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CNN —Signs are growing that Ukrainian forces have penetrated the first line of Russian defenses along part of the southern front lines in Zaporizhzhia region, and are expanding a wedge in the direction of the strategic town of Tokmak. “Otryady Kadyrovtsy” [Kadyrov Detachments] painted a similar picture, saying: “Heavy fighting continues in the Robotyne area. On Thursday, the spokeswoman for Ukraine’s southern command, Nataliya Humenyuk, said Russian forces were bringing more forces to the Zaporizhzhia area from Kherson to the south, due to the heavy casualties among units already there. Yurii Malashko, head of Zaporizhzhia region military administration, said there were almost no buildings left standing in Robotyne after weeks of fighting in the area. “The Ukrainian forces’ ability to advance to the outskirts of Robotyne – which Russian forces have dedicated significant effort, time, and resources to defend – remains significant even if Ukrainian gains are limited at this time,” the ISW said.

Persons: Valerii, ” Ukraine’s, “, ”, Ratynskyi, “ We’re, Nataliya Humenyuk, Yurii Malashko, ” ISW Organizations: CNN, Ukrainian, Staff, General Staff, Reuters Ukrainian, Russian, Combined Arms Army, ”, Reuters, Kadyrov, Washington DC, Ukraine Locations: Zaporizhzhia, Tokmak, Novoprokopivka, Ocheretuvate, Robotyne ., Robotyne, Russia, Verbove, Ukrainian, Ukraine, Mala Tokmachka, Russian, Kherson, Azov, Crimea, Donetsk

☆ Prigozhin was scrambling to salvage his business empire from Kremlin control in the days before his death, report says
▼ + stars: | 2023-08-25 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Yevgeny Prigozhin flew across African trying to salvage contracts there, the WSJ reported. Per the WSJ's investigation, Prigozhin was racing to stop the Kremlin dismantling his empire. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. AdvertisementAdvertisementPer the WSJ's account, the plane crash cut short an effort by Prigozhin to maintain his sprawling network of mercenary deals. Per The Journal, other sources of income for Prigozhin include gold from Sudan, and diamond and timber from the Central African Republic.

Persons: Yevgeny Prigozhin, Prigozhin, Wagner Organizations: Service, Wall Street, Wagner Group, Kremlin, Central African Republic, Russian, Wagner, Dossier, Central African Locations: Russia, Wall, Silicon, Africa, Kremlin, Russian, St . Petersburg, Sudan, Mali, East, Central African Republic

The American workers who have had their careers upended by automation in recent decades have largely been less educated, especially men working in manufacturing. But the new kind of automation — artificial intelligence systems called large language models, like ChatGPT and Google’s Bard — is changing that. The jobs most exposed to automation now are office jobs, those that require more cognitive skills, creativity and high levels of education. The workers affected are likelier to be highly paid, and slightly likelier to be women, a variety of research has found. In a majority of jobs, the models could do some of the tasks, found the analyses, including from Pew Research Center and Goldman Sachs.

Persons: Bard —, “ It’s, ”, Erik Brynjolfsson, Goldman Sachs Organizations: Stanford Institute for, Labor, Pew Research Center

☆ The candidates tried their best but there's no show without Trump
▼ + stars: | 2023-08-24 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Donald Trump was unmentioned for large stretches of Wednesday's GOP presidential debate. She added "Donald Trump added $8 trillion to our debt, and our kids are never going to forgive us for this." Trump declared on Sunday night that he would not show up for the first major evening in the GOP nomination contest. AdvertisementAdvertisement"I just felt it would be more appropriate not to the debate," Trump told Carlson during a 46-minute interview posted on Twitter. Trump has repeatedly attacked former Washington Post publisher Fred Ryan, chairman of the Reagan Presidential Foundation and Institute.

