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☆ Dollar set for fourth week of gains, inflation cements rate outlook
▼ + stars: | 2023-08-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The pound was last up 0.3% at $1.2711, but was still heading for a fourth weekly drop. Data on Thursday showed U.S. consumer inflation rose 0.2% last month, matching the gain in June, and by 3.2% in the 12 months through July. The dollar index , which measures the U.S. currency against six others, fell 0.1% to 102.50, but was still set for a fourth weekly gain, thanks in part to a rise in Treasury yields. The dollar fell against the euro , which rose 0.1% to $1.0995 and against the Australian dollar , which rose 0.14% to $0652.

Persons: Florence Lo, Moh Siong Sim, Nick Rees, Mary Daly, Ankur Banerjee, Shri Navaratnam, Simon Cameron, Moore, David Evans Organizations: U.S, REUTERS, Federal, Bank of Japan, Singapore, Ministry of Finance, Reuters, CPI, FX, Monex, San Francisco Fed, Thomson Locations: Japan, Monex Europe, U.S, Singapore

☆ Dancing Till Dawn on the Albanian Riviera
▼ + stars: | 2023-07-31 | by ( Valeriya Safronova | ) www.nytimes.com time to read: +2 min

The influx of foreign visitors to a place that only a few decades ago was sealed off to the world has brought both prosperity and challenges. “It’s been a 100 percent transformation,” said Erjon Shehaj, 46, whose family opened a 10-table restaurant in Dhermi in 2016. The resort hosted the biggest stage of the festival and was booked solid all seven days. In Dhermi, the electricity or water was sometimes turned off at hotels without warning, and bathrooms in restaurants and bars were left uncleaned for long stretches. The flood of visitors is also raising fears about possible harm to the region’s flora and fauna.

Persons: “ It’s, ”, Erjon Shehaj, “ I’ve, Anisa Koteci Organizations: Kala Locations: Drymades, Dhermi, Albania, London, Vlore

☆ Reactions to Bank of Japan's monetary policy decision
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

July 28 (Reuters) - The Bank of Japan maintained ultra-low interest rates on Friday but took steps to make its yield curve control policy more flexible, underscoring growing concerns over the rising side- effects of prolonged monetary easing. It also maintained guidance allowing the 10-year yield to move 0.5% around the 0% target, but said those would be "references" rather than "rigid limits". The benchmark 10-year Japanese government bond yield remained at 0.5%, the BOJ's policy ceiling under YCC. "We maintain our view the BOJ will keep its ultra-easy monetary policy settings unchanged this year, and expect USD/JPY to remain solid at 140 by the end of this quarter." MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE, SINGAPORE"By the time the decision come in, we're not surprised given the overnight Nikkei report.

Persons: CAROL KONG, we're, It's, they're, MATT SIMPSON, Subhranshu Organizations: Bank of Japan, Japan's Nikkei, COMMONWEALTH BANK OF, BANK OF SINGAPORE, Nikkei, Thomson Locations: SYDNEY, SINGAPORE, BRISBANE

☆ Dish Network to offer wireless services to Amazon Prime users
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 (Reuters) - Dish Network Corp (DISH.O) said on Wednesday it would offer unlimited wireless postpaid services for a fixed price of $25 a month to Amazon.com Prime customers. U.S. Prime members who purchase the Boost Infinite SIM kit would receive unlimited talking, texting and data services, Dish said. Talks of the U.S. satellite TV service provider's tie up with Amazon were first reported in May. Reporting by Medha Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Medha Singh, Shinjini Organizations: Dish Network Corp, Amazon.com, Dish, U.S ., Amazon, Thomson Locations: Bengaluru

☆ Dish Network partners with Amazon to offer wireless services
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 (Reuters) - Dish Network Corp (DISH.O) is partnering with Amazon.com (AMZN.O) to sell wireless postpaid service plans through its platform, and offer unlimited mobile services to Prime customers for a fixed price of $25 a month. Boost Infinite, a unit of Dish Network, said on Wednesday its Infinite SIM kit will be sold through Amazon in the United States, and will offer discounts to Prime members for unlimited talking, texting and data services. Talks of the U.S. satellite TV service provider's tie up with Amazon were first reported in May. Shares of Dish rose 8.5% in premarket trading. Reporting by Medha Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Medha Singh, Shinjini Organizations: Dish Network Corp, Dish Network, Amazon, U.S ., Thomson Locations: United States, Bengaluru

