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No matter who wins the White House and control of Congress this autumn, one aspect of trade policy is likely to endure: Washington’s tough-on-China protectionist stance. But several trade experts predict that the America-first model of slapping tariffs on adversaries — as President Biden did this week — will backfire. Critics of tariffs and export restrictions say they not only will potentially exacerbate inflation and drag down economic growth, but are also likely to fail for a simpler reason: Chinese companies may see their businesses slowed down by the restrictions, but have found ways to beat them. As Alex Durante, an economist at the Tax Foundation, a nonpartisan think tank that works with policymakers in the United States and Europe, bluntly put it: “They don’t work.”Huawei has shown that companies can find workarounds. Last year, the Chinese telecom giant unveiled the Mate 60, a smartphone powered by a high-end semiconductor.

Persons: —, Biden, Alex Durante, ” Organizations: White, Tax Foundation, ” Huawei Locations: China, America, United States, Europe, Washington

☆ Markets underestimate geopolitical risk as raft of elections looms, ECB's De Guindos says
▼ + stars: | 2024-05-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

And simultaneously, we are referring to geopolitical risks. I think that, you know, markets sometimes are underestimating the potential impact of geopolitical risks that are there," Luis de Guindos told CNBC's Annette Weisbach. Rising geopolitical risks present "considerable downside risks," the ECB warned in the report. The report attributes the rally in financial markets to analyst expectations of interest rate cuts from major central banks this year. "And that's the element that you cannot ignore, you cannot overlook this potential impact that could affect risk aversion, risk attraction, commodity prices, growth, overall growth in the global economy."

Persons: Luis de Guindos, CNBC's Annette Weisbach, De Guindos Organizations: European Central Bank, Stock, U.S, ECB Locations: U.S, Europe, East, Ukraine

☆ 3 tricks legacy media companies can learn from social-video platforms, per a new Accenture report
▼ + stars: | 2024-05-16 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Read previewTraditional media and entertainment companies must undergo "radical levels of reinvention," John Peters, Accenture's lead for media and entertainment clients, told Business Insider. Traditional media companies, like live broadcasting or linear channels, are "seeing viewership migrate away from their platforms," Peters said. Advertisement"They're increasingly moving to social media and social video platforms and video games," Peters said. Here are three things that traditional media companies can learn from social media giants, per the Accenture report. AdvertisementPeters also pointed to events like the annual Academy Awards or live sports as opportunities for media companies to use UGC.

Persons: —, John Peters, Accenture's, Peters, Goldman Sachs, Nikki Mendonca, Mendonca, Elon Organizations: Service, Accenture, Business, Media Industry, Netflix, Hulu, WARC Media, Meta, Media, UGC, Apple, Google, Spotify, Disney Locations: North America, Europe, Asia, America

☆ I tried 23 popular frozen meals from Trader Joe's, and would buy at least half of them again
▼ + stars: | 2024-05-16 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +34 min

I'm picky about instant meals, though, so I reviewed 23 of Trader Joe's frozen entrées. AdvertisementVERDICT: Although Trader Joe's penne arrabbiata could make for a satisfying, last-minute dinner, it wasn't memorable enough for me to buy again. Trader Joe's frozen section offers many different Tex-Mex and Mexican-inspired dishes, but I noticed these because of the "hatch chile" description. I thought Trader Joe's vegetable-and-cheese enchiladas were a disappointing, soggy messOnce cooked through, Trader Joe's vegetable-and-cheese enchiladas didn't impress me. I hoped Trader Joe's spicy peanutty noodle bowl with chicken would be goodI enjoyed Trader Joe's spicy peanutty noodle bowl with chicken.

