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☆ Stocks making the biggest moves premarket: Disney, PayPal, Arm and more
▼ + stars: | 2024-02-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Ralph Lauren reported earnings of $4.17 per share, excluding items, while analysts surveyed by FactSet expected earnings of $3.57 per share. The company, which is anticipating soft sales growth this year, also announced a $1 billion share buyback program. Arm Holdings — The chipmaker's stock soared more than 28% after it reported a fiscal third-quarter earnings beat . Apollo Global Management — Shares rose nearly 3% after the asset management company's fourth quarter earnings topped estimates. The company reported $32 billion of inflows during the quarter, pushing its total assets under management to $651 billion.

Persons: Ralph Lauren —, Ralph Lauren, Morgan Stanley, Ally, Mattel —, Barbie toymaker, LSEG, Moody's, NYCB, FactSet's, —, Jesse Pound, Tanaya Macheel, Lisa Kailai Han, Michelle Fox Theobald Organizations: —, Revenue, Mattel, PayPal, New York Community Bancorp, Arm Holdings, Apollo Global Management, American, American Express, Maersk —, Maersk Locations: Danish

☆ Buy or avoid China? The pros share their take — and stock picks
▼ + stars: | 2024-01-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

But this week, China embarked on monetary easing as it pledged to reduce the amount of liquidity that its banks are required to hold as reserves. Earlier this week, Bloomberg News, citing sources, reported that China is considering a $278 billion package to rescue its stock markets. Andrew Lapping, chief investment officer at Ranmore Fund Management , says the sharp decline in China markets is an "opportunity." "So the stock market is certainly putting much higher equity risk premium ... there are also concerns about policy direction, policy clarity ... Renewable energy: China Longyuan Power Group, China Resources Power.

Persons: Brendan Ahern, CNBC's, Andrew, Winnie Wu, Guy Spier, CNBC's Tanvir Gill, —, Wu, what's, Ahern, Amundi, It's, Morgan Stanley, Michael Bloom, Evelyn Cheng Organizations: Bloomberg, Investors, Ranmore Fund Management, BofA Securities, CCP, JPMorgan, EV, UBS, Baidu, China Communications, China Construction Bank, Ping An Insurance, China Longyuan Power Group, China Resources Power Locations: China, United States, Industrials

☆ China investors will be asking these 3 questions in 2024
▼ + stars: | 2024-01-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CHONGQING, CHINA - JANUARY 02: People visit the 2nd International Light and Shadow Art Festival at the Fine Arts Park on January 2, 2024 in Chongqing, China. For all the geopolitical risks, the attraction of China as a fast-growing market has waned as the economy matures. Many were disappointed when China's economy did not rebound as quickly as expected after the end of Covid-19 controls in December 2022. Real estate is a clear example of a debt-fueled sector, one that has accounted for about a quarter of China's economy. Machinery, electronics, transport equipment and batteries combined contributed to 17.2% of China's economy in 2020, Citi analysts said.

Persons: it's, Jason Hsu, They're, Liqian Ren, Goldman Sachs, Ding Wenjie, Ding Organizations: Fine Arts, Art, Getty, Visual China, U.S, Citi, People's Bank of, Rayliant, Rayliant Global Advisors, National Bureau, China Asset Management Co, CNBC, Machinery Locations: CHONGQING, CHINA, Chongqing, China, BEIJING, Covid, People's Bank of China, Beijing, WisdomTree

☆ The US economy is in a Goldilocks period, and the Fed has a 'loaded gun' it can use if conditions worsen, Apollo co-president says
▼ + stars: | 2023-12-05 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The Fed has a "loaded gun" it can use if the Goldilocks economy worsens, Apollo Asset Management's co-president said. That's as the central back has kept rates high, giving policymakers room to lower them. "I would argue that the Fed put is back, sort of, on the market right now," James Zelter told Bloomberg TV. AdvertisementZelter noted the Fed has maintained "fairly high rates," which currently stand at 5.25%-5.5% — the highest since 2001 . Those Goldilocks conditions have helped stocks rocket upwards, as markets bet on the end of the Fed's rate hikes.

