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☆ How Black business leaders are thinking about a coming Trump administration
▼ + stars: | 2024-11-08 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +1 min

Black business leaders are still trying to figure out why Vice President Kamala Harris lost the presidential race, and how to approach the coming administration of President-elect Donald Trump. That's what the voters wanted and that's what they thought President Trump represents," said Charles Phillips, co-chair of the Black Economic Alliance and co-founder of Recognize. According to NBC News, Trump's economic policies were a key reason he gained support from Black voters in battleground states like North Carolina and Wisconsin. But Ryan Wilson, co-founder and CEO of the Gathering Spot, believes Harris' race and gender were the primary reasons for her loss. "I don't know another way to have the discussion but to point to America's old enemies, racism and sexism.

Persons: Kamala Harris, Donald Trump, Trump, Charles Phillips, Ryan Wilson, Harris, Wilson Organizations: Black Economic Alliance, CNBC, NBC News Locations: North Carolina, Wisconsin

☆ Black Economic Alliance co-chair Charles Phillips on VP Harris' plan to empower black men
▼ + stars: | 2024-10-15 | 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 EmailBlack Economic Alliance co-chair Charles Phillips on VP Harris' plan to empower black menCharles Phillips, Recognize co-founder and managing partner and Black Economic Alliance co-chair, joins 'Squawk Box' to discuss Vice President Kamala Harris' plan to give black men more economic opportunities, why he's supporting VP Harris, the Harris economic agenda, and more.

Persons: Charles Phillips, Harris, Kamala Harris Organizations: Economic Alliance, Black Economic Alliance

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Why China’s and Russia’s Militaries Are Training Together
▼ + stars: | 2024-08-13 | by ( David Pierson | ) www.nytimes.com time to read: +1 min

China and Russia have pressed an informal political and economic alliance against the West. Now they are stepping up the cooperation between their militaries with increasingly provocative joint war games. Days earlier, the countries held live-fire naval drills in the hotly contested South China Sea for the first time in eight years. China has been frustrated by American trade restrictions and Washington’s building of security alliances in Asia. It has pushed back by trying to court European countries with trade and building its influence among poorer countries with investments.

Persons: Xi Jinping, Vladimir V, Putin Organizations: China Locations: China, Russia, Alaska, Taiwan, Japan, South Korea, America, United States, Asia

☆ The E.U. Is Voting. It’s Never Mattered More.
▼ + stars: | 2024-06-07 | by ( Matina Stevis-Gridneff | ) www.nytimes.com time to read: +1 min

It’s tempting to dismiss the European Parliament elections as the most important elections that don’t actually matter. Hundreds of millions of voters across 27 nations will turn out this weekend to cast their ballots, but the European Parliament is the least powerful of the European Union institutions. Its 720 members have limited powers, and, while a few are ascendant stars, a few are retired politicians, or even criminals. The Parliament that emerges from these elections, weak though it may be, will serve as a brake or accelerator for the crucial policies that will help shape Europe’s immediate future. In the five years since the last election, the bloc jointly bought Covid-19 vaccines and started a massive economic stimulus program to recover from the pandemic.

Organizations: European Union Locations: Russia, Ukraine

☆ Moscow's ties to Beijing are paying off as Russian firms flourish amid lucrative deals with China
▼ + stars: | 2024-03-13 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Some Russian companies are seeing their business boom thanks to trade with China, Reuters reported. Analysts warn of China's potential losses if sanctions extend to companies there that do business with Russia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As China buys more Russian energy supplies, Chinese companies are supplying Russian firms with machinery and vehicles, Reuters said. AdvertisementStill, experts warn of underlying risks in Russia's economic reliance on China, as China may have much to lose if sanctions extend to domestic companies.

Persons: —, Vladimir Putin, Dmitry Peskov Organizations: Reuters, Service, China, Volkswagen, Renault, Chery Locations: China, Beijing, Russia, Ukraine, Moscow

☆ More than 100 years since the Black Wall Street massacre, Tulsa is creating a haven for entrepreneurs
▼ + stars: | 2024-02-16 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

Overlaid on that picture is the company name, Grier Shoe Shop, and its address — which is part of an area known as Black Wall Street. With these ventures, she's part of a growing class of Black entrepreneurs tapping into Tulsa's history for inspiration and resources for support. He also won a grant from a Black Wall Street organization. The Black Wall Street Mural in the Greenwood district of Tulsa, Oklahoma, on Friday, June 19, 2020. Greenwood, known as Black Wall Street, was one of the most prosperous African-American enclaves in the U.S. before it was burned down by a white mob in 1921.

