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☆ IMF raises its Asia growth forecast for 2024, highlights India's growth and China stimulus as key drivers
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

The International Monetary Fund raised its Asia growth forecast for 2024 on Tuesday, as it remained optimistic about India's growth and focused on the need for more stimulus from China. The IMF now expects Asia's economy to grow 4.5% this year, up 0.3 percentage points from six months earlier. The upward revision reflects upgrades for China, the IMF said, where it expects policy stimulus to provide support. India is currently the world's fifth-largest economy with GDP of $3.7 trillion and is aiming to become the world's third-largest by 2027. IMF's Srinivasan also wrote that strong private consumption will continue to drive growth in Asia's other emerging markets.

Persons: Krishna Srinivasan, IMF's Srinivasan Organizations: Monetary Fund, IMF Locations: Asia, China, Pacific, India

☆ IMF's Srinivasan: Inherent dynamism in APAC region
▼ + stars: | 2024-04-19 | 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 EmailIMF's Srinivasan: Inherent dynamism in APAC regionKrishna Srinivasan, IMF's director of the Asia and Pacific department, speaks to CNBC's Karen Tso.

Persons: IMF's Srinivasan, Krishna Srinivasan, Karen Tso Locations: Asia, Pacific

☆ Robo-lawyer startup DoNotPay did something almost unheard of in Silicon Valley: It paid a dividend.
▼ + stars: | 2024-04-01 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

In January, the legal startup DoNotPay sent more than $1 million to employees and investors in its first-ever dividend. He got the idea from one of his own angels, Sahil Lavingia, whose startup Gumroad issued a dividend last year. The expectation is that when a company sells or goes public, employees will cash in their shares for untold riches. Last year, the digital commerce startup Gumroad paid a dividend of $1 million across employees, investors, and thousands of crowdfunding backers. Cash rewardsBrowder said he wanted to offer a dividend to reward those employees and investors who bet on the startup early.

Persons: Joshua Browder, Browder, DoNotPay, it's, Sahil Lavingia, Josh Seidenfeld, Cooley, Steve Huffman, Spencer Platt, Seidenfeld, Lavingia, Andreessen Horowitz, Greylock, Dylan Field, Scott Belsky, Daniel Dines, Balaji Srinivasan, Cash, there's Organizations: Business, Big Law, Employees, Founders Fund, Adobe Locations: San Francisco

☆ Enhanced Games Are Olympics With Steroids, Pay; Meet the Founder
▼ + stars: | 2024-03-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +14 min

Several countries pay bonuses to medal winners, and high-profile athletes may get brand deals and sponsorships, but many Olympic athletes live quiet lives. AdvertisementD'Souza suggested he received funding for the Enhanced Games in the "single-digit millions" but declined to specify the amount. So far, it's unclear what kind of talent Enhanced Games will attract. He said that at the Enhanced Games, athletes would get comprehensive health checkups to monitor the effects of "whatever enhancement protocols" they're on and ensure they're fit to compete. D'Souza said he planned to announce more details about the Enhanced Games this summer — right around the Paris Olympics.

Persons: Aron D'Souza, gymgoers, D'Souza, Thomas Bach, Bach, Uber, Christian, Christian Angermayer, Balaji Srinivasan, Coinbase's, Peter Thiel, Angermayer, Srinivasan, Thiel, Hulk, Charles Harder, Harder, didn't, Sargon, Peter, VCs, Thiel hasn't, he's, James Magnussen, James, he'd, Marta Nawrocka, BI's Gabby Landsverk, Jim Walden, Grigory Rodchenkov, it's, who'd Organizations: International, Olympic, IOC, West Germany's Olympic, The New York Times, Business, Apeiron Investment, University of Melbourne, Gawker Media, BuzzFeed, Gawker, Abrams, Australian Financial, US, Doping Agency, UFC, Drug Free, NFL, NBA, MLB, Testing Agency, ITA, CNN, FBI, Sports, Gaming Initiative, Paris Locations: Miami, Lausanne, Switzerland, Oxford, Australian, Russia

☆ How the Supreme Court’s decision on Trump’s immunity could turn on a single question
▼ + stars: | 2024-02-29 | by ( John Fritze | Tierney Sneed | ) edition.cnn.com time to read: +6 min

CNN —The Supreme Court will likely produce thousands of words when it decides this year whether former President Donald Trump may claim immunity from special counsel Jack Smith’s election subversion charges. Every time the Supreme Court grants an appeal it settles on a specific legal question to resolve. In the immunity matter, the court didn’t embrace Trump’s framing – nor the question Smith posed when he sought review on the same issue in December. “The question implicitly rejects Trump’s position of absolute immunity because of that language ‘whether…and to what extent,’” Eisen said. By taking the appeal, the Supreme Court has effectively pushed back the start of a trial in the federal election subversion case by weeks, at least.

