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☆ What Trump and Harris’ economic proposals mean for you
▼ + stars: | 2024-09-10 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +9 min

Here’s a look at what could happen to inflation, jobs and the deficit if Trump or Harris win in November. That, among other things, would keep the top tax rate individuals pay at 37% compared to 39.6% before it went into effect. Meanwhile, the tax proposals Harris has put forth so far mostly involve imposing higher taxes, which would have a positive impact on the deficit. For instance, she’s endorsed raising the top individual income tax rate to 44.6% and the top long-term capital gains tax rate to 28% versus the current 20%. Taken together, the Penn Wharton Budget model estimates Harris’ proposals could increase the deficit by an additional $1.2 trillion by 2034.

Persons: Kamala Harris, Donald Trump, Harris, Goldman Sachs, Trump, Warwick McKibbin, Goldman, she’s, ”, Justin Wolfers, Kevin Dietsch, He’s, Elon Musk, She’s, Joshua Gotbaum Organizations: New, New York CNN, Labor Department, Trump, Peterson Institute for International Economics, Gross, University of Michigan, CNN, Federal Reserve, Treasury Department, Wharton Budget, Social Security, Penn, Wharton Budget Model, Penn Wharton Budget, Brookings Institution Locations: New York, United States, Penn

☆ JPMorgan Chase shares drop 7% after bank tempers guidance on interest income and expenses
▼ + stars: | 2024-09-10 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Daniel Pinto, president and chief operating officer of JPMorgan Chase, speaks during the Semafor 2024 World Economy Summit in Washington, DC, on April 18, 2024. JPMorgan Chase shares fell 7% Tuesday after the bank's president told analysts that expectations for net interest income and expenses in 2025 were too optimistic. "I think that that number will be lower," Pinto said. When interest rates decline, new loans made by the bank and new bonds it purchases will yield less. When it comes to trading, JPMorgan said it expects third-quarter revenue to be flat to up about 2% from a year ago, while investment banking fees are headed for a 15% jump.

Persons: Daniel Pinto, JPMorgan Chase, Pinto, Goldman Sachs Organizations: JPMorgan, Summit, JPMorgan Chase, Federal Reserve Locations: Washington ,, New York, NII

The report examined Americans who have identified as nonprofit workers on the Census' American Community Survey, including many employees in healthcare, educational services, and social assistance. Younger nonprofit workers are particularly struggling. According to the report, 37% of nonprofit workers under the age of 25 fall into the ALICE category. Similarly, 23% of nonprofit workers ages 25 to 44 are considered ALICEs. And, while 16% of white nonprofit workers were below the ALICE threshold, 35% of Black workers in the sector were struggling to make ends meet.

Persons: ALICE, Lisa Kelley, they're, It's, Cherie Tobias, Melissa Hedden Organizations: Service, United, Survey, Business, SNAP, Medicaid Locations: El Paso , Texas, Alexandria , Virginia, Cincinnati, Michigan

☆ Bank stock woes hold back the overall market, but Starbucks' new CEO is full steam ahead
▼ + stars: | 2024-09-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

All of our Super Six megacaps were higher, even Club stock Apple was pushing to stay in the green after getting mixed reviews on Monday's iPhone 16 event. That's an interesting line because you could argue that Starbucks needs to pullback its aggressive expansion plans in the world's second-largest economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Daniel Pinto, Pinto, JPMorgan's, else's, Jamie Dimon, Wells, Morgan Stanley, ramping, Brian Niccol, Niccol, Buster's, Jim Cramer's, Jim Organizations: CNBC, ., Apple, JPMorgan, Barclays Global Financial Services Conference, Dow, Starbucks, The Club, GameStop, Dave, Jim Cramer's Charitable Locations: Banks, U.S, United States, China

☆ Sales of $10 million homes surge in Palm Beach and New York
▼ + stars: | 2024-09-10 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Sales of ultra-luxury homes surged in New York, Miami and Palm Beach, Florida, in the second quarter, even as they fell in much of the rest of the world, according to a new report. The number of homes that sold for $10 million or more in the second quarter jumped 44% in Palm Beach, 27% in Miami and 16% in New York, according to a report from real estate firm Knight Frank. New York led the U.S. in $10 million-plus sales, with 72, its highest total in two years, according to the report. Miami came in second with 55, followed by Los Angeles with 42 and Palm Beach with 36. In June, a historic 3.2-acre estate in Palm Beach sold for $148 million, while in Manhattan, the penthouse of the Aman New York was sold for $135 million in July.

