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☆ ‘Two sessions’: China’s key political gathering gets underway as leaders try to repair broken economic confidence
▼ + stars: | 2024-03-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Xi is under the spotlight as economic pain has sparked growing frustration within China. Xi has also overseen a political shakeup in his own ranks, further marring the start of the new term. Those challenges may not pose a threat to Xi, who is China’s most powerful and authoritative leader in decades. But the two sessions provide an important platform for China’s notoriously opaque government to broadcast its strategy for economic, social and foreign policies and announce key indicators including China’s economic growth target, its budget deficit limit and military spending for the coming year. Analysts widely expect Li to reveal a relatively ambitious growth target of “around 5%,” showing that policymakers are still focused on economic growth, even as challenges pile up.

Persons: —, Xi Jinping, Xi, ”, Chen Gang, Li Qiang, It’s, Xuezhi Guo, Guo, Wang Yi, Qin Gang, Li Shangfu, Li, Qin, Pedro Pardo, Neil Thomas, Premier Li, Asia Society’s Thomas, “ Organizations: Beijing CNN —, Communist, National University of Singapore’s East Asian Institute, Getty, of, National People’s, Guilford College, Observers, Washington, Asia Society, Center for Locations: China, Beijing, Chongqing, AFP, Taiwan, China's, Henan, Center for China, Asia

☆ Mortgage rates surge higher again, causing homebuyers to pull back
▼ + stars: | 2024-02-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After a brief reprieve in December and January, mortgage rates are moving higher again, and that is taking its toll on mortgage demand. Total mortgage application volume fell 2.3% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "That's because mortgage rates are climbing again and winter weather has been harsher than usual in much of the country, keeping some house hunters at home." Mortgage rates surged even higher Tuesday after a government report on inflation showed it was still stubbornly higher than expected. "The bond market (which underlies mortgage rates) reacted immediately and forcefully when the numbers came out.

Persons: Joel Kan, Chen Zhao, Bonds, Matthew Graham Organizations: Mortgage, Mortgage News Locations: Pico Rivera , California, Redfin

[1/6] A man sings for customers touring the Erhai lake on a sightseeing bus, in Dali, Yunnan province, China November 10, 2023. Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Florence Lo, DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: REUTERS, Geneva Graduate Institute, Reuters, Communist Party, Thomson Locations: Dali, Yunnan province, China, China's, Israel, Gaza, Yunnan, Beijing

☆ Chasing a Different China Dream, Young Digital Nomads Head for the Hills
▼ + stars: | 2023-11-23 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. "We are more low-key and don't emphasise digital nomads in our marketing anymore," one co-working space staffer told Reuters, adding that conservative local governments in rural towns like Dali are "cautious of emerging technologies". Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Laurie Chen DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: Geneva Graduate Institute, Reuters, Communist Party Locations: China, China's, Israel, Gaza, Dali, Yunnan, Beijing

☆ A Silicon Valley tech investor's wedding at a famous Utah landmark left the site completely trashed, council member says
▼ + stars: | 2023-11-15 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

A Silicon Valley investor's wedding at a natural Utah landmark was larger than he initially let on. The Bureau of Land Management eventually had to clean up leftover trash and abandoned property. AdvertisementGibson wrote a letter to the Bureau of Land Management asking about the event and sharing her photos. But rangers with the agency eventually had to collect "abandoned property and refuse," according to the outlet, which cited the land management email. Gibson and other town officials are now asking the Bureau of Land Management to keep such receptions from happening in the future.

