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☆ This HR expert started sending candidates job interview questions in advance—here's why
▼ + stars: | 2024-09-30 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

Contrary to how most hiring managers operate, Taylor sent job candidates the interview questions in advance. While hiring for a new leader, she wanted to try an unusual strategy she felt would foster a more equitable interview process. From her perspective, "people that can think on their feet, it doesn't mean they're really good at their job," Taylor says. Case in point, Taylor asked each job candidate what they thought of her sending the interview questions in advance. People that can think on their feet, it doesn't mean they're really good at their job.

Persons: Holly Taylor, Taylor, they'd, they've, didn't Organizations: Public, CNBC Locations: London

☆ How Prada is beating the odds and bucking the luxury slump
▼ + stars: | 2024-09-30 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

"I think the 'miracle' at Prada is Miu Miu," Luca Solca, a senior analyst at Bernstein, told Business Insider. Miu Miu is doing just that. "Miu Miu is resonating with consumers because of a savvy mix of product and communication marketing," Solca said. Miu Miu has embraced stars (Sydney Sweeney and Gigi Hadid were featured in recent campaigns), which has energized its following. AdvertisementIn short — pun intended — you can't get trendier than Miu Miu right now, and being trendy is good for business.

Persons: that's, Miu Miu, Luca Solca, Bernstein, Miu, —, Moncler, Stifel's Rogerio Fujimori, Edward Berthelot, Solca, Sydney Sweeney, Gigi Hadid, Lexie Liu, Zhao Jinmai, Wu Yanshu, Miu Miu's Mary Jane, It's, Prada, Prada hadn't, Jelena Sokolova, Morningstar, Burberry, Gucci, Andrea Guerra, Raf Simons, Muccia Prada, Goldman Sachs, Gen, Scarlett Johansson, Arqué, Sokolova, Alessandro Michele, Guerra, L'Oréal, " Guerra Organizations: Prada, HSBC, Little, Business, New York Times, LVMH, Gucci Locations: Prada, Asia, China, Tokyo, Taipei, Nanjing, LVMH, Hong Kong

☆ HSBC: the Malaysian Ringgit is boosted by central bank policy and 'promising' structural reform
▼ + stars: | 2024-09-30 | 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 EmailHSBC: the Malaysian Ringgit is boosted by central bank policy and 'promising' structural reformYun Liu of HSBC says Malaysia's economic growth is 'on fire at all fronts', and discusses strength of the ringgit and increasing amount of Chinese investments into the country specifically related to green transition.

Persons: Yun Liu Organizations: HSBC Locations: Malaysian

☆ Stocks to play the China trade until the latest stimulus package kicks in
▼ + stars: | 2024-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Until the government's measures pan out, investment strategists are recommending a handful of oversold stocks in China. U.S. hedge fund billionaire David Tepper said Thursday on CNBC's " Squawk Box " that he bought more Chinese stocks after the change in China policy. That hedge fund allocation rose to 7.3% on Tuesday, which saw the largest single day purchases by hedge funds since March 2021, Rubner said. Retail investors account for the majority of trading activity in mainland Chinese stocks, also known as A shares. Mainland Chinese stock exchanges are scheduled to close from Oct. 1 to Oct. 7 for a holiday, which this year commemorates the 75th anniversary of the People's Republic of China.

Persons: Wendy Liu, Rupal Agarwal, Bernstein, David Tepper, Donald Trump, Tepper, Pan Gongsheng, Xi Jinping, Scott Rubner, Goldman Sachs, Rubner, Goldman, China hasn't, Li Dongfang, Li, financials, — CNBC's Michael Bloom Organizations: CSI, JPMorgan, Tal Education, Huawei, People's Bank of China, CNBC, HK Locations: Shanghai, Shenzhen, China, Tsingtao, U.S, Zhejiang, Asia, Hong Kong, Beijing, Mainland, People's Republic of China

New York City Mayor Eric Adams will step into a Manhattan courtroom and into the history books on Friday when he is arraigned on federal corruption and bribery charges that could force him out of office. Adams is the first sitting New York City mayor to be indicted on criminal charges in the modern era. “This was a multiyear scheme to buy favor with a single New York City politician on the rise,” U.S. Attorney Damian Williams said Thursday. Adams' indictment capped two weeks of turmoil in his administration, a period during which Banks, the city’s police commissioner, and the city's top lawyer, have announced their resignations. “You could almost picture them trying to cobble this together and try to tell a story so that they could say, ‘corruption, corruption’ at a press conference,” Spiro said at a Thursday press conference.

