Share to Twitter Share to Linkedin Key News Asian equities were largely higher as China, the Philippines, and Malaysia outperformed. Hong Kong and China both opened lower but did a mid-day 180 as reports came in that visitors to China will have their fourteen-day quarantine reduced to seven days. The post-quarantine at-home quarantine was also reduced to three days from seven. Travel-related stocks outperformed today, such as Trip.com HK (9961 HK) +16.54%, Macau casinos, hotels, and airlines. Coincidentally Trip.com (TCOM US) reported Q1 2022 results after the US close yesterday that beat analyst expectations (revenue RMB 4.11B versus estimate RMB 3.85B, adjusted EPS RMB -0.06 versus analyst expectations of RMB -0.46). Reports that Chinese President Xi Jinping will be in Hong Kong this Friday, appear to be confirmed, opening the possibility for more financial reform announcements for the city. Western media seems to be picking up on the reality that … [Read more...] about Trip.com Financial Results Beat & Benefits From China Covid Easing
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First Solar rejects US site for new factory, eyes Europe or India instead
- A + A NEW YORK (June 29): First Solar Inc has decided against building a new factory in the US, citing uncertainties regarding trade policy and tax incentives. The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, and Chief Executive Officer Mark Widmar expects to make a final decision within 90 days. That would come after the company completes a third US plant early next year in Ohio and its first factory in India in the second half of 2023. The decision is a setback for US President Joe Biden’s efforts to boost domestic solar manufacturing. Solar installations have slowed this year amid a US Commerce Department trade investigation, raising the prospect of tariffs on panels imported from four Southeast Asian nations. While the White House announced this month a two-year moratorium on new tariffs and took steps to encourage American production, Widmar said the moves don’t address underlying issues that give … [Read more...] about First Solar rejects US site for new factory, eyes Europe or India instead
Queen Elizabeth meets Sturgeon after new push for independence vote
LONDON (Reuters) - Queen Elizabeth held a meeting with Scotland's Nicola Sturgeon on Wednesday, a day after the Scottish leader set out plans to push for a second independence referendum to break away from the United Kingdom. Buckingham Palace said the 96-year-old queen, who is spending the week in Scotland, had received Sturgeon as well as a Scottish Parliament official in Edinburgh's Holyrood Palace. On Tuesday, Sturgeon, who is Scotland's first minister, announced plans for a second independence referendum to be held on October 2023, and vowed to take legal action if the British government blocks it. Voters in Scotland, which has a population of around 5.5 million, rejected independence by 55% to 45% in a referendum in 2014. The Scottish National Party, which runs Scotland's semi-autonomous government, says Britain's decision in a referendum in 2016 to leave the European Union - a move opposed by a majority of Scots - means the issue must be put to a second vote. The … [Read more...] about Queen Elizabeth meets Sturgeon after new push for independence vote
‘You’re on top of the world’: Inside 4 artists’ studios on the 28th floor of the World Trade Center
As recently as 2015, there were more artists living in New York City than ever before (about 55,000). But from January 2021 to January 2022, rents surged 33%, pushing artists farther and farther out of the city’s creative neighborhoods. advertisement advertisement Then came Silver Art Project. Founded in 2018, the nonprofit runs an art residency on the 28th floor of 4 World Trade Center . Like other organizations with similar goals, Silver Art’s mission is to support artists who are being priced out of the city. Silver Art provides free studios and mentorship to a select cohort of artists; to date, more than 50—ranging from painters and visual artists to photographers and sculptors—have participated. This month marks the end of the second residency, which included 25 artists. While Silver Art is in the process of reviewing more than 1,200 applications for its upcoming cohort, I spoke with four artists who just spent a year working at 4 WTC. Most … [Read more...] about ‘You’re on top of the world’: Inside 4 artists’ studios on the 28th floor of the World Trade Center
Workers who joined Starbucks for transgender health benefits worry they are now at risk
Earlier this year, an Arizona woman whom we’ll call Kelly was completing the paperwork required to get facial feminization surgery. She was diagnosed with gender dysphoria in her teens, and after years of struggling with depression, she decided as a 20-something to transition. Then reality hit fast: The process is expensive, lengthy, and rarely covered by insurance. “So I did what lots of trans people do,” she tells Fast Company . “I got a job at Starbucks.” advertisement advertisement Starbucks has covered some types of gender-reassignment surgery since 2012. But in a radical move in 2018, it worked with the World Professional Association for Transgender Health to unveil a supplemental insurance plan that added coverage of procedures “previously considered cosmetic,” such as breast reduction, forehead contouring, calf implants, and hair transplants. With the requisite medical signoffs, Starbucks workers could get many of these procedures with zero … [Read more...] about Workers who joined Starbucks for transgender health benefits worry they are now at risk
