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    LeBron James’ business partner Rich Paul unveils new sportswear brand with New Balance

    Rich Paul, the sports agent who represents LeBron James, is launching a new sportswear brand with New Balance.
    Klutch Athletics says its mission is to provide all athletes with high-quality training apparel and empower them throughout their sports journey.
    For New Balance, the partnership offers a fresh new angle in combining sports and culture.

    Klutch Athletics will support and serve athletes throughout their athletic journey including youth, collegiate and professional sports
    Courtesy: Clutch Athletics

    Rich Paul, the sports agent who represents LeBron James, is launching a new sportswear brand with New Balance.
    The new brand will be called Klutch Athletics, and the company says its mission is to provide all athletes with high-quality training apparel and empower them throughout their sports journey.

    Paul said his goal was to create training products that are both functional and stylish.
    “There’s a gap right now that we can fill,” Paul said in a news release. “We’ve seen other brands moving away from youth sports and training, so we’re focused on bringing the new look of training for the next generation.”
    The apparel will range in price from $40 for T-shirts to $120 for hoodies. Items will hit select store shelves and be available online beginning April 27.
    For New Balance, the partnership offers a fresh new angle in combining sports and culture.
    “Rich has deep cultural roots in the world of sport and together we will realize a vision that has yet to be seen by the modern-day athlete. We always strive to take a differentiated approach — this partnership truly exemplifies our independent mindset as a brand,” said Chris Davis, New Balance chief marketing officer.

    The Boston-based footwear and apparel brand has seen a resurgence of late, with Foot Locker CEO Mary Dillon calling out the brand’s momentum on her company’s earnings call in November. New Balance sales were up 70% for the sneaker store during the third quarter, Dillon said.

    Klutch Athletics Will Launch its First Collection this Spring
    Courtesy: Klutch Athletics

    Paul, who has been named one of the most powerful sports agents by Forbes, founded the Klutch Sports Group in 2012.
    His relationship with NBA superstar James dates back to a random airport run-in more than 20 years ago, when the two men bonded over a Warren Moon jersey. The relationship deepened over the years, and Paul quickly became part of James’ inner circle and his sports agent. Earlier this year, the two invested in Fanatics’ lifestyle brand Mitchell & Ness.
    But it’s unlikely James will sport Klutch Athletic clothing: James signed a lifetime deal with Nike in 2015, which would prevent him from wearing competitors’ brands.

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    Mortgage demand drops as interest rates bounce higher

    Total mortgage application volume fell 7.7% last week as mortgage rates jumped higher.
    The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.39% last week from 6.18% the previous week.
    Applications to refinance a home loan dropped 13% for the week and were 76% lower than the same week one year ago.

    A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida.
    Joe Raedle | Getty Images

    After falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand.
    Total mortgage application volume fell 7.7% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

    The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.39% from 6.18%, with points rising to 0.70 from 0.64 (including the origination fee) for loans with a 20% down payment. The rate was 4.05% one year ago.
    “Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time,” said Joel Kan, MBA’s vice president and deputy chief economist.
    Applications to refinance a home loan dropped 13% for the week and were 76% lower than the same week one year ago. At the current rate, 100,000 fewer borrowers can benefit from a refinance compared with just one week ago, according to data from Black Knight. A year ago, with mortgage rates at 4.05%, there were just under 4 million refinance candidates.
    Mortgage applications to purchase a home fell 6% for the week and were 43% lower than the same week a year ago. Real estate agents across the country are reporting a jump in buyer demand in the past few weeks, perhaps indicating an early start to the historically busy spring market.
    “I actually thought, my God, this is amazing. Look at how fast it turned on a dime,” said Dana Rice, a real estate agent with Compass, who was running a busy open house in Bethesda, Maryland, on Saturday. “We went from no showings and nobody coming to open houses, that every single thing that I’ve launched in the last couple of weeks has had multiple offers.”

    There is, however, an abnormally high level of all-cash buyers in the market. Peter Fang is one of them. He was at the open house.
    “I’m very surprised to see so many cash offers in the market. I thought I would be at a much better position but the competition is still there,” Fang said.
    Mortgage rates continued to move up this week after a government report on inflation showed it was higher than expected in January.