Persons: Donald Trump, Jack Smith’s, ”, Norm Eisen, Obama, Trump, Smith, ” Eisen, “, there’s, Andrew McCabe, –, Ty Cobb, Trump’s, Mark Meadows, William Pryor, George W, Bush, ” Pryor, Meadows’s, Sri Srinivasan, Barack Obama Organizations: CNN, Trump, Court, Senate, Trump White, DC Locations: –, Georgia

☆ Australia’s Great Barrier Reef suffers ‘extensive’ coral bleaching, as scientists fear seventh mass bleaching event
▼ + stars: | 2024-02-29 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

CNN —The southern Great Barrier Reef is suffering from extensive coral bleaching due to heat stress, the reef’s managers said Wednesday, raising fears that a seventh mass bleaching event could be unfolding across the vast, ecologically important site. Jonas Gratzer/LightRocket/Getty ImagesThe Great Barrier Reef’s managers plan to extend aerial and in-water surveys across the entire reef over the coming weeks. Hotter ocean temperatures caused severe mass bleaching at the Great Barrier Reef in 2016, 2017 and 2020. Last year, the UNESCO World Heritage Committee decided not to add the Great Barrier Reef to its list of sites “in danger,” despite scientific evidence suggesting the risk of another mass bleaching event. Greenpeace’s Ritter said that following the decision, “the Australian government promised to do everything it can to protect the Great Barrier Reef.

Persons: Mark Read, Elliot, Jonas Gratzer, ”, Neal Cantin, Maya Srinivasan, ” Srinivasan, ” David Ritter, “, ” Ove Hoegh, Greenpeace’s Ritter Organizations: CNN, Park Authority, Australian Institute of Marine Science, El, James Cook University, Marine Park Authority, Greenpeace Australia Pacific, Foundation, Oceanic, UNESCO World Heritage Committee, Labor Locations: Keppel, Gladstone, Queensland, Australia, Cairns, Florida, Caribbean

☆ Civil lawsuits seeking to hold Trump accountable for January 6 can move forward
▼ + stars: | 2024-02-16 | by ( Devan Cole | ) edition.cnn.com time to read: +4 min

CNN —Civil lawsuits seeking to hold Donald Trump accountable for the January 6, 2021, US Capitol attack can move forward after the former president declined to ask the Supreme Court to decide whether he is shielded by presidential immunity. The decision means the lawsuits will move to a fact-finding phase at the trial-level federal court in Washington, DC. The case could still eventually come before the Supreme Court. Lower courts sided with the plaintiffs as Trump sought to have the cases dismissed based on his claims of presidential immunity. The Supreme Court is still considering whether to step into Trump’s federal criminal case related to January 6.

Persons: Donald Trump, Trump, Jack Smith, “, ”, Sri Srinivasan, Smith, CNN’s Katelyn Polantz, John Fritze, Holmes Lybrand Organizations: CNN, Trump, Democratic, US Capitol Police, DC, Appeals, Capitol, DC Circuit Locations: Washington ,

☆ Peter Thiel invests in group to recreate the Olympics on steroids — literally
▼ + stars: | 2024-01-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Peter Thiel has invested in an effort to create an Olympic Games that welcomes doping. The PayPal cofounder was one of several investors named Wednesday in the Enhanced Games. AdvertisementPeter Thiel is backing an effort to create an Olympic Games that welcomes using performance-enhancing drugs. The Olympic Games bans the use of hundreds of medications and drugs, including categories like stimulants, anabolic agents, and hormone and metabolic modulators. Just this week, Russian figure skater Kamila Valieva was retroactively disqualified from the 2022 Beijing Olympic Games after the Court of Arbitration for Sport ruled she'd violated anti-doping rules.

Persons: Peter Thiel, —, Balaji Srinivasan, Aron D'Souza, Michael Sagner, Kamila Valieva Organizations: Games, PayPal, Service, Apeiron Investment Group, King's College London, Medical Advisory Commission, Olympic Games, Beijing Olympic Games, Sport Locations: Russian

☆ Leaked memo: Google is laying off hundreds of employees in its advertising sales team
▼ + stars: | 2024-01-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +6 min

Google is laying off "several hundred" employees in its advertising sales team, Business Insider has learned. Schindler wrote that the cuts were the result of changes being made to how Google's sales team operates. BI previously reported that Google was shifting more staff away from Large Customer Sales (LCS), a team that serves the company's bigger advertising clients, to its Google Customer Solutions (GCS) team, which serves more medium-level clients. This reorg is the next evolution of that as cuts appear to be primarily targeted at the LCS team. Our goal has always been to have the right customer, mapped to the right channel for growth, with the best support models and streamlined operations.

