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☆ Ex-Samsung Elec executive indicted over alleged data theft for China factory
▼ + stars: | 2023-06-12 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

SEOUL, June 12 (Reuters) - South Korean prosecutors said they indicted a former Samsung Electronics (005930.KS) executive on Monday on suspicion of stealing the company's technology to build a chip factory in China. He worked a combined 28 years at the South Korean chipmakers, prosecutors said. The attempt to build the new plant using Samsung data, however, ended in failure due to funding issues, a prosecutor said. South Korean President Yoon Suk Yeol has described competition in the industry as an "all-out war" amid heightened Sino-U.S. tensions. South Korea's Samsung and SK Hynix, the world's top two makers of memory chips, have invested billions of dollars in chip factories in China.

Persons: Prosecutors, Yoon Suk, 1,291.7700, Soo, hyang Choi, Raju Gopalakrishnan, Jason Neely Organizations: Samsung Electronics, SK Hynix, Samsung, Prosecutors, Reuters, Korea's Samsung, Thomson Locations: SEOUL, China, Xian, Suwon, Korean, South Korea, U.S

☆ Ukraine's Zelenskiy vows action on air raid shelters
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - President Volodymyr Zelenskiy expressed unhappiness on Monday at results of an inspection he ordered into all Ukrainian shelters after three people were killed when they were unable to access one during a Russian air strike in Kyiv. In his nightly video address, Zelenskiy said he had received summary reports on the shelters' "preparedness and unpreparedness" from Interior Minister Ihor Klymenko, Oleksandr Kamyshyn, the minister for strategic industries, and Deputy Prime Minister Oleksandr Kubrakov. The deaths on June 1 caused a public outcry and a promise by Zelenskiy of a harsh response, which appeared aimed at Kyiv Mayor Vitali Klitschko, who has clashed with him before. Kamyshin said on June 4 that nearly half of Kyiv bomb shelters inspected during an initial audit were closed or unfit for use. Reporting by Elaine Monaghan; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Volodymyr Zelenskiy, Zelenskiy, Ihor Klymenko, Oleksandr Kamyshyn, Oleksandr Kubrakov, Vitali Klitschko, Klitschko, Kamyshin, Elaine Monaghan, Stephen Coates Organizations: Kyiv, Thomson Locations: Kyiv

☆ Giant rubber duck deflated in Hong Kong’s harbor amid fierce heat
▼ + stars: | 2023-06-10 | by ( Sophie Tanno | ) edition.cnn.com time to read: +2 min

CNN —One of two giant rubber ducks on display in Hong Kong’s Victoria Harbor was deflated on Saturday to protect it from sweltering temperatures. “Today, we originally planned to bring my child to see the yellow duck. “So, she was super sad, because she can see just only one.”Dutch artist Florentijn Hofman’s “Rubber Duck” initially appeared in Victoria Harbor a decade ago. “Double duck is double luck,” artist Hofman said in a statement. “The work emphasizes friendship and getting connected … ‘Double Ducks’ is not about looking into the past but enjoying the moment together!”

Persons: Florentijn, Hofman Organizations: CNN, Locals, Hong, Ducks Locations: Hong, Victoria, Hong Kong, Thailand, Victoria Harbor, France, Osaka, Sydney, Sao Paolo, Victoria Harbour

☆ SEC Chair Gensler says crypto frenzy is rife with 'hucksters, fraudsters, scam artists'
▼ + stars: | 2023-06-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Speaking remotely at the Piper Sandler Global Exchange and FinTech Conference in New York City, Gensler said most crypto tokens are securities and come under the purview of the SEC. "The crypto securities markets should not be allowed to undermine the well-earned trust the public has in the capital markets," Gensler said. Thus, crypto security issuers need to register the offer and sale of their investment contracts with the SEC or meet the requirements for an exemption." "Given that most crypto tokens are subject to the securities laws, it follows that most crypto intermediaries have to comply with securities laws as well," he said. Gensler made no reference to allegations by Binance's lawyers that he offered to be an advisor to the crypto exchange in 2019.

