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☆ As China's intelligence capabilities grow, spying becomes an increasing flashpoint in ties with US
▼ + stars: | 2023-06-15 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +12 min

They underscore how intelligence gathering – an activity meant to go on without detection, out of the public eye – is becoming an increasingly prominent flashpoint in the US-China relationship. That pushes intelligence gathering itself to become “another factor that is complicating US-China relations,” he said. That’s especially the case, experts say, as China continues to expand its own intelligence gathering capabilities – catching up in an area where the US has traditionally had an edge. Other arms of the Communist Party apparatus also play a role in activities beyond conventional intelligence gathering, experts say. Heightened concern and awareness about Chinese intelligence gathering – or the potential for it – has exploded in the US in recent years.

Persons: Antony Blinken, Blinken, Bill Burns, ”, Lyle Morris, Christopher Johnson, “, there’s, they’ve, Johnson, Xi Jinping, That’s, Xuezhi Guo, Guo, Xi, Hector Retamal, –, TikTok –, Edward Snowden, ’, Shou Zi Chew, Jabin, John Delury, John T, Downey, Delury Organizations: Hong Kong CNN, US, White House, CIA, CNN, Asia Society, Center for, Central Intelligence Agency, China, Group, U.S . Navy, AP, Guilford College, People’s Liberation Army, Ministry of State Security, Communist Party, Federal Bureau of Intelligence, The New York Times, Huawei, TikTok, Tiktok, US Justice Department, China Initiative, Center for Strategic, International Studies, National Security Agency, US Central Intelligence Agency, Washington, China ”, Energy, Commerce, Capitol, Washington Post, Subversion Locations: Hong Kong, United States, China, Beijing, American, Cuba, US, Center for China, South, Russia, AFP, Washington, USA, South China, Washington , DC

☆ China opens a new era of 'proactive easing' as the economic recovery turns sour
▼ + stars: | 2023-06-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

SHANGHAI, CHINA - NOVEMBER 04, 2022: Buildings at Lujiazui Financial District are illuminated to celebrate the opening ceremony of the 5th China International Import Expo (CIIE) on November 4, 2022 in Shanghai, China. Vcg | Visual China Group | Getty ImagesStock Chart Icon Stock chart iconPointing to soft economic figures from China, including credit data, Citi economists said "stimulus seems to be underway with the weak readings." Barclays economists, writing in a Tuesday note titled "Entering a rate cut cycle," predict China will deliver a cut for every quarter until early 2024. China's central bank controls the benchmark one-year lending and deposit rates, which affect the borrowing costs for banks, businesses and individuals across the country. Mizuho Bank's Head of Economics and Strategy for Asia Vishnu Varathan argued that the latest actions from China's central bank "does not cut it."

Persons: 50bp, Jian Chang, Goldman Sachs, Hui Shan, Asia Vishnu Varathan Organizations: Lujiazui Financial, 5th China, Visual China, Getty, Citi, Barclays, Bank's, Economics Locations: SHANGHAI, CHINA, Shanghai, China, Asia

☆ Where is the best place in New York City for a finance office?
▼ + stars: | 2023-06-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

So if you have to come in, where's the best place to go? Note: Most of the companies listed below have multiple office locations beyond the one listed. An open letter to big banks going through an identity crisis. My open letter to big banks. Here's a list of nearly a dozen of the best chocolates you can buy, according to a professional chocolatier.

Persons: Dan DeFrancesco, we've, Spencer Platt, It's, Goldman Sachs, BNY Mellon, We'll, Morgan Stanley, Jefferies, You've, I'm, Gene Wilder, Willy Wonka, Stephanie Cohen, Banks, We've, Brace, it's, Jeffrey Cane, Hallam Bullock Organizations: Getty, Apple, Downtown . Companies, NYSE, BNY, Metro North, . Companies, Bank of America, Barclays, BNP, Midwest, Midtown East . Companies, Blackstone, Millennium, Grand Central, Yards, Hudson Yards, Plaid, Rho Technologies, Connecticut . Companies, Paramount, Maverick Capital, Tiger Global, D1, JPMorgan, LinkedIn Locations: Downtown, JPMorgan, MarketAxess, BlackRock, midtown, — Flatiron, NoHo, Connecticut, Bridgewater, AQR, London, Citadel, New York

☆ CNBC Daily Open: Don’t get too bullish yet
▼ + stars: | 2023-06-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 inched up 0.11%, the Dow Jones Industrial Average added 0.13% and the Nasdaq Composite climbed 0.16%. The S&P had four straight weeks of gains, but more significantly, it's up 20% from its October low. "Everything we own in our portfolios, we're stressing for a couple quarters of -3% to -5% real GDP," Michele said.

