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☆ 26North founder Josh Harris on the state of markets amid the 2024 election cycle
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email26North founder Josh Harris on the state of markets amid the 2024 election cycleJosh Harris paid a record $6.05 billion to add the NFL's Washington Commanders to his firm's sports portfolio, which already included the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and Crystal Palace of the English Premier League. The deal brought hope to one of the NFL's most storied teams and tortured fan bases. They hope Harris' track record in sports and as a successful hedge fund manager will put a winning team on the field and make the price Harris paid look like a real bargain. He joins CNBC's Andrew Ross Sorkin from the 2024 CEO Council Summit in Washington D.C. to discuss the state of markets ahead of the upcoming U.S. elections, his investing philosophy at 26North and much more.

Persons: Josh Harris, Harris, Andrew Ross Sorkin Organizations: NBA's Philadelphia 76ers, New Jersey Devils, English Premier League, Summit Locations: Washington

☆ 26North founder Josh Harris on the power of hiring great people
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email26North founder Josh Harris on the power of hiring great peopleJosh Harris paid a record $6.05 billion to add the NFL's Washington Commanders to his firm's sports portfolio, which already included the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and Crystal Palace of the English Premier League. The deal brought hope to one of the NFL's most storied teams and tortured fan bases. They hope Harris' track record in sports and as a successful hedge fund manager will put a winning team on the field and make the price Harris paid look like a real bargain. He joins CNBC's Andrew Ross Sorkin from the 2024 CEO Council Summit in Washington D.C. to discuss his leadership style and much more.

Persons: Josh Harris, Harris, Andrew Ross Sorkin Organizations: NBA's Philadelphia 76ers, New Jersey Devils, English Premier League, Summit Locations: Washington

☆ Fed meeting and inflation report both hit Wednesday, and the impact could be huge
▼ + stars: | 2024-06-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. None of those numbers are dramatically different from the April readings, and still show inflation running well above the Fed's 2% target. Central bankers prefer the Commerce Department's measure of personal consumption expenditures prices, a broader measure that also accounts for changes in consumer behavior. The Bureau of Labor Statistics is scheduled to release the CPI report at 8:30 a.m. The Fed meeting

Persons: Jerome Powell, Celal Gunes, Jonathan Pingle, Pingle, tinker, Jack Janasiewicz, —, Janasiewicz Organizations: U.S . Federal Reserve, of Research, Statistics, Governors, Federal, System, Washington D.C, Getty, Anadolu, Federal Reserve, UBS, CPI, Investment, Labor Statistics Locations: Washington, United States, Anadolu

☆ Endangered Republicans gamble backing Trump after guilty verdict as vulnerable Democrats remain cautious
▼ + stars: | 2024-06-09 | by ( Manu Raju | Annie Grayer | ) edition.cnn.com time to read: +10 min

CNN —Former President Donald Trump lost Rep. Mike Garcia’s district by more than 12 points four years ago. I’m the Republican,” said Rep. Lori Chavez-DeRemer, whose Oregon district Biden won by eight points in 2020, confirming she’s sticking with Trump after his conviction. Rep. Mike Lawler, whose New York district Biden carried by 10 points, sharply criticized the prosecution against Trump. Republicans in this camp believe there is no limit to how hard they can lean in to talking about Trump’s conviction and see the Trump verdict as a golden ticket. GOP Rep. Ralph Norman, a Republican hardliner from South Carolina, said Republicans would “absolutely” retaliate against Trump’s political enemies after November, including prosecutors.

