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☆ First France, now South Korea — Telegram's legal troubles are only growing. Here's why
▼ + stars: | 2024-09-03 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesFollowing the recent arrest of its founder in France, Telegram is now facing potential legal troubles in South Korea. Parallels in the casesDurov, the 39-year-old Russian-born billionaire, was arrested by French authorities following a preliminary investigation into Telegram launched on July 8. Similar to South Korea's investigation, French authorities were probing the platform's role in the distribution of pornographic images of minors, as well as facilitating organized crime, drug trafficking and fraud. Telegram's refusal to share information with investigators when required by law has also been noted in the French investigation. Now, in South Korea, they are attracting distributors of deepfake porn.

Persons: Pavel Durov, Durov, Woo Jong, Woo Organizations: Nurphoto, Yonhap News Agency, National Office of Locations: Krakow, Poland, France, South Korea, Russian, U.S, Brazil, Germany

☆ Turkmenistan’s flaming ‘Gates of Hell’
▼ + stars: | 2024-08-30 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

Darvaza, Turkmenistan CNN —Rarely does an industrial accident develop into a major tourist attraction. Mysterious originsNo one is quite sure when the gas crater opened, apparently because the Soviet-era reports are missing, incomplete or still confidential. Reaching DarvazaThe gas crater lies a four-hour drive north of Ashgabat, the national capital. Located around a five-minute walk from the crater rim, the camp features yurts with beds and chairs, a shaded dining area and porta-potty/outhouse-style toilets. Garagum lies about a 10-minute walk from the crater rim and even closer to a small rocky mount where visitors can snatch a bird’s-eye-view of the Gates of Hell.

Persons: Hell, Joe Yogerst “, ”, Ged Gillmore, Dylan, wasn’t, George Kourounis, who’s, Kourounis, I’ve, Garagum, “, there’s Organizations: Turkmenistan CNN, Central, Geographic, NASA, futon, CNN Travel Locations: Darvaza, Turkmenistan, Soviet, Central Asian, “, Central Asia, Canadian, Ashgabat, Iwanami_Photos, Bokurdak, Darwaza, porta, Hell

☆ Brands are so scared of culture wars and controversy that it's ripping apart the media business
▼ + stars: | 2024-08-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +12 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesBut it wasn't until Trump's 2016 election that brand safety really entered the mainstream marketing vernacular — and the culture wars. In 2023, more than 21,400 jobs were cut in the US media industry, according to the employment agency Challenger, Gray & Christmas. But some industry experts think it's too late to put the "content adjacency" genie back in the bottle. AdvertisementThe result, Tobaccowala fears, is a further winnowing of the media industry where only the biggest platforms and individual content creators survive.

Persons: —, Elon Musk's, Donald Trump, Alex Marlow, Breitbart, Mark Penn, Tobaccowala, Tucker Carlson, Ingraham, Jessica Sibley, Taylor, Taylor Swift, Vittorio Zunino Celotto, Penn, it's, Richard Raddon, Ben Shapiro, Shapiro, Gregory Woodman, John Deere, Davidson, Kid, Bud, Bud Light, influencer Dylan Mulvaney, Gene J, Rob Kim Organizations: Service, Global Alliance, Responsible Media, Business, Breitbart News, News Corp, Groupe, Association for National, Companies, Giants, YouTube, Fox, Fox News, Facebook, Poets Department, Challenger, Getty, Penn, Publishers, The Daily, State of, US Department of State, Supply, Harley, Associated Press Locations: Ukraine, State of Texas, America

☆ Nvidia has lots of questions to answer in this week's earnings call on product delays, competition, and China
▼ + stars: | 2024-08-27 | by ( Emma Cosgrove | Helen Li | ) www.businessinsider.com time to read: +7 min

Its next-generation Blackwell chip faces delays, raising questions about supply-chain impacts. As Nvidia prepares to report its second-quarter earnings on Wednesday, some of those questions are still relevant, while some have faded away. Efforts by other companies to build competitive AI chips haven't reached more than a simmer, and the rollout of Nvidia's next-generation Blackwell chip is said to be delayed. The analysts also wrote that revenue from existing products, specifically the H200 and H20 AI chips, could offset any delayed revenue from the Blackwell chip. AdvertisementNvidia's chips are still a must for the most complex AI-computing jobs, as Amazon still purchases chips from Nvidia.

