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☆ Silicon Valley Bank red flags: Why did almost everyone fail to predict its collapse?
▼ + stars: | 2023-03-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. To embrace a uniquely Silicon Valley ethos that champions boldness, growth and disruption. Silicon Valley Bank held 55% of its customers' deposits in long-dated bonds whose value eroded as interest rates went up. Silicon Valley Bank held an unusually large proportion (55%) of its customers’ deposits in long-dated Treasuries. And for most of that year, Silicon Valley Bank was operating with a massive vacancy in its corporate leadership team: a chief risk officer.

☆ Wealth managers ramp up staff in Hong Kong to chase Chinese demand
▼ + stars: | 2023-03-24 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, March 24 (Reuters) - Wealth management firms are expanding operations aggressively in Hong Kong to meet pent-up demand from rich Chinese individuals looking to invest more money overseas after three years of COVID-19 curbs, industry sources said. Noah Holdings (NOAH.N), the largest independent wealth management firm in China, was among five private banks and wealth management firms Reuters talked to that said they held client events in the city and organised private art tours. Hywin Holdings (HYW.O), another Chinese wealth manager, invited 30 ultra-high-net worth clients to workshops, fund manager visits and even a yacht party in Hong Kong last week. Chinese financial institutions are vying for this growing wealth management business in Hong Kong. Chinese Everbright Bank and Hua Xia Bank set up private banking departments in Hong Kong in the past few months, according to sources familiar with their plans.

Employees have been working around the clock to onboard as many startups as possible in the wake of the implosion of Silicon Valley Bank. Silicon Valley Bank, which had more than $175 billion in deposits and served nearly half of US VC-backed startups, was taken over by US regulators on March 10. "That said, I am worried that this bias towards a Big Four bank is a double-edged sword," Shekar added. "SVB did not think like a big bank. They could understand your operating plan when a big bank would balk at it," Ashley Tyrner, CEO and founder of FarmBoxRX, told Insider.

☆ Premarket Stocks: Who do we blame for the fall of SVB?
▼ + stars: | 2023-03-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Blame the Fed: SVB’s downfall was largely caused by a record $42 billion bank run that left the bank in desperate need of cash. But the Fed’s rate hikes had undermined the value of bonds, a critical source of capital for SVB. “The Federal Reserve failed as a bank supervisor,” he wrote. On Capitol Hill, frequent Fed critic Sen. Elizabeth Warren has been quick to blame Federal Reserve Chair Jerome Powell for a lack of oversight. Blame SVB: Others say the blame should be placed on the banks themselves.

☆ China's pig farms battle new surge in African swine fever
▼ + stars: | 2023-03-15 | by ( Dominique Patton | ) www.reuters.com time to read: +4 min

"Data from swine fever virus testing companies show that the number of positive detections exploded after the new year holiday. "We guess that the current swine fever infection area in northern production areas may be reaching 50%," it added. We feel it hasn't ended yet, that's the problem," he said, declining to be identified due to the sensitivity of disease outbreaks in China. HARD TO ASSESSChinese farms typically do not report disease outbreaks to the government, making it challenging to get an accurate picture of the extent of the infections. Though not as serious as in 2019, the disease could reduce production by more than 10%, Huachuang analyst Xiao Lin told Reuters.

☆ China plans to revamp finance, tech oversight
▼ + stars: | 2023-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Lintao Zhang | Getty Images News | Getty ImagesBEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator. The moves also come as Beijing has increased regulation on parts of the economy that had developed quickly, with little oversight. The latest plan calls for the establishment of a National Financial Regulatory Administration, which replaces the China Banking and Insurance Regulatory Commission and expands its role. watch nowThe China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator. "China's consolidated financial regulatory body is [a] paradigm shift to ramp up oversight of its vast financial system," said Winston Ma, adjunct professor of law at New York University.

☆ Factbox: Chinese business tycoons, executives who disappeared from public view
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +5 min

Following is a list of some other high-profile Chinese executives who have abruptly gone missing from public view in recent years. Three months later, On Nov. 27, the company said Yang had resumed his duties after assisting an investigation in China. Shares and bonds related to CEFC China Energy plunged on the news, which was first reported by Chinese magazine Caixin. Chinese financial regulators in 2020 took over brokerages, trust companies and insurers linked to the group. Reporting by Brenda Goh and Xie Yu; Editing by Sumeet Chatterjee and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street has purchased hundreds of thousands single-family homes since the Great Recession. Here's what that means for rental prices
▼ + stars: | 2023-02-21 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, D.C., lawmakers believe that Wall Street needs to back away from the market. Khanna is the lead author of the Stop Wall Street Landlords Act of 2022. "What's outrageous is your tax dollars are helping Wall Street buy up single-family homes," he said in an interview with CNBC. Since the early 2010s, Tricon Residential, Progress Residential, American Homes 4 Rent, Invitation Homes have each bought thousands of homes.

