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Gold holds steady after biggest sell-off in 3-1/2 years
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: +2 min
An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. The jobs report led traders to once again shift their expectations of when the Fed will cut rates and by how much. The dollar hit a more than one-week high against its rivals, while the benchmark U.S. 10-year Treasury yields scaled its highest since June 3. Spot silver rose 0.9% to $29.43 per ounce, platinum was up 0.8% at $971.10 and palladium gained 1.1% to $922.38.
Persons: Kelvin Wong, Jerome Powell, Wong Organizations: Co, Reserve, Asia Pacific Locations: Bangkok, Thailand, China, OANDA
An employee arranges gold bars for a photograph at the YLG Bullion International headquarters in Bangkok, Thailand. The gold mining industry is struggling to sustain production growth as deposits of the yellow metal become harder to find, according to the World Gold Council. According to data from the international trade association, mine production inched up only 0.5% in 2023 compared to a year ago. In 2022, the growth was 1.35% year on year, the year before it was 2.7%, while in 2020, global gold production logged the first decline in a decade, sliding 1%. New gold deposits are becoming harder to find around the world as many prospective areas have already been explored, he elaborated.
Persons: We've, we've, John Reade, Reade Organizations: World Gold Locations: Bangkok, Thailand
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. CNN —In this week’s roundup of travel news, we bring you the world’s best restaurants for 2024, Disneyland’s epic expansion plans and the little museum in rural England that’s become a YouTube hit. World’s best restaurants1. This famed Barcelona eatery was one of five restaurants in Spain to make this year's World's 50 Best Restaurants list. Dubai has more “best” restaurants than any other destination in the Middle East, according to the 50 Best group.
Persons: England that’s, He’s, that’s, AirlineRatings.com, Disney World’s, Peter Pan, Francesc Guillamet Ferran, Asador, Bruno Verjus, Philippe Vaures Santamaria, Dabiz Muñoz, Diverxo, Diverxo Maido, Maido, Atomix, Evan Sung, Søren Gammelmark, Gaggan Anand, Don Julio, Pablo Domina World's Organizations: CNN, Canada House, American Airlines, Disney, Aberdeen Angus, Multicultural, CNN Travel, Finland Locations: England, New York, Paris, Normandy, Canada, Philippines, Bataan, Florida, Texas, Gulf, Asia, Pacific, Southern California, Japan, Tokyo, Disfrutar, Barcelona, Spain, Basque, Madrid, Spanish, Lima, Peru, New York City, Koreatown, Manhattan, Quintonil, Mexico, Copenhagen, Denmark, Bangkok, Thailand, Kolkata, Buenos Aires, Argentina, Hereford, Dubai, British, Soviet Union
World’s 50 Best Restaurants for 2024 revealed
  + stars: | 2024-06-06 | by ( Karla Cripps | ) edition.cnn.com   time to read: +5 min
CNN —Any doubts that Spain remains the fine dining center of the world may just have evaporated with the revealing of the World’s 50 Best Restaurants for 2024 list. As for the event’s host country, the US had two restaurants on this year’s 50 Best list. Three restaurants from Tokyo were awarded, with eatery Sézanne (voted Asia’s best restaurant in 2024) ranking the highest in the Japanese capital, at 15. Restaurants can only win the top prize once, after which they’re entered into a separate “Best of the Best” program. The world’s 50 best restaurants 20241.
