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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
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
How Does Alcohol Affect the Gut Microbiome?
  + stars: | 2024-01-30 | by ( Alice Callahan | ) www.nytimes.com   time to read: 1 min
But what does alcohol do to the trillions of microbes living in your gut? As with much of microbiome science, “there is a lot that we don’t know,” said Dr. Lorenzo Leggio, a physician-scientist who studies alcohol use and addiction at the National Institutes of Health. And as scientists begin to explore how drinking may influence your gut, they’re learning that overdoing it could have some unhappy consequences. How does heavy drinking affect your microbiome? Most of the available research on alcohol and the microbiome has focused on people who drink regularly and heavily, said Dr. Cynthia Hsu, a gastroenterologist at the University of California, San Diego.
Persons: , Lorenzo Leggio, Cynthia Hsu Organizations: National Institutes of Health, University of California Locations: San Diego
The first reports of the Hamas attack were already fusing with rumors, sweeping into social media feeds and private chat groups in an emotionally charged and largely unverified mass. Mr. Schatz, one of the best-known disinformation researchers and fact checkers in Israel, rushed back home to his computer, knowing he had little time to stop the false claims from metastasizing. In a way, he was already too late. Since the initial attack, disinformation watchdogs in the region have been overwhelmed by unfounded narratives, manipulated media and conspiracy theories. The content has spread in enormous volumes at great speed: video game clips and old news reports masquerading as current footage, attempts to disavow authentic photos as artificially generated, inaccurate translations and false accusations distributed in multiple languages.
Persons: . Schatz Locations: Israel, metastasizing
Voters in New Hampshire received robocall messages over the weekend in a voice that was most likely artificially generated to impersonate President Biden’s, urging them not to vote in Tuesday’s primary election, according to the state attorney general’s office. The fake recordings, which told listeners that “your vote makes a difference in November, not this Tuesday,” were manipulated to seem as if they had been sent by an officer of a Democratic committee, the office said. The attorney general’s office stressed that voting in the primary would not rule out voters from also casting ballots in the general election in November. “These messages appear to be an unlawful attempt to disrupt the New Hampshire presidential primary election and to suppress New Hampshire voters,” the office said in a statement. “New Hampshire voters should disregard the content of this message entirely.”
Persons: Biden’s, , Organizations: Democratic, New, New Hampshire voters, “ New Locations: New Hampshire, “ New Hampshire
New York (CNN) — US stocks rallied powerfully last week after a topsy-turvy start to the month. History indicates that if the market can cling to those gains, that could bode well for the rest of the year. But last week, all three major indexes turned positive for the year as tech stocks led the broader market higher. The January barometer, introduced in the Stock Trader’s Almanac, states that however stocks perform during January, their year-end performance will follow suit. That is good news for the 85 million homeowning households that enjoyed further gains in housing wealth, said Lawrence Yun, chief economist at NAR.
Persons: turvy, bode, Bell, Anna Rathbun, we’re, it’s, we’ve, Bryan Mena, ” Joanne Hsu, Anna Bahney, Lawrence Yun, Read Organizations: CNN Business, Bell, CNN, Dow Jones, Nasdaq, CBIZ Investment Advisory Services, The University of Michigan’s, National Association of Realtors Locations: New York
Washington, DC CNN —Americans’ attitudes on the economy are improving substantially as inflation slows. The University of Michigan’s latest consumer survey showed that sentiment improved greatly this month, soaring 13% from December, according to a preliminary reading released Friday. The university’s latest survey showed that US consumers’ expectations for inflation rates in the year ahead and over the next five years also improved. Americans still have some concernsWhile Friday’s survey showed that consumers are feeling some much needed relief, there are still lots of pain points for many Americans. In addition to high prices, Americans continue to grapple with an impenetrable housing market, persistent income inequality, and rising debt, prompting some to think that the so-called “American Dream” is broken.
Persons: ” Joanne Hsu Organizations: DC CNN, University of Michigan’s Locations: Washington
The University of Michigan's Consumer Survey of Consumers showed a reading of 78.8 for January, its highest level since July 2021 and up 21.4% from a year ago. On a two-month basis, sentiment showed its largest increase since 1991, said Joanne Hsu, the survey's director. "Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations," Hsu said. Along with the improved outlook on general conditions, survey respondents displayed more confidence that inflation is coming down. The outlook for the inflation rate a year from now declined to 2.9%, down from 3.1% in December for the lowest reading since December 2020.