Persons: Robert Frank, Knight Frank, Michael Dorrell, Aman Organizations: Palm, Miami, Palm Beach, Wall Street Locations: New York, Miami, Palm Beach , Florida, Palm Beach, U.S, Los Angeles, Manhattan, York

☆ Deutsche Bank names Tesla a top pick, says it's in 'a league of its own'
▼ + stars: | 2024-09-10 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

Deutsche Bank resumed coverage of the U.S. auto industry and named Tesla a top pick in the process. Analyst Edison Yu reinstated Tesla with a buy rating and price target of $295, which indicates 36% upside from Monday's close. "Tesla is in a league of its own and represents our highest conviction secular leader," Yu wrote in a research note on Monday. "Long-term, Tesla is an emerging leader in autonomous driving (robotaxi) and humanoid robots (Optimus) ... which represent some of the most clear and lucrative applications of end-to-end AI." Back in June, CEO Elon Musk claimed Optimus robots could make Tesla a $25 trillion company one day.

Persons: Tesla, Edison Yu, Yu, ", Elon Musk Organizations: Deutsche Bank, U.S Locations: Europe, China

☆ None of the Big Three has won a grand slam this year. They leave a legacy which has transformed tennis on and off the court.
▼ + stars: | 2024-09-10 | by ( Issy Ronald | ) edition.cnn.com time to read: +10 min

But this year, men’s tennis has had a different complexion since none of Federer, Nadal or Djokovic has won a grand slam title for the first time since 2002. Whatever comes next is unlikely to mirror the previous era, leaving men’s tennis in an unfamiliar position, shorn of its three biggest icons who transcended the court. Carlos Alcaraz has already won four grand slam titles at the age of 21. “There has to be a real recalibration … because I already see people talking, like, ‘Can Alcaraz catch Djokovic’s grand slam record?’” Rothenberg tells CNN Sport. Medvedev and Dominic Thiem, who is retiring at the end of this year, are still the only men born in the 1990s to win a grand slam.

Persons: Roger Federer, Rafael Nadal, Novak Djokovic, Federer, Nadal, Djokovic, Andy Murray, –, Carlos Alcaraz, Alcaraz, Sinner, “, Mats Wilander, Pete Sampras, That’s, Ben Rothenberg, Matthew Stockman, Taylor Fritz, Frances Tiafoe, Ben Shelton, Holger Rune, Daniil Medvedev, ’ ” Rothenberg, Williams, ”, Wilander, Rafa Nadal, Medvedev, Dominic Thiem, Ryan Pierse, Rafa, ” Simon Cambers –, it’s, “ It’s, ” Jett Wright –, Topnotch Management –, David Foster Wallace, Anna Wintour, Angela Weiss, … Don’t, Björn Borg, Matteo Berrettini, Hugo Boss, Gucci, Simon Graf, Wright, Ernesto S, they’ll Organizations: CNN, Big, Australian, Wimbledon, Eurosport, CNN Sport, Federer, Serena, Nadal, “ Tennis, Topnotch Management, Getty, Cambers, MLB, MLS, NBA Locations: –, American

But even when her income rose, she still felt broke until she changed the way she managed money. At that time, she was working as a hairstylist in Minneapolis, making little more than minimum wage and struggling to pay her bills. One of the first things that a lot of business owners don't realize is how important it can be to have a set salary. Their overall goal was to have enough of an emergency fund that could cover both their living expenses and their business expenses for a year. But once all the amounts owed became clear, they were able to set goals to pay off each debt.

Persons: Rachel Pedersen, —, Pedersen, " Pedersen, Poul Pedersen, doesn't, there's Organizations: Service Locations: Dakota, Minneapolis

☆ Asia's newest billionaire founded a grocery store in 1987 and never gave up any stake — until this week's IPO
▼ + stars: | 2024-09-09 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Lee Thiam Wah, the founder of Malaysian mini-mart chain 99 Speed Mart, is Asia's latest billionaire. The company went public on Monday, becoming the largest Malaysian IPO in seven years. Lee grew the business from eight stores to over 2,600 across Malaysia, the largest mini-mart chain in the nation. AdvertisementLee Thiam Wah started selling snacks at a roadside stall. He founded the convenience store chain 99 Speed Mart and officially became a billionaire on Monday after his company went public in Kuala Lumpur.