Persons: Venita Cooper, Parnia Mazhar, Grier, Silhouette, They've, Cooper, Dominick Ard'is, George Floyd, Ashli Sims, she's, Sims, North Martin Luther King, Edna Martinson, It's, Martinson, LaTanya White, he's, Adesanya, Grant Warner, James Lowry, Lowry, who's, Greenwood, Christopher Creese Organizations: Silhouette, NBC News, Tulsa, Build, Art, NBC, North Martin Luther King Jr, Ku Klux, House, Art Basel, Southwest, Black, Stanford, National Bureau of Economic Research, Creative, CNBC, Harvard Business School, Center for Black Entrepreneurship, Black Economic Alliance Foundation, Boston Consulting, Bloomberg, Getty Locations: Greenwood, Tulsa , Oklahoma, TULSA, Tulsa, North, Miami, South, Austin, U.S, PalmPlug, Seattle, America

☆ Biden preparing to discuss Israel and Ukraine wars with Xi – and make case to Beijing for containment
▼ + stars: | 2023-11-14 | by ( Mj Lee | Kevin Liptak | ) edition.cnn.com time to read: +6 min

The global unrest ratchets up the stakes of Biden’s sit-down with Xi, their first face-to-face meeting in a year. As Biden confronts two presidency-defining conflicts in Ukraine and Israel, he is eager to improve ties with Beijing and prevent another crisis from exploding on his watch. Still, US officials believe there might be a limited role Beijing can play in the Ukraine war, notwithstanding China’s deep economic alliance with Russia. Since the earliest stages of the Ukraine war, Biden has sought to convince Xi to withhold support for his ally in Moscow, President Vladimir Putin. Like Iran, Russia shares China’s aims of reshaping what they see as an American-led world order hostile to their aims.

Persons: San Francisco CNN —, Joe Biden, Xi Jinping, Biden, Xi, ”, Beijing’s, Wang Yi, week’s Biden, Wang, Jake Sullivan, Vladimir Putin, Putin Organizations: San Francisco CNN, US, United, San, Pacific Rim, Hamas, Saudi, “, White Locations: San, Ukraine, Russia, Israel, San Francisco Bay, Iran, Beijing, East, Europe, United States, San Francisco, California, China, Chinese, Washington, Gaza, Moscow, American, North Korea

TAIPEI, Taiwan (AP) — Russian President Vladimir Putin is expected to meet this week with Chinese leaders in Beijing on a visit that underscores China’s economic and diplomatic support for Moscow during its war in Ukraine. China has sought to balance its ties with Israel with its economic relations with Iran and Syria, which are strongly backed by Russia. Putin’s visit is also a show of support for Chinese leader Xi Jinping’s signature Belt and Road drive to build infrastructure and expand China’s overseas influence. “I don’t expect that Russia and China will create a military alliance,” Gabuev said. China and the former Soviet Union were Cold War rivals for influence among left-leaning states, but have since partnered in the economic, military and diplomatic spheres.

Persons: Vladimir Putin, Putin’s, Xi, Putin, ”, ” Putin, ” Alexander Gabuev, that’s, ” Gabuev, “, Beijing's, hasn't Organizations: Moscow, Soviet Union, Carnegie Russia Eurasia Center, Ukraine, Associated Press, International Locations: TAIPEI, Taiwan, Beijing, Ukraine, United States, Israel, China, Iran, Syria, Russia, Russian, Zambia, Sri Lanka, Moscow, Central Asia, “, Asia, Europe, Cold

☆ Las Vegas is asking companies that want to move or expand there to show how much water they plan to use
▼ + stars: | 2023-09-15 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Las Vegas is trying to balance economic growth and water conservation. The producer plans to move to northern Las Vegas and requested $2.28 million in tax incentives from the Nevada Governor's Office of Economic Development. The water-investment tool works like this: First, the Southern Nevada Water Authority analyzes how much consumptive water a new or expanding company would use. Johnson said the next steps include making sure officials in every city in greater Las Vegas are using the tool in the same way. The water-investment tool builds on a long list of conservation measures in Las Vegas.

