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☆ The Longer This Cake Soaks, the Better It Is
▼ + stars: | 2023-11-29 | by ( Ligaya Mishan | ) www.nytimes.com time to read: +3 min

Sometimes those neighbors find an unexpected connection, like a love of condensed milk: milk boiled down until it’s thick enough to cling to the spoon, with sugar added to make it last longer. Yoo first tasted the cake in elementary school in Queens, on a day students were asked to bring in a dish from their heritage. He tried different brands of Thai tea and decided that a minimalist version, with just tea, vanilla and food coloring, would be best. Yoo goes so far as to leave the cake in the refrigerator for two nights, flipping it in between. The cake is finished with whipped cream, coconut flakes toasted near gold and lime zest with its bright sting.

Persons: Yoo, ”, they’re, Gail Borden, Rachel Laudan, Nestlé, It’s Organizations: Shaker Locations: New Yorker, America, American, New York, Queens, Mexico, Nicaragua, England

☆ The Chicken Tycoons vs. the Antitrust Hawks
▼ + stars: | 2023-11-29 | by ( H. Claire Brown | ) www.nytimes.com time to read: +4 min

Khan came to prominence in 2017 after she published a Yale Law Review article called “Amazon’s Antitrust Paradox.” Her article pointed out that while Amazon’s business was extraordinarily customer-friendly, the company’s dominance enabled it to control increasingly large swaths of the ecosystem in which it operated. Shouldn’t the government be able to limit the impacts of Amazon’s market power on vendors and workers even if its consumers aren’t unhappy? Like the Justice Department, the Federal Trade Commission also has the power to police antitrust violations. Among these marquee names and splashy allegations, chicken companies stand out for the sheer volume and variety of antitrust lawsuits filed against them. Plaintiffs included pretty much everyone the poultry processors did business with — their customers, their farmers, their workers and their shareholders.

Persons: Wu, Khan, ” Wu, Biden, Simon, Simon & Schuster Organizations: Yale, Justice Department’s, Google, Justice Department, JetBlue, Spirit Airlines, Antitrust Division, Penguin Random, Simon &, Federal Trade Commission, Meta, Microsoft, Activision, Pilgrim’s Locations: Maine

[1/6] Ola electric scooters are seen outside the Ola Electric Service Centre, in Thane on the outskirts of Mumbai, India, October 25, 2023. Aggarwal's Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years. But he acknowledged service capacity issues and said Ola was "aggressively" bolstering its service network by adding 100 new centres and hiring more technicians. 'TESLA FOR WEST, OLA FOR REST'Aggarwal often declares, "Tesla is for the West, Ola for the rest", and he's a man in a hurry. "Electric vehicles are new to people so they aren't aware of how to ride the vehicle to maximise optimal output," he said.

Persons: Francis Mascarenhas, it's, Elon Musk, Aggarwal's Ola, Tesla, Ola, Devendra Ghuge, Aggarwal, Ola EVs, Ravi Bhatia, Bhatia, Japan's SoftBank, Ronald Radhakrishnan, Koradia, Riddhima Talwani, Aditi Shah, Rishika Sadam, Sriram, Arpan Chaturvedi, Anushree, Pandya, Francis Mascerehnas, Varun Vyas, Munsif, Jatindra, Saurabh Sharma, Sumit Khanna, Jose Devasia, Aditya Kalra Organizations: Ola Electric Service Centre, REUTERS, Staff, Reuters, JATO Dynamics, WEST, OLA, West, Singapore's Temasek, Industry, Hero Electric, TVS, EV, Ola, Fayaz Bukhari, Thomson Locations: Thane, Mumbai, India, THANE, HYDERABAD, DELHI, MUMBAI, Chennai, Bengaluru, India's, U.S, China, Kochi, New Delhi, Bhubaneswar, Lucknow, Ahmedabad, Jose, Srinagar

☆ Pack your jerseys. The era of 'sports tourism' is here
▼ + stars: | 2023-11-27 | by ( Randy Mulyanto | Marylou Costa | ) www.cnbc.com time to read: +6 min