Persons: Joanne Hsu, Hsu, Andrew Hunter, Stocks Organizations: Veteran, The Department of Labor, The University of Michigan's Consumer Survey, Consumers, Republicans, Federal Reserve, AAA, Capital Economics Locations: Long Beach , California
“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."
Persons: Joanne Hsu, ” Hsu, , Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, , Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: , Federal Reserve Bank of New York
China investors will be asking these 3 questions in 2024
  + stars: | 2024-01-09 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +6 min
CHONGQING, CHINA - JANUARY 02: People visit the 2nd International Light and Shadow Art Festival at the Fine Arts Park on January 2, 2024 in Chongqing, China. For all the geopolitical risks, the attraction of China as a fast-growing market has waned as the economy matures. Many were disappointed when China's economy did not rebound as quickly as expected after the end of Covid-19 controls in December 2022. Real estate is a clear example of a debt-fueled sector, one that has accounted for about a quarter of China's economy. Machinery, electronics, transport equipment and batteries combined contributed to 17.2% of China's economy in 2020, Citi analysts said.
Persons: it's, Jason Hsu, They're, Liqian Ren, Goldman Sachs, Ding Wenjie, Ding Organizations: Fine Arts, Art, Getty, Visual China, U.S, Citi, People's Bank of, Rayliant, Rayliant Global Advisors, National Bureau, China Asset Management Co, CNBC, Machinery Locations: CHONGQING, CHINA, Chongqing, China, BEIJING, Covid, People's Bank of China, Beijing, WisdomTree
There's rising hope that monetary policymakers have successfully cooled inflation without tipping the economy into a recession. Yet closely watched survey data from the University of Michigan shows consumer sentiment, while improving, is a far cry from pre-pandemic levels. Inflation vs. the job marketContinued strength in the labor market is something economists expected to sweeten everyday Americans' views of the economy. While the Michigan index compiles questions focused on financial conditions and purchasing power, the Conference Board's more closely gauges one's feelings about the job market. A hot job market can be a double-edged sword for sentiment, Michigan's Hsu noted.
Persons: Scott Olson, Kyle Connolly, Connolly, she's, Joanne Hsu, we're, Hsu, That's, Camelia, Kuhnen, Michigan's Hsu, UNC's Kuhnen, Karen Dynan, Marissa Lyda, Lyda, She's, there's, There's, Harvard's, Dynan, Jerome Powell, Kevin Lamarque Organizations: Toyota, Facebook, Federal Reserve, University of Michigan, Bureau of Labor Statistics, Labor Department, Conference, University of North, U.S . Treasury Department, Walmart, Federal, Committee Locations: Chicago , Illinois, Florida's panhandle, Michigan, University of North Carolina, Harvard, Phoenix, Portland, Kroger, Washington , U.S
AI startup CEOs gave Business Insider their top tips for recent grads. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The speed at which the industry moves can be daunting for anyone trying to land a job in AI . Here are the top tips that founders and CEOs of fast-growing AI startups have for recent grads who want to jump into the field.
Persons: , Ian Cairns, Cairns, Benji Barash, you've, it's, Henry Scott, Green, David Hsu, Navrina Singh, Sam Altman, Singh Organizations: Business, Service Locations: OpenAI
Climate Action Against Disinformation found that, in every month since COP27, the hashtag #climatescam generated more retweets and likes than #climatecrisis and #climateemergency on X, the platform formerly known as Twitter. Researchers attributed much of #climatescam’s traction to a small group of influential accounts, which they said tended to be far more vocal about climate denial on X than on platforms like Facebook and Instagram. Some of the sites pushing climate disinformation made money from ads — a revenue stream that researchers said was enabled by more than 150 advertising exchanges owned by some of the largest tech companies. The marketplaces, which largely use automated auctions to buy and sell online ads, placed ads on at least 15 websites known for hosting climate denial content, according to the report. Doing so flouted policies set up by many of the exchanges to block climate denial content and other disinformation from being monetized.