Persons: Gary Gensler, Evelyn Hockstein, Piper Sandler, Gensler, Binance, Rich, Rich Repetto, Piper Organizations: . Securities, Exchange Commission, SEC, Banking, Housing, Urban Affairs Committee, Capitol, Reuters, Securities, Exchange, Piper, Piper Sandler Global Exchange, FinTech Conference, Twitter, Massachusetts Institute, Technology's Sloan School of Management Locations: Washington, New York City

☆ Prehistoric cave paintings discovered in Spain using drones
▼ + stars: | 2023-06-07 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Archaeologists in Spain have discovered prehistoric paintings in hard-to-reach caves in the east of the country using drone technology. The use of drones allowed researchers to quickly gather evidence of previously unseen cave paintings dating from 5,000- 7,500 years ago, according to a statement from the team at the University of Alicante, Spain. A cave painting of deer found using drones. Courtesy Javi MolinaExploring new heightsResearchers came up with the idea of using drones because “on many occasions we have risked our lives to access cavities located in rugged geographical areas,” Molina told CNN Tuesday. “Secondly, the discovery of new cave paintings in this type of cave indicates that prehistoric man developed sophisticated means of climbing, perhaps by means of ropes or wooden scaffolding,” said Molina.

Persons: Javi Molina, ”, Francisco Javier Molina Hernández, Hernández, Virginia Barciela, ” Molina, Molina Organizations: CNN, University of Alicante, ”, Indiana Locations: Spain, Penàguila, Alicante, Valencia, Portugal, Europe

☆ Bank of Korea: less desirable to increase gold holdings at this point
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 6 (Reuters) - The Bank of Korea (BOK) assesses it is more desirable to maintain its dollar liquidity than to increase gold holdings for foreign exchange reserves at this point, the central bank said. "A cautious approach is necessary for determining whether to increase the ratio of gold in the foreign exchange reserves," the BOK's Reserve Management Group said on Tuesday. The BOK released the gold management policy along with the results of its first inspection of gold holdings on May 23. It said the inspection at the Bank of England, where all of its gold holdings are stored, concluded without any major concerns other than some simple errors in refiner marks on three gold bars, which it said are frequent. The Bank of Korea holds 104.4 tonnes of gold in its foreign exchange reserves, or $4.8 billion, which account for 1.14% of its total $421 billion in reserves as of the end of May.

Persons: BOK, Jihoon Lee, Gerry Doyle Organizations: Bank of Korea, BOK's Reserve Management, Bank of England, Thomson Locations: SEOUL, London

☆ Opinion | An Endgame for Ukraine
▼ + stars: | 2023-06-06 | by ( Bret Stephens | ) www.nytimes.com time to read: +2 min

The Kremlin may try to encourage this line of thinking by again rattling its nuclear saber, this time even louder. The reason Putin hasn’t used tactical nuclear weapons in this war thus far isn’t because of moral scruples that might vanish if he feels cornered. As for Ukraine, it would have to become a garrison state even as its economy has been crippled by the war. The goal has been both hindered and advanced by President Biden’s fluctuating willingness to provide Kyiv with the tools it needs to win. It has also been stymied by his own ambivalence about the outcome he really desires, other than to not let Russia win and to not blow up the world in the process.

Persons: Putin, Putin hasn’t, Biden, Biden’s Organizations: Russia Locations: Russia, Ukraine, South Korea, North Korea

☆ UK government challenge to COVID inquiry to be heard around end-June - lawyer
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Henry NichollsLONDON, June 6 (Reuters) - The British government's legal challenge to the COVID-19 public inquiry will likely be heard on June 30 or shortly afterwards, the counsel to the inquiry said on Tuesday. The government has refused to hand over internal WhatsApp messages it has described as "unambiguously irrelevant" to the inquiry, and has sought a judicial review at London's High Court against the demand. A judicial review is a legal challenge to the lawfulness of a decision by a public body, including a public inquiry. Johnson has offered to hand over his WhatsApp messages to the inquiry directly, rather than through the government, which has withheld some messages and has redacted others. Keith said that the inquiry had liaised with Johnson over the inspection of his unredacted messages.

