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Beijing's goal now is to minimize any impact from potential sweeping sanctions from the West in "extreme geopolitical scenarios," such as a military conflict over Taiwan, which China claims as its territory, wrote Liu. "Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.
Persons: , Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia
Caledonia Investments could see its stock price soar by more than 35% if restrictions on share buybacks are lifted, according to fund manager Brian McCormick. McCormick, who runs the Jupiter Global Value fund at Jupiter Asset Management, said Caledonia's share buybacks are limited due to restrictions in share ownership as set out in the U.K.'s Takeover Code. In addition, when the fund performs a share buyback while its stock trades below its NAV, it is buying its own assets at a 37% discount. Caledonia's buyback limits When a company buys back shares, those shares are canceled, which can increase the percentage ownership of remaining shareholders. Analysts also agree that Caledonia's limits on share buybacks right now are holding back the share price.
Persons: Brian McCormick, Philip Morris, McCormick, Robert Memmott, Iain Scouller Organizations: Microsoft, Oracle, British American Tobacco, London Stock Exchange, Jupiter Asset, CNBC Pro, London Value Investor Conference Locations: Caledonia, United States
Big oil shareholders could get a lot richer
  + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.
Persons: Stewart Glickman, , “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, , Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, , McDonald’s, America, Mac, Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast
Agriculture Secretary Tom Vilsack has a line about the state of small-scale agriculture in America these days. It’s drawn from the National Agricultural Statistics Service, which shows that as the average size of farms has risen, the nation had lost 544,000 of them since 1981. “That’s every farm today that exists in North Dakota and South Dakota, added to those in Wisconsin and Minnesota, added to those in Nebraska and Colorado, added to those in Oklahoma and Missouri,” Mr. Vilsack told a conference in Washington this spring. “Are we as a country OK with it?”Even though the United States continues to produce more food on fewer acres, Mr. Vilsack worries that the loss of small farmers has weakened rural economies, and he wants to stop the bleeding. Unlike his last turn in the same job, under former President Barack Obama, this time his department is able to spend billions of dollars in subsidies and incentives passed under three major laws since 2021 — including the biggest investment in conservation programs in U.S. history.
Persons: Tom Vilsack, It’s, , ” Mr, Vilsack, Barack Obama Organizations: National Agricultural Statistics Service Locations: America, North Dakota, South Dakota, Wisconsin, Minnesota, Nebraska, Colorado, Oklahoma and Missouri, Washington, United States
Hong Kong CNN —Chinese leader Xi Jinping decried “tremendous sufferings” in the Middle East and called for an international peace conference as leaders from Arab nations visit Beijing this week amid mounting global concern over Israel’s war in Gaza. Justice should not be absent forever,” Xi said Thursday at the opening of a meeting between top diplomats from China and Arab states, also attended by several leaders from the region. Delegations from 22 Arab states joined that event at Beijing’s Diaoyutai State Guesthouse, according to Chinese state media. China has recognized a Palestinian state since 1988. Thursday’s ministerial meeting is the first such gathering since China held its first joint summit with Arab leaders in late 2022 in Saudi Arabia.
Persons: Xi Jinping, ” Xi, Israel, Xi, , Abdel, Fattah, Mohamed bin Zayed Al Nahyan, Bahrain’s King Hamad bin Isa Al Khalifa, Kais Saied, China “, Yun Sun, Fatah, Joe Biden, Jamal Khashoggi, Egypt’s Sisi Organizations: Hong Kong CNN, United Arab Emirates, States Cooperation Forum, Diplomats, Stimson, UN Relief and Works Agency for Palestine Refugees, of Locations: China, Hong Kong, Beijing, Gaza, , Palestinian, Rafah, United States, Israel, Washington, United, Palestine, Iran, Saudi Arabia, Istanbul
AdvertisementIn addition to his eBay store, Richard owns a vintage clothing store, The Spot, in Coral Springs, Florida. Advertisement"The customer for a Tommy Bahama shirt is totally different from a customer that wants a Nike skateboard shirt," he said. For example, if you're selling a Tommy Bahama shirt, don't just title your listing "Tommy Bahama shirt," he said. "If your title says 'Tommy Bahama Shirt Purple Monkey Dishwasher,' nobody is ever going to search that," he said. So every single time a customer searches 'Tommy Bahama Hawaiian Shirt,' I show up; 'Tommy Bahama Camp Shirt,' I show up.