Persons: Lee Thiam Wah, Lee, — Organizations: Malaysian, Service, Business Locations: Malaysian, Malaysia, Kuala Lumpur

☆ $100 billion club shrinks to 12 members as slump in stocks knocks 3 people out
▼ + stars: | 2024-09-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

The $100 billion club lost three people last week as tumbling stocks dented their net worths. Only 12 members remain after Jensen Huang, Michael Dell, and Gautam Adani shed their elite status. Go to newsletter preferences Thanks for signing up! AdvertisementThe $100 billion club has lost three members in four days, shrinking the elite group of the world's superwealthy to just 12 people. Nvidia CEO Jensen Huang, personal-computing pioneer Michael Dell, and Indian industrialist Gautam Adani saw their net worths tumble below $100 billion last week, per the Bloomberg Billionaire Index.

Persons: Jensen Huang, Michael Dell, Gautam Adani, — Organizations: Service, Nvidia, Bloomberg, Labor, Business

☆ How to trade Adobe's upcoming earnings using options
▼ + stars: | 2024-09-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

I'll break down various option trade scenarios into the earnings, focusing on one that will benefit from a big move in any direction. Adobe's Creative Cloud subscription model generates recurring revenue and maintains a solid customer base, from freelancers to large enterprises. Adobe's Document Cloud, featuring Acrobat and PDF solutions, is critical in digital document management and e-signatures. Of course, any bears out there could also use a calendar to bet on a downside move, using a $500 Sep/Jan put calendar. Combining the call and put calendar is a trade I usually refer to as a strangle swap.

Persons: Adobe Sensei, Jan, I've Organizations: Adobe, Labor, CNBC, NBC UNIVERSAL

☆ Musk could be the world's first trillionaire in 3 years — if Tesla's fluctuating stock plays ball
▼ + stars: | 2024-09-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Elon Musk is projected to become a trillionaire by 2027, per Informa Connect Academy. The report's predictions are based on an individual's annual wealth growth rate. AdvertisementElon Musk is on track to become the world's first trillionaire, according to a new report from Informa Connect Academy. According to Bloomberg's Billionaires Index, the Tesla CEO is currently the world's richest person, with a net worth of $237 billion. The report's predictions are based on an individual's average annual wealth growth rate.

Persons: Elon, Tesla, — Organizations: Informa Connect Academy, Service, Informa Connect, Business

☆ DJT stock: Trump has lost $4 billion in Truth Social wipeout
▼ + stars: | 2024-09-09 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Despite a 7% rebound on Monday, Trump Media has lost nearlythree-quarters (72%) of its value since peaking at $66.22 on March 27. The wipeout reinforces concerns raised by experts who have repeatedly warned that Trump Media’s multi-billion-dollar price tag defies logic. The company is losing money, generating very little revenue and Truth Social remains a relatively tiny player in social media. In August, Trump Media launched Truth+, a TV streaming platform on iOS, Android and the Web versions of Truth Social. It’s possible Trump Media’s stock market fortunes could turn, especially with the former president’s high-profile debate Tuesday with Harris.

Persons: Donald Trump’s, It’s, Trump, ” Matthew Tuttle, Barry Diller, ”, Reid Hoffman, Diller, Hoffman, Tuttle, Kamala Harris, Joe Biden, Harris, ” Tuttle, Still, you’re Organizations: New, New York CNN, Trump Media & Technology, Truth, Trump Media, Trump, Bloomberg, Tuttle Capital Management, CNN, CNBC, LinkedIn, Democratic, ” Trump Media Locations: New York

☆ The Washington Post is trying to fix one of the biggest problems
▼ + stars: | 2024-09-09 | by ( Brian Stelter | ) edition.cnn.com time to read: +3 min

New York CNN —The Washington Post is trying to fix one of its biggest problems: an outdated homepage loathed by its own staff. Lewis is under pressure to recapture paying subscribers and return the Post to profitability, a goal he says he is making progress on. More urgently, at the Post, the homepage redesign is a sign that the new management regime is moving quickly to make significant changes. Lewis was appointed publisher and chief executive in January and didn’t mince words about the beleaguered state of the Post. While Lewis hasn’t entirely recovered, he has used his weekly memos to tout progress in rebuilding the Post’s subscriber rolls.

