Oleg Deripaska Transfers Stake in Strabag to Russian Firm Iliadis =============== #46ee61de ver:0.08 Russian billionaire Oleg Deripaska has completed the transfer of his stake in Austrian construction firm Strabag to Russian company Iliadis JSC. The sale was announced in December, and Deripaska's former shareholder, MKAO Rasperia Trading Limited, held a 24.1% stake in Strabag. Raiffeisen Bank International (RBI) had initially planned to purchase Rasperia's stake, but the deal faced scrutiny from US authorities, who urged the bank to abandon the plans. Strabag has stated that it cannot confirm whether the transfer of Rasperia's stake to Iliadis has been completed, and it continues to assume that the stake remains frozen under European Union sanctions. ... #newstr #OlegDeripaska #Strabag #IliadisJsc #RaiffeisenBankInternational #ConstructionIndustry #EuropeanUnionSanctions

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Hong Kong's TVB Reduces Losses by 5.5% to HK$763 Million, Implements Cost-Cutting Measures =============== #1f9c89d9 ver:0.19 Shanghai is confident in achieving its 5% GDP growth target and becoming a modernized socialist international metropolis with global influence. Mayor Gong Zheng outlined the city's economic development plans, which include enhancing foreign-language services, facilitating trade, and focusing on research and innovation. The city registered a record high of $24 billion in foreign investment utilization in 2023, solidifying its position as an attractive destination for international investments. Shanghai aims to further attract international investments and talent by implementing dedicated mechanisms and improving the business environment. The city also plans to increase expenditure on basic research and establish a high-caliber innovation platform, positioning itself as a hub of science and ... #newstr #HongKongTvb #FinancialResults #Costcutting #RevenueGrowth #Layoffs #Ebitda #MainlandChina #AlibabaGroup #CultureAndFilmIndustries #Youku #TvDramas

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Art Basel Hong Kong 2024 Showcases Exceptional Art and Growth of Hong Kong's Art Scene =============== #3c5f5014 ver:0.34 Hong Kong Art Week is in full swing, with Art Basel Hong Kong returning to its pre-pandemic scale, featuring 242 galleries from 40 countries and territories. The show highlights the exceptional art from across the Asia-Pacific region. Art Basel Hong Kong has curated sections like Insights, Encounters, and Kabinett, offering visitors a diverse range of artworks to explore. The fair also features the Conversations and Film programs, which are free to the public. The Insights sector at Art Basel Hong Kong showcases exceptional historical material, providing insights into the art world's past. This sector offers a unique opportunity for collectors and art enthusiasts to engage with significant artworks and gain a deeper understanding of art history. Encounters is another exciting section ... #newstr #ArtBaselHongKong #ArtFair #Galleries #ArtMarket #Asiapacific

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Hong Kong Police Arrest 15-Year-Old Girl Linked to Phone Scams Involving HK$1.75 Million in Losses =============== #5bcb625e ver:0.26 Hong Kong police have arrested a 15-year-old girl in connection with seven phone scams that targeted elderly individuals living alone. The scams involved a 'guess who I am' style, where the victims were informed that their family members had been arrested and needed bail payments. The girl was recruited by fraudsters through Instagram and was instructed to receive the money. The largest loss amounted to HK$1.26 million suffered by an 81-year-old woman. The girl has been detained on charges of obtaining property by deception, and further arrests may follow. Fraud cases in Hong Kong have been increasing, with over 90,000 reported crimes in 2023, representing a 28.9% rise from the previous year.... #newstr #HongKong #NationalSecurityLaw #Protests #SexualAssault #Canton #Ohio #Pornography #Voyeurism #Cromer #Moneylaundering

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Small Business Hiring Woes Ease as U.S. Economy Remains Strong =============== #adeca620 ver:0.14 In January 2024, small businesses in the United States continue to face challenges in the labor market and regulatory landscape. During the CO— Small Business Update event, Neil Bradley, Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy at the U.S. Chamber of Commerce, discussed the current state of the U.S. labor workforce. The U.S. unemployment rate is at 3.7%, leading to recruitment and staffing shortages for small businesses. Factors such as the COVID-19 pandemic, early retirements, and generational shifts have contributed to the smaller applicant pool . To address the labor shortage, Bradley suggested that small businesses prioritize legal immigration to add more workers to the workforce. He also emphasized the importance of leveraging the natural benefit... #newstr #SmallBusiness #Employment #Hiring #Economy

