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☆ Satya Nadella just tried to show everyone who's boss in AI, again
▼ + stars: | 2024-04-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Satya Nadella is hoping to prove he's the shrewdest dealmaker in AI. Microsoft just put $1.5 billion in UAE firm G42 while getting it to divest its China ties. G42 has been linked to a chip venture led by Microsoft's other main AI bet, OpenAI. Last month, Nadella pulled off a big coup by hiring Mustafa Suleyman, a DeepMind cofounder and Inflection AI CEO, and several of his software engineers to head up a new AI division at Microsoft. InflectionThe move involved a $650 million payment to Inflection AI that would also allow Microsoft to license Inflection's AI models.

Persons: Satya Nadella, —, Redmond, Peng Xiao, hasn't, Sam Altman, Nadella, Brad Smith, who's, …, Altman, Mustafa Suleyman, Mistral Organizations: Microsoft, Service, OpenAI, Huawei Locations: UAE, China, Abu Dhabi, DarkMatter, Beijing, @G42ai, OpenAI, Paris

☆ Microsoft turns to the Middle East for its latest bet on AI
▼ + stars: | 2024-04-16 | by ( Mark Thompson | Tom Foster | ) edition.cnn.com time to read: +2 min

London CNN —Microsoft will invest $1.5 billion in Abu Dhabi’s G42, an artificial intelligence group that has faced questions over its ties to China. The companies will collaborate on AI and digital infrastructure, in a move that sees Microsoft’s AI empire expand into the Middle East for the first time. G42 and Microsoft say they have committed to comply with US and international trade rules as part of their partnership. Microsoft has forged high-profile partnerships with several AI companies, in an attempt to position itself as a leader in the technology. “It’s all about this new AI era,” Smith told CNN in February.

Persons: Peng Xiao, —, Xiao, Brad Smith, ”, OpenAI, “, ” Smith Organizations: London CNN, Microsoft, Abu, Pegasus, New York Times, CNN, Mistral Locations: Abu Dhabi’s, China, Chinese, Beijing, UAE, United States, Europe, Spain, Germany

☆ The world’s best dumplings
▼ + stars: | 2024-03-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +17 min

The best way to sample these dumplings is from a street vendor carting a steamer on his bicycle. KartoffelknoedelCarbtastic kartoffelknoedel ExQuisine/Adobe StockFound across Germany, kartoffelknoedel, or potato dumplings, usually accompany meat dishes. Artit_Wongpradu/iStockphoto/Getty ImagesSome dumpling purists say that the Australian dim sim is merely a bastardized version of Chinese dumplings. Joshua Resnick/500px Plus/Getty ImagesFound on Chinese takeout menus in the United States, crab rangoon are deep-fried dumplings served as a side dish. Shish barakShish barak are lamb dumplings served with yoghurt.

Persons: ., Ravioli, –, chao shou, chao, bryndzové, Lisa Wiltse, dumpling, Edward Wong, there’s, Beata Zawrzel, Mayur, Lord Ganesha, Ganesh Chathurthi, Pelmeni, Dim sims, Peng, Kimchi, Jonathan Wong, manti, speck, you’ll, Deb Lindsey, Uszka, Gyoza, Joshua Resnick, Ihor, it’s, It’s, DiAnna Paulk, Paolo Bernardotti, Shish barak Shish barak, Julia Buckley Organizations: CNN, South China Morning, Adobe, Central Asia, Kazakhstan –, Turks, Adobe Stock, Corbis, China Morning, Getty, Turkish, Fascism, Washington Post Locations: . Cheng, South, Italy, Rome, Sichuan, Central, Turkey, China, Azerbaijan, Kazakhstan, Central Asia, Mongol, Slovakia, Slovakian, Indonesian, Bandung, Hong Kong, Eastern Europe, Maharashtra, Germany, Brazil, Siberia, European, Australia, North America, Europe, Tunisian, Argentina, empanadas, Mendoza, USA, Southern, United States, Central Asian, Korea, Alto Adige, Austrian Tyrol, Kathmandu, Poland, Tokyo, rangoon, Asia, Russia, Georgia, Japan, Pennsylvania, Piedmont, Afghanistan

