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Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. Reuters reported in June that the very AI chips barred by prior regulations could be purchased from vendors in China's Shenzhen. AI capabilities, aided by supercomputing and advanced chips, improve the speed and accuracy of military decision-making, planning and logistics, according to the regulations released Tuesday. LICENSING EXPANDEDThe new measures also expand licensing requirements for exports of advanced chips to more than 40 additional countries that present risks of diversion to China and are subject to U.S. arms embargoes. "We don’t think incremental semiconductor equipment restrictions are likely to have significant long term effects" on equipment suppliers, Wolfe Research said in a client note.

Persons: Florence Lo, Biden, Moore, Gina Raimondo, Biren, ASML, Lam, Raimondo, Jake Sullivan, Janet Yellen, Alexandra Alper, Karen Freifeld, Stephen Nellis, David Shepardson, Max A, Chris Sanders, Jamie Freed, Daniel Wallis Organizations: REUTERS, Rights, Nvidia, Beijing, Commerce, Reuters, Georgetown University's Center for Security, Emerging Technology, Xilinx, Intel, supercomputing, HIT, AMD, U.S, Lam, Applied Materials, Wolfe Research, Semiconductor Industry Association, Thomson Locations: China, U.S, Iran, Russia, Beijing, China's Shenzhen, Georgetown, CHINA, Macau, Netherlands

☆ These companies reporting in the week ahead have a history of beating estimates and rising
▼ + stars: | 2023-10-15 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Elsewhere, UnitedHealth Group , a heavyweight in the Dow Jones Industrial Average, gained 2.6% after beating analysts' estimates for earnings and revenue. A number of stocks reporting in the week ahead have a great track record of topping earnings estimates and rallying, according to Bespoke Investment Group data. Citizens stock has slipped more than 34% in 2023. Western Alliance stock, meanwhile, has slipped more than 25% in 2023. WAL YTD mountain Western Alliance stock.

Persons: Goldman Sachs, Needham, Charles Shi, Michael Bloom Organizations: JPMorgan, Wells, UnitedHealth, Dow Jones, Investment, Financial, Citizens, Western Alliance, Lam Research Locations: Wells Fargo

☆ Notoriously scruffy Sam Bankman-Fried gets a makeover for his criminal trial with a new haircut and suit
▼ + stars: | 2023-10-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried reportedly got a haircut from a fellow inmate for the first day of his criminal trial. The disgraced crypto entrepreneur is famous for his messy hair and casual dress sense. AdvertisementAdvertisementSam Bankman-Fried is famous for his unkempt curls and casual dress sense – but for the first day of his criminal trial in court, he brushed up his image. Bankman-Fried reportedly entered the courtroom with a new close-cut haircut and a freshly-pressed suit, according to CNBC. Sam Bankman-Fried is famous for his casual dress sense.

Persons: Sam Bankman, Fried, SBF, —, Caroline Ellison, Gary Wong, FTX's, Lam Yik, Bill Clinton, Tony Blair, Anthony Scaramucci Organizations: Service, CNBC, Alameda Research, Bloomberg, Getty, British Locations: Brooklyn, Alameda, Bahamas

☆ These 10 stocks have the most exposure to China's 'stalling' economy, BofA warns
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).

Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau

☆ Inside Otter University: How Travis Kalanick's sales boot camp for young techies went off the rails
▼ + stars: | 2023-08-17 | by ( Meghan Morris | Darius Rafieyan | ) www.businessinsider.com time to read: +21 min

"It seemed like a cool, innovative new company," Lam said. Starting in early 2022, the company poured millions of dollars into an experimental sales boot camp called Otter University. She joined the company in 2020 as Otter's head of sales enablement and helped dream up the idea of a sales boot camp a year later. Two former OtterU employees said that Law and another Otter executive urged managers to join their teams for late-night drinks following team dinners. But the late nights and free-flowing alcohol struck some OtterU employees as inappropriate for the workplace, especially when managers had to deal with hungover teams the next day.

Persons: Brian Lam, messaged, Travis, Lam, Uber, It's, Kalanick, voraciously, they're, Otter, wasn't, salespeople, Cory Epstein, Phoebe Law, Law, people's, –, Kalanick's Uber, Otter's, Kate, Samul Beal, I'd, Beal, didn't, terminations, he'd, OtterU, I'm, grads, Salespeople, Guido Gabrielli, Keith Dunphy, Dunphy, Bram van Staalduinen, Phoebe Law's, Debra Glaser, Jen Zablotny, there's, Ordermark, Burger, Meghan, Darius Organizations: Texas, Otter, Storage Systems, Microsoft, Otter University, Law, Adobe, SAP, Houston, OtterU, hungover, NCR, Google, Brands, Houston Rockets Locations: Korean, Houston, Toronto, LA, Las Vegas, Miami, Seoul, South Korea, Houston ., OtterU, Otter, Canada

☆ Stocks making the biggest moves midday: Meta Platforms, Chipotle, Royal Caribbean and more
▼ + stars: | 2023-07-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.

Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, —, Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, —, L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv

☆ Stocks making the biggest moves premarket: Southwest Airlines, Meta Platforms, Align Technology, eBay and more
▼ + stars: | 2023-07-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Chipotle reported $2.51 billion in revenue, while analysts polled by Refinitiv had expected revenue of $2.53 billion. Meta Platforms — The Facebook parent jumped nearly 9% after reporting earnings and revenue for the second quarter that topped analysts' estimates. Same-store sales grew 11.7% in the second quarter. Sunnova Energy — Shares of the solar company slid more than 7% following weaker-than-expected financial results in the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet.

Persons: Chipotle, Refinitiv, Edwards Lifesciences, Meta, Lam, McDonald's, Richard Dickson, Sunnova, —, Jesse Pound, Alex Harring, Yun Li Organizations: Southwest Airlines —, eBay, FactSet, Technology, Revenue, Facebook, Lam, Honeywell —, Honeywell, Mattel, Comcast —, NBC, Management, Energy, Comcast, CNBC Locations: Refinitiv, China, FactSet

☆ Stocks making the biggest moves after hours: Meta Platforms, Chipotle Mexican Grill, ServiceNow and more
▼ + stars: | 2023-07-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines after the bell:Meta Platforms – Shares of Meta Platforms jumped nearly 6% on stronger-than-expected quarterly results. Chipotle reported adjusted earnings of $12.65 a share on $2.51 billion in revenue. The entertainment technology company reported adjusted earnings of 26 cents a share. Lam posted adjusted earnings of $5.98 per share, beating estimates by 91 cents per share, per Refinitiv. L3Harris reported adjusted earnings of $2.97 a share on $4.69 billion in revenue, and lifted earnings and revenue guidance.

Persons: Chipotle, Refinitiv, Lam, — ServiceNow, FactSet, Sunnova, Richard Dickson, L3Harris, Aerojet, Macheel, Sarah Min, Darla Mercado Organizations: Meta, Revenue, Lam, eBay, Energy, Technology, Mattel –, Mattel, Seagate Technology, Technologies, Federal Trade Commission, L3Harris Locations: FactSet, Refinitiv

☆ Apple's Tim Cook calls India 'huge opportunity' after tech meeting at White House with Prime Minister Modi
▼ + stars: | 2023-06-23 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. The tech company execs spent over an hour with Prime Minister Narendra Modi inside the White House on Friday, discussing opportunities and challenges in investing in India. After the meeting concluded at the White House, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." It was the first state visit to the U.S. for Modi, who became prime minister in 2014. Following Friday's meeting, the White House said Google will be working with the Indian Institute of Science on open sourcing of speech data for artificial intelligence models.

Persons: Joe Biden, Narendra Modi, Biden, execs, Modi, Elon Musk, Tim Cook, Sam Altman, Altman, Hemant Taneja, Catalyst, Taneja, Kenneth Juster, who's Organizations: India's, Apple, Microsoft, Tesla, White, CNBC, Google, Indian Institute of Science, U.S, Micron, Applied Materials, Research, Council, Foreign Relations, Biden Locations: Washington ,, India, U.S, Washington, China, Gujarat

☆ A New Hope for Manhattan’s Chino Latino Restaurants: TikTok
▼ + stars: | 2023-05-12 | by ( Christina Morales | ) www.nytimes.com time to read: +1 min

All of the cooks at La Dinastia’s kitchen are Chinese and have learned to make Cuban dishes over time. Many original cooks and waiters retired during the pandemic. Michael Lan, an owner at La Dinastia who has worked there for decades and is knowledge about the kitchen, is planning his own exit. “I’ll be there for him,” Mr. Lan, 64, said about the younger Mr. Lam. “But they’re getting old,” said Marvin Chu, 40, an owner who operates the restaurant’s three locations with his brother and great-uncle.

☆ Hong Kong Wants More Tourists, but Mostly ‘Good Quality’ Ones, Please
▼ + stars: | 2023-05-09 | by ( David Pierson | Olivia Wang | ) www.nytimes.com time to read: 1 min

One by one the tour buses descended on the blue collar neighborhood in Hong Kong known as To Kwa Wan — literally translated as Potato Bay — unloading throngs of travelers from mainland China outside large restaurants where a quick lunch awaited them inside. Outfitted in white, red and orange ball caps to denote which tour they belonged to, the visitors crowded the sidewalks, smoked cigarettes under a “No Smoking” sign and bumped into the glass storefront of a real estate office where Nicky Lam, a property agent, was rolling her eyes. “They’re very loud,” Ms. Lam said, complaining that some of the tourists used her office bathroom and water cooler without asking. “One tourist came in and asked for restaurant recommendations,” she added. “I stared at him and said, ‘This is a real estate office.’”