Persons: Andrew Chen, —, Pamela Gibson, Emma Waldron, SFGate, Chen, Andreessen Horowitz, Gibson, Jazmine Duncan, Waldron Organizations: Land Management, Service, Labor, Miss, Valley, Twitter, of Land Management, Business Locations: Utah, Castle Valley, Castleton, Moab , Utah, Castle

Liu got the librarian job after a government-led campaign to secure temporary work for graduates, which analysts describe as a short-term solution to preserve social stability in a slowing economy with little on offer for young Chinese. Such "welfare jobs," as they are known in China, include roles as receptionists, office administrators, security guards and community workers. Various government institutions offer such jobs every year, but they had usually drawn applications from disadvantaged groups, such as elderly or disabled people. But state media editorials have also encouraged young graduates to take lower skilled jobs. Reuters GraphicsThe total take-up of short-term jobs and internships remains unknown, but social media posts commenting on the selection process and discussing career options are frequent and analysts expect such roles will be in demand in a slowing economy.

Persons: Peter Liu, Liu, Wang Jun, joblessness, Mao Zedong, Chen, Graphics Liu, Kripa Jayaram, Ellen Zhang, Shri Navaratnam Organizations: Reuters, Human Resources, Social Security, Huatai Asset Management, Graphics, Beijing, Thomson Locations: BEIJING, HONG KONG, Beijing, Henan, China, Chongqing

CNN —The Chinese government has built up the world’s largest known online disinformation operation and is using it to harass US residents, politicians, and businesses—at times threatening its targets with violence, a CNN review of court documents and public disclosures by social media companies has found. Victims face a barrage of tens of thousands of social media posts that call them traitors, dogs, and racist and homophobic slurs. While tech and social media companies have shut down thousands of accounts targeting these victims, they’re outpaced by a slew of new accounts emerging virtually every day. As part of a mission “to manipulate public perceptions of [China], the Group uses its misattributed social media accounts to threaten, harass and intimidate specific victims,” the complaint states. In the past, the Spamouflage network mostly focused on issues domestically relevant to China.

Persons: –, Xi Jinping, Biden, Mike Gallagher, Chen Pokong, ”, Chen, “, Spamouflage’s, Liu Pengyu, ” Liu, Jiayang, Darren Linvill, hasn’t, Fan, Communist Party playbook, Mandiant, Nancy Pelosi, ” Ben Nimmo, George Floyd’s, Ben Nimmo, Lindsay Gorman, Gorman, ” Linvill, Linvill, Spamouflage, Jiajun Qiu, Qiu, ” Qiu Organizations: CNN, US State Department, FBI, Communist Party, Meta, Google, ”, CCP, US Department of Justice, Department, DOJ, China’s Ministry of Public Security, Group, New Yorker, telltale, Media, Clemson University, Capitol, Department of Homeland Security, Marshall Fund’s Alliance, Securing Democracy, YouTube Locations: United States, Beijing, San Francisco, China “, New York, China, New York City, America, Washington, Hong Kong, US, Texas, Virginia, Manassas , Virginia

☆ Generative AI still mostly experimental, say executives
▼ + stars: | 2023-11-09 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 9 (Reuters) - One year after the debut of ChatGPT created a global sensation, leaders of business, government and civil society said at the Reuters NEXT conference in New York that generative AI technology is still mostly in an experimental stage, with limited exceptions. Aguirre cited self-driving cars as an example of a technology struggling to make the transition to full deployment. “I’ve observed many generative AI applications that are in production while other customers are just beginning their journey.”One way generative AI was already being deployed widely, highlighted by speakers across industries, was to write computer code. Gary Marcus, a professor at New York University, said generative AI was error-prone in coding just like in other areas, but that the problem was less of a hindrance in the tech sector because programmers knew how to troubleshoot it. Companies should move slowly and deliberately when integrating the technology into uses where accuracy matters, executives emphasized.

Persons: ChatGPT, What's, Anthony Aguirre, Aguirre, Sherry Marcus, I’ve, Lili Cheng, Copilot, Cheng, Gary Marcus, Marcus, Cisco's Vijoy Pandey, Pandey, Katie Paul, David Gregorio Our Organizations: Reuters NEXT, Life Institute, Microsoft Corporate, Reuters, New York University, Thomson Locations: New York

☆ The CEO of a Chinese tech giant has been unreachable after making his last public appearance in August: Chinese media reports
▼ + stars: | 2023-11-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Chen Shaojie, the CEO of Chinese streaming platform DouYu, has been missing for weeks, reports indicate. A DouYu spokesperson told CNN that "business operations remain normal." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe CEO of DouYu, a Tencent-backed live-streaming platform, has been uncontactable for weeks, according to reports from several media outlets. State-owned Cover News, citing unconfirmed reports, first reported on Monday that CEO Chen Shaojie, 39, is being investigated by authorities and has been unreachable for three weeks.

