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ByteDance will now allow restricted shares held by U.S. employees to vest as long as sufficient time has passed, the sources said. Once vested, the shares can be exchanged by the employees for cash in one of ByteDance's stock buyback programs. A ByteDance spokesperson confirmed that the company has changed its share vesting rules but declined to comment on the details. The move applies to ByteDance's U.S. employees, which include about 7,000 TikTok employees. While it has so far been spared a contemplated federal ban, TikTok faces a block in Montana, which it is challenging.
Persons: Echo Wang, Krystal Hu, Greg Roumeliotis, Anna Driver Organizations: YORK, U.S, Employees, Thomson Locations: Montana, New York
CNN —Coco Gauff suffered a shock defeat in the first round of Wimbledon on Monday, whilst there were mixed results for her US compatriots elsewhere at the third grand slam of the year. Gauff, 19, did battle back to take a hard-earned second set but was blown away by world No. I feel like I have been working hard, but clearly it’s not enough.”Kenin will face 21-year-old Xinyu Wang in the second round. Gauff and Kenin were two of 19 US players in the women’s draw at Wimbledon. 4 seed, failed to convert three match points in the second set tie-break as both players dealt with windy conditions.
Persons: Coco Gauff, Gauff, Sofia Kenin, Kenin, , ” Gauff, , Wang, Jessica Pegula, Lauren Davis, Rob Newell, CameraSport, Pegula, Spain’s Cristina Bucșa, Venus Williams, Ukraine’s Elina Svitolina, Williams, Elina Svitolina, Daniel Leal, “ You’re, I’ve, “ I’ve, It’s Organizations: CNN, Wimbledon, Getty
NEW YORK/LONDON, June 30 (Reuters) - A lackluster IPO market is showing signs of life as a flurry of deals in the United States and Europe raise hopes that a recovery may be in sight. With investors now predicting an end to the Federal Reserve's rate hikes later this year, optimism has resumed. This allowed thrift shop chain Savers Value Village (SVV.N) to raise $401 million in its New York IPO this week, more than it originally set out to. Investors continued to snap up its shares, with the stock closing up 27% on its first day of trading. EUROPE IPOS ON THE WAYIn Europe, three IPOs are on track to be completed by early July, but two of them have already had to moderate their valuation expectations.
Persons: Aloke Gupte, Tom Swerling, Paul Abrahimzadeh, Hidroelectrica, Fondul, WE Soda, Ferretti, Coty, Andrew Briscoe, David DiPietro, Rowe Price, Echo Wang, Pablo Mayo, Elisa Martinuzzi, Mark Potter Organizations: Investors, JPMorgan Chase &, CAB, Kodiak Gas Services, Fidelis Insurance Holdings, Barclays, North America, Citigroup, U.S, Heineken, General, GE Healthcare Technologies, Bank of, Pablo Mayo Cerquiero, Thomson Locations: United States, Europe, Ukraine, New York, London, Africa, Asia, Kodiak, Fidelis, Cava, EUROPE, Romanian, Hong Kong, Milan, East
[1/3] Mark Walsh, CEO of Savers Value Village, celebrates his company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - Thrift store operator Savers Value Village (SVV.N) fetched a market capitalization of nearly $4 billion in a strong debut on the New York Stock Exchange on Thursday, underscoring a resurgence in the IPO market as investors lap up new listings. Savers Value, owned by private equity firm Ares Management (ARES.N), joins a host of companies that have enjoyed a warm reception in recent months, reviving hopes the frosty IPO market has begun to thaw. So really this (an IPO) was the right smart option for us to move forward," said Savers Value CEO Mark Walsh. Savers Value and Ares raised over $401 million in the share sale on Wednesday.
