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Summer plans may have just been dashed for federal student loan borrowers hoping to see their payments drop in July. Federal judges in Kansas and Missouri issued rulings on Monday on separate lawsuits aiming to block further implementation of President Joe Biden's Saving on a Valuable Education income-driven repayment plan. Some borrowers have already seen their loans forgiven due to the SAVE plan. "The Department of Justice will continue to vigorously defend the SAVE Plan," Secretary of Education Miguel Cardona said in a statement. Borrowers can continue to enroll in the SAVE plan if they haven't already, according to the Federal Student Aid website, which says it will provide more updates soon.
Persons: Joe Biden's, Biden, Education Miguel Cardona, Cardona Organizations: Department, Justice, SAVE, Education, Republican, Higher, Federal, Aid Locations: Kansas, Missouri
Routing through ChinaChina Telecom, China Mobile and China Unicom have long been in Washington's crosshairs. The FCC denied China Mobile's application to provide telephone service in 2019 and revoked China Telecom and China Unicom's licenses to do the same in 2021 and 2022 respectively. It cited at least nine instances where China Telecom misrouted internet traffic through China, putting it at risk of being intercepted, manipulated or blocked from reaching its intended destination. China Telecom has previously denied the government's allegations and told U.S. agencies that routing problems are common and occur on all networks. China Telecom did not respond to requests for comment about its U.S. based PoPs.
Persons: Peter Parks, Biden, China Unicom, Doug Madory, Bill Woodcock, Alibaba Organizations: HK, China Mobile, Peter, AFP, Getty, China Telecom, Authorities, Commerce Department, China, Commerce, Embassy, Reuters, Washington, Regulators, China China Telecom, FCC, U.S, Justice Department, PoPs Locations: China Mobile, China, Beijing, United States, Washington, crosshairs, U.S
HKEX CEO aims for more large-scale IPOs this year
  + stars: | 2024-06-25 | 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 EmailHKEX CEO aims for more large-scale IPOs this yearBonnie Chan, the new CEO of Hong Kong Exchanges and Clearing Limited, discusses her first 100 days and outlook at the World Economic Forum's Annual Meeting of the New Champions in Dalian, China.
Persons: Bonnie Chan Organizations: Hong Kong Exchanges, New Locations: Dalian, China
Gold prices could hit $3,000 per ounce over the next 12 to 18 months if demand increases among large institutional investors, according to Bank of America commodity strategists. Central bank demand is also a positive sign, according to Bank of America. Monetary authorities are planning to increase their purchases of gold, according to the World Gold Council's central bank survey . Central banks are increasing gold reserves as a hedge against inflation, according to the survey. Monetary authorities are also reducing U.S. Treasury holdings and increasing gold reserves amid worries about the dominance and health of the dollar, according to Bank of America.
Organizations: Bank of, Federal Reserve, Bullion Market, Bank of America, Monetary, World Gold, Treasury Locations: Central, China, Beijing, @GC
Trump Media stock has plunged 46% since Trump's federal hush-money trial verdict. AdvertisementTrump Media stock has plunged 46% since former President Donald Trump was found guilty of 34 counts of falsifying business records in his federal hush-money trial last month. Trump Media stock fell 6% on Monday, declined by another 10% on Tuesday, and is down another 10% on Thursday. Trump Media's amended S-1 filing also includes a new risk that comes just weeks after former President Donald Trump signed up for TikTok. Trump has almost exclusively posted on his Truth Social media platform since he was banned from most major social media platforms following the January 6 insurrection.
Persons: Devin Nunes, , Donald Trump, Nunes, Trump, Donald J Organizations: Trump Media, SEC, Trump Media's, Service, Social, TikTok, Truth Locations: TMTG
That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them. The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30. But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%. The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher. Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.
Persons: That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele Organizations: Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty Locations: Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City
“He’s not aggressive, he’s a lover,” Terrie Drewry told CNN affiliate KOVR in 2019, days after Diesel’s great escape. “Finally we saw him,” Drewry told KOVR this month after the Instagram video began making headlines. On a hunting trip in March, Fennell stumbled upon the elk herd — and was stunned to see a donkey among them. Diesel and Dave Drewry Courtesy Terrie and Dave DrewryDrewry suspects that, if the donkey Fennell spotted is indeed Diesel, he’s merely doing his donkey duty and protecting his deer friends. And the donkey in Fennell’s video appears to be thriving in the wilderness, with friends by his side.