Persons: Dave Johnson, Johnson, there's, Tina Quigley, Quigley, Lake Mead Organizations: Service, revelers, Las Vegas, Southern Nevada Water Authority, Juanita's Foods, Nevada Governor's, Economic, Juanita's, Las Vegas Global Economic Alliance Locations: Vegas, Colorado, California, Phoenix, Las, Las Vegas, Nevada, Lake, Arizona . Nevada, Nevada , Arizona

☆ BEA Foundation poll shows 78% of Americans support active diversity efforts, says CEO
▼ + stars: | 2023-09-06 | 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 EmailBEA Foundation poll shows 78% of Americans support active diversity efforts, says CEOCharles Phillips, Recognize co-founder and managing partner, and Dr. Tony Coles, The Black Economic Alliance CEO and Regeneron board member, join 'Squawk Box' to discuss a recent poll on diversity, equity and inclusion efforts in corporate America, if DEI efforts have been categorized with the word 'woke', and what the public wants companies to do.

Persons: Charles Phillips, Tony Coles Organizations: BEA, Black Economic Alliance Locations: America

"What we have seen over the last couple of months is a breathtaking kind of diplomacy, that has been led by courageous leaders in both Japan and South Korea," said Kurt Campbell, Biden's coordinator for Indo-Pacific affairs. CHINA VIEWS SUMMIT WARILYNo specific action by the trio in Camp David is expected to sharply increase tensions with China, though Beijing has warned that U.S. efforts to strengthen ties with South Korea and Japan could "increase tension and confrontation in the region." While South Korea, Japan and the United States want to avoid provoking Beijing, China believes Washington is trying to isolate it diplomatically and encircle it militarily. South Korea has legislative elections next year and Japan must hold one before October 2025, and what analysts see as a still fragile rapprochement between the two nations remains controversial among the countries' voters. The White House, conscious of the electoral clock, wants to make the progress between South Korea and Japan hard to reverse, including by establishing routine cooperation on military exercises, ballistic missile defense, the economy, and scientific and technological research.

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Jonathan Ernst, David, Joe Biden's, Biden, Yoon Suk Yeol, Kurt Campbell, Campbell, Camp David, Donald Trump, Trevor Hunnicutt, David Brunnstrom, Andrea Shalal, Don Durfee, Grant McCool Organizations: Japan’s, Grand Prince Hotel, REUTERS, U.S, South, Biden, Republican, Thomson Locations: Hiroshima, Japan, HAGERSTOWN , Maryland, United States, South Korea, U.S, Seoul, Tokyo, Korean, CHINA, China, Beijing, Washington, North Korea, Russia, South China, Philippines, Philippine, Hagerstown , Maryland

U.S. President Joe Biden hopes to cement those ties with a summit at Camp David, the storied presidential retreat in Maryland's Catoctin Mountains, this Friday. To be sure, previous efforts to build closer ties between South Korea and Japan have stumbled. China blasted the move, seizing on a chance to embarrass Tokyo ahead of the Camp David summit. No specific action by the trio in Camp David is expected to sharply escalate rhetoric with Beijing. Just last month, Kim hosted Russia's defense minister and a Chinese Communist Party Politburo member in Pyongyang for an event celebrating the end of the 1950-1953 war between North and South Korea.

Persons: Joe Biden, Kevin Lamarque, Yoon Suk, didn't, Yoon, Biden, Camp David, Dennis Wilder, George W, Bush, Kishida, Kim Tae, hyo, David, Donald Trump, Kurt Campbell, East Asia Mira Rapp, Hooper, Xi Jinping, Kim Jong, Kim, Trevor Hunnicutt, David Brunnstrom, Hyonhee Shin, Josh Smith, Tim Kelly, Sakura Murakami, Don Durfee, Alistair Bell Organizations: White, REUTERS, South, Camp, Georgetown University, Republican, East Asia, NATO, Chinese Communist Party Politburo, Thomson Locations: Washington , U.S, WASHINGTON, SEOUL, TOKYO, Japan, South Korean, North Korea, Seoul, Tokyo, East Asia, Taiwan, U.S, Camp, Maryland's Catoctin, South Korea, Korean, China, Korea, Washington, Pacific, Beijing, Russia, Pyongyang, North

☆ The number of partners to leave Goldman Sachs since David Solomon took over as CEO just hit 90
▼ + stars: | 2023-08-01 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

It's been a busy summer for Goldman Sachs' partner departures. Two more farewell memos went out on Tuesday, including for Lisa Opoku and David Rusoff. Just weeks after reporting a 58% drop in profit, the Goldman Sachs CEO was hit with a wave of high-profile defections that bring the number of partners who have left under Solomon to 90. Opoku worked as global head of the Goldman Sachs Partner Family Office, which oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors, and alumni. In her current role, Lisa oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors and alumni.