Persons: Donald Trump’s, Manu Raju ”, Donald Trump, Mike Garcia’s, ” Garcia, Joe Biden, There’s, Biden, ”, John Duarte, Trump, “, Richard Hudson, ” Hudson, Suzan, ” George Whitesides, Garcia, Mike Garcia, ” Whitesides, “ Joe Biden who’s, “ who’s, I’m, Lori Chavez, DeRemer, Mike Lawler, ” Lawler, Celal, Bernie Moreno, Tim Sheehy, Sherrod Brown, Jon Tester, Sheehy, Tester, ” Tester, ” Brown, I’ve, Brown, Sen, Bob Casey, Stephanie Bice, Anna Moneymaker, Nick LaLota, Attorney Alvin Bragg, ” LaLota, Republican Sen, Thom Tillis, Mitch McConnell, ” Tillis, Mike Johnson, Jim Jordan, Johnson, – Jordan, Chip Roy, ” Roy, Marjorie Taylor Greene, ” Greene, Ralph Norman, ” Norman, Tesfaldet, Morgan Rimmer Organizations: CNN, California Republican, Trump, “, Republicans, Democrats, Biden, GOP, North Carolina Republican, ”, Democratic, of, Republican, Washington DC, Getty, New York, Manhattan, Attorney, Department of Justice, DOJ, Republican Party Locations: California, York, Washington, of California, Oregon, New York, Anadolu, Ohio, Montana, Pennsylvania, Washington , DC, New, Hill, South Carolina

☆ Centrist member of Israel’s war cabinet resigns over lack of plan for postwar Gaza
▼ + stars: | 2024-06-09 | by ( ) www.cnbc.com time to read: 1 min

Israeli war cabinet member Benny Gantz arrives at the US State Department ahead of a meeting with US Secretary of State Antony Blinken on March 5, 2024 in Washington DC. Benny Gantz, a centrist member of Israel's three-man war Cabinet, announced his resignation on Sunday. The move does not immediately pose a threat to Prime Minister Benjamin Netanyahu, who still controls a majority coalition in parliament. Gantz, a popular former military chief, joined Netanyahu's government shortly after the Oct. 7 Hamas attack in a show of unity. Gantz had previously said he would leave the government by June 8 if Netanyahu did not formulate a new plan for postwar Gaza.

Persons: Benny Gantz, Antony Blinken, Benjamin Netanyahu, Gantz, Netanyahu Organizations: US State Department, Washington DC, U.S Locations: Washington, Gaza

☆ Steve Bannon has to actually go to prison by July 1, Trump-appointed judge says
▼ + stars: | 2024-06-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Steve Bannon must start serving his four-month prison sentence by July 1, a judge ruled. Bannon was convicted in 2022 of contempt of Congress for defying a January 6 Committee subpoena. Bannon plans to appeal to the Supreme Court, claiming the Justice Department cannot silence him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSteve Bannon, a staunch ally of former President Donald Trump, must start serving his four-month prison sentence by July 1, a district judge in Washington DC has ruled.

Persons: Steve Bannon, Bannon, —, Donald Trump Organizations: Service, Washington DC, Trump, Business Locations: Washington

☆ This skinny house is so narrow that some people can touch both walls at once — and its price just fell again. See inside.
▼ + stars: | 2024-06-07 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +1 min

A Washington DC developer was forced to build a skinny home — six feet wide at its narrowest point. Zoning laws made it hard to build any bigger on the 0.02-acre property, the listing agent said. The narrow home listed for $799,900 in July 2023, but the price just dropped further to $570,265. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: —, Jennifer Young, Keller Williams, Nady Samnang Organizations: Washington DC, Service, Keller Williams Chantilly Ventures, Business Locations: Washington ,

A federal judge on Thursday told Stephen K. Bannon, a longtime adviser to former President Donald J. Trump, to surrender by July 1 to start serving a four-month prison term imposed on him for disobeying a subpoena to give testimony to the House committee that investigated the Jan. 6, 2021, attack on the Capitol. After Mr. Bannon was sentenced in October 2022 on contempt of Congress charges, Judge Carl J. Nichols, who has overseen the case, allowed him to remain free while he appealed. Lawyers for Mr. Bannon have promised to ask the full appeals court to reconsider the panel’s ruling. Judge Nichols said that Mr. Bannon would have to start serving his sentence in less than four weeks unless the full appeals court takes the case and issues its own ruling to pause the sentence from being enforced. Another former aide to Mr. Trump is already serving a prison term for refusing to take part in the House committee’s wide-ranging investigation into Mr. Trump’s efforts to remain in power after losing the 2020 election.

