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☆ Asia's factory activity weakens, China's rebound offers some hope
▼ + stars: | 2023-09-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While the rebound in China's factory conditions say be a sign official efforts to revive growth is starting to have some effect, manufacturing activity in most of Asia remained stagnant in August. "It's unlikely we'll see a sharp, quick rebound in China's economy. Asia has been among the few bright spots in the global economy, though persistent weakness in China cloud the outlook. It expects China's economy to expand 5.2% this year after a 3.0% increase in 2022. Factory activity also contracted in Taiwan, Malaysia and the Philippines last month, with Indonesia the outlier with a modest expansion, surveys showed.

Persons: Siyi Liu, Toru Nishihama, Leika, Shri Navaratnam Organizations: REUTERS, PMI, P Global, Dai, Research, International Monetary Fund, Jibun Bank, Thomson Locations: Dezhou, Shandong province, China, Japan, Korea, TOKYO, Asia, South Korea, Taiwan, Malaysia, Philippines, Indonesia

☆ USVI says JPMorgan notified Treasury of more than $1 billion in suspicious Jeffrey Epstein transactions after he died: Report
▼ + stars: | 2023-09-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

"JPMorgan was a full-service bank for Jeffrey Epstein's sex trafficking," Liu said at the hearing, Bloomberg reported. Epstein, 66, killed himself in a New York jail in August 2019, a month after he was arrested on federal child sex trafficking charges. In addition to a residence in Manhattan, Epstein owned a private island in the Virgin Islands, where he was accused of sexually abusing women. A lawyer for JPMorgan, which denies wrongdoing in the case, pushed back against the Virgin Islands claims that it should be found liable for abetting Epstein's abuse of women. The Virgin Islands is seeking at least $190 million in damages in the case, which will go to trial on Oct. 23 if Rakoff does not grant summary judgment to either side.

Persons: Jeffrey Epstein, Rick Friedman, JPMorgan Chase, Epstein, Mimi Liu, Jed Rakoff, Liu, Jeffrey Epstein's, Epstein's Organizations: Corbis, Getty, JPMorgan, Treasury Department, U.S . Virgin Islands, Daily, Virgin, Bloomberg, Virgin Islands Locations: Cambridge, Virgin, U.S, Manhattan, Florida, New York

☆ JPMorgan processed more than $1 bln for Epstein, US Virgin Islands says
▼ + stars: | 2023-09-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Caitlin Ochs//File Photo Acquire Licensing RightsNEW YORK, Aug 31 (Reuters) - A lawyer for the U.S. Virgin Islands said on Thursday that JPMorgan Chase (JPM.N) told U.S. authorities it processed more than $1 billion for Jeffrey Epstein over 16 years. The U.S. Virgin Islands, where Epstein owned two private islands, is suing JPMorgan for at least $190 million and likely much more, saying it ignored red flags that Epstein was running a sex trafficking operation because he was a lucrative client. JPMorgan has denied knowing that Epstein was running a sex trafficking operation, and has faulted the territory for having a cozy relationship with him. "JPMorgan was a full service bank for Jeffrey Epstein's sex trafficking," Liu said. Ellsworth also disputed the U.S. Virgin Islands' claim that JPMorgan obstructed investigations into Epstein, saying the bank had asked federal authorities about their own probes into his conduct.

Persons: Caitlin Ochs, U.S . Virgin Islands, JPMorgan Chase, Jeffrey Epstein, Mimi Liu, Epstein, Liu, Jed Rakoff, Jeffrey Epstein's, Felicia Ellsworth, Ellsworth, Rakoff, Rakoff preliminarily, Luc Cohen, Noeleen Walder, Grant McCool Organizations: JPMorgan Chase Bank, REUTERS, U.S . Virgin, JPMorgan, U.S, U.S . Treasury Department, Reuters, Treasury, U.S ., Department, Deutsche Bank, Thomson Locations: New York City, U.S, U.S . Virgin Islands, Manhattan, New York

