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SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment. After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. The report below — the first of its kind — is designed to highlight the banks that best meet consumer needs in their respective markets. They also rated each based on five criteria: trust, terms and conditions (such as fees and rates), customer service, digital services and quality of financial advice. The ranking only included banks that qualified according to the criteria described in the report.
Persons: They're Organizations: Customers, CNBC Locations: SINGAPORE, Asia, Pacific
CNN —Novak Djokovic has withdrawn from the French Open due to a knee injury which had plagued his fourth-round victory against Francisco Cerúndolo on Monday. Defending champion Djokovic was aiming to win his 25th grand slam singles title at Roland Garros, but pain in his right knee flared up during a bruising, five-set contest against Cerúndolo. Antonio Borga/Eurasia Sport Images/Getty ImagesAfter dominating the first set, Djokovic tweaked his knee at the start of the second and took a medical timeout. It was only near the end of the fourth set when Djokovic was able to seemingly move without pain and raise his game. “I slipped way too many times,” Djokovic told reporters.
Persons: CNN — Novak Djokovic, Francisco Cerúndolo, Djokovic, Roland Garros, , ” Djokovic, Instagram, Cerúndolo, Lorenzo Musetti, Antonio Borga, I’ve, That’s, Norwegian Casper Ruud, Italy’s, Bulgarian Grigor Dimitrov Organizations: CNN, Cerúndolo, , ” CNN, French, Bulgarian Locations: Serbian, Eurasia, Paris, Norwegian
Wisconsin is the latest state to bring charges against people connected to the former president involved in the broad effort to overturn the presidential election results. “We hereby reaffirm that Joseph R. Biden, Jr. won the 2020 presidential election and that we were not the duly elected presidential electors for the State of Wisconsin for the 2020 presidential election,” a portion of their statement said. “We oppose any attempt to undermine the public’s faith in the ultimate results of the 2020 presidential election.”Chesebro was previously charged, and pleaded guilty, in the Georgia probe. This undercut his testimony to state prosecutors in which he said the fake electors were contingent on winning the litigation. Chesebro discussed the episode with Wisconsin investigators when he sat for an interview as part of the attorney general’s probe into the fake electors plot.
Persons: Donald Trump, Kenneth Chesebro, Jim Troupis, Michael Roman, Tony Evers, , Chesebro, CNN’s KFile, Joe Biden’s, Trump, , Joseph R, Biden, Jr, ” Chesebro, Jack, Trump . Roman, Troupis, Mike Pence, CNN’s Marshall Cohen, Katelyn Polantz, Alison Main Organizations: CNN, Trump, Troupis, Democratic Wisconsin Gov, ” CNN, State, Trump ., White, Wisconsin, Wisconsin GOP Locations: Wisconsin, Michigan , Arizona , Nevada, Georgia, , Arizona, Michigan, Washington, DC, Milwaukee
U.S. dollar drifts higher from multi-month lows, yen gains
  + stars: | 2024-06-04 | by ( ) www.cnbc.com   time to read: +2 min
Job openings, a measure of labor demand, were down 296,000 to 8.059 million on the last day of April, the lowest since February 2021. Market participants had their focus on the JOLTS data ahead of Friday's U.S. job report, which is expected to show 185,000 new jobs created in May, up from 175,000 in April. "Certainly we had the JOLTS data which was pretty weak. The JOLTS report followed data on Monday showing a second straight month of slowdown in manufacturing activity and an unexpected decline in construction spending. In afternoon trading, the dollar index was up 0.1% at 104.12, having fallen to its lowest since mid-April overnight at 103.99.
Persons: Eugene Epstein, Epstein Organizations: U.S, Swiss, Labor, Survey, Federal Reserve, North America, European Central Bank, Bank of Canada, BoC, BOC, ECB Locations: Friday's, Moneycorp, New Jersey
Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. The latest court filings, provided by former Standard Chartered Bank (SCB) employee turned whistleblower Julian Knight, claim that U.S. officials lied by denying that he provided them with evidence of far greater wrongdoing by the bank. The officials then applied to dismiss his whistleblower case against the bank as "meritless" in 2019 in order to shield it, Knight alleged. Knight, who led a Standard Chartered transaction services unit between 2009 and 2011, was one of two whistleblowers who gave U.S. investigators confidential bank statements in 2012 and 2013. The authorities in question, including an FBI agent, said that the whistleblowers' claims "did not lead to the discovery of any new … violations."