Persons: Mark Walsh, Brendan McDermid, Avery Spear, Johnson, Ares, Niket Nishant, Sri Hari, Echo Wang, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Ares Management, U.S, U.S . Federal, Renaissance, Rivian, Kodiak Gas Services, Fidelis Insurance Holdings, Canada's Healthcare, Ontario, Norway's Norges Bank Investment Management, Thomson Locations: New York City, U.S, U.S ., Sri, Bengaluru, Echo, New York
June 15 (Reuters) - Mediterranean restaurant chain Cava Group (CAVA.N) notched a valuation of $4.7 billion in a stellar market debut on Thursday, signaling the IPO market was gaining momentum after a lull in 2022. Shares opened at $42 apiece on the NYSE, nearly double the IPO price of $22, last up 89%. Cava sold about 14.4 million shares in the offering, raising $318 million. “We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava Co-founder and CEO Brett Schulman said. Cava was founded by three friends with Greek roots — Ted Xenohristos, Ike Grigoropoulos and Dimitri Moshovitis — and opened its first restaurant Cava Mezze in Rockville in 2006.
Persons: Cava, Matthew Kennedy, Johnson, Brett Schulman, Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis —, Morgan, Jefferies, Manya Saini, Savyata Mishra, Echo Wang, Vinay Dwivedi Organizations: NYSE, Renaissance Capital, Reuters, Rivian, , Restaurant Brands, Cava, Citigroup, Thomson Locations: Cava, CAVA, United States, ” Cava, Rockville, Bengaluru, Echo, New York
[1/2] Chinese and Malaysian tourists take photographs of the Sydney Opera House from a viewing area located on Sydney Harbour, Australia, October 4, 2016. Similar investment visa schemes have been scrapped in Canada, Britain and Singapore as governments conclude they do not create jobs and could be a means to park speculative money. It said a new migration strategy would be released later this year, which would include "radically reshaping" the BIIP programme. "I just don't think the investor programme is on their radar at the moment - they might overhaul it down the track. BIIP holders say they are curtailing business investment given the uncertainty, postponing life decisions and in some cases selling properties in Australia.
Persons: David Gray SYDNEY, Paul Wang, Wang, Tony Le Nevez, Tan, Stella Qiu, Praveen Menon, William Mallard Organizations: Sydney Opera House, REUTERS, Innovation, Investment, Labor, Department of Home Affairs, Henley & Partners Australia, Thomson Locations: Malaysian, Sydney Harbour, Australia, Beijing, Canada, Britain, Singapore, Sydney, Melbourne, United States
While many of the passengers Berry Henson has taxied during some 3,000 rides knew he played golf, few were aware of just how good he is. For Henson, who has played just three events on the PGA Tour since turning pro in 2003, the US Open will mark a dream first career major appearance. New emotions, new feelings, but I feel like I’m getting through it pretty good.”Henson will make his major debut at the US Open. “A lot of my Uber passengers, when they find out what I do, end up following me on social media – they can’t believe it at first. “I think she’s gonna pass on a lot of birdies this week,” Henson said.
Persons: Berry Henson, Henson, ” Henson, CNN’s Dan Moriarty, , I’ve, Kai Schwoerer, Uber, Ke Huy Quan, Richard “, ” Wang, Nick Kyrgios, “ I’ve, , “ It’s, Paul Lakatos, Phil Mickelson, , it’s Organizations: CNN, Los Angeles Country Club, Brook Country Club, PGA, ” Pepsi, European, Qualifying, University of San Diego, Getty, Twitter Locations: Summit , New Jersey, Canada, Oaks, Palm Springs, Thailand, Kuala Lumpur, Malaysia, New Jersey
Chinese dissident Wang Dan said Friday that an allegation against him of attempted rape was unfounded. Photo: nicholas kamm/Agence France-Presse/Getty ImagesIn late April, a fictional Netflix drama about Taiwanese politics went viral on the island with a story line about sexual-assault allegations that convulse the ruling party. A little more than a month later, the plot has crossed over into the real world, with potential ramifications for political forces that the U.S. relies on to keep pressure on China.
