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☆ Bridgewater's new executive team is already making big changes. But was it all part of Ray Dalio's master plan?
▼ + stars: | 2023-03-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

On tap, we've got stories on the top VCs in Texas, more headaches for Blackstone's BREIT, and why boomers stink. Maybe it's just the fear of facing your own mortality and realizing that life, in fact, will go on without you. As Rebecca Ungarino reports, the world's largest hedge fund is making a slew of new changes less than six months after billionaire founder Ray Dalio stepped aside. Bridgewater, which was founded in 1975 from Dalio's two-bedroom apartment, is arguably just as well known for its culture as its size. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) and Nathan Rennolds (tweet @ncrennolds) in London.

☆ M&G would be a tricky hop for kangaroo raider
▼ + stars: | 2023-03-02 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 2 (Reuters Breakingviews) - M&G (MNG.L) would be a tricky hop for Macquarie (MQG.AX). The $48 billion Australian financial powerhouse may bid for the $6 billion UK insurer. The appeal is likely to be in the fund management group. Macquarie’s own asset management arm accounted for over 30% of net profit in the first half of its current financial year. Follow @Unmack1 on TwitterCONTEXT NEWSAustralian banking group Macquarie is considering a bid for UK insurance and asset management group M&G, Sky News reported on March 1.

☆ Meet the 4 men tipped to run China’s economy
▼ + stars: | 2023-03-01 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —The team of Communist Party officials running China’s economy is about to get a major makeover. They include the four men tipped to manage the world’s second biggest economy: Li Qiang as premier, Ding Xuexiang as executive vice premier, He Lifeng as vice premier and Zhu Hexin as the new central bank chief. That puts the 63-year-old in line to succeed Premier Li Keqiang when he steps down during the upcoming congress. Li would be the first premier since the Mao era not to have previously worked at the State Council, China’s cabinet, as vice premier, analysts say. Stringer/ICHPL Imaginechina/AP/FileThe 68-year-old would succeed Vice Premier Liu He, who led China’s negotiations with the United States during trade talks in 2018 and 2019.

☆ Prison was 'brutal and distressing' says ex-Goldman Sachs banker who was locked up in Malaysia over the 1MDB scandal
▼ + stars: | 2023-03-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US authorities convicted an ex-Goldman Sachs banker of bribery and money laundering in the 1MDB scandal. Ng, who also spent time in a Malaysian prison, said conditions were "brutal and distressing." "Six months in the Malaysian prison had a devastating effect mentally and physically," Ng wrote in his letter. The Malaysian Prison Department did not immediately respond to Insider's request for comment. In 2020, the former leader was sentenced to 12 years in prison for breach of trust, abuse of power, and money laundering in connection with 1MDB.

☆ Philippines growth to hit at least 6% this year
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: 1 min

MANILA, Feb 27 (Reuters) - Economic growth in the Philippines will reach at least 6% this year, the central bank governor said on Monday, consistent with the government's 6%-7% target for 2023. Bangko Sentral ng Pilipinas Governor Felipe Medalla told an economic forum "pent-up" demand will be a key driver of growth this year. Reporting by Enrico dela CruzOur Standards: The Thomson Reuters Trust Principles.

Companies Goldman Sachs Group Inc FollowFeb 25 (Reuters) - Roger Ng, the former Goldman Sachs Group Inc (GS.N) banker convicted for helping to embezzle Malaysia's 1MDB sovereign wealth fund, appealed to a New York court on Saturday not to force him to spend more time in prison. A federal jury in Brooklyn convicted Ng in April last year of conspiring to violate an anti-bribery law and commit money laundering. Reuters was not immediately able reach Malaysian prison officials to comment on the conditions. Prosecutors said that he helped his former boss Tim Leissner embezzle money from the fund, launder the proceeds and bribe officials to win business for Goldman. Reporting by Shivani Tanna and Chandni Shah in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Democratic Rep. Judy Chu, the first Chinese American woman elected to Congress, blasts a Texas GOP congressman after he questioned her loyalty to the US: 'It is racist'
▼ + stars: | 2023-02-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

