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☆ 6 HENRYs detail how they save and invest their 6-figure incomes — and what financial stresses they're preparing for
▼ + stars: | 2023-11-22 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

HENRYs — high earners, not rich yet — are a wide-ranging group often making over $100,000. Business Insider spoke to six HENRYs across the country about how they're saving amid high inflation. There's a wide variety of experiences and views among self-described HENRYs about their financial situations and goals. AdvertisementTo keep savings high, he fixes many monthly expenses — he schedules four haircuts a year, and he goes to the grocery store once a month. "Even the ones that are older and closer to retirement with $1-2 million in retirement savings, they're feeling the pinch as well, so it kind of made me feel better that I'm not alone," Eric said.

Persons: HENRYs, —, Miles Goodloe, HENRY, he's, Goodloe, what's, He's, Robert Oszust Jr, Oszust, we're, Greg, Greg —, he's oversaving, they're, Sherry, She's, she's, Boresta, he'll, I'm, that's, Eric, who's Organizations: Business, Service, HENRYs, Social Security Locations: There's, Connecticut, Washington ,, Ohio

☆ The Luncheonette Serving New York’s Best Egg Creams
▼ + stars: | 2023-11-21 | by ( Reggie Nadelson | ) www.nytimes.com time to read: +1 min

It was a business decision.”Philis has degrees in history and public administration from New York University. He came in to help his father during school vacations, then joined the family business full time after college and graduate school. By 1980, he was in charge, and in 1990 he brought on his business partner, Bob Karcher. I’m curious about why they call it a luncheonette rather than a diner. “A luncheonette has lighter fare in that there’s not a dinner menu,” says Philis.

Persons: John, Soterios, ” Philis, Bob Karcher, Mary, there’s, “ Organizations: New York University Locations: Europe

☆ A Look at Suella Braverman’s Turbulent Time as Home Secretary.
▼ + stars: | 2023-11-13 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +5 min

Here’s a look at some of Ms. Braverman’s most prominent disputes. Despite her dismissal, Ms. Braverman was again appointed home secretary six days later, on Mr. Sunak’s first day in office. While the plan was first announced by Ms. Braverman’s predecessor, Priti Patel, Ms. Braverman has been an ardent supporter and put the policy front and center. Ms. Braverman had for weeks characterized these protests as “hate marches,” despite the fact that the demonstrations have been mostly peaceful. But then Ms. Braverman, who as home secretary oversees policing in Britain, went a step further later in the week.

Persons: Braverman, Rishi Sunak, Liz Truss, Braverman’s, Truss, Sunak’s, Priti Patel, Sunak, ” Organizations: Conservative, Appeal, London’s Metropolitan Police Service, Islamists, Hamas Locations: Britain, Rwanda, Israel, Gaza, London

☆ Wages boost US labor costs in third quarter
▼ + stars: | 2023-10-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The Employment Cost Index (ECI), the broadest measure of labor costs, rose 1.1% last quarter after increasing 1.0% in the April-June period, the Labor Department's Bureau of Labor Statistics reported. Labor costs increased 4.3% on a year-on-year basis after advancing by 4.5% in the second quarter. Wages increased 1.2% in the third quarter after climbing 1.0% in the prior three months. They were up 4.6% on a year-on-year basis after advancing by the same margin in the second quarter. Inflation-adjusted wages for all workers rose 0.9% on a year-on-year basis after jumping 1.7% in the second quarter.

Persons: Megan Varner, Rubeela Farooqi, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, Federal Reserve, Labor Department, Treasury, Fed, Labor Department's Bureau of Labor Statistics, Reuters, Labor, State, Thomson Locations: Dalton , Georgia, U.S

☆ Canada bans China’s Wechat from government devices citing security risks
▼ + stars: | 2023-10-31 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Canada has banned Chinese super-app WeChat on official government devices citing cybersecurity risks, following similar action taken against short-form video app TikTok earlier this year. CNN has reached out to Tencent, the owner of Wechat, and Kaspersky Lab for comment. In February, the Canadian government banned TikTok, owned by Beijing-based ByteDance, from government-issued mobile devices in light of cybersecurity concerns. Relative to TikTok, Wechat has been a less prominent target of global governments over the past year in part because it is much more popular among Chinese speakers. In August 2020, then-US President Donald Trump tried to ban Wechat along with TikTok by issuing executive orders.