Persons: Blackwell, —, Nvidia's, ChatGPT, China . Blackwell, weren't, Dylan Patel, Morgan Stanley, Dan Morgan, Meta, Mark Zuckerberg, we're, Zuckerberg, Lisa Su, Synovus, Morgan, Jensen Huang Organizations: Nvidia, Service, North Star, Google, Microsoft, JPMorgan, Amazon, AMD, Reuters Locations: China, Synovus

☆ Meet the 'silver squatters': Adults in their mid-50s who are woefully unprepared for retirement
▼ + stars: | 2024-08-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Thomas is among what retirement experts are calling "silver squatters" — adults in their mid-50s who are even more woefully unprepared than some boomers, despite being about a decade away from retirement. This group of Gen Xers — the generation of Americans aged 43 to 59 — largely expects to postpone or work past their retirement. AdvertisementA majority also don't expect to receive any inheritance, despite their boomer predecessors holding onto trillions in wealth. The gap in retirement readiness could be due to the "unique" challenges of Gen Xers, according to Dylan Tyson, the head of retirement strategies at Prudential. Around half of Gen Xers are saving without a general plan for retirement, Prudential found.

Persons: Jim Thomas, he's, Thomas, He's, Pete Welch, Gen Xers, they'll, René, We're, Xers, Dylan Tyson, Inspira's Welch, there's, Welch, Tyson, expectancies, undersaved — Organizations: Service, Business, Social Security, Prudential Financial, Inspira, Prudential Locations: Austin , Texas

☆ How the Mongols Motorcycle Club works, according to a former member
▼ + stars: | 2024-08-22 | by ( Victor Hugo Febres | Dylan Brzezinski | ) www.businessinsider.com time to read: 1 min

Justin DeLoretto served as a chapter president of the Mongols Motorcycle Club for 15 years in Oregon, Missouri, Illinois, and Indiana. He also influenced the founding of one of the largest Australian chapters, which served as a base for expansion into Asia. DeLoretto discusses initiation, prospecting, getting a patch, and brotherhood within the club. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Persons: Justin DeLoretto, DeLoretto Organizations: Mongols Motorcycle Club, Hells Angels, Outlaws, Pagans, Business Locations: Oregon , Missouri , Illinois, Indiana, Asia

☆ Harris' foreign policy record suggests focus on China, Indo-Pacific, CFR political scientist says
▼ + stars: | 2024-08-21 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

U.S. Vice President Kamala Harris and Philippines President Ferdinand Marcos Jr., along with their partners, meet at the Vice President's residence in Washington, DC, U.S., on Tuesday, May 2, 2023. Bloomberg | Bloomberg | Getty ImagesVice President Kamala Harris would likely prioritize countering China and strengthening partnerships in the Indo-Pacific region if she were to win the White House, according to American political scientist Rush Doshi. watch nowOn Sunday, the DNC released the 2024 policy platform document ahead of its convention. For insight into Harris' position on the Indo-Pacific, Doshi instead suggested taking into account the policymaker's past work there. Those leaders include now Taiwanese President William Lai in January while he was still vice president and Chinese President Xi Jinping later that same year.

