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☆ Elon Musk showed off updates to his brain chips and said he’s going to install one in himself when they are ready
▼ + stars: | 2022-12-01 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Elon Musk's health tech venture Neuralink shared updates to its brain-implant technology during a "show and tell" recruitment event Wednesday night. "We're confident there are no physical limitations to restoring full body functionality," Musk said. Neuralink could begin to test the motor cortex technology in humans in as soon as six months, Musk said. "You could have a Neuralink device implanted right now and you wouldn't even know. Musk showed footage of a monkey with a computer chip in its skull playing "telepathic video games," which Neuralink first debuted over a year ago.

☆ One of China's biggest retailers is cutting executive pay to create a fund to help lower-level employees buy homes
▼ + stars: | 2022-11-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

The e-commerce titan will allocate $1.4 billion to help rank-and-file employees buy homes. The move comes amid China's "common prosperity" campaign to reduce economic inequality in the country. The billionaire's philanthropy is part of China's "common prosperity" campaign to close the income gap and bolster social equality in the country. He brought up the slogan "common prosperity" multiple times in his opening speech, Insider reported. ByteDance founder Zhang Yiming donated 500 million yuan, or $77.3 million, in June of 2021 to Fangmei Education Development Fund, named after Zhang's grandmothers in his hometown of southeastern Longyan city.

☆ China leaves lending benchmarks unchanged for 3rd straight month in Nov
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 21 (Reuters) - China kept its benchmark lending rates unchanged for the third straight month on Monday, as a weaker yuan and persistent capital outflows continued to limit Beijing's ability to ease monetary conditions to support the economy. As expected, the one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. The latest official data showed that overseas investors had sold their holdings of China's onshore bonds for a ninth straight month in October, the longest streak of outflows on record. "We think there's probability to lower the 5-year LPR in December due to the downturn in the property market," said Xing Zhaopeng, senior China strategist at ANZ. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

☆ China keeps key lending rate unchanged as policymakers balance yuan, economic risks
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +3 min

"Keeping policy rates stable will help curb widening interest rate differentials between China and the United States and stabilise FX market expectations." With 1 trillion yuan worth of MLF loans set to expire on the same day, the operation resulted in a net 150 billion yuan medium-term cash withdrawal through the instrument. The central bank said the latest operation was aimed at counteracting higher cash demand due to tax payments and keeping "banking system liquidity reasonably ample". Separately, the central bank also injected 172 billion yuan through seven-day reverse repos while keeping borrowing costs unchanged at 2.00%, compared with 2 billion yuan worth of such loans expiring on the same day. The central bank will "continue to maintain ample liquidity, but chances for an interest rate cut are low," he said.

☆ China is easing its Covid measures. Here’s how market pros are playing it
▼ + stars: | 2022-11-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China announced a shortening of its quarantine requirements last week, while simplifying travel rules and adjusting its monitoring regime. China has stood firm on its zero-Covid policy even as countries around the world adopt a "live with the virus" approach. Fund manager Brian Arcese believes the market reaction reflects the "underlying fundamentals that earnings will really start to improve." Meanwhile, Arcese, who is a portfolio manager at Foord Asset Management, said the firm has a China exposure of about 20%. It should benefit from the re-opening of China as tourism gradually recovers to pre-Covid levels," he added.

Rep. Steve Horsford defeated Republican Sam Peters in Nevada's 4th Congressional District. Senate Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. (3 Districts) Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. NV-01NV-03NV-04 House Governor Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. RenoNorth Las Vegas MayorDemocratic Rep. Steve Horsford defeated Republican Sam Peters in Nevada's 4th Congressional District.

Rep. Cindy Axne ran against Republican Zach Nunn in Iowa's 3rd Congressional District. Democratic Rep. Cindy Axne lost her bid for reelection against Republican state Sen. Zach Nunn in Iowa's 3rd Congressional District. 2022 General EmbedsIowa's 3rd Congressional District candidatesAxne is a member of the Committees on Financial Services and Agriculture. Voting history for Iowa's 3rd Congressional DistrictIowa's 3rd Congressional District is located in the southwestern region of the state. The National Republican Congressional Committee and Congressional Leadership Fund, a pro-Nunn super PAC, account for the majority of that spending.

