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Brent crude futures extended gains on Monday, inching up amid political uncertainty in major producing countries after Iran's president died in a helicopter crash and the Saudi crown prince cancelled a Japan trip, citing health issues with the king. Brent gained 10 cents, or 0.1%, to $84.08 a barrel by 0454GMT, after rising to $84.30 earlier, its highest since May 10. He added that WTI prices may rebound further toward $83.50 after rising above the 200-day moving average of $80.02. Despite the volatility in the region, oil prices moved only slightly. "Continuity in Saudi strategy is expected regardless of this health issue," he added.
Persons: Brent, Ebrahim Raisi, Saudi Arabian Crown Prince Mohammed bin Salman, King Salman, Yoshimasa Hayashi, Tony Sycamore, Sycamore, Warren Patterson, Patterson, Saul Kavonic, Prince Mohammed Bin Salman's Organizations: Brent, . West Texas, Saudi, Saudi Arabian Crown, Iranian, IG, ING, The, of, Petroleum, Petroleum Reserve Locations: Fort Stockton , Texas, Saudi, Japan, East Azerbaijan, Saudi Arabian, China, U.S, United States, Washington
Taiwan's new President Lai Ching-te has been sworn in
  + stars: | 2024-05-20 | 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 EmailTaiwan's new President Lai Ching-te has been sworn inTaiwan's new president Lai Ching-te was sworn into office on Monday, after serving as Tsai Ing-wen's vice president for the last four years. All eyes are on his inaugural speech. CNBC's Emily Tan reports from Taipei.
Persons: Lai Ching, te, Tsai Ing, Emily Tan Locations: Taipei
A giant screen with a live feed shows Taiwan's President Lai Ching-te delivering his inaugural speech after being sworn into office during the inauguration ceremony at the Presidential Office Building in Taipei on May 20, 2024. Lai takes over from his predecessor Tsai Ing-wen after securing a victory in January's election that ushered in an unprecedented third presidential term for the Democratic Progressive Party. Together with Lai, Hsiao Bi-khim, 52, a former de facto Taiwan ambassador to the United States, was also sworn in as vice president. Lai is widely expected to reaffirm the status quo in cross-strait relations with China. He earlier pledged commitment to Tsai's foreign and defense policies of strengthening the island's ties with the United States and its allies as well as boosting defense capabilities.
Persons: Lai Ching, Yasuyoshi CHIBA, YASUYOSHI CHIBA, Lai, Tsai Ing, Hsiao Organizations: Presidential, Getty, Democratic Progressive Party Locations: Taipei, AFP, China, Taiwan, United States
Lai, 64, a former doctor, was inaugurated alongside new Vice President Hsiao Bi-khim, who recently served as Taiwan’s top envoy to the United States. Both leaders and their party are openly loathed by Beijing for championing Taiwan’s sovereignty. Lai takes up the mantle from DPP predecessor Tsai Ing-wen, who bolstered the island’s international standing and recognition during her eight years in office. He is also expected to project goodwill to China with a message of pursuing peace and prosperity across the Taiwan Strait. That deliberately nuanced stance mimics his outgoing predecessor Tsai, Taiwan’s first female president, who was unable to stand again because of term limits.
Persons: Taipei CNN — Lai Ching, te, Lai, Hsiao Bi, China’s, Tsai Ing, Tsai –, , Xi Jinping, Tsai, Taiwan’s, rebuking Organizations: Taipei CNN, Democratic Progressive Party, Communist Party, CNN, Kuomintang, KMT, Taiwan People’s Party, DPP, Locations: Taipei, China, United States, Beijing, Taiwan
Various labor market indicators are also showing growing weakness in the economy, he said. Societe GeneraleNational Federation of Independent Business data shows further labor market weakness is likely to come, as small business hiring plans continue to fall. Both stats would suggest a rising unemployment rate going forward. In the meantime, the labor market has consistently proven resilient despite high interest rates, and stocks have enjoyed an eye-popping rally to new highs. Some also argue that labor market data points like the rising unemployment rate have to be shown with context.
