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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPlenty of markets for BYD to pursue growth even when the U.S. is closed to it: Asset management firmJason Hsu of Rayliant Global Advisors says that there will be "fierce" competition and consolidation amongst China's EV players and thinks BYD, Geely and Xiaomi will emerge as the winners.
Persons: Jason Hsu Organizations: BYD, Rayliant Global Advisors Locations: U.S
Even before the deadly toll of the attack on a Moscow concert hall on Friday became clear, officials in Russia linked it to the war against Ukraine and a broader conflict with the West. Ninety minutes after first reports of the attack, Dmitri A. Medvedev, the former president and the deputy chairman of the Kremlin’s security council, darkly hinted at “terrorists of the Kyiv regime.”The claim of responsibility by the Islamic State did little to temper the Kremlin’s narrative, which has unspooled in a torrent of unsupported accusations and baseless, even fanciful conspiracy theories spread across social media. When President Vladimir V. Putin said “radical Islamists” had carried out the attack, he called it “just an element in a series of attempts of those who have been at war with our country since 2014,” an explicit reference to Ukraine and the upheaval that year that led to the illegal annexation of Crimea. “They need a ‘Big Lie,’” said Nina Khrushcheva, a professor of international affairs at the New School in New York, who has written extensively on Russian politics and propaganda.
Persons: Dmitri A, Medvedev, Vladimir V, Putin, , , ’ ”, Nina Khrushcheva Organizations: Ukraine, West, New School Locations: Moscow, Russia, Kyiv, Ukraine, Crimea, , New York
All that changed three years ago, when a global chip shortage and rising geopolitical tension turbocharged growth at TSMC. TSMC set up the Newcomer Training Center inside a sprawling science park in the city of Taichung in central Taiwan in 2021. “After many years, what we want to do is to gradually reduce assignees [and] increase the local hires.”The Newcomer Training Center opened in 2021. The soaring demand, particularly for chips that power AI, has created a shortage of talent for the semiconductor industry. Countries compete for this talent.”TSMC’s Ho said a shortage of talent is one of the main challenges the company faces.
Persons: Taiwan CNN —, , TSMC, Joe Biden, , Marcus Chen, ” Lora Ho, John Mees, Stewart Randall, ” TSMC’s Ho, Ho, Kristy Hsu, , it’s, ” Ho, “ It’s, — CNN’s Juliana Liu Organizations: Taiwan CNN, Moore’s, Apple, Nvidia, AMD, CNN, , Training, Taiwan Semiconductor Manufacturing, IC, Taiwan ASEAN Studies Center, Economic Research Locations: Taichung, Taiwan, TSMC, Arizona, fabs, United States, Japan, Germany, China, Washington, Kumamoto, Phoenix , Arizona, Dresden, Europe
If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.
Persons: Joanne Hsu, there's, they're, , Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsus co-CEO says it'd be confident in handling tariffs under a possible second Trump presidencyS.Y. Hsu, co-CEO of the Taiwanese computer hardware manufacturer, says the company will have its production line moved to "some other place" in such a scenario.
Persons: it'd, S.Y, Hsu Organizations: Asus, Trump
CNBC Daily Open: U.S. consumer spending data looms
  + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This 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. Asia stocks mixedAsia markets were mixed Thursday as investors assessed Japan's spring wage negotiations. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.
Persons: Topix, Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nikkei, Bank of Japan, Nasdaq, Dow, Ford Motor, General Motors, Mercedes, Benz, House, U.S . House, Rayliant Global Advisors Locations: Asia, Israel, China
CNBC Daily Open: U.S. retail sales in sharp focus
  + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +1 min
This 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. Stocks end mixedWall Street ended mixed Wednesday, dragged down by tech stocks as investors await key updates on retail sales and producer prices. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.
