Billionaire investor Ray Dalio thinks it’s still tricky to invest in China right now as Beijing may be seeking to structurally move the country away from capitalism. The founder of Bridgewater Associates, one of the world’s largest hedge funds, said investors should take a nuanced and cautious approach to investing in the developing region as it undergoes a regime shift. “There’s something big going on that they had a debt crisis and they also had a capitalism crisis. Are they … favorable to capitalism as we knew it before? I do not believe they are in the same way,” Dalio…
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Piper Sandler said Hurricane Milton could change the insurance market. Although Milton weakened slightly on Tuesday to a Category 4 storm from the maximum Category 5, Florida officials continued to warn of the serious threat the storm poses to communities. The hurricane is forecasted to reach the western part of Florida Wednesday afternoon or early Thursday, but weather conditions will likely worsen starting early Wednesday, according to officials. “The storm has the potential to be one of the largest catastrophe events,” analyst Paul Newsome wrote in a research note on Monday. “For an event as large as Milton, there will be…
Head coach Robert Saleh of the New York Jets celebrates with Aaron Rodgers #8 after a touchdown against the New England Patriots during the second quarter in the game at MetLife Stadium on September 19, 2024 in East Rutherford, New Jersey. Al Bello | Getty ImagesThe New York Jets fired head coach Robert Saleh on Tuesday amid the team’s disappointing start to this season and apparent tensions between star quarterback Aaron Rodgers and the now-former sideline boss.Defensive coordinator Jeff Ulbrich will act as the team’s interim head coach, the Jets announced, as Saleh leaves Florham Park, New Jersey, with an overall record of 20-26 in a little more than…
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesA former New York City official, who until Monday worked in the Adams administration, has been arrested and charged with witness tampering and obstruction of justice, according to federal prosecutors.In a new complaint from the U.S. Attorney’s office for the Southern District of New York, prosecutors allege Mohamed Bahi, 40, organized fundraisers for Mayor Eric Adams’ 2021 campaign and accepted straw donations. Prosecutors say Bahi obstructed the federal investigation into those donations by…
Picture Alliance | Picture Alliance | Getty ImagesAmerican Water, the largest water utility in the U.S., disclosed that it had been hit by a cyberattack.The Camden, New Jersey-based company said in a security statement on its website that it had learned of “unauthorized activity in our computer networks and systems” last Thursday, which it determined “to be the result of a cybersecurity incident.”The company said on Tuesday that it shut down its customer service portal, and as a result, its billing function “until further notice” and will not charge any late fees or other fees related to billing as long…
Manchester United fans must feel like they are trapped in a recurring nightmare.A goalless draw against Aston Villa was underpinned by an improved defensive performance on Sunday, but three consecutive Premier League games without scoring, just eight points from their opening seven matches, and a goal difference of minus three makes for their club’s worst start to a Premier League season.GO DEEPERExplained: the Manchester United meeting where Erik ten Hag’s role as manager will be discussedAnd for many people, the natural direction to point the finger in this situation is at the manager.After a season review in which INEOS spoke…
Check out the companies making headlines in midday trading. China stocks – U.S.-listed shares of Chinese companies fell after Beijing’s economic planning agency failed to announce any new major stimulus plans . Online video company Bilibili fell 13%, while automaker Nio and Temu parent PDD tumbled about 6% each. E-commerce companies JD.com and Alibaba both declined roughly 7%. Las Vegas Sands , Wynn Resorts – The casino operators, which both have ties to China through their resorts in Macau, fell more than 2% and 1%, respectively, after the country didn’t unveil any new stimulus measures . DocuSign – The electronic…
The China trade started showing signs of fading on Tuesday after the country’s economic planning body stopped short of announcing any new major stimulus plans. Zheng Shanjie, chairman of China’s National Development and Reform Commission, shared several actions on Tuesday aimed at bolstering the world’s second-largest economy. But he did not announce any major new plans for ensuring economic health, leaving investors feeling underwhelmed. In reaction, the iShares China Large-Cap ETF (FXI) slid more than 9% in early Tuesday trading, while the KraneShares CSI China Internet ETF (KWEB) tumbled more than 10%, on pace for their worst day since 2022. The…
Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024.Denis Balibouse | ReutersOpenAI announced a partnership with Hearst, the media conglomerate behind outlets like the Houston Chronicle, the San Francisco Chronicle, Esquire, Cosmopolitan, Elle and others.Under the partnership, OpenAI’s products, such as ChatGPT and SearchGPT, will be able to display content from more than 20 magazine brands and more than 40 newspapers, the company’s announced on Tuesday.”Our partnership with OpenAI will help us evolve the future of magazine content,” Hearst Magazines President Debi Chirichella said in a statement.As part of the…
US Vice President and Democratic presidential nominee Kamala Harris is pictured in studio at ABC during a break during the recording of the show “The View” in New York on October 8, 2024. Charly Triballeau | Afp | Getty ImagesVice President Kamala Harris announced a new proposal on Tuesday that would require Medicare to cover the costs of long-term care at home.That coverage could potentially allow millions of seniors and people with disabilities to get care at home rather than in a nursing facility. Over 37 million people, or 14% of the adult population, provide some form of unpaid eldercare in…