Persons: Stephen Suttmeier, everyone's, JPMorgan's Michele, FactSet, Michele Organizations: NYPD Emergency Service Unit, Financial, CNBC, Dow Jones, Nasdaq, General Motors, Bank of America, Federal Locations: Manhattan , New York City

☆ The S&P climbs into bull market territory, with the Fed back in focus next week
▼ + stars: | 2023-06-10 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

This past week proved be another win for the bulls, as the market rally broadened out beyond the big players in the tech sector. The S & P 500 is officially in bull market territory, closing up over 20% from its October 2022 low. ET: Federal Open Market Committee Meeting After the bell: Lennar (LEN) Thursday, June 15 8:30 a.m. On Thursday, initial jobless claims increased by 28,000 for the week ending June 3, to 261,000, well above the 235,000 expected by the market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, LEN, Jabil, Jim Cramer's, Friday's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, CPI, PPI, Kroger, KR, Micro Devices, Jim Cramer's Charitable, AMD, U.S, West Texas, Treasury, CNBC, Street Bull, Financial, Getty Locations: U.S, New York City

☆ How a Maitre d’ at Balthazar Spends His Sundays
▼ + stars: | 2023-05-28 | by ( Tammy La Gorce | ) www.nytimes.com time to read: +1 min

Zouheir Louhaichy, the head maître d’ at Balthazar, the perennially popular SoHo brasserie, doesn’t give just any customer his cell number. Those who have it, though, are not shy about reaching out on Sundays, his day off. “I’ll get texts from regulars who are either desperate to get in on short notice or need help with future requests,” he said. Between returning regulars’ texts on Sundays, he trains for triathlons. I love Hawaiian coffee because the beans are sort of a connection to Hawaii, which I love.

☆ Floating tiny homes in London's financial district are on sale for $300,000. Take a look inside.
▼ + stars: | 2023-05-21 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Three unusual floating homes are on sale in Canary Wharf, east London. The houses are docked alongside houseboats and barges in a wharf near the financial district. Loading Something is loading. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThree unusual floating homes are up for sale in London's Canary Wharf, the UK capital's financial district. Real estate agents Hamptons told Insider said the 344 square foot properties are among several boat residences that have become popular in marinas across London.

☆ Morning Bid: Rehash on rates ahead as ECB, BOE and Fed speak
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Flowers are seen outside the Bank of England in the City of London financial district in London, Britain May 11, 2023. REUTERS/Henry NichollsA look at the day ahead in European and global markets from Vidya RanganathanSeveral key central bankers, including Fed Chair Jerome Powell, appear at a variety of events today, ensuring investors have plenty of commentary, and nearly similar synopses. The messaging from the BOE after last week's 12th rate rise has been consistent: It isn't done, the labour market is tight, quantitative tightening might even pick up pace. Wall Street, Treasury yields, implied U.S. interest rates and the dollar all rose on Thursday. G7 leaders kicked off a three-day summit in Hiroshima on Friday, and the focus there is on fresh sanctions against Russia and what they say about China.

☆ China's economy is growing again. So why are investors dumping stocks?
▼ + stars: | 2023-05-19 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Investors trimmed their exposure to China amid economic uncertainty in the country, rising geopolitical tensions and Beijing’s crackdown on international consulting firms. The Nasdaq Golden Dragon China Index has lost more than 5% since April 18. Another concern for global investors is the country’s “fundamental investability,” he said, referring to geopolitical and Chinese policy risks. Ontario Teachers’ Pension Plan, one of the world’s largest pension funds, has closed its Hong Kong-based China equity investment team. “The more cracks appear in Western economies,” the more global investors will need to put money into Chinese assets, he added.

☆ The Dawn of a New ‘Century’
▼ + stars: | 2023-05-18 | by ( Emma Grillo | ) www.nytimes.com time to read: +1 min

About two hours after Century 21 reopened as Century 21 NYC in Lower Manhattan on Tuesday, the store’s point-of-sale system crashed. “This goes to show you that they should have never went out of business,” said Denise Danny, 58, from Staten Island. Ms. Danny, who had a shopping cart full of clothes, was standing in a line that had formed at a register on the department store’s second floor. At the time, Century 21 had 13 locations in four states. But arguably, none was as popular as its flagship location on Cortlandt Street in the Financial District, which was opened in 1961 by two cousins, Al Gindi and Samuel Gindi, who was known as Sonny.

