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☆ After my brother tragically died, I knew I wanted to pursue adventure. Now my family and I live on a catamaran.
▼ + stars: | 2024-04-21 | by ( Maria Noyen | ) www.businessinsider.com time to read: +11 min

We're pretty sure Kerry was executed there exactly two months later, in October 1978. So we had a memorial for Kerry, and then a few months later, John took his life. Rob Hamill rowing. Rob Hamill with Phil Stubbs, his teammate in the inaugural Atlantic rowing race in 1997. We got married about six months later, in 2001.

Persons: —, Rob Hamill, Pol Pot, Kerry, Kerry Hamill, Rob Hamill Kerry, Stuart Glass, Stuart, John Dewhirst, John, Hamill, who'd, Phil Stubbs, Phil, Comrade Duch, Pot, Rachel, Finn, Declan, Ivan, Rob Hamill's, Renee Whitaker, Hamill's, Finn didn't, We've Organizations: Service, Business, Navy, Atlantic, New Zealand, Pacific Locations: New Zealand, Khmer Rouge, Communist, Cambodia, Australia, Darwin, Khmer, Malaysia's, Kerry, Phnom Penh, Asia, Tenerife, Barbados, Ireland, New, Thailand, Angkor Wat

☆ Elon Musk's biggest booster says it might be 'time to sleep on the floor' at Tesla
▼ + stars: | 2024-04-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Elon Musk might need to start sleeping at Tesla again as tough times mount, according to top bull Adam Jonas of Morgan Stanley. The firm may slowly be exiting the EV industry, given rising Chinese competition and dimming outlooks, he said. "Looking ahead to Tesla's 1Q results ... investors are starting to ask: 'Is it time to sleep on the floor again?'" Though other analysts have touted full self-driving technology as a stock price headwind, Jonas sees commercialization at scale of these developments as far out. AdvertisementMarket challenges have already tanked Tesla's stock over 41% year-to-date.

Persons: Elon, Adam Jonas, Morgan Stanley, Jonas, —, Elon Musk, Tesla, Tesla's, Musk Organizations: Service, Elon, EV

☆ Oil prices jump on escalating tensions in the Middle East after strike on Iran
▼ + stars: | 2024-04-19 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Oil prices jumped on Friday while Asian markets tumbled, with global investors worrying about an escalation in conflict in the Middle East after explosions were reported near the Iranian city of Isfahan. Iran launched the attack in retaliation for a suspected Israeli strike on its embassy compound in Syria earlier this month. “Israel’s response could determine whether oil supplies are ultimately under threat.”Elsewhere, ongoing oil disruptions remain high, the analysts added. In Hong Kong, PetroChina, Asia’s largest oil and gas supplier, advanced 2.3%. Sinopec, the world’s largest oil refining company by capacity, rose 1.3%.

Persons: Brent, Benjamin Netanyahu, Israel, ”, “, Korea’s Kospi, Cosmo Energy Organizations: Hong Kong CNN, CNN, ANZ, United, Stock, Nikkei, China’s, Energy, Eneos Corp, Oil Corp Locations: Hong Kong, Iranian, Isfahan, Israel, Iran, Syria, United States, Mexico, Asia, China’s Shanghai, Tokyo, Seoul

☆ Offshore wind projects have been dogged by inflation and culture wars. Now they’re making a comeback
▼ + stars: | 2024-04-18 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —After a disastrous year marked by high costs, accusations of environmental harm and project cancellations in 2023, there’s a sense the US offshore wind industry is on a rebound. But offshore wind is increasingly Trump-proof, according to a top White House climate official, wind CEOs and an industry analyst. “This year will be a significant year for offshore wind development,” BOEM director Elizabeth Klein told CNN in a statement. The US supply chain for offshore wind is still being built; therefore, projects are turning to European manufacturers to get blades, gearboxes, and other components. Now, he said, Northeast governors “just want to make sure their states have energy.”New York has been aggressively pursuing offshore wind projects, rebidding previously canceled projects and accepting those projects at higher prices.