Persons: , Albert Edwards, didn't, Edwards, aren't, we'll, Societe Generale Edwards, Bob Elliott, groupthink Edwards, Alan Greenspan Organizations: Service, Societe Generale, Wall, Business, Societe Generale National Federation of Independent Business, ING, Generale, Unlimited Partners, Bridgewater Associates, of Labor Statistics, Tech
While supporters applaud Tsai for standing up to China, defending Taiwan’s sovereignty, freedom and democracy, critics blame her for straining ties with Beijing, stoking cross-strait tensions. Beijing, which deems the tacit agreement a precondition for dialogue, has cut official contact with Taipei since Tsai took office. Taiwan President Tsai inspects reservists at a training session at a military base in Taoyuan on May 11, 2023. But under Tsai, Taiwan has sought to enhance its asymmetric defense capabilities, developing and procuring cheaper and more mobile weapon systems that could be instrumental in halting a potential Chinese invasion. Taiwanese military experts have increasingly advocated for such an approach, noting that Taiwan can never match China in military might and assets.
Persons: Taipei CNN — Tsai Ing, introvert, ” Tsai, Xi Jinping, Xi, Tsai, stoking, Taiwan’s, Lai Ching, , Alex Chan Tsz Yuk, Wellington Koo, , Vanessa Hope, Ma Ying, Taiwan's, Jose Lopes Amaral, Wen, Amanda Hsiao, Nancy Pelosi, Chien Chih, Nancy Pelosi’s, Huang, Jameson Wu, ” Sung, ” Hsiao, “ Tsai, Sawayasu Tsuji, Sung, ” Tsai’s, , Lai Organizations: Taipei CNN, Democratic Progressive Party, DPP, Kuomintang, KMT, World Health Organization, WHO, Atlantic, Trump, Biden, International Crisis, US, Getty, World Health Assembly, National Chengchi University, Getty Images, Taiwan’s Military Academy, ” Tsai’s DPP Locations: Taipei, Taiwan, China, United States, Beijing, Tsai, Asia, Wellington, Ukraine, Gaza, Japan, Czech Republic, Republic of China, Taoyuan, AFP, Washington, Hong Kong
BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the National Bureau of Statistics said. That was less than the 3.8% increase forecast by a Reuters poll, and slower than the 3.1% pace reported in March. But fixed asset investment rose by 4.2% for the first four months of the year, lower than the 4.6% expected increase. Statistics bureau spokeswoman Liu Aihua pointed out that last year, the multi-day May 1 Labor Day holiday had included two days in April.
Persons: Liu Aihua, Liu Organizations: National Bureau of Statistics, China's Ministry of Commerce, Labor, Statistics, Oxford Locations: Huai'an, China, BEIJING — China
Unprofitable bitcoin miners are starting to exit the network after the halving , as expected. But much of their performance relies on bitcoin's price, which still faces several near-term headwinds, according to JPMorgan. However, "we do not see upside for bitcoin prices in the current juncture and if anything we see headwinds over the near term," he added. That was expected to happen after the halving in April, which slashed a key revenue source for bitcoin miners. "The more bitcoin prices decline the higher the number of unprofitable miners that come under pressure to leave the bitcoin network and the larger the result[ing] decline in the hash rate and bitcoin production cost."
Persons: JPMorgan's Nikolaos Panigirtzoglou, Bitcoin, it's overbought, There's, Kong's, there's, Panigirtzoglou Organizations: JPMorgan, Venture, Miners
The index has rallied nearly 30% from its January low, having entered a bull market earlier this month. Longfor Group, the ninth largest homebuilder in China, surged 11%, becoming the top performing stock on the Hang Seng Index. “We think this is a largely symbolic move to show support for the sector with a ‘national team’ for the housing market,” said Citi analysts. “We are cautiously optimistic about the ‘government-led buying on unsold units’ as it’s still being rolled out in more cities, “ said Jeff Zhang, an equity analyst at Morningstar. Nasdaq Golden China Index, which tracks Chinese companies listed on Wall Street, has gained 11% since the start of April.
