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The world’s two most powerful countries, the United States and China, are meeting this week in Washington to talk about climate change. In an ideal world, where the clean energy transition was the top priority, they would be on friendlier terms. Maybe affordable Chinese-made electric vehicles would be widely sold in America, instead of being viewed as an economic threat. Instead, in the not-ideal real world, the United States is balancing two competing goals. Its concern is that Chinese dominance of the global market for these essential technologies would harm the U.S. economy and national security.
Persons: Biden, John Podesta, Liu Zhenmin Locations: United States, China, Washington, America, Nevada, Beijing
U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta , Alphabet and Amazon in particular having a strong showing over the past couple of weeks. Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector. Kevin Liu, managing director and strategist at CICC Research, said his conviction call would be a structural barbell allocation with themes including tech names "with high-end upgrading opportunities," among others. Stock screen Against this backdrop, CNBC Pro screened FactSet for stocks from four exchange-traded funds (KraneShares CSI China Internet ETF, Vanguard Information Technology ETF, Invesco China Technology ETF and the iShares MSCI China Multisector Tech ETF) to find stocks that: have beaten the S & P 500's around 9% year-to-date performance.
Persons: Bernstein, Kevin Liu Organizations: Dow Jones, Tech, UBS, CICC Research, CNBC Pro, CSI China Internet, Vanguard Information Technology, China Technology ETF, China Multisector Tech Locations: China
Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.
Persons: , Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel
China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.
Persons: Bernstein, it's, , Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong
When Rubia Daniels heard a town in Italy was selling off abandoned homes for 1 euro each (or roughly $1.05), she had to take a look herself. Rubia Daniels is from Berkeley, Calif., and bought several 1-euro houses in Mussomeli, Sicily. "It's much easier to make friends in Sicily than it is to make friends back in California," Daniels says. "It's a much more stressful way of living," Daniels says. Rubia Daniels 1-euro homeowner in Mussomeli, Sicily
Persons: Rubia Daniels, Daniels, she's, Mickey Todiwala, Nathalie Milazzo, Katerina Montagnino, Montagnino, Leo Organizations: CNBC Locations: Italy, Berkeley, Calif, Mussomeli, Sicily, California, Europe, U.S, Bay
The city of Wenchang is home to a rocket launch center – and a tourist industry that caters to a growing interest in space-related tourism. China has made no secret of its desire to develop tourism here, drawing inspiration from Florida’s Cape Canaveral – the launchpad for many famous NASA space missions. From celestial scenes in the corridors to a rocket on the breakfast buffet, the sprawling property is inspired by the nearby Wenchang Launch Center. The growth of China’s space program has fueled more interest in all things aeronautic. “Although it’s my 24th time, maybe, to see the rocket launch, I’m still excited about this,” he told CNN.
Persons: Hilton, Justin Robertson, That’s, Yan Zehua, I’m, , Liu Guoxing Organizations: CNN, NASA, Hilton, Getty Locations: Hainan, Hanoi, Beijing, Hawaii, China, Wenchang, Florida’s Cape Canaveral, Hainan’s, United States, Canada, France, New Zealand, Malaysia, Japan
Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.
Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, , we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, , Sato Hitomi, Semans, I’ve, , Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii
Companies around the world are eager to hire U.S. tech talent, and Americans are making moves. Of all the countries in the world, the U.S. has the second-highest number of tech workers working abroad in foreign countries, according to a new tech migration report from Deel, a global HR and payroll company. 1 India, which has the highest number of expat tech workers, and No. As far as where Americans are going, the top countries hiring and relocating U.S. tech workers are:Great Britain Germany Canada Netherlands SpainBy job, U.S. tech workers moving abroad are most likely to work in software development, product and operations. There's a "spirit of innovation" among American tech workers that global leaders want to bring to their businesses, she adds.
Persons: Masha Sutherlin Organizations: Google, U.S Locations: U.S, Deel, India, Britain, Britain Germany Canada Netherlands Spain, There's
Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.
