DIRS.INFO The most relevant business & tech news

☆ Take Five: Warming up this winter
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +6 min

1\BUCK UP, IT'S DECEMBERThe dollar is heading for its weakest monthly performance for a year, with a loss so far of 2.7%. On Thursday, China releases official manufacturing PMI data, which last month showed an unexpected contraction, killing momentum for an economic recovery. COP28 gets underway in Dubai and securing an agreement on how to tackle global warming and, crucially, how to pay for it looks as difficult as ever for the near 200 countries and institutions attending. Reuters Graphics5\THE ECB'S BALANCING ACTEuro zone inflation data on Nov. 30 may well confirm a trend of price rises moderating. Policymakers remain wary of any hopes for rate cuts spilling over into increased bank lending and household spending, renewing inflationary pressures.

Persons: Lewis Krauskopf, Kevin Buckland, Naomi Rovnick, Marc Jones, Amanda Cooper, it's, Joshua Roberts, Sultan Ahmed Al Jaber, Christine Lagarde, Pasit Kongkunakornkul, Sumanta Sen, Kripa Jayaram, Vineet Sachdev, Prinz, Toby Chopra Organizations: BUCK, IT'S, Federal Reserve, Reuters, REUTERS, COP28, World Bank, European Central Bank, Thomson Locations: China, Dubai, Lewis, New York, Tokyo, London, Washington , U.S, UAE

WELLINGTON, Nov 23 (Reuters) - New Zealand's National Party said on Thursday it has reached an agreement with ACT New Zealand and New Zealand First to form a government, ending weeks of negotiations and political uncertainty with the country under a caretaker government. The center-right National Party won the largest share of votes in New Zealand's Oct. 14 general election but needed the support of both right-wing ACT New Zealand and the populist New Zealand First parties to form a majority government. "I'm very pleased to announce that we're in a position where we've concluded negotiations with the respective parties. Christopher Luxon, leader of New Zealand's National Party waves to supporters at his election party after winning the general election in Auckland, New Zealand, October 14, 2023. The conservative National Party won over voters by promising relief for struggling middle-income New Zealanders, and to bring historically high inflation under control while reducing the country's debt.

Persons: we've, Christopher Luxon, David Rowland, Winston Peters, Act's David Seymour, Lucy Craymer, Renju Jose, Stephen Coates Organizations: WELLINGTON, National Party, ACT New, New Zealand, ACT New Zealand, New, National, REUTERS, NZ, Zealanders, Labour, Thomson Locations: ACT New Zealand, New, Auckland , New Zealand, New Zealanders

GENEVA (AP) — The World Health Organization says it has made an official request to China for information about a potentially worrying spike in respiratory illnesses and clusters of pneumonia in children. The U.N. health agency cited unspecified media reports and a global infectious disease monitoring service as reporting clusters of undiagnosed pneumonia in children in northern China. Political Cartoons View All 1265 ImagesWHO said media reports about a week later reported clusters of undiagnosed pneumonia in children in northern China. WHO said that northern China has reported a jump in influenza-like illnesses since mid-October compared to the previous three years. It is rare for the U.N. health agency to publicly ask for more detailed information from countries, as such requests are typically made internally.

Persons: David Heymann, ” Heymann, Francois Balloux, ” Balloux, China's, ___ Cheng, Wanqing Chen Organizations: GENEVA, World Health Organization, WHO, National Health Commission, London School of Hygiene, Tropical Medicine, University College London, Beijing Children’s Hospital, China National Radio, Health Commission, Xinhua News Agency Locations: China, Beijing, London

☆ I started my natural-candle brand on Amazon with just $500. I became a top seller and now save 15 hours a week with ad tools.
▼ + stars: | 2023-11-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

My brand, Hemlock Park, was born in Los Angeles during the 2020 COVID-19 lockdowns. More than 2,000 stores in the US, Canada, Europe, and Asia now stock Hemlock Park candles. Over time, I realized it wouldn't be sustainable to run the Amazon business and oversee sourcing, manufacturing, production, and shipping. These days, Hemlock Park generates about 60% of its sales from Amazon, 30% from wholesale channels, and 10% from the Shopify store. When I was getting started, Amazon told me that there were over 5,000 candle sellers on the platform and that it would be hard to break through.