Persons: Kamala Harris, Ferdinand Marcos Jr, Rush Doshi, Harris, Doshi, shouldn't, Joe Biden, William Lai, Xi Jinping, Fumio Kishida, Mike Johnson, Win Mcnamee Organizations: Bloomberg, Getty, White, Democratic, Committee, Europe, China Strategy Initiative, Council, Foreign Relations, DNC, Biden, U.S, Capitol Locations: Philippines, Washington , DC, China, Pacific, Europe, Asia, Hong Kong, Xinjiang, Philippine, Australia, United Kingdom, India, Japan

☆ NFL Draft 2025 Big Board: Will Johnson, Abdul Carter lead Dane Brugler’s initial top 50
▼ + stars: | 2024-08-21 | by ( Dane Brugler | ) www.nytimes.com time to read: +46 min

Position CB CB/WR DT Edge LB OT QB RB S TE WR iOL Class Jr. R-Jr. R-So. Photo: Jonathan Bachman / Getty Images OT Jr. 11 Benjamin Morrison CB Notre Dame Height: 6-0 Weight: 186 Class: Jr. Photo: Tim Warner / Getty Images CB Sr. 42 Barrett Carter LB Clemson Height: 6-0 Weight: 234 Class: Sr. Photo: Kevin C. Cox / Getty Images WR Jr. 50 Drew Allar QB Penn State Height: 6-4 Weight: 230 Class: Jr. Photo: Joe Robbins / Icon Sportswire via Getty Images QB Jr.(Illustration: John Bradford / The Athletic; Photos of Carson Beck, Will Johnson and Travis Hunter: Rich von Biberstein / Icon Sportswire via Getty Images; Gregory Shamus, Ryan Kang / Getty Images)