Persons: , Barcelona’s, it’s, Oriol Castro, Eduard Xatruch, El, Victor Arguinzoniz, Paris, Bruno Verjus, Diverxo –, Lima’s, Gaggan Anand, York City’s Atomix, SingleThread, they’re, Osteria Francescana, Asador, Don Julio, Quique, São, Tim Raue, Jane, Le, Schloss, Hiša Franko Organizations: CNN, Wynn, Sézanne, Restaurants Academy, of, Trèsind Locations: Spain, Las Vegas, Spanish, Bilbao, Peruvian, Mexico, North America, Mexico City, Vegas, Paris, Bangkok, Thai, York, Healdsburg, California’s Sonoma Valley, Tokyo, Hong Kong, Noma, Copenhagen, London, Modena, Italy, Mirazur, Menton, France, of Lima , Peru, Disfrutar, Barcelona, Madrid, Lima, Peru, New York City, Quintonil, Denmark, Thailand, Buenos Aires, Argentina, Dubai, UAE, Japan, England, Sangro, Steirereck, Vienna, Austria, Suhring, Odette, Singapore, Bogotá, Colombia, São Paulo, Brazil, Santiago, Chile, Berlin, Germany, Belcanto, Lisbon, Portugal, Rosetta, Frantzén, Stockholm, Sweden, Antwerp, Belgium, Rio de Janeiro, Sorn, Piazza, Alba, Le Du, Ikoyi, Seoul, South Korea, , California, Switzerland, Kobarid, Slovenia, Cape Town , South Africa
I've stopped making friends at work
  + stars: | 2024-06-04 | by ( Alexandra Karplus | ) www.businessinsider.com   time to read: +8 min
Because the city has a large transient population, I've seen many friends and coworkers come and go — but even this has had benefits. I've made trips to visit my work friends in their new homes around the world. Work friendships started back in New York and are still going strongThese types of strong connections with colleagues didn't just start in Singapore. More than half of those surveyed said they'd met a close friend through their work or a spouse's work. I haven't been introduced to any of my coworkers' friends or partners, nor has my husband met any of them.
Persons: , Peter, he'd, I've, I'm, didn't, Jacques Torres Chocolate, lockdowns, they'd, Slack, Vivek Murthy, Murthy, haven't Organizations: Service, Singapore Botanic Gardens, Business, Global, Business Insider, Research, Survey Center, American, Associated Press Locations: Singapore, New York, Guildford, Bali, , Manhattan, Dumbo , Brooklyn, Bangkok
The photo and footage of the so-called “tank man” became the defining image of the Tiananmen Square crackdown whose 35th anniversary passed on Tuesday. People hold candles at a vigil in Hong Kong to mark the Tiananmen Square anniversary on June 4, 2017. Jeff Widener/AP“I’m biking towards the Beijing Hotel and there’s just debris and charred buses on the ground,” he said. It went out.”A student protester before a burning armored personnel carrier that rammed through student lines, injuring many during an attack on pro-democracy demonstrators in Tiananmen Square, Beijing, on June 4, 1989. Several media outlets took a photo of “Tank Man,” but Widener’s shot was the most used.
Persons: Mike Chinoy, , Isaac Lawrence, Jeff Widener, Chinoy, Liu Heung, Widener, , Kirk Martsen –, Jonathan Schaer, He’d, , ” Schaer, “ I’m, ” Jeff Widener's, I’m, ” Liu, Liu, didn’t, ” Widener Organizations: University of Southern, China Institute, CNN, American Journalists, Chinese Communist Party, Getty, Associated Press, AP, of, People, Beijing, Widener, Sony Locations: University of Southern California’s US, Beijing, Asia, China, People’s Republic, Hong Kong, British, AFP, CNN’s Beijing, , Bangkok, CNN’s, Tiananmen Square, Beijing –
That made me think: If this is 'real' Chinese food, then is there 'real' Thai food too?" Eitharong told Business Insider. His goal was to continue learning more about Thai food. Parisa PichitmarnDespite Eitharong's culturally mixed upbringing, he sticks to authentic Thai food and never fusion. A few people have claimed he's not cooking Thai food because he's American.
