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☆ North Korea's Kim views Russian nuclear-capable bombers, hypersonic missiles
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +4 min

Summary Kim inspects nuclear-capable bombersKim shown hypersonic missilesPutin's defence minister greets KimKim inspects war ship of Russia's fleetVLADIVOSTOK, Russia, Sept 16 (Reuters) - North Korean leader Kim Jong Un inspected Russian nuclear-capable strategic bombers, hypersonic missiles and warships on Saturday, accompanied by President Vladimir Putin's defence minister. Shoigu showed Kim Russia's strategic bombers - the Tu-160, Tu-95 and Tu-22M3 - which are capable of carrying nuclear weapons and form the backbone of Russia's nuclear air attack force, Russia's defence ministry said. Kim was shown asking about how the missiles were fired from the aircraft, at times nodding and smiling. Acquire Licensing RightsAfter the aircraft and missiles, Kim inspected the warship of Russia's Pacific fleet in Vladivostok, where he was due to watch a demonstration by the Russian navy. Putin told reporters Russia was "not going to violate anything", but would keep developing relations with North Korea.

Persons: Kim, Kim Kim, Kim Jong Un, Vladimir Putin's, Sergei Shoigu, Shoigu, Kim Russia's, Kim Jong, Putin, Dmitry Peskov, Washington, Guy Faulconbridge, William Mallard Organizations: Russian, Defence, North, REUTERS, Acquire, Pyongyang, Kim's, West, Russia, Kremlin, Reuters, Thomson Locations: VLADIVOSTOK, Russia, Knevichi, Pacific, Vladivostok, United States, South Korea, Pyongyang, Ukraine, Moscow, Japan, Artyom, Primorsky, Russia's Primorsky Krai, Russian, North Korea, U.N, Soviet Union, Washington, U.S

☆ Komsomolsk-on-Amur: Kim Jong Un visits fighter jet plant in Russia as Putin accepts invite to North Korea
▼ + stars: | 2023-09-15 | by ( Helen Regan Mariya Knight Anna Chernova Akanksha Sharma | Helen Regan | Mariya Knight | ) edition.cnn.com time to read: +7 min

Images showed Kim and his delegation at the Yuri Gagarin Komsomolsk-on-Amur Aircraft Plant (KnAAZ), which is named after the famed Russian cosmonaut, and being shown the inside of a fighter jet, according to Russian state media RIA Novosti. At a state banquet with Putin Wednesday, Kim vowed to establish “a new era of 100-year friendship” between the two countries. In return, Putin signaled a willingness to assist North Korea in developing its space and satellite program. Ukraine’s Defense Intelligence said Wednesday that military cooperation between Russia and North Korea was not new. Meanwhile, the national security advisers of the United States, South Korea, and Japan on Thursday jointly issued a warning regarding potential violations of international sanctions by North Korea and Russia.

Persons: Kim Jong Un, Kim’s, Kim Jong Il, Kim, Yuri Gagarin Komsomolsk, Alexander Zhornik, Mikhail Degtyarev, Vladimir Putin, Putin, Sergey Lavrov, Dmitry Peskov, Kim Jong, Peskov, ”, “, AP Kim, ambitiously, ” Kim, Mykhailo Podolyak, Andrii Yusov, ” Yusov, Biden, Wagner Organizations: CNN, North, Ministry of Defense, TASS, Amur Aircraft, Fleet, Russia, Russian, Putin, AP, Ukrainian, Ukraine’s Defense Intelligence, Defense Intelligence, South, United Nations Locations: Russia, Komsomolsk, Russian, Khabarovsk, Vladivostok, East, North Korea, Ukraine, Moscow, Pyongyang, North, Korean, United States, Korea, Ukrainian, South Korea, Japan

The Japanese conglomerate put in its offer to the European Commission on Thursday, the same day it requested EU clearance for the deal, an EU regulatory filing showed on Friday. The EU competition enforcer, which set a Nov. 6 deadline for its decision, did not provide details of the remedies in line with its policy. The company had sought EU approval in October last year but withdrew its application a month later. The deal underscores the consolidation in the rail industry, with independent players teaming up with bigger industrial groups. The Competition and Markets Authority (CMA) in August narrowed its concerns, saying the deal would not substantially lessen competition in the supply of communications-based train control signalling systems in the UK.

