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☆ British asset manager St James's Place attracts $4.4 billion in first-half net inflows
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 27 (Reuters) - British asset manager St James's Place (SJP.L) reported a fall in half-yearly profit after tax on Thursday but attracted 3.4 billion pounds ($4.40 billion) of net inflows in what the company called a "challenging period" for UK investors. Funds under management hit a record 157.5 billion pounds, up from 148.4 billion in December 2022. Profit after tax fell to 161.7 million, down from 208.2 million in the same period last year, and the interim dividend was 15.83 pence per share, representing 30% of the previous full-year dividend, the company said. "As we look ahead, there continue to be challenges for UK consumers," he said. ($1 = 0.7722 pounds)($1 = 0.7719 pounds)Reporting by Elizabeth Howcroft, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

Persons: St James's, Andrew Croft, Croft, Elizabeth Howcroft, Sinead Cruise Organizations: St, Funds, UK savers, Thomson Locations: British, U.S

☆ Yellow Corp trucking company shares plunge as bankruptcy looms
▼ + stars: | 2023-07-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The end may be close for Yellow Corp, a nearly century-old trucking company with 30,000 employees. But the company handled only about 7% of the nation’s 720,000 daily LTL shipments last year, said Jindel. Higher prices will particularly be true for Yellow customers, Jindel said. But the LTL segment requires a network of terminals on which to sort incoming and outgoing freight. But eventually non-union carriers came to dominate the LTL segment as well.

Persons: Satish Jindel, “, ”, FreightWaves, Yellow, Sean O’Brien, —, Jindel Organizations: New, New York CNN, Yellow Corp, Teamsters, CNN, Street, Industry, International Brotherhood of Teamsters, Taxpayers Locations: New York, New Penn, Holland

Tokyo CNN —Japan’s population crisis is accelerating, with the number of nationals falling by more than 800,000 in the past year – echoing similar trends seen in other East Asian countries. As of January 1 this year, Japan’s total population stood at 125.4 million, including both Japanese and foreign residents, according to data released on Wednesday by Japan’s internal affairs ministry. The number of foreign residents rose by nearly 289,500 compared to the previous year – a significant increase of more than 10%. But the number of Japanese residents shrank by 800,523, marking the 14th consecutive year of contraction since a peak in 2009, said the ministry. However, due to the rise in foreign residents, the capital Tokyo saw a slight increase in overall population of all residents regardless of nationality.

Persons: Fumio Kishida, –, Shinzo Abe Organizations: Tokyo CNN, CNN Locations: Tokyo, Japan, China, South Korea, Singapore, Taiwan

LONDON, July 27(Reuters Breakingviews) - The world is getting hotter, but when it comes to achieving net zero investors are cooling. Glencore (GLEN.L), the $75 billion Swiss group that is one of the world’s biggest coal miners, makes an interesting case study for what’s changed. Either way, the plan raises the prospect of Glencore bulking up in coal before offloading some or all of the enlarged business. True, a listing of Glencore’s enlarged coal business might not happen for a few years. While prices have now more than halved, Glencore‘s coal business would still make $9 billion in EBITDA in 2023 if they averaged $200 a tonne.

Persons: what’s, Glencore, Gary Nagle, Nagle, Teck, wouldn’t, There’s, Wael Sawan, Larry Fink, underwhelmed, ” Nagle, Glencore’s, George Hay, Karen Kwok, Peter Thal Larsen, Aditya Munjuluru Organizations: Reuters, Resources, Teck Resources, Bluebell Capital Partners, Investment, International Energy Agency, Reuters Graphics Reuters, Rio Tinto, BHP, GQG Partners, Capital Research Group, BlackRock, Vanguard, Services, Saudi, Aramco, United Nations, of, Pensions, Shell, Financial Times, “, Melbourne Mining, Capital Partners, Thomson Locations: Glasgow, Ukraine, EBITDA, American, U.S, Glencore, London, New York, Europe, Melbourne

Other investors are simply moving to markets with better growth prospects, such as Brazil. The scale of change needed in global supply chains could drive such capital flows for the next decade, he said. The iShares MSCI Emerging Markets ex-China ETF , the world's largest emerging market ex-China ETF whose biggest holdings are firms in Taiwan, South Korea and India, attracted a record $1 billion net inflow in the first half of 2023, the data showed. "China is the one major country that investors are most concerned about in EM," said John Lau, portfolio manager for Asia Pacific and emerging market equities at SEI. “U.S., Canadian, and some European investors are exiting China due to political pressure.

