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☆ North Korea said the US' latest military actions 'may fall under the conditions' Pyongyang has set for a nuclear first strike
▼ + stars: | 2023-07-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

On Thursday, North Korea's defense minister made a veiled threat about a nuclear first strike. He said the US' latest actions could possibly fall under conditions Pyongyang set for a nuke launch. Kang accused the US and South Korea, whom he called a "military gangsters' group," of crossing a "red line." Kang's threat comes after North Korean dictator Kim Jong Un passed a new "irreversible" law in September officially permitting his government to launch a nuclear first strike. Pyongyang maintained at the time that nuclear weapons would only be used as a last resort.

Persons: Kang Sun, It's, Kang, Yoon Suk Yeol, Kim Jong Un, Kim Organizations: Service, Yonhap News Agency, South, ROK, North Locations: Pyongyang, USS Kentucky, Busan, Wall, Silicon, Washington, Ohio, South Korea, Seoul, North Korean, China, American, North Korea

☆ North Korea threatens nuclear retaliation over U.S. displays of military force
▼ + stars: | 2023-07-20 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

The comments raise the stakes as each side steps up displays of military force in a standoff over the isolated country's nuclear weapons and ballistic missile programmes. "The ever-increasing visibility of the deployment of the strategic nuclear submarine and other strategic assets may fall under the conditions of the use of nuclear weapons specified in the DPRK law," the statement said. The report comes after a U.S. soldier crossed the border into North Korea on Tuesday at a time of heightened tension between the two Koreas and the United States. North Korea has yet to comment on the incident involving the U.S. soldier. "The utmost significance of legislating nuclear weapons policy is to draw an irretrievable line so that there can be no bargaining over our nuclear weapons," North Korea's leader Kim Jong Un was quoted as saying at that time by KCNA.

Persons: Jonathan Ernst, Kang Sun Nam, Kim Jong Un, Hyunsu Yim, Bernadette Baum, Mike Harrison Organizations: North Korean, Capella, REUTERS, DPRK, Democratic People's, U.S, U.S ., KCNA, Thomson Locations: Sentosa, Singapore, SEOUL, North Korea, U.S, South Korea, United States, Democratic People's Republic of Korea, Ohio, Busan

☆ North Korea threatens nuclear retaliation over US displays of military force
▼ + stars: | 2023-07-20 | by ( Hyunsu Yim | ) www.reuters.com time to read: +3 min

[1/2] U.S. and North Korean national flags are seen at the Capella Hotel on Sentosa island in Singapore June 12, 2018. The comments raise the stakes as each side steps up displays of military force in a standoff over the isolated country's nuclear weapons and ballistic missile programmes. The KCNA report came after a U.S. soldier crossed the border into North Korea on Tuesday at a time of heightened tension between the two Koreas and the United States. North Korea has yet to comment on the incident involving the U.S. soldier. Last year, the reclusive state codified a new, expansive nuclear law declaring its status as a nuclear-armed state "irreversible".

Persons: Jonathan Ernst, Kang Sun Nam, Ankit, Panda, Hyunsu Yim, Josh Smith, Bernadette Baum, Mike Harrison, Tom Hogue Organizations: North Korean, Capella, REUTERS, U.S, Nuclear Consultative, DPRK, Democratic People's, South Korea's Ministry of National Defense, USS, Korean, U.S ., Carnegie Endowment, International, South, Thomson Locations: Sentosa, Singapore, SEOUL, North Korea, South Korea, United States, Democratic People's Republic of Korea, Ohio, Busan, USS Kentucky, Korea, U.S, Washington

The forceful antitrust posture is a pillar of President Biden’s agenda to stamp out economic inequality and encourage greater competition. “Promoting competition to lower costs and support small businesses and entrepreneurs is a central part of Bidenomics,” a senior administration official said in a call with reporters. The agency has accused Meta of buying Instagram in 2012 and WhatsApp in 2014 to prevent future competition. These so-called network effects have helped companies like Meta and Google maintain their dominance in social media and internet search. The agencies also laid out ways in which mergers involving “platform” businesses, the model used by Amazon’s online store and Apple’s App Store, could harm competition.

