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☆ Biden’s offshore wind target slipping out of reach as projects struggle
▼ + stars: | 2023-09-15 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. The energy research firm expects 21 GW of offshore wind along U.S. shores in 2030, breaking 30 GW by 2032. Still, offshore wind developers including Orsted have said the IRA’s subsidies are insufficient for projects to thrive in the current environment, and are lobbying the administration for additional concessions. The nation currently has just two pilot-scale offshore wind farms capable of producing 42 megawatts of electricity. Stephanie McClellan, executive director of the offshore wind advocacy group Turn Forward, said making sure the first fleet of projects succeeds was more important than a particular timeline.

Persons: Brian Snyder, Joe Biden’s, Biden, Kris Ohleth, It's, Samantha Woodworth, Wood Mackenzie, Michael Brown, France's, it's, Kelly Penot, Rousseau, Orsted, Michael Kikukawa, Samah Shaiq, Shaiq, Doreen Harris, NYSERDA, Elizabeth Mahony, Stephanie McClellan, Nichola Groom, David Gregorio Our Organizations: REUTERS, BP, Shell, Companies, Developers, Ocean Winds, Reuters, Biden, U.S . Department of Energy, DOE, New York State Energy Research, Development Authority, New York State Department of Public Service, Equinor, Orsted . Massachusetts Department of Energy, Office of Energy, Environmental Affairs, New, New Jersey Board of Public Utilities, Thomson Locations: Rhode, U.S, North American, Massachusetts, Gulf of Mexico, Europe, Asia, China, United Kingdom, New Jersey, New York, Orsted .

☆ Here's our second-quarter earnings report card for 34 stocks in the portfolio
▼ + stars: | 2023-09-06 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

Eli Lilly not only reported a stellar second quarter, management was able to raise its full-year sales and adjusted earnings outlook as well. Though revenues were a tad short, earnings results were better than expected on a both a HAAP and adjusted basis. Constellation Brands' (STZ) sales and earnings results outpaced expectations. DuPont (DD) reported a good quarter prior to us initiating a position in the name. But the slight comparable-sales miss in North America prompted questions about the company's ability to hit its long-term targets of 10% to 12% revenue growth and 15% to 20% earnings growth.

Persons: That's, Eli Lilly, Mounjaro, Morgan Stanley, Stanley Black, Decker, it's, Wells Fargo, Sartorius, Estee Lauder, We're, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Procter, Gamble, TJX, Federal Reserve, Club, Costco, Emerson Electric, Humana, Oracle, Alto Networks, billings, Companies, Wynn Resorts, WYNN, North, Broadcom, Constellation Brands, DuPont, Ford, GE Healthcare Technologies, Linde, LIN, Microsoft, Natural Resources, Procter & Gamble, —, Health, Coterra Energy, Disney, Starbucks, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Macau, North American, DuPont's, India, North America, Los Angeles , California

☆ The Fed’s Preferred Inflation Gauge Ticked Up in July
▼ + stars: | 2023-08-31 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +2 min

An employment report set for release on Friday is expected to show that while businesses added fewer jobs in August, the unemployment rate remained very low at 3.5 percent. Even after adjusting for inflation, it was up 0.6 percent, a pop from 0.4 percent in the previous report. inflation was widely expected: Various data points that feed into the number, including the Consumer Price Index inflation report, come out earlier in the month. Fed officials will be watching data over the next few weeks as they consider what to do with interest rates at their meeting on Sept. 20. Policymakers have said that the meeting is a “live” one, meaning that they could either lift interest rates or keep them on hold, but several have suggested that at this point they feel that they can be patient in making a move.

Persons: ” Jerome H, Powell

☆ Russia sees biggest drone assault on its own territory since invading Ukraine, as Kyiv strikes back through the skies
▼ + stars: | 2023-08-30 | by ( Rob Picheta Anna Chernova Olga Voitovych | Rob Picheta | Anna Chernova | ) edition.cnn.com time to read: +4 min

“Kyiv has not experienced such a powerful attack since spring,” Serhii Popko, the head of the city’s Military Administration, said on Telegram. The governor of Bryansk, which borders Ukraine, said air defenses thwarted a Ukrainian drone attack on a television tower early on Wednesday. Russian state news agency TASS reported that “as a result of drone attacks four Il-76 aircraft were damaged,” in Pskov. Ukraine stepped up its evacuations of children from the frontline town of Kupiansk on Tuesday, as Russian forces continued to bear down on the battered city. The Ukrainian military says that its forces have made further progress in a part of the southern front, towards the villages of Novodanylivka and Verbove.