☆ China Renaissance CEO Bao Fan goes missing
▼ + stars: | 2023-02-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —One of China’s top investment bankers has become unreachable, according to his company. China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO. Shares of the company plunged as much as 50% in Hong Kong on Friday following the news. Bao did not immediately respond to messages from CNN on WeChat on Friday, while China Renaissance hasn’t yet responded to a request for comment. Chinese authorities detained Cong Lin, the company’s president, in September, it reported, citing unidentified sources.

☆ China's EV giant BYD in talks to acquire insurer Yi'an
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/FilesSHANGHAI, Jan 31 (Reuters) - Chinese electric vehicle (EV) giant BYD said on Tuesday it is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial conglomerates. Chinese business publication Caixin reported earlier this month, citing unnamed sources, that BYD would fully take over the insurer and would use it to start an insurance business targeting electric vehicles. Yi'an P&C Insurance was among nine firms Chinese regulators seized from the Tomorrow Holdings conglomerate in July 2020. China banking and insurance regulator said last year it had agreed to allow Yi'an P&C Insurance to enter bankruptcy and reorganisation procedures.

☆ Australia says it's 'troubled' by delays in writer's espionage trial verdict in China
▼ + stars: | 2023-01-19 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, Jan 19 (Reuters) - A verdict in the espionage trial of Australian writer Yang Hengjun, detained by China since his arrest there four years ago, has been delayed until April, the seventh such delay, his supporters said on Thursday. Pro-democracy blogger Yang is an Australian citizen born in China who was working in New York before his arrest at Guangzhou airport in 2019, coinciding with deteriorating relations between Australia and China. A Beijing court heard Yang's trial in secret in May 2021 and the case against him has never been publicly disclosed. "The Australian government is deeply troubled by the ongoing delays in his case. A verdict in Yang's trial has been delayed by the court seven times, and his lawyer was told the deadline had been extended a further three months to April, his supporters told Reuters.

☆ ‘Eat All the Ice Cream’ and Other Top Tips From Isaac Mizrahi’s Kitchen
▼ + stars: | 2023-01-07 | by ( Kathleen Squires | Photographs Linda Xiao For The Wall Street Journal | ) www.wsj.com time to read: 1 min

IT’S EASY TO SEE why Isaac Mizrahi’s Instagram feed is everyone’s favorite cooking show right now. The renowned fashion designer/actor/singer/producer’s videos, shot in his Bridgehampton, N.Y., and Manhattan kitchens, showcase his warm personality as well as his sporadic screw-ups. “This is exactly how cooking shows should be!” one commenter gushed. “They are always too perfect and intimidating!”On any given “episode” of his highly entertaining one-man show, Mr. Mizrahi (@imisaacmizrahi) might welcome his “darlings” to cook along, or to peek inside his drawer full of ice cream scoops, or to compose a cocktail along with him while he watches “Jeopardy!”

The country spent big on quarantine and testing facilities over the past three years rather than bolstering hospitals and clinics and training medical staff, these people said. "There is no transition time for the medical system to prepare for this," said Zuofeng Zhang, professor of epidemiology at the University of California, Los Angeles. The failure to boost vaccination rates among the vulnerable could imperil China's health system, more than a dozen experts said. The death of a 23-year-old medical student in Chengdu on Dec. 14 fueled public ire at the strain on China's health system. Chen Jiming, a researcher at China's Foshan University, said there was every chance that China's medical system could cope now that the country has ended quarantine for asymptomatic and mild cases.

How Bots Pushing Adult Content Drowned Out Chinese Protest TweetsTwitter and its new owner, Elon Musk, have recently vowed to crack down on bots. When contacted, two businesses that appeared in spam tweets said that they had purchased the tweets using advertising services. The bots posting content during the protest did not focus on related hashtags; instead they included broader terms like the names of Chinese cities alongside adult content. BOT n BOT BOT BOT Searching for “北京” A search on Twitter for “Beijing” in simplified Chinese brought up tweet after tweet of spam ... BOT BOT BOT BOT Searching for “Beijing” ... but searching for “Beijing” in English showed no bot or spam activity among the top tweets. Bot advertising on Twitter A company listed on some spam tweets confirmed it ran an advertising business using bots.