Persons: Bean, Organizations: Twitter, Facebook Locations: Russia, China, United States
REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Nov 30 (Reuters) - Australia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Nino weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has increased vegetation, but the intense heatwaves common during Australia's December-February summer can quickly turn this into tinder-dry bushland, fuelling fires. Australia declared an El Nino weather pattern - which usually brings below-average rain and above-average daytime temperatures - was under way in September. The Bureau of Meteorology said it was not unusual to have wet weather during El Nino as it increases but does not guarantee drier conditions. Reporting by Renju Jose and Cordelia Hsu in Sydney; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Loren Elliott, Murray Watt, Simon Bradshaw, Renju Jose, Cordelia Hsu, William Mallard Organizations: New South, New South Wales Rural Fire Service, REUTERS, Rights, El, Emergency, Sydney, National Council for Fire, Emergency Services, Climate Council, Meteorology, El Nino, Thomson Locations: New, New South Wales, Arcadia, Sydney, Australia, Turkey, El Nino, Australia's, El
Suspicious videos that began circulating in Taiwan this month seemed to show the country’s leader advertising cryptocurrency investments. Her mouth appeared blurry and her voice unfamiliar, leading Taiwan’s Criminal Investigation Bureau to deem the video to be almost certainly a deepfake — an artificially generated spoof — and potentially one created by Chinese agents. For years, China has pummeled the Taiwanese information ecosystem with inaccurate narratives and conspiracy theories, seeking to undermine its democracy and divide its people in an effort to assert control over its neighbor. Now, as fears over Beijing’s growing aggression mount, a new wave of disinformation is heading across the strait separating Taiwan from the mainland before the pivotal election in January. Perhaps as much as any other place, however, the tiny island is ready for the disinformation onslaught.
Persons: Tsai Ing Organizations: Criminal Locations: Taiwan, China
X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month. They list how much ad revenue X employees fear the company could lose through the end of the year if advertisers do not return. On Friday, X said in a statement that $11 million in revenue was at risk and that the exact figure fluctuated as some advertisers returned to the platform and others increased spending. The company said the numbers viewed by The Times were either outdated or represented an internal exercise to evaluate total risk. X is also running ad campaigns during the holiday period to try to make up for revenue shortfalls.
Persons: Elon Musk, Musk, X, Musk’s, Linda Yaccarino, ” Leesha Anderson, , Uber, Jack, Netflix’s, Chris Christie, it’s Elon Musk, Yaccarino, ” X, , , Ms, “ Lean, Tiffany Hsu Organizations: The New York Times, IBM, Apple, Disney, X, Microsoft, The Times, Twitter, Netflix, Google, NBC Universal, NBC, Press, Republican, Media, National Football League, New York Times, Athletic Locations: , Gaza, Israel
"These expectations have risen in spite of the fact that consumers have taken note of the continued slowdown in inflation," survey Director Joanne Hsu said in a statement. But progress this year has been inconsistent, and Fed officials remain wary of the potential for a reversal. That said, the University of Michigan survey results are at odds with other measures of inflation expectations that have shown they have in fact been moderating. A New York Fed survey of consumers last week, for instance, showed inflation expectations over both one-year and five-year horizons eased in October even as the Michigan survey showed them accelerating. Market-based measures of inflation expectations are also declining.
Persons: Joanne Hsu, Quincy Krosby, Dan Burns, Chizu Organizations: Federal Reserve, University of Michigan's, Fed, Global, LPL, University of Michigan, New York Fed, . Treasury, Securities, Thomson Locations: Michigan
Nothing Thankful About November’s Consumer Sentiment
  + stars: | 2023-11-22 | by ( Tim Smart | Nov. | At A.M. | ) www.usnews.com   time to read: +2 min
Consumer sentiment edged down in November with expectations for future business conditions taking a sharp tumble. The University of Michigan’s consumer sentiment index ended the month at 61.3, a 3.9% drop from the 63.8 in October. The current conditions index fell 3.3% to 68.3, while the future expectations index declined 4.2% to 56.8. Political Cartoons on the Economy View All 610 Images“Long-run inflation expectations rose from 3.0% last month to 3.2% this month, a reading last seen in 2011,” Hsu noted. Sentiment also has been divided by political affiliation with Republicans far more critical of the economy than Democrats.