Persons: Donald Trump, Nikki Haley, Biden, Haley, Trump, Bret Baier, Chris Christie, Christie, Vivek Ramaswamy, Ramaswamy, Tucker Carlson, Carlson, Fred Ryan Organizations: GOP, Service, Republican, Former UN, Trump, Republicans, New, New Jersey Gov, Fox News, Twitter, Reagan Presidential, Washington Post, Reagan Presidential Foundation and Institute Locations: Wall, Silicon, America, Iowa, New Jersey, Simi Valley , California

☆ A deadly plane crash appears to have killed Wagner's top boss, but even without Prigozhin, the group likely isn't a 'chicken with its head cut off,' expert says
▼ + stars: | 2023-08-24 | by ( Chris Panella | Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

Wagner Group mercenary leader Yevgeny Prigozhin is believed to have died in a plane crash on August 23. Without Prigozhin, Wagner's key operations, finances, and future are unclear, experts told Insider. It's likely not "a chicken with its head cut off," Miles said because Wagner's local operations "are still in play." His mercenaries were given the choice to join the ranks of the Russian military, leave for civilian life, or join Prigozhin in Belarus. A mural depicting mercenaries of Russia's Wagner Group that reads: "Wagner Group - Russian knights."

Persons: Wagner, Yevgeny Prigozhin, it's, Simon Miles, Miles, Prigozhin, Dmitry Utkin, Sergei Shoigu, Defense Valery Gerasimov, Alexander Lukashenko, Catrina Doxsee, Doxsee, There's, Kateryna Stepanenko, Prigozhin —, —, Russia's, Darko Vojinovic, Prigozhin's, ISW Organizations: Wagner Group, Service, Russian, Duke University's Sanford School of Public Policy, Soviet Union, TASS, Staff, Russian Armed Forces, Defense, Kremlin, Prigozhin, Press, REUTERS, PMC, Transnational, Center for Strategic, Ministry of Defense, Russian Ministry of Defense Locations: Russia, Wall, Silicon, Soviet, Russian, Tver, Moscow, Ukraine, Bakhmut, Rostov, Belarus, Belarusian, Africa, Concord, Latin America, Crimea, Syria, Libya, Mali

☆ Wagner fighters are furious and vowing vengeance after their leader Prigozhin's presumed death in a plane crash
▼ + stars: | 2023-08-24 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

It came after the apparent death of their leader Yevgeny Prigozhin in a plane crash. One said: "There's a lot of talk right now about what the Wagner Group will do in this situation. An unnamed former senior Kremlin official told The Financial Times that the plane was shot down by Russian air defense batteries. AdvertisementAdvertisement"Obviously this was an order," another unnamed source close to the Russian defense ministry told the outlet. Before Wednesday's plane crash, Prigozhin was last seen in a clip in an unspecified African country, where he said the Wagner group was conducting reconnaissance and search operations.

Persons: Wagner, Yevgeny Prigozhin, Vladimir Putin, of, Yevgeny Viktorovich Prigozhin, Mozhem Obysanit, Sergei Shoigu, Prigozhin, they've, Alex Kokcharov, Dr Matthew Ford, Kokcharov Organizations: Service, Grey, Wagner Group, Defense, Kremlin, Financial Times, P Global Market Intelligence, West, Swedish Defence University Locations: Wall, Silicon, Russia, of Russia, St, Petersburg, Washington ,, Ukraine, Belarus, Africa

☆ Trump confirms he will skip the first GOP debate — and maybe future ones, as well
▼ + stars: | 2023-08-21 | by ( Katherine Doyle | ) www.cnbc.com time to read: +1 min

Donald Trump confirmed Sunday that he will skip the first Republican presidential primary debate Wednesday — and indicated he may not attend future ones, either. "The public knows who I am & what a successful Presidency I had," Trump wrote. Co-moderators Martha MacCallum and Bret Baier of Fox News will host the first Republican presidential primary debate Wednesday in Wisconsin. Fox Business will host the second debate at the Ronald Reagan Presidential Foundation and Institute in Simi Valley, California, in late September. Nine candidates — including Trump — have qualified for Wednesday's debate stage, according to an NBC News analysis of the Republican National Committee's requirements to get onto the stage.

Persons: Donald Trump, —, Trump, Martha MacCallum, Bret Baier, Ronald Reagan, Tucker Carlson Organizations: Fair, Republican, Social, Fox News, Fox Business, Ronald Reagan Presidential Foundation and Institute, NBC News, Trump —, NBC, Republican National Locations: Iowa, Des Moines , Iowa, Wisconsin, Simi Valley , California

The study found more than 110 pro-Wagner accounts operating in more than a dozen languages across Meta’s platforms. Even if the accounts are not directly affiliated with the Wagner group, ISD said, the content they created still likely violates Meta’s terms. The ISD report, meanwhile, highlights how there may be additional violating content that Meta has not detected and removed. Of these pages, ISD wrote, “the most viewed post, a video with over 712,000 views, shows Wagner mercenary forces testing tank traps set up at a defensive line in Ukraine. These pages were also found to be luring Facebook users to Telegram with links to graphic content showing dead bodies.”

