World

China a ‘principal military, economic threat’ in Asia: US Commerce Secretary
9Dec mmBy Mike TrudellNo Comments
Asia, China, Market, Singapore, World

China a ‘principal military, economic threat’ in Asia: US Commerce Secretary

China continues to be both the largest potential market and the principal military and economic threat in the Asian region, US Secretary of Commerce Wilbur Ross said on Tuesday.Speaking at the Milken Institute Asia Summit, Ross said: “China accounts for 210 out of 539 anti-dumping and countervailing duty orders imposed by the U.S. In addition, China makes up a “good portion” of the U.S. entity list that restricts companies’ access to American suppliers for national security reasons, he said.Anti-dumping and countervailing duties are slapped on products suspected of being sold at an unfairly low price. Chinese firms that have been put on the entity list include telecommunications giant Huawei.Commenting on the recently signed between China and 14 other Asia-Pacific Countries, Ross said that...
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The best brick-and-mortar savings account for banking at PNC Bank
8Dec By Desk TeamNo Comments
Market, Singapore, USA, World

The best brick-and-mortar savings account for banking at PNC Bank

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public. Traditional brick-and-mortar savings accounts can be a simple but stable solution for keeping your money secure. They mostly all earn the same interest rate, come with minimum balance requirements and monthly fees. Account holders also have access to their thousands of in-person branches and ATMs, one of the most common reasons why people opt for big banks. With approximately 2,300 branch locations and nearly 18,000 PNC and PNC Partner ATMs, PNC Bank is one of these large brick-and-mortar banks. It stands out, however, for offering a savings account option called Virtual Wallet®, which uses innovative ...
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An outsider’s look at the problems plaguing rural Japan
8Dec By Desk TeamNo Comments
Market, Singapore, USA, World

An outsider’s look at the problems plaguing rural Japan

It’s not something you typically see: a South Indian Masters graduate and former architectural designer assisting with freeze-drying traditional food items in a remote village in mountainous Yamagata Prefecture. But for Priya Mu, that’s just part of the job. Mu is a community intern for the village of Nakatsugawa (not to be confused with the town of the same name in Gifu Prefecture), named one of the 100 most beautiful villages in Japan for its unique landscape, fronting a dramatic mountain range, and well-preserved customs and culture, including snow festivals in both winter and summer. Working closely with local village leaders, Mu assists farmhouse bed-and-breakfasts to develop their nōhaku Eigo — service-industry language skills that help improve communication with foreign visitors — ...
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NATO must devote more time, action to counter security challenges posed by China: Report
7Dec mmBy Mike TrudellNo Comments
China, Singapore, World

NATO must devote more time, action to counter security challenges posed by China: Report

North Atlantic Treaty Organisation (NATO) in its latest report titled 'NATO 2030 - United for a New Era report' has said that it must devote more time, political resources, and action to counter the security challenges posed by China.The report has also recommended a special unit within the Joint Intelligence and Security Division (JISD) to monitor Russia-China cooperation impacting Euro-Atlantic security.The internal political differences are "dangerous" as they help the "external actors, and in particular Russia and China, to exploit intra-Alliance differences and take advantage of individual Allies in ways that endanger their collective interests and security", the report stated."This includes actions that are directly relevant to NATO's traditional geographic and functional mission but...
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Ulta Beauty strikes deal to open hundreds of shops at Target stores
6Dec By Desk TeamNo Comments
Market, Singapore, World

Ulta Beauty strikes deal to open hundreds of shops at Target stores

Target has struck a deal with Ulta Beauty to open shops with makeup, skincare, hair products and more inside of hundreds of its stores. Target and Ulta Beauty announced a deal Tuesday to open makeup and skincare shops inside of hundreds of Target stores across the country. Target CEO Brian Cornell said starting in the second half of next year, shoppers will find a smaller version of an Ulta store in more than 100 of Target's stores and on its website. Each "shop-in-shop" will be about 1,000 square feet with more than 40 beauty brands and a rotating assortment of products from hair care and fragrances to lip gloss. Customers can shop in person or use Target's same-day services, such as curbside pickup or home delivery by Shipt, to get their online beauty purchases. Ulta will train Targe...
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Irish PM hopes for outline of Brexit trade deal this week but differences remain
6Dec By Desk TeamNo Comments
Singapore, World

