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[1/2] A general view of the sun rising behind the White House in Washington, U.S. January 22, 2021. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - President Joe Biden's comment about China being a "ticking time bomb" referred to internal economic and social tensions that could have an effect on how Beijing interacts with the world, a White House official said Friday. Kirby defended the funding request, saying, "Yes, this is an urgent need for us to be able to provide an alternative." Biden told donors: "China is a ticking time bomb ... China is in trouble. Liu said China's GDP growth continued to provide an important support for the development of the global economy.
Persons: Jonathan Ernst, Joe Biden's, John Kirby, Kirby, Liu Pengyu, Biden, Liu, We've, Xi Jinping, Andrea Shalal, Michael Martina, Chris Reese, David Gregorio Our Organizations: White, REUTERS, Reuters, China's National Bureau, Statistics, Thomson Locations: Washington , U.S, China, Beijing, Utah, Washington, United States, India
The United States has described the stopovers as routine and no reason for China to take "provocative" action. Neither Taiwan nor the United States have given details of Lai's schedule on his stopovers. That includes the prospect of a visit to the United States by Chinese Foreign Minister Wang Yi, which could pave the way for a meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Taiwan believes the scale of the exercises could be smaller than those in April, the Taiwanese official said. Chinese state television this month ran an eight-part series on the People's Liberation Army, some of which focused on Taiwan.
Persons: William Lai's stopovers, Lai, Tsai Ing, Kevin McCarthy, Biden, Wang Yi, Joe Biden, Xi Jinping, China, Jeff Liu, Yimou Lee, Ben Blanchard, Liz Lee, Michael Martina, Robert Birsel Organizations: United, House, Taiwan Affairs Office, People's Liberation Army, China's Eastern Theatre Command, Reuters, Chinese Foreign, American Institute, The U.S . State Department, Thomson Locations: TAIPEI, China, Taiwan, United States, U.S, Beijing, Los Angeles, Taiwan Strait, New York, Paraguay, San Francisco, stoke, Virginia, The, Taipei, Washington
A Midea company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - Chinese home appliance maker Midea Group (000333.SZ) said on Wednesday it is studying a potential listing in Hong Kong as part of its global strategy. The new shares to be issued would account for no more than 10% of enlarged capital, Midea, already listed in the Shenzhen stock exchange, said in a filing. Midea's market capitalisation was $56.47 billion before the listing plan was made public, meaning a deal of up to 10% would be one of the largest listings in Hong Kong since 2021. The initial filing to the Hong Kong Stock Exchange would be made this year, with a likely share sale sometime in 2024, one of the sources added.
Persons: Aly, Midea, Scott Murdoch, Roxanne Liu, Kane Wu, Jason Neely, Gerry Doyle Organizations: Appliance, Electronics, REUTERS, Midea, Bank of America, China International Capital Corp, HK, Hong Kong Stock Exchange, Thomson Locations: Shanghai, China, Hong Kong, Midea, Shenzhen, Sydney
China's real estate market roiled by default fears again
  + stars: | 2023-08-10 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +6 min
Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande's debt troubles, worries about China's real estate sector are coming to the forefront again. In late July, its top leaders indicated a shift toward greater support for the real estate sector, paving the way for local governments to implement specific policies. For the last several years, Chinese authorities have attempted to curb debt-fueled speculation in the country's massive — and hot — real estate market. Real estate and related industries have accounted for about a quarter of China's economy. He pointed out that since China started its deleveraging campaign in 2016, it is very unlikely the state would step in to bail out real estate developers.
