Posts tagged with "Asia"

Trump cuts Kim summit short, with no agreement on denuclearization

March 1, 2019

“We are gonna win, win, win. We’re going to win with military, we’re going to win at the borders, we’re going to win with trade, we’re going to win at everything”—has just lost ground in his negotiations with Leader Kim Jong Un of North Korea.

Trump arrived in Vietnam this week entertaining high hopes that he and Kim would strike a deal on denuclearization. Such a pact would have positioned the president firmly in the winners’ circle among global leaders following a long-term standoff with the Asian military state.

But it didn’t happen: The second U.S.-NoKo summit in a year (following a June 2018 meeting in Singapore) ended without any agreement on February 28, The Hill reported.

“Sometimes you have to walk,” Trump said at a press conference in Hanoi, Vietnam. “This was just one of those times.”

Accord to The Hill’s report, Trump said the sticking point was sanctions, which Kim wanted lifted before taking all of the steps towards transparency that the United States was asking of him.

“It was about the sanctions,” Trump said at the media event. “Basically, they wanted the sanctions lifted in their entirety, and we couldn’t do that. They were willing to denuke a large portion of the areas we wanted, but we couldn’t give up all of the sanctions for that.”

Nonetheless, Trump said the summit was “very productive.”

White House press secretary Sarah Huckabee Sanders said in a statement that the two leaders “discussed various ways to advance denuclearization and economic driven concepts.”

“No agreement was reached at this time, but their respective teams look forward to meeting in the future,” she added.

The lack of any tangible results could give fodder to critics who have accused Trump of holding summits with Kim that are nothing more than photo ops that boost the legitimacy of the North Korean dictator, the political news outlet noted.

The summit included a one-on-one meeting and dinner Wednesday night, followed by a one-on-one meeting and meeting with aides Thursday.

Signs that no agreement was within reach became clearer, The Hill reported,  a half-hour after a working lunch was supposed to start when the White House told reporters the summit would end earlier than expected. The schedule originally called for the lunch and a ceremony to sign a joint agreement, both of which were abruptly scrapped.

At the start of Thursday meeting, Kim said he was not “pessimistic” about the ability to reach a deal and that he had a “feeling that good results would come out” of the summit.

The stand-down couldn’t have come on a worse day politically for Trump, whose former “fixer” and personal attorney Michael Cohen took the opportunity to “correct the record” before the House Committee on Oversight and Reform simultaneously with the summit—calling Trump “a racist, a conman, and a thief” during nearly a full day of testimony.

“He was just disbarred by the State Supreme Court for lying & fraud. He did bad things unrelated to Trump. He is lying in order to reduce his prison time. Using Crooked’s lawyer!” Trump tweeted, referring to Cohen adviser Lanny Davis, who once worked for former President Clinton.

Research contact: @rebecca_h_k

UK ‘player’ Hamleys may expand into U.S. toy sector

December 11, 2018

Although Toys R Us has returned as a pop-up store at Kroger for the holidays (and maybe longer), the retailer that used to rule the toy realm is just a shadow of its former self. And, without the industry leading Toys R Us megastores, nationwide, an $11 billion toy industry has been left with no dominant retail player in the sector, reported CNBC on December 10.

Companies like TargetWalmartAmazon and Kohl’s are trying this holiday season to sell more toys to kids and their parents, but the verdict is still out on which company will best fill the void that Toys R Us left behind, the news outlet said.

But now—seeing a huge opportunity— one iconic, international toy retailer could soon make its first move into the States with a flagship location in New York, and plans for a wider rollout of stores to follow. British toy retailer Hamleys is close to finalizing a deal for roughly 30,000 square feet at 2 Herald Square in Manhattan, near Macy’s and Victoria’s Secret, a person familiar with those negotiations told CNBC, requesting anonymity because the talks are confidential. The store is expected to open in 2020, should the deal go through, said the source—cautioning talks are still ongoing between the tenant and landlord and nothing has been finalized.

According to CNBC, Hamleys has been around since 1760 when it opened its first location in England. Today, it has a flagship shop on tourist destination Regent Street in London, in addition to locations all across the Middle East, Asia and Africa. And in North America, Hamleys has three stores in Mexico.

In the United Kingdom, Hamleys’ stores are known to draw kids in for exciting experience, including the opportunity to play with life-size Lego figures. Often, employees dress up as fictional characters to entertain shoppers. This excitement in stores is what many people say the toy industry is now missing in the United States, CNBC reports. And shoppers prefer it to the online experience, where it is impossible to pick up a toy and look at it, or try it.

After an opening in New York, Hamleys would likely mote into other  major markets such as Los Angeles, Chicago, and Miami to open store;  and would consider moving into some of the more profitable malls in the country, said the person familiar with its plans.

Hamleys didn’t immediately respond to CNBC’s request for comment.

Research contact: @laurenthomasx3