Sports tourism, as it's called, is one of the fastest-growing sectors in the travel industry, according to the United Nations World Tourism Organization. "The sport tourism market will continue as long as new opportunities to play and compete exist," she said. Justin Setterfield | Getty Images Sport | Getty ImagesFor some countries, these events are an opportunity to raise their international standing. Patrick Smith | Getty Images Sport | Getty ImagesTravel + Leisure Co. and Sports Illustrated Resorts announced plans to open a network of sports-themed resorts in American college towns. Ryan Pierse | Getty Images Sport | Getty Images

Persons: Lisa Delpy Neirotti, George, Neirotti, Delpy, Justin Setterfield, Cristiano Ronaldo, Dustin Johnson, Saudi Crown Prince Mohammed bin Salman, Delpy Neirotti, Lewis Hamilton, Kym Illman, Jay Wardle, Narendra Modi, Robert Cianflone, Gianni Infantino, Major League Baseball —, Patrick Smith, GetYourGuide, Ryan Pierse Organizations: Summer, Games, Sports, United Nations World Tourism Organization, George Washington University's, Management, Sport, Padres, NFL, MLB, FIFA, Getty, CNBC Travel, Saudi Crown, Fox News, Adara, ICC Men's Cricket, The Bank of Baroda Economics Research, Narendra, MotoGP, Rugby, Las Vegas, Companies, Major League Baseball, Sports Illustrated Resorts, University of Alabama —, McLaren Technology, U.S ., CNBC, Olympic Games, Olympic Locations: Mexico City, Germany, London, Brisbane, Australia, Saudi Arabia, China, Qatar, Singapore, India, New Zealand, Indonesia, France, United States, Tuscaloosa , Alabama, U.S, New York

☆ Huawei to move smart car operations to new joint company with Changan
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 26 (Reuters) - China's Huawei (HWT.UL) said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales and service of intelligent automotive systems and component solutions, Huawei said in a press release. "The new company will ... work with partners to promote innovation and leadership in smart car technology and promote the prosperity and development of the automotive industry," the release said. "The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing said. Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.

Persons: Yu Chengdong, Changan, Laurie Chen, Brenda Goh, Edmund Klamann Organizations: Huawei, Changan Auto, Chongqing Changan Automobile, Shenzhen Stock Exchange, Seres, Chery, Thomson Locations: BEIJING, Chongqing, China, Shenzhen, Beijing, Shanghai

☆ Black Friday shoppers spent a record $9.8 billion in U.S. online sales, up 7.5% from last year
▼ + stars: | 2023-11-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Black Friday's spending spike reflects a consumer who is more willing to spend than in 2022, when gas and food prices were painfully high. Pandya noted that impulse purchases may have played a role in the Black Friday growth since $5.3 billion of the online sales came from mobile shopping. A Mastercard analysis of this year's Black Friday sales found that in-store sales rose just over 1% versus online sales, which grew by over 8% compared to last year. Black Friday kept the momentum going from the day before on Thanksgiving when online sales totaled $5.6 billion, according to a prior Adobe analysis. The report forecasts that online shoppers will spend roughly $10 billion over the course of Saturday and Sunday, and a record $12 billion on Cyber Monday.

Persons: they're, Vivek Pandya, Pandya Organizations: Woodbury, Adobe Analytics, Adobe Digital, Adobe, Mastercard, Target Locations: Lacoste, Central Valley , New York, U.S

☆ OpenAI’s Cast of Characters
▼ + stars: | 2023-11-22 | by ( Jennifer Korn | Paul Glader | ) edition.cnn.com time to read: +12 min

Before OpenAI, Altman was president of Y Combinator, mentoring a host of founders and expanding his network in Silicon Valley. “We are encouraged by the changes to the OpenAI board,” he wrote on X on Wednesday. Mira MuratiNamed by the OpenAI board as Altman’s interim successor on Friday, Murati was replaced by Shear before the weekend was done. In September, she joined the board of directors of Shield AI, a defense technology company building AI pilot technology for aircraft. Will HurdAfter joining the OpenAI board in 2021, Hurd was the third director to exit in 2023.

