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☆ Goldman says this market-beating bank stock has a lot further to run
▼ + stars: | 2024-10-08 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Goldman Sachs thinks that U.S.-traded shares of Barclays still have a long growth runway ahead, even after already beating the market so far in 2024. The firm initiated coverage of the banking stock with a buy rating and a 290 pence per share price target on Tuesday. Goldman analyst Chris Hallam forecasts that Barclays could grow its earnings per share twice as fast as peer firms through 2027, while a steep discount on the stock gives investors an attractive entry point. ""The Investment Bank [portion of Barclays' business] is at-scale but currently under-earning," Hallam said. Hallam noted Barclays stock currently trades at roughly six times its 12-month forward price-to-earnings ratio, compared to the wider group of banks covered by Goldman that trade at seven times forward P/E.

Persons: Goldman Sachs, Goldman, Chris Hallam, Hallam Organizations: Barclays, U.S, BCS, ADRs, Investment Locations: American, stoke, reallocation

PARIS — U.S. gymnast Jordan Chiles must return her bronze medal in the floor exercise, the International Olympic Committee said Sunday, upholding findings that a coach's protest that got her on the podium shouldn't have been allowed. Romanian Ana Bărbosu, 18, will now be the floor exercise bronze medalist. "We are devastated by the Court of Arbitration for Sport ruling regarding women’s floor exercise," according to a statement issued by USA Gymnastics on Saturday night. "The inquiry into the Difficulty Value of Jordan Chiles’ floor exercise routine was filed in good faith and, we believed, in accordance with FIG rules to ensure accurate scoring." "I am taking the time and removing myself from social media for my mental health thank you," she wrote.

Persons: Jordan Chiles, Chiles, Cecile Landi, Marcel Ciolacu, he'd, Romanian Ana Bărbosu, Ana Bărbosu, She's, Jordan, she'd, David K, Li, Sean Nevin Organizations: PARIS, International Olympic, Romanian, IOC, Sunday, Sport, International Gymnastics Federation, NOC, USA Gymnastics Locations: U.S, Romanian, Romania, France, New York City, Tokyo, Paris, London

☆ Jordan Chiles to lose Olympic bronze medal after court overturns score change
▼ + stars: | 2024-08-11 | by ( Zack Pierce | ) www.nytimes.com time to read: +3 min

“The IOC will reallocate the bronze medal to Ana Bǎrbosu (Romania),” the statement said. But her coach, Cecile Landi, submitted an inquiry to challenge the difficulty score Chiles had received. The court agreed, invalidating Chiles’ score, and the International Gymnastics Federation, known as FIG, then announced that it had officially changed the ranking of the competition, putting Chiles back in fifth place. “The inquiry into the Difficulty Value of Jordan Chiles’ floor exercise routine was filed in good faith and, we believed, in accordance with FIG rules to ensure accurate scoring,” the statement said. AdvertisementA few days later, she was in the floor exercise final.

Persons: Jordan Chiles ’, Ana Bǎrbosu, Chiles, Cecile Landi, Sabrina Maneca, Landi, Jordan Chiles, Jordan, ” Chiles, “, ” Simone Biles, Naomi Baker, Simone Biles, Sunisa Lee, Lee, She’s, — Organizations: Paris Games, International Olympic, National Olympic, Sport, International Gymnastics Federation, U.S, Olympic, Paralympic Committee, Disneyland Paris Locations: Romania, Bǎrbosu, ”

☆ Jordan Chiles: US gymnast stripped of bronze medal in floor exercise
▼ + stars: | 2024-08-11 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —The International Olympic Committee (IOC) announced on Sunday that the bronze medal given to American gymnast Jordan Chiles in the floor exercise at the Paris Games will be awarded to her Romanian counterpart Ana Bărbosu. And the IOC confirmed that the score change will mean Chiles will be stripped of her bronze and given to Bărbosu. Ana Bărbosu reacts after competing in the women's floor exercise. Immediately after the competition finished on Monday with Chiles’ routine, Bărbosu thought she had won the bronze medal after posting a score of 13.700. However, CAS’ ruling that the inquiry submitted on behalf of Chiles “was raised after the conclusion of the one-minute deadline” stipulated in the regulations threw Chiles’ medal into doubt.