Persons: Henry Nicholls LONDON, Hugo Keith, Keith, Boris Johnson, Rishi Sunak, Johnson, Alistair Smout, Sarah Young, William Maclean Organizations: REUTERS, British, London's, Britain, Thomson Locations: United Kingdom, London, Britain

☆ Ports in China's oil hub Shandong scrutinizing old tankers -sources
▼ + stars: | 2023-06-05 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

Qingdao and Lanshan are two of the top five biggest Chinese oil importing ports, according to data from Kpler. Shandong is home to numerous independent refineries known as teapots that account for up to one-fifth of China's processing capacity. Port authorities could detain ships for days to rectify any issues, prompting shippers to divert cargoes to other Chinese ports, the sources said. Almost all tankers hauling crude to Qingdao for independent refiners are more than 10 years old, said Vortexa analyst Emma Li. In April, tankers calling at Shandong ports experienced delays after customs authorities stepped up checks on diluted bitumen cargoes.

Persons: Seapalm, Emma Li, Eikon, Muyu Xu, Florence Tan Organizations: Kpler, Shandong Maritime Safety Administration, Reuters, Seapalm Shipping, Thomson Locations: SINGAPORE, China's Shandong, Qingdao, Rizhao, Lanshan, Shandong, Tokyo, Cameroon, Seychelles, Jiangsu, Hebei, Liaoning, Beijing

☆ China's top investment bank CITIC cuts base salary by up to 15% -sources
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

HONG KONG/BEIJING, June 5 (Reuters) - China's CITIC Securities is cutting pay across its investment banking division, lowering base salaries by up to 15%, two sources said, in a rare move in the country's financial sector as Beijing pushes to bridge income disparity. The country's top investment bank by market value has also yet to pay bonuses to bankers for work done last year, the two sources close to the matter said. China's well-heeled financial dealmakers over the past year have been getting a crash course in austerity with pay cuts and perks reined in as their state-owned employers respond to the "common prosperity" drive. CITIC Securities' domestic rival China International Capital Corp (CICC) (3908.HK) last month cut this year's bonuses for investment bankers by 30%-50% from a year earlier, said two separate sources with knowledge of the matter. Besides remuneration cuts, some investment banks have asked staff to avoid displays of wealth such as uploading photographs to social media of expensive meals or overseas trips, industry sources have said.

Persons: China's, CICC, Julie Zhu, Selena Li, Roxanne Liu, Louise Heavens, Kirsten Donovan Organizations: CITIC Securities, China International Capital Corp, HK, Reuters, China's, Thomson Locations: HONG KONG, BEIJING, Beijing, China, CICC, Hong Kong

☆ A woman was killed waiting outside a shuttered shelter in Kyiv during a Russian missile barrage, calling into question the poor state of Ukraine's air-raid shelters
▼ + stars: | 2023-06-04 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

An inspection has found nearly a quarter of Ukraine's air-raid shelters are locked or unusable. A Kyiv woman waiting at a locked shelter was hit by falling missile fragments, her husband said. Kyiv's mayor said there had been "more than a thousand" complaints about dilapidated air-raid shelters. Out of the "over 4,800" shelters, the Ukrainian interior ministry said it had inspected, 252 were locked and a 893 were "unfit for use." A criminal probe has also begun after a 33-year-old woman in Kyiv died while waiting outside a closed shelter during a Russian missile barrage on Thursday, according to the Kyiv regional prosecutor's office.