Irish PM hopes for outline of Brexit trade deal this week but differences remain

BRUSSELS/DUBLIN: Ireland's prime minister said on Monday (Nov 23) he hoped the outline of a Brexit free-trade deal would emerge by the end of this week, despite what the European Union's negotiator called "fundamental divergences" at talks. Britain and the EU are trying to agree terms to keep annual bilateral trade worth nearly a trillion dollars free of tariffs and quotas from 2021, when a standstill transition period ends following Britain's departure from the EU last January. As talks resumed remotely on Monday, EU negotiator Michel Barnier said major gaps remained on divvying up fishing rights and ensuring economic fair play for companies, including on state aid. But Irish Prime Minister Micheal Martin, whose country is in the EU, said he had got a sense of progress from both ne...
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India’s Cabinet Secretary reviews arrangements for COVID vaccine roll-out
3Dec mmBy Joe RodriguezNo Comments
Asia, USA, World

India’s Cabinet Secretary reviews arrangements for COVID vaccine roll-out

In a high-level meeting, Cabinet Secretary of India, Rajiv Gauba asked all the states and union territories to prepare and maintain a database of the prioritized group of people to receive the COVID-19 vaccine during the initial stages.Chief Secretary of the union territory of Jammu and Kashmir, BVR Subrahmanyam, and Director General of J&K Police, Dilbag Singh along with Chief Secretaries of all the states/UTs participated in the meeting.While reviewing the public health response to COVID-19, the Cabinet Secretary said that at present, three companies are frontrunners in developing COVID-19 vaccines in India, which are currently in the third phase of clinical trials and will be shortly available for usage.He asked the States/UTs to “develop respective databases to prioritize various g...
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Kelly Evans: The bond market goes “risk-on”
3Dec By Desk TeamNo Comments
Market, World

Kelly Evans: The bond market goes “risk-on”

Pretty impressive move in the 10-year Treasury note yesterday; the yield jumped above 0.95% and is holding there this morning. That puts us back to nearly the highs we reached on election night. We haven't been above 1% since March. It wasn't just there that we saw some big bond-market moves; investors also piled into high-yield a.k.a. "junk" bonds and drove the yield on the Barclays' index down by the same amount as Treasury yields rose, about 10 basis points. That's a pretty big "risk-on" signal, as analyst Brian Reynolds of Reynolds Strategy pointed out; what's more, it's the second such day in a month of such combined moves (the first being Nov. 9th, on Pfizer's vaccine announcement). That means we've got a "cluster" now of risk-on credit days, which is historically a bullish thing. ...
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Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’
3Dec By Desk TeamNo Comments
Market, World

Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’

After a down day for stocks in Wednesday's session, CNBC's Jim Cramer said the market is giving investors a chance to buy individual stocks now that Wall Street has broken away from the "tyranny of the index funds." "There's been a move to own individual stocks led by younger, often novice investors who've been captivated by a world of commission-free trading," the "Mad Money" host said. "It took me a little while to realize it, but the no-commissions — it's been revolutionary." The comments came after stocks traded lower for the second day in a row, with the Dow and S&P 500 pulling back from record levels as state and local governments put new restrictions in place to mitigate the second wave of the coronavirus and researchers continued to post optimistic results from late-stage vaccine...
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Indians in Kamala Harris’ ancestral home wake up to her victory
2Dec By Desk TeamNo Comments
World

Indians in Kamala Harris’ ancestral home wake up to her victory

THULASENDRAPURAM, India: After rooting for Kamala Harris as President-elect Joe Biden's running mate, people in her small ancestral Indian village woke up on Sunday (Nov 8) morning to the news of her making history. Most of them had gone to sleep by the time Biden clinched the winning threshold of 270 Electoral College votes. "Congratulations Kamala Harris. Pride of our village. Vanakkam (Greetings) America," one female resident wrote in colour powder outside her residence. "We all have been waiting for this day. Congratulations," Aulmozhi Sudhakar, a village councillor, said. The village of Thulasendrapuram, population 350, planned to celebrate Harris' success with singing, dancing and firecrackers at a temple later on Sunday. Already in the morning hours, groups gathered at ...
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