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☆ New Zealand says it is aware of China-linked intelligence activity in country
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

JADE GAO/Pool via REUTERS/File PhotoWELLINGTON, Aug 11 (Reuters) - New Zealand is aware of intelligence activity linked to China in and against the island nation and the Pacific region, it said in a report released on Friday. "This is a complex intelligence concern for New Zealand," the New Zealand Security Intelligence Service (NZSIS) said in the annual report. The report also highlighted "foreign interference" activity from Iran and Russia. The report added that, more broadly, the international security environment in which New Zealand operates is now more challenging and less predictable than in recent decades. The intelligence report also noted that technological innovation, global economic instability and declining social trust also posed threats.

Persons: Chris Hipkins, Premier Li Qiang, JADE, Alexei Navalny, Andrew Hampton, NZSIS, Lucy Craymer, Richard Chang, Muralikumar Organizations: Zealand, Premier, of, People, JADE GAO, New Zealand, New Zealand Security Intelligence Service, New, Russian Embassy, Thomson Locations: Beijing, New Zealand, China, New, Wellington, Australia, Britain, Canada, United States, Iran, Russia, Iranian, Russian

☆ Cat-sitting to save on travel costs? I looked after 5 and got a free place in Spain for two weeks
▼ + stars: | 2023-08-10 | by ( Lucy Handley | ) www.cnbc.com time to read: +4 min

In lieu of payment, I could stay in her ensuite guest room, and even use her car too. Daniella asked. After dropping Daniella off at the airport early the next morning, my adventure as a first-time cat sitter began. I'd top up the dry food that they grazed on during the day and make sure they had fresh water. Phiro, a pale ginger tabby, one of the cats the author took care of.

Persons: Spain, I'd, Daniella, Yoda, Markus Lange, I'm, —, Orion, Holger Leue, Jabbo, Lucy Handley Organizations: Getty, Mallorca —, Bank Locations: Mallorca, Binissalem, Switzerland, Arizona, Vietnam, Bali, Las Vegas, Es, de Muro, Port d'Alcudia, Binssalem's, Muro, Pollenca

☆ In New Zealand, defence and security become election issues amid China’s Pacific push
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +5 min

“Foreign policy, defence, our relationship with the Pacific - all of that will be far more relevant and the public will be more conscious of it compared to other elections, where it's been pretty much non-existent,” said Josie Pagani, a political commentator and host of the pre-election foreign policy debate. Sixty-three percent of voters say inflation and the cost of living are a most important issues of the election, a poll by the Ipsos New Zealand Issues Monitor released in June said. A second survey released last week by the country’s national intelligence and security board found increasing levels of concern about defence, security and foreign policy. Foreign policy doesn't usually play in New Zealand elections, said Jason Young, an associate professor of international relations and politics at Victoria University. The opposition National party, which polls indicate will win control of the government, hasn’t released its defence policy and said it needs more detail about AUKUS.

Persons: it's, ”, Josie Pagani, Andrew Little, “, Chris Seed, Jason Young, Helen Clark, Nanaia Mahuta, hasn’t, Gerry Brownlee, Lucy Craymer, Gerry Doyle Organizations: WELLINGTON, ”, Foreign Affairs, Trade, Victoria University, Washington, Labour, National, Thomson Locations: New Zealand, China, Solomon, Ukraine, Pacific, Zealand, United States, Australia, Britain, “, AUKUS, Zealanders

☆ New Zealand govt pledges gender pay gap reporting
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

REUTERS/David Gray/File PhotoWELLINGTON, Aug 11 (Reuters) - New Zealand's Labour government, trailing in opinion polls ahead of an October election, said on Friday it plans to require large firms to publish gender pay gap data in an effort to get equal pay for the country’s women. With only two months to the Oct. 14 polls the government will need to be re-election or gain bipartisan support after the polls for the gender pay gap policy to be legislated. It said it plans initially to require 900 public sector companies, which employ more than 250 employees each, to report their gender pay gap. “Countries we compare ourselves to including Australia, Canada, and the United Kingdom have already successfully introduced gender pay gap reporting. As of June 30, the gender pay gap in the public service was 7.7%, according to data from the Public Service Commission.