Persons: Will, Johnson, “ can’t, Devon Witherspoon, Derek Stingley Jr, Sauce Gardner, Thomas Shea, Abdul Carter, LaVar Arrington, NaVorro Bowman, Micah Parsons, Carter, Tom Allen, Scott Taetsch, Travis Hunter, Hunter, Deion Sanders, Ron Chenoy, Jr, Mason Graham, Graham, NFL hasn’t, Quinnen Williams, Williams, Bailey, James Pearce Jr, Pearce, Pierce, —, Donald Page, Tetairoa McMillan, McMillan, Malik Nabers, Rome Odunze, Jedd Fisch, Noah Fifita, Ivan Pierre Aguirre, Luther Burden, Burden, Theo Wease, Brady Cook, Johnnie Izquierdo, Carson Beck, Beck, Stetson Bennett, Brock Bowers, Matt Ryan, Megan Briggs, Starks, Bo Nix, hasn’t, Jamal Adams, Kim Klement Neitzel, Will Campbell, Campbell, Jonathan Bachman, Benjamin Morrison, Morrison, Darryl, Morrison’s, Matt Cashore, Shavon Revel Jr, Revel, wasn’t, Scott W . Grau, Emery Jones Jr, Joe Alt, Blake Fisher, Troy Fautanu, Roger Rosengarten, Caedan Wallace, Jones, Jones wasn’t, Julio Aguilar, Williams hasn’t, Travon Walker, ”, Jeff Blake, Edge, Kelvin Banks Jr, Banks, Steve Sarkisian, Bijan Robinson, Jonathon Brooks, Xavier Worthy, Adonai Mitchell, Nick Tre . Smith, Tyleik Williams, Joseph Maiorana, Deone Walker, Walker, Joe Robbins, Shedeur Sanders, Sandersmania, Sanders, Eli, Manning, “, Sr, Nic Scourton Edge, Scourton, Jeff Brohm, Zach Bolinger, Harold Perkins Jr, Perkins, Brian Kelly, Blake Baker, Baker, who’s, David Rosenblum, Colston, McCarthy, Sherrone Moore, Aaron J, Thornton, Jonah Savaiinaea, Savaiinaea’s, Savaiinaea, Louis, Kevin Langley, Quinn Ewers, Ewers, Ewers wasn’t, Ron Jenkins, Conner Weigman, Weigman, Jimbo Fisher’s, Fisher, Bobby Petrino, Collin Klein, Mike Elko, Maria Lysaker, Jeanty, Chris Williams, Ersery, isn’t, Jason Mowry, JT Tuimoloau, Tuimoloau, Matthew Visinsky, Lander Barton, Barton, Morgan Scalley, Cody, Jackson, Lander, Chris Gardner, Patrick Payton, Payton, Jermaine Johnson, Jared, Isaiah Vazquez, Kenneth Grant, Grant wasn’t, Grant, Troy Taormina, Mansoor Delane, Dorian Strong, Rich Schultz, Maxwell Hairston, Andru Phillips, Kentucky’s, Phillips, Hairston, Carly Mackler, Egbuka, Stroud, Marvin Harrison Jr, Garrett Wilson, Chris Olave, Rick Osentoski, Denzel, Burke, Tim Heitman, Ollie Gordon II, Gordon, Barry Sanders, Brian Bahr, QB Drake Maye, Rich von Biberstein, Ayomanor, Henderson, Danny Stutsman, Stutsman, Lincoln Riley, Brent Venables, Landon Jackson, Preston Smith, Petre Thomas, Jalon Walker, it’s, Quay Walker, Nolan Smith, Perry McIntyre, Jahdae Barron, Barron, Barron doesn’t, Tim Warner, Barrett Carter, Kirby Smart, Dabo Swinney’s, Ken Ruinard, Isaiah Bond, Bond, Jalen Milroe, Kevin C, Cox, Walter Nolen, Nolen, Ole Miss, Jack Sawyer, Sawyer, Dylan Buell, Darrell Jackson Jr, Don Juan Moore, Sam Brown, Cam Ward, Damien Martinez, Brown, Ken Murray, Deion Burks, Burks, Evan Stewart WR, Stewart, Dillon Gabriel, Drew Allar, Allar, Sean Clifford, Allar’s, Will Levis, John Bradford, Will Johnson, Gregory Shamus, Ryan Kang Organizations: NFL, Edge, Will Johnson, Michigan, Wolverines, Detroit, Washington, USA, Abdul Carter Edge, Penn, Indiana, Nittany Lions, Parsons, FCS Jackson State, FBS, Stanford, School, UCLA, Getty, SEC, Arizona, Missouri, Tigers, Bulldogs, Oregon, LSU, Benjamin Morrison CB Notre Dame, Notre Dame, CB, Carolina, Louisburg College, Getty Images, Penn State, Baton, NC, Longhorns, Cass Tech High School, Buffs, Nic Scourton Edge Texas, College, Purdue, Boilermakers, Colston Loveland, St, Wildcats, College Football, Texas, Aggies, Kansas State, Ashton Jeanty, Boise State, Gophers, JT Tuimoloau Edge, Utes, Utah, Patrick Payton Edge, Miami Northwestern, Seminoles, Florida State, Mansoor Delane CB Virginia, Hokies, Virginia Tech, Giants, Buckeyes, Buckeye, Denzel Burke CB, Ollie Gordon II RB, Oklahoma State, Hampton RB, Appalachian State, ACC, Hampton, America, Alabama, Clemson, Tide, Ole Miss, Jack Sawyer Edge, Ohio State, Maryland, Terps, Miami, Hurricanes, West, Houston, Cougars, Sooners, — Penn State Locations: Michigan, Colorado, Servite, Calif, North Carolina, Tennessee, Georgia , Missouri , Texas, Rome, Arizona, Washington, Oklahoma, Georgia, Theo Wease , Missouri, Athens, USA, Louisiana, Alabama , Michigan, Oregon, Winston, Salem, East Carolina, Baton Rouge, Austin, Texas, Ohio, Columbus, Detroit, Alabama, Kentucky, Lexington, Dollaz, Colston Loveland TE, Gooding , Idaho, Loveland, Ann Arbor, American Samoa, Honolulu, College, Boise, Kansas City, JT Tuimoloau Edge Ohio, Utah, Patrick Payton Edge Florida, Miami, C.J, Fort Worth , Texas, Canada, Massachusetts, Notre Dame , Tennessee, Palo Alto, Lincoln Riley and Oklahoma, Alabama’s, But Texas, Jack Sawyer Edge Ohio, Florida, Savannah, Ga, West Virginia