Persons: Kyiv's, —, Vitali Klitschko Organizations: Service, Kyiv, Kremlin Locations: Kyiv, Ukrainian, Ukraine, Russia

☆ Ukraine minister in 'disbelief' at closed Kyiv bomb shelters
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +1 min

KYIV, June 4 (Reuters) - A senior Ukrainian government official expressed "disbelief" on Sunday after learning that nearly half of Kyiv bomb shelters inspected during an initial audit were closed or unfit for use. President Volodymyr Zelenskiy ordered an inspection of all Ukrainian shelters on Friday, a day after three people were killed in Kyiv when they were unable to access one during a Russian air strike. "I greeted with disbelief that fact that half were open and considered ready," he wrote on the Telegram messaging app. "Yesterday, when we selectively checked the shelters in the Obolon district with our mayor, the absolute majority of the shelters were closed." Thursday's deaths caused a public outcry and a promise of a harsh response by Zelenskiy, which appeared aimed at Kyiv mayor Vitali Klitschko, who has clashed with the president before.

Persons: Volodymyr Zelenskiy, Oleksandr Kamyshin, Kamyshin, Vitali Klitschko, Klitschko, Dan Peleschuk, Nick Macfie Organizations: Thomson Locations: Ukrainian, Kyiv, Obolon, Ukraine, Russia

CNN —One month after four children vanished into the Colombian Amazon, a preliminary report by the country’s Civil Aviation Authority offers clues to how they could have survived the devastating airplane crash that killed every adult onboard. “…Mayday, Mayday, Mayday, 2803, Mayday, Mayday, Mayday, I have the engine at minimum, I’m going to look for a field,” he said. Air traffic control later tracked the plane veering right, the report said. The report says the plane likely first hit the trees of the dense forest, tearing the engine and propeller off, followed by a vertical drop to the forest floor. Two of three seats occupied by the children remained in place and upright despite the crash, according to the report, while one child’s seat came loose from the plane structure.

Persons: Hernando Murcia Morales, Herman Mendoza Hernández, Magdalena Mucutuy Valencia, “, ”, …, Dirección, Fidencio Valencia Organizations: CNN, country’s Civil Aviation Authority, Colombian, Caracol Locations: Colombian, Colombia, Araracuara

☆ Chinese star banker Bao Fan detained by country’s top anti-graft body, state media says
▼ + stars: | 2023-06-01 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The mysterious disappearance of Bao has sent a chill through financial markets and China’s tech sector. Shares in China Renaissance had plunged more than 20% until they were suspended from trading in early April. China Renaissance had previously revealed only that Bao was “cooperating in an investigation” being carried out by certain authorities in the country. The specific agencies handling Bao’s case include the CCDI’s international cooperation bureau and Beijing’s municipal anti-graft authorities, the Economic Observer said. Cong has been detained by anti-corruption authorities since September for matters related to his tenure at ICBC Financial Leasing, the Economic Observer said.

Persons: Bao Fan, Bao, didn’t, Mike Blake, dealmaker, Xi, Cong Lin Organizations: Hong Kong CNN, Economic Observer, Central Commission, CNN, Communist Party, China Renaissance, Analysts, China’s, Industrial, Commercial Bank of China, Financial Leasing Locations: Hong Kong, China, Bao, Laguna Beach , California, Dianping

☆ China Renaissance chairman's detention extended by 3 months -report
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 31 (Reuters) - The detention of Bao Fan, chairman of investment bank China Renaissance Holdings (1911.HK), has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources. Bao was taken away by disciplinary and supervision officials on February 7 and detained, the report said. China Renaissance did not immediately respond to a Reuters request for comment. Late in February, the bank said in an exchange filing that Bao, its star dealmaker, was co-operating with authorities in their investigation. Bao's disappearance in February saw shares in the investment bank plunge as much as 50%.