Persons: —, Joe's, Wilson, Wilson I'm, it's, penne arrabbiata, I'm, fryer, Savanna, gooey Monterey Jack oozed, they're, might've, I've, provolone, Wilson Jackfruit, didn't, It's, I'd, you've, mozzarella, Bolognese, would've, bolognese, microwaving, gnocchi, it'll, chow, chiles, Wilson I, raved Organizations: Service, Business, Monterey, Wilson, Joe's Locations: Savanna, Monterey Jack, gooey Monterey, Cuban, pesto, jalapeño, gnocchi

☆ Why Biden’s monster EV tariffs could inflame a Europe-China trade war
▼ + stars: | 2024-05-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

It’s a very different matter in Europe — by far the biggest export market for Chinese EV manufacturers. EU tariffs could backfireAccording to Citi, the EU accounted for 36% of Chinese EV exports last year, more than the next five largest markets combined. By contrast, the United States currently receives just 1.1% of China’s EV exports. For BYD, China’s biggest EV maker, the tariffs would likely have to be even higher to be effective, they add. “I’d say we are entering a very tense period in terms of trade interactions and trade defense,” she added.

Persons: Joe Biden, “ I’m, ” Biden, Joseph Webster, Agatha Kratz, Kratz, That’s, Oliver Zipse, ”, Tu Le, “, Josh Lipsky, Juliana Liu Organizations: London CNN, United, EV, European Union, Atlantic Council, EU, CNN, Citi, Capital Economics, BMW Locations: China, America, Europe, United States, It’s, Brussels, “ Brussels, Beijing, subsidization, EU, States, Italy, Hong Kong

☆ Europe must avoid ‘disaster’ of trade decoupling as it eyes China tariffs, EU's economics chief says
▼ + stars: | 2024-05-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc's economic chief said Wednesday. "But this is not bringing us to a theory of decoupling of global trade, which would be a disaster for both parts of the decoupling," he said. "The characteristic of the EU economy is to be more open, more influenced by trade, and less by only internal consumption. This is the reason, the economic reason, why it is in the interest of the European Union to keep the doors of trade open." Meanwhile, several EU nations are nervous about potential Chinese retaliatory trade measures hitting important domestic industries, from German automotives to French cognac.

Persons: Paolo Gentiloni, CNBC's Silvia Amaro, Gentiloni Organizations: European, European Union, CNBC Locations: European Union, Europe, China, EVs, U.S, Russia, Ukraine

☆ Behind the curtain of the global arms trade
▼ + stars: | 2024-05-14 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +7 min

In his new book, "Nothing Personal: The Back Office of War," photographer Nikita Teryoshin lifts the veil on the global arms trade, capturing defense exhibitions worldwide. Closed to the public, his series offers a rare inside look into the lucrative global arms industry. Guests, politicians, and traders watch a live demonstration of warfare at the International Defense Exhibition in Abu Dhabi. After the construction and the oil and gas sectors, the global arms trade is one of the most corruption-prone sectors in the world, according to Transparency International. By contrast, the international trade of bananas is more tightly regulated than the arms trade, according to the introductory note of the United Nations Arms Trade Treaty.

Persons: Nikita Teryoshin, Teryoshin, Rafael, KAI, Lockheed Martin Organizations: Business, International Defense, Bofors, International Defense Industry, International Defense Exhibition, Rafael Advanced Defense Systems, United Nations Arms, Black Eagles, Nikita, Kalashnikov, Lockheed Locations: East, Ukraine, France, Paris, United States, China, Abu Dhabi, Russia, India, Poland, UAE, Saudi Arabia, Peruvian, Lima , Peru, Korean, Seoul

☆ Meet the students stacking internships and battling each other to get a foot in Goldman Sachs' and JPMorgan's doors
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

All this, the business administration student says, is part of his quest to land a job with a big bank like Goldman Sachs or JPMorgan. Advertisement"I have to grind a lot for academics and then do internships on top of that," Loh said. Many Singapore students have adopted a similar playbook to Loh's, padding their résumés with stacks of internships in the hopes of landing a spot at a top bank. AdvertisementHussain ended up doing five internships throughout his college career, including stints at a hedge fund and a private bank. Tan is slated to join a top European bank as an investment banking analyst this summer.