Persons: Wang Dan, nicholas kamm Organizations: Agence France, Netflix Locations: China
Such a switch from a white-collar job to "qing ti li huo" (or "light labor" in Chinese) is gaining popularity among younger people in the country. It was only in hindsight that Wang realized she never "personally wanted" to pursue her major, or be in a white-collar job. "I looked back and I realized it was because my parents told me to choose it, people told me that with this major I'd have a really, really great future," Wang said. She earned about 12,000 Chinese yuan ($1,700) a month in her white-collar job. But what may be priceless to her is the self-discovery Wang said she's been able to experience after walking away from her white-collar job.
Persons: Eunice Wang, I'd, Wang, Jia, they're, Jia Miao, Wu Xiaogang, Wu, That's, xiao bai, Miao, Eunice Wang Barista, Wu —, she's Organizations: NYU Shanghai, New York University Shanghai, CNBC, NYU Locations: China, Beijing, United States
The rains are also causing the kernels on his wheat crop to begin sprouting early, which, more crucially, means the grain will produce lower quality flour unsuitable for noodles or bread. "Look, all this wheat has sprouted," Chen told Reuters, pouring kernels into his hand while standing in his fields about 40 km (25 miles) north of the town of Zhumadian. About one-third of China's wheat is grown in Henan province, earning it the nickname the granary of China. A Xiping-based grain dealer surnamed Wang is paying growers 2,100 yuan ($295) per metric ton of germinated wheat, about 75% of the market price for food-grade wheat. "These (sprouted) wheat have a bad taste as they are sticky and doesn't mix well to make dough."
Persons: Chen, it's, Darin Friedrichs, Tang Renjian, Wang, Qin Ningwei, Josh Arslan, Dominique Patton, Christian Schmollinger Organizations: Reuters, Sitonia Consulting, El, China's Agriculture, Thomson Locations: COUNTY, China, China's Henan, Zhumadian, Henan province, Henan, Anhui, Shanxi, Shandong, Shanghai, Australia, Ukraine
PARIS, June 4 (Reuters) - Iga Swiatek underlined her credentials as a firm favourite for the French Open title on Saturday after serving up double bagels yet again with a 6-0 6-0 win, but the world number one refused to be swept up in the "Iga's Bakery" social media craze. But when a question about "Iga's Bakery" was put to Swiatek after her victory, her smile vanished before the top seed said she wanted to remain respectful to her opponents. loading"Look, I don't want to really talk about that. I really get why people do that because it's fun and tennis is entertainment and everything," Swiatek told reporters. Swiatek will next face Lesia Tsurenko, who lost 6-2 6-0 to her in Rome last month.
Persons: Swiatek, Wang, Anastasia Pavlyuchenkova, I'm, Lesia Tsurenko, Tsurenko, Rohith Nair Organizations: Thomson Locations: Rome, Paris, Ukrainian, Bengaluru
BEIJING, June 2 (Reuters) - The Chinese envoy who toured European capitals last month seeking to promote Ukraine peace talks said on Friday that Beijing is considering another mission, after acknowledging that his trip may not produce immediate results. "China is willing to actively consider sending another delegation to relevant countries to engage in dialogue on resolving the Ukraine crisis," said Li, without elaborating on which countries. "As long as it's conducive to easing the situation, China is willing to do anything," he said. Earlier this year, China published a 12-point peace plan, calling for the protection of civilians and the sovereignty of all countries be respected. "I don't think we expect China to be a mediator, but it can use its influence on Russia and can help make it understand."
Persons: Li Hui, Li, Laurie Chen, Liz Lee, Ethan Wang, John Irish, Alexander Ratz, Robert Birsel, David Holmes Organizations: Thomson Locations: BEIJING, Ukraine, Beijing, Russia, Moscow, China, Kyiv, Warsaw, Paris, Berlin, Brussels, United States, Europe
The Mystery of the Disappearing van Gogh
  + stars: | 2023-05-29 | by ( May | ) www.nytimes.com   time to read: +1 min
He also controlled a hidden offshore network of more than 130 companies holding over $5 billion in assets, according to corporate documents obtained by The New York Times. Among them was Sotheby’s invoice for the van Gogh. Today, Mr. Xiao is a man who has fallen far. And the still life, according to several art experts, has been offered for private sale. For a century after van Gogh gathered flowers and placed them in an earthen vase to paint, the artwork’s provenance could be easily traced, and the piece was often exhibited in museums for visitors to admire.