☆ As cocoa prices soar this Easter, chocolatiers consider alternatives
▼ + stars: | 2024-03-28 | by ( John Towfighi | ) edition.cnn.com time to read: +7 min

CNN —Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Poor climate and crop diseases in West Africa – home to 70% of global cocoa production – have tightened supply and caused prices to skyrocket. As prices rise, some chocolatiers are exploring cost-cutting alternatives, like diversifying their products to depend less on cocoa. Yet mining often destroys farms and the possibility of a livelihood in cocoa production, Issaka said. “Given the persistently high cocoa prices, it may be necessary for us to make responsible adjustments to pricing in the future,” the spokesperson wrote in an email.

Persons: Hershey’s, Shaquille O’Neal, Michele Buck, Billy Roberts, Roberts, ” Roberts, Issaka, Will Kletter, Kletter, “, Peng Xu, Christopher Taylor, Li, Taylor, ”, “ We’re, “ It’s, ” Taylor Organizations: CNN, Cadbury, NCA, “ Brands, Industries, International Cocoa Organization, Rabobank, US, ”, Euromonitor Locations: West Africa, North Region, Ghana, Ivory Coast, Silicon, Washington ,, Manhattan

☆ Apple's iPhone China shipments in February look even worse than estimated
▼ + stars: | 2024-03-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."

Persons: —, Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing

☆ U.S. and Britain accuse China-linked hackers of ‘malicious’ cyber campaigns, announce sanctions
▼ + stars: | 2024-03-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

BeeBright | Getty ImagesLONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind "malicious" cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. "I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians," British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. "We want now to be as open as possible with the House and the British public," Dowden said. U.S. hits out at ChinaSeparately, the U.S. Justice Department unsealed an indictment Monday accusing Chinese state-linked hackers of being behind cyber campaigns targeting U.S. businesses, government officials and politicians.

Persons: Oliver Dowden, Dowden, Ni Gaobin, Weng Ming, Cheng Feng, Peng Yaowen, Xiong Wang, Zhao Guangzong, Merrick B, Garland Organizations: Getty, stoke, Electoral, Electoral Commission, Embassy, Google, APT31, U.S . Justice Department, DOJ Locations: U.S, Beijing, China, Britain, APT31 ., United States

☆ Retail traders are bailing on 3 of the hottest AI plays in the stock market today
▼ + stars: | 2024-03-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

After subtracting for outflows, JPMorgan's Peng Cheng said retail traders poured nearly $450 million into single stocks over the last week. Nvidia , Advanced Micro Devices and Super Micro Computer were among the stocks seeing the largest net retail outflows in the week, JPMorgan found. Advanced Micro had retail net outflows of more than $800 million in the period, while investors sold Super Micro shares to the tune of $301 million, the firm said. Beyond AI stocks, Tesla was another one of those most sold names in the week with retail net outflows of more than $300 million, according to JPMorgan. Apple was the most bought stock by everyday investors in the week, clinching more than $1.4 billion, JPMorgan found.

Persons: JPMorgan's Peng Cheng, Cheng, Tesla Organizations: JPMorgan, Nvidia, Devices, Micro, AMD, Super Micro, LSEG, Tesla, Big Tech, Apple

☆ Retail traders are making some surprising moves in the latest week
▼ + stars: | 2024-03-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Retail traders bought billions of dollars worth of cash equities over the past week on net, according to data compiled by JPMorgan's Peng Cheng. With those gains, he said traders bought into Apple and Alphabet , which have both largely sat out of the broader market rally this year. By comparison, investors bought more than half a billion dollars of Alphabet when accounting for outflows. Neither tech stock made the list of top 25 securities by retail net inflows in the previous week. Outside of big tech, Cheng noted that retail investors snapped up shares of beat-down Boeing , which is facing a crisis surrounding its 737 Max 9s after a door panel blew out midflight.