Persons: That's, James Zelter, —, Zelter, Mohamed El Organizations: Fed, Bloomberg, Service, Apollo Asset Management

☆ Wanxiang Trust: Another Chinese ‘shadow bank’ faces major financial trouble
▼ + stars: | 2023-12-05 | by ( Laura He | ) edition.cnn.com time to read: +4 min

A trust company usually manages funds for individuals, companies or other entities. The reports come two weeks after Zhongzhi Enterprise Group, another major shadow bank, declared itself “insolvent” after missing payments to its investors. Moody’s Investors Services also warned in September that China’s trust sector could face liquidity challenges during the current property downturn. The two medical trust products were related to a hospital project in Guizhou, which is one of China’s most indebted provinces, according to Cailianshe. Last month, at its twice-a-decade Central Financial Work Conference, the Chinese leadership stressed the importance of addressing risks more systematically across the financial sector and preserving overall stability.

Persons: Hong Kong CNN —, Cailianshe, Wanxiang, hasn’t, Zhongzhi Organizations: Hong Kong CNN, Hong Kong CNN — Wanxiang Trust, Century Business Herald, Wanxiang Group, Zhongzhi Enterprise Group, ”, Zhongrong, Zhongzhi Enterprise Group Bloomberg, Getty, Fitch, Moody’s, Services, Kaisa, CNN Local, Financial Work Conference Locations: China, Hong Kong, Hangzhou, Zhejiang, Beijing, Guizhou

☆ Regulation is the main sticking point for crypto as bitcoin inches to another new 2023 high
▼ + stars: | 2023-11-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin rallied to start the week, touched a new 2023 high to end it and suffered a brief drop in between, weighed down by the trouble at Binance. Bitcoin ended the week higher by about 4% after touching a new 2023 high on Friday above $38,000. Coin Metrics measures a week in crypto, which trades 24 hours a day, from 4:00 p.m. Optimism about the likely approval of a spot bitcoin ETF has been building for the past couple months, serving as the biggest catalyst for the cryptocurrency. The challenge is that active crypto trader positioning appears long, he added, based on activity in crypto futures, options, open interest and funding rates.

Persons: Bitcoin, Zach Pandl, bitcoin, Pandl, Michael Rinko, Biden, there's Organizations: CNBC, Regulators, Delphi Locations: Binance, Argentina, U.S

☆ Next level up for ETFs are actively managed funds, say money managers
▼ + stars: | 2023-11-19 | by ( Natalie Zhang | ) www.cnbc.com time to read: +2 min

Actively managed exchange-traded funds are having their time in the limelight as ETF managers seek new strategies beyond passive funds. "But with active management, you can differentiate assuming the active manager is actually doing something meaningfully different than the underlying benchmark," he added. While active ETFs have been around since 2008, the popularity took off in 2019 after the SEC eased launch restrictions. So far this year, the number of active ETFs that have launched have already overtaken passive ETFs by a ratio of three to one, according to Morningstar. While it's the firm's first active ETF, GMO has run a traditional actively managed mutual fund called the GMO Quality Fund (GQETX) since 2004.

Persons: Nate Geraci, Morningstar, Franklin, It's, Tom Hancock, we've Organizations: Edge, SEC, Asset Bond, Quality

☆ Europe markets tick higher at open, look set for weekly gains
▼ + stars: | 2023-11-17 | by ( Katrina Bishop | ) www.cnbc.com time to read: 1 min

European markets started Friday in the green after a reversal of momentum in the previous session. The pan-European Stoxx 600 index opened up 0.4% at 8 a.m. London time. It ended Thursday down 0.7%, with oil and gas shares leading falls on the back of weaker crude prices. It marked a change of pace for the index, which is still up 1.8% over the week to Thursday's close. U.K. retail sales figures for October are due Friday, along with a final reading of euro zone inflation for October.

Locations: London

☆ China moves to clean up Huarong’s “bad bank” brand
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of China Huarong Asset Management Co is seen at its office in Beijing, China, April 16, 2021. REUTERS/Thomas Peter Acquire Licensing RightsSINGAPORE, Nov 16 (Reuters Breakingviews) - What’s better than cleaning up your battered brand? That’s the view of China Huarong Asset Management (2799.HK), one of the country’s four so-called bad banks created after the 1997 Asian financial crisis to buy soured loans from state-owned lenders. Late on Wednesday, it renamed itself “China CITIC Financial Asset Management” after its top shareholder, state-owned financial conglomerate CITIC group. Now that Huarong has taken up the CITIC brand, the state’s support of the bad bank has more at stake if its troubles don't go away.