Persons: Arnd, Foo Yun Chee, David Evans, Louise Heavens Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow, European, UK Competition, Markets Authority, EU, Thomson Locations: Zurich, Switzerland, France, Germany

☆ China to formulate 'special' measures to widen Taiwan's access to Fujian
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

A Chinese warship fires during a military drill off the Chinese coast near Fuzhou, Fujian Province, across from the Taiwan-controlled Matsu Islands, China, April 11, 2023. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 14 (Reuters) - China will take a number of "special" policy measures to improve access for Taiwanese enterprises to Fujian province across the Taiwan Strait, the Chinese state planner said on Thursday, under a long-term cross-strait integrated development plan. The steps are part of a plan announced by China on Tuesday to turn coastal Fujian province into a zone for integrated development with Taiwan, which China claims as part of its territory. He added that Beijing also supports new energy cooperation between Taiwan, which it regards as a Chinese province, and Ningde, a Fujian city north of Xiamen. Strait Innovation Internet Co (300300.SZ) and Zhongfu Straits Pingtan Development Co (000592.SZ), both based in Pingtan, rose 8% and 5%, respectively.

Persons: Thomas Peter, Liang, Ryan Woo, Ethan Wang, Jason Xue, Jacqueline Wong Organizations: REUTERS, Rights, National Development, Reform Commission, Innovation Internet, Pingtan Development, Thomson Locations: Fuzhou, Fujian Province, Taiwan, Matsu Islands, China, Rights BEIJING, Fujian, Taiwan Strait, Xiamen, Kinmen, Beijing, Pingtan, China's, Zhongfu

☆ North Korean Leader Heads for Aviation Plant in Russian Far East Town
▼ + stars: | 2023-09-14 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) -North Korean leader Kim Jong Un arrived in the town of Komsomolsk-on-Amur in Russia's Far East on Friday and headed straight to a vast aviation plant that produces warplanes and other equipment, TASS news agency said. Tass said Kim was met by the regional governor and other officials on a red carpet at the town's railway station. He was whisked off to the Komsomolsk aviation plant, named after Soviet cosmonaut Yuri Gagarin, the first person in space. The plant produces Russia's most modern fighter jets, with TASS singling out the Su-35 and Su-57. Kim, accompanied by Russian President Vladimir Putin, on Thursday visited Vostochny cosmodrome, Russia's most modern space launch facility, in Amur region.

Persons: Kim Jong Un, Kim, Yuri Gagarin, Vladimir Putin, Putin, Ron Popeski, Gerry Doyle Organizations: Reuters, TASS, Vostochny Locations: Komsomolsk, Russia's Far, town's, Soviet, Russian, Vostochny cosmodrome, Amur, North Korea

☆ North Korean leader heads for aviation plant in Russian Far East town
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

North Korea's leader Kim Jong Un arrives at the Vostochny Сosmodrome for a meeting with Russia's President Vladimir Putin, in the far eastern Amur region, Russia, September 13, 2023. TASS said Kim was met by the regional governor and other officials on a red carpet at the town's railway station. He was whisked off to the Komsomolsk aviation plant, named after Soviet cosmonaut Yuri Gagarin, the first person in space. The plant produces Russia's most modern fighter jets, with TASS singling out the Su-35 and Su-57. Kim, accompanied by Russian President Vladimir Putin, on Thursday visited Vostochny cosmodrome, Russia's most modern space launch facility, in the Amur region.