Persons: Philipp Schindler, Google's, Schindler, Max, Chris Pappas, Jerry Dischler, Vidhya Srinivasan, Here's, we've, we're, I've, we'll, Philipp Organizations: Google, Business, BI, LCS, Alphabet Workers, Global, Solutions

☆ AI can now tell if your Louis Vuitton handbag is fake
▼ + stars: | 2023-12-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Tech company Entrupy says its device can authenticate handbags from brands like Louis Vuitton and Chanel. The AI authenticator is gaining renewed interest as companies seek to cash in on the AI hype. And interest in the AI tool may continue to grow as businesses seek to cash in on the AI hype. Currently only available to resellers of luxury goods, Entrupy claims its tool can authenticate products from luxury brands like Balenciaga, Burberry, Gucci, and Louis Vuitton. Two months later, Humane.ai, an AI startup, launched its AI pin — which the company says can project information onto a user's palm through light — to the market.

Persons: Entrupy, Louis Vuitton, Chanel, —, Gucci, Vidyuth Srinivasan, Elle, there's, that's, TikTok, Entrupy didn't, Meta Organizations: Tech, Service, Burberry

☆ Trump is showing how a second term would rewrite the rules of presidential power
▼ + stars: | 2023-12-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump is underscoring the profound choice that voters could face next year with expansive claims of unchecked presidential power alongside increasingly unapologetic anti-democratic rhetoric. This has huge consequences not simply for the courtroom accounting that is yet to take place over his first turbulent term. If the twice-impeached former president wins the Republican nomination and the presidency, it is already clear that a second term would risk destroying the principle that presidents do not hold monarchial power. “Joe Biden is not the defender of American democracy,” Trump said during a campaign stop in Cedar Rapids, Iowa, on Saturday. And if he succeeds in 2024, his legal arguments will have been a warning of a second term that he envisions with almost no guardrails.

Persons: Donald Trump, – he’s, Joe Biden, ”, He’s, Tanya Chutkan, Trump, Chutkan, Biden, “ Joe Biden, ” Trump, … it’s, –, Trump’s, Ron DeSantis, “, ” DeSantis, Liz Cheney, Mike Johnson, ” Cheney, Washington , South Carolina Republican Sen, Lindsey Graham, CNN’s Dana, Cheney, ” Graham, Liz Cheney's, Sri Srinivasan, Steven Sadow, ” Chutkan Organizations: CNN, Republican, US, GOP, Florida Gov, Trump –, Trump, Republican Party, CBS, Washington , South Carolina Republican, Union ”, ”, Capitol Locations: Cedar Rapids , Iowa, Iowa, Florida, Wyoming, Congress, United States, Washington , South, “ State, Washington , DC, ”, Fulton County , Georgia

The question of executive immunity in cases of criminal prosecution for a president has never been settled, and Trump’s interpretation of it is far from universally agreed upon. “When a first-term President opts to seek a second term, his campaign to win re-election is not an official presidential act,” wrote Chief Judge Sri Srinivasan of the D.C. “The Office of the Presidency as an institution is agnostic about who will occupy it next. And campaigning to gain that office is not an official act of the office.”A president, Srinavasan wrote in the 67-page opinion, “does not spend every minute of every day exercising official responsibilities. The opinion was joined by Judge Greg Katsas, who was appointed by Trump, and partly by Judge Judith Rogers, who was appointed by former President Bill Clinton.

Persons: Donald Trump’s, ”, Sri Srinivasan, Srinavasan, “, Donald Trump, Srinivasan, Barack Obama, Greg Katsas, Judith Rogers, Bill Clinton, throngs Organizations: Capitol, U.S . Capitol Police, Trump, Appeals, Presidency, Donald Trump View

☆ Trump doesn’t have presidential immunity from lawsuits over January 6, appeals court rules
▼ + stars: | 2023-12-01 | by ( Katelyn | Holmes Lybrand | ) edition.cnn.com time to read: +3 min

Washington CNN —Former President Donald Trump isn’t immune from being held accountable in civil lawsuits related to the January 6, 2021, US Capitol riot in a long-awaited, consequential decision from the federal appeals court in Washington, DC. The decision arises out of lawsuits brought by Capitol Police officers and Democrats in Congress. The district court did find that Trump was protected by presidential immunity from the claim that he failed to stop to the riot, saying that he would be acting in his official presidential powers in that instance. Trump still will be able to contest the facts of the case as the lawsuits move forward. The appeals court said Trump also may be able to make more arguments around immunity before the January 6 lawsuits move into extensive evidence-gathering phases.