☆ US FTC secures settlement with ICE, Black Knight over $11.7 bln deal
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A screen displays the logo for Black Knight on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsAug 31 (Reuters) - The U.S. Federal Trade Commission (FTC) on Thursday said it had secured a settlement resolving antitrust concerns over NYSE-owner Intercontinental Exchange's (ICE.N) proposed purchase of data vendor Black Knight (BKI.N). The proposed settlement ensures Black Knight's divestiture of Empower and Optimal Blue, two businesses that provide services in the mortgage origination process, the FTC said. Black Knight said in mid-July it would sell its Optimal Blue business for $700 million. Optimal Blue provides data and technology to price and trade mortgages.

Persons: Knight, Brendan McDermid, Henry Liu, Joe Biden, Jasper Ward, David Ljunggren, Cynthia Osterman, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, U.S . Federal Trade Commission, NYSE, Intercontinental, FTC, Competition, Constellation Software, Constellation Web Solutions, ICE, Thomson Locations: New York City, U.S, FTC's

In Guangdong Province, on China’s southern coast, a woman posted a photo of a boxed-up Japanese-brand air-conditioner that she planned to return in protest. In southwest China, the owner of a Japanese pub posted a video of himself ripping down anime posters and smashing bottles, saying he planned to reopen the business as a Chinese bistro. In many social media posts like these, the phrase “nuclear-contaminated wastewater” has appeared — the same wording used by the Chinese government and state media to refer to Japan’s release into the ocean of treated radioactive water from the ruined Fukushima Daiichi nuclear power plant. Even before Japan started pumping out the first tranche of more than a million tons of wastewater last week, China had mounted a coordinated campaign to spread misinformation about the safety of the release, stirring up anger and fear among millions of Chinese.

Locations: Guangdong Province, China, Japan

☆ Morning Bid: Asia kicks off September with eyes on Beijing
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. REUTERS/Siyi Liu/File Photo Acquire Licensing RightsSept 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Recent policy decisions and other steps taken by Beijing and Chinese firms to jump start investor sentiment and support local markets has had an effect. Chinese stocks this week posted back-to-back gains of 1% or more for the first time since January. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Siyi Liu, Stephen Culp, Josie Kao Organizations: REUTERS, PMI, Thomson, Reuters Locations: Dezhou, Shandong province, China, Shanghai, Beijing, South Korea, Australia

☆ This New Zealand city is trying to recruit Americans—what it's actually like to move there
▼ + stars: | 2023-08-31 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

If you've ever dreamt about moving abroad, the capital city of New Zealand just made it easier. Wellington tends to attract early-career workers and those in search of a better balance, Allen says: "Here, people are more relaxed in their work life. Jon Kroll moved from LA to Wellington, New Zealand, in 2022. New quality of life boost is 'off the charts'Kroll says the cost of living is pretty comparable to life in LA. Want to be smarter and more successful with your money, work & life?

Persons: John Allen, Allen, That's, Wellington Jon Kroll, Jon Kroll, Karen Kroll Kroll, Karen, Kroll, Warren Buffett Organizations: New Zealand, U.S, FIFA, WellingtonNZ, Wellington Locations: New Zealand, Wellington, Australia, LA, Los Angeles, Wellington , New Zealand

☆ Exclusive: Chinese exporters using currency swaps to retain dollars as yuan sags
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +5 min

The swaps allow exporters to place their dollars with banks and get yuan instead, but through a contract that will eventually reverse the flows and give them back their dollars. However, while they remove a much-needed source of dollar supplies into spot yuan markets, analysts reckon Chinese monetary authorities can't really force exporters to convert dollars. When exporters swap higher-yielding dollars for the cheaper yuan for even 3 months, they get local currency for business needs and also earn a pick-up of an annualised 3.5% on the swap deal. "By trading FX swaps, exporters can postpone their settlements while meeting their yuan demand," said Becky Liu, head of China macro strategy at Standard Chartered Bank. Exporters' swaps, meanwhile, give state banks a pile of dollars to use in their yuan operations, in which they can undertake swaps to acquire the dollars from the onshore forwards market and sell them in the spot market to stem fast yuan declines.

