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U.S. President Joe Biden meets with Chinese President Xi Jinping on the sidelines of the G20 leaders' summit in Bali, Indonesia, November 14, 2022. "This is going to overshadow anything that happens at APEC," said Oriana Skylar Mastro, a Stanford University China expert. Biden will welcome other APEC leaders - including from Vietnam, the Philippines, Canada and Mexico - and both he and Xi will be playing to the gallery. "Our door is open to any country or economy facing PRC (People's Republic of China) economic coercive threats," Melanie Hart, a senior China policy adviser at the State Department, said on Monday. That would include "companies flocking to meet with Xi Jinping and have dinner with him," he said.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Oriana Skylar Mastro, Xi, Biden, Victor Cha, Washington, Matthew Goodman, Goodman, Janet Yellen, Melanie Hart, Donald Trump, Jude Blanchette, Michael Martina, David Brunnstrom, Trevor Hunnicutt, Laurie Chen, Michelle Nichols, Josie Kao Organizations: REUTERS, Rights, San, Economic Cooperation, U.S, APEC, Stanford University China, Biden, Beijing, Washington's Center, Strategic, International Studies, China, Protesters, White, Treasury, Washington, People's, State Department, Pew Research, Prosperity, CSIS, Thomson Locations: Bali , Indonesia, San Francisco, Asia, Bali, Beijing, China, China . U.S, Washington, Taiwan, South China, Vietnam, Philippines, Canada, Mexico, U.S, People's Republic of China

☆ A handful of PMs have exited $20 billion Balyasny following departure of global equities head
▼ + stars: | 2023-11-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: 1 min

Four stock-picking PMs have recently left Balyasny Asset Management. The departures follow the exit of global equities chief Jeffrey Runnfeldt in October. Balyasny is up 2.8% this year, lagging most of its peers. A handful of long-short equities portfolio managers have departed $20 billion Balyasny Asset Management, which parted ways with its global equities chief in October. Four stock-pickers have recently left the fund, according to people familiar with the matter, including TMT investor Rob Bevegni, consumer PMs Jeff Russel and Matthew Gardner, and healthcare PM Chris Kuehnle.

Persons: Jeffrey Runnfeldt, Balyasny, Rob Bevegni, Jeff Russel, Matthew Gardner, Chris Kuehnle Organizations: Asset Management, Management

Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday of seven charges of fraud and conspiracy after a monthlong trial that laid bare the rampant hubris and risk-taking across the crypto industry. Mr. Bankman-Fried became a symbol of crypto’s excesses last year when FTX collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending. A jury of nine women and three men took more than four hours of deliberation on Thursday to reach a verdict, convicting Mr. Bankman-Fried of wire fraud and conspiracy. Together the counts carry a maximum sentence of 110 years. Mr. Bankman-Fried, 31, is expected to appeal.

Persons: Sam Bankman, Fried, FTX, convicting Mr, He’s

The witnesses painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified.

Persons: Sam Bankman, Fried, Bankman, Caroline Ellison —, Adam Yedidia, Mr, Yedidia, FTX, ” Caroline Ellison Ms, Ellison, Ms, Gary Wang Mr, Wang, ”, coder, Nishad Singh Mr, Singh, Gabe, Gabe Bankman, ” Mr, Prosecutors, Barbara Fried, Nishad Singh, Sun, ’ Organizations: Alameda Research, Massachusetts Institute of Technology, Stanford, Mr, Prosecutors, America Locations: Bahamas, Alameda, Binance, Pandemics

Sam Bankman Fried, the onetime cryptocurrency mogul, built his FTX crypto exchange into a “pyramid of deceit” resting on a “foundation of lies and false promises,” a federal prosecutor said in closing arguments on Wednesday at the criminal fraud trial. Over more than two hours in a Manhattan courtroom in the morning, Nicolas Roos, the prosecutor, used scathing language to paint Mr. Bankman-Fried as a liar and fraudster. And Mr. Bankman-Fried, who had testified during the trial in his own defense, had repeatedly dissembled and dodged questions, Mr. Roos said. Mr. Bankman-Fried “lied about big things and small things,” the prosecutor said, pointing out that the defendant said he “couldn’t recall” more than 140 times in response to questions on cross-examination. “It was uncomfortable to hear,” Mr. Roos said.