☆ The countdown is on for DeSantis' presidential kickoff, just as 2024 frontrunner Trump readies powerful exit from Florida
▼ + stars: | 2023-05-18 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

Polling has him second to Trump, who has been living in Florida at Mar-a-Lago in Palm Beach. Donald Trump's permanent residence is in Palm Beach, Florida, at his Mar-a-Lago oceanside estate. New Jersey, therefore, is set to become the new go-to spot for the GOP right around the time that the DeSantis campaign kicks off. On Monday, DeSantis' political team moved to a new office in Tallahassee, NBC News reported. The DeSantis political operation declined to share details of the governor's plans, including formal rollouts and events that may come later.

☆ News startup Messenger launches with Trump 'exclusive' while advertisers expressed skepticism ahead of debut: 'We can't have another Quibi'
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

Jimmy Finkelstein's startup The Messenger launched today with a Trump interview leading the site. Advertisers said it'll be tough to sell ads on a site without an established audience. The site led with an interview with former President Donald Trump and ads from the American Petroleum Institute. The Messenger said it'll roll out seven other verticals including business, entertainment, and sports later in the year. Image from The Messenger's launch ad campaign.

☆ The Messenger, Jimmy Finkelstein's digital news startup, meets advertiser skepticism ahead of May 15 launch: 'We can't have another Quibi'
▼ + stars: | 2023-05-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

Jimmy Finkelstein's startup The Messenger will roll out an ad campaign touting its mission to provide unbiased news. An ad campaign by Publicis unit Le Truc will kick off May 22 and is designed to provoke, with copy like "Agendas are for meetings. Image from The Messenger's launch ad campaign. The Messenger said it'll have three to four big advertisers at launch as well as a significant amount of programmatic advertising. The Messenger's ad campaign promotes its ambitions to provide unbiased news.

☆ Bank of England set for 12th straight interest rate hike, but the outlook remains murky
▼ + stars: | 2023-05-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. "All this, and updated projections, should be consistent with our call for a final 25bp hike at the June meeting to a terminal rate of 4.75%." Updated forecasts Alongside the rate decision, the MPC will update its forecasts on Thursday. "Thus, while our base case remains for a final hike in June, we see risks that they skip this meeting and deliver the final hike in August," Ardagno's team said. Deutsche Bank Senior Economist Sanjay Raja echoed the projections for a 7-2 split in favor of a 25 basis point hike on Thursday, followed by another quarter-point in June.

☆ Emirates is opening a new store that will allow passengers to check in and drop off their bags without having to go to the airport
▼ + stars: | 2023-05-06 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

Emirates' new check-in store is 30 minutes from the airport by public transport, and 15 by car. The location should allow passengers to avoid long lines and crowds at the airport. Emirates is getting ready to open a store that would allow passengers to check in and drop off their bags without having to go to the airport. Much like an airline desk at any airport, it will also give passengers the option to book travel, according to Emirates. Emirates' robot check-in assistant is called Sara and is equipped to match faces with scanned passports and give passengers instructions.

[1/4] A logo is on display in the office of Sberbank, Russia's state-owned dominant lender and one of the country's leading technology players, in Moscow, Russia, March 28, 2023. But it also highlights challenges as Russia's tech development becomes increasingly reliant on one state-owned player. Since 2020 it has cast itself as a technology company as well, and is now seeking a bigger slice of Russia's shrinking technology pie. "There are restrictions on some of them, it is a very complex technology," Belevtsev said. "There is already a lot of cooperation on engineers and technology," Belevtsev said.

Lenders wasted little time in charging more for loans when interest rates rapidly rose from an almost 15-year slumber around zero last year, but most have dragged their feet on boosting deposit rates paid to millions of their customers. Money market funds are proving popular among savers seeking bigger returns on their cash as high levels of inflation persist. Data from Refinitiv Lipper showed more than 34 billion euros ($37.6 billion) of net flows into European money market funds in March, the best-selling asset type that month. Fidelity International also reported an 8% year-on-year uplift in flows into money market funds on its investment platform between Jan. 1 and April 26. Some lawmakers have criticised banks for the mismatch between what they charge borrowers and the interest rates offered to savers.

HONG KONG, May 4 (Reuters) - China's biggest financial data provider Wind Information Co told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said. Restricted access to Wind by offshore users comes as China sharpens its focus on data usage and security amid rising geopolitical tensions and concerns about privacy in the world's second-largest economy. A Wind salesperson told the source in September the company had made the changes as per instructions from the Cyberspace Administration of China (CAC), which asked it to stop providing offshore users with certain data. The restrictions on offshore users' access to certain Wind data have expanded since last September, said the first source. Reuters has reported, citing sources that Chinese data providers including company databases Qichacha, partially owned by Wind, and TianYanCha have stopped opening to offshore users for at least months.