Persons: Eric Adams, Adams, David Banks, ” Adams, ”, ensnared Adams, Damian Williams, Banks, Alexandria Ocasio, Sen, John Liu, New York — Sen, Chuck Schumer, Hakeem Jeffries, Kathy Hochul —, “, Adams ’, Alex Spiro, ” Spiro, Edward Caban, James Caban, ” Williams Organizations: York City, New York City, City, New York City Schools, New York Fire Department, Democratic, ” Prosecutors, Turkish, Adams . Police, Authorities, Queens Locations: York, Manhattan, New York City, Brooklyn, Turkish, U.S, Alexandria, Cortez, New York, India, France, China, Hungary, Ghana, Turkey, Istanbul, Washington, Adams

☆ As Eric Adams prepares to appear in court, the number of Democrats calling for his resignation keeps growing
▼ + stars: | 2024-09-27 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

New York City Mayor Eric Adams is set to appear in court over bribery and wire fraud charges. AdvertisementAs New York City Mayor Eric Adams prepares for court, the number of Democrats calling for his resignation is growing. Meanwhile, at least four members of the New York City Council have encouraged Adams to step back, the outlet said. We deserve better, which is why Mayor Adams should step down," Sandy Nurse wrote on X. Hochul issued a statement on Thursday asking Adams to "find an appropriate path forward to ensure the people of New York City are being well-served by their leaders."

Persons: Eric Adams, Adams, —, Katharine Parker, Alexandria Ocasio, Cortez, Brad Lander, Lander, John Avlon, Laura Gillen, Avlon, Sandy Nurse, Sen, John C, Liu, Kathy Hochul, Hochul Organizations: York City, Service, New York City, New York Times, New, Democratic Locations: York, Manhattan, Rep, Alexandria, New York City, Brad Lander , New York, New York, . New York

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

☆ NYC Mayor Eric Adams charged with bribery and wire fraud in scheme spanning nearly 10 years
▼ + stars: | 2024-09-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan_Dienst_Byline.Jpg | Jonathan Dienst | ) www.nbcnews.com time to read: +6 min

New York City Mayor Eric Adams has been hit with five federal charges – including wire fraud, bribery and solicitation of a contribution by a foreign national – according to a sprawling 57-page federal indictment unsealed Thursday. Although the Bentley Suite for two nights would have cost approximately $7,000, Adams paid less than $600, the indictment says. And so, the building opened as requested by a Turkish official who had plied Adams with travel benefits and other gifts, the indictment says. In addition to the free travel and hotel rooms, Adams received illegal campaign contributions from foreign donors, including the Turkish government official, the indictment says. Adams has repeatedly said that his administration is cooperating in the investigations and he's focused on his work as mayor.

Persons: Eric Adams, Adams, ingratiate, Damian Williams, Gracie, Alexandria Ocasio, Brad Lander, Sen, John Liu, New York – Sen, Chuck Schumer, Hakeem Jeffries, Kathy Hochul –, Hochul, Edward Caban, James Caban, he's, ” Adams, “ Organizations: York City, Prosecutors, Southern, of New, Brooklyn Borough President, Regis, Bentley, York City’s, New, New York City Fire Department, FDNY, Turkish, Washington , D.C, Gracie Mansion, Wednesday, Gov, FBI, Adams . Police, Authorities, Queens Locations: York, Brooklyn, Regis Istanbul, Turkey, New York City, Turkish, Washington ,, Alexandria, Cortez, New York, Adams, Manhattan

☆ CEO who coined 'coffee badging' says it shouldn't have a 'negative connotation'
▼ + stars: | 2024-09-26 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

Love it, hate it or wished it stayed under wraps, the secret on coffee badging is out, and not everyone is a fan. Some have faced repercussions: 70% of workers said they've been caught coffee badging by their bosses, and 16% are now required to be in the office for the full day. "There shouldn't be a negative connotation to coffee badging," says Frank Weishaupt, CEO of Owl Labs, who says he does it too. Being strategic about in-office time means "you're meeting with your colleagues, you're mentoring employees, you're being mentored or you're doing other collaboration activities," he says. Coffee badging, on the other hand, can boost productivity, he says, by inspiring teams to audit their calendars and be intentional about their in-person collaboration versus independent work time.