Persons: , , Jeff Zhang Organizations: Hong Kong CNN, Longfor, China Holdings, National Development, Reform Commission, , Citi, ING Group, Morningstar, homebuyers, Communist Party, Nasdaq Locations: China, Hong Kong, Beijing, Hangzhou, Xi’an, Chengdu, Shanghai
Taipei, Taiwan CNN —Taiwanese drag queen Nymphia Wind gave a riotous performance at Taiwan’s presidential office on Wednesday, celebrating her win on “RuPaul’s Drag Race” last month. Taiwanese drag queen Nymphia Wind shakes hands with Taiwan's outgoing leader Tsai Ing-wen. Taiwanese drag queen Nymphia Wind performs on May 15, 2024. Nymphia Wind attends "RuPaul's Drag Race" Season 16 finale screening at The Edge at Hudson Yards. Nymphia Wind and Jimbo onstage at the "RuPaul's Drag Race" season 16 finale screening event on April 19, 2024 in New York City.
Persons: Nymphia, Tsai Ing, Gaga’s “, Huang Fei’s “ Chase, Chase, , ” Nymphia, Tsai, Wang Yu Ching, Xi Jinping, Lai Ching, Taiwan’s, popstar, , Sun, Sun Yat Sen, Santiago Felipe, Leo Tsao, that’s, Jimbo, ” Tsai Organizations: Taiwan CNN, Communist Party, Democratic Progressive Party, DPP, Facebook, Weibo, Sun Yat, Hudson Yards, Reuters Locations: Taipei, Taiwan, ” Taiwan, Beijing, Taiwanese, Asia, China, Taiwan’s, East, Santiago, West, New York City
“Sounds like something I would say,” responded Cohen, Trump’s former lawyer and fixer. The question set the tone for the cross-examination of the Manhattan district attorney’s key witness in the hush money trial against the former president. For roughly two hours, Blanche began a cross-examination to try to discredit Cohen’s allegations against Trump. Blanche then asked whether Cohen called Trump a “Cheeto-dusted cartoon villain.”“That also sounds like something that I said,” Cohen said. “You were telling the truth, correct?” Blanche asked in regards to the compliments Cohen gave Trump.
Persons: Donald Trump’s, Todd Blanche, Michael Cohen, Blanche, Cohen, Cohen “, , Trump’s, Stormy Daniels, Trump, Daniels, Joshua Steinglass, Juan Merchan, ” Cohen, , Donald Trump, ’ ” Cohen, Trump Blanche, ” Blanche, Blanche . Trump, Robert Mueller’s, Jay Sekulow, , Susan Hoffinger, Florida Sen, Rick Scott, Sen, J.D, Vance of Ohio, Doug Burgum, Mike Johnson, Byron Donalds, Cory Mills, Vivek Ramaswamy, Johnson, Lara Trump, Eric Trump, ” Ramaswamy, ” Trump Organizations: CNN, Trump, Trump . Assistant, Trump –, Federal, Commission, FBI, Trump Organization, North Dakota Gov, Republican National Committee Locations: Manhattan, Russia, United States, New York, Florida, Louisiana
“It was Michael Cohen,” Davidson responded. Cohen is the only witness who will testify about Trump’s alleged involvement in both the decision to pay Daniels and the plan to reimburse Cohen for advancing the money. Prosecutors allege that during the February meeting, Trump and Cohen agreed how Cohen would be paid back. Arguably the most negative assessment of Cohen came from Davidson, who negotiated the hush money deal with Cohen on Daniels’ behalf in 2016. “There were times where Mr. Cohen did things that you felt were not helpful to what you were trying to accomplish, right?” Bove asked Trump’s 2016 campaign press secretary.