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    5 things to know before the stock market opens Wednesday

    5 Things to Know

    Tesla opens its EV charging network in a deal with the White House.
    Ford halts production of its F-150 Lightning EV pickup over a possible battery problem.
    Goldman Sachs scraps plans for a branded consumer credit card.

    Traders work on the floor of the New York Stock Exchange (NYSE) on February 14, 2023 in New York City. 
    Spencer Platt | Getty Images

    Here are the most important news items that investors need to start their trading day:

    1. Got to get over the hump

    We’ve hit the midpoint of a murky week for stocks. The Dow and the S&P 500 slipped Tuesday after the government’s consumer price index for January showed hotter-than-expected inflation. The Nasdaq, however, finished the session in the green. Even though the inflation print came in higher than economists’ estimates, Wall Street seemed to take it in stride as it still showed the pace of price increases slowing down. Wednesday brings more data, including indicators from the housing market, as well as another handful of corporate earnings reports, including Kraft Heinz before the open and Cisco after the bell. Follow live markets updates.

    2. Tesla opens its charging network

    Tesla Super Charger
    Courtesy: Tesla

    In a rare moment of accord between the Biden administration and Elon Musk’s electric vehicle empire, Tesla agreed to open up thousands of its charging stations to EVs made by other companies, according to the White House. Tesla and other companies that build and operate charging networks are also in line to win federal funding if their charging infrastructure lives up to government standards. Tesla agreed to make at least 7,500 chargers in the U.S. available for any compatible EV by the end of next year. That includes 3,500 of the company’s Superchargers that are located on major highways in addition to slower Level 2 destination chargers that Tesla provides at restaurants and hotels, among other locations.

    3. Ford’s battery bust

    Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC).
    Michael Wayland | CNBC

    It’s not all good news in the world of EV batteries, though. Ford halted production and shipments of its flagship F-150 Lightning pickup over a possible issue with its batteries. The company did not disclose too many details about the potential problem, which came to light during pre-delivery quality inspections. It’s the latest difficulty facing Ford. Earlier this month, the company posted ugly fourth-quarter results and a net loss for 2022, as it copped to execution problems. Ford is looking to cut costs this year as it seeks a turnaround with EV competition heating up.

    4. Goldman continues consumer retreat

    David Solomon, Chairman & CEO of Goldman Sachs, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 23rd, 2023. 
    Adam Galica | CNBC

    Goldman Sachs is giving up on plans for a branded credit card, CNBC’s Hugh Son reported Tuesday, as the Wall Street powerhouse continues to dismantle its consumer-banking strategy. Goldman CEO David Solomon has been moving away from his previous intention to turn the company into a bank for the people since losses started to pile up and consumers started facing inflation and other economic headwinds. Goldman in October split its retail operations. Later, the company said it would close its Marcus personal loans business and give up on offering a checking account to a broad customer base. With all of this happening, it just didn’t make sense to launch a consumer credit card anymore.

    5. That tricky housing market

    A ‘For Sale’ sign is posted in front of a single family home on October 27, 2022 in Hollywood, Florida.
    Joe Raedle | Getty Images

    If you want a fresh example of just how sensitive the economy is to shifts in interest rates, look no further than Wednesday’s mortgage demand report. Total mortgage application volume fell 7.7% last week, according to the Mortgage Bankers Association, as the popular 30-year fixed rate rose to 6.39% from 6.18%. Refinance applications fell 13% week over week, while applications to purchase a home were down 6%. “Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time,” said Joel Kan, a top economist for the MBA.
    – CNBC’s Hakyung Kim, Lora Kolodny, John Rosevear, Michael Wayland, Hugh Son and Diana Olick contributed to this report.
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    Chipotle Mexican Grill to launch new spinoff, Farmesa Fresh Eatery, in a ghost kitchen

    Chipotle Mexican Grill is opening a new brand called Farmesa Fresh Eatery in a Santa Monica ghost kitchen.
    Farmesa marks Chipotle’s first spinoff attempt during CEO Brian Niccol’s tenure and will have a soft opening in late February.
    The brand’s bowls will feature a protein, green or grain, two sides, one of five sauces and a topping option. Prices will range from $11.95 to $16.95.