Persons: Chen Shaojie, Chen, —, DouYu, Jack Ma, Bao Fan, Bao, Hui Ka Yan, China Evergrande, Hui Organizations: CNN, Service, Financial Times Locations: State, China, People's Republic of China

☆ Anticipating premature births as crisis deeps, this nonprofit is racing to get its portable incubators into Israel and Gaza
▼ + stars: | 2023-10-25 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +11 min

The Embrace incubator resembles a sleeping bag, but for a baby. Seen here is a nurse at Sumy Perinatal center secures an infant into an Embrace incubator. Not just warsDr. Leah Seaman has been using Embrace incubators for three years in Zambia. Ambulance midwives after being trained in how to use the Embrace incubators at the Kapiri Mposhi District Hospital in Zambia in 2022. “Last year we had 800 babies through the ward and maybe half of them used the Embrace incubator,” said Seaman.

Persons: Jane Chen, Chen, that’s, It’s, ”, She’s, Veronica Gillispie, Bell, Halyna, ” Masiura, “, Khan Younis, Mohammed Salem, “ We’re, Said Chen, Linus Liang, –, Sudhanva Atri, Liang, Leah Seaman, Seaman, Leah Seaman “, we’ve, haven’t, We’ve, ” Seaman Organizations: New, CNN, Embrace, UN Population Fund, UNICEF, Ochsner Health, Healthcare, Embrace Global, Israel Defense Forces, Reuters, Stanford University, Global Locations: Israel, Gaza, San Francisco , California, Ukraine, Russia, Turkey, Syria, New Orleans , Louisiana, Odesa, Sumy Regional, Northeastern Ukraine, Sumy, Palestinian, Karnataka, India, Asia, Africa, Zambia, Mposhi, Central Province

☆ Banks in Japan are primed to do well going forward. What's driving them and how to play the trend
▼ + stars: | 2023-10-24 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

One place in the world stands as a beacon for investors in bank stocks: Japan. Japanese banks have outperformed in a year when U.S. banks have come under pressure both from rapidly rising interest rates and the regional banking crisis last spring. "We've been bullish on Japanese banks for a long time," said Chen Zhao, chief global strategist at Alpine Macro. Part of what's driving the bull case for Japanese banks is the country's yield curve. While the U.S. and other developed economies contend with an inverted yield curve that's weighing on financial profit margins, Japan continues to have a positive yield curve.

Persons: We've, Chen Zhao, Zhao, JPMorgan's Marko Kolanovic, Japan's, Kolanovic, — CNBC's Michael Bloom Organizations: JPMorgan, Regional Banking, Treasury, Japan Post Bank, Chiba Bank, JPMorgan BetaBuilders Japan, Resona Holdings Locations: Japan, U.S, EWJ

But Curtis Chin's parents urged their six kids to ask customers at their Chinese restaurant about their background. Recent hate crimes have evoked comparisons to Vincent Chin's beating death at the hands of two white autoworkers outside his bachelor party. Curtis Chin's uncle was Vincent Chin's best man. Asian American and Pacific Islander groups are behind several upcoming events. “I just can’t impress upon it enough how much I feel like my whole community is rallying behind me for this book,” Chin said.