Persons: , Richard, he's, Richard S, It's, Tommy Bahama, Bahama, Tommy Bahama Camp, that's, I'm, I've Organizations: Service, CVS, Circuit, Business, eBay, BI, Nike Locations: Coral Springs , Florida, South Florida
The work perk that GenZ really wants
  + stars: | 2024-05-29 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +1 min
Young workers value job flexibility nearly as much as competitive pay, a survey showed. Gen Zers prioritize flexibility for work-life balance, research indicates. Most Gen Zers prefer in-person or hybrid work setups over fully remote work. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFor some young workers, having flexibility in their jobs is nearly as important as how much they get paid.
Persons: Zers, Organizations: Service, Business
Kevin O'Leary said on Tuesday that he wants to crowdfund buying TikTok. The move comes after US lawmakers agreed on a plan to ban Chinese-owned TikTok unless it is sold. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The "Shark Tank" investor said on Tuesday that he set up a crowdfunding website to gauge interest in collectively buying the social media platform. The site allows anyone to "reserve" spots to become investors in the potential US version of TikTok.
Persons: Kevin O'Leary, Frank McCourt, Steven Mnuchin, , It's Organizations: Los Angeles Dodgers, Service
New York CNN —McDonald’s has a message for America: Rumors of Big Mac inflation are greatly exaggerated. “The average price of a Big Mac in the U.S. was $4.39 in 2019,” he said. That’s an increase of 21% (not 100%).”What Erlinger wants customers to know is not that high-priced McDonald’s burgers don’t exist at all. Erlinger is fighting back because McDonald’s pricey burgers have become something of a symbol of elevated fast food prices. “It’s imperative that we continue to keep affordability at the forefront for our customers,” McDonald’s CEO Chris Kempczinski said during an April 30 analyst call.
Persons: New York CNN — McDonald’s, McDonald’s, Joe Erlinger, , , they’re, Chris Kempczinski, NOA, Erlinger nodded, , Jordan Valinsky Organizations: New, New York CNN, America, McDonald’s, Mac, , Wall Street Journal, National Owner’s Association Locations: New York, McDonald’s USA, U.S
Robert De Niro outside Manhattan Criminal Court on May 28, 2024. CHARLY TRIBALLEAU / Getty ImagesThe Democrats seem to be using De Niro's feud against Trump again this year ahead of the 2024 elections. "Trump wants revenge, and he'll stop at nothing to get it." De Niro claimed in his speech that Trump wants to destroy New York, America, and the world. "I never knew how small, both mentally and physically, Wacko Former Actor Robert De Niro was," Trump wrote on Wednesday.
Persons: De Niro, Robert De Niro, CHARLY TRIBALLEAU, Trump, Harris, Niro, TRUMP, Biden Organizations: Biden, White, Truth, Radical Locations: Manhattan, New York, America
But this is the global system we do have and, within it, some billionaires are behaving much more generously and ethically than others. Melinda French Gates is one of the good ones. French Gates has long been an advocate for family planning and women’s rights abroad, and now she’s dedicating $1 billion through 2026 to those issues. Female billionaires, in other words, are far more likely than male ones to give away substantial portions of their wealth. So yes, we can applaud the good billionaires who give their wealth away, even if we think that they are representative of a bigger inequality problem.