Persons: Michael Cohen, Donald Trump’s, Cohen, Stormy Daniels, David Pecker, Hope Hicks, , Daniels, Keith Davidson, Daniels ’, Gina Rodriguez –, “ Gina, Keith, ’ ” Davidson, , Joshua Steinglass, ” Davidson, Trump, Trump’s, Pecker, ” Steinglass, Todd Blanche, Elie Honig, Cohen’s, antagonizing Trump, Juan Merchan, Merchan, Cohen ’, Emil Bove, ” Pecker, Bove, Gary Farro, ” Farro, Davidson, ” Cohen, Christ, I’m, I’ve, ’ ”, Jeff McConney, ” McConney, Matthew Colangelo, Hicks, , ” Bove, ” Hicks Organizations: CNN, Trump, National Enquirer, American Media Inc, Prosecutors, Office, Daniels, Trump Organization Locations: Manhattan, Trump’s New York, Moscow, thedirty.com, Washington
Read previewThis as-told-to essay is based on a conversation with Hemant Pandey, a senior software engineer at Meta in California. Over the last seven years, I have interned at Amazon and worked full time at Tesla, SAP, Salesforce, and Meta. Over time, I have solidified an interview preparation strategy that has worked for me and one I share with juniors I mentor. This is what 24 hours before a Big Tech interview look like for me:AdvertisementRead up on past interview questionsI have found that Big Tech interviews largely follow a set pattern of processes. AdvertisementI keep the the last day light, because I don't want to be stressed during the interview or even the day before.
Persons: , Hemant Pandey Organizations: Service, Meta, Business, Amazon, SAP, LinkedIn, Big Tech, Google Locations: California
According to the business chamber's survey, just 13% view China as a top investment destination — a record low. EU firms' China operations are 'decoupling' from their headquartersIt's not just the gloomy economy and slowing demand that are weighing on investor confidence. EU firms have also started to "decouple" their operations in China as the number of foreign nationals employed locally falls. It also makes it increasingly difficult for the China operations of the EU firms to get approval from their headquarters. The European business chamber called for "full access to legitimate and trustworthy sources of economic data" in its report.
Persons: , Xi Jinping, It's, Jens Eskelund Organizations: Service, European Union Chamber of Commerce, Business Locations: Europe, France, Serbia, Hungary, China
Photo: Christoph Soeder/dpa (Photo by Christoph Soeder/picture alliance via Getty Images)After years of China being Germany's main trading partner, the U.S. looks like it's quietly taking that top spot as the year progresses. Several factors played a role in the change, Carsten Brzeski, global head of macro research at ING Research, told CNBC. […] At the same time, decoupling from China, weaker domestic demand in China and China being able to produce goods it previously imported from Germany (mainly cars) reduced German exports to China," he said. China has been Germany's biggest trading partner for years, but the gap between China and the U.S. narrowed in recent years. The U.S. has also long been a bigger market for German exports than China, Holger Schmieding, chief economist at Berenberg Bank, told CNBC.
Persons: Habeck, Christoph Soeder, it's, Carsten Brzeski, Holger Schmieding, China's, Schmieding Organizations: German, Getty, U.S, CNBC, Reuters, ING Research, Berenberg Bank Locations: Germany, China, U.S
Like other coral reefs, over the last few decades, this vibrant ecosystem has been suffering from the effects of climate change, with the National Oceanic and Atmospheric Administration recently reporting a fourth global mass bleaching event – the second in the last decade. Bleaching happens when the corals become stressed due to changes in their environment and expel the colorful algae living on them. University of MiamiIn partnership with the city of Miami Beach, two hybrid reefs were deployed in March 2023. Coral gardeningLirman’s team has been growing and testing coral colonies at the university for more than 15 years. A global problemOcean ecosystems are declining and suffering around the world, Lirman says.