☆ North Korea to reopen for international visitors, tour operators say
▼ + stars: | 2024-08-15 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

North Korea will resume international tourism this winter, ending a COVID-era ban on travelers, according to operators that organize tours to the country. This undated picture released by North Korea's official Korean Central News Agency (KCNA) on November 28, 2016 shows North Korean leader Kim Jong-Un (C) standing among skiers in Samjiyun. The efforts could help North Korea with its economic recovery from the devastating impacts of the global pandemic. The only nationalities restricted from travel to North Korea as tourists are citizens of the Republic of Korea. It is likely that an opening of Samjiyon is aimed at attracting Chinese travelers, who constituted the majority of international tourists visiting North Korea before the pandemic.

Persons: Kim Jong, Kim Jong Un Organizations: North, Korean Central News Agency, Department of State, NK News Locations: Koryo, Korean, Beijing, Samjiyon, North Korea, Samjiyun . North Korea, Russian, Koryo Tours, Republic of Korea, The U.S, Pyongyang, U.S

☆ Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts
▼ + stars: | 2024-08-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm's average stock price between April and June. Intel had cash and cash equivalents of $11.3 billion, and liabilities of about $32 billion at the end of June, according to its latest financials. Intel and Arm declined to comment on the sale when contacted by CNBC on Wednesday. Japan's SoftBank Group has a majority stake in Arm, and has been a beneficiary of the jump in the company's shares.

Persons: Pat Gelsinger, Gelsinger, Japan's Organizations: Intel, Arm Holdings, AMD, Qualcomm, Nvidia, Samsung, CNBC, Wednesday, Japan's SoftBank Locations: Santa Clara , California, California, South

☆ How Analyst Dylan Patel gets inside Nvidia to make connections from the semiconductor industry to the tech it enables
▼ + stars: | 2024-08-14 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. SemiAnalysis gets deep into the weeds on graphics processing units, from the base of the supply chain to the end-users building the AI models that require so many specialized chips. AdvertisementThe team consists of people across the entire supply chain, geographically and technically. So we have the entire view of the supply chain, from manufacturing, up to models. The other place I like to look a lot is random suppliers that are very small in niche parts of the supply chain, or suppliers of suppliers.

Persons: —, Jensen Huang isn't, Dylan Patel, SemiAnalysis, Sam Altman, Patel, Sundar, Altman, Blackwell, Nvidia's, They've, they're Organizations: Service, intel, Google, Business, BI, Nvidia, Microsoft, AMD, Meta Locations: US, Japan, Singapore, Taiwan, France

☆ Japan to benefit from a stronger yen and unwinding of carry trade, Monex Group's Koll says
▼ + stars: | 2024-08-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225

Persons: Jesper Koll, …, CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S

☆ Asia-Pacific markets open higher after volatile week; India inflation and industrial data in focus
▼ + stars: | 2024-08-12 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets opened higher on Monday after a roller-coaster week that saw steep sell-offs followed by a sharp recovery, especially in Japan stocks. Futures for benchmark U.S. indexes were lower as investors awaited key inflation data due later this week. Major Wall Street averages rose Friday, with the indexes making a sharp recovery from last week's volatile market rout. In Asia, traders on Monday will assess inflation and industrial output data from India. Meanwhile, India's industrial output for June is expected to come in at 5.5%, slightly down from 5.9% in May.

Persons: Dow Organizations: Nasdaq, Reuters Locations: Ahmedabad, India, Asia, Pacific, Japan

☆ Bear market is coming in 2025, warns David Roche, but the Fed will step in before it turns 'draconian'
▼ + stars: | 2024-08-12 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Veteran investor David Roche expects a bear market in 2025 caused by smaller-than-expected rate cuts, a slowing U.S. economy and an artificial intelligence bubble. "I think [a bear market] is probably coming, but probably in 2025. Roche expects the Fed to resist reducing rates to the market's desired 3.50%. "The second thing is that profits [won't] fulfill expectations, because the economy is going to be slowing," Roche warned. The third factor Roche expects will lead to a bear market is the AI sector.