Persons: —, Channon Loh, he's, Loh, Goldman Sachs, Mike Kemp, Eric Sim, Sim, It's, Adnan Hussain, Hussain, Adnan Hussain Adnan Hussain, you'll, Nicholas Tan, Tan, Duo Geng Goh, Goh, it's, Chi Ang, gunning, Ang, Adrian Choo, Choo Organizations: Service, National University of Singapore, NUS, JPMorgan, Business, Getty, Goldman, Harvard, Crazy Rich, UBS Investment Bank, BI, Singapore Management University, SMU, Students, Banking Locations: Singapore, Crazy

☆ Why are luxury brands waging war on the ‘upcycled’ clothing market?
▼ + stars: | 2024-05-13 | by ( Sarah Kent | ) edition.cnn.com time to read: +10 min

Editor’s Note: This article was originally published by The Business of Fashion, an editorial partner of CNN Style. The design was upcycled from vintage Chanel scarves by stylist Logan Horne, whose brand, J. Logan Home, specializes in refashioning heritage luxury accessories. Fashion brands' legal claims are varied but ultimately boil down to concerns that third parties are free-riding on brands’ valuable IP in ways that could risk confusing consumers, eroding primary sales and tarnishing or diluting carefully cultivated marks. Some big brands, like Prada, Gucci and indeed Levi’s, have already dabbled with upcycling collections and programs of their own. These days, she says she’s having about a conversation a week with brands interested in exploring collaboration, but the industry moves slowly.

Persons: Travis Kelce, Logan Horne, Logan, Webster, They’ve, Chanel, Horne, ”, Susan Scafidi, J, Logan Home’s, Christian Vierig, Louis Vuitton, Levi’s, Jeremy Moeller, Irene Calboli, ” Chanel, des, Batsheva Hay, Monica Schipper, “, Hay, upcycling, I’m, Prada, Gucci, Anna Foster, Gabriela Hearst Organizations: The, Fashion, CNN, NFL, Dua, Law, Paris Fashion, Business of, “, Getty, Logan Home, Texas, M University, Fashion Trust, Business of Fashion, Industry Locations: New York, Texas, Beverly Hills , California, India, Europe

☆ Opinion: Trump’s congestion pricing outrage is classic ‘dead cat’ strategy
▼ + stars: | 2024-05-09 | by ( Opinion Rosa Prince | ) edition.cnn.com time to read: +8 min

In short, Trump’s New York congestion comment was classic dead cat. In the same Truth Social message, the former president mused about the impact of congestion pricing elsewhere in the world. After all, congestion pricing has been introduced in a number of cities, from Singapore to Stockholm, over the past 25-odd years. I live about four miles from the edge of the congestion zone, and it’s never once been a problem to circumvent. By most metrics, London’s congestion pricing experiment has been a resounding success.

Persons: Rosa Prince, Read, Donald Trump, ”, Rosa Prince Rosa Prince Here, Stormy Daniels, mused, It’s, “, I’m, it’s, Akmen, they’re, Boris Johnson, there’s, Sadiq Khan, Ella Roberta Adoo, Khan, Mayor Khan, he’s Organizations: Politico UK, London CNN — Former, New, Big Apple, Getty, Conservative, Transport, London, Labour Party, Trump, TfL, CNN, Twitter, New Yorker Locations: New York City, New York, Singapore, Stockholm, London, AFP, It’s, Manhattan, London —, England, New

☆ Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships
▼ + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast. "Ultra-large container vessels have challenged every port," said Stephen Edwards, CEO of the Port of Virginia. Edwards said the port was able to quickly absorb Baltimore freight because of the ocean carrier service overlap in calling on the Port of Virginia, Baltimore and Port of New York/New Jersey. In January, the port became the first East Coast port to power all its terminals with 100% clean energy, eight years ahead of the 2032 target it set for that goal. The expansion will increase the fleet at NIT to 152 electric stacking cranes, seven electric rail cranes, and 31 electric ship-to-shore cranes.