Persons: Russia’s Wagner, Meta, Wagner, Biden, ISD, Yevgeny Prigozhin —, —, “, Prigozhin, dehumanizing, ” Wagner, ” Organizations: CNN, Facebook, Strategic, ISD, Internet Research Agency, Washington, Meta, Meta’s Locations: London, Ukraine

☆ Southeast Asia turns to alternative meats as fight against climate change ramps up
▼ + stars: | 2023-08-16 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +2 min

Packages of "Impossible Burger" and Beyond Meat sit on a shelf for sale on November 15, 2019 in New York City. Vegetarian alternatives to burgers and sausages are enjoying a certain enthusiasm that meat giants also want to enjoy. Reducing meat and dairy consumption could be the key to Southeast Asia's climate crisis, experts say. By 2060, alternative proteins around Southeast Asia and other Asia-Pacific nations will need to account for more than half of protein production, the report added. That adds to the overall environmental footprint of animal production.

Organizations: Asia Research, Lancet, Food Institute Asia Pacific, CNBC Locations: New York City, Singapore, Southeast Asia, Asia, Pacific, Malaysia, Vietnam, Brazil, Argentina, Paraguay

☆ Oceans absorb 90% of the heat from climate change — here's why record ocean temps are so harmful
▼ + stars: | 2023-08-16 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +22 min

"Over 90 percent of the excess energy on earth due to climate change is found in warmer oceans, some of it in surface oceans and some at depth." Put simply, the greenhouse gases serve to trap more heat, some of which is absorbed by the ocean," Kirtman told CNBC. In addition to the daily record on July 31, the monthly sea surface temperature for July was the hottest July on record, "by far," Copernicus said. CopernicusThese record sea surface temperatures arise from multiple factors, including the El Niño weather pattern, which is currently in effect. "These climate variations occur when sea surface temperature patterns of warming and cooling self-reinforce by changing patterns of winds and precipitation that deepen the sea surface temperature changes."

Persons: Baylor, Carlos E, Del Castillo, Castillo, Benjamin Kirtman, Kirtman, Copernicus, Gavin Schmidt, Kemper, Zeke Hausfather, Sarah Kapnick, Kapnick, Kempler, Hurricane Ian, Michael Lowry, Lowry, Rainer Froese, Daniel Pauly, Pauly, Vigfus, pollack, Sean Gallup, Lorenz Hauser, Hauser, Froese, Phanor Montoya, Javier, Carolyn Cole, Hans W, Paerl, Justin Sullivan, Christopher Gobler, Gobler, Gary Griggs, Kimberly McKenna, Angela Weiss, Griggs, it's, Judith Kildow, Kildow, It's Organizations: International, Baylor Fox, Kemper, Brown University, CNBC, Ecology Laboratory, NASA, University of Miami, NASA Goddard Institute for Space Studies, Fox, El, Oceanic Atmospheric Administration, heatwave, NOAA, Northern Hemisphere, Miami Herald, Tribune, Service, Getty, Helmholtz, Ocean Research, University of British Columbia's Institute, Fisheries, School of, Fishery Sciences, Restoration Foundation, Coral Restoration Foundation, Looe Key, Los Angeles Times, University of North, Chapel Hill's Institute of Marine Sciences, Berkeley Marina, San, Quality, Centers for Disease Control, Stony Brooke University's School of Marine, Atmospheric Sciences, University of California, Stockton University Coastal Research, Afp, Ocean Economics Locations: Florida, El, Pacific, Berkeley, Fort Myers, Hurricane, Germany, New York, Nova Scotia, Hofn, Hornafjordur, Iceland, Seattle, Alaska, Looe, University of North Carolina, San Francisco Bay, Berkeley , California, San Francisco, Europe, Santa Cruz, Atlantic City , New Jersey, Atlantic City, Antarctica, Greenland

☆ Companies are increasingly making counteroffers to staff who have been offered new jobs — often because they can't be bothered to find replacements — UK survey finds
▼ + stars: | 2023-08-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Around 40% of UK employers have given counteroffers to staff looking to job hop in the past year, a survey found. Employers are hoping to retain staff for their knowledge, and skills, and to avoid replacing them. Almost half of employers say counteroffers are effective in retaining employees for at least 12 months. Some 40% say they do this by exceeding pay offers given by other employers, while 38% said they match the offers of other employers. Half of employers are planning to use counteroffers in the next year to retain staff for their company knowledge and technical skills, the CIPD's survey found.