    Chipotle is launching Farmesa Fresh Eatery first at Kitchen United’s upcoming Santa Monica location.
    Source: Chipotle Mexican Grill

    Chipotle Mexican Grill is launching a new spinoff, called Farmesa Fresh Eatery, in a California ghost kitchen.
    It’s the latest attempt by the burrito chain to branch out into new cuisines. Its past spinoffs — Asian ShopHouse and Tasty Made — occurred under founder Steve Ells’ leadership and were shut down by 2017. The company also invested in Pizzeria Locale.

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    Farmesa marks the first such experiment during CEO Brian Niccol’s tenure, and the company is taking a more measured approach this time around, leaning on its tried-and-true customizable bowls.
    The brand will have a soft opening in late February with a limited menu and shorter hours before its official launch in March.
    Farmesa’s bowls will feature a protein, green or grain, two sides, one of five sauces and a topping option. Prices will range from $11.95 to $16.95. The brand’s name is a portmanteau of “farm” and “mesa,” the Spanish word for table, in an attempt to communicate its farm-to-table approach.
    The full menu, created by Farmesa’s director of culinary innovation, chef Nate Appleman, will include whipped potatoes, golden beets and everything spice-crusted Ora King salmon. Appleman, who won a James Beard award in 2009, previously helped Chipotle add to its sparse menu in the 2000s.
    Chipotle isn’t planning on using its own branding much for Farmesa. Nate Lawton, Chipotle’s vice president of new ventures and the architect behind the spinoff, said the company will initially introduce it to customers as a new brand from Chipotle. And, “when the time is right,” Lawton said, Chipotle will use its loyalty program database to attract potential Farmesa customers.

    Customers will be able to order Farmesa at the upcoming location at Kitchen United Mix on 3rd Street in Santa Monica, California, or for pickup or delivery through third-party delivery apps, like DoorDash and UberEats. When opened, the Santa Monica location will be Kitchen United’s 24th ghost kitchen.
    Ghost kitchens, which are also known as cloud or dark kitchens, allow restaurants to prepare food solely for delivery. Startups like Kitchen United, which had raised $175 million as of late July, house multiple restaurant brands within one location and tout their models as more efficient since they lower labor and rent costs for eateries.
    For Chipotle, Kitchen United’s model allows the restaurant chain to test out the new brand with reduced risk.
    “We’ve really tried to build in a local, low-cost, flexible and fast way to learn, which I think was one of the key learnings we took away from our past work,” said Lawton, who joined Chipotle last year after two decades at Procter & Gamble.
    Farmesa can easily tweak its menu based on customer feedback, and Kitchen United will handle expediting orders and dealing with customers, leaving the brand to focus on learning as much as it can. Lawton said the initial location is meant to understand what customers do and don’t want and the economics of the new brand.
    And while Chipotle executives noted earlier this month that delivery sales fell 15% in the fourth quarter compared with the year-earlier period, Lawton said Santa Monica consumers order delivery nine times more often than the national average, another factor that made Kitchen United attractive for the company.
    For now, Chipotle’s chief purpose with the location is simply to learn, but that doesn’t mean Farmesa won’t grow.
    Lawton said there’s a “variety of ways” that the company could move forward with the new brand, although it plans to keep it separate from Chipotle restaurants.
    “While one location does not beget a chain, we think the Farmesa Fresh Eatery brand does signal the company sees an opportunity to grow beyond its core concept utilizing many of attributes of the Chipotle brand (e.g., simple menu, ‘real’ ingredients, easy operations),” Citi Research analyst Jon Tower wrote in a Jan. 24 note to clients before Chipotle officially announced Farmesa’s launch.