Persons: Mikey Kim, I'd, Goldman Sachs, Marcus, I've, haven't, Amazon, We're Organizations: Business, Amazon Lending, Amazon Locations: Nevada, Los Angeles, Canada, Europe, Asia, LA

☆ Exclusive: China govt advisers call for steady growth target in 2024, more stimulus
▼ + stars: | 2023-11-22 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

Five of the seven advisers who spoke with Reuters said they favoured a target of around 5%, matching this year's goal. The proposals will be made next month at the ruling Communist Party's annual Central Economic Work Conference that discusses policy plans and the outlook for the world's second-largest economy. "We need to adopt expansionary fiscal and monetary policy to stimulate aggregate demand," Yu Yongding, a government economist who advocates for a growth target of roughly 5%, told Reuters. "We are stepping up fiscal policy support," said another adviser, to make the "difficult" 2024 target "achievable." The stuttering post-COVID recovery has prompted many analysts to call for structural reforms that tilt the drivers of economic growth away from property and infrastructure investment and towards household consumption and market-allocation of resources.

Persons: Yu Yongding, Yu, Guan Tao, Xi Jinping, Kevin Yao, Marius Zaharia Organizations: Reuters, Communist, Economic Work Conference, BOC International, State Administration of Foreign Exchange, Thomson Locations: China, BEIJING, Beijing, outflows, Japan

☆ Italy's Transgender Women Thank Pope for Making Them Feel 'More Human'
▼ + stars: | 2023-11-19 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

But for transgender women who live there it had seemed light years away until a rapprochement with the Catholic Church that began during the COVID-19 lockdown and led to an invitation to have lunch with Pope Francis on Sunday. Last week, the Vatican's doctrinal office issued a statement saying transgender people can be godparents at Roman Catholic baptisms, witnesses at religious weddings and receive baptism themselves. As well as sending money, the cardinal arranged for them to have COVID vaccinations in the Vatican and to meet the pope. "For us, he is our saint," Salas said of Conocchia last week. On Sunday, Conocchia arrived at the Vatican on a bus with about 50 poor from his parish, including transgender people, both foreign born and Italian.

Persons: Oriana Boselli, Antonio Denti, Philip Pullella TORVAIANICA, Pope Francis, Claudia Victoria Salas, Carla Segovia, Salas, Francis, Father Andrea Conocchia, Conocchia, " Salas, Segovia, Philip Pullella, Barbara Lewis Organizations: VATICAN CITY, Catholic Church, Immaculate Locations: Italy, VATICAN, Torvaianica

[1/4] Carla and Claudia Victoria, transgender women, sit inside the Blessed Immaculate Virgin Church in Torvaianica, near Rome, Italy, November 16, 2023. But for transgender women who live there it had seemed light years away until a rapprochement with the Catholic Church that began during the COVID-19 lockdown and led to an invitation to have lunch with Pope Francis on Sunday. Claudia Victoria Salas, 55, and Carla Segovia, 46, both Argentinian, were in a group of transgender people, among about 1,200 poor and homeless people, who attended the lunch on the Church's World Day of the poor. As well as sending money, the cardinal arranged for them to have COVID vaccinations in the Vatican and to meet the pope. On Sunday, Conocchia arrived at the Vatican on a bus with about 50 poor from his parish, including transgender people, both foreign born and Italian.

Persons: Carla, Claudia Victoria, Antonio Denti, Pope Francis, Claudia Victoria Salas, Carla Segovia, Salas, Francis, Father Andrea Conocchia, Conocchia, " Salas, Segovia, Philip Pullella, Barbara Lewis Organizations: Immaculate Virgin Church, REUTERS, VATICAN CITY, Catholic Church, Immaculate, Thomson Locations: Torvaianica, Rome, Italy, VATICAN

☆ Alibaba shares slide over 8% after it disappoints on profit, curbs cloud spinoff
▼ + stars: | 2023-11-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Here's how Alibaba did in the September quarter, compared with Refinitiv consensus estimates:Net income attributable to ordinary shareholders: 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. 27.7 billion yuan ($3.8 billion) versus 29.7 billion yuan expected. Revenue: 224.79 billion yuan ($31 billion) versus 224.3 billion yuan expected. On Thursday, Alibaba said that the U.S. chip restrictions have "created uncertainties for the prospects of Cloud Intelligence Group."