Persons: OpenAI, Sam Altman, Altman, Elon, Satya Nadella, OpenAI’s ChatGPT, Kiko, Emmett Shear, Y, Nadella, ”, Mira Murati, Murati, Shear, “ Mira, ” Nadella, Ilya Sutskever, Brockman, Sutskever, “, we’ve, Adam D’Angelo D’Angelo, Mark Zuckerberg, D’Angelo, Forbes, ” Bret Taylor, Bret Taylor, Elon Musk, Taylor, Justin Kan, Tasha McCauley McCauley, Joseph Gordon, Levitt, McCauley, Greg Brockman Greg Brockman, Peter Thiel, Musk, Helen Toner Toner, AI’s, Toner, Joshua Kushner Kushner, Kushner, Jared Kushner, Karlie Kloss, Charles Kushner, Donald Trump, Larry Summers Summers, Obama, Clinton, Summers, Shivon Zilis, Zilis, Walter Isaacson, Will Hurd, Hurd, Nikki Haley, Reid Hoffman, Hoffman, OpenAI . Hoffman, He’s Organizations: CNN, Stanford University, Microsoft, OpenAI, Colby College, Dartmouth University, Tesla, Time, Phillips Exeter Academy, California Institute of Technology, Facebook, Twitter, Google, Yale University, Justin.tv, GeoSim Systems, Rand Corporation, Centre, Bard College, University of Southern, Harvard University, MIT, Elon, Georgetown’s Center for Security, Emerging Technology, Open, Oscar Health, Memphis Grizzlies, Harvard College, Harvard Business School, Republican, CIA, Allen & Company, Texas, M University, Reid Hoffman LinkedIn, PayPal, LinkedIn, Greylock Partners, SpaceX, Boring Company Locations: Silicon Valley, St, Louis , Missouri, OpenAI, Seattle , Washington, Israel, University of Southern California, North Dakota, Beijing, Georgetown, Canada, United States, Texas, Oxford

☆ Bain Capital raises $7.1 bln in largest pan-Asia PE fund this year
▼ + stars: | 2023-11-21 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. Bain Capital said the firm itself committed $750 million to Bain Capital Asia Fund V, alongside existing and new investors. At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data. Bain Capital, which started fundraising in the second half of 2022, had an initial target of $5 billion. Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets globally.

Persons: Kim Kyung, you've, David Gross, Gross, Toshiba Corp's, Bain, Kane Wu, Jacqueline Wong Organizations: Bain Capital, REUTERS, Bain Capital Asia Fund V, Bain Capital's, Bain, ., Toshiba, Chindata, Estia, Intelligence, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, U.S, Bain Capital's Asia, . Asia, China, India

☆ 'Give him the benefit of the doubt': Why one gay GOP leader is holding his fire on Mike Johnson — and wants to know if he has any gay friends
▼ + stars: | 2023-11-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +17 min

Again, not to predetermine or predispose the speaker, I just don't know how many gay people he knows. Marjorie Taylor Greene said she voted against him in part because he voted for the "Democrat gay marriage bill." So you're out of step, you're out of line, Marjorie, if you've got a problem with gay marriage. I don't think during that time, President Obama or then-Vice President Biden were supportive of LGBT equality. I'm not surprised it tracks with where he is on gay marriage, it tracks with where he is on LGBT acceptance issues in society.

Persons: Mike Johnson's, We've, Charles Moran, —, Mike Johnson, Johnson, litigating, Moran, he's, Steve Scalise, Tom Emmer, …, Jim Jordan, I'm, Kat Cammack, Johnson's, litigate, He's, Marjorie Taylor Greene, Rick Allen, Emmer, Joe Biden, Marjorie, you've, I've, we've, Donald Trump's, Dylan Mulvaney, Bud Light, Obama, Biden, Hillary Clinton, It's, it's, Lawrence, Barack Obama, Eric Holder, That's, they're, haven't Organizations: Republican, Service, Republicans, Republican Conference, Representatives, Research, LGBT, Democrat, House Republican Conference, Senate, US Initiative, Trump, . Texas, Defense, Republican Party, Human, Education Law, HRC Locations: Roman, America, Louisiana, Georgia, ., Florida

☆ CNBC Daily Open: Trouble in AI paradise
▼ + stars: | 2023-11-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Nvidia earnings in focus After the flurry of inflation reports last week, this week looks comparatively quiet in terms of economic data releases. In other words, there will be other companies — like Anthropic or Google — more than ready to assume AI leadership. And Nvidia's report, out Tuesday, will in all probability reassure investors shaken by the cracks in the gilded world of generative AI.

