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☆ Are iPhone sales growing or shrinking in China? That depends on which data points you look at, says an analyst.
▼ + stars: | 2024-05-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Tim Cook said iPhone sales grew in China, despite external research showing a decline. China accounted for 18% of Apple's sales, making it a critical market for the tech giant. However, over the last quarter, independent analysts have reported a slump in overall iPhone sales in China. iPhone sales in China are a closely watched metric because greater China accounted for 18% of Apple's sales across products in the first quarter, according to the earnings results. Related storiesCook's limited remarks on China's iPhone sales raised questions on Friday's call from analysts who compared Apple's data with independent reports.

Persons: Tim Cook, —, Cook, Max, Wells, Aaron Rakers, Will Wong, Wong Organizations: Apple, Service, Counterpoint Research, International Data Corporation, IDC, Bloomberg Locations: China, Hong Kong, Taiwan

☆ Autos analysts pick who can survive China’s cut-throat EV market
▼ + stars: | 2024-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Investment analysts are coalescing around a few potential winners in China's car market after a 10-day auto show in Beijing put the ferocious competition on full display. "This year, we notice[d] a meaningful amount of foreign visitors who are Chinese brands' overseas dealers or importers," JPMorgan analysts said. Open to the public After two days of restricting access only to business and media, the Beijing auto show opened to the general public. Jefferies' analysts estimate the policy could boost China's passenger vehicle sales by 1 million units this year, evenly split between electric and gas-powered models. The analysts highlighted their Chinese car stock picks as Leapmotor, Geely and BYD, all rated buy and listed in Hong Kong.

Persons: Nick Lai, BYD, Tesla, hasn't, Elon Musk, Nezha, Asensing, Zhang Haizhou, Morgan, Lei Jun, Xiaomi, Jefferies, Bank of America Merrill Lynch, Leapmotor, — CNBC's Michael Bloom Organizations: Asia Pacific, JPMorgan, Porsche, Apple Vision, Brands, Mazda, Auto, Morgan Stanley Asia Pacific, EV, Bank of America, Trade, Ministry of Commerce, Volkswagen, VW, Toyota Locations: Beijing, China, Asia, Europe, Nio, Zhejiang, Hong Kong

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ Hala Rharrit, US diplomat who quit over Biden administration’s Gaza policy, speaks out
▼ + stars: | 2024-05-03 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +6 min

CNN —Hala Rharrit never expected that she would choose to leave her career as a US diplomat. About a year and a half ago, after mostly behind-the-scenes roles, Rharrit became an Arab language spokesperson for the State Department. But the US government’s policy on the war between Israel and Hamas in Gaza “unfortunately really, really changed that,” she said. Rharrit told CNN that she and her colleagues were “horrified” by the Hamas terrorist attacks on October 7, which triggered the war in Gaza. We just have not been able to say it.’”The State Department would not comment specifically on Rharrit’s case, citing personnel matters.

Persons: Hala Rharrit, Yemen —, Rharrit, “, ”, Josh Paul, Annelle, ” Rharrit, “ I’m, ‘ you’re, ’ ”, you’re, they’re, ‘, we’ve, Vedant Patel, ” “ You’ve Organizations: CNN, State Department, Biden, Israel, US, The State Department Locations: Yemen, Hong Kong, Qatar, South Africa, Arab, Israel, Gaza, United States, “

☆ China's stock market has staged a big rebound that's poised to push on, strategist says
▼ + stars: | 2024-05-03 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

The Chinese stock market has rebounded and analysts said the rally looks set to continue. After six months of outflows, foreign investors are gradually putting money to work in China again. AdvertisementChina's stock market may have shaken its label as "uninvestable," with an economic rebound and a rally that could have plenty more room to run. LPL Financial strategist Adam Turnquist wrote this week that long-held bearish calls on China's property and stock market have shaken investor confidence. China's recent reputation as "uninvestable" has been fueled by mounting real estate troubles, a plummeting stock market and dismal consumer demand that's sparked a deflationary spell for the country.