Persons: Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nasdaq, Dow, House, U.S . House, Ford Motor, General Motors, Mercedes, Benz, Rayliant Global Advisors Locations: Israel, China
There may be a lot of caution with investing in Chinese stocks — but asset manager Jason Hsu sees opportunities to play the market. "Chinese stocks are trading at the cheapest they've ever been. The Chinese economy and stock market have been dogged by declining foreign investments and a prolonged property market slump. Hsu suggests that investors allocate around 7% to 8% of their portfolio to Chinese stocks. 'A great growth story' When it comes to the Chinese market, Hsu views state-owned food and beverage company Kweichow Moutai as good short-term play.
Persons: Jason Hsu, Hsu, Moutai, Warren Buffett, Tesla, BYD Organizations: Rayliant Global Advisors, CNBC Pro, Shanghai, Shanghai Stock Exchange, FTSE, China Consumer, Toyota, U.S, Ferrari, Hong Kong Locations: China, Japan, FTSE China, U.S, Europe, Hong Kong and New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA 'new narrative' about the Chinese economy is emerging: Asset management firmJason Hsu of Rayliant Global Advisors gives his take on China's latest trade data, especially on China's rising exports of critical minerals.
Persons: Jason Hsu Organizations: Rayliant Global Advisors
New Delhi/Hong Kong CNN —Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In a separate apology, Taiwan’s labor ministry said Hsu implied “absolutely no discriminatory connotation when she mentioned ‘similar skin color’ in the interview. CNN has reached out to India’s Ministry of External Affairs for comments. In February, Taiwan said it will hire migrant workers from India to ease its labor shortage, but did not share any other details. Taipei currently allows migrant workers from Thailand, Vietnam, Indonesia and Philippines to work in the island, according to the labor ministry.
Persons: Hsu Ming, chun, , ” Hsu, Hsu, Hsu’s, Taiwan’s Foxconn, ” Young Liu, ” Liu, Padma Bhushan Organizations: Hong Kong CNN, Taiwan, Yahoo, Labor, CNN, India’s Ministry, Affairs, Padma, Bloomberg Locations: New Delhi, Hong Kong, Taiwan, India’s, India, China, Bangladesh, Myanmar, Covid, “ India, Japan, South Korea, Taipei, Thailand, Vietnam, Indonesia, Philippines
Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.
Persons: , Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal
Dry Weather Hampers Mass Christmas Island Crab Migration
  + stars: | 2024-02-19 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +1 min
By Cordelia HsuSYDNEY (Reuters) - Unusually dry weather has delayed the annual migration of millions of Christmas Island red crabs from the island's interior to the sea where they mate. There are over 100 million red crabs on Christmas Island in the Indian Ocean, much of which is designated as a national park. Authorities say "exceptionally dry" conditions have put a dampener on this season's migration, where the mass of red crabs usually blocks off traffic in a normal year. This year is the first time the crabs have migrated as late as February since Parks Australia started tracking migration in the 1980s, he added. The migration sees the crabs journey from the interior of the island to the ocean, where they mate.
Persons: Cordelia Hsu SYDNEY, Brendan Tiernan, Cordelia Hsu, Alasdair Pal, Michael Perry Organizations: Authorities, Parks Australia Locations: Sydney
is used in a year stacked with major elections around the world. start-up, joined its peers by prohibiting its technology from being applied to political campaigning or lobbying. In a blog post, the company, which makes a chatbot called Claude, said it would warn or suspend any users who violated its rules. It added that it was using tools trained to automatically detect and block misinformation and influence operations. “We expect that 2024 will see surprising uses of A.I.
Persons: chatbot, Bard, Anthropic, Claude, , Organizations: Google
WASHINGTON (AP) — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. The University of Michigan's consumer sentiment index, released Friday, ticked up to 79.6 in February, from 79 in January. Still, consumer sentiment remains 6% below its long-run average after the worst spike in inflation in four decades pushed up the cost of groceries, rent, gas, and other necessities, frustrating many consumers. “Consumers continued to express confidence that the slowdown in inflation and strength in labor markets would continue.”Improving consumer confidence can often lead to greater spending, which can support economic growth. Since the pandemic, however, consumer spending has been mostly healthy even when measures of sentiment were quite low.