Persons: JPMorgan's Peng Cheng, Cheng, SPX, Max, LSEG Organizations: Retail, Nvidia, Meta, Apple, Trust, outflows, Boeing, Dow Jones, Broadcom, Costco Locations: Japan

☆ Analysis: China worried about return of Trump, but also sees opportunities if he wins 2024 election
▼ + stars: | 2024-03-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +15 min

Then-US President Donald Trump and his wife Melania with Chinese leader Xi Jinping and his wife Peng Liyuan at Beijing's Forbidden City in 2017. “If this decoupling is carried out by Trump 2.0 in a very forceful way, the impact on China is going to be very severe. But experts say China’s business and official sectors are likely already considering contingency plans. Chinese leader Xi Jinping and Russian President Vladimir Putin leave a reception following talks at the Kremlin in March 2023. “Whoever wins – the structure of (US) confrontation, competition, pressure to China are still there,” he said.

Persons: Joe Biden, Xi, Donald Trump, didn’t, –, Biden, Wang Yi, Trump, He’s, Trump’s, Brian Wong, ” Wong, Lintao Zhang, Obama, Melania, “, Xi Jinping, Peng Liyuan, Xie Huanchi, he’s, ”, Bala Ramasamy, Shen Dingli, Premier Li Qiang, Ronald Reagan, “ Biden, Shen, ” Trump, skeptically, Vladimir Putin, Putin, Pavel Byrkin, Wong, it’s, Wang Yiwei Organizations: Beijing CNN —, Communist Party, Biden, Senior, Trump’s “, University of Hong Kong’s, Contemporary, House, oceanside, Trump, of, Forbidden, Huawei, Oxford Economics, China Europe International Business School, Premier, American, South Korea Navy, Asia –, Russia’s, NATO, Europe, Kremlin, Getty, South Korea –, White House, Renmin University Locations: China, Beijing, State, US, Russia, Communist, Contemporary China, Taiwan, Lago, City, Xinhua, Shanghai, Southeast Asia, Latin America, Europe, China's Qingdao Port, –, Asia, Seoul, Tokyo, Ukraine, United States, AFP, Japan, South Korea, America, Washington, Hong Kong, South China

☆ Companies are already trying to put AI features on consumer-facing products at MWC: Research firm
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompanies are already trying to put AI features on consumer-facing products at MWC: Research firmNicole Peng, senior vice president of mobility at Canalys, discusses the role that artificial intelligence is playing at the Mobile World Congress 2024 in Barcelona.

Persons: Nicole Peng Organizations: Companies, MWC, Research, Mobile Locations: Barcelona

☆ Alibaba bets on overseas e-commerce unit amid sluggish growth in China
▼ + stars: | 2024-02-20 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Costfoto | Nurphoto | Getty ImagesChinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish. James Dong, CEO of Southeast Asian e-commerce giant Lazada Group, was named as Daraz's acting CEO. Dong took over as Lazada Group CEO from Chun Li in June 2022, after running the company's Thailand and Vietnam operations. Intense competitionThe e-commerce business that once propelled Alibaba to success has run into challenges with upstart competitors such as PDD, while consumption growth in China remains sluggish. Alibaba posted 9% year-on-year revenue growth in the third quarter to about $31 billion.

Persons: Eddie Wu, Yinglan Tan, AliExpress, Bjarke Mikkelsen, Jan, James Dong, Lazada, Tan, Alibaba, Zhang, Dong, Chun Li, Li, Pierre, Lucy Peng, PDD Organizations: Nurphoto, Getty, Digital Commerce, Tmall, Tmall Group, Alibaba, Ventures, Lazada, CNBC, Ventures Partners, Alibaba Group, PDD Holdings, Hong Kong, HK Locations: Huangpu District, Shanghai, Taobao, monetization, Alibaba, Pakistan, Asia, China, Thailand, Vietnam, Hong Kong

☆ Stefan Irvine’s photos capture the Hong Kong villages reclaimed by nature
▼ + stars: | 2024-02-13 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Thick roots tumble across a dilapidated house, the snake-like trunks of a banyan tree framing where the front door once stood. “These villages have existed in Hong Kong for hundreds of years, way before the colonial period,” explained Irvine. In the 1950s and ‘60s, as Hong Kong grew as an industrial hub, many people migrated to the rapidly expanding urban centers for better working opportunities. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong Kong“There were calendars on the wall, school certificates in drawers — it’s quite poignant,” said Irvine. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong KongHeritage valueWhile most of the villages Irvine photographed are abandoned, he was surprised to discover not all were.