Persons: Will Lewis’s, Jeff Bezos, Lewis, ”, “, Matt Murray, didn’t, Lewis hasn’t Organizations: New, New York CNN, Washington Post, The New York Times, Technology, Google Locations: New York, Washington, ”

☆ Palantir soars 14% on software vendor's inclusion in S&P 500
▼ + stars: | 2024-09-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Palantir shares popped 14% on Monday and are trading at their highest since early 2021 after the announcement late Friday that the stock is being added to the S&P 500. Palantir and Dell are replacing American Airlines and Etsy , respectively, S&P Global said in a press release. Dell shares rose almost 4% on Monday. To join the S&P 500, a company must have reported a profit in its latest quarter and have cumulative profit over the four most-recent quarters. Tech companies have been capturing a bigger share of the S&P 500, reflecting their growing significance to the broader economy.

Persons: Alex Karp, Palantir, — CNBC's Ari Levy Organizations: Palantir Technologies, Allen, Co . Media, Technology Conference, Dell, American Airlines, P Global, Tech, Micro Computer, New York Stock Exchange Locations: Sun Valley , Idaho

☆ Oracle shares jump on earnings and revenue beat
▼ + stars: | 2024-09-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. Here is how the company did compared to LSEG consensus:Earnings per share: $1.39 adjusted vs. $1.32 expected$1.39 adjusted vs. $1.32 expected Revenue: $13.31 billion vs. $13.23 billion expectedOracle's revenue increased 8% from $12.45 billion a year ago, according to a statement. For the current quarter, Oracle expects revenue growth of 8 to 10%, CEO Safra Catz said on the earnings call. The company said its cloud services and license support business generated $10.52 billion in revenue. During the quarter, Oracle announced the opening of a second cloud region in Saudi Arabia and said its database software will be available through Google's public cloud.

Persons: Larry Ellison, Safra Catz, Catz, Oracle's, Ellison, Oracle Organizations: Oracle Corp, Oracle, Amazon Web Services Locations: San Francisco, Saudi Arabia

☆ Why playing it safe on immigration and crime could be a big risk for Harris
▼ + stars: | 2024-09-09 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +19 min

Since Harris replaced President Joe Biden as the Democratic nominee, Trump has constantly attempted to portray her as weak on immigration and crime. On Friday, Harris also chose not to mention mass deportation during a radio interview with Univision, when the host asked her to summarize her argument to undecided Hispanic voters. “There is a way in which those [crime and immigration] issues in particular are also about bigger things,” said Adrianne Shropshire, executive director of BlackPAC, a group working to mobilize Black voters for Harris and Democrats. And many of those voters might recoil from these Trump policies on crime and immigration if they heard more about them. “What he is hoping is that the Black voters who he is [courting] don’t see that stuff,” Shropshire said.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Joe Biden, Gary Segura, UnidosUS, Segura, Ohio Sen, JD Vance, Stephen Miller, Miller, Michael Ettlinger, Goldman Sachs, Jeffrey Passel, Passel, Rudolph Giuliani, Michael Bloomberg, Black, Ed Chung, Vera Action, Tim Walz, Trump’s, she’s, surrogates, ”, Adrianne, “, ” Segura, ” Tom Wong, Wong, ” Wong, Daniela Gilbert, That’s, Biden, Gilbert, ” Gilbert, ” Anthony Baber, Baber, “ Trump, ” Baber, ” Harris, She’s, Chung, –, Dana Bash, , Daniel Cox, BlackPAC Organizations: CNN, Democratic, Unidos, ”, White, Trump, of Police, National Guard, University of New, Carsey, of Public, Boston Globe, Pew Research Center, New York Police Department, Minnesota Gov, Univision, Black, GOP, US Immigration, Center, University of California, America’s, Marquette Law School, Religion Research Institute, Detroit, Whites, Survey Center, American Enterprise Institute Locations: California, Wisconsin, Texas, New York City, Phoenix, Las Vegas, Philadelphia, Atlanta, Savannah, Adrianne Shropshire, San Diego, United States, CNN’s, Michigan, Pennsylvania, Shropshire, ” Shropshire