Persons: Sam Bankman Fried, ”, Nicolas Roos, Roos, dissembled, Fried “, “, Mr, Bankman Organizations: Mr Locations: Manhattan

The 31-year-old onetime crypto mogul fumbled for an answer when the prosecutor, Danielle Sassoon, repeatedly asked whether he had told his employees not to spend FTX customer money on investments, pricey real estate and other expenditures. Mr. Bankman-Fried also couldn’t name any employees who might have authorized the use of FTX customer money for that spending. “I don’t recall giving any direction,” Mr. Bankman-Fried said three times about the spending of FTX customer money before he concluded his testimony. Both sides rested their case before lunchtime on Tuesday, with closing statements set to unfold on Wednesday. Mr. Bankman-Fried was on the stand for a third day testifying before a jury in his own defense for a trial that has come to symbolize the highs and lows of the volatile crypto industry.

Persons: Sam Bankman, Danielle Sassoon, Fried, ” Mr Organizations: Alameda Research Locations: Alameda

“I’m not sure,” he responded over and over, as Ms. Sassoon asked about statements he had made when he was chief executive of FTX. Ms. Sassoon displayed statements that appeared to show Mr. Bankman-Fried saying one thing in public, then acting differently in private. Criminal defendants usually avoid testifying so that prosecutors don’t have a chance to question them. In December, federal prosecutors charged Mr. Bankman-Fried with orchestrating a sweeping scheme to steal as much as $10 billion from FTX’s customers. Mr. Bankman-Fried was also accused of creating a secret backdoor in FTX’s code that allowed Alameda to seize billions of dollars in customer funds.

Persons: “ I’m, ”, Sassoon, Bankman, Elizabeth Holmes, don’t, FTX, Fried Locations: Washington, Bahamas, Alameda

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

From the moment his cryptocurrency empire collapsed in November, Sam Bankman-Fried didn’t stop talking. Against the advice of his defense lawyers, Mr. Bankman-Fried embarked on a lengthy press tour to explain the failure of his FTX cryptocurrency exchange, giving interviews to TV anchors and obscure Twitter personalities. On Friday, Mr. Bankman-Fried, 31, made an even riskier call: He took the stand to testify at his criminal fraud trial in federal court in New York. But he also acknowledged that he had made missteps, citing “significant oversights” that hurt FTX customers. Wearing a gray suit and purple tie, his famously tousled hair cut short by a fellow inmate at the Brooklyn jail where he is detained, Mr. Bankman-Fried said he “made a number of small mistakes, and a number of larger mistakes.”

Persons: Sam Bankman, Fried, “ Organizations: Brooklyn Locations: New York

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

The wait for Sam Bankman-Fried’s testimony will be a little longer. Judge Lewis A. Kaplan, who is overseeing the disgraced crypto mogul’s federal criminal trial, sent jurors home on Thursday afternoon just before Mr. Bankman-Fried was expected to take the stand. Judge Kaplan opted instead for a hearing to discuss pending testimony from Mr. Bankman-Fried, who founded the FTX cryptocurrency exchange, with regard to his reliance on company lawyers in making decisions. The jury will return on Friday, when Mr. Bankman-Fried is expected to testify. Mr. Bankman-Fried, 31, has pleaded not guilty to seven counts of fraud, conspiracy and money laundering.

Persons: Sam Bankman, Judge Lewis A, Kaplan, Fried, Judge Kaplan, FTX

Over the past three weeks, former employees and friends of Sam Bankman-Fried have testified that he orchestrated a scheme to misappropriate billions of dollars in customer money from his FTX cryptocurrency exchange, which collapsed last year. The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. They said the FTX founder had known for months that the exchange had no way of paying back at least $8 billion in customer money that was used to buy lavish real estate, invest in other crypto companies, make campaign contributions and pay back lenders to a trading firm that Mr. Bankman-Fried also controlled. Here are highlights of the testimony from several prosecution witnesses — including Mr. Bankman-Fried’s employee and on-again, off-again girlfriend, Caroline Ellison — who have been central to the case:Adam YedidiaThe first prosecution witness was Adam Yedidia, a former FTX developer who was a close friend of Mr. Bankman-Fried’s and lived with him and other associates in the Bahamas. Mr. Yedidia, who has not been charged with any crimes and testified under immunity, said Mr. Bankman-Fried had known that FTX and Alameda Research, a sister crypto trading firm, were on thin ice.