Persons: Yintao Yu, Wechat, Donald Trump, Joe Biden Organizations: Hong Kong CNN —, Kaspersky, Treasury Board of Canada, CNN, Facebook, Twitter, PayPal, Chinese Communist Party, Trump Locations: Hong Kong, Hong Kong CNN — Canada, Russian, China, Beijing, California

☆ EU to help Western Balkans reforms with 6 billion euro package - von der Leyen
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +3 min

SARAJEVO, Oct 30 (Reuters) - The European Union plans to help the countries of the Western Balkans pursue reforms needed for integration with the wealthy bloc with an investment of 6 billion euros ($6.4 billion), the EU executive's president, Ursula von der Leyen, said in Skopje on Monday. North Macedonia, Albania, Kosovo, Serbia, Montenegro and Bosnia and Herzegovina all need to seize the "window of opportunity" for the enlargement of the EU and work to align their standards to those in the bloc, von der Leyen said. Von der Leyen said the EU's new growth plan for the region would include the opening of its common market to the Western Balkan countries in areas such as free movement of goods and services, transport and energy. It also urged the countries to open a common regional market, and pursue it with necessary reforms. "These reforms will come with investment," von der Leyen said during a press conference with North Macedonia Prime Minister Dimitar Kovacevski at the start of her Western Balkans tour.

Persons: Ursula von der Leyen, von der Leyen, Von der Leyen, Dimitar Kovacevski, Daria Sito, Fatos Bytyci, Alison Williams, Ed Osmond, Mark Porter Organizations: European Union, EU, ., North Macedonia, Brussels, Thomson Locations: SARAJEVO, Balkans, Skopje, Macedonia, Albania, Kosovo, Serbia, Montenegro, Bosnia, Herzegovina, Bulgaria, EU, North Macedonia, Pristina

☆ EU to Help Western Balkans Reforms With 6 Billion Euro Package - Von Der Leyen
▼ + stars: | 2023-10-30 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

SARAJEVO (Reuters) - The European Union plans to help the countries of the Western Balkans to pursue reforms needed for integration with the wealthy bloc with 6 billion euros investment, the EU executive's president Ursula von der Leyen said in Skopje on Monday. North Macedonia, Albania, Kosovo, Serbia, Montenegro and Bosnia and Herzegovina all need to seize the "window of opportunity" for the enlargement of the EU and work to align their standards to those in the bloc, von der Leyen said. Von der Leyen said the EU's new growth plan for the region would include the opening of its common market to the Western Balkan countries in areas such as free movement of goods and services, transport and energy. "These reforms will come with investment," von der Leyen said during a news conference with North Macedonia's Prime Minister Dimitar Kovacevski at the start of her Western Balkans tour. "We have proposed a 6 billion euro ($6.34 billion) package for Western Balkan partners," she said.

Persons: Ursula von der Leyen, von der Leyen, Von der Leyen, Dimitar Kovacevski, Daria Sito, Alison Williams, Ed Osmond Organizations: European Union, EU, ., North Macedonia's, Western Balkan, Brussels Locations: SARAJEVO, Balkans, Skopje, Macedonia, Albania, Kosovo, Serbia, Montenegro, Bosnia, Herzegovina, Bulgaria, EU, North Macedonia

☆ Canada bans WeChat, Kaspersky applications on government devices
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOTTAWA, Oct 30 (Reuters) - Canada on Monday banned Chinese messaging application WeChat and Russian antivirus program Kaspersky on government-issued mobile devices due to privacy and security risks, but said government information had not been compromised. WeChat and Kaspersky did not immediately respond to requests for comment. "The decision to remove and block the WeChat and the Kaspersky applications was made to ensure that government of Canada networks and data remain secure and protected and are in line with the approach of our international partners," the statement said. The applications will be removed from government-issued mobile devices on Monday, and users will be blocked from downloading them in the future. Canada in February banned TikTok, the short-video app owned by Chinese company Bytedance, from government-issued devices due to similar privacy and security concerns.

Persons: Dado Ruvic, Kaspersky, TikTok, Ismail Shakil, Yuvraj Malik, Grant McCool Organizations: REUTERS, Rights OTTAWA, HK, Treasury Board of Canada, Treasury, Thomson Locations: Canada, Moscow, Ottawa, Bengaluru

"Public media are paid for with our taxes in order to give citizens access to fair information. And that's particularly important at... election time," said Joanna Krawczyk from the German Marshall Fund, a think-tank. PiS says private media outlets such as Warner Bros' (WBD.O) TVN often distort public debate by representing foreign interests. This perceived bias in public broadcasting has exacerbated political divisions in Polish society. "When she watches TVP, he goes to the kitchen."