Persons: Bao Fan, Bao, Didi, Kuaidi, Andrew Heavens, Jason Neely Organizations: China Renaissance Holdings, HK, Central Commission, Beijing, Thomson Locations: BEIJING, Beijing, China

☆ South Korea experts say more study needed on Japan's nuclear water plan
▼ + stars: | 2023-05-31 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

[1/2] South Korea's Nuclear Safety and Security Commission Chairperson Yoo Guk-hee announce the results of their inspection of Japan's crippled Fukushima nuclear power plant during a press conference at Government Complex Building in Seoul, South Korea. South Korea's inspection team for... Read moreSEOUL, May 31 (Reuters) - South Korean nuclear safety experts who visited Japan's wrecked Fukushima nuclear power plant said on Wednesday that detailed analysis was needed to verify Japan's plan to release tonnes of contaminated water from it into the sea. The Fukushima Daiichi nuclear station, about 220 km (130 miles) northeast of Tokyo, was destroyed by a magnitude 9.0 earthquake and tsunami in 2011, triggering three reactor meltdowns. The 21-member South Korean team had focused during its six-day trip on water purification, transport and release equipment, as well as sampling and analysis facilities. The International Atomic Energy Agency is also conducting a safety review of Japan's plan to release the water.

Persons: Yoo Guk, Japan's, Yoo, Yoon Suk Yeol, Fumio Kishida, Hyonhee Shin, Robert Birsel Organizations: Safety, Security, Nuclear Safety, Security Commission, South Korean, International Atomic Energy Agency, Thomson Locations: Seoul, South Korea, SEOUL, Fukushima, Tokyo, Japan

☆ Malaysia investigating possible looting of World War II British shipwrecks
▼ + stars: | 2023-05-30 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

Police, the Malaysian Marine Department and the National Heritage Department would investigate to see if the shells are from World War II, according to the report. Authorities are investigating whether shells found on the ship are from World War II, Malaysian state media said. Murky lawSalvaging of sunken World War II wrecks around the Pacific is not a new problem. In 2017, Dutch, British and US authorities reported that naval vessels sunk in the World War II Battle of the Java Sea had been salvaged without permission. Steel from World War II shipwrecks can have special value because it is was produced before the first nuclear explosions on Earth.

☆ Opinion: Why Erdogan’s win isn’t all it seems
▼ + stars: | 2023-05-29 | by ( Opinion Ruth Ben-Ghiat | ) edition.cnn.com time to read: +8 min

In the run-up to the first round of voting, Erdogan’s interior minister, Süleyman Soylu, tellingly likened the election to the 2016 attempted coup. Off the back of Erdogan’s win, we can expect Turkey to draw even closer to Russia, which supplies more than one-third of its petroleum and oil products. So look for Erdogan to follow whatever geopolitical path benefits his Russian patron, including continued opposition to Sweden joining NATO. Erdogan’s economic policies have contributed to horrific inflation: over 80% in October, a 24-year record, and still at 44% last month. For all his bluster about modernizing Turkey, Erdogan has created an environment of fear, hostility and economic hardship.

☆ Malaysia detains Chinese ship linked to suspected illegal salvage of British WW2 wrecks
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, May 29 (Reuters) - Malaysia's maritime authorities on Monday said cannon shells believed to be from World War Two have been found on a China-registered bulk carrier ship detained at the weekend for anchoring in its waters without permission. Following reports of the illegal salvage activity, Britain's National Museum of the Royal Navy last week said it was "distressed and concerned at the apparent vandalism for personal profit" of the two wrecks. Authorities found scrap metal and cannon shells on the ship upon further checks. The shells could be linked to a separate seizure by police at a Johor jetty last week of multiple unexploded World War Two-era artillery. Reporting by Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ My Apartment Is Infested With Bugs. How Do I Make My Landlord Fix It?
▼ + stars: | 2023-05-27 | by ( Ronda Kaysen | ) www.nytimes.com time to read: 1 min

It’s possible your latest request was routed to the wrong city agency (this should be handled by the Department of Housing Preservation and Development), or you missed a call from an inspector. “There is no harm in filing multiple complaints,” said William Fowler, an HPD spokesman. While your 311 calls work their way through the system, you can file what is known as an HP proceeding in housing court. This will bring your complaint before a judge, who can order the landlord to correct the problem. You don’t need a lawyer to file a housing court case.