Persons: Stefan Irvine, ” Irvine, “ It’s, ”, “, Irvine, Wong Chuk, Lai Chi Wo, they’ll, Tung Ping Chau, Yim Tin Tsai, Luk Keng, Lai, they’ve, Hong, Wo Organizations: Hong Kong CNN, steely, Hong, HK, Irvine, Blue Lotus Locations: Hong Kong, Malaysian, India, Irvine, New Territories, Accounting, Hong Kong’s, London, Tai Peng, Lamma, Lai Chi, Queen's Hill, Fanling, Tung, Shenzhen, China, “, Mau, Lai, Hong

☆ AMD bets on AI-powered PCs as artificial intelligence race with Nvidia, Intel heats up
▼ + stars: | 2024-02-02 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JULY 28, 2023 - Photo taken on July 28, 2023 shows the AMD logo at the 2023 ChinaJoy in Shanghai, China. U.S. chip giant Advanced Micro Devices is betting on AI PCs to take on rivals including Nvidia and Intel as the AI race heats up. "[The market for] AI PCs is going to continue to expand," said Victor Peng, president of AMD, in an exclusive interview with CNBC on Thursday. He added that the firm expects more adoption of AI PCs in the second half of the year. IDC expects the integration of AI capabilities into PCs to serve as a catalyst for upgrades, hitting shelves this year.

Persons: Victor Peng, Enrique Lores Organizations: Nvidia, Intel, AMD, CNBC, ChatGPT, HP, International Data Corporation, IDC Locations: SHANGHAI, CHINA, Shanghai, China . U.S

☆ Business Insider Laying Off 8% of Staff
▼ + stars: | 2024-01-25 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: 1 min

Business Insider said on Thursday that it was laying off 8 percent of its staff, the latest in a wave of sharp job cuts in the media industry this month. Barbara Peng, Business Insider’s chief executive, said in an internal note that the job cuts were part of a plan, announced late last year, to shift focus solely to news coverage of business, tech and innovation. “We have already begun to refocus teams and invest in areas that drive outsize value for our core audience,” Ms. Peng wrote. “Unfortunately, this also means we need to scale back in some areas of our organization.”Ms. Peng added: “We’re committed to building an enduring and sustainable Business Insider for the coming years and beyond.”

Persons: Barbara Peng, ” Ms, Peng, “, Ms, “ We’re, ”

☆ Zheng Qinwen: Chinese star reaches landmark grand slam semifinal at the Australian Open
▼ + stars: | 2024-01-24 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Zheng Qinwen became just the fourth Chinese woman to reach the semifinal of a grand slam after coming from behind to defeat Anna Kalinskaya at the Australian Open. Against Yastremska, the 21-year-old will join Zheng Jie, Li Na and Peng Shuai in the list of Chinese women to reach a grand slam semifinal. Of those, only Li has ever won a major: the French Open in 2011 and the Australian Open in 2014. According to Opta, Zheng is also the fourth Asian player in the Open Era to reach the final four of a grand slam before turning 22. Prior to this year’s Australian Open, she had made one previous appearance in the quarterfinals of a grand slam at last year’s US Open.

Persons: Zheng Qinwen, Anna Kalinskaya, Zheng, Dayana Yastremska, ”, “, – I’m, ” Zheng, Kalinskaya, Cameron Spencer, Zheng Jie, Li Na, Peng Shuai, Li, Opta Organizations: CNN Locations: Russian

☆ Our Journalism: A Note from CEO Barbara Peng
▼ + stars: | 2024-01-14 | by ( Barbara Peng | ) www.businessinsider.com time to read: +1 min

We are a journalism organization with high standards and a commitment to truth and fairness. Regarding the recent reporting on Neri Oxman, we feel it's important to share the following:There was no unfair bias or personal, political, and/or religious motivation in the pursuit of the stories. The stories were newsworthy and Neri Oxman, who has a public profile as a prominent intellectual and has been a subject of and participant in media coverage, is a fair subject. The process we went through to report, edit, and review the stories was sound, as was the timing. Business Insider supports and empowers our journalists to share newsworthy, factual stories with our readers, and we do so with editorial independence.