Persons: Thomas Peter Acquire, Lai Xiaomin, Huarong, Yawen Chen, Francesco Guerrera, Thomas Shum Organizations: Asset, REUTERS, Rights, Reuters, Asset Management, HK, Financial, Management, CITIC Ltd, CITIC, X, Goodyear, Alstom, Thomson Locations: China, Beijing, Rights SINGAPORE, Huarong, CITIC's Hong Kong

☆ Fidelity just slashed the fee for this big dividend ETF
▼ + stars: | 2023-11-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Fidelity is cutting the fees for a popular dividend fund nearly in half, the asset management company announced Monday. The Fidelity High Dividend ETF (FDVV) is seeing its fee cut to 15 basis points, or 0.15%, from 29 basis points. The fee cuts for FDVV and 12 other factor ETFs will reduce fees by $6 million annually, according to Fidelity. The FDVV has an average annual total return of 9.2% over the past five years. Those offerings, including the new Fidelity Enhance Large Cap Core ETF (FELC), will also see large drops in fees as part of the conversion process.

Persons: Greg Friedman, Fidelity's Organizations: Fidelity, CNBC, Morningstar, SEC, Core

[1/2] People walk past a booth of ICBC Credit Suisse Asset Management Co at the 2020 China International Fair for Trade in Services (CIFTIS), in Beijing, China September 5, 2020. China's foreign ministry spokesperson Wang Wenbin said that business remained normal at ICBC head office, other branches and subsidiaries across the globe. Some market participants said trades going through ICBC were not settled due to the incident and that market liquidity had been affected. ICBC said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday. While market sources said on Thursday the impact of the ICBC hack appeared limited, the attack underlined how vulnerable systems at large organizations continue to be.

Persons: Tingshu Wang, ICBC, Wang Wenbin, Wang, Jerome Powell, Lockbit, Harry Robertson, Yoruk, Dhara Ranasinghe, Alexander Smith Organizations: Asset Management, Fair for Trade, Services, REUTERS, Industrial, Commercial Bank of China, Global, ICBC's, Authority, Traders, U.S . Treasury, Federal, Treasury, Cybersecurity, Infrastructure Security Agency, Thomson Locations: Beijing, China, China's, ICBC's U.S, Europe, Hong Kong, Shanghai, London, Amsterdam

ICBC's U.S. unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. The cyberattack sent ripples through the U.S. Treasuries market, where ICBC acts as a broker for hedge funds and other market participants, helping them trade in the securities. The Chinese parent then injected capital into the U.S. unit, allowing it to settle the trades and pay back BNY Mellon, the sources said. They also told market participants about the capital injection but did not disclose the amount or the reason for it, the sources said. SIFMA, the trade group, organized calls for market participants with updates, the sources said.

Persons: Tingshu Wang, BNY Mellon, ransomware, ICBC, SIFMA, Janet Yellen, Lifeng, Scott Skyrm, Jack McIntyre, Harry Robertson, James Pearson, Naomi Rovinick, Yoruk, Davide Barbuscia, Chris Prentice, Mike Derby, Carolina Mandl, Laura Matthews, Paritosh, Zeba, Megan Davies, Dhara Ranasinghe, Alexander Smith, Richard Chang, Anna Driver Organizations: Asset Management, Fair for Trade, Services, REUTERS, Commercial Bank of China, U.S ., ICBC Financial Services, Securities Industry, Financial Markets Association, ICBC, Treasury, China, U.S, New York Federal Reserve, Securities, Depository Trust, Clearing Corp, Thomson Locations: Beijing, China, ICBC's U.S, U.S, San Francisco, Treasuries, Hong Kong, Shanghai, London, Amsterdam, Carolina, New York

