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☆ When my husband was laid off, we tried to reassure our kids everything would be OK. Meanwhile, I wasn't so sure.
▼ + stars: | 2024-05-05 | by ( Liz Alterman | ) www.businessinsider.com time to read: +7 min

Unintentionally, they sat on the living room couch in order of age from left to right: Sam, Ben, Charlie. Sam and Charlie both had chocolatey brown hair like Rich and chestnut eyes while Ben was all vanilla with blond hair and light blue eyes. Our kids had a hard time understanding what had happened"So, wait, wait, Dad was fired?" "I just mean the group I was part of decided that they don't need as many people anymore," Rich said. Sam and Ben dashed to the kitchen with Charlie on their heels, ever the little brother.

Persons: —, Ben, Charlie, Rich, I've, Dad, Charlie giggled, Sam, he'd, I'd, who'd, they'd, He'd, dibs, Liz Alterman Organizations: Service, Business, Sad, Vine Leaves Press

☆ 'Corporate bullying': Abrdn CIO slams press' jabs at the company's rebranded name
▼ + stars: | 2024-04-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The press making jabs at the current name of asset manager Abrdn , which was rebranded from 'Standard Life Aberdeen', amounts to "corporate bullying," the firm's chief investment officer Peter Branner said. The firm announced its renaming in April 2021 and has faced consistent ridicule, jokes and jibes in the media since then. In a Financial News interview out on Monday, Branner called the media jibes about the name "childish," calling out press for the frequency of its jokes. He added that people would not treat individuals in this way, but that the press seemed to practise different standards for companies. How would you look at a person who makes fun of your name day in day out?

Persons: Peter Branner, Branner Organizations: Abrdn, Aberdeen, Tuesday, CNBC

☆ Wall Street gets its biggest investment-banking shakeup in years. Here are the key players making moves.
▼ + stars: | 2024-02-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Read previewWall Street experienced a big shakeup on Monday when two big banks announced new leaders for their investment-banking units. Citi's hire comes just weeks after JPMorgan promoted Raghavan to the sole head of its deals business, forcing America's biggest bank by assets to regroup. Under Raghavan, JPMorgan rose to No. For the last decade, the 59-year-old has been CEO of the bank's commercial bank, dedicated to corporate lending, including to Silicon Valley startups and real-estate investors. In an internal memo announcing his new role, bank executives said he's "significantly" grown revenue in the region since he took over the region in 2019.

Persons: —, Viswas Raghavan, Raghavan, Jamie Dimon, Filippo Gori, Doug Petno, Filippo Gori —, Jane Fraser, Fraser, Merrill Lynch, Andy Sieg, Patrick T, Fallon, Raghavan Raghavan, Doug Petno Petno, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Marianne Lake, Rohrbaugh, he's, He'll, Sjoerd Leenart, Mary Erdoes, Reed Alexander Organizations: Service, Citigroup, America's, Business, JPMorgan, Citi, Financial Times, Banking & International, Citi Foundation, EMEA, Financial News, JPMorgan's, Corporate Banking Locations: Hong Kong, London, Europe, Africa, Fraser, EMEA, Silicon, Filippo Gori Gori, JPMorgan's Asia, Pacific

☆ Opinion: This overshadowed Trump ruling may be the one that matters most
▼ + stars: | 2024-02-21 | by ( Opinion David Zurawik | ) edition.cnn.com time to read: +7 min

If shareholders approve the merger, it would enable Trump Media to go public and Trump to own a stake worth about $4 billion. In the US, a political party’s presidential nominee has never owned a major media platform worth so much. Furthermore, the possibility of this added Truth Social muscle for Trump arrives as right-wing MAGA messaging finds more outlets at the national and grassroots levels. And, while Trump has stuck with Truth Social, X has become a haven for right-wing conspiracies of all kinds. MAGA-friendly, right-wing media is growing at the grassroots level as well.