Persons: Aly, Malcolm Dorson, John Lau, Goldman Sachs, Jeffrey Jaensubhakij, ”, Benjamin Low, Donald Trump, Joe Biden's, Biden, Wong Kok Hoi, Summer Zhen, Vidya Ranganathan Organizations: REUTERS, Global, China ETF, China, Asia Pacific, SEI, Stock Connect, Morningstar, China Opportunity Equity Fund, Fund, Boston, Cambridge Associates, CSI, Nikkei, Investors, Reuters Graphics, APS Asset Management, Thomson Locations: Shanghai, China, HONG KONG, U.S, Mexico, India, Vietnam, Brazil, New York, Taiwan, South Korea, Asia, Singapore, Indonesia, Japan, Hong Kong, Canada, “ U.S

☆ Australia’s $2.5 trln pension stash is one to envy
▼ + stars: | 2023-07-26 | by ( Antony Currie | ) www.reuters.com time to read: +7 min

Sure, mining giant BHP (BHP.AX) has its headquarters in Australia’s second-most populous city, it’s a self-anointed coffee capital and boasts top-notch restaurants. Two other factors have capital-hungry institutions knocking on super funds’ doors. This is especially true of so-called industry funds that are mutually owned and initially catered to specific sectors such as higher education employees or hospitality workers. Daniel Andrews, premier of Victoria, has earmarked industry super funds as minority investors in a state-run plan to build renewable energy plants. Recent ructions in real estate have prompted some super funds to reassess whether the risk and complexity are justified.

Persons: dwarfing, AustralianSuper, California’s CalPERS, London’s, Paul Schroder, Hostplus, Anthony, Daniel Andrews, Breakingviews, outsized, Peter Thal Larsen, Thomas Shum Organizations: MELBOURNE, Reuters, Australian Stock Exchange, Association, Retirement, Canada, Plan Investment Board, Prudential Regulation Authority, APRA, Coal, IFM, Vienna Airport, KPMG, Reuters Graphics, Australian, Trust, Macquarie, Victorian State Department of, UniSuper, Sydney Airport, Victoria, Blackstone, CVC, Thomson Locations: Hong Kong, Melbourne, Australia’s, it’s, Australia, Heathrow, Edinburgh, Europe, United States, Indiana, New York, London

☆ China's politburo meeting leaves many economic headaches unaddressed
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +5 min

Encouraging higher wages requires unleashing the private sector from tight Communist Party controls, as well as boosting workers' bargaining power. Another headache for the Communist Party is youth unemployment surpassing 20%. The onus is on the private sector to provide those jobs, but many businesses lack confidence after years of crackdowns on the tech, financial and other industries. Chinese courts answer to the Communist Party. More profound structural reforms will have to wait until a key Party conference in December.

Persons: weren't, Marius Zaharia, Lincoln Organizations: Communist Party, Thomson Locations: HONG KONG, CHINA, China, United States, Japan, Beijing, crackdowns

☆ Pope tells transgender person: 'God loves us as we are'
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

VATICAN CITY, July 25 (Reuters) - Pope Francis has told a young transgender person that "God loves us as we are", his latest outreach gesture towards the LGBT community. One of the young people was Giona, an Italian in their early 20s who said they were "torn by the dichotomy between (their Catholic) faith and transgender identity". The Catholic Church teaches that members of the LGBT community should be treated with respect, compassion and sensitivity, and their human rights respected. Whether the Church can and should be more welcoming towards LGBT people, for example by offering blessings for same-sex unions, is a particularly sensitive topic. He backs civil laws giving same-sex couples rights in bureaucratic matters such as pensions and health care.

Persons: Pope Francis, Francis, Alvise, Philip Pullella, Mark Heinrich Our Organizations: CITY, Vatican, Catholic, Catholic Church, Thomson Locations: Portugal

July 24 (Reuters) - FedEx pilots have rejected a tentative contract deal with the parcel delivery firm and the two sides will reopen negotiations, likely under the supervision of the National Mediation Board, the company and the pilots' union said on Monday. The Air Line Pilots Association (ALPA) did not detail the reasons why members voted 57% to 43% to reject the deal. "Our members have spoken and we will now regroup," Captain Chris Norman, FedEx ALPA chair, said in a statement. The tentative FedEx deal included a 30% pay increase and a 30% increase to the pilots' legacy pensions. American Airlines (AAL.O) and the Allied Pilots Association are revising their tentative deal following the United agreement.