Persons: Sam Altman, Michael Herzog, Musk, Stocks, Scott Ladner, OpenAI, Sam Altman's, Ilya, Zachary Lipton, Patrick Moorhead Organizations: APEC, Summit, Moscone West, CNBC, Hamas, Apple, Disney, IBM, Twitter, Media Matters, America, Dow Jones, Nasdaq, Dow, Horizon Investments, Carnegie Mellon University Locations: San Francisco , California, Israel, U.S

☆ Argentina election: Javier Milei and Sergio Massa compete in presidential run-off
▼ + stars: | 2023-11-19 | by ( David Shortell | Eva Rothenberg | ) edition.cnn.com time to read: +2 min

CNN —Polls are open in Argentina for a high-stakes presidential run-off vote pitting far-right libertarian Javier Milei against the country’s left-leaning economy minister Sergio Massa. Both candidates were greeted warmly by supporters as they arrived to cast their votes Sunday, video from Reuters showed. Milei, dressed in a leather jacket, walked through a uproarious crowd of cheering spectators in Buenos Aires, clasping hands, waving and signing autographs. Milei, of the Liberty Advances coalition, arrives to vote in Buenos Aires, Argentina, Sunday, Nov. 19, 2023. Massa gestures as he speaks on the day of Argentina's runoff presidential election, in Tigre, on the outskirts of Buenos Aires, on November 19.

Persons: Javier Milei, Sergio Massa, Massa, ”, Matias Delacroix, Milei’s, Mariana Nedelcu, Jair Bolsonaro, CNN’s Stefano Pozzebon Organizations: CNN, Reuters, Liberty Advances, Former Locations: Argentina, Buenos Aires, Tigre, Bogota

☆ Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans
▼ + stars: | 2023-11-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Alibaba has lost $26 billion in market cap since Thursday, after it shelved plans to spin off its cloud business. Executives said they needed to "reset" strategy, and pointed to US restrictions on chip sales to China. AdvertisementAlibaba walked back plans to spin off its $11 billion cloud business this week, sending shares of the Chinese tech giant lower for a second day on Friday. AdvertisementThe spin-off for its Cloud Intelligence Group had been planned as part of a widespread overhaul of the Alibaba empire. "We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement," the company said.

Persons: Alibaba, —, Joseph Tsai, Eddie Wu, Wu, Tsai, Biden, it's, Jack Ma Organizations: Service, Bloomberg, Biden Administration, Tencent Holdings, JD, Nvidia, Cloud Intelligence Group, Cloud Intelligence Locations: China

☆ An Exhibition of Orcs and Elves Has Rome Abuzz, and Bewildered
▼ + stars: | 2023-11-17 | by ( Jason Horowitz | ) www.nytimes.com time to read: +1 min

On the opening night of Rome’s most talked-about new exhibition this week, top government ministers in sharp suits hobnobbed with Roman socialites in fur coats, and eccentric art lovers rubbed shoulders with hard-right youth group members. They all contemplated a drawing of a glam-rock Gandalf in a form-fitting wizard’s cloak, acrylic armies of orcs and other works of fan art displayed in gilded frames. Some were enthusiastic, others bewildered. But if there was any question why Italy’s Culture Ministry had staged a major retrospective dedicated to the life, academic career, and literary works of J.R.R. “I found the exhibition very beautiful,” Giorgia Meloni, the prime minister, said after her personal tour of “Tolkien: Man, Professor, Author.” “As a person who knows the issue pretty well, I found many things I didn’t know.”

Persons: Frodo, Tolkien, “, ”, Giorgia Meloni Organizations: Ministry, National Gallery of Modern Locations: British

DUBAI, United Arab Emirates (AP) — Jon Rahm, Viktor Hovland and Tommy Fleetwood were among the marquee players moving into contention at the season-ending World Tour Championship on Friday. 2-ranked McIlroy was, in his words, “stuck in neutral” on his way to shooting an even-par 72 in the second round, Rahm, Hovland and Fleetwood all had 66s on the Earth Course to be in a good position heading into the weekend. A special year could yet include a winner's check of $3 million in Dubai, where he said he was playing “stress-free golf” after just one bogey on Friday sandwiched between seven birdies including four in his last seven holes. 10, birdied four of his first seven holes, then nearly holed his approach at No. “I was trying to make some birdies on the back nine to get something going,” he said, “and I couldn’t.”___

