Month: May 2022
From North Korea to testy ties with China, South Korea’s new leader has big challenges ahead
South Korea’s new president Yoon Suk-yeol isn’t going to “have much of a honeymoon period,” said Kathleen Stephens, president and CEO of the Korea Economic Institute of America and former U.S. ambassador to South Korea. “I think he said the right thing as he is inaugurated, about his desire to see Korea play a larger […]
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Ukraine’s economy hit as war drags on; Biden presses Congress to pass more military aid
Russia’s economy to shrink 10% this year, Ukraine’s to contract 30%: Report Damaged buildings are seen as Russian attacks continue in Mariupol, Ukraine on May 4, 2022. Leon Klein | Anadolu Agency | Getty Images The war in Ukraine is hitting both Russia and Kyiv’s economy hard, with both expected to see sharp plunges in […]
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CNBC PRO Talks: Where one fund manager is putting his money during the market madness
Join the upcoming CNBC Pro talks to hear Will Koulouris quiz Pella Funds Management’s Jordan Cvetanovski on how to invest during the market turmoil. Source
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Russia still faces a high chance of default, despite payment
Russia faces renewed threat of debt default on May 4, according to major ratings agencies, as the grace period comes to a close after it attempted to service its dollar bond payments in Russian rubles. Mikhail Tereshchenko | Sputnik | via Reuters Although Russia has so far averted a historic debt default since sanctions were […]
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More U.S. companies in China cut forecasts, scale back investments as Covid persists
Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China […]
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Philippine central bank chief says he’s ‘not concerned’ about recent peso weakness
There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar. As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters […]
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Bitcoin dips below $30,000, drops more than 56% from its all-time high
Bitcoin dropped below the $30,000 level late Monday, breaching a symbolic price threshold. At its lowest price point, the world’s most popular cryptocurrency was more than 12% lower on the day — and more than 56% off its November all-time high of around $69,000. The last time bitcoin traded below $30,000 was in July 2021, […]
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Andy Warhol’s ‘Marilyn’ sells for $195 million, setting record for American art
A woman takes a photo of Andy Warhol’s ‘Shot Sage Blue Marilyn’ during Christie’s 20th and 21st Century Art press preview at Christie’s New York on April 29, 2022 in New York City. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images) Angela Weiss | Afp | Getty Images Andy Warhol’s […]
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Amazon fires two employees tied to Staten Island union effort
Workers stand in line to cast ballots for a union election at Amazon’s JFK8 distribution center, in the Staten Island borough of New York City, U.S. March 25, 2022. Brendan Mcdermid | Reuters Amazon has fired two employees tied to an organizing campaign that resulted in the company’s first unionized warehouse in the U.S. Mat […]
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Papa John’s delivery driver staffing levels are getting ‘progressively better,’ CEO says
Papa John’s is seeing improvement in staffing levels for delivery drivers, CEO Rob Lynch told CNBC’s Jim Cramer on Monday. “April was a challenging month, but our staffing situation has gotten progressively better. We’re starting to get drivers to come in and take the orders. … Our demand is still huge, and it’s been a […]
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