Persons: Chris Norman, Priyamvada, Lisa Baertlein, Devika Syamnath, Susan Heavey, Hugh Lawson Organizations: FedEx, National Mediation Board, Air Line Pilots Association, United Airlines, ALPA, American Airlines, Allied Pilots Association, United Parcel Service, UPS, Thomson Locations: Bengaluru, Los Angeles

Madrid CNN —Spanish voters are heading to the ballot boxes in Sunday’s snap general election that could see a far-right party enter government for the first time in decades. Podemos also suffered in the May elections and has signed a deal to run under the new leftist Sumar alliance. Prime Minister Pedro Sanchez and PP leader Alberto Nunez Feijóo shake hands before a TV debate. Feijóo under fireSanchez was widely seen to have lost the only televised debate with Feijóo early in the election campaign. The winner on Sunday needs 176 seats in the 350-seat Legislature for an absolute majority, but polls say that’s unlikely.

Persons: Pedro Sanchez, Podemos, Alberto Núñez Feijóo, Andres Villena, Sanchez, Feijóo, haven’t, Alberto Nunez Feijóo, Pierre, Philippe Marcou, General Francisco Franco, Vox, ” Feijóo, “, ”, Jose Luis Rodriguez Zapatero Organizations: Madrid CNN —, Popular Party, Vox, Socialist, PSOE, European Union, Madrid’s Complutense University, CNN, ETA, Franco, Socialists Locations: Madrid, Spain, Catalan, Basque, AFP

☆ The top 10 U.S. cities for retirees — No. 1 isn’t in Florida
▼ + stars: | 2023-07-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Many cities in Florida remain popular retirement destinations, but a Pennsylvania city ranks as the best place to spend your post-work years. A second Pennsylvania city, state capital Harrisburg, is No. It's clear Pennsylvania and Florida dominate the top spots on the list of best places to retire. Florida doesn't tax income and Pennsylvania doesn't tax retirement pensions and distributions from 401(k)s, IRAs or Social Security, according to Kiplinger. Here are the top 10 U.S. cities for retirees, according to U.S. News & World Report:Lancaster, Pennsylvania Harrisburg, Pennsylvania Pensacola, Florida Tampa, Florida York, Pennsylvania Naples, Florida Daytona Beach, Florida Ann Arbor, Michigan Allentown, Pennsylvania Reading, PennsylvaniaWhile lists like these can be helpful while researching potential retirement locations, remember that everyone's ideal retirement is unique and shaped by different priorities.

Persons: Lancaster, Warren Buffett Organizations: U.S . News, U.S ., . News, U.S . Census, Tax Foundation, Louis Federal Reserve Bank, Pensacola, Security, Kiplinger Locations: Florida, Pennsylvania, Lancaster , Pennsylvania, U.S, Puerto Rico, Lancaster, Harrisburg, Lancaster , Pennsylvania Harrisburg , Pennsylvania Pensacola, Florida Tampa , Florida York, Pennsylvania Naples, Beach , Florida Ann Arbor , Michigan Allentown , Pennsylvania Reading

☆ Biden to keep Julie Su on indefinitely as Labor chief despite lack of Senate votes
▼ + stars: | 2023-07-21 | by ( Sahil Kapur | Liz Brown-Kaiser | ) www.cnbc.com time to read: +5 min

The White House plans to use a little-known law to keep Acting Labor Secretary Julie Su in the job even if she fails to win Senate approval, a White House official told NBC News. "Upon Secretary Walsh's departure, Acting Secretary Su automatically became Acting Secretary under its organic statute, not under the Federal Vacancies Reform Act," the White House official said in an email. "As a result, Su is not subject to the time limits of the Federal Vacancies Reform Act and she can serve as Acting Secretary indefinitely." But Su's nomination for labor secretary has since stalled in the Senate, where Democrats control 51 votes and expect unified Republican opposition. "The President's support for Acting Secretary Su is unwavering," the White House official said.