Persons: Jordan Chiles, Ana Bărbosu, Chiles, Ana Barbosu, “, Jordan, Jamie Squire, Rebeca Andrade, Simone Biles, Andrade, Chiles “, ” CNN’s Issy Ronald, Jacob Lev, Homero De La Fuente, Dan Moriarty Organizations: CNN, Olympic Committee, Paris Games, Sport, USA, Gymnastics Federation, IOC, International Gymnastics Federation, NOC, Paralympic, FIG, Games Locations: Romanian, Romania, ”, “

☆ Jordan Chiles Lost a Bronze Medal Because an Appeal Was Four Seconds Late
▼ + stars: | 2024-08-11 | by ( Juliet Macur | ) www.nytimes.com time to read: +1 min

After learning that she might lose the bronze medal she won in the floor exercise at the Paris Olympics — the only individual medal she won at these Summer Games — the American gymnast Jordan Chiles took to social media on Saturday and posted four broken heart emojis on a black background. That’s four broken hearts for the four seconds that cost her a bronze medal. The International Olympic Committee confirmed on Sunday that it would strip Chiles of her bronze medal and give it to Romania’s Ana Barbosu. The United States Olympic & Paralympic Committee said Sunday it would appeal the reallocation of Chiles’s medal. “We firmly believe that Jordan rightfully earned the bronze medal,” it said in a statement.

Persons: Jordan Chiles, Chiles, Ana Barbosu, “, Jordan Organizations: Paris Olympics, Olympic, Sport, United States Olympic, Paralympic

☆ These are the most popular trades today — and the best contrarian trades to go against the crowd
▼ + stars: | 2024-06-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

By far, the most dominant trade on Wall Street is going long the "Magnificent Seven." Investors are the most bullish they've been on the mega-cap tech stocks going back to October 2020, the firm found. In fact, about 69% of respondents were bullish on the group, making the Magnificent Seven the most crowded trade for 15 straight months. One highly contrarian trade Bank of America identified could be going long bonds. Going long oil is another contrarian trade that could work as an hedge against geopolitical risk, the Wall Street firm said.

Persons: they've, What's, BofA Organizations: Bank of America Securities, Bank of America

☆ France awarded Olympic medal given to Great Britain in 1900
▼ + stars: | 2024-06-17 | by ( Julen Chauvin | Emma Leyo | ) edition.cnn.com time to read: +3 min

Paris, France CNN —France has scored a belated surprise Olympic victory against Great Britain – 124 years later than expected – after a 1900 Paris Olympics cycling silver medal was taken away from Team GB and awarded to its neighbor across the channel by the International Olympic Committee (IOC). He finished second in the men’s 25 kilometer cycling race at the Paris Summer Games in 1900. “Even though Hildebrand was a British citizen, he was born and brought up in France, and competed for a French club before and after Paris 1900,” the IOC said in a statement. Gachet is a specialist when it comes to French Olympic medals, having published the Dictionary of French Olympics Medalists in 2011. “124 years later, at my request, the IOC Executive Board today approved the reallocation to France of the silver medal won by Lloyd Hildebrand at the Paris 1900 Olympic Games.

Persons: Lloyd Hildebrand, Hildebrand, Stéphane, Emmanuel Macron, Amélie, ” Gachet, “, ”, Gachet Organizations: France CNN —, Great Britain –, Team GB, International Olympic Committee, IOC, Paris Summer Games, Paris, Olympic Committees, Games, French, Club des Sports, Team, British Olympic Association, CNN Sport Locations: Paris, France, France CNN — France, Tottenham, London, Parisian, Levallois, British, Perret

☆ Massive drone strike suggests Ukraine is going after Russia's devastating glide bombs
▼ + stars: | 2024-04-30 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

AdvertisementUkraine's massive weekend drone attack on a Russian airbase deep behind enemy lines suggests Kyiv may be trying to curb the threat of Moscow's devastating glide bombs, according to new Western intelligence. Destroyed Russian glide bomb kits are visible in footage from the ground following the strike. Russia's defense ministry said in March that it began increasing production of several types of munitions — including 6,600-pound ones — that could be modified and turned into glide bombs. Saturday's strike on the Kushchyovskaya airbase isn't the first time Ukraine has gone after Russian airbases hosting fighter-bombers that can drop glide bombs. Experts have warned that Russian glide bombs pose a tremendous threat to Ukrainian forces.