Persons: Joe Biden's, Joanne Hsu, “ Consumers Organizations: WASHINGTON, University of, Locations: underscoring
Consumers remained largely sanguine about the economy and inflation in February, according to the latest sentiment survey from the University of Michigan released Friday. The February index rose 0.6 points to 79.6 after posting strong gains in the prior two months. The index of consumer expectations, a forecast of how Americans see the economy in the coming months, is now up 21.6% from a year ago. Expectations for inflation did tick up slightly, with the 12-month level now at 3%, up from 2.9% in January. “The upside surprise in the January PPI report echoes the month’s CPI report,” said Bill Adams, chief economist for Comerica Bank.
Persons: , Joanne Hsu, “ Consumers, Hsu, Jerome Powell’s, Ken Tjonasam, Powell, Bill Adams Organizations: University of Michigan, , PPI, Global, CPI, Comerica Bank, “ Labor
A Chinese influence campaign that has tried for years to boost Beijing’s interests is now using artificial intelligence and a network of social media accounts to amplify American discontent and division ahead of the U.S. presidential election, according to a new report. The campaign, known as Spamouflage, hopes to breed disenchantment among voters by maligning the United States as rife with urban decay, homelessness, fentanyl abuse, gun violence and crumbling infrastructure, according to the report, which was published on Thursday by the Institute for Strategic Dialogue, a nonprofit research organization in London. An added aim, the report said, is to convince international audiences that the United States is in a state of chaos. Artificially generated images, some of them also edited with tools like Photoshop, have pushed the idea that the November vote will damage and potentially destroy the country.
Organizations: U.S, Institute for Strategic Locations: United States, London
See what celebrities wore to New York Fashion Week
  + stars: | 2024-02-13 | by ( Jacqui Palumbo | ) edition.cnn.com   time to read: +4 min
CNN —New York Fashion Week is back, with celebrities seen sitting front row at shows across Manhattan and Brooklyn and arriving at private parties for luxury houses including Gucci and Yves Saint Laurent. Jamie McCarthy/Getty Images for Christian SirianoJodie Turner-Smith arrives at a private Gucci party. Gilbert Carrasquillo/GC Images/Getty ImagesJessica Chastain at a private Gucci party on Saturday. Dimitrios Kambouris/WireImage/Getty ImagesElliot Page arrives at a private Gucci party. Theo Wargo/Getty Images for NYFW: The ShowsIris Apatow at a private Gucci party on Saturday.
Persons: Gucci, Yves Saint Laurent, Tommy Hilfiger’s, Sofia Richie Grainge, Becky G, Willy Chavarria’s, Sam Smith, Julia Fox, Jessica Chastain, Jodie, Turner Smith, Demi Moore, Elliot Page, Nicola Peltz Beckham, Joe Biden’s, Ashley Biden, Kamala Harris ’, Ella Emhoff, Sophia Bush, J . Smith, Cameron, Philipps, Melanie Lynskey, Alicia Silverstone, Ashlee Simpson, Christian Siriano's, Jamie McCarthy, Christian, Jodie Turner, Smith, Gilbert Carrasquillo, Dascha Polanco, Willy Chavarria's, Roy Rochlin, Debbie Harry, Jason Mendez, Willy Chavarria, Amanda Lepore, Tommy Dorfman, Natasha Lyonne, Annabelle Dexter, Jones, Chanel, Dimitrios Kambouris, Camila Mendes, Ariana Greenblatt, Gilbert Flores, Storm Reid, Jackie Aina, Udo Salters, Cowan, Sarah Desjardins, Christian Cowan, Joel Kim Booster, Anna Wintour, Diane Kruger, Carolina Herrera, Charly Triballeau, Olivia Jade, Noah Beck, Louisa Jacobson, Misty Copeland, Jaimie Alexander, Jason Wu, Molly Ringwald, Helmut Lang, Jed Cullen, Dave Benett, Jeremy O, Harris, Stephanie Hsu, Phillip Lim, Arturo Holmes, Bella Thorne, Theo Wargo, Iris Apatow, Katie Holmes, Ulla Johnson, Manny Carabel, Jemima Kirke, Trullie Organizations: CNN, New York, Central, Brooklyn, Christian, Gucci, Bach, Getty, Harmonie Club, Carolina, Beauty Brooklyn Locations: Manhattan, Brooklyn, AFP, Zsela
Google Joins Effort to Help Spot Content Made With A.I.