Persons: Biden’s, ”, Mr, Kanter, “ Organizations: “, Meta, Justice, Google Locations: Bidenomics, WhatsApp

☆ F.T.C. Chair Faces Criticism in Congressional Hearing
▼ + stars: | 2023-07-13 | by ( Cecilia Kang | More About Cecilia Kang | ) www.nytimes.com time to read: +1 min

During the highly partisan hearing, Republicans accused Ms. Khan, 34, who has carried out an aggressive agenda of lawsuits and investigations against tech companies, of “harassing” businesses. The lawmakers, who repeatedly cut off Ms. Khan midsentence, also ridiculed her for the F.T.C.’s recent losses in antitrust cases and for wasting government resources. “You are now 0 for 4 in merger trials,” Representative Kevin Kiley, Republican of California, said at the House Judiciary Committee hearing. “Why are you losing so much?”The blistering session capped a bruising week that has brought greater scrutiny to the F.T.C. after another judge decided in May against its attempt to block Meta’s acquisition of a virtual reality app maker, Within.

Persons: Lina Khan, Ms, Khan, Khan midsentence, Kevin Kiley, Khan’s Organizations: Federal Trade Commission, Activision Locations: California

The Federal Trade Commission has opened an investigation into OpenAI, the artificial intelligence start-up that makes ChatGPT, over whether the chatbot has harmed consumers through its collection of data and its publication of false information on individuals. In a 20-page letter sent to the San Francisco company this week, the agency said it was also looking into OpenAI’s security practices. asked the company dozens of questions in its letter, including how the start-up trains its A.I. The investigation was earlier reported by The Washington Post and confirmed by a person familiar with the investigation. legislation to oversee the fast-growing industry, which is under scrutiny because of how the technology can potentially kill jobs and spread disinformation.

Persons: Sam Altman, A.I Organizations: Federal Trade Commission, San, The Washington Post Locations: OpenAI, San Francisco

CNN —A giant panda at a South Korean zoo has given birth to the country’s first twin cubs. The palm-sized female pandas were born at the Everland Resort theme park southeast of the capital Seoul on July 7, the zoo said in a statement Tuesday. The twins’ birth is considered rare – there’s less than a 50% chance of pandas giving birth to twins – and in the wild, they struggle to survive as mothers can often only care for one of their cubs. A caretaker carries panda cub Fu Bao, about 100 days after her birth in 2020. It is estimated that around 1,800 pandas remain in the wild, mostly in the mountains of Sichuan, western China.

Persons: Ai Bao, –, Fu Bao, JUNG YEON, ”, Kang Cheol, Le Bao, Jung Dong Organizations: CNN, YouTube, Getty, South, Everland Locations: Korean, Seoul, Korea, China, Beijing, South Korea, Sichuan

☆ South Korean zoo welcomes giant panda twins
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] Giant Panda Ai Bao holds her baby panda with mouth after giving birth to twin at Everland amusement park in Yongin, South Korea, July 11, 2023. Samsung C&T/Yonhap via REUTERSSEOUL, July 11 (Reuters) - A South Korean zoo said on Tuesday it had recently welcomed the first giant panda twins to be born in the country. The first twin weighed 180 grams (6.35 oz) and the second, which arrived nearly two hours later, weighed 140 grams. The birth of the twins comes nearly three years after Fu Bao, the first panda to be born in South Korea, came into the world with the same parents Ai Bao and Le Bao. Fu Bao is due to be returned to China by July next year at the latest, the zoo said.

Persons: Ai Bao, Donghee Chung, Chung, Fu Bao, Le Bao, Cherwon Kang, Ai Bao's, Kang, Hyunsu Yim, Ed Davies Organizations: Samsung, REUTERS, YouTube, Thomson Locations: Yongin, South Korea, REUTERS SEOUL, Korean, Seoul, China

☆ F.T.C.’s Court Loss Raises Fresh Questions About Its Chair’s Strategy
▼ + stars: | 2023-07-11 | by ( Cecilia Kang | More About Cecilia Kang | ) www.nytimes.com time to read: +1 min

Lina Khan became chair of the Federal Trade Commission two years ago on a promise to bring bold action against the biggest tech companies. For too long, Ms. Khan said at the time, the agency had been a weak cop and needed to challenge behemoths like Microsoft, Amazon, Meta and Google in the courts to stem their growing power. But on Tuesday, Ms. Khan suffered the biggest blow yet to her hallmark agenda. That followed a loss in February, when a judge rejected an F.T.C. Ms. Khan’s critics are more emboldened and are speaking out more loudly to poke holes in her take-it-to-the-courts strategy, saying the losses are not even partial wins — they’re just losses.