Persons: haven’t, Serhii Popko, Popko, Valerii Zaluzhnyi, Aleksandr Bogomaz, Mikhail Vedernikov Organizations: CNN, “ Kyiv, Administration, Kyiv “, Kyiv City Military Administration, Emergency Service of, Reuters, Ukraine’s Armed Forces, Federal Air Transport Agency, TASS Locations: Russia, Ukraine, Moscow, Kyiv, Pskov, Estonian, Emergency Service of Ukraine, Moscow Ukraine, Bryansk, Ukrainian, Klimovo, Russia’s, ”, Kupiansk, Novodanylivka

☆ Here are the 8 trades and 3 price-target changes we made during a busy week
▼ + stars: | 2023-08-25 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

Monday Monday proved to be a harbinger for the rest of the week, beginning with purchases of GE Healthcare (GEHC) and Stanley Black & Decker (SWK). GE Healthcare and Stanley Black & Decker appeared especially attractive, leading us to buy 100 shares and 150 shares, respectively. For GEHC, we wanted to take advantage of what we believe was an unwarranted decline in the medical technology company's stock price. Our purchase of Starbucks represents another buying-into-post-earnings-weakness situation, as we did with Microsoft and Stanley Black & Decker earlier in the week. That's why on Thursday we took our Nvidia price target to $600 per share from $450, implying roughly 27% upside.

Persons: Jerome Powell's Jackson, Here's, Stanley Black, Decker, SWK, Nikesh Arora, Jim Cramer, that's, Locker, Locker's, —, Jim Cramer's, Jim, Angela Weiss Organizations: Federal, GE Healthcare, Microsoft, Palo Alto Networks, Big Tech, Amazon, Starbucks, Broadcom, Devices, Nvidia, Charitable, AMD, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Danaher, New York City

☆ Wall Street gets more bullish on Nvidia (again). Where Jim Cramer stands going into earnings
▼ + stars: | 2023-08-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Besides Apple (AAPL), Nvidia is the only other Club stock to get Jim's "own it, don't trade it" designation. There's no doubt technology giants in the world's second-largest economy want Nvidia's chips to build out their AI systems. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, I'm, Baird, KeyBanc, Piper Sandler, FactSet, Wei, Biden, Colette Kress, Jim Cramer's, Jim, Hsun Huang, Patrick T Organizations: Nvidia, Apple, HSBC, Barclays, Microsoft, Taiwan Semiconductor Manufacturing Company, Financial, Citigroup, Wall Street Journal, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Washington, U.S, Los Angeles , California

☆ Missiles aren't the only threat from North Korea. Its conventional arms are just as deadly
▼ + stars: | 2023-08-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

A fire assault drill by North Korean rocket artillery units at an undisclosed location in North Korea in March 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). In late 2022, CFR estimated North Korea had 1.3 million active military personnel, in addition to a 600,000 strong reserve force. Pinkston pointed out that North Korea is not the only one that can launch an attack at short notice. Holistic perspectiveWhy would North Korea need to develop missiles if it holds such a potent threat over South Korea — even if short-lived? However, Cha pointed out that there have also been studies that have shown the damage inflicted by North Korean artillery is "not that effective."

Persons: that's, Naoko Aoki, Victor Cha, Rand, Daniel Pinkston, Pinkston, Cha Organizations: North Korean, North, Korean Central News Agency, Reuters, Korea's, Rand Corporation ., of Foreign Relations, CFR, Korean, Artillery, Center for Strategic, International Studies, Rand Corp, Samsung Electronics, Rand, . Rand Corporation, LG, South Korean, Troy University, CNBC, Korea People's Army, CSIS Locations: North Korea, Korean, Korea, South Korea, Seoul, Pyongyang, U.S, Paju, counterfire, Washington, United States, Victor, Victor Cha Korea

☆ Jakarta is the world's most polluted city. And Indonesia's leader has the cough to prove it
▼ + stars: | 2023-08-16 | by ( Heather Chen | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Indonesia’s capital Jakarta is the world’s most polluted city, according to a new study, and the country’s president may have the cough to prove it. Uno said doctors were still diagnosing the cause of Widodo’s cough but added that it might be related to the worsening air quality, reported CNN affiliate CNN Indonesia. But in recent weeks air quality in the capital has become particularly bad, deteriorating to the worst in the world, according to data provided by IQAir, a Swiss air quality technology company. On August 9, Jakarta topped its list of polluted cities after registering “unhealthy” air pollution levels nearly every day, the company said. “Air pollution is a serious problem in Southeast Asia,” said political analyst Bridget Welsh from the University of Nottingham.