☆ Instant View: China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +11 min

"Consumers are not spending, mainly driven by the bleak outlook for the property market. Disappointing retail numbers and property market sales show it doesn't seem that the boost from rate cuts is sufficient. ..the property market is beginning another slowdown - the government will have to come up with more stimulus for property." "Nonetheless, we think more stimulus is required to stabilise and restore confidence in the property market." ZHIWEI ZHANG, CHIEF ECONOMIST, PINPOINT ASSET MANAGEMENT, HONG KONG"Nominal GDP growth turns out to be lower than real GDP growth in Q2, the first time since comparable data are available in Q4 2016.

Persons: CHRISTOPHER WONG, LOUIS KUIJS, CAROL KONG, XING ZHAOPENG, KEN CHEUNG, ALVIN TAN, VISHNU VARATHAN, MARCO SUN, CHEN, TONY SYCAMORE, ZHIWEI ZHANG, JING LIU Organizations: Gross, National Bureau, Statistics, Shanghai, NBS, BANK OF, ANZ, MIZUHO BANK, OF, OF ASIA FX, RBC, MUFG BANK, IG, SYDNEY, Friday's, BANK OF SINGAPORE, HSBC, stoke, Authorities, Reuters, U.S, Thomson Locations: U.S, SINGAPORE, ASIA, HONG KONG, SYDNEY, CHINA, SHANGHAI, OF ASIA, China

☆ Fact Check-Financial Times did not publish a story of a man travelling with hacked debit card
▼ + stars: | 2023-07-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The Financial Times has never published a headline reporting that a man was arrested after travelling almost two decades with a hacked debit card. While the post was likely intended as satire, some online questioned its veracity. Though likely intended to be satirical, some online questioned the story’s veracity, with one user saying: “If this is true, I wanna know how he did it & how he got caught” (here). The Financial Times confirmed this is not a genuine article. No such headline was published by the Financial Times.

Persons: “, ”, Jax, Read Organizations: Times, Twitter, Financial Times, Reuters Locations: Jacksonville

☆ Daniel Ricciardo returns to F1 grid as Australian driver replaces Nyck de Vries at AlphaTauri
▼ + stars: | 2023-07-12 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Daniel Ricciardo is making a surprising mid-season return to the Formula One grid, with the Australian driver replacing the struggling Nyck de Vries at AlphaTauri. Ricciardo, currently a Red Bull reserve driver, is being sent “on loan” to Red Bull’s feeder team for the remainder of the 2023 season, the team announced Tuesday. The 34-year-old, who will race for AlphaTauri in the next grand prix in Hungary on July 23, said he was “stoked to be back on track with the Red Bull family,” according to the F1 website. “It was great to see Daniel hasn’t lost any form while away from racing and that the strides he has been making in his SIM sessions translate on track,” Red Bull team principle Christian Horner said. After a fast start to the season, Perez has made the podium just once in the last five races.

Persons: CNN — Daniel Ricciardo, Vries, Ricciardo, “, ”, Bull, Lawrence Barretto, Daniel hasn’t, Red, Christian Horner, Daniel, ” Ricciardo, AlphaTauri –, Toro Rosso –, Red Bull, De Vries, Mark Thompson, Pierre Gasly, Toro Rosso, Alex Albon, ’ Sergio Perez, Max Verstappen, Perez Organizations: CNN, Red Bull, AlphaTauri, Scuderia AlphaTauri, Bull, Renault, McLaren, Red, Monaco Locations: AlphaTauri, Hungary, British

[1/2] U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. Markets are now focusing their attention on U.S. consumer prices data due out on Wednesday, which will provide more clarity on the progress the Fed has made in its fight against stubbornly high inflation. The pound has been rallying on a stronger economy and aggressive repricing of expectations for tighter BoE policy, according to Danske Bank FX analyst Kirstine Kundby-Nielsen. "There have been no signs of relief in the labour market data and markets continue to price in more. Given the rising inflation backdrop in Japan, the market is starting to become more wary that perhaps a policy tweak could come."