Persons: Neri Oxman, Ackman, Barbara Peng Organizations: Business

☆ Neri Oxman plagiarism claims: Business Insider stands by reporting on Bill Ackman’s wife
▼ + stars: | 2024-01-14 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

In a note Sunday morning, Barbara Peng, chief executive of Business Insider, said the outlet had spent several days reviewing its reporting after public complaints made by Ackman. “Business Insider supports and empowers our journalists to share newsworthy, factual stories with our readers, and we do so with editorial independence,” Peng wrote. “We stand by our newsroom and our reporting, which will continue onward.”In the wake of the reporting, Oxman acknowledged she had failed to properly cite some of her work. A spokesperson for Axel Springer told CNN on Sunday that the German publishing powerhouse was satisfied with the review Business Insider had completed. “We stand by Business Insider and its newsroom,” the spokesperson said.

Persons: Axel Springer, Neri Oxman, Bill Ackman, Barbara Peng, Peng, ” Peng, Oxman, “, ”, Ackman, Claudine Gay, Axel Springer’s Organizations: CNN — Business, Massachusetts Institute of Technology, Business, ”, Oxman, Harvard, CNN

“We stand by Business Insider and its newsroom,” said a spokesman for Axel Springer, the German media company that owns the publication. With its stories, Business Insider raised both the idea of hypocrisy and the possibility that academic dishonesty is widespread, even among the nation's most prominent scholars. The business leader reached out in protest to board members at both Business Insider and Axel Springer. “Business Insider supports and empowers our journalists to share newsworthy, factual stories with our readers, and we do so with editorial independence,” Peng wrote. Business Insider would not say who conducted the review of its work.

Persons: Claudine Gay, ”, Axel Springer, Neri Oxman, Bill Ackman, Gay, Axel Springer's, ” Ackman, Ackman, “, Oxman, Barbara Peng, ” Peng, ” Harvard's, Nicholas Carlson, Carlson Organizations: MIT, Business, Harvard, Pershing, Oxman, The New York Times, Times, The Washington Post Locations: Israel

As the most powerful Chinese leader in generations, Xi Jinping rarely bothers to glad-hand or to try charming a crowd. His public appearances in China are carefully crafted, with fawning cadres and adoring fans positioned around him. So when Mr. Xi landed in San Francisco this week to meet with President Biden, to try to stabilize a relationship with the United States that has been spiraling downward, it provided a rare opportunity to see the Chinese leader up close and, at times, less filtered than usual. Earlier, the Chinese leader had compared presidential limousines with Mr. Biden as they met on the sidelines of the Asia Pacific Economic Cooperation summit. And he thanked Mr. Biden for reminding him that his wife, Peng Liyuan, a famous Chinese soprano and folk singer, has a birthday on Monday, as does Mr. Biden.

Persons: Xi Jinping, Xi, Biden, Mr, Peng Liyuan Organizations: Asia Pacific Economic Cooperation Locations: China, San Francisco, United States, Iowa, Hebei

☆ Mom and pop shops are cutting software spending, creating jitters on Wall Street
▼ + stars: | 2023-11-16 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +9 min

Joe Coffee founders Nick and Brenden Martin Joe CoffeeWall Street is on edge. Over the past two decades, small businesses have accounted for 40% of U.S. gross domestic product, according to the Chamber of Commerce. "If America is really built on the backbone of small business owners, why are they the ones that never catch the break?" In 2021, Joe Coffee, which now has 17 employees, created a full software and payments suite for coffee shops. WATCH: Xero will remain focused on core segments such as small businesses

