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☆ North Korea marks 75th founding anniversary
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

[14/22]Read moreShare this photoA Chinese delegation led by Liu Kuk-jung, vice-premier of the State Council and member of the Political Bureau of the Central Committee of the Communist Party of China, who is visiting North Korea to participate in the celebration of its 75th founding anniversary, place flower baskets in front of the statues of North Korea's founder Kim Il Sung and former leader Kim Jong Il, at Mansudae hill,...

Persons: Liu Kuk, North, Kim Il Sung, Kim Jong Il Organizations: State Council, Political, Central Committee of, Communist Party of China Locations: North Korea

☆ Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Under the restructuring, Kanghui will effectively become a separately listed company via transactions involving power and heating firm Dalian Thermal Power (600719.SS), which will buy 100% of Kanghui for 10.15 billion yuan ($1.39 billion) in shares. This will optimize Kanghui's structure and expand its funding channels, Hengli said in a filing to the Shanghai stock exchange. Hengli also said it will become indirect controlling shareholder of Kanghui after the transaction, retaining its control over the firm. Dalian Thermal will issue 2.3 billion shares to Hengli and a unit of the company which makes chemical fibre, said the filing. The transactions will change Dalian Thermal's controlling shareholder from a firm backed by the state asset regulating authority in the city of Dalian to Hengli Petrochemical, Dalian Thermal said.

Persons: Kanghui, Hengli, Roxanne Liu, Ella Cao, Kane Wu, David Holmes Organizations: Hengli Petrochemical, Technology, Dalian Thermal Power, Dalian Thermal's, Dalian, Thomson Locations: Dalian, Kanghui, Shanghai

While China has sent a delegation led by Vice Premier Liu Guozhong to the North Korea's anniversary celebrations, Russia sent a military song and dance group. KCNA said Kim received letters from Putin and Chinese President Xi Jinping on the anniversary, where both leaders said that their countries’ strengthening ties with North Korea would contribute to the region’s peace and stability. State media did not mention whether Kim made a speech during the parade, indicating that he likely didn't. A day before the parade, Kim took Shoigu on a tour of a domestic arms exhibition, which demonstrated North Korea’s support for Russia’s invasion of Ukraine and added to suspicions the North was willing to supply arms to Russia. In exchange for providing Russia with artillery shells and other ammunition, North Korea could seek badly needed energy and food aid and advanced weapons technologies, analysts say.

Persons: Kim Jong, Kim, Vladimir Putin, Liu Guozhong, Putin, KCNA, Xi Jinping, Kim Il, —, Liu, United States ’, Sergei Shoigu, Li Hongzhong Organizations: North, Washington, Guards, Red Guards, Analysts, United, Russian Defense, Communist Party Locations: SEOUL, South Korea, North Korea, Moscow, Beijing, Washington, Pyongyang, Russia, Ukraine, China, Kim, Vladivostok, Korea, Koreans, United States, Japan, Seoul, Tokyo

Hong Kong/Seoul CNN —SK Hynix, a South Korean chipmaker, is investigating how two of its memory chips mysteriously ended up inside the Mate 60 Pro, a controversial smartphone launched by Huawei last week. “The significance of the development is that there are restrictions on what SK Hynix can ship to China,” G Dan Hutcheson, vice chair of TechInsights, told CNN. The big question is whether any laws were violated.”A Hynix spokesperson told CNN Friday that it was aware of its chips being used in the Huawei phone and had started investigating the issue. “SK Hynix is strictly abiding by the US government’s export restrictions,” the company said. Industry insiders said it was possible that Huawei had purchased the memory chips from the secondary market and not directly from the manufacturer.