Persons: —, Russia's Su, kgibcTnREI — Brady Africk, Brady Africk, Russian Su Organizations: Service, Saturday, Kyiv Independent, Ukrainian, American Enterprise Institute, Russian Defense Ministry, Getty, Institute for, Russian Locations: Russia, Kyiv, Ukrainian, Avdiivka, Moscow, Russian, Anadolu, Ukraine, Rostov

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

☆ Smaller climate startups face 'valley of death' as funding freezes up. This VC just raised $325 million to help
▼ + stars: | 2024-03-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Venture capital firm World Fund said Friday it's closed a 300 million euro ($325 million) fund to back startups tackling climate change. World Fund, a European climate technology investor incubated by the environment-conscious search engine Ecosia, said it had raised the cash despite a challenging environment for technology investing — and, in particular, climate technology investing. Investors have reeled from riskier tech-related bets after a jump in inflation and interest rates, which has surged dramatically since the Russia-Ukraine war in 2022. Central banks have hiked rates to stem inflation, which has in turn soured investor sentiment toward tech. "They've been like, sorry this is too much, you can't raise 300 million plus," Višević told CNBC.

Persons: Višević, They've Organizations: World, Silicon Valley Bank, CNBC, Private Locations: Russia, Ukraine, Central, Silicon

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Micron, Honeywell, Boeing, Snowflake, Zoom, Best Buy and more
▼ + stars: | 2024-03-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."

Persons: Goldman Sachs, Charles Schwab, Bernstein, –, Redburn, Cooper, Jefferies, ZM, Mizuho, Baird, KeyBanc, Raymond James, Morgan Stanley, Stephens, Guggenheim, Wells, Wells Fargo Organizations: Nvidia, Deutsche Bank, Northern Trust Deutsche Bank, Northern Trust, Apple, Google, Barclays, Cooper Companies, Citi, Honeywell, Honeywell International Inc, Union Pacific Corp, Mizuho, UBS, Boeing, Micron, TEAM, Logistics, Industries, JPMorgan, Systems, Bank of America, Avis Budget, OW, Equity, Accenture, Starbucks Locations: Snowflake, 2H24E, Truist

☆ Leaders should consider using frozen Russian assets to bolster Ukraine’s military, EU's von der Leyen says
▼ + stars: | 2024-02-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The European officials and Canada's Prime Minister are visiting the capital Kyiv on the second anniversary of the start of the Russian full-scale invasion in Ukraine. (Photo by STR/NurPhoto via Getty Images)European leaders should discuss using the profits from frozen Russian assets to boost Ukraine's military in its defence efforts against Moscow, European Commission President Ursula von der Leyen said Wednesday. "It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine," she said in a speech before the European Parliament. "There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live," von der Leyen noted. Crucially, frozen assets are, by definition, temporarily retained rather than fully seized with the ability for reallocation.

Persons: Ursula von der, Belgium Alexander De Croo, Giorgia Meloni, Canada Justin Trudeau, Ukraine Volodymyr Zelensky, Ursula von der Leyen, von der Leyen, Von der, Janet Yellen, Russia's Organizations: Canada's, Getty Images, European Union, Treasury, . Security, Bank Locations: Belgium, Italian, Canada, Ukraine, Kyiv, Russian, Moscow, Europe, Kuwait

☆ Figure skating’s global governing body defends its decision to not award Canada Olympic bronze in team event
▼ + stars: | 2024-02-09 | by ( Jill Martin | ) edition.cnn.com time to read: +3 min

CNN —The International Skating Union (ISU) released a statement Friday giving its explanation on why Canada did not move up to the bronze medal position in the 2022 Beijing Winter Olympics figure skating team event following the suspension of Russian figure skater Kamila Valieva, saying it implemented its rules correctly. If points had been updated for the other teams, Canada would have defeated the ROC by one point. The ISU shows the US with 65 points, Japan with 63, and Canada with 53 – unchanged from the 2022 Olympics. Following the figure skating team event at the 2022 Winter Olympics in Beijing, it emerged the then-15-year-old Valieva had tested positive for trimetazidine, a heart medication which can boost endurance. The positive test result came from a sample collected during the Russian national championships held prior to the Beijing Winter Olympics.