Persons: ”, Sam Huntington, “, aren’t, Donald Trump –, Trump, Ali Zaidi, that’s, ” Zaidi, we’ve, Zaidi, “ We’re, ” Huntington, Elizabeth Klein, Matthew J, Lee, There’s, Clint Plummer, ” Plummer, Pedro Azagra Blázquez, ” Blázquez, rebidding, Plummer, they’re Organizations: CNN, P, White House, White, Biden, US Bureau of Ocean Energy Management, Vineyard, New, Boston Globe, Power Locations: Wisconsin, Trump, Europe, Gulf of Maine, Oregon, New Bedford, Massachusetts, Huntington, New York, Danish, Asia, Friendly, New England, York

☆ A 32-year-old who started selling T-shirts in college with $500 upfront shares the 4 strategies he used to build a seven-figure online business from scratch
▼ + stars: | 2024-04-17 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Karthik Shanadi and Luke McGurrin did just that — and they started their brand, Greek House, out of their fraternity house with a slim $500 budget. Since launching Greek House in 2013, the cofounders have added three more apparel brands. Courtesy of Karthik ShanadiIt helped that Shanadi and McGurrin eventually expanded into what he considers a "high barrier niche": licensed merchandise. In 2016, about three years after starting Greek House, they received a notice from a licensing agency.

Persons: —, Karthik Shanadi, Luke McGurrin, Shanadi, McGurrin, Brian Chesky, Threadly, that's, We're Organizations: Service, Business, University of Florida Locations: Portugal, Philippines, India

☆ A company is turning former cruise ships into floating hotels — see inside its largest 'floatel'
▼ + stars: | 2024-04-17 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Bridgemans ServicesGroup operates a fleet of former cruise ships turned into hotels. Its "floatels" are designed to house workers during long-term projects. AdvertisementSome old and unwanted cruise ships meet their demise at ship-breaking yards, where they are disassembled and sold for scrap. Canada-based Bridgemans Services Group buys and charters former cruise ships to turn into "floatels," outfitted with standard cruise amenities like daily housekeeping, buffets, and relaxing lounges. But the ships aren't designed to transport tourists from one destination to another anymore.

Persons: Bridgemans ServicesGroup, —, Bridgeman Organizations: Service, Bridgemans Services Group Locations: Canada, Europe

☆ Singapore non oil domestic exports plunge 20.7%, misses expectations by a huge margin
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's non-oil domestic exports plunged 20.7% in March from a year ago, a sharp decline from the revised 0.2% fall in February. The 20.7% fall missed expectations by a huge margin, with economists polled by Reuters forecasting a 7% fall. This is the largest drop in non-oil domestic exports recorded by Singapore since January 2023. On a month-on-month basis, non-oil domestic exports slid 8.4%, also more than the 4.5% expected in the Reuters forecast. Non-oil domestic exports to Singapore's top markets declined in March, particularly for the U.S., the European Union and Japan.

Persons: Singapore's Organizations: Reuters, Enterprise Singapore, European Union, . Enterprise Singapore Locations: Marina, Sands, Singapore, Japan, China, Hong Kong, Taiwan

☆ Dollar firms after hot retail sales, yen languishes; China data awaited
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: +3 min

The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales. The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales. In the U.S., retail sales rose 0.7% last month, compared with the 0.3% rise that economists polled by Reuters had forecast. The Japanese yen languished under the dollar's continued strength and large interest rate differential between the two countries, breaching 154 to hit a fresh 34-year low against the dollar on Monday. The offshore Chinese yuan was mostly unchanged at 7.2620 per dollar ahead of the key economic data releases out of China.

Persons: Matt Simpson, Shunichi Suzuki, Index's Simpson, bitcoin Organizations: Reuters, Federal Reserve, U.S ., U.S, Traders, Japanese Finance, European Central Bank Locations: China, U.S, Middle

☆ China's economy grew 5.3% in the first quarter, beating expectations
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

China's economy in the first quarter grew faster than expected, official data released Tuesday by China's National Bureau of Statistics showed. On a quarter-on-quarter basis, China's GDP grew 1.6% in the first quarter, compared to a Reuters poll expectations of 1.4% and a revised fourth quarter expansion of 1.2%. Beijing has set a 2024 growth target of around 5%. Last week, Morgan Stanley raised its 2024 real GDP forecast for China to 4.8%, from its previous expectation of 4.2%. The world's second largest economy saw weak export and inflation data earlier this month, with both sets of data coming in below expectations.