Persons: — Jon Rahm, Viktor Hovland, Tommy Fleetwood, Rory McIlroy wasn't, McIlroy, “, Rahm, Nicolai Hojgaard, Dane, Ryder, ” Hojgaard, birdies, —, Hojgaard, It’s, Hovland, I’m, ” Hovland, ” Rahm, ”, Nos Organizations: United Arab Emirates, Fleetwood, Ryder, PGA Locations: DUBAI, United Arab, Fleetwood, Dubai, Nos

LONDON (AP) — One year after Qatar hosted the men’s World Cup, the gas-rich emirate and soccer governing body FIFA were urged Thursday by human rights group Amnesty International to do more for migrant workers who were essential to prepare the tournament and still face labor abuses. FIFA, under a different leadership, is now embarked on a similar journey toward Saudi Arabia hosting the World Cup in 2034. “Qatar’s continued failure to properly enforce or strengthen its pre-World Cup labor reforms puts any potential legacy for workers in serious peril,” Amnesty said. A key point for activists and some FIFA member federations has been compensating the families of workers in Qatar who were injured or died. Weeks before the World Cup started, FIFA’s top lawyer had said it was open to helping create a compensation fund.

Persons: ”, Steve Cockburn, “ Qatar’s, “, Weeks, Michael Llamas Organizations: —, Qatar, FIFA, Amnesty, Progress, “ Qatar, United Nations, International Labor Organization, Labor, ” Amnesty, InBev, Budweiser, ” FIFA, “, ILO, Ministry of Labor Locations: Qatar, United States, Saudi Arabia, Gibraltar, “, Geneva

☆ Britain’s Top Court Nixes Plan to Send Migrants to Africa
▼ + stars: | 2023-11-15 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

The U.K. plan is part of a broader effort by Western countries to cope with a rise in migrants arriving at their borders. Photo: henry nicholls/Agence France-Presse/Getty ImagesLONDON—A U.K. plan to send some migrants who arrive illegally to live in Rwanda suffered a major setback after a top court said the central African country wasn’t a safe place to house asylum seekers. The ruling scuttles Prime Minister Rishi Sunak ’s marquee policy to curb migration and offers a warning shot to other European nations considering similar plans.

Persons: henry nicholls, Rishi Sunak Organizations: Agence France, scuttles Locations: U.K, Rwanda

☆ Dan Loeb's Third Point sold chip stocks last quarter. Here's where his money went instead
▼ + stars: | 2023-11-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Dan Loeb's Third Point hedge fund took profits on a handful of chip stocks in the third quarter, instead buying into other, marquee technology names, regulatory fillings show. While contending with these challenges in the third quarter, the billionaire fund manager sold of his holdings in the three chip stocks. Those gains have come amid the artificial intelligence boom that has driven up chip makers and other stocks tied to the technology. In the same vein, Loeb raised the size of his Microsoft stake by 46% in the third quarter. In addition to the chip makers, Leob also sold out his entire stakes in HCA Healthcare and Black Knight , among others.

Persons: Dan Loeb's, Loeb, Warburg Pincus, Leob, Black Knight Organizations: Devices, Micron Technology, Nvidia, Securities and Exchange, VanEck Semiconductor, Nasdaq, Meta, Microsoft, Xbox, Intercontinental Exchange, Jacobs Solutions, Warburg, Jefferies, Citigroup, Taiwan Semiconductor, DuPont de Nemours, Healthcare, Black Locations: New York, Meta, California

NEW YORK (AP) — Lawyers for Donald Trump asked for a mistrial Wednesday in the New York civil fraud case that threatens the former president’s real estate empire. Testifying last week, Trump assailed Engoron as an “extremely hostile” judge and the trial as “very unfair." Political Cartoons View All 1250 ImagesTrump’s lawyers compiled weeks of complaints into their 30-page court filing seeking a mistrial. Engoron mentioned the mistrial request only briefly in court Wednesday as defense lawyers continued calling witnesses. Before the trial, Engoron ruled that Trump and other defendants committed fraud by exaggerating his net worth and the value of assets on his financial statements.