Persons: Kacper, TVP, Szalai, RSF, Joanna Krawczyk, KRRiT, PiS, Grzegorz Lewandowski, Donald Tusk, Alan Charlish, Gareth Jones Organizations: Telewizja Polska SA, REUTERS, Sunday Government, WARSAW, Law and Justice, Media, German Marshall Fund, European Union, Civic Coalition, Reuters, Warner Bros, TVN, European Centre for Press, Media Freedom, Thomson Locations: Warsaw, Poland, TVP, Sochaczew, Hungary, Turkey, Russia

☆ US services sector growth slows moderately
▼ + stars: | 2023-10-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The survey's measure of new orders received by services businesses dropped to 51.8, the lowest level since December, from 57.5 in August. PRICES REMAIN ELEVATEDDespite the slowdown in new orders, services businesses continued to face higher prices. A gauge of prices paid by services businesses for inputs was unchanged at 58.9. Some economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation. The ISM's gauge of services sector employment dipped to 53.4 from 54.7 in August, which mostly reflected supply issues.

Persons: Amira Karaoud, Kurt Rankin, tightens, September's, Goldman Sachs, Lucia Mutikani, Paul Simao, Andrea Ricci, Will Dunham Organizations: REUTERS, PMI, Institute for Supply Management, Federal Reserve, PNC Financial, United Auto Workers, Retailers, Treasury, Fed, ADP, Conference Board, Stanford Digital Economy, Labor Department's Bureau of Labor Statistics, Goldman, BLS, Thomson Locations: Louisville, U.S, WASHINGTON, Pittsburgh

☆ EU accession: List of countries to join the bloc
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +5 min

CANDIDATE COUNTRY STATUSTURKEY (candidate since 1999). While still officially a candidate country, Turkey's accession talks with the EU have long been frozen, largely over human rights and governance concerns. It was given the green light for accession talks in 2020 after changing its name from Macedonia to North Macedonia to satisfy Greek sensitivities. The small Balkan country applied for EU membership in 2008. Since 2016, the EU has had a Stabilisation and Association Agreement with Kosovo that serves as a basis for its accession path.

Persons: Viktor Yanukovych, Jan Strupczewski, Mark Heinrich Our Organizations: Union, EU, NORTH, European Commission, Commission, Thomson Locations: BRUSSELS, Granada, TURKEY, NORTH MACEDONIA, Macedonia, North Macedonia, Bulgaria, MONTENEGRO, SERBIA, ALBANIA, EU, Albania, MOLDOVA, Moldova, UKRAINE, Kyiv, Russia, Ukraine, Crimea, BOSNIA, HERZEGOVINA, Bosnia, GEORGIA, Georgia, Tbilisi, KOSOVO, Brussels, Kosovo, Serbia

☆ 28-year-old's side hustle makes $180 an hour, more than doubling his income: How it 'snowballed' into a six-figure salary
▼ + stars: | 2023-09-18 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Carter Osborne's side hustle, advising high schoolers on their college application essays, has more than doubled his income over the last two years, he says. He never dreamed his side hustle, advising high school seniors on their college application essays, would give him a six-figure income. Coming from a family of educators, he'd actually enjoyed his own college application process. Applying to 10 schools — an ambitious but not uncommon number — means writing upwards of 25 essays, Osborne says. At first, the teen was hesitant to include the hobby in his college application, Osborne says.

Persons: Carter, Carter Osborne, Osborne, he'd, He'd, Here's, —, I've Organizations: University of Washington, Seattle, Stanford University, CNBC, National Football League

☆ Italy poised to shake up Treasury with new unit for state-run firms
▼ + stars: | 2023-09-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

The audit court on Thursday approved the decree needed to set up the unit, the sources said, despite making critical observations about some aspects of it. Giorgetti has approached former banker Marcello Sala, currently director for investor relations at the Treasury, to lead the department, they added. Under the reorganisation plan, the influential Treasury department within the ministry led by veteran economist Riccardo Barbieri would be split into two units. The Treasury will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. ($1 = 0.9323 euros)Additional reporting by Valentina Za in Milan Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Sala, Giancarlo Giorgetti, Giorgetti, Marcello Sala, Antonino Turicchi, Dario Scannapieco, Riccardo Barbieri, Valentina Za, Christina Fincher Organizations: Treasury, Economy, ITA Airways, Department, Thomson Locations: ROME, Italy, Siena, Milan