Persons: Rick Wilking, Shaun Osborne, Kirstine Kundby, That's, Kundby, Nielsen, Moh Siong Sim, Samuel Indyk, Rae Wee, Edmund Klamann, Alex Richardson, Chizu Organizations: REUTERS, Federal, Scotiabank . Markets, Sterling, Bank of England, Danske Bank, Nielsen, Swiss, greenback, Swiss National Bank, Singapore, Bank of Japan, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, U.S, Norwegian, Swedish, Swiss, Japan, Reserve Bank of New Zealand

U.S. interest rate expectations have been a key driver of the dollar since the Fed began its tightening cycle last year. A survey from the New York Federal Reserve on Monday showed waning near-term inflation expectations among Americans, who said last month they were expecting the weakest near-term inflation gains in just over two years. Sterling , meanwhile, hit a near 15-month high of $1.2913 after British wage growth hit a joint record high, heaping pressure on the Bank of England to tighten policy further to bring inflation under control. The pound has been rallying on a stronger economy and aggressive repricing of expectations for tighter BoE policy, according to Danske Bank FX analyst Kirstine Kundby-Nielsen. Elsewhere, the euro rose 0.1% to $1.1012, the Australian dollar steadied at $0.6680, while the New Zealand dollar fell 0.2% to $0.6198.

Persons: Rick Wilking, Shaun Osborne, Sterling, Kirstine Kundby, That's, Kundby, Nielsen, Moh Siong Sim, Samuel Indyk, Rae Wee, Shri Navaratnam, Edmund Klamann, Alex Richardson Organizations: REUTERS, Federal, Fed, Scotiabank . Markets, New York Federal Reserve, Bank of England, Danske Bank, Nielsen, Singapore, Bank of Japan, New Zealand, Thomson Locations: Westminster , Colorado, U.S, . U.S, Japan, China's

☆ World Bank names CEOs to help bring private funds to climate, development finance
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga

Management at Deutsche Boerse has touted the acquisition announced in April as key to its future strategy, combining SimCorp's investment management software with Deutsche Boerse's data. "The chemistry is right," Deutsche Boerse Chief Executive Officer Theodor Weimer told its investors in May. Deutsche Boerse hopes to take "significantly" more than 50% of the company. Deutsche Boerse said it had received approval from authorities in the United States, Denmark and Italy. "The remaining filing process with the EU commission is on track," Deutsche Boerse said.

Persons: Theodor Weimer, SimCorp's, Deutsche Boerse, Tom Sims, Friederike Heine, Rachel More Organizations: Denmark Deal, Deutsche, European, Management, Deutsche Boerse, Thomson Locations: U.S, Italy, Denmark, FRANKFURT, United States

☆ British Grand Prix: Max Verstappen and Red Bull strive for perfection as F1 team chases unbeaten season
▼ + stars: | 2023-07-07 | by ( Amanda Davies | Thomas Schlachter | ) edition.cnn.com time to read: +5 min

I love, of course, driving to the limit, but I love winning,” Verstappen tells CNN Sport’s Amanda Davies ahead of the British Grand Prix at Silverstone. Robert Szaniszlo/NurPhoto/Getty ImagesRed Bull team principal Christian Horner is also hungry for more wins despite the team’s unrelenting start to the season. “It’s not something probably I will look back to when I’m 60 or 70.”Red Bull will be hoping to go unbeaten through the 2023 F1 season. His father, Jos Verstappen, was a successful racing driver in his own right and became the first ever Dutchman to secure an F1 podium finish. The F1 driver sees a big future for the virtual racing esport.

Persons: Max Verstappen, ” Verstappen, Amanda Davies, “, Red Bull, Sebastian Vettel, Verstappen, Sergio Pérez, Robert Szaniszlo, Christian Horner, “ It’s, ” Horner, Horner, ”, ‘, Bull, Michael Potts, Jos Verstappen, What’s, Laszlo Balogh Organizations: CNN, Prix, Silverstone, Verstappen, Vettel, Red Bull, CNN Sport, Formula, BSR Agency, Getty, Grands Prix Locations: British

All-inclusive packages can be an easier way to travel, and road trips are a great budget option. These higher costs are leaving everyone wondering what kind of travel they can actually afford over this year's summer vacation season — and rightfully so. Travel in late summer if you canScott Keyes of Going says that summer flights for 2023 are expensive in general, but not equally expensive over the full summer travel season. Consider a summer road tripTravel expert Anu Agarwal of Destination CheckOff says that summer 2023 is a great time to consider a new type of trip if you're trying to keep costs down: summer road trips. "Flights in the 2023 summer travel season are expensive, plus airlines have hefty change or cancellation fees for flights," he says.