Persons: Curtis Chin's, —, Chin, “, ”, “ Vincent Who, Vincent Chin, Curtis Chin, it's, ” Chin, Chung's, ” Roland Hwang, Vincent Chin's, Hwang, there’s, George Floyd's, I’ve, Lily Chen, Curtis, Chen, we've, it’s, ___ Tang Organizations: Detroit, Asian American Writers ’, The Washington Post, The, American Citizens, Justice, Detroit Historical Museum, ”, Pacific, Associated Press Locations: Los Angeles, The, Detroit, Chinatown, Detroit's, Cass, The Cass, That's, ”, Asian American, Phoenix, @ttangAP

[1/8] Asian Games - Hangzhou 2022 - Closing Ceremony - Hangzhou Olympic Sports Centre Stadium, Hangzhou, China - October 8, 2023 A view of the handover ceremony at the closing ceremony REUTERS/Marko Djurica Acquire Licensing RightsHANGZHOU, China, Oct 8 (Reuters) - China's eastern city of Hangzhou rounded off the 19th Asian Games on Sunday with a colourful and "joy"-themed closing ceremony after hosting the continental sporting extravaganza which organisers hailed as "one of the finest" ever. Taking place amid tight security the less-than two hour ceremony also included a handover to the hosts of the next Asian Games in 2026, the Japanese city Nagoya. The hosts' 201st gold left them two better than their previous best of 199 at the 2010 Guangzhou Asian Games. Organisers said 12,407 athletes from 45 nations competed in 40 sports at the Hangzhou Games, which were delayed for a year due to COVID-19. "We have hosted the most successful Asian Games in history" said Chen Weiqiang, Executive Secretary General of the Hangzhou Asian Games Organising Committee and vice-mayor of Hangzhou.

Persons: Marko Djurica, Li Qiang, jigged, Takashi Kawamura, Randhir Singh, Gu Shiau, Kazakhstan's Moldir, Chen Weiqiang, WADA, Martin Quin Pollard, Ian Ransom, Christian Schmollinger, Toby Chopra, Christian Radnedge Organizations: Hangzhou Olympic Sports Centre, Rights, Games, Nagoya, Mainichi, Olympic Council of Asia, energised, Bangkok Games, Hangzhou Games, Hangzhou Asian Games, Doping Agency, Olympic, Paralympic Games, Olympic Council of, OCA Locations: Hangzhou, China, Rights HANGZHOU, Nagoya, Nanjing, Aichi, Guangzhou, Jakarta, Japan, Macau, North, Korea, Olympic Council of Asia

☆ South Korea breakdancing: Korean b-boys eye Asian Games and Olympic gold
▼ + stars: | 2023-10-05 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

South Korean breakdancing team Jinjo Crew at the World K-pop Concert in 2021. Jeon Jiye, or b-girl Fresh Bella, will feature for the South Korean delegation at the Asian Games. The veteran, from the legendary Jinjo Crew, is a multiple world champion and Asian Games gold medal contender. There is added motivation after the country’s emphatic success in fellow Asian Games debutant, esports. “At the Asian Games, we will see all of this.

Persons: John Jay Chon, Breakdancing, Seo, –, United States –, Ronald Reagan’s, Han Myung, breakdancing, “, ”, Jeon Jiye, Fresh Bella, Jiang Han, Kim Heon, Korea’s, Kim, esports, We’ve, ” Kim, ” Kim Heonwoo, ’, Kwon Jang, Kwon, ” Kwon, we’re, We’re, Chen Po Chun, Chen Organizations: Hong Kong CNN, Korean, South, Asian, Summer, South Korean, World, Games, CNN, Getty, Asian Games, “ Locations: Hong Kong, Korea’s, Korean, American, South Korea, United States, Korea, Hangzhou, China, Paris, Bronx, Xinhua, South, Seoul, United Kingdom, Asia, Japan, somebodies

HONG KONG (AP) — Police in Hong Kong and Macao said Friday they arrested four more people linked to the cryptocurrency platform JPEX, which is suspected to have defrauded more than 2,400 people of almost $200 million. Police have received 2,417 reports involving more than 1.5 billion Hong Kong dollars ($191.6 million) in alleged losses on the platform. Hong Kong police said in a news conference Friday they had arrested two men, one of whom had been trying to destroy documents with paper shredders and bleach. Cash and gold worth nearly $9 million Hong Kong dollars ($1.15 million) were also seized at three apartments in the latest police operation. Two other men were detained in Macao, with authorities seizing over 14 million Hong Kong dollars ($1.8 million) in cash and valuables, as well as money in a casino account.

