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☆ Don't bet against Zuckerberg: Meta's earnings-driven stock slide is an opportunity
▼ + stars: | 2024-04-24 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

META YTD mountain Meta Platforms YTD We obviously don't like what we are seeing after hours in the stock. While expecting a similar dynamic to play out now with AI investments, Zuckerberg fully expects the end result to be similar as the team scales its offerings and then begins to monetize the investments. Regarding shareholder returns, the company repurchased $14.6 billion worth of stock during the quarter while returning another $1.3 billion via dividends. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The logo of the U.S. company created by Mark Zuckerberg, Meta is displayed during the Viva Technology conference at Parc des Expositions Porte de Versailles on June 15, 2023 in Paris, France.

Persons: That's, Mark Zuckerberg, we'll, Zuckerberg, China's ByteDance, we've, we're, it's, ChatGPT, Jim Cramer, Joe Biden, Jim, Jim Cramer's, Porte de Versailles Organizations: Revenue, LSEG, Zuckerberg, China's, Meta, Microsoft, Electric, Realty Labs, Daily, People, CNBC, U.S ., Viva Technology, Parc, Chesnot, Getty Locations: U.S, Asia, Pacific, Paris, France

☆ Some New England universities and colleges break $90,000 barrier for total cost in upcoming school year
▼ + stars: | 2024-03-27 | by ( Zenebou Sylla | ) edition.cnn.com time to read: +5 min

CNN —Several New England universities and colleges have reached a pinnacle of at least $90,000 for undergraduate tuition and costs starting this fall. The nearly six-figure sums reflect the rising cost of higher education, far outstripping the average inflation for other goods and services. Schmeidel said very few Wellesley students pay the total fee, adding nearly 60% of its students receive financial aid and the average financial aid award is $67,469. Riley added 56% of domestic students received some form of aid for this academic year, with the average financial aid package being $67,000, for an average cost of attendance of $16,000. “Because this is an average, some of the students with greatest demonstrated financial need paid $0, and others paid more,” Riley said.

Persons: trumping Wellesley, “, Stacey Schmeidel, Schmeidel, ” Schmeidel, Colin Riley, Riley, ” Riley, Jeremiah Quinlan, ”, Quinlan, Patrick Collins, Collins, ” Collins, CNN’s Allison Morrow Organizations: CNN, Yale University, Tufts University, Boston University, BU, Wellesley College, Tufts, Wellesley, College, Colleges, of Education, Labor, Yale Locations: New England, Boston

☆ 'Quiet luxury' was once all about fashion — but now it describes how the top 1% travel too
▼ + stars: | 2024-03-22 | by ( Helen Iatrou | Rob Goss | ) www.cnbc.com time to read: +4 min

Big-ticket travel experiences like those are indicative of the "quiet luxury" trend which began in the world of fashion, with timeless lines trumping brand-blaring outfits. Less limelight, more connectionJaclyn Sienna India, the founder of the ultra-luxury travel company Sienna Charles, said she considers herself a longtime quiet luxury disciple. Monaco has long been a playground for the elite, but wealthy travelers are increasingly opting for more remote locations, say luxury travel advisors. But another important aspect of the quiet luxury movement concerns security. For them, quiet luxury travel is about exclusivity and privacy, she said.

Persons: Jaclyn Sienna India, Sienna Charles, Vietnam's, Alexander Spatari, It's, Sean De Burca, George W, Bush, Erica, Erica Jackowitz, Jackowitz, Sienna India, Thomas Barwick, Roger Federer, Erica's Erica Jackowitz, Anastasiia Organizations: Monaco, Bank, Getty, Digitalvision, Henley, Partners Locations: Antarctica, Svalbard, Paris, Monaco, Chi Minh City, India, Brazil, Ethiopia, New York City, Africa

☆ Opinion: The making of a Black conservative
▼ + stars: | 2024-02-05 | by ( Opinion Coleman Hughes | ) edition.cnn.com time to read: +12 min

I had Black friends, White friends, Asian friends, Hispanic friends and mixed-race friends. But I didn’t think of them as “Black,” “White,” “Hispanic” and “mixed race.” I thought of them as Rodney, Stephen, Javier and Jordan. Where my White friends had the wind of White supremacy at their backs, I faced a headwind. I huddled with the Black kids in one corner of the room, and watched as the White kids, Hispanic kids and Asian kids awkwardly shuffled to their respective corners. Why were Black students in one of the most progressive, non-racist environments on Earth claiming to experience racism all the time?