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Key Economic Releases and Events to Watch in the First Trading Week of April 2024 =============== #cb013203 ver:0.17 The first trading week of April 2024 is expected to be eventful, with several key economic releases and events on the horizon. Traders and investors will be closely monitoring these developments, which have the potential to significantly impact the global economy. One of the key events to watch is the release of the US core Personal Consumption Expenditures (PCE) price data. This release may impact the Federal Reserve's rate path and will be closely watched by market participants . In addition to the US PCE price data, there are three other key events to watch in the first week of April. First, the Reserve Bank of Australia (RBA) meeting minutes on April 2 will be closely watched for any clues on the timeline for rate cuts. Second, the Eurozone's flash inflation rate on April 3 will prov... #newstr #EconomicCalendar #UsCorePcePrice #FederalReserve #ReserveBankOfAustralia #RbaMeetingMinutes #EurozoneInflationRate #EuropeanCentralBank #UsNonfarmPayrolls

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EUR/USD Forecast: Euro buyers hesitate in the absence of fundamental drivers =============== #acbb1c95 ver:0.4 The EUR/USD currency pair is currently trading at 1.0816, up 0.08% on the day, as the US Dollar weakens. The pair has managed to hold above the key support level of 1.0800 despite increased volatility in recent days. The Federal Open Market Committee (FOMC) decided to keep interest rates unchanged at 5.25–5.50% for the fifth consecutive meeting. Fed Chair Powell stated that the recent elevated CPI inflation data has not changed the view that inflation is trending lower. On the other hand, ECB Governing Council member Edward Scicluna suggested that an interest rate cut from the ECB in April could be warranted and should not be ruled out. Traders are now focusing on upcoming economic data, including the Chicago Fed National Activity Index, US New Home Sales data, German Retail Sales, and US ... #newstr #Eur/usd #UsDollar #EconomicData #FederalReserve #Ecb #RussiaukraineConflict

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GBP/USD Drifts Lower to 1.2620 as UK GDP Data Looms =============== #ceb5d66c ver:0.41 The GBP/USD currency pair is trading softer around 1.2630 in Wednesday's early Asian session. The pair reversed its direction after dipping below 1.2700 on Wednesday and closed the day higher, supported by the broad-based selling pressure on the US dollar. The US Durable Goods Orders rose 1.4% in February, better than expected. The Bank of England's Catherine Mann dampened expectations for large interest rate cuts this year, warning that financial markets are expecting too many rate cuts and that the BoE is unlikely to move before the US Federal Reserve. On Thursday, the US and UK Gross Domestic Product (GDP) data will be released. Traders will take more cues from UK GDP growth numbers, which are estimated to contract 0.3% QoQ and 0.2% YoY in the fourth quarter. Despite recent monthly infl... #newstr #Gbp/usd #CurrencyPair #BankOfEngland #FederalReserve #Gdp #InterestRates

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Chinese President Xi Jinping Meets with Top US Executives in Beijing to Boost Confidence in the World's Second Largest Economy =============== #dda14a4e ver:0.39 Chinese President Xi Jinping met with representatives of US businesses in Beijing's Great Hall of the People on Wednesday, March 27, 2024. The meeting, proposed by Evan Greenberg, the chief executive of U.S. insurer Chubb, aimed to address concerns about China's business environment and strengthen business ties between China and the United States . The meeting included representatives from the US business community and academia, as well as prominent figures such as Apple CEO Tim Cook, Blackstone’s Stephen Schwarzman, Qualcomm Inc.’s Cristiano Amon, FedEx Corp. CEO Raj Subramaniam, and other top executives . The CEOs extended their stay in China after receiving a last-minute invitation to meet with President Xi Jinping . The meeting provided an opportunity to discuss trade and inve... #newstr #China #Us #Business #Investment #ChinaDevelopmentForum

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Strike Activity in the US Surges, Recording Significant Growth in 2023 =============== #4d2c1f9b ver:0.16 Labor unions in the US experienced a resurgence in 2023, with high-profile strikes and support from political leaders . The United Auto Workers' 50-day strike against the Big Three Detroit automakers resulted in substantial pay increases and cost-of-living adjustments for workers, with President Joe Biden joining the picket lines in support . In the entertainment industry, professionals led a months-long strike against Hollywood studios, securing higher pay and improved compensation for streaming productions . Throughout the year, workers organized strikes nearly 400 times, reflecting a growing momentum for collective action . The National Labor Relations Board also witnessed an increase in unfair labor practice charges and union representation petitions, highlighting the challenges faced ... #newstr #StrikeActivity #LaborUnions #UnitedAutoWorkers #Hollywood #WorkStoppages #BureauOfLaborStatistics #CornellUniversity

