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FILE– Mercedes’ Lewis Hamilton. REUTERS/Hamad I Mohammed/Pool SAO PAULO—Lewis Hamilton called for action to change “archaic mindsets” after a racist remark about him by Brazilian triple champion Nelson Piquet emerged on social media, triggering widespread condemnation. In a Brazilian interview on YouTube in November, Piquet, 69, used a racial slur when referring to the seven-time world champion, when commenting on Hamilton’s British Grand Prix crash with Max Verstappen . He also said Hamilton had “played dirty” in the incident. Piquet’s daughter Kelly is Verstappen’s partner, and the comments resurfaced as the drivers prepare to return to Silverstone this weekend. Hamilton, who was recently awarded honorary Brazilian citizenship and is the sport’s only Black driver, responded on Twitter. “It’s more than language. These archaic mindsets need to change and have no place in our sport,” the Mercedes driver said. “I’ve been surrounded by these attitudes and targeted my whole … [Read more...] about F1: Lewis Hamilton calls for action amid storm over racist Piquet comment

As recently as last month, news outlets across the country were still covering the Great Resignation —the unprecedented shift in turnover that saw employees leaving their jobs in droves in search of better positions. Yet in light of the recent tech-stock selloff and economic downturn, it looks like the tech industry’s insatiable appetite for new talent is slowing among certain industries. This is being touted as the Great Reset . advertisement advertisement Over the last few years, enthusiastic tech founders were able to take advantage of an unusual period in history where the market was flush with capital from overzealous investors and government-backed stimulus. Those founders are now waking up to a new reality and discovering that the money they raised is being burned at an unsustainable pace. Companies are making difficult decisions as a result, including a wave of layoffs across the tech industry. Other companies, including Meta , are … [Read more...] about How employers and candidates can adjust to the Great Reset

If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don't need to go as far back as 1918. Instead, we can look to 1998 . That's the year Russia defaulted on ruble-denominated bonds, triggering a "Moscow meltdown" that infected markets around the globe. Quick rewind: In August 1998 , following years of upheaval after the fall of the Soviet Union, the Russian government defaulted on its local debt and devalued the ruble. The move sparked chaos in Russia, driving up inflation, causing an economic contraction and triggering bank … [Read more...] about Russia’s last default sparked a crisis. This time is different

Devotees join the fluvial parade in honor of St. Peter on his feast day in Apalit town, Pampanga province on Tuesday, June 28. (Photo by Tonette Orejas) APALIT, Pampanga — The 177th fluvial parade of the image of St. Peter has resumed on a modest start, drawing fewer devotees on Tuesday, June 27. The couple Paulino and Arlyn de Leon, who have been coming to the feast for the last 44 years, observed that fewer people streamed to a private chapel in Barangay Capalangan here from 7 a.m. to 12 noon when the image was fetched by hundreds of men belonging to the Knights of St. Peter. “Pre-pandemic, the place was filled with people. Now, you see vacant spaces,” Arlyn said, adding that people may still be wary of the virus causing COVID-19. But Fausto “Esting” Alfonso, who at 79 is the eldest knight, said he was happy that the tradition has resumed. A devotee of Apung Iru — his term of endearment for the saint — for 67 years now, Alfonso said the suspension of the tradition since … [Read more...] about Fluvial parade resumes in Pampanga with fewer devotees

Here's a challenge: Figure out a way to shoot your top-rated television show while all of your stars, crew, and talent are forced to stay home . Even better: Plan, shoot, and film a musical sing-along special under those same conditions--and do it in a week. Or, record your daily late-night show without access to your studio, your crew, or an audience of any kind. Sure, in a world where people still can't find toilet paper at the grocery store, how Hollywood produces shows might not seem like a big deal--but hear me out. There's a lesson here for every business . As much as people need toilet paper, or anything else right now, people need some form of "normal," whatever that may mean. People are counting on their favorite forms of entertainment to unwind and stay sane right now. The problem is, productions have largely shut down amid social distancing and stay-at-home orders. A few shows, however, have figured out creative ways to keep things going. … [Read more...] about How the iPhone Is Becoming Hollywood’s Secret Weapon