Persons: Julian Knight, Knight Organizations: Chartered, Standard Chartered Bank, International Consortium of Investigative Journalists, Iran's Revolutionary Guard, Hamas, Hezbollah, United Arab, BBC, FBI, CNBC, U.S . Department of Justice, ., U.S Locations: U.S, London, Iran, New York, United Arab Emirates, Kuwait, Germany
India's Prime Minister Narendra Modi flashes victory sign at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Completed vote counts by the Election Commission of India showed that Modi's BJP won just 240 seats. India's Parliament has 543 seats, and the party or coalition that wins at least 272 forms the government. Modi's decade-long ruleUnder Modi, India, home to 1.4 billion people, has witnessed robust economic growth. While India has seen robust economic growth under Modi, observers and critics have warned about the country's "democratic decline."
Persons: Narendra Modi, Money Sharma, Modi, Aiyar, CNBC's, Shilan Shah, Shah, Kranthi, Sensex, Samir Kapadia, that's, Malcolm Dorson Organizations: India's, Bharatiya Janata Party, BJP, Afp, Getty, Indian, Modi's BJP, National Democratic Alliance, Developmental Inclusive Alliance, Indian National Congress, Policy Research, Centre, Monitoring, Capital Economics, BSE, WealthMills Securities, Adani, Adani Enterprises, State Bank of India, ICICI Bank, Monetary Fund, India Index, Vogel, Dem, Global, Vogel Group, IMF Locations: New Delhi, India, INDIA, China, Sweden
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMUFG analyst explains why he expects the RMB to appreciate more against USDMichael Wan of MUFG says the Chinese economy faces both "cyclical challenges and structural issues."
Persons: Michael Wan, MUFG
The media is in meltdown over Caitlin Clark
  + stars: | 2024-06-04 | by ( Allison Morrow | ) edition.cnn.com   time to read: +4 min
New York CNN —The male-dominated sports media apparatus is stumbling over Caitlin Clark. He later apologized for using the slur, emphasizing that his broader thesis was that Clark’s star power created a halo around a league that’s been languishing in obscurity. “I was talking about how I hoped that the WNBA and sports media, ex-WNBA players, would show a little bit more respect to Caitlin Clark for what she has brought to the WNBA,” McAfee said on his show Tuesday. The league those women built has always been a physical one, a fact that Clark herself acknowledged in a postgame news conference. Much like Clark, the mainstream sports media is new to the WNBA.
Persons: Caitlin Clark, hasn’t, Chennedy, Clark, Pat McAfee, Clark —, ” —, , ” McAfee, it’s, McAfee, Charles Barkley, , Victoria Uwumarogie, Barkley, ” Clark isn’t, She’s “, who’ve, ” Uwumarogie, Monica McNutt, ” McNutt, Stephen A, Smith, huff, ’ ” McNutt Organizations: New, New York CNN, ESPN, Indiana, WNBA, TNT, CNN, Warner Bros . Locations: New York, Indiana, America, Iowa
The House voted mostly along party lines on Tuesday to impose sweeping sanctions on officials at the International Criminal Court in a rebuke of efforts by the court’s top prosecutor to charge top Israeli leaders with war crimes in connection with the offensive against Hamas. The bill would compel President Biden to restrict entry into the United States, revoke visas and impose financial restrictions on anyone at the court involved in trying to investigate, arrest, detain or prosecute “protected persons,” or allies of the United States. It would also target anyone who provides “financial, material or technological support” to those efforts. Mr. Biden’s advisers said he was “strongly opposed” to the measure because it would impose sanctions on such a broad swath of officials, including court staff members and any witnesses involved in a potential case. The G.O.P.-written bill passed by a vote of 247 to 155, with two Republicans voting present and 42 Democrats crossing party lines in support.