Persons: —, Adam Turnquist, Turnquist, Ray Dalio Organizations: Service, LPL, Billionaire Locations: China, Hong Kong, Beijing

☆ 'Trader justice': Ex-SocGen trader fired for risky bets claims he was made a 'scapegoat'
▼ + stars: | 2024-05-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a "scapegoat" and failing to take its share of responsibility for missing the trades. A SocGen spokesperson declined to comment on the post, but provided a statement on the pair's dismissal. Kataria said the trades were auto-booked and a "daily email was sent to the entire group mentioning the trades have been reconciled." "It's very easy for other people to say that we were not aware of the trades done by me," he wrote. "Trading Industry is so big but there are no rules or regulations which fight for trader justice," he said.

Persons: Kavish Kataria, Kataria, SocGen, Kevin Ng, Jerome Kerviel Organizations: Societe Generale, Hong, Financial Times, LinkedIn Locations: Hong Kong, Paris

☆ Japanese yen: How the currency’s record slump is squeezing the Japanese
▼ + stars: | 2024-05-03 | by ( Juliana Liu | ) edition.cnn.com time to read: +7 min

Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.

Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, “, we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, ”, Sato Hitomi, Semans, I’ve, —, Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii

☆ Asia markets higher as Wall Street gains ahead of key U.S. jobs report
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.

Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan

☆ How to buy your first luxury watch
▼ + stars: | 2024-05-03 | by ( Christy Choi | ) edition.cnn.com time to read: +9 min

Learn the lingoJust like buying a car, there are some technical terms prospective watch buyers can benefit from knowing. Parts of the watchCrown: Small knob found on the side of the watch used to change the date and time. Automatic movement: A mechanical watch that does not need a battery to move, it relies on movement from the wearer to wind. Buy a watch for the right reasons and consider what you need from itDon’t get sucked into hype around a watch. See if the designer made any othersWhile on the lookout for a watch to wear to his wedding, Pang saw a six-figure Audemars Piguet watch.

Persons: you’ve, it’s, Patek Philippe, Cartier, Vacheron Constantin, Sotheby Asia’s, Joey Luk, Charles Frodsham, “, ”, Johnathan Chan, you’re, Helbert Tsang, Tim Stracke, don’t, Luk, Carlos Pang, Pang, Gerald Genta, Chan, … Organizations: CNN, Rolex, Horology, Facebook, IWC, ” Locations: haute, Hong Kong, Geneva

☆ China’s Chang’e-6 moon probe stands by for launch as space race with US heats up
▼ + stars: | 2024-05-02 | by ( Simone Mccarthy | Marc Stewart | ) edition.cnn.com time to read: +6 min

China’s planned 53-day mission would see the Chang’e-6 lander touch down in a gaping crater on the moon’s far side, which never faces Earth. China became the first and only country to land on the moon’s far side during its 2019 Chang’e-4 mission. Ambitious missionThe Chang’e-6 probe will be a key test for China’s space capabilities in its effort to realize leader Xi Jinping’s “eternal dream” of building the country into a space power. This time, to communicate with Earth from the moon’s far side, Chang’e-6 must rely on the Queqiao-2 satellite, launched into lunar orbit in March. This time, China has said the Chang’e-6 mission will carry scientific instruments or payloads from France, Italy, Pakistan and the European Space Agency.

Persons: China’s, “, Ge Ping, Xi Jinping’s, James Head, Luo Yunfei, Bill Nelson, –, ” Nelson Organizations: Hong Kong CNN, China, Space Administration’s, of Lunar Exploration, Space Engineering, Brown University, China News Service, Luna, NASA, European Space Agency Locations: China, Hong Kong, Hainan, United States, Russia, Chang’e, India, Japan, Texas, France, Italy, Pakistan

☆ Shares of Nio soar more than 20% as EV deliveries more than double in April
▼ + stars: | 2024-05-02 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April. Nio shares also helped boost the broader Hang Seng index , which jumped 2% by midday trading. "The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans," the company said in a statement on Wednesday. Nio has delivered 45,673 vehicles so far this year, 21.2% higher than the same period a year earlier. The Chinese EV maker has also been expanding its battery swap partnerships as it seeks to get an edge on the infrastructure side of the EV ecosystem.