JANG JOO-YOUNG The author is a national team reporter of the JoongAng Ilbo. The world renowned art museum Tate Modern is located in Bankside, on the southern bank of the river Thames in London. The museum opened in May 2000 in a renovated power plant building. It was a poor and underdeveloped neighborhood, but after the museum opened, it became a major attraction. Works by famous artists such as Andy Warhol and Paik Nam-june are on display, attracting many visitors. It is considered a successful case of urban renewal, preserving the historic significance while also vitalizing the area. The success of the Tate Modern cannot be explained by the preservation of the old building alone. What made it special was combining new facilities with the structure. A footbridge and the Millennium Bridge over the Thames in front of the museum enhanced access to the site. Visitors to London can cross the bridge and tour both St. Paul’s Cathedral on the northern side and the Tate Modern. An … [Read more...] about Between redevelopment and renewal (KOR)

Share to Twitter Share to Linkedin Crypto may be down, but Jack Lu and Zhouxun Yin are continuing to build. The cofounders of Magic Eden, the top Solana SOL -based NFT marketplace by market share, announced today the close of a $130 million Series B venture round. The added capital brings the company’s valuation up to $1.6 billion and is one of the first major investments to be announced since the recent crypto plunge that saw bitcoin fall below $20,000 and ether drop under $1,000. Magic Eden now becomes the third NFT marketplace to achieve unicorn status alongside $13 billion OpenSea and $7 billion LooksRare. The funding was co-led by Electric Capital and Greylock and it comes three months after the company announced its $27 million Series A in March 2022. “Magic Eden’s ability to keep pace and drive innovation in a rapidly evolving NFT market is extremely impressive,” said Avichal Garg, cofounder and managing partner at Electric Capital. “They … [Read more...] about Billion Dollar NFT Marketplace Magic Eden Raises $130 Million Despite Signs Of Crypto Winter

Thai netizens have slammed government officials in the central province of Pathum Thani for wasting taxes on a pointless trip to Phang Nga and Phuket. Government officials from the Mueng Tha Khlong District were supposed to be taking part in a working seminar to develop women’s potential in Phang Nga, and Phuket, from June 23 – 26. But the non-profit organization, Anti-Corruption of Thailand, criticised the government on its Facebook page, ปฏิบัติการหมาเฝ้าบ้าน, saying they used the 490,000 baht trip as a holiday. The pictures posted on the non-profit organisation’s Facebook page were taken from the Facebook accounts of the seminar participants. The picture captions were cutting. One said, “Others might go to the sea to escape from love and hot weather, but we escape from work.” Another said, “Go to Phuket! Thanks to the kind sponsors,” and another, “Wonderful activities for Tha Khlong women.” The pictures reveal the participants cruising, visiting tourist attractions, … [Read more...] about Thai netizens berate government for wasting public cash on working holidays

UPDATE Stall sellers and the owners of the Ratchawong Rungrueng packaging shop building, which caught fire in Bangkok’s Chinatown on Saturday, say they are going to sue the Metropolitan Electricity Authority for negligence after a broken transformer caused the blaze that killed 2 people. The faulty transformer caught fire and quickly ripped through the 3-story building on Ratchawong Road in the Sumphanthawong district of Bangkok, also affecting 4 nearby buildings and stalls, causing the death of 2 people and millions of baht worth of damage. The inspector of police from the Chakkrawat Police Station, Ponlawat Promsorn, yesterday spoke to the building owners, and stall sellers, and they estimated the damage caused by the fire is about 10 million baht. They revealed they are suing the MEA and other relevant departments for their recklessness. The building owner revealed to the police and media that they asked the MEA to repair the transformer many times, but they allegedly did … [Read more...] about UPDATE: Owner of fire building in Bangkok Chinatown to sue electric authority