Persons: Sam Bankman, Fried, Bankman, Caroline Ellison —, Adam Yedidia, Mr, Yedidia Organizations: Alameda Research Locations: Bahamas

On the second day of Sam Bankman-Fried’s fraud trial this month, one of the lawyers for the cryptocurrency mogul delivered an emphatic message to the jury. He lied repeatedly, they said, running roughshod over his top lieutenants and directing them to treat customer deposits as if FTX were a piggy bank. The testimony has dealt a blow to Mr. Bankman-Fried’s “good faith” defense, which will be put to the test this week. At a hearing on Wednesday, Mark Cohen, a defense lawyer, confirmed that Mr. Bankman-Fried, 31, would take the stand. But given the prosecution’s success in building its case, legal experts said, it was all but inevitable that Mr. Bankman-Fried would want to tell the jury his side of the story.

Persons: Sam Bankman, FTX, Bankman, Mark Cohen Locations: Manhattan

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, is planning to testify at his criminal fraud trial in Manhattan, his lawyer said on Wednesday. Mr. Bankman-Fried, 31, is likely to begin testifying on Thursday, after federal prosecutors call their final witness in the morning. “Our client is going to be testifying,” Mr. Cohen said at the hearing. Mr. Bankman-Fried is charged with orchestrating a sweeping scheme to steal as much as $10 billion in deposits from customers of FTX. Mr. Bankman-Fried has pleaded not guilty to seven charges of fraud, conspiracy and money laundering.

Persons: Sam Bankman, Mark Cohen, Bankman, ” Mr, Cohen, Fried Organizations: Prosecutors Locations: Manhattan, FTX

WASHINGTON (AP) — A powerful Haitian gang leader has been charged by U.S. prosecutors with ordering the kidnapping of an American couple from their home in Haiti that left the woman dead, authorities said Tuesday. Armed gang members stormed their home, and Marie Franklin was shot and killed in the kidnapping. The latest indictment charges Innocent with conspiracy to commit hostage taking resulting in death, aiding and abetting hostage taking and attempted hostage taking resulting in death by the U.S. Justice Department. Among those recently kidnapped is the secretary general of Haiti’s High Transitional Council, which is charged with organizing long-awaited general elections. Authorities said gang members dressed as police officers abducted Anthony Virginie Saint-Pierre last week.

Persons: Vitel’homme Innocent —, Haiti —, Jean Franklin, Marie Odette Franklin, Marie Franklin, Jean, Innocent, “, ”, District of Columbia Matthew Graves, Graves, Anthony Virginie Saint, Pierre, Danica Coto Organizations: WASHINGTON, Authorities, Attorney, District of Columbia, Christian, U.S . Justice, United Nations, Transitional Council, Associated Locations: Haitian, Haiti, Tabarre, Port, Washington, San Juan , Puerto Rico

☆ Bladder cancer studies suggest new ways to treat the disease and improve survival
▼ + stars: | 2023-10-22 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +9 min

This is one of several new studies exploring ways to improve how bladder cancer is treated. “Ever since I was in med school, a metastatic bladder cancer treatment was gemcitabine and platinum. Urothelial cancer is a type of bladder cancer that begins in the urothelial cells, which line the inside of the bladder. The drug became the first therapy targeting a genetic alteration to be approved by the FDA to treat patients with the most common type of bladder cancer, metastatic urothelial cancer. “These results support nivolumab plus cisplatin-based chemo as a new standard approach for the treatment of metastatic urothelial cancer.”