Persons: Jill Filipovic, , Melinda French Gates, French Gates, it’s, She’s, Gates, MacKenzie Scott, Jeff Bezos, Scott, Forbes, Elon Musk, Larry Ellison, Warren Buffett, Larry Page, Ellison, Page, Buffett, Donald Trump’s, Sam Altman, Bill Gates, Scarlett Johansson, that’s, George Soros, doesn’t Organizations: Twitter, CNN, Gates Foundation, The New York Times, Forbes ’, Forbes, Elon, Facebook Locations: New York, United States, French, The, New Zealand, There’s
Can South Africa’s Opposition Parties Break Through?
  + stars: | 2024-05-29 | by ( John Eligon | ) www.nytimes.com   time to read: +2 min
Papi Mazibuko, a 50-year-old library assistant, decided it was time to switch teams and vote for the Democratic Alliance, the leading opposition party in the national elections in South Africa on Wednesday. The neighboring municipality, run by the Democratic Alliance, had a good record of delivering basic utilities. South Africa’s opposition has long failed to inspire voters, political analysts say. will fall below 50 percent of the national vote. A record 51 opposition parties on the national ballot are trying to sell South Africans on the idea that the country would be better off without the A.N.C.
Persons: Papi Mazibuko, Mazibuko, John Steenhuisen, , Andile Organizations: Democratic Alliance, African National Congress, Fighters Locations: South Africa, Evaton, Johannesburg
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. House Majority Leader Eric Cantor: Neither party wants to have a real discussion about spendingEric Cantor, Moelis and Company vice chairman and managing director and former House Majority Leader, joins 'Squawk Box' to discuss the state of the 2024 race, impact of former President Trump's criminal trials, M&A environment, and more.
Persons: Eric Cantor, Moelis, Trump's Organizations: Company
Jensen Huang's emails run to no more than six lines, former Nvidia workers told Business Insider. They follow a "TL;DR approach" and the Nvidia CEO expects the same from his employees. AdvertisementJensen Huang has a distinctive way of writing emails and expects the same from Nvidia employees. Three former Nvidia workers said Huang's emails are usually concise, no more than six lines long, and he expects people to cut to the chase. This story is available exclusively to Business Insider subscribers.
Persons: Jensen, , Jensen Huang Organizations: Nvidia, Business, Service Locations: Yorker
In a Wednesday interview with CNBC's Jim Cramer, Chipotle CEO Brian Niccol addressed a recent TikTok trend that claims the fast food chain is skimping on portion sizes. Dubbed the "Chipotle phone method," the trend involves some users on Tiktok filming Chipotle workers as they get orders ready in order to receive more toppings. Niccol also discussed Chipotle's first-ever stock split. One Chipotle share is currently worth $3,072.85, and the split is expected to take effect in June. "There's a lot more excitement when you can buy a whole share or get a couple shares," Niccol said.
Persons: CNBC's Jim Cramer, Brian Niccol, Niccol, Chipotle, We're, Chipotle's, Jack Hartung
Investors searching for income can find some bargains in dividend stocks, according to Ben Kirby, co-head of investments at Thornburg Investment Management. Now investors have an added benefit in that dividend stocks are selling at a big discount, he said. When looking for the right dividend stock, Kirby wants companies offering solid balance sheets and free-cash-flow, as well as competitive advantages and sustainable profit margins. Here are some of the stocks Kirby owns in his funds and that he particularly likes right now. If the reductions continue, coupled with the stock's dividend yield, "that alone will drive a pretty competitive return," Kirby said.