Persons: Coleman Hughes, podcaster, CNN — I’ve, White, Rodney, Stephen, Javier, Jordan, Coleman Hughes Evan Mann, Martin Luther King Jr, ’, pimply White, Emmett Till, I’d Organizations: The New York Times, Street Journal, National, City Journal, CNN, Free Press, Forbes, Penguin Publishing, Newark Academy, Color Conference, Selma, Columbia University, Columbia, White, Ivy League Locations: Montclair , New Jersey, Montclair, Houston

☆ Tesla's Cybertruck - top features and specifications
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

Tesla's new Cybertruck is shown on display at a Tesla store in San Diego, California, U.S., November 20, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 30 (Reuters) - Tesla's (TSLA.O) Cybertruck has caught the attention of many drivers with its polarizing design that promises a durable build and unique features. The electric pickup, however, enters a fiercely competitive truck market, with automakers trying to one-up rivals with utility and features. Here are some specifications and features of the Cybertruck:RANGEThe base rear-wheel drive variant can travel an estimated 250 miles, while the all-wheel drive and "Cyberbeast" variants can travel 340 miles and 320 miles, respectively. The top two variants can travel further with an optional range extender that takes about a third of the truck's bed space.

Persons: Mike Blake, Cybertruck, Elon Musk, Musk, Akash Sriram, Arun Koyyur Organizations: REUTERS, Porsche, Ford, GM Silverado, DMC DeLorean, Thomson Locations: San Diego , California, U.S, Austin , Texas, Bengaluru

☆ All kids want for Christmas this year … Robux and gaming subscriptions
▼ + stars: | 2023-11-29 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —Nicole Randol — a Missouri-based mother of two boys, ages 6 and 10 — recently posted a message on a popular Facebook parenting group about Robux, the virtual gaming currency for the platform Roblox: Target was having a 40%-off sale for Robux. “I expect it to be the most exciting thing they open [on Christmas],” Randol, who bought two $100 Robux cards, told CNN. Gaming subscriptions continue to gain popularity, too. “What’s changed, naturally, is the games that families are playing.”According to ESA, more than 212 million Americans play video games on a regular basis. Still, with the rise of subscriptions and gaming currency, what lands under the Christmas tree may be smaller in size than years before.

Persons: CNN — Nicole Randol —, —, ” Randol, Fortnite, trumping, ”, Christopher Byrne, Guy, “, ” Roblox, Robux, Michael Inouye, Cozy, Byrne, “ What’s, ” Byrne, Jim Silver, Bitzies, ” Bryne, Parija Kavilanz Organizations: CNN, Robux, Entertainment Software Association, Epic Games, PlayStation, Pro, Apple, ABI Research, National Retail Federation, ESA, Gaming Locations: Missouri

☆ Thanksgiving weekend dealhunters came broke records but their spending didn’t
▼ + stars: | 2023-11-28 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —More people than ever flocked to stores and websites over the Thanksgiving and Black Friday holiday weekend this year, but consumers didn’t quite break the spending record set in recent years. The group said consumers spent $321.41 on average (unadjusted for inflation) on these types of items compared to $325.44 over the same time last year. The Thanksgiving holiday weekend typically marks the start of the year-end gift-buying rush. The NRF’s own projection calls for a slowdown in holiday sales growth this year. And for Cyber Monday, the numbers were even stronger — consumers spent $12.4 billion, a 9.6% increase from 2022.