Persons: Lina Khan, Khan, wanes, — they’re Organizations: Federal Trade Commission, Microsoft, Google, Activision Locations: America

☆ Netherlands to return nearly 500 looted objects to Indonesia and Sri Lanka
▼ + stars: | 2023-07-07 | by ( Senay Boztas | ) edition.cnn.com time to read: +5 min

CNN —The Dutch government is returning 478 objects looted during colonial times to Indonesia and Sri Lanka. “It’s the first time we’re following recommendations… to give back objects that should never have been brought to the Netherlands. A collection of jewels, precious stones and silver, the "Lombok treasure" was taken from the Indonesian island of Lombok in 1894. “But what changed is our viewpoint: these objects are to tell the stories of our countries, of our shared history of peoples. A ceremonial handover of objects to the National Museum of Indonesia in Jakarta will take place at the Museum Volkenkunde Leiden on July 10.

Persons: Gunay Uslu, Cannon, ” Uslu, “, …, We’re, we’re, Lilian Gonçalves, Ho Kang, William V , Prince of Orange, Smeulders, ”, ” Smeulders, Gert, Jan van den Bergh, Bergh, Sanders, Van den Bergh Organizations: The Art, CNN, State for Culture, Dutch Council for Culture, National Museum of, Netherlands ’, East India Company, Nazi, Naturalis Biodiversity, Guardian, Art Newspaper, Museum Volkenkunde Leiden Locations: Indonesia, Sri Lanka, Nigeria, Dutch, Lombok, Bali, Kandy, Netherlands, Indonesian, Europe, Leiden, National Museum of Indonesia, Jakarta

☆ Samsung flags 96% drop in quarterly profit as chip glut drags on
▼ + stars: | 2023-07-06 | by ( ) edition.cnn.com time to read: +3 min

It would be Samsung’s lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data. Shares in Samsung (SSNLF) fell 1.4% in early morning trade, underperforming a 0.6% drop in the wider market. In the January to March quarter, the company reported a whopping 4.58 trillion won loss in its chip business as memory chip prices fell further and its inventory values were slashed. But in the second quarter, losses in Samsung’s memory chip business likely shrank due to more sales of DRAM chips — used in PCs, mobile phones and servers — analysts said. Revenue in April to June likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement.

Persons: Refinitiv, ”, Kang, Greg Roh Organizations: Samsung Electronics, Samsung, Daishin Securities, Hyundai Motor Securities, ”, Apple Locations: Seoul

☆ South Korea's robust economic activity in May paints brighter quarter
▼ + stars: | 2023-06-30 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

By product, output of automobiles jumped 8.7% and semiconductors rose 4.4% over the month, whereas communication devices slumped 16.9%. The finance ministry said the data showed the economy was on a recovery path after a slight correction the previous month. Factory output will rebound in the second quarter after four consecutive quarters of loss as exports bottom out, the ministry said. South Korea's heavily trade-reliant economy barely averted a recession with growth of 0.3% in the first quarter, after contracting in late 2022 for the first time in 2-1/2 years. Retail sales rose 0.4% in May, after dropping 2.6% in April - which was the worst in five months - while facility investment jumped 3.5%, the most since August.

Persons: Kang Min Joo, Kang, Jihoon Lee, Jacqueline Wong, Christopher Cushing Organizations: Statistics, ING Economics, Thomson Locations: SEOUL, Statistics Korea

☆ Scammers Target Stores With Bomb Threats, Seeking Bitcoin and Gift Cards
▼ + stars: | 2023-06-25 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ She’s Calling It: ‘That Moment’ for Women’s Soccer Is Now.
▼ + stars: | 2023-06-23 | by ( Talya Minsberg | ) www.nytimes.com time to read: +1 min

In March 2022, she purchased the Washington Spirit, becoming the first woman of color to own a controlling stake in a National Women’s Soccer League team. Just a year later, she is now set to become the first woman to own and lead a multiteam soccer organization, which will encompass both the Spirit and the French club Olympique Lyonnais. The all-stock deal, which is expected to close in late June, will create a new independent entity under Ms. Kang as majority owner. She is already talking of adding more teams from around the world. Players and staff had endured a “horrific situation,” she said of abuse allegations, including accusations that the coach of the team she owned had fostered a toxic workplace culture for female employees.