Persons: , ” Terrie Drewry, Diesel’s, , Diesel, Drewry, ” Drewry, KOVR, Dave, Max Fennell, Fennell, disbelieving Fennell, ” Fennell, I’m, Dave Drewry, Dave Drewry Drewry, he’s, won’t, “ He’s Organizations: CNN, KOVR, Diesel, Land Management Locations: Sacramento , California, California, Sacramento
The only constant in life is change — even for a billionaire like Melinda French Gates. "I think a lot lately about transitions," French Gates, 59, said during a commencement speech at Stanford University on Sunday. Practice 'radical open-heartedness'Embrace moments of change — whether they're exciting, frustrating or tragic — with an open heart, French Gates advised. Many people prefer to keep their head down and power through the uncertainty, French Gates noted — including herself, when she was younger. And like the big wave, I thought things were coming to an end for me," French Gates continued.
Persons: Melinda French Gates, Gates, Melinda Gates, Bill Gates, who's, , Kevin Antshel, Ram Dass, Charlotte Organizations: Stanford University, Microsoft, Melinda Gates Foundation, CNBC
CNN —Two fast-growing fires are tearing across a southern New Mexico tribal reservation and converging on a village “like a pair of tongs,” prompting thousands of residents to evacuate, officials say. An estimated 5,000 residents were ordered to evacuate the village area due to the approaching South Fork Fire, New Mexico Forestry spokesperson George Ducker told CNN. A second blaze, the Salt Fire, is also burning on tribal land south of Ruidoso and has scorched 2,000 acres. The South Fork Fire has burned more than 5,000 acres and is zero percent contained, according to an overnight update from the New Mexico Forestry Division. Both fires are acting like “a pair of tongs, and Ruidoso is in the middle,” Ducker said.
Persons: George Ducker, Ducker, ” Ducker, Jesus Figueroa, Ruidoso, Rebecca Dennis, ” Dennis, Roswell –, Ruidoso –, ” PNM, CNN’s Melissa Alonso, Dave Alsup, Amanda Jackson, Robert Shackelford Organizations: CNN, New Mexico Forestry, Mescalero Apache, New, New Mexico Forestry Division, New Mexico State Police, Facebook, Apache Summit, Eastern New Mexico University, New Mexico State Fairgrounds, Storm, US Drought Monitor Locations: New Mexico, Ruidoso, Snow, Whitetail, Chihuahua, Lane, Summit, Los Angeles County, Northern California’s Sonoma County, Oklahoma, Sudderth, Roswell, lockstep, Lincoln County
Nikhil Gupta has been accused by U.S. federal prosecutors of plotting with an Indian government official to kill Gurpatwant Singh Pannun, a U.S. resident who advocated for a sovereign Sikh state in northern India. Gupta traveled to Prague from India last June and was arrested by Czech authorities. Canada said in September its intelligence agencies were pursuing allegations linking India’s government to the murder of Sikh separatist leader Hardeep Singh Nijjar in June 2023 in Canada. India’s government has dissociated itself from the plot against Pannun, saying it was against government policy. New Delhi has long complained about Sikh separatist groups outside India, viewing them as security threats.
Persons: Nikhil Gupta, Gurpatwant Singh Pannun, Gupta, Jeffrey Chabrowe, India’s, Hardeep Singh Nijjar, Pannun, , Narendra Modi, Washington Organizations: Washington Reuters, U.S, of Prisons, Indian, Metropolitan Detention Center, U.S . Justice, Sikh, Reuters Locations: An, United States, Czech Republic, U.S, India, Prague, Czech, Brooklyn, Brooklyn ., Canada, Washington . New Delhi
Just about 41 miles north of Dallas lies Celina, a small North Texas town that is America's fastest-growing city. Downtown Celina, Texas. Their metamorphosis into sprawling suburban metropolises has been greatly influenced by the ongoing expansion of the North Texas Tollway, which has increased accessibility to the previously remote cities. AdvertisementNew businesses are moving into the cityWith more people living in the city, Celina's economy is also growing as local businesses and services benefit from increased demand. However, Joe Monaco, director of marketing and communications for the city of Celina, told BI that there were "countless volunteers who came out."