Persons: Kamila Valieva, Valieva, ”, “ Organizations: CNN, Skating Union, ISU, Canada, Sport, Russian Olympic Committee, Skate, Canadian Olympic Committee, Skating, ” CNN, Russian, Beijing Locations: Japan, Canada, Beijing

☆ Ukraine's troops work to advance on Russian-held side of key river after gaining footholds
▼ + stars: | 2023-11-18 | by ( ) www.cnbc.com time to read: +2 min

Ukraine's establishment of footholds on the Russian-held bank of the Dnieper represents a small but potentially significant strategic advance in the midst of a war largely at a standstill. The General Staff of Ukraine's armed forces said its troops there had repelled 12 attacks by the Russian army between Friday and Saturday. In response, the Russian military used "tactical aviation," including Iranian-made Shahed exploding drones, to try to pin down Ukraine's troops, Humeniuk said. Elsewhere, air defenses shot down 29 out of 38 Shahed drones launched against Ukraine, military officials reported. "The first priority of our budget — local budgets and the central budget — should be the army."

Persons: Natalia Humeniuk, Humeniuk, Maria Barbash Organizations: 123rd Territorial Defense Brigade, General, Southern Operational Command, Armed Forces Locations: Kherson, Ukraine, footholds, Russian, Russia, Crimea, Kyiv

☆ Russia will need to sacrifice air defense at its own borders to help cover gaps in Ukraine, UK intel says
▼ + stars: | 2023-11-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

Russia could be forced to sacrifice air defenses at its borders, UK intelligence said. Losses in Ukraine mean that key air defense weapons will likely need to be redeployed, it said. AdvertisementAdvertisementRussia may need to sacrifice air defenses protecting its borders to help cover gaps in the front lines in Ukraine, the UK Ministry of Defence said in an intelligence update on Thursday. Last week, Russia lost three S-400 Triumf missile systems in the Luhansk region, weakening its air defenses there, the MOD said. The British ministry added that Russia's struggle to keep its air defenses in place is proof the war is overstretching its military.

Persons: — Organizations: Service, UK Ministry of Defence, MOD, BBC, Reuters, Institute for Locations: Russia, Ukraine, Ukrainian, Luhansk, Crimea, Russian, Olenivka

☆ Bank of America says there are two things that will drive the next bull run in stocks
▼ + stars: | 2023-11-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Artificial intelligence's influence on increased productivity and a strong consumer could underpin the next bull run on Wall Street, according to Bank of America. "I think this is actually a very underappreciated bull case," she added. The "Magnificent Seven" stocks in the S & P 500 have been large growth drivers for Wall Street for most of 2023. As long as those factors don't change, we think that the consumer can hang in there," she said. "We've had a big move in rates, but companies have so far been able to withstand it.

Persons: Savita Subramanian, Subramanian, it's, We've, Michael Bloom Organizations: Bank of America, Wall, Nvidia, Apple, Federal Reserve, Survey

☆ Israeli economists urge Netanyahu to re-open the nation's budget to account for the war
▼ + stars: | 2023-10-30 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +2 min

Hundreds of influential Israeli economists are warning the government that it must make big economic changes quickly, including re-opening the country's budget, as the war with Hamas approaches its fourth week. The letter released Monday by the Israeli Economists' Forum calls on Prime Minister Benjamin Netanyahu and Minister of Finance Bezalel Smotrich "to wake up and start responding to the tough challenges that the Israeli economy faces." More than 200,000 Israelis, mostly from the south, have been forced to relocate due to the war with Hamas. In turn, the economists want Israel to make an unprecedented move to reopen the 2024 budget, which was passed in May, after a bitter political fight. It started after the deadliest terrorist attack in Israel's history Oct. 7, when Hamas militants tore through Israel's southern barrier killing 1,400 people and taking more than 200 hostages.