Persons: Julie Su, Walsh's, Su, Marty Walsh, Sen, Joe Manchin, Kyrsten Sinema, hasn't, Joe Biden, Biden, Julie Su's, Bill Cassidy, Kevin McCarthy, Mitch McConnell, Donald Trump, Chuck Schumer, — Elyse Perlmutter, Gumbiner Organizations: Education, Department of Labor, White, Labor, NBC, Federal, White House, NBC News, Senate, Health, Pensions, GOP, Republican, Democratic, Wednesday Locations: Rayburn, Ky

☆ UK pension fund USS wins appeal over fossil fuel investments
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

The 82 billion-pound ($103 billion) Universities Superannuation Scheme (USS) faced legal action from two of its members over its continuing investments in coal, natural gas and petroleum. Judge Sarah Asplin said in a written ruling that the parts of the lawsuit relating to USS investments in fossil fuels were an attempt to challenge the scheme's management and investment decisions which was "bound to fail". The attempt to bring the case on behalf of USS against its directors, which has also been attempted by environmental law charity ClientEarth against Shell (SHEL.L), will be keenly watched by other pension funds and environmental groups. The two academics bringing the case, Ewan McGaughey and Neil Davies, argued that fossil fuel investments pose a "significant and increasing" financial risk to USS that its directors were not addressing. However, lawyers representing USS argued the case should be dismissed as the scheme's investments in fossil fuels have not caused any loss to USS or the two academics, which is necessary for a derivative lawsuit to proceed.

Persons: Sarah Asplin, Ewan McGaughey, Neil Davies, David Grant, –, Davies, Sam Tobin, Sarah Young, Mike Harrison Organizations: London's, Shell, McGaughey, Thomson Locations: London

☆ UK unions suspend London Underground strikes next week
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] People stand outside Victoria Underground station that is closed while London Underground workers strike over pay and terms, in London, Britain, August 19, 2022. REUTERS/Henry NichollsLONDON, July 21 (Reuters) - Two British trade unions on Friday called off strikes on London's underground train network which had been planned to take place next week, citing progress in talks on pensions and working conditions. The National Union of Rail, Maritime and Transport Workers (RMT) union had been planning to take industrial action between July 23 and 28. "After a week of intense negotiations, we have made real progress in making sure our members’ working conditions and pensions are protected," Finn Brennan, ASLEF organiser, said in a statement. "Our campaign to defend jobs, conditions and our members pensions will continue in the coming weeks and months," Lynch said.

Persons: Henry Nicholls LONDON, Finn Brennan, Mick Lynch, Lynch, William James, Farouq Suleiman, Jason Neely Organizations: London Underground, REUTERS, National Union of Rail, Transport Workers, Associated Society of Locomotive Engineers, Firemen, Thomson Locations: London, Britain, British, Maritime

[1/5] A worker sweeps a street in the Central Business District on a rainy day in Beijing, China, July 12, 2023. REUTERS/Thomas PeterBEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich. He expects growth to slow to 3%, which "will feel like an economic recession" when youth unemployment is already above 20%. The April-June data puts 2023 growth on track for roughly 5%, with slower rates thereafter. But China's annual growth averaged around 7% last decade, and more than 10% in the 2000s.

Persons: Thomas Peter BEIJING, Desmond Lachman, year's, Wang Jun, Zheng Shanjie, Zheng, Richard Koo, Juan Orts, Xi Jinping's, Zhao, Cai Fang, Zhu Ning, Koo, Liangping Gao, Ellen Zhang, Ziyi Tang, Kevin Yao, Joe Cash, Marius Zaharia, David Crawshaw Organizations: Central Business District, REUTERS, American Enterprise Institute, Reuters, Communist, Huatai Asset Management, Reform Commission, Overseas, Nomura Research Institute, Fathom Consulting, Shanghai Advanced Institute of Finance, Thomson Locations: Beijing, China, Japan, United States, Young, Africa, Latin, U.S, Central

☆ Rates surge hits UK wealth, but young people might gain - report
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

But the Resolution Foundation think-tank said younger people could benefit from the partial reversal of the decades-long climb in the value of household wealth. "The future path of interest rates is very uncertain," Ian Mulheirn, Research Associate at the Resolution Foundation, said. "The current surge could be a blip, or herald a new era for the UK. The Resolution Foundation said 2.1 trillion pounds ($2.75 trillion) had been lost in terms of household wealth over the last year after an unprecedented surge in recent decades which took wealth to 17.5 trillion pounds in 2021. Younger people could also feel the benefit of higher rates on their pension savings, the foundation said.