Persons: David Gray, ”, Women Jan Tinetti, Lucy Craymer, Michael Perry Organizations: REUTERS, Zealand's Labour, Women, Public Service Commission, Labour Party, Curia Market Research, National, ACT, Thomson Locations: Wellington, New Zealand, Australia, Canada, United Kingdom

☆ Italian windfall tax sends euro zone bank stocks tumbling
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON, Aug 8 (Reuters) - An index of euro zone banks (.SX7E) fell as much as 3.4% on Tuesday, after Italy approved a 40% windfall tax on banks for 2023. The index is on track for its biggest daily drop since the turmoil in the banking sector in March. BPER Banca (EMII.MI) fell to the bottom of the STOXX 600 and was last down 8.8% while Intesa Sanpaolo (ISP.MI) was last down 8%. The pan-European STOXX 600 (.STOXX) was last down 0.3%, while a broader index of European banks fell 2%.

Persons: Dado Ruvic, Intesa, Lucy Raitano, Alun John Organizations: REUTERS, BPER Banca, Thomson Locations: Italy, EMII.MI

☆ 'Once-in-a-lifetime' opportunity: Morgan Stanley's stocks to trade Europe's renewable energy boom
▼ + stars: | 2023-08-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named several stocks to play Europe's investment in renewable energy — and highlighted a "once-in-a lifetime" opportunity in the electricity sector in particular. Earlier this year, the European Union raised its renewable energy targets in the face of the energy crisis that followed Russia's invasion of Ukraine. The bank estimated the transition to green power sources will cost around 5 trillion euros ($5.5 trillion) between now and 2030. Growth opportunity "The EU and UK renewables targets imply significant growth investment opportunities for renewable developers," the bank said. Though Morgan Stanley is positive on the opportunities for renewable energy companies, it said the EU's targets would be "hard to achieve."

Persons: Morgan Stanley, Morgan, Jens Eisenschmidt, Orsted, Centrica, Michael Bloom, Sam Meredith Organizations: European Union, Grid, EU, Siemens Energy, British Gas Locations: Ukraine

☆ Reserve Bank of New Zealand: stress test shows life insurers can withstand shocks
▼ + stars: | 2023-08-07 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington, March 22, 2016. REUTERS/Rebecca Howard/File PhotoWELLINGTON, Aug 8 (Reuters) - Reserve Bank of New Zealand said on Tuesday that its first life insurance industry stress test showed large insurers are well placed to withstand severe economic and insurance shocks, while continuing to pay out on policy claims. He added that stress tests play an important role in helping build understanding of how particular risks may impact financial stability as well as building capability across industry to manage these risks. The RBNZ will now undertake stress tests on the life insurance industry annually. Reporting by Lucy Craymer Editing by Chris Reese and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Howard, ”, Christian Hawkesby, Lucy Craymer, Chris Reese, David Gregorio Our Organizations: Reserve Bank of New, REUTERS, Thomson Locations: Reserve Bank of New Zealand, New Zealand, Wellington

☆ JPMorgan says this sector is in 'pole position' — and names 5 global stocks set to outperform
▼ + stars: | 2023-08-07 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Analysts at JPMorgan named five global stocks in a sector they described as being in "pole position," following the Federal Reserve 's latest rate hike. We address which sectors typically lead in the aftermath of the last Fed hike, Staples and Healthcare are in pole position," the analysts led by Mislav Matejka stated in a July 31 note to investors. The bank gave French food manufacturer Danone an estimated 6% earnings per share (EPS) growth for 2024, and Swiss competitor Nestle 8% for the same period. Dutch retailer Ahold Delhaize is also a staples sector pick, with 7% estimated EPS growth for 2024. Budweiser brewer Anheuser-Busch InBev was named by JPMorgan too, with the bank estimating EPS growth of 18% for next year.

Persons: Mislav Matejka, CNBC's Michael Bloom, Jeff Cox Organizations: JPMorgan, Federal, Fed, Staples, Healthcare, Danone, Nestle, Tesco, Budweiser, Anheuser, Busch InBev Locations: Swiss

The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. "A substantial lessening of competition in home loans would have major flow-on impacts to Australians with a mortgage," he added. The companies said they would seek a review of the determination at the Australian Competition Tribunal, an offshoot of the federal court which oversees takeover rulings. Taking the deal to the competition tribunal would delay its completion to mid-2024, if the tribunal approved it, from the late 2023 timeline the companies gave when they announced it a year ago. The ANZ-Suncorp deal also needs sign-off from Treasurer Jim Chalmers who declined to comment.