Persons: Stephen K, Bannon, Donald J, Trump, Carl J, Nichols, Judge Nichols Organizations: Capitol, Lawyers Locations: Washington

☆ Watch: Video shows storm conditions in Washington DC suburbs
▼ + stars: | 2024-06-05 | by ( Jon Sarlin | ) edition.cnn.com time to read: 1 min

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Saeed Abiyar, an adviser to Iran’s Islamic Revolutionary Guards Corps (IRGC) in Syria, died in the attack, Iran’s semi-official Tasnim news agency reported. Israel fired back, a US official told CNN, targeting a major Iranian military airbase near the city of Isfahan. Iran has deployed military advisers to Syria in support of Syrian President Bashar al-Assad since civil war broke out there in 2011. “The era of strategic patience is over,” said Mohammad Jamshidi, deputy chief of staff to the Iranian president. Israel contested this, claiming the target was an Iranian military headquarters.

Persons: Saeed Abiyar, SANA, Israel, Bashar al, Assad, ”, Mohammad Jamshidi, Monday’s, Trita, Ebrahim Raisi, Hossein Amir, “, ” Parsi, Joe Biden, Parsi Organizations: CNN, Islamic Revolutionary Guards Corps, Israel, Israel Defense Forces, Islamic, Washington DC, Quincy Institute, Foreign Locations: Syrian, Aleppo, Israel, Iran, Syria, Damascus, Lebanon, Isfahan, Gaza, Washington, Iranian, Tehran

☆ Bitcoin billionaire Michael Saylor settles DC tax fraud case for $40 million
▼ + stars: | 2024-06-03 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Billionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy , will pay $40 million to settle a tax fraud lawsuit brought by the Washington D.C. Attorney General, the AG's office announced Monday. The D.C. attorney general charged both Saylor and MicroStrategy with tax evasion, claiming that the company helped its founder disguise his D.C. residency so that he could avoid paying higher income taxes. MicroStrategy also allegedly failed to pay the corporate taxes required for a company employing D.C. residents, of which Saylor was only one of several. The original suit against Saylor was brought in 2022 by former D.C. attorney general Karl Racine. From 2006 to 2008, Saylor bought three luxury D.C. condos that he later renovated into a single complex that he called the "Trigate."

Persons: Michael Saylor, Saylor, Brian Schwalb, MicroStrategy, Karl Racine, Adams Morgan, James, Tony Stark Organizations: Washington D.C, Nasdaq, Forbes, District of Columbia Locations: District, Columbia, Florida, Virginia, Washington, Georgetown, Potomac, Saylor, Georgetown's, Adams

☆ Retired U.S. Navy admiral charged in bribery scheme with tech CEOs for $500,000 salary
▼ + stars: | 2024-06-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

A retired four-star U.S. Navy admiral, who was once the military branch's second-highest-ranking officer, was arrested on Friday for a bribery scheme with two tech CEOs, the Department of Justice announced. In 2021, Burke allegedly told his staff to award Kim and Messenger a $355,000 military contract. In exchange, Kim and Messenger allegedly promised Burke employment at their company in the future. According to Parlatore, Burke only worked at Next Jump for a couple of months and left the organization in part due to "personality conflicts." Though the Fat Leonard scheme is not directly connected to Burke's case, Parlatore side-eyed the DOJ's timing in bringing Burke's bribery charges.

