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☆ 'Big Short' investor Michael Burry broke down his iconic bet against the US housing bubble during a 2008 meeting with a Warren Buffett acolyte - but his warning and advice were ignored.
▼ + stars: | 2023-05-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Michael Burry told a Warren Buffett disciple exactly how to bet against the housing bubble in 2008. However, Mohnish Pabrai ignored the warning and advice from "The Big Short" investor. Burry invited the head of Pabrai Investment Funds to his office, and immediately launched into a detailed explanation of his iconic bet against the housing bubble, Pabrai recalled during a recent Mint interview. "He implored me to go long CDS on MBS," Pabrai said about Burry in a recent tweet. Burry repeatedly sounded the alarm on the housing bubble before it imploded, but virtually nobody listened.

☆ Ima Keithel: The world’s largest women-run market
▼ + stars: | 2023-04-24 | by ( ) edition.cnn.com time to read: +7 min

CNN —At first glance, Ima Keithel is much like any other market. Priya Kharaibam, for example, is the third generation of her family’s pottery traders at Ima Keithel, following on from her grandmother. The creation of Ima Keithel dates back to the 16th century Kangleipak Kingdom, when it began as a makeshift, open-air market for bartering crops. An overhead shot of a busy afternoon at Ima Keithel. We want to be responsible mothers.”These days Ima Keithel is a microcosm of Manipur’s egalitarian society.

☆ Here's what to do if you find a secret inappropriate boss-employee relationship in your workforce
▼ + stars: | 2023-04-13 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

Office romance is tricky— especially if you find out a manager is in a relationship with a report. I have heard from someone on my team that one of my employees is in a close relationship with a woman he supervises. "You could be wrong, and if you accuse Roger of something untrue, that could hurt your relationship with him," she said. Anticipate that Roger will deny the relationship or push back and say it's none of your business. Say that you're not trying to police people's lives but that the relationship creates a conflict of interest.

☆ China's SenseTime shares jump on planned new AI products event
▼ + stars: | 2023-04-04 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

HONG KONG, April 4 (Reuters) - China's SenseTime on Tuesday announced plans for a technology discussion day, boosting shares in the artificial intelligence (AI) firm. Shares in the company, which has been sanctioned by the U.S., gained more than 10% in Hong Kong on Tuesday. SenseTime, which is best known for its computer vision technology, did not elaborate on the type of AI products it would demonstrate. The company did not respond when asked about the planned event which is to be held on Monday in Shanghai. SenseTime said at the time that it strongly opposed the U.S. ban and would work with relevant authorities to resolve the situation.

☆ A widow is accusing an AI chatbot of being the reason why her husband killed himself
▼ + stars: | 2023-04-04 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

A widow in Belgium said her husband recently died by suicide after being encouraged by a chatbot. Chat logs seen by Belgian newspaper La Libre showed Chai Research's AI bot encouraging the man to end his life. The "Eliza" chatbot still tells people how to kill themselves, per Insider's tests of the chatbot on April 4. But the "Eliza" chatbot then started encouraging Pierre to end his life, per chat logs his widow shared with La Libre. When reached for comment regarding La Libre's reporting, Chai Research provided Insider with a statement that acknowledged Pierre's death.

☆ Tencent says it will keep cutting costs as annual revenue drops
▼ + stars: | 2023-03-22 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

HONG KONG, March 22 (Reuters) - Tencent Holdings (0700.HK) on Thursday vowed to keep cutting costs and work on increasing efficiencies as it reported a drop in annual revenue for the first time ever, with its founder saying the company would stay focused on its core business. Tencent posted revenue of 554.55 billion yuan ($81 billion) for 2022, down 1% from a year earlier. Analysts on average had expected 555.15 billion yuan, according to Refinitiv. Profit attributable to equity holders fell 16% to 188.24 billion yuan for the year versus a consensus estimate of 114.19 billion yuan. Reuters reported last month that Tencent was working on a ChatGPT-like chatbot named the "HunyuanAide" which will incorporate Tencent's Hunyuan AI model.

The company's Ernie bot is based off its AI-driven deep learning model, Ernie - short for "Enhanced Representation through Knowledge Integration". During the presentation at Baidu's Beijing headquarters that was also livestreamed over nine platforms, Li cautioned it was not perfect. "After the release of ChatGPT, only Baidu has made a benchmark product among the major tech companies in the world," it said. "We continue to advise investors to patiently hold BIDU shares as the best 'national champion' play in China’s (semi-segregated) AI space," he said. "Ernie Bot is not a tool of confrontation between China and the United States," he said.