Persons: Kim Jong Un, Vladimir Putin, Mikhail Metzel, Kim, Yuri Gagarin, Park Jin, Yonhap, Putin, Ron Popeski, Gerry Doyle Organizations: Sputnik, REUTERS Acquire, TASS, South Korean Foreign, Vostochny, Thomson Locations: Amur, Russia, Kremlin, Komsomolsk, Russia's Far, town's, Soviet, North Korea, Russian, Vostochny cosmodrome

☆ Mitt Romney doesn't respect JD Vance — but he sure is willing to work with him
▼ + stars: | 2023-09-14 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Sen. Mitt Romney said he couldn't "disrespect someone more" than his GOP colleague, JD Vance. On Wednesday afternoon, less than an hour after Republican Sen. Mitt Romney announced that he would not seek re-election next year, The Atlantic published the first excerpt of a forthcoming biography of the Utah senator. AdvertisementAdvertisement"I don't know that I can disrespect someone more than JD Vance," Romney said in the summer of 2021, according to the excerpt. Romney, the genteel Never-Trumper and 2012 presidential nominee, has partnered with Sen. Vance on major pieces of legislation more than once. AdvertisementAdvertisementVance, who loudly laughed when asked about Romney's comments, also offered something of a challenge to the retiring senator.

Persons: Sen, Mitt Romney, JD Vance, Vance, Republican Sen, Romney —, —, JD Vance —, Trumper, Romney, It's Organizations: GOP, Service, United States Senate, Republican, United, Railway Locations: Wall, Silicon, Utah, United States, Ohio, cosponsor, East Palestine

☆ Greek prosecutor orders investigation into deadly floods
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

An aerial view of cars stuck on a bridge surrounded by flood waters, as storm Daniel hits central Greece, in the village of Flamouli, near Trikala, Greece, September 7, 2023. The investigation will also look into whether flood prevention measures taken by local authorities were adequate in the light of clear advance warnings by Greece's national meteorological service. Nearly a week after Daniel, many villages across some 72,000 hectares were still swamped with muddy water in the Thessaly plain. The EU Commission said on Tuesday that Greece could tap up to 2.25 billion euros in European funds to tackle the impact of the storm. ($1 = 0.9316 euros)Reporting by Angeliki Koutantou; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel, Stergios, Greece's, Christos Staikouras, Staikouras, Angeliki Koutantou, Alex Richardson Organizations: REUTERS, Rights, Athens News Agency, EU, Fund, Thomson Locations: Greece, Flamouli, Trikala, Athens, Thessaly, Volos, Karditsa, Larissa, Thessaloniki

☆ China to Formulate 'Special' Measures to Widen Taiwan's Access to Fujian
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) -China will take a number of "special" policy measures to improve access for Taiwanese enterprises to Fujian province across the Taiwan Strait, the Chinese state planner said on Thursday, under a long-term cross-strait integrated development plan. The steps are part of a plan announced by China on Tuesday to turn coastal Fujian province into a zone for integrated development with Taiwan, which China claims as part of its territory. He added that Beijing also supports new energy cooperation between Taiwan, which it regards as a Chinese province, and Ningde, a Fujian city north of Xiamen. Opening up of an experimental development zone in Pingtan, China's closest point to the main Taiwan island across the strait, will be expedited, Cong added. Strait Innovation Internet Co and Zhongfu Straits Pingtan Development Co, both based in Pingtan, rose 8% and 5%, respectively.

Persons: Liang, Ryan Woo, Ethan Wang, Jason Xue, Jacqueline Wong Organizations: National Development, Reform Commission, Innovation, Pingtan Locations: BEIJING, China, Fujian, Taiwan Strait, Xiamen, Taiwan, Kinmen, Beijing, Pingtan, China's, Zhongfu

☆ North Korea fires two ballistic missile with leader Kim away in Russia
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +1 min

A man watches a television news screen showing a picture of North Korea's recent test-firing of a Hwasong-17 intercontinental ballistic missile (ICBM), at a railway station in Seoul on March 17, 2023. North Korea fired two ballistic missiles off its east coast, South Korea's Joint Chiefs of Staff and the Japanese Coast Guard said on Wednesday, just hours before leader Kim Jong Un was expected to meet President Vladimir Putin in Russia. It was the first such launch to occur while Kim was abroad for a rare trip, analysts said. But about five minutes after the first launch warning, Japan's Coast Guard reported the missile had fallen into the sea. Japan's Chief Cabinet Secretary Hirokazu Matsuno told reporters that Japan had lodged a protest against North Korea through diplomatic channels in Beijing.