Persons: Lili Itamari, Ram Itamari, Aza, Benjamin Netanyahu, Finance Bezalel Smotrich, That's, Israel Organizations: Economists, Finance, Tel Aviv University's Coller School of Management Locations: Israel, Gaza, Kibbutz Ruhama, Tel Aviv, Lebanon, Syria

☆ A doping free-for-all Enhanced Games calls itself the answer to doping in sports. Opponents say it poses a danger to health
▼ + stars: | 2023-10-30 | by ( Molly Stazicker | ) edition.cnn.com time to read: +23 min

The Enhanced Games is the brainchild of businessman Aron D’Souza. Aron D'Souza is the founder of the Enhanced Games. But that isn’t the only potential legal jeopardy the Enhanced Games faces, according to American lawyer Jim Walden, who represents Russian whistleblower Grigory Rodchenkov. “If you look at the Enhanced Games website, it’s almost as though they’re advertising their disregard of the law,” Walden told CNN Sport. If it goes ahead as planned in December 2024, D’Souza insists that the Enhanced Games will unlock the potential of humanity.

Persons: Dr, Grigory Rodchenkov, –, Rodchenkov, Oscar, Aron D’Souza, ”, D’Souza, “, Raphael Faiss, Faiss, WADA, they’re, Aron D'Souza, ” WADA, Travis Tygart, Jim Walden, ” Walden, Alex Wong, ” Rodchenkov, USADA’s Tygart, ” D’Souza, he’d, “ They’re, Ben Johnson, Johnson, Mike Powell, Pierre de Coubertin –, Ben Johnson –, Eugene, Simona Halep, – Faiss, CNN Roxadustat, Michele Verroken, ” Verroken, Verroken, Hamish Coffey, ’, Brett Fraser, ” Fraser, “ I’ve, I’ll, Jess Ennis, Hill, CNN D’Souza, Trevor Painter, ” Painter, John William Devine, ” Devine, don’t, Martial Saugy Organizations: CNN, Olympics, ”, Testing Agency, ITA, International Olympic Committee, Olympic Games, IOC, CNN Sport, Netflix, Doping Agency, Research, University of Lausanne, United, United States Anti, US Drug Enforcement Administration, FBI, Sports, Gaming Initiative, “, Games, Seoul, London Games, Bettmann, Athletics Integrity Unit, National Institutes of Health, Sporting Integrity, Australian Olympic, Olympic, United States Patent, Sciences, Swansea University Locations: Paris, United States, Seoul, South Korea, Eugene , Oregon, Cayman Islands, Tokyo, Wales

☆ Analysis: Wall Street's 'Magnificent Seven' face moment of truth as earnings season arrives
▼ + stars: | 2023-10-19 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Valuations have swelled, with the Magnificent Seven trading at an average forward price-to-earnings ratio of 33.5, compared with the S&P 500's P/E of 18.3. “Everybody knows these guys are going to make money," said Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute (WFII), referring to the Magnificent Seven. "The reallocation of funds going forward is going to suggest lower returns and more difficulty for the Magnificent Seven to maintain their leadership." The seven companies' combined market capitalization topped 30% of the S&P 500's overall market value earlier this month, according to LSEG Datastream. Some investors are also drawing distinctions among the seven stocks.

Persons: Aly, Tesla, Sameer Samana, Tajinder Dhillon, Tim Pagliara, CapWealth, Pagliara, Elon Musk, LSEG Datastream, Torsten Slok, Patrick Kaser, Kaser, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: Apple, REUTERS, Microsoft, Nvidia, U.S, Tesla, Wells, Investment Institute, Google, Facebook, Federal, Treasury, “, Global, Apollo Global Management, Brandywine Global, Thomson Locations: Shanghai, China, Apple

☆ Advisors are seeing a huge reallocation towards alternative investments: CAIS CEO Matt Brown
▼ + stars: | 2023-10-16 | 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 EmailAdvisors are seeing a huge reallocation towards alternative investments: CAIS CEO Matt BrownMatt Brown, CAIS chairman and CEO, and Rob Sechan, CEO of NewEdge Wealth, join 'Halftime Report' to discuss the CAIS alternative investment summit, the growth of the private credit market, and more.