Persons: Donald Trump, Judge Arthur Engoron, Engoron, Letitia James ’, Trump, ”, James, ” James, Donald Jr, Eric Trump, Engoron’s, Allison Greenfield, Greenfield, Christopher Kise, Jerry Goldfeder, Goldfeder, Jake Offenhartz, Michael Organizations: —, New York, Trump, Democrat, Breitbart, Democratic, Fordham Law, Democracy, Associated Locations: New York, Greenfield, Engoron, State, Manhattan, York, Michael Sisak, x.com

Rory McIlroy, the esteemed golfer who was among the most outspoken opponents of his sport’s swelling ties to Saudi Arabia, has resigned from the PGA Tour’s board. The tour confirmed his departure in a statement on Tuesday night. Mr. McIlroy, the men said, was “instrumental in helping shape the success of the tour, and his willingness to thoughtfully voice his opinions has been especially impactful.”Mr. McIlroy’s agent did not respond to a message seeking comment. The decision by Mr. McIlroy came about five months after the tour, following secret negotiations, struck an agreement with Saudi Arabia’s sovereign wealth fund to try to create a joint company that would end golf’s money-fueled war for supremacy. Most board members, including Mr. McIlroy, had no knowledge of the agreement or the talks that led to it until shortly before it was announced in June and upended the duel between the tour and LIV Golf, the league Saudi Arabia built with a blend of billions of dollars and marquee defections from the PGA Tour.

Persons: Rory McIlroy, “, Rory —, —, Jay Monahan, Edward D, Mr, McIlroy, ” Mr, LIV Golf Organizations: PGA, PGA Tour Locations: Saudi Arabia, Saudi

In preparing financial statements, also known as compilations, accountants need only documentation used to determine the value of assets, like Trump’s skyscrapers, golf courses and other properties. The firm cut ties with Trump last year and said his financial statements “should no longer be relied upon” after James raised concerns about their accuracy. James, a Democrat, alleges Trump, his company and top executives exaggerated his wealth by billions of dollars on the financial statements by inflating property values. On the stand Tuesday, Flemmons echoed Trump’s longstanding assertion that disclaimers on the financial statements insulated him from liability for discrepancies or misstatements. Trump has argued that, if anything, his financial statements undervalued how much his properties were worth.

Persons: — Donald Trump, Letitia James ’, Jason Flemmons, Donald Bender, Bender, he'd, —, “, Flemmons, James, Trump, Judge Arthur Engoron, “ It’s, ” Flemmons, Steven Witkoff, Trump’s, ” Engoron, Donald Trump Jr, Allen Weisselberg, ” Trump, Eric, Donald Trump, ”, Michael Organizations: USA, York, Trump Organization, U.S . Securities, Exchange Commission, Trump, Ankura Consulting, Mazars, Republican Locations: New York, Lago, Florida, Trump’s Doral , Florida, Michael Sisak, x.com

☆ Goldman Sachs wants to build the 'Pinterest for capital markets.' Here's how the bank is aiming to win more trades from its biggest institutional clients.
▼ + stars: | 2023-11-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

On Tuesday, the bank launched a customizable dashboard designed to help Goldman's institutional investor clients understand the state of financial markets. Currently, that's somewhat of a messy and manual process spread across several platforms, Chris Churchman, Goldman Sachs partner and head of Marquee, told Insider. Banks like Goldman Sachs benefit from more complex trades, like a complicated derivative with legs and hedges, that require more work. Goldman Sachs Marquee MarketView is accessible on desktop and mobile. "What clients have said to me is, you basically created Pinterest for capital markets, or you're creating a social network for capital markets," Churchman said.

Persons: Goldman Sachs, Chris Churchman, Goldman, Banks, Churchman, There's Organizations: Business, Bloomberg, Citadel Securities, Bank of Japan Locations: MarketView, FactSet

Their last meeting was at the Group of 20 summit in Indonesia last fall. The U.S. has consistently viewed military relations with China as critical to avoiding any missteps and to maintaining a peaceful Indo-Pacific region. Sullivan also said there were other areas where U.S. and Chinese interests overlap, particularly on the effort to combat fentanyl trafficking. The White House announced Monday that Biden would also meet with Mexican President Andrés Manuel López Obrador later this week. Associated Press Writers Janie Har in San Francisco and Lolita C. Baldor and Didi Tang in Washington contributed to this report.