Persons: Biden, , Organizations: Criminal, Hamas Locations: United States, Washington
Other Trump cases are in suspended animationTwo federal cases against Trump, in which he’s also pleaded not guilty, are in a holding pattern. At the same time, multiple disputes in pre-trial motions have put the looming federal trial in Florida over Trump’s alleged mishandling of classified documents into suspended animation. But if Trump wins, he could appoint an attorney general who could halt the federal cases in their tracks. Garland is also likely to face scrutiny over the Hunter Biden trial. Republicans celebrated when a plea deal, which they saw as “sweetheart” treatment for Hunter Biden, collapsed in court.
Persons: Joe Biden’s, Donald Trump, , ” Biden, Hunter, Biden, Trump, Fani Willis, , , Willis, he’s, Jack Smith’s, Aileen Cannon, Ty Cobb, CNN’s Erin Burnett, , it’s, ” Cobb, Cobb, Hunter Biden, who’s, marveling, Joe Biden, Biden’s, Juan Merchan, “ I’m, Adam Schiff, Kasie Hunt, General Merrick Garland, Garland, Robert Hur’s, New Jersey Democratic Sen, Robert Menendez Organizations: CNN, Republican, Democratic, Republicans, Trump, Georgia, US, Department, Trump White House, Fox News, Capitol, California Democrat, House Republicans, New Jersey Democratic Locations: Connecticut, New York, Georgia, Fulton County, Florida, York, Delaware, Trump, “ State, California, Washington
The funding announced Monday puts a $10 billion price tag on Pershing Square, which manages about $16 billion worth of assets. The benefit of going public is you get to make money, obviously, so it’s not hard to see why Pershing Square would want to do it. For Ackman, in particular, being at the helm of a publicly traded company could be a particularly jarring shift. Pershing Square officially hung up its activist megaphone in 2022, opting to work with a small group of companies behind the scenes. Many of those followers are the kinds of retail investors Ackman could hope to attract to a publicly traded fund.
Persons: CNN Business ’, Bill Ackman, who’s, Ackman, , Lawrence J ., White, , I’ve, ” White, he’s, I’m, he’ll, , Elon Musk, Pershing, Musk, ” NYU’s White, Tesla Organizations: CNN Business, New York CNN, Pershing, Securities, Exchange, NYU Stern School of Business, Herbalife, Twitter, Hamas, MIT, Trump, SEC, Bloomberg Locations: New York, Pershing, Israel
Washington CNN —Attorney General Merrick Garland appeared defiant Tuesday as he spent hours fielding questions from lawmakers on a range of topics, occasionally sparring with Republican House members seeking to use his testimony to attack the Justice Department. “These repeated attacks on the Justice Department are unprecedented, and they are unfounded,” he told lawmakers. “I will not be intimidated, and the Justice Department will not be intimidated. “It is not the fault of the Department of Justice that Donald Trump has surrounded himself with criminals,” Lieu said. “Trump brought that upon himself.”Lieu also noted that President Biden’s son Hunter is being prosecuted “in federal court right now” by Garland’s Justice Department.
Persons: General Merrick Garland, Garland, Donald Trump, Hunter Biden, Garland’s, Joe Biden’s, Robert Hur, ” Garland, lobbed, , , Biden, Trump, Jack Smith’s, Jim Jordan, Jack Smith, Smith, Jordan, Hunter Biden’s, Ben Cline, Cline, Ted Lieu, Paul Manafort, Rick Gates, George Papadopoulos, Michael Cohen, Roger Stone, Elliott Broidy –, ” Lieu, “ Trump, Biden’s, Hunter Organizations: Washington CNN, Republican, Justice Department, GOP, Department, DOJ, CNN, Manhattan District, Republicans, Trump, Manhattan District Attorney, Justice, Ohio Republican, White House, Democratic, Department of Justice, Garland’s Justice Department Locations: New York, York, Washington ,, Florida, Delaware, Trump
It's all unraveling at OpenAI (again)
  + stars: | 2024-06-04 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +10 min
In a statement to Business Insider, an OpenAI spokesperson reiterated the company's commitment to safety, highlighting an "anonymous integrity hotline" for employees to voice their concerns and the company's safety and security committee. Safety second (or third)A common theme of the complaints is that, at OpenAI, safety isn't first — growth and profits are. (In a responding op-ed, current OpenAI board members Bret Taylor and Larry Summers defended Altman and the company's safety standards.) "I have been disagreeing with OpenAI leadership about the company's core priorities for quite some time, until we finally reached a breaking point." (Altman and OpenAI said he recused himself from these deals.)