Persons: There's, Katy, Ryan Tubbs, Celina, Celina Alcynna Lloyd, Taylor Morrison, Toll, Tubbs, Bankrate, Casas, Aaron Graham, Graham, They're, Tracy Miller, Celina —, Miller, Alcynna Lloyd, , Sandy Lewis, It's, Celina ., Joe Monaco Organizations: Business, Downtown, Houston, homebuying, North Texas Tollway, Tollway, North Texas Tollway Authority, Celina, Highland Homes, Texans, Homes, Olympic, JC, Real, Group, Mustang, Highland, Little Elm, Troubadour, Celina's, Centurion American Development Group, Dallas, WFAA Locations: Dallas, Celina, North Texas, Collin County, Texas, California, Florida, Georgia , Illinois, Missouri, Africa, Asia, Central America, Europe, Downtown Celina , Texas, Celina Texas, United States, Austin, Celina , New Braunfels, Prosper, Frisco, Plano, Frisco ., Highland, Celina —, Wilson Creek, Cambridge, East Coasts, New York
About 40 miles north of downtown Dallas lies America's fastest-growing city: Celina, Texas. Highland Homes, which specializes in luxury homes within master-planned communities, has built several neighborhoods in Celina since 2020. Downtown Celina, Texas. New businesses are moving into the cityWith more people living in the city, Celina's economy is also growing as local businesses and services benefit from increased demand. However, Joe Monaco, director of marketing and communications for the city of Celina, told BI that there were "countless volunteers who came out."
Persons: Katy, Ryan Tubbs, Celina, Prosper, Alcynna Lloyd, Taylor Morrison, Toll, Bankrate, Casas, Aaron Graham, Graham, wasn't, Redfin, They're, Tracy Miller, Celina — it's, Miller, Tubbs, Dallas —, Sandy Lewis, It's, Joe Monaco Organizations: America's, Business, Houston, North Texas Tollway, Tollway, North Texas Tollway Authority, Celina, Highland Homes, Texans, Olympic, JC, Real, Group, Highland, Dallas, Troubadour, Development Group, WFAA Locations: downtown Dallas, Celina , Texas, Celina, Collin County, Texas, California, Florida, Georgia , Illinois, Missouri, Africa, Asia, Central America, Europe, Celina Texas, United States, Austin, Dallas, Celina , New Braunfels, North Texas, Frisco, Plano, Frisco ., Prosper, Highland, Celina ., Mustang, Cambridge, Wilson, Celina's, East Coasts, New York, Little Elm , Texas
Entering a new era of unpredictable politics, South Africa’s newly elected Parliament convened for the first time on Friday as lawmakers prepared to elect the country’s next president after national elections last month. The long-governing African National Congress, which failed to secure an absolute majority for the first time since it came to power after the end of apartheid, was expected to form a delicate alliance with rival parties, clearing the way for Cyril Ramaphosa to be elected president for a second term. But the two weeks after the election have been marked by turbulent negotiations between the A.N.C., which Mr. Ramaphosa leads, and rival political parties. The process has exposed deep fissures within the A.N.C. and in the broader society, and in a telling development, Parliament opened without any kind of formal announcement about a coalition agreement.
Persons: Cyril Ramaphosa, Ramaphosa Organizations: African National Congress Locations: South
Dividend-paying companies might feel compelled to cut their dividends if they're grappling with a lot of debt, as higher rates raise the cost of leverage for companies. He added dividend cuts can also serve as a "clearing event" for a stock, ironically spurring a period of outperformance. See below for a few of the potential contenders for dividend cuts. The stock is down more than 15% in 2024, and it offers a dividend yield of nearly 5%. Shares are up about 17% in 2024, and the stock has a dividend yield of 3.5%.
Persons: Jerome Powell, Chris Senyek, Wolfe, Matthew Boss, Vail, Goldman Sachs, Christine Cho, Nordstrom Organizations: Wolfe Research, Federal, Vail Resorts, JPMorgan, Vail, Nordstrom, Whirlpool, Owl Locations: Wednesday's
Russia's Moscow Exchange halted dollar and euro trading on Thursday. AdvertisementRussia's central exchange has barred dollar and euro trading, spelling an end to a market that's been open since the Cold War. Trades were halted Thursday on the Moscow Exchange after it became one of many targets of an expansive new US sanctions package. The latest sanctions are part of a US effort to sever Russia from foreign financial support, taking aim at virtually any global lender that transacts with Moscow. Last month, the yuan made up over half of foreign currency trades in Russia, the FT reported.