Gao Mingjun’s mother, who works and lives at the Foxconn industrial park in Zhengzhou, Henan, was forced to wait outside in the middle of the night when one of her co-workers tested positive.

☆ More than 1,000 Teslas were recalled in Australia over a steering defect, days after a fatal Tesla crash in China killed 2 people
▼ + stars: | 2022-11-16 | by ( Britney Toh | ) www.businessinsider.com time to read: +3 min

Over 1000 Tesla vehicles were recalled in Australia due to a steering system defect, per the Australian Department of Transport. The defect increases the risk of the vehicle's electronic assist steering system losing power. The authorities recalled the vehicles on Wednesday due to a malfunction in the steering system, per an Australian Department of Transport report. The Australian Department of Transport recalled 326 Tesla Model 3 vehicles two weeks ago over defective seat belts. The latest recall comes on the heels of a crash involving a Tesla Model Y vehicle in China on November 5 that killed two and injured three others, per Reuters.

☆ Workers are fleeing from Foxconn, China's biggest iPhone factory, by climbing over fences and walking down highways on foot amid COVID fears, photos and videos show
▼ + stars: | 2022-10-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Workers are reportedly fleeing the world's largest iPhone factory in droves, amid a Covid outbreak. Dramatic photos and videos of Foxconn workers escaping the Zhengzhou compound have made their way online. Foxconn said it's continuing to implement pandemic prevention measures in Zhengzhou park, including setting up a 24-hour hotline for employees. The Foxconn outbreak happened just as Apple enters the crucial holiday quarter for retail trade. Foxconn shares are flat on Monday, trading at 45.50 New Taiwan Dollars, or $1.41 apiece, on the Taiwan Stock Exchange.

☆ China is an 'attractive market' with 'inexpensive' stocks after big drops, fund manager says giving 3 picks
▼ + stars: | 2022-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

"China, in particular, is an attractive market [when stocks are] under 10 times earnings," Arcese said when speaking to CNBC "Pro Talks." The average price target of 291 Hong Kong dollars ($37.1) means analysts expect the stock to rise by 105% over the next 12 months. Alibaba, JD's competitor and one of the largest companies in China, is buy-rated by 45 out of 47 analysts surveyed by FactSet. The median price target at 135 HKD signifies a 119% upside potential. On average, analysts have a 397 HKD price target on the stock equating to a 92% upside.

☆ Self-driving robotaxis are taking off in China
▼ + stars: | 2020-12-03 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

On Thursday, AutoX, an Alibaba (BABA)-backed startup, announced it had rolled out fully driverless robotaxis on public roads in Shenzhen. Previously, companies operating autonomous shuttles on public roads in the country were constrained by strict caveats, which required them to have a safety driver inside. In Shenzhen, AutoX has completely removed the backup driver or any remote operators for its local fleet of 25 cars, it said. Race of the robotaxiWhile AutoX has claimed an edge in China, it’s not the first time fully driverless shuttles have hit public roads. In June, Didi, China’s biggest ride-hailing firm, began offering free rides in its autonomous vehicles within a designated area of Shanghai.

☆ Oameni din întreaga lume au votat și i-au ales pe cei mai frumoși bărbați ai planetei. Iată cine sunt primii 25 de câștigători!
▼ + stars: | 2020-11-12 | by ( ) unica.md time to read: 1 min

Deja de 20 de ani, site-ul de divertisment TC Candler publică listele cu cei mai frumoși 100 de bărbați și femei din lume. Din iulie anul trecut, milioane de vizitatori ai portalului de Internet au votat pentru cei care, în opinia lor, au meritat să câștige în anul 2019. Potrivit Bright Side, iată cine sunt primii cei mai frumoși 25 de bărbați ai anului trecut. Kim Mingyu23. Xiao Zhang5.

Persons: Bright, Mario, . Kim Mingyu, Alexey, Cha, Patrick Schwarzenegger, David Beckham, 17, Henry Cavill, Kang Daniel 15, Marlon, Evan Jogia, Timothy Chalamet, Harry Styles, Chris Hemsworth, Jason Derulo, Tony Mahfood, Jensen, Zhang, . Jason Momoa, . Wee, Kim Tae, Shawn Mendes, Felix, Jung Organizations: Park

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