Persons: Kim Jong Un, Vladimir Putin, Kim, Hirokazu Matsuno Organizations: South Korea's, Chiefs, Staff, Japanese Coast Guard, Japan's Coast Guard, North Locations: Seoul, North Korea, South, Russia, Japan, Beijing

COLOMBO, Sri Lanka (AP) — Sri Lanka's government deployed army troops at railroad stations as railway employees continued with their strike that paralyzed train services across the country for a second day Wednesday, a day after two passengers were killed while attempting to travel on a packed train. Tens of thousands of passengers have been greatly inconvenienced because of the strike. The strike was launched by the Sri Lanka Locomotive Operating Engineers Union, which includes engine drivers. Sri Lanka's train services are substandard, with poorly maintained compartments and tracks because of years of mismanagement and a lack of proper planning. Ravi Herath said armed troops were deployed “to provide security for the public, railway passengers, employees of the railway and also to protect the government property.”

Persons: Bandula Gunawardena, S.R, Senanayake, Ravi Herath, ” Organizations: Passengers, Sri, Sri Lanka Locomotive Operating Engineers Union, Trade, Military Locations: COLOMBO, Sri Lanka, Sri

☆ South Korea Rail Workers Launch First Strike in Four Years
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

The Korean Railway Workers' Union demands improved pay and working conditions and an expansion of the KTX bullet train services to include lucrative routes such as in southern Seoul. Company chief Han Moon-hee criticised the strike as "illegitimate" and urged the workers to return to work. Labor Minister Lee Jeong-sik on Wednesday also called for the union to cancel the planned strike, citing an economic impact and public inconvenience. According to the Korea Cement Association, rail accounts for 40% of cement transportation, and if the strike lengthens, the reduced ability to deliver could affect firms' profitability during the fall's peak building season. If the strike lengthens, we will have to convert to land transportation, which will drive up costs and hit profitability," the official said.

Persons: Hyonhee Shin, Joyce Lee SEOUL, KORAIL, Han, Lee Jeong, sik, it's, Stephen Coates Organizations: Korean Railway Workers, Union, Korea Railroad Corp, Company, Labor, Korea Cement Association Locations: Seoul

☆ Kim Jong Un's latest alliance with Putin could make him a formidable force
▼ + stars: | 2023-09-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

North Korea's Kim Jong Un and Russia's Vladimir Putin are meeting in Vladivostok. But this time, it's Kim who has the upper hand, and many fear his new alliance with Putin will make him a formidable force. "If Russia pays in oil and food, it can revive the North Korea economy, which in turn could then also strengthen North Korea's weapons system. AdvertisementAdvertisementBut Putin, at this stage, likely sees challenging US influence in Asia, by bolstering North Korea, as a bigger priority. In the tumult that's resulted from the Ukraine war, Kim, a canny and ruthless player, could yet emerge as one of the big winners.

Persons: Kim Jong, Russia's Vladimir Putin, Putin, Kim, Kim Jong Un, Vladimir Putin, Donald Trump, it's Kim, Victor Cha, Ellen Kim, Sergei Shoigu, JUNG YEON, Yang, Sergey Radchenk, Henry, Kissinger Organizations: Service, North, New York Times, Analysts, CSIS, Russian, Korean, Getty, Asian Institute for Policy Studies, BBC, UN Security Council, Guardian, China, US Locations: Vladivostok, Ukraine, Wall, Silicon, North Korean, North Korea, Russia, Washington, Seoul, North, Asia

☆ New Mideast corridor would include trains to India, Delhi says
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Saudi Arabia's Crown Prince Mohammed bin Salman inspects the honour guard during his ceremonial reception at the Rashtrapati Bhavan presidential palace in New Delhi, India, September 11, 2023. Asked about the proposals, Ausaf Sayeed, a secretary in the Foreign Ministry, spelled out that the corridor would include trains to India and not just links by port. Saudi Arabia is among the top exporters of petroleum to India. Sayeed said that new corridor will include ports, railways, better roads and also power, gas grids and optical fiber network. During their talks earlier in the day the Indian leader and the Saudi crown prince also discussed cooperation in space, semiconductors and collaboration in defence manufacturing as well.

