U.S debt deluge lifts bond yields to 4-year high, Asia stocks down
Asian stocks slipped and the U.S. dollar advanced on Tuesday, as a deluge of U.S. government debt this week and the specter of inflation and a higher fiscal deficit drove U.S. borrowing costs near four-year highs.
No ordinary fashion statementWALK down the streets of Pyongyang, North Korea’s capital, and at first sight the passers-by look rather uniform. The women are in tidy skirt suits and medium-high heels. The men sport variations on the theme of the jacket and wide trousers preferred by Kim Jong Un, the country’s leader. Government-mandated lapel pins with portraits of one or both of Mr Kim’s predecessors continue to be ubiquitous. But look closer and a wealth of individual variations can be seen, particularly among the women: some bright-coloured lace stitched onto a jacket here, a daringly cut skirt in a sparkling satin material there.Although fashion from China and even from—Kim forbid—South Korea is increasingly making its way to the markets of Pyongyang, many of these flourishes are the work of the city’s own tailors. They may be only a small subset of North Korea’s textile industry—which accounted for around 30% of exports before being hit by sanctions...Continue reading
Yelp is both making it easier to find new businesses and simpler to save and find other companies with a new tool called Collections. Some are generated using artificial intelligence, others by Yelp staff and more by users.
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REPUBLICANS in the House of Representatives had hoped to cut a swathe through the Dodd-Frank act, a titanic set of financial regulations passed in 2010 in the wake of the 2007-09 crisis. The “Financial Choice Act”, drafted last year, would have lessened bureaucratic oversight and relied more on stiff capital requirements. Responsibilities and penalties would have been made clearer and regulators’ discretionary powers would have been reined in. President Donald Trump, who had promised on the campaign trail to “do a number on Dodd-Frank”, was effusive when the House endorsed the Choice Act last year.But the bill approved by the House on May 22nd, and expected soon to be signed into law by Mr Trump, is a distinctly tamer affair. It moves the line between big, systemically risky banks and the rest, set in Dodd-Frank at $50bn in assets, to $250bn. That cuts the number of institutions subjected to stress tests and stricter supervision from 38 to 12. It also eases some restrictions on...Continue reading