Persons: “ Younger, , Joanne Hsu, , ” Hsu Organizations: University of, Republicans, Federal Reserve, Wednesday, Dow Jones
Martin Gruenberg, the FDIC’s chairman, won’t serve on a special committee that will oversee an independent review the agency’s workplace culture. Photo: Tierney L. Cross/Bloomberg NewsThe Federal Deposit Insurance Corp. board is forming a special committee to oversee an independent review of the agency’s workplace culture, the agency said Tuesday, restricting the ability of the rest of the board—including the chairman—to influence the investigation. The special committee, created by a unanimous vote of the board, will be led by Republican Jonathan McKernan, who was confirmed to the board by the Senate late last year, and Democrat Michael Hsu, who has served as acting comptroller of the currency and an FDIC board member since 2021.
Persons: Martin Gruenberg, won’t, Tierney L, , Republican Jonathan McKernan, Michael Hsu Organizations: Bloomberg, Federal Deposit Insurance Corp, Republican, Senate
FDIC Chair Martin Gruenberg was also cited in the reports as having earned a reputation for bullying and leniency in cases of misconduct. The special committee will be co-chaired by two FDIC board members, acting Comptroller of the Currency Michael Hsu, a Democrat, and board member Jonathan McKernan, a Republican. Last week, McKernan and FDIC Vice Chair Travis Hill, also a Republican, had demanded that Gruenberg recuse himself from oversight of any review. The board resolution approving the review includes provisions "that restrict the ability of FDIC management and FDIC Board members not on the Special Committee to engage with or influence the review," Hill said, noting that his support of the decision had depended on that condition. In a statement, Sherrod Brown, a Democrat and chair of the Senate Banking Committee who last week called on FDIC inspector general's office to investigate, said the FDIC board had taken "appropriate steps" to ensure its own review would proceed independently.
Persons: Sheila Bair, Jason Reed, Martin Gruenberg, Gruenberg, Michael Hsu, Jonathan McKernan, McKernan, Travis Hill, Hill, Sherrod Brown, Douglas Gillison, Lisa Shumaker, Marguerita Choy, Leslie Adler Organizations: Federal Deposit Insurance Corp, REUTERS, Companies United, U.S . Federal Deposit Insurance Corp, Street Journal, Wall Street, Republican, FDIC, Democrat, recusal, Thomson Locations: Washington, Companies United States, America
More than half of tech workers say that AI is overrated, a 2023 Retool report found. More than half of the tech workers surveyed — 51.6% of respondents — say that AI is overrated, the researchers found. Respondents who find AI to be overrated, Hsu said, don't feel like they can totally rely on AI at its current state. AdvertisementEven though some tech workers are skeptical of AI, only 14.4% of those who deemed AI to be fully overrated said their employers were over-investing in the technology. Retool's findings on AI come as workers across tech use AI tools like ChatGPT to write code, analyze data, and troubleshoot bugs.
Persons: , David Hsu, Retool, haven't, Hsu, Charlie Munger, It's Organizations: Service, Workers Locations: American
More major advertisers have paused their spending on X, the social media service formerly known as Twitter, as the backlash continued over Elon Musk’s endorsement of an antisemitic conspiracy theory on X. The spending freeze comes as X has fought to win back advertisers who were wary of spending on the platform after Mr. Musk took it over a year ago and said he would loosen content moderation rules. The organization followed accounts that posted the content, then refreshed the X timeline until ads appeared, X said in a blog post. Only one of the nine posts highlighted by Media Matters violated its content moderation rules, X added. “Musk admitted the ads at issue ran alongside the pro-Nazi content we identified.
Persons: X, Musk, ” Mr, Robert Bowers, Andrew Bates, Hitler, ” X, Joe Benarroch, , Angelo Carusone, “ Musk, ” Ryan Mac Organizations: Elon, Warner Bros, Sony, IBM, Apple, Lionsgate, Paramount Global, CBS, Twitter, White, Media Matters, Nazi Party, X Corp, Media, , ” Media Locations: Israel, Pittsburgh
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