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China's Industrial Profits Return to Growth as Xi Jinping Meets US Business Leaders =============== #e579db8a ver:0.34 Global stock markets have continued their rally, with the US and Australian indices marking a fourth consecutive month of gains. The S&P500 and ASX200 have both shown upward momentum. Despite challenges such as high inflation figures and scaling back of hopes for bold rate cuts, investor sentiment remains positive. The US economy saw core PCE inflation rise by 0.4% MoM for 2.8% YoY in January. In Germany, the inflation rate in February eased to 2.5% YoY, while Japan's inflation rate dropped to 2.2% YoY in January. Australia's Monthly CPI indicator for January rose by 3.4% YoY. The second estimate of US Q4 GDP was 3.2%, and the Canadian economy expanded by 0.2% in Q4. Crude oil and gold have also seen gains. Upcoming events to watch include GDP numbers for Q4 in Australia, the ECB interest ... #newstr #China #IndustrialProfits #XiJinping #UsBusinessLeaders #AustralianInflation

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US Ambassador Eric Garcetti Highlights Job Creation Potential of Decarbonisation in India =============== #4abbdfa7 ver:0.35 US Ambassador to India, Eric Garcetti, spoke at the US-India Climate Technologies Action Group--Forum on Decarbonizing Pathways, emphasizing the potential for job creation through decarbonisation in India. Garcetti stated that by adopting greener pathways and becoming a leader in the region and the world, India could create millions of jobs in the next 20 years. Currently, India has about 184 GW of renewable energy capacity, accounting for over 42% of its total power generation capacity. India has set a target of having 500 GW of renewable energy by 2030 . Garcetti also highlighted the importance of the US-India friendship and stated that together, they can be the twin pillars of green hydrogen in the world. His remarks underscore the collaborative spirit between the two countries in addr... #newstr #Decarbonisation #Jobs #UsAmbassador #India #RenewableEnergy

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Minnesota Soybean Research Council Promotes U.S. Soy in Uzbekistan =============== #9abdf4b9 ver:0.05 Uzbekistan recently expressed interest in testing and growing Belarusian potato varieties to address its domestic potato needs . The Uzbekistan Minister of Agriculture, Ibrokhim Abdurakhmonov, announced plans to start growing and testing new potato varieties this season . The first batch of potato varieties has already been ordered, with a delivery expected in the near future . Uzbekistan currently only meets half of its potato needs, making this collaboration crucial for improving self-sufficiency in potato production . The success of this initial cooperation will determine further collaboration in this area . The Minnesota Soybean Research & Promotion Council (MSR&PC) recently conducted a trade mission to Uzbekistan to promote the value of U.S. soy . The trade mission took place from Ma... #newstr #Uzbekistan #BelarusianPotatoVarieties #UsSoy #TradeMission

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Pawn Shops Highlight Economic Struggles Ignored by Biden Administration =============== #2fc05d47 ver:0.06 US consumers are turning to selling their gold jewelry as a means to cope with rising inflation and the looming economic crisis. The increase in gold prices has incentivized consumers to cash in on their broken jewelry. While in March, customers were selling their old jewelry to invest in the stock market, the current trend is driven by the need to make mortgage payments. The surge in gold recycling aligns with the demand for safe-haven assets due to geopolitical uncertainty. However, consumers are more focused on the state of the domestic economy and remain skeptical that inflation will subside. Despite the Federal Reserve's confidence in controlling inflation, concerns about a potential recession persist. Pawn shops are experiencing a pile-up of inventory, indicating tough times for lo... #newstr #PawnShops #Economy #Biden #FinancialStruggles #Debt

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The Challenges of Obtaining Crop Insurance for Specialty Crops in a Changing Climate =============== #ab96db69 ver:0.17 Chicago soybean and corn futures eased on Thursday as an advancing U.S. harvest underscored ample global supplies while weaker oil prices raised concern about global demand. The farm economy is at a critical juncture as the corn harvest plays a pivotal role in determining its trajectory. The United States Department of Agriculture (USDA) projects that Illinois farmers will harvest an average of 198 bushels per acre of corn in 2023, which is 16 bushels per acre lower than the final estimate for 2022. However, field canvassers from Bloomington-based agricultural cooperative GROWMARK have gathered data that paints a different picture. According to their findings, Illinois farmers are expected to harvest 213 bushels per acre this fall, based on 282 field location samples. The discrepancy betw... #newstr #Agriculture #TradeDeficit #Exports #BidenAdministration #China