Persons: Qilai Shen, Dalian Wanda, Liu Haibo, Sandra Chow, Nomura, Chow, Evergrande, Redmond Wong, , Wong, Vanke, that's Organizations: Country Garden Holdings Co, Bloomberg, Getty, BEIJING, Reuters, CNBC, Country, Asia Pacific Research, CreditSights, Fitch, Saxo Markets Hong, China's, House Research, Stock, Poly Development, Research Locations: Baoding, Hebei province, China, Dalian, Hong Kong, Beijing, Saxo Markets Hong Kong
The Chan Zuckerberg Initiative conducted layoffs this week, in a major blow to its education team. However, the cuts were entirely focused on employees in tech and grantmaking in CZI's education department, a core pillar of the organization's since its founding. As part of the changes, two leaders in CZI's education work are leaving their roles. While today's announcement most directly impacts our Education teammates, I know we are all affected regardless of where we sit in the organization. I am grateful for all of our Education teammates, past and present, whose contributions made our accomplishments to-date possible and carved our path forward.
Persons: Chan Zuckerberg, Priscilla Chan, Mark Zuckerberg, Zuckerberg, Chan, Brooke Stafford, CZI's, Dakarai Aarons, Sandra Liu Huang, Huang, CZI, Slack, Brizard, Brooke, Dakarai, Sandra, Priscilla Organizations: Chan Zuckerberg Initiative, Meta, CZI, Facebook, Education Policy Center, University of Colorado, Education, People Team Locations: Meta, Boulder
"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."
Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru
Customers select tomatoes at a stall inside a morning market in Beijing, China August 9, 2023. The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday, compared with the median estimate for a 0.4% decrease in a Reuters poll. The producer price index (PPI) declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Beijing has set a consumer inflation target of around 3% this year, which would be up from 2% recorded in 2022, and for now, authorities are downplaying concerns about deflation.
Persons: Wang, Japan’s “, , Gary Ng, Liu Guoqiang, Xia Chun, Tommy Wu, Wu Organizations: REUTERS, National Bureau of Statistics, , Asia Pacific, Natixis, Commerzbank Locations: BEIJING, Beijing, China, Asia, Brazil, Japan, Hong Kong
China swings into deflation as recovery falters
  + stars: | 2023-08-09 | by ( Reuters Staff | ) www.reuters.com   time to read: +4 min
BEIJING (Reuters) -China’s consumer prices fell into deflation in July, while factory gate prices extended their declines, as the world’s second-largest economy struggled to revive demand and pressure mounted for authorities to release more direct stimulus. FILE PHOTO: Staff sort fruits at a Walmart in Beijing, China, September 23, 2019. China’s economic recovery slowed after a brisk start in the first quarter, as demand at home and abroad weakened. “Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation,” said Xing Zhaopeng, senior China strategist at ANZ. Otherwise, economic data showing some growth improvement is required, which is not coming through yet.”JAPAN-STYLE DEFLATION?
Persons: Tingshu Wang, , , Xing Zhaopeng, Xing, Frances Cheung, Japan’s “, Liu Guoqiang Organizations: Walmart, REUTERS, National Bureau of Statistics, Authorities, CPI, PPI, ANZ, , OCBC Bank, NBS, Investors Locations: BEIJING, Beijing, China, Shanghai, Singapore, JAPAN, Brazil
The Return of Manual-Wind Watches
  + stars: | 2023-08-09 | by ( Ming Liu | ) www.nytimes.com   time to read: +2 min
The lack of a rotor generally allows manual-wind movements — and, ultimately, their exterior cases — to be smaller, which suits the current trend for small watches. Bulgari also played with size in developing its manual-wind BVL 100 Piccolissimo movement, introduced last year. “Our very important clients were saying that they had so many high-jewelry watches but found it was a pity that the tiny batteries soon ran out,” said Fabrizio Buonamassa Stigliani, the brand’s production creation executive director. A mechanical movement is forever.”The Piccolissimo first was used in Bulgari’s high-jewelry Serpenti Misteriosi watches, but this year it made its way into the new Mediterranea high-jewelry collection, presented in Venice in May. Manual-wind movements highlight a watch’s vintage look.