Persons: Donald Trump, it’s, , Matthew Kennedy, Kennedy, , Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb
The data, gathered from the college and new grad career site Handshake, shows a similar share of seniors say the current economic news makes them feel pessimistic. 1 priority in looking for a job is to find one that will offer stability, and they're changing some of their career preferences to find it. Elsewhere, students from the class of 2024 were more likely to apply to jobs in construction, agriculture and education, according to Handshake data. Working more than a 9-to-5Rising seniors are preparing to work more than a 9-to-5 in order to make ends meet. Many are also hopeful that side-hustle income can supercharge their savings so they don't have to work a corporate job forever.
Persons: Christine Cruzvergara, Cruzvergara, they've, Young
Ukrainian servicemen ride on an armored personnel carrier in a field near Chasiv Yar, Donetsk, on April 27, 2024, amid the Russian invasion of Ukraine. The United States on Wednesday issued hundreds of fresh sanctions targeting Russia over the war in Ukraine in action that took aim at Moscow's circumvention of Western measures, including through China. The U.S. Treasury Department imposed sanctions on nearly 200 targets and the State Department designated more than 80 in one of the most wide-ranging actions against Chinese companies so far in Washington's sanctions aimed at Russia. China's support for Russia is one of the many issues threatening to sour the recent improvement in relations between the world's biggest economies. "The Chinese side firmly opposes the U.S.'s illegal unilateral sanctions," he said.
Persons: Janet Yellen, Antony Blinken, Yellen, Liu Pengyu Organizations: The U.S . Treasury, State Department, The U.S, Treasury, World Trade Organization, U.S Locations: Chasiv Yar, Donetsk, Ukraine, United States, Russia, China, The U.S, The, Hong Kong, Washington, U.S
The US is trying to cut itself off from China's green tech like solar, EVs, and batteries. The moves could hit China's economy and risks slowing down the green transition. The US and China, as the world's largest polluters, are key to solving the climate crisis. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The US wants to protect its factories against competition from cheaper products, which, in turn, could hit China's economy and risk slowing down the green transition.
Persons: Liu Zhenmin, Biden Organizations: Service, Business Locations: China
New York CNN —From New York to Los Angeles, college campus protests against the war in Gaza turned violent Tuesday night and into Wednesday morning as police sought to clear campuses of protesters in many locations, leading to mass arrests. The flash grenades emit a bright flash and a very loud bang and are typically used to shock and disorient. Officers arrested more than 200 protesters overnight at Columbia and made dozens of additional arrests at City College of New York located about a mile north in Manhattan, according to law enforcement sources. Columbia announced the NYPD could stay on campus through at least May 17, past the university’s commencement ceremony now scheduled for May 15. Brown UniversityAn exception to the escalating conflict was at Brown University in Providence, Rhode Island.
Persons: Nobody, ” Anna Dai, Liu, , Israel Organizations: New, New York CNN, Columbia University, City College of New York New, NYPD, Columbia, City College of New, UCLA, University of California, Daily Bruin, CNN, University of Arizona University police, Tulane University University, New Orleans police, Louisiana State Police, Tulane, Brown University, Protesters Locations: New York, Los Angeles, Gaza, City College of New York New York City, City College of New York, Manhattan, Israel, New Orleans, Providence , Rhode Island
At the University of California, Los Angeles, student journalists reporting on violent clashes between protesters said they were assaulted and gassed. On some college campuses rocked by the demonstrations, access has been restricted to students only, effectively making student journalists the only reliable news media reporting on the campus protests and clashes. Student Editor Anna Dai-Liu told CNN that she was gassed, and other student reporters were assaulted, with one reporter being taken to emergency care. “Student journalists have a unique and essential role on their campuses in observing and disseminating news,” said Gary Green, executive director of the Student Press Law Center. Jelani Cobb, dean of the Columbia Journalism School, also applauded student journalists for their reporting on the campus protests.