Persons: Joko Widodo, IQAir, ”, Sandiaga Uno, Uno, Budi Gunadi Sadikin, ” Budi, Widodo, ” Widodo, Bridget Welsh Organizations: Hong Kong CNN —, Tourism, Creative, Sandiaga, CNN, CNN Indonesia, Central, IQAir, Skyscrapers, Getty, University of Nottingham, “ Locations: Hong Kong, Jakarta, Swiss, AFP, Greater Jakarta, Central Jakarta, Greater Jakarta Area, Jakarta –, Southeast Asia, Nusantara, East Kalimantan, Borneo

☆ Hackers could now steal passwords over Zoom by listening to keystrokes using AI — and they'll be right 93% of the time, study says
▼ + stars: | 2023-08-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

AI can steal passwords from keystroke sounds recorded over Zoom with up to 93% accuracy, per a new study. The accuracy rate ratcheted up to 95% when keystrokes were recorded using an iPhone 13 mini. Moreover, the accuracy rate rose to 95% when keystrokes were recorded using an iPhone 13 mini. Touch typing and adding background noise also seemed to lower the accuracy rate of the AI tool. AI tools can make online scams harder to detect because AI makes it easier to personalize scams for each target, Insider reported last Tuesday.

Organizations: Durham University, University of Surrey, Royal Holloway University of London, NSA

MOSCOW, Aug 15 (Reuters) - Russia on Tuesday released video footage showing an armed naval inspection unit boarding a cargo ship in the southwestern Black Sea on Sunday and questioning the captain about why the ship had not stopped when demanded to by a Russian warship. "Stop machine, stop machine," one of the armed Russians says as crew members put their hands on their heads and kneel before the Russian weapons. I am Russian naval officer - please don't shoot my group on video." The Russian officer then questions the captain through a crew translator about why the ship did not stop when asked to. "Thank you, you good day sir," the Russian officer says as he leaves.

Persons: Guy Faulconbridge, Robert Birsel Organizations: Reuters, Thomson Locations: MOSCOW, Russia, Black, Russian, Palau, Turkey, Ukraine, Izmail

☆ Roaring Back From Pandemic, Japan’s Economy Grows by 6 Percent
▼ + stars: | 2023-08-14 | by ( Ben Dooley | More About Ben Dooley | ) www.nytimes.com time to read: +3 min

Why It MattersJapan is the world’s third-largest economy, and the largest creditor by far. Covid didn’t hit Japan’s economy as hard as it did other countries. The anemic yen has been a double-edged sword for the economy, said Takahide Kiuchi, an economist at the Nomura Research Institute. “However, it could undermine consumption.”BackgroundJapan’s has long suffered from sluggish economic growth. Recent softness in China, Japan’s largest trade partner, is a particular source of worry.

Persons: didn’t, Takahide Kiuchi, ”, Japan’s, Izumi Devalier, Ms, Devalier, ” Mr, Kiuchi Organizations: Nomura Research Institute, Bank of Japan, Bank of America Locations: Japan, United States, China, Europe

☆ China chipmaker Hua Hong posts modest gains in Shanghai debut
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 7 (Reuters) - Hua Hong Semiconductor, China's second-largest chip foundry, posted modest gains in its Shanghai debut on Monday, reflecting a weak market sentiment and investor caution amid mounting Sino-U.S. chip rivalry. Hua Hong shares opened 13% higher on Shanghai's tech-focused STAR Market, but quickly faltered. The Shanghai Composite Index (.SSEC) was down 0.6%, while Hua Hong's Hong Kong-listed shares declined more than 7%. Randall said the money raised by Hua Hong is not huge in a capital-intensive industry, but shows chipmakers are broadening fundraising channels in addition to government backing. Hua Hong will use most of the proceeds to boost capacity at a facility in Wuxi, in eastern Jiangsu province, according to the company's prospectus.

