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☆ Bill Ackman says it is a 'near certainty' that academics will improperly cite others' work after his wife admitted to plagiarism
▼ + stars: | 2024-01-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Read previewBillionaire hedge fund manager Bill Ackman softened his tone on academic dishonesty after a report by Business Insider found his wife, Neri Oxman, plagiarized portions of her doctoral dissertation. A representative for Ackman declined to respond to questions from BI regarding his statements about plagiarism. Similar allegations against Gay and OxmanGay was accused in mid-December of plagiarizing portions of multiple academic articles, including her political science dissertation. Oxman has since admitted to the plagiarism , apologized, and pledged to review her sourcing and request corrections to her work as needed. However, a representative for the university told BI, "Our leaders remain focused on ensuring the vital work of the people of MIT continues, work that is essential to the nation's security, prosperity and quality of life."

Persons: —, Bill Ackman, Neri Oxman, Ackman —, Claudine Gay, Ackman, Gay, Oxman Gay, Christopher Rufo, Christopher Brunet, Oxman, Jonathan Bailey, Harvard didn't, Elise Stefanik, Elizabeth Magill, Sally Kornbluth, Kornbluth, Magill, Gay's, Ackman ominously Organizations: Service, Business Insider, Business, Harvard, Washington Free Beacon, New York Post, MIT, New York, University of Pennsylvania, Ackman, Kornbluth, BI Locations: Israel

☆ Bill Ackman says he'll review all MIT professors for plagiarism
▼ + stars: | 2024-01-06 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Bill Ackman is ramping up his search for plagiarism and pledged to review all MIT professors' work. Ackman led the charge to get Harvard president Claudine Gay to resign over plagiarism accusations. AdvertisementBill Ackman is ramping up his crusade against plagiarism to include the work of all Massachusetts Institute of Technology professors after Business Insider reported on several instances of plagiarism found in academic work by his wife, Neri Oxman, a tenured MIT professor. We will begin with a review of the work of all current @MIT faculty members, President Kornbluth, other officers of the Corporation, and its board members for plagiarism." Business Insider told us that they are publishing their story… — Bill Ackman (@BillAckman) January 5, 2024A representative for Ackman did not immediately respond to a request for comment from BI.

Persons: Bill Ackman, Ackman, Claudine Gay, —, Neri Oxman, Gay, Kornbluth, @NeriOxman, Liz Magill, MIT's Sally Kornbluth, Critics, Magill, Wharton, Gay's Organizations: MIT, Service, Massachusetts Institute of Technology, Business, Oxman, Israel, Corporation, University of Pennsylvania, Penn

☆ These Middle East flashpoints could trigger regional conflict that impacts oil prices
▼ + stars: | 2024-01-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +9 min

There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact on oil, according to the firm. Those flashpoints are the Red Sea, Lebanon and Iraq, analyst Helima Croft wrote in a note to clients this week. Crude prices fell Tuesday despite renewed attacks by Houthi militants in the Red Sea over the weekend. Maersk stopped shipping through the Red Sea again and is rerouting vessels around the Cape of Good Hope in South Africa. Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.

Persons: Helima Croft, Croft, Adi Imsirovic, Imsirovic, Steven Schoenfeld, Schoenfeld, Goldman Sachs, Tehran's Houthi, Donald Trump ratcheted, Biden, Benny Gantz, Israel, Saleh al, Joe Biden, Trump, Qasem Soleimani Organizations: RBC Capital Markets, Maersk, West Texas Intermediate, CNBC, Tuesday, Traders, Investors, Center for Strategic, International Studies, U.S, Prosperity, U.S . Navy, U.S . Central Command, JPMorgan, Israel Defense Forces, Three U.S, Washington Locations: Israel, Sea, Lebanon, Iraq, Red, Danish, Libya, Russia, Ukraine, Iran, U.S, Yemen, The U.S, Mandeb, Aden, Britain, Hangzhou, South Africa, Suez, Asia, Europe, Hormuz, Islamic Republic, Tehran, Beirut, Croft, Erbil, Three

☆ Baby boomers did one big thing we should all be grateful for
▼ + stars: | 2024-01-02 | by ( Andy Kiersz | ) www.businessinsider.com time to read: +11 min

The boomers had it great, the argument goes, but then they went and screwed it all up. For one thing, baby boomers didn't have it easy: The America they grew up in was poorer, less educated, less healthy, and more unfair than the society we live in today. To better understand how individuals and families are experiencing the economy, it's important to look at wages, income, and wealth. Boomers have consistently passed laws to make building housing harder, leaving the country with a structural housing deficit. Beyond the economy, the boomers have handed off other deep problems that the younger generations will have to solve.