Persons: Lori Ann LaRocco, Stephen Edwards, " Edwards, Edwards, It's, Good Hope, D'Andrae Larry, Larry, Jones, monopiles, Monopiles Organizations: NIT, CNBC, U.S ., Commonwealth, Walmart, Maersk, Port, Baltimore, Rail, Norfolk International, Uber, Virginia Department of Transportation, Dominion Energy, Rappahannock Electric Cooperative, ClearView Energy Partners, of Ocean Energy, U.S, District of Columbia, Dominion Locations: Port of Virginia, Port, Virginia, U.S . East Coast, Norfolk, Coast, of Virginia, East Coast, U.S, Delaware, South, Southeast Asia, Northeast Asia, India, Red, Suez, Good, Baltimore, Port of Baltimore, Port of New York, New Jersey, of Virginia's, Commonwealth, Norfolk , Virginia, East, Virginia Beach

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ These ETFs promise investors downside protection — at a cost
▼ + stars: | 2024-05-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Investors looking for protection against market downside are turning toward buffer exchange-traded funds, also known as defined-outcome ETFs. Buffer ETFs have exploded in popularity in recent years, although they are still a small slice over the overall industry. How buffer ETFs work Managers use a set of equity options when building a fund. Recently, Calamos announced a new product line of 12 ETFs that offers 100% downside protection. The first in the line, Calamos S & P 500 Structured Alt Protection ETF (CPSM) , began trading May 1.

Persons: Lan Anh Tran, Morningstar, Tran, Todd Sohn, Strategas, Sohn, Calamos, Russell, Matt Kaufman, Kaufman, Morningstar's Tran, HELO 1Y, It's Organizations: Morningstar, Strategas Securities, Capital Management, Equity, PGIM, Allianz, BlackRock, Treasury, Trust, JPMorgan Hedged Equity, JPMorgan Locations: BlackRock

☆ Oil edges up after Israel strikes Gaza, while truce talks continue
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Oil rig and pump of H&P Rig 488 in Stanton, Texas, on June 8, 2023. Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Israeli forces struck Rafah on Gaza's southern edge from the air and ground and ordered residents to leave parts of the city, which has been a refuge for more than a million displaced Palestinians. Riyadh's move to raise the official selling prices for its crude sold to Asia, Northwest Europe and the Mediterranean in June also supported prices, signaling expectations of strong demand this summer. The world's top exporter hiked its flagship Arab Light crude oil price to Asia to $2.90 a barrel above the Oman/Dubai average in June, the highest since January and at the upper end of traders' expectations in a Reuters survey.

Persons: Israel Organizations: Brent, U.S, West Texas, Hamas Locations: Stanton , Texas, Israel, Rafah, Gaza, Israeli, Asia, Northwest Europe, Oman, Dubai

☆ The US crackdown on Russian trade is working as Putin struggles to fund his war
▼ + stars: | 2024-05-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Trade with Russia has slumped in the first quarter amid tightening US sanctions, the Financial Times said. After a December executive order bolstered its sanctioning power, the department has amplified warnings against foreign lenders that facilitate trade with Russia. At the same time, the US' crackdown has proliferated trade in the Russian ruble, as other currencies increasingly fall out of favor. That's as foreigners are still free to buy rubles on the Moscow Exchange when settling payments with Russian parties. AdvertisementStill, the ruble faces restricted convertibility, making it difficult to reach trade volumes once possible under the dollar.

Persons: —, Vladimir Potanin, That's Organizations: Financial Times, Companies, Service, US Treasury Department, United Arab Locations: Russia, China, Turkey, Ankara, United Arab Emirates, Austria, Russian, Iran, Tehran, Moscow, UAE, dirhams

☆ Dollar steady after soft U.S. jobs report; yen starts week on back foot
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data. But with Japanese authorities choosing last week's quiet periods to intervene in the yen market, traders will be on high alert through the day. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in.