Persons: Nio's ET5, Nio Organizations: Central China International, Nio Inc, Hong Locations: Wuhan, China, Hong Kong

☆ Apple's China sales in focus ahead of earnings
▼ + stars: | 2024-05-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

In February, Apple said it expected sales similar to last year's $94.84 billion during the same period and flat iPhone sales. In the December quarter, sales dropped 13% in Greater China, which includes Hong Kong and Taiwan. Analysts polled by FactSet expect $15.25 billion in China regional sales, which would be a 14% year-over-year decline. "In strong iPhone cycles, Apple's China revenues typically grow much faster than Apple overall, as Chinese consumers embrace the new phone," Sacconaghi wrote. Meanwhile, state statistics show iPhone sales falling 33% in February, the second consecutive month of declining shipments.

Persons: Tim Cook, Deirdre O'Brien, Apple, AAPL, Bernstein, Toni Sacconaghi, Sacconaghi, David Vogt, Aaron Rakers, There's, Morgan Stanley, Erik Woodring, Woodring Organizations: Apple, Analysts, FactSet, Huawei, Chinese Communist Party, Counterpoint Research, UBS Locations: China, Greater China, Hong Kong, Taiwan, repurchases

☆ China hedge fund Pinpoint is bouncing back in 2024 after years of poor performance
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Pinpoint Asset Management is a Hong Kong-based hedge fund with offices in Shanghai and Singapore. According to HSBC's Hedge Weekly report, the firm's China fund gained more than 2% through the first two weeks of April to bring its year-to-date returns to just under 8%. The firm's multi-strategy fund was up 1.8% for the month through April 15, to bring its 2024 gains to 6%. The China fund had a run of poor performance given the country's economic slowdown. The performance so far in 2024 has beaten out other funds focused on the region — Hedge Fund Research's China index was up just 0.43% through the end of March.

Persons: —, Wang Qiang Organizations: Service, HSBC's, HSBC, Citadel Locations: Hong Kong, Shanghai, Singapore, China, Asia

We were cleared as we knew we would be.”HISA investigated the deaths at Churchill and Saratoga and concluded that several factors, including frequency of high-intensity exercise, likely contributed. Some of the horses who died received corticosteroid injections in their joints within 30 days of racing. At its center was a veterinarian and drug compounder named Dr. Seth Fishman, who bragged on wiretaps about “having a relationship with top trainers and top owners” in the horse racing world. “What I’m trying to say is anytime you give something to a horse, that’s doping. agent posing as a New Jersey racing official pulled samples from a group of horses and sent them to a Hong Kong laboratory considered one of the finest in the world.

Persons: ” Mr, Joseph, “, ” HISA, HISA, compounder, Seth Fishman, Dr, Fishman Locations: Churchill, Saratoga, Florida, New Jersey, Hong Kong

☆ U.S. issues hundreds of sanctions targeting Russia, takes aim at Chinese companies
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +1 min

Ukrainian servicemen ride on an armored personnel carrier in a field near Chasiv Yar, Donetsk, on April 27, 2024, amid the Russian invasion of Ukraine. The United States on Wednesday issued hundreds of fresh sanctions targeting Russia over the war in Ukraine in action that took aim at Moscow's circumvention of Western measures, including through China. The U.S. Treasury Department imposed sanctions on nearly 200 targets and the State Department designated more than 80 in one of the most wide-ranging actions against Chinese companies so far in Washington's sanctions aimed at Russia. China's support for Russia is one of the many issues threatening to sour the recent improvement in relations between the world's biggest economies. "The Chinese side firmly opposes the U.S.'s illegal unilateral sanctions," he said.

Persons: Janet Yellen, Antony Blinken, Yellen, Liu Pengyu Organizations: The U.S . Treasury, State Department, The U.S, Treasury, World Trade Organization, U.S Locations: Chasiv Yar, Donetsk, Ukraine, United States, Russia, China, The U.S, The, Hong Kong, Washington, U.S

☆ The Protests Help Trump - The New York Times
▼ + stars: | 2024-05-02 | by ( David Brooks | ) www.nytimes.com time to read: +1 min

These days, I think a lot about Donald Trump. When the monthly economic reports come out, I think: Will this help elect Donald Trump? In the 1960s, for example, millions of young people were moved to protest the war in Vietnam, and history has vindicated their position. In 1968, Richard Nixon celebrated the “forgotten Americans — the nonshouters; the nondemonstrators” and was elected to the presidency. Far from leading to a new progressive era, the uprisings of the era were followed by what was arguably the most conservative period in American history.