Many of the arrivals abandoned plans to seek asylum in the United States, deterred by long processing times and restrictive definitions for asylum, according to aid officials and interviews with asylum seekers. "We want to help asylum seekers stabilize their lives whether in New York City or elsewhere." REUTERS/Christinne Muschi Acquire Licensing RightsThe Quebec government has said the increase in asylum seekers is straining its capacity to house people and provide basic services. The federal government said it has relocated more than 5,500 asylum seekers to other provinces since June, the first time it has done so. Immigration experts said closing off the border to asylum seekers could push migrants to take even riskier routes.

Persons: Zulema Diaz, Maryangel Diaz, Carlos Osorio, Diaz, Justin Trudeau, Joe Biden, Sean Fraser, Alejandro Mayorkas, Trudeau, Biden, Zulema, Eric Adams, Kate Smart, Fabien Levy, Smart, Ilze Thielmann, Raymond Theriault, Theriault, Christinne, Pierre, Luc Bouchard, You’re, Jamie Chai Yun Liew, Anna Mehler Paperny, Ted Hesson, Denny Thomas, Suzanne Goldenberg Organizations: REUTERS, New, . Homeland, Washington , D.C, Ottawa, New York City, Department of Homeless Services, U.S . Department of Homeland Security, Reuters Graphics Canada, United, Colombian, Immigration, Refugee Board, Canadian, Reuters, U.S, . Citizenship, Immigration Services, TLC, Border Patrol, University of Ottawa, Thomson Locations: U.S, Quebec, Niagara Falls , Ontario, Canada, CHAMPLAIN , New York, WASHINGTON, Peru, United States, New York City, Plattsburgh, Washington ,, New York State, New York, Haitian, Syracuse, El Paso, West Virginia, Niagara Falls, Guatemala, Champlain , New York, Montreal, Canada's province, Manitoba, Washington

[1/5] Asylum seekers board a bus after crossing into Canada from the U.S. in Champlain, New York, U.S., February 28, 2023. Many of the arrivals abandoned plans to seek asylum in the United States, deterred by long processing times and restrictive definitions for asylum, according to aid officials and interviews with asylum seekers. "We want to help asylum seekers stabilize their lives whether in New York City or elsewhere." The Quebec government has said the increase in asylum seekers is straining its capacity to house people and provide basic services. Immigration experts said closing off the border to asylum seekers could push migrants to take even riskier routes.

☆ I just had my 2nd iPhone stolen by a thief on a bike. I didn't think insurance was worth it, but now I feel like I made a very expensive mistake.
▼ + stars: | 2023-03-04 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

A thief on a bike grabbed my iPhone 14 Pro Max out of my hand Wednesday. It was the second time someone stole my iPhone, which I didn't think would happen again. I didn't feel like insurance was worth the cost, but now think I made an expensive mistake. Then it was gone: My iPhone 14 Pro Max was in the hands of a man on a bike speeding away from me. They attempted to steal all my belongings, including my iPhone 11 Pro Max and MacBook Pro.

☆ Hong Kong to scrap COVID mask mandate from March 1
▼ + stars: | 2023-02-28 | by ( Farah Master | ) www.reuters.com time to read: +2 min

The special administrative region of Hong Kong is one of the last places globally that still imposes a mask mandate. Hong Kong and Macau both followed China's zero-COVID policy for much of the past three years. Hong Kong started unwinding its stringent COVID rules last year but mask-wearing has remained constant since 2020. People wearing face masks walk through Wan Chai during the coronavirus disease (COVID-19) pandemic in Hong Kong, China, April 14, 2022. Reporting by the Hong Kong newsroom; Writing by Farah Master; Editing by Shri Navaratnam and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ A former Starbucks barista shares how she makes 5 popular drinks at home: 'It's easy and just as good'
▼ + stars: | 2023-02-28 | by ( Stefania Marzelia | ) www.cnbc.com time to read: +3 min

Home recipes inspired by Starbucks' most popular drinksI recommend purchasing a moka pot, which is a stove-top or electric coffee maker. Here are some of my favorite at-home recipes, inspired by popular Starbucks drinks (based on a 16-ounce cup size): 1. Add some ice and pour espresso over it. Pour milk in. Heat to desired temperature (I heat mine to 150 degrees) and pour into a coffee mug.