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    Tesla commits to open 7,500 chargers in the U.S. to other electric vehicles by end of 2024

    The Biden administration wants at least 500,000 publicly accessible electric vehicle chargers on US roads by 2030.
    Now, companies that build and operate charging networks — including Tesla, GM, Ford, ChargePoint and others — stand to reap the rewards of federal funding if they meet new requirements.
    White House officials announced that Tesla will open up 7,500 of its charging stations by the end of 2024 to non-Tesla EV drivers. Previously the company’s chargers in the U.S. were mostly used by and made to be compatible with Tesla EVs only.

    A Tesla, Inc. electric vehicle charges at supercharger location in Hawthorne, California, on August 9, 2022.
    Patrick T. Fallon | AFP | Getty Images

    The Biden administration wants to see at least 500,000 electric vehicle chargers on US roads by 2030, and announced a slate of initiatives on Wednesday to help make that a reality, including commitments from companies that build and operate charging networks like Tesla, GM, Ford, ChargePoint and others.
    All of the companies stand to reap the benefits of federal funding if their planned charging infrastructure projects meet new federal standards, which were also revealed on Wednesday.

    As part of this effort, White House officials said, they locked a commitment from Tesla to open thousands of its chargers to electric vehicles made by other manufacturers. Until now in the US, Tesla Supercharging stations have been accessible primarily to drivers of the company’s own cars.
    Tesla specifically agreed to make at least 7,500 of its publicly accessible chargers in the US available for use by any compatible EV by the end of 2024. That total will include at least 3,500 of Tesla’s 250-kilowatt Superchargers located along key highway corridors, as well as the slower Level 2 destination chargers that the automaker provides at locations like hotels and restaurants, the officials said.
    Tesla also agreed to triple the number of Superchargers in its U.S. network, with new chargers that will be made in Buffalo, NY, the official said. The company has been assembling some of its charging equipment at a facility in Buffalo that was originally intended as a solar panel factory.
    Tesla has intended to open up its charging network in the US for years. According to Tesla’s most recent annual financial filing, in November 2021 the company “began to offer Supercharger access to non-Tesla vehicles in certain locations in support of our mission to accelerate the world’s transition to sustainable energy.”
    White House infrastructure chief Mitch Landrieu told reporters on Tuesday that Musk was one of many automotive sector CEOs involved in discussions with the White House about charging infrastructure last year.

    “He was very open, he was very constructive,” Landrieu said. “And at that time, he said his intent was to work with us to make his network interoperable. Everybody else on the call agreed.”
    Landrieu added, “It was critically important to us that everybody be included in the conversation.”
    The White House also lauded other automakers and companies, praising a separate deal between General Motors, Pilot Company, and charging network EVGo to install 2,000 fast chargers at Pilot and Flying J centers along U.S. highways.
    GM via a separate partnership with FLO, also plans to install up to 40,000 public Level 2 EV chargers in US communities by 2026, which will become part of GM’s Ultium Charge 360 network, and be available to all EV drivers.
    Ford has committed to installing DC Fast chargers at 1,920 of the company’s dealerships by January 2024.
    Hertz and oil giant BP’s EV charging unit plan to install thousands of chargers in major U.S. cities for use by Hertz customers and the general public.  
    Among Wednesday’s announcements, the Departments of Energy and Transportation also revealed new charging standards that “ensure everyone can use the network – no matter what car you drive or what state you charge in.” Among the requirements:

    All new chargers built with federal funds must support the Combined Charging System (CCS) plug standard. The CCS standard is used by most automakers other than Tesla.
    New charging sites built with federal funds will be required to have a minimum number of DC Fast chargers.
    Federally funded chargers must be up and running at least 97% of the time once installed.  
    Effective immediately, all federally-funded chargers must be assembled in the U.S., and their steel enclosures must be made in the U.S. By July 2024, at least 55% of the chargers’ components (measured by cost) must be made in the U.S. as well.
    New chargers built with federal funds to be compatible with new user-friendly technologies like “Plug and Charge”, which – as the name suggests — automates the process of paying for the charge.