Persons: Alibaba, Eddie Wu, Daniel Zhang, Joe Tsai Organizations: Alibaba, Holding, Smart, U.S, Cloud Intelligence, Amazon Web Services, Microsoft Locations: Chongqing, China, U.S

TOKYO, Nov 15 (Reuters) - Visitors to Japan exceeded pre-pandemic levels in October, official data showed on Wednesday, marking a full recovery in arrivals for the first time since the relaxation of border controls last year. The number of foreign visitors for business and leisure rose to 2.52 million last month from 2.18 million in September, data from the Japan National Tourism Organization (JNTO) showed. Reuters GraphicsVisitor numbers improved to 100.8% of levels seen in 2019 before the outbreak of COVID-19 led to travel curbs around the world. That year, Chinese accounted for nearly a third of all visitors and 40% of all tourist spending in Japan. Almost 20 million visitors have arrived in Japan in the first 10 months of 2023, JNTO data showed, compared to the record of about 32 million in all of 2019.

Persons: Rocky Swift, Miral Organizations: Visitors, Japan National Tourism Organization, Graphics, Thomson Locations: TOKYO, Japan, Southeast Asia, North America, Europe, Australia, Canada, Mexico, Germany, China

Lending data from China's central bank offers a glimpse of government priorities: as of the end of September, outstanding loans to the troubled property sector fell 0.2% year-on-year but lending to the manufacturing sector jumped 38.2%. This time, the government's focus is narrower, targeting high-tech and "advanced manufacturing", a goal laid out in 2021 in the 14th five-year plan. It grew 11.3% in the first nine months of 2023 year-on-year, compared with 6.3% for overall manufacturing investment, according to data from China's National Bureau of Statistics. For example, Guangdong province has increased lending to both high-tech and advanced manufacturing by about 45%, state media reported. During the first half of 2023, outstanding loans to the high-tech manufacturing sector in the eastern province of Shandong jumped 67%.

Persons: Jens Eskelund, Eskelund, Xi Jinping, Joe Biden, Frederic Neumann, Neumann, Tao Wang, Wang, Fu, Lu Zhengwei, Siyi Liu, Kripa Jayaram, Robert Birsel Organizations: Rights, European Chamber of Commerce, Asia Pacific Economic Cooperation, U.S, Reuters Graphics, overcapacity, HSBC, UBS, China's National Bureau of Statistics, Rystad Energy, EV, China Passenger Car Association, Bank, Industrial Bank, Thomson Locations: Suqian, Jiangsu province, China, CHINA, Rights BEIJING, Europe, Beijing, San Francisco, Xi, Asia, Guangdong province, Shandong, Dongguan, Shanghai

☆ How US banks can wiggle out of the $650 billion balance-sheet bomb hanging over them
▼ + stars: | 2023-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's. How banks can defuse their balance sheet bombDespite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized. First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all.

Persons: —, aren't, Louis Navellier, Geetu Sharma, Sharma, Banks Organizations: Service, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Consumers, of America, Treasury, Federal Reserve, Banks, P Bank, P Regional Bank ETF

WASHINGTON (AP) — Republican Rep. Brad Wenstrup, who leads the House GOP's investigation of the origins of COVID-19, says he won't seek reelection next year. Wenstrup represents Ohio's 2nd Congressional District and was first elected to the House in 2012. Wenstrup, who is also a longtime member of the House Intelligence Committee, has accused U.S. intelligence of withholding key facts about its investigation into the coronavirus. Political Cartoons View All 1240 ImagesWenstrup's announcement came the same day another longtime congressman also said he would not seek reelection next year. They are among nearly two dozen House members to announce they won't be running again in 2024.