Persons: Donald Trump, Sri Srinivasan, “, Greg Katsas, Judith Rogers, Trump Organizations: Washington CNN, Capitol, Trump, Capitol Police, Congress, DC, Appeals, Democratic House Locations: Washington ,, Washington, DC

☆ Trump not immune from Capitol riot lawsuits, appeals court rules, opening door to monetary damages
▼ + stars: | 2023-12-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Donald Trump does not have immunity from civil lawsuits related to the U.S. Capitol riot, a federal appeals court panel unanimously ruled Friday. The ruling does not say that Trump is liable for allegedly inciting, while president, the Jan. 6, 2021, attack on Congress by a mob of his supporters, which injured more than 100 police officers. The ruling came after Trump, the front-runner for the 2024 Republican presidential nomination, challenged the federal district court lawsuits filed against him. Srinivasan, who was appointed to his seat by former President Barack Obama, was joined in the ruling by Judge Judith Rogers and Judge Gregory Katsas. Katsas was appointed by Trump and previously was a clerk for conservative Supreme Court Justice Clarence Thomas.

Persons: Donald Trump, Trump, Joe Biden, Sri Srinivasan, Srinivasan, Barack Obama, Judge Judith Rogers, Gregory Katsas, Katsas, Clarence Thomas, Rogers, Bill Clinton Organizations: U.S, United States Capitol, Capitol, Trump, U.S ., Appeals, District of Columbia Circuit, Supreme Court, Democrat Locations: Washington , U.S

☆ Google is replacing the exec who oversees its $220 billion ad business amid big privacy and AI changes
▼ + stars: | 2023-11-29 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Dischler has spent 15 years at Google, and was most recently leading all of Google's ad business. He is credited with steering Google through privacy changes and for overseeing new uses of technology like machine learning and artificial intelligence for its advertising business. Dischler helped spearhead Google's advertising efforts around Google's Chrome web browser phasing out third-party cookies. "Our ads business helps millions of businesses thrive and we're grateful to Jerry for his many accomplishments in this area." Before joining Google, Srinivasan worked at Amazon and IBM.

Persons: Jerry Dischler, Dischler, Google's Prabhakar Raghavan, Jerry, Vidhya Srinivasan, Srinivasan, Max, Raghavan, Srinivasan's, Shashi Thakur, nix Organizations: Google, Business, Department, YouTube, Amazon, IBM, Justice Department

☆ NASA mission achieves most distant demo of laser communications across space
▼ + stars: | 2023-11-24 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —An innovative experiment flying aboard NASA’s Psyche mission just hit its first major milestone by successfully carrying out the most distant demonstration of laser communications. The tech demo was designed to be the US space agency’s most distant experiment of high-bandwidth laser communications, testing the sending and receiving of data to and from Earth using an invisible near-infrared laser. NASA/JPL-CaltechIt’s not the first time laser communications have been tested in space. The first test of two-way laser communication occurred in December 2021 when NASA’s Laser Communications Relay Demonstration launched and went into orbit about 22,000 miles (35,406 kilometers) from Earth. And the Artemis II spacecraft will use laser communications to return high-definition video of a crewed journey around the moon.

Persons: Psyche, DSOC, Hale, ”, Trudy Kortes, Meera Srinivasan, Artemis, DSOC won’t, Jason Mitchell Organizations: CNN, NASA, Optical Communications, California Institute of Technology’s, Jet Propulsion Laboratory, JPL, Caltech, Space Technology, Psyche’s, Hale, DSOC, NASA’s, Advanced Communications, Navigation Technologies, NASA’s Space Communications Locations: Pasadena , California, DSOC, Wrightwood , California

☆ Goldman Sachs just promoted 608 employees to the coveted role of managing directors. See the full list here.
▼ + stars: | 2023-11-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

Goldman Sachs announced its 2023 class of managing directors Thursday afternoon, giving 608 employees the coveted title. It's a smaller cohort than the bank's 2021 MD class, down 5% amid a dealmaking slowdown. Still, Goldman appears to have taken pains to promote employees in revenue-generating divisions like investment banking and trading. Goldman says the percentage of women it promoted as part of the 2023 MD class sets a record, up 1% from 2021. Two years ago, Goldman promoted the largest managing director class in its history, naming 643 employees to the designation in 2021.