Persons: , Sam Altman, Daniel Kokotajlo, OpenAI, Altman, Helen Toner, Tasha McCauley, Toner, McCauley, Bret Taylor, Larry Summers, Kokotajlo, Jan Leike, Ilya Sutskever, Leike, Stuart Russell, NDAs, Scarlett Johansson, lawyered, Johansson, " Johansson, I've, Sam Altman — Organizations: Service, New York Times, Business, Times, Twitter, Microsoft, The New York Times, BI, Street, OpenAI, OpenAI's, Apple Locations: OpenAI, Russian, Reddit
The same media outlets and figures who have told their audiences that there is a “two-tiered justice system” in America, are now prominently covering a trial in which Biden’s own Justice Department prosecutes his son. If Biden is rigging the justice system, he is doing a lousy job. However, while Trump’s trial was treated as an illegitimate “sham” by the MAGA Media machine, the Hunter Biden trial is being portrayed in a markedly different light. Regardless of what happens in the Hunter Biden trial, however, Trump’s media allies will still undoubtedly claim that the justice system is rigged. But, even if Hunter Biden is found guilty, audiences will be told that he got off easy and should have been hit with more severe charges.
Persons: Donald Trump’s, Hunter Biden, Sean Hannity, Laura Ingraham, Jesse Watters, , Joe Biden’s, Department prosecutes, Biden, , Biden’s, don’t, It’s Organizations: New York CNN, Fox, Department, Fox News, MAGA, Democratic Party, Republican Party, GOP, MAGA Media Locations: New York, America
There is a focus on fake stories to influence attitudes on subjects like the wars in Ukraine and Gaza. But for the past year, the climate crisis has been the second-most targeted subject, according to the European Digital Media Observatory (EDMO). Official statistics, however, tell a different story: In 2022, renewables accounted for 23% of the energy consumed in the EU. The EU is considered a global leader in tackling planet-heating pollution, but climate disinformation could undermine the bloc’s ambitious goal to reduce carbon emissions by 90% by 2040, compared with 1990 levels. Its community standards policy in the past had only targeted video, but in April, it was expanded to include audio.
Persons: Morgan Wright, , streetlights, Paula Gori, , Gori, EU DisinfoLab, Wright, Gaizka Iroz, they’ve, “ They’ve, ” Gori, Pallavi Sethi, , , Facebook —, ” Wright Organizations: CNN, European Union, EU, Guardian, Bild, European Digital Media, Facebook, Getty, West, Grantham Research, London School of Economics, stoke, Services, European, Meta Locations: European, Russia, United States, United Kingdom, American, Europe, Germany, Ukraine, Gaza, EU, Spain, France, Biriatou, AFP, Africa, Asia, industrializing, Gori, Italy, Croatia, Poland, England, Grantham, Prague, Russian, Slovakia, Moscow
AdvertisementHomosexuality isn't illegal in Egypt, but the country is famous for its discrimination against the LGBTQ+ community. "Not all states have equal protection laws, especially for transgender and gender-diverse individuals," John Tanzella, president and CEO of the International LGBTQ+ Travel Association, told Business Insider. Airbnb hosts can indicate they're LGBTQ-friendly in their listings, and there are companies and entire cruise lines dedicated to gay travel. Perhaps the most comprehensive is the IGLTA, which has been helping members of the community travel safely since 1983. "The future of LGBTQ+ travel is bright," Tanzella said, though he cautioned significant hurdles still remain.