Persons: Dado Ruvic, Ding, Gary Ng, Becky Liu, Jindong Zhang, Winni Zhou, Tom Westbrook, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, U.S, Federal Reserve, Asia Pacific, Traders, Administration of Foreign Exchange, Standard Chartered Bank, China Merchants Bank, Thomson Locations: Rights SHANGHAI, SINGAPORE, U.S, Shanghai, China, Natixis, Singapore

☆ Philippines, Taiwan, Malaysia reject China's latest South China Sea map
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

It was not immediately clear whether the latest map denotes any new claim to territory. Its Malaysian counterpart in a statement said the new map holds no binding authority over Malaysia, which "also views the South China Sea as a complex and sensitive matter". The map was different to a narrower version submitted by China to the United Nations in 2009 of the South China Sea that included its so-called "nine-dash line". Asked about the latest map, Taiwan foreign ministry spokesperson Jeff Liu said Taiwan was "absolutely not a part of the People's Republic of China". "China's position on the South China Sea issue has always been clear.

Persons: legitimise, Jeff Liu, Wang Wenbin, Karen Lema, Ben Blanchard, Liz Lee, Martin Petty Organizations: Philippine Coast Guard, Malaysian, United Nations, South China, China Central Television, Thomson Locations: Thitu, Philippines, Spratly Islands, China, Malaysia, Taiwan, South China, Beijing, Hainan, Vietnam, Brunei, Indonesia, Philippine, South, People's Republic of China, India, Manila, Taipei

The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS), the country's biggest lender, and Bank of China (BoC) (601988.SS) posted in exchange filings first half profit growth of 1.2% and 0.78%, respectively, from a year earlier. "There are some regional risks that have begun to emerge," Liu said, adding that asset quality has declined slightly but remains under control. BoC's NIM narrowed to 1.67% at end-June from 1.7% at end-March. "Chinese banks are likely to continue to face earnings pressure from margin compression," said Ming Tan, director at S&P Global Ratings.

Persons: Florence, Liu Jiandong, Liu, NIM, BoC's NIM, ICBC, Ming Tan, Tan, BoC's, Ziyi Tang, Engen Tham, Selena Li, Muralikumar Anantharaman, Mark Potter, Kirsten Donovan Organizations: Industrial, Commercial Bank of China, REUTERS, BoC, Commercial Bank of China Ltd, Bank of China, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, HONG KONG, ICBC's

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. She is pressing China to take actions to improve business conditions. That sentiment was echoed by Jens Eskelund, president of the European Union Chamber of Commerce in China, who said "'uninvestible' is not a term we would use to describe China", instead describing it as "under-invested."

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Jens Eskelund, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Nicoco Chan, Jason Xue, Joe Cash, Martin Quin Polland, Lun Tian, Laurie Chen, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, U.S . Commerce Department, Global, American Chamber of Commerce, European Union Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Raimondo is in Shanghai on Wednesday for the last day of meetings before returning to the United States. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. Michael Hart, president of the American Chamber of Commerce in China, said businesses had been "very clear" in making their concerns known to the Chinese government.

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Chan, Jason Xue, Joe Cash, Martin Quin Polland, Tian, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, Commerce Department, Global, American Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

☆ Meta rejects recommendation to suspend former Cambodia PM from Facebook
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

Hun Sen speaks at a press conference at the National Assembly after a vote to confirm his son, Hun Manet, as Cambodia's prime minister in Phnom Penh, Cambodia, August 22, 2023. Meta, in a written statement, agreed to take down the video but said it would respond to the board's recommendation to suspend Hun Sen after a review. Cambodia barred the 22-member oversight board from the country, declaring the recommendation was "political" in nature. Hun Sen remains influential in Cambodia and after stepping aside vowed to stay in politics for at least another decade. Cambodia's Ministry of Post and Telecommunications on its Facebook page on Tuesday "congratulated" Facebook for its decision and reiterated that the Meta oversight board was still unwelcome.