Persons: they've, Gallagher, Yoko Spirig, counteroffers, Insider's Aki Ito, Michelle Reisdorf, Robert Half, Ito Organizations: Employers, Service, Privacy, Workers, Chartered Institute, Personnel, Google, Ford, Spotify, JPMorgan Locations: Wall, Silicon

☆ Earth just had its hottest July 'by a long shot,' NASA and NOAA say
▼ + stars: | 2023-08-14 | by ( Denise Chow | ) www.cnbc.com time to read: +4 min

NASA and NOAA together found that last month's average global surface temperature was 2.02 degrees Fahrenheit above the 20th-century average. Last month was also the fourth consecutive month that global ocean surface temperatures hit a record high, the scientists said. This trend in ocean warming carries far-reaching consequences, he said. Changes in ocean temperatures can also have enormous impacts on marine species and their broader ecosystems, he said. This phenomenon is characterized by warm ocean surface temperatures in parts of the Pacific Ocean and tends to boost global temperatures and influence weather conditions around the world.

Persons: Sarah Kapnick, Carlos Del Castillo, Del Castillo, El, Gavin Schmidt, El Niño, Kapnick Organizations: NASA, National Oceanic, Atmospheric Administration, NOAA, Ecology Laboratory, NASA Goddard Space Flight, Northern, NASA Goddard Institute for Space Studies, 533rd, El Locations: Greenbelt , Maryland, New York, El

☆ UK employers plan 5% pay rises, many resort to counteroffers: CIPD
▼ + stars: | 2023-08-13 | by ( David Milliken | ) www.reuters.com time to read: +2 min

Pay expectations in the public sector rose to 4%, the highest recorded by the CIPD, from 3.3%. Growth in earnings excluding bonuses - which typically runs slightly higher than pay settlements - was an annual 7.3% in the three months to May. The CIPD said businesses were also becoming more likely to match or exceed pay offers by rivals for their staff. However, almost a third of employers believed counteroffers were ineffective at keeping staff. "For some employers, counteroffers may only be valuable as a short-term option and ... employees will move if wider aspects of the job, such as workload, autonomy and environment, don't meet their expectations," the CIPD said.

Persons: Rishi Sunak, BoE, David Milliken, William Schomberg Organizations: Chartered Institute, Personnel, Private, of England, Data, Thomson

☆ Inside Prague's Institute of Crypto Anarchy — where they're plotting to bring down the dollar
▼ + stars: | 2023-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

Today, that union of minds finds refuge in Prague in a retrofitted factory building called Paralelní Polis, or "parallel world." The dark stucco of Polis' Prague headquarters is an outlier among the ornate, brightly-colored buildings that tower over it. ETHPrague 2023 was held at Paralelní Polis in the Czech Republic Pavel SinaglThe 'parallel world' concept is sticky. The Vienna branch goes so far as to self-describe as a living example of how "the Paralelní Polis cryptoliberation virus is spreading." The most popular Czech bitcoin YouTuber boasts 90k subscribers, while the annual Czech-only bitcoin conference called Chaincamp attracts around 2000 visitors, even during the bear market."

Persons: Czech Republic Pavel Sinagl, Ztohoven —, Ztohoven, provocateurs, Václav Benda, Dan Ligocký, Ligocký, William Lobkowicz, ethereum, Vitalik Buterin, Ethereum, Pavel Sinagl, Prague MacKenzie Sigalos, Holy, William, Ileana Lobkowicz, Josef Tětek, Tětek, isn't, biohacking, —, Carl Menger, Friedrich Hayek, BTCPrague, Michael Saylor, Satoshi cryptographer, Adam Back, Saifedean Ammous, bitcoin, Gary Gensler, bitcoin maximalist, Vaclav, — Matěj Žák, Jan Čapek, Christoph Kassas, YouTuber Jakub Vejmola, Jameson Lopp, Stephan Livera, Robert Breedlove, Stani Kulechov, Ondrej Polak, Czech Republic Pavel Sinagl Ligocky Organizations: Paralelní, CNBC, European Union, Polis, of Cryptoanarchy, Austrian, Securities, Exchange, Czech Craft, U.S, Treasury, Casa, Ethereum Foundation, Czech Blockchain Association, optimist Locations: Paralelní Polis, Czech Republic, Czech Republic Pavel Sinagl PRAGUE, Czech, Bohemian, Prague, It's, Polis, Polis —, Lobkowicz, Nazi, Vienna, Barcelona, Bratislava, Slovakia, Košice, Austrian, ., Alza, Bohemia, Europe, Old Town, Holešovice