Persons: Hua, Hua Hong, Joe Biden's, Stewart Randall, Randall, Li Gu, Brenda Goh, Mo Yelin, Muralikumar Anantharaman, Himani Organizations: Hua Hong Semiconductor, Hua Hong, Trump, Washington, Thomson Locations: SHANGHAI, Shanghai, U.S, Hong Kong, Beijing, Washington . U.S, China, Wuxi, Jiangsu

Battles raged in southern Ukraine on Thursday, as Kyiv’s stepped-up offensive against the Russian occupation made small gains, according to Russian, Ukrainian and Western analysts and officials, but the scope of the assaults and their toll remained unclear. A day after U.S. officials said the main thrust of Ukraine’s counteroffensive appeared to have begun, President Vladimir V. Putin of Russia said, “We confirm that hostilities have intensified and in a significant way.”But there was minimal, and sometimes contradictory, information about how many troops and armored vehicles Ukraine had committed so far to its attempt to punch holes through Russia’s daunting defensive network. Crucially, it was also unclear what kind of losses either side was suffering, in soldiers and weaponry. What is clear is that Ukraine has significantly ratcheted up its seven-week-old counteroffensive, along two southward thrusts apparently aimed at cities in the Zaporizhzhia region: Melitopol, near the Sea of Azov, and Berdiansk, to the east, on the Azov coast. In both cases, the Ukrainians have advanced only a few miles so far and have dozens of miles to go.

Persons: Kyiv’s, Vladimir V, Putin, “ Locations: Ukraine, Russia, Azov

☆ Here’s What to Watch at the Fed’s July Meeting
▼ + stars: | 2023-07-26 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Fed officials will release their decision at 2 p.m., after which Jerome H. Powell, the Fed chair, will hold a news conference. Policymakers are expected to raise rates to a range of 5.25 to 5.5 percent this week, their 11th move since they began to lift borrowing costs in March 2022. Officials ratcheted rates higher rapidly last year but have been slowing their campaign for months, even skipping an adjustment in June after 10 consecutive moves. Fed officials will have plenty of time, and plenty of data to parse, before they release their next rate decision and a fresh set of quarterly economic projections on Sept. 20. Still, investors and Fed watchers in general will be monitoring a few key developments on Wednesday.

Persons: Jerome H, Powell Organizations: Federal Reserve

☆ Trump calls Biden 'a corrupt, horrible' man
▼ + stars: | 2023-07-16 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsTrump calls Biden 'a corrupt, horrible' manPostedFormer President Donald Trump ratcheted up his rhetoric against President Joe Biden in a speech Saturday (July 15) to a conservative non-profit group, saying he felt emboldened to do so after he was indicted for his retaining and handling of sensitive documents at his Mar-a-Lago home in Florida.

Persons: Trump, Biden, Donald Trump ratcheted, Joe Biden Locations: Florida

☆ Fed Watchers to Parse June Jobs Report Closely
▼ + stars: | 2023-07-07 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve policymakers are debating how much further they need to raise interest rates to ensure that inflation speedily returns to a normal pace, and that calculus is likely to depend heavily on the job market’s strength. Officials will closely watch the employment report on Friday, the last reading on job growth that they will receive before their July 25-26 meeting, for a hint at how much momentum remains in the American economy. Fed officials have been surprised by the economy’s staying power 16 months into their push to slow it down by raising interest rates, which makes borrowing money more expensive. Fed officials worry that if wage growth remains unusually rapid, it could make it difficult to bring elevated inflation fully back to their 2 percent goal. But several policymakers have been clear that even as the pace moderates, they still expect to raise interest rates further.

Locations: American

Friday’s fresh labor market data probably offered little to dissuade them from raising interest rates at their meeting later this month. The June data is the last payrolls report officials will receive before the central bank’s July 25-26 meeting. It underscored many of the labor market themes that have been present for months: While job growth is gradually slowing, wage growth remains abnormally quick and the unemployment rate is very low at 3.6 percent. Investors widely expect the Fed to raise rates at their July meeting, and Friday’s data only reinforced that prediction. But several policymakers have been clear that even as the pace moderates, they still expect to raise interest rates further.

