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☆ HSBC CEO announces surprise retirement
▼ + stars: | 2024-04-30 | by ( ) edition.cnn.com time to read: +3 min

Hong Kong — HSBC has announced its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe. “We do hope that the next CEO would lay out more plans, execution-wise, to further increase the bank’s businesses in Asian countries,” he added. “I’ve held intensive leadership roles since I took on a commercial bank role in October 2008, so I’m personally ready for a change,” Quinn told reporters on a call. HSBC also faced criticism in recent years from Western lawmakers over its dealings with China amid growing geopolitical tensions. The London-headquartered bank also announced $3 billion worth of share buybacks on top of $2 billion in share purchases announced in February.

Persons: Noel Quinn, —, Georges Elhedery, Quinn, ”, Simon Yuen, “ I’ve, I’m, ” Quinn, “ It’s, Mark Tucker, “, ” Tucker, China’s Organizations: HSBC, HSBC’s, Management, China’s Ping An Insurance Locations: Hong Kong, Asia, United States, France, Argentina, Canada, Europe, China, The London

☆ HSBC to sell Argentina business in $550 million deal
▼ + stars: | 2024-04-09 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

CNN —HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia, the largest private financial group in the country, for $550 million, the UK-based bank said on Tuesday. The sale is expected to lead to a $1 billion pre-tax loss for HSBC in the first quarter of this year, the statement added. “HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network,” Quinn said, adding that the unit “generates substantial earnings volatility” for the bank. “Galicia is better placed to invest in and grow the business,” he said. The bank, Europe’s biggest by market value, reported a big drop in quarterly profit in February, partly because of its exposure to China’s troubled real estate industry.

Persons: Noel Quinn, ” Quinn, ” Organizations: CNN, HSBC, Grupo Financiero, “ HSBC Locations: Argentina, Grupo Financiero Galicia, Asia, United States, France, “ HSBC Argentina, “ Galicia, China

☆ Can AI save commercial real estate in San Francisco?
▼ + stars: | 2023-07-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge on October 27, 2022 in San Francisco, California. Alexander Quinn, senior director of research at commercial real estate company JLL, said his firm sees bright spots in San Francisco’s commercial real estate market as AI companies drive office leasing demand. A shopper exits the Westfield San Francisco Centre shopping mall in San Francisco, California, US, on Tuesday, June 13, 2023. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home. “I think the crash is coming, and it hasn’t happened yet,” he added, referring to commercial real estate prices.

Persons: Naveen Rao, CBRE, Justin Sullivan, it’s, ” Rao, San, Alexander Quinn, JLL, ” Quinn, Rao, OpenAI, ”, “ There’s, MosaicML, Quinn, “, Francisco’s, David Paul Morris, Henrique Dubugras, ” Michael Tannenbaum, Tannenbaum, Hans Hansson Organizations: CNN, San, Westfield, San Francisco Centre, Westfield San Francisco, Bloomberg, Getty, London, US, “ Locations: San Francisco, Southern California, Francisco, Oakland, San Francisco , California, ”, “ San Francisco, New York, Los Angeles, city’s, San Francisco’s Union, Coresight, Westfield San Francisco Centre, California, Francisco’s, San Jose, decamping, United States

☆ Bedbugs: What travelers need to know this summer
▼ + stars: | 2023-07-06 | by ( Forrest Brown | ) edition.cnn.com time to read: +11 min

Potter suggests that before you even unpack, at least do a cursory bed check. If there are two beds in a room, Potter does not put his suitcase on the other bed. These are the signs of bedbug infestationsThis is what a serious bed bug infestation looks like on a mattress. Bed bug eggs are the size of a pinhead and pearl-white. Bedbugs are more than a bed and motel problemIn a hotel room, place your luggage on a rack, as you see above.

Persons: Michelle Quinn, bedbugs, “, Jeff March, Quinn, ”, Michael F, Potter, I’d, Andrew Francis Wallace, Dmitry Bezrukov, Daniel K, it’s, you’ve, Joel Carillet, ” Potter, she’s, ” Quinn Organizations: CNN, Google, Alamy, Entomology, University of Kentucky, Toronto Star, American, & Lodging Association, Environmental Protection Agency, Inouye International Airport, Hawaii Department of Transportation, CNN Travel, Medical, Centers for Disease Control, bedbugs, Cleveland Clinic, Washington , D.C Locations: Indiana, sofas, Honolulu , Hawaii, Washington ,

☆ Elon Musk tweets support for ‘Dilbert’ creator after racist tirade
▼ + stars: | 2023-02-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Elon Musk defended “Dilbert” creator Scott Adams after hundreds of newspapers stopped printing the comic strip because of Adams’ recent racist comments. Last week, Adams called Black Americans a “hate group” and suggested that White people should “get the hell away” from them. “Maybe they can try not being racist.”Musk later agreed with a tweet saying Adams’ comments “weren’t good” but had an “element of truth” to them. Hate speech on TwitterThe Twitter CEO’s comments come amid an influx of hate speech on his platform. The Center for Countering Digital Hate and the Anti-Defamation League both said in recent reports that the volume of hate speech on Twitter has grown dramatically under Musk’s stewardship.

☆ Hundreds of newspapers drop ‘Dilbert’ comic strip after racist tirade from creator Scott Adams
▼ + stars: | 2023-02-25 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

The USA Today Network, which operates hundreds of newspapers, said it had pulled the plug on the long-running comic strip. The move came after Scott Adams, the cartoonist behind “Dilbert,” effectively encouraged segregation in a shocking rant on YouTube. The newspapers that have cut the comic strip have been clear with readers. “Scott Adams, creator of the Dilbert comic strip, went on a racist rant this week … and we will no longer carry his comic strip in The Plain Dealer,” wrote Chris Quinn, editor of the paper. “In light of Scott Adams’s recent statements promoting segregation, The Washington Post has ceased publication of the Dilbert comic strip,” it said.

☆ Food prices still stubbornly high but seeing some easing
▼ + stars: | 2023-01-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

In December, “food at home” prices increased 0.2% from the month before, according to data released Thursday by the Bureau of Labor Statistics. On an annual basis, however, grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year. “Fertilizer costs have improved, but they still remain very high. Labor costs still remain a problem — and the list goes on.”In addition to those broader pressures, other factors, including weather and disease, are heavily affecting certain products’ prices. “It makes it extremely challenging for a mom-and-pop [business].”He added: “We’re just trying to stay alive and hope that things will come down.”The expectations are for food price increases to continue to moderate, Bailey said.

Elon Musk seems determined to remake Twitter in his own image — with some help from the men in his trusted inner circle. They are joined in Musk’s orbit by Alex Spiro, a trial attorney with a roster of celebrity clients who reportedly led the first round of Twitter layoffs. Bloomberg reported Wednesday night that Twitter is preparing to eliminate about 3,700 jobs, or roughly half its workforce. Musk's personnel decisions suggest a possible road map for the future of Twitter, one in which policies and internal rules are drawn at least in part from the views of Musk’s consiglieres. Sacks, Calacanis, Spiro and Birchall did not immediately respond to questions about the company’s future and the nature of their roles there.

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