☆ Adidas plans to keep 'carefully' moving more Yeezy stock after making $437 million from its first post-Kanye West sale
▼ + stars: | 2023-08-04 | by ( Polly Thompson | Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Adidas said it made $437 million from the first sales of Yeezy shoes since cutting ties with Kanye West. A second batch of Yeezy items dropped Wednesday as Adidas keeps trying to shift leftover stock. The company kicked off another round of Yeezy sales Wednesday, including the popular sneakers Yeezy Boost 250 V2, 500, 700 and the Yeezy Slide and Foam Rnr lines. Demand for the remaining Yeezy stock has helped to bring the company's expected annual loss down from $764 million forecast in March to $491 million. In line with Gulden's promise that the company will "continue to carefully sell off more of the existing Yeezy inventory", a second batch of Yeezy sneakers went on sale this week.

Persons: Bjørn Gulden, Robert Kraft's, Ye, Gulden Organizations: Adidas, Kanye, Service, Associated Press, Fox News, Defamation League, Keeta Floyd Institute for Social, Robert Kraft's Foundation, Combat Locations: Wall, Silicon, German

The BPLA's growth owes much to Maung Saungkha's skills in building bridges with other armed groups, according to a key ally and two analysts. It says armed groups that oppose it are "terrorists" who sow chaos and kill civilians. It has charged Maung Saungkha with sedition as it has done with most opponents of its rule. Some armed ethnic groups have long relied on drug trafficking for funds, according to the United Nations Office on Drugs and Crime. Some soldiers have run away, homesick, bored and tired after two years of war, said Maung Saungkha, who declined to disclose how many members are in his group.

Persons: Maung Saungkha, Bamar, Maung, Aunt Min, Richard Horsey, Nicola Williams, General Nyo Tun Aung, Tun Aung, We've, Shoon Naing, Poppy McPherson, Edwina Gibbs Organizations: Liberation Army, REUTERS, Poet, People's Defense Forces, National Unity Government, Strategy, AK, Karen National Union, Arakan Army, Myanmar Resistance, Myanmar Research, United Nations Office, Drugs, Reuters, UN, Thomson Locations: Myanmar, country's, Thailand, Myanmar's, Bamar, China, Russia

☆ Hindu-Muslim riots expose risk at major Indian business hub
▼ + stars: | 2023-08-03 | by ( Rupam Jain | ) www.reuters.com time to read: +4 min

Seven people were killed and over 70 injured in rioting in Nuh and Gurugram districts of Haryana state after a Hindu religious procession was targeted and a mosque attacked in retaliation. Gurugram, formerly known as Gurgaon, is a city of over 1.5 million people that shares a border with New Delhi. "Muslim men attacked the Hindu procession and killed many of our people," said Praveen Babbar, a leader of Hindu Yuva Vahini (Hindu Youth Force). Haryana Police, however, said they acted swiftly and prevented riots from spreading, and that two of its men were killed in the violence. Reporting by Rupam Jain, Additional reporting by Sakshi Dayal; Editing by YP Rajesh and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Adnan Abidi, Anil Vij, Vij, Ernst &, Gurugram, Narendra Modi's, Praveen Babbar, Aftab Ahmed, Tara Kartha, Rupam Jain, Sakshi Dayal, YP Rajesh, Raju Gopalakrishnan Organizations: REUTERS, Bharatiya Janata Party, BJP, nab, Reuters, Fortune, American Express, Dell, Samsung, Ernst, Ernst & Young, Deloitte, Hindu, Force, Haryana Police, Analysts, of Peace, YP, Thomson Locations: Nuh district, Haryana, India, Delhi, Nuh, Gurugram, Gurgaon, New Delhi, Suzuki's, India's, Nuh's

☆ Adidas’s Sale of Yeezy Sneakers Brings in 400 Million Euros
▼ + stars: | 2023-08-03 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +3 min

The Yeezy sales added €150 million to Adidas’s operating profit for the first half the year, “an incremental amount,” the sportswear maker said. And Adidas reported a steeply lower operating profit for the half-year: €236 million, versus €828 million a year earlier. Adidas began selling its first batch of its remaining Yeezy shoe models in June. But Mr. Gulden refused to elaborate on how much the rapper was making from the sales. Adidas said it has set aside €110 million of its proceeds from the first sale of the Yeezy inventory to donate to organizations.