Rep. Elissa Slotkin won reelection against Republican state Sen. Tom Barrett in Michigan's 7th Congressional District. Democratic Rep. Elissa Slotkin won reelection against Republican Tom Barrett in Michigan's 7th Congressional District. 2022 General EmbedsMichigan's 7th Congressional District candidatesWhen Slotkin first won the seat in 2018, she became the first Democrat to represent Michigan's 8th Congressional District (pre-redistricting) since 2001 with her victory over incumbent Rep. Mike Bishop. In 2022, she ran unopposed in the Democratic primary for the 7th Congressional District. Voting history for Michigan's 7th Congressional DistrictMichigan's newly drawn 7th Congressional District sits in the central region of the state and spans seven counties.

Democrat Nikki Budzinski defeated Republican Regan Deering in Illinois' 13th Congressional District. Democrat Nikki Budzinski defeated Republican Regan Deering in Illinois' 13th Congressional District. Republican Rep. Rodney Davis, who currently represents the 13th District, was drawn out when the district was newly reconfigured, leaving the seat vacant. Illinois' 13th Congressional District candidatesBudzinski, who is running for Congress the first time, has previous experience in Washington. Voting history for Illinois' 13th Congressional DistrictIllinois' 13th Congressional District spans from Metro East St. Louis to parts of Springfield, Decatur, and Champaign-Urbana.

Rep. Henry Cuellar defeats Republican Cassy Garcia in Texas' 28th Congressional District. The 28th District is located along Texas' border with Mexico. AustinCorpus Christi MayorLongtime Democratic Rep. Henry Cuellar defeated Republican Cassy Garcia in Texas' 28th Congressional District. 2022 General EmbedsTexas' 28th Congressional District candidatesCuellar is a member of the House Appropriations Committee and is one of the most conservative members of the House Democratic caucus. Voting history for Texas' 28th Congressional DistrictTexas' 28th Congressional District encompasses a section of the U.S.-Mexico border and stretches to the easternmost outer regions of San Antonio, the state's second-most populous city behind Houston.

☆ Live Results: Rep. Henry Cuellar, an anti-abortion Democrat, faces off against Republican Cassy Garcia in Texas' 28th Congressional District election
▼ + stars: | 2022-11-08 | by ( Madison Hall | Jessica Xing | Nov | ) www.businessinsider.com time to read: +5 min

Rep. Henry Cuellar is running against Republican Cassy Garcia in Texas' 28th Congressional District. The 28th District is located along Texas' border with Mexico. AustinCorpus Christi MayorLongtime Democratic Rep. Henry Cuellar faces off against Republican Cassy Garcia in Texas' 28th Congressional District. 2022 General EmbedsTexas' 28th Congressional District candidatesCuellar is a member of the House Appropriations Committee and is one of the most conservative members of the House Democratic caucus. Voting history for Texas' 28th Congressional DistrictTexas' 28th Congressional District encompasses a section of the U.S.-Mexico border and stretches to the easternmost outer regions of San Antonio, the state's second-most populous city behind Houston.

Democrat Josh Riley is running against Republican Marc Molinaro in New York's 19th Congressional District. Democrat Josh Riley faces off against Republican Marc Molinaro in New York's 19th Congressional District. 2022 General EmbedsNew York's 19th Congressional District candidatesRiley is an attorney who formerly served as a counsel on the Senate Judiciary Committee. Voting history for New York's 19th Congressional DistrictNew York's 19th Congressional District stretches from Ithaca to the Massachusetts border. His opponent, Molinaro, has raised $2.2 million, spent $1.8 million, and has $455,354 cash on hand, as of October 19.

Rep. Steve Horsford is running against Republican Sam Peters in Nevada's 4th Congressional District. Senate Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. (3 Districts) Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. NV-01NV-03NV-04 House Governor Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. RenoNorth Las Vegas MayorDemocratic Rep. Steve Horsford faces Republican Sam Peters in Nevada's 4th Congressional District.