Persons: Goldman Sachs, Goldman, David Solomon, John Waldron, we've, Solomon, Waldron, Goldman Sachs Fereshteh Abbasi Thomas Abe Devina Abreo Francesca Adamski Emmanuel Adenitire Gopal Agarwal Prasoon Agarwal Udit Agrawal Khamran Ali Omar Alzaim Dorothee Amar Akbar Amin Joe Amsler Wilfred Amuri Jack Anstey Paul Antonios Hidemi Aoki, Carolina Aragon Gonzalez Nelson Armbrust Georgina Aspden Laurene, Gisha, Sharon Babick Navin Babu Alexey Bachurin Alberto Bacis Patrick Badaro Rahul Bajaj Elise Bal Tanya Ballaram Brian Baltz Guillaume Banderet Nirav Bansal Nitin Bansal Swati, Chalapathi, Andrei Banu Camella Barnes James Barry Elisa Anna Bassu Aman Batra Eleanor Beasley Nicole Beavan Michael Becker Yukiko Beer Omar Benchekroune Richard Bennett Nigel Beslee Ashima Bhalla Nikhil Bhandari Nimita Bhargava Bodha Bhattacharya Rebecca Bibb Roseline, Rahul Bindu Mark Bird Leo Biselman Christian Blanc Patrick Bogues Michael Boratin Katherine Bordlemay Gabriela Borges Kate Boucher Erik Bouland Joanne Braidi Chris Brett Joseph Briggs Charles Brockett Emmeline Brothers Aaron Brown Adrienne Brown Kevin Bryck Archana Budida Oliver Bunn Rebecca Burgoyne Andrew Burpitt Todd Byers Patrick Byrne Michael Cahill Ashley Caldwell Jake Caldwell Serdar Caliskan Jon Calluzzo Stewart Campbell Samantha Cantor Yuri Cantor Dan Carabas Gemma Carlaw Laura Carroll Tim Carson Matt Carter Quentin Cezard Alex Cham Simon Chamama Heidi Chan Patrick Chan Suraj Chandran Kim Cheah Jon Cheh CP Chen Nelly Cheng Sarrah Cherhabil Jackson Cheung Michael Cheung Rama, Stan Chiu Anish, Kunal Choraria Ankit Chowdhari Dario Claus Cosimo Codacci, Michael Coleman David Collerd Shannon Collins Francesca Condini Lee Coppersmith John Couch Tim Creamer Maziar, Satish Damodaran Gareth Davies Serkan, Nick De Kock Ann de la, Nick De Kock Ann de la Montaigne Jan Debeuckelaer Molly Decker Gabrielle Decrion Laurent Dedieu Antoine Demongeot Yannick Derippe Deepalakshmi Desai Tim Desiano Joshua Dezube Randeep Dhillon Javier Diaz, Merry Matheus, Jared Dickow Alex Doell Mao Dong Praneil Doolabh Daniel Dooling Michelle Dorea Szymon Doroz Jacqueline Du Benjamin Duell Kelsey Dumont Julie Duval Todd Ebe Dayo, Jeremy Eisenstein Chris Elmore Ryan Erickson Joaquin Escribano Larry Estrada Pavel Fadeev Will Fairbourn Jeremy Falgiani Fabio Federici Wenlong Fei David Felman Sophia Ferguson Zach Fernandez David Fernandez Miguez Scott, William Fio Rito Duffy Fischer Lisa Florentine Akshay Fomra Janice Foo Nicholas Forbat Elie Franko Georgina Fraser Jason Freeman Nicole Freeman Oliver Friedberg Gavriel Friedland Ross Fuller Angela Fung Greg Furness Nikhil Gadodia Stefano Gamba Amit Singh Gambhir Javier Gandara Giorgio Gandola Amit Gangrade Sudha Garimella Mima Garland Mingmin Ge Graziano Gemma Shefali Gera Constance Germain Brad Gifford Benjamin Giles Abbas Ginwala Marlene Giorgio Thomas Giovachini Zachary Glasser Guillaume Gnech Harley Golding Yuriy Goldman Jesse Goldstein Roy Golender Sharon Gonnella Alejandro Gonzalez Steven Gooden Jessie Gould Varun, George Graf von Waldersee Florian Granier Jamie Greenberg Brian Grzelakowski Alessandro Guicciardi Michael Guiliano Samuel Guinness Bivash Gunpath Deepa Gupta Parikshit Gupta Lauren Gutierrez Johannes Hahn Chris Hallam Alex Halpern Christina Halpin Michael Hamilton Brooke Hammel Saki Hanioka John Hanson Mathew Harris Ally Hart Amy Harwood Tom, Emily Hashimoto Rob Haslam Michael Heino Brandon Herde Sarah Higgins Camilla Hill Spencer Hill Sho, Cecilia Ho Jonathan Ho Bryan Hoffman Kevin Hoffmeyer Eliza Hollyday Simon Holmes Mehdi, Lily, Derek Hu Jennifer Hui Tim Huiszoon Camille Humbert Kurt Humes Kelley Hutchison Masayuki Ichioka Andrew Imber Calvin Isaac Jackson Isaacs Sharif Ismail Yu, Doug Michael Jaffa Nitin Jagga Rahul Jain, Jataprolu Fiona Jervis Yinpeng Jin Sandeep Jindal Jennifer Jochinger Steven Johnson David Johnstone Megan Jordan Nicolas Joseph Bob Kadel Jean Kam Harneet Kaur Vinay Kaura Peter Kelman Stephanie Kenary Maggie Keohan Humayun Khalid Sunil Khandelwal Scott Kilpatrick Jenny Kim Ashley King Joel Klaus Rene Klos Rossitsa, Michael Kondoleon Gregory Kontopoulos Larry Kornreich Shrivathsa Kota Konrad Krallmann Ken Kraska Alexander Kretzberg Bryant Krongard Simon Kubbies Adam Kulik Peter Kulka Ajeya Kumar Aditya Kurella Sara