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April 26 (Reuters) - Mattel Inc (MAT.O) reported a bigger-than-expected loss for the first quarter on Wednesday as the toymaker grappled with higher costs and retailers cutting back on orders. "Retailers are working through this inventory and expect that to be corrected by the end of the first half." Price increases have also discouraged consumers from spending more on its products, leading to a 21% drop in net sales for Mattel to $815 million after adjusting for currency fluctuations. Worldwide gross billings for Barbie, which represents amounts invoiced to customers, fell 41%, while Hot Wheels' billings rose only 1%. The company, however, stuck to its full-year net sales and adjusted profit forecasts and said it expects inflation to moderate in 2023.

☆ Gen Zers are taking over college cities — after they graduate
▼ + stars: | 2023-04-26 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

Gen Z is moving in droves to college towns after they get their degree. Alex Akmal and her partner, Alex, along Memorial Union Terrace on Lake Mendota. Gen Z bonds have been cemented even more because many young people are delaying marriage and having children, the center found. After her studies, she said she might move to Washington, D.C., an even larger Gen Z hangout with those offerings and more. For whatever reason they are coming to these cities, these Gen Zers are here to stay.

Unlike the chubby, fluffy image of her younger self, 22-year-old Ya Ya has appeared skinny in recent photos, with her black and white coat missing clumps of fur. But Le Le died suddenly of heart disease in early February, further fueling suspicions of mistreatment. Throughout the past weeks, Ya Ya regularly appeared as a top trending topic on Weibo, each time attracting hundreds of millions of views. Allegations of mistreatmentWhen Ya Ya and Le Le arrived at Memphis in 2003, it was a huge deal for the city. A petition by Panda Voices to bring Ya Ya and Le Le back to China on change.org has garnered 193,000 signatures.

Volvo, a rival of manufacturers such as Daimler Trucks (DTGGe.DE) and Traton (8TRA.DE), forecast 2023 heavy truck sales in Europe and North America of 320,000 for each region. Handelsbanken analyst Hampus Engellau said the raised truck outlook sent a strong message that Volvo sees the second-half of 2023 as a good market for its trucks. Gothenburg-based Volvo, which also makes construction equipment and engines, said there was pent-up demand to replace aging fleets which had helped boost order intake. Shares in Volvo, one of Sweden's biggest employers, rose 1.2% in morning trade in a flat broader market (.OMXSPI). Volvo is not the only automaker to have had a good quarter.

Beijing's retaliatory strategy against U.S. chip sanctions is a bigger worry. Taiwan Semiconductor Manufacturing has so far remained relatively unscathed since Washington stepped up sanctions to hobble China’s domestic semiconductor development. Second, even if Chinese companies account for just 11% of TSMC’s top line, its other customers are far more exposed to the People's Republic. How Beijing responds to American pressure will define the scope of TSMC’s recovery. In January, TSMC said its capital spending in 2023 would be between $32 billion and $36 billion, compared to $36.3 billion in 2022.

HONG KONG, April 17 (Reuters Breakingviews) - Hong Kong could use a shot of something. Yet compared to the $313 billion Shanghai-listed behemoth Kweichow Moutai (600519.SS), debutante ZJLD is a drop in the near-$100 billion baijiu industry: it logs less than 1% market share. At the top of the marketed price range, ZJLD could be worth $5.4 billion, or almost 24 times this year's forecast earnings, IFR reports. Revenue at the company, which will be the first baijiu distiller to list in Hong Kong, was up a healthy 15% last year, while its adjusted net profit margin topped 20%. For Hong Kong, consumer stocks will put the focus back onto classic risks.

KARUIZAWA, Japan, April 16 (Reuters) - Foreign ministers from the Group of Seven nations will likely discuss their "common and concerted" approach to China when they meet from Sunday, reflecting shared concern about Beijing's actions, a senior U.S. State Department official said. China is front and centre as ministers from the G7 group of rich countries meet for three days in the Japanese resort town of Karuizawa. Beijing views Taiwan as Chinese territory and has not renounced the use of force to take the democratically governed island. There would likely be a discussion on how the members could continue to take a "common and concerted approach," to China, the official said. "To put China on the agenda is not just important for Japan, but also the United States," he said.