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Chinese EVs Expected to Capture 25% of European Market, Prompting EU Consideration of Import Tariffs =============== #ac1676e0 ver:0.19 China's stock market experienced a decline as tensions between the US and China escalated over a new American policy that could disadvantage Chinese electric vehicle (EV) manufacturers. The Shanghai Composite Index fell by 1.3%, or 38.34 points, to close at 2,993.14, while the Shenzhen Component Index dropped by 2.4%, or 226.96 points, to 9,222.47 . China argues that the US Inflation Reduction Act includes discriminatory subsidies that unfairly exclude Chinese-made EVs. In response, China has filed a complaint with the World Trade Organization (WTO) against the Act . Despite the market downturn, data from the National Bureau of Statistics revealed a strong 10.2% year-on-year increase in industrial profits for the first two months of 2024 . In addition to the trade tensions, Guangdong Ti... #newstr #China #Us #TradeTensions #ElectricVehicles #EuropeanMarket #ImportTariffs

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Sensex and Nifty Start Lower, Influenced by Global Markets =============== #5dc2e9a2 ver:0.53 The Indian stock market opened flat after the Holi festivities, with the benchmark Sensex down by 234.50 points, opening at 72,597.44, while the Nifty slipped 47.95 points to commence at 22,048.80. Among the Nifty companies, 13 advanced while 37 declined in early trade. Notable gainers included HDFC Life, Adani Ports, Tata Motors, Hero MotoCorp, and Bajaj Auto, while Maruti, SABI Life, Kotak Bank, Infosys, and Hindustan Unilever led the losses. The market is predicted to open on a muted but positive note, influenced by mixed signals from global markets. Foreign institutional investors (FIIs) net sold shares worth 3,309.76 crore, while domestic institutional investors (DIIs) bought 3,764.87 crore worth of stocks on March 22. The NSE F&O ban list for March 26 includes Biocon, SAIL, Tata Chem... #newstr #Sensex #Nifty #StockMarket #GlobalMarkets #UsFederalReserve

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Germany's Economic Challenges Highlighted as Italy's Growth Fades =============== #c893ac10 ver:0.08 German factory orders rebounded partially in August, a sign that the country’s crucial manufacturing sector may be stabilizing as it suffers from a global economic slowdown and higher interest rates . Demand increased 3.9%, surpassing economists' expectations. Germany’s economy, which has been the euro zone’s weakest link, is projected to shrink this year due to waning demand for goods and services. In August, exports dropped by 1.2%, more than anticipated. German manufacturers are also grappling with challenges such as the war in Ukraine, an aging workforce, and dependence on China. However, there is an opportunity for the German economy to regain its technological leadership through the green transition. The country's long-term potential growth will depend on how it addresses its structu... #newstr #Germany #Italy #EconomicChallenges #ManufacturingSector #GlobalEconomicSlowdown #Investment #ProductivityGrowth

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Chinese President Xi Jinping Meets with Top US Executives in Beijing to Boost Confidence in the World's Second Largest Economy =============== #dda14a4e ver:0.38 Chinese President Xi Jinping met with representatives of US businesses in Beijing's Great Hall of the People on Wednesday, March 27, 2024. The meeting, proposed by Evan Greenberg, the chief executive of U.S. insurer Chubb, aimed to address concerns about China's business environment and strengthen business ties between China and the United States . The meeting included representatives from the US business community and academia, as well as prominent figures such as Apple CEO Tim Cook, Blackstone’s Stephen Schwarzman, Qualcomm Inc.’s Cristiano Amon, FedEx Corp. CEO Raj Subramaniam, and other top executives . The CEOs extended their stay in China after receiving a last-minute invitation to meet with President Xi Jinping . The meeting provided an opportunity to discuss trade and inve... #newstr #China #XiJinping #UsCeos #ForeignInvestment #EconomicGrowth

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Joe Biden's Approval Rating Drops as Majority of Americans Disapprove of Israeli Action in Gaza =============== #73088d92 ver:0.1 Recent polls indicate that a majority of American voters are dissatisfied with President Joe Biden's handling of the Israeli-Palestinian conflict and his support for Israel. A New York Times/Siena College poll conducted in December 2023 revealed that 57% of Americans disapproved of Biden's approach to the conflict, while only 33% approved . A more recent poll conducted by the University of Massachusetts Amherst and YouGov in January 2024 found that just under 60% of respondents nationwide believe that President Biden is not handling the ongoing conflict between Israel and Hamas well, while only 31% approve of his policy regarding Israel . The poll also revealed that 50% of respondents view Israel's actions as genocidal, while the other 50% push back against this declaration . A new Gallu... #newstr #JoeBiden #IsraelipalestinianConflict #Israel #Gaza #ApprovalRating #Poll

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