Lachapelle Raagini, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary LeDonne, Allison Lee Michael Lee Soohyun Lee Victoria Lewis Alice Li Qing Li George Lin Ali Lippert David Lipworth Bozhena Lisko, Murphy Mark Littlewood Zhenyi Liu Yelli Lobel Avinash Lobo Burke Loeffler Gabriela Lopez Cristian Lopez, Balboa Carlos Lopez Torrero Stephanie Louie Edward Lowe Reynolds Lowry Fei Luo Ranjan Luthra Sangeetha M Martin Ma Matthew Maciaszek Michael Magee Steffen Mahringer Poonam Majithia Terres Maloney Gopal Manchikanti Jade Mandel, Manfay Varun, Pierre Marboeuf Matt Margolin Thiago Marinheiro Kevin Martens Masato Maruyama Lucinda Mataka Rishi Mathur Pierre Maugest Scott Maxfield Andrei Maxim Michael McClurg Selina McCole Jeff McCown Andrea McGee Sinead McGuigan John McGuinness Benjamin McRoberts Amit Mehrotra Gaurav Mehta Kelly Mellecker Josef Menasche Raf Mercado Alexander Mielke Rachel Miles Christopher Miller Megan Miller Robert Miller Max Minton Edward Mitchell Oliver Money Tyler Moni Anna Montvai Taylor Moore Anthony Moschella Brandon Moy Faraz Munaim Sasha Munn Ashok Musuvathy Negar, Julian Naden Robinson Hiroki Nagamine Srijith Nair Cornelius Namiluko Sanjiv Nanwani Jay Narain Robert Andranik Nazarian Jovan Negovan Ryan Newman Michael Ng, Tasuku Nishihara John Nixon Kristy Nomi Alexandre Nunes Patrick O'Callaghan Yusuke Ochi KC O'Connor David Olivares Erica Olsen Victoria Ortengren Anas, Peter Pace Robert Packwood Nitin, Ellen Pak Ruth Pan Pedro Panizo Jayshri, Rahul Parikh Dan Parisi Freddie Parker Phil Parsons Peter Paruch Paul Pate Bella Patel Preya Patel Rakesh Patel Amit Patni Ed Paulinski Adam Pennacchio Kyle Penton Abhishek Periwal Michael Perrier Yoric Perrin Rasmus Persson Tommy Pinhas, Marco Poletti Megan Prasad Avijit Praveer James Puccinelli Sameer Punde Rob Pyne Na Qiao Valentina Quadri Marco Quirico Anya Radford Abhishek Rai Rahul Raj Ram Rajamony Ryan Ramsay Rami Rankoussi Nach Rao Pawan Rao Anurag Rathi Philip Renton Noel Reyes Ruth Reynolds Timothy Richards Peter Richter Brigid Riley Hutchinson Nick Rill Kristina Ristagno Vicky Ritter Martin Roberson James Roberts James Robinson Giorgio, Erin Roos Erin Ross Sumit Roy Conrad Ryan Soo, Ryu David Sage Jai Sahani Namita, Sarah Sakkej Karim Saleh Ayesha Salman Divya Samani Henrik Samuelsson Ryan Sansalone Vikram Sarker Shalini Satish Babu Charlotte Saury, Hania Schmidt Helene Schmitt Emily Schorr Wendy Schrunk Thomas Schwegler Michael Sciancalepore Brandon Seaman Benjamin Seigel Gamal Selvarajah Nicholas Semeniuk Devjoy Sengupta Michael Shafik Arpan Shah Shashwat Shah Shahnawaz Shahbaz Manoj Sharma Sachin Sharma Wazila, Gunduz Shirin Alex Silver Asmita Singh Kamalpreet Singh Andrew Sinnott Sapna, Dan Skinner Andrew Snow Stephanie Snyder Farouk Soussa Christopher Spahr Erik Sparks Matt Speltz Naveen Srinivasan Bhargav, Warren, Damian Steele Tobias Stein Catherine Stemp Dave Stringer Shekar Subramanian Jordan Sudy Philipp Suess Fatima Sultana Lu Sun Kumar Sundaram Fiona Syer Matthew Sykes Tofi, Filippo Taddei Sandhya Tadishetty Omer Tanvir Rita Taylor Zachary Tcheyan Brian Teague Wesley, Caitlin Terry Thomas Tesauro Hemal, Justin Therry Christine Thornburg Gregory Thysheril Angelo Tierno Alexander Tingle Ryan Townsend Cynthia Trillo Dimitris, Jessica Tung Jonathan Tung Ezgi, Zachary Upcheshaw Kiyomi, Nadine Urseanu Jim Vais Pim Valantagul Perrin Van Allen Annerieke van Dijk Jeroen van Dorp Dennis van Laer Todd van Stolk, Riley Jacqueline Vargas Alexander Vavalidis Edwin Velez Prasanna Venugopal Tim Verheyden Amanda Verstegen Ankit Vijay Vargiya Salvador Villanueva Arthur Villard Sichel Denzel Voesenek Bradley Wainwright Adam Walker Barbara Walters Omar Waly Daniel Wang Kenneth Wang Kristen Ward Gavin Warren Michael Washington Harry Webster Fredrik Weege Brian Weiss Thomas Weitz Nat Wells Joe Wenzel Tim Whitehead Henry Willans Matthew Williams Taylor Williams Katie Wilson Richard Wilson Stephanie Wisner Ilana Wolfe Jake Woodson Jeff Wu Qi Wu Jackson Yang Esma, Yoon Harm, John Zhai Jenny Zhang Lynn Zhang Raye Zhu Jane Zhuang Hans Zijlmans Carolyn Zimmer Samia Zitouni Mira Zorkot Organizations: Goldman, Wall, Carolina, Nick De Kock Ann de la Montaigne, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary Locations: Europe, Asia, India