Persons: Patek, Calatrava, Bulgari, , Fabrizio Buonamassa Stigliani, , Marino Grande, Panerai Locations: Tokyo, Venice, Geneva, California
People take selfies beneath the Hollywood sign as the WGA (Writers Guild of America) strike continues on July 12, 2023 in Los Angeles, California. "A lot of different people are impacted surrounding the industry," Holmes says, "and it's causing them a lot of hardship." How long could the strike lastSome experts say the current strike could set the record for the longest writers' strike in Hollywood history. If strikes last until October, Holmes estimates the economic cost will total closer to $4 billion to $5 billion. The WGA represents 11,500 members, while SAG-AFTRA represents roughly 160,000 members.
Persons: Todd Holmes, Holmes, Lee Ohanian, Billy Porter, Kevin Klowden, Milken, Ohanian, it's Organizations: WGA, Guild of America, Writers Guild of America, Alliance, Television Producers, Cal State Northridge, Milken Institute, Screen, American Federation of Television, Radio Artists, University of California, CNBC, LA Times, Hollywood, Variety, SAG, Disney, Warner Bros Locations: Los Angeles , California, California, LA, Los Angeles
Members of the Writers Guild of America have been on strike for 100 days, and writers are getting creative to keep striking even longer. The last WGA strike, which started in 2007, lasted for 100 days and led to 37,700 lost jobs and a $2.1 billion blow to the California economy, according to the Milken Institute, an economic think tank. Many writers, including Kyra Jones, a TV writer in Los Angeles, saw the piece as an intimidation tactic. 'Survival jobs' and new pathsEarning a living during the strike isn't as easy as applying to any job. Brandi Nicole is a TV writer in LA and Memphis.
Persons: Kyra Jones, we're, " Jones, Jones, they're, she's, Chisa Hutchinson, she'll, Gili, I've, Brandi Nicole, Nicole, Brown, She's Organizations: Writers Guild of America, WGA, Alliance, Television Producers, Milken Institute, CNBC, Hulu, ABC, Northwestern University, University of Delaware, Showtime, Humanitas Locations: California, Los Angeles, Northwestern, New York City, LA, Memphis
WINTZENHEIM, France, Aug 9 (Reuters) - Eleven people died in a fire that tore through a holiday home for disabled people in eastern France in the early hours of Wednesday, officials said. A neighbour, Nathalie, told BFM TV that she heard people scream and saw huge clouds of smoke from her window. "Everything happened very quickly," an unnamed witness told France 3 TV. [1/5]Dark clouds are seen over the remnants of a holiday home in eastern France near Colmar where disabled people were killed as fire broke out during their summer holidays in Wintzenheim, France, August 9, 2023. Kielwasser told reporters it had likely been a low-level fire that had burnt for a while before growing bigger and tearing the house down.
Persons: Nathalie Kielwasser, Elisabeth Borne, Borne, Nathalie, BFM, Tilman Blasshofer, Philippe Hauwiller, Kielwasser, Daniel Leroy, Elizabeth Pineau, Zhifan Liu, Sudip Kar, Gupta, Charlotte Van Campenhout, Blandine, Ingrid Melander, Angus MacSwan, Bernadette Baum, Toby Chopra, Jonathan Oatis Organizations: France, REUTERS, Thomson Locations: WINTZENHEIM, France, Wintzenheim, Strasbourg, Colmar, Paris
Taiwan Semiconductor Manufacturing Company said on Tuesday it would team up with three German technology firms to build a facility in eastern Germany capable of producing up to 40,000 microchips each month as part of efforts to further diversify its production locations. TSMC, the world’s largest maker of semiconductors, said it would invest 3.5 billion euros ($3.8 billion) and own 70 percent of the joint venture, to be located in Dresden. The German companies Robert Bosch, Infineon Technologies and NXP Semiconductors will each control 10 percent. The combined private and public investment, “including strong support from the European Union and German government,” is expected to total €10 billion, the company said. The plant would be TSMC’s first location in Europe, and represents a win for Germany, which has been seeking out manufacturers of microchips, the tiny devices essential for the country’s large automotive industry and countless other devices.