☆ Many 'doubted the vision': Saudi investment minister touts 'green shoring' on path to diversification
▼ + stars: | 2024-09-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Saudi Minister of Investment Khalid al-Falih pushed back against skepticism over the country's economic diversification plan, as Riyadh touts "green shoring" investment opportunities to woo foreign financing. The Saudi minister on Saturday said that, eight years into manifesting Vision 2030, the kingdom is now "more committed, more determined" to the program and has already implemented or is about to complete 87% of its targets. The number of foreign investment licenses issued in Saudi Arabia nearly doubled in 2023, the IMF noted, with government data pointing to a 5.6% annual increase in net flows of foreign direct investment in the first quarter. Concerns have nevertheless lingered over the potential uncertainty and unpredictability of the kingdom's legal framework and its dispute resolution system for foreign investment. Al-Falih insisted that Saudi Arabia boasts predictability, as well as domestic political and economic stability.

Persons: Khalid, Falih, CNBC's Steve Sedgwick, Mohammed bin Salman's Organizations: International Monetary Fund, IMF Locations: Saudi, Riyadh, Cernobbio, Italy, U.S, Saudi Arabia

☆ Apple is losing ground in China. Here's how the iPhone 16 can help.
▼ + stars: | 2024-09-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Wang Gang/Getty ImagesIt's worth noting that in its 15-year history with the iPhone in China, Apple has been the dominant force in the smartphone market. Other local smartphone manufacturers, including Honor, Xiaomi, and Vivo, have also seen gains over the past year. The upcoming iPhone 16 will introduce users to Apple Intelligence, its new suite of generative AI features, first introduced at its June Worldwide Developers Conference. Apple is betting on Apple Intelligence to boost iPhone sales. The company is seeking a local partner to bring more advanced chatbot features to Apple Intelligence in China.

Persons: —, Tim Cook, It's, Wang Gang, Apple, Xiaomi, Cook, ChatGPT, Wedbush, Paolo Pescatore Organizations: Service, Apple, Weibo, Business, China Apple, Huawei, Pura, Apple Intelligence Apple, Apple Intelligence, Foresight Locations: China, Shanghai, He'll, Cupertino

Charles Coristine used to revel in working at Morgan Stanley. At a barbeque, Coristine met an owner of snack company LesserEvil, who talked about wanting to sell his "flatlining" business. A 'scrappy' reinventionWhen he bought LesserEvil, Coristine was working at TD Bank and pursuing an MBA at Cornell University Graduate School. It brought in roughly $2 million that year, accounting for a third of LesserEvil's annual revenue, the company says. A year later, the company got its first outside funding — about $3 million, the company says — from sustainable food and agriculture investment firm InvestEco.

Persons: Charles Coristine, revel, Morgan Stanley, Coristine, that's, Andrew Strife, welders, LesserEvil, Homer, Henry David Thoreau, — Organizations: CNBC, U.S, TD Bank, Cornell University Graduate School, packers, Kroger, LesserEvil, Growth Locations: Tokyo, London, Danbury , Connecticut, Wilton , Connecticut, Danbury, New Milford

☆ More and more Gen Zers are struggling to stay in work or school. With $350 monthly, a New Orleans guaranteed income program hoped to change that.
▼ + stars: | 2024-09-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +7 min

Read previewFor some young New Orleans residents, guaranteed basic income helped them afford a ride to work. The New Orleans guaranteed basic income pilot was a collaboration between Mayor LaToya Cantrell's Office of Youth and Families and the national advocacy network Mayors for a Guaranteed Income (MGI). AdvertisementResearchers, however, noted that the individualized impacts of guaranteed basic income are difficult to capture in a dataset. For Howlette, the New Orleans pilot results show that housing, work, and transportation-related costs are major barriers for opportunity youth. She said guaranteed income is just one way to help alleviate these challenges and prevent long-term poverty.