Persons: ” G Dan Hutcheson, It’s, TechInsights, Mike Gallagher, Michael McCaul Organizations: Seoul CNN — SK Hynix, Huawei, SK Hynix, CNN, “ SK Hynix, US, Industry, 5G Kirin, chipmaker Semiconductor Manufacturing International Corporation, White Locations: Hong Kong, Seoul, Korean, Hynix, Canada, China, United States, Shenzhen

☆ London-listed SPAC moves closer to launch of Lloyd's insurance vehicle
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

The interior of the Lloyd's of London building is seen in the City of London financial district in London, Britain, April 16, 2019. REUTERS/Hannah McKay//File Photo Acquire Licensing RightsLONDON, Sept 8 (Reuters) - A London-listed special purpose acquisition company has moved closer to launching a vehicle designed to give investors access to the Lloyd's of London insurance market, according to a statement on Friday. Financial Acquisitions Corp said it had established London Innovation Underwriters Limited (LIU), as part of a plan to deploy funds in the historic insurance market and build a reinsurance book with up to 1 billion pounds ($1.25 billion) of capacity. The SPAC intends to combine with LIU and raise a "significant sum" of equity capital on the London Stock Exchange, the statement said, adding a further statement would be made once the combination was entered into. ($1 = 0.8010 pounds)Reporting by Iain Withers; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Hannah McKay, LIU, Iain Withers, Sharon Singleton Organizations: REUTERS, Corp, London Innovation Underwriters, London Stock Exchange, Thomson Locations: London, City, Britain

☆ This is the state with the highest share of young, rich workers—it isn't New York or California
▼ + stars: | 2023-09-08 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +1 min

Young, rich Americans are leaving places like New York and California for more affordable living in Florida and Texas. But to find the highest concentration of wealthy young people, Washington is the place to be. The state just edges out California, where 10% of high-earners are young professionals. New York, Massachusetts and New Jersey also have high rates of high-earning young people. Washington's young and wealthy demographic is buoyed by Seattle, where early-career workers can earn a lot in the high-paying tech and health care sectors.

Persons: Young, Jaclyn DeJohn, SmartAsset's, DeJohn Organizations: U.S, Washington Locations: New York, California, Florida and Texas, Washington, New York , Massachusetts, New Jersey, Seattle, U.S, Manhattan, San Francisco

London CNN —Workers at Chevron’s liquified natural gas facilities in Australia have begun to walk off the job in a dispute that threatens as much as 7% of global supplies and could add to rising pressure on energy prices. The alliance represents 500 workers at the Gorgon and Wheatstone facilities, both off the coast of Western Australia. “Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms,” a Chevron spokesperson said. “The unions continue to seek terms that are above and beyond equivalent terms with others in the industry, including in agreements recently reached.”News of the breakdown in talks sent European natural gas prices rising. The two Chevron sites are hugely significant, accounting for approximately 6% of global supply, according to analysts at ANZ.

Persons: ” Ben Cahill, Kunro Irie, Daniel Toleman, Wood Mackenzie, ”, — Juliana Liu Organizations: London CNN — Workers, Australian Offshore Alliance, Chevron, Facebook, ”, European Commission, “, Center for Strategic, International Studies, ANZ, Offshore Alliance Locations: Australia, Western Australia, Europe, Russia, Ukraine, Saudi Arabia, United States, Qatar, Asia

Chien has won three times on what is now the Epson Tour and twice on the Taiwan LPGA. Former U.S. Women's Open champion Yuka Saso (66) and Charley Hull of England (68) were five shots behind. This is Thompson's final event before the Solheim Cup in Spain on Sept. 22-24. U.S. Women's Open champion Allisen Corpuz had another 72 and missed the cut, along with fellow U.S. Solheim Cup player Cheyenne Knight, who had a 73. Linn Grant of Sweden shot 71 and missed the cut ahead of her Solheim Cup debut.

Persons: —, Chien, “, ”, Ruoning Yin of, Morgane, Ruixin Liu of, Yin, Shanshan Feng, Liu, didn't, Yuka Saso, Charley Hull of, Rose Zhang, Lexi Thompson, Thompson, Allisen Corpuz, Cheyenne Knight, Linn Grant, Perrine Delacour, It’s, ” Delacour, I’m Organizations: CINCINNATI, Kroger, City Championship, Epson, Taiwan LPGA, Games, Kenwood Country Club, KPMG Women's, Former, Women's, Solheim, U.S, Cheyenne Locations: Chien, Taiwan, America, Asia, Ruoning Yin of China, Switzerland, Ruixin Liu of China, China, Former U.S, Charley Hull of England, Spain, Sweden

☆ Chinese operatives are using AI photos to trick American voters and turn them against each other, Microsoft says
▼ + stars: | 2023-09-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Microsoft warned that China has been using AI-generated images to sow discord among US voters. Microsoft analysts said it was posted by an account suspected of being run as a Chinese influence operation. "This relatively high-quality visual content has already drawn higher levels of engagement from authentic social media users," the analysts warned. Videos of their protests were then "amplified" by social media accounts used by the operatives, Mandiant added. The social media company said it removed all of them.