Persons: Gen Zers, Zers, millennials, Norman Rockwell, —, they've, we're, it's, Zer, Andy Kiersz Organizations: Black, Boomers, Business Locations: America

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

☆ Red Sea crisis: Who are the Houthis and why are they attacking ships?
▼ + stars: | 2023-12-19 | by ( Christian Edwards | ) edition.cnn.com time to read: +10 min

CNN —Yemen’s Iran-backed Houthi rebels are stepping up their strikes on ships in the Red Sea, which they say are revenge against Israel for its military campaign in Gaza. While the Houthis may not be able to pose a serious threat to Israel, their technology can wreak havoc in the Red Sea. Video Ad Feedback Video shows moment Houthi rebels storm cargo ship in the Red Sea 02:30 - Source: CNNWhy are the Houthis attacking ships in the Red Sea? A number of countries have taken steps to try and push back Houthi aggression in the Red Sea region. The United Nations Security Council has meanwhile approved a resolution calling on Yemen’s Houthi rebel group to “cease its brazen” attacks in the Red Sea.

Persons: CNN —, Israel, Biden, Allah, Hussein, ”, Zaidis, Khaled Abdullah, aren’t, Israel –, Carney, Yemen’s, Joe Biden, ” Biden, “, Houthis “, ” Sare’e, Mohammed al, Al Jazeera Organizations: CNN, CNN — Yemen’s, United, Hamas, Reuters, UN, United Nations Development Programme, United Nations Office, Humanitarian Affairs, Center for Strategic, International Studies, US, Maersk, Lloyd, CMA CGM, Evergreen, United Arab Emirates, Prosperity, United Nations Security Locations: CNN — Yemen’s Iran, Red, Gaza, United States, United Kingdom, Yemen, Iran, Islam, Saudi Arabia, Saudi, Sanaa, Iran’s, Israel, Islamic Republic, Hezbollah, Lebanon, Tehran, Eilat, Suez, Egypt, Hapag, Africa, Russia, China, Britain, Palestine

☆ Will 2024 bring good tidings to media and telecom companies? That's unlikely
▼ + stars: | 2023-12-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Still, legacy media companies including Disney, Paramount Global, Warner Bros. Since the "Great Netflix Correction" of 2022, there isn't a unifying growth narrative for media and entertainment companies. Disney, Paramount Global and NBCUniversal have all pegged 2025 as their flagship streaming services' first full year of profitability. Beyond financial metrics, several executives privately acknowledged morale has become an increasing concern at legacy media companies. One executive noted he's increasingly hearing from peers that running media and entertainment companies just isn't as fun as it was five or 10 years ago.

Persons: Corey Martin, Granderson Des Rochers, Martin, Jerome Powell, Liu Jie, Shari Redstone, David A, CNBC Shari Redstone, Biden, Sinclair, Lina Khan, Joe Biden, Khan, There's, John Harrison, Brian Roberts, Drew Angerer, Donald Trump, Trump, David Zaslav, Michael M, Disney, Nelson Peltz, Jay Rasulo, Bob Iger, he's, LightShed's Rich Greenfield Organizations: Universal Studios, Warner Bros . Discovery, Disney, Paramount Global, Comcast, Granderson, U.S, Federal, Washington , D.C, Xinhua News Agency, Getty, Treasury, Federal Reserve, Allen, Co . Media, Technology Conference, Grogan, CNBC, Trump, Nexstar, Gray Television, Federal Trade, Verizon, Mobile, NBCUniversal, CBS, NBC, EY, Allen & Company Sun Valley Conference, Trump's Department, Justice, Time Warner, Republican, Democratic, Netflix, Cable, Warner Bros, New York Times, Santiago, Getty Images Media, Management, Paramount Locations: Washington ,, United States, Sun Valley , Idaho, Tegna, Europe, U.S, EY Americas, New York City

☆ U.S. launches Operation Prosperity Guardian to defend Red Sea shipping lanes from Houthi attacks
▼ + stars: | 2023-12-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. officials on Monday expanded a multinational maritime force in the Red Sea to defend against escalating attacks from the Iran-backed Houthi rebels, which have impeded international shipping routes. The new defense, named Operation Prosperity Guardian, builds on the power of the Combined Maritime Forces, a 39-member international coalition. A subdivision of the forces, called Task Force 153 is dedicated to the Red Sea. Oil giant BP announced Monday it would temporarily suspend its shipping in the Red Sea, joining companies like shipping firms Maersk, MSC and others. Operation Prosperity Guardian will aim to deter further Houthi attacks as the U.S. eyes potential flare-ups of regional conflict amid the Israel-Hamas war.