Persons: , Dylan Eitharong, Eitharong, he'd, voraciously, Haawm, Hanuman Aspler, Chiang Mai, Covid, Curry, wouldn't, jee, Randy Travis, Prince, Beyoncé, juan, Dylan, I'm, grandmas, Siradej Donavanik, Vincent Vichit, Vadakan, He's, Parisa Pichitmarn Organizations: Service, Business, Michelin, BI, Food Locations: Florida, Thai, Orlando, Thailand, Bangkok, Onnut, America
Bangkok, Thailand has seen an 18.1% growth in residential rental prices on a year-on-year basis, according to JLL. Alexander Spatari | Moment | Getty ImagesSingapore and Hong Kong are generally considered Asia's more vibrant real estate markets. But some up-and-coming cities are giving these traditional hubs a run for their money, with some even beating them on rental yields. The following four cities have led the recovery in rental growth in Asia so far this year:Bangkok, ThailandResidential rental growth in Q1 2024 (y/y): +18.1% Average price to rent: THB 8,292 (about $226) per square meter annually "Rental demand has been surging in Bangkok," Allan said. This rental growth has been influenced by the stronger rent prices recorded in new high-quality offerings in the city, according to the report.
Persons: JLL, Alexander Spatari, Hong Kong, Roddy Allan, Allan, Ho Organizations: Getty Images, realty, Pacific Chief, CNBC Locations: Bangkok, Thailand, Getty Images Singapore, Hong Kong, Hong, Ho Chi Minh City, Jakarta, Manila, Asia, Pacific, expats, Vietnam, Indonesia, Philippines
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year. Bullion prices are up 0.3% so far this week and 2.5% so far in the month. Spot silver fell 0.8% to $30.95 per ounce, but was set for its biggest monthly gain since July 2020. Platinum was down 0.2% at $1,021.94 and palladium lost 0.2% to $945.56.
Persons: Kyle Rodda, Yeap Jun Rong Organizations: Co, Federal Reserve Locations: Bangkok, Thailand, U.S
Read previewWhen they felt their plane lurch and plummet, Ade Tan and Amos Chan, both 28, barely had time to react. We were planning to continue our honeymoon after that, so we were coming back just for a day," Tan said. SQ321 made an emergency landing in Bangkok after it was hit by severe turbulence. Being trained medical doctors, Tan and Chan went around the cabin to tend to injured passengers. I went more toward the front of the plane while Amos went to the back," Tan said.
Persons: , Ade Tan, Amos Chan, Amos, Tan, Chan, SQ321, Lillian Suwanrumpha, Ade Tan Rushing, Geoffrey Kitchen, Kitchen, weren't Organizations: Service, Business, Singapore Airlines, SIA, Changi Airport, Singapore Airlines Boeing, Getty, Safety Investigation, Boeing, Facebook, Transport Safety Investigation Locations: Italy, Iceland, London, Singapore, Bangkok, AFP, Myanmar
CNN —Some travelers pick a city break based on the destination’s cultural offerings – shortlisting the best museums and galleries to visit. It’s these gourmand travelers Time Out had in mind when the global media organization put together a new ranking of the world’s best foodie cities. “Food is everything when traveling,” Grace Beard, Time Out’s travel editor told CNN Travel. The city’s Central restaurant, recently named as number one in the 2023 World’s 50 Best Restaurants awards, naturally gets a mention too. Alexandr Milodan/iStockphoto/Getty ImagesOther cities on the list include Ho Chi Minh City (number four), Beijing (number five) and Bangkok (number six).
Persons: ” Grace Beard, margherita, Maradona’s, Andrea Viviani, , Santa, It’s, Diego Armando Maradona, Roberto Madrid, Cris Bouroncle, Thando Moleketi, Williams, Alexandr Milodan, Ho, Out’s Grace Beard, Beard, Alice Porter Organizations: CNN, CNN Travel, Santa Maradona, Naples, Getty, De, Liverpool, Michelin, Food Locations: Italian, Naples, , Lima, Peru, Peruvian, AFP, South African, Johannesburg, Braamfontein, De Beer, African, Ho Chi Minh City, Beijing, Bangkok, Portland , Oregon, , Portland, Liverpool, Cities, Italy, South Africa, Vietnam, China, Thailand, Kuala Lumpur, Malaysia, Mumbai, India, Dubai, UAE, Portland, USA, Medellín, Colombia, Seville, Spain, Porto, Portugal, Marrakech, Morocco, Lyon, France, Sydney, Australia, Montreal, Canada, Osaka, Japan, Copenhagen, Denmark
Read previewThe turbulence on the deadly Singapore Airlines flight last week was so severe that the plane dropped 178 feet in just four seconds, investigators say. The report details just how suddenly the plane experienced a catastrophic drop, one of the worst turbulence incidents in recent history. The pilots reacted by disengaging the autopilot and manually stabilizing the aircraft for about 20 seconds before re-engaging the autopilot, investigators said. According to the report, the entire incident, from slightly rough air to deadly turbulence, lasted just one minute and two seconds. According to the investigators' report, once the pilots learned that passengers were injured, they diverted the flight to Bangkok.