Persons: Brad Wenstrup, Wenstrup, Derek Kilmer, Kilmer Organizations: WASHINGTON, — Republican, Congressional District, Army Reserve, House Intelligence, Republicans, Wuhan, of Virology, Democrat Locations: Cincinnati, Washington

And now Ben Hammou faces another blow as the German government moves to end pandemic-era tax breaks for the hospitality industry. The fiscally hawkish FDP party, which has control of the finance ministry in the three-way ruling coalition, backs letting the tax break expire, calculating that it would cost 3.3 billion euros ($3.5 billion) to keep it going in 2024. Many restaurants operate on tight margins, which makes them quite sensitive to tax increases. In Spain, Italy and France, the VAT on restaurants is at 10%, considerably lower than the expected 19% in Germany from 2024. The question is whether German restaurants are still struggling or have recovered well enough from the pandemic to withstand having the tax break removed, according to Tomas Dvorak, senior economist at Oxford Economics.

Persons: Omar Ben Hammou, Ben Hammou, Christian Lindner, Guido Zoellick, Thijs Geijer, Ingrid Hartges, DEHOGA, Steffen Marx, Tomas Dvorak, Maria Martinez, Christian Kraemer, Tanja Daube, Ulrike Heil, Belen Carreno, Giselda Vagnoni, Thomas Leigh, Matthias Williams, Hugh Lawson Organizations: Restaurant Association, ING, Reuters, Oxford Economics, Thomson Locations: Bavaria, BERLIN, Berlin, Russia, Ukraine, COVID, Spain, Italy, France, Germany, Munich, Madrid, Rome, Paris

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

☆ Lonely Planet’s top places to go in 2024
▼ + stars: | 2023-10-31 | by ( Maureen Ohare | Maureen O'Hare | ) edition.cnn.com time to read: +6 min

CNN —Get your wishlist fired up, Lonely Planet just revealed its 50 top travel destinations for the year ahead. The travel publishing empire turns 50 this year, and its bumper Best in Travel 2024 list is expanded across five categories: top countries, regions, cities, sustainable travel destinations and best-value locations. The “wild beauty” of South Africa also gets a nod, with Lonely Planet recommending visitors check out the country’s “impressive crop of ecolodges” committed to protecting Earth’s biodiversity. The underrated American Midwest is the top tip here: in cities such as Chicago, Milwaukee and Detroit, “you’ll find old warehouses transformed into art studios, new eco design hotels and many Michelin-starred restaurants,” says Lonely Planet. Says Lonely Planet, “Here you’ll find the highest sea cliffs in Europe and miles of unspoilt coastal hiking trails.”Lonely Planet’s Best in Travel 2024India: A big country with a whole lot to love, including Gadisar lake in Rajasthan.

Persons: CNN —, Lucia, Torres del, ecolodges ”, Babanango, “, ”, you’ll, Ilan Shacham, Ireland País Vasco, Português, daniel Organizations: CNN, Lonely, Lonely Planet, Kenyan, Michelin, Getty, Mongolia India Morocco Chile Benin Mexico Uzbekistan Pakistan Croatia St, Regions, CNN Cities Nairobia, Chile Greenland, Lithuania Eco, France Egypt Ikaria, Greece Algeria Southern Lakes, Central Otago , New Zealand Locations: Mongolia, Mexico, Croatia, St, Benin, Uzbekistan, City, Nairobi, Paris, Prague, Czech, “, Patagonia, Torres del Paine, Spain, Valencia, Barcelona, South Africa, South, KwaZulu Natal, Chicago, Milwaukee, Detroit, Algeria, Northern Africa, Europe, Balkans, Slovenia, Bosnia, Hercegovina, Montenegro, Albania, North Macedonia, Kosovo, Serbia, Adriatic, Donegal, Ireland’s, India, Rajasthan, Mongolia India Morocco Chile Benin Mexico Uzbekistan Pakistan Croatia, Lucia Macedonia, South Australia Donegal, Ireland, Spain Southern Thailand Swahili, Tanzania Montana, USA, Austria, Kenya Paris, France Montreal, Canada Mostar, Herzegovina Philadelphia , Pennsylvania Manaus, Brazil Jakarta, Indonesia Prague, Czech Republic Izmir, Turkey Kansas City , Missouri, Spain Patagonia, Argentina, Chile, Chile Greenland Wales, Santiago Palau Hokkaido, Japan Ecuador Baltic, Estonia, Latvia, Lithuania, South Africa Poland, USA Poland Nicaragua Danube Limes, Bulgaria Normandy, France Egypt, Greece Algeria Southern, Central Otago , New