Judy Chu criticized Lance Gooden after he seemingly questioned her "loyalty" to the US on Fox News. "I think she has drug along the other Chinese American members to sign this letter. I very much doubt that he would be spreading these lies were I not of Chinese American descent." "Lance Gooden's slanderous accusation of disloyalty against Rep. Chu is dangerous, unconscionable and xenophobic," Jeffries said in a statement. Rep. Gooden accused Democrats of bringing up race after his criticism of Rep. Chu.

☆ Avoid this 'big mistake'—and more tips for new runners, from a running coach and a personal trainer
▼ + stars: | 2023-02-25 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

But if you're interested in running, you may be wondering how to start and what you'll need to jump in to this new hobby. CNBC Make It reached out to Kai Ng , a running coach and Ashleigh Kast , a personal trainer with years of running experience for advice for new runners. If you're looking for an exercise you can do from anywhere , you've probably already considered running. "When I'm starting people on a running program, I'm not saying 'Here just go out on this hour-long run,'" she says. After establishing what your focus will be, Ng says you should learn how to run properly by training with a coach.

It's big what happens to Jules," Freeman told Reuters of the film, which premiered at the Berlinale film festival last Sunday. For George MacKay, playing the role of Preston was a chance to tap into currents in his own personality. While the film will especially appeal to LGBTQ+ viewers, its moving human story and racy plot has something for everyone, Freeman said. "This is a film that is for queer audiences, but it's also a film for all audiences," he said. "The queer is a label that we proudly attach to it, but it's not all that it is."

☆ Bearish bets on Asian FX return on renewed woes over Fed rate hikes - Reuters poll
▼ + stars: | 2023-02-23 | by ( Tejaswi Marthi | ) www.reuters.com time to read: +3 min

[1/4] A Singapore dollar note is seen in this illustration photo May 31, 2017. However, recent comments from the Fed about hiking rates for longer dampened sentiment. They turned bearish on the Thai baht , Asia's best-performing currency this year, the Singapore dollar and the Malaysian ringgit for the first time in three months. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. The survey findings are provided below (positions in U.S. dollar versus each currency):Reporting by Tejaswi Marthi in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ We're clear about our relationship with China in the Indo-Pacific strategy, says Canadian minister
▼ + stars: | 2023-02-21 | 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 EmailWe're clear about our relationship with China in the Indo-Pacific strategy, says Canadian ministerMary Ng, Canada's minister of international trade, export promotion, small business and economic development, says there will be areas that Canada will "absolutely challenge" China on, "but diversification, for me as a trade minister, is the job."

☆ Canada trade minister says trade talks with Taiwan are part of a larger Indo-Pacific strategy
▼ + stars: | 2023-02-21 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Canada's decision to enter formal bilateral trade talks with Taiwan is part of a broader strategy for the Indo-Pacific region, its minister of international trade told CNBC Tuesday. The two sides agreed on Feb. 7 to begin formal negotiations on a trade agreement in order to strengthen trade and investment. Bilateral trade between Canada and Taiwan reached $5.82 billion in 2022, according to Taiwan's official statistics. Taiwan is Canada's 13th largest trading partner globally, and its 5th largest trading partner in Asia. Taiwan's exports to Canada amounted to $3.3 billion last year, and Canada exports to Taiwan amounted to $2.52 billion in the same period, according to that data.

☆ China's housing market will probably continue to drag on growth in the short term, says JPMorgan
▼ + stars: | 2023-02-20 | 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 EmailChina's housing market will probably continue to drag on growth in the short term, says JPMorganGrace Ng of JPMorgan says China's housing market is unlikely to return to being a major driver of growth in the medium to long term.