Persons: Morgan Stanley Organizations: China's National Bureau, Statistics, Gross, Reuters Locations: Qingzhou, Weifang City, Shandong Province, China, Beijing

☆ Trump or Biden? The Stock Market Doesn’t Care.
▼ + stars: | 2024-04-12 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

The markets assume that former President Donald J. Trump has an even chance of winning the November election. After trailing for months, President Biden has moved slightly ahead of Mr. Trump in the betting on Predictit, the longest-running commercial prediction market in the United States. On Betfair, a robust British prediction market that is officially closed to U.S. residents, Mr. Biden has moved within one percentage point of Mr. Trump. Polymarket, an offshore market that accepts only cryptocurrency, shows Mr. Trump slightly ahead. “The prediction markets right now are telling us that the presidential election is basically a tossup,” said Eric Zitzewitz, a Dartmouth economist.

Persons: Donald J, Trump, Biden, ”, Eric Zitzewitz, “ Organizations: Dartmouth Locations: United States

☆ Shohei Ohtani's ex-interpreter was really bad at sports betting, according to court documents
▼ + stars: | 2024-04-12 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Mizuhara, Ohtani's ex-interpreter, used the money to pay off a gambling debt, federal prosecutors alleged. The former interpreter had a net loss of $40.7 million, according to a federal complaint. Related storiesThe typical returns in sports betting would depend on the type of bets Mizuhara placed, Williams told Business Insider. AdvertisementProsecutors don't say what kind of bets Mizuhara was placing. Other forms of sports betting, including betting with offshore books or with unlicensed bookmakers, remain illegal, according to the association.

Persons: Ippei Mizuhara, Shohei Ohtani, Ohtani's, —, Ippei, Shoehei Ohtani's, ballplayer, Mizuhara, That's, Tim Williams, Williams, BetUS, Mathew Bowyer, Bowyer, Diane Bass, Goldman Sachs Organizations: Dodgers, Service, Business, Los Angeles Times, ESPN, American Gaming Association Locations: California

☆ The beautiful African paradise islands that most tourists don’t know about
▼ + stars: | 2024-04-10 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

CNN —A couple of African paradise islands have been on the radar of avid world travelers for some time. Shellfish Bay on the island’s windward side shelters one of East Africa’s most spectacular beaches, a crescent of white sand framed by 100-meter dunes. Bazaruto Island Resort, the island’s top digs, can arrange scuba diving and snorkeling, sailing on traditional dhow boats, guided 4x4 wildlife safaris, sandboarding on the dunes and other outdoor activities. Lamu’s best beaches are on the island’s windward side, around a 30–40-minute walk via Shela village. — and an ancient stone nilometer for measuring the river’s water level — reflect the island’s importance during pharaonic times.

Persons: São Filipe, Denis, Ponta, Ariadne Van Zandbergen, Dar es Organizations: CNN, Ethiopian Airways, oneworld, Getty, UNESCO, Heritage, Cabo Verde Airlines, Overseas, Paris Orly, Animalia Museum, Egypt, Vogue, Reserve, Dar es Salam Locations: Mauritius, Seychelles, Canary, Africa, Madagascar, Addis Ababa, Bazaruto, Mozambique, East, sandboarding, Johannesburg, Vilanculos, Lamu, Kenya, Manda, Malindi, Nairobi, JamboJet, Fogo, Cape Verde, Cabo Verde, West Africa, Pico, Verde’s, Praia, Overseas Territory, Réunion, French Caribbean, L’Hermitage, Saint, Paris, Antananarivo, Elephantine, Egypt, Aswan, Bissagos, Guinea, Bissau, Bubaque, Pemba, Tanzania, Zanzibar, Tanga, Dar, FlightLink

☆ Dollar firm, yen under watch ahead of key US CPI release
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. On the yen, Wednesday's CPI data will be "a big test for Japanese authorities," Kong added. The U.S. dollar index , which measures the greenback against six rivals, held firm at 104.12. The kiwi climbed as high as $0.6077 versus the U.S. dollar, its strongest since March 21, before flattening at $0.60595.