☆ A San Francisco office building was worth $300 million before the pandemic. Now, it could sell for only $60 million — a perfect example of why downtowns are in trouble
▼ + stars: | 2023-04-28 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

A 22-story office tower in San Francisco that was worth $300 million in 2019 is for sale. The office tower, which sits at 350 California Street, was previously worth around $300 million during its last sale, office brokers told The Journal. The building's expected decline in value reflects the current crisis facing the real-estate industry across the US, and remote work's heavy impact on San Francisco's office buildings, in particular. Over a quarter of San Francisco's office space is empty as well, according to CBRE. Last summer, for example, Salesforce had half of its Salesforce Tower office space listed for lease as a sublet.

☆ 4 Parking Garages Ordered Evacuated After Deadly Collapse in Manhattan
▼ + stars: | 2023-04-28 | by ( Patrick Mcgeehan | ) www.nytimes.com time to read: +1 min

In the wake of a deadly collapse of a parking garage in Lower Manhattan last week, New York City officials found structural problems at four other garages so dangerous they ordered the buildings at least partially vacated. At those four garages — two in Manhattan and two in Brooklyn — the city’s Buildings Department found that the structures had “deteriorated to the point where they were now posing an immediate threat to public safety,” said Andrew Rudansky, a spokesman for the department. The discoveries, he said, came during inspections of garages conducted after the April 18 collapse of a garage on Ann Street in the Financial District in Manhattan that left its manager dead in the rubble and five others injured. Engineers found that a two-story garage at 2781 Stillwell Avenue in the Coney Island section of Brooklyn was in “severe disrepair,” Mr. Rudansky said. The department issued a “full vacate order” for the entire building and ordered its owners to close for business and immediately retain a professional engineer to compile a structural report, he said.

☆ Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers.
▼ + stars: | 2023-04-27 | by ( Peter Grant | Jim Carlton | ) www.wsj.com time to read: 1 min

Before the pandemic, San Francisco’s California Street was home to some of the world’s most valuable commercial real estate. The corridor runs through the heart of the city’s financial district and is lined with offices for banks and other companies that help fuel the global tech economy. One building, a 22-story glass and stone tower at 350 California Street, was worth around $300 million in 2019, according to office broker estimates.

☆ I found it stressful to work from home as a Gen Z account exec. Here's why I'll choose to work in the office every time — even if it costs more to do so.
▼ + stars: | 2023-04-27 | by ( Robin Madell | ) www.businessinsider.com time to read: +5 min

Devin Walsh spends up to 40 minutes commuting to work at least four days each week. I live in Midtown Manhattan and take the subway to our office, which is in the Financial District. Sometimes I go into the office all five days of the week if work is busier. Another added bonus of making the trip into the office is the face-time you get to have with senior leaders. If I work from home on a Friday, I typically fill it with meetings, one-on-ones, brainstorms, and general catch-ups.

☆ Deutsche Bank logs 11th straight quarterly profit, reveals job cuts
▼ + stars: | 2023-04-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. The Thursday report nevertheless showed deposits fell over the course of the quarter to 592 billion euros from 621.5 billion euros at the end of 2022. watch nowDeutsche's corporate bank net revenues came in at 2 billion for the quarter, up 35% year-on-year and the highest quarterly figure since the launch of its transformation program. However, the bank also flagged job cuts for non-client facing staff and reported a sharper-than-expected 19% year-on-year fall in investment bank revenues year-on-year. He suggested that, in scrutinizing Deutsche Bank, market participants saw a strong and profitable business model, stable balance sheet and deposit base, a "very moderate" and "well underwritten" commercial real estate book and "no near-term financing needs."

☆ Barclays posts 27% rise in net profit for the first quarter, beats expectations
▼ + stars: | 2023-04-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The headquarters of Barclays Plc beyond the West India Quay Docklands Light Railway station in the Canary Wharf financial district in London, UK, on Monday, March 20, 2023. LONDON — Barclays on Thursday reported net profit of £1.78 billion ($2.2 billion) for the first quarter, beating expectations and coming in 27% higher year-on-year. A consensus Reuters poll of analysts forecast net profit at £1.432 billion. The income of Barclays UK was up 19% due to improved net interest income. In its previous results, Barclays said it set aside £1.2 billion for such charges last year, as its customers struggled with cost pressures.

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