Persons: vedotin, hadn’t, ”, Thomas Powles, ” Powles, we’ve, —, Powles, Toni Choueiri, Dana, “, enfortumab, ” Choueiri, drugmaker Janssen, Dr, Sanjay Gupta, nivolumab, Matthew Galsky Organizations: CNN, Society for Medical Oncology, University of London, Barts Cancer, US, Inc, Astellas Pharma, Merck, Co, Food and Drug Administration, FDA, EMA, Lank, Genitourinary Oncology, Farber Cancer Institute, ESMO, New England, of Medicine, University of Texas, Anderson Cancer Center, US Food and Drug Administration, National Library of Medicine, CNN Health, Bristol Myers Squibb, Ono Pharmaceutical Company, Cancer, The Tisch Cancer Institute Locations: Madrid, United Kingdom, United States, Europe, Mount Sinai

☆ The housing market was already painful, ugly and anxious. Now the 8% mortgage rate is back
▼ + stars: | 2023-10-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

watch nowToday's housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it's scaring off buyers and sellers alike. Now the popular 30-year fixed mortgage rate is at 8%, the highest in decades, making things even tougher. The result was record-low mortgage rates for two solid years. That, ironically, made the housing market even more expensive. They have little desire to trade the 3% rate they currently have for an 8% mortgage rate on a new purchase.

Persons: Matthew Graham, MND's Graham, He's, Lisa Resch, What's, Lawrence Yun, Yun Organizations: Mortgage News, Federal Reserve, National Association of Realtors, Compass, Washington , D.C, NAR, Buyers Locations: Washington ,, Florida, Tampa, Jacksonville, Orlando, Houston , Texas, Memphis , Tennessee, homebuilders, Horton

☆ Tight housing supply means crash is unlikely, says Mortgage News Daily's Matthew Graham
▼ + stars: | 2023-10-19 | 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 EmailTight housing supply means crash is unlikely, says Mortgage News Daily's Matthew GrahamMatthew Graham, chief operating officer at Mortgage News Daily, joins 'The Exchange' to discuss a mix of hawkish and dovish commentary coming from the Fed, tightness in home supply stalling a housing value crash, and the risk homebuilder mortgage rate writedowns could have on the overall housing market.

Persons: Matthew Graham Matthew Graham Organizations: Mortgage News

☆ The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar
▼ + stars: | 2023-10-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The average rate on the popular 30-year fixed mortgage rate hit 8% Wednesday morning, according to Mortgage News Daily. Mortgage rates follow loosely the yield on the 10-year U.S. Treasury . Rates rose sharply this week and last week, as investors digest more reads on the economy. On Wednesday, it was housing starts, which rose in September, though not as much as expected, according to the U.S. Census Bureau. These higher rates have caused mortgage demand to plummet, as applications fell nearly 7% last week from the previous week, according to the Mortgage Bankers Association.

Persons: Matthew Graham, Horton Organizations: Mortgage News, Treasury, . Census, Federal, Mortgage, Association, CNBC

☆ Even the experts who study Congress don't know how this House speakership drama will end
▼ + stars: | 2023-10-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

House Republicans ended Friday without naming a new House speaker. Congress is historically motivated by deadlines, but there's nothing forcing House Republicans to move forward. Some more centrist House Republicans have floated cutting a deal with Democrats, but this is still very unlikely. We do know that a new speaker must be elected by a full House vote. AdvertisementAdvertisement"At this point, the acting Speaker pro temp is not the leader of his party," Green said.

Persons: Jim Jordan of, it's, here's, —, Kevin McCarthy's, They've, Pro Tempore Patrick McHenry, Jim Jordan, Sarah Binder, J, Scott Applewhite, Jordan, Austin Scott, hasn't, Mike Collins, McHenry, He's, Nancy Pelosi, Steny Hoyer, Matthew Green, Green, Patrick McHenry, McCarthy, couldn't, Jim McGovern, tempore, Binder Organizations: Service, Pro Tempore, Lawmakers, Republicans, Government, Brookings Institution, Republican, Georgia Republican, Democratic, House Republicans, —, Capitol, North Carolina Republican, Financial Services, Politico, Catholic University, Republican Party, House Democrat Locations: Jim Jordan of Ohio, Ohio, Georgia, Jordan, meer, McHenry, Iran

☆ How 1880s technology made it possible for 2 women to travel around the world in under 80 days
▼ + stars: | 2023-10-07 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +19 min

In 1889, journalist Nellie Bly set off on a trip around the world, trying to make it under 80 days. "You see a huge emphasis being placed on building ships that were ever faster than the previous generation of ships," Goodman said. Once aboard the train, Bly began to receive telegrams from her editors and well-wishers. "Sometimes it literally literally just says, 'Nelly Bly's train,'" Behn said. For Behn, what Bly and Bisland did remains incredible and deserve to be remembered as much as Verne's story.