Persons: Robert Bosch, Organizations: Taiwan Semiconductor Manufacturing Company, Infineon Technologies, European Union, Germany Locations: Germany, Dresden, Europe
[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. REUTERS/Cindy Liu/File PhotoPHNOM PENH, Aug 7 (Reuters) - Cambodia's king has approved the nomination the eldest son of Prime Minister Hun Sen to become the next premier, according to a decree published on Monday, confirming a long-awaited transition of power. Hun Manet, 45, was educated in the United States and Britain, where has received a master decree and doctorate respectively, both in economics. Hun Manet has said little of his vision for the country. Reporting by Prak Chan Thul; Writing by Martin Petty; Editing by Christian Schmollinger, Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Western, Prak Chan Thul, Martin Petty, Christian Schmollinger, Robert Birsel Organizations: REUTERS, Telegram, National Assembly, Cambodian People's Party, Point, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, Khmer, United States, Britain
How Cooking Videos Took Over the World
  + stars: | 2023-08-07 | by ( Priya Krishna | Umi Syam | ) www.nytimes.com   time to read: +9 min
Cooking videos have never been more persuasive, more inescapable, more addictive, more entertaining. How Cooking Videos Took Over The WorldVideos on TikTok with the #foodtok hashtag have been viewed more than 64 billion times. But cooking videos are not only an unavoidable part of being online — they’ve also infiltrated physical spaces. That is what makes these videos so engaging.”Today, there isn’t just one way to make a successful cooking video. But the evolution of cooking videos represents a broader shift: Algorithms and artificial intelligence increasingly drive everyday behaviors and can stifle creativity.
Persons: they’ve, Julia Child, Joyce Chen, , Ashley Rose Young, , John Gara, … TikTok, Covid, Sunny Xun Liu, , Bennett, Hetal Vasavada, soothingly, Althea Brown, Frankenfood, Gara, Bacon, Ahmad Alzahabi, Liu, Vasavada, that’s, they’re Organizations: Department of Motor Vehicles, Smithsonian Institution, Food Network, “ East, YouTube, Facebook, Stanford Social Media, Locations: New York City, United States, TikTok, Denver
CNN —A Russian and Chinese naval patrol consisting of several vessels operated off the coast of Alaska last week, defense officials and lawmakers said over the weekend – a show of force that prompted a US military response but did not pose a threat to the US or Canada, a US Northern Command spokesperson told CNN. NORTHCOM and the North American Aerospace Defense Command deployed planes and ships to monitor the Russian and Chinese patrol, which stayed in international waters, the spokesperson said. Dan Sullivan and Lisa Murkowski said in a statement Saturday that a total of 11 Russian and Chinese vessels had been operating near the Aleutian Islands, and were met in response by four US Navy destroyers. “For that reason, I was heartened to see that this latest incursion was met with four U.S. Navy destroyers, which sends a strong message to (Chinese President) Xi Jinping and (Russian President Vladimir) Putin that the United States will not hesitate to protect and defend our vital national interests in Alaska,” Sullivan said. Russia and China have intensified their defense and economic partnership considerably since Russia invaded Ukraine in February 2022, according to a July US intelligence report, and the countries have repeatedly pledged to strengthen their military ties.
Persons: Alaska’s Republican Sens, Dan Sullivan, Lisa Murkowski, Murkowski, Sullivan, Liu Pengyu, ” Sullivan, Xi Jinping, Vladimir, Putin Organizations: CNN, Northern Command, NORTHCOM, North American Aerospace Defense Command, Alaska’s Republican, US Navy, Alaska Command, US Coast Guard, U.S . Navy Locations: Alaska, Canada, U.S, Aleutians, Russian, United States, Russia, China, Ukraine
CNN —The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. “But it’s in some ways a very important wake-up call.”The downgrade came after a last-minute bipartisan deal in June that suspended the US debt ceiling until early 2025. I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted,” Treasury Secretary Janet Yellen said Wednesday. Meanwhile, the Biden administration is preparing new rules that could restrict investment in certain sectors in China, according to reports. When asked about US-imposed tariffs on China, Paulson said “we are working to close markets at the same time that China is doing business with more and more of the world.”“China is a major, major competitor,” he added.