Persons: Chung, ”, Cheng Lai, “, influencers, JPEX Organizations: — Police, Police, Hong Kong, Cyber Security, Technology, Hong Kong’s Securities, Futures Commission Locations: HONG KONG, Hong Kong, Macao, Hong, JPEX

[1/4] Couples prepare to get their photo taken during a wedding photography shoot on a street, in Shanghai, China September 6, 2023. "The traditional Chinese wedding industry is probably in for tough times." "People are more inclined to go for a simple and niche wedding," said Chen, adding that a decade ago, it was common for couples to spend millions of yuan. 'NICHE, NICHE, NICHE'The economic downturn has hit the middle class, and the youth, the hardest, resulting in high jobless rates and low household spending. Our strategy has been to stay niche, niche, niche," said Wang.

Persons: Aly, Yuan Jialiang, Ben Cavender, Frank Chen, Chen Feng, Chen, Chow Tai Fook, It's, Xueyi, Jewel Wang, Vera Wang, Wang, Oscar de la, Carolina Herrera, Casey Hall, Xihao Jiang, Farah, Marius Zaharia Organizations: REUTERS, Rights, China Market Research, Daxue Consulting, COVID, Jewellery, HK, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONG KONG, Xi'an, Hong Kong

☆ Chipmaker Taiwan seeks other EU trade deals given investment agreement 'a long shot'
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Taiwan has repeatedly called for progress on a Bilateral Investment Agreement (BIA) with the EU. The EU included Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, but has not held talks with Taiwan on the issue since. "In that regard of course we have long been promoting a bilateral investment agreement between the EU and Taiwan. However, we know that's a long shot," said Chen, who visited the European Commission in June. Taiwan Semiconductor Manufacturing Corp (2330.TW), the world's largest contract chipmaker, announced last month a 3.5 billion euro ($3.75 billion) investment in Germany for the company's first factory in Europe.

Persons: Chen Chern, chyi, Chen, Filip Grzegorzewski, Tsai Ing, Ben Blanchard, Gerry Doyle Organizations: European Union, EU, European, European Commission, Taiwan Semiconductor Manufacturing Corp, chipmaker, BIA, Trade Organisation, Thomson Locations: TAIPEI, Taiwan, Europe, Asia, EU, Germany

☆ China's auto workers bear the brunt of price war as fallout widens
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Millions of auto workers and suppliers in China are feeling the heat as an electric vehicle price war forces carmakers to shave costs anywhere they can. State-run China Automotive News estimates there are over 100,000 auto suppliers in the country. Suppliers typically negotiate prices once a year, but many have been pressed to lower prices on a quarterly basis in 2023, two senior executives at auto suppliers said. And in June, a group of small suppliers wrote to state-owned Changan Automobile to push back against 10% price reductions. Three months later, he told Reuters that price cuts had been more aggressive in 2023 than in previous years.

Persons: Aly, Mike Chen, Chen, carmakers, Tesla, George Magnus, Elon Musk, Mike Chen's, Li Auto, Liu, Changan Automobile's, Chen Yudong, They've, Zhang Yan, Brenda Goh, Kripa Jayaram, Marius Zaharia, David Clarke Organizations: SAIC Volkswagen, REUTERS, Rights, Shanghai, SAIC, Volkswagen, VW, Oxford University's China, China Passenger Car Association, Tesla, GM, HK, Changan Automobile, Mitsubishi Motors, Toyota, Hyundai, China Automotive, Automobile, EV, Reuters, Thomson Locations: Shanghai, China, China's, Beijing, Shenzhen, Hefei, Chongqing, Chery's, Qingdao

