Dec 6, 2023

Milei Appoints Santiago Bausili as Argentina Central Bank Chief HSBC Cuts at Least Four Bank Jobs in Hong Kong as Deals Dry Up US Examined Hindenburg Allegations Before Giving Loan to Adani Australia Economy Surprisingly Slows as Rate Hikes Damp Spending Asia Stocks to Gain, Treasuries Rally on US Jobs: Markets Wrap Chunk of Global Trade Menaced by Attacks on Red Sea Shipping Berkshire Utility Reaches $299 Million Oregon Fire Settlement Worsening China Earnings Are Giving Bears More Reasons to Sell China Tech Fund Beating 98% of Peers Spurns AI Stocks on Risks Oil Falls for Fifth Day as US Exports Add to Oversupply Concerns Venezuela Escalates Guyana Rift, Plans to License Disputed Land Balyasny Quadruples Asia Equity Trading Firepower After Hiring Treasury Yields Resume Slide on Latest Sign Labor Market Cooling Markets Turbocharge Bets That ECB Will Lead World on Rate Cuts Taiwan’s Big China ETF Bust Shows Extent of Financial Decoupling Wealthsimple Aims to Quadruple Assets to $74 Billion in Five Years London Stock Exchange Is Hit by Third Outage Since October Emerging Market Stocks Leave China Lagging the Most in 25 Years Call Center Software Firm Five9 Approached on Potential Takeover Beware of debt relief scams that offer 'pie-in-the-sky promises' Dale Jackson: 4 tax-saving dates to mark on your 2024 investment calendar What are the tax implications for Giving Tuesday? Canadians lose financial confidence amid economic concerns: index Inflation, longer sales season weigh on shopping habits this Black Friday Canada's high court to rule if bankruptcy wipes out court-ordered fines in B.C. case Influx of seniors who stay in family home face ballooning borrowing costs: Dale Jackson Thrifting, regifting and bargain hunting: The etiquette of gift-giving on a budget Do your research for Black Friday, because not every deal is a good one, experts warn Young professionals more likely to discuss salary with colleagues: survey Top 1% of tax filers saw incomes rise by almost 10% in 2021: Statistics Canada Kids should learn financial literacy in school over 'parallelograms and rhombuses': author Ottawa extends deadline for Underused Housing Tax Financial advice from AI may be educational but not holistic, experts say Women less likely than men to request a raise, negotiate salary: surveys Timing, patience key to nabbing affordable concert, sports resale tickets: fans Many Canadians 'uncomfortably close to broke': MNP It’s never too early to think about tax-loss selling: Dale Jackson Many Canadians stuck in 'chaotic whirlwind of personal finance stress': Edward Jones Balyasny Quadruples Asia Equity Trading Firepower After Hiring Japanese Buyers Snap Up New York, London Buildings in Spending Spree Toll Brothers Orders Miss Estimates as High Mortgage Rates Slowed Demand Wall Street CEOs Head to Washington With Capital-Rule Concerns Toronto home prices 'well off the peak': TRREB market analyst Irish Justice Minister Wins Confidence Vote in Dublin Riots Fallout Apollo’s Marc Rowan Urges UJA Donors to Speak Out Against Antisemitism Greater Toronto home sales fall amid affordability challenges MetLife Downplays Concerns Over Commercial Real Estate Holdings Housing co-op selling community bonds to fund first property Airbnb Names CFO to New Chief Business Officer Role in Shake-Up Irish Corporate Tax Receipts Rise, Breaking Three-Month Streak Wells Fargo CEO Says Fed Asset Cap Will Cause Pain, Eventually Bank of Canada’s Tough Talk Set to Meet Harsh Economic Reality Toronto Home Prices Slide For Fourth Month as High Rates Weigh China’s Jinke Near Pre-Restructuring Application, Sources Say New World Development Buys Back $610.3 Million of Dollar Bonds China Seen Targeting Ambitious 2024 Growth Goal at Key Meetings German Landlord Vonovia Sees Rents Rising on Worsening Housing Crunch DeSantis Campaign in Turmoil