Persons: New York CNN —, trumping, NRF, It’s, ”, Matt Shay Organizations: New, New York CNN, National Retail Federation, Industry, ”, Adobe Analytics Locations: New York

☆ Gold loses footing as focus turns to Fed minutes
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices declined on Monday weighed down by an uptick in U.S. Treasury yields, with investors awaiting minutes of the Federal Reserve's last meeting for cues on the central bank's interest rate path. Spot gold was down 0.1% to $1,978.23 per ounce, recouping the day's earlier losses. Spot gold rose as high as $1,993.29 on Friday. Lower interest rates exert downward pressure on the dollar and bond yields, enhancing the appeal of non-yielding bullion.

Persons: Bart Melek Organizations: Aurum, Treasury, TD Securities, Fed, U.S, Kitco Metals, Holdings, SPDR, Trust Locations: U.S

Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The surge in their borrowing from Chinese banks has catapulted the yuan past the euro into becoming the second-biggest currency used in global trade finance, providing a fillip to Beijing's ambitions to internationalize the yuan. "Panda bonds are steadily promoting the renminbi's function as a funding currency", the People's Bank of China (PBOC) said a report last month. German automaker Volkswagen Group (VOWG_p.DE) told Reuters it will use its inaugural 1.5 billion yuan panda bond proceeds only for its onshore China business. ($1 = 7.2421 Chinese yuan renminbi)Reporting by Samuel Shen and Rae Wee Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Yuan, Dado Ruvic, Fiona Lim, Lim, SWIFT, Mercedes, Yuan internationalisation, Mark Williams, It's, Maybank's Lim, Williams, Samuel Shen, Rae Wee, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, BMW, Crédit Agricole S.A, National Bank of Canada, People's Bank of China, Standard Chartered Bank, Bank of China's, Volkswagen Group, Reuters, Benz Group, Capital Economics, Thomson Locations: Rights SHANGHAI, SINGAPORE, China, Hong Kong, Asia, Russia, Argentina, Pakistan, Nigeria

NEW YORK (AP) — Those miracles of modern science, the Rolling Stones, celebrated the release of their first album of original music in 18 years with a Manhattan club gig on Thursday. Mick Jagger alluded to past stunts the Stones had done in New York to tout new music over the years, including performing on a flatbed truck on Fifth Avenue. “Hackney Diamonds,” coming at a time many fans wondered if the Rolling Stones would ever bother again with new music, has been well received by critics, with many noting the crisp energy the band displayed. This time, the bar band was the Rolling Stones. Lady Gaga, dressed in a maroon sequined pantsuit, appeared to recreate her duet — duel, really — with Jagger on the new “Sweet Sounds of Heaven.”“New York, the Rolling Stones!” she said before leaving, after exchanging kisses with Jagger and Richards.

Persons: Christie Brinkley, Elvis Costello, Trevor Noah, Mick Jagger, ” Jagger, “ There's, Charlie Watts, Jagger, Keith Richards, Ron Wood, They're, “, Questlove, Jagger pranced, Richards, Jumpin, Jack Flash, ”, Lady Gaga Organizations: Racket Locations: Manhattan, New York, Manhattan's Meatpacking, ” “ New York

Here's a secret some content creators are holding close to their chests: Facebook is an overlooked goldmine for cash. "There's so many ways to make money on Facebook that my manager calls it a cash cow," My Nguyen, the creator behind the viral food and recipe account MyHealthyDish, told Insider. Take Morgann Book, a lifestyle influencer with 2.8 million TikTok followers. Meanwhile, Nuseir Yassin of Nas Daily, whose account has 7 million TikTok followers, told Insider in 2022 that his monthly earnings from several Facebook accounts rounded out to between $60,000 and $70,000. Meanwhile, Cassandra Bankson, who uploads skincare-related content for her 437,000 TikTok followers, uses the company Decked to syndicate her content across Facebook.

Persons: She's, Nuseir Yassin, Here's, Instagram, Tom Alison, Wasil Daoud, he's, Daoud, TikTok, doesn't, Rob Clark, Jellysmack, Cassandra Bankson, she's, they'll, Adorian, Khamyra, Logan Nathanson, Nathanson Organizations: Facebook, YouTube, Nas Daily, Amazon Locations: Nas

☆ At WTO, growing disregard for trade rules shows world is fragmenting
▼ + stars: | 2023-10-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. Those depositing cases include China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea and the United States. The result is a growing disregard for global trading rules among WTO members. Countries have taken advantage of exceptions to WTO rules, such as for national security used by the United States to limit metal imports and some Gulf states to restrict trade with Qatar. Beijing has restricted exports of critical minerals, while Washington has sought to prevent Chinese access to U.S. technology, with national security trumping global trading rules.