Persons: PAYC ZI, Nick Martin, Joe Coffee, Martin, Joe Coffee's, aren't, Bill, Nick, Brenden Martin Joe Coffee, John Rettig, Cameron Hyzer, Yamini Rangan, Rangan, Bill didn't, Jake Dollarhide, Martins, Brenden Martin, Nick's, Brenden, Zhang Peng, they'd, Taylor McGinnis, ZoomInfo, we've, Bryan Keane Organizations: Starbucks, CNBC, Bill Holdings, Bureau of Labor Statistics, Joe, Nasdaq, Chamber of Commerce, Longbow Asset Management, Microsoft, Coffee Fest, UBS, Deutsche Bank Locations: Seattle, Paycom, West Richland , Washington, Coffee, Los Angeles

☆ A note from Business Insider's new CEO
▼ + stars: | 2023-11-14 | by ( Barbara Peng | ) www.businessinsider.com time to read: +3 min

Today I am excited to share some news: we're officially returning to the name Business Insider. There is so much I love about Business Insider. Two years later, we adopted the name Business Insider. We help them discover the ideas and the people who are changing business, tech, and beyond. A future as Business Insider reaffirms our center of gravity around business, tech, and innovation.

Persons: we're, It's, We've, Henry Blodget, —, Henry, doesn't, we've, We'll, – Organizations: Business, Financial Locations: New York, London

☆ Business Insider changes back to its former name as Henry Blodget leaves CEO role
▼ + stars: | 2023-11-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Henry Blodget is stepping down as chief executive of Insider, a business news-focused website he co-founded in 2007 that has undergone many reinventions. In a statement, the company said she “played a pivotal role in skillfully steering Business Insider through the challenges of a pandemic and the sharp downturn in the advertising industry, while simultaneously fine-tuning Business Insider’s strategy.”Blodget, a former analyst who was charged with civil securities fraud in 2003 and barred from the securities industry, isn’t leaving Business Insider. The publication was originally named “Silicon Alley Insider” when it was launched in 2007, focusing on coverage of the New York business community, before changing its name to Business Insider two years later. A general news website called “Insider” was launched a year later. A return to Business Insider “reaffirms our center of gravity around business, tech, and innovation,” Peng wrote.

Persons: New York CNN — Henry Blodget, Barbara Peng, “, ”, Axel Springer, ” Peng, we’ve Organizations: New, New York CNN, “, Business Locations: New York

Peng Zhao, CEO, Citadel Securities speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. If Citadel Securities were to obtain a licence, it would be the first foreign firm to formally foray into market-making in China outside interbank and foreign exchange market making. "We are pleased to see the introduction of the market-making program in China," Zhao told Reuters in an interview in Hong Kong. Citadel Securities in July appointed Tony Tang, the former head of BlackRock's China business, to helm its China operations. This year, Citadel Securities also launched an investment-grade corporate bond market-making business in the United States.

Persons: Peng Zhao, Mike Blake, Zhao, Ken, Tony Tang, Summer Zhen, Selena Li, Sumeet Chatterjee, Edwina Gibbs Organizations: Citadel Securities, Milken, Global Conference, REUTERS, Reuters, Beijing Stock Exchange, Nasdaq, China's Stock, Treasuries, Asia, Thomson Locations: Beverly Hills , California, U.S, HONG KONG, China, interbank, Hong Kong, United States, Beijing, Asia

☆ San Francisco Cleans Up for Xi. Why Not for Thee?
▼ + stars: | 2023-11-13 | by ( James Freeman | ) www.wsj.com time to read: 1 min

Chinese Communist dictator Xi Jinping in Beijing on Friday. Photo: Ju Peng/Zuma PressAfter only recently agreeing to normalize trade relations with the United States, San Francisco now seems to be granting most favored visitors status to a group including a ruthless dictator. This week Chinese communist thug Xi Jinping will enjoy a city that has been spruced up for the Asia-Pacific Economic Cooperation summit. San Francisco residents are asking why they can’t enjoy streets that are safe and clean all the time. Morris reports for The San Francisco Chronicle:

Persons: Xi Jinping, Ju Peng, Morris Organizations: Communist, Zuma Press, Economic Cooperation, San Francisco Chronicle Locations: Beijing, United States, San Francisco, Asia

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

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