Persons: CNN’s Fareed Zakaria, ” “, , Henry Paulson, George W, Bush, Janet Yellen, Paulson, , ” Timothy Geithner, Geithner, , ” Robert Rubin, Bill Clinton, Zakaria, Biden, , Jennifer Hansler, Gan, Juliana Liu Organizations: CNN, Fitch, AAA, Treasury Department, Capitol, Poor’s Locations: United States, China
Eva Marie Uzcategui | Bloomberg | Getty ImagesIt's not your imagination: Companies are getting stingier with customer rewards. Raising the barSome of the biggest shifts in customer perks have come in the airline industry. At many retailers, customers must now pay a return fee if they want to ship back unwanted clothing, shoes or other items. "To drive that online demand, free shipping and free returns were put in place, but now we all know it costs significant money," he said. Both companies aim to make sure membership isn't shared with people who aren't paying, particularly as the companies chase new avenues of growth.
Persons: Eva Marie Uzcategui, Dunkin, Cowen, David Garfield, Yuping Liu, Stephanie Keith, Marshal Cohen, Circana, Nordstrom, Christopher Dilts, Kohl's, Macy's, they're, Amit Sharma, Heidi Isern, Levi Strauss, Ann Taylor, Crocs, Brooks, reining Organizations: Brickell City Centre, Bloomberg, Getty, Retailers, Ross, uptick, American Airlines, Delta Air Lines, United Airlines, Old Dominion, Strome School of Business, LaGuardia, American Express, American, IRI, NPD, Urban Outfitters, Abercrombie, Fitch, Nordstrom, Amazon, Foods, Netflix, Costco Locations: Brickell, Miami , Florida, Queens, New York, Delta, Schaumburg , Illinois
Taiwan Semiconductor Manufacturing Company, which is manufacturing the world’s most advanced microchips, conducts business on the island of Taiwan, dead center in one of the most geopolitically volatile places on the planet. That makes people in Washington very nervous. TSMC dominates the semiconductor industry; it’s a company that the United States can’t do without, 80 miles off the coast of China. The U.S. government has appropriated tens of billions of dollars to strengthen America’s own semiconductor sector and help fund TSMC’s nascent operations in the United States, far from China, which has never renounced the use of force to absorb Taiwan. But TSMC has invested billions of its own over nearly four decades growing deep roots in Taiwan.
Persons: TSMC Organizations: Taiwan Semiconductor Manufacturing Company Locations: Taiwan, Washington, United States, China, The U.S
That has thrust Mr. Chang, and the company he created, into the spotlight. “It doesn’t make me feel particularly good,” said Mr. Chang, who retired in 2018 but still appears at TSMC events. Even as the rivalry for tech leadership intensifies, he does not give China much of a chance for semiconductor supremacy. “We control all the choke points,” Mr. Chang said, referring collectively to the United States and its chip-making allies such as the Netherlands, Japan, South Korea and Taiwan. When TSMC stumbled after the 2008 financial crisis, he returned as chief executive at age 77 to take over again.
Persons: Chang, , , ” Mr, TSMC Organizations: Samsung, Intel Locations: United States, China, Netherlands, Japan, South Korea, Taiwan, TSMC
[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. "We hope to host (Hun Manet). Osius said the U.S. approach to Cambodia had been "punitive" and Washington should look for opportunities for dialogue. "Better for (Hun Manet) if there if he's got some strategic options, and that could mean improving ties with us," he said. Cambodia's Washington embassy did not immediately respond to a request for comment.
Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Ted Osius, he’s, he's, Osius, Hun, Simon Lewis, David Brunnstrom, Marguerita Choy Organizations: REUTERS, Southeast Asia, Reuters, Cambodian People's Party, U.S ., ASEAN Business, General Assembly, Beijing, U.S . State Department, Thomson Locations: Phnom Penh, Cambodia, Washington, New York, Southeast, U.S, Vietnam, United States, China, Ream, UNGA
Adidas has to manage Yeezy drops very carefully, Gulden said, adding that the company's guidance was conservative. Adidas' 2023 outlook does not include the second Yeezy release, which is being sold through retailers as well as Adidas' own channels. JD Sports (JD.L) said it had started selling Yeezy shoes from the second drop on Wednesday. Citi analysts expect further Yeezy drops to generate 1.5 billion euros ($1.64 billion) in revenues and 700 million euros in earnings after Adidas' planned charity donations. Adidas donated 10 million euros in the second quarter and set aside 100 million euros for further donations to charities including the Foundation to Combat Antisemitism and the Anti-Defamation League.
Persons: Bjorn Gulden's, Ye, Gulden, Harm Ohlmeyer, Kanye West, Shannon Stapleton, Zuzanna Pusz, Pusz, Liu Qingyi, Shuting Qiu, Helen Reid, Mark Potter, Jan Harvey, Alistair Bell Organizations: FX, Adidas, JD, Citi, Foundation, Combat, Defamation League, ADIDAS, REUTERS, UBS, North, Thomson Locations: Garden City , New York, U.S, Greater China, China, Shanghai, North America
Sales of surplus Yeezy shoes generated around 400 million euros ($437 million) in the second quarter, helping Adidas reduce its predicted loss for the year to 450 million euros, down from the 700 million euro loss previously expected. JD Sports (JD.L) said it had started selling Yeezy products from Adidas' second release of Yeezy shoes on Wednesday. Adidas said its 2023 outlook does not include the second Yeezy release. Citi analysts expect further Yeezy drops to generate 1.5 billion euros in revenues and 700 million euros in earnings after Adidas' planned charity donations. North America was the laggard, with sales dropping 16.4% in currency-neutral terms, which Adidas put down to high inventory levels there.
Persons: Kanye West, Shannon Stapleton, Bjorn Gulden's, Ye, Cristina Fernandez, Fernandez, Gulden, Liu Qingyi, Shuting Qiu, Helen Reid, Sonali Paul, Mark Potter, Jan Harvey Organizations: Adidas, REUTERS, FX, Foundation, Combat, Defamation League, Telsey, JD, Citi, North, Thomson Locations: Garden City , New York, U.S, New York, Greater China, China, Shanghai, North America
Hong Kong CNN —The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States. AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped. AB InBev responded by saying it took its responsibilities to investors seriously. “Most consumers surveyed are favorable towards the Bud Light brand and approximately 80% are favorable or neutral,” the drinks maker added. Like many other businesses, AB InBev has rolled out cost-cutting measures this year, as it seeks to defend its global lead.
Persons: Bud Light, Bud, influencer Dylan Mulvaney, Kid Rock, Ron DeSantis, , Mulvaney, Michel Doukeris, Stella Artois, — Juliana Liu Organizations: Hong Kong CNN, InBev, Revenue, Florida, Bud Light, Modelo Locations: Hong Kong, United States, North America, Canada, Belgian, Corona, China, Brussels, South Africa, Colombia
Taylor Swift handed out $100,000 bonuses to truckers on her tour, according to multiple reports. The singer shelled out over $55 million in bonuses to staff on the tour, People reported. The Eras tour is set to become the highest-grossing tour of all time, according to Pollstar data. Taylor Swift dished out "end of tour" bonuses to staff on her Eras tour, including about 50 truck drivers, according to multiple reports. In total, the singer handed out over $55 million in bonuses to her staff, including dancers, sound technicians, and caterers, People reported.
Persons: Taylor Swift, TMZ, Swift, Scott Swift, Taylor, Mike Scherkenbach, Insider's Juliana Kaplan, Gal, Simu Liu, Mark Zuckerberg Organizations: SoFi, Entertainment, Federal Reserve Locations: Los Angeles, South America, Asia, Europe
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