Persons: Robert Burke, Charlie, Kim, Meghan Messenger, Burke, Messenger, Admiral Burke, Timothy Parlatore, Parlatore, Leonard Francis, Leonard, Francis Organizations: U.S, Navy, Department of Justice, New, DOJ, CNBC, Messenger Locations: Coconut, Fla, New York, Washington, U.S, Kobe

☆ More Americans will be able to file their taxes for free through the IRS next year
▼ + stars: | 2024-05-31 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

"The Treasury Department and IRS look forward to working with states to expand Direct File for Americans across the country," Treasury Secretary Janet Yellen said in a statement. More than 140,000 taxpayers used the free filing option, the IRS reports, exceeding the agency's expectations for the pilot program. Beyond increasing access to the Direct File program to all states, the IRS is working on other ways to broaden eligibility. The IRS also announced it would extend its Free File program through 2029. "Free File was part of a successful filing season at the IRS that saw increased interest in a range of free programs to help taxpayers."

Persons: Janet Yellen, Danny Werfel Organizations: Internal Revenue Service, . Treasury, Washington D.C, Treasury Department, IRS, Treasury, Biden, CNBC Locations: Washington, filers

☆ A DC basic income program is letting people choose the amount on their checks. A participant said $1,400 a month is what she needs to pay medical bills.
▼ + stars: | 2024-05-31 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

And since last fall, she's been a participant in a Washington DC-area guaranteed basic income program. With her husband's SSDI disability benefit, the couple lives on a fixed income of under $2,000 each month, which is separate from their guaranteed basic income. Basic income has alleviated some of her financial anxiety, but she said "it's still not enough" to feel stable. The basic income program Kelly participates in is one of over 100 pilots across the US. Have you benefitted from a guaranteed basic income program?

Persons: —, Deborah Ogarro Kelly, Kelly, she's, it's, GBI, hasn't, We've Organizations: Service, Washington DC, Business, SNAP, Economic Security, Community Foundation's Health Equity Fund, City, BI, Republican Locations: Washington, The City, City

☆ Russia's creeping advance is costing it 1,200 soldiers a day: Western intel
▼ + stars: | 2024-05-31 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

The assessment attributes the elevated casualty rate to Russia's brutal ongoing offensive, noting that Russia's ability to replenish its units is stretched thin due to its consistent losses. According to Friday's intel from the UK Ministry of Defense, the average number of Russian personnel casualties was over 1,200 a day in May, the highest number reported since the war began. The ministry also said the total number of killed or wounded Russian soldiers since the February 2022 invasion is likely at 500,000. It's likely also the result of Russia rushing relatively inexperienced and untrained soldiers into battle, often in bloody head-on assaults. But Russia's high casualties also prevents it from training more capable units and keeping a majority of its troops in battle long enough to gain experience.

Persons: —, Stepanov, ISW, Oleksandr Syrskyi Organizations: Service, Business, intel, UK Ministry of Defense, Getty, Institute for, Washington DC, Ukrainian Locations: Russia, Kharkiv, AFP, Ukraine's, Washington, Ukraine, Ukrainian

☆ If you invested $1,000 in Chipotle 10 years ago, here's how much money you'd have now
▼ + stars: | 2024-05-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Chipotle has come a long way since the burrito-maker first went public nearly 20 years ago. Although it was founded in 1993, the restaurant chain made its stock market debut in January 2006 with shares priced at $22 each. Chipotle's stock price sat at $3,072.85 as of the market close on May 29. The chain is also preparing for its first stock split, which is set to take place after the market close on June 25. "This split comes at a time when our stock is experiencing an all-time high driven by record revenues, profits, and growth."

Persons: Chipotle, Jack Hartung Organizations: Washington D.C Locations: Washington, U.S, Canada, United Kingdom, France, Germany

☆ Mother of Jan. 6 officer Michael Fanone swatted after he called Trump 'authoritarian'
▼ + stars: | 2024-05-29 | by ( Ryan J. Reilly | ) www.cnbc.com time to read: +2 min

Former Washington DC police officer Michael Fanone finishes giving a speech denouncing political violence during a news conference put on by Courage for America featuring veterans, politicians on the west side of the U.S. Capitol building in Washington, U.S., January 5, 2023. Hours later, Fanone's mother was "swatted" at her home in Virginia. That night, Fanone told NBC News, his mother opened the door to law enforcement while in her nightgown, "mortified" to find SWAT team officers at her home. Pro-Trump protesters clash with D.C. police officer Michael Fanone during a rally to contest the certification of the 2020 U.S. presidential election results by the U.S. Congress, at the U.S. Capitol Building in Washington, U.S, January 6, 2021. Shannon Stapleton | ReutersWashington Metropolitan Police Department officer Michael Fanone testifies during the House select committee hearing on the Jan. 6 attack on Capitol Hill in Washington, U.S., July 27, 2021.