Persons: Ian Mulheirn, Mubin Haq, William Schomberg Organizations: Bank of England, Seven, abrdn, Trust, Thomson Locations: Britain

☆ Canadian pensions funds keen to invest in India, Indian government says
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, July 16 (Reuters) - Canadian pensions funds would be keen to explore investing in infrastructure funds in India as the country offers a stable investment climate, Finance Minister Chrystia Freeland said on Sunday, according to an Indian government statement. Indian Finance Minister Nirmala Sitharaman, meeting Freeland on the sidelines of gathering of Group of 20 finance ministers and central bankers in northwest India, discussed progress on bilateral trade negotiations, Sitharaman's office said in a tweet. Reporting by Manoj Kumar; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Chrystia Freeland, Nirmala Sitharaman, Freeland, Manoj Kumar, William Mallard Organizations: Finance, Indian, Thomson Locations: DELHI, India

☆ How a Vast Demographic Shift Will Reshape the World
▼ + stars: | 2023-07-16 | by ( Lauren Leatherby | ) www.nytimes.com time to read: +18 min

1990 Younger populations Workingage Older populations For decades, the world’s dominant powers have benefited from large working-age populations that help drive economic growth. Russia U.K. France Pakistan Pakistan China China U.S. U.S. Japan U.S. Japan China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan Pakistan China China U.S. U.S. U.S. Japan Japan China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan China U.S. U.S. U.S. Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C. Russia U.K. France Pakistan China U.S. U.S. U.S. Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C.

Persons: That’s, ”, Mikko Myrskylä, Max Planck, Carolina Cardona, Philip O’Keefe, –, O’Keefe, Myrskylä, “ We’ve, “, aren’t, Mr Organizations: Korea Germany Italy Russia United, France, France Pakistan Pakistan China China U.S ., U.S, China India Nigeria D.R.C, France Pakistan Pakistan China China U.S . U.S, France Pakistan, France Pakistan China U.S . U.S, for Demographic Research, Youth, Niger, Dem, Central African Rep, Herzegovina Bulgaria Croatia Czech Rep, Denmark Estonia Finland France Germany Greece, Denmark Estonia Finland France Germany Greece Hungary Ireland, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Kosovo, Macedonia Norway Poland Portugal Moldova Romania, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia Slovenia, Hong Kong North Korea Japan Mongolia South Korea Taiwan Northern America, New Zealand, New, Benin Botswana Burkina Faso Burundi Cameroon Central African Rep, Chad Comoros, Congo Ivory Coast Dem, Johns Hopkins University, Aging, ARC Center of Excellence, Aging Research, World Bank, Spain Taiwan, Young, Korea, Spain, “ Locations: Japan, Western Europe, South Korea, Britain, Eastern Europe, China, Europe, India, East Asia, Florida, United States, South, Southeast Asia, Africa, Korea Germany Italy, Korea Germany Italy Russia United States France China Thailand United Kingdom, South Korea Brazil Colombia China Thailand Iran Myanmar Vietnam Bangladesh Indonesia, South Africa Myanmar Indonesia Bangladesh Philippines Pakistan Kenya Indonesia Egypt Ethiopia, Russia, France Pakistan Pakistan China China U.S, France Pakistan Pakistan China China U.S . U.S, Japan U.S, Japan China India India India Nigeria Nigeria Ethiopia D.R.C, Indonesia Indonesia Brazil Brazil Brazil, China Japan India Brazil, Pakistan France China U.S, Japan India Nigeria Brazil Indonesia, Pakistan U.S, China India Nigeria, Ethiopia Brazil Indonesia, France Pakistan Pakistan China China U.S . U.S . U.S, Japan Japan China India India India Nigeria Nigeria Ethiopia D.R.C, France Pakistan China, France Pakistan China U.S . U.S . U.S, Japan Japan China China India India India Nigeria Nigeria Ethiopia D.R.C, Congo Somalia, Angola Tanzania Nigeria, Afghanistan Ethiopia Tajikistan Kenya, Asia, Oceania, Kenya, Demographically, South Asia, Singapore, Albania, Austria Belarus Belgium Bosnia, Herzegovina Bulgaria, Denmark Estonia Finland France Germany, Denmark Estonia Finland France Germany Greece Hungary, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy, Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Kosovo Latvia Lithuania Netherlands, Macedonia Norway Poland Portugal, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia, Macedonia Norway Poland Portugal Moldova Romania Russia Serbia Slovakia Slovenia Spain Sweden Switzerland Ukraine, Eastern Asia, Hong Kong North Korea Japan Mongolia South Korea Taiwan Northern, Canada, States Australia, New, Australia, New Zealand, Saharan Africa, Angola, Benin Botswana Burkina Faso Burundi Cameroon, Congo, Congo Djibouti, Guinea Eritrea Eswatini Ethiopia Gabon Gambia Ghana Guinea Guinea, Bissau Kenya Lesotho Liberia Madagascar Malawi Mali Mauritania Mauritius Mozambique Namibia Niger Nigeria Rwanda Senegal Sierra Leone Somalia South Africa South Sudan Togo Uganda Tanzania Zambia Zimbabwe, Aging Asia, Pacific, America, “, Hong Kong, Italy, Spain, Spain Taiwan Greece, Singapore Slovenia Thailand Germany, Mainland China Finland Japan Netherlands Canada, Hong Kong South Korea, Singapore Slovenia Japan Thailand Germany, Mainland China Finland Netherlands, U.N, Korea Japan Spain, Korea Japan, France, West, East, Vietnam