People represent different countries during seminars on conflict scenarios with China, organised for youth by the Kuomintang (KMT) party, in Taipei, Taiwan May 21, 2023. Younger voters are again playing a role - but this time they are gravitating to dark horse candidate who has become the DPP's closest challenger. Ko Wen-je, a 64-year-old former Taipei mayor, has won over many younger voters with plain talk on issues such as high housing costs rather than focusing on the China threat. Some younger voters may show their hands late, so Ko's appeal to that demographic could close the gap with Lai. Although it may have a healthy lead in opinion polls, the DPP is acutely aware of the dangers of losing younger voters.

Persons: Ann Wang, Tsai Ing, William Lai, Ko Wen, Ko, Lai, Terry Guo, Chen Kuang, Chen, Hou Yu, Mao Zedong's, Ho Chih, yung, Ho, Zheng De, Zheng, Sarah Wu, Yimou Lee, Ben Blanchard, John Geddie, Gerry Doyle Organizations: Kuomintang, KMT, REUTERS, Rights, United States, Democratic Progressive Party, Taiwan People's Party, Taiwanese Public, DPP, Apple, Chung Cheng, Taiwan's, ih, Reuters, Thomson Locations: China, Taipei, Taiwan, Rights TAIPEI, Beijing, United, Hong Kong, Lai, Chung Cheng University

China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. China has previously said its overseas recruitment through the TTP aimed to build an innovation-driven economy and promote talent mobility, while respecting intellectual property rights, according to the state-run Xinhua news agency. It said that anyone who recommends a candidate who is then selected for the talent programs would receive "diamonds, bags, cars, and houses". In some cases, these people said, those experts will be offered roles at Chinese chip companies' overseas operations. ($1 = 7.1475 Chinese yuan renminbi)Reporting by Julie Zhu, Fanny Potkin, Eduardo Baptista and Michael Martina; editing by David CrawshawOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Xi Jinping, Qiming, Dean Boyd, Nick Marro, Chen Biaohua, Chen, Ma Yuanxiao, Dawei Di, Di, Zhuji, Julie Zhu, Fanny Potkin, Eduardo Baptista, Michael Martina, David Crawshaw Organizations: REUTERS, Washington, Reuters, China, Ministry of Industry, Information Technology, U.S . Commerce Department, Xinhua, Ministry of Science, Technology, U.S, government's National Counterintelligence and Security Center, Economist Intelligence, China Center for Information Industry Development, China Semiconductor Industry Association, Qiming, Massachusetts Institute of Technology, Harvard, Stanford, HK, LinkedIn, Hangzhou Juqi Technology, Fortune, Beijing Institute of Technology, BIT's School of Integrated Circuits, Electronics, Britain's University of Nottingham, University of Hong, BIT, Communist Party's Organization Department, Zhejiang University, Communist Party, Thomson Locations: China, HONG KONG, SINGAPORE, WASHINGTON, U.S, China's, Qiming, Beijing, Hangzhou, ResearchGate, University of Hong Kong, Ma, Zhejiang, Wenzhou, Cambridge

☆ Has climate change made utilities a risky bet? What income investors need to know
▼ + stars: | 2023-08-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

The wildfires in Maui are just the latest example of severe weather and the peril facing utilities. However, investors can pick up about 4% yield on stocks that have dividends that are considered safe, which makes them attractive to investors seeking income. Climate change's impact Climate change is altering not only the Earth's temperature, but also precipitation patterns, said Zachary Zobel, risk associate director at Woodwell Climate Research Center. Climate change could impact utilities in other areas, like sustaining damage during hurricanes and floods. "You don't have to just rely on just one sector to get dividend income," said Cheng.