Persons: they've, doesn't, Frank Weishaupt, Weishaupt, he's Organizations: Owl Labs, CNBC

☆ Survey: 73% of Amazon workers are considering quitting after 5-day in-office mandate
▼ + stars: | 2024-09-26 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Amazon workers have until January before they'll be expected in corporate offices five days a week, but some aren't expecting to stick around that long. In a recent survey of 2,585 Amazon employees on anonymous job review site Blind, 73% said they are considering looking for a new job following CEO Andy Jassy's recent memo announcing a full-time return-to-office. Further, 80% of the Amazon professionals polled reported that they know of a colleague considering looking for another job because of the announcement. Another survey from Glassdoor finds that 74% of Amazon workers are "rethinking" the future of their careers, whether at the tech giant or elsewhere. Amazon workers are "strongly dissatisfied" with the policy change, according to an anonymous survey created by employees, reported by Fortune.

Persons: they'll, Andy Jassy's, Jassy, we've Organizations: Slack, Amazon, CNBC

☆ These 10 in-demand startups are hiring right now—many roles are remote and pay $100,000 or more
▼ + stars: | 2024-09-25 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

Startups aiming to revolutionize artificial intelligence technology and health care are among the buzziest organizations to work for right now — and many of them are hiring for lucrative and remote jobs. 1 startup in LinkedIn's annual analysis of startups seeing rapid growth and demand. Rounding out the top three, Boston-based Cohere Health leverages AI to streamline processes in the health care system with the goal of enhancing both patient care and administrative efficiency. Altogether, these startups represent big opportunities for tech workers, especially those with machine learning specialties. Here are the top 10 startups seeing high growth and demand, plus some of their open roles and pay ranges, according to LinkedIn:

Persons: they've Locations: San Francisco, New York City, Boston

☆ PVH Corp: China threatens sanctions on Calvin Klein owner over Xinjiang cotton boycott
▼ + stars: | 2024-09-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Beijing says it’s investigating fashion retailer PVH Corp, the owner of Calvin Klein and Tommy Hilfiger, for refusing to source cotton from the Xinjiang region, in a move that could lead to sanctions on an American company with major business interests in China. The ministry said in a statement that New York-based PVH (PVH) is suspected of “violating normal market transaction principles” by boycotting cotton sourced from China’s far western region of Xinjiang. Being banned by China would deal a big blow to PVH, which, like other global fashion firms, sources extensively in the country. Western apparel brands have faced pressure in China over their position on Xinjiang cotton before. In March 2021, Swedish multinational H&M was pulled from major e-commerce stores in China and blocked by several major navigation, review and rating apps.

Persons: Hong Kong CNN —, Calvin Klein, Tommy Hilfiger, Biden, PVH, “, Joe Biden, …, ” Organizations: Hong Kong CNN, Hong Kong CNN — Beijing, PVH Corp, Commerce Ministry, CNN, Chinese Ministry of Commerce, US, State Department Locations: China, Hong Kong, Xinjiang, United States, York, “, Swedish

☆ I'm ditching social media for a bit. Experts agree disconnecting will be beneficial: 'Silence is a secret weapon'
▼ + stars: | 2024-09-24 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

Five days ago, I did something revolutionary for a Gen Zer: I deleted all the social media apps from my phone. Social media dependency is a real problem, recent data shows. So much of my free time throughout the day was consumed by mindless scrolling on the social media platform X and Instagram. Disconnecting allows time for a self-auditGoing on a 30-day silent retreat is a much greater challenge than ditching social media for a few days. One commonality between social media detoxes and silent retreats is that Jerjian and Liu also weren't able to access social media during the retreats — where the use of phones wasn't allowed outside of emergencies.