Persons: Crown Prince Mohammed bin Salman, Stringer, Ausaf, Khalid Al Falih, Prince Mohammed bin Salman's, Sayeed, Shivam Patel, Krishn Kaushik, Ed Osmond, Angus MacSwan Organizations: Saudi, Crown, REUTERS, Foreign Ministry, European Union, United Arab, Initiative, Saudi Investment, Gulf Cooperation Council, Thomson Locations: New Delhi, India, DELHI, East, South Asia, Indian, Delhi, United States, Saudi Arabia, United Arab Emirates, Monday, Saudi

REUTERS/Raquel Cunha Acquire Licensing RightsMEXICO CITY, Sept 11 (Reuters) - The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. Lopez Obrador last week backed former Mexico City Mayor Claudia Sheinbaum as his party's candidate to succeed him. Historic data show the projected budget deficit for 2024 will be the highest since 1988 as a proportion of GDP. The government's higher spending plans should bolster Latin America's second-biggest economy, which has outpaced forecasts this year, brightening the outlook for 2024. He also noted that since Mexico's current account deficit is currently considerably lower than foreign direct investment, there was a pool of untapped demand in the economy that the government could temporarily offset via higher spending.

Persons: Mexico's Finance Ministry Rogelio Ramirez de la O, Marcela Guerra, Raquel Cunha, Andres Manuel Lopez Obrador, Lopez, Patricia Terrazas, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Gabriela Siller, Alberto Ramos, Goldman Sachs, Ramos, Raul Feliz, Feliz, Dave Graham, Diego Ore, Noe Torres, Jamie Freed Organizations: Mexico's Finance Ministry, Mexican, REUTERS, Lopez Obrador's, Action Party, PAN, Mexico City Mayor, Banco Base, Bank of, Thomson Locations: Mexico City, Mexico, MEXICO, Bank of Mexico

☆ Mexico's Election Year Deficit Plan Fuels Fear Over Finances
▼ + stars: | 2023-09-11 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

By Dave Graham and Diego OréMEXICO CITY (Reuters) - The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. Lopez Obrador last week backed former Mexico City Mayor Claudia Sheinbaum as his party's candidate to succeed him. Historic data show the projected budget deficit for 2024 will be the highest since 1988 as a proportion of GDP. The government's higher spending plans should bolster Latin America's second-biggest economy, which has outpaced forecasts this year, brightening the outlook for 2024. He also noted that since Mexico's current account deficit is currently considerably lower than foreign direct investment, there was a pool of untapped demand in the economy that the government could temporarily offset via higher spending.

Persons: Dave Graham, Diego, Andres Manuel Lopez Obrador, Lopez, Patricia Terrazas, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Gabriela Siller, Alberto Ramos, Goldman Sachs, Ramos, Raul Feliz, Feliz, Diego Ore, Noe Torres, Jamie Freed Organizations: MEXICO CITY, Lopez Obrador's, Action Party, PAN, Mexico City Mayor, Banco Base, Bank of Locations: MEXICO, Mexico, Bank of Mexico, Mexico City

☆ Key takeaways from the 2023 G20 summit in New Delhi
▼ + stars: | 2023-09-10 | by ( Sanjeev Miglani | ) www.reuters.com time to read: +4 min

FILE PHOTO-A man walks past a model of the G20 logo outside a metro station ahead of the G20 Summit in New Delhi, India, September 4, 2023. The entry of the AU would provide greater voice to the Global South within the G20 where the G7 countries have long played a dominant role. The deliberations of the G20 were being closely watched ahead of the COP28 U.N climate summit in the United Arab Emirates later this year. Modi's image has been on G20 billboards across the capital and in the vast and swanky new conference venue. To his supporters the successful outcome of the summit showed India's big moment had arrived.

