Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
UK Wage Growth Holds at 3.5% as Unemployment Rises 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
Synlait Milk Denies Fonterra, a2 Milk Takeover Talks 
European Stocks Edge Higher as Fed Rate Pause Bets Rise 
J.P. Morgan Upgrades SanDisk, Sets $2,250 Price Target on AI NAND Growth 
Gold Prices Hold Near $4,400 as Fed Rate Hike Bets Fade 
Ferrari Luce EV Sells for Record $40 Million at Charity Auction 
Alphabet Eyes First Australian Dollar Bond as AI Spending Drives Funding Push 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
Foreign U.S. Treasury Holdings Fall as Japan, UK and China Cut Positions 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
Oil Prices Rise as US-Iran Tensions Renew Strait of Hormuz Supply Fears 
US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease 
Nvidia Eyes $3 Billion Investment in SoftBank-Backed AI Data Center 
Add as a preferred source on Google
South Korea’s first Kentucky Fried Chicken (KFC) store located in Jongno, central Seoul, ceased operating Monday due to the pandemic’s impact, which pushed the store’s maintenance cost while keeping customers from outdoor dining.
A spokesperson for KFC Korea said that other than COVID-19, maintenance cost for the store was also high because it was housed in a very old building.
The opening of the Jongno branch in 1984 was deemed newsworthy enough to be reported in the newspapers.
Eventually, it became a favorite meeting place for young people.
The store was featured in the 2013 retro romantic series “Reply 1994” as the venue where the characters had blind dates.
KFC’s decision follows several other retail closures in Jongno, including a Hollys Coffee branch and Giordano store last year.
Jongno and other commercial districts Myeongdong and Itaewon were particularly hit hard by Covid-19 because they attract tourists.
KFC, which runs around 200 stores in Korea, suffered net losses of 2.85 billion won net losses in 2020, up 190 percent from 983.8 million won in 2019.