Persons: —, would've, LaToya, Howlette Organizations: Service, SNAP, Medicaid, Business, New, LaToya Cantrell's, Youth, The Center, University of Pennsylvania, Orleans Mayor's Locations: New Orleans, America, Los Angeles, Birmingham, Chicago, Denver, , New Orleans, Louisiana, Orleans

☆ U.S. airlines cool hiring after adding 194,000 employees in post-Covid spree
▼ + stars: | 2024-09-06 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +5 min

U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. It’s a departure from the previous years when airlines couldn’t hire employees fast enough. U.S. airlines are usually adding pilots constantly since they are required to retire at age 65 by federal law. Then, travel demand snapped back faster than expected, climbing in earnest in 2022 and leaving airlines without experienced employees like customer service agents. “We will be hiring for the foreseeable future at levels like that,” he said at the time.

Persons: Kit Darby, they’ll, Raymond James, Savanthi, Tammy Romo, Robert Isom, “, ”, Ken Byrnes Organizations: U.S . Department of Transportation, Airlines, Boeing, Airbus, U.S, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, JetBlue Airways, Spirit Airlines, Pratt & Whitney, Frontier Airlines, Dallas, ”, ” United Airlines, —, FedEx, UPS, American, Embry, Riddle Aeronautical University Locations: U.S, ” United

☆ ‘The sky is not falling’: US economy added 142,000 jobs in August
▼ + stars: | 2024-09-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Economists were expecting a net gain of 160,000 jobs and for the unemployment rate to fall to 4.2%, according to FactSet consensus estimates. With inflation pretty much tamed and moderating as expected, the Federal Reserve has turned its focus to the labor market (the other part of its dual mandate). Job growth has been slowing, but there were indications that the labor market was weakening under the weight of 23-year-high interest rates. A ‘place of stability’July’s shockingly weak jobs report stoked fears that the jobs market was collapsing, potentially taking the economy into a downturn. And while a rate cut is coming, the jury is still out on the exact size of that move.

Persons: ” Eugenio Alemán, Raymond James, August’s, We’re, Rachel Sederberg, “, Becky Frankiewicz, ’, ”, Kory Kantenga, —, ” Kantenga, Michelle Holder, haven’t Organizations: CNN, Employers, Bureau of Labor Statistics, Federal Reserve, Fed, ManpowerGroup, Retail, Americas, LinkedIn, John Jay College, City University of New Locations: ManpowerGroup North America, Michigan, City University of New York

☆ China's wealthy are increasingly looking overseas for business investment opportunities
▼ + stars: | 2024-09-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Instead of high-net-worth individuals, C-suite executives in China are increasingly using business jets, said Paul Desgrosseilliers, general manager at ExecuJet Haite General Aviation Services. ExecuJet HaiteBEIJING — China's wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants. The company's active overseas clients rose by nearly 63% year on year to 3,244. Overseas assets under management rose nearly 15% to $5.4 billion from a year earlier, while mainland China assets under management fell over 6% to $15.8 billion, according to Noah's quarterly earnings report. "What we are hearing from them is that the fastest growth in terms of interest from Chinese clients [occurred] in the post-Covid [period to] early last year."

Persons: Paul Desgrosseilliers, ExecuJet, there's, Ryota Kadogaki, Grant Pan, Noah Holdings, Noah, Kadogaki, Mu Chen, That's, Pan, ExecuJet Haite Organizations: General Aviation Services, Beijing Daxing, Monolith, Investors, Ministry of Commerce, CNBC, Noah Holdings, Beijing Daxing International Locations: China, Beijing, BEIJING, Japan, Mainland China, Singapore, Hong Kong, Southeast Asia, East, Africa, Asia Pacific

☆ The hottest gift you can give a tech bro isn't something new — it's something old
▼ + stars: | 2024-09-06 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

It's another example of how tech bros aren't necessarily interested in modern gift trends. Net-a-Porter's former top personal shopper told BI many tech bros get a thrill from owning history. 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 . But when it comes to tech bros and the types of gifts they like to give and receive, it's all about the "something old."

Persons: Mark Zuckerberg, Priscilla Chan, —, Aaron Mok Organizations: bros, Service, Tech, Business, US Bureau of Labor Statistics

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