DIRS.INFO The most relevant business & tech news

In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTKris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty ImagesKris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Over the course of 2008 and 2009, Marszalek and his partner were transferred nearly $3 million in payments from Starline, according to the documents. As a result, when the bank forced Starline into liquidation, Marszalek and his partner were forced into bankruptcy as well.

CNN —Nearly 10 months after his invasion of Ukraine began, Russian President Vladimir Putin on Wednesday acknowledged that the conflict is “going to take a while,” as he also warned of the “increasing” threat of nuclear war. And without categorically ruling out the first use of nuclear weapons, Putin said he viewed the Russian nuclear arsenal as a deterrent rather than a provocation. “Nevertheless, we have a strategy… namely, as a defense, we consider weapons of mass destruction, nuclear weapons – it is all based around the so-called retaliatory strike,” he said. We are aware of what nuclear weapons are. The Zaporizhzhia nuclear power plant been rocked by explosions in recent months amid fighting nearby, with Kyiv and Moscow blaming each other for the attacks.

☆ China eases some of its Covid restrictions, in significant step toward reopening
▼ + stars: | 2022-12-07 | by ( Jessie Yeung | ) edition.cnn.com time to read: +9 min

CNS/AFP/Getty ImagesSince early in the pandemic, China has used health codes on mobile phones to track individuals’ health statuses. Residents line up for Covid tests in Hohhot, Inner Mongolia, China on December 1. Schools with Covid cases can continue “normal teaching and living,” as long as they designate certain “risk areas” with control measures. Since early in the pandemic, China has required a prescription and negative Covid test to buy these. Some experts have warned that a broader reopening inevitably brings health risks, especially to those vulnerable groups.

☆ Skyrocketing demand for ADHD meds is straining the U.S. health care system
▼ + stars: | 2022-12-07 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +4 min

ADHD diagnoses and prescriptions have been increasing across all age groups since before the days of social media. The number of ADHD diagnoses in 2010 were almost five times what they were in 1999. And between 2007 and 2016, the number of diagnoses of ADHD in adults more than doubled. "I think we've definitely moved into an area of talking about mental health that's really positive. Watch the video above to learn more about the rise in ADHD in the United States and whether the health care system can handle the increase in demand.

Seoul, South Korea CNN —Two former police officers were arrested in South Korea on Monday, accused of destroying evidence relating to the deadly Halloween crowd crush in Seoul, according to authorities in the country. They allegedly ordered their subordinates to destroy an internal report about the risks stemming from a large crowd gathering in Itaewon during Halloween festivities. The two officers were already dismissed from their posts in November over their handling of the Itaewon incident. Both are under suspicion of professional negligence in relation to the crowd crush resulting in deaths and injuries. Video Ad Feedback CNN reporter returns to Itaewon's narrow alley one day after the Halloween disaster.

☆ Tasmanian tiger: Lost remains of last thylacine found hiding in plain sight
▼ + stars: | 2022-12-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

CNN —For decades, nobody knew where the remains of the last thylacine, or Tasmanian tiger, were located. It turns out they were hiding in plain sight – at the Tasmanian Museum and Art Gallery (TMAG), in the Australian island state, where they had been unidentified for more than 80 years. That meant researchers and staff at the museum were wholly unaware of the significance of the thylacine in their collection. A thylacine displayed at the Australian Museum in Sydney, Australia, in 2002. The remains are now on display in the museum’s thylacine gallery for public viewing.

☆ Crypto Firm FTX Landed in the Bahamas With a Bang, and Now the Bahamas Is Picking Up the Pieces
▼ + stars: | 2022-11-25 | by ( Matt Grossman | Angel Au-Yeung | ) www.wsj.com time to read: 1 min

NASSAU, Bahamas—Last year, an FTX executive walked into a bank office here and put $4.5 million of the company’s money behind an ambitious plan to buy an oceanside parcel of land and turn it into the crypto giant’s new headquarters. The executive, Ryan Salame , closed the deal in short order, people familiar with the matter said, just part of the company’s whirlwind real-estate shopping spree in and around Nassau. In April, the Bahamas prime minister appeared with FTX executives at a ceremonial groundbreaking on the new land. But construction never really got under way. FTX collapsed this month, its real-estate holdings now subsumed in bankruptcy.

☆ Six former staff of Hong Kong newspaper plead guilty to conspiracy to collude
▼ + stars: | 2022-11-22 | by ( Jessie Pang | ) www.reuters.com time to read: +3 min

HONG KONG, Nov 22 (Reuters) - Six former members of staff at Hong Kong's defunct pro-democracy newspaper Apple Daily pleaded guilty on Tuesday to conspiracy to commit collusion with foreign forces in a closely watched national security case. Prosecutor Anthony Chau said Apple Daily was used as a platform to advocate for foreign sanctions. Beijing and Hong Kong's government denied that and accused the protesters of undermining the stability at the heart of Hong Kong's economic success, at the behest of foreigners. Lai and the six former Apple Daily staff members were charged with conspiracy to commit collusion with foreign forces under the law. Lai and his three companies have pleaded not guilty to the national security and sedition charges.