Persons: George Jerjian, Weiting Liu, Arc.Dev, Liu, Jerjian, He's, It's Organizations: CNBC

☆ It's the 'year of the mandate' at offices, but hybrid and remote aren't dying
▼ + stars: | 2024-09-24 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

Even so, the share of people working remotely and hybrid has ticked up in the last year, while those working from an office full-time declined, according to a new report. Another 11% say they work fully remotely, up from 7% in the last year, according to the report. The remaining 62% say they work from a physical office five days a week, down from 66% this time last year. It's "a surprise" to see remote and hybrid work increase slightly in what's shaping up to be "the year of the mandate," says Frank Weishaupt, CEO of Owl Labs. But hybrid workers continue to face challenges in what they want versus what their employers require.

Persons: Frank Weishaupt Organizations: Amazon, Citigroup, Walmart, UPS, Owl Labs

☆ Goodbye Louis Vuitton. China’s Gen Z leans into ‘dupe economy’ as growth prospects stall
▼ + stars: | 2024-09-23 | by ( Juliana Liu | ) edition.cnn.com time to read: +8 min

Mainly a print model, Zheng used to rake in 30,000 yuan ($4,230) a month when she began working two years ago. Some are virtually indistinguishable from the real thing, while others are inspired by the original design and offer morecolors or textures. The popularity of this product category is soaring as consumer confidence in China nears a historic low, according to analysts. Shoppers are sitting on the sidelines due to a combination of falling stock prices, capital flight and “tepid” wage growth, the economists said. A Hong Kong court ordered the liquidation of the Chinese property giant on on January 29.

Persons: Zheng Jiewen, Zheng, “, ”, Louis Vuitton, Chanel, Laurel Gu, Lulu, dupes isn’t, Nomura, Xinxin, Greg Baker, Nicole Hal, “ I’ve, Goldman Sachs Organizations: Hong Kong CNN, CNN, Prada, Reuters, Shoppers, Barclays, Hong, Getty, Goldman Locations: China, Hong Kong, Guangzhou, Shanghai, Asia, Japan, Chongqing, Beijing, AFP, Europe, “

☆ China stimulus calls are growing louder — inside and outside the country
▼ + stars: | 2024-09-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Local residents with umbrellas walk out of a metro station in rain during morning rush hour on September 20, 2024 in Beijing, China. China News Service | China News Service | Getty ImagesBEIJING — More economists are calling for China to stimulate growth, including those based inside the country. His presentation Saturday at Renmin University's China Macroeconomy Forum was titled: "A basket of stimulus and reform, an economic revitalization plan to substantially expand domestic demand." "The elephant in the room is the property market," said Xu Gao, Beijing-based chief economist at Bank of China International. To restore confidence and stabilize the property market, Xu said that policymakers should bail out the property owners.

Persons: Liu Shijin, Liu, Goldman Sachs, China's, Xu Gao, Xu, Nomura, Gabriel Wildau, Teneo, Yi Gang, Wildau, Yi Organizations: China News Service, Getty, Development Research, State Council, CNBC, China Macroeconomy, Goldman, Bank of China International, Center for, People's Bank of China Locations: Beijing, China, BEIJING, Renmin, Center for China, U.S

The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.

Persons: Tan, ” Tan, “, Peng Xiujian, ‘, Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, ” Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia

☆ OpenAI CEO Sam Altman shares his No. 1 strategy for living without regrets: You should 'put a huge premium' on it
▼ + stars: | 2024-09-17 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He may not have known it at the time, but in 2005 Sam Altman took a risk that changed the trajectory of his career. It "seemed like a really fun thing to try," Altman, 39, told students during an interview at his alma mater, the St. Louis-area John Burroughs School. On the other hand, a one-way door risk is harder to undo. The risky thing is to not go try the things that might really work out.