Persons: David Zurawik, Donald Trump, David Zurawik Mich Rouse, Trump, MAGA, Jay Ritter, Julia Nikhinson, Joe Biden, Lyndon Johnson, Johnson, John F, Kennedy, Lady Bird, Elon Musk, Tucker Carlson, Vladimir Putin, Carlson, Megyn Kelly, Eric Bolling, That’s, David Smith, Sinclair Organizations: Goucher College, Baltimore Sun, CNN, Trump, Securities, Exchange Commission, SEC, Trump Media & Technology Group, Trump Media, University of Florida, Getty, Republican, Federal Communications Commission, Johnsons, Twitter, Facebook, Fox News, Russian, Fox, Tucker Carlson Network, Sinclair Broadcast Group, Digital Locations: Conway , South Carolina, AFP, Austin , Texas, Texas, Maryland

☆ A guy just signed a contract to rent an apartment using bitcoin, likely a world first
▼ + stars: | 2024-01-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

A landlord and tenant in Argentina signed the country's first-ever bitcoin-based rental contract. New regulation in Argentina allows bitcoin to be used as a valid currency in contracts. AdvertisementArgentina's and possibly the world's first-ever bitcoin-based rental contract has been signed, according to a report, marking a major milestone for crypto adoption. AdvertisementThe payments will be made via the Fiwind platform, which both parties are active members of, the company told Paginal12. A company spokesperson told Paginal12 that it is the first agreement of its kind, "at least in Argentina."

Persons: —, Argentina's, Paginal12, Florencia Feldman, it's, Javier Milei, Argentinians, cryptocurrencies Organizations: Service, SEC Locations: Argentina, Rosario, bitcoin

☆ Cheddar News, the business-focused startup, has been hollowed out. ‘It feels like the end,’ sources say
▼ + stars: | 2024-01-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

There is “literally no one there.”That’s because there is, effectively, no one working at Cheddar News, the once spirited financial news-focused streaming television network. “It feels like the end,” a person familiar with the matter candidly told me. By the time Archetype acquired Cheddar in December, only a couple dozen or so editorial staffers remained at the outlet, people familiar with the matter told me. Soon after signing those agreements, however, Archetype sent furlough notices to many of the remaining employees. “There is certainly a death happening as we speak,” one of the people familiar with the outlet’s state of affairs told me.

Persons: New York CNN —, ” I’m, Jon Steinberg, Bell ”, Kristen Scholer, I’m, Steinberg, ”, Kelly Facer, Stephanie Gildea, it’s Organizations: New, New York CNN, Cheddar News, CNBC, millennials, Altice USA, Associated Press, Altice, Business Locations: New York, Manhattan, Cheddar, ”

☆ The 'phantom debt' of buy now, pay later is growing and will soon hit some Americans hard
▼ + stars: | 2024-01-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Buy now, pay later plans gained popularity in 2023 as an alternative to high-interest credit cards. Buy now, pay later use surged recently and those bills are now dueThe use of buy now, pay later plans skyrocketed during the 2023 holiday season. According to Adobe, which tracks online sales, buy now, pay later plans use was up 47% on Black Friday and 43% on Cyber Monday. According to PYMNTS' survey, 39.6% of respondents used buy now, pay later plans for clothing and accessories and 33.7% used them for groceries. Buy now, pay later debt can be advantageous if used correctly.

Persons: —, Rather, Peter Cade, PYMNTS, Tim Quinlan, Shannon Seery Grein, Selcuk, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Warren Buffett, Buffett, I've Organizations: Service, Federal Reserve Bank of Philadelphia, Adobe, Household Economics, Science Research Network, Economic, Anadolu Agency, Getty, Wells, US Locations: Wells Fargo

Cheddar News owner Altice USA announced Thursday it has sold the financial news streaming service to the media company Archetype, which is owned by private equity firm Regent LP. Altice USA will collect proceeds in the future if Cheddar meets certain performance targets. Those payments could amount to about $50 million based on internal projections, CNBC previously reported. Cheddar, founded in 2016 by Jon Steinberg, was bought by Altice USA in 2019 for $200 million. "We are incredibly proud of what Cheddar News has accomplished within the Altice USA portfolio, growing its distribution to reach new viewers with fresh and exciting need-to-know news content," said Keith Bowen, president of news, advertising and programming for Altice USA, in a statement.

Persons: Jon Steinberg, Keith Bowen Organizations: Cheddar News, Altice USA, CNBC, Sunset Magazine, Military Times, CNBC PRO Locations: Cheddar, Regent, USA

☆ Altice USA in talks to sell Cheddar News to private equity firm Regent
▼ + stars: | 2023-12-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter. Instead, Altice USA would participate in Cheddar's future performance as part of a so-called "earn out" structure. Since then, Altice USA, the fourth-largest U.S. cable provider, behind Comcast , Charter and Cox, has looked to shed assets as its stock price has plummeted. Altice USA has also considered selling U.S. cable asset Suddenlink but dropped those plans in late 2022. The New York Times reported Altice USA was considering selling Cheddar earlier this year.

