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☆ Revolut CEO confident on UK bank license approval as fintech firm hits record $545 million profit
▼ + stars: | 2024-07-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

LONDON — The boss of British financial technology giant Revolut told CNBC he is optimistic about the company's chances of being granted a U.K. banking license, as a jump in users saw the firm report record full-year pre-tax profits. Several small financial institutions have been able to win approval for a banking license with few customers, he added. "U.K. banking licenses are being approved for smaller companies," Storonsky said. A bank license would enable it to offer loans in the U.K. One conditions set by the Bank of England for granting Revolut its U.K. banking license, was to collapse its six classes of shares into ordinary shares.

Persons: Revolut, Nikolay Storonsky, we'll, Storonsky, SoftBank Organizations: CNBC, British, EMI, Prudential, Authority, Bank of England, Financial Times

☆ UK army is unprepared for war and would run out of ammo quickly, former defense official says
▼ + stars: | 2024-07-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

The UK army is unprepared for any type of war, a former defense official told the Financial Times. It would also run out of ammunition quickly in any large-scale operation, Robert Johnson said. Former and current defense officials have raised concerns about the UK's war readiness. AdvertisementThe UK's armed forces are not prepared for any type of war and would quickly struggle with supplies, a former defense official said. "In any larger-scale operation, we would run out of ammunition rapidly," Robert Johnson told the Financial Times.

Persons: Robert Johnson, —, Johnson Organizations: Financial Times, Service, Business

☆ The copyright lawsuits against OpenAI are piling up as the tech company seeks data to train its AI
▼ + stars: | 2024-06-30 | by ( Kenneth Niemeyer | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Leading tech companies like Google, Meta, OpenAI, Anthropic, and Microsoft are all scrambling to find new sources of data. Part of the problem is that publishers are increasingly accusing these companies of hoovering up copyrighted data. One solution is synthetic data, which is artificially generated rather than collected from the real world, and can easily be generated by machine learning algorithms. OpenAI has considered synthetic data as an option to train its models, but CEO Sam Altman has raised concerns about producing quality data. "As long as you can get over the synthetic data event horizon, where the model is smart enough to make good synthetic data, everything will be fine," Altman said at a tech conference in May 2023.

Persons: —, Simon, Schuster, OpenAI, they'll, Mother Jones, Monika Bauerlein, Axel Springer, Sam Altman, Altman Organizations: Service, Google, Microsoft, Meta, Business, US Copyright, Investigative, Center, Author's, New York Times, Guild, Associated Press, The, Street, New, New York Post, Prisa Media, Le Monde, Financial Times Locations: New York, The

☆ Israel has never been impressed with its version of the $1 billion Patriot air defense system. Now it could offload up to 8 to Ukraine.
▼ + stars: | 2024-06-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +5 min

It would be a welcome moment for Ukraine, which has long coveted more of the $1 billion US-manufactured Patriot systems. "Israel's Patriots would greatly expand Ukraine's air defense capacity at a time when it is sorely needed," John Hardie, the Deputy Director of the Foundation for Defense of Democracies Russia Program, said. Zelenskyy's Patriot pleasUkrainian President Volodymyr Zelenskyy has never been shy about his desire to get his hands on more Patriot systems. AdvertisementIn April, Zelenskyy told NATO members that Ukraine needed at least seven Patriot or other advanced air defense systems to defend against Russian attacks. The Patriot air defense systemA 2023 report by the Congressional Research Service describes the Patriot system as an "integral component of U.S. air and missile defense."