Persons: Jerome Powell, Goldman Sachs Organizations: Federal Reserve, Bank of, Fed, Citi Locations: Japan, Britain, Bank of Japan, U.S

☆ Chinese warplane fired flares, put Australian Navy helicopter in danger, Canberra says
▼ + stars: | 2024-05-06 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

The Chinese jet “dropped flares about 300 meters (984 feet) in front of the Seahawk helicopter and about 60 meters (197 feet) above it,” Marles said in an interview with 9 News on Monday. The MH-60 Seahawk is a twin-engine helicopter and carries a crew of three, according to the Australian Navy. “They’re in international waters, international airspace, and they’re doing work to ensure that the sanctions that the world has imposed through the United Nations on North Korea, due to their intransient and reckless behavior, are enforced,” the prime minister told CNN affiliate Nine News. According to Australian public broadcaster ABC, Australian Navy Vice Adm. Mark Hammond raised the Toowoomba incident in a meeting with Chinese navy Adm. Hu Zhongming at an international naval symposium in Qingdao. Earlier in 2022, Australia said a Chinese warship used a laser to “illuminate” an Australian P-8A aircraft in waters north of Australia.

Persons: Anthony Albanese, Richard Marles, ” Marles, Albanese, “, ” Albanese, “ We’ve, ”, Maj, Rob Millen, Peter Dutton, Xi Jinping, ” Dutton, Mark Hammond, Hu Zhongming, Hammond Organizations: South Korea CNN —, Seahawk, Nations, Defense Ministry, Australian Defense, Australian Navy, United Nations, North, Australian Defense Ministry, CNN, Nine, Royal Canadian Navy, Australian Defence Force, Nine News, Australian, ABC, ” ABC, Pilots Locations: Seoul, South Korea, South Korea CNN — Australia, North Korea, Canberra, Beijing, China, Canadian, South, Ottawa, Australia, Philippines, Japan, United States, Chinese, Toowoomba, Qingdao, “, South China Sea, ”, Australian

☆ Corn hits 3-month high; soy, wheat climb on global crop weather woes
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +2 min

Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world's biggest wheat supplier. In Argentina, corn stunt disease spread by leaf-cutter insects and adverse weather prompted the Buenos Aires grains exchange to slash its estimate for Argentina's 2023/24 corn harvest by 3 millions metric tons to 46.5 tons. In wheat, Russia's IKAR agricultural consultancy cut its forecast for the country's crop to 91 million metric tons from 93 million tons and its wheat exports to 50.5 million metric tons from 52 million tons. Wheat futures jumped as weather forecasts showed the region getting virtually no rain in the coming two weeks. Managed money funds held a net short position in CBOT wheat futures at the beginning of 2024 because of a strong dollar and slow U.S. demand, Zuzolo said.

Persons: Jim Niewold, Susan Stroud, Mike Zuzolo, Nature, Zuzolo Organizations: Chicago Board of Trade, Global, Analytics Locations: Loda , Illinois, Brazil, Russia, Brazil's Rio Grande do Sul, Argentina, Buenos Aires, South America

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Treasury yields hold steady as investors weigh monetary policy outlook
▼ + stars: | 2024-05-02 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point to 4.5975%. The 2-year Treasury yield was last at 4.9393% after rising by less than one basis point. U.S. Treasury yields were little changed on Thursday as investors digested the outcome of the latest Federal Reserve meeting. Investors considered the path ahead for interest rates after the Federal Reserve's meeting concluded on Wednesday. Policymakers also provided some guidance about the outlook for interest rates, with Fed Chairman Jerome Powell indicating that it was unlikely for the next interest rate decision to be a hike.