Persons: Jon Steinberg, Dexter Goei, Steinberg, Goei, Regent, Ralph Lauren, Regent didn't Organizations: USA, Regent, Altice, CNBC, Altice USA, Comcast, Cox, Sightline Media, Sunset Magazine, Time Inc, Club Monaco, New York Times Locations: LA, USA, Altice USA, U.S, Tegna

☆ Israel investigates possible trading knowledge ahead of Oct 7 Hamas attack
▼ + stars: | 2023-12-04 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

[1/2] An aerial view shows vehicles on fire as rockets are launched from the Gaza Strip, in Ashkelon, southern Israel October 7, 2023. REUTERS/Ilan Rosenberg/File Photo Acquire Licensing RightsJERUSALEM, Dec 4 (Reuters) - Israeli authorities are investigating claims by U.S. researchers that some investors may have known in advance of a Hamas plan to attack Israel on Oct. 7 and used that information to profit from Israeli securities. "And just before the attack, short selling of Israeli securities on the Tel Aviv Stock Exchange (TASE) increased dramatically," they wrote in their 66-page report. In response, the TASE referred Reuters to the Israel Securities Authority, which said: "The matter is known to the authority and is under investigation by all the relevant parties." The professors referred to patterns in early April when it was reported that Hamas was initially planning its attack on Israel.

Persons: Ilan Rosenberg, Robert Jackson Jr, Joshua Mitts, Steven Scheer, Howard Goller Organizations: REUTERS, Rights, U.S, Research, New York University, Columbia University, MSCI Israel, Fund, Financial Industry Regulatory Authority, Tel Aviv Stock Exchange, Reuters, Israel Securities Authority, Thomson Locations: Gaza, Ashkelon, Israel, MSCI, Israel's

Argentine President-elect Javier Milei departs the Eisenhower Executive Office Building after meeting with Biden administration staff at the White House complex in Washington, U.S., November 28, 2023. His foreign policy, meanwhile, is unabashedly pro-United States and pro-Israel, with a cooler stance on top trade partners Brazil and China. 2 Gita Gopinath and other fund officials, the fund said separately. The IMF has said in the past that dollarization is not a substitute for sound macroeconomic policy. Milei and IMF officials had a first virtual meeting on Friday, which Georgieva called a "very constructive engagement".

Persons: Javier Milei, Kevin Lamarque, Milei, Jake Sullivan, Juan Gonzalez, Benjamin Gedan, Alberto Fernandez, Vladimir Putin, Kristalina Georgieva, Posse, Luis Caputo, Gita Gopinath, Georgieva, Jason Lange, Rodrigo Campos, Rosalba O'Brien, Christopher Cushing Organizations: Argentine, Biden, REUTERS, Rights, U.S, White, National Security, Western, United, Israel, America, Wilson, International Monetary Fund, IMF, Reuters, Thomson Locations: Washington , U.S, Washington, Argentina, United States, Brazil, China, U.S, Moscow, Ukraine, Beijing, Argentine, New York

New Zealand's Foreign Minister Winston Peters arrives at a news conference after he attended an emergency meeting of the Organisation of Islamic Cooperation (OIC) in Istanbul, Turkey, March 22, 2019. The role of deputy prime minister, a key sticking point in the discussions, will be split between the populist NZ First party leader Winston Peters and ACT party leader David Seymour, the group announced in a statement. National Party deputy leader Nicola Willis will be finance minister and Peters will be foreign minister, the parties said. The coalition plans to repeal a ban on offshore oil and gas exploration and a ban on the sale of cigarettes to future generations introduced by the previous Labour government, according to coalition documents. "Foreign affairs does matter to this country.... all relationships do matter to this country," Peters said in a joint news conference in the capital Wellington after the announcement.