Persons: David Roche, CNBC's, Roche Organizations: Quantum Strategy, U.S, Presidential

☆ Netball: This women’s sport has fought for over 50 years to be in the Olympics. Could Brisbane 2032 change its fortunes?
▼ + stars: | 2024-08-11 | by ( Emily Blumenthal | ) edition.cnn.com time to read: +15 min

Australia was crowned champion during the Netball World Cup Medal Presentation on August 6, 2023 in Cape Town, South Africa. “I think the leadership within netball, from World Netball, really needs to take a vigilant stance on it. For people in the netball world, she said, “That is your bread and butter: doing netball. More than 20 million people play netball in 76 member nations across five continents, according to World Netball. There are some voices in netball that don’t believe the drive to become an Olympic sport is a priority.

Persons: Serena Guthrie, Khadijah Williams, Hannah Peters, ”, “, That’s, Ashley Vlotman, Jenny van Dyk, Spar, Riana Bezuidenhout, They’ve, ” Bezuidenhout, Fiona McLachlan, ” McLachlan, ” van Dyk, Cara Koenen of, Guthrie, it’s, ” Guthrie, we’ve, Ryan Allan, Allan, Lewis Keeling, ” Dylan McPherson, Fiona Goodall, that’s, ” Allan said, Keeling, ” Keeling, Bailey Mes, Geva, Matt King, doesn’t, “ I’ve, ” Allan Organizations: CNN, Commonwealth Games, Netball, IOC, International Federation, Commonwealth, Games, team, University of Pretoria, World Netball, City, Paralympic Games, Netball Australia, Brisbane, Manor School, Wembley, Fox, Victoria University, “, England, Paris, Equality, Paris Games, Olympic, Netball Association, New Zealand Men's, Getty, Knights Netball, Allphones Arena, doesn’t Locations: Australia, Brisbane, United Kingdom, England, Jamaica, SECC, Glasgow, Bath, Los, Cape Town , South Africa, Spar Proteas, South, Cara Koenen of Australia, South Africa, New, Auckland , New Zealand, New Zealand, Sydney

☆ Social media keeps catching Wall Street off guard
▼ + stars: | 2024-08-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

In 2015, he created TickerTags, a social media data aggregator that tracks company mentions, and sold it to Jefferies' M Science. To be fair…Speculating and making decisions based on social media trends is a risky wager. Wall Street doesn't always respond to social media trends that could negatively drive fundamentals because there aren't tools to understand the impacts, McKeown noted. In the event a social media trend is mentioned, it's not factored into their valuation model, Ober added. How social media sentiment plays into a thesis should depend on an investor's time horizon.

Persons: It's, Bud Light's, influencer Dylan Mulvaney, BUD, Kirk McKeown, Chris Camillo, Jefferies, Camillo, Bud, didn't, Paul Johnson, Laxman Narasimhan, misperception, Sara Senatore, I've, Senatore, Chipotle, Keith Lee, dollies, Brian Niccol, Goldman Sachs, They're, Matt Ober, they're, I'd, McKeown, it's, Ober Organizations: Service, Business, Anheuser, Busch, Wall Street, Pew Research Center, Molson, TAP, Starbucks, Nicusa Investment, Columbia Business School, of America Locations: Palestine, Gaza, SBUX

On Thursday, investors in Asia will assess trade data from Japan and interest rate decision from the Reserve Bank of India. Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers. Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India's rate decision. "Assuming that the price stability target will be achieved in the second half of fiscal 2025, the Bank should raise the policy interest rate to the level of the neutral interest rate toward that time," the summary read. Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion) of its shares as part of its efforts to boost shareholder returns.