☆ ‘The Hard Road Out’ Review: A Prison Break Across Borders
▼ + stars: | 2023-02-14 | by ( Melanie Kirkpatrick | ) www.wsj.com time to read: 1 min

Thanks to the testimonies of North Koreans who have escaped their prison of a homeland in the past 25 years, the world is aware of the Kim-family regime’s atrocities against its own people. It is quite another to read personal accounts. “The Hard Road Out” by Jihyun Park and Seh-lynn Chai is the latest in a series of searing memoirs by North Koreans who beat the odds and reached safety in free countries. Ms. Park and her South Korean co-author relate Ms. Park’s awful story in clear-eyed, unsentimental prose. It is a gripping read.

☆ Marc Lore co-founded Jet.com and ran e-commerce at Walmart. Now he's out to prove he can make the delivery of 'fast fine' restaurant food work in NYC.
▼ + stars: | 2023-02-14 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

Instead of using kitchen vans, Wonder is preparing chef-driven meals from a storefront. Lore, who cofounded the e-commerce site Jet.com and sold it to Walmart, had plans to expand Wonder to a fleet of 1,000 kitchen vans. Storefronts can offer consumers up to 30 food brands for delivery from one location, while the van model was limited to two menus per van. ClusterTruck, a Midwest ghost kitchen that controls everything from the food recipes to delivery, is another model similar to Wonder. Still, Lore sees the value of marketing Wonder's food brands on delivery apps.

☆ Finance Chiefs, Facing Another Year of Persistent Inflation, Prioritize Cost Savings
▼ + stars: | 2023-02-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

Finance chiefs are pushing their companies to do more with less as they face another year of rising costs. Obviously, we’re dealing with a very unique environment right now with the unprecedented level of cost inflation. But we’re not in that environment right now. Ideally, we can grow as the demand environment hopefully normalizes. And that’s going to give us more optionality as we better understand our demand for AI over time.

☆ Premarket stocks: Welcome to the 'rolling recession' economy
▼ + stars: | 2023-02-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Yet US manufacturing has likely already contracted into a recession, housing sales have plummeted, tech layoffs keep coming and corporate earnings growth is souring. “We continue to think the economy will suffer from rolling recessions, evidenced by the fact that corporate earnings growth is now entering its downturn,” wrote Sonders in a note on Wednesday. For five straight weeks, the bank’s clients have been big buyers of individual stocks and sellers of ETFs, she wrote. Disney revenue in the quarter rose 8% to $23.5 billion, edging past estimates of $23.4 billion from analysts surveyed by Refinitiv. The company reported revenue of $8.6 billion for the quarter, beating Wall Street’s estimates and marking a 49% increase from the prior year.

☆ How China planted an FBI mole who was discovered only after gutting the CIA's vast spy network
▼ + stars: | 2023-01-18 | by ( James Bamford | ) www.businessinsider.com time to read: +25 min

At the time, four years after the handover from Britain to China, much of Hong Kong remained a world of neon and noise. "Five years ago, everyone looked down on you if you spoke Mandarin," said a Beijing executive living in Hong Kong. As soon as the Hong Kong Arts Festival ended, the Hong Kong International Film Festival began. In February 2006, Alex Ma, China's mole in the FBI, sent David photos he received from his handlers of five suspected human sources. Born in Hong Kong like Alex, Lee grew up in Hawaii and became a naturalized U.S. citizen.

Summary Abraham Accords meant to lead to wider normalisationBut four new Arab partners of Israel now in tough spotHow to deal with rightists without ditching Palestinians? It is expected to be the widest-ranging deal of its kind between Israel and an Arab state. "This is the proof that one can make peace without concessions, without capitulation - but rather, peace, peace, between people who have affection for one another," he said in comments published by the conservative Israel Hayom newspaper. “Arab countries who formed normalisation ties with the state of occupation are required more than ever to revise these agreements,” he told Reuters by phone. Netanyahu has pledged to build on the achievement during his previous term of the Abraham Accords that opened the way for a possible normalisation of relations with other Arab countries.