  + stars: | 2024-02-08 | by ( Tiffany Hsu | ) www.nytimes.com   time to read: +1 min
Google, whose work in artificial intelligence helped make A.I.-generated content far easier to create and spread, now wants to ensure that such content is traceable as well. The tech giant said on Thursday that it was joining an effort to develop credentials for digital content, a sort of “nutrition label” that identifies when and how a photograph, a video, an audio clip or another file was produced or altered — including with A.I. The announcement follows a similar promise announced on Tuesday by Meta, which like Google has enabled the easy creation and distribution of artificially generated content. Its Bard chatbot is connected to some of the company’s most popular consumer services, such as Gmail and Docs. On YouTube, which Google owns and which will be included in the digital credential effort, users can quickly find videos featuring realistic digital avatars pontificating on current events in voices powered by text-to-speech services.
Persons: Meta Organizations: Google, Adobe, BBC, Microsoft, Sony, Meta, YouTube
CNBC Daily Open: No letup in tech layoffs
  + stars: | 2024-02-07 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +1 min
This 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. Stocks advanceU.S. stocks gained ground on Tuesday as Wall Street tried to rebound from the previous session. Like gold, silver prices tend to have an inverse relationship with interest rates. With expectations that the Federal Reserve could start cutting rates this year, silver may get a boost.
Persons: Dow, Bob Iger, Jason Hsu, Hsu Organizations: CNBC, Nasdaq, Federal Reserve, ESPN, Fox, Warner Bros, Disney, Rayliant Global Advisors Locations: Hong Kong
But Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors, believes that one stock will come out ahead. Hsu believes that as the EV market consolidates, BYD is "for sure going to emerge a winner." One potential curveball for the Chinese EV market is a U.S. decision to raise tariffs, which is reportedly under discussion . But Hsu believes that the markets have already priced in the possibility that those tariff hikes will be imposed. For global investors who want to buy BYD, its shares are listed on the Hong Kong exchange.
Persons: Tesla, Jason Hsu, CNBC's, Hsu, BYD, CNBC's Tanvir Gill, Evelyn Cheng Organizations: Rayliant Global Advisors, Toyota, Hong, BYD, China Clean Technology, China Growth Locations: That's Hong Kong, BYD, China, U.S, Europe, Hong Kong
CNBC Daily Open: Tech layoffs continue to hit
  + stars: | 2024-02-07 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This 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. Stocks mostly upAsia markets largely rose on Wednesday tracking Wall Street's advance as investors digested corporate earnings. Like gold, silver prices tend to have an inverse relationship with interest rates. With expectations that the Federal Reserve could start cutting rates this year, silver may get a boost.
Persons: Dow, Arthur Laffer, Laffer, Bob Iger, Jason Hsu, Hsu Organizations: CNBC, DBS Group, Nasdaq, Federal Reserve, ESPN, Fox, Warner Bros, Disney, Rayliant Global Advisors Locations: Asia, Asia's, Hong Kong
SAN FRANCISCO (AP) — The Democratic mayor of San Francisco is pushing a pair of controversial public safety proposals on the March 5 ballot, including one that would require single adults on welfare be screened and treated for illegal drug addiction or else lose cash assistance. San Francisco is in a struggle to redefine itself after the pandemic left it in economic tatters and highlighted its longstanding problems with homelessness, drugs and property crime. Violent crimes are low in San Francisco, but the city has long struggled with quality-of-life crimes. But she said San Francisco needs to do more. Yet Trent Rhorer, executive director of the San Francisco Human Services Agency, which provides cash assistance and employment services to low-income residents without dependent children, said the current situation is in conflict with the agency's mission: to improve lives.