Persons: Trent, peck, we'd, we've, I'd, Equaldex, John Tanzella, Ron DeSantis, you've, Dan Leveille, it's, Leveille, Tanzella, , I've, It's, there's, I'm Organizations: Business, Ferrari, United Arab, International, Travel, Equity, Gov, Technology Locations: Jamaica, Trent, Spain, Morocco, United Arab Emirates, Egypt, United States, Florida, Berlin, Puerto Vallarta
In a 2023 Pew survey on teen internet use, only about one-third of US teens ages 13 to 17 said they used Facebook. Compare that with Pew's 2014 survey, when 71% of teens said they used Facebook. AdvertisementSecondly, Facebook is hoping to lure back young adults with offerings like Marketplace, Dating, Groups, and Events. And I don't think Facebook Dating is a huge hit. I know it seems improbable that Facebook could become cool for Gen Z, but don't count it out — they just might pull this off.
Persons: Meta, , Elon Musk's, I'm, Instagram, Mark Zuckerberg Organizations: Service, Facebook, Pew, Facebook —, Meta, Craigslist, mojo, TikTok
Novak Djokovic out of French Open with knee injury
  + stars: | 2024-06-04 | by ( Matthew Futterman | ) www.nytimes.com   time to read: +4 min
World No 1 Novak Djokovic has withdrawn from the French Open with a knee injury sustained in his round of 16 win against Argentine 23rd seed Francisco Cerundolo. Although Djokovic was able to get through on painkillers and adrenaline, the extent of the problem is too great for him to continue. If Djokovic chooses to undergo surgery on the tear, he would likely miss not just Wimbledon, which begins on July 1, but also the Olympic Games and US Open later this summer. Djokovic said Monday night, after another of his miraculous comebacks, that he had been experiencing pain in his right knee for several weeks. As of Tuesday evening in Paris, there was no decision yet on whether Djokovic would undergo surgery to repair the meniscus.
Persons: Novak Djokovic, Francisco Cerundolo, Roland Garros, , Casper Ruud, Djokovic, Ruud, Alex de Minaur, Alexander Zverev, Matthew Futterman, hasn’t, He’s, He’d Organizations: Argentine, French Tennis Federation, Norwegian, Olympic Games, Athletic, Wimbledon Locations: Serbian, Paris
A Texas prosecutor said on Tuesday that he would seek to have a court overturn Gov. Greg Abbott’s pardon of a man convicted of fatally shooting a Black Lives Matter protester in Austin in the summer of 2020. The Republican governor’s pardon last month of the man, Daniel S. Perry, who had argued that he was acting in self-defense against an armed protester, was cheered by conservatives as a recognition of the state’s “stand your ground” protections. But it was also met with outrage by the protester’s family, civil rights groups and José Garza, the Travis County district attorney whose office had secured the conviction. On Tuesday, Mr. Garza, a Democrat, said he would petition the state’s highest criminal appeals court to overturn the pardon on the grounds that the governor had violated the constitutional separation of powers doctrine by intervening with a court’s actions.
Persons: Greg Abbott’s, Republican governor’s, Daniel S, Perry, José Garza, Garza Organizations: Gov, Republican Locations: Texas, Austin, Travis County
CNN —Coco Gauff came from behind to defeat Ons Jabeur at the French Open on Tuesday and advance to the semifinals. After losing a tight opening set, Gauff recovered to win 4-6 6-2 6-3 against the eighth-seeded Jabeur, who continues her chase for a first grand slam title. The 20-year-old Gauff, meanwhile, is hoping to add to the US Open title she won last year. She was playing really well the whole match,” Gauff said in her on-court interview. “I got a little bit tight on the last couple of match points, but I think I did what I needed to do to win the match,” Gauff admitted.
Persons: Coco Gauff, Gauff, Jabeur, Roland Garros, ” Gauff, , Clive Mason, Opta, Maria Sharapova, Świątek, Vondroušová Organizations: CNN, Czech Locations: American
Read previewDonald Trump's legal team has asked for the judge who presided over his criminal hush-money trial to lift his gag order, which would give him a free hand to criticize witnesses and jurors in the trial. Related storiesIn near-daily comments to journalists outside the Manhattan courtroom during the trial, Trump criticized the gag order. At a press conference in Trump Tower on Friday, Trump continued to complain about the "nasty gag order" he was under. During the trial, Trump violated the gag order on 10 different occasions, Merchan found. The public comments — and previously determined gag order violations — could lead Merchan to issue a harsher punishment.