There is a new poster child of China’s protracted real estate crisis — Country Garden. Country Garden has not responded to requests for comment by phone or email. Here’s what to know about the rise and fall of Country Garden, and the future of China’s once red-hot property sector. Until last year, Country Garden was China’s biggest real estate developer, specializing in residential property. While confidence in China’s real estate sector has been shaky since the collapse of Evergrande, Country Garden reignited fears in August when its liquidity crisis burst into public view.

Persons: Evergrande, Yang Huiyan, Krishna Srinivasan, ” Organizations: Hong Kong CNN, Bloomberg News, Financial Times, Citigroup, Hong Kong, Country Garden, Seng, International Monetary Fund, National Bureau of Statistics, Pacific Department Locations: Hong Kong, Foshan, Guangdong province, China, United States, Evergrande, Beijing, Asia

☆ Country Garden and China's housing market struggle will weigh on global growth
▼ + stars: | 2023-10-19 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s real estate market remains a drag and will put pressure on global growth. The data comes at a time when Country Garden, once the country’s biggest homebuilder, is fighting for its life. The property slowdown will impact not just China, but also global growth, the International Monetary Fund (IMF) said on Wednesday. Global impactThe IMF said China’s property downturn will weigh on global growth prospects. Country Garden issued a statement on Thursday, threatening to pursue legal action against anyone spreading “malicious rumors” about its founder fleeing the country.

Persons: Hong Kong CNN —, ”, Krishna Srinivasan, Srinivasan, Yang Huiyan, Yang Guoqiang Organizations: Hong Kong CNN, National Bureau of Statistics, International Monetary Fund, NBS, IMF, Pacific Department Locations: China, Hong Kong, Beijing, Ukraine, Asia

☆ TikTok lures luxury-bag buyers to its Shop platform as it partners with Entrupy to authenticate purses
▼ + stars: | 2023-10-18 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

TikTok is working with Entrupy, a maker of product-authentication technology, to offer handbag-authentication services on its new e-commerce platform, TikTok Shop , Entrupy announced Wednesday. The partnership reflects a growing effort to build trust in TikTok Shop as the social-media company looks to establish itself as a shopping destination. It expanded to TikTok Shop in response to a growing demand for its services on the platform. TikTok and Entrupy have worked together since TikTok Shop launched in beta earlier this year. Resellers must use a third-party authentication service — either Entrupy or Real Authentication — to resell luxury handbags on TikTok Shop, according to the policies.

Persons: TikTok, Entrupy, Chanel, Prada, Vidyuth Srinivasan, Srinivasan, it's Organizations: Burberry, TikTok, eBay Locations: Entrupy, mstone@insider.com

☆ IMF warning on China puts 'Japanization' risk in spotlight
▼ + stars: | 2023-10-16 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

"Under the Xi administration, China probably shifted its attention away from economics," he told Reuters. "What's fast emerging is the risk of China slipping into deflation, or the 'Japanization' of its economy," Bank of Japan (BOJ) board member Asahi Noguchi said on Thursday. In its World Economic Outlook, the IMF cut China's growth forecast for this year to 5.0% from 5.2% in April, and warned that its property sector crisis could deepen with global spillovers. To be sure, there are differences between what is happening in China and the experience of Japan. "Overall, we believe that China can avoid a prolonged period of sub-par growth with the right policies," Srinivasan said, when asked about the chance of "Japanization" in China.