Persons: Hun Sen, Hun Manet, Cindy Liu, Hun, Fanny Potkin, Martin Petty Organizations: National Assembly, REUTERS, Meta, Cambodian People's Party, Facebook, Cambodia's Ministry of Post, Telecommunications, Thomson Locations: Phnom Penh, Cambodia

☆ Under new Biden proposal, salaried workers earning up to $55,000 per year could get overtime pay
▼ + stars: | 2023-08-30 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

Some 3.6 million salaried workers may soon be able to earn overtime pay, according to a new proposal from the Biden administration. Currently, overtime pay applies primarily to hourly workers who log more than 40 hours in one week. The new proposal raises that threshold so non-hourly professionals can earn overtime if they earn less than $55,068 per year, or $1,059 per week. Roughly 15% of salaried workers are now entitled to overtime pay, the AP reports citing data from the Economic Policy Institute. If the new rule passes, nearly 30% of salaried workers would become eligible for overtime, though that's far lower than the 60% of salaried workers who were entitled to overtime pay in the 1970s, per the EPI.

Persons: Biden, Jessica Looman, Obama, Trump, Warren Buffett Organizations: Labor, Economic, Institute, Federal Register, Labor Department, Republicans Locations: U.S, New York, California

Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed. But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed. "But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs," Mitchell said. The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG. Philippines 1.3% grade ore landed at China's Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed.

Persons: Antara, Aneka, Tsingshan, Wood Mackenzie, Andrew Mitchell, Mitchell, Mai Nguyen, Siyi Liu, Fransiska, Enrico dela Cruz, Dominique Patton, Kim Coghill Organizations: PT Vale Indonesia, REUTERS Acquire, Nickel, Tsingshan Group, Study, Imports, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Philippines, Jakarta, Morowali, China, China's, Hanoi, Beijing, Manila

☆ 'Ahsoka' Episode 3 recap: 'Time to Fly' takes a big jump toward the 'Star Wars' show's future (SPOILERS)
▼ + stars: | 2023-08-30 | by ( Brian Lowry | ) edition.cnn.com time to read: +2 min

Editor’s Note: The following contains spoilers about the third episode of “Ahsoka,” “Time to Fly.”CNN —After a somewhat sluggish start, “Ahsoka” felt much more on target as its third episode continued to draw upon “Star Wars Rebels” lore while mixing in abundant action and paying its respects to the original trilogy. The interactions between Ahsoka (Rosario Dawson) and Sabine (Natasha Liu Bordizzo), in particular, echoed the early training of Luke Skywalker by Obi-Wan Kenobi, and offered a reminder that the past and future of “Star Wars” run straight through the Jedi order. For her part, Hera (Mary Elizabeth Winstead) was left to grapple with the myopia of the New Republic leadership to the lingering imperial threat. Whatever the numbers, “Ahsoka” now feels as if it’s more solidly building toward its larger narrative at a brisker pace. Keep doing that, and the ratings – however you choose to measure them – should take care of themselves.

Persons: “, Ahsoka ”, Rosario Dawson, Sabine, Natasha Liu Bordizzo, Luke Skywalker, Obi, Wan Kenobi, Thrawn, Ezra Bridger, Mary Elizabeth Winstead, didn’t Organizations: CNN, “ Star Wars Rebels, “, “ Rebels, New, Disney Locations: New Republic