Persons: Clint Watts, Watts, Liu Pengyu, Mandiant, Meta Organizations: Microsoft, Embassy, Washington , D.C, Service, Analysts, Chinese Communist Party, Liberty, CCP, Facebook Locations: China, Washington ,, Wall, Silicon, North Korea, Xinjiang

☆ Kim Jong Un and his daughter celebrate North Korea's 75th. Xi and Putin send their regards
▼ + stars: | 2023-09-08 | by ( Gawon Bae | ) edition.cnn.com time to read: +1 min

Seoul, South Korea CNN —Kim Jong Un attended a “paramilitary parade” with his daughter to mark the 75th anniversary of North Korea’s founding on Saturday, the country’s state media have reported. Paramilitary forces and industrial workers marched down Kim Il Sung Square in Pyongyang as part of the parade, the Korean Central News Agency reported. Kim attended the parade with his daughter, who is believed to be called Kim Ju Ae, and received congratulatory letters from China’s Xi Jinping and Russia’s Vladimir Putin, according to KCNA. Kim Jong Un attends the parade marking the 75th anniversary of the founding of North Korea on September 9, 2023. In Xi’s letter, according to KCNA, the Chinese leader said his country was “ready to strengthen the strategic communication, deepen the working-level cooperation and promote the China-DPRK relations” with Pyongyang.

Persons: South Korea CNN — Kim Jong Un, Kim Il, Kim, Kim Ju, China’s Xi, Russia’s Vladimir Putin, Liu Guozhong, Alexandrov, KCNA, Kim Jong Un, ”, ” Putin Organizations: South Korea CNN, Paramilitary, Korean Central News Agency, Russian Army, North, REUTERS Locations: Seoul, South Korea, Pyongyang, North Korea, Northeast Asia, China

☆ Dollar rises on robust U.S. economy, yuan sinks to 16-year low
▼ + stars: | 2023-09-07 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. China's onshore yuan slid to a 16-year low, under pressure from a property slump, weak consumer spending and shrinking credit growth in the world's second-largest economy. ONSHORE YUAN HIT 2007 LEVELSThe onshore yuan sank to 7.3296 per dollar, its weakest since December 2007. The Australian dollar was about flat at $0.6384, while the New Zealand dollar rose 0.3% at $0.5885, with both languishing near their recent 10-month lows. “We see yuan staying under pressure (against the dollar) in the near term," said Becky Liu, head of China macro strategy at Standard Chartered Bank.

Persons: Florence Lo, Kirstine Kundby, Joseph Capurso, Becky Liu, BoE, Andrew Bailey, Joice Alves, Rae Wee, Zhou, Sharon Singleton, Chizu Organizations: U.S, REUTERS, U.S ., Nielsen, Danske Bank, Federal Reserve, Commonwealth Bank of Australia, New Zealand, Standard Chartered Bank, People's Bank of China, European Central Bank, Bank of England, Thomson Locations: U.S, China, Beijing, China's, Japan, Asia, Bank

CINCINNATI (AP) — Ruixin Liu of China was still suffering from allergies that forced her to withdraw from the LPGA Tour event last week. Liu said she still didn't have a clear head for the opening round in Cincinnati and has no idea why she played so well. Thompson is having her worst year on the LPGA Tour but still made the Solheim Cup team through the women's world ranking. The LPGA Tour is coming off a week that delivered one of the biggest surprises of the year. She is a six-time winner on the Futures Tour but has never finished in the top 10 on the LPGA Tour in individual play.