☆ Moody's creates private credit rating and research group
▼ + stars: | 2023-11-06 | by ( Tatiana Bautzer | Thomson Reuters | Tatiana Bautzer Is A U.S. Banking Correspondent At Reuters In New York. She Previously Covered Banks In Brazil | ) www.reuters.com time to read: +1 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Nov 6 (Reuters) - Ratings agency Moody's (MCO.N) is creating a unit to research and rate private credit, the firm said on Monday. The global private credit market, with more than $1.3 trillion in assets under management, makes up about 12% of the alternatives market, investment firm BlackRock said in a recent report. Private credit is largely owned by buy-and-holdinvestors such as pension funds, endowments, foundations and insurance companies, the report said. "The rapid growth of the private credit market in recent years has introduced new challenges and opportunities for investors, who are looking for fresh analysis from a trusted source," said Moody's president Michael West. The private credit group will have a team of more than 50 analysts in different geographies looking into private credit in institutions such as business development companies, collateralized loan obligations, insurance and asset management companies.

Persons: Andrew Kelly, Ana Arsov, BlackRock, Michael West, Moody's, Arsov, Simon Harris, Tatiana Bautzer, Rod Nickel Organizations: Moody's Corporation, REUTERS, Moody's Investors Service, Thomson Locations: Manhattan , New York, U.S

☆ Here are Thursday's biggest analyst calls: Amazon, Sunrun, Qualcomm, Eli Lilly, SolarEdge, Estée Lauder and more
▼ + stars: | 2023-11-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America reiterates Qualcomm as buy Bank of America said it's standing by its buy rating on the stock after its earnings report Wednesday. Citi reiterates Eli Lilly as buy Citi said it sees further upside after the company's earnings report Thursday. RBC downgrades Estée Lauder to sector perform from outperform RBC downgraded the stock after the company's earnings report. Pivotal upgrades Roku to hold from sell Pivotal upgraded the stock after its earnings report Wednesday. " Guggenheim downgrades SolarEdge to neutral from buy The firm said it's "giving up" on its positive stance on the stock.

Persons: RUN's, Taylor Morrison, WK Kellogg, Truist, Amgen, it's, Citi, Eli Lilly, Janus Henderson, underperform KBW, Estée Lauder, F1Q, Bernstein, Hess, CVX, Guggenheim, SolarEdge, Stifel Organizations: Bank of America, Qualcomm, HSBC, Amazon, BMO, Toll, M.D.C . Holdings, JPMorgan, Health, of America, UBS, Eastman Chemical, Citi, Management, RBC, Chevron Locations: Ecommerce, China, U.S

☆ China firm launches stock indices to tap into rush for safe-haven gold
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A man cuts open the bag after he bought 50 gram gold bars as an investment in Beijing, China, August 5, 2019. The new indexes (.CSI931493), (.CSI931413), launched by the China Securities Index Co, include shares of global gold miners such as Newmont Corporation (NEM.N) and Barrick Gold . "Gold is the brightest asset at the moment... promising much better returns than Chinese property or the broad stock market," said Shihua Duan, general manager of Shanghai Changer Invest. China Asset Management Co and Maxwealth Fund Management Co last month launched China's first exchange-traded funds (ETFs) (517520.SS) that invest in gold stocks. "Buying the gold bar is the safest among so many investment choices," said gold investor Jack Liu, who spent 230,000 yuan ($31,425) on a gold bar in September.

Persons: Jason Lee, Shihua Duan, Jack Liu, Jason Xue, Samuel Shen, Miral Organizations: REUTERS, Rights, China Securities Index, Newmont Corporation, Barrick, Miners, Invest, China Asset Management, Maxwealth Fund Management Co, Beijing, Thomson Locations: Beijing, China, Shanghai, Ukraine, Summer, Hong Kong

Investors were also excited by Tuesday's approval of an additional 1 trillion yuan ($136.76 billion) of sovereign bond issuance. Drawing investors back into China's $10.5 trillion stock market, particularly the foreign buyers that have fled in droves this year, would stem further slides in a market which fell to its lowest since 2019 earlier this week. "China's central government is endorsing the stock market," said Qi Wang, chief investment officer of UOB Kay Hian's wealth management division in Hong Kong. Huijin last bought ETFs during the 2015 stock market crash, and during the money market liquidity crunch in 2013. Still, China's stock markets have to overcome earlier heavy selling from foreigners, burnt by Xi's previous crackdowns on internet companies and other sectors, and its earlier stringent zero-COVID policy.