Persons: Joe Biden, Xi Jinping, The, Biden, Xi, Jake Sullivan, ” Sullivan, “, Sullivan, Andrés Manuel López Obrador, Janet Yellen, ___ Madhani, Janie Har, Lolita C, Baldor, Didi Tang Organizations: WASHINGTON, —, Economic Cooperation, The Biden, Group, Biden, White House, U.S . Navy, Air Force, Disease Control, Drug Enforcement Administration, U.S, Democratic, White, Moscone Center, APEC, Finance, San Francisco Police Department, Union Square, Associated Press Locations: Asia, San Francisco, Indonesia, China, U.S, Pacific, Washington, Mexico, Iran, Taiwan, Beijing, Taipei, Taiwan Strait, Tehran, Israel, Union

☆ 1962 Ferrari Brings $51.7 Million at Sotheby’s
▼ + stars: | 2023-11-13 | by ( Julia Halperin | ) www.nytimes.com time to read: +1 min

A bright red Ferrari with a storied history sold for $51.7 million, with buyer’s fees, on Monday, becoming the most expensive automobile from that Italian carmaker ever sold at auction. RM Sotheby’s, the automobile seller in which Sotheby’s bought a controlling stake in 2022, offered the 1962 Ferrari 330 LM/250 GTO by Scaglietti with an unpublished estimate of $60 million. Two bidders drove the price to $47 million before auction-house fees. Sotheby’s promoted the car as a luxury object, offering it in a stand-alone sale during its marquee fall auctions of fine art in New York. There are only 36 Ferrari 250 GTOs in existence, produced between 1962 and 1964.

Persons: Sotheby’s, Oliver Barker —, Europe —, Jonas Wood, Ralph Lauren, Nick Mason, Pink Floyd Organizations: Ferrari Locations: New York, Europe

He said he never worked on the annual financial statements at the heart of New York Attorney General Letitia James’ lawsuit. James alleges Donald Trump, his company and executives including Eric and Donald Jr. exaggerated his wealth by billions of dollars on financial statements given to banks, insurers and others. On Monday, Trump Jr. will be questioned first by the defense lawyers representing him, his father and other defendants. When he became president in 2017, Donald Trump handed day-to-day management of his company to Eric and Donald Trump Jr. and named Trump Jr. as a trustee of a trust he established to hold his assets while in office. “I had an obligation to listen to the people with intimate knowledge of those things,” Trump Jr. testified.

Persons: —, Donald Trump’s, Donald Trump Jr, who’ll, quizzed, Eric, Ivanka Trump, Letitia James ’, James, Donald Trump, Donald Jr, Judge Arthur Engoron, Michael Cohen, Engoron, Christopher Kise, ”, “, I’m, Trump, ’, ” Trump, Allen Weisselberg, Michael Organizations: Trump Organization, York, Trump, Democrat, New York, Trump Jr, ” Trump Jr Locations: New York, New, Michael Sisak, x.com

☆ US Supreme Court seeks Biden administration view on US Soccer antitrust case
▼ + stars: | 2023-11-13 | by ( Mike Scarcella | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

The justices are considering whether to hear U.S. Soccer's appeal of a lower court's decision to allow the lawsuit by New York-based Relevent Sports to proceed. The lawsuit, filed in 2019 in Manhattan federal court against U.S. Soccer and FIFA, claimed the ban violated American antitrust law and sought to stop the two organizations from implementing it. U.S. Soccer is a member of FIFA, soccer's international governing body. The United States hosts "friendly" games involving foreign professional teams, but the games do not count in league standings. U.S. soccer has argued that it had no role as a FIFA member in forming the international organization's 2018 policy banning foreign clubs from holding competitive matches outside the teams' home countries.

Persons: Joe Biden's, Relevent's, Mike Scarcella, Will Dunham Organizations: U.S, Supreme, U.S . Soccer, FIFA, Soccer, soccer's, United States, Circuit, Appeals, Thomson Locations: United States, New York, Manhattan, U.S, York

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