Persons: Denis Balibouse, ”, Alan Wolff, Donald Trump, Keith Rockwell, Biden, Ngozi Okonjo, Philip Blenkinsop, Emma Farge, Christina Fincher Organizations: World Trade Organization, REUTERS, WTO, Reuters, Reuters Graphics, European Union, Foundation, Washington, Thomson Locations: Geneva, Switzerland, China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea, United States, Ukraine, North America, Washington, Qatar, Beijing, U.S, Lake Geneva, Indian

☆ Santa better get a T- shirt because summer has claimed Christmas
▼ + stars: | 2023-08-20 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

Stores have been pushing up Christmas merchandise earlier and earlier in recent years. In 2021, Amazon and Walmart, afraid of tepid consumer demand because of the pandemic, initiated holiday sales as early as October. The same pattern was repeated last year, effectively elongating the year-end holiday shopping season. “I expect an ever-growing holiday season is here to stay, at least for the foreseeable future,” said Zak Stambor, senior retail & ecommerce analyst with Insider Intelligence. Among the festive items were Christmas tree ornaments, festive ribbons, plush elves and tabletop ornaments.

Persons: can’t, Don’t, ”, Zak Stambor, Nikki Baird, Stambor, here’s, we’ve, ” Lowe's, Lowe’s, “ Organizations: New, New York CNN, Walmart, Labor, Insider Intelligence, ” Industry, Amazon, Depot, Lowe’s, CNN, Costco Locations: New York, Amazon, “, Santa

☆ A top economist says the stock-market mania reminds him of the dot-com and housing bubbles - and warns consumers are feeling the squeeze
▼ + stars: | 2023-07-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Rosenberg warned the buzz around stocks today is similar to the mania before past crashes. The economist noted that American consumers are running short of cash and struggling to borrow more. The veteran economist and Rosenberg Research president also rang the alarm on the US economy in a research note on Wednesday. "The balloon does have a lot of hot air in it," Rosenberg noted, suggesting it was hard to say when speculation and emotion would cease trumping fundamentals and rational thought. That has raised borrowing costs for consumers and businesses, and wreaked havoc on debt-fueled industries such as commercial real estate.

Persons: David Rosenberg, Rosenberg, Irving Fisher, Abby Joseph Cohen, Chuck Prince's doozy, you've, Merrill Lynch Organizations: Service, Rosenberg Research, North, Nasdaq, Dow Jones, Big Tech, Consumers, New York, Federal Reserve Locations: Wall, Silicon, North American

☆ Canada agrees up to C$15 bln in incentives for Stellantis-LGES battery plant
▼ + stars: | 2023-07-06 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

OTTAWA, July 6 (Reuters) - Canada is willing to dole out up to C$15 billion ($11.3 billion) in production incentives for a Stellantis-LG Energy Solution (LGES) (STLAM.MI), electric vehicle battery plant, trumping a record deal with Volkswagen as Ottawa competes with Washington to woo major clean-tech projects. The subsidies deal has resulted in construction resuming at the Stellantis-LGES plant after the companies halted the project in May demanding Canada match support available in the United States under the Inflation Reduction Act (IRA). Canada has said that projects like the Stellantis and Volkswagen battery plants would be "anchors" for a pivot to clean tech. The funding for the battery plant will be provided by Canada's federal government and the Ontario province in a pact structured similarly to the C$13 billion deal for Volkswagen's plant. ($1 = 1.3320 Canadian dollars)Reporting by Ismail Shakil in Ottawa; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: trumping, Stellantis, Ismail Shakil, David Holmes Organizations: OTTAWA, LG Energy, Volkswagen, Ottawa, U.S ., Thomson Locations: Canada, Washington, United States, Ontario, Detroit, Ottawa

☆ Ahlgrim Acres: The mini-golf course underneath an Illinois funeral home
▼ + stars: | 2023-06-28 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