☆ In China, Raimondo says US will prioritise national security, does not seek decoupling
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - The United States will put national security concerns first but does not seek to decouple from China, Commerce Secretary Gina Raimondo told China's Vice Premier He Lifeng at a meeting on Tuesday. "While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China's economy back," Raimondo said during opening remarks in Beijing's Great Hall of the People. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Earlier on Tuesday, Raimondo and Tourism Minister Hu Hepin agreed to hold the 14th China-U.S. Tourism Leadership Summit in China in the first half of 2024. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, Biden, " Raimondo, Xi Jinping, Liu, Raimondo, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, United States, decouple, Beijing's, U.S, Seattle, Shanghai, Washington

A record 38 QDII funds had been launched this year until August 17, outpacing the 31 funds launched in 2022, Morningstar data shows. Tianhong, which is planning new QDII products, obtained a $120 million fresh QDII quota in July, less than it had hoped for. Rather than foreign capital selling China equities, this time it's Chinese investors’ outbound investment,” Liu said. HUGE DEMANDThe QDII program, launched in 2006, remains a key outbound investment channel for mainland Chinese investors, alongside the Qualified Domestic Limited Partnership (QDLP) programme. Tracy Liu, an individual investor working in the information technology industry, invested in an India-focused QDII fund in March.

Persons: Aly, Ivan Shi, Liu Dong, Becky Liu, Liu, ” Liu, Desiree Wang, Tracy Liu, Summer Zhen, Samuel Shen, Jason Xue, Vidya Ranganathan Organizations: REUTERS, Morningstar, Domestic Institutional, Nasdaq, Ben Advisors, Connect, Bond, U.S, Dow Jones, State Administration of Foreign Exchange, Tianhong, Management, Ant Financial, Standard Chartered Bank, Reuters, Qualified Domestic Limited, Asset Management Association of China, Guangfa NASDAQ, Technology, Morgan Asset Management, Morgan Asset Management China, Thomson Locations: Shanghai, Shenzhen, China, U.S, HONG KONG, SHANGHAI, Hong Kong, Vietnam, India, outflows, Japan, Russia

☆ US commerce chief meets Chinese premier in Beijing
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo and Chinese Vice Premier He Lifeng head to their seats for a meeting at the Great Hall of the People in Beijing, China, Tuesday, August, 29, 2023. Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - U.S. Commerce Secretary Gina Raimondo met China's Premier Li Qiang in Beijing on Tuesday, her second full day of talks with top Chinese leaders on balancing business ties and national security concerns. Earlier on Tuesday, Raimondo told China's economy tsar and her direct counterpart, He Lifeng, that the U.S. does not seek to decouple from its geopolitical rival. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, China's, Li Qiang, Raimondo, Biden, Xi Jinping, Liu, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, U.S, Seattle, United States, Shanghai, Washington

☆ 70% of college seniors with student debt say looming repayments will impact their career plans
▼ + stars: | 2023-08-29 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Many of today's college undergrads have gone through school knowing student loan payments were on pause indefinitely and the prospect of widespread cancelation was closer to becoming reality than ever. Just over half of next year's college graduates expect to carry student loan debt, and within that group, almost 70% say their debt will influence the jobs they consider after graduation, according to Handshake's latest report that surveyed 1,148 students in the class of 2024. A remaining 17% of students said their college debt would not impact their career choices after school, and 14% said they are neutral on the matter. As a result, many students say finding a job with a high salary and with a company that offers attractive benefits, like student loan repayment benefits, are all "top of mind," Williams tells CNBC Make It. Young workers with debt also want flexibility in where and when they work, though many say it goes beyond the matter of preference.

Persons: cancelation, Handshake's, Monne Williams, Williams, they've Organizations: CNBC

☆ Working on vacation can make you a bad co-worker—here's how to avoid it: 'It creates more harm than good'
▼ + stars: | 2023-08-29 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Americans are pretty bad about unplugging from work while on vacation, and some of the youngest professionals have an especially tough time of it. Some 35% of Gen Z workers say they feel guilty not working when they're on vacation, versus the 29% U.S. average across age ranges, according to LinkedIn's latest Workforce Confidence Index, based on a survey of 9,461 U.S. professionals this summer. But working on vacation can send the wrong message to your boss and co-workers. Working on vacation can make you a bad co-workerSamm Samujh, 30, is an executive coach based in New York City and felt those pressures early on in her career. "If you're telling people you're on vacation for two weeks and ask for coverage, then while you're out you're emailing them, it causes confusion and creates more harm than good," she says.