Persons: —, Vladimir Putin's, John Hardie, Ryan Bohl, RANE, Bohl, Volodymyr Zelenskyy, Zelenskyy, Putin, Joe Biden, John Kirby Organizations: Service, Russian, Financial Times, Business, Israel's Patriots, Foundation for Defense of Democracies Russia, Israeli Air Force, Patriot, Iraqi Scud, Officials, East, Hezbollah, NATO, Patriots, New York Times, National Security, Congressional Research Service Locations: Israel, Ukraine, North Africa, Lebanese, —

☆ Populism is 'quite strong' in Europe, says Leila Abboud
▼ + stars: | 2024-06-28 | 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 EmailPopulism is 'quite strong' in Europe, says Leila AbboudLeila Abboud, Financial Times Paris bureau chief, joins CNBC's 'The Exchange' to discuss France's snap elections, the state of European politics, and more.

Persons: Leila Abboud Leila Abboud Organizations: Financial Times Locations: Europe

☆ 'He must bow out': the media reacts to Biden's historically bad debate performance
▼ + stars: | 2024-06-28 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +6 min

Read previewPresident Joe Biden's historically bad debate performance on Thursday night was received so poorly that there's serious talk among America's commentariat that he could, or should, or needs to be replaced. AdvertisementLiz Peek, also writing for Fox News, described Biden's performance as shocking the nation and as "an astonishing disaster." It started with a devastating line: "The best that can be said of Joe Biden's stumbling debate performance was that it took place in June." Noah Smith, the American blogger, also offered a bleak assessment of the debate performance. AdvertisementAnd podcaster Joe Klein did not mince his words in his summary of Biden's debate performance.

Persons: —, Joe Biden's, Biden's, Brian Stelter, Biden, Thomas L, Friedman, Prez, Mark Penn, Joe, Liz Peek, Joe Biden, Stephen Collinson, KDAhZx2jyB, Molly Ball, Ball, Peggy Noonan, Ed Luce, pollster Nate Silver, what's, Noah Smith, Trump, Joe Klein Organizations: Service, Business, CNN, New York Times, The New York, Biden, Trump, Washington Post, Fox News Fox News, Fox News, CNN Politics, Street Locations: Afghanistan, Pakistan, Lisbon, York, Washington Post The Washington, ,

“Hard to watch” is how multiple foreign diplomats described Thursday night’s debate between Biden and Trump to CNN. I had difficulties understanding what he was saying, and I understand English pretty well,” said a second European diplomat. Biden’s debate flop was front-page news across Europe, with left- and right-leaning newspapers excoriating the president – even in France, where the country has its own elections coming up this weekend. “There are many options that are discussed, but we don’t see, any that are self-evident,” the first European diplomat said. Moscow’s state TV station, Russia 1, lampooned Biden’s debate performance.

Persons: Joe Biden’s, Donald Trump, Trump, Biden, ”, “ Trump, “, –, Vladimir Putin, Putin, ” Trump, Radek Sikorski, “ Marcus Aurelius, Commudos, didn’t, Kamala, Harris, Trump’s, Volodymyr, Zelensky, Biden pilloried, Joe’Matosed ”, “ Biden, Biden’s, Emmanuel Macron’s, Ansa, Russia’s, Olga Skabeeva laughingly Organizations: CNN, Biden, NATO, Democratic Party, ”, “, strongmen, Arab, Financial Times, Sun, Guardian, Monde, TV Locations: Europe, East, Asia, European, Arab, Asian, France, Russia, Ukraine, Russian, Afghanistan, Polish, California, Israel, British, Atlanta, Greece’s, Italy, Puglia

☆ US discussing possibility of transferring Israeli Patriot missile defense systems to Ukraine
▼ + stars: | 2024-06-27 | by ( Kylie Atwood | Oren Liebermann | ) edition.cnn.com time to read: +3 min

The US and Germany have already sent Patriot systems to Ukraine, but the Biden administration has made it clear that Kyiv needs more as Russia continues to launch aerial attacks on the country. It is unclear how long the process of finalizing details and transferring the systems to Ukraine would take. In April, the Israel Defense Forces said it would soon retire its Patriot systems, which were first fully integrated into the military in 1991. But the Patriot missiles is not Israel’s primary air defense system. Israel relies far more on its short-range Iron Dome aerial defense system, as well as its medium-range David’s Sling and long-range Arrow missiles.