Persons: Lucy Craymer, Mick Keogh, Gina Cass, Gottlieb, Jim Chalmers, Byron Kaye, Himanshi, Stephen Coates Organizations: ANZ Bank, REUTERS, ANZ, Suncorp, ANZ Group, Australian Competition, Consumer Commission, Australian Competition Tribunal, Citi, Telstra, TPG Telcom, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Sydney, Bengaluru

☆ Australian competition regulator rejects $3.2 bln ANZ-Suncorp Bank deal
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucy CraymerAug 4 (Reuters) - Australia's competition regulator said on Friday it had denied authorisation for ANZ Group Holdings (ANZ.AX) to proceed with its proposed A$4.9 billion ($3.21 billion) acquisition of Suncorp Group's banking arm. The Australian Competition and Consumer Commission (ACCC) said it was not satisfied that the acquisition would not lessen competition in the supply of home loans to Australian customers. "Evidence we obtained strongly indicates that the major banks consider the second-tier banks to be a competitive threat," ACCC Deputy Chair Mick Keogh said in a statement. Keogh said the proposed acquisition would further "entrench an oligopoly" structure, with the country's four major banks dominating. "We believe the acquisition will improve competition, which will benefit Australian consumers, particularly in Queensland," ANZ said in a statement, noting that the ACCC's decision can be reviewed by the independent Australian Competition Tribunal.

Persons: Lucy Craymer, Mick Keogh, Keogh, Himanshi, Shri Navaratnam, Subhranshu Organizations: ANZ Bank, REUTERS, ANZ Group Holdings, Suncorp, Australian Competition, Consumer Commission, ANZ, Australian Competition Tribunal, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Queensland, Bengaluru

☆ Opinion | From Taylor Swift to Beyoncé, Concerts Are Turning Into Something New
▼ + stars: | 2023-08-04 | by ( Elamin Abdelmahmoud | ) www.nytimes.com time to read: +3 min

Ms. Swift’s tour alone is on pace to earn over a billion dollars, while Harry Styles’ Love On Tour ended a couple of weeks ago as the fourth-highest-grossing tour of all time. Elton John wrapped a tour earlier this summer that stands as the highest-grossing of all time — at least for now. While the average ticket price for the Bruce Springsteen tour is an already hefty $250, thanks to so-called dynamic pricing, tickets have been on sale for as much as $5,000. Beyoncé’s tour this summer boasts a giant metallic tank and robot arms, and Ms. Swift’s set is like a traveling Vegas production. For everyone else, there’s social media — and there’s been plenty this summer for online audiences to enjoy.

Persons: Drake, Bruce Springsteen, Ed Sheeran, Luke Combs, Tracy Chapman’s, Morgan Wallen, Julien Baker, Lucy Dacus, Phoebe Bridgers, Swift’s, Harry Styles ’, Elton John, there’s, concertgoer Organizations: Bloomberg Locations: Europe

☆ Drought threatens major European river trade route with ripples across the continent
▼ + stars: | 2023-08-04 | by ( Lucy Handley | ) www.cnbc.com time to read: +3 min

Barges of coal at the inland harbor in Duisburg, on the river Rhine in Germany, on Thursday, July 20 2023. The river Rhine, an important trade route that runs through Germany via European cities to the port of Rotterdam, has become shallower at critical points. As water levels go down, a vessel's capacity reduces and shipping costs rise, with prices increasing as rivers become shallower. Water levels at Kaub are closely followed, and if they fall too low, vessels have to sail with reduced loads. Ben Kilb | Bloomberg | Getty ImagesFalling water levels can "significantly impair" manufacturing output, according to the Kiel Institute for the World Economy (IFW).