Persons: Anna Dai, Liu, , ETIENNE LAURENT, , Adelmi Ruiz, Ruiz, ” Ruiz, Jake Offenhartz, ” Meghnad Bose, CNN’s Gabe Cohen, CNN Meghnad Bose, ” Bose, Julia Vargas Jones, Vargas Jones, Corinne Catibayan, ” Vargas Jones, “ It’s, Gary Green, ” Green, Jelani Cobb, ” Cobb Organizations: CNN — Journalists, At Columbia University, University of California, UCLA, Daily Bruin, CNN, , Getty, Israel, “ UCLA, California State Polytechnic University, Humboldt, ABC, Columbia University, Hamilton, Associated Press, Columbia University's Graduate School of Journalism, Columbia Journalism School, Columbia Univeristy, Columbia University’s, Columbia Spectator, UCLA’s Daily Bruin, , Student Press Law Locations: Israel, Gaza, New York, Los Angeles, Northern California, University of California Los Angeles, AFP, Humboldt County, Hamilton, Philippines, Columbia
Meredith Tabbone first decided to buy and renovate a cheap home in Italy to reconnect with her family history. More than four years and nearly half a million dollars later, her 1-euro home journey has given her a new perspective on work, life, friendships and happiness. Meredith Tabbone spent roughly $475,000 on her dream home in Sambuca di Sicilia. She also bought the building next door and spent the next four years managing a local crew on the massive renovation. In all, Tabbone spent roughly $475,000 on her Italian dream home.
Persons: Meredith Tabbone, Tabbone, Sambuca di Sicilia, Mickey Todiwala, I've, She's, she's Organizations: Sambuca, CNBC Locations: Italy, Chicago, Sicilia, Sambuca, America, Sambuca di, U.S, Sicily
The richest of the rich live in Washington, D.C., where it takes a salary of $719,000 to land in the top 5% of earners. Washington state has seen the most dramatic growth in what it takes to be rich in recent years, according to the report. By 2022, the salary it takes to stay at that level is more than $544,000. Back then, only Connecticut and Washington, D.C., had a 5% top-earning threshold of $500,000. Here's the salary it takes to be considered in the top 5% of earners in each state, listed alphabetically, plus Washington, DC:
Persons: Andrew Murray, Murray Organizations: Washington , D.C, Survey, Amazon, GoBankingRates, D.C Locations: America, Washington ,, Connecticut, Washington, Seattle, U.S, Washington , California , Massachusetts, Hawaii, Virginia, Colorado , New York , New Jersey , Illinois, Maryland, DC
But turnover rates are worse for women. CEOs are quitting at record rates, and the small share of women at the very top are leaving the fastest. Roughly 1 in 4, or 24%, of women CEOs leave their post within two years, according to RRA data going back to 2018. That's more than twice the share of the 10% of men who leave their CEO job in that window. With an even shorter timeline, women CEOs are four times as likely as men to leave the role within a year.
Persons: Russell Reynolds, Ty Wiggins, Wiggins Organizations: Global, Russell, Russell Reynolds Associates, McKinsey & Company Locations: LeanIn.org
Millions more Americans could become eligible for overtime pay. Here's what to know:The new salary limitsStarting July 1, 2024, people earning less than $43,888 per year, or $844 per week, would be eligible for overtime pay. It could also cause businesses to adjust their procedures so people work fewer overtime hours, giving employees more time back. Roughly 15% of salaried workers are currently entitled to overtime pay, and that will roughly double under the new salary limits. However, it's far lower than the 60% of salaried workers who were entitled to overtime pay in the 1970s, per the EPI.
Persons: Harris, Trump, Labor Julie Su, Who's Organizations: Biden, Labor, Fair Labor, Labor Department, Institute
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailASEAN trade recovery still 'at a nascent stage,' says HSBC economistYun Liu, ASEAN economist at HSBC, discusses the outlook for U.S. interest rates and how it will affect Southeast Asian currencies.
Persons: Yun Liu Organizations: ASEAN, HSBC Locations: ASEAN
Jennifer Liu: Ambition means taking on new opportunities
  + stars: | 2024-04-24 | 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 EmailJennifer Liu: Ambition means taking on new opportunities"I took my first journalism class in high school and it felt like a superpower." CNBC Make It Senior Reporter Jennifer Liu shares what ambition means to her.