Persons: , it's Organizations: Service, Singapore Airlines, Transport Safety Investigation, Business, Associated Press, Passengers, Forbes Locations: London, Singapore, Myanmar, Bangkok
An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to multi-week peaks. "Investors will try to position themselves in gold because overall long-term fundamentals are looking pretty strong for gold at the moment." While gold is used as a hedge against inflation, rate hikes raise the opportunity cost of holding non-yielding bullion.
Persons: Soni Kumari, Tim Waterer Organizations: Co, U.S ., Treasury, ANZ, KCM, Traders, BHP, Monetary Fund Locations: Bangkok, Thailand, U.S, China
Bangkok CNN —Thailand’s former Prime Minister Thaksin Shinawatra has been indicted on lese majeste charges, authorities said Wednesday, in the latest twist in a decades-long political saga in the Southeast Asian kingdom. The case, filed by police, alleged Thaksin violated Thailand’s notoriously harsh royal insult law during an interview he gave in 2015 to the South Korean newspaper Chosun Ilbo. “The attorney general has decided to indict Thaksin on all charges,” spokesperson Prayuth Bejraguna, told reporters Wednesday. Earlier this month, the death of a young Thai activist in pre-trial detention for lese majeste charges shocked many in the country and sparked renewed calls for justice reform. A push to reform the lese majeste laws gained significant traction ahead of the 2023 general election, which saw the progressive Move Forward Party win the most votes.
Persons: Bangkok CNN —, Thaksin Shinawatra, Thaksin, Thailand’s, Prayuth Bejraguna, , Thaksin’s, Paetongtarn, Chiang Mai, majeste, King Maha Vajiralongkorn, King Bhumibol Adulyadej Organizations: Bangkok CNN, South Korean, Chosun Ilbo, Manchester City Football Club, Thai Lawyers for Human Rights, Party, Constitutional Locations: Bangkok, Thailand, Thai
Read previewA friend recently said that living in Southeast Asia was akin to winning one of Willy Wonka's golden tickets. AdvertisementIt's been 14 years since the author arrived in Southeast Asia. Yet Western media obsessions — US presidential elections and divisive identity politics, to name but two — are not given the same relentless prominence here. I've not lived in Scotland since 2007, and the axis of my life — wife and son, friends, work networks, clients — is almost entirely Asia-orientated. We are heading back to Scotland this July, and I can't wait to catch up with friends and family and show my son Alex the Highlands for the first time.
Persons: , Willy Wonka's, batty, Mr Wonka, Thailand's, It's, Duncan Forgan, kao, he's, Chiang Mai, Alexander, I'm, Alex the Organizations: Service, Business, South, Tamil Nadu, Royal, Alex the Highlands Locations: Southeast Asia, Bangkok, Chinatown, Thai, Jok, Ojo, Thailand, Vietnam, Asia, Pacific, soi, South, Western Australia, Scotland, London
Singapore Airlines has tweaked its in-flight seatbelt sign policies and altered at least one flight route after a turbulence incident this week killed one person and left dozens more hospitalized, according to the airline and flight data. The airline is adopting a more cautious approach to turbulence, including not serving hot drinks or meals when the seatbelt sign is on, it said in a statement to Singapore broadcaster Channel News Asia. “SIA will continue to review our processes, as the safety of our passengers and crew is of utmost importance,” it said. The daily London-to-Singapore route SQ321 has completed two flights since the incident and not flown over the part of Myanmar where the sudden turbulence occurred about three hours before scheduled landing. They flew instead over the Bay of Bengal and Andaman Sea, route data from flight tracker FlightRadar 24 shows.