Persons: CNN —, Biden, Benjamin Netanyahu, Vladimir Putin, Volodymyr Zelensky, Israel, “, ”, Pat Ryder Organizations: CNN, Patriot, Dome, Financial Times, Israel Defense Forces, Hamas, Pentagon Locations: Israel, Ukraine, Russia, Kyiv, Germany, Gaza

☆ Boeing says its space mission is 'going well' despite its Starliner leaving 2 astronauts stuck on the ISS
▼ + stars: | 2024-06-27 | by ( Mikhaila Friel | ) 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 previewBoeing is doing damage control as its first crewed commercial spacecraft remains on the International Space Station (ISS) with no confirmed return date. This story is available exclusively to Business Insider subscribers. AdvertisementAs Business Insider previously reported, helium supports Starlink's reaction control system thrusters, which allows them to fire. "Starliner is performing well in orbit while docked to the space station," the spokesperson said, though they added that no return date has been confirmed.

Persons: —, Butch Wilmore, Suni Williams Organizations: Service, Space, NASA, Business, Boeing, Financial Times Locations: Boeing's

☆ Bosses are using 'silent lay-offs' and 'quiet firing' to get rid of employees. It could backfire.
▼ + stars: | 2024-06-26 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

But the latest workplace trends — "silent layoffs" and "quiet firing" — could be the most harmful to date. Silent layoffs occur when a company provides staff with severance packages but asks them to keep quiet about the details of their exit. Amit Rawal, a management lecturer at City University of London's Bayes Business School, told BI that silent layoffs have become "increasingly popular across larger corporations." Related storiesThe goal of silent layoffs is likely to minimize the amount of negative traction the company receives. Advertisement'A PR disaster waiting to happen'Experts told BI that quietly getting rid of employees could easily backfire when employees opt to fight back and speak out.

Persons: —, PwC, Mohamed Kande, Amit Rawal, Eloise Skinner, it's, Skinner, Lucas Botzen, Suzanne Horne, Paul Hasting, Evan Nierman, Banyan, Dan Buckley, Buckley, Nierman, Horne Organizations: Service, Business, Financial Times, PwC Global Network, Europa Press, City University, London's Bayes Business, National Labor Relations, CNN, National Labor Relations Board, Dell, Workers, Amazon, BBC

☆ Why the world is barreling towards a 'food war,' according to one commodity trader
▼ + stars: | 2024-06-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Food wars will rise amid trade barriers and climate risk, Olam Agri's CEO warned. Advertisement"Food wars" are looming over global stability, as trade barriers and the climate crisis strain supply, the head of trading firm Olam Agri warned. We will fight bigger wars over food and water," he said during last week's Redburn Atlantic and Rothschild consumer conference. Though agricultural commodity traders took the blame for rising food costs after Russia's 2022 invasion of Ukraine, the CEO pushed back. Instead, the outbreak of non-tariff trade barriers was likely the chief culprit, with 1,266 curbs proliferating that year.

Persons: —, Sunny Verghese Organizations: Service, The Financial Times, Rothschild Locations: Ukraine

☆ An American mom raising teens in Paris said French parents don't check or track their kids' phones — and give them privacy for sex
▼ + stars: | 2024-06-25 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

The book's title in the UK was "French Children Don't Throw Food," summing up her observation that they were better behaved because of the less angsty approach. She said it was unusual for French parents to track their adolescents' location using the GPS on their phones. In contrast, French parents spent almost an hour less "together time" with their kids in 2020 than they did 55 years earlier. The mom added that French parents ensure that they are not defined as such. If you'd like to share it with Business Insider, please send details to jridley@businessinsider.com.