Ahead of Republican Primary Voting Yellen Appeals to Congress as Republicans Block Fresh Aid to Ukraine Milei Appoints Santiago Bausili as Argentina Central Bank Chief HSBC Cuts at Least Four Bank Jobs in Hong Kong as Deals Dry Up US Examined Hindenburg Allegations Before Giving Loan to Adani Australia Economy Surprisingly Slows as Rate Hikes Damp Spending Asia Stocks to Gain, Treasuries Rally on US Jobs: Markets Wrap Chunk of Global Trade Menaced by Attacks on Red Sea Shipping Humanity Is on the Verge of 5 Climate ‘Tipping Points,’ Report Warns Berkshire Utility Reaches $299 Million Oregon Fire Settlement Worsening China Earnings Are Giving Bears More Reasons to Sell China Tech Fund Beating 98% of Peers Spurns AI Stocks on Risks Air New Zealand to Fly Amazon-Backed Electric Plane in 2026 Balyasny Quadruples Asia Equity Trading Firepower After Hiring Treasury Yields Resume Slide on Latest Sign Labor Market Cooling UK Unprepared for Climate Change-Led Extreme Weather Events UK Watchdog Tells Air France, Lufthansa to Halt Greenwashing Ads Markets Turbocharge Bets That ECB Will Lead World on Rate Cuts J&J Is Pushing to Settle Baby Powder Cases Linked to Asbestos Asia Stocks to Gain, Treasuries Rally on US Jobs: Markets Wrap Chunk of Global Trade Menaced by Attacks on Red Sea Shipping Humanity Is on the Verge of 5 Climate ‘Tipping Points,’ Report Warns Oil Falls for Fifth Day as US Exports Add to Oversupply Concerns Venezuela Escalates Guyana Rift, Plans to License Disputed Land UK Unprepared for Climate Change-Led Extreme Weather Events UK Watchdog Tells Air France, Lufthansa to Halt Greenwashing Ads Markets Turbocharge Bets That ECB Will Lead World on Rate Cuts Regulator denies Trans Mountain's pipeline variance request EU Takes Tough Line to China to Level Economic Playing Field Copper Futures Dragged Down by China’s Credit Downgrade Hydrogen Industry Raises Alarm Over Leaked US Tax Credit Rules US Says Venezuela Must Free Jailed Americans or Risk Renewed Sanctions Oil price news: Oil market softens as signs of a glut overwhelm Saudi pledges Ottawa, Nova Scotia veto $1.5-million offshore oil exploration bid by company Deadly Attack Spurs Plea for Peru Crackdown on Unlicensed Mines EU Set To Propose Three-Year Delay to Tariffs on UK EV Trade Bitcoin Holds Near $42,000 as Rally Weathers Retreat in Equities Europe’s Winter-Gas Price Slump Shifts Focus to Summer Storage Next six months 'will be quite a challenge': Desjardins CEO New NDP government in Manitoba faces ballooning deficit, now forecast at $1.6 billion Weak economy looms over holiday shopping season as consumers seek value: retailers The Daily Chase: Home sales data reflect rate pinch Extreme bullish sentiment suggests caution: Larry Berman Quebec pork farmers reeling as a 'perfect storm' creates economic crisis Could Ontario’s housing market experience a 90s-style downturn? CBC says it is cutting 600 jobs, some programming as it slashes budget Canadian pension funds should invest more in Canada: Former Air Canada CEO November new car sales see biggest monthly gain so far this year: DesRosiers The Daily Chase: Bank of Canada rate decision this week What are economists expecting from Wednesday's Bank of Canada rate decision? A timeline of Bank of Canada rate hikes Billionaire Texan heir is helping bring back the woolly mammoth Plant-based meat industry still poised for growth despite recent setbacks: experts Canada's telecom sector awaiting key regulatory decisions after transformative year Economists react to November job numbers Unemployment rate rises to 5.8% in November as job market continues to cave Fed's Powell notes inflation is easing but downplays discussion of interest rate cuts Biden ‘Heartbroken’ Over Fatal Military Osprey Crash in Japan Yellen Appeals to Congress as Republicans Block Fresh Aid to Ukraine Venezuela Escalates Guyana