Organizations: Singapore Airlines, Channel News Asia, “ SIA, Boeing, Srinakarin Locations: Singapore, London, Bangkok, SQ321, Myanmar, Bengal, Andaman
Singapore Airlines ranked as the No. Singapore Airlines altered its in-flight seatbelt rules and changed at least one flight route following Tuesday's turbulence incident which led to an emergency landing in Bangkok . The interior of Singapore Airline flight SQ321 is pictured after an emergency landing at Bangkok's Suvarnabhumi International Airport, Thailand, May 21, 2024. Singapore Airlines said in a separate statement that a total of 44 passengers and two crew remain in hospital. Turbulence-related incidents are the most common type of accident suffered by commercial airlines, according to the U.S. National Transportation Safety Board.
Persons: Tuesday's, Bangkok's, CNBC's Sophie Kiderlin Organizations: Singapore Airlines, SIA, CNBC, Singapore Airline, Singapore Boeing, Srinakarin Hospital, Associated Press, AP, U.S . National Transportation Safety, NTSB, Aviation Safety Network Locations: Bangkok, Thailand, London, Singapore, Myanmar, Bengal
How private equity rolled Red Lobster
  + stars: | 2024-05-24 | by ( Gretchen Morgenson | ) www.cnbc.com   time to read: +9 min
In this photo illustration, a cooked lobster is displayed on a plate at a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Under the terms of the sale, Red Lobster would also see regular rent increases of 2% a year, the release noted. "All of the people who were supplying Red Lobster, all of the people who are essentially providing services to Red Lobster, the small businesses in the communities affected by mass layoffs, they are next in line, they are experiencing the ripple effect." Sen. Edward Markey, a Democrat from Massachusetts, where eight hospitals operated by bankrupt Steward Health Care are, recently held hearings on private equity and health care. Private equity is emerging in all parts of our economy, Markey added, but its most profound impact is in health care.
Persons: didn't, Josh Olshansky, leaseback, Red, Moody's, Andrew Park, Oscar, Robert Reich, Bill Clinton, America's, Reich, Austin Hurst, Hurst, Sen, Edward Markey, Markey Organizations: Sears, Mervyn's, Steward, Manor Care, Companies, Golden, American Realty Capital Partners, Realty, Lobster, Financial Reform, Thai Union Group, Thai Union, Steward Health, Department of Health, Human Services Locations: Austin , Texas, Canada, San Francisco, Golden, Bangkok, Thai, Arizona, Massachusetts
Read previewSingapore Airlines cabin crew were burned by boiling water when the plane encountered severe turbulence, a passenger told Sky News. "I'm looking around, you're seeing blood, you're seeing the ceilings falling through. On Wednesday, the airline said 74 passengers and six crew members remained in Bangkok. "This includes those receiving medical care, as well as their family members and loved ones who were on the flight," it added. "I assure all passengers and crew members who were on board the aircraft that we are committed to supporting them during this difficult time," he added.
Persons: , SQ321, Josh Silverstone, Silverstone, Peter Seah Organizations: Service, Singapore, Sky News, Business, Boeing, Silverstone, Singapore Airlines Board Locations: London, Singapore, Bangkok
CNN —Of the dozens of people hurt Tuesday during turbulence on a Singapore Airlines flight from London, more than 20 have suffered spinal injuries, according to a Bangkok hospital that treated some of the passengers. Flight SQ321 from London to Singapore was cruising at 37,000 feet on Tuesday when the plane dropped sharply before climbing several hundred feet, according to flight tracking data. Those injured on the flight included citizens from Australia, Malaysia, the United Kingdom, New Zealand, Spain, the United States and Ireland, the hospital previously said. Of the total 71 passengers who were reported injured on the flight, 55 people remain in hospital, including 40 at the Samitivej Srinakarin facility. Of the passengers and crew on board the original flight, 143 were flown to Singapore on a relief flight sent by Singapore Airlines on Wednesday morning.