    There are also new rules to help ensure that drivers don’t have to use multiple apps to find and use chargers, by making data on charger locations, pricing, and availability public and available via mapping applications.  
    But in one omission that will raise questions from staunch environmentalists, the new federally funded EV chargers will not necessarily be powered by clean energy sources.
    Officials said it will be “company dependent” whether EV chargers that are federally funded are powered by renewables or “clean electricity,” or simply connected to the existing electrical grid.
    Transportation has been responsible for 25% of carbon emissions from human activity globally, according to estimates by the non-profit International Council on Clean Transportation. Much of that pollution comes from tailpipe emissions, but charging with electricity from clean or renewable sources increases the climate benefits of switching to an electric vehicle.
    According to environmental impact research by Project Drawdown, compared to gasoline-powered vehicles, emissions drop by 50% when an electric vehicle’s power is drawn from the conventional grid. When powered by solar energy, carbon dioxide emissions from an electric vehicle fall by 95% versus a comparable internal combustion engine vehicle that burns gasoline.
    Officials did suggest it will all work out in the long run, however. During the briefing, Energy Secretary Jennifer Granholm emphasized that the President’s goal is to get to a “fully clean electric grid” by 2035.

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    Seen Big Ben already? Here’s a Londoner’s guide to visiting other parts of the city

    When I travel, I like to try to experience a city in a local way.
    So when I stayed in Downtown Vegas — more traditional and less flashy than “The Strip” — I went to yoga classes and coffee shops in residential areas. And when I went to Kerala, India, I chose a homestay in the city of Kochi over a name-brand hotel.

    The joy of living like a local comes from a slower pace of vacation, where I don’t feel like a tourist checking off a list. It gives me a truer sense of a place.
    Having been born and raised in London, I know many places — from parks and restaurants to cafes and architectural sites — that a visitor might not seek out straight away. Some treasures are literally underground.
    And I have my favorite ways of seeing some of the city’s main attractions too.

    Central London

    London is split into multiple locally governed areas. Central London’s City of Westminster is its political heart, while the City of London is where the capital’s financial decisions happen.
    The City of Westminster is home to:

    the Palace of Westminster, also known as the “Houses of Parliament”
    the majority of London’s theaters, around Soho and Covent Garden, an area known as the “West End”
    Mayfair, where you could easily spend the cost of your airfare on a night out
    some of London’s best green spaces, like Regent’s Park and Hyde Park

    London’s Hyde Park is a great spot for walking or picnicking, but cyclists should stick to marked paths.
    Andrew Holt | The Image Bank | Getty Images

    One of my favorite things to do here is cycle. Bikes for hire are available from Santander Cycles, near Lancaster Gate Underground station just north of Hyde Park (download the program’s app for pick-up and drop-off locations). There are several cycle paths around Hyde Park that take in sights like Kensington Palace, the official residence of The Prince and Princess of Wales, and “The Serpentine” — a lake toward the south of the park.
    But be warned: Several paths across Hyde Park are pedestrian-only, and police often fine people who cycle on them.
    Hyde Park connects to Green Park via a busy intersection that has traffic signals for cyclists. After crossing the street and cycling along Constitution Hill, you’ll reach Buckingham Palace. On a warm day, I might carry on cycling into St James’s Park, just opposite the palace, and have lunch at its roof-terrace café.

    The City of London is a blend of old and new, with St Paul’s Cathedral close to skyscrapers as well as Roman ruins.
    Shomos Uddin | Moment | Getty Images

    The City of London (often referred to as “the City”), juxtaposes shiny glass and steel towers and residential blocks built in the 1960s with traditional pubs and the ruins of the ancient Roman city of Londinium. The Bank of England is a short walk from St Paul’s Cathedral, the huge, domed church designed by Sir Christopher Wren in the late 17th century.
    I prefer to walk around this area. A weekday visit at lunchtime shows the hustle of the place as workers pile out of their offices for a quick meal.
    Postman’s Park, though tiny, is a popular spot for a sandwich, with its Memorial to Heroic Self-Sacrifice, a series of tablets dedicated to ordinary people who died saving others. Close by, Christchurch Greyfriars Church Garden is set in the ruins of an 18th-century church and is worth seeing for the flowerbeds contrasting with the remains of the church walls. For a traditional pub, try The Cockpit, a quirky bar on St. Andrew’s Hill, a backstreet near St Paul’s Cathedral.