Persons: Steve Baldwin, Kang, ” Organizations: Washington Spirit, Women’s Soccer League, French, Olympique Lyonnais, Trust, Washington

☆ Netflix CEO says $2.5 bln Korean investment won't exploit local talent
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

South Korea has created some of the Californian company's biggest shows, which have become synonymous with the broader international success of the country's cultural exports and spurred it to announce a $2.5 billion investment in Korean content in April. Don Kang, Netflix's vice president of Korean content, said the company was planning to expand its content investment to films and non-fiction, after previously focusing on series. On Wednesday, Sarandos met with celebrated South Korean director Park Chan-wook and film students and said telling stories from other countries, not just Hollywood, was his "most proud decision". South Korea has produced four of Netflix's 10 most-watched non-English language series, including "Squid Game", "The Glory" and "Extraordinary Attorney Woo". But as Netflix is by far the biggest streaming platform in South Korea, there are also concerns over its dominance.

Persons: Ted Sarandos, Sarandos, Don Kang, Scanline, Han Duck, Park Chan, Woo, 1,293.1100, Hyunsu Yim, Ed Davies, Sam Holmes Organizations: Netflix, Korea Radio Promotion Association, Eyeline Studios, South, Thomson Locations: SEOUL, South, Korea, Seoul, South Korea, Eyeline Studios Korea, United States

☆ ‘Go Back and Get the Bread Sliced!!!!!!’: Instacart Warns Customers Over Rude Behavior
▼ + stars: | 2023-06-21 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/instacart-shoppers-rude-customers-grocery-apps-22ef795b

Persons: Dow Jones

☆ Do You Yell at Instacart Shoppers? You Might Get Blacklisted
▼ + stars: | 2023-06-20 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/instacart-shoppers-rude-customers-grocery-apps-22ef795b

Persons: Dow Jones

☆ Yuan slides after China cuts lending benchmarks; Aussie down
▼ + stars: | 2023-06-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

"Markets were expecting bigger support and were hoping for a larger LPR cut," said currency strategist Christopher Wong at OCBC. It's probably going to be more targeted," said currency strategist Moh Siong Sim at Bank of Singapore. "The minutes were interpreted by market participants as dovish," said currency strategist Carol Kong at Commonwealth Bank of Australia. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets. Sterling edged 0.06% higher to $1.2798, ahead of British inflation data and the Bank of England's (BoE) interest rate decision later in the week.

Persons: Christopher Wong, Moh Siong Sim, Carol Kong, Min Joo Kang, BoE, Rodrigo Catril, Rae Wee, Christopher Cushing Organizations: Bank of Singapore, Reserve Bank of Australia's, Commonwealth Bank of Australia, New Zealand, Bank of Japan's, ING, South, Central Bank, Sterling, Bank of England's, National Australia Bank, Bank of England, U.S ., Thomson Locations: SINGAPORE, China, OCBC, Japan, South Korea

☆ Dollar buoyant; yuan wobbles after China cuts lending benchmarks
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. The offshore yuan dipped slightly following the decision and was down more than 0.1% at 7.1734 per dollar, languishing near last week's roughly seven-month low. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets globally. Sterling rose 0.05% to $1.2797, ahead of British inflation data and the Bank of England's interest rate decision later in the week. Against a basket of currencies, the U.S. dollar rose 0.03% to 102.51.