Persons: Aly, Hiroshi Watanabe's, Hiroshi Watanabe, Japan's, Watanabe, Xi, Asahi Noguchi, Krishna Srinivasan, Srinivasan, doesn't, Leika Kihara, Tetsushi Kajimoto, Chizu Organizations: China Evergrande Group, REUTERS, Japan, Reuters, International Monetary Fund, World Bank, Bank of Japan, Economic, Pacific Department, Thomson Locations: Danzhou, Hainan province, China, Japan, MARRAKECH, Morocco, Marrakech, Asia, Beijing, Tokyo

☆ Analysis: IMF warning on China puts 'Japanization' risk in spotlight
▼ + stars: | 2023-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Persons: Aly, Hiroshi Wanatabe, Watanabe, Xi, Asahi Noguchi, Krishna Srinivasan, Srinivasan, doesn't, Leika Kihara, Tetsushi Kajimoto, Chizu Organizations: China Evergrande Group, REUTERS, Japan, Reuters, International Monetary Fund, World Bank, Bank of Japan, Economic, Pacific Department, Thomson Locations: Danzhou, Hainan province, China, Japan, MARRAKECH, Morocco, Marrakech, Asia, Beijing, Tokyo

☆ China should consider boosting consumption as real estate slump drags on, IMF says as it downgrades forecast
▼ + stars: | 2023-10-12 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

The slowdown in real estate is the main reason for China's sluggishness, Krishna Srinivasan, director of the Asia and Pacific department at the IMF said. "There has not been a comprehensive response to the problem and that has weighed both on investment in the real estate sector and consumer confidence." "One would have hoped that after China reopened, consumption would come back very strongly, but that has been undermined by confidence not coming back in the real estate sector," Srinivasan said. "A lot of the wealth is in the real estate sector, and that has not been resolved." The IMF trimmed its 2023 growth forecast for China's economy from 5.2% to 5% in its October update of its World Economic Outlook.

Persons: China's sluggishness, Krishna Srinivasan, Srinivasan Organizations: Economic, International Monetary Fund, IMF Locations: Asia, Pacific, China

Qualcomm has denied any wrongdoing and had asked the judge to reject the consumers' claims. The consumers' case was in Corley's court following a 9th Circuit ruling in 2021 that struck down an order certifying a nationwide consumer class action. In January, Corley dismissed core antitrust elements of the plaintiffs' claims but let the case move forward. The consumers' lawyers told Corley that "Qualcomm turns a blind eye to the massive evidentiary record" backing the consumers' allegations of exclusive dealing. The case is In re: Qualcomm Antitrust Litigation, U.S. District Court, Northern District of California, No.

Persons: Dado Ruvic, Jacqueline Scott Corley, Corley, Joseph Cotchett, Kalpana Srinivasan, Susman Godfrey, Robert Van, Van, Gary Bornstein, Richard Taffet, Morgan, Lewis, Bockius Read, Mike Scarcella, Leigh Jones Organizations: Qualcomm, REUTERS, Tuesday, U.S, Apple, U.S . Federal, Circuit, Qualcomm Antitrust Litigation, Court, Northern District of, McCarthy, Thomson Locations: California, San Francisco, San Diego, Northern District, Northern District of California, Cotchett, Pitre, U.S

A few compounds picked by AI are now in development, but those bets will take years to play out. Reuters interviews with more than a dozen pharmaceutical company executives, drug regulators, public health experts and AI firms show, however, that the technology is playing a sizeable and growing role in human drug trials. The U.S. Food and Drug Administration (FDA) said it had received about 300 applications that incorporate AI or machine learning in drug development from 2016 through 2022. Without AI, Bayer said it would have spent millions more, and taken up to nine months longer to recruit volunteers. Finding real-world patients by mining electronic patient data can be done manually, but using AI speeds up the process dramatically.

Persons: Dado Ruvic, Jeffrey Morgan, Amgen, Badhri Srinivasan, Sameer Pujari, drugmaker Bayer, Bayer, Blythe Adamson, Roche, Richard Pazdur, Gen Li, John Concato, Natalie Grover, Martin Coulter, Julie Steenhuysen, Josephine Mason, David Clarke Organizations: Pharmaceutical Research, REUTERS, Pharmaceutical, Bayer, Novartis, Deloitte, U.S . Food, Drug Administration, Reuters, World Health, Flatiron Health, FDA, European Medicines Agency, FDA's Oncology, Excellence, Medical, FDA's Center, Drug, Research, Thomson Locations: U.S, Johannesburg, Texas, Finland, United States, London, Chicago

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