Persons: Anushree, Joe Biden, Biden, MODI, Narendra Modi, Sanjeev Miglani, Kim Coghill Organizations: REUTERS, World Bank, Union, Diplomats, Host, European Union, U.S, Washington, United Arab, AS, Indian, India, Thomson Locations: New Delhi, India, DELHI, Ukraine, UKRAINE, Russia, Brazil, Indonesia, South Africa, China, Saudi Arabia, Iran, Beijing, SAUDI, United States, East, South Asia, Europe, United Arab Emirates

☆ Four killed in Spain train accident
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: 1 min

MADRID, Sept 10 (Reuters) - At least four people were killed on Sunday when they were hit by a locomotive near Barcelona while trying to cross railway tracks, emergency services said. The accident happened at 8:22 p.m. in Montmelo near the Catalan capital when seven people crossed the tracks at a forbidden location, Renfe, the state rail operator, said. Three people were killed at the scene and a fourth person died in hospital after suffering a cardio-respiratory arrest, emergency services said on Sunday. Three others were in hospital suffering from injuries. Reporting by Graham Keeley; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Graham Keeley, Lisa Shumaker Organizations: Renfe, Thomson Locations: MADRID, Barcelona, Montmelo

☆ U.S., India, Saudi, EU unveil a massive rail and ports deal on G20 sidelines
▼ + stars: | 2023-09-09 | by ( ) www.cnbc.com time to read: +2 min

Global leaders announced a multinational rail and ports deal linking the Middle East and South Asia on Saturday on the sidelines of the G20 summit in New Delhi. Biden said it was a "real big deal" that would bridge ports across two continents and lead to a "more stable, more prosperous and integrated Middle East." A memorandum of understanding for the deal was set to be signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the U.S. and other G20 partners. The move comes amid U.S. efforts for a broader diplomatic deal in the Middle East that would have Saudi Arabia recognise Israel. From the U.S. viewpoint, Finer added, the deal helps "turn the temperature down across the region" and "address a conflict where we see it".

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Joe Biden, Narendra Modi, Biden, Jon Organizations: Saudi, Saudi Arabian Crown, Indian, Global, Washington, European Union, United Arab Emirates Locations: Saudi Arabian, New Delhi, India, East, South Asia, U.S, Gulf, Europe, Saudi Arabia, Israel

☆ US, India, Saudi, EU to unveil rail, ports deal on G20 sidelines -White House official
▼ + stars: | 2023-09-09 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

U.S. President Joe Biden listens to the opening remarks of Indian Prime Minister Narendra Modi during the first session of the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Evan Vucci/Pool via REUTERS Acquire Licensing RightsNEW DELHI, Sept 9 (Reuters) - A multinational rail and ports deal linking the Middle East and South Asia will be announced on Saturday on the sidelines of the G20 summit in New Delhi, a White House official said. A memorandum of understanding for the deal will be signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the United States and other G20 partners, Finer said. The move comes amid U.S. efforts for a broader diplomatic deal in the Middle East that would have Saudi Arabia recognise Israel. From the U.S. viewpoint, Finer added, the deal helps "turn the temperature down across the region" and "address a conflict where we see it".

Persons: Joe Biden, Narendra Modi, Evan Vucci, Jon, Nandita Bose, Krishn Kaushik, Shivam Patel, Clarence Fernandez Organizations: Indian, REUTERS Acquire, White, Washington, European Union, United Arab Emirates, Thomson Locations: New Delhi, India, DELHI, East, South Asia, U.S, Gulf, Europe, Saudi Arabia, United States, Israel

☆ IPOs are heating up again. Here's why Warren Buffett thinks they are a bad investment idea
▼ + stars: | 2023-09-09 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The chief executive officer of Berkshire Hathaway , with his legendary keen eye for value, thinks that bargains are rarely found in the IPO market. 'Ridiculous' commission Both Buffett and Munger have called the underwriting fees that investment banks charge for IPOs "ridiculous," saying they inflate IPO prices. Better in auction market The investment icon likens the stock market to an auction market where extraordinary bargains pop up now and again. By contrast, the IPO market resembles a negotiated deal where cheap securities are hard to come by. "In my view — you're way more likely to get incredible bargains in an auction market.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, Buffett's, Munger, Goldman Sachs, Benjamin Graham, they're Organizations: Arm Holdings, Berkshire Hathaway, Oracle, Wall, Columbia University, Berkshire, BNSF Railway, Apple, Clayton Homes Locations: Omaha, Alleghany, It's