Persons: she'll, San, Breed, Black, Chris Ballard, Coleman, , Trent Rhorer, , Gavin Newsom, Rhorer, ” Rhorer, Michael Hsu, Hsu Organizations: FRANCISCO, , Democratic, Mayor London Breed, San Francisco Human Services Agency, Democratic Gov, Department of Public Health, . Police Locations: San Francisco, Francisco, Democratic California
Happy Days Are Here Again, Say American Consumers
  + stars: | 2024-02-02 | by ( Tim Smart | Feb. | At A.M. | ) www.usnews.com   time to read: +3 min
Consumers are happy, the stock market is near record highs, inflation is moderating and the labor market is defying all forecasts. Apparently, very little as the latest reading on consumer sentiment from the University of Michigan confirmed on Friday. The final consumer sentiment survey for January posted a 13% increase to 79, almost a 10-point surge from December’s 69.7 reading, echoing earlier estimates. “This morning’s strong jobs report diminished the chances of the Fed cutting in March,” said Jeffrey Roach, chief economist at LPL Financial. This means businesses are in a good position despite the macro headwinds and uncertainty about growth expectations.”
Persons: , , Joanne Hsu, ” Hsu, , David Royal, Jeffrey Roach Organizations: University of Michigan, Federal Reserve, Labor Department, Federal Reserve Bank, Atlanta’s, LPL
New York CNN —Earnings season is in full swing, and that means investors get a chance to hear from multinational companies about the state of the global economy. Some of the United States’ biggest companies are in the hot seat to answer questions about the economy, and where it could be headed. Like the rest of the US, companies are watching whether the economy could still tip into a recession as interest rates hover around a 23-year high. Achieving a soft landing, or a situation in which inflation comes down without an economic downturn, looks likely, some companies said. According to the UK government’s own estimates, the checks — including physical inspections from April — will cost British businesses about £330 million ($419 million) annually and increase food inflation by about 0.2 percentage points over three years.
Persons: it’s, , Michael Hsu, Kimberly, Clark, Blackstone, Stephen Schwarzman, Christophe Le Caillec, Jim Vondruska, We’re, Robert Isom, Lorenzo Simonelli, Baker Hughes, Alan Schnitzer, Elisabeth Buchwald, , Christopher Waller, Waller, Hanna Ziady, Read Organizations: CNN Business, Bell, New York CNN, United States ’, American, O'Hare Airport, Travelers Companies, , European Union Locations: New York, Chicago , Illinois, United Kingdom, Britain
CNN —College basketball superstar Caitlin Clark continues to make history with each passing game. The reigning consensus National Player of the Year moved up to second place on the all-time NCAA Division I women’s basketball scoring leaderboard on Wednesday night, as her Iowa Hawkeyes eased past the Northwestern Wildcats, 110-74. In yet another dominant performance, Clark racked up 35 points to bring her career total to 3,424, only 103 short of the all-time record held by Kelsey Plum. It was also her 50th career game with at least 30 points, the most in men’s or women’s college basketball over the last 25 seasons. Sophomore forward Hannah Stuelke added 17 points and nine rebounds for Iowa, while guard Kate Martin had 16.
Persons: Caitlin Clark, Clark, Brittney Griner, Jackie Stiles, Kelsey Mitchell, Kelsey Plum, I’ve, ” Clark, Lisa, Ben Hsu, Hannah Stuelke, Kate Martin, Melannie Daley, , Lisa Bluder, “ Caitlin Organizations: CNN — College, Iowa Hawkeyes, Northwestern Wildcats, Missouri, Ohio State, ESPN, Iowa, Hawkeyes, Indiana Fever, Northwestern, Big, LSU Tigers Locations: men’s, Iowa
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