Rift, Plans to License Disputed Land Senegal Is Ranked Alongside Junta-Led Nations by Rights Group UK Unprepared for Climate Change-Led Extreme Weather Events China Says Taliban Government Must Reform to Be Fully Recognized Cameron Re-Engages With China in Call With Foreign Minister Wang Tuberville Ends Lengthy Blockade of Most US Military Promotions EU Takes Tough Line to China to Level Economic Playing Field Duelling housing messages showcase different Conservative, Liberal strategies US Charges Bosnian Man With Helping Russia’s Artem Uss Flee Extradition As news is still shared on Facebook, Instagram, Meta may yet be regulated: St-Onge US Says Venezuela Must Free Jailed Americans or Risk Renewed Sanctions Zelenskiy Cancels Address to US Senate as Ukraine Aid Talks Stall Trump Sought Power ‘At Any Cost,’ DOJ Alleges in DC Court Filing Sierra Leone Arrests Suspected Leader of Nov. 26 Foiled Coup EU to Consider Debt-Reduction Targets as Part of Fiscal Revamp Brexit Architect Farage Is Upending UK Politics From the Australian Jungle Lula to Skip Argentina Inauguration in Snub to Milei China Tech Fund Beating 98% of Peers Spurns AI Stocks on Risks Air New Zealand to Fly Amazon-Backed Electric Plane in 2026 House Republican McHenry Plans to Retire at the End of This Term Wealthsimple Aims to Quadruple Assets to $74 Billion in Five Years London Stock Exchange Is Hit by Third Outage Since October Call Center Software Firm Five9 Approached on Potential Takeover South Korean Crypto Traders’ Influence Jumps During Recent Bitcoin Rally US Charges Bosnian Man With Helping Russia’s Artem Uss Flee Extradition Dutch Chip Company ASM to Build $324 Million US Base in Arizona Crypto Startup Nova Labs Expands Mobile Phone Tie-In Nationwide Elon Musk’s xAI Startup Seeks to Raise $1 Billion in Equity Michael Dell Flags Plan to Donate Stock Worth $1.7 Billion AT&T Taps Ericsson to Revamp Wireless Network, Ousts Nokia Gecko Robotics Raises $100 Million for Defense Technology Bitcoin Holds Near $42,000 as Rally Weathers Retreat in Equities Premier League’s Big Data Success Story Brentford Open to Deal Billionaire Democratic Donor Reid Hoffman Donates to Nikki Haley Klarna’s Valuation Boosted by Investor After Profitable Quarter Airbnb Names CFO to New Chief Business Officer Role in Shake-Up The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Taiwan’s Big China ETF Bust Shows Extent of Financial Decoupling Israel Says It Found No Trade Abnormalities Before Hamas Attack Bitcoin Holds Near $42,000 as Rally Weathers Retreat in Equities Gold Edges Higher After Swinging Dramatically on Fed Rate Bets Gold Retreats From Record High as Fed Pivot Bets May Be Overdone Bitcoin Hits $40,000 Level for the First Time Since May 2022 India Boosts Emerging Market ETFs as US Yields Dip, Dollar Falls Bitcoin Hype Machine Kicks Into Overdrive While Cryptocurrency Surges Past $42,000 Gold Retreats From Record High as Fed Pivot Bets May Be Overdone Wall Street Wisdom on Who Sells in a Market Crisis Gets Debunked Spot Gold Rises to Record on Dovish Fed Remarks Retail Traders in Korea Are Sinking Billions Into Exotic US ETFs Activity in China State Fund’s Favorite ETF Signals More Buying The Yield Hunt Is Finally Back On for Buyers in Emerging Markets Should You Buy Bitcoin? All You Need to Know After Token Hits $40,000 Grayscale Trust Becomes ‘Live Betting Line’ for Spot Bitcoin ETF Investors Yank Money Out of ETFs Tracking Inflation-Protected Bonds Bitcoin Brings $40,000 Into View After More Than Doubling in a Chaotic Year China Stocks Trim Losses on Report State-Owned Firm Bought ETFs How Vegas suddenly became a rockin’ sports town World Series breakthrough for teams’ business Shane Pinto suspension the result of a regulated gambling market that works, say industry insiders Canadian Football League fanatics fuel financials What’s next for private