Persons: — Ruixin Liu, Liu, Peiyun Chien, Elizabeth Szokol, Dottie Ardina, Linnea Strom, ” Liu, “, ”, Emily Kristine Pedersen of, Charley Hull, Madelene, Jennifer Kupcho, Ally Ewing, Rose Zhang, Lexi Thompson, Thompson, Lydia Ko, Ruoning Yin, Chanettee Wannasaen, I’m, Ardina, ” Ardina Organizations: CINCINNATI, LPGA, Kroger, City, Kenwood Country Club, Portland, Queen City, Solheim, Emily Kristine Pedersen of Denmark, Kenwood, PGA Locations: China, Peiyun, Cincinnati, Spain, Europe, Sweden

☆ A Chinese woman held 16 jobs for 3 years and never showed up to work, report says
▼ + stars: | 2023-09-07 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

A Chinese woman has been exposed in a massive wage fraud scheme, holding 16 jobs at once. The scheme brought in an estimated $7 million and involved 53 fake workers, Chinese media reported. Wage fraud is a massive problem in China, with at least 700 gangs working the system. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The woman, named only by the pseudonym of Guan Yue, was part of a massive labor fraud scheme worth almost $7 million, Chinese state-owned newspaper Xinmin reported.

Persons: Guan Yue, Guan, pseudonymously, Liu Jian, Liu, Yang Hong, they're Organizations: Service, unraveled Locations: China, Wall, Silicon, Shanghai

☆ TSMC to decide this week whether to invest in Arm IPO
▼ + stars: | 2023-09-06 | by ( Ben Blanchard | ) www.reuters.com time to read: +2 min

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Sept 6 (Reuters) - TSMC (2330.TW), the world's largest contract chipmaker, will decide this week whether to invest in chip designer Arm Holdings' blockbuster initial public offering (IPO), Chairman Mark Liu said on Wednesday. Speaking on the sidelines of the SEMICON Taiwan summit, Liu said his company was still evaluating the matter and, when pressed on when a decision may come, he added "this week". "Arm is an important element of our ecosystem, our technology and our customers' ecosystem. I’m sure it will be a very successful project," he said.

Persons: Dado Ruvic, Mark Liu, Liu, SoftBank Group's, TSMC, Ben Blanchard, Anne Marie Roantree, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Arm Holdings, Apple, Nvidia, Devices, Intel, Samsung Electronics, Thomson Locations: Rights TAIPEI, Taiwan, U.S ., Arizona

☆ HSBC names 6 'good value' Chinese tech stocks to buy — and gives one over 50% upside
▼ + stars: | 2023-09-06 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

HSBC named six Chinese internet stocks it says to buy — predicting that each have upside of at least 27%. HSBC's picks are "opportunities with good value," the analysts led by Charlene Liu said in a research note dated Sept. 1. "PDD has the most promising but undervalued top-line growth … as a market share gainer domestically and internationally," the analysts said. Tencent , with a 35% upside according to HSBC, "delivered a strong beat in ad revenue," the analysts said. Short video app Kuaishou , a preferred stock for HSBC for its gains in advertising market share and mix of revenue streams, has a 39% upside, according to the bank.

Persons: Charlene Liu, PDD, Pinduoduo, — CNBC's Michael Bloom Organizations: HSBC, Meituan, JD.com

☆ Chinese delegation led by vice premier to visit North Korea, state media says
▼ + stars: | 2023-09-06 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

KCNA via REUTERS/File Photo Acquire Licensing RightsSEOUL, Sept 7 (Reuters) - A Chinese Communist Party and government delegation headed by Vice Premier Liu Guozhong will visit North Korea to take part in the celebration of the country's founding day later this week, state media KCNA reported on Thursday. North Korea celebrates its founding day on Sept. 9, known as the Day of the Foundation of the Republic, and this year will mark the 75th anniversary since the peninsula was freed from Japanese occupation. Russia has said it has nothing to say on the report, and North Korean state media have not mentioned any visit to Russia. In July, a Chinese delegation led by Chinese Communist Party Politburo member Li Hongzhong visited Pyongyang and attended a military parade commemorating the 70th anniversary of the end of the Korean War - the first visit by a Chinese delegation since the pandemic. Last month North Korea began allowing its citizens back into the country for the first time since 2020, when it closed its borders during the pandemic.