Michael Wayland/CNBCDETROIT — Ford Motor's largest competition in electric vehicles isn't U.S. leader Tesla or crosstown rival General Motors — it's Chinese automakers, CEO Jim Farley said Thursday. Farley said Chinese companies such as Warren Buffett-backed BYD are ahead of the large U.S. automakers and startups on electric vehicles, specifically battery chemistry and other emerging technologies. And they were always committed to electric," Farley said when asked which company is doing EVs right. Farley's comments echo those of industry experts and investors regarding the growth of BYD and other Chinese automakers, which have government backing in China. Farley also noted BYD's battery advantages compared to the current U.S. industry standard of lithium-ion batteries.
Poem: Ladies of the Sarasota Sewer
  + stars: | 2023-05-25 | by ( Jackie Wang | Anne Boyer | ) www.nytimes.com   time to read: +1 min
Ladies of the Sarasota SewerBy Jackie Wangin those dayswe ate garbage for every meali dove in the dumpsters withthe atlanta boysgot chubby on a bucketof expired breakfast barsfine dining was stealingcontinental breakfastat all the nearby hotelsfilching lukewarm dannonyogurts and bananasfrom the mediocre spreadonly once we were caughtthey gave us a billwe had no moneyi said i would go hometo try to get some moneyand when i leftthey let you go without payingthinking i had left you in the lurchall the love i see is gonewe lived on fumesthe adrenalin of ourbreaking bonesAnne Boyer is a poet and an essayist. Her memoir about cancer and care, “The Undying,” won a 2020 Pulitzer Prize for general nonfiction. Jackie Wang is a poet, a scholar, a multimedia artist and an assistant professor of American studies and ethnicity at the University of Southern California, where she researches race, surveillance technology and the political economy of prisons and police. She is the author of “Carceral Capitalism” (Semiotext(e), 2018), the poetry collection “The Sunflower Cast a Spell to Save Us From the Void” (Nightboat Books, 2021), which was a National Book Award finalist, and the forthcoming experimental essay collection “Alien Daughters Walk Into the Sun” (Semiotext(e), 2023).
On Tuesday, the U.S. government accused a former Apple employee, Weibao Wang, of stealing trade secrets from the company's self-driving car division, including the entirety of Apple's "autonomous" source code. Following that, he worked as chief technology officer at Neolix, a Chinese self-driving car company. Wang is the third former Apple employee from China to be accused of stealing trade secrets from Apple's self-driving car division. Xiaolang Zhang, who worked at Apple around the same time as Wang, pleaded guilty to stealing trade secrets from Apple in August. Apple has reportedly been working on a self-driving car since at least 2015, although it has never discussed its goals or plans publicly and no car has been announced.
Klaviyo files confidentially for U.S. IPO -sources
  + stars: | 2023-05-12 | by ( Echo Wang | ) www.reuters.com   time to read: +2 min
NEW YORK, May 12 (Reuters) - Data and marketing automation firm Klaviyo Inc confidentially submitted paperwork on Friday with U.S. regulators for an initial public offering (IPO) in New York, according to people familiar with the matter. While terms of the IPO have not yet been set, the Boston-based company is mulling a raise of at least $750 million in the listing, one of the sources said. The Wall Street Journal had reported in April that Klaviyo was preparing for an IPO. With the IPO registration, Klaviyo becomes the second high-profile name in recent weeks to press ahead with an offering, even as stock market volatility and economic uncertainty has put many other IPO hopefuls off. SoftBank Group Corp's (9984.T) Arm Ltd filed confidentially for its stock market listing in April, Reuters reported.