Persons: Matt Brown Matt Brown, Rob Sechan Organizations: NewEdge

☆ OECD publishes treaty that would replace national digital taxes
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +3 min

Ian Langsdon/Pool via REUTERS/File Photo Acquire Licensing RightsPARIS, Oct 11 (Reuters) - The Organisation for Economic Cooperation and Development (OECD) published a multilateral treaty on Wednesday that would replace a hodge-podge of national digital services taxes if ratified by enough countries. If ratified, the treaty requires that countries that have, or are planning, national digital services taxes drop them. Washington is particularly sensitive to that issue as many of such taxes were put in place to target big U.S. digital companies such as Google, Amazon and Apple. To enter into force, the 30 countries home to at least 60% of the affected multinational companies have to ratify the treaty, which means that the U.S. has to be on board. OECD head of tax Manal Corwin said failure to ratify the text could lead to "grave consequences" and not only because it could trigger a proliferation in the use of digital services taxes and trade retaliation.

Persons: Antony Blinken, Mathias Cormann, Ian Langsdon, Corwin, Leigh Thomas, Mark Potter Organizations: Organization for Economic Cooperation, Development, Rights, Economic Cooperation, Apple, OECD, Thomson Locations: OECD's, Paris, France, United States, U.S, Washington

☆ Explainer: What charges does Sam Bankman-Fried face over FTX's collapse?
▼ + stars: | 2023-10-03 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried is set to go on trial on Tuesday on fraud and conspiracy charges related to the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded and led. He faces one count of wire fraud, two counts of conspiracy to commit fraud, and one count of money laundering conspiracy over the alleged theft of customer funds. Bankman-Fried faces one wire fraud count and two conspiracy counts over the alleged misrepresentations to investors and lenders. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, Caroline Ellison, Ellison, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: United, REUTERS, Alameda Research, Alameda, Prosecutors, Thomson Locations: New York City, U.S, FTX, Bahamas, Alameda, New York

It is not even certain that the decline in China's U.S. import share represents a true delinking, they said. Yet in the background, the researchers noted that China had "stepped up" its trade and investment activity with Vietnam and Mexico, as well as other countries. "The U.S. could well remain indirectly connected to China through its trade and global value chain links with these third-party countries," they argued. Prices for goods from some countries, moreover, were beginning to rise. Reporting by Howard Schneider; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: JACKSON, deglobalization, Laura Alfaro, Davin Chor, Alfaro, Chor, What's, Howard Schneider, Paul Simao Organizations: Biden, Trump, Federal, Harvard Business School, Tuck School of Business, Dartmouth, Fed, Thomson Locations: , Wyoming, China, Ukraine, freefall, Jackson Hole , Wyoming, U.S, Vietnam, Mexico

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ A top-3% fund manager over the past 5 years explains how to ride momentum in markets and find under-the-radar winners overseas
▼ + stars: | 2023-08-09 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Instead of attempting to outsmart the market, Ivo Kovachev rides stocks' momentum. While many fund managers aim to buy beaten-down stocks before they rebound, Kovachev goes against the grain by riding momentum in markets. "We are humble guys — we listen to the market," Kovachev said in a recent interview with Insider. As its name suggests, Kovachev's JOHCM Emerging Markets Discovery Fund sticks to unnoticed stocks in developing international markets. Fortunately for stocks in emerging markets, Kovachev said their interest rates can finally fall as inflation declines alongside oil prices.

Persons: Ivo Kovachev, Kovachev, it's, Stephen Lew, Emery Brewer, J, he's Organizations: Market, Discovery Fund, J O Hambro Capital Management, Nvidia, Voltronic Power Technology, Ink Holdings, KPIT Technologies, Narayana Locations: Taiwan, China, Korea, India

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