Persons: Lloyd Austin, hadn't, John Kirby Organizations: Prosperity, Combined Maritime Forces, U.S . Navy Fifth Fleet, Security, Task Force, BP, Maersk, MSC Locations: Sana'a, Yemen, U.S, Iran, Bahrain, Suez, Red, Israel

☆ GOP debate stage shrinks to four candidates
▼ + stars: | 2023-12-05 | by ( Bridget Bowman | ) www.cnbc.com time to read: +3 min

MIAMI, FLORIDA - NOVEMBER 08: Republican presidential candidates (L-R) former New Jersey Gov. Ron DeSantis and Vivek Ramaswamy participate in the NBC News Republican Presidential Primary Debate at the Adrienne Arsht Center for the Performing Arts of Miami-Dade County on November 8, 2023 in Miami, Florida. Five presidential hopefuls squared off in the third Republican primary debate as former U.S. President Donald Trump, currently facing indictments in four locations, declined again to participate. (Photo by Joe Raedle/Getty Images)This week's GOP presidential primary debate will have the smallest stage yet, with just four candidates facing off Wednesday night, the Republican National Committee announced Monday. "The fourth debate is another fantastic opportunity for our Republican candidates to share our winning agenda with the American people," RNC Chairwoman Ronna McDaniel said in a statement announcing Wednesday's participants.

Persons: Chris Christie, Nikki Haley, Ron DeSantis, Vivek Ramaswamy, Adrienne Arsht, Donald Trump, Joe Raedle, Kelly, Christie, Trump, Haley, She's, Koch, Ronna McDaniel, Reagan, I'm, It's, DeSantis Organizations: Republican, New, New Jersey Gov, Florida Gov, NBC News, Adrienne, Adrienne Arsht Center, Performing Arts of Miami, Republican National, NewsNation, Washington Free, Fox News, Iowa Republican, NBC, Des Moines Register, GOP, Prosperity, University of Alabama, Hawkeye State Locations: MIAMI, FLORIDA, New Jersey, Florida, Dade County, Miami , Florida, Alabama, Tuscaloosa, Iowa

The personnel shake-up follows growing frustration among campaign staffers over the effectiveness – or lack thereof – of the PAC’s spending. “It’s not so good,” Carol Weissert, political science professor at Florida State University, says about the state of the DeSantis campaign. To be sure, DeSantis has put in the work in Iowa, having completed his 99-county tour this week. The polling average as of Dec. 4 shows Trump with 45% support in Iowa, with DeSantis at 17% and Haley at 15%. She eclipsed DeSantis for the first time this week in Iowa in a poll by Americans for Prosperity, which is supporting her campaign, showing Haley 1 percentage point ahead of DeSantis – 17% to 16%.

Persons: Ron DeSantis, Christian Ziegler, Bridget Ziegler, Zieglers, –, “ It’s, ” Carol Weissert, it’s, “, Trump, ”, ” DeSantis, DeSantis, he’ll, Nikki Haley, Vivek Ramaswamy, Chris Christie, he’s, Haley, Trump’s, Jamie Dimon, ” “ We’ve, Jacob Neiheisel, Neiheisel Organizations: Iowa, Florida Gov, GOP, PAC, Sunshine, Republican, Liberty, Florida State University, Trump, Republican Party, South Carolina Gov, New, New Jersey Gov, DeSantis, Koch, Prosperity, University of Buffalo Locations: Florida, Trump, New Jersey, Tuscaloosa , Alabama, Iowa, Georgia’s Fulton County