☆ Column: The devil's metal strikes again in Trafigura nickel fraud case
▼ + stars: | 2023-02-17 | by ( Andy Home | Thomson Reuters | Senior Metals Columnist Who Previously Covered Industrial Metals Markets For Metals Week | ) www.reuters.com time to read: +7 min

Appearances can be deceptive when it comes to nickel, as Trafigura has just found out half a millennium later. Just as it's impossible to say whether some of the recent price volatility on the LME nickel contract was down to Trafigura restructuring hedge positions. The problem is that LME nickel trading has been volatile and unpredictable ever since last year's meltdown. There is now also a growing crisis of confidence in the world of physical nickel trading. Nickel could really do with a reputational break but recent history suggests it's just a matter of time before the devil's metal strikes again.

☆ We want year-on-year inflation to be lower than 4% by year-end: Philippine central bank chief
▼ + stars: | 2023-02-17 | 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 EmailWe want year-on-year inflation to be lower than 4% by year-end: Philippine central bank chiefFelipe Medalla, governor of the Bangko Sentral ng Pilipinas, says inflation remains the "primary concern."

☆ Pressure Mounts on CIOs to Build More AI Apps (and Faster)
▼ + stars: | 2023-02-16 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

Magesh Sarma, chief information and strategy officer for AmeriSave Mortgage Corp., said his team has been inundated with requests to build AI apps aimed at tackling various cost issues. But the AI team, which consists of 76 employees, has been one of the least affected because of its business value. Ms. Anderson has a system for evaluating the priority level of different possible machine-learning projects that come to her department via a request pipeline, she said. Photo: ERIC GAILLARD/REUTERSOne area she hasn’t been able to fully tackle is machine-learning algorithms to help with customer retention. “With AI, it’s an incremental sort of approach.”Adding to the pressure is the exploding popularity of ChatGPT and other generative AI applications.

Feb 16 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Or rather, it is the reaction of world markets and risky assets to the repricing that is increasingly defying logic. This has come amid an astonishing rise in U.S. bond yields, market-based implied rates, and Fed policy expectations. According to U.S. 'SOFR' rate futures the implied year-end Fed policy rate is now above 5% - four months ago it was 4%, and six months ago it was only 3%. chartIn Asia, Bank Indonesia (BI) is expected to leave its key interest rate unchanged at 5.75%, which could mark the end of a short six-month long hiking cycle.

☆ Expect to see better earnings from Straits Times Index constituents: Singapore Exchange
▼ + stars: | 2023-02-09 | 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 EmailExpect to see better earnings from Straits Times Index constituents: Singapore ExchangeNg Yao Loong, chief financial officer at the Singapore Exchange, says it is "situated in the right part of Asia," and better performance can be expected if economic conditions permit and if those constituents are able to execute their growth plans.

We're buying 150 shares of Coterra Energy (CTRA) at roughly $23.84. One of the biggest commodity stories this year has been the significant decline in the price of natural gas. After peaking at around $10 per million British thermal units back in August, the price of nat gas has pretty much fallen off a cliff. Our other pure exploration and production stocks — Devon Energy (DVN) and Pioneer Natural Resources (PXD) — are far less tied to nat gas. A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, February 10, 2019.

Summary Jan CPI at fresh 14-year high of 8.7%Faster-than-expected inflation raises odds of bigger rate hikeEconomic planning chief says inflation to moderate this yearMANILA, Feb 7 (Reuters) - Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices, raising the chance of the central bank delivering a bigger interest rate hike to tame prices when it meets this month. Given the faster-than-expected inflation in January, Bangko Sentral ng Pilipinas (BSP) looks certain to hike interest rates by at least 25 basis points and with a bigger 50 bps likely to be on the table, ING economist Nicholas Mapa said in a Tweet. The Philippines' broader stock index (.PSI) dropped 0.4% in early trade on expectations of a larger rate hike, while the peso had slipped 0.5% at 54.73 per dollar as of 0211 GMT. The main factor behind January's red-hot inflation was the 11.2% annual rise in food inflation, the quickest pace since 2009, and compared to the previous month's 10.6%, and the 1.6% rate in the same month last year. Elevated inflation, plus the need to maintain interest rate differentials between the U.S. and the Philippines, have forced the central bank to embark on aggressive tightening, with the benchmark rate (PHCBIR=ECI) rising by a total of 350 bps last year.