☆ A Summer of Strikes
▼ + stars: | 2023-09-03 | by ( Molly Cook Escobar | Christine Zhang | ) www.nytimes.com time to read: +7 min

A Summer of Strikes Work stoppages in the United States this year could reach heights rarely seen in recent decades. “Those are not just the big strikes that are in the news, but there are many smaller strikes across every industry,” said Kate Bronfenbrenner, a senior lecturer at Cornell University's School of Industrial and Labor Relations. Some, like Dr. Bronfenbrenner, see the resurgence of strikes and union organizing as a lasting trend. Surveys have shown increased public support for unions in recent years, she said, even as private sector union membership remains low. “When you have large strikes that are like waves across the country, they are contagious,” said Dr. Bronfenbrenner.

Persons: Jan, Ed, Ruth, Ronald Reagan, Joseph A, Reagan, McCartin, ”, Kate Bronfenbrenner, Bronfenbrenner Organizations: SAG, Verizon, General Motors, Railway, The New York Times, Hollywood, United Parcel Service, United Auto Workers, Ford Motor, City University of New York’s Graduate Center and School of Labor, Urban Studies, Gallup, Georgetown University, “, Union, Mining, Arts, Retail, Public, Agriculture, Cornell University’s School of Industrial and Labor Relations, Cornell University's School of Industrial and Labor Relations Locations: United States, McCartin, walkouts

☆ 28-year-old's side hustle makes up to $113,500 per year—and it only costs $50 to start
▼ + stars: | 2023-08-30 | by ( Megan Sauer | ) www.cnbc.com time to read: +6 min

It was 2017 and Osborne realized he could get paid to advise high school seniors on their college admissions essays. He went back to that mentor for help getting the side hustle off the ground. The upside: The side hustle costs almost nothing to start, he says. Here, Osborne details how he started and maintains his six-figure side hustle:CNBC Make It: Do you think your side hustle is replicable? How do you help students improve their essays without making it yours?

Persons: they've, Carter Osborne, Osborne, There's, you've, who's, I'm, I'd, Warren Buffett Organizations: CNBC, Stanford University Locations: Seattle , Washington

☆ Factbox: What you need to know about Niger's ousted president
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +3 min

[1/2] Niger's President Mohamed Bazoum participates in a Peace, Security and Governance Forum during the U.S.-Africa Leaders Summit 2022 in Washington, U.S., December 13, 2022. REUTERS/Evelyn Hockstein/PoolAug 14 (Reuters) - Niger's ousted president Mohamed Bazoum was toppled by a military junta on July 26. Bazoum's victory in the 2021 election led to Niger's first transition from one democratically elected leader to another. Niger strengthened its alliances with Western powers under Bazoum, becoming a hub for French, U.S., German and Italian forces. Days before Bazoum was sworn in as president in 2021, a military unit tried to seize the presidential palace in an attempted coup.

Persons: Mohamed Bazoum, Evelyn Hockstein, Niger's, Bazoum, Mahamadou Issoufou, Abdourahamane Tiani, Alessandra Prentice, Angus MacSwan Organizations: Security, Governance, Africa, REUTERS, Islamic, Nigerien, International Crisis, West, United Nations, Thomson Locations: U.S, Washington , U.S, France, Niger, Mali, Burkina Faso, al Qaeda, Islamic State, Nigeria, West Africa's, United States

☆ Premarket stocks: Does it matter whether the Federal Reserve hikes or pauses rates in September?
▼ + stars: | 2023-08-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —After the Federal Reserve raised interest rates in July to the highest level in 22 years, Wall Street’s focus is on whether September will bring another rate hike. But does it really matter whether the Fed raises or pauses rates next month? Before the Bell: Does it matter whether the Fed raises rates in September by another quarter point or holds steady instead? And, that earnings can grow even in an environment where interest rates are back to levels that they have been in for the past couple of decades. Year-over-year comparisons should improve, but I think investors want to see that.