Persons: Sam Altman, That's, Altman, OpenAI Altman, Jeff Bezos, Lex, Bezos Organizations: Economic, John Burroughs School Locations: Davos, Switzerland, Stanford, Louis

☆ One of China's neighbors says it's pulled a key patrol vessel out of the South China Sea after a 5-month standoff
▼ + stars: | 2024-09-16 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewThe Philippines has withdrawn one of its key patrol vessels from the South China Sea, where tensions with China have been growing in recent months. But, he added, its presence in the waters had been "further complicated by the structural damage to the vessel resulting from the deliberate ramming by the China Coast Guard on August 31, 2024." AdvertisementThe Teresa Magbanua has operated since April around Sabina Shoal — a disputed island in the South China Sea that has become a key flash point between the Philippines and China. Earlier this month, the Philippines' Rear Adm. Roy Vincent Trinidad told the Daily Tribune that the Teresa Magbanua had been outnumbered by more than 50 Chinese ships. China "has indisputable sovereignty over Xianbin Jiao and its adjacent waters," Liu Dejun, a spokesperson for China's Coast Guard, said, using the island's Chinese name.

Persons: —, Jay Tarriela, BRP Teresa Magbanua, Teresa Magbanua, Tarriela, Roy Vincent Trinidad, Lucas Bersamin, Xianbin Jiao, Liu Dejun, Teresa Magbanua's, Alexander Lopez, Lopez Organizations: Service, Coast Guard, BRP, Philippine Coast Guard, Business, China Coast Guard, South China, coastguard, Daily Tribune, National Maritime Council, Armed Forces, Guard, China's Coast Guard, Reuters, Sunday Locations: South China, China, Philippines, Sabina, South, Philippine, China's, Sabina Shoal, Xianbin

☆ China’s retail sales and industrial data miss expectations in August
▼ + stars: | 2024-09-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China's retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday. Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. Fixed asset investment rose by 3.4% for the January to August period, slower than the forecast of 3.5% growth. The urban unemployment rate was 5.3% in August, an uptick from 5.2% in July. The youth unemployment rate in July was 17.1%.

Persons: Liu Aihua Organizations: National Bureau, Statistics, Reuters, Investment, National Bureau of Statistics Locations: Hangzhou, China, BEIJING

Many mental health advocates worry whether the Georgia community will receive the mental health support it is likely to need in the wake of the shooting. Andy Miller for KFF Health NewsSo health providers worry that in the coming days, months, and years the community will struggle to find help for their mental health needs. Georgia ranks nearly last among states in access to mental health care resources, according to Mental Health America, a nonprofit that advocates for increased mental health spending. The lack of mental health care remained a top concern in the region during a follow-up assessment in 2022. But immediately following the shooting, mental health providers across the region still had to cobble together free resources for area residents.

Persons: ” Amanda McKee —, Asa Deslonde, Apalachee —, “, Howard Liu, Andy Miller, ”, Sean Couch, Barrow, Roland Behm, Behm, Tamara Conlin, William Smith, Paul Soost, Conlin, Dr, Sanjay Gupta, McKee, Asa ., Richard Aspinwall, ” McKee, “ They’re Organizations: Health, Apalachee High School, Northeast, Northeast Georgia Medical, International Association for Suicide Prevention, Befrienders, Apalachee, Communications, American Psychiatric Association, KFF Health, Georgia Health, Georgia Mental Health, Partnership, Mental Health America, U.S Census Bureau, Behavioral Health Systems, Health Survey, Barrow County School System, Northeast Georgia Medical Center, Lutheran Church Charities, Atlanta Center, CNN, CNN Health, KFF Locations: WINDER, Ga, Northeast Georgia, Barrow, Atlanta, Georgia, Barrow County, Athens, Gainesville, Northeast Georgia Medical Center Barrow, Winder , Georgia, Nebraska, , Texas

☆ South Korea’s Hyundai and US’ GM to work together on developing new cars
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hyundai and General Motors (GM) have agreed to look for ways to work together on developing new vehicles, supply chains and technologies in an effort to cut costs and move more quickly. Global carmakers are under intense pressure to come up with new electric vehicle (EV) and battery technology because they face vehicle emissions regulations around the world. South Korea’s Hyundai and America’s GM (GM) said on Thursday they would collaborate on joint product development, manufacturing and future clean energy technologies. The non-binding framework agreement was signed by Hyundai Motor Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Including its affiliate Kia, Hyundai Motor is the world’s third-largest automaker by sales, according to Reuters, while GM is currently America’s largest carmaker, having retaken that title from Toyota in 2022.