Persons: Nellie Bly, Elizabeth Bisland, —, Jules Verne's, Bly, Bisland, Adrien Behn, Matthew Goodman, Elizabeth Bisland's, Victoria, Augusta Victoria, Henry Guttmann, seasickness, Behn, San Francisco —, Bettmann, Goodman, John Mix Stanley, Said, Getty Images Bly, they'd, Alfred Touchemolin's, voyaged, She'd, James Buchanan, Joseph Pulitzer's, Nelly Bly's, Jules Verne, Thomas Cook, Fogg, Nelly, she'd Organizations: Service, Cosmopolitan, Atlantic, Hulton, Western, Central Pacific, Union Pacific, Union Pacific's Overland, Rockies, Railroad, US, Ships, Suez, Getty Images, Workers, SSPL, Headquarters, Thomas Cook &, Companies Locations: London, New Jersey, New York, California, Blackwell's, of, New York Harbor, Chicago, Omaha, Utah, San, Salt, Union, Iowa, San Francisco, Midwest, Between Nebraska, Sacramento , California, Sierra Nevada, Lake Jessie , North Dakota, Washington ,, Philadelphia, Suez, Europe, Asia, Africa, Britain, India, Port Said, Egypt, Yemen, commonwealths, British, Aden, Colombo, Penang, Hong Kong, Singapore, Ceylon, Yokohama, France, Germany, America, South China, Nevada, Russian Empire, East, North America, London's, Italy, Ireland, United States, Japan, China

☆ Home affordability initiatives need to come at the fiscal level, says MBS Lives' Matthew Graham
▼ + stars: | 2023-10-06 | 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 EmailHome affordability initiatives need to come at the fiscal level, says MBS Lives' Matthew GrahamMatthew Graham, chief operating officer at Mortgage News Daily, and CNBC's Diana Olick join 'The Exchange' to discuss mortgage rates correlating with the ten-year and pricing off mortgage-backed securities, mortgage rates hitting a 23-year high, and initiatives that could help home affordability without manipulating the broader financial market.

Persons: Matthew Graham Matthew Graham, Diana Olick Organizations: Mortgage News Daily

☆ Mortgage rate races toward 8% after hitting a high not seen since late 2000
▼ + stars: | 2023-10-03 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The average rate on the popular 30-year fixed mortgage rose to 7.72% on Tuesday, according to Mortgage News Daily. Mortgage rates follow loosely the yield on the 10-year Treasury , which has been climbing this week following strong economic data. Rates have not been this high since the end of 2000. At the beginning of this year, the 30-year fixed rate dropped to about 6%, causing a brief burst of activity in the spring housing market. While builders had been benefiting from the tight supply of existing homes for sale, higher mortgage rates are a major concern now.

Persons: Matthew Graham Organizations: Mortgage News Daily ., Treasury, Federal Reserve, Investors, Mortgage News

Trump on Monday shared a photo of the judge's clerk online and ranted about her to reporters. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementJustice Arthur Engoron at Donald Trump's New York trial on Tuesday issued a harsh warning after the former president repeatedly attacked his clerk on social media and during a press conference. Trump posed to Truth Social, a photo of Engoron's law clerk, who was standing next to Senate Majority Leader Chuck Schumer. Trump also ranted about the clerk during a press conference directly outside Engoron's courtroom door on Monday.

Persons: Arthur Engoron, Trump, Engoron, —, Donald Trump's, Chuck Schumer, Matthew Galluzzo, Gonzalo Curiel Organizations: Service, Trump, Trump University Locations: York, New York City, Manhattan

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