Persons: Kim Jong, Liu Guozhong, Kim Jong Un, Kim, Vladimir Putin, Li Hongzhong, Li, Sergei Shoigu, Hyunsu Yim, Josh Smith, Sandra Maler, Stephen Coates Organizations: Naval Command, Korean People's Army, Navy, North, Korean Central News Agency, Reuters, KCNA, REUTERS, Rights, Communist Party, Central Committee, Workers ' Party of Korea, Democratic People's, Foundation of, The New York Times, Chinese Communist Party, Russian Defence, United Nations Security Council, Thomson Locations: North Korea, Rights SEOUL, Democratic People's Republic of Korea, DPRK, Korea, Republic, Russia, Korean, Pyongyang, North Korean

☆ Get Ready for the New Gucci, and Other Surprises of the Fashion Season
▼ + stars: | 2023-09-05 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +1 min

After seasons of relative calm and predictability (some might say stultifying sameness), Milan has become the city to watch, with the two debuts of the season. First up: Sabato De Sarno at Gucci. Then there’s Peter Hawkings, another longtime deputy, who became the creative director of Tom Ford in April after the brand was sold to Estée Lauder and Mr. Ford stepped down. Mr. Hawkings worked beside Mr. Ford for decades, and judging by his official portrait, is very much in the mold of his mentor (down to the tinted aviators). The result is pretty much guaranteed to remind of us what we lost when we lost the very talented Mr. Moschino at only 44 in 1994 and why brand founders really matter.

Persons: Sabato De Sarno, Gucci, Valentino, Alessandro Michele, Peter Hawkings, Tom Ford, Estée Lauder, Ford, Hawkings, Jeremy Scott, — Katie Grand, Carlyne Cerf, Dudzeele, Gabriella Karefa, Johnson, Lucia Liu —, Moschino Organizations: Mr Locations: Milan

☆ Entry-level jobs offering student loan repayment have doubled since 2019—where to find them
▼ + stars: | 2023-09-05 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Many student loan borrowers will resume making payments on their debt this fall, and some may get an extra boost from their employer. The share of entry-level jobs that mention student loan repayment programs has more than doubled since 2019, according to data from Handshake, the career platform for college students and recent grads. As of June, 3% of jobs on Handshake include a student debt repayment benefit, compared with 1.2% of job listings mentioning such benefits in June 2019. "Graduates in the health-care and medical field are known for carrying notable amounts of student loan debt," Williams tells CNBC Make It. "When paired with a high demand for frontline health-care workers and practitioners, these factors make student loan repayment options a competitive benefit."

Persons: Monne Williams, Williams, they're Organizations: Employers, CNBC, Research

☆ China Caixin PMI: Services activity falls in August to lowest level in eight months
▼ + stars: | 2023-09-05 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —A private survey of business activity in China’s services sector fell to its lowest level in eight months in August, as a flurry of economic stimulus measures seemed unable to reignite consumption demand. The Caixin China general services purchasing managers index (PMI) slipped to 51.8 last month from 54.1 in July, according to data released Tuesday by Caixin Media and S&P Global. This was partly due to weaker foreign demand for Chinese services, they added, citing evidence of sluggish overseas orders. After a strong start to 2023 following the lifting of strict pandemic restrictions, economic growth in China has stalled. Since April, a slew of disappointing economic data and population statistics has sparked concern that China may be facing a period of much slower growth.

Persons: ” Organizations: Hong Kong CNN, Caixin Media, P, PMI, National Bureau of Statistics, NBS Locations: China, Hong Kong

☆ 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

It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund. Its target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan respectively. China's finance ministry is planning to contribute 60 billion yuan, said one person. Backers of the Big Fund's previous two funds include the finance ministry and deep-pocketed state-owned entities such as China Development Bank Capital, China National Tobacco Corporation and China Telecom. INVESTMENT MANAGERSThe Big Fund is considering hiring at least two institutions to invest the new fund's capital, said the three people.

