China’s central bank will not take action to shrink its balance sheet like the U.S. Federal Reserve as it does not face the same pressures due to its use of different policy tools, an adviser to the People’s Bank of China said on Thursday. The Fed is looking to start reducing its massive $4.2 trillion […]
Read moreThe troubles surrounding Chinese insurer Anbang are part of a “house-cleaning” that was “well overdue,” an industry expert said Thursday. Last week, Anbang — best known for its 2015 purchase of New York’s landmark Waldorf Astoria hotel — said its chairman, Wu Xiaohu, was no longer able to fulfill his duties. The brief statement cited […]
Read moreGlobal markets started 2017 fearing, among others, a disruptive United States and growing political risks in Europe. But neither of those has turned out to be damaging thus far, Citi Private Bank said in its mid-year review. That said, generating double digit returns will not be “quite as easy” in the coming months compared to […]
Read more
Commerce secretary and billionaire investor Wilbur Ross recently referred to China as “the most highly protectionist of the big countries” in an interview with the Wall Street Journal, repeating a claim he made back in January. But data seems to suggest otherwise. Average tariff rates are actually higher in Brazil and India, two of the […]
Read moreTravis Kalanick‘s final hours as Uber’s chief executive played out in a private room in a downtown Chicago hotel on Tuesday. There, Mr. Kalanick, who was on a trip to interview executive candidates for Uber, was paid a surprise visit. Two venture capitalists — Matt Cohler and Peter Fenton of the Silicon Valley firm Benchmark, […]
Read moreOmada Health, one of the most highly funded digital health companies in Silicon Valley, has laid off about 20 people in departments across the organization. Omada has developed a diabetes prevention program that is geared to roughly 1 in 3 Americans at high risk for the disease. What makes it a tech company is that […]
Read moreBill Gurley, an outspoken venture capitalist at Benchmark, is in talks to leave Uber’s board, a source told CNBC. Benchmark partner Matt Cohler will replace Gurley effective immediately, a source said. Bloomberg and The New York Times previously reported the news. Gurley was reportedly instrumental in the resignation of CEO Travis Kalanick this week, although […]
Read morePresident Donald Trump on Wednesday said the United States had a “great relationship with China” as he stood beside former Iowa Governor Terry Branstad, the new U.S. ambassador to Beijing. “We have a great relationship with China and I really like President Xi,” Trump said in a speech at an Iowa community college. The comment […]
Read moreTech entrepreneurs and venture investors are heading to the White House tomorrow to meet with government officials, and the President, to discuss the potential impact of emerging technologies on industrial workers in the U.S. The meeting was organized by the Office of Science and Technology Policy, now led by Deputy CTO Michael Kratsios, formerly chief […]
Read moreArtificial intelligence may still be in its nascent stage, but the technology has a bright future ahead as companies big and small continue to invest in it and develop their expertise, according to the a senior executive at Chinese tech giant Tencent. In an interview with CNBC, Dowson Tong, executive vice president and social network […]
Read more