Persons: Winston Peters, Murad Sezer, David Seymour, Nicola Willis, Peters, Christopher Luxon, Luxon, ” Luxon, Jacinda, Helen Clark, Lucy Craymer, Praveen Menon, Diane Craft Organizations: Zealand's, of Islamic Cooperation, REUTERS, ACT NZ, National Party, NZ First, ACT, Party, Reserve, New Zealand, Bank of New, Labour, “, New Zealanders, Police, Thomson Locations: Istanbul, Turkey, WELLINGTON, Bank of New Zealand, Wellington, Niue

☆ What do we know about China's new financial watchdog?
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Nov 21 (Reuters) - China's Central Financial Commission (CFC), a new regulator with Premier Li Qiang as its head, held a meeting on Monday and urged stronger supervision of risks in the financial sector as Beijing accelerates efforts to become a "major financial power". The CFC was set up for the top-level design, development and supervision of the financial sector, strengthening "unified leadership on financial work", according to a restructuring plan published by state media in March this year. The CFC has recruited many officials from the central bank and the finance ministry, financial news outlet Caixin reported earlier this month. The appointments indicate that both officials, who are close confidants of President Xi Jinping, will play important roles in shaping China's financial policies. He was also appointed as party chief of a separate Central Financial Work Commission (CFWC), which has been set up to strengthen the ideological and political role of the party in China's overall financial system.

Persons: Li Qiang, Premier Li, Li, Lifeng, Xi Jinping, Wang Jiang, Xia Xiande, Xi, Ziyi Tang, Kevin Yao, Ryan Woo, Sumeet Chatterjee Organizations: Financial Commission, Communist Party, CFC, WHO, THE, Financial Work, China Everbright Group, Analysts, Reuters, National Financial Regulatory Administration, State Council, People's Bank of China, prudential, Thomson Locations: BEIJING, Beijing, China, Lincoln

The economy is likely already in recession and is expected to contract again next year. Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation. "Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment." "Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain." For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.

Persons: Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker Organizations: por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson Locations: Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming

Hadri and Umar on Thursday began their defence after being accused of murdering Mongolian Altantuya Shaariibuu. Sirul was arrested on an Interpol notice and has been held in an Australian immigration detention centre since January 2015, after fleeing Malaysia shortly before the verdict was handed down. His release comes just days after a landmark ruling by Australia's High Court that outlawed indefinite immigration detention, leading to the release of dozens of asylum seekers. Malaysia's top police official Razarudin Husain confirmed news of Sirul's release from Australian detention and said police would discuss with the Attorney-General and the courts the possibility of seeking extradition. Sirul was serving as a member of Najib’s personal security detail at the time of the murder.

Persons: Azilah Hadri, Sirul Azhar Umar, Hadri, Umar, Bazuki Muhammad, Najib Razak, Sirul, Razarudin Husain, Sirul’s, Najib, Praveen Menon, Rozanna, Lincoln Organizations: Thursday, Mongolian, REUTERS, Rights, Australia's, Attorney, Thomson Locations: Shah Alam, Kuala Lumpur, KUALA LUMPUR, Malaysian, Australia, Malaysia, Canberra, Malaysia’s, Sydney

LSEG Workspace, a financial news and data platform, calculated inventory turnover ratios of 30 major U.S. retailers for Reuters. "I am relatively pessimistic about the holiday season," said Gerald Storch, retail consultant and former Target vice chairman and ex-CEO of Hudson's Bay. Department stores' holiday season is "likely not going to be that strong," said David Swartz, a Morningstar analyst. Reuters Graphics Reuters GraphicsTo be sure, inventory turnover is not the only metric Wall Street investors use to judge retailers' inventory levels. Some are already slashing prices and dangling discounts to clear excess inventory before Black Friday, the start of holiday shopping season.

Persons: King, King of Prussia, Sarah Silbiger, Gerald Storch, Jeff Bornino, David Swartz, Ulta, pare, Jason Benowitz, Joseph Feldman, Jane Hali, Nordstrom, Brian Mulberry, Savyata Mishra, Ananya Mariam Rajesh, Richa Naidu, Siddharth Cavale, Aishwarya Venugopal, Rod Nickel Organizations: REUTERS, Dollar, Walmart, Reuters, North America, Kroger, Department, Morningstar, TJX Companies, Dick's Sporting, Reuters Graphics Reuters, Roosevelt, Telsey Advisory, Research, Associates, Nordstrom, Zacks Investment Management, Thomson Locations: King of, King, King of Prussia , Pennsylvania, U.S, Hudson's, North

Brazil's central bank Governor Roberto Campos Neto, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 9, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Brazil's central bank chief Roberto Campos Neto on Thursday said any change to the country's fiscal target would raise concerns, following comments by President Luiz Inacio Lula da Silva casting doubt on the government's vow to erase a budget deficit. Since then, Finance Minister Fernando Haddad has broadly reaffirmed Brazil's commitment to "fiscal balance," but lawmakers involved in next year's budget bill are hinting heavily that they aim to loosen the zero-deficit target. In Thursday's interview, Campos Neto highlighted that Brazil has approved important reforms since the COVID pandemic, including an overhaul on consumption taxes, which passed the Senate on Wednesday, but acknowledged the uncertainty on fiscal policy. "And that influences a lot of the variables that are important for us when you make decisions in monetary policy," he reinforced.