Persons: —, Pamela Druckerman, Druckerman, Dimitry Kostyukov, I've, aren't, Timothy A, Clary Organizations: Service, Business, American, Financial Times Locations: Paris, Miami, America, France, Spain, Canada

A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong

The $3 trillion company is the first to be charged under the Digital Markets Act, a landmark 2022 E.U. Here are the E.U.’s accusations against Apple:The App Store violates so-called steering rules. Regulators say that app developers cannot easily inform their customers about new offerings, including cheaper deals, within Apple’s ecosystem. The fees Apple charges are excessive. products and services in Europe because of “regulatory uncertainties.”And the company already faces a $2 billion E.U.

Persons: Apple Organizations: Apple, European Union, Digital Markets, Google, Financial Times, Microsoft Locations: Apple’s, Europe

☆ Linda Yaccarino fired her right-hand man at X and replaced him with a senior staffer from the pre-Elon era: report
▼ + stars: | 2024-06-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

Joe Benarroch was the head of business operations and communications at X. He was fired in June in part for botching the rollout of X's new NSFW policy, sources told FT.Nick Pickles, who was a senior Twitter employee, is taking over Benarroch's role, per the FT report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementX CEO Linda Yaccarino fired her right-hand man, Joe Benarroch, and replaced him with a longtime senior Twitter employee, sources told The Financial Times. Benarroch led comms at the social media company for about a year as the head of global business operations as Twitter transitioned to X after Elon Musk's takeover.

Persons: Joe Benarroch, Nick Pickles, —, Linda Yaccarino, Benarroch, Elon, Yaccarino Organizations: Service, Financial Times, Twitter, Wall Street, Business

☆ Efficiency helped turn Silicon Valley around. China is taking it to the extreme to do the same.
▼ + stars: | 2024-06-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Now, China's tech bosses seem ready to do the same. AdvertisementChina is pushing tech workers even harderChinese tech companies seem willing to take Silicon Valley's efficiency mantra even further. Big names on China's tech scene, like JD.com and Jack Ma's Alibaba, have faced a threat from fast-growing newcomers like Pinduoduo, the sister company of online marketplace Temu. AdvertisementQu left Baidu after her comments were made public, but the ferocity of what China's tech workers are hearing isn't abating.

Persons: —, Mark Zuckerberg, Andy Jassy, Meta's Mark Zuckerberg, Richard Liu, Liu, Jack Ma's Alibaba, Pinduoduo, Jack Ma, Wang, Ma's Alibaba, aren't, Qu Jing, Qu, Baidu, isn't Organizations: Service, Business, Financial Times, Bloomberg, China Labor Watch, Baidu Locations: China, Beijing

☆ Jensen Huang's Nvidia sure hopes the AI bubble doesn't burst anytime soon
▼ + stars: | 2024-06-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

AdvertisementHowever, Nvidia's run faces one big risk: it depends on the generative AI boom lasting. Though tech giants, including Apple, Google, Meta, and Microsoft, now appear to have made generative AI their priority, there appears to be awareness of the technology's weaknesses. Google, for instance, was forced to apologize earlier this year after its generative AI image generator created historically incorrect images in response to user requests. For now, though, the industry seems intent on moving ahead with LLM-enabled generative AI. That should keep Nvidia in the race with Microsoft and Apple to a $4 trillion valuation.

Persons: —, Jensen Huang, they've, Dan Ives, Huang, Tim Cook, Yann LeCun Organizations: Service, Nvidia, Microsoft, Apple, Business, Meta, Google, Blackwell, Apple Intelligence, Financial Locations: Taipei

☆ China's ax-wielding clash at sea with the Philippines is a way to 'exhaust' it into accepting territory claims, expert says
▼ + stars: | 2024-06-21 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

The incident on Monday is the latest "gray-zone" skirmish in the South China Sea, where China has increasingly used nonlethal but highly provocative measures to harass other countries there. China has claimed sovereignty over the South China Sea for decades, a claim that was roundly rejected in the Hague in 2016. On Saturday, it enacted a law allowing its Coast Guard to seize foreign ships suspected of trespassing, CNN reported. It comes after several other aggressive acts from Beijing in the South China Sea in recent months, involving lasers, water cannons, maritime militias, and even the alleged poisoning of fishing waters. A screen grab from a video provided by the Philippine Coast Guard showing Chinese vessels shooting water cannons at a ship in the South China Sea, on April 30, 2024.