☆ Biden's labor secretary pick may not have the votes. She also may not need them.
▼ + stars: | 2023-07-13 | by ( Liz Brown-Kaiser | Sahil Kapur | ) www.cnbc.com time to read: +7 min

The Senate is stalled on President Joe Biden's pick for secretary of labor, Julie Su, and Democrats face a conundrum on how to proceed. But Su, who currently serves as the acting labor secretary, could just keep running the department anyway. Federal law places no limits on how long Su can serve as acting labor secretary without being confirmed. He said he wants a voice for "both labor and industry" in the labor secretary role. Any Senator who voted to confirm Secretary [Marty] Walsh should vote to confirm Acting Secretary Su, too.

Persons: Julie Su, Joe Biden's, Su, Biden, Sen, Bernie Sanders, Kyrsten Sinema, Jon Tester, Joe Manchin, pushback, there's, Mazie Hirono, haven't, She's, she'll, she's, Mark Kelly, John Hickenlooper, I'm, Su aren't, Tester, you've, Manchin, Bill Cassidy of, Sinema, Tammy Duckworth, Marty, Walsh, We're, Sherrod Brown, Elizabeth Warren of, Chuck Schumer Organizations: Health, Education, Labor, Capitol, Labor Department —, Pensions, Su's, Democrats, HELP, Su's Democratic, White, Department, Democratic Locations: Washington, American, Sens, Hawaii, Bill Cassidy of Louisiana, Sherrod Brown of Ohio, Elizabeth Warren of Massachusetts

☆ Actors are poised to go on strike against studios and streaming services
▼ + stars: | 2023-07-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The actors could be on strike themselves without a last-minute deal with studios and streaming services on Wednesday. Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. This would be the first actors strike against television shows and movie productions since 1980. Just before the last deadline, it seemed as if an actors strike could be avoided.

Persons: haven’t, ”, Robyn Beck, It’s, Tom Nunan, Jonathan Handel, Handel, “, it’s, Blockbuster hadn’t, David Mumpower, Fran Drescher, —, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Drescher, –, Vanessa Yurkevich Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Alliance, Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., Federal Mediation, Conciliation Service, SAG, UCLA School of Theater, Film, Television, Writers Guild of America, Blockbuster, AMPTP, Gabbana’s Locations: New York, AFP, Moda, Southern Italy

☆ Explainer: Clock ticks down towards potential UAW strike against Detroit Three automakers
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +6 min

Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers have gone on until the strike deadline and beyond in past years. "To win, we're likely going to have to take action," UAW Fain said on Wednesday. The Detroit Three want to close the cost gap they have with foreign automakers with non-unionized U.S. factories. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike.