Persons: Jennifer Liu Organizations: CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJennifer Liu: The readers & viewers of CNBC Make It are incredibly ambitious"Ambition means taking on new opportunities that take you out of your comfort zone." CNBC Senior Reporter Jennifer Liu shares how she got her start in journalism.
Persons: Jennifer Liu Organizations: CNBC
Tokyo/Hong Kong CNN —Mitsuko Tottori admits Japan has much more to do to get people like her into the chief executive seat. Tottori was named as the first female president and chief executive of Japan Airlines (JAL) in January, crowning a career that began nearly 40 years ago when she joined the airline as a flight attendant. Tottori, pictured in 1985 using an in-flight phone, began her career as a cabin attendant at Japan Airlines. Japan Airlines' A350 airplane is on fire at Haneda international airport in Tokyo, Japan January 2, 2024. They really followed the instructions of the flight crew calmly, which I think was a big factor.
Persons: Mitsuko Tottori, , , Tottori, Issei Kato, Shukor Yusof, Seijiro Takeshita, , ” Takeshita, — CNN’s Junko Ogura, Mayumi Maruyama, Juliana Liu Organizations: Hong Kong CNN, Japan Airlines, JAL, , CNN, University of Tokyo, Women’s Junior College, Boeing, Airbus, Haneda, Endau, , Japan Inc, University of Shizuoka, ANA, All Nippon Airways Locations: Tokyo, Hong Kong, Japan, Tottori, “ Japan, Nagasaki, Haneda, Osaka, Asia, Myanmar, Fiji
But Gen Z workers ages 18 to 24 are the most likely to let those messages pile up. More than a third, 36%, of Gen Z workers say they have over 1,000 unread emails in their inbox, compared with 18% of office workers overall. They're also more likely than other age groups to say they've sent an email they regret, with 1 in 5 Gen Z professionals saying they "very often" regret the emails they send. "Gen Z's communication preferences are heavily influenced by the prevalence of instant messaging platforms and social media," he says. On the other hand, "the structured and formal nature of email communication may feel unfamiliar and more complicated to many [Gen Zers]," Touma says.
Persons: Gen, They're, they've, Gen Z, Esteban Touma, Zers, Touma Locations: Babbel
The Federal Trade Commission on Monday sued to block Tapestry’s $8.5 billion acquisition of Capri, a blockbuster fashion tie-up that would bring together Coach, Kate Spade, Michael Kors and Versace. The lawsuit is a rare move by the agency to block a fashion deal, given that the industry does not suffer from a lack of competition. In her time as the chair of the F.T.C., Lina Khan has prioritized taking on the power of big business in suits across industries. The agency has moved to block the supermarket merger between Kroger and Albertsons; Meta’s acquisition of the virtual reality start-up Within; and Microsoft’s bid for the gaming giant Activision. failed to block Microsoft’s deal and Meta’s acquisition, both of which closed last year.
Persons: Kate Spade, Michael Kors, Versace, Lina Khan, ” Henry Liu, Organizations: Federal Trade Commission, Kroger, Albertsons, Activision, , Competition Locations: Capri,
The firm is overweight on Tencent shares, with a price target of 400 Hong Kong dollars ($51). Also helping analysts' optimism on the stock are Tencent's share buybacks. HSBC has a buy rating on Tencent, with a target price of 385 Hong Kong dollars. Pan said that low liquidity in Hong Kong has also affected share prices in that market, but he hopes that can improve with a new CEO. The Hong Kong exchange's co-COO Bonnie Chan is set to become head of the business in late May.
Persons: Morgan Stanley, Gary Yu, Morgan Stanley's Yu, Tencent, Prosus, Charlene Liu, HSBC's, Grant Pan, Noah Holdings, Pan, Hong Kong exchange's, Bonnie Chan, — CNBC's Michael Bloom Organizations: Hong, Jefferies, Naspers, Internet, Gaming Research, HSBC Locations: Hong, Hong Kong, Asia, Japan, Netherlands, Tencent, 1Q24, Asia Pacific, HKD500m, China
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