☆ Supply chains, trade top agenda for Yellen Mexico trip
▼ + stars: | 2023-12-04 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen hosts Leaders from Americas Partnership for Economic Prosperity (APEP) countries at the Treasury Department in Washington, DC, on November 3, 2023. WASHINGTON — Treasury Secretary Janet Yellen will travel to Mexico City this week to strengthen economic ties with America's top trading partner, the Treasury Department said Monday. Yellen will meet with Mexican counterparts, including President Andres Manuel Lopez Obrador, from Dec. 5-7 on creating supply chains spanning the bordering nations to spur job growth and bolster economic security, according to a release. Imports and exports between the U.S. and Mexico reached nearly $600 billion so far in 2023, per the International Trade Administration, and exceeded $850 billion in 2022, according to Treasury. Direct investments between the nations include manufacturing, wholesale trade, real estate and finance and insurance, according to the U.S. Trade Representative.

Persons: Janet Yellen, Yellen, Andres Manuel Lopez Obrador, Joe Biden, Xi Jinping Organizations: Americas Partnership, Economic Prosperity, Treasury Department, WASHINGTON —, Mexican, U.S, International Trade Administration, Treasury, U.S . Trade, Jalisco Nueva Generacion, U.S . Locations: Washington ,, Mexico City, Mexico, United States, Jalisco, U.S

The political branch of the powerful Koch network is facing scrutiny as operatives chafe against a decision to endorse Nikki Haley for president that many see as out of step with their values. A day later, Maidment was "terminated" from the organization, he said, and he told NBC News that he is not the only one within the Koch-backed group who is disappointed in the Haley endorsement. As the group started to see public criticism from those with ties to AFP, Seidel sent some AFP leaders an email about the overall response. "Some of you may have seen some recent public posts from some colleagues who disagree with AFP Action's endorsement," Seidel wrote in the email. If Trump feels Koch moved the needle for Haley, he'll have more interest in working with them.

Persons: Nikki Haley, Koch, —, Chris Maidment, Haley, Maidment, Mark Lucas, Donald Trump, Trump, Lucas, Ron DeSantis, Emily Seidel, Seidel, Mark Holden, Marc Short, Mike Pence, he'll, I'm, Jamie Dimon Organizations: U.S, United, Prosperity's, PAC, GOP, Prosperity, NBC News, Koch, AFP, Trump, White, NBC Locations: Hooksett , New Hampshire, U.S, New Hampshire, Iowa, Cedar Rapids, Florida, AFP

☆ What are leaders saying at the UN climate summit?
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +3 min

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan walks with Brazil's President Luiz Inacio Lula da Silva, alongside other world leaders and delegates, at Dubai's Expo City ahead of the World Climate Action Summit during the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates,... Acquire Licensing Rights Read moreDUBAI, Dec 2 (Reuters) - World leaders addressed the COP28 summit on Saturday, where their countries' delegations are assessing progress towards meeting global climate goals. Because for every dollar that we spend before disaster, we can save $7 in damage, and indeed loss of lives. Leaders who deny climate science, delay climate action and spread misinformation. Corporations that greenwash climate inaction and lobby for billions of dollars in fossil fuel subsidies. ___For daily comprehensive coverage on COP28 in your inbox, sign up for the Reuters Sustainable Switch newsletter here.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Luiz Inacio Lula da Silva, OLAF SCHOLZ, there's, POPE FRANCIS, State Cardinal Pietro Parolin, KAMALA HARRIS, William James, Elizabeth Piper, Nandita Bose Organizations: United, United Nations, Change, Vatican, State, Reuters, Thomson Locations: United Arab Emirates, Dubai, DUBAI, BARBADOS

☆ Ron DeSantis is running the Iowa playbook — and hoping that’s what still counts
▼ + stars: | 2023-12-02 | by ( Alec Hernández | Bianca Seward | ) www.cnbc.com time to read: +8 min

Ron DeSantis' campaign is announcing the completion of a longtime campaign pledge Saturday: touring all of Iowa's 99 counties, a milestone for a campaign that has devoted significant resources to the first-in-the-nation contest. On paper, DeSantis has made significant strides in running a traditionally successful Iowa campaign, racking up influential endorsements and dedicating significant time, personnel and financial resources to the state. And while the DeSantis campaign, with significant super PAC help, has stayed focused on Iowa, it remains unclear just what the traditional Iowa playbook counts for in this unusual modern campaign against Trump. "Winning an Iowa caucus requires a strong combination of outworking and out-organizing the competition and that's been the Ron DeSantis model. Inside the sprint to the caucusesStill, the DeSantis playbook in Iowa hardly stops at the "Full Grassley."