Persons: That's, , Moex Organizations: Russia's, Russia's Moscow Exchange, US, Service, Clearing Center, Settlement Depository, Financial Times, Bloomberg Locations: Russia's Moscow, Moscow, Russia, Ukraine, Russian, Beijing
New US sanctions against Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, the Moscow Exchange. “Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said. The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight. The central bank said it would use data from those trades to set official exchange rates. The central bank reassured people these deposits were secure.
Persons: MOEX Organizations: Moscow Exchange, Moscow Exchange Group, , Reuters, Moscow, Norvik Bank, Tsifra Bank, US Treasury, Investments, Forbes Russia, MOEX, Clearing Locations: Russia, Moscow, Russian, Washington, Ukraine, United States, Beijing,
CNN —On the western slopes of the Andes in Ecuador, John L. Clark, a research botanist at Florida’s Marie Selby Botanical Gardens, happened upon what he calls a miracle. That he could see it at all, nestled there on a moss-covered rock in a remnant patch of untouched land, was impressive. Back in the lab, Clark and his team confirmed that the little plant was a species new to science, and he and his team named it Amalophyllon miraculum. That’s why we decided to call it miraculum,” research botanist John L. Clark said. To an untrained eye, it’s nearly impossible to see the plant about which he’s so excited.)
Persons: John L, Clark, , they’re, Clark “, Laurence Skog, Martin Schaefer, ” Schaefer, E.O, Wilson, , , ” Clark, Schaefer, Amanda Schupak Organizations: CNN, Marie, Marie Selby Botanical, Smithsonian Institution’s National, of, Jocotoco Conservation Foundation Locations: Ecuador, Marie Selby, Centinela, Washington , DC, Western Ecuador, New York City
Israeli soldiers used a trebuchet to throw incendiaries near the Lebanese border, a video appears to show. The Israeli military stated this was a local initiative, not a widespread tool, per local reporting. 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 . AdvertisementAn unusual video apparently depicting Israeli soldiers launching fireballs near the Lebanese border using a trebuchet, a siege weapon used to attack castles and fortifications in ages past, began circulating on social media Thursday.
Persons: Organizations: Service, KAN News, Business Locations: Lebanese
Disney and Gov. Ron DeSantis of Florida have finally ended their feud, clearing the way for $17 billion in planned development at Walt Disney World near Orlando. On Wednesday night, the Central Florida Tourism Oversight District — an entity that Mr. DeSantis took over in 2022, ending 55 years of Disney control and sparking multiple lawsuits — gave the company a big part of what it wanted all along: a locked-in, long-term plan for expanding Disney World. At least for the next 15 years, the length of the new agreement, Disney can develop the resort without worrying about interference by Florida politicians. Put bluntly, state leaders can no longer use growth at the 25,000-acre resort as a political weapon, as Mr. DeSantis did two years ago after Disney said it would fight to repeal a state education law that opponents called anti-gay.
Persons: Ron DeSantis, DeSantis, , Disney, Jeff Vahle Organizations: Disney, Walt Disney, Central Locations: Florida, Orlando, Central Florida
The loan is expected to be delivered by the end of 2024, which would ensure the money would get to Ukraine before a potential change in US presidents. “This loan will mostly be provided by the United States and will be supplemented by money from Europe,” an Élysée source told journalists at a briefing. “Countries are still discussing how to partition the cost if the profits from Russian assets are not sufficient to cover the need,” the French source added. G7 countries began brainstorming ways to identify longer-term sources of funding for Ukraine in late 2023, as lawmakers delayed in greenlighting the White House’s funding request. The World Bank estimates that Ukraine would need more than $500 billion to rebuild, a figure that climbs each day the war continues.
Persons: Joe Biden, Donald Trump, Trump, Vladimir Putin, Jake Sullivan, Biden, ” Sullivan, , , Tim Adams, Marshall, Xiaofei Xu Organizations: Washington CNN —, US, Ukraine, Ukraine –, Atlantic, Treasury, State, National Security, Institute of International Finance, United, Marshall Plan, European, Bank Locations: Ukraine, Western, Europe, Russia, Brindisi, Italy, United States
8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.
Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China
D-Day is more than the largest amphibious invasion in history. The US Navy now aims for enough amphibious capacity to land just two Marine brigades on a hostile shore. Universal History Archive/UIG via Getty ImagesIn World War II, the best way to stop an amphibious invasion was before the first troops stepped onto the beach. If the defender's navy and air force could destroy or turn back an invasion fleet, the landing would never take place. An enemy that has these can threaten the invasion armada and the landing force it launches as it chugs to the beach.
Persons: Ryan, Hitler, Michael Peck Organizations: Service, US Army, British Army, Navy, Royal Navy, Royal Canadian Air Force's, Hornet, Allies, US Navy, US Air Force, 82nd Airborne, US Troops, Getty, Luftwaffe, Allied, Spy, Argentine Air Force, Russian Navy, Helicopters, U.S . Navy, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Normandy, Europe, Britain, Omaha, Russo, Ukraine, Soviet, Pacific, Sicily, Salerno, Anzio, Omaha Beach, Russia, China, Iran, North Korea, Ukrainian, Bikini, Hiroshima, Nagasaki, Forbes
Tu Lam, a former Special Forces soldier, rates the fighting techniques Keanu Reeves uses in the "John Wick" movies. He talks about judo and jujitsu, sniper techniques, and the ways public missions are handled in "John Wick" (2014), with Alfie Allen, Willem Dafoe, and John Leguizamo. He explains how suppressors work, the best ways to handle a knife, and how to turn anything in a room into a weapon, as seen in "John Wick: Chapter 2" (2017), with Common, Ruby Rose, and Laurence Fishburne. He compares his own experiences with urban shootouts, working with military dogs, and fighting on a motorcycle to "John Wick: Chapter 3 — Parabellum" (2019), with Halle Berry, Ian McShane, and Anjelica Huston. Finally, he breaks down defensive driving, clearing a room, and fighting on stairs in "John Wick: Chapter 4" (2023), with Bill Skarsgård and Donnie Yen.
Persons: Lam, Keanu Reeves, John Wick, Alfie Allen, Willem Dafoe, John Leguizamo, Ruby Rose, Laurence Fishburne, Halle Berry, Ian McShane, Anjelica Huston, Bill Skarsgård, Donnie Yen Organizations: Special Forces, Business
Mike Lynch, a British software mogul who was once one of his country’s most celebrated chief executives, was acquitted of fraud on Thursday in San Francisco federal court, clearing him of charges that he had led one of the biggest frauds in the technology industry. A jury found him not guilty of falsely inflating revenue at Autonomy, the company he founded and led, when he sold it to Hewlett-Packard for $11 billion in 2011. Mr. Lynch, 58, who faced decades in prison, had initially been charged with 16 counts of fraud and conspiracy, though one fraud charge was eventually dismissed. Thursday’s verdict, coming after a monthslong trial in California, is a milestone in Mr. Lynch’s decade-long odyssey to clear his name.
Persons: Mike Lynch, Lynch Organizations: Autonomy, Hewlett, Packard, Mr Locations: British, San Francisco federal, California
CNN —After decades of false starts, researchers say they are finally making progress on a long-acting and reversible birth control option for men. The gel was developed by the National Institutes of Health and the nonprofit Population Council, and it takes much the same approach as birth control pills for women. “I would say our expectation was that it would be similar to hormonal birth control pills. The gel also seems to have other advantages over female birth control. To him, it doesn’t feel fair that his partner has to shoulder the burden of birth control.
Persons: “ We’ve, , Diana Blithe, Blithe, , that’s, Matthew Treviño, it’s, he’s, “ I’ve, Emily Fletcher, , Roe, Wade, ’ “ Fletcher, Treviño, ” Treviño, That’s, Christina Wang, Dr, Sanjay Gupta, Wang, they’ll, Brian Nguyen Organizations: CNN, National Institutes of Health, Population Council, NIH’s National Institute of Child Health, Human, Endocrine Society, World Health Organization, University of California, UC Davis, US Food and Drug Administration, Lundquist, Medical, Get CNN, CNN Health, University of Southern Locations: Boston, Sacramento , California, Davis, University of Southern California
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