Month: August 2022
Labor supply in hospitality sector is “very tight” given wage inflation: HSH CEO
The Hongkong and Shanghai Hotels’ CEO Clement Kwok says the luxury hotel group remains cautious on the business outlook despite the momentum in “revenge-spending”. Source
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Russia’s Medvedev says Moscow will achieve its aims in Ukraine; two more ships depart Ukrainian ports
Former Russian President Medvedev says Moscow will achieve its aims in Ukraine Deputy chairman of the Russian Security Council Dmitry Medvedev attends a wreath-laying ceremony at the Tomb of the Unknown Soldier in the Alexandrovsky Garden near the Kremlin wall in Moscow on June 22, 2022. Yekaterina Shtukina | Afp | Getty Images Former Russian […]
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SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history
SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted one of its biggest losses at its Vision Fund investment […]
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Hong Kong cuts hotel quarantine for travelers to 3 days, plus 4 days of home medical surveillance
Hong Kong is reducing the amount of time travelers will need to serve hotel quarantine, from seven days down to three starting Friday. “The seven-day quarantine hotel arrangement will be changed to three days in a quarantine hotel, plus four days of home medical surveillance,” Chief Executive John Lee said at a press conference Monday. […]
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Baidu’s robotaxis don’t need any human staff in these parts of China
Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu BEIJING — Chinese tech company Baidu said Monday it has become the first robotaxi operator in China to obtain permits for selling rides with no human driver or staff member inside the vehicles. The local […]
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Video game giants had a miserable second quarter as the pandemic gaming boom hits a wall
A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted […]
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Bankrupt crypto lending platform Celsius withdraws motion to hire CFO back at $92,000 a month
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Celsius CEO Alex Mashinsky (above) was “able to enrich himself considerably.” Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Embattled […]
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Senate passes sweeping climate, health and tax package, putting Democrats on cusp of historic win
U.S. Senate Majority Leader Chuck Schumer (D-NY) holds a news conference to tout the $430 billion drug pricing, energy and tax bill championed by Democrats at the U.S. Capitol in Washington, U.S. August 5, 2022. Jonathan Ernst | Reuters WASHINGTON — Senate Democrats narrowly passed a sweeping climate and economic package on Sunday, putting President […]
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Republicans block cap on insulin costs for many Americans from Democratic deal
U.S. Senate Minority Leader Mitch McConnell (R-KY) speaks to reporters following the Senate Republicans weekly policy lunch at the U.S. Capitol in Washington, July 19, 2022. Elizabeth Frantz | Reuters Republican senators on Sunday voted down a cap on the price of insulin in the private market, removing it from Democrats’ sweeping climate and economic […]
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Best offense is defense? This sophisticated market play helps investors protect themselves from dramatic lows
It’s a class of exchange-traded funds designed to prevent your portfolio from hitting dramatic lows — but it may require a level of sophistication. The idea: Incorporate short-term levered plays including covered call and risk-reversal strategies in order to help investors customize their own defensive strategies similar to hedging. However, it may come with an unintended […]
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