Persons: Ron DeSantis, Scott Olson, Sen, Chuck Grassley, Donald Trump, Nikki Haley, DeSantis, haven't, Biden, Sparks, Newsom, Trump, Former Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Mike Huckabee, Santorum, Michele Bachmann, Ryan Binkley, Red Oak, Iowa Sen, Joni Ernst, —, Grassley, Andrew Romeo, that's, Kim Reynolds, Bob Vander Plaats, Reynolds, Vander, Iowans, Haley, Joe Biden, She's, Olivia Perez, David Hansen, Hansen, Tim Scott Organizations: Florida, Machine, Getty, Florida Gov, United Nations, Iowa, NBC, White, Trump, Presidential, Former Pennsylvania, Republican, NBC News, Des Moines Register, Prosperity, Waterloo Locations: Davenport , Iowa, Newton , Iowa, Florida, Arizona, Iowa, Former, Texas, Iowa's, Wright, Des Moines, Red, New Hampshire, Iowa , New Hampshire, South Carolina, Ron DeSantis ' Iowa, Midwest, Plainfield

But the Florida governor's moment, like much of his campaign, will take place under the towering shadow of former President Donald Trump. Around the same time DeSantis is set to take the stage Saturday afternoon in Newton, Iowa, Trump will be addressing cheering supporters about 100 miles away in Cedar Rapids. Just six weeks are left before the Jan. 15 Iowa caucuses, which DeSantis has said he “absolutely” expects to win. He's bet his campaign on the state, winning key endorsements from Iowa Gov. Trump’s campaign said the timing of the Cedar Rapids event compared to DeSantis’ 99th county celebration was coincidental.

Persons: Ron DeSantis, Donald Trump, Trump, DeSantis, He's, Kim Reynolds, Bob Vander Plaats, ” Reynolds, “ He's, —, Nikki Haley, Koch, Ryan Binkley, Ron DeSantis can’t, Nikki ‘ Birdbrain ’ Haley, ”, Reynolds, “ Organizations: DES, Iowa Gov, United Nations, Prosperity, Trump Locations: DES MOINES, Iowa, Florida, Newton , Iowa, Cedar Rapids, Des Moines, Jasper County

SIMI VALLEY, Calif. (AP) — Defense Secretary Lloyd Austin on Saturday denounced those who advocate “an American retreat from responsibility” and said sustained U.S. leadership is needed to help keep the world as safe, free and prosperous as possible. He also urged Congress to end the partisan gridlock that has stalled the federal budget and war spending. Those who “try to pull up the drawbridge,” he said, undermine the security that has led to decades of prosperity. Political Cartoons View All 1277 Images“You’ll hear some people try to brand an American retreat from responsibility as bold new leadership,” Austin said. About 100 hostages were freed as part of the truce, but about 140 remain held by Hamas and others in Gaza.

Persons: Lloyd Austin, “, Austin, ” Austin, Donald Trump’s “, Vladimir Putin, Sen, Tommy Tuberville, Tuberville Organizations: —, Reagan National Defense, Senate Armed, Committees, Senate, Administration, Pentagon, Republicans, Senior, Hamas Locations: SIMI VALLEY, Calif, United States, Simi Valley, Israel, Ukraine, Austin, Europe, Israeli, Gaza

MOUNTAIN VIEW, California (AP) — From underwater drones to electronic warfare, the U.S. is expanding its high-tech military cooperation with Australia and the United Kingdom as part of a broader effort to counter China’s rapidly growing influence in the Indo-Pacific. Defense Secretary Lloyd Austin met with defense chiefs from Australia and the United Kingdom at the U.S. military’s defense technology hub in Silicon Valley on Friday to forge a new agreement to increase technology cooperation and information sharing. The three nations have laid out plans for the so-called AUKUS partnership to help equip Australia with a fleet of eight nuclear-powered submarines. AUKUS is an acronym for Australia, the United Kingdom and the United States. He added that as an island nation, Australia has a need for improved maritime drones and precision strike capabilities.

