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☆ Super Micro shares tumble 15% after DOJ reportedly opens probe into company
▼ + stars: | 2024-09-26 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Super Micro Computer shares fell more than 15% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of the artificial intelligence boom. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including AI algorithms. A prosecutor in the U.S. attorney's office in San Francisco has asked for information about a former employee who has previously accused Super Micro of accounting violations, according to the Journal. Following Hindenburg's report in August, Super Micro said it would not file its annual report for the fiscal year with the U.S. Securities and Exchange Commission on time, sending shares tumbling nearly 20%. Super Micro declined to comment.

Persons: Hindenburg Organizations: Micro Computer, Justice Department, Wall Street Journal, Hindenburg Research, CNBC, Nvidia, AMD, Intel, Super, U.S . Securities, Exchange Commission, Department of Justice Locations: U.S, San Francisco

☆ Zelensky to make urgent in-person plea to Biden and Harris as Ukraine braces for possibility of a Trump presidency
▼ + stars: | 2024-09-26 | by ( Kevin Liptak | Mj Lee | ) edition.cnn.com time to read: +8 min

CNN —Ukrainian President Volodymyr Zelensky’s visit to the White House on Thursday could be his final chance to convince a receptive American president of his country’s war aims. Even if Biden decides to allow the long-range fires, it’s unclear whether the change in policy would be announced publicly. The ongoing war between Ukraine and Russia is no exception, they say, insisting that Ukraine would continue to have the US’s unwavering support against Russian aggression under a Harris presidency. “Five days before Russia attacked Ukraine, I met with President Zelensky to warn him about Russia’s plan to invade. There is quiet recognition even inside the Biden administration that any reassurances Zelensky may receive from Biden and Harris this week on the US’s commitment to supporting Ukraine could all be for naught under a different American president.

Persons: Volodymyr Zelensky’s, ”, Joe Biden, Kamala Harris, Harris, Donald Trump, Biden, he’s, Trump, —, they’re, ” Trump, it’s, Zelensky, won’t, Mike Johnson, Jake Sullivan, it’s Putin, Harris Zelensky’s, JD Vance “, ” Zelensky, “ Organizations: CNN, White, Thursday’s, US, United Nations General Assembly, Republican Congressional, Capitol, Republican, MSNBC, Biden, Munich Security Conference, Democratic, Convention, NATO, Yorker Locations: Ukraine, Russian, Mint Hill, North Carolina, Washington, Russia, Italy

☆ China offers one-time cash allowance for those in extreme poverty
▼ + stars: | 2024-09-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

China's government announced it will offer a one-time cash allowance to those in extreme poverty, a day after its central bank rolled out a slate of stimulus measures aimed at shoring up the economy. The handout will be provided to "extremely poor people, orphans and other needy people on the occasion of the 75th anniversary of the founding of New China," China's Ministry of Civil Affairs reported on Wednesday. The report did not specify the size of the allowance or any further details. As of last November, 40.4 million people in China were covered by subsistence allowances. The average allowance was about 779 yuan ($110.80) per person a month for those staying in urban areas, while rural subsistence was 615 yuan per person.

Persons: Xi, Shaun Rein, Mao Zedong Organizations: New, Ministry of Civil Affairs, CPC, China Market Research, CNBC Locations: New China, China

☆ Sam Altman is way more interested in AI's next chapter than upheaval at OpenAI
▼ + stars: | 2024-09-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Read previewSam Altman might be facing upheaval at OpenAI, but that isn't stopping him from discussing his grand plans for the company's next stage. 'Better everything'"The two trends I'm most excited about for the next couple of decades are abundant intelligence and abundant energy," Altman told the audience. The growth, the increase in quality of life we can have in the world — better sustainability, better education, better healthcare, better everything," he added. AdvertisementIt's not the first time Altman has talked up the glorious future that AI — and by extension, OpenAI — may usher in. AdvertisementAltman has previously called for massive investment in AI infrastructure, warning that making AI technology widespread would require "lots of energy and chips."