Persons: Xi Jinping, Florence Lo, China's, Julie Zhu, Kevin Huang, Yelin Mo, Roxanne Liu, Sumeet Chatterjee, Edwina Gibbs Organizations: U.S, China Integrated Circuit Industry Investment Fund, Big Fund, Washington, Information Office, Ministry of Industry, Information Technology, REUTERS, China Development Bank Capital, China National Tobacco Corporation, China Telecom, Big, Semiconductor Manufacturing International Corporation, HK, Hua Hong Semiconductor, Memory Technologies, IC, China Aerospace Investment, China Aerospace Science, Technology Corporation, Thomson Locations: HONG KONG, BEIJING, China, Beijing, U.S, Japan, Netherlands

☆ Hun Sen's son aims to make Cambodia high-income country by 2050
▼ + stars: | 2023-09-04 | by ( Kate Lamb | ) www.reuters.com time to read: +2 min

Cambodia’s Prime Minister Hun Manet attends an event to meet with garment workers on his first public appearance since taking office, on the outskirts of Phnom Penh, Cambodia, August 29, 2023. The 45-year-old last month took over power from his father Hun Sen after a lopsided general election that all opposition parties were barred from contesting. In a country once riven by decades of war, Cambodia has now evolved to a lower-middle income nation with economic growth rates of 7%, he said. Cambodia's parliament approved Hun Manet as prime minister in August. Hun Sen, one of the world's longest ruling leaders, has said he expects his son to continue his leadership style and will himself remain in politics.

Persons: Hun Manet, Cindy Liu, Monday, Hun Sen, Kate Lamb, Kanupriya Kapoor, Nick Macfie Organizations: Cambodia’s, REUTERS, Rights, Cambodian, Association of Southeast Asian Nations, ASEAN, United Nations, Thomson Locations: Phnom Penh, Cambodia, Rights JAKARTA, Cambodia's

☆ CNBC Daily Open: Why did the unemployment rate rise even as jobs were added?
▼ + stars: | 2023-09-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, the unemployment rate jumped from 3.5% last month to 3.8%, the highest since February 2022. Combined with the downwardly revised figures for June and July, those are clear signs the U.S. jobs market is slowing. Winning week for marketsU.S. stocks cheered the moderate jobs report and mostly inched up Friday, giving major indexes their best week in months.

Persons: nonfarm payrolls, Elon Musk, Tesla, JPMorgan Chase, Jeffrey Epstein JPMorgan Chase, Jeffrey Epstein, Epstein, Mimi Liu Organizations: CNBC, U.S, JPMorgan, U.S . Treasury Department, U.S . Virgin Islands, Labor Day Locations: China, Virgin, U.S

☆ U.S. expat in New Zealand was 'embarrassed' this moving cost tripled his budget—but has no regrets
▼ + stars: | 2023-09-03 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Since the early 2000s, he and his wife, Karen, traveled to New Zealand for vacation. But one other major expense caught them by surprise: bringing along their two dogs, Xena the Warrior Princess and Buffy the Vampire Slayer. Jon Kroll"I cannot emphasize enough how important it is, if you plan to bring animals with you, to make that part of your early planning process," Kroll tells CNBC Make It. And it's an expensive process, at that. "But once we retrieved Buffy and Xena from quarantine, our house instantly felt like a home."

Persons: Jon Kroll's, Kroll, Karen, Wellington, Buffy, Jon Kroll, I'm Organizations: CNBC Locations: New Zealand, Los Angeles, LA, Wellington

CNN —Billionaire businessman Terry Gou has resigned from the board of directors of Foxconn, the world’s largest electronics manufacturer, days after announcing his bid for Taiwan’s presidency. A self-made, septuagenarian billionaire with a net worth of $6.8 billion, the 72-year-old Gou founded Foxconn, established as Hon Hai Precision Industry in Taiwan in 1974. It grew to become an international business empire and one of the world’s largest electronics contract manufacturers. Taiwan’s presidential election, due in January, comes at period of fraught tensions between the island of 24 million people and its superpower neighbor, China. Taiwan’s presidential election is expected to take place on January 13, 2024.

Persons: Terry Gou, “, ”, Gou, Young Liu Organizations: CNN —, Foxconn, Taiwan’s, CNN, Hai Technology Group, Hai Precision Industry, Apple, Kuomintang, Democratic Progressive Party Locations: Taiwan, China

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