☆ China's economy stumbled again in recent months with factory activity falling and foreign investment plunging 34%
▼ + stars: | 2023-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's economy has stumbled since coming out of the country's COVID-19 lockdown late last year. Factory activity declined in October, while foreign investment tumbled 34% in September. Experts say the nation is at risk of a debt-deflation crisis that could produce a "lost decade" for its economy. AdvertisementAdvertisementData from September and October show China's economy stumbling further, with factory activity falling and foreign investment seeing a significant decline. Factory activity dropped through the month of October, with China's manufacturing purchasing managers' index falling to restrictive territory at 49.5.

Persons: — Organizations: Service, China's Commerce Ministry, Ministry, CSI Locations: China, Beijing, freefall

☆ Educated Gen Zers in China are choosing not to work. It could be a problem for the US economy.
▼ + stars: | 2023-10-29 | by ( Ayelet Sheffey | Huileng Tan | ) www.businessinsider.com time to read: +8 min

Youth unemployment in China hit a record high of 21% in May. It's a problem not only for China's economy — it could hurt the US, as well. China's economy is on shaky ground as it emerges from very strict lockdown pandemic measures. That's compared to the US youth unemployment rate of 7.4% in May. "The stakes are high for correcting these imbalances, given how important the youth population is to China's economy," the note said.

Persons: There's, —, China —, it's, China's, China — Benn Steil, Steil, Victoria University of Wellington Christian Yao, Alfred Wu, National University of Singapore's Lee, Wu, Goldman Sachs, they're, it'll Organizations: Service, Trade, National Bureau of Statistics, Weibo, China, Council, Foreign Relations, Victoria University of Wellington, China Macroeconomy, New York Times, National University of Singapore's, National University of Singapore's Lee Kuan Yew, of Public, NBC News Locations: China, decouple, Japan, United States

☆ Li Keqiang: China’s former Premier dead at 68 according to state media
▼ + stars: | 2023-10-27 | by ( Simone Mccarthy | Steven Jiang | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Former Chinese Premier Li Keqiang, once seen as a reform-minded contender to the country’s top leadership role, died of a sudden heart attack early Friday in Shanghai, state media reported. 2 leader until late last year, served as the country’s premier – traditionally in charge of the economy – for a decade from 2013 to March this year under strongman leader Xi Jinping. Under Hu, Li was named to the party’s top central leadership body the Politburo Standing Committee in 2007. Then 67, Li was one year short of the unofficial retirement age for senior Chinese Communist Party leaders. He was succeeded as premier earlier this year by former Shanghai party chief and Xi loyalist Li Qiang.

Persons: Hong Kong CNN —, Li Keqiang, Li, Xi Jinping, ” Li, “, Xi, Xi’s, Hu Jintao, Hu, nodded, Mao Zedong, China’s princelings, Li Qiang Organizations: Hong Kong CNN, Hong Kong CNN — Former, Peking University, Communist Party’s Youth League, Communist Party Congress, Dongling, Brigade, Communist Youth League Central Committee, Communist Party, party’s, Chinese Communist Party Locations: Hong Kong, Shanghai, United States, China, Liaoning, Henan, Anhui

☆ With China playing catchup with the U.S., these 3 charts show the top countries for fintech in 2023
▼ + stars: | 2023-10-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

UK has second-biggest number of top fintech firmsThe U.S. was home to 65 of the top fintech companies, according to CNBC's list of world's top 200 fintech companies. In the U.S., some of the top global fintech companies on Statista's list include names like Stripe, PayPal and Intuit . Stateside, meanwhile, the largest fintech unicorns are Stripe ($95 billion), Chime ($25 billion), Ripple ($15 billion), Plaid ($13.5 billion), Devoted Health ($12.6 billion, and Brex ($12.3 billion). Other leading ecosystems for fintech unicorns include India, on 17 unicorns, and China, on eight. Standing in 8th place is Mexico, with five fintech unicorns, Singapore, also with five, and the Netherlands, which has four in total.