Persons: —, Sam Altman, Altman, Mira Murati, Murati, John Elkann, cofounders Ilya Sutskever, John Schulman, Elon Musk, OpenAI, Altman's Organizations: Service, Italian Tech, Business, Google, Elon, Bloomberg, Energy Locations: OpenAI, Italy

☆ OpenAI has 4 big challenges it needs to conquer in its quest for AI dominance
▼ + stars: | 2024-09-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +9 min

OpenAI bleeds C-suite executivesAs OpenAI chases a massive fundraising round, the startup continues to deal with a staff exodus. The nonprofit side of OpenAI will still exist and have a minority stake in the for-profit company, the sources told Reuters. "Given the ambitions of OpenAI, a non-profit structure has been too constraining. AdvertisementThe debate over whether OpenAI should be a for-profit company has been a bone of contention for one very vocal tech industry bigwig — Elon Musk. Park, the corporate law expert, told BI that the for-profit governance structure could also leave OpenAI vulnerable to greater government scrutiny.

Persons: —, OpenAI, Mira Murati, Sam Altman's, Murati, Barret Zoph, Bob McGrew, Altman, Greg Brockman, Wojciech Zaremba, Brockman, Ilya Sutskever, John Schulman, Peter Deng, Sutskever, James, I'd, Slack, Gene Munster, She's, Mira, — Elon, Musk, Gary Marcus, Marcus, Musk's, Mark Zuckerberg, xAI, Sam Altman, Munster Organizations: Service, Technology, Business, Microsoft, Nvidia, Wired, University of California, OpenAI, Bloomberg, Deepwater Asset Management, Reuters, Intelligence, Guardian, Meta Locations: It's, OpenAI, Los Angeles

☆ Stock market today: Indexes rally on China stimulus, promising labor-market data
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday on positive jobs data and promises of further economic stimulus in China. AdvertisementUS stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. The indexes' gains were also fueled by positive labor market data. Meanwhile, second-quarter GDP came in unrevised at a 3% annualized rate, according to data released Thursday.

Persons: —, Eric Jackson, SocGen Organizations: Service, Labor Department, Federal Reserve Locations: China, unrevised

☆ UK finance chiefs are banging the drum for one major reform to boost economic growth
▼ + stars: | 2024-09-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country. William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to economic growth, alongside skills and education, and regulation. "If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. "For me, pension reform is the way to unlock growth in the U.K.," Lee told "Squawk Box Europe." UK pensions reviewU.K. Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.

Persons: Ian Forsyth, —, William Vereker, Vereker, Muirinn O'Neill, we're, Tiina Lee, Lee, it's, Rachel Reeves, Tulip Siddiq Organizations: Labour Party Conference, ACC Liverpool, Getty, Labour, Santander U.K, Citi U.K, CNBC, Finance, Treasury Locations: Liverpool, England, ENGLAND, City, London

☆ A surfer without a degree is worth $16 billion after his biotech company's stock soared 1,100% in a year
▼ + stars: | 2024-09-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The company's stock price has surged by over 1,100% in the past 12 months, lifting its market value to over $16 billion. Summit stock jumped from about $12 on September 6 to a record high of $32 on September 13, but has retreated to around $23 since then. Spurred on by his son's death from brain cancer, Duggan started building a stake in Pharmacyclics, a maker of cancer drugs, in 2004. Pharmaceutical titan AbbVie bought the business for $21 billion in cash and stock in 2015, netting Duggan more than $3 billion, per Bloomberg. He joined Summit's board in 2019 and became CEO and chairman in 2020, making cancer drugs his principal focus.

Persons: —, Bob Duggan, Duggan, AbbVie Organizations: Service, Summit Therapeutics, Bloomberg, Business, Summit, UC Santa Barbara, Wall Street Journal, Computer, of Scientology, Duggan Investments Locations: Pharmacyclics

☆ Mukherjee: The projected energy demand is huge... it's going to double in the next few years
▼ + stars: | 2024-09-26 | 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 EmailMukherjee: The projected energy demand is huge... it's going to double in the next few yearsSubho Mukherjee, Vice President and Global Head of Sustainability at Nokia, discussed reducing energy consumption in AI-driven data centers and networks.

Persons: Mukherjee, Subho Mukherjee Organizations: Global, Sustainability, Nokia

☆ H&M shares fall as much as 8% on profit miss and scrapped earnings margin target
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Shares of H&M tumbled as much as 8% on Thursday after the world's second-largest listed fashion retailer posted a miss on operating profit and abandoned its earnings margin target. The Swedish clothing retailer reported that operating profit for the group's fiscal third quarter came in at 3.51 billion Swedish crowns ($345.8 million), which compared to 4.74 billion Swedish crowns a year ago. H&M dropped its earnings margin target for 2024 after warning of more challenging conditions earlier in the year. At present we estimate that this year's operating margin will be lower than 10 percent," H&M's Ervér said in a written statement.