Persons: Roberto Campos Neto, Brendan McDermid, Luiz Inacio Lula da Silva, Campos Neto, Lula, Fernando Haddad, Rodrigo Campos, Dan Burns, Marcela Ayres, Mark Porter, Brad Haynes, Nick Macfie Organizations: REUTERS, Reuters NEXT, Finance, Thomson Locations: New York City , New York, U.S, New York, Brazil

She is one of thousands believed by rights activists to be in hiding in Pakistan to avoid deportation under a government push for undocumented migrants to leave the country. That includes over one million Afghans, many of whom the Pakistan government says have been involved in militant attacks and crime. 'WORSE THAN PRISON'Reuters spoke to a dozen undocumented migrants trying to stay under the radar of the nationwide sweep. "This is worse than prison," said a 22-year-old Afghan man who said he ensured the lights remained off at night. Some locals who are helping the Afghans arrange for food and water to be secretly smuggled into the shelter under the cover of night.

Persons: Saleh Zada, Akhtar Soomro, Sijal Shafiq, Shafiq, Wafa, I'm, Gibran Peshimam, Raju Gopalakrishnan Organizations: Reuters, REUTERS, Rights, Authorities, United Nations, Thomson Locations: Badakhshan province, Kabul, Karachi, Pakistan, Rights KARACHI, Afghanistan, United States, Hazara, Islamabad, France, Canada

REUTERS/Mohammad Ponir Hossain/File photo Acquire Licensing RightsNEW DELHI, Nov 9 (Reuters) - Global fashion retailers including H&M (HMb.ST) and Gap (GPS.N) are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers' wages, a U.S.-based association representing more than 1,000 brands said. Asked if they would raise purchase prices by the 5-6% that costs will rise, Stephen Lamar, chief executive of the American Apparel & Footwear Association (AAFA), told Reuters: "Absolutely". "We also renew our pleas for the adoption of an annual minimum wage review mechanism so that Bangladeshi workers are not disadvantaged by changing macroeconomic conditions." Low wages have helped Bangladesh build its garment industry, which employs about 4 million people. Retailers in the United States and Europe are the main buyers of Bangladesh-made clothes.

Persons: Mohammad Ponir Hossain, Stephen Lamar, Lamar, Sheikh Hasina, Hasina, Krishna N, Ruma Paul, Miral Organizations: The Civil Engineering, REUTERS, Labour, American Apparel & Footwear Association, Reuters, International Labour Organization, Abercrombie & Fitch, Bangladesh, Retailers, Thomson Locations: Dhaka, Bangladesh, DELHI, U.S, China, Vietnam, Cambodia, United States, Europe

[1/5] Garment workers come out of a factory during lunch hours at the Ashulia area, outskirts of Dhaka, Bangladesh, November 8, 2023. A panel of factory owners, union leaders and officials agreed to the increase unanimously, said Siddiqur Rahman, the owners' representative. "We continue to recommend that the government of Bangladesh adopt an annual minimum wage review mechanism to keep up with changing macroeconomic factors," the letter said. In addition to the wage increase, the government has said that workers would be given a 5% annual increment. Babul Akter, president of the Bangladesh Garment and Industrial Workers Federation, urged global brands to pay more, saying: "There could be some problems for the owners to cope with the increased salaries."

Persons: Mohammad Ponir Hossain, Siddiqur Rahman, Rahman, Inditex, Hugo Boss, Fazlul Hoque, Hoque, Levi Strauss, Armour, Sheikh Hasina, Akter, Abdus Salam Murshedy, Murshedy, Krishna N, Ruma Paul, Miral Organizations: REUTERS, Rights DHAKA, Reuters, Inc, Knitwear Manufacturers, Association, Labour, Abercrombie & Fitch, Adidas, Puma, Bangladesh Garment and Industrial Workers Federation, Envoy Group, Walmart, Hasina's Awami League, Das, Thomson Locations: Dhaka, Bangladesh, DELHI, China, Zara, Ukraine, New Delhi

Nov 9 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Producer and consumer price inflation figures will be released, the highlights of a regional calendar that also includes Japanese bank lending, trade and current account figures, Indonesian retail sales, and Philippines GDP. Global yields are moving too - the 10-year Japanese Government Bond yield is back below 0.85%, having come within two basis points of 1% last week. The decline in U.S. bond yields is removing some of the dollar's shine, which in turn is allowing Asian currencies to fight back. Yen traders on Thursday are also eyeing Japanese bank lending figures for October and September's trade and current account report.