Persons: Ye, ” Bjorn Gulden, Gulden, “, ” Mr, Philonise Floyd, George Floyd, Robert K Organizations: Adidas, Defamation League, European Jewish Association, Keeta Floyd Institute for Social, Kraft, New England Patriots Locations: North America

☆ Canada's Trudeau sets sights on fourth election fight with Cabinet refresh
▼ + stars: | 2023-07-30 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

With a string of recent polls showing the left-leaning Liberals trailing their right-of-center Conservative rivals after almost eight years in power, Trudeau changed or shifted three-quarters of his cabinet. But with the influential Finance Minister Chrystia Freeland, who is also deputy prime minister, keeping her job, some analysts are questioning the real impact of the changes. But the deal is not binding and Trudeau needs his campaign team ready to go at any time. No Canadian prime minister since Wilfrid Laurier in 1908 has won four consecutive elections. "Any advantage the Conservatives have on this may well evaporate if we see inflation and interest rates 'normalize' by the next election."

Persons: Justin Trudeau, Liberal leader's, Trudeau, Pierre Poilievre, Justin, flation, Frank Graves, it's, Chrystia Freeland, Robert Asselin, Wilfrid Laurier, Shachi Kurl, Angus Reid, Steve Scherer, David Ljunggren, Marguerita Choy Organizations: OTTAWA, Canadian, Liberal, Liberals, Conservative, Abacus, Conservatives, EKOS Research, Business Council of Canada, New Democrats, Angus Reid Institute, Thomson

The official opposition Conservatives, who blame Trudeau for housing shortage and spiking inflation, have consistently been ahead in the polls for over year. "Bringing in fresh energy with new members and new challenges was important for our economic team in particular," Trudeau told reporters after the shuffle. [1/5]Canada's Prime Minister Justin Trudeau poses for a family photo with cabinet ministers, following a cabinet shuffle, at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023. REUTERS/Blair GableConservative leader Pierre Poilievre pounced on the shuffle, calling it evidence of the prime minister's failures. "Justin Trudeau may have fired many of his cabinet ministers today, but he's just as out of touch as ever, doubling down on his inflationary, high-spending and high-taxing ways," he said in a statement.

Persons: Justin Trudeau, Trudeau, Chrystia Freeland, Francois, Philippe Champagne, Melanie Joly, Sean Fraser, Frank Graves, Blair Gable, Pierre Poilievre pounced, Jagmeet Singh, Kurl, Angus Reid, David Ljunggren, Steve Scherer, Ismail Shakil, Paul Simao, Mark Heinrich, Deepa Babington, Mark Porter Organizations: OTTAWA, Canadian, Liberal, Finance, Innovation, Infrastructure, Conservatives, Abacus, Canada's, Rideau Hall, REUTERS, Blair Gable Conservative, New Democrats, New, Angus, Angus Reid Institute, Liberals, Thomson Locations: Ottawa , Ontario, Canada

☆ Singapore's sovereign wealth fund posts robust returns but says inflation remains 'sticky'
▼ + stars: | 2023-07-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Signage of Singapore's sovereign wealth fund GIC is pictured at their office in Singapore July 13, 2023. Singapore's sovereign wealth fund GIC posted robust returns, its highest in eight years — but warned that "sticky" inflation has made it "more critical and challenging" in generating real returns. It was the highest since 2015, according to its annual report released on Wednesday. While headline inflation is beginning to ease, "underlying inflation remains sticky," said the fund in its report. GIC, with an estimated with $690 billion in total assets, is the world's seventh-biggest sovereign investor, according to Sovereign Wealth Fund Institute, a research firm.