Persons: Adinun Kittiratanapaibool, , haven’t, Geoff Kitchen, Organizations: CNN, Singapore Airlines, Thornbury, Theatre Group Locations: London, Bangkok, Thai, Singapore, Australia, Malaysia, United Kingdom , New Zealand, Spain, United States, Ireland
Passengers of Singapore Airlines flight SQ321 from London to Singapore, which made an emergency landing in Bangkok, greet family members upon arrival at Changi Airport in Singapore on May 22, 2024. SINGAPORE — More than 140 passengers and crew that were on the Singapore Airlines flight that made an emergency landing in Bangkok Tuesday after encountering severe turbulence arrived safely in Singapore early on Wednesday. One passenger died and 30 others were injured onboard the London to Singapore flight on Tuesday, which encountered "sudden extreme turbulence" about 10 hours after departing from Heathrow Airport. The Boeing 777-300ER, which was carrying carrying 211 passengers and 18 crew, was flying over the Irrawaddy Basin at an altitude of 37,000 feet when it experienced sudden turbulence. We also deeply apologise for the trauma experienced by all passengers and crew members on this flight," Singapore Airlines' CEO Goh Choon Phong, said in a video message posted on Facebook.
Persons: SQ321, Goh Choon Phong Organizations: Singapore Airlines, Changi Airport, Heathrow Airport, Boeing, Facebook Locations: London, Singapore, Bangkok, SINGAPORE
A Singapore Airlines passenger died Tuesday after a flight was hit by turbulence. Serious injuries due to turbulence are extremely rare, per FAA data. AdvertisementThe dangers of turbulence were made apparent on Tuesday when Singapore Airlines announced a passenger died on board a flight. It is also the first death on a Singapore Airlines flight since 2000. This story is available exclusively to Business Insider subscribers.
Persons: , Geoff Kitchen Organizations: Singapore Airlines, Service, Bangkok Airport, Skytrax, Business
The Singapore Airlines incident this week is a reminder that passengers should always wear a seatbelt when flying, even if the seatbelt sign is off. The interior of Singapore Airlines flight SQ321 is pictured after an emergency landing at Bangkok's Suvarnabhumi International Airport. Singapore Airlines incidentThe damage on Singapore Airlines flight SQ321 saw panels and oxygen masks hanging from the ceiling. Obtained by Reuters/HandoutWhat happened with the Singapore Airlines flight was an extreme case. I don't ever worry about flying, and even after the Singapore Airlines incident, I wouldn't worry about flying because I know it's so unusual.
Persons: , Emma Henderson, Stringer, it's, you'll Organizations: Service, University, Singapore Airlines, Business, REUTERS, Reuters, Pilots Locations: Bangkok, Geneva
A man died and dozens of others were injured due to turbulence on a Singapore Airlines flight. Videos and photos from inside the cabin show the extent of the damage, including a bloodied ceiling. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA 73-year-old British man died, and 71 others were injured when a Singapore Airlines flight was hit by severe turbulence on Tuesday. 80 people are still in Bangkok, including those receiving medical care and their families or loved ones, according to the airline.
Persons: Organizations: Singapore Airlines, Service, Boeing, Business Locations: Bangkok, London Heathrow, Singapore Changi, Myanmar
At least seven people are critically injured after a Singapore Airlines flight traveling from London to Singapore experienced severe turbulence and was forced to make an emergency landing in Thailand, according to Kittipong Kittikachorn, the general manager of Bangkok's Suvarnabhumi International Airport. Earlier, the airport official confirmed a 73-year-old British man had died. Kittikachorn also told CNN on Tuesday that he was informed about the emergency landing in Bangkok just ten minutes before it touched down. Previously, the airport official said the majority of injuries sustained on board were cuts and bruises. “It took us one and a half hours to evacuate all passengers,” Kittikachorn stated.
Persons: Kittipong Kittikachorn, Bangkok's, Kittikachorn, ” Kittikachorn Organizations: Singapore Airlines, Authorities, CNN Locations: London, Singapore, Thailand, Bangkok
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