Persons: Shinichi Uchida, Lasertec, Korea's Kospi Organizations: Reuters, The Reserve Bank of, Reserve Bank of India, Global, Bank of Japan, Dow Jones, Nasdaq, Nvidia, Nikkei, Bank, SoftBank, Semiconductor, Isuzu Motors, China's CSI, Cathay, Hong Kong's, Airbus Locations: The Reserve Bank of India, Asia, Japan, U.S, Pacific, Hong, Cathay Pacific

Asia-Pacific markets extended gains on Wednesday, tracking Wall Street benchmarks that snapped a three-day losing streak overnight. It further sold 3.87 trillion yen worth of dollars on May 1, ministry data showed. Customs data showed on Wednesday that China's imports in July grew faster-than-expected, while export growth missed forecasts. Exports in U.S. dollar terms rose by 7% for the month compared to a year ago, missing economists' expectations for a 9.7% increase. Meanwhile, U.S. dollar-denominated imports rose by 7.2%, far more than the economist's forecast of 3.5%.

Persons: Canon, Shinichi Uchida Organizations: Nikkei, Mitsui, SoftBank, Bank of Japan, Bank, Japan's Ministry of Finance, China's CSI, . Locations: Qingdao Port, Shandong province, Qingdao, China, Asia, Pacific

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher. Japan's Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.

Persons: Topix, Korea's Kospi, Australia's, Brent Organizations: Nikkei, U.S ., Softbank Group Corp, South, South Korean, Samsung Electronics, chipmaker SK Hynix, . West Texas Locations: Ginza, Tokyo, Japan, Asia, Pacific

☆ Taiwan under pressure to bolster its defense as Trump-Harris presidential race stokes policy concerns
▼ + stars: | 2024-08-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +6 min

Taiwan President Lai Ching-te claps while he visits a military camp in Taoyuan, Taiwan May 23, 2024. While Biden has, on several occasions, stated the U.S. would come to Taiwan's defense, Trump has opted for "strategic ambiguity," Naggy added. According to analysts, she is expected to remain somewhat consistent with Biden's agenda and foreign policy. As vice president, Harris has expressed support for Taiwan and met with the island's new leader, Lai Ching-te, in 2022. However, she would come into office with significantly less foreign policy experience than President Biden.

Persons: Lai Ching, Ann Wang, Lin Chia, Donald Trump, Trump, Trump's, Joe Biden, Kamala Harris, Biden, Stephen Naggy, Naggy, Xi Jinping, Lu, Chung Weng, Muhammad Faizal, Richard Heydarian, Harris, Tina Fordham, CNBC's, Dewardric McNeal, McNeal, Lai, Ava Shen, Tsai Ing Organizations: Reuters, International Christian University, Sam Houston State University, Rajaratnam, of International Studies, Trump, CNBC, University of the, Fordham Global Foresight, Longview Global, Biden, Eurasia Group, Democratic Progressive Party Locations: Taiwan, Taoyuan, Reuters Taiwan, China, Taipei, Tokyo, Japan, U.S, Singapore, University of the Philippines, Beijing, Washington

☆ Millennial Internet Is Dead; RIP Neopets, Club Penguin, and Webkinz
▼ + stars: | 2024-08-01 | by ( Aimee Pearcy | ) www.businessinsider.com time to read: +13 min

At Club Penguin, I adopted colorful pets called puffles and purchased kitsch furniture for my virtual igloo. "I was big on Club Penguin, Wizard101, Moshi Monsters, and this obscure one called Ourworld," he told me. Club Penguin, which ran from 2005 to 2017, stands out as one of the era's most beloved virtual worlds. "That same generation logged into Club Penguin to play with friends." In 2017 it shut down Club Penguin and replaced it with a mobile version, Club Penguin Island.