Persons: LSEG, Daniel Ervér, Helena Helmersson, Ervér, Inditex, M's Ervér, M Organizations: Reuters, UBS Locations: Berlin, Germany, Swedish, Zara, London, Stockholm

☆ The OpenAI talent exodus has become the joke of the moment in tech world
▼ + stars: | 2024-09-26 | by ( Sarah Gray | ) www.businessinsider.com time to read: +5 min

Sutskever announced his departure from OpenAI in May and launched his own AI startup focused on safety. Of the 11 cofounders of OpenAI from 2015, only Altman, Brockman (who, again, is on leave), and Wojciech Zaremba remain. Daniel Kokotajlo and William Saunders, who previously worked on OpenAI's governance and safety teams, respectively, left OpenAI in the first half of 2023. AdvertisementAdditionally, OpenAI cofounder John Schulman left in August to join OpenAI rival Anthropic — where Leike also landed. On Wednesday, Meta announced that Meta AI is on track to be "the most used AI assistant in the world."

Persons: —, Mira Murati, Sam Altman, There's, OpenAI, Airbnb, KugtVv9o6N, Matt Turck, Altman, Murati, Ilya Sutskever, Greg Brockman, Brockman, Sutskever, Sam, Madeline, PnRxZSbGgx — sophie, Bob McGrew, Barret Zoph, Sarah Friar, Jakub Pachocki, Brad Lightcap, Kevin Weil, Wojciech Zaremba, Elon Musk, Musk, Jan Leike, Daniel Kokotajlo, William Saunders, John Schulman, Anthropic, Leike, Andrej Karpathy, Kokotajlo, Fortune Organizations: Service, Bloomberg, Business, Wired, OpenAI, —, Microsoft, Meta, Apple, Nvidia, Reuters Locations: OpenAI, Slack, —

☆ Rudy Giuliani disbarred in DC as part of 2020 election lies fallout
▼ + stars: | 2024-09-26 | by ( Tierney Sneed | ) edition.cnn.com time to read: +2 min

CNN —Former New York City Mayor Rudy Giuliani is disbarred in Washington, DC, the district’s highest local court said Thursday, a move stemming from the ethics proceedings Giuliani faced in New York because of his efforts to help former President Donald Trump try to overturn the 2020 election. Those New York proceedings led to Giuliani losing his license to practice there this summer, and because the DC Bar has a reciprocal relationship with the New York Bar, he is now being disbarred in the district. According to the new order from the DC Court of Appeals, Giuliani did not respond to an opportunity to object to his disbarment in Washington. Meanwhile, two Georgia election workers obtained a $148 million defamation judgment against him for false allegations he made about them after the 2020 election. The New York disciplinary attorney ethics proceedings against Giuliani played out mostly behind closed doors.

Persons: Rudy Giuliani, Giuliani, Donald Trump, Washington . Giuliani, Ted Goodman, ”, Mayor Giuliani can’t, ” Goodman Organizations: CNN, Former New York City, DC, New, of Appeals, Trump, Prosecutors, The, New York Supreme Locations: Washington , DC, New York, York, Washington ., Pennsylvania, Georgia, Arizona

☆ The Post Office wants stamp prices to rise five times in the next three years
▼ + stars: | 2024-09-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Three things seem certain to happen in life: death, taxes and the prices of stamps going up. The United States Postal Service announced that First-Class postage, currently at 73 cents, will go up five times through 2027, according to a detailed document submitted this week to the Postal Regulatory Commission. The next price hike is planned for July 2025 and will then repeat “each January and July thereafter” through the end of 2027, the agency said. However, all price changes must be approved by the Postal Regulatory Commission and the specific price hikes weren’t announced. First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication.

Persons: ”, Louis DeJoy, “ Organizations: New, New York CNN, United States Postal Service, Postal Regulatory Commission, weren’t, USPS Locations: New York

☆ France's biggest lender says there are 'too many' European banks as UniCredit moves on Commerzbank
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. France's BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling for the creation of more homegrown heavyweight banking champions. Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake. UniCredit, which took a 9% stake in Commerzbank earlier this month, appears to have caught German authorities off guard with the potential multibillion-euro merger. Germany's position on UniCredit's swoop has prompted some to accuse Berlin of favoring European banking integration only on its own terms.