☆ Imran Khan Fights the Army for Control of Nuclear-Armed Pakistan
▼ + stars: | 2023-04-14 | by ( Sadanand Dhume | ) www.wsj.com time to read: +1 min

Sadanand Dhume writes a biweekly column on India and South Asia for WSJ.com. Mr. Dhume is also a resident fellow at the American Enterprise Institute in Washington, D.C. Mr. Dhume is the author of “My Friend the Fanatic: Travels with a Radical Islamist,” (Skyhorse Publishing, 2009), which charts the rise of the radical Islamist movement in Indonesia. Mr. Dhume holds a bachelor’s degree in sociology from the University of Delhi, a master’s degree in international relations from Princeton University and a master’s degree in journalism from Columbia University. He lives in Washington, D.C. with his wife, and travels frequently to India.

☆ World leaders are lining up to meet Xi Jinping. Should the US be worried?
▼ + stars: | 2023-04-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —Xi Jinping has had a busy couple of weeks. “(Chinese leaders) believe it’s time now for China to make its strategic plans,” said Li Mingjiang, an associate professor of international relations at Singapore’s Nanyang Technological University. Beijing has watched uneasily as the war in Ukraine has driven the US and its European allies closer. When French President Emmanuel Macron arrived in Beijing last week, Xi drew comparisons between China and France: both “major countries with a tradition of independence,” Xi said, and “firm advocates for a multi-polar world” – or a world without a dominant superpower. But how Beijing navigates these initiatives, observers say, comes down to a bottom line that’s integrally related to Xi’s global ambitions and world view.

☆ Brazil is rebuilding ties with China, former Brazilian diplomat says
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrazil is rebuilding ties with China, former Brazilian diplomat saysMarcos Caramuru, member of the international advisory board of the Brazilian Center for International Relations, who was ambassador of Brazil to China from 2016 to 2018, says Brazil's government is "building confidence" with China, which is the "big difference" from former Brazilian President Jair Bolsonaro's approach.

With that out of the way, Zhang is cleared to focus on Alibaba's massive corporate overhaul unveiled last month. Current shareholders will be left with a holding company led by Zhang, plus Alibaba's cash-cow Chinese commerce business. After all, Alibaba's U.S. shares are down over 60% in the past two years, while the S&P 500 has stayed largely flat. The sales will eventually reduce SoftBank's stake in Alibaba to 3.8%. In 2022, SoftBank booked a gain of $34 billion by cutting its stake in Alibaba to 14.6% from 23.7%.

Thomson ReutersRobyn Mak joined Reuters Breakingviews in 2013. Previously, she was a Research Associate for the Global Policy Programs at the Asia Society in New York where she focused on US-Iran relations, US-Myanmar relations and sustainability issues in Asia. She has also worked as a researcher at the Carnegie Endowment for International Peace in Washington DC and interned at several consulting firms, including the Albright Stonebridge Group. She holds a masters degree in international economics and international relations from the Johns Hopkins School of Advanced International Studies and is a magna cum laude graduate of New York University.

The short-lived fight nonetheless underscores the lengths at which scrappy restaurant operators will go to chase consumer dollars. For restaurants that have been open longer than 13 months, Chipotle’s sales grew faster than Sweetgreen’s in the fourth quarter. Sweetgreen billed itself as a tech innovator when it first went public and acquired robotic-kitchen company Spyce back in 2021. Follow on @sharonlam_ TwitterCONTEXT NEWSChipotle Mexican Grill sued rival U.S. take-out chain Sweetgreen for violating its trademarks rights in a similarly branded burrito bowl on April 4, leading to a prompt settlement. Chipotle had argued that Sweetgreen’s “Chipotle Chicken Burrito Bowl” violated its trademark rights.