    Christchurch Greyfriars in the City of London. The church was badly damaged in World War II and a garden was created in its remains in 1989.
    Chrisdorney | Istock | Getty Images

    St Paul’s may be the best-known monument in the area, but it’s also fascinating to get beneath the City’s streets — literally — to see part of London’s Roman history. The roughly 2,000-year-old Billingsgate Roman House and Baths sit below an uninspiring office block. Easy to miss, there are few surface-level clues to the remnants below, which can be accessed by guided tours on Saturdays from April to November.

    North London

    I was raised close to one of London’s largest parks, Hampstead Heath. “The Heath” — as locals call it — is hilly and wild, and it’s easy (and fun) to get a bit lost in it. The views from the top of Parliament Hill are a great way to orient yourself in the city, and the park’s historical Kenwood House has an art gallery that’s free to enter.
    Hampstead Heath station, on the London Overground train line, is at the Heath’s southwest tip, and on a sunny weekend in any season you’ll find the nearby street packed with Londoners getting coffee before hiking the Heath. A top spot is the independently owned Karma Bread. My favorite treat there is the cardamom bun, or shakshuka for breakfast.

    Parliament Hill Lido, an unheated outdoor swimming pool on Hampstead Heath, was opened in 1938 and is accessible every day of the year.
    Hollie Adams | Getty Images News | Getty Images

    At the southeast tip of Hampstead Heath is the 1930s-built Parliament Hill Lido, an unheated outdoor swimming pool that is a classic local delight on a hot day. It’s open all year round and facilities are basic: expect to drape your towel on the concrete pavement around the pool. Its website has schedules, pricing and reservation information.
    Also in north London is the Parkland Walk, another good spot for a hike or a run through the woods along an old railway line. It’s pretty during the spring when tall cow parsley grows along the path. A 2.5-mile walk east gets you to Finsbury Park, and close to the Faltering Fullback pub, a rambling place with live music twice a week (check its website for details).

    The Parkland Walk follows the course of the old railway that ran between Finsbury Park and Alexandra Palace in north London.
    Sam Mellish | In Pictures | Getty Images

    The Parkland Walk makes up a section of the Capital Ring, a 78-mile signposted hiking route that circumnavigates London — through suburbs, along canals, via green spaces and even past a palace. It’s divided into 15 sections, all accessible via the London Underground and detailed on a free app.

    East London

    The Queen Elizabeth Olympic Park, built to host the 2012 Summer Olympic Games, is in the east London area of Stratford (as well as Section 14 of the Capital Ring route). The area is a good example of London’s blend of old and new, urban and natural, with a giant shopping mall, called Westfield Stratford City, alongside the River Lea. Victorian terraced houses are but a short distance from modern, high-rise apartments.
    The main Olympics stadium, known as London Stadium, is now home to soccer team West Ham United. It also hosts concerts and other sporting events including Major League Baseball. You can cycle in the former Olympic Velodrome or on a BMX track, or head to the ArcelorMittal Orbit, a curious-looking twisted red metal sculpture that doubles as a tunnel slide.

    Columbia Road in east London has been home to a market since 1869, when philanthropist Angela Burdett-Coutts started a food market. Now, flowers and plants are sold on the street on Sundays.
    Isabel Infantes | Afp | Getty Images

    One of my favorite things to do in east London is eat. Shoreditch — a central area just north of the City – is packed with great restaurants, from popular Indian chain Dishoom (reserve a table for lunch, or get there early for dinner and wait in line) to unfussy fine dining places like Lyle’s, which uses British meat, fish and vegetables.
    Rochelle Canteen is an unpretentious place in a former bike shed where good produce is the star. It also has a walled garden, making it a good respite from the busy city streets.
    Also in the area is Columbia Road Flower Market, open on Sundays from 8 a.m. Londoners head there to stock up on cut flowers and house plants. You might get a bargain during the final couple of hours (around 1 p.m. to 3 p.m.), and there are plenty of independent jewelry, homeware and gift stores along the street too.