Persons: , Donald Trump's, Juan Merchan, Trump, Michael Cohen, Stormy Daniels, Trump's, Todd Blanche, Cohen, Daniels, Joe Biden, Trump —, Blanche, didn't, Merchan, jailing, Matthew Colangelo, Biden Organizations: Service, Business, New York, Trump, Manhattan, Attorney's Office, Associated Press, jailing Trump, Democratic, US Justice Department Locations: New, Manhattan, United States
The U.S. Small Business Administration plans to unveil new government-backed credit lines of up to $5 million for small businesses, SBA Administrator Isabel Casillas Guzman told CNBC. The SBA is launching a working capital pilot program in the coming months that is designed to be more attractive to both lenders and borrowers than the agency's existing products, Guzman said in a phone interview. The project is part of the SBA's efforts to broaden its flagship lending program for American small businesses. Through its 7(a) loan program, the SBA provides guaranties to lenders to encourage them to extend loans to small business owners. The program backed more than 57,000 loans worth $27.5 billion last year, a 7% increase from 2022; most of those loans were for less than $350,000.
Persons: Isabel Casillas Guzman, Guzman Organizations: U.S, Small Business Administration, CNBC, SBA
Please refresh the page if you do not see a player above at that time.] President Joe Biden is set to deliver remarks at the White House on Tuesday about his newly signed executive order tightening asylum restrictions at the U.S.-Mexico border. The executive order will temporarily ban undocumented immigrants from obtaining asylum when migrant crossings exceed a certain threshold — a daily average of 2,500 over seven consecutive days. Given current levels of migrant crossings, which Department of Homeland Security officials estimate at 4,000 per day, the action is expected to take effect immediately. The executive order could also have economic impacts by tightening the labor market's growth and potentially unclogging U.S.-Mexico supply chains.
Persons: Joe Biden, Donald Trump, Biden's Organizations: White, of Homeland Security Locations: U.S, Mexico
Pavlo Gonchar | Lightrocket | Getty ImagesAlmost five years ago, GameStop champion Keith Gill revealed a $53,000 bet in his favorite video game retailer. By the end of the jaw-dropping episode in April 2021, Gill exercised his call options position to have 200,000 common shares. Put another way: If the stock closes above $20 that day, Gill could exercise the options at $20 apiece, leaving him owning an additional 12 million shares. A total of 17 million shares would make him the fourth-biggest shareholder in GameStop, coming in behind Vanguard, BlackRock and Ryan Cohen's RC Ventures, according to FactSet. Zoom In Icon Arrows pointing outwardsThe notional value, if exercised, would be $240 million worth of stock bought at $20.
Persons: Keith Gill, Pavlo Gonchar, Gill, Michael Khouw, Khouw, Morgan Stanley's, Ryan Cohen's Organizations: GameStop, Lightrocket, Street Journal, CNBC, Vanguard, BlackRock, Ryan Cohen's RC Ventures
Kremlin spokesman Dmitry Peskov attends the 8th Russian-Chinese EXPO and the 4th Russian-Chinese Forum on Interregional Cooperation in Harbin, China, May 17, 2024. Sergei Bobylyov | Via ReutersThe Kremlin denied an allegation that it is waging a disinformation campaign against France, its president and the 2024 Olympic Games in Paris. The Microsoft Threat Analysis Center, or MTAC, said Sunday that "Russia is ramping up malign disinformation campaigns against France, French President Emmanuel Macron, the International Olympic Committee (IOC), and this summer's Olympic Games in Paris." On Tuesday, Kremlin press secretary Dmitry Peskov characterized the MTAC's accusations against Russia as slander, news agency RIA Novosti reported. Russian President Vladimir Putin claimed Ukraine's losses are eight times higher than those of Russia during an interview with Chinese media.
Persons: Dmitry Peskov, Sergei Bobylyov, Emmanuel Macron, Peskov, Macron, Vladimir Putin, Ludovic Marin Organizations: Interregional Cooperation, Reuters, Kremlin, France, Microsoft, International Olympic Committee, IOC, RIA Novosti, Olympic Games, Russian, NATO, Afp, Getty Locations: Russian, Harbin, China, Paris, Russia, France, Ukraine, Belarusian
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