Persons: it's, Rodrigo Catril, Min Joo Kang, Sterling, BoE, NAB's Organizations: U.S, National Australia Bank, NAB, Bank of, ING, South, Reserve Bank of, New Zealand, Central Bank, Bank of England Locations: China, United States, Asia, Japan, South Korea

☆ ‘Squid Game’ Season 2: New details revealed
▼ + stars: | 2023-06-18 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —Get ready, because everyone’s favorite lethal game show is preparing for a big return. Netflix shared exclusive new details for the second season of its runaway hit South Korean thriller series “Squid Game” on Saturday, as part of its Tudum Global Fan Event in Brazil. A new teaser for the second season of “Squid Game” announced both returning and new cast members, with series lead Lee Jung-jae, playing cash-strapped everyman Seong Gi-hun, back for a second round. Standout cast member Oh Yeong-su, who played the elderly and unassuming Oh Il-nam in the first season of “Squid Game,” has yet to be confirmed as a returning cast member, even though his involvement in the game was revealed to be a bit more complicated at the end of the show’s first season. A release date for Season 2 of “Squid Game” was not immediately available.

Persons: ”, Lee Jung, jae, Seong, Lee Byung, Yim, Kang Ha, Yang Dong, Oh Organizations: CNN, Netflix Locations: Brazil

☆ China eyes support for consumer, private sectors as growth falters
▼ + stars: | 2023-06-15 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

China's cabinet is soliciting proposals from economists and advisers, policy insiders told Reuters, with big changes needing approval from top party leaders, and investors now looking to an expected Politburo meeting in July for clues on policy direction. However, the modest borrowing cost cuts - limited by concerns over banks' profitability and currency stability - will not be enough to boost economic activity, policy insiders said. Authorities are also considering support for the ailing property sector after earlier measures failed to gain traction, including easing credit conditions and home buying curbs in some areas, policy insiders. Economists blame the fading recovery on the "scarring effects" caused by COVID and regulatory curbs on property and tech sectors, which have hit household and private sector spending. Supporting depressed private-sector firms, which account for 60% of economic output and 80% of urban employment, will be essential to lift incomes, jobs and consumption, policy insiders and analysts said.

Persons: Rory Green, Jia Kang, Kevin Yao, Sam Holmes Organizations: quicken, Reuters, People's Bank of China's, TS Lombard, China Academy of New, Economics, Thomson Locations: BEIJING, China, Beijing

☆ Higher-Income Grocery Shoppers Are Shaking Off Higher Prices, Kroger Says
▼ + stars: | 2023-06-15 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: kroger, kr

☆ Asian Development Bank’s new financing plan aims to unlock up to $15 billion for climate action
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsian Development Bank’s new financing plan aims to unlock up to $15 billion for climate actionCNBC's Chery Kang goes to Incheon, South Korea, for the 2023 annual meeting of the Asian Development Bank, where a new financing plan, titled "IF-CAP" was announced. It aims to unlock up to $15 billion for new ADB climate projects.

Persons: Chery Kang Organizations: Asian Development Bank, CAP Locations: Incheon, South Korea

☆ Partnerships with China remain crucial, says ADB governors from Switzerland and Germany
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPartnerships with China remain crucial, says ADB governors from Switzerland and GermanyAt the ADB Annual Meeting 2023, CNBC's Chery Kang caught up with ADB governors from Switzerland and Germany on their geopolitical strategy regarding China. Sri Mulyani Indrawati, Indonesia's finance minister, also spoke about the ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting that happened on the sidelines of the ADB event.

Persons: CNBC's Chery Kang, Mulyani Organizations: ADB, ASEAN, Ministers, Central Bank Governors Locations: China, Switzerland, Germany

☆ Disney delays Avatar, Marvel and Star Wars movies as it shuffles releases
▼ + stars: | 2023-06-13 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +2 min

Disney on Tuesday revealed a shake-up of its movie release calendar, delaying several entries in the Avatar, Marvel and Star Wars franchises. "Avatar," released in 2009, and "Avatar: The Way of Water," released late last year, are two of the three highest-grossing films worldwide. Disney also delayed a planned "Star Wars" movie from December 2025 to May 2026. It added another Star Wars movie to the schedule too — it's set for December 2026. Disney has not released a Star Wars film since "The Rise of Skywalker" in 2019.

Persons: hasn't, James Cameron's, Jonathan Majors, Kang, Marvel, Bob Iger, Disney Organizations: Disney, Marvel, Star Wars, Netflix, Paramount, CNBC

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