Persons: Ben Kilb, Lloyd, Tim Beckhoff, we've, Marc Schattenberg, Schattenberg, Beckhoff, Goarshausen Organizations: Bloomberg, Getty, Maersk, Hapag, McKinsey, CNBC, Deutsche Bank ., Deutsche Bank, Kiel Institute Locations: Duisburg, Germany, Europe, Rotterdam, Kaub, Frankfurt, Karlsruhe, St

☆ What are Russia's new charges against jailed Putin foe Navalny?
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Yulia Morozova/File PhotoAug 4 (Reuters) - Russian state prosecutors have asked a court to sentence jailed opposition politician Alexei Navalny to a further 20 years in a penal colony on various criminal charges including extremism, with a verdict expected on Friday. Navalny, President Vladimir Putin's fiercest and most vocal domestic opponent, is already serving sentences totalling 11-1/2 years on fraud and other charges, which he says were trumped up to silence him. Navalny says the charges, like all those before them, have been fabricated to keep him out of public life and politics. It was not clear what the terrorism case could relate to, but Russia's Federal Security Service has said that Ukraine and Russian opposition figures, including Navalny supporters, were involved in the killing of a prominent Russian war blogger. Terrorism carries a sentence in Russia of up to 35 years.

Persons: Alexei Navalny, Yulia Morozova, Navalny, Vladimir Putin's, Dmitry Peskov, Filipp Lebedev, Lucy Papachristou, Gareth Jones, Conor Humphries Organizations: REUTERS, Nazism, Federal Security Service, Terrorism, Thomson Locations: Vladimir Region, Basmanny, Moscow, Russia, Russian, Ukraine

☆ Bernstein picks recession-beating global stocks for ‘value, growth and quality’
▼ + stars: | 2023-08-03 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Investment bank Bernstein picked a raft of Chinese and Indian stocks in sectors including tech, pharma and IT, naming them on a list of "opportunities for value, growth and quality." "We believe that it is time to increase risk exposure in China by adding more high volatility stocks," the analysts wrote. "GPT can accelerate development of its business and give the company the tailwinds to reshape its strategy," the analysts wrote. Indian stock picks Indian drug company Sun Pharma is also on Bernstein's list of outperform-rated stocks. In India … they have outperformed the market," the analysts wrote, and they also praised Sun's specialty drug portfolio in the U.S.

Persons: Bernstein, Rupal Agarwal, India … Organizations: pharma, " Pharma, Wuxi, Baidu, Sun Pharma, U.S, Infosys, Reliance Industries, New Locations: Asia, China, Wuxi, India, Bangalore, New Commerce

New Zealand's Defence Minister Andrew Little poses for a picture in Wellington, New Zealand, March 30, 2023. Launching the country's first national security strategy, Defence Minister Andrew Little said New Zealand faced more geostrategic challenges than it had in decades. The inaugural security strategy underscores how China's rise is upending old norms and behaviours even 9,000 kilometres (5,592 miles) away in Wellington. Chinese state-sponsored actors had exploited cyber vulnerabilities in ways that undermined New Zealand's security, said another document that did not provide further details. "The changes in the domestic and international security environment mean our response and preparedness must change too," Little said.

Persons: Andrew Little, Lucy Craymer, Little, Kevin Short, Lewis Jackson, Simon Cameron, Moore, Gerry Doyle Organizations: Zealand's, REUTERS, Defence, Zealand, New, Labour, New Zealand Defence Force, Thomson Locations: Wellington , New Zealand, New Zealand, Wellington, China, New, Australia, U.S, Vietnam

☆ Goldman Sachs names ‘directors’ cut’ conviction list stocks — and adds 2 names
▼ + stars: | 2023-08-02 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs highlighted a slew of stocks on its U.S. "conviction list — director's cut" selection, naming several "most differentiated buy recommendations," in an August 1 research note. Goldman's "directors' cut" is a list of stocks chosen by its U.S. research analysts and managers. The bank collated a list of "top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," before shortlisting 20 to 25 names. Industrial names on the bank's "directors' cut" list included several that Goldman said are benefiting from post-pandemic demand, such as building services firm Johnson Controls and waste disposal company Republic Services . Goldman's note also included a "What has worked" heading, under which its analysts named three stocks.