The short-lived fight nonetheless underscores the lengths at which scrappy restaurant operators will go to chase consumer dollars. For restaurants that have been open longer than 13 months, Chipotle’s sales grew faster than Sweetgreen’s in the fourth quarter. That could explain why Chipotle’s valuation, at nearly 5 times forward sales, is more than double that of Sweetgreen’s. Follow on @sharonlam_ TwitterCONTEXT NEWSChipotle Mexican Grill sued rival U.S. take-out chain Sweetgreen for violating its trademarks rights in a similarly branded burrito bowl on April 4, leading to a prompt settlement. Chipotle had argued that Sweetgreen’s “Chipotle Chicken Burrito Bowl” violated its trademark rights.

HONG KONG, April 6 (Reuters Breakingviews) - Alibaba's (9988.HK) worth may be hiding in plain sight. The $260 billion Chinese group wants to split off faster-growing, money-losing bets like its cloud and logistics units. It accounted for 9% of Alibaba's top line in the nine months to December, nearly double five years ago. Zhang would do well to focus investor attention back onto Alibaba's commerce operations in China. That’s some 30% more than the company’s entire market value as of Wednesday.

☆ 'A bad joke': Russia takes the reins of the UN Security Council, to Ukrainian outcry
▼ + stars: | 2023-04-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Russian Ambassador to the U.N. Vasily Nebenzya speaks during an emergency meeting of the United Nations Security Council, amid Russia's invasion of Ukraine, at the United Nations Headquarters in New York City, New York, U.S., May 13, 2022. "I don't think Russia will be able to change the balance inside the Security Council during its presidency. The country that systematically violated all fundamental rules of international security is presiding over a body whose only mission is to protect international security," Kuleba told a Chatham House event via video link from Kyiv. Russia assumed the presidency of the United Nations Security Council over the weekend, even as its own invasion of Ukraine continues to escalate . The five permanent members have veto power, meaning all five must affirm any resolution for a vote to pass.

☆ Kyiv says Russian UN Security Council presidency is a 'symbolic blow'
▼ + stars: | 2023-04-01 | by ( ) www.cnbc.com time to read: +1 min

Russian President Vladimir Putin chairs a meeting with the government via a video link at the Novo-Ogaryovo state residence outside Moscow on March 29, 2023. A top Ukrainian official on Saturday criticized the 'symbolic blow' of Russia assuming the rotating presidency of the United Nations Security Council. It is another symbolic blow to the rules-based system of international relations," Andriy Yermak, the Ukrainian president's chief of staff, wrote in English on Twitter. On Saturday Russia took over the presidency of the UN's top security body, which rotates every month. "It is very telling that on the holiday of one terror state — Iran — another terror state — Russia — begins to preside over the UN Security Council," Yermak wrote, referring to Iran's Islamic Republic Day holiday.

Operating profit in the Swedish group's fiscal first quarter was 725 million Swedish crowns ($69.73 million) against a profit of 458 million crowns a year earlier. H&M's operating profit margin was 1.3%, up from 0.9% a year earlier. Helmersson said the company expects a gross margin recovery over the year and is making progress towards its goal of a 10% operating margin next year. Analysts at Credit Suisse said it would be "very challenging" for H&M to return to a 10% margin in 2024. H&M said net sales for March were expected to increase by 4% in local currencies compared with the corresponding period last year.

That should unlock value for weary shareholders, and please regulators and politicians keen to control strategic businesses. The restructuring will give each of Alibaba’s six businesses, which include its core commerce division, as well as cloud computing, games and logistics units, their own chief executive and board of directors. Investors promptly added nearly $23 billion, or 10%, to the New York-listed company’s market value, now at $250 billion, following Tuesday’s announcement. The $460 billion video-game giant also operates in sensitive areas like online media, cloud computing and mobile payments. Daniel Zhang will continue to serve as chairman and chief executive of Alibaba, which will follow a holding company management model, and concurrently serve as CEO of Cloud Intelligence.