Welcome to Ahlgrim Acres, a macabre mini-golf experience buried underneath a funeral home. OriginsIn 1964, Roger Ahlgrim strolled into Ahlgrim Family Funeral Services’ newly constructed building, located in the small, leafy village of Palatine, a suburb of Chicago. Ahlgrim FFS / FacebookToday, Jonathan Gwizdala, a fifth-generation Ahlgrim, is among the funeral directors that continue the legacy of his grandfather by overseeing the course. Nothing out of the ordinary there, until you discover they are the names of Ahlgrim Family Funeral Services’ still-very-much-alive funeral directors. Jonathan Gwizdala“Fairway to heaven”Host to thousands of rounds each year, Ahlgrim Acres has become woven into the fabric of the neighborhood.

Persons: Roger Ahlgrim strolled, Arthur Ahlgrim, Ahlgrim, Jonathan Gwizdala, ” Gwizdala, “, you’re, Roger Ahlgrim’s, Roger Ahlgrim's, ’, ”, Gwizdala Organizations: CNN, Ahlgrim, Facebook, Boy Scout Locations: Illinois, Palatine, Chicago

☆ Spain players trumping fatigue as they look to win Nations League
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +2 min

ROTTERDAM, June 17 (Reuters) - Spain coach Luis de la Fuente is confident the motivation of playing in the Nations League final will trump any end-of-season fatigue his players might feel after an exhausting campaign. Spain take on Croatia to decide the title in Rotterdam on Sunday after edging Italy in the last minute of their semi-final on Thursday. De la Fuente told a pre-match press conference he had no concerns about his players finding the requisite energy before heading off on holidays. De la Fuente took over as Spain coach after their last-16 elimination at the World Cup last November, and he now has a chance to win a title in only his fourth game in charge. Croatia, however, will be a tricky opponent for Spain, the coach added.

Persons: Luis de la Fuente, De la Fuente, la Fuente, Mark Gleeson, Hugh Lawson Organizations: Nations League, Thomson Locations: ROTTERDAM, Spain, Croatia, Rotterdam, Europe, Cape Town

☆ Dollar sags versus yen after Japan warning; Aussie slides on China data
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: +2 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency. The Aussie was last down 0.15% at $0.6507, heading back toward last week's 6 1/2-month low of $0.6490. The New Zealand dollar sank as much as 0.5% to a 6 1/2-month trough at $0.60125. Against the Chinese yuan, the U.S. dollar climbed as much as 0.38% to 7.1171 for the first time since Nov. 30.

Persons: Rodrigo Catril, Bart Wakabayashi, Sterling Organizations: Australian, National Australia Bank, Reserve Bank of Australia, New Zealand, U.S, State Locations: Tokyo, Japan, China, United States, Tuesday's

☆ Erdogan win sends stark note on economy and votes
▼ + stars: | 2023-05-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

MILAN, May 29 (Reuters Breakingviews) - Tayyip Erdogan’s re-election in Turkey sends a sharp message to leaders around the world: politics is trumping sound economics. Official results released show the sitting strongman won 52% of ballots, implying citizens are deeply divided over his return to power. Erdogan’s victory will likely exacerbate multiple long-term money-matter headaches for the country’s more than 80 million people. Erdogan’s win also suggests the country will continue to pivot away from the West. Follow @LJucca on TwitterCONTEXT NEWSTurkish President Tayyip Erdogan secured a fresh five-year term in elections on May 28, beating challenger Kemal Kilicdaroglu.