Persons: Michael Fanone, Leah Millis, Reuters Michael Fanone, Donald Trump's, Trump, Fanone, Donald Trump, Shannon Stapleton, Andrew Harnik Organizations: Washington DC, Courage, U.S . Capitol, Reuters, NBC News, NBC, FBI, Trump, D.C, U.S . Congress, U.S, Capitol, Reuters Washington Metropolitan Police Department Locations: America, Washington , U.S, Virginia

☆ Fox's Laura Ingraham says she got stuck on a plane for 8 hours, forcing her to call into her own show to say why she couldn't make it
▼ + stars: | 2024-05-29 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Laura Ingraham says she was forced to miss her own Fox News show after a United Airlines diversion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Laura Ingraham, host of the primetime The Ingraham Angle, posted to X on Tuesday to say that her United Airlines flight from Washington DC to Houston had been diverted to Austin. The trip — which ordinarily takes about three hours — had kept her in the air for seven and a half hours, she wrote. This story is available exclusively to Business Insider subscribers.

Persons: Laura Ingraham, Jeanine Pirro, Ingraham, —, Ingraham Angle Organizations: Fox, United, Service, Fox News, United Airlines, Washington DC, Business Locations: United Airlines, Trump's New York, Houston, Austin

☆ Russia started new offensive early and with too few soldiers, as it tried to get ahead of US aid to Ukraine, experts say
▼ + stars: | 2024-05-27 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Read previewRussia began its latest offensive in northern Ukraine too early and without enough soldiers because it wanted to get ahead of Western aid heading to Ukraine, experts said. AdvertisementRussia started its new offensive in Kharkiv, in northeast Ukraine, earlier this month. But, it added, "the likely premature start of Russian offensive operations appears to have undermined Russian success in northern Kharkiv Oblast." AdvertisementUkraine's President Volodymyr Zelenskyy in Kharkiv, Ukraine, on May 24, 2024. In April, Ukrainian President Volodymyr Zelenskyy said Russia was firing 10 times more artillery than Ukraine, and had 30 times more aircraft.

Persons: —, ISW, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Washington DC, for, Business, Presidential, AP Ukraine, Forces, Kharkiv, BI Locations: Russia, Ukraine, Kharkiv Oblast, Kharkiv, Kharkiv City, Berestove, Vovchansk

☆ Washington D.C. Attorney General explains why he's joining the DOJ suit against Live Nation
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWashington D.C. Attorney General explains why he's joining the DOJ suit against Live NationHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: he's, Brian Sullivan, “ Organizations: Washington, DOJ, CNBC

☆ GM CEO Mary Barra says she has no plans to retire soon as automaker's transformation continues
▼ + stars: | 2024-05-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors CEO and Chair Mary Barra on Thursday said she has no plans to retire any time soon as she tries to ensure the company's transformation is on "a good path." Barra, who is the longest tenured CEO outside of the company's founder, has been asked about retirement for several years. "I'm having a lot of fun, and I want to make sure we have our transformation on a good path," she said during a fireside chat at a Detroit Economic Club meeting. Barra reiterated she serves at the pleasure of the GM board and that she continues to have "fun." Cruise and EVs, along with software-defined vehicles and services, have been among the largest potential growth areas under Barra, who became CEO in January 2014.