Persons: , Diego Lirman, Lirman, ” Lirman, , Emily Esplandiu, they’ve, “ We’re Organizations: CNN, Miami, National Oceanic, Atmospheric Administration, University of Miami, North Miami Beach, International Maritime Organization, Miami Beach, Dade, US Department of Defense Locations: Miami Beach , Florida, North Miami, Miami Beach, Miami
Pamela Anderson broke her no-makeup streak at the 2024 Met Gala. AdvertisementAfter a slew of bare-faced public appearances, Pamela Anderson finally ditched the no-makeup look for her Met Gala debut. Pamela Anderson ditched her no-makeup look for her first Met Gala appearance. And since then, I just felt, without Alexis, it's just better for me not to wear makeup," Anderson said. Reflecting on her Met Gala debut, Anderson told the Times that it "means a lot" to her that she was invited.
Persons: Pamela Anderson, Oscar, la, Pat McGrath, Anna Wintour's, Anderson, , Cindy Ord, MG24, McGrath, Theo Wargo, smokey, Elle, Alexis Vogel, Alexis, it's, Noel Stewart headpiece, Marleen Moise, Noel Stewart —, Anna Wintour Organizations: Service, British Vogue, New York Times, Times, Met
Oil nudges higher after Saudi Arabia hikes prices
  + stars: | 2024-05-06 | by ( ) www.cnbc.com   time to read: +2 min
Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region. Brent crude futures climbed 28 cents, or 0.3%, to $83.24 a barrel at 0119 GMT, while U.S. West Texas Intermediate crude futures were at $78.40 a barrel, up 29 cents, or 0.4%. Saudi Arabia raised the official selling prices, or OSPs, for its crude sold to Asia, Northwest Europe and the Mediterranean in June, signaling expectations of strong demand this summer. This comes after Saudi Arabia raised June OSPs for most regions amid a tightening of supplies this quarter, he added. The geopolitical risk premium in oil prices has also eased as talks for a Gaza ceasefire are underway.
Persons: ICE Brent, Warren Patterson, OSPs, Brent, Benjamin Netanyahu, Baker Hughes Organizations: Brent, U.S, West Texas, ICE Locations: Saudi Arabia, Gaza, Israel, Asia, Northwest Europe
Jack Dorsey was very active on X this weekend. During a posting frenzy, he announced that he has left the Bluesky board. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Jack Dorsey, Dorsey, , Kendrick Lamar, Drake, Kenny, Julian Assange's, Stella Assange, Edward Snowden, Elon Musk, Bluesky, Drake's Organizations: Service, he's, Business
China's and Australia's flags are seen on the tables where China's Foreign Minister Wang Yi and Australia's Foreign Minister Penny Wong held their bilateral meeting at Parliament House in Canberra on March 20, 2024. Asia-Pacific markets tracked Wall Street gains on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia's rate decision on Tuesday and China's April trade data on Thursday. ING said in a note last week that the RBA meeting was "worth watching closely," adding that recent inflation data from Australia showed growth in prices was starting to accelerate. However, the analysts said Australia's inflation data was better than they had expected, and compared to the US, the country's economy had slowed more with the labor market softening substantially.
Persons: Wang Yi, Penny Wong Organizations: House, Wall, Federal Reserve, Investors, Reserve Bank, ING, Global Locations: Canberra, Asia, Pacific, Australia, Hong Kong, China, India, Japan, South
Washington CNN —Former President Donald Trump continues to make false claims about his New York trial. Here’s a fact check of four false claims and one misleading claim he made about the trial in his courthouse comments last week. Judge Juan Merchan’s gag order, which narrowly restricts his out-of-court speech, does not in any way stop him from testifying. The gag order also does not broadly prevent Trump from talking. Trump’s campaign scheduleTrump continued Friday to complain that the New York trial is preventing him from being on the campaign trail.