Persons: Jerome Powell, Powell Organizations: Treasury, Reserve, Federal, Fed

☆ Here are Thursday's biggest analyst calls: Ferrari, Netflix, Tesla, Nvidia, TJX, Carvana & more
▼ + stars: | 2024-05-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS upgrades Burlington to neutral from sell UBS said the outlook for Burlington is improving. Jefferies reiterates Netflix as buy After a change in analyst coverage, the firm says it's standing by its buy rating. UBS upgrades TJX Companies to buy from neutral UBS says the off-price retailer is a "growth stock with surprising upside." UBS downgrades CVS to neutral from buy UBS said it sees too much uncertainty for shares of CVS. JPMorgan upgrades Carvana to overweight from neutral JPMorgan upgraded Carvana following earnings on Wednesday.

Persons: Morgan Stanley, Ferrari, Mizuho, C27E, BURL, Jefferies, Rosenblatt, TD Cowen downgrades Wolfspeed, Cowen, Raymond James, Parsons, Ziff Davis, KBW, Piper Sandler, Cantor Fitzgerald, Tesla, Cantor, it's bullish Organizations: Nvidia, Mizuho, UBS, Netflix, Networks, Enterprise, Jefferies, CTV, TJX Companies, Department Stores, CVS, JPMorgan, Susquehanna, MGM, Bank of America, Community Bank, Piper, NYCB, ~$ Locations: Burlington, Las Vegas

☆ Truth Social Co-Founder Says Trump Nearly Derailed Deal That Led to Market Windfall
▼ + stars: | 2024-05-01 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump’s social media company is currently worth over $6 billion. But the agreement that set the stage for its stock market debut in March was nearly derailed years earlier by Mr. Trump, who is now the biggest beneficiary of its richly valued stock, one of the firm’s co-founders said on Wednesday. Andy Litinsky, who helped start Trump Media & Technology Group, the parent company of Truth Social, testified in federal court that he had doubts about whether Mr. Trump would agree to take the firm public by merging it with a cash-rich shell company, even as the deal-signing ceremony was set to take place at the former president’s Mar-a-Lago residence in late 2021. Mr. Litinsky, a former contestant on Mr. Trump’s reality television show “The Apprentice,” said that before the ceremony, Mr. Trump had asked him whether he should go ahead with the merger of Trump Media and the shell company, Digital World Acquisition Corporation. Mr. Litinsky was in court in Manhattan testifying as a witness in an insider trading trial that arose from an investigation of traders who made millions of dollars with well-timed purchases of Digital World’s stock before the merger announcement on Oct. 20, 2021.

Persons: Donald J, Trump, Andy Litinsky, Litinsky, ” Organizations: Trump Media & Technology Group, Truth, Trump Media, Acquisition, Mr, Digital Locations: Manhattan

☆ How CEOs are preparing for possible employee protests
▼ + stars: | 2024-04-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

You can always choose to move on, but remember you don’t have a right to work at most companies. We can’t keep re-litigating when we also have a business to runYou speak with CEOs every day. Most of the CEOs I’ve talked to said they haven’t seen their employees protest, but they’re bracing for it. But I will say that I don’t think it will become that widespread because of how swiftly and unapologetically Google addressed it. I don’t think it will become a thing.

Persons: Sundar Pichai, Bell, Johnny C, Taylor Jr, that’s, we’re, We’re, we’ve, I’m, You’d, They’re, I’ve, Royce, Peter Valdes, “ We’re, ”, Martin Fritsches, “ That’s, Brian Fung, Sean Lyngaas, Satya Nadella, Sam Altman, Northrop Grumman, Alejandro Mayorkas Organizations: CNN Business, Bell, New York CNN, Google, Tech, Society for Human Resource Management, Companies, Royce, BMW, OpenAI, Microsoft, Department of Homeland Security, Delta Air Lines, DHS, “, Amazon Web Services, IBM, Cisco, ’, Civil Locations: New York, Israel, Chichester , England

One of the architects of that plan for a Trump second term said as much in a video last year for the Heritage Foundation. Reissuing Schedule F is part of a roadmap, known as Project 2025, drafted for a second Trump term by scores of conservative groups and published by the Heritage Foundation. The new rules would not fully block reclassifying workers in a second Trump term. Greene said she worries for federal workers who might face the same choice in a second Trump term. The project includes a personnel database for potential hires in a second Trump administration.