Persons: Mary Barra, Barra, I've, Cruise Organizations: Economic, Washington, DETROIT – General, GM, Detroit Locations: Washington , U.S, DETROIT, San Francisco, Barra

☆ Trump's proposed tariffs would cost Americans $500 billion a year, think tank says
▼ + stars: | 2024-05-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Trump's proposed tariffs could cost Americans $500 billion annually, a think tank estimated. The cost of tariffs is often passed onto consumers as producers raise prices. A 10% tariff on imports could cost households an extra $1,500 a year, researchers say. Researchers at the Peterson Institute warned Trump's planned taxes on imports could end up being a huge burden on working-class Americans. That's about five times the cost of Trump's tariffs in 2018, when he imposed taxes on imports of steel, aluminum, and other goods.

Persons: Trump's, —, Donald Trump Organizations: Service, Washington DC, Peterson Institute, Business

☆ Trump is unlikely to testify in his hush-money trial as he could risk committing perjury, reports say
▼ + stars: | 2024-05-19 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDonald Trump is unlikely to testify in his hush-money trial in Manhattan, despite previously saying he would, sources familiar with the matter told The Washington Post. Four unnamed people close to the former president told the paper that they were not expecting him to take the witness stand next week. Related storiesDespite this, Trump has previously insisted that he would "absolutely" testify in the trial. On Friday, a centrist Washington DC-based think tank, Third Way, released an ad dubbed "Coward," daring Trump to take the stand.

Persons: —, Donald Trump, John Coffee, Trump, Stormy Daniels, Juan Merchan, Coward, Donald, Robert Mintz, Michael Cohen, Trump's, Todd Blanche, Cohen, Coffee, Blanche Organizations: Service, Washington Post, Business, Columbia Law School, Telegraph, Lawyers, Elmen, Washington DC, Post Locations: Manhattan, Washington

☆ Member of Israel's War Cabinet says he'll quit the government June 8 unless there's a new war plan
▼ + stars: | 2024-05-18 | by ( ) www.cnbc.com time to read: +3 min

Israeli war cabinet member Benny Gantz arrives at the US State Department ahead of a meeting with US Secretary of State Antony Blinken on March 5, 2024 in Washington DC. Gantz, a popular politician and longtime political rival of Netanyahu, joined his coalition and the War Cabinet in the early days of the war. There was fresh frustration Friday when the military said its troops in Gaza found the bodies of three hostages killed by Hamas in the Oct. 7 attack. The war began after Hamas' Oct. 7 attack on southern Israel that killed 1,200 people and took 250 others hostage. Israel says around 100 hostages are still captive in Gaza, along with the bodies of around 30 more.

Persons: Benny Gantz, Antony Blinken, Israel, Benjamin Netanyahu, Gantz, Netanyahu, Yoav Gallant, Jake Sullivan Organizations: US State Department, Washington DC, Israeli, U.S, West Bank Locations: Washington, Gaza, Saudi Arabia, Israel, Rafah, U.S, —, Qatar, United States, Egypt

☆ Microsoft asks some employees in China to move to other countries
▼ + stars: | 2024-05-16 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

CNN —Microsoft has asked at least 100 of its employees in China to consider moving to other countries, according to Chinese state media reports. Microsoft employees, mostly involved with cloud computing, were recently offered the opportunity to work in the United States, Australia or Ireland, among other countries, state-run outlet The Paper said in a report Wednesday, citing an unnamed source. The Wall Street Journal reported Thursday that Microsoft asked as many as 800 employees — mostly engineers with Chinese nationality working on cloud computing and AI — to consider relocating. In a statement reported by Reuters, Microsoft (MSFT) said providing internal opportunities for some employees was part of its regular business and the company remained committed to China. In recent months, the United States has also enlisted its allies in Europe and Asia in restricting sales of advanced chipmaking equipment to China.

Persons: —, Biden, Joe Biden Organizations: CNN, Microsoft, Street, The, Reuters, Microsoft Research Locations: China, Beijing, Washington, United States, Australia, Ireland, Europe, Asia

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