more apparent, the economic institutes said. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halley Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

Persons: Kai Pfaffenbach, Oliver Holtemoeller, Maria Martinez, Friederike Heine Our Organizations: REUTERS, Rights, Reuters, Halle Institute for Economic Research, Ifo Institute, Halley Institute for Economic Research, Kiel Institute, Institute for Economic Research, Austrian Institute of Economic Research, Thomson Locations: Frankfurt, Germany

☆ United Airlines to give conditional job offers to active-duty military pilots
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

The One World trace Center and the New York skyline are seen while United Airlines planes use the tarmac at Newark Liberty International Airport in Newark, New Jersey, U.S., May 12, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSept 28 (Reuters) - United Airlines (UAL.O) said on Thursday it will give conditional job offers to active-duty U.S. military pilots to join the airline as a first officer once they complete service. United Airlines has more than 16,000 pilots at present, including over 3,000 who have served or currently serve in the United States Armed Forces. Military pilots applying to join the carrier would not need an airline transport pilot certificate at the time of application, but can obtain it before joining. United hired more than 4,000 new pilots in the past 24 months and expects to add over 10,000 this decade, according to the company.

Persons: Eduardo Munoz, Shivansh, Shounak Dasgupta 私 Organizations: United Airlines, Newark Liberty International Airport, REUTERS, United States Armed Forces, Military, United Locations: York, Newark , New Jersey, U.S, Bengaluru

☆ Detroit casino workers to vote on authorizing strikes this Friday
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

The Detroit skyline is seen from the north side of the city in Detroit, Michigan, December 3, 2013. REUTERS/Joshua Lott/File Photo Acquire Licensing RightsSept 28 (Reuters) - Workers who staff the majority of operations at the three casinos in Detroit will vote on Friday to authorize potential strikes, the United Auto Workers (UAW) union said. The union, in a release on Thursday, said workers staffing operations such as slots and table games, as well as restaurants at MGM Grand Detroit, MotorCity Casino and Hollywood at Greektown, will cast ballots on whether to authorize strikes as they negotiate for a new contract. Should casino workers authorize a strike in Friday's vote, the Detroit Casino Council, the negotiating committee for workers, could call for strikes as soon as mid-October when contracts expire, according to the union. Reporting by Shivansh Tiwary in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joshua Lott, Shivansh, Shounak Dasgupta Organizations: REUTERS, Workers, United Auto Workers, UAW, MGM Grand Detroit, Hollywood, Detroit Three, General Motors, Chrysler, Detroit Casino Council, Thomson Locations: Detroit, Detroit , Michigan, Greektown, Bengaluru

☆ UK households shoulder 3,500 pound tax hit - IFS
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Rows of houses lie in front of the City of London skyline in London, Britain, March 19, 2023. "This is not, for the most part, a direct consequence of the pandemic," Ben Zaranko, a senior IFS research economist, said. "Rather, it reflects decisions to increase government spending, in part driven by demographic change, pressures on the health service, and some unwinding of austerity." The current parliament was likely to represent "a decisive and permanent shift to a higher-tax economy," he said. ($1 = 0.8197 pounds)Writing by William Schomberg, editing by Andy BruceOur Standards: The Thomson Reuters Trust Principles.

Persons: Henry Nicholls, Boris Johnson, Ben Zaranko, Rishi Sunak, Jeremy Hunt, Hunt, William Schomberg, Andy Bruce Organizations: REUTERS, Conservative Party, for Fiscal Studies, Conservatives, Labour Party, Thomson Locations: London, Britain

☆ Once dubbed a 'zombie' index, this Asian stock market is trying European-style trading to reinvent itself
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.

Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe

☆ Nike Air Jordans are losing resale value. Is sneaker culture moving on?
▼ + stars: | 2023-09-27 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

The famous Nike swoosh and Air Jordan logo is seen on an Air Jordan 1, called "Notorious" released from 1984-1985, during a preview for "The Rise of the Sneaker Culture" exhibit at the Brooklyn Museum in the Brooklyn borough of New York, July 8, 2015. Some investors are concerned the Jordan brand, a major source of sales for Nike, may be "losing steam," Bernstein analysts said on Sunday. The company does not report what percent of its total revenues come from the Jordan brand. Sales of performance shoes from Nike's Jordan brand have also outpaced retro styles, which include Air Jordan 1 high-tops, Donahoe said in June. Donahoe told investors in June that the company had "reset" its running business, highlighting updates to existing styles including its Infinity road running shoes and Pegasus trail running shoes.

Persons: Brendan McDermid, Altan, Jordan, Bernstein, John Donahoe, Salomon, Donahoe, Altan's, Dylan Dittrich, Jessica Ramirez, Jane Hali, Katherine Masters, Deborah Sophia, Josie Kao, Shweta Agarwal Organizations: Nike, Air, Brooklyn Museum, REUTERS, Altan Insights, Nike's Air, Air Jordan, Reuters Graphics, Barclays, Associates, Thomson Locations: Air Jordan, Brooklyn, New York, North America, Jordan, American, U.S, Bengaluru

☆ Pressure piles on Evergrande with chairman under police watch, liquidation risk
▼ + stars: | 2023-09-27 | by ( ) www.cnbc.com time to read: +1 min

Shanghai's city skyline as seen from observation deck at Shanghai Tower in China. The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported on Wednesday, raising more doubts about the embattled developer's future as it also grapples with mounting prospects of liquidation. Citing people with knowledge of the matter, the report said Hui Ka Yan, who founded Evergrande in 1996 in southern Guangzhou city, was taken away by police earlier this month and is being monitored at a designated location. Evergrande, the police department in Guangdong province, whose capital is Guangzhou, and the public security ministry did not immediately respond to a Reuters request for comment. Evergrande is the world's most indebted property developer and has been at the center of an unprecedented liquidity crisis in China's property sector, which accounts for roughly a quarter of the world's second-largest economy.

Persons: Hui Ka Yan, Hui, Evergrande Organizations: China Evergrande, Bloomberg, Evergrande, Bloomberg News Locations: Shanghai, China, Guangzhou, Guangdong province, China's

☆ Cough syrup deaths overseas prompt US crackdown on toxic testing
▼ + stars: | 2023-09-26 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

Defendants and lawyers attend a court hearing in the case of child deaths linked to contaminated cough syrups, in Tashkent, Uzbekistan August 16, 2023. Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. IMPORT ALERTSThe FDA warning letters give manufacturers an opportunity to fix quality control problems or face penalties. In addition, 13 U.S. makers of consumer products like earwax removers, nasal spray, hand soap and shampoo, including Lex, were threatened with possible seizures and injunctions by the FDA.

Persons: Stringer, Paul Hastings, Peter Lindsay, syrups, Lex, Charlene Paz, Greg Landry, Patrick Wingrove, Rishika, Joyce Lee, Michele Gershberg, Bill Berkrot Organizations: REUTERS, U.S, FDA, Drug Administration, EG, Reuters, South, South Korea's LCC, LCC, Daxal Therapeutics, Herbals, South Korea’s KM Pharmaceutical, Sangleaf Pharma, Massachusetts College of Pharmacy & Health Sciences, Thomson Locations: Tashkent, Uzbekistan, U.S, India, South Korea, Switzerland, Canada, Egypt, Washington ,, Indonesia, United States, Florida, South Korea's, South, New York, Rishika Sadam, Hyderabad, Seoul

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