Persons: millennials, Gen Zers, Dylan Maleno, Lance Priebe, I'd, Jake Hahn, they're, Sara Grimes, weren't, Flappy Bird, Disney, Toontown, they've, MMOs, Roblox, Ashley Hernandez, " Hernandez, Neopets, Dominic Law, Aimee Pearcy Organizations: Penguin, Disney, University of Toronto's, of Information, Fortnite, Facebook, The New York Times Locations: Pennsylvania, Wizard101, Moshi, Illinois, Fortnite, New York City

☆ TikTok-owner ByteDance's Singapore workers suffer mass food poisoning
▼ + stars: | 2024-07-31 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

TikTok-owner ByteDance's office in Singapore was hit by mass food poisoning on Tuesday, affecting 60 people, according to local authorities. In a joint statement sent to CNBC, the Singapore Food Agency and Ministry of Health said they were investigating suspected gastroenteritis cases at the China-based tech giant's office. According to TikTok's website, Singapore is one of its headquarters and ByteDance CEO Shou Zi Chew is a third-generation Singaporean citizen. The U.S. government passed a bill in April that seeks to force the app's Chinese owner to sell it or face a ban. TikTok is now suing the U.S. government to stop enforcement of the bill arguing that it violates the law.

Persons: ByteDance, Shou Zi Chew Organizations: CNBC, Singapore Food Agency, Ministry of Health, The Straits Times, Singapore Civil Defence Force, CNA Locations: U.S, Singapore, China, The U.S

☆ What to watch at Olympics today: Biles and U.S. go for gold, surfers chase waves — and medals — in Tahiti
▼ + stars: | 2024-07-30 | by ( Lukas Weese | ) www.nytimes.com time to read: +5 min

A gold medal in the team event would be the fifth of Biles’ career. Sign UpSurf’s up for goldAmerican Carissa Moore is looking to defend her gold medal. And don’t forget about Canadian Kylie Masse, a two-time world champion seeking her first Olympic gold. The U.S. will play New Zealand, the reigning gold medal team, in the first semifinal. The winner moves on to the gold medal match against the winner of Canada versus Australia, who play in the other semifinal.

Persons: Simone Biles, —, Jordan Chiles, Sunisa Lee —, Jade Carey, Biles, Kelsey Plum, Jackie Young, Rhyne Howard, Cierra Burdick, Hailey Van Lith, Jimmer, Barry, Kareem Maddox, Dylan Travis, Carissa Moore, Ed Sloane, Getty, Brazil’s Ítalo Ferreira, Tahiti Smith, McKeown, Australia’s Kaylee McKeown, United States ’ Regan Smith, Kylie Masse, Summer McIntosh, Jason Kelce, Ilona Maher, @ilonamaher, Stephen Nedoroscik Organizations: NBC, Biles, —, Tokyo Olympics, United States, Germany, Serbia, BYU —, United, U.S, USA, rugby, New Zealand, Canada, Rugby, Former Philadelphia Eagles, Team USA Locations: U.S, Italy, China, Brazil, Tahiti, Paris, Tokyo, Rio de Janeiro, Biles, United States, Rio, Great, Tuesday’s, Australia

The reality of the American air travel system is that powerful forces keep passengers flying the same carriers, even after service meltdowns like Delta just suffered. For passengers who live near one of the hubs where Delta controls most of the flights, such as Atlanta, Detroit, Minneapolis or Salt Lake City, choices are even more limited. But by Monday, the problems were mostly limited to Delta as other businesses were back to normal, adding to the frustration of its passengers. Delta canceled more than 4,400 flights from July 19 to 21, according to tracking service FlightAware. Past experience, plus the dominance of Delta in Atlanta and Don Hooper’s frequent flyer miles, would keep them using the airline.

Persons: Don Hooper, Dorothy, I’m, ” Don Hooper, “, ” Dorothy, Dorothy Hooper, ”, Don Hooper’s, Jeremy, Kaylee Jones, Lucia, Jeremy Jones, Zach Griff, won’t, McNamara, Joe Raedle, Scott Keyes, Delta, Dylan Steele, Steele, It’s, I’ve, … It’s, he’s, you’ve, “ We’ve Organizations: New, New York CNN — Delta Air Lines, Delta, CNN, St, Detroit Metropolitan Wayne County Airport, “ Locations: New York, Delta, United, Southwest, Atlanta, Detroit, Minneapolis, Salt Lake City, Bozeman , Montana, Greece, Italy, Spokane , Washington, St, Orlando, Washington

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