Persons: Ben Kirby, Kirby, Jane Fraser, we're, Fraser Organizations: Thornburg Investment Management, Kirby, Depot, Citigroup, JPMorgan Chase, CNBC, Citi, Time Warner
Bangkok CNN —Thailand’s former Prime Minister Thaksin Shinawatra has been indicted on lese majeste charges, authorities said Wednesday, in the latest twist in a decades-long political saga in the Southeast Asian kingdom. The case, filed by police, alleged Thaksin violated Thailand’s notoriously harsh royal insult law during an interview he gave in 2015 to the South Korean newspaper Chosun Ilbo. “The attorney general has decided to indict Thaksin on all charges,” spokesperson Prayuth Bejraguna, told reporters Wednesday. Earlier this month, the death of a young Thai activist in pre-trial detention for lese majeste charges shocked many in the country and sparked renewed calls for justice reform. A push to reform the lese majeste laws gained significant traction ahead of the 2023 general election, which saw the progressive Move Forward Party win the most votes.
Persons: Bangkok CNN —, Thaksin Shinawatra, Thaksin, Thailand’s, Prayuth Bejraguna, , Thaksin’s, Paetongtarn, Chiang Mai, majeste, King Maha Vajiralongkorn, King Bhumibol Adulyadej Organizations: Bangkok CNN, South Korean, Chosun Ilbo, Manchester City Football Club, Thai Lawyers for Human Rights, Party, Constitutional Locations: Bangkok, Thailand, Thai
When her daughter enrolls in kindergarten soon, Horrocks said she will return to the workforce but not to the high-stress position she held. Instead, given the luxury to pursue her passions, she's considering financial coaching or planning as options. "I think work is not the goal. She no longer needs to strive for the highest-paying or most prestigious position, and she's considered becoming a financial coach to help people achieve their financial goals. "Also, a lot of financial advisors don't have their client's best interests at heart and aren't wealthy themselves."
Persons: Sabina Horrocks, Horrocks, isn't hustles, Nobody's, We've, They've, we've, she's Organizations: Service, Business, Advisors Locations: Chicago
We are buying 55 shares of Abbott Laboratories at roughly $100.89 and 200 shares of Coterra Energy at roughly $27.44. The stock continues to slide along with many other names in health care as investors focus mainly on the artificial intelligence trade. We're adding to Coterra because we want to more energy exposure on our books due to the rising geopolitical tensions in the Middle East. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Jim Cramer's, Abbott, There's, ABT, Jim Cramer, Jim, Brandon Bell Organizations: Abbott Laboratories, Coterra Energy, ABT, CTRA, Abbott Labs, ConocoPhillips, CNBC, Getty Locations: Monahans , Texas
LONDON — BHP Group on Wednesday said it believes an extension to talks with takeover target Anglo American is necessary, as the deadline for discussions looms later in the session. The offer values the company at £38.6 billion ($49.2 billion), according to previous Reuters calculations. "BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal," it said in a statement. The rival miners have until 5 p.m. London time Wednesday to reach an agreement following a week-long extension of last week's deadline. Anglo rejected BHP's previous offers, saying they undervalued the company and its prospects.
Persons: BHP, Stuart Chambers Organizations: LONDON, BHP Group, London, CNBC, BHP Locations: American
New York CNN —Walgreens is joining other retailers in cutting prices across the board, from snacks to toiletries and even Squishmallows, in an effort to lure back inflation-weary shoppers turned off by high prices. Prices are dropping immediately on more than 1,500 items online and at its stores, which include both name and store brands, Walgreens announced Wednesday. In the past few weeks, competitors including Target, Walmart and Amazon slashed prices on thousands of household goods to rev up consumer spending. “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” said Tracey D. Brown, Walgreens’ retail president and chief customer officer, in a release. Meanwhile, a host of other retailers report earnings Thursday, including Dollar General and Costco.
Persons: , Tracey D, Brown, , we’ve, Alliance’s, isn’t, Sarah Wyeth, “ There’s, ” Wyeth, Parija Kavilanz Organizations: New, New York CNN, Walgreens, Target, Walmart, Dollar, Costco, Shoppers Locations: New York
“When I was 18, I registered as a Republican,” London said. Haley garnered nearly 17% of the primary vote statewide this year — approaching 25% in the suburban collar counties around Philadelphia. “It’s a principled position I need to take.”Irma Fralic, too, cast her primary vote for Haley as a protest. CNNOur visit to Pennsylvania coincided with Haley announcing she will vote for Trump in November despite significant differences with the presumptive GOP nominee. Eyeing Trump, but holding her noseLinda Rooney cast her Haley vote in the primary as a question as much as a protest.