Persons: —, Sari Arho Havrén, Collin Koh, Havrén, Xi Jinping, Biden, Joe Biden, Xi, Xi's Organizations: Service, Business, Coast Guard, CNN, Royal United Services Institute, AFP, —, Forces, Armed Forces, China Coast Guard, South China, Chinese Coast Guard, Philippine Coast Guard, Rajaratnam, of International Studies, Getty, Financial Times Locations: South China, China, South, Hague, Philippines, AFP, Palawan, Philippines China, Beijing, Singapore, Japan, Taiwan, Gaza, Ukraine

☆ Jeff Bezos is under fire at the Washington Post as patience wears thin among staffers
▼ + stars: | 2024-06-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —When will Jeff Bezos actually address the upheaval roiling his newsroom? “Will Lewis needs to step down for the good of The Post and the public,” wrote Higham on Facebook. But surely the billionaire understands the dire situation gripping The Post. Staffers at The Post are very much waiting for Bezos to take some meaningful form of action. In the absence of Bezos, the stories raising questions about Lewis’ ethical integrity keep coming.

Persons: Jeff Bezos, Will Lewis, Bezos, Lewis, Robert Winnett, David Maraniss, doesn’t, Scott Higham, Lewis ’, “ Will Lewis, ”, Higham, it’s, He’s, Boris Johnson, Johnson Organizations: New York CNN, Washington Post, The, Facebook, CNN, Financial Times, New York Times Locations: New York, Higham

☆ Pennsylvania Sen. Casey warns Amazon, Target and Walmart over 'greedflation' pricing
▼ + stars: | 2024-06-21 | by ( Rob Wile | ) www.cnbc.com time to read: +4 min

Meanwhile, an average Pennsylvania family has paid almost $7,000 more "toward greedflation," Casey says. "Americans deserve to pay fair prices, and corporations must be held accountable for taking advantage of working families," he writes. NBC News has reached out to Amazon, Target and Walmart for comment. "Price increases that consumers have been confronted with have not been inflationary increases but, instead, greedflation-related increases," he writes. Amazon, Target and Walmart have each recently announced moves to lower prices for certain goods or release new value-based products.

Persons: Pennsylvania Sen, Bob Casey, Casey, Walmart's, Someone's, they're, Olivier Blanchard, Blanchard, Price, —, they've Organizations: Target, Walmart, NBC News, Amazon, NBC, Financial Times, Massachusetts Institute of Technology Locations: Pennsylvania, United States

☆ The US plans to halt some orders for Patriot missiles and give them to Ukraine instead: report
▼ + stars: | 2024-06-20 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

The US plans to stop open orders for Patriot interceptor missiles, the Financial Times reported. It aims to send them to Ukraine instead, leaving other countries to wait, per the FT.Ukraine has repeatedly asked for more Patriot systems, but has only received a handful from its allies. 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 . AdvertisementThe US plans to halt open orders for the delivery of Patriot interceptor missiles and send them to Ukraine instead, the Financial Times reported, citing people with knowledge of the discussions.

Persons: —, Joe Biden Organizations: Financial Times, Service, Business Locations: Ukraine

☆ Russian arms manufacturers are 'scrambling to expand their production capabilities using whatever they can get,' expert says
▼ + stars: | 2024-06-19 | by ( Rachel Hosie | ) 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 previewRussia is rushing to expand its arms production by buying secondhand machine tools from China through covert networks to get around Western sanctions. A report from Washington-based nonprofit think-tank The Center for Advanced Defense Studies, or C4ADS, said that Russia's arms manufacturers were "scrambling to expand their production capabilities using whatever they can get." And Russian defense industry analyst and lead researcher Allen Maggard told the Financial Times that the decades-old machine tools Russia is importing are still effective. AdvertisementGlenn Gray, the president of Gray Machinery, told the FT he'd never heard of the company.