☆ Ukraine says Russian forces make progress in frontline city of Bakhmut
▼ + stars: | 2023-03-29 | by ( Pavel Polityuk | ) www.reuters.com time to read: +5 min

"Enemy forces had a degree of success in their actions aimed at storming the city of Bakhmut," the General Staff of the Ukrainian Armed Forces said in its regular nighttime report. Russian officials say their forces are still capturing ground in street-by-street fighting inside Bakhmut. [1/5] A tank is towed through a road, amid Russia's invasion of Ukraine, near the bombed-out eastern Ukrainian city of Bakhmut, in the eastern Donetsk region, Ukraine, March 29, 2023. Russian forces shelled towns in central Zaporizhzhia region, including the contested centre of Hulyaipole, the Ukrainian general staff statement said. Rocket and artillery in the past 24 hours struck two areas of concentration of Russian forces, an ammunition depot and two fuel depots, it said.

The EU has progressively tightened limits since "Euro 1" in 1992. The Commission's proposal widens real-driving emissions (RDE) testing and adds continuous testing of emissions via an on-board monitoring system. Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses. The European Commission estimates Euro 7 could add up to 150 euros to car prices and 2,600 euros for trucks and buses. A Commission spokesperson declined to comment on executives' statements, but said Euro 7's real-driving emissions tests were important because of "scandals in the past about cheating devices".

HONG KONG, March 28 (Reuters Breakingviews) - In the biblical parable of the prodigal son, a repentant wastrel returns home to a forgiving and beneficent father. In China, Alibaba (9988.HK) founder Jack Ma's homecoming and rehabilitation appears to be part of an official campaign to revive flagging private sector investment. However, if officials believe the mere sight of Ma in public will revive business confidence, that hope has a whiff of desperation. Ma the prodigal entrepreneur has returned, but perhaps not for long. Shares of Alibaba rallied as much as 4% in Hong Kong following the SCMP report before closing flat at HK$85.25 on March 27.

☆ Russian forces making no headway in Bakhmut, Avdiivka, Ukraine says
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +5 min

[1/6] A damaged building is seen, amid Russia's attack on Ukraine, in Avdiivka, Donetsk region, Ukraine, March 28, 2023, in this still image obtained from a social media video. But the military said Ukrainian fighters continued to successfully repel Russian forces and claimed that Russia was suffering high combat deaths in the offensive. Britain's defence ministry said Russian forces had made only "marginal progress" in an attempt to encircle Avdiivka in recent days and had lost many armoured vehicles and tanks. Denis Pushilin, the Russian-installed leader of the part of Donetsk region under Moscow's control, said most Ukrainian forces had pulled back from a metals factory in western Bakhmut. "In principle, we cannot speak of them (Russian forces) having achieved any strategic advances in the last few hours or even days," Ukrainian spokesman Cherevatiy said.

HONG KONG, March 23 (Reuters Breakingviews) - Tencent (0700.HK) is sounding more like its normal self again. The combination of regulatory respite, a post-lockdown consumption bounce plus cost cuts have put the company in a sweet spot for 2023. Revenue in the three months to December inched up 0.5% from a year earlier, to $21 billion, reversing year-on-year declines from the previous two quarters. With 2022 firmly behind it, Tencent can put a spring back in its step. Shares of Tencent rose 4.7% to HK$364.00 during early morning trading on March 23.

☆ Baidu's Ernie writes poems but says it has insufficient information on Xi, tests show
▼ + stars: | 2023-03-20 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangBEIJING, March 20 (Reuters) - Baidu's (9888.HK) Ernie bot can within seconds generate pictures of flowers and write Tang dynasty-style poems but will decline questions about Chinese President Xi Jinping by saying it has not yet learnt how to answer them, Reuters tests showed. Some analysts and users soon began posting positive reviews of their experiences with Ernie bot, and side-by-side comparisons with ChatGPT, that drove Baidu's share price higher. Tests by Reuters of ChatGPT indicated that the Microsoft-backed chatbot is not averse to answering such questions. "Let's change the subject and start again," read a prompt Reuters received over a dozen times in response to sensitive questions. The Ernie bot would also produce the same restart prompts when asked similar questions about U.S. President Joe Biden and his predecessor, Donald Trump.

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