Persons: Joan London, , Reagan, Bush, Obama, , , “ I’ve, Nikki Haley, Pennsylvania’s, Haley, Donald Trump’s, Ronald, I’ve, , Trump, Joe Biden, London’s, Biden, ” Irma Fralic, ” Fralic, I’m, I’d, , ’ ” John King, Irma Fralic, Fralic, Eyeing Trump, Linda Rooney, ” Rooney, Rooney, ” John King, “ Haley, ” Rooney texted, “ She’s, Trump Michael Pesce, ” Pesce, Ronald Reagan, , We’re, Pesce, “ I’m Organizations: Pennsylvania CNN, Republican, Pennsylvania, Tea, Independent, South, Republican Party, CNN, Donald Trump’s GOP, Trump, Reagan Republican, Media, Army, , Coast Guard, Republicans Locations: Fleetwood, Pennsylvania, London, Washington ,, South Carolina, Philadelphia, Berks County, Philly, Israel, Wyndmoor , Pennsylvania, Delaware County, Afghanistan, Media , Pennsylvania, Bucks County
Louisville, Kentucky CNN —All charges against Scottie Scheffler have been dismissed less than two weeks after the world No. “Based upon the totality of the evidence, my office cannot move forward in the prosecution of the charges filed against Mr. Scheffler,” County Attorney Mike O’Connell said Wednesday in court. “He’s glad it’s over,” Romines said of Scheffler, who lives in Texas and had permission to miss Wednesday’s hearing. It appears to show an officer read Scheffler his Miranda rights before questioning the golfer about the incident. The officer, Detective Bryan Gillis, stopped Scheffler and attempted to give instructions.
Persons: Scottie Scheffler, Scheffler, Mike O’Connell, “ Mr, Anne Delahanty, , , , ” Scheffler, Steve Romines, Romines, “ He’s, ” Romines, WLKY, John Mills, Xander Schauffele, Louisville Mayor Craig Greenberg, Miranda, “ LMPD, Scheffler’s, ” Scottie Ellis, Mayor Greenberg, ” Ellis, Valhalla –, Dwight Mitchell, ESPN –, Bryan Gillis, Gillis, Jacquelyn Gwinn, Villaroel, Steve Almasy, Gloria Pazmino, Jill Martin, Jack Bantock, Eric Levenson, Ray Sanchez, Andy Rose Organizations: Kentucky CNN, PGA, Mr, “ Police, Jefferson, CNN, Louisville Metro Police Department, Valhalla Golf, PGA of America, Louisville Mayor, Valhalla Golf Club, ESPN, Louisville Police Locations: Louisville, Kentucky, Jefferson County, ” County, Texas, Louisville , Kentucky, Romines, Jefferson, Valhalla
For Celtics superstar Jayson Tatum, that strategy has paid off handsomely. Jayson TatumThe third overall pick in the 2017 NBA draft said Bryant's words have "always resonated with me." But as difficult as it might be, Tatum understands that he only has "a small window of your life to be an NBA player." You think you're this super rich young kid and the money will never run out. The best money Jayson Tatum ever spent
Persons: Kobe Bryant, Jayson Tatum, Tatum, that's, I'm, Deuce Organizations: Kobe, Celtics, Boston, Indiana Pacers, CNBC, NBA Locations: Kobe
Young workers value job flexibility nearly as much as competitive pay, a survey showed. Gen Zers prioritize flexibility for work-life balance, research indicates. Most Gen Zers prefer in-person or hybrid work setups over fully remote work. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFor some young workers, having flexibility in their jobs is nearly as important as how much they get paid.
Persons: Zers, Organizations: Service, Business
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