Persons: Lloyd Austin, ” Austin, Richard Marles, Grant Shapps, Austin, Marles, Shapps, we’ve, aren’t, Adam Bry, Alex Horn, Horn Organizations: Pacific . Defense, Australian Defense, Defense Innovation Unit, Britain, U.S, Australian Navy, Solomon Islands, warfighters, Air Force, Morris Air National Guard Base Locations: California, U.S, Australia, United Kingdom, Silicon Valley, United States, Virginia, Adelaide, China, Pacific, South China, Beijing, Solomon, Taiwan, DIU, Arizona

☆ Zepz, a $5 billion fintech unicorn, is laying off more staff
▼ + stars: | 2023-11-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Zepz, the money transfer group that owns WorldRemit, made a fresh round of layoffs. "Zepz has entered a redundancy consultation which will could affect less than 2% of its global headcount," a Zepz company spokesperson said in an exclusive statement to CNBC. "Zepz values the contributions these colleagues have made to our company," the spokesperson added. "To fully realise our mission to unlock the prosperity of cross-border communities, we sometimes need to make tough decisions," Zepz told CNBC. The business was last valued at $5 billion, making it one of the largest and most valuable fintech companies in Europe.

Persons: Zepz, Zepz hasn't Organizations: TCV, CNBC, Sendwave Locations: British, Europe

☆ Analysts at China's CICC told not to publish bearish views, wear luxury items -memo
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The company logo of China International Capital Corporation Ltd (CICC), China’s first joint venture investment bank, is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. Additionally, staff at the state-owned investment bank have been asked to not wear luxury brands or disclose their pay. Employees should "make sure their family members adhere to social and ethical standards", the memo said. Banks have also been forced to cut pay and perks for investment bankers, including compensation and budget reductions for travel and entertainment. Reuters reported in April that CICC slashed bankers' bonuses by as much as 40%.

Persons: China’s, Bobby Yip, CICC, Banks, Selena Li, Jason Xue, Sumeet Chatterjee, Edwina Gibbs Organizations: China International Capital Corporation, REUTERS, China International Capital Corp, HK, Reuters, Bloomberg, Thomson Locations: Hong Kong, China, HONG KONG, dealmaking

☆ Henry Kissinger was so revered in China that Xi Jinping personally called him an 'old friend' while snubbing Biden officials
▼ + stars: | 2023-11-30 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Henry Kissinger was so well-loved in China that Xi Jinping called him an "old friend" in July. China re-affirmed Xi's exact words in response to Kissinger's death on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But it was Kissinger who was warmly received by China's Xi Jinping and his right-hand men in diplomacy, while top-level US officials came and went without a face-to-face meeting with the paramount leader. "The Chinese people never forget their old friends, and Sino-US relations will always be linked with the name of Henry Kissinger," Xi said.

Persons: Henry Kissinger, Xi Jinping, —, Biden, Kissinger, China's Xi Jinping, Xi, Antony Blinken, Janet Yellen, Gina Raimondo, John Kerry, Washington bristled, China's, Li Shangfu, Li, Lloyd Austin, John Kirby, Richard Nixon, Mao Zedong, Zhou Enlai Organizations: Service, State Department, of, National Security Locations: China, Beijing, Washington, United, Communist China

☆ 'An era in the United States has ended': The Chinese internet is alight with tributes to Henry Kissinger
▼ + stars: | 2023-11-30 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

The Chinese internet lamented the death of Henry Kissinger death on Wednesday. Just four hours after his death was announced, topics on Kissinger hit a whopping 660 million combined view count on Weibo, China's version of Twitter. "Old friends are dying, like leaves in the wind," wrote one Weibo user in a top comment, referencing a line attributed to the ancient Chinese warlord Cao Cao. Chinese leader Xi Jinping even called him an "old friend of the Chinese people" when Kissinger visited China in July. AdvertisementWith his death, and that of Berkshire Hathaway's Charlie Munger, "an era in the United States has ended," wrote one Weibo user in a heavily upvoted comment.

Persons: Henry Kissinger, Kissinger, —, Cao Cao, Guan Yu, Cao Cao's, Xi Jinping, Charlie Munger, Kissinger —, Munger, that's, Richard Nixon Organizations: Service, Weibo, Twitter, Sino, Business Locations: Weibo, China, American, Washington, Beijing, Berkshire, United States

☆ Kissinger’s Legacy Still Ripples Through Vietnam and Cambodia
▼ + stars: | 2023-11-30 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +6 min

Mr. Kissinger, who died on Wednesday, shared the 1973 Nobel Peace Prize for negotiating the peace accords that ended American involvement in the Vietnam War. The fighting between North Vietnam and U.S.-backed South Vietnam did not end until the North’s victory in 1975. Mr. Kissinger defended his wartime decisions for years afterward. Within Vietnam, Mr. Kissinger’s role in the war was contentious well before the fighting ended. When President Barack Obama visited in Hanoi in 2016, he said the United States would rescind a decades-old ban on sales of lethal military equipment to Vietnam.