Persons: —, Allen Maggard, Andrey Mironov, Glenn Gray, Tsugami, hasn't, C4ADS, UMIC —, ELE Organizations: Service, Advanced Defense, Business, Financial Times, Kremlin, AMG, ELE Technology, Gray Machinery Locations: Russia, China, Washington, Ukraine, UAE, Russian

☆ China could soon have to choose between fueling the Ukraine war and its access to Europe's economy
▼ + stars: | 2024-06-18 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewNATO Secretary General Jens Stoltenberg this week warned China it faces a stark choice if it continues backing Russia's Ukraine invasion. "But the reality is that China's fueling the largest armed conflict in Europe since World War II. In response, China has said it is not a party to the Ukraine war and that there should be no interference with trade between China and Russia. AdvertisementChina-Europe tensions increaseIt's not just China's support for Russia that appears to be focusing European minds on the potential threat it poses. Both have taken a critical stance towards Ukraine and appear keen to do more business with China, in defiance of EU policy.

Persons: —, Jens Stoltenberg, Xi, Stoltenberg, Emanuel Macron Organizations: Service, Publicly, Business, West, European Commission, US, European Union, Financial Locations: China, Ukraine, Europe, Beijing, Russia, Germany, Hungary, Serbia

☆ Xi's claim that the US is trying to trick China into invading Taiwan is meant to divide the US and its allies: experts
▼ + stars: | 2024-06-18 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Read previewXi Jinping's claim that the US is trying to trick China into invading Taiwan is aimed at driving a wedge between the US and its European allies, experts told Business Insider. But in addressing the issue with the EU leader, Xi was trying to counter the US narrative and undermine transatlantic relations, Scobell said. "Also, China knows that the EU is generally ambivalent about backing the United States in a war with China over Taiwan," he added. However, over the last few years, the mood in Washington, DC, has shifted toward greater hawkishness, Graeme Thompson, an analyst with the Eurasia Group, told Business Insider in November. Under its One China policy, the EU recognizes the People's Republic of China as the sole legal government of China.

Persons: —, Ursula von der Leyen, Xi, Andrew Scobell, Scobell, Craig Singleton, Singleton, Timothy Heath, von der Leyen, Graeme Thompson, Mike Pompeo, John Bolton Organizations: Service, European, Financial Times, Business, US Institute of Peace, BI, EU, Foundation, Defense of Democracies, Taiwan, RAND, Eurasia Group, Royal Services Institute Locations: China, Taiwan, Beijing, Ukraine, United States, Washington ,, People's Republic of China, EU, Taiwan Strait

☆ Shein's CEO is so low-profile his employees don't even recognize him: report
▼ + stars: | 2024-06-18 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

Read previewFast-fashion giant Shein is gearing up for its widely-anticipated debut as a public company. But one key figure has stayed out of the spotlight: CEO Xu Yangtian, also known as Sky Xu. Even Xu's own employees don't recognize him in the office, the South China Morning Post reported on Monday. As a public company CEO, he'll be expected to participate in regular updates — UK companies are not required to have quarterly earnings calls, but most do — and interact with investors. Loyalty to China under scrutinySo far, Shein's public face has been executive chairman Donald Tang.

Persons: —, Xu Yangtian, Xu, Chris Xu, Shein, Frances Townsend, Townsend, he'll, Jack Ma, Donald Tang, Bear Stearns, Tang Organizations: Service, TikTok, Business, China Morning Post, Wall, Bloomberg, Shein's, Street, Shein, Milken, Pacific, Financial Locations: Guangzhou, London, China, Shanghai, Beijing

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