Persons: —, Sharael Kolberg, Kolberg, Kaitlyn Rosati, Scott Keyes, Greg Johnson, Johnson, Linda Orceo, Gulps, Arceo, you'll, Jacob Wade, Wade, Anu Agarwal, Agarwal, Ray Aberman, Brett Keller, Keller Organizations: Service, Family Travel, Travel Locations: Ipsos, Anguilla

☆ China starts to slow yuan's one-way slide
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +4 min

Analysts said that together the moves showed official unease at the yuan's downward momentum and that they could slow but perhaps not halt a decline, given the dour economic outlook. "They are sending more signals now they're uncomfortable ... they would like to slow the yuan weakness," said Moh Siong Sim, a currency strategist at Bank of Singapore. The yuan ended Monday at a seven-month low of 7.2425 per dollar and was at 7.2105 in Tuesday afternoon trade. BACK FOOTThe push back comes as investors sour on China, with data showing China's vaunted rebound faltering. Analysts said moves to halt the yuan's slide were not yet as firm as last year, when regulators rolled out measures to encourage capital inflows, but might be enough to slow selling.

Persons: Yuan, Siong Sim, Stocks, Alvin Tan, We've, Rob Carnell, Carnell, That's, Ankur Banerjee, Tom Westbrook, Rae Wee, Vidya Ranganathan, Kim Coghill, Jacqueline Wong Organizations: People's Bank of China, Analysts, Bank of Singapore, UBS, Australian, Asia FX, RBC Capital Markets, Beijing, Thomson Locations: SHANGHAI, BEIJING, China, Hong Kong, Asia, Shanghai, Singapore

☆ These images aren’t real, but for some refugees they depict a painful truth
▼ + stars: | 2023-06-25 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +14 min

For some, Australia’s approach has been seen as a model, particularly in the United Kingdom, which wants to send some asylum seekers to Rwanda. As AI images, they’re powerful and controversial, not least due to fears they could be mistaken for real images in a world awash with false and misleading information. Amnesty International was recently called out for using AI images in a report to depict protesters in Colombia that critics said undermined its credibility as a news source. The refugee AI images were created partly because no “real” alternative existed – partly due to distance but also restrictions on media access and early bans on mobile phones. But the use of fake images to visualize accounts raises questions about when it’s acceptable to create AI images and how they should be presented.

Persons: Ian Rintoul, ”, I’m, It’s, Saman, “ I’m, Maurice Blackburn, they’d, –, Jennifer Kanis, Maurice Blackburn “, “, we’d, Behrouz Boochani, Kim Wade, Wade, Gavin, Kanis Organizations: Australia CNN, Asylum Seeker Resource, Refugee, Coalition, United Nations, CNN, High, Amnesty, Guardian, University of Warwick, Howatson, Australia’s Home Affairs Department, “, Papua New, Papua New Guinea Government Locations: Brisbane, Australia, Nauru, Manus, Papua New Guinea, United Kingdom, Rwanda, Pakistan, United States, New Zealand, Indonesia, Colombia, Papua

☆ Yuan slides after China cuts lending benchmarks; Aussie down
▼ + stars: | 2023-06-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

"Markets were expecting bigger support and were hoping for a larger LPR cut," said currency strategist Christopher Wong at OCBC. It's probably going to be more targeted," said currency strategist Moh Siong Sim at Bank of Singapore. "The minutes were interpreted by market participants as dovish," said currency strategist Carol Kong at Commonwealth Bank of Australia. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets. Sterling edged 0.06% higher to $1.2798, ahead of British inflation data and the Bank of England's (BoE) interest rate decision later in the week.