    South London

    There’s a bit of friendly competition between north and south Londoners, who each claim their area is best and joke about the hardship of having to travel to the opposite side of the River Thames.
    While north London has Hampstead Heath, south of the river is Richmond Park, which dwarfs its northern counterpart in size. Plus, the park is in the county of Surrey, so it isn’t technically in London.
    Still, you could easily spend a day spotting deer in its fields and exploring the beautiful garden toward its southern tip, the Isabella Plantation. For views across the Thames, head toward Pembroke Lodge in the west of the park, and on a weekend you’ll see Lycra-clad cyclists whizzing through the park and at its cafes.

    There are more than 600 red and fallow deer in Richmond Park, which has been home to the animals since the 17th century.
    Ray Wise | Moment | Getty Images

    If you’re looking for something traditionally English, try Petersham Nurseries Cafe, just outside Richmond Park. It has a Garden Afternoon Tea on Fridays and weekends (reservations are essential) that includes dainty sandwiches and mini savory tarts followed by sweet treats, such as buttermilk scones and plum cheesecake. It also accepts walk-ins for brunch or lunch every day except Monday, when it’s closed.
    There’s also a branch in central London’s Covent Garden — the flower-filled restaurant The Petersham — that has an sit-down deli and bar.

    West London

    In west London, I recommend checking out Notting Hill’s street market and restaurants. Portobello Road Market is open every day and sells food, vintage fashion and antiques. A good day to go is Friday, when most of the stalls and areas are open and it’s less busy than Saturday, when locals head there.
    French bistro Buvette, on Blenheim Crescent, is a good all-day food option — an outpost of the Manhattan original by chef Jody Williams. For a luxe movie experience try the Electric Cinema on Portobello Road, a restored Edwardian picture house with a classic diner next door.

    The residential Trellick Tower, as seen from Golborne Road in west London, was built in the 1970s and is a “listed” building, meaning it has protected status because of its architectural significance.
    Jack Taylor | Getty Images News | Getty Images

    Portobello Road meets Golborne Road at its northern end, a quieter and less touristy street where you’ll find traditional Portuguese pastel de nata custard tarts at Lisboa Patisserie. If you look up you’ll see Trellick Tower, a residential block designed in the Brutalist architectural style by Erno Goldfinger.
    Close to the base of the tower is Rellik, a hip vintage fashion store selling clothes from the likes of Alexander McQueen, Vivienne Westwood and Issey Miyake.
    Just beyond Rellik is a small grassy area that backs onto the Regent’s Canal, a waterway you can walk along to reach Little Venice. Further east toward Paddington Basin, there is a redeveloped area with waterside bars and restaurants, in yet another example of London’s eclectic blend of old and new.
    Correction: This story was updated to reflect the correct spelling of the Indian city of Kochi. More

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    Boeing orders, deliveries slip in January, before massive Air India jetliner sale

    Boeing delivered 38 jetliners in January and netted orders for 16 planes.
    The manufacturer has been hesitant to ramp up production before stabilizing its supply chain.
    The report reflects the month before Air India formalized an order for close to 500 planes from Boeing and its chief rival, Airbus.

    A Boeing 737 MAX 10 airliner pauses while taxiing on the flight line before its first flight at Renton Municipal Airport on June 18, 2021 in Renton, Washington.
    Stephen Brashear | Getty Images

    Boeing’s aircraft orders and deliveries slipped in January from a month earlier.
    Boeing delivered 38 jetliners last month, 35 of them its bestselling 737 Max planes, down from a total of 69 planes in December. The delivery count was still was higher than the 32 planes Boeing handed over to customers in January 2022.

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    The figures don’t include a massive order from Air India for nearly 500 new planes from the manufacturer and its chief rival, Airbus, which was formalized earlier Tuesday.
    Air India ordered at least 220 Boeing planes and 250 Airbus planes, making the combined sale the biggest aircraft order ever as airlines prepare for a further recovery in air travel as Covid pandemic travel concerns wane.

