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☆ McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies grow more than a thousand-fold
▼ + stars: | 2023-11-04 | by ( Em Steck | ) edition.cnn.com time to read: +5 min

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. I held deep reservations about Bridgewater’s exposure to the moral and patriotic hazards of doing business in China,” McCormick said in September 2023 before officially launching his campaign. That amounts to a 108,000% increase in Chinese holdings over a five-year period. In 2017, Bridgewater reported investing in just one US exchange traded Chinese company; by the final quarter of 2021, its holdings included 47 Chinese companies. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

Persons: David McCormick’s, McCormick, ” McCormick, Hugh Hewitt’s, CNN’s KFile, Bush, Mehmet Oz, Oz, Democrat John Fetterman, Bridgewater, Elizabeth Gregory, “, he’s, Ray Dalio –, thievery ”, ” Organizations: New, New York CNN, US, CNN, CCP, Bridgewater Associates, US Securities and Exchange, Bridgewater, Republican Party, Republican, Democrat, Chinese Communist Party, US Commerce Department Locations: New York, Pennsylvania, hardliner, China, McCormick’s, United States, Xinjiang, ”

☆ The farming industry is struggling with labor shortages and the climate crisis. But agtech like digital cow collars and AI-quality-control tools are solving problems in unexpected ways.
▼ + stars: | 2023-09-13 | by ( Sabina Wex | ) www.businessinsider.com time to read: +9 min

Still, there are concerns about who owns the farm data and how it's being used. Chemeres said that he saw agriculture tech companies bombard farmers with innovations to mitigate this labor shortage. He believes the future of agriculture tech will be "almost surgical," he said, especially as AI comes into the field and becomes more sophisticated. These concerns came to a head in 2020, when Climate FieldView was accused of sharing farmers' data with Tillable, a platform that connects landowners with farmers. Not all tech companies do this.

Persons: Andy Lenkaitis, Lenkaitis Holsteins, Sarah Lenkaitis, Sarah, Lenkaitis, Bill Oemichen, Jeff Chemeres, Chemeres, Croptracker, Oemichen, that's, Bayer, FieldView, it's Organizations: Service, McKinsey, Credit Services, Data, Services, US Department of, The National Young Farmers Coalition, University of Wisconsin Survey Center, University of Saskatchewan, Bayer, US Locations: Wall, Silicon, Charles , Illinois, Minnesota, California, Washington, German

☆ Hedge funds drop short trades on U.S. regional banks - Goldman
▼ + stars: | 2023-09-04 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The ratio of long trades compared with short positions on U.S. regional banks has risen by 26% since a year low in mid-July 2023, when traders were mostly short the sector, the bank said. An index of U.S. regional bank stocks (.SPLRCBNKS) has recovered roughly 20% of its value from a two-year low hit in May following the failure of Silicon Valley Bank (SIVBV.UL), Signature Bank (SBNY.PK) and First Republic (FRCB.PK). Reuters GraphicsShort positions on larger U.S. banks have also declined since mid-July, with hedge fund long positions rising about 14% against short bets, the Goldman note showed. Most of the stock buying on U.S. regional banks comprised of hedge funds buying back stock that was borrowed for the purpose of short bets, or so-called short covering, Goldman said. Across broader U.S. financial services, hedge funds finished August with net long positions, the note said.

Persons: Lee Jae, Goldman Sachs, Janet Yellen, Goldman, Nell Mackenzie, Dhara Ranasinghe, David Holmes Organizations: REUTERS, U.S, Silicon Valley Bank, Signature Bank, Reuters, Thomson Locations: Seoul, . U.S, Silicon

June 9 (Reuters) - TriNet Group (TNET.N), an online payroll services provider with a market value of close to $7 billion, is exploring a potential sale of the company, according to people familiar with the matter. The Dublin, California-based company is working with investment bank Morgan Stanley (MS.N) to engage with potential acquirers, the sources said. TriNet shares rose 15% on the news to $111.85 in afternoon trading in New York on Friday. Founded in 1988, TriNet provides a wide range of human resources services to small and medium-sized businesses, including payroll, compliance and tax credit services. TriNet shares are up 44% so far this year, significantly outperforming an 11% return in the Russell 1000 index, as its business benefited from companies continuing to hire despite a spike in inflation.

Persons: Morgan Stanley, Michael Angelakis, TriNet, Milana Vinn, Marguerita Choy, Kirsten Donovan Organizations: TriNet, Comcast, General Atlantic, Federal Reserve, Thomson Locations: Dublin, California, New York, TriNet

☆ Racial homeownership gap larger now than a decade ago
▼ + stars: | 2023-03-02 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

The homeownership rate for White Americans in 2021 was 72.7%, but the rate for Black Americans was 44%, according to NAR’s analysis of the most recent data. The homeownership rate for Asian Americans was 62.8% and for Hispanic Americans it was 50.6%. The homeownership rate for Black Americans varies from 15% to 55% across the country. The states with the highest homeownership rate for Black Americans were South Carolina at 55%, Delaware at 54%, and Mississippi at 54%. Meanwhile, the homeownership rate for White Americans ranged from 50% to 81% across the country.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Here are four ways credit cards affect your credit score that you should be aware of:1. Credit historyThe age of your credit card account matters. Here's a few types to get you started:Secured credit cardSecured credit cards are great for those with little credit history or a low credit score. Credit card with no annual feeCredit cards with no annual fee are more your everyday variety of credit card. Use a budgeting and credit monitoring appWith multiple credit cards, it's good to have a central location for information.

Persons: —, It's, Shazia Virji, what's, Virji, Freddie Huynh, Huynh, they're, you've Organizations: Service, Consumer Financial Protection Bureau, Boomers, Freedom Financial

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