Persons: Christopher Wong, Moh Siong Sim, Carol Kong, Min Joo Kang, BoE, Rodrigo Catril, Rae Wee, Christopher Cushing Organizations: Bank of Singapore, Reserve Bank of Australia's, Commonwealth Bank of Australia, New Zealand, Bank of Japan's, ING, South, Central Bank, Sterling, Bank of England's, National Australia Bank, Bank of England, U.S ., Thomson Locations: SINGAPORE, China, OCBC, Japan, South Korea

☆ Meta is playing a game of whack-a-mole with the Taliban as the isolated Afghan government increasingly attempts to use WhatsApp's end-to-end encryption for official business
▼ + stars: | 2023-06-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The New York Times reported Taliban government officials increasingly use WhatsApp to communicate. WhatsApp owner Meta is engaged in an uphill battle to block the accounts in order to comply. Taliban officials then try finding workarounds to access the app, like buying new SIM cards and creating new accounts, prompting a cyclical cat-and-mouse game. It remains unclear what proof Meta officials require that a WhatsApp account is associated with a Taliban user before blocking them. WhatsApp, in particular, has long faced criticism from law enforcement groups (and praise from data privacy experts) for its standardized end-to-end encryption.

Persons: Meta, —, Shir Ahmad Burhani, WhatsApp, James Comey, Comey Organizations: New York Times, Meta, Times, Afghanistan's Ministry of Interior, Ministry of Defense, US Patriot, FBI Locations: Afghanistan, California, Baghlan Province

☆ Dollar ekes out gain after Fed hike hint; yen slips
▼ + stars: | 2023-06-15 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The Fed's policy decision snapped a string of 10 consecutive rate hikes, but the projections, or dot plot, showed policymakers expect two more increases by the end of 2023. The euro was last flat versus the dollar at $1.0841 after touching a four-week high of $1.0865 on Wednesday. "Dollar-yen is at year highs and markets are increasingly beginning to talk about whether a further rise could trigger the BoJ to verbally and also effectually intervene in the FX market," Lomholt added. Japan's top government spokesperson said on Thursday that volatile currency market moves were undesirable and the authorities would take "appropriate" action as needed. The kiwi dollar sank 0.6% to $0.6172 after data showed New Zealand's economy slipped into a technical recession in the first quarter, putting further rate hikes in doubt.

Persons: Jerome Powell, Fed, Mohit Kumar, Kristoffer Kjær Lomholt, Lomholt, Sim Moh Siong, Samuel Indyk, Rocky Swift, Edmund Klamann, Sohini Goswami, Shweta Agarwal Organizations: U.S, Federal Reserve, European Central Bank, Jefferies, Bank of Japan, Money, ECB, Danske Bank, The Bank of, FX, People's Bank of China, Singapore, Thomson Locations: The Bank of Japan

"In light of what the Fed has announced, it's a hawkish pause," said Bank of Singapore currency strategist Sim Moh Siong. "The message here is that the Fed is tightening, and this is why I think the dollar itself could stay supported in the near term." The yen plunged 0.9% to 141.365 per dollar, and earlier touched 141.430, a level not seen since Nov. 23. The kiwi dollar sank 0.52% to $0.6177 after data showed New Zealand's economy slipped into a technical recession in the first quarter, putting further rate hikes in doubt. "Following the rate cut from earlier this week, there's a lot of expectation for more wide ranging stimulus to shore up the economy," said Bank of Singapore's Siong.

Persons: it's, Sim Moh, Rocky Swift, Edmund Klamann Organizations: U.S ., Federal Reserve, Bank of Japan, Fed, European Central Bank, Bank of, Singapore, People's Bank of China, Singapore's, Thomson Locations: TOKYO, China's, Bank of Japan

☆ Dollar eases as chances for a U.S. rate rise ebb
▼ + stars: | 2023-06-07 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

LONDON, June 7 (Reuters) - The dollar dipped on Wednesday as chances faded for a rate hike next week by the Federal Reserve, while the Canadian dollar touched one-month highs as traders amped up bets for the country to raise rates and the Turkish lira hit record lows. "Over the last month or so, we've seen the market slowly pricing out the risks of a 2023 interest rate cut. Nonetheless, traders were attaching a higher chance that the BoC would raise Canadian interest rates again later on Wednesday. Against the dollar, sterling rose 0.3% to $1.2456, while the Japanese yen rose 0.2% to 139.40 and the euro rose 0.2% to $1.0718. Elsewhere, the Turkish lira slid as much as 7.6% to a record low of 23.16 per U.S. dollar.