Persons: Carol Kong, Kong, Kazuo Ueda, Sterling, bitcoin Organizations: U.S, Reserve Bank of New, Commonwealth Bank of Australia, Bank of Japan, Reserve Bank of New Zealand, U.S ., Treasury, Traders, European Central Bank, ECB Locations: Yichang, Hubei province, Reserve Bank of New Zealand, U.S, China

☆ Yen feels the heat as U.S. Treasury yields climb
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: +3 min

The greenback added 0.03% to 151.87 yen , holding near a 34-year high of 151.975 yen hit last month as Japanese officials continued to ramp up their jawboning efforts in a bid to defend the currency. The threat of intervention from Tokyo has kept the dollar from breaching the closely-watched 152 yen level, even as U.S. Treasury yields — which the dollar/yen pair tends to closely track — climb. Sterling tacked on 0.04% to $1.2658, while the euro steadied at $1.0860, holding near a two-week high. Despite a rise in U.S. Treasury yields the dollar has failed to draw meaningful support as traders reassess their expectations of the pace and scale of Federal Reserve rate cuts priced in by markets for later this year. That's come even as the two-year Treasury yield rose to an over four-month high of 4.8010% on Tuesday, while the benchmark 10-year yield likewise held near an over four-month peak and last stood at 4.4278%.

Persons: Shunichi Suzuki, Ryota Abe, Sterling, That's, It's, Ray Attrill Organizations: Treasury, Finance, SMBC, New Zealand, National Australia Bank Locations: U.S, Tokyo, United States

☆ Won (or lost) your March Madness bets? Don’t forget to report them on your taxes
▼ + stars: | 2024-04-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

New York CNN —If you won big on bets you made for the March Madness men’s and women’s NCAA tournaments, enjoy the money. So if you made bets last year, here’s what you need to do on your 2023 tax return, which is due for most people on April 15. Your winnings also may be subject to state tax, unless you live in the dozen or so states that exempt gambling winnings. It will then be up to you on your tax return to square whether you owe more or less on your winnings. So say you won $1,000 in 2023 at the tables in Vegas, but you lost $1,500 betting on last year’s March Madness tournament.

Persons: ”, Mark Luscombe, Luscombe, ” Luscombe, Daniel Rahill Organizations: New, New York CNN, NCAA, American Gaming Association, IRS, Wolters Kluwer, Accounting, Wintrust Wealth Management, Illinois CPA Society Locations: New York, Vegas

☆ Here are Monday's biggest analyst calls: Nvidia, Tesla, Amazon, Take-Two, BJ's, Dell, Disney, Broadcom, Apple & more
▼ + stars: | 2024-04-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

"We are reinstating coverage of AVGO with a buy rating and a new price target of $1,500." "We are upgrading Take-Two from Neutral to Buy and raising our target price from $170 to $200." KeyBanc reiterates Nvidia as overweight Key raised its price target on the stock to $1,200 per share from $1,100. Oppenheimer reiterates Alphabet as outperform Oppenheimer raised its price target on the stock to $185 per share from $172. "We resume coverage after a period of Rating Suspended with a Buy/High Risk (1H) rating and target price of $11."

Persons: Morgan Stanley, Jefferies, Piper Sandler, Piper, selloff, Goldman Sachs, Goldman, Bernstein, Tesla, underperform Bernstein, Wolfe, Eaton, underperform, ETN, Needham, it's, KeyBanc, Oppenheimer, Chipotle, Stefan Larsson, Zac Coughlin, Investor Relations Sheryl Freeman, Evercore, Cantor Fitzgerald, Cantor, Nvidia, Huntington, BTIG, Truist, Melius, Dell Organizations: Norfolk Southern, CP, NSC, JPMorgan, GE, Deutsche Bank reinstates Broadcom, Deutsche, Tesla, Citi, Netflix, AMD, ARM, Meta, Google, NASDAQ, Investor Relations, Disney, Susquehanna, Nvidia, Bank of America, of America, U.S, TAM, Dell, Apple Locations: FSLY, F1Q