☆ Extreme rain causes deadly flooding in Hong Kong
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: 1 min

[10/17]A view of receding floodwaters at Shenzhen railway station near a border crossing to Hong Kong, following heavy rainfall in Luohu district of Shenzhen, Guangdong province, China September 8. REUTERS/David KirtonSHENZHEN, GUANGDONG, CHINA

Persons: David Kirton Organizations: REUTERS Locations: Shenzhen, Hong Kong, Luohu district, Guangdong province, China, David Kirton SHENZHEN, GUANGDONG, CHINA

[1/3] View of deserted roads ahead of the G20 summit in New Delhi, India, September 8, 2023. Nearly 130,000 police and paramilitary security personnel have been deployed across the city, mostly in the New Delhi district, with the air force providing cover from aerial threats. "While the entire country is a host, Delhi will bear maximum responsibility" for the G20 summit, Modi said. “The tourists coming to Delhi for G20 should look at our shops, buy something. Newspaper advertisements that the Delhi Police has been publishing every day with traffic advisories and route maps for the general public, say: “India is proud to host the 18th G-20 Summit”.

Persons: Francis Mascarenhas, Joe Biden, Olaf Scholz, Emmanuel Macron, Saudi Arabia's Mohammed Bin Salman, Japan's Fumio, Sanjeev Mehra, Narendra Modi, Modi, Yashowarthan, ”, Bhava ”, Krishn Kaushik, Joeseph Campbell, Mayank Bhardwaj, YP Rajesh, Raju Gopalakrishnan Organizations: REUTERS, India, U.S, Market Traders Association, Authorities, Delhi Police, New Delhi Municipal Corporation, Offices, YP, Thomson Locations: New Delhi, India, DELHI, Saudi, capital's, Connaught, Delhi, Taxis, Dariba Kalan

BERLIN (AP) — A series of fires hit railway infrastructure in the German city of Hamburg overnight, causing widespread disruption to trains between Hamburg and Berlin and between the port city and the Baltic Sea coast. Railway operator Deutsche Bahn said that trains on the main high-speed route between Hamburg and Berlin were canceled because of vandalism. It said it was running some trains on an alternative route that takes up to an hour longer. Hamburg police said that cable ducts next to railway lines were set on fire at three locations in the city between 2:30 and 4 a.m. They said in a statement that they suspect “a political motive as the background” and are seeking witnesses, but gave no further details of the reasons for their suspicions.

Persons: “, ” Organizations: BERLIN, Police, Deutsche Bahn, Hamburg Locations: German, Hamburg, Berlin, Baltic, Rostock

☆ Hong Kong 'black' rainstorm: Widespread flash flooding after heaviest rainfall since 1884
▼ + stars: | 2023-09-07 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Record-breaking rainfall paralyzed much of Hong Kong on Friday, with flash flooding submerging metro stations and trapping drivers on roads, as authorities suspended schools and urged the public to seek safe shelter. Vehicles submerged in a flooded parking lot in Hong Kong on September 8, 2023. Tyrone Siu/ReutersThe extreme conditions caught many residents by surprise and come just days after Hong Kong was lashed by its strongest typhoon in five years. A shopping mall floods during heavy rain in Hong Kong on September 8, 2023. A bus drives through a flooded area in Hong Kong on September 8, 2023.

Persons: Tyrone Siu, Hong Kong, Typhoon Saola, Wong Tai, “ Organizations: Hong Kong CNN —, Hong Kong Observatory, Hong Kong, Mass Transit Railway, RTHK, Transport Locations: Hong Kong, Hong, Wong Tai Sin, New Territories, Shenzhen

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