Persons: Donald Trump, I’ve, —, Ronald Reagan, “, Berkeley ”, Richard Nixon, Vincent Bevins Organizations: Berkeley Locations: Israel, Gaza, Vietnam, California, Egypt, Turkey, Brazil, Ukraine, Hong Kong

☆ Bitcoin will drop 13% to $50,000 after falling below a key support level as macro drivers slow, Standard Chartered says
▼ + stars: | 2024-05-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto's decline has been driven by rising ETF outflows and falling US liquidity levels. AdvertisementDeteriorating conditions are denting the Bitcoin rally, with this week's drop below $60,000 putting it en route for an even lower price range. According to commentary from Standard Chartered, the apex token could temporarily reach as low as $50,000, signaling an over 13% drop from current levels. Among these are shrinking investments in spot bitcoin ETFs, funds that first sparked the rally at the year's start.

Persons: —, Geoff Kendrick, Kendrick, Mike Novogratz, he's Organizations: Chartered, outflows, Service, Standard Chartered, FX Locations: Hong Kong

☆ Estee Lauder is punished for its light guidance. Here's why we are not joining the sellers
▼ + stars: | 2024-05-01 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Estee Lauder tumbled Wednesday as investors focused on the company's weak fiscal fourth-quarter outlook instead of its strong third-quarter numbers. Estee Lauder Why we own it: We see profitability improving as management executes on its turnaround plan and works to improve gross margin performance. These are signs the worst should be behind Estee Lauder. While full-year adjusted earnings are still expected to decline on an annual basis, Estee Lauder encouragingly bumped up its outlook. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, Fabrizio Freda, Freda, Estee Lauder encouragingly, we're, That's, Estee, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, L'Oreal, Chanel, Body, Street, Management, Wall, Japan, CNBC, daimaru, Getty Locations: LVMH, —, Asia, North America, Latin America, Mexico, Brazil, Hong Kong, China, Japan, Mainland China, Nanjing, Shanghai

☆ US imposes sanctions on more than a dozen companies in China for support of Russia’s war in Ukraine
▼ + stars: | 2024-05-01 | by ( Jennifer Hansler | Samantha Waldenberg | ) edition.cnn.com time to read: +1 min

CNN —The United States imposed sanctions on more than a dozen companies in China and Hong Kong for their support of Russia’s war in Ukraine as part of a tranche of nearly 300 new sanctions unveiled Wednesday. “The almost 300 targets being sanctioned by both Treasury and the Department of State include sanctions on dozens of actors that have enabled Russia to acquire desperately needed technology and equipment from abroad,” the Treasury Department said in a news release. The sanctions also hit targets within Russia, as well as Azerbaijan, Belgium, Slovakia, Turkey and the United Arab Emirates. The sanctions are aimed at cracking down on sanctions evasion and support for Russia’s military-industrial base and its biological and chemical weapons programs. The Treasury Department also targeted those involved in providing precursor materials to Russia used in explosives.

Persons: Janet Yellen, Antony Blinken, “ Organizations: CNN, Ukraine, Treasury, Department of State, Treasury Department, United, United Arab Emirates Locations: United States, China, Hong Kong, Ukraine, Russia, Azerbaijan, Belgium, Slovakia, Turkey, United Arab

☆ I quit my $376,000 dream job at Goldman Sachs to care for my mother when she got sick. I felt sorry for myself at first — but now I have no regrets.
▼ + stars: | 2024-05-01 | by ( Kaila Yu | ) www.businessinsider.com time to read: +6 min

After graduating from Wellesley College, majoring in Chinese studies and economics, I worked at a couple of finance jobs before being poached by Goldman Sachs in Hong Kong. At Goldman Sachs, I made over $376,000 annually. I quit Goldman Sachs in 1999 and moved back home to the Bay Area, where I became lonely and incredibly sad. After about three months of traveling back and forth, I quit Goldman Sachs. Was it worth it to leave Goldman Sachs?