☆ Macquarie commodities and markets boss earns $39 million, trumping CEO
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 5 (Reuters) - Macquarie Group's (MQG.AX) commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO's A$32.8 million compensation, according to the Australian bank's annual report. Nick O'Kane's 59% pay bump - he earned A$36.2 million in the last financial year - came after CGM contributed 57% of the Sydney-based firm's net profit, more than double the second-best asset management division. Macquarie posted another record annual profit on Friday, primarily driven by a strong performance from the CGM division, as more customers hedged against volatile energy markets. "Inventory management and trading increased substantially, driven by trading income from regional supply and demand imbalances primarily in North American gas and power markets." ($1 = 1.4901 Australian dollars)Reporting by Praveen Menon; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Fed official: Central bank should be ‘cautious’ in wake of banking turmoil
▼ + stars: | 2023-04-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN —The banking crisis could help the Federal Reserve’s fight to bring down inflation, but the central bank needs to be “cautious” in its actions moving forward, Chicago Fed President Austan Goolsbee said Tuesday. “At moments of financial stress like this, the right monetary policy is really caution and watchfulness and prudence,” he said. Currently, he added, there’s not conflict between monetary policy and potentially tightening credit conditions. Still, Goolsbee added, the Fed needs to be “on watch” for the possibility of tighter credit conditions. “If the response to these banking problems leads the financial industry to tighten on its own, that monetary policy has to do less,” he said.

☆ Use these 5 phrases to sound more emotionally intelligent at work
▼ + stars: | 2023-04-03 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Emotional intelligence is one of the most important skills you need to be successful at work — but it can also be the hardest to master. What most people fail to realize, though, is that developing emotional intelligence "doesn't come naturally," Harvard psychologist and researcher Daniel Goleman once told CNBC Make It. Becoming more emotionally intelligent at work starts with clear, empathetic communication, says Emily Liou, a career happiness coach and founder of job search platform Cultivitae. Preply asked professionals which phrases they appreciate hearing the most and identified the 5 most popular phrases people use to sound more emotionally intelligent at work:"I appreciate you/your work" "What can I do to help?" Check out:Avoid these 10 'cringeworthy' phrases that are annoying your co-workersWant to sound smarter at work?

☆ Aviva hikes investor payouts after bumper operating profit beat
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The British insurer and asset manager said it had paid more than 5 billion pounds to investors since 2021, just topping Cevian's demand for that figure to be returned over the year. Aviva reported a 35% rise in 2022 operating profit from continuing operations to 2.2 billion pounds, up from 1.6 billion pounds the previous year and trumping analyst forecasts. However, it made an accounting loss of 1.1 billion pounds, compared to a 2 billion pound profit the previous year, which it blamed on adverse market movements in 2022. Following a pension scheme payment and investor payouts, this fell to an estimated 196%, the company said. The company's general insurance gross written premiums increased 8% to 9.7 billion pounds, while its fund arm Aviva Investors reported external net flows of 1.3 billion pounds, down from 3.3 billion the prior year.

REUTERS/Florence Lo/Illustration/File PhotoHONG KONG, Feb 27 (Reuters) - JPMorgan (JPM.N) is proposing a new Asia credit index with slashed China weighting in parallel to its existing $85 billion Asia credit index, two sources said, amid growing geopolitical tensions and dimming appetite for Chinese property bonds. For the new index, JPMorgan has suggested the weighting of China be cut to close to 30% compared with a level of about 43% in its existing JPMorgan Asia credit index (.JPMACI) (JACI) in which China is the largest component, according to one person with direct knowledge of the matter. JACI is a premier Asia credit index, tracked by fund managers controlling more than $85 billion worth of assets, according to the January proposal. INDEX RESHUFFLEThe proposal to reduce China weighting came after some fund managers pushed JPMorgan to cut JACI's China debt exposure, two sources said, as its poor performance dragged down popularity of the passive products that track the index. Jane Cai, a fixed income portfolio manager at China Asset Management (Hong Kong), said at a media briefing this month that JPMorgan was also internally discussing an ex-China Asia credit index.

[1/3] A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China, February 28, 2020. REUTERS/Aly Song/File PhotoNEW YORK/SINGAPORE, Feb 24 (Reuters) - Many large money managers are steering clear of Chinese assets, missing out on the nation's post-COVID stock market rally in the latest example of strategic concerns trumping juicy returns. "For our investors who might have that concern, there are plenty of other opportunities away from China." The concern flagged by some is whether this is part of a structural downgrade for Chinese assets, said Will Malcolm, a Singapore-based portfolio manager at Aviva Investors. That could attract cash in a hurry, but the behaviour of large investors so far suggests that a large sentiment shift will be needed.

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