☆ Hong Kong: One of the world's most expensive cities raises minimum wage by 32 cents
▼ + stars: | 2023-05-02 | by ( Jessie Yeung | ) edition.cnn.com time to read: +6 min

So when the Hong Kong government raised the minimum wage by a measly 32 cents on Monday, activists and community workers were scathing in their response. “It cannot cover basic needs in Hong Kong.”The new minimum wage now stands at 40 Hong Kong dollars ($5.1) per hour, up from the previous 37.5 Hong Kong dollars ($4.78) per hour. But Wong said this new increase will make little difference in Hong Kong, consistently ranked one of the world’s most expensive cities. The city’s median hourly wage last year was 77.4 Hong Kong dollars ($9.86), according to the Census and Statistics Department. A demonstration from the Hong Kong Women Workers Association in front of the Central Government Office on May 1, 2023.

In Shanghai, over seven million tourists arrived in the city for the weekend, according to Shanghai Travel Data. Also known as the May Day holiday, the Labor Day break is one of three major annual holidays in China. Tourists visit Nanjing Confucius Temple ahead of the May Day holiday on April 27, 2023 in Nanjing, Jiangsu Province of China. Visitors walk past the Casino Lisboa, operated by SJM Holdings, during Labour Day holiday in Macau, China, April 30, 2023. “The unscrupulous practice of these bed-and-breakfasts is ugly,” said an opinion piece posted on the social media platform by state media People’s Daily.

☆ It’s the Most Thankless Job in Banking. Silicon Valley Bank Didn’t Fill It for Months.
▼ + stars: | 2023-03-23 | by ( Ben Cohen | ) www.wsj.com time to read: 1 min

James Lam had just been hired by a new financial division of GE Capital when he walked into his boss’s office with a problem: He was ordering business cards and had no idea what to put on them. Since his position didn’t really exist, it also didn’t have a title, so he was given permission to invent one. He called himself a chief risk officer. Thirty years later, as he followed the spectacular implosion of Silicon Valley Bank, there were few people more qualified than Mr. Lam to ask two simple questions.

☆ Banks Are Risky. Silicon Valley Bank’s Risk Officer Was AWOL.
▼ + stars: | 2023-03-23 | by ( Ben Cohen | ) www.wsj.com time to read: 1 min

☆ These stocks benefit the most when short-term rates slide, according to Jefferies
▼ + stars: | 2023-03-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As short-term rates slide on the back of the banking crisis, a handful of stocks — including chip names —will emerge winners, according to Jefferies. The strategist noted the steep drop in the 2-year yield is pointing to worsening economic conditions. Indeed, the names Jefferies highlighted are largely tech and growth stocks – that is, companies that suffered the most when interest rates rose and slashed their valuations. Semiconductor stocks Lam Research and Advanced Micro Devices were also included in the list. Paycom Software and aerospace name TransDigm Group were also highlighted in Jefferies' report as beneficiaries of a falling 2-year Treasury yield.

☆ Cathay’s people problem is Hong Kong’s too
▼ + stars: | 2023-03-10 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, March 10 (Reuters Breakingviews) - Cathay Pacific (0293.HK) may be a high-flying reminder of the Asian finance hub’s pandemic-induced isolation for longer than anyone wants. It promises a swift reversal on a HK$6.5 billion ($834 million) net loss for 2022 Cathay reported on Wednesday. The company has close to 2,405 pilots, roughly 63% of pre-pandemic numbers, according to a survey conducted in March by the Hong Kong Aircrew Officers Association and seen by Breakingviews. That makes Cathay’s people problem Hong Kong’s too. Cathay Pacific carried 1.03 million passengers in January 2023, up from 24,699 last year.

HONG KONG, March 3 (Reuters) - Bank of America (BAC.N) and Citigroup (C.N) have cut some investment banking jobs in Asia, people familiar with the matter told Reuters, joining global peers in paring headcount as China dealmaking slows. Citi on Thursday trimmed four jobs from its China investment banking team, said one of the two people and a separate person. BofA and Citi both declined to comment on layoffs involving investment bankers in Asia. JPMorgan (JPM.N) has also cut around 20 investment banking jobs, mostly mid-level bankers focused on China deals, according to two separate sources. Nomura Holdings Inc (8604.T) has cut 18 Asian banking jobs, most of them China-focused investment banking roles, sources have said.