Persons: CNBC's Charlotte Reed, Lars Machenil, Germany's Commerzbank, Machenil, Olaf Scholz, Scholz, Berlin Organizations: BNP, SA, Bank of America Financials, Spain's BBVA, Banco Sabadell Locations: Paris, France, U.S, Asia, Europe, Milan, Frankfurt, Germany's

☆ SK Hynix announces mass production of updated AI chip, spurring rally in Asian semiconductor stocks
▼ + stars: | 2024-09-26 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. SK Hynix said the chip would have a 36 gigabyte capacity, the largest among existing HBM chips. The South Korean giant has been a main supplier of the high-bandwidth memory chips catering to AI chipsets for companies like Nvidia . The development came as the world's second-largest memory chipmaker seeks to continue its dominance in the AI memory chip market.

Persons: SeongJoon Cho, SK Hynix Organizations: SK Hynix Inc, SK Hynix, Bloomberg, Getty, SK, Nvidia Locations: Seongnam, South Korea

☆ Domino's Pizza is not growing as much as it claims, investor says in new lawsuit
▼ + stars: | 2024-09-26 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Read previewAn investor has filed a class action lawsuit against Domino's Pizza, claiming the restaurant chain "overstated" its business and financial prospects. AdvertisementSpecifically, the company's annual global net store growth. The complaint says Domino's hosted its 2023 Investor Day that December, during which it discussed the long-term guidance for the annual global net store growth between 2024 and 2028. The class action lawsuit against Domino's Pizza Inc. is about its annual global net store growth. Despite investor concerns over its global net store growth, revenues at Domino's has grown.

Persons: —, Pizza, Bernstein Lierbhard, Russel J, Weiner, Sandeep Reddy, Justin Sullivan, Domino's, Matt Cardy, Stringer Organizations: Service, Pizza Enterprises, Business, Domino's, BI, Domino's Pizza Enterprises, Domino's Pizza, U.S, Company Locations: Michigan, Domino's

☆ Grubhub-owner Just Eat Takeaway to deliver sex toys in partnership with adult retailer Lovehoney
▼ + stars: | 2024-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Grubhub-owner Just Eat Takeaway.com said Thursday it had partnered with sex toy retailer Lovehoney Group, in an unexpected expansion into the so-called sexual wellness sector. Shares of Just Eat Takeaway.com climbed 2% Thursday, above the pan-European Stoxx 600 index's 1% gains. The firm's shares are down around 1% over the last 6 months amid a broader decline in food delivery stocks. This is the first big-name partnership of a takeaway delivery company with a sex-toy retailer, however. Just Eat bought Grubhub in June 2020, expanding the company's company's from Europe across the United States and Canada.

Persons: Takeaway.com, Guido Fambach, Honey Organizations: Lovehoney Locations: Fleet, England, Denmark, Austria, Europe, United States, Canada

☆ Treasury yields hold steady as investors look to economic data, Fed speaker comments
▼ + stars: | 2024-09-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by less than one basis point to 3.7791%. The 2-year Treasury yield was last at 3.5653% after rising by over one basis point. U.S. Treasury yields were little changed on Thursday as investors looked to fresh economic data and remarks from Federal Reserve officials. Economists polled by Dow Jones are expecting weekly initial jobless claims to come in at 223,000 for the most recent period. Elsewhere, the Swiss National Bank on Thursday cut its key interest rate by a quarter point, marking the third reduction this year.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, Swiss National Bank Locations: U.S

☆ NYC Mayor Eric Adams indicted on federal charges in campaign finance case
▼ + stars: | 2024-09-26 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

New York City Mayor Eric Adams speaks during a press conference at the City Hall, after it was revealed that he received a fresh round of federal grand jury subpoenas, New York City, U.S., August 16, 2024. New York City Mayor Eric Adams has been indicted on criminal charges in federal court in Manhattan, a source familiar with the matter told CNBC on Wednesday night. The indictment, which remains sealed for now, at least in part accuses Adams of criminal conduct related to donations to his 2021 mayoral campaign. Adams, a 64-year-old former police captain, is at least the second New York mayor to be criminally charged while still in office. If Adams resigns before his first term in office ends, he would be replaced by New York City Public Advocate Jumaane Williams as acting mayor.