Persons: Donald Trump, Trump, , “ I’m, who’s, , he’s, I’m, Judge Juan Merchan’s, Joe Biden, Merchan, Rather, Attorney Alvin Bragg, Bragg, it’s, , ’ Trump, ’ ” Trump, , you’re, ” Trump, ” Merchan, Defendant, Biden, It’s, Matthew Colangelo, Colangelo, CNN’s Kristen Holmes Organizations: Washington CNN, New, Trump, Manhattan, Attorney, , Republican, Miami, Prix, Georgia, Biden, Justice Department Locations: New York, Manhattan, Michigan, York, Fulton County , Georgia, Washington , DC, Florida, Georgia, Ohio, Wisconsin, North Carolina, Bedminster , New Jersey, York’s
Jerry Seinfeld Can No Longer Be About Nothing
  + stars: | 2024-05-04 | by ( Matt Flegenheimer | Marc Tracy | ) www.nytimes.com   time to read: +1 min
Jerry Seinfeld became a mic-cradling, cereal-eating, “did-you-ever-notice”-ing avatar of American Jewish life with a brazenly shrugging persona: a merry indifference to weighty material as a comedian and in his megahit TV show about nothing, as petty and apolitical as he seemed to be. Now — off-camera, at least — Mr. Seinfeld appears to have reached his post-nothing period. Since the attacks of Oct. 7 in Israel, and through their bloody and volatile aftermath in Gaza, Mr. Seinfeld, 70, has emerged as a strikingly public voice against antisemitism and in support of Jews in Israel and the United States, edging warily toward a more forward-facing advocacy role than he ever seemed to seek across his decades of fame. He has shared reflections about life on a kibbutz in his teens, and in December traveled to Tel Aviv to meet with hostages’ families, soberly recounting afterward the missile attack that greeted him during the trip. He has participated, to a point, in the kind of celebrity activism with which few associate him — letter-signing campaigns, earnest messages on social media — answering simply recently when asked about the motivation for his visit to Israel: “I’m Jewish.”
Persons: Jerry Seinfeld, , Seinfeld, Locations: Israel, Gaza, United States, Tel Aviv
“The communication satellite is very important for our communication resilience during urgent periods,” Wu said, calling it his agency’s most sensitive project. Taiwanese authorities previously announced the space agency would develop two communication satellites, the first of which could be launched by 2026. Wu Jong-shinn, director general of the Taiwan Space Agency, speaks to CNN on March 5, 2024 in Hsinchu, Taiwan. In the future, Taiwan’s satellite system could replace third-party deals, but Wu, the space agency director, declined to provide more specific details about the project’s timeline. A rocket model in development at the Taiwan Space Agency on March 5, 2024 in Hsinchu, Taiwan.
Persons: Taiwan CNN —, Wu Jong, shinn, Elon, Wu, ” Wu, ” Starlink, Heidi Levine, John Mees, CNN Brad Tucker, you’re, , Su, yun, OneWeb, Sam Yeh, Lai Ching, Tsai Ing, Taiwan’s, , CNN’s Will Ripley Organizations: Taiwan CNN, Taiwan Space Agency, CNN, Musk’s SpaceX, SpaceX, Ukrainian, The Washington Post, Communist Party, Institute for National Defense and Security Research, Australian National University, Taiwan’s Institute for National Defense and Security Research, Getty, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Triton Locations: Hsinchu, Taiwan, China, Gaza, Beijing, London, Xiamen, Taiwan's, AFP, Guiana, South America
Banks jumped 0.8%, while oil and gas stocks retreated 1%. European stocks opened mixed on Thursday as global markets react to the U.S. Federal Reserve's latest monetary policy decision and a slew of corporate earnings. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank's next move will be a rate hike. Asia-Pacific markets were mostly higher overnight as traders reacted to the Fed's stance, while U.S. stock futures advanced as investors looked ahead to more corporate earnings due Thursday. Dutch bank ING was 5% higher in early deals after announcing a 2.5 billion euro ($2.7 billion) share buyback.
Persons: Banks, Jerome Powell, It's, Vestas, Hugo Boss Organizations: U.S, U.S . Federal, Dow, region's, Novo Nordisk, Shell, ING, AXA, ArcelorMittal Locations: London, U.S ., Asia, Pacific, Europe
ING: We are comfortable regardless of interest rate environment
  + stars: | 2024-05-02 | 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 EmailING: We are comfortable regardless of interest rate environmentTanate Phutrakul, CFO of ING, says a banking union is necessary for competitiveness in European banking.
Organizations: ING
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