☆ Hong Kong is criminalizing CBD as a ‘dangerous drug’ alongside heroin
▼ + stars: | 2023-01-31 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Two years ago, cannabidiol was booming in Hong Kong. CBD cookies at the Found cafe in Hong Kong on August 11, 2022. And while CBD products could avoid this trace amount by using a pure form of CBD, most manufacturers mix other compounds for higher potency. From 2019 to early 2022, Hong Kong authorities launched nearly 120 “operations” seizing and testing CBD products from restaurants and shops to warehouses, Secretary for Security Tang Ping-keung said last year. Now “there’s less choice for consumers in Hong Kong.

☆ Deutsche Bank upgrades chipmaker Lam Research, sees a memory demand rebound in 2024
▼ + stars: | 2022-12-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

While 2023 will be more difficult than previously anticipated for Lam Research , 2024 should be better, Deutsche Bank said. Before the upgrade, Ho expected the stock to fall to $400. "Looking beyond the near term, memory WFE is poised to rebound in CY24, as we believe CY23 memory WFE spend is at unsustainably low levels." Another area of spending within the memory space focused on what industry insiders call "foundry" or "logic" is not expected to rebound in 2024 and decline further. But that would be favorable to Lam as its exposure is skewed toward other types of memory technology.

☆ Lensa, the AI portrait app, has soared in popularity. But many artists question the ethics of AI art.
▼ + stars: | 2022-12-06 | by ( Morgan Sung | Morgan Sung Is A Trends Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +12 min

Social media has been flooded with Lensa AI portraits, from photorealistic paintings to more abstract illustrations. In a lengthy Twitter thread posted Tuesday morning, Prisma addressed concerns of AI art replacing art by actual artists. For some artists, AI models are a creative tool. While the value of art is subjective, the crux of the AI art controversy is the right to privacy. Without decades of examples to learn from, he said, the AI images that looked just like his illustrations would never exist.

☆ Trump's tax returns case lost in the Supreme Court. Now what?
▼ + stars: | 2022-11-26 | by ( Carol C. Lam | Carol C. Lam Was A U.S. Attorney For The Southern District Of California | A Federal Prosecutor For Years. She Also Was A Superior Court Judge In San Diego County. She Is A Legal Analyst For Msnbc. | ) www.nbcnews.com time to read: +7 min

Letitia James, the New York attorney general, also has years of tax returns, and has brought a civil case based largely on them. First, the updated House request to the Treasury Department in 2021 calls for more recent tax returns, this time for tax years 2015-2020. Tax returns in the hands of a congressional committee are not the same as tax returns in the hands of a prosecutor. Government prosecutors can obtain, but not disclose, the contents of tax returns — unless, that is, it becomes necessary to introduce relevant portions of the returns into evidence. After evidence came to light that President Richard Nixon had used taxpayer information to target political opponents, legislation was enacted in 1976 that severely restricted a president’s ability to disclose taxpayer information.

Companies Ledgerx LLC FollowNov 21 (Reuters) - The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. The Warriors last December had named FTX its official cryptocurrency platform, in what it called a first-of-its-kind cryptocurrency partnership in professional sports. The lawsuit seeks damages under California consumer laws for customers outside the United States with FTX yield-bearing accounts. Another NBA team, the Miami Heat, on Nov. 11 said it would drop the FTX name from its arena and seek a new naming sponsor. The Heat is not a defendant in the Miami lawsuit.

☆ Before his epic fall, Sam Bankman-Fried was hailed as a crypto genius. Some clients saw smoke and mirrors.
▼ + stars: | 2022-11-11 | by ( Gretchen Morgenson | Gretchen Morgenson Is The Senior Financial Reporter For The Nbc News Investigative Unit. A Former Stockbroker | She Won The Pulitzer Prize In For Her | ) www.nbcnews.com time to read: +14 min

Until a few days ago, Sam Bankman-Fried was the king of crypto. “I’m sorry I didn’t do better,” Bankman-Fried said Tuesday in a message to investors reviewed by NBC News. The contentions of the people who spoke with NBC News are echoed in a 2019 lawsuit brought in federal court against FTX Alameda, Bankman-Fried and other executives. But the crypto market does not have the protections or price transparency found in listed stock markets, for example. FTX and Alameda, as a major crypto exchange and market maker, attracted crypto developers to list their projects for trading.

☆ Insana: The manic speculation behind the fall of FTX is as old as the markets themselves
▼ + stars: | 2022-11-10 | by ( Ron Insana | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yik | Bloomberg | Getty ImagesWith a nod to Gertrude Stein, "there's no there there," in the world of cryptocurrencies. Whether it's manias in Sumerian grain markets, Dutch tulip bulbs, railroad bonds and everything from internet service providers to digital currencies, leveraged speculation is as old as markets themselves. Digital assets that don't exist in reality have been used as collateral to buy and sell other non-existent assets with a heavy dose of borrowed money. This creates a daisy chain of interlocked digital tokens that have no inherent value except what people are willing to ascribe.

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