Persons: Goldman Sachs, Goldman's, Goldman, Johnson, Baker Hughes, – EBITDA, JB Hunt, Jordan Alliger, Michael Bloom Organizations: Apple, Healthcare, Merck, Services, Consumer, Body, International, Chevron, JPMorgan

☆ New Zealand’s jobless rate rises to 3.6% in second quarter
▼ + stars: | 2023-08-01 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Aug 2 (Reuters) - New Zealand’s jobless rate rose slightly in the second quarter from the previous quarter as more people entered the work force and wage inflation eased off three-decade highs. The unemployment rate increased to 3.6% in the June quarter from 3.4% in the March quarter and was slightly higher than a forecast 3.5% by economists, Statistics New Zealand data showed on Wednesday. Statistics New Zealand said the labour force participation rate at 72.4% and the employment rate at 69.8% were both the highest rates recorded since the survey began. Wage growth started to ease in the quarter although it remains historically high. Reporting by Lucy Craymer; Editing by Sandra Maler and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Lucy Craymer, Sandra Maler, Sonali Paul Organizations: WELLINGTON, Statistics, Reserve Bank of New Zealand, Thomson Locations: Statistics New Zealand, Zealand, New Zealand

☆ Sublime James steers England to last 16 despite missing out on hat-trick
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

"Again, another day of what dreams are made of," James said as she left the field. However, after a VAR review Lucy Bronze was found to be offside in the build-up, and the goal was chalked off. "Yeah, I was disappointed in the moment obviously, but that's football for you, and in the moment I just had to refocus for the game to continue," James told a press conference. True to form, England coach Sarina Wiegman gently steered the discussion away from James' individual brilliance and back to the collective performance. "I think you could see it from the whole team, that we were enjoying ourselves, you could tell that we were really connected," Wiegman told reporters.

Persons: England's Lauren James, James, Alessia Russo, Lauren Hemp, Lucy Bronze, Chloe Kelly, Sarina Wiegman, Wiegman, LJ, Adam Millington, Philip O'Connor, Christian Radnedge Organizations: ADELAIDE, China, England's, Thomson Locations: Nigeria, Brisbane, England

☆ England smash China for six to ease into last 16 as group winners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

Alessia Russo gave the European champions the perfect start with a goal in the fourth minute and Lauren Hemp and James added two more to give England a comfortable lead at the break at Hindmarsh Stadium. Without the injured Keira Walsh as the holding midfielder, England shifted to a 3-5-2 formation and caused havoc for China with balls into the box from the flanks. "The team showed that they're really adaptable ... that we can change shape very easily, that's what we showed tonight." It was a record World Cup defeat for Asian champions and 1995 semi-finalists China, who exit in the group stage for the first time in eight appearances at the global showpiece. "It's very unfortunate that we had this terrible loss," said China coach Shui Qingxia.

Persons: Lauren James, Alex Greenwood, Lauren Hemp, Alessia Russo, Hannah Mckay, James, Chloe Kelly, Rachel Daly, Keira Walsh, Sarina Wiegman, Shui, Russo, Millie Bright, Wang, Lucy Bronze, Jess Carter's, Kelly, Zhu Yu, wingback Daly, Nick Mulvenney, Christian Radnedge Organizations: Soccer Football, FIFA, England, Hindmarsh, Alessia Russo REUTERS, Reuters Connect, Nigeria, China, Denmark, Haiti, Manchester City, Thomson Locations: New Zealand, China, Adelaide, Australia, Brisbane, England

☆ Investors still see blue sky ahead for Europe travel stocks as boom abates
▼ + stars: | 2023-07-31 | by ( Danilo Masoni | ) www.reuters.com time to read: +4 min

"For many people, the pandemic is now over, and this is time now for travelling far from home," said Corinne Martin, fund manager at Ofi Invest in Paris. The point at which China announced the end of health restrictions in 2022 was probably the best moment to jump into travel stocks. They remain buyers, noting how at 11 times 2024 earnings, the stock displays an unjustified discount and prices no growth. "Now, vacation budget is no more a variable families adjust," said Jerome Schupp, fund manager at Prime Partners in Geneva. European travel and leisure earnings are seen rising 63% this year and 23% in 2024, according to Refinitiv Datastream.