☆ A 30-ton shipment of explosive chemicals traveling from Wyoming to California by rail disappeared en route, officials say
▼ + stars: | 2023-05-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A 30-ton shipment of ammonium nitrate disappeared from a railcar, KQED reported. Officials are investigating the disappearance of a 30-ton shipment of ammonium nitrate, a chemical used to make both fertilizer and explosives, PBS affiliate KQED reported. A Federal Railroad Administration representative, however, told KQED that its own investigation suggested that one of the hopper car gates wasn't properly closed. Union Pacific, which transported the railcar, and the California Public Utilities Commission told KQED that they were also investigating. Dyno Nobel told KQED that it had "limited control" over the railcar while it was in transit and that it was being moved back to Wyoming for inspection.

☆ San Francisco is investigating claims made by 6 ex-Twitter staff about Elon Musk's 'Twitter hotel' plans
▼ + stars: | 2023-05-21 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

San Francisco's Department of Building Inspection said it was investigating the lawsuit's claims. San Francisco has opened a new investigation into Elon Musk's plans to alter Twitter headquarters following claims made in a lawsuit by six former employees. The former staff also described the billionaire's plans to create a "Twitter hotel" amid Musk's "hardcore" vision. After Musk took over the company in October, he converted some office space into bedrooms, prompting an investigation by San Francisco's Department of Building Inspection. Killian was asked by the "transition team" not to reveal the details of the future plans during that inspection.

☆ What to know about buying a used electric vehicle as more hit the auto sales market
▼ + stars: | 2023-05-21 | by ( Joe D'Allegro | ) www.cnbc.com time to read: +6 min

Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year. While the used EV market is still very small, the growth trajectory of EV sales means shopping for a used electric vehicle will become more common and get easier over time, and encompass more make and model choices. In many ways, shopping for a used electric vehicle is the same as looking for any other used car or truck. Electric vehicles lose value faster, but upkeep is lessEVs generally depreciate faster than ICE vehicles, according to Kelley Blue Book.

☆ DeSantis wants an Obama-appointed judge disqualified from Disney's free speech lawsuit over past remarks
▼ + stars: | 2023-05-20 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

Ron DeSantis says judge in free speech lawsuit involving Disney should be thrown out. The lawsuit alleges DeSantis violated Disney's right to free speech by retaliating for its criticism of the "Don't Say Gay" bill. DeSantis is asking that a federal judge be disqualified from the First Amendment lawsuit filed by Disney against the Florida governor. DeSantis ′ attorney filed a motion in federal court in Tallahassee on Friday seeking to disqualify U.S. District Judge Mark Walker from overseeing the lawsuit filed by Disney last month. Disney filed the First Amendment lawsuit against DeSantis and the Disney-appointed board last month in federal court in Tallahassee, and it landed in Walker's court.

☆ A residential real-estate developer shares 2 details to pay attention to when shopping for a home — and the No. 1 feature that can boost a property's value
▼ + stars: | 2023-05-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Developer Harsh Thakker explained what to look for, including small details like the trim. Pay attention to small details and the structure"The biggest thing is to look out for the details," said Thakker, including the trim and outlets. Good signs for home appreciationIn Thakker's experience, walkability is the number one feature that can boost a home's value. Right now, in Thakker's market, modern homes are more valuable than other styles, which is part of the reason his team is constructing modern homes in Chestnut Flats. "Whereas, the other one was more modern, using hardie-plank or other modern materials, and had open space and contemporary finishes.

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