Persons: Bell, Ed Yardeni, they’ve, Moody’s, they’re, We’ve, Fitch, CNN’s Kathleen Magramo, Women Jan Tinetti, Tinetti, Read, CNN’s Olesya Dmitracova, Darren Morgan, ”, Jonathan Moyes Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Employers, Traders, Yardeni, Women, Labour, Organisation for Economic Co, Development, Gross, National Statistics, Wealth Locations: New York, New Zealand

This account of how Niger's coup unfolded is based on 15 interviews with Nigerien security officials, politicians, as well as current and former Western government officials. In his first address following the July 26 coup, Tiani said he had ousted the president for the good of the country. But in recent months, Bazoum had curtailed the size of the presidential guard, which was about 700-strong at the time of the coup, and started to scrutinize its budget. Issoufou was elected in 2011, a year after a previous military coup. Almost all the different branches of Niger's security apparatus had a member in the group, including the police, army, air force and presidential guard.

Persons: Emmanuel Macron, Mahamadou Issoufou, Regis, Mohamed Bazoum, Bazoum, Abdourahamane Tiani, Tiani, Keen, Issoufou, Spokespeople, swirled, Salifou Mody, Mody, Hassoumi Massaoudou, Amadou Abdramane, Ahmad Sidien, Moussa Aksar, David Lewis, David Gauthier, Michel Rose, Edward McAllister, Alexandra Zavis, David Clarke Organizations: Niger, REUTERS, Nigerien, Reuters, West African States, Reuters Graphics Reuters, Western, Niger Armed Forces, United Arab Emirates, National Guard, Thomson Locations: Sahel, French, Pau, France, NIAMEY, United States, Niamey, Diffa, Niger, Mali, Burkina Faso, Russia, West Africa, Tiani, Nairobi, Villars, Istanbul, Paris, Dakar

"We had to wait two weeks," said Lee Bo-mi, a 35-year-old mother with a sick 3-year-old boy, at the Healthy Children's Hospital. By comparison, it costs about A$335 for initial standard consultation with an Australian paediatrician, while observation at Nationwide Children's Hospital in the U.S. costs $208 per hour, according to its website. Data from the Health Insurance Review and Assessment Service shows paediatricians are South Korea's lowest paid doctors, making 57% less than the average doctor's salary. Sowha Hospital, South Korea's oldest children's hospital, recently suspended Saturday afternoon and Sunday treatment for the first time in 77 years due to a lack of staff. "If the number of children's hospitals decreases and the number of doctors falls, it's going to be difficult to get children treated."

Persons: Song Jong, geun, Jung Seung, Kim Hong, Ji, paediatrics, Lee Bo, Dae, it's, Choi Yong, jae, Dr Lim Hyun, I'm, Kim Eun, Lee Ju, yul, there's, Lee, Lim, Joyce Lee, Robert Birsel Organizations: REUTERS, Seoul Institute, Reuters, The, of Health, Welfare, Children's, Korea University Guro Hospital, Korea Children's Hospital, Korean Pediatric Association, Nationwide Children's Hospital, Health Insurance, Service, Namseoul University, Thomson Locations: Seoul, South Korea, Ji SEOUL, Seoul's, Korea, Australian, U.S

☆ Canada's economy unchanged in April, but likely surged 0.4% in May
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, June 30 (Reuters) - The Canadian economy was unchanged in April from March, missing forecasts, before likely rebounding with a 0.4% jump in real gross domestic product in May, Statistics Canada said on Friday. March GDP was upwardly revised to 0.1% growth from an initial report of flat growth. Canada's goods-producing sector expanded 0.1% in April, but were offset by a slight decline in the service-producing sector. The mining, quarrying, and oil and gas extraction sector and the utilities sector are expected to be post declines in May. Declines in wholesale trade as well as finance and insurance also contributed to the softness in the services sector.

Persons: Statscan, Ismail Shakil, Dale Smith Organizations: OTTAWA, Statistics, Reuters, Bank of Canada, Public Service Alliance of Canada, Thomson Locations: Statistics Canada, Ottawa

OTTAWA, June 30 (Reuters) - Canada's economy regained momentum in May after stalling in April, Statistics Canada data showed on Friday, leaving the door open for the Bank of Canada to hike interest rates in July. The economy was unchanged in April from March, missing forecasts, in what economists said was the fallout from a federal civil servant strike in April. Canada's goods-producing sector expanded 0.1% in April, but were offset by a slight decline in the service-producing sector. Figueiredo expects the central bank to raise interest rate by another 0.25% in July. Money markets see a roughly 61% chance of the central bank hiking rates in July.