Persons: China's, Huang Yan, QiuYang, Huang, Pan Gongsheng, Qi Wang, UOB Kay, Huijin, Fabiana Fedeli, Fedeli, Goldman Sachs, Samuel Shen, Ankur Banerjee, Brigid Riley, Vidya Ranganathan Organizations: Central Huijin Investment, Shanghai QiuYang, People's Bank of China, Sino, CSI, Huijin, China Asset Management Co, Singapore's United Overseas Bank, G Investments, Thomson Locations: SHANGHAI, SINGAPORE, Shanghai, China, Hong Kong, Tokyo

HONG KONG, Oct 25 (Reuters) - Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects. With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe. New share offerings in Hong Kong have fizzled. Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year. Chinese firms listed in Hong Kong, such as tech giants Tencent (0700.HK) and Alibaba (9988.HK), comprise the bulk of the turnover on the Hong Kong exchange, leaving Hong Kong hostage to China's fortunes.

Persons: Hong, John Lee, Dickie Wong, Rob Brewis, Aubrey, Eddie Tam, Alvin Cheung, Cheung, ”, Alex Wong, Alex KY, Wong, who'd, Summer Zhen, Xie Yu, Vidya Ranganathan Organizations: Nasdaq, Kingston Securities, Seng China Enterprises, HK, Aubrey Capital Management, Hong, Asset Investments, Prudential, Asset Management Company, Global, Thomson Locations: HONG KONG, China, Hong Kong, United States, Japan, Europe, Shenzhen

☆ Exclusive: Star Chinese fund manager Wang detained and under investigation - sources
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Oct 13 (Reuters) - Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources with knowledge of the matter. The 52-year-old founder of Qianhe Capital Management in Shenzhen and Top Ace Asset Management in Hong Kong is the latest high-profile Chinese business executive to be investigated or detained. His case relates to an investigation into Zhu Congjiu, a former senior official at China's top securities regulator, the sources said. Before setting up his own shop, Wang spent 14 years at China Asset Management Co (AMC), one of the country's largest mutual fund houses, as its vice-president and chief investment officer. Zhu is one of several former China Securities Regulatory Commission (CSRC) officials to come under scrutiny in recent years.

Persons: Wang Yawei, Zhu Congjiu, Wang, Zhu, Xi, Sumeet Chatterjee, Edwina Gibbs Organizations: Qianhe Capital Management, Asset Management, Communist, Central Commission, Ministry of Public Security, Qianhe, China Asset Management Co, AMC, China Securities Regulatory Commission, Shanghai bourse, Reuters, Thomson Locations: China, Shenzhen, Hong Kong, Zhejiang province

☆ Here are Wednesday's biggest analyst calls: Meta, Tesla, Nvidia, Apple, Sunrun, Alphabet, Snowflake & more
▼ + stars: | 2023-10-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.

Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23

☆ UBS and China's ICBC to explore banking, asset and wealth management collaboration
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Sept 26 (Reuters) - Swiss banking group UBS (UBSG.S) said on Tuesday it had signed a memorandum of understanding with the world's largest lender by assets, Industrial and Commercial Bank of China (ICBC) (601398.SS), , to explore strategic collaborations in China and overseas markets. The banks will explore cooperation in asset management, wealth management, and investment and corporate banking, according to a UBS statement. The deal includes product development and distribution, client coverage, global market trading, investment and financing, research, asset custody and exchange of expertise. UBS acquired its smaller cross-town rival Credit Suisse in June, through which it now holds a 20% stake in ICBC Credit Suisse Asset Management Company, a fund joint venture previously partially owned by Credit Suisse. Reporting by Selena Li; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Persons: Selena Li, Kevin Liffey Organizations: UBS, Industrial, Commercial Bank of China, Credit Suisse, ICBC, Asset Management Company, Thomson Locations: HONG KONG, Swiss, China

☆ Wall Street's hottest career move: the volatile, lucrative world of private credit
▼ + stars: | 2023-09-18 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

So it's no wonder that through the past couple of years, working on and around private credit deals has become Wall Street's career du jour. Private credit is most often floating-rate debt — that is, debt where interest rates rise in concert with rate hikes. 'Unheard of' salaries, while risks abound in the marketIt's worth noting what private credit is: we're talking about debt and loans. "For most of my career, attracting new attorneys to private credit was a challenge. Proskauer's private credit group now has 90 lawyers, 24 of whom are partners, working full-time on private credit.