☆ Oracle salaries revealed: See how much engineers, developers, and hundreds of other employees earn at the $202 billion database giant
▼ + stars: | 2022-10-27 | by ( Diamond Naga Siu | Jessica Xing | Ellen Thomas | ) www.businessinsider.com time to read: +2 min

Database giant Oracle conducted another round of layoffs this month, Insider reported. Insider analyzed H-1B visa applications to get a sense of how much Oracle paid employees. The $202 billion database giant quietly conducted another round of layoffs, primarily impacting its North American Cloud Infrastructure and Technology unit, Insider reported in October. Insider combed hundreds of disclosed salaries from the office, which authorizes hiring non-US employees, then publicly releases the data. But it is a valuable guide to Oracle salaries for a variety of positions, including engineers, managers, and more.

☆ Exclusive: China FX regulator surveys banks about positioning as yuan plunges
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

"The FX regulator asked (us) about our market views and our positioning," said one of the sources. Two of the sources said the State Administration of Foreign Exchange (SAFE) made it clear the survey was urgent. "Foreign exchange reserves are at a critical level, and some market participants are betting that the authorities will eventually intervene." China's foreign exchange reserves now stand at just above the closely watched $3 trillion level. "China is likely to protect the reserves this time round as the Congress emphasizes that foreign exchange reserves are an indicator of comprehensive national strength," said ANZ's Xing.

☆ EXCLUSIVE China FX regulator surveys banks about positioning as yuan plunges - sources
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

☆ Oracle is shunning job seekers in high-paying tech hubs like San Francisco, Seattle, and New York to cut costs: 'They're OK passing on the top candidates'
▼ + stars: | 2022-10-25 | by ( Ellen Thomas | Jessica Xing | ) www.businessinsider.com time to read: +9 min

Oracle hiring managers and recruiters have been told to fill roles in cheaper US cities or abroad. Filling roles in areas where talent is cheaper, especially outside the US, has long been a cost-saving strategy for Oracle hiring managers, current and former employees said. "That sounds crazy to me," said Oracle executive Ken Glueck in response to a description of the claims made by Oracle employees in this story. Glueck did not directly answer whether the company was prioritizing hiring candidates outside of tech hubs like the San Francisco Bay Area, Seattle, and New York. Cities like Philadelphia, Dallas Fort-Worth, and Denver saw the highest growth rates for tech salaries this year.

☆ Chip firm Navitas, worth $1 billion, is competing with industry leaders to replace silicon chips with more environmentally-friendly gallium-nitride ones.
▼ + stars: | 2022-10-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +7 min

After spending decades working with silicon chips, Sheridan started Navitas to capitalize on an emerging technology he says has a multibillion-dollar market potential. Today, most of Navitas' GaN chips can be found in phone and laptop chargers made by companies like Samsung, LG, Lenovo, and Dell. Sheridan said integrated circuits gave Navitas chips a competitive edge over GaN chips produced by competitors like Infineon, Texas Instruments, and Nvidia. GaN chips are far from replacing silicon chipsWhile GaN chips have promise, silicon chips are dominant. It says it has also invested in research and development to design GaN chips for bigger systems.

☆ Oracle insiders say that even its all-important cloud unit is being dragged down by new restrictions on hiring — a major turnaround for a unit that usually gets whatever it wants
▼ + stars: | 2022-10-24 | by ( Jessica Xing | Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Oracle has restricted hiring at OCI, telling recruiters to stay away from expensive areas like SF. Its marketing and customer experience, or CX, divisions were among the hardest-hit units, but the company's cloud division, Oracle Cloud Infrastructure , or OCI, appeared to remain untouched. The restrictions inside OCI in particular follow a period of rapid hiring in 2021, when cloud firms raced to give candidates lucrative packages to win talent, the employee said. Business from OCI, especially with the addition of TikTok, has helped grow Oracle's revenue by 5% in the most recent fiscal year. Additionally, the firm's unwillingness to spend on labor has cost Oracle before, especially as its marketing cloud unit continues to lag behind competitor Salesforce.