Persons: Donald Trump, it’s, —, Trump, Joe Biden, Donald Moynihan, Georgetown University's, ” Donald Moynihan, ” Moynihan, “ It’s, ”, Russell Vought, “, you’re, Doreen Greenwald, Moynihan, Kenneth Baer, Barack Obama, ” Kenneth Baer, Peter Orszag, Pete Souza, Robert Shea, Eva Shea, George W, Bush, Laura Bush, Tina Hager, ” Biden, Baer, George Frey, ” Trump, Max Stier, Verna Daniels, ” Daniels, Catherine Greene, ” Greene, Tom Bewick, NIFA, ” Bewick, we’ll, Greene, Biden, “ We’ve, He’s, Hillary Clinton, he’d, James Comey, Bill Barr, Barr, Jeffrey Clark, Clark, Mark Meadows, Stephen Miller, Peter Navarro, he’ll Organizations: CNN, United, Republican, Democratic, Trump, ”, Georgetown, Georgetown University's McCourt School, Public, Georgetown University, Heritage Foundation, Management, Budget, of Justice, FBI, Environmental Protection Agency, Vought, National Treasury Employees Union, OMB, White, Personnel Management, Land Management, Department of Agriculture, Kansas City, Partnership for Public Service, Government, Office, GAO, Economic Research Service, National Institute of Food, Agriculture, USDA, National Institute for Food, NIFA, Applied Economics Association, BLM, Getty, Department of Justice, Justice Department, Univision, Justice, Department, U.S . Justice, Center, Washington Post, National Security and Intelligence, of Homeland Security, of Education and Commerce, Federal Communications Commission, Federal Trade Commission Locations: United States, Washington, Georgetown, , Colorado, DC, Kansas, Colorado, Virginia, America, Grand Junction, Washington ,, New York City, New York, Georgia

☆ Global arms fairs from Russia to the UAE: Photographer’s take on bizarre world
▼ + stars: | 2024-04-24 | by ( Christy Choi | ) edition.cnn.com time to read: +10 min

CNN —An arms fair may contain all the trappings of war, but it is nothing like a battlefield. Nikita TeryoshinA shot of the reception at the 2016 MSPO expo, the biggest arms fair in Eastern Europe. “It was the only (arms fair I’d been to) where they were shooting real rockets over 20 kilometers (12 miles) maybe,” said Teroyshin. Fairgoers wait for a shuttle to a live demonstration site during the 2019 Army military expo held in Alabino, Russia. Forever.”) is paired with an image of three women in Islamic veils at an arms fair, one pretending to hold a rifle depicted in the poster in front of her.

Persons: ”, Nikita Teryoshin, “, ” Teryoshin, Nikita Teryoshin “, Teryoshin, Majid, Teroyshin, Lockheed Martin, Nikita Teryoshin Teroyshin, ‘, KAI, Nikita Teryoshin Saudi, Linda Åkerström, eyeshadow, Nikita Teryoshin Åkerström, ” Teroyshin, he’s, Åkerström, you’ll Organizations: CNN, Swedish Bofors, expos, Tiger, Kalashnikov, Lockheed, Manufacturing, ITT, Otis Defence, CTA, Elbit Systems, BAE Systems Locations: Russian, Swedish, Kielce, Poland, Lima , Peru, Belarus, France, Germany, South Korea, China, UAE, Peru, Russia, Vietnam, USA, South Africa, Lucknow, Uttar Pradesh, India, “, DEFEXPO, Eastern Europe, Mali, Alabino, Abu Dhabi, Paris, Dortmund, Seoul, IDEX, Central, Western Europe, Saudi Arabia, Qatar, Australia, Ukraine

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