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Giving away 70,000 free meals in NYC’s Chinatown changed this bakery manager’s perspective on leadership
World

Giving away 70,000 free meals in NYC’s Chinatown changed this bakery manager’s perspective on leadership

Patrick Mock, general manager of 46 Mott, and volunteers have delivered 70,000 free meals to low-income Chinatown residents in the last year. "There's never an easy day for me," Patrick Mock tells CNBC Make It over the phone as he surfaces from the New York City subway to Manhattan's Chinatown. Mock, 27, grew up in the neighborhood and has been the general manager of 46 Mott, a Cantonese-style bakery, for four years. And in the last year, he's taken up organizing efforts to help save struggling Chinatown businesses while also caring for the neighborhood's most vulnerable residents during the pandemic. He now spends his days running the bakery on top of making sure the meals program he launched last spring — where he hand-delivers free meals to Chinatown's elderly and unhoused — is running...
KL LRT collision: Both trains have been retrieved, track repairs are ongoing, says transport minister
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KL LRT collision: Both trains have been retrieved, track repairs are ongoing, says transport minister

KUALA LUMPUR: The two trains involved in an underground collision along the Kelana Jaya Light Rail Transit (LRT) have been successfully retrieved, said Malaysian Transport Minister Wee Ka Siong in a Facebook post on Thursday (May 27). The minister said he has received a report from Rapid Rail Sdn Bhd’s Recovery Team that the TR40 train had reached the Subang depot at 3.45am, while the TR81 train had reached the Gombak tail track at 4.51am. “Prasarana (the parent company of Rapid Rail) will concentrate track repair efforts between Kampung Baru station and KLCC station. But the recovery team has to power down the entire affected stretch from Dang Wangi station to Damai station, involving five LRT stations along the affected stretch,” Dr Wee said. The recovery of the trains, he noted, ...
China’s factory output, retail sales, investment all miss expectations in May
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China’s factory output, retail sales, investment all miss expectations in May

BEIJING: Growth in China's factory output slowed for a third straight month in May, possibly due to disruptions caused by COVID-19 outbreaks in the country's southern export powerhouse of Guangdong. The Chinese economy has largely shaken off the gloom from the coronavirus-induced slump last year, but officials warn the foundations for the recovery are not yet secure amid challenges including rising raw material prices and global supply chain disruptions, especially a shortage of micro chips. Industrial production grew 8.8per cent in May from a year ago, slower than the 9.8per cent uptick in April, National Bureau of Statistics data showed on Wednesday. That missed a 9.0per cent on-year rise forecast by analysts from a Reuters poll. Most China watchers had expected some moderation i...
Philippines again suspends scrapping of troop pact with US amid China dispute
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Philippines again suspends scrapping of troop pact with US amid China dispute

MANILA/WASHINGTON: The Philippines has again suspended a decision to scrap a crucial agreement governing the US troop presence in the country, its foreign minister said on Monday (Jun 14), amid continuing maritime pressure from China. The Pentagon welcomed the announcement from Manila - the third suspension of the decision covering the two-decade-old Visiting Forces Agreement (VFA) that had been due to expire in August - but analysts said there would be disappointment in both countries that it was not renewed. Philippine Foreign Minister Teodoro Locsin said the suspension would be for a further six months while President Rodrigo Duterte "studies, and both sides further address his concerns regarding, particular aspects of the agreement". The Philippines is a US treaty ally and sever...
Illegal drugs trade goes digital for pandemic
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Illegal drugs trade goes digital for pandemic

Like supermarkets, restaurants and purveyors of sourdough bread, the illegal drugs trade went digital to serve its customers during lockdown, and could stay that way when the COVID-19 pandemic is over, Europe's drugs agency said on Tuesday. LISBON: Like supermarkets, restaurants and purveyors of sourdough bread, the illegal drugs trade went digital to serve its customers during lockdown, and could stay that way when the COVID-19 pandemic is over, Europe's drugs agency said on Tuesday. "The pandemic is pushing drug criminals online, reinforcing a trend," said the European Commissioner for Home Affairs Ylva Johansson during the online launch of the 2021 drugs report put together by the Lisbon-based agency EMCDDA. "Drug dealers are moving from the streets onto social media, taking orde...
This is the median age of billion dollar start-up founders, according to new research
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This is the median age of billion dollar start-up founders, according to new research

With founders like Mark Zuckerberg, Jack Dorsey and Bill Gates, it may seem like billion-dollar start-ups are all started by 20-something college dropouts. But according to the new book, "Super Founders: What Data Reveals About Billion-Dollar Startups," the median age at which founders started their billion-dollar business is 34. The book's author, Ali Tamaseb, a partner at the tech venture capital firm DCVC, says he spent thousands of hours combing through internet archives, interviews and reviewing thousands of LinkedIn and Crunchbase profiles collecting data — 65 different data points, to be exact, like age, education and experience — on every unicorn start-up started between 2005 and 2018. "It took about four years," Tamaseb tells CNBC Make It. Tamaseb says he collected over 30,000...
Japan’s factory output rose in April on overseas demand for capital goods
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Japan’s factory output rose in April on overseas demand for capital goods

Japan's industrial output extended gains in April as manufacturers benefited from a recovery in appetite for capital goods, especially in key overseas markets. The world's third-largest economy is expected to grow in the current quarter at a much slower pace than previously thought, after the government extended COVID-19 emergency measures in Tokyo and other major areas. Separate data on Monday showed that retail sales, a key gauge of consumer spending, surged in April, thanks largely to favorable statistical base effects from a year earlier, when the country was under even stricter COVID-19 curbs. Official data released Monday showed factory output grew 2.5% from the previous month in April, as higher production of general-purpose and electrical machinery offset a contraction in cars a...
Singapore’s core inflation positive for third consecutive month in April
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Singapore’s core inflation positive for third consecutive month in April

SINGAPORE: Consumer prices in Singapore rose in April, driven by smaller declines in electricity and gas costs, as well as retail and other goods, data showed on Monday (May 24). This is the third straight month that Singapore's core inflation has remained positive. Core inflation rose 0.6 per cent year-on-year in April, an increase from 0.5 per cent in March, according to data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI). The headline consumer price index (CPI), or overall inflation, rose to 2.1 per cent in April, from 1.3 per cent in March, driven by higher private transport and accommodation costs as well as an increase in core inflation. Core inflation excludes the price of private transport and accommodation. "The increase in both ...
COVID-19 pandemic relapse spells trouble for India’s middle class
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COVID-19 pandemic relapse spells trouble for India’s middle class

NEW DELHI: Ram Babu moved from his village to the Indian capital New Delhi in 1980, to clean cars. Soon, he learned to drive and got a job as a tour bus driver. Decades later, he set up his own company, Madhubani Tours and Travels. In March 2020, a stringent nationwide lockdown to fight the coronavirus pandemic froze economic activity overnight. Babu's business collapsed, and he drove his family back to their village. “Since March last year, we haven’t earned a single rupee,” he said. “All of my three buses are standing still for more than a year. We are completely broken.” India’s economy was on the cusp of recovery from the first pandemic shock when a new wave of infections swept the country, infecting millions, killing hundreds of thousands and forcing many people to stay home. C...
India’s factory activity growth slipped in May as demand fell – PMI
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India’s factory activity growth slipped in May as demand fell – PMI

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. REUTERS: India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. Although daily infection rates have started falling in the past few days there are concerns about underreporting of cases due to a dearth of testing in rural areas. India has already reported around 28 million coronavirus cases and over 300,000 deaths, leading many states to impose restrictions affecting economic activity. The Nikk...