☆ Shimao Group: Another big Chinese property developer faces a liquidation suit
▼ + stars: | 2024-04-08 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

CNN —Shanghai-based property giant Shimao Group said on Monday that it had received a liquidation petition from a Chinese state-owned bank in yet another instance of creditors taking legal action to reclaim money from troubled developers in the world’s second-largest economy. A “winding-up petition” was filed against the company by China Construction Bank (Asia) on April 5 in Hong Kong, according to a stock exchange filing by Shimao. The company’s shares were down over 14% in Hong Kong on Monday, having fallen nearly 40% this year. In January, Evergrande, the world’s most-indebted property developer and the poster child of China’s property crisis, was ordered to liquidate by a Hong Kong court. Country Garden, another major developer that defaulted on its debt last year, received a liquidation petition in February from a creditor after not repaying a loan.

Persons: ”, Shimao Organizations: CNN, Shimao, China Construction Bank, HK Locations: Shanghai, Asia, Hong Kong, Evergrande

☆ Top Wall Street analysts like these 3 dividend stocks for passive income
▼ + stars: | 2024-04-07 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Investors can turn to the expertise of Wall Street analysts who can identify stocks with long-term growth potential and the ability to generate the solid cash flows needed to support continued dividends. Here are three attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. (See Walmart Ownership Structure on TipRanks)SLBThis week's third dividend pick is oilfield services company SLB (SLB). SLB stock offers a dividend yield of 2%. (See SLB Stock Buybacks on TipRanks)

Persons: Wall, Kenneth Lee, Lee, TipRanks, Corey Tarlowe, Tarlowe, Goldman Sachs, Neil Mehta, Mehta Organizations: Walmart, Wall Street, OneMain Holdings, RBC Capital, OneMain, Jefferies Locations: Hallandale Beach , Florida, TipRanks

☆ European police seize Lamborghinis and Rolexes over alleged $650M Covid-19 fraud
▼ + stars: | 2024-04-04 | by ( Christian Edwards | Sharon Braithwaite | ) edition.cnn.com time to read: +2 min

CNN —Police have arrested 22 people and seized assets worth more than €600 million ($650 million) in connection with alleged fraud linked to the European Union’s post-pandemic recovery fund. The alleged fraud is likely to renew concerns about the misuse of the EU’s €800-billion recovery fund to help revive the bloc’s economy. The European Public Prosecutor’s Office (EPPO) said a criminal organization is suspected of running a fraud scheme between 2021 and 2023 to swindle Italy’s recovery packages. The prosecutor’s office claimed the group used cryptocurrencies, artificial intelligence and offshore cloud servers to carry out and conceal the fraud. The United States has also attempted to crack down on alleged fraud involving Covid-19 relief resources.

Persons: Lamborghinis, Cartier Organizations: CNN — Police, Prosecutor’s, Police, Public, ”, United, Small Business Administration Locations: Italy, Austria, Romania, Slovakia, United States

☆ Helicopter rescues Taiwan miners as earthquake injuries cross 1,000
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: +3 min

A person walks past an area of a damaged building that is cordoned off following the earthquake on April 04, 2024 in Hualien, Taiwan. A helicopter ferried to safety six miners trapped on a cliff in a dramatic rescue after the quake cut off the roads into Hualien's soaring mountains, in footage shown by the department. People in largely rural and sparsely populated Hualien county were readyingto go to work and school when the earthquake struck offshore on Wednesday. Dozens of residents queued outside one badly damaged 10-storey building, waiting to go in and retrieve belongings. She recalled the moment the quake struck, sending the building lurching and furniture sliding, while she rushed to save the four puppies she keeps as pets.

Persons: Yu, Tian Liang, I'm Organizations: Reuters Locations: Hualien, Taiwan, Taipei

☆ Opinion: Investing in oil and gas doesn’t make sense anymore
▼ + stars: | 2024-04-04 | by ( Opinion Tom Steyer | ) edition.cnn.com time to read: +7 min

Some might think that, questions of morality aside, fossil fuel investments are just too good to pass up. Even in the United States, where President Joe Biden’s Inflation Reduction Act is making historic investments in clean energy, oil exports are at an all-time high. On closer examination, the simplest argument against funding new oil, gas and coal projects is not that they’re immoral. What should be even more concerning to investors is that fossil fuel companies’ challenges go beyond supply and demand. Finally, there is perhaps the greatest risk fossil fuel investors face: the industry’s massive profits are largely dependent on special treatment by governments.