Persons: Ed Jones, Starling, Tencent, Statista, Andreessen Horowitz, Wise, Vlad Tenev, Group's, —, Nick Parmenter Organizations: AFP, Getty, CNBC, Statista, Ant Group, Plaid, Visa, Mastercard, European Union, Apple, Google, Sequoia Capital, PayPal, Intuit, Financial, Authority, Consumers Locations: U.S, Beijing, China, Silicon, Europe, Ukraine, Covid, India, France, Brazil, Germany, Mexico, Singapore, Netherlands, Statista

☆ Bruce Brown shines in Pacers debut, leads win over Wizards
▼ + stars: | 2023-10-26 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/63] Oct 25, 2023; Indianapolis, Indiana, USA; Washington Wizards forward Kyle Kuzma (33) dribbles the ball while Indiana Pacers forward Jalen Smith (25) defends in the first quarter at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports Acquire Licensing RightsOctober 26 - Bruce Brown drilled a career-high six 3-pointers to highlight his 24-point performance, lifting the Indiana Pacers to a 143-120 victory over the Washington Wizards in the teams' season opener on Wednesday in Indianapolis. Wizards forward Kyle Kuzma scored 25 points in his first game since signing a four-year, $90 million contract in the offseason. Hield sank a step-back 3-pointer to begin the fourth quarter and Aaron Nesmith, Brown and Mathurin each added another to push the Pacers' lead to 128-105. Poole's driving layup staked the Wizards to a 26-19 lead with 3:35 remaining in the first quarter before Indiana turned on the jets.

Persons: Kyle Kuzma, Jalen Smith, Trevor Ruszkowski, Bruce Brown, Brown, Tyrese Haliburton, Bennedict Mathurin, Buddy Hield, Myles Turner, Andrew Nembhard, Washington's Jordan Poole, Tyus Jones, Danilo Gallinari, Isaiah Jackson, Hield, Aaron Nesmith Organizations: Washington Wizards, Indiana Pacers, Gainbridge Fieldhouse, Pacers, Indiana, Washington, Thomson Locations: Indianapolis , Indiana, USA, Gainbridge, Indianapolis, Washington, Indiana, Haliburton

☆ ECB pauses interest rate hike campaign as recession in Europe looms
▼ + stars: | 2023-10-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The European Central Bank (ECB) held off raising interest rates Thursday for the first time in 15 months as evidence mounts of a deepening economic downturn in Europe. The ECB kept the benchmark interest rate in the 20 countries that use the euro at 4%, its highest level since the launch of the currency in 1999. The decision to pause after 10 consecutive rate hikes follows a series of data showing a continued decline in inflation and a further slowdown in economic activity. A survey published Tuesday of euro area companies in manufacturing and services showed a steep decline in output as demand weakened. “There is much to suggest that a recession in Germany is well underway,” de la Rubia said this week.

Persons: ”, Cyrus de la Rubia, la Rubia Organizations: London CNN, European Central Bank, ECB, Companies, Hamburg Commercial Bank, Global, PMI Locations: Europe, Hamburg, ” Germany, Europe’s, Germany

☆ China's crackdown on Foxconn, one of Apple's biggest suppliers, shows Beijing is willing to sacrifice its economy for political power
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

China has launched investigations into Taiwan's Foxconn over its land use in mainland China. AdvertisementAdvertisementEven Foxconn, China's largest private-sector employer, isn't immune from Beijing's whims. Foxconn, also known as Hon Hai Precision Industry, is a huge contributor to China's employment and economic growth. Given how important Foxconn is to China's economy, it's a sign that Beijing is willing to make some sacrifices in its economy for political reasons, Liu said. China's economy is in tattersChina's economy has struggled to recover after nearly three years of on-off COVID-19 lockdowns.