Persons: ” Lorie K, Logan, ” Organizations: Fed, Federal Reserve Bank of Dallas, ” Fed

☆ Mark Zuckerberg just launched the Twitter killer Threads app and wants to get '1 billion+ people on it'
▼ + stars: | 2023-07-06 | by ( Huileng Tan | Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Over 5 million users signed up for Threads in the first four hours of its launch, per Meta CEO Mark Zuckerberg. Meta CEO Mark Zuckerberg ratcheted his rivalry with Twitter owner Elon Musk as Meta rolled out its Threads app to users in 100 countries on Wednesday. Over five million users signed up for the app in the first four hours of its launch, Zuckerberg posted on Threads. The app somewhat resembles Twitter, leading Zuckerberg to post his first tweet in a decade — the famed Spider-Man pointing at Spider-Man meme. To be sure, Meta's Threads isn't the only game in town trying to the Twitter Killer.

Persons: —, Mark Zuckerberg, Elon Musk, Zuckerberg, hasn't, Meta, Instagram, Billy Duberstein, Jack Dorsey —, Donald Trump's, Matthew Loh, Duberstein, Insider's Sydney Bradley, Amanda Perelli Organizations: Twitter, European Union, Bloomberg, Meta, Stone Oak Capital

☆ This luxury boat shed just sold for $1.25 million — even though it has no bathroom or bedroom. See inside.
▼ + stars: | 2023-07-04 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

A converted boat shed in New Zealand just sold for a record $1.25 million. The dinky-yet-colossally-expensive property has a catch — you can't use the bathroom or sleep there. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA 700-square-foot converted boat shed in New Zealand sold for a record $1.25 million late last month. Despite this, the tiny historical property at Whakatakataka Bay, Ōrākei, ratcheted up the highest price ever paid in New Zealand — that's just over $2 million in local dollars — for a boat shed, the Herald on Sunday reported. Scroll down to see what a $1.25 million luxury boat shed looks like inside and out.

Persons: — Organizations: Service, that's, Herald Locations: New Zealand, Whakatakataka, Ōrākei

☆ Ukraine Says It Is Ready for Arrival of Wagner Troops in Belarus
▼ + stars: | 2023-07-01 | by ( Megan Specia | ) www.nytimes.com time to read: +1 min

As Belarus has ratcheted up its messaging about plans to offer refuge — and possibly work — to Wagner group mercenaries after a failed rebellion in Russia, Ukrainian forces say they are ready for any potential threat from their neighbor to the north. In recent days, Ukrainian officials have tried to tamp down concerns while heralding their preparations, with President Volodymyr Zelensky nodding to plans for reinforcing the border in his overnight address into Saturday and top commanders emphasizing that no current threat had been found. Mr. Zelensky indicated that Ukrainian intelligence was monitoring the situation closely, adding, “We very carefully analyze every fact and any prospects in all directions.” Ukraine’s top generals were “instructed to strengthen the northern direction — to guarantee peace,” he said. This week, Aleksandr G. Lukashenko, the Kremlin-aligned autocratic leader of Belarus, invited members of the Wagner group who had participated in a rebellion against Russian forces to relocate to an “abandoned” military base in his country. New satellite imagery from Thursday and Friday, analyzed by The New York Times, shows that more than 250 tents, enough to house thousands of troops, have been erected in the past five days at an unused base.

Persons: —, Wagner, Volodymyr Zelensky, Zelensky, Ukraine’s, “, ”, Aleksandr G, Lukashenko Organizations: The New York Times Locations: Belarus, Russia, Ukrainian

☆ US targets China over semiconductors
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

The case initially started as a dispute between Micron Technology (MU.O) and the Chinese firm. Trump's move escalated it into the realm of an international trade conflict between the United States and China. January 2020: Reuters reported that the Trump administration had since 2018 had mounted an extensive campaign to block the sale of Dutch chip manufacturing technology to China. May 2020: The Trump administration blocks shipments of semiconductors to China's Huawei Technologies from global chipmakers, crippling its HiSilicon chip and smartphone divisions. December 2022: The U.S. adds Chinese memory chip maker YMTC and dozens of other Chinese firms to its trade blacklist.