Persons: hasn't, Michael Lonegan, Neil Kalton, Kalton, Zachary Zobel, Zobel, Berkshire Hathaway, PacificCorp, Wells Fargo's Kalton, it's, Marguerita Cheng, Cheng, — CNBC's Michael Bloom Organizations: Hawaiian Electric, Maui Electric, Electric, NBC News, Evercore ISI, Wall Street, Wells, Wells Fargo Securities, FEMA, Woodwell Climate Research Center, Gas & Electric, Blue, Global, CNBC, & $ Locations: Maui, Lahaina, Wells Fargo, California, Berkshire

☆ Years after #MeToo first swept the world, Taiwan races to respond
▼ + stars: | 2023-07-28 | by ( Sarah Wu | ) www.reuters.com time to read: +5 min

TAIPEI, July 28 (Reuters) - Six years after the #MeToo movement rose to global prominence and toppled powerful perpetrators of sexual abuse, Taiwan is racing to reform laws and provide training and support as it reckons with its own wave of complaints. The drama mirrored reality two months ago when an allegation of sexual abuse surfaced that was linked to Taiwan's ruling party. Her criticism of the then-head of the Democratic Progressive Party's women's affairs department for dismissing her complaint went viral. COMPANIES RESPOND TOOBusinesses are also responding by investigating complaints and training staff in preventing abuse. Hsieh said he hoped exposure to the movement at a young age would help his daughters develop a sense of equality.

Persons: Lai Pei, Lai, Chen Chien, jou, Tsai Ing, Chen Chao, Lee Yen, jong, Lee, Peng Yen, Liu Jung, jen, Liu, Yu Mei, Yu, Johnson Hsieh, Hsieh, Sarah Wu, John Geddie, Robert Birsel Organizations: Netflix, Facebook, Democratic Progressive, National Taiwan University, Women's Foundation, Reuters, Taiwan Bar Association, Thomson Locations: TAIPEI, Taiwan, Asia, Taipei

☆ Alipay and WeChat Pay now accept Visa and Mastercard for all payments in China
▼ + stars: | 2023-07-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The move marks a revival of efforts by Alipay and WeChat Pay to accept foreign credit cards after they provided some limited access in late 2019. WeChat Pay is officially known as Weixin Pay in China. Alipay and WeChat Pay are dominant in digital payment services, accounting for a combined 91% market share. In 2019, Alipay and WeChat started allowing the use of foreign credit cards on their apps as Chinese regulators eased restrictions. A week later, an executive from Tencent said at a forum that the company would open wider its WeChat Pay system to international card organizations, such as Visa, starting in July.

Persons: Alipay, WeChat, ” Dennis Chang, Tencent, ”, Chen Qiru Organizations: Hong Kong CNN —, Mastercard, Ant Group, Visa, Club, Discover, World, Hangzhou, Alibaba, JCB, Greater China, “, Tencent Financial Technology, ”, People’s Bank of Locations: Hong Kong, China, Beijing, Chengdu, Hangzhou, Tianjin, People’s Bank of China

☆ Barbie is all the buzz this summer — and retailers hope it will make cautious consumers spend
▼ + stars: | 2023-07-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Bloomingdale's is just one of the retailers and brands trying to tap into Barbie buzz. With a splash of hot pink, retailers hope to chase away the summer doldrums and inflation blues. About half of Aldo's Barbie collection sold out in the first week. So far, the Barbie merchandise is "selling incredibly well" and appealing to customers across generations, said Frank Berman, the department store's chief marketing officer. Gap has sold out of some of its popular Barbie items, including rectangular pink sunglasses.

Persons: Bloomingdale's, Barbie, Aldo, Brand, Daianara Grullon Amalfitano, Aldo's, Aldo Macy's, Frank Berman, Berman, it's, Ken, Circana, Margot Robbie's, Oliver Chen, Cowen, Chen, Susan Fournier, Barbie isn't, Fournier Organizations: Warner Bros, Mattel, Companies, NPD Group, IRI, Unit, Walmart, Target, Amazon Prime, Consumers, Adobe Analytics, Aqua Locations: Manhattan, Lexington Ave, U.S, Boston, New York City

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