Persons: they're, George Anders, LinkedIn's, Samm Samujh, Samujh, Anders Organizations: CNBC Locations: New York City

☆ China communications firm Guodong raises $150 mln from Middle Eastern sovereign fund
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Guodong Network Communication Group, a Chinese communications infrastructure and service provider, has raised $150 million from a Middle Eastern country's sovereign wealth fund, the deal's adviser China Renaissance said on Tuesday. The statement did not identify the sovereign wealth fund. A China Renaissance spokesperson declined to comment, while Guodong didn't immediately respond to a Reuters request to comment. Guodong, founded in 1997, has 40,000 communications base stations and provides data centres that can support cloud computing in China, according to its website. It has received funds from investors including Morgan Stanley, the investment arms of top Chinese investment banks CICC and CITIC and a sovereign wealth fund from Abu Dhabi, said the website.

Persons: Guodong didn't, Ji Xiaoling, Morgan Stanley, Roxanne Liu, Kane Wu, Rashmi Organizations: Communication, China Renaissance, Thomson Locations: Eastern, China, U.S, Abu Dhabi

☆ Soaring youth joblessness is driving record-setting enrollment at China's military academies
▼ + stars: | 2023-08-29 | by ( Jack Lau | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Total intake at China's military academies is the highest since 2017 and 2,000 more than last year. The total intake — spread across China's 27 military academies that accept high-school graduates — was 2,000 more than last year, the People's Liberation Army (PLA)'s official newspaper reported on Tuesday. Almost all places for this cohort had been filled, the PLA Daily report said. STR/AFP via Getty ImagesThe Central Military Commission — China's top military command, chaired by President Xi Jinping — announced the new standards in March. AdvertisementAdvertisementHowever, China's military academies offer far more places for men than for women.

Persons: —, Chen Bin, Xi Jinping —, Air Defence —, Xi, Liu Yang, Zhu Yuemeng, Dong Jun Organizations: Service, People's Liberation Army, PLA, Getty, PLA Daily, Military Commission, PLA Army Academy of Artillery, Air Defence Locations: Wall, Silicon, Beijing, Huainan, Hefei, Shandong, China, Liaoning

☆ China is more concerned about geopolitical issues than its stock market: Asset management firm
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is more concerned about geopolitical issues than its stock market: Asset management firmYang Liu of Atlantis Investment Management says the Chinese government has "too many international issues they have to handle."

Persons: Yang Liu Organizations: China, Atlantis Investment Management

☆ Chinese stocks get brief uplift from first share dealing tax cut since 2008
▼ + stars: | 2023-08-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has made a series of moves to restore investor confidence in the world’s second largest economy, including cutting a tax on stock trading for the first time since 2008. Foreign investors dumped billions of dollars worth of Chinese stocks over the past few weeks as the prospects for the economy dimmed. The announcements boosted Chinese stocks on Monday. Separately on Sunday, the China Securities Regulatory Commission (CSRC) the country’s top securities watchdog, also unveiled several measures to “boost investor confidence” in the sagging stock market. Chinese stock markets have declined sharply in recent weeks, as investors fretted about a worsening slowdown in the world’s second largest economy and its real estate crisis.

Persons: ”, Chris Liu, ” Liu, Ken Cheung, Seng Organizations: Hong Kong CNN, Ministry of Finance, State Administration of Taxation, China Securities Regulatory Commission, Hong Kong’s Stock Connect, China’s, Mizuho Bank, Shanghai Locations: Hong Kong, China, Beijing, Shanghai, Shenzhen, China’s Shanghai

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