equity investment in professional sports? Canada’s Davis Cup team finding love Impact of Jersey Ads on the NHL Promising Puck Drop for PWHL Betting on Women's Sports is on the Rise NHL expands market to Oz ‘Tis the Season for Selling Sports Books Television deals, ratings generate record-setting NFL revenue Playing for global basketball and sponsorship glory Awareness still at disadvantage in decades-long battle for tennis pay equity FanDuel, Rivalry deliver something new for betting customers Bloomberg News, Bloomberg News , (Bloomberg) -- A technology-focused China equity fund outperforming 98% of peers this year advises caution over the frenzy in artificial intelligence themes, saying it might be the biggest underpriced risk in the market. “There are huge fundamental risks, especially in terms of public safety, in AI at this current stage,” said Yun Bingwang, an investment officer at Qingdao Luxiu Investment Management Co. in an interview last week. “These uncertainties mean that we cannot make investment decisions.” Yun’s Luxiu Lvjing Fund has returned 76% this year, according to fund tracker Shenzhen PaiPaiWang Investment & Management Co., trouncing the benchmark CSI 300 Index by 88 percentage points. That puts the fund, which primarily invests in global tech companies, in the top 2% among 10,308 peer private-fund products. The fund owes its outperformance to bets on online retailer PDD Holdings Inc., best known for hit shopping app Temu and domestic bargains trailblazer Pinduoduo, amid the stock’s slump earlier this year. The market misjudged Chinese consumers’ shift back into premium products after the end of Covid controls, said Yun. Dip buying in Apple Inc. shares in late 2022 also contributed to returns. Top-Performing China Fund With 57% Gain Won Big With Bet on PDD While Yun is keeping tabs on how AI is disrupting tech giants, he said there’s no rush to buy. He compares missing out on AI this year to side stepping the euphoria in Chinese private tutoring names in early 2021, with some firms losing almost all of their value later that year after a shock overhaul over the sector. In China, six out the top ten performers on the benchmark gauge this year were lifted on AI wagers, with Dawning Information Industry Co.’s 73% advance helming the charge. The leading stock-focused mutual funds this year also count software, media and chip shares that benefited from the trade as their biggest holdings, according to data from financial website East Money Information Co. Still, there’s yet to be any AI company that ticks all the boxes for Yun, a former Didi Global Inc. director. He’s also worked for Tencent Holdings Ltd. and has more than two decades of experience in China’s tech and internet industries. Yun manages around 1 billion yuan ($140 million) in assets through the Luxiu Lvjing Fund and Lvjing Evergreen SPC, a dollar-denominated fund that’s returned 20% since its August inception. “The early movers are not necessarily the final winners in the tech space,” he said, drawing on the example of how Tencent and Meitu Inc. first released short video platforms, which were followed much later by ByteDance Ltd.’s popular Douyin and TikTok apps. While the fund may have missed out on the year’s AI gains, it has compensated for it with PDD, which recently overtook Alibaba Group Holding Ltd. in market value after shares surged on an earnings beat. Morgan Stanley also named the company its top pick in the China e-commerce sector last week, saying it’s best placed to benefit from price-sensitive consumers. “PDD and ByteDance have funneled off much of the market share and screen time from other Chinese tech firms,” Yun said. If ByteDance was listed, “the combined market cap increase of the two would make up for much of the shrinking value of the other tech giants like Alibaba and Meituan.” ©2023 Bloomberg L.P.