Persons: Henry A, Kissinger, Mr, Lyndon, Richard M, Le Duc Tho, Duong Quoc, Hun Sen, ”, “, Pen, Sok, Hun Sen’s, Barack Obama, Biden’s, Chau Doan, Sun Narin, Lee Wee Organizations: Communist, Johnson Library, Museum, Thunderbird School of Global Management, Arizona State University, Vietnamese Foreign Ministry, U.S, Cambodian People’s Party, Vietnam’s Communist Party Locations: Cambodia, Vietnam, U.S, China, Southeast Asia, North Vietnam, Saigon, United States, America, Austin , Texas, Vietnamese, Hanoi, “, Khmer, Khmer Rouge, ” Vietnam, Washington, United, Russia

Struggling to energize his campaign, DeSantis this week privately encouraged his donor network to support a newly formed super PAC that's taking over advertising responsibilities. The super PAC has also paid for the bulk of his TV ads and almost all of his organizing. On Aug. 8, the DeSantis campaign announced a staff shakeup, replacing its campaign manager and hiring Polyansky from the super PAC to serve as deputy campaign manager. Polyansky is an Iowa campaign veteran who has worked on several presidential campaigns in the state. DeSantis spokesman Andrew Romeo said it was “totally false” to assert that DeSantis coordinated any campaign strategy with the super PAC.

Persons: scrappy, Koch, Trump, “, ”, Bob Vander Plaats, DeSantis, Jasper County —, David Polyansky, Polyansky, Andrew Romeo, James Uthmeier, Right's, Donald Trump, Nikki Haley, Ron DeSantis, ” Uthmeier, ” Haley, Haley, Nachama Soloveichik, Emily Seidel, Drew Klein, ___ Peoples Organizations: DeSantis, Republican, Supreme, GOP, PAC, The Associated Press, “, Iowa Caucus, WIN, ”, Trump, Haley, SFA Fund, Haley SFA, Prosperity, ___ Locations: Iowa, U.S, Jasper, Washington, ” Ports, New Hampshire, South Carolina, New York, Meredith , New Hampshire

MOSCOW, Nov 29 (Reuters) - Russia's industrial output growth slowed in October as the unemployment rate dropped to a record low 2.9%, federal statistics showed on Wednesday, with deepening labour shortages showing signs of cooling Moscow's military production capacity. Analysts say wages are growing faster than productivity and the central bank has warned of the impact it has on inflation. Industrial output rose 5.3% year-on-year in October, down from a 5.6% rise in September and driven once again by military production. Rosstat said industrial output had grown since March at a monthly rate of more than 5% compared with the corresponding months of 2022. But when discounting seasonal factors, industrial production dropped 0.4% in October, Rosstat said.

Persons: Maxim Oreshkin, Vladimir Putin, Central Bank Governor Elvira Nabiullina, Rosstat, Alexander Marrow, Darya, Alex Richardson, Alexandra Hudson Organizations: Kremlin, Reuters, VW, Central Bank Governor, Alexandra Hudson Our, Thomson Locations: MOSCOW, Russia, Volkswagen's, Moscow, Ukraine, Putin's Russia

☆ Americans are 'doom spending' — here's why that's a problem
▼ + stars: | 2023-11-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Consumer spending has remained remarkably resilient in the face of some stiff economic headwinds. Nearly all Americans, 96%, are concerned about the current state of the economy, according to a recent report by Intuit Credit Karma. Still, more than a quarter are "doom spending," or spending money despite economic and geopolitical concerns, the report found. This season, holiday spending is expected to reach record levels, totaling up to $966.6 billion, the NRF projects. Rather than cut expenses, 73% of Gen Zers say they would rather live in the moment, a recent Prosperity Index study by Intuit found.

Persons: Courtney Alev, Gen Zers Organizations: Nike, Woodbury, Intuit Credit Karma, National Retail Federation, Finance, Intuit, Bank of America Locations: Central Valley , New York, U.S

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