Persons: Hong Kong CNN —, They’re, Euisun Chung, Mary Barra, “, ” Barra, ” Chung, Cruise Organizations: Hong Kong CNN, Hong Kong CNN — Hyundai, General Motors, Global, EV, Korea’s Hyundai, America’s GM, Hyundai Motor, Kia, Hyundai, Reuters, GM, Toyota, Nissan, Renault, Honda, — Locations: Hong Kong, Japan

☆ The biggest red flag in a job interview, according to hiring expert of 20 years
▼ + stars: | 2024-09-12 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Like a lot of hiring managers, Adriane Schwager likes to ask candidates about times in their career they've made a mistake. Usually, it's to get an idea of how you handle stressful situations and how you learn from previous errors. For Schwager, the CEO and co-founder of the hiring platform GrowthAssistant with 20 years of recruiting experience, the answer can uncover a big red flag: whether the person has low ownership of their work. Take an example where someone forgot to send something important to accounting, and it cost the business $250,000, she says. Sometimes, she can also tell whether a candidate has low ownership based on how they describe why they left their previous job.

Persons: Adriane Schwager, they've, Schwager Organizations: CNBC

☆ Bao Fan: a CEO went missing. Then his bank got a mysterious bill for $11 million
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A Chinese investment bank known for making some of the biggest deals in the country’s tech sector during its heyday has revealed it received a massive bill for 78 million yuan ($11 million) related to the disappearance of its star banker, Bao Fan. The request for payment from unspecified Chinese authorities only deepens the mystery surrounding the whereabouts of Bao, who founded boutique investment bank China Renaissance in Beijing in 2005 and made it one of the top dealmakers for Chinese tech firms. He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. In February 2023, China Renaissance reported him missing amid a wider anti-corruption crackdown. CNN has reached out to the investment bank for additional information.

Persons: Bao Fan, Bao, Mr Bao, Zhonghui, Deloitte Touche Tohmatsu Organizations: Hong Kong CNN, Economic Observer, Central Commission, CNN, Financial Times, China Renaissance, Zhonghui Anda CPA, Deloitte Locations: China, Hong Kong, Beijing, Dianping, Bao, Zhonghui Anda

☆ Chinese-Owned Bitcoin Mines Are Using up America's Energy, Electricity
▼ + stars: | 2024-09-10 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +13 min

Concerns about the use of cryptocurrencies for illegal activity resulted in an effective ban on crypto mining and transactions. After a massive public outcry at the end of 2021, mining companies in Kazakhstan were effectively cut off from the grid. Today, the US makes up about 40% of the global hashrate — up from 17% during China's 2021 peak — making America the biggest hub for bitcoin mining. However, in recent years, bitcoin mining has become increasingly concentrated in the hands of a small number of private companies. Given how much energy bitcoin mining consumes, it's worth questioning whether its presence in the US is really worth the trade-off.

Persons: Xi Jinping, Zoe Liu, hasn't, pushback, haven't, Jeremy Fisher, Fisher, Gladys Anderson, Kelley Sayre, Stephanie Marsh, Marsh, Gavin Newsom, would've, Donald Trump, Trump, Satoshi Nakamoto, Saifedean Ammous, Cheyanne Diehl, wasn't, Biden, Joe Biden, Liu Pengyu, America Organizations: Council, Foreign Relations, Mining, Cambridge, Goodyear, Sierra, Environmental, New York Times, Tech, Gov, Securities and Exchange Commission, July's Bitcoin, SEC, National Bureau of Economic Research, Inc, Nasdaq, Embassy, EV, Sierra Club, City Council, Digital Locations: China, Kazakhstan, America, Utah, West Virginia, Akron , Ohio, Rockdale , Texas, Murphy , North Carolina, Massillon , Ohio, Bono , Arkansas, Vilonia , Arkansas, Akron, California, Nashville, Massillon, Ohio, Chinese, Massillon's City, In Arkansas, Wyoming, Washington, Harrison , Arkansas

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