Persons: It's, Goldman Sachs, Lisa Opoku, David Rusoff, Julian Salisbury, Takashi Murata, David Solomon, Solomon, Goldman, — Lisa Opoku, David Rusoff —, pare, Tammy Kiely, Frederick Baba, Dina Powell McCormick, Opoku, Marc Nachmann, Kathryn Ruemmler, Rusoff, Ken Griffin's, Peng Zhao, David Thomas, Goldman's, Thomas, Shawn Fagan, Lisa Organizations: Asia Pacific, Global Banking, Markets, Citadel Securities, Citadel, Engineering, Securities Division, Commodities Bank, Black Network, Advisors, Black Economic Alliance, Firmwide Locations: Hong Kong, Asia, New York, London, Americas

☆ Russia says regional free trade pact with Iran possible by year-end
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +2 min

June 19 (Reuters) - A free trade zone agreement between Iran, Russia and several countries that cover the vast Eurasian region spreading from the borders of Eastern Europe to Western China is possible by the end of the year, Russia's TASS news agency reported on Monday. Russian Deputy Prime Minister Alexei Overchuk told the state TASS agency in an interview that talks between the Eurasian Economic Union - which comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia - and Iran are in their final stages. The regional agreement with Iran would replace and expand an interim pact that already provides a reduction in customs duties on hundreds of categories of goods. In November 2022, Russia started swapping oil products with Iran and in March, Tehran said it counts on "huge volumes" of both oil and gas swaps with Moscow. Overchuk also told TASS, without providing much detail, that negotiations among the Eurasian Economic Union countries on creating a common gas market continue.

Persons: Alexei Overchuk, Overchuk, Lidia Kelly, Michael Perry Organizations: TASS, Eurasian Economic, Kremlin, Moscow, Thomson Locations: Iran, Russia, Eastern Europe, Western China, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Ukraine, Europe, Moscow, Tehran, Russian, China, Melbourne

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. And that’s why we’ve gone to community banks and regional banks such as SVB,” Bradley said. SVB’s collapse could spark future change, entrepreneur saysBecause of these disparities, entrepreneurs also seek funding from venture capitalists. In the early 2010s, Hamilton intended to start her own tech company — but as she searched for investors, she saw that White men control nearly all venture capital dollars. That experience led her to establish Backstage Capital, a venture capital fund that invests in new companies led by underrepresented founders.

☆ Factbox: JPMorgan's Dimon comments on banking crisis and AI in annual letter
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +5 min

April 4 (Reuters) - The U.S. banking crisis is ongoing and will have effects for years to come, JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon wrote in a letter to shareholders on Tuesday. Here are some snippets from the letter:ON BANKING CRISIS* "Regarding the current disruption in the U.S. banking system, most of the risks were hiding in plain sight." * "While this crisis will pass, lessons will be learned, which will result in some changes to the regulatory system. * "The debate should not always be about more or less regulation but about what mix of regulations will keep America's banking system the best in the world." * "Regulatory arbitrage is already forcing many activities, from certain types of lending to certain types of trading, outside the banking system."

☆ The world needs more economic alliances than security ones, analyst says
▼ + stars: | 2022-11-16 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

Countries should strike up more economic alliances than security and defense ones, as those could make the world "more dangerous," the president of the Center for China and Globalization said on Tuesday. The U.S. for example, could consider joining — or "re-joining" — the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Henry Wang said at the SALT iConnections conference in Singapore. "The U.S. is the vibe of globalization and [has] always taken the lead on globalization," Wang said. Wang added that there should be more economic alliances and fewer security ones such as the AUKUS, Five Eyes and the Quadrilateral Security Dialogue, an informal strategic alliance. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a multilateral trade deal signed in 2018 that was formed after the United States, under the Trump administration, withdrew from the Trans-Pacific Partnership.

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