☆ Tender sale of Evergrande's Hong Kong headquarters fails again -sources
▼ + stars: | 2023-01-03 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

[1/2] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly SongHONG KONG, Jan 3 (Reuters) - A tender for the sale of embattled China Evergrande Group's (3333.HK) headquarters in Hong Kong has lapsed again, two sources with knowledge of the matter said on Tuesday, because the offer prices and terms fell short of requirements. The tower had been pledged against a loan of HK$7.6 billion from lenders led by the Hong Kong subsidiary of Chinese state-owned China Citic Bank Corp Ltd (601998.SS). Evergrande and Savills, the agent for the tender sale, declined to comment. ($1=7.8102 Hong Kong dollars)Additional reporting by Ziyi Tang in Beijing; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Lenders fail to sell Evergrande's Hong Kong headquarters by tender - sources
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly SongHONG KONG, Jan 3 (Reuters) - The tender sale of embattled China Evergrande Group's (3333.HK) Hong Kong headquarters has lapsed again, two sources with knowledge said, because the offer prices and terms did not meet requirements. Chinese state-owned China Citic Bank Corp Ltd (601998.SS), whose Hong Kong subsidiary leads the lender group, did not immediately respond to request for comment. Evergrande and Savills, agent for the tender sale, declined to comment. ($1 = 7.8102 Hong Kong dollars)Reporting by Clare Jim; Additional reporting by Ziyi Tang in Beijing; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Will Netanyahu clip the wings of his new cabinet hawks?
▼ + stars: | 2022-12-30 | by ( Dan Williams | ) www.reuters.com time to read: +6 min

Both are West Bank settlers averse to Palestinians' self-rule - let alone their hopes of statehood. Netanyahu's previous 15 years as premier saw him feathering the nests of the hawks in his cabinet - or clipping their wings - as he deemed necessary. But that may have to wait, as Ben-Gvir's portfolio does not grant major powers in the West Bank, which is under the overall control of the military. Arguably, Ben-Gvir, 46, and Smotrich, 42, can afford to shelve some of their agendas for this round with Netanyahu, 73. Smotrich's advocacy of Jewish claims on the West Bank is informed by a doctrinaire faith in Bible prophesy.

☆ Factbox: Top ministers in Israel's new religious-nationalist cabinet
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +4 min

JERUSALEM, Dec 29 (Reuters) - Israeli Prime Minister-designate Benjamin Netanyahu has unveiled his new government that includes religious and nationalist parties. In the past, he has agitated against Israel's Arab minority citizens, condemned LGBT activists and called the justice system too liberal. NATIONAL SECURITY MINISTER ITAMAR BEN-GVIRA West Bank settler who heads the far-right Jewish Power party, Ben-Gvir secured an expanded cabinet ministry in charge of police. His appointment to the new Netanyahu government has been challenged in Israel's Supreme Court given his conviction for tax fraud - without prison time - last year. Shas, along with another ultra-Orthodox party, United Torah Judaism, has long raised concerns among secular liberals by demanding welfare benefits and military draft exemptions for its constituents.

☆ How London became the divorce capital of the world for the mega-rich
▼ + stars: | 2022-12-26 | by ( Bill Bostock | Charles R. Davis | ) www.businessinsider.com time to read: +5 min

A UK judge ordered Sheikh Mohammed of Dubai to pay a $679 million divorce settlement to his ex-wife. Princess Haya had filed for divorce in London, known as "the divorce capital of the world." It also reaffirmed London's status as the de facto "divorce capital of the world," at least for the rich and famous. The often-cited case — "White v White" — concerns Martin White and Pamela White, farmers from Somerset who filed for divorce in 1994. Lawyers for Khoo told the court that his case had enhanced "the ill-gotten reputation of this country for being the divorce capital of the world."

Even home remedies such as canned peaches are being snapped up by people looking for ways to fight Covid. Macao is another special administrative region of China, while Zhuhai is a southern mainland Chinese city which it borders. Current rules don’t allow medicines to be mailed directly from Hong Kong to mainland China, according to the salespersons. Sending agents directly from Hong Kong, which also shares a land border with the mainland, isn’t feasible due to a lack of available agents, Simon said. In Macao, the drug regulator ordered pharmacies last week to limit purchases of pain relievers, fever medicines and antigen test kits.

As a woman in South Asian culture, I was taught that I wasn't supposed to be good with money. In fact, I can recall several conversations with aunties in our community advocating that we younger South Asian girls just "marry a rich Indian boy, from a good family." When it comes to South Asian women's relationship with money and their ability to attain financial agency, it's important to understand cultural context. "It became standard to try and pick up the bill, even when I knew I couldn't afford to, because this was something I'd seen up front and center in South Asian culture. Cultural expectations and narratives play a huge role in our ability as South Asian women to make different decisions, especially when it comes to our money and building wealth.

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