Persons: that's, Marc Rowan, Marc Lipschultz, Goldman Sachs, Paul Heller, Hannah Robb, Robb, It's, Cliffwater, Heller, Caldwell, Banks, Carlyle, Blackstone, Marco Acerra, Spencer Stuart, it's, Acerra, Richard Fernand, Nicholas Kalogeropoulos, Sam Iles, I've, Mike Mezzacappa, Evan Palenschat, Robert Lewin Organizations: Blackstone, Partners, CFA Institute, Columbia Business School, Wall Street, Alpha FMC, Barclays, Goldman Locations: New York

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

Dudamel was hired in February to become the Philharmonic's music director for the 2026-27 season. As part of the gift, the music director will become The Oscar L. Tang and H.M. Agnes Hsu-Tang Music and Artistic Director Chair starting with the 2025-26 season, when Dudamel becomes music director designate. The 42-year-old Dudamel has been music director of the Los Angeles Philharmonic since 2009, a tenure that will end after 17 seasons when he starts in New York. He quit as music director of the Paris Opéra in May, two seasons into a six-year contract scheduled to run through the 2026-27 season. Oscar Tang, 85, has been part of the philharmonic board since 2013 and has been co-chairman with Peter W. May, since 2019.

Persons: Gustavo Dudamel, Oscar L, Tang, Agnes Hsu, Dudamel, L, H.M, Oscar Tang, Peter W Organizations: New York Philharmonic, Tang, Los Angeles Philharmonic, Paris, philharmonic, Reich Locations: New York

☆ Opinion | Vivek Ramaswamy Is a LinkedIn Post Come to Life
▼ + stars: | 2023-09-08 | by ( Farhad Manjoo | ) www.nytimes.com time to read: +3 min

Last year, for a column I was writing about the power that large asset managers like BlackRock and Vanguard exert over the global economy, I called up Vivek Ramaswamy. Today, I mostly don’t even use that word anymore; it’s not part of my vernacular today. I just wanted you to know that, since I saw you mused about the etymology of the title in your piece. It certainly wasn’t cooked up in a Fox News lab, and in all honesty the goal wasn’t to trigger anyone. but that he represents a distinct, very familiar flavor of irritation: He’s the epitome of millennial hustle culture, less a Tracy Flick know-it-all than a viral LinkedIn post come to life.

Persons: Vivek Ramaswamy, Ramaswamy, I’m, ”, “, it’s, aren’t, Tracy Flick Organizations: BlackRock, Vanguard, Inc, Fox News, Republican, LinkedIn Locations: Silicon

Fundraising and deal-making have dropped sharply at European private debt funds, new data shows. Faisal Ramzan, a partner at law firm Proskauer Rose who advises private credit funds, said he was not seeing default. "There's plenty of dry powder," said Fidelity International's head of private credit strategies Michael Curtis, referring to capital raised already. Joanna Layton, managing director of European private credit at Alcentra, one of Europe's largest private debt managers, added there was "no rush" to deploy capital. High rates have also made private credit less appealing to institutional investors, analysts said.

Persons: Henry Nicholls, Francesco Sandrini, BoE, Andrew Cruickshank, Cruickshank, Pictet, Patrick Marshall, Faisal Ramzan, Proskauer Rose, Michael Curtis, Joanna Layton, Mark Brenke, Ardian, Chris Sier, Sier, Dhara Ranasinghe, Catherine Evans Organizations: City, REUTERS, Reuters Graphics Reuters, The Bank of, European Central Bank, Graphics, Deloitte, Fitch, Federated Hermes, Fidelity International, ClearGlass, Thomson Locations: London's, London, Britain, The Bank of England

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