NASSAU, Bahamas— Sam Bankman -Fried’s $32 billion crypto-trading empire collapsed in an incandescent bankruptcy last week, prompting irate customers, crypto acolytes and Silicon Valley bigwigs to ask how something that seemed so promising could have imploded so fast. The emerging picture suggests FTX wasn’t simply felled by a rival, or undone by a bad trade or the relentless fall this year in the value of cryptocurrencies. Instead, it had long been a chaotic mess. No one could say exactly what belonged to whom. Prosecutors are now investigating its collapse.

Two Cambodian wildlife officials were among eight people charged Wednesday with running an international monkey smuggling ring that shipped primates to the U.S. that were poached from the wild and falsely labeled as coming from breeding facilities, federal prosecutors said. Cambodian wildlife officials were paid to help transport the monkeys to the facilities, including the Vanny Bio Research center in Cambodia, the indictment says. One of the Cambodian wildlife officials, Masphal Kry, 46, was arrested Wednesday at John F. Kennedy Airport in New York City. According to federal prosecutors in Miami, he personally transported the monkeys to the Cambodian facilities and received payments from the other members of the alleged smuggling ring between December 2017 and this September. “The allegations are alarming — the plundering of wild populations of long-tailed macaques and falsely labeling them as captive-bred in order to bypass regulations,” Kite said.

related investing news Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy Crypto.com is smaller than FTX but still ranks among the top 15 global exchanges, according to CoinGecko. Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Marszalek has spent the early part of the week trying to reassure users and regulators that the business is fine. FTX CEO Sam Bankman-Fried said his company's assets were "fine" two days before he was desperate for a rescue because of a liquidity crunch. Marszalek said on Monday that this was just a reflection of the assets Crypto.com customers were buying.

☆ This Former BlackRock Executive Says ESG Investment Model Is Broken
▼ + stars: | 2022-11-12 | by ( Angel Au-Yeung | ) www.wsj.com time to read: 1 min

Encouraging renewable-energy alternatives to coal-fired power plants is a goal of environmental, social and governance, or ESG, investment. Terrence Keeley had been at BlackRock Inc. for about a decade when he reached a contrarian conclusion: ESG doesn’t work. Mr. Keeley spent much of his time at the asset manager overseeing a group that nurtured relationships with central banks, finance ministries, family offices and sovereign-wealth funds. Under pressure from politicians and activists, some of these investors were looking to distance themselves from companies that fall short on environmental, social and governance factors. BlackRock obliged, helping clients funnel money toward companies whose values they share.

☆ Some of China's policies have failed to help property sales rebound, says economist
▼ + stars: | 2022-11-11 | 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 EmailSome of China's policies have failed to help property sales rebound, says economistRaymond Yeung, chief economist for Greater China at ANZ, discusses the effects of China's zero-Covid policy on its economy and its recent decision to ease some restrictions.

☆ Asian Americans favored Democratic candidates in midterms, exit polls say
▼ + stars: | 2022-11-10 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +6 min

She’s among the many Asian Americans and Pacific Islanders who showed up at the ballot box on Tuesday. Surveys show that Asian Americans favored Democrats during the midterm elections, according to election night exit polls. According to that poll, 64% of Asian Americans voted Democrat in House races, while 32% voted Republican. Roughly three-quarters of Asian American voters in Pennsylvania, for example, favored Democratic candidates for governor, Senate and House. Roughly two-thirds of Asian Americans also favored the Democratic candidate in the House and Senate races.

☆ Casino operator Wynn delivers decent Q3 despite ongoing China pressures
▼ + stars: | 2022-11-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +11 min

Casino operator Wynn Resorts (WYNN) reported solid third-quarter results Wednesday, boosted by its U.S. properties, even as its China operations continued to be squeezed by Beijing's strict Covid-19 measures. Despite lower revenues, the Adjusted Property EBITDA loss was $21.8 million, compared to forecasts of a $43 million loss. But the Adjusted Property EBITDA loss was smaller than anticipated, at $43.8 million, compared to the $59 million loss predicted by analysts. Despite lower revenues, the Adjusted Property EBITDA loss was $21.8 million, compared to forecasts of a $43 million loss. But the Adjusted Property EBITDA loss was smaller than anticipated, at $43.8 million, compared to the $59 million loss predicted by analysts.

☆ China's October exports likely cooled further as global demand weakened, Reuters poll shows
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +3 min

Exports likely rose 4.3% last month from a year earlier, according to the median forecast of 20 economists in the poll, slowing from a 5.7% pace in September. "The tepid outlook for global supply chains does not bode well for China's exports," said Raymond Yeung, chief China economist at ANZ. "In addition to slowing global demand amid a likely global recession, we note export orders normally sent to China are being diverted to other emerging market economies." Combined with a high base of comparison from last year, Barclays forecast China's exports could fall 2-5% in 2023. The weak trade forecasts implied that China's trade surplus would widen to $95.95 billion from 84.74 billion in September.