Persons: —, Terry Gou, Foxconn, William Lai, KMT's Hou Yu, Ko Wen, Anna Ashton, Lai, China —, Gabriel Wildau, Zhu Fenglian, Dongshu Liu, Liu, they've, Insider's Linette Lopez, Xi, Lee Miller, Lopez, Liu Pengyu Organizations: Service, Hai Precision Industry, Apple, Democratic Progressive Party, ih, Taiwan People's Party, Eurasia Group, Gzero Media, KMT, Teneo Holdings, Bloomberg, Foxconn, Taiwan Affairs Office, City University of Hong, WPP, DC Locations: China, Beijing, Taiwan —, Taiwan, Taipei, New York, City University of Hong Kong, tatters, Washington, Foxconn

☆ COVID lockdown training base kept Shami sharp for World Cup comeback
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Shami claimed 5-54 in Dharamsala on Sunday to help the hosts to a four-wicket win and a 5-0 unbeaten record at the tournament. Shami said he would rather be training at the home pitch than taking a break from the game. "Sometimes it happens that when you are busy for 12 months, you get relaxed after going home," said the 33-year-old. Shami replaced Pandya, who injured his left ankle during India's seven-wicket win over Bangladesh last week. Shami said he had not minded sitting out India's first four World Cup matches.

Persons: India's Mohammed Shami, Rohit Sharma, Zealand's Daryl Mitchell REUTERS, Adnan Abidi, Mohammed Shami, lockdowns, Shami, Pandya, India's, Chiranjit, Robert Birsel Organizations: Cricket, ICC Cricket, Himachal Pradesh Cricket Association, New Zealand, West Indies, September's Asia, Bangladesh, Caps, England, Thomson Locations: India, New Zealand, Himachal, Dharamsala, Amroha, Uttar Pradesh, Lucknow, Bengaluru

This remote town is also where an alleged graft and money-laundering scheme related to the El Calafate hotels owned by the Kirchner family took place. In El Calafate, architect Walter Pieroni said some properties on the edge of the main commercial center could go days without water because of poor planning. In Santa Cruz, a province of some 333,000 people, fixing things was once the role of the Kirchners. Under the Kirchners, an airport was built in El Calafate, roads were paved to the glaciers, and plots of land were distributed to locals. "But they created a model that does not work and now our children have no future in this country," said Feldman, who has lived in El Calafate since 1987.

Persons: RIO, Alicia Kirchner, Kirchner, Javier Milei, Milei, " Kirchner, Nestor Kirchner, Cristina Fernandez de Kirchner, Fernandez de Kirchner, Alberto Fernandez, Patricia Bullrich, Sergio Massa, Santa Cruz, Brian Franco, Moreno, Franco, Eugenio Quiroga, El, Walter Pieroni, Weeks, Pieroni, Guillermo Carnevale, Peronist Fernandez, Mauricio Macri, Kirchnerism, Ana, Guerrero, hadn't, We've, Danny Feldman, Feldman, Lucinda Elliott, Adam Jourdan, Daniel Wallis Organizations: Peronist, Reuters, International Monetary Fund, El, Suppliers, Thomson Locations: Argentina, Rio Gallegos, Santa Cruz, Santa, China, Brazil, El Calafate, Spain, Germany, Buenos Aires

☆ Supreme Court blocks restrictions on Biden administration efforts to remove contentious social media posts
▼ + stars: | 2023-10-20 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

WASHINGTON — The Supreme Court on Friday blocked in full a lower court ruling that would have curbed the Biden administration's ability to communicate with social media companies about contentious content on such issues as Covid-19. Donald Trump was president at the time, but the district court ruling focused on actions taken by the government after President Joe Biden took office in January 2021. But the appeals court still required the White House, the FBI and top health officials not to "coerce or significantly encourage" social media companies to remove content the Biden administration considers misinformation. The administration turned to the Supreme Court hoping to freeze Doughty's ruling in full. The district court ruling was on hold while the Supreme Court decided what steps to take.

Persons: WASHINGTON —, Samuel Alito, Clarence Thomas, Neil Gorsuch, Alito, Jim Hoft, Donald Trump, Joe Biden, Terry Doughty, Biden, White, Karine Jean, Pierre, Vivek Murthy, Elizabeth Prelogar, Prelogar Organizations: Biden, U.S, Trump, Circuit, FBI, Supreme Locations: Louisiana, Missouri

Search resuls for: "-19 l"

25 mentions found