How to Tweak Your NFT Strategy Amid Crypto Winter
The current macroeconomic and geopolitical turmoil has crept up on once the hottest " non-fungible " future. Coming off its best year yet in 2021, NFT values are plunging alongside crypto . The average sale price of an NFT is now below $2,000, down from over $6,800 in January, according to market tracker NonFungible . NFT marketplace volume fell to just over $4 billion in May, from $7.2 billion the month before . On June 18, Bitcoin fell below $20,000 for the first time since 2020 . Ethereum and Solana, the tokens most commonly used with NFTs, have fallen about 71 percent and 79 percent this year, respectively. Despite the plunge, interest remains high. At the fourth annual NFT.NYC conference, which took place last week in New York City, attracted more than 15,000 attendees. "At NFT.NYC, the circles I'm in aren't talking about prices," tweeted Chris Cantino, a partner at venture capital firm Color Capital. They "aren't talking about leaving crypto. [They] … [Read more...] about How to Tweak Your NFT Strategy Amid Crypto Winter
How the Pandemic Is Reshaping Food and Beverage Innovation
The Summer Fancy Food Show in New York City returned in June for its first in-person event since 2019, a return that spotlighted the changes in tastes and behaviors created by the pandemic. The food and beverage industry trade show, organized by the Specialty Food Association , featured more than 1,900 exhibitors across a spectrum of food categories --from cured meats and cheeses to olive oil and sweets and exotic items such as gourmet bananas Foster bonbons ... and sections dedicated to cuisines of countries like Greece and Japan. With continued pandemic perturbations and murmurs of a recession ahead, here are some of the trends that emerged: 1. Convenience still conquers all Consumers prioritized both convenience and comfort during the pandemic, and that sentiment continues to grow. Hybrid and remote work has made e-commerce, delivery, and curated assortments an even bigger part of the convenience trend, according to the SFA's most recent State of the Specialty … [Read more...] about How the Pandemic Is Reshaping Food and Beverage Innovation
Most Prestigious Finance Internships
Every year, top financial firms attract thousands of applicants for internship roles. In early 2022, Goldman Sachs reported 236,000 intern applications, a record for the company. With an acceptance rate of just 1.5%, the company accepted 2,900 globally in 2021. For those pursuing a career in finance, an internship at the top banking and investment firms is highly competitive given the opportunity to break into a high-paying field. While interns at top firms can earn over $80,000 on a prorated basis over a 10-week period, landing a job as a full-time junior banker can pay up to $150,000 in the first year. Key Takeaways The most prestigious finance internships attract thousands of applicants annually. Many have low acceptance rates, with some hovering close to 1%. Duties performed across finance internships include financial modeling, research, and company analysis. They may also include mentorship opportunities and networking events. While some finance internships … [Read more...] about Most Prestigious Finance Internships
Sustainable Investing From The Advisor’s Perspective
The Supreme Court is expected to issue a ruling this month that could curtail the Biden administration's efforts to rein in greenhouse gases, and its impact could weaken the federal government's power to oversee wide swaths of American life well beyond climate change. The upcoming decision on the Environmental Protection Agency's (EPA) climate oversight in a case officially known as West Virginia v. The Environmental Protection Agency, could provide conservative justices on the nation's highest court an opportunity to undermine federal regulations on a number of issues, ranging from limiting greenhouse emissions, drug pricing, financial regulations and net neutrality. At the root of the case, critics of federal government oversight, including 27 Republican state Attorneys Generals and critics of the EPA, who say that it is "unlawful for federal agencies under the president's supervision to make major decisions about industry regulations without clear authorization from Congress." … [Read more...] about Sustainable Investing From The Advisor’s Perspective
The Department of Energy Awards $127 Million to Green Tech Companies
Small businesses in the green tech sector just got a boost from the U.S. Department of Energy. The DOE on Wednesday announced $127 million in grants for small businesses working on green tech solutions. The businesses are in fields relevant to various aspects of the Biden administration's clean energy goals , including renewable energy, carbon management, cybersecurity , grid reliability, and fusion energy. The prizes were distributed among 110 small businesses, generally ranging from $1 million to $2 million apiece. Recipients included North Carolina-based Susteon and Washington-based Emissol, two companies developing forms of direct air capture that can remove carbon dioxide from the air; New York-based Fastwatt and Rhode Island-based Arctura, both of which are making more efficient wind turbines; and Delaware-based RiKarbon, a startup working on creating plastic that's less harmful to the environment. A full list of the recipients can be found here . … [Read more...] about The Department of Energy Awards $127 Million to Green Tech Companies