Persons: Jamie McGeever, Pan Gongsheng, Ping, Fed's Powell, Josie Kao Organizations: Treasury, People's Bank of China, Financial, Ping An Insurance Group, Reuters, Nissan, Honda, Sony, Group, China PPI, CPI, Thomson Locations: Asia, Philippines, Beijing, China's, Japan, Philippine, China

SYDNEY, Nov 8 (Reuters) - Millions of Australians were left without a phone or internet connection on Wednesday after the country's second-largest telecommunications provider experienced an unexplained nationwide outage. "Our teams are working urgently to restore services. The government had sought further information from Optus including when they expected to restore services. Melbourne's train networks were forced to shut down for about 30 minutes due to the outage, resulting in delays during the morning rush, media reported. A cyber breach last year hit Optus, exposing personal details of millions of its customers, including their home addresses, driver licence and passport numbers.

Persons: telco, Michelle Rowland, Rowland, Renju Jose, Praveen Menon, Stephen Coates Organizations: SYDNEY, Optus, Singapore Telecommunications, Commonwealth Bank, CBA, Reuters, Federal Communications, ABC Radio, Thomson Locations: Sydney

☆ China's He Lifeng named to key post in Central Financial Commission
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Nov 6 (Reuters) - A Chinese vice premier, He Lifeng, has been appointed head of the office of the Central Financial Commission (CFC), which is responsible for running day-to-day affairs of a new regulator tasked with overseeing a vast financial sector. He was also appointed as party chief of a separate Central Financial Work Commission (CFWC), which has been set up to strengthen the ideological and political role of the party in China's overall financial system. The appointments, announced by the central bank's Financial News publication, underscore how the ruling Communist Party has taken direct control of supervising the financial sector. He has also been appointed director of a key ruling Communist Party economic body, the Central Finance and Economic Affairs Commission, replacing Liu He. In 2014, He was named vice chairman of the National Development and Reform Commission, the state planning agency, before taking full control in 2017.

Persons: Lifeng, Florence, Xi Jinping, Liu He, Xi, Ziyi Tang, Kevin Yao, Ryan Woo, Edwina Gibbs, Robert Birsel Organizations: REUTERS, Rights, Central Financial Commission, Financial Work, Financial, Communist Party, Central Finance, Economic Affairs Commission, Xiamen University, National Development, Reform Commission, Thomson Locations: China, EU, Diaoyutai, Beijing, Rights BEIJING, Quanzhou, Fujian province, Xiamen, Tianjin

☆ China Appoints He Lifeng as Head of Office of the Central Financial Commission -Central Bank Publication
▼ + stars: | 2023-11-06 | by ( Nov. | At A.M. | ) www.usnews.com time to read: 1 min

BEIJING (Reuters) - China's economy tsar He Lifeng has been appointed as head of office of Central Financial Commission, according to a central bank publication Financial News report on Monday. He was also appointed as party chief of Central Financial Work Commission, according to the publication. The publication for the first time referred to He by the new titles in a readout of a meeting of the Central Financial Commission, without giving details on the appointments. (Reporting by Beijing Newsroom; Editing by Tom Hogue)

Persons: Lifeng, Tom Hogue Organizations: Central Financial Commission, Central Financial Work, Beijing Locations: BEIJING

☆ Joseph Hoppe — Reporter at The Wall Street Journal
▼ + stars: | 2023-11-05 | by ( Joseph Hoppe | ) www.wsj.com time to read: 1 min

Joseph HoppeJoseph Hoppe is a reporter on the U.K. desk in Barcelona, covering business and financial news with a special focus on British real estate. He writes for Dow Jones Newswires and The Wall Street Journal.

Persons: Joseph Hoppe Joseph Hoppe, Dow Jones Newswires Organizations: Street Locations: Barcelona

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