Persons: Corinne Martin, Ofi's Martin, Martin, Goldman Sachs, Jerome Schupp, Schupp, Cristina Matti, Andrea Scauri, Lastminute, Refinitiv, Lucy Raitano, Conor Humphries Organizations: MILAN, Ofi Invest, Paris . Airlines, Royce, World Tourism Organization, China, Traders, Paris Olympics, UEFA European Football, Ryanair, Europe's, Prime Partners, Visa, Air, Thomson Locations: Paris, Europe, Germany, Geneva, Air France, Lemanik, London

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

However, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, these are all reasons to be a "little cautious" following the busiest week for earnings. All reasons to get a little cautious on the market," Slimmon told CNBC's Squawk Box Asia Thursday. Microsoft and Alphabet kicked off earnings season last week for the mega-caps, while Apple and Amazon are set to report this week. "I am not negative on the mega-cap tech stocks," Slimmon said, acknowledging Microsoft's strong results . Slimmon pointed out that the broadening of investors' interests is also likely at play, adding further selling pressure to Big Tech stocks.

Persons: Andrew Slimmon, Slimmon, CNBC's, MSFT, there's, Slimmon's isn't, Janet Yellen, Morgan Stanley, steelmaker Organizations: Nasdaq, U.S . Federal, Morgan Stanley Investment Management, Microsoft, Apple, Big Tech, Dow Jones, United, Treasury, Corp, JPMorgan, Ameriprise Locations: China, U.S

LONDON/SYDNEY, July 31 (Reuters) - Commercial real estate investors and lenders are slowly confronting an ugly question - if people never again shop in malls or work in offices the way they did before the pandemic, how safe are the fortunes they piled into bricks and mortar? WALL OF DEBTGlobal banks hold about half of the $6 trillion outstanding commercial real estate debt, Moody's Investors Service said in June, with the largest share maturing in 2023-2026. U.S. banks revealed spiralling losses from property in their first half figures and warned of more to come. Borrowers in the UK real estate holding & development category were 4% more likely to default. But the whale could be commercial real estate in the U.S.".

Persons: Richard Murphy, Jeffrey Sherman, Charles, Henry Monchau, Bank Syz, Jones Lang LaSalle, Savills, JLL, Dhara Ranasinghe, Huw Jones, Clare Jim, Kirsten Donovan Organizations: Employers, UK's Sheffield University, Reuters, Investors, Moody's Investors Service, Fed, Federal, Bank, Suisse, Washington D.C, HSBC, Capital Economics, Thomson Locations: SYDNEY, London, Los Angeles and New York, U.S, New York, Beijing, San Francisco, Tokyo, Washington, Shanghai, North America, Hong Kong

☆ I gave up my 6-figure journalism job to become a high school teacher. It was a huge culture shock — and nothing like 'Dead Poets Society.'
▼ + stars: | 2023-07-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

She gave up her six-figure salary to retrain as a teacher and set up the charity Now Teach. My mum was a great school teacher and when she died when I was in my forties I briefly thought about becoming a teacher like her. Ten years later when my dad died, I thought I needed to do something radical with the time I had left of my working life. So for me to leave readers with the impression that my life is like "Dead Poets Society" couldn't be further from the truth. I knew from writing about working life that many people in their fifties who were lawyers or worked in other corporate roles get bored with it and want to do something more useful.

Persons: Lucy Kellaway, I've, we've, We've Organizations: Financial Times, Service, JPMorgan, Oxford University, View, Poets Society, Penguin Locations: Wall, Silicon, Gateshead, England, Bracken House, City of London, Hackney, London

☆ Goldman names China stocks set for a bounce — and 2 make its list of top buy-rated picks
▼ + stars: | 2023-07-28 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified a number of Chinese stocks to buy after the government announced a number of major fiscal stimulus measures this week. The bank added that it expects Chinese stocks to "trade better" in the coming months. Goldman screened for buy-rated stocks in several areas related to China's policy announcement, including internet giants Tencent and JD , as well as its medical platform JD Health . In real estate, Goldman is buy-rated on property software company Beike and on mobile components company BYD Electronic as well as online recruitment firm Kanzhun . Search engine giant Baidu and drinks company China Resources Beer are also picks of the bank, and appear on its Asia-Pacific conviction list of top buy-rated stocks.

Persons: Goldman Sachs, Kinger Lau, Goldman, — CNBC's Michael Bloom, Clement Tan Organizations: country's Communist Party, Tencent, Baidu, China Resources Locations: China, Asia

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