Persons: Florence Lo, Joe Biden's, Donald Trump's, Trump's, Trump, Biden, Brenda Goh, Jamie Freed Organizations: REUTERS, Trump, Washington, Reuters, Former U.S, U.S . Justice Department, Micron Technology, Huawei Technologies, HK, Nvidia, Micron Devices, Thomson Locations: China, U.S, Netherlands, Former, Fujian, United States, ASML, Shanghai

☆ Wall St. Foresees a Rosy 6 Months. Corporate America Isn’t So Sure.
▼ + stars: | 2023-06-30 | by ( Joe Rennison | J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Stubbornly high inflation, a debt ceiling brawl, a brief banking crisis and the prospect of even higher interest rates: The past six months brought much to unsettle even the most optimistic investor. Investors have welcomed data showing that the economy remains on more solid footing than was expected at the start of the year. Inflation is easing, albeit more slowly than forecast, and policymakers have signaled that they expect interest rates will soon reach their peak. The more time that has passed without investors’ worst fears being realized, the more optimistic they have become. “We anticipated more damage,” said Kristina Hooper, chief global market strategist at the fund manager Invesco.

Persons: “, ”, Kristina Hooper, Invesco Organizations: Federal Reserve

The central bank on Wednesday will release the results of its bank "stress tests" which assess how much capital banks would need to withstand a severe economic downturn. The annual exercise, introduced following the 2007-2009 financial crisis, is integral to banks' capital planning, dictating how much cash they can return to shareholders via dividends and share buybacks. Despite the turmoil, and the exam being the hardest in years, bank analysts and executives expect the 23 lenders being tested will show capital in excess of regulatory minimums. While that will not affect capital, it will be used to assess potentially employing multiple scenarios in future stress test exercises. "In an environment of ever-changing risks, stress tests can quickly lose their relevance if their assumptions and scenarios remain static," said Barr in December.

Persons: Nick Zieminski WASHINGTON, JPMorgan Chase, Goldman, Morgan Stanley, jitters, Wells, Jefferies, Randal Quarles, Michael Barr, Barr, Pete Schroeder, Michelle Price, Deepa Babington Organizations: Citibank, REUTERS, Big U.S, Bank, U.S, Treasury, Citigroup Inc, Bank of America, JPMorgan, Goldman Sachs, Capital, U.S . Bancorp, Citizens, Fed, Bank Policy Institute, RBC, Thomson Locations: Jackson, Queens, New York City, U.S, Big, Silicon, Wells Fargo, Washington

☆ Calpers Scrutinizes Blackstone Portfolio Practices Over Child Labor Fine
▼ + stars: | 2023-06-22 | by ( Rod James | ) www.wsj.com time to read: 1 min

California Public Employees’ Retirement System ratcheted up its scrutiny of private-equity manager Blackstone in the wake of a child labor scandal at a company the firm owns. During a Tuesday investment committee meeting, Anton Orlich, managing investment director for private equity, said Calpers had demanded that representatives of Blackstone come to the pension’s Sacramento headquarters to discuss how the breach at Packers Sanitation Services happened.

Persons: Blackstone, Anton Orlich, Calpers Organizations: California Public, Packers Sanitation Services Locations: California, Sacramento

But beneath those positive signals, the two-day visit to Beijing from US Secretary of State Antony Blinken highlighted another reality: a wide and dangerous gulf between the two powers. The timing of the visit, which followed two close encounters between Chinese and American armed forces in Asia in recent weeks, underscored the urgency of talking. In the same vein, the United States needs to respect China and must not hurt China’s legitimate rights and interests,” he said. We don’t want to look up to the United States, at the very least we should look at each other at eye level,” he said. Baby stepsIn the lead-up to and during Blinken’s visit, China made clear who it thinks is responsible for the problems in the relationship.

Persons: Antony Blinken, –, Xi Jinping, Blinken, Xi, ”, “, Bonnie Glaser, China …, Nancy Pelosi’s, Yang Tao, ” Yang, Li Shangfu, Shen Dingli, Wang Yi, Joe Biden, ” Blinken, Dexter, Roberts Organizations: Hong Kong CNN, Washington, China, China’s Communist Party, German Marshall Fund of, United, Pacific, Military, US, Chinese Defense, Minister of Defense, Beijing, Economic Cooperation, Atlantic Council Locations: Hong Kong, China, Beijing, Asia, ”, United States, Washington, Taiwan, American, South China, America, Shanghai, “ China, Bali, “

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