Persons: Andrew Kelly, Shawn Fain, Fain, Jim Farley, we're, UAW Fain, Biden, Tesla, GM's, Nathan Gomes, Sriraj Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, Detroit automakers, FROM, Reuters, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Bengaluru

[1/2] British Chancellor of the Exchequer Jeremy Hunt holds a Ministerial Statement at the House of Commons in London, Britain, June 26, 2023. The government rocked pension savers last September with a fiscal statement that drove government bond yields higher and forced pension schemes to scramble for cash, triggering a parliamentary inquiry into their investments. The government is under pressure to revitalise domestic investor interest in several industries considered key to Britain's growth, including fintech, biotech, life science and clean technology. Encouraging greater investment in growth assets will help younger savers but the reforms offer little hope to those retiring in the near term. Inflation continues to ravage Britain's economy, with rates running higher than in any other major rich country.

Persons: Jeremy Hunt, Jessica Taylor, Handout, Richard Gnodde, Becky O’Connor, Jon Hatchett, Hymans Robertson, Andrew Bailey, Hunt, Anna Anthony, Sinead Cruise, Carolyn Cohn, Nick Macfie Organizations: REUTERS, Aviva, Goldman Sachs, Public Affairs, Bank of England, Financial, Thomson Locations: London, Britain, City, PensionBee, Britain's

☆ A country slightly bigger than Texas is projected to match the US's population by 2050 — and it shows how radically the world is going to change over the next three decades
▼ + stars: | 2023-07-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

It's World Population Day. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyHappy World Population Day. "The population growth is, of course, partly explained by improvement in level and access to public health," Amare said. Michael Herrmann, an economic adviser with United Nations Population Fund, told Africa News that without proper planning it can difficult to care for, educate, and employ a population growing that fast. "They want to create full employment for the people, and a growing population can raise the stakes in these efforts.

Persons: António Guterres, it's, Tighisti Amare, Amare, Michael Herrmann, Hermann Organizations: Service, United Nations, Google, Africa, Chatham House, United Nations Population Fund Locations: Nigeria, Wall, Silicon, India, China, Japan, Germany, Pakistan, Indonesia, Texas, Africa, London

☆ Pension funds reform: Britain is banking on this $3 trillion cash cow to revive its economy
▼ + stars: | 2023-07-11 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

London CNN —The UK economy badly needs a boost — and the government hopes the nation’s vast pension savings might deliver one. All UK workplace pension plans offer default funds, which savers who don’t choose their own investment strategy are automatically enrolled into. Measures to tap pension fund cash come at a crucial time for an economy suffering from stubbornly high inflation, depressed investment and feeble growth. UK pension funds’ exposure to domestic stock markets has fallen even more sharply: from 53% in 1997 to 6% in 2021. The combination of measures is likely to have “far-reaching” effects on the types of assets pension funds invest in, easing companies’ access to the capital they need to grow, he added.

Persons: Jeremy Hunt, Mercer, ” Hunt, Hunt, “, ”, Nicholas Lyons, Julia Hoggett, Nigel Peaple Organizations: London CNN, Aviva, London, European, London Stock Exchange, Nasdaq, EU, chipmaker ARM, House, of London Corporation, City of, Financial, New Financial, Pension, Lifetime Savings Association Locations: London, Britain, Frankfurt, Paris, New York, United States, United Kingdom, Edinburgh, City of London

☆ Marines without Senate-confirmed leader for first time since 1859 after GOP senator blocks nominee
▼ + stars: | 2023-07-11 | by ( Zoë Richards | ) www.cnbc.com time to read: +3 min

For the first time in more than 150 years, the Marine Corps is operating without a Senate-confirmed commandant. The delay marks the first time the Marine Corps will have been without a Senate-confirmed commandant in 164 years. At a ceremony Monday for Berger — the Marine Corps' 38th commandant — Defense Secretary Lloyd Austin urged the Senate to act. "You know, it's been more than a century since the U.S. Marine Corps has operated without a Senate-confirmed commandant," Austin said. Tuberville, who for months has been using a procedural tactic to slow promotions that are typically approved through unanimous consent, objected to Reed's move, citing the Pentagon's abortion policy.

Persons: Sen, Tommy Tuberville, Vivek Murthy, David H, Berger, GOP Sen, Eric Smith, Lloyd Austin, it's, Austin, that's, Jack Reed, Reed, Tuberville, Reed's, Sabrina Singh, Roe, Wade Organizations: Health, Education, Labor, Marine Corps, GOP, —, Senate, U.S . Marine Corps, United States, Senate Armed, Pentagon, Supreme Locations: Alabama

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