Persons: Philip Lowe, Jane Foley, we've, Foley, Siong Sim, bitcoin, Coinbase, Binance, Zhao, Binance's, Rae Wee, Clarence Fernandez, William Maclean Organizations: Federal Reserve, Australian, Reserve Bank, U.S ., Rabobank, BoC, U.S, Canadian, Fed, Bank of Singapore, U.S . Securities, Exchange Commission, SEC, Thomson Locations: U.S, CHINA, China, Turkish, Singapore

☆ Former exec at TikTok's parent company says Communist Party members had a 'god credential' that let them access Americans' data
▼ + stars: | 2023-06-07 | by ( Zen Soo | Associated Press | ) www.businessinsider.com time to read: +5 min

Yintao Yu said Communist Party members accessed data on US users as well as protesters in Hong Kong. Hong Kong is a semi-autonomous region in China with its own government. Some American lawmakers have expressed concern that TikTok's ties to ByteDance means the data it holds is subject to Chinese law. It was also available in Hong Kong until TikTok pulled out of the market in 2020 following the imposition of a sweeping national security law. Anyone who tries to open TikTok from within Hong Kong will see a message that reads "We regret to inform you that we have discontinued operating TikTok in Hong Kong."

Persons: Yintao Yu, ByteDance, —, Yu, Charles Jung, Jung, Shou Zi Chew, Chew, TikTok Organizations: Communist Party, ByteDance, San Francisco Superior, British, Hong, Flipagram, Oracle, Chinese Communist Party, Communist Locations: Hong Kong, HONG KONG, U.S, China, Beijing

Neuralink's valuation jump in secondary trades is in sharp contrast to other startups. About 85% of pre-IPO companies are currently valued in secondary trades at an average discount of 47% to their last funding round, according to data provider Caplight. The maximum amount sought for the Neuralink shares marketed for sale at a $7 billion valuation was just $500,000, according to the email seen by Reuters. Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been "tremendous." Neuralink stock that some of the employees hold has jumped around 150% in value in just two years, based on the secondary trades.

Persons: Elon, Kip Ludwig, Musk, Neuralink, Sim Desai, Arun Sridhar, Sridhar, Galvani, Rachael Levy, Marissa Taylor, Krystal Hu, Greg Roumeliotis, David Gregorio Our Organizations: U.S . National Institutes of Health, Reuters, U.S . Food, GSK Plc, Sciences, FDA, U.S . Department of Agriculture, Department of Transportation, Thomson Locations: Neuralink's, U.S, Washington ,, New York

☆ Musk's Neuralink valued at about $5 billion despite long road to market: Reuters
▼ + stars: | 2023-06-05 | by ( ) www.cnbc.com time to read: +4 min

Such so-called secondary trades are an imperfect gauge of a company's value; their volume is thin and they lack the wider market consensus of a fundraising round or initial public offering (IPO). About 85% of pre-IPO companies are currently valued in secondary trades at an average discount of 47% to their last funding round, according to data provider Caplight. In Neuralink's last known fundraising in 2021, it raised $205 million at an approximately $2 billion valuation, according to data provider Pitchbook. The maximum amount sought for the Neuralink shares marketed for sale at a $7 billion valuation was just $500,000, according to the email seen by Reuters. Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been "tremendous."

Persons: Elon, Kip Ludwig, Musk, Neuralink, Sim Desai, Arun Sridhar, Sridhar, Galvani Organizations: U.S . National Institutes of Health, Reuters, U.S . Food, GSK Plc, Sciences Locations: Neuralink's, U.S

☆ Asia's drug trade is thriving post-pandemic, UN report warns
▼ + stars: | 2023-06-02 | by ( Jessie Yeung | ) edition.cnn.com time to read: +6 min

There are other signs of the drug trade bouncing back. West African trafficking networks in East and Southeast Asia, which “all but disappeared” during the pandemic, have now resumed their activities, the report said. From Myanmar, meth and other synthetic drugs then travel out to the world, with shipments previously found as far away as Japan, New Zealand and Australia. It also pointed to the high number of drug-related arrests and admissions at drug treatment facilities as further evidence of robust trade. That figure is 167% higher than the previous year, according to the UNODC report.

Persons: ”, Jeremy Douglas, “, ” Douglas, Douglas, Inshik Sim Organizations: Hong Kong CNN, United Nations Office, Drugs, “, UNODC Regional Representative, Southeast, Central America Locations: Hong Kong, Asia, East, Southeast Asia, Yunnan, Myanmar, China, Thailand, Central, Laos, From Myanmar, Japan , New Zealand, Australia, South Asia, Bangladesh, India, Japan, Cambodia, France, Poland, Indonesia, South Korea

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