HONG KONG — After mass unrest in 2019, a pandemic that left it isolated from the world and the imposition of a national security law that has crushed dissent, Hong Kong is ready to turn the page. According to government statistics, about 319,000 people arrived in Hong Kong last month, down 97% from 10.8 million in October 2019. According to one report last month, Hong Kong has lost its status as Asia’s top financial center to Singapore. While it may not be realistic to expect businesses to turn away from China’s huge market, global business leaders “need to recognize that there’s a new situation in Hong Kong, there’s a new reality,” said Brian Kern, the lead researcher for a report on doing business in Hong Kong that was published last month by the Hong Kong Democracy Council, a nonprofit group based in Washington. Lee also pointed to a report in September in which Hong Kong topped Singapore as the world’s freest economy.

☆ China's Oct exports seen cooling further as global demand weakens: Reuters poll
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +3 min

"The tepid outlook for global supply chains does not bode well for China's exports," said Raymond Yeung, chief China economist at ANZ. "In addition to slowing global demand amid a likely global recession, we note export orders normally sent to China are being diverted to other emerging market economies." Combined with a high base of comparison from last year, Barclays forecast China's exports could fall 2-5% in 2023. read moreImports were forecast to have risen just 0.1% from a year earlier, the poll showed, compared with a 0.3% gain in September. The weak trade forecasts implied that China's trade surplus would widen to $95.95 billion from 84.74 billion in September.

CNN —A Thai media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, according to her company, which will now host the international beauty pageant. In a joint statement, the CEO and president of the Miss Universe Organization said they were “excited to continue the evolution of the Miss Universe Organization with JKN.”“Our progressive approach continues to position us at the forefront of our industry,” they said. The purchase makes Jakkaphong the first woman owner of the Miss Universe Organization, according to the JKN news release. The Miss Universe beauty contest, one of the world’s most-watched pageants, has been running since 1952. And in 2019, the winners of five major pageants – Miss Universe, Miss World, Miss America, Miss USA and Miss Teen USA – were all women of color, a remarkable milestone given black women weren’t allowed to compete in Miss America until the 1940s, and the first black contestant didn’t take that stage until 30 years later.

☆ Economist says he doesn't expect China's economy to return to 5% growth any time soon
▼ + stars: | 2022-10-24 | 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 EmailEconomist says he doesn't expect China's economy to return to 5% growth any time soonRaymond Yeung of ANZ says the firm sees China's GDP growth slowing and projects 4.2% growth in 2023.

CNN —Dozens of people have been killed in military airstrikes that hit a celebratory event in Myanmar’s mountainous Kachin state on Sunday, according to local news outlets and international organizations. Reuters and local news outlet The Irrawaddy reported at least 50 people were killed. CNN cannot independently verify the number of reported deaths and has reached out to the military for comment. Kachin Alliance, a Kachin community organization based in Washington, DC, said Kachin artists, local elders, and KIO leaders were among those killed. The attack on Sunday drew international condemnation, with the United Nations saying it was concerned over reports of more than 100 civilians impacted.

☆ This Powerful BlackRock Team Has the Ear of Governments and Megabanks
▼ + stars: | 2022-10-20 | by ( Angel Au-Yeung | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/this-powerful-blackrock-team-has-the-ear-of-governments-and-megabanks-11666235717

CNN —British Prime Minister Liz Truss on Monday apologized for her controversial mini-budget that crashed the country’s currency, rattled financial markets and led to her firing her finance minister and closest political ally. The moves amount to a gutting of Truss’ flagship “growth plan” and leave her in a perilous political position. “We have to make sure though, that we have economic stability, and that has to be my priority as prime minister. Truss added it was “painful” to sack her “friend” Kwarteng as finance minister but said she stood by her decision. She also apologized to her party’s lawmakers for her “mistakes” but said she would “move forward” and focus on delivering for the UK.

CNN —Tesla CEO Elon Musk has denied a claim that he spoke directly to Russian President Vladimir Putin in recent weeks about the war in Ukraine and a proposed “peace plan” to end the conflict. Speaking to CNN on Tuesday, American political scientist Ian Bremmer, president of political consulting firm Eurasia Group, claimed Musk told him directly about his conversation with Putin last month. “Elon Musk told me he had spoken with Putin and the Kremlin directly about Ukraine. “My recommendation…would be to figure out a special administrative zone for Taiwan that is reasonably palatable, probably won’t make everyone happy,” Musk told the Financial Times in an interview published last week. “Musk also appeared concerned about more direct threats from Putin,” Bremmer wrote.

☆ Elon Musk touts big plans for Tesla's Optimus robot, but some experts doubt it's the next big thing
▼ + stars: | 2022-10-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Eight experts told Insider they have doubts about Elon Musk's promises for Tesla's Optimus bot. Several experts said Tesla's AI Day demonstration doesn't stand out from other companies' projects. This year, at Tesla's second annual AI Day a prototype of the Optimus bot walked slowly onto the stage and waved to the audience. The Optimus bot did stand out in one way, according to several experts — its hands. Animesh Garg, a professor of AI Robotics at the University of Toronto, called the bot's hands "impressive."

Search resuls for: "Yeung"

25 mentions found