    Last month, Boeing said it planned to ramp up output of its 737 Max to 50 planes a month in 2025 or 2026, though it’s been cautious about increases beyond the current pace of 31 per month because of instability in the supply chain.
    The company logged 55 gross orders in January, netting orders for 16 new planes after 39 cancellations.
    Boeing’s CFO, Brian West, will brief analysts and investors during a Cowen industry conference on Wednesday morning.

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    The US, China spy balloon tensions are drifting into politics of the supply chain

    State of Freight

    Leading retail trade associations and their member companies are closely watching the rising tensions between the U.S. China over the alleged spy balloons and see it as another reason to diversify manufacturing.
    Tariffs imposed by Biden and Trump, as well as the “Zero Covid” policy in China, were already spurring a migration away from China manufacturing and to countries including Vietnam and the Philippines.
    The revised NAFTA agreement known as UMCSA is also leading to new opportunities to reshore in the U.S., Canada and Mexico.

    The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. 
    Randall Hill | Reuters

    The tensions between the U.S. and China over alleged spy balloons shot down over North America have some of the top trade associations representing companies reliant on Chinese manufacturing to urge their members to diversify their supply chains.
    The National Retail Federation, the American Footwear and Apparel Association, and the Council of Supply Chain Management Professionals tell CNBC that the rising tensions with China due to the spy balloons have resulted in new concerns from their member companies, already dealing in recent years with tariffs imposed by President Donald Trump and President Joe Biden, and Covid shutdowns under the “Zero Covid” policy.

    “The ongoing tensions with the U.S.-China trade relationship continue to highlight the need for supply chain diversification,” said Jon Gold, vice president of supply chain and customs policy of the National Retail Federation. “From the tariffs to Covid-19 to additional challenges, retailers are looking for opportunities to diversify their sourcing to ensure they have resilient supply chains to meet consumer needs.”
    Mark Baxa, president and CEO of the Council of Supply Chain Management Professionals, told CNBC that the trade group’s members have been pursuing redundancies in their supply chain since the start of tariffs as a way to offset the risk of ongoing trade policy tensions.
    The latest data shows a significant move of manufacturing to countries including Vietnam and the Philippines. Many companies are also leaning into the revised NAFTA agreement, UMSCA, as a way to bring more manufacturting back to North America.
    “We’ve seen an accelerated pace where members are seeking capacity within the context of the benefits the USMCA agreement offers,” Baxa said. “Supply chain leaders are seeking lower risk and a better means to serve the U.S. by looking and moving to Canada and Mexico. Other reshoring actions we are seeing others taking are alternative countries like the EU, Vietnam, South Korea, and India. Some are bringing the work right here to the U.S.”
    These moves are not made lightly, Baxa said, with a number of key criteria on the list of what supply chain managers review when evaluating a manufacturing geography change. The availability of technology and a capable workforce, infrastructure, reliability, and quality are the top “must-haves,” he said.

    Steve Lamar, CEO of the American Apparel and Footwear Association, said the bar to leave China is high because the country remains an important trade partner for a variety of reasons, ranging from access to materials and products to skill sets. While the new tensions reinforce the reasons to consider diversifying the supply chain, he doesn’t think they will make the migration occur any more rapidly.
    “I don’t think the events over the last week accelerate trends, which have been underway for some time and are only moving as fast as policies, skill sets, capabilities, materials, etc., will allow them,” Lamar said. “Rather, they perhaps put an exclamation point on them, reminding folks of the geopolitical tensions that are already self-evident.”
    The biggest example of all when it comes to China manufacturing risk is the market’s largest company, Apple, which in recent years has begun to move some manufacturing, including to India. But the “stumbling blocks” that can result from these efforts has become evident in quality problems with Apple’s initial India-based manufacturing, according to a new report from the FT.
    Another reason for the reluctance to move out of China is direct consumer access.
    “Selling into the Chinese market requires a certain amount of local presence,” Lamar said.
    The ongoing challenge amid multiple crises, Gold said, is time.
    “It takes time to diversify your supply chain,” he said. “You need to make sure the new vendors can meet all the retailer’s requirements and any testing required by law, as well as ensure that the right workforce and logistics exist to meet those needs.” More