Persons: Tom Steyer, Pimco, Vladimir Putin’s, Joe Biden’s, I’ve, —, there’s, Morgan Stanley, persuasively, Herbert Stein Organizations: Solutions, CNN, JPMorgan Chase, State Street, Global Energy Monitor, Farallon Capital, ” Locations: BlackRock, Ukraine, United States, Texas, Farallon

☆ Dollar steadies, yen pinned near 152
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The dollar was on the front foot on Wednesday, pinning the yen near its lowest in decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yen was last at 151.585 per dollar, languishing near last month's slump to 34-year lows of 151.975 in the wake of the Bank of Japan's historic policy shift. The dollar , which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.76. "I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."

Persons: Morgan Stanley, Koichi Sugisaki, Sterling, Carol Kong, CBA's Organizations: Federal Reserve, Bank of, Ministry of Finance, U.S ., U.S, Commonwealth Bank of Australia, Traders, Fed, New Locations: Tokyo, Japan, U.S, CBA's Kong, New Zealand

☆ China's internet is filled with well-wishes for earthquake-stricken Taiwan — and veiled references that the PLA can help
▼ + stars: | 2024-04-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Taiwan's 7.2-magnitude earthquake has drawn seemingly friendly messages on China's social media. But they're also indicative of China's ambitions for Taiwan, and what Chinese people think of the island. AdvertisementA 7.2-magnitude earthquake that hit Taiwan on Wednesday morning prompted a wave of concerned messages on mainland China's social media, diverting from the usual hostile rhetoric toward the self-governed island. Like many of China's social media platforms, Weibo is heavily censored and moderated. However, kinetic conflict is still widely viewed on social media as only one of several options for unification.

Persons: they're, —, Fabian Hamacher, Xi Jinping, Zhang Yongjin, Xi Organizations: Service, Wednesday, Reuters, REUTERS, Business, Taiwan, People's Liberation Army, PLA, Getty, Observers Locations: Taiwan, Hualien, New Taipei City, Weibo, Beijing, China, Shiyuan Township, Jishishan County, Gansu Province, Xinhua, Sichuan, Taipei

☆ CNBC Daily Open: A projection is not a promise
▼ + stars: | 2024-04-03 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineU.S. Federal Reserve officials are dampening rate cut expectations again, and again. In comments echoing those of the Federal Open Market Committee's two weeks ago, San Francisco Fed President Mary Daly said Tuesday she expects cuts this year — but wants to see more convincing evidence that inflation has been subdued. "Three rate cuts is a projection, and a projection is not a promise," Daly said.

Persons: Spencer Platt, Mary Daly, Daly, Loretta Mester, Vishnu Varathan, —, Jeff Cox Organizations: New York Stock Exchange, Getty, CNBC, Federal Reserve, Federal, San Francisco Fed, Cleveland Federal, Malaysian, U.S Locations: New York City, U.S, Asia, Japan

☆ Singapore convicts first suspect in record money laundering case
▼ + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

A Porsche 911 Targa vehicle seized by police at a residence of Su Jiafeng, one of the suspects in the S$2.8 billion money-laundering case, in Singapore, on Wednesday, Oct. 25, 2023. Singapore on Tuesday sentenced the first person to plead guilty in the Southeast Asia island-state's biggest money laundering scandal to a 13-month imprisonment. Public prosecutors went ahead with two counts of money laundering after an agreement to consider the remaining nine charges for sentencing. The Singapore police said it has seized around 6 million Singapore dollars ($4.44 million) worth of assets from Su. The value of all assets seized to date now exceeds more than 3 billion Singapore dollars, according to court documents.

Persons: Su Jiafeng, Su Wenqiang, Mercedes, Dior, Su Organizations: Cambodian, Public, Singapore, CNBC, United Overseas Bank Locations: Singapore, Southeast Asia, Philippines

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