Forty-seven pro-democracy figures in Hong Kong have been accused of a conspiracy to commit subversion in a landmark political case. Benny Tai, 58, was a professor of law at the University of Hong Kong. Pro-democracy primary Pro-democracy candidates held a primary vote ahead of the upcoming Legislative Council election. The 47 defendants helped organize or participated in this event. New election rules announced China announced new rules for Hong Kong elections, limiting candidates to only those deemed loyal to Beijing.

☆ Coterra, Danaher and TJX Companies are in the news. Here's our take on the headlines
▼ + stars: | 2023-02-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

A trio of Club stocks — Coterra Energy (CTRA), Danaher (DHR) and TJX Companies (TJX) — are in the news Monday. The multiweek slide in natural gas prices is at the heart of Raymond James' downgrade because Coterra's revenue is split roughly 50-50 between natural gas and oil. @NG.1 5Y mountain Natural Gas prices over 5 years The Club's take: The decline in natural gas prices is undoubtedly going to affect the amount of cash Coterra generates and then returns to shareholders via its fixed-plus-variable dividend strategy and buybacks. We're not heading for the exits on Coterra despite the decline in natural gas prices. A photo of a natural gas flare burning near an oil pump jack at the New Harmony Oil Field in the U.S. on June 19, 2022.

☆ Philippines central bank to focus on inflation at next policy meeting -governor
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: 1 min

MANILA, Feb 4 (Reuters) - The Philippine central bank will focus on inflation rather than the Federal Reserve's recent policy action when it meets on Feb. 16 to review key interest rates, its governor said on Saturday. "Next meeting will focus on inflationary expectations in PH, not the Fed's 25 bps rate increase," Bangko Sentral ng Pilipinas Governor Felipe Medalla told reporters in a phone message. Philippine inflation was likely to be within a range of 7.5% to 8.3% in January, the central bank said on Tuesday, following the 8.1% rate in December, which was a 14-year high. The statistics agency will release inflation data on Feb. 7. Reporting by Karen Lema Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ China's Tencent wants to expand its presence in Singapore — and Chinese tourists are a big reason
▼ + stars: | 2023-02-03 | by ( Kimberley Kao | ) www.cnbc.com time to read: +3 min

Budrul Chukrut | Sopa Images | Lightrocket | Getty ImagesTencent is expanding its presence in Singapore — and China's a big reason. The Chinese tech giant has struck new partnerships with Singapore businesses such as ride-hailing app Grab through its digital messaging app, WeChat/Weixin. In Grab's mini-program, Chinese travelers can also choose to pay via WeChat/Weixin Pay in Chinese yuan. "Chinese travelers represented the largest group of non-Southeast Asian users using the Grab app in 2019," he added. Singapore did not tighten travel restrictions for Chinese travelers after China announced the easing of its border controls.

☆ There's a buzz about green hydrogen. But pink, produced using nuclear, may have a huge role to play too
▼ + stars: | 2023-02-03 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +7 min

In this article EDF-FRNG.-GBTSLA Follow your favorite stocks CREATE FREE ACCOUNTBoth pink and blue have been used to differentiate between different methods of hydrogen production. Indeed, according to a Sept. 2022 tracking report from the International Energy Agency, low-emission hydrogen production in 2021 accounted for less than 1% of global hydrogen production. These include green hydrogen, which refers to hydrogen produced using renewables and electrolysis, with an electric current splitting water into oxygen and hydrogen. "But splitting water takes energy, so what pink hydrogen is about is splitting water using energy that has come from nuclear." This needed "supportive policies which encourage investment in early hydrogen production projects and encourage users to switch from fossil fuels to low carbon hydrogen."

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