Persons: That's, GIC Organizations: Sovereign Wealth Fund Institute Locations: Singapore

[1/5] Canada's Prime Minister Justin Trudeau poses for a family photo with cabinet ministers, following a cabinet shuffle, at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023. Dominic LeBlanc becomes public safety minister, taking over for Marco Mendicino, and Arif Virani moves from the back benches to become justice minister. "The shuffle does send a clear message that the government is aware that their current standing with the electorate is not healthy." An Abacus Data poll out on Wednesday shows his party opening up a big lead on the Liberals with 38% to 28% in public support. Poilievre pounced on the shuffle, calling it evidence of the prime minister's failures.

Persons: Justin Trudeau, Blair Gable OTTAWA, Trudeau, Chrystia Freeland, Francois, Philippe Champagne, Melanie Joly, Sean Fraser, Dominic LeBlanc, Marco Mendicino, Arif Virani, Bill Blair, Anita Anand, Frank Graves, Pierre Poilievre, Poilievre pounced, Shachi Kurl, Angus Reid, David Ljunggren, Steve Scherer, Paul Simao, Mark Heinrich, Deepa Babington Organizations: Canada's, Rideau Hall, REUTERS, Canadian, Finance, Innovation, Infrastructure, Defense, Conservative, Abacus, Twitter, New Democrats, Angus, Angus Reid Institute, Conservatives, Liberals, Thomson Locations: Ottawa , Ontario, Canada

Its group chief investment officer Jeffrey Jaensubhakij told Reuters GIC was keen to invest in Chinese companies that do business within China and do not export to the United States. "There are some 'China for China' type of investments that still make sense," he said. GIC said exposure to China was important for a diversified portfolio. GIC is the world's seventh-biggest sovereign investor with $690 billion in total assets, according to research firm Sovereign Wealth Fund Institute. The share of emerging market equities in GIC's portfolio rose to 17% by end of March from 16% a year earlier.

Persons: Jeffrey Jaensubhakij, Reuters GIC, GIC's, GIC, Lim Chow Kiat, Beijing scrambles, Ang Eng Seng, Jaensubhakij, GIC's Lim, Yantoultra Ngui, Xinghui, Xie Yu, Julie Zhu, Kane Wu, Christina Fincher Organizations: SINGAPORE, Reuters, HK, Ant Group, Temasek, Infrastructure, Sovereign Wealth Fund, Thomson Locations: China, Singapore, United States, Beijing, U.S, Asia, Japan, Xinghui Kok

☆ Adidas up 6% after trimming 2023 loss forecast on strong Yeezy inventory sales
▼ + stars: | 2023-07-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

A fashion week guest seen wearing red Adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London. German sportswear giant Adidas on Monday said it expects a significantly smaller operating loss for the year after recording better-than-expected early sales of its Yeezy stock, which it is offloading after cutting ties with collection creator Ye. The company also reported a slight outperformance in the underlying Adidas business and said it still expects underlying operating profit, excluding one-offs related to Yeezy and a wider ongoing strategic review, to roughly break even for the year. "If successful, potential future Yeezy drops would further improve the company's results," Adidas said in a statement, refering to further releases of existing inventory. That left the question of what the company would do with its existing Yeezy stock.

Persons: paul, Ye, David Swartz Organizations: Adidas, London, Defamation League, Keeta Floyd Institute for Social Locations: London, €

☆ Kylian Mbappé: Saudi Arabian club submits world record bid superstar
▼ + stars: | 2023-07-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Saudi Arabian soccer club Al Hilal has submitted a world-record bid of over $332 million (300 million euros) for Paris Saint Germain (PSG) striker Kylian Mbappé, according to multiple reports on Monday. CNN has reached out to PSG, Al Hilal and Mbappé’s representatives for comment. The current world record fee is $262 million (€222 million) when Neymar moved from Barcelona to PSG in 2017. Al Hilal reached both the FIFA Club World Cup and the AFC Champions League finals last season. Last month, the Saudi Public Investment Fund (PIF) announced that Al Hilal was one of four Saudi clubs that have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.

Persons: Al Hilal, Kylian Mbappé, Neymar, Mbappé, Nasser Al, Khelaifi, Luis Enrique, “, ” Al, doesn’t Organizations: CNN, Al, Paris Saint Germain, PSG, Saudi, FIFA Club, AFC Champions League, Saudi Public Investment Fund, Sovereign Wealth Fund, French Locations: Saudi Arabian, Japan, Al Hilal, Barcelona, Paris, French, Saudi Arabia, Spanish, Real Madrid

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