☆ Meet the TikToker who quit van life after gas prices soared — she's making $4,000 a month while living in her car and waiting for her new Tesla to arrive
▼ + stars: | 2022-10-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Billie Webb is a TikToker who filmed herself taking part in van life last year. Now she has raffled off her van to live in a 2015 Mazda, blaming soaring gas prices. Van life has become more popular amid the pandemic and rising rents and property prices. Webb quit van life as gas prices soared, with her Chevy running at 7 to 10 miles a gallon and costing her more than $100 to fill up. Gym memberships are a must-have for anyone joining van or car life, she said.

☆ Oracle employees say new location-based hiring restrictions are even impacting the cloud unit, which is the one place the typically frugal company was always willing to spend big for talent
▼ + stars: | 2022-10-21 | by ( Jessica Xing | Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Oracle has restricted hiring at OCI, telling recruiters to stay away from expensive areas like SF. OCI is Oracle's big cloud computing bet, where the firm was always willing to spend top dollar. Its marketing and customer experience (CX) divisions were among the hardest-hit units, but the company's cloud division, Oracle Cloud Infrastructure (OCI), appeared to remain untouched. Business from OCI, especially with the addition of TikTok, has helped grow Oracle's revenue by 5% in the most recent fiscal year. Additionally, the firm's unwillingness to spend on its labor has cost Oracle before, especially as its marketing cloud unit continues to lag behind competitor Salesforce.

☆ Oracle employees say a wave of new hiring restrictions is cratering already low morale, and many worry another round of mass layoffs is looming
▼ + stars: | 2022-10-19 | by ( Ellen Thomas | Jessica Xing | ) www.businessinsider.com time to read: +6 min

Start dates are being pushed and hiring cut across several business units at Oracle, insiders say. Some units that are hiring must target low-cost areas and avoid markets like Seattle and New York. Employees say restrictions are hurting an already demoralized workforce and worry more layoffs loom. Hiring managers across the company have been asked to push back start dates for new recruits, according to two sources within Oracle's recruiting division. More broadly, hiring has been slashed or significantly slowed down across several business units, according to conversations with several company insiders.

☆ China's economic development remains a 'top priority,' says Morgan Stanley
▼ + stars: | 2022-10-18 | 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 EmailChina's economic development remains a 'top priority,' says Morgan StanleyRobin Xing of the financial services firm says that's despite "some increased mentioning of security" at the 20th Party Congress of the Chinese Communist Party.

☆ Twilio salaries revealed: Here's how much engineers, product managers, and more make at the cloud-communications company
▼ + stars: | 2022-10-13 | by ( Jessica Xing | Diamond Naga Siu | ) www.businessinsider.com time to read: +1 min

This year, despite a pandemic boom, Twilio was hit hard by tech's economic downturn. Despite an impressive pandemic boom, Twilio, like many other tech giants, got hit hard by tech's recent economic downturn. The data does not include stock grants, which can significantly increase total compensation, but it's a valuable guide to Twilio salaries for a variety of positions. Insider dug through the hundreds of disclosed salaries that represent engineers, managers, and more. The analyzed salaries come from the second quarter of 2022 and mainly represent workers in California, Washington, and Colorado.

☆ Designers say Figma gave them 'superpowers.' With Adobe's $20 billion takeover, some think the beloved startup is as good as dead.
▼ + stars: | 2022-09-27 | by ( Paayal Zaveri | Jessica Xing | ) www.businessinsider.com time to read: +9 min

When Adobe announced its $20 billion bid for Figma, the design community was immediately concerned. When Adobe announced it was acquiring the design startup Figma for $20 billion, designers were quick to express their discontent over the blockbuster deal. So when Adobe announced its intention to buy Figma, much of the design community was immediately concerned. Designers worry Figma will become less accessibleWhile Field's committment to keeping prices the same for now may reassure some, others are skeptical. And some designers Insider spoke to say the acquisition could even benefit companies that have been paying a hefty bill for both.

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