Persons: Eric Adams, Adams, Alexandria Ocasio, Cortez, Jumaane Williams Organizations: York City, City, New York City, CNBC, city's Campaign, Program, New York, New York Police Department, Manhattan U.S, Attorney's, New York Times, City Hall, Police Department, Brooklyn Borough, FBI, Public Locations: York, New York City, U.S, New York, Manhattan, Turkey, Israel, China, Qatar, South Korea, Uzbekistan, New, Alexandria, Cortez

☆ UniCredit's pursuit of Commerzbank reflects a watershed moment for Europe — and its banking union
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Kirill Kudryavtsev | Afp | Getty ImagesEuropean banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Whatever the outcome of UniCredit's swoop on Commerzbank, Marsh said the episode marks "another huge test" for German Chancellor Olaf Scholz. What is Europe's banking union? OMFIF's Marsh said Germany's opposition to UniCredit's move on Commerzbank means Berlin "now stands accused of favouring European banking integration only on its own terms." The logo of German bank Commerzbank seen on a branch office near The Commerzbank Tower in Frankfurt.

Persons: Kirill Kudryavtsev, Italy's UniCredit, David Marsh, Marsh, Olaf Scholz, Scholz, –, Germany's Scholz, OMFIF's Marsh, UniCredit's, Daniel Roland, Onur Genç, Mario Centeno, CNBC's, —, Centeno Organizations: European Central Bank, Afp, Getty, London, European Union, CNBC, BBVA, Banco Sabadell, Reuters, European Central Bank's Governing, EU Locations: Frankfurt, Germany, Germany's, Milan, Europe, Commerzbank, Italy, Berlin, Spanish, Brussels, Spain

☆ Oil prices little changed as U.S. stockpile drop offsets global demand woes
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world's biggest oil user, offset concerns over demand elsewhere, particularly in China. Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world's biggest oil user, offset concerns over demand elsewhere, particularly in China. Oil prices slumped over 2% on Wednesday as worries over supply disruptions in Libya eased and demand concerns continued despite China's latest stimulus plans. Oil prices initially rose following the stimulus announcement from the world's biggest oil importer. "Any revival in Libyan production would return to a market that is already beset by concerns of weak demand in the U.S. and China," ANZ Research said.

Organizations: Brent, U.S, West Texas, ANZ Research, Energy Information Administration Locations: U.S, China, Libya, United States

☆ Financials offer opportunity in rate-cut cycle despite historical sentiment, says Oakmark's Coniaris
▼ + stars: | 2024-09-26 | 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 EmailFinancials offer opportunity in rate-cut cycle despite historical sentiment, says Oakmark's ConiarisTony Coniaris, Oakmark portfolio manager, joins 'Money Movers' to discuss where to find value in the market, whether the sentiment on Chinese securities has changed, and more.

Persons: Oakmark's, Tony Coniaris

☆ Lightspeed India: Singapore is the 'most under-talked about' market in the region
▼ + stars: | 2024-09-26 | 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 EmailLightspeed India: Singapore is the 'most under-talked about' market in the regionRahul Taneja, partner at Lightspeed India, discusses the outlook for venture capital in the Asia-Pacific.

Persons: Rahul Taneja Organizations: Lightspeed India Locations: Singapore, Asia, Pacific

☆ A ground invasion in Lebanon is not in Israel's interest: Former U.S. national security official
▼ + stars: | 2024-09-26 | 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 EmailA ground invasion in Lebanon is not in Israel's interest: Former U.S. national security officialMara Rudman, former senior national security official, says a ground invasion in Lebanon is not "in interest of no one in the region."

Persons: Mara Rudman Organizations: U.S Locations: Lebanon

☆ Blackstone reveals how to make money in India and mistakes to avoid
▼ + stars: | 2024-09-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

India's economic growth story is a stunning one — but the question of where investors should park their money is not always straightforward, with one Blackstone executive highlighting a common mistake. However, focusing too much on the macro story can be dangerous for investors, according to Blackstone Private Equity's head of Asia, Amit Dixit. I think you go to India for the macro, everybody knows," Dixit said at the Milken Institute's recent Asia Summit in Singapore. While the list of companies Blackstone invests in India are extensive, he spotlighted the likes of information technology service firm Mphasis , IT service management company R Systems and automotive components manufacturer Sona Comstar . "I think, either end of the spectrum, you can make a lot of money as an investor," he said.

Persons: Blackstone, Blackstone Private Equity's, Amit Dixit, Dixit, Sona Comstar, it's, Manraj Sekhon, Sekhon Organizations: Blackstone Private, Milken, Summit, CNBC, Blackstone, Systems, Templeton Global Investments, Milken Asia Summit Locations: India, Hong Kong, Asia, Singapore

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