Persons: —, Cassindy Chao, It's, Goldman Sachs, I'd, Fred, Jackie Chan, we've, We'd, Chao, Cecilia, Chao I'm, I've Organizations: Service, Wellesley College, Business, Goldman, Ivy League Locations: Oakland , California, Hong Kong, Thailand, Japan, Vietnam, Bay, California

☆ HK spot crypto ETF market has the potential to be double the size of the U.S.: CEO
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHK spot crypto ETF market has the potential to be double the size of the U.S.: CEOTongli Han, CEO of Harvest Global Investments says the in-kind subscription model for Hong Kong's newly launched spot bitcoin and ether ETFs will appeal to cryptocurrency "native" participants.

Persons: Tongli Han, Hong Kong's Organizations: HK, Harvest Global Investments Locations: U.S

☆ Highway collapse kills 19 people in southern China
▼ + stars: | 2024-05-01 | by ( Wayne Chang | ) edition.cnn.com time to read: +1 min

CNN —Nineteen people have been killed after a highway collapsed in China’s Guangdong province on Wednesday, according to the country’s state broadcaster, CCTV. A section of the express highway connecting Meizhou City and Dapu City in Guangdong Province collapsed at around 2:10 a.m. on Wednesday, leaving eighteen cars trapped, CCTV reported. Southern China has been bombarded with heavy rain in recent weeks. Guangdong province, an economic powerhouse home to 127 million people, has seen widespread flooding, which has forced more than 110,000 people to relocate, state media reported, citing the local government. The floods have killed at least four people in Guangdong, including a rescue worker, state news agency Xinhua reported Monday.

Organizations: CNN, Xinhua Locations: China’s Guangdong, Meizhou City, Dapu City, Guangdong Province, Guangdong, Southern China, Hong Kong

☆ Bitcoin nosedives below $57,000 to two-month low ahead of U.S. Fed decision
▼ + stars: | 2024-05-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment in markets, as investors kept an eye on the U.S. Federal Reserve's upcoming interest rate decision. Crypto market participants are eyeing the upcoming interest rate decision from the U.S. Federal Reserve. The Federal Open Market Committee is due to meet on Wednesday afternoon to discuss its latest policy on interest rates. Markets have become more shaky lately, as investors fret over the prospect of a longer path toward interest rate cuts.

Persons: Bitcoin, Jerome Powell, Geoff Kendrick, Kendrick, Changpeng Zhao Organizations: U.S, U.S . Federal, U.S . Federal Reserve Locations: U.S ., CoinGecko, solana, U.S, Hong Kong

☆ More risks buying spot crypto ETFs with cash than in-kind purchases: HashKey
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore risks buying spot crypto ETFs with cash than in-kind purchases: HashKeyHashKey Exchange's Heddy Tsang says the in-kind purchase options for Hong Kong's newly listed spot crytpo ETFs will open a new channel for market participation.

Persons: Heddy Tsang Organizations: Hong

☆ A viral conspiracy theory on TikTok says nice people don’t get promoted. But experts disagree
▼ + stars: | 2024-04-30 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +5 min

One viral TikTok has young workers up in arms about the perils of being pleasant in the workplace. A TikToker who goes by the name Jacqueline recently posted a TikTok video where she claimed that people who are "a pleasure to work with" will "never get promoted." She added: "You will never be promoted out of a hardworking more junior position where a lot of the hard work exists ... There's a lot of benefits to being other-oriented like we like nice people and we do nice things for those people," he added. 'Pleasant people don't bend over backwards'In Jacqueline's TikTok video, she conflates having a pleasant personality with being a pushover, according to Vogel.

Persons: Jacqueline, Cameron Anderson, Andrew Brodsky, Brodsky, Ryan Vogel, Vogel Organizations: Haas School of Business, University of California, University of Texas, McCombs School of Business, CNBC, Chinese University of Hong, University of Iowa, Purdue University, Fox School of Business, Management, Temple University Locations: Berkeley, Chinese University of Hong Kong, agreeableness

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