"We are looking into ways to express this (China recovery) theme in our portfolio rather than just say 'let's go long China equity'. "Given the higher risk premium of China stocks, the demand for 'shadowing' China will continue to be strong," Jefferies said. The relative cheapness of European stocks, at least at the start of this year, has also been important. Luxury stocks - less vulnerable to sanctions - have performed well, but geopolitical worries have bruised tech firms, and manufacturing difficulties have hurt commodity stocks. "What is doing extremely well this year is luxury; if you'd bought European miners hoping that China would stimulate, you'd have got it wrong."
NEW YORK, May 3 (Reuters) - Johnson & Johnson (JNJ.N) on Wednesday priced the initial public offering (IPO) of its consumer-health business at the upper end of its target range to raise $3.66 billion, people familiar with the matter said,Kenvue Inc defied volatile market conditions to price about 166 million shares at $22 per share, the source said, requesting anonymity as these discussions are confidential. The IPO values Kenvue at about $41 billion. Kenvue had earlier said it planned to sell 151 million shares at a range of between $20 and $23 per share. read moreJ&J did not immediately respond to a request for comment. Reporting by Echo Wang in New York; Editing by Anirban SenOur Standards: The Thomson Reuters Trust Principles.
Kenvue defied volatile market conditions to price about 166 million shares at $22 per share, the sources said, adding that the size of the deal was upsized by about 10%. The IPO values Kenvue at about $41 billion. Kenvue had earlier said it planned to sell 151 million shares at a range of between $20 and $23 per share. Kenvue's share sale marks the biggest IPO to result from a corporate carve-out in over two decades. The IPO market has been largely frozen over the past year as stock-market volatility and economic uncertainty have put off many hopefuls.
While SoftBank had said in March it planned to list Arm in the U.S. stock market, the company's IPO registration shows that it is pressing ahead with the blockbuster offering despite adverse market conditions. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, the sources said. SoftBank and Arm declined to comment. There are signs that the IPO market is beginning to thaw. Arm's IPO preparations are being led by Goldman Sachs Group Inc (GS.N), JPMorgan Chase & Co (JPM.N), Barclays (BARC.L) and Mizuho Financial Group (8411.T).
The fifth of young Chinese without jobs among a highly-educated generation is a record. The number of master's and Ph.D graduates in Beijing exceeds undergraduates for the first time, education authorities said. "However, young people who really pin their hopes on the gods and Buddhas when under pressure are also clearly going astray." "I don't believe I will ever find my ideal job," said the urban planning graduate, who spoke on condition of anonymity to protect her job prospects. "Why, instead of helping private enterprises develop, do you blame 11.58 million graduates for not taking off their scholar gowns?"
However, for investors who might have missed that run-up in such stocks, HSBC has identified four Chinese stocks that are still set to benefit from the growing trend. The bank believes that demand for training these artificial intelligence systems will be the critical driver for A.I. The table below shows four stocks, all of which are specialist hardware manufacturers targeting AI systems, HSBC is bullish toward: The bank's positive outlook on A.I. According to the Asia-focused investment bank, there are significant opportunities within hardware supply chains and software providers when investing in new developments within A.I. Other stocks HSBC highlighted include A.I.
Yeoh, 60, won the Oscar for her portrayal of Chinese American laundromat owner Evelyn Wang in the science-fiction kung fu comedy "Everything Everywhere All at Once". We have to create platforms that will showcase their talent," Yeoh told a news conference before a fan event. Dressed in loose jeans and a white blouse, Yeoh posed for pictures smiling with her Oscar statuette in front of a sign that said "pride of Malaysia". [1/7] Malaysian actress Michelle Yeoh shows her engraved Oscar statuette during a news conference after returning to her home country for the first time since winning her first Oscar for Best Lead Actress, at Kuala Lumpur, Malaysia April 18, 2023. "I heard the roar of joy, happiness all across the world to Los Angeles," she told fans, recalling when the winner was revealed.
That would be the fastest growth since the first quarter of last year. For 2023, growth was expected to pick up to 5.4%, the poll showed, from 3.0% last year - one of its worst performances in nearly half a century due to strict COVID-19 curbs. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.
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