Persons: Statscan, it's, Doug Porter, Desjardins, Tiago Figueiredo, Figueiredo, Ismail Shakil, Nivedita Balu, Dale Smith, Jonathan Oatis, Philippa Fletcher Organizations: OTTAWA, Statistics, Bank of Canada, Reuters, BMO Capital Markets, Public Service Alliance of Canada, Toronto Stock, Canadian, Thomson Locations: Statistics Canada, Ottawa, Toronto

Georgetown University in Washington, D.C. Not everyone with debt would have been covered under the Biden administration’s student loan forgiveness plan. The Supreme Court has barred the Biden administration from carrying out its plan to extinguish up to $20,000 in federal student loan debt, and millions of borrowers will continue to struggle under the weight of their loans. Ms. Schmidt owes $64,000 in student debt, more than half of which is for her graduate work in nursing. But she’s already contemplating how she’ll finance her dream of becoming a civil rights lawyer, which typically requires an additional six figures in student debt. Yet her mother is still paying down student debt of her own.

Persons: Biden, Gina McDavitt, weren’t, Pell, “, ”, McDavitt, ” Ms, Ms, Monica Schmidt, Schmidt, Kevin Serna, Dorien Rogers, Rogers, Asha Anthony, she’s, —, Anthony, Mr, don’t, Joanna Leiserson, Brian Kaiser, “ I’m, Leiserson Organizations: Georgetown University, Biden, College of San, San Francisco State University, The New York Times, University of Phoenix, Northern Illinois University, Public, Schaun, Tax, Howard University, Salisbury University, The New York, Republicans Locations: Washington ,, College of San Mateo, Bay, Vallejo , Calif, Genoa, Ill, Germantown, Md, Credit, Montgomery County, Mesa, Maryland, Spokane, —, forbearance

☆ Meet the typical South Korean millennial: educated, overqualified for the job market, and part of the 'kangaroo tribe' that can't afford to leave their parents' homes
▼ + stars: | 2023-06-12 | by ( Matthew Loh | Reena Koh | ) www.businessinsider.com time to read: +2 min

Kwon, 28, swam for his varsity team at Yonsei University, one of South Korea's top colleges. But like most young and unmarried South Koreans, he lives with his parents, and despite earning more than the national average, he won't even consider buying his own home for the next 10 years. Kwon and Hong belong to Generation MZ, a collective term for South Korea's millennials and Gen Zers, who often get grouped together for their digital fluency and outlook on life. Generation MZ — anyone born between 1980 and 2005 — accounts for almost a third of the country's population of around 52 million people. Insider spoke with five South Koreans of Generation MZ, as well as finance and generational experts, to gain a better understanding of the generation.

Persons: Kwon Joonyeop, Kwon, Kwon Joon, yeop Kwon, Hong Seo, yoon, She's, Hong, she's, Korea's millennials, Gen Zers Organizations: Yonsei University, South Koreans, Seoul National University, Korean Broadcasting System, Korea's Locations: Korea's, Gangnam, glitzy, Seoul, Korea, Seoul —

Economists expect such examples to become increasingly common in coming years, as a glut of university graduates and a shortage of factory labour due to an ageing workforce deepen China's job market imbalances. The industries most popular among fresh Chinese graduates, such as tech, education, real estate and finance, have all faced regulatory crackdowns in recent years. Reuters Graphics'ROLL UP YOUR SLEEVES'It is unclear exactly how many graduates are taking jobs below their skill level, but state media has acknowledged the trend. President Xi Jinping repeatedly exhorted young people to "seek hardships" in a recent state media article emphasising his suffering during the Cultural Revolution. China's education and human resources ministries did not immediately respond to requests for comment.

Persons: Thomas Peter, Liang Huaxiao, Liang, Keyu Jin, Xi Jinping, today's, Chim Lee, Jobs, Han Zhaoxue, master's, Wang, Laurie Chen, Marius Zaharia Organizations: REUTERS, Economist Intelligence Unit, Thomson Locations: Beijing, China, BEIJING, Taiyuan, Shanghai, Jining

☆ Kremlin-funded university that trains Russia’s future leaders is firing all staff living outside Russia, in another sign of Putin crackdown: report
▼ + stars: | 2023-05-19 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Russia's top university for public officials is firing all its employees living abroad, per a report. RANEPA is known as Russia's breeding ground for future ministers, civil servants, and governors. The move comes amid Russia's ongoing crackdown on public dissent, which has ramped up since the invasion of Ukraine in February 2022. RANEPA is known as one of the top destinations for Russia's public servants and administrative class, churning out future regional governors, civil servants, and ministers. The UK Ministry of Defence also commented on a likely ban on senior Russian officials quitting their posts on Thursday.

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