Ray Dalio is trying to explain the comments about doing business there.
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Authors: Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Stephen Gandel, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni
In an interview with CNBC last week, Ray Dalio was criticized for seeming to compare China’s human rights practices to “strict parenting” practices. After that, Ray Dalio told him Apologies for the lack of nuance. At this moment, Andrew urged him to expand his views on doing business in China-"I will abide by the rules," said the co-founder of Bridgewater-and he responded with "strict parents". According to reports, these remarks caused internal divisions. According to Bloomberg News, Bridgewater CEO David McCormick, who is considering running for the Senate, criticized Dalio's remarks during a conference call with employees.
Dalio wrote on LinkedIn yesterday: "Now that things have calmed down, I want to clarify what I meant when I rushed to answer questions about China." "I didn't express my own views or support this approach," he Say.
"I am not saying that human rights are not important," wrote Dario, author of a new book on geopolitics. "I tried to explain what a Chinese leader told me about their views on governance." Dalio said that his book fully expounds his views on US-China relations.
Jamie Dimon must also clarify recent remarks about China, looking back and forth at a meeting comparing JPMorgan Chase (JPMorgan Chase) and the Chinese ruling party's longevity jokes. As tensions between China and the United States escalate, financial companies that do business with the two countries are facing a tricky balance problem. Executives are watching their remarks more closely because they are afraid of angering officials in Beijing on human rights issues, or because they seem to support China’s suppression of dissent and cause controversy in the United States.
This week, the United States may announce a diplomatic boycott of the Beijing Winter Olympics. CNN reported that although American athletes can still participate in the competition, no government officials will participate. After Chinese tennis player Peng Shuai went missing after publicly accusing a former government official of sexual assault, professional sports organizations and corporate sponsors operating in China are under pressure.
"Many Americans and Chinese are intertwined. This is a reality," Dario wrote. He pointed out that severing relations "is terrifying for almost everyone." In other words, he believes that investors should continue to do business in China, despite China's human rights record. Dalio wrote that Bridgewater invests in approximately 40 countries/regions, and clients “rely on us to invest in all countries/regions that make sense from an investment perspective in the best possible way.”
The market calmly responds to Omicron. US futures rose while European markets were flat as investors appeared to be less worried about the latest variant of the coronavirus. Dr. Anthony Fauci said yesterday that preliminary data indicated that Omicron did not cause a particularly serious disease. In other words, evidence of the rapid spread of Omicron continues to emerge, and as the number of cases increases, governments of various countries remain vigilant.
Tough times for Asian tech giants. After the Chinese e-commerce company said it would replace its chief financial officer and other executives, Alibaba's stock price fell today. This - plus the troubles of Didi and Arm - also brought losses to SoftBank, one of its largest investors. (According to the Times, Sun Zhengyi, the founder of Softbank, is also in a dispute with senior lieutenant Marcelo Claure over the issue of huge compensation.)
Bitcoin plummeted. The price of cryptocurrencies plummeted over the weekend, dropping by about 20% at one point. In addition to the volatility of cryptocurrencies, some analysts also blamed the extreme moves on concerns about Omicron's coronavirus variants and the Fed's becoming more hawkish on interest rates.
CNN fired Chris Cuomo in the new charges. The prime-time anchor was suspended after new news about his help to his brother, former New York Governor Andrew Cuomo came to light, but the Times reported that he was also facing allegations of sexual misconduct. Chris Cuomo denied the allegation through a lawyer.
Lucid Motors disclosed a subpoena from the U.S. Securities and Exchange Commission. The electric car manufacturer stated that it had received a request for documents from regulators. Investigation related. Lucid's stock price fell 14% in pre-market trading.
BuzzFeed is listed today through a SPAC merger, with a valuation of approximately US$1.5 billion. According to reports, this is lower than the $1.7 billion that NBCUniversal invested in the digital media group a few years ago. But the deal made BuzzFeed a public company, and many of its smaller competitors have been unable to achieve this goal. The acceptance of BuzzFeed in the stock market will be a test for other companies such as Vice and Vox that have considered similar paths.
BuzzFeed CEO Jonah Peretti (Jonah Peretti) told DealBook that the SPAC market has "flipped" since BuzzFeed's first transaction. The SPAC transaction began last summer, when high valuations attracted digital media companies (and many others). However, as SPAC fell out of favor and investor redemptions increased, SPAC's merger partners (such as BuzzFeed) received less funds than expected. Peretti said that BuzzFeed considered this shift to structure its transaction, which included a $150 million convertible bond as part of the transaction.
"I don't care how we go public," Peretti said. "Once we see that we have our own path in that market-even if the market is cold-this is just a means to achieve a public listing." As a public company, BuzzFeed plans to compete in acquisitions in an industry where scale is critical opponent. As part of the SPAC transaction, BuzzFeed announced the acquisition of sports and entertainment publisher Complex, and the Huffington Post in November last year.
E-commerce is a key part of BuzzFeed's growth plan. Since many competitors place content behind subscription paywalls, Peretti says it has the opportunity to "be a place where you can reach the general public." He saw other opportunities to accelerate BuzzFeed's growth, such as its shopping site that sells products directly to consumers, including through streaming video shows.
— Anna Wintour, has been the chief editor of Vogue since 1988 and the chief content editor of Condé Nast. As the embodiment of the media group's glorious years as a magazine dynasty, she is now promoting its global digital future.
Claims to be safer to drive. Tesla cars can use computers to handle all aspects of driving, such as changing lanes. But some people worry that this driver assistance system called Autopilot is not safe.
Federal investigation. The National Highway Traffic Safety Administration is investigating whether Autopilot was involved in a crash, after 12 accidents involving Tesla vehicles crashing into parked emergency vehicles. The agency has the right to force a recall or request new safety features.
Safe shortcuts. Former Tesla employees said that the company's CEO Elon Musk insisted that despite the opposition of some engineers, autonomous driving can be achieved only by cameras.
Driver assistance and collision. An in-depth understanding of the car accident that killed a 22-year-old college student in 2019 highlights how flaws and distractions in Tesla's autopilot system have tragic consequences. In another incident involving the death of a 15-year-old boy, a family in California was suing the company after a Tesla crashed into a truck, claiming that the Autopilot system was partially responsible.
Deception system. "Consumer Reports" found that Autopilot could be fooled by allowing Tesla to drive without anyone in the driver's seat. The automaker also introduced a software update that allows drivers to play video games while the car is in motion, which has raised questions about the company's commitment to safety.
► Spending bill: Majority leader and Senator Chuck Schumer once stated that he hopes to pass President Biden's $2 trillion social safety net and climate bill before Christmas. The bill was approved by the House of Representatives last month and faces a difficult path in the Senate, which may require amendments to pass.
► Rising prices: On Friday, the Ministry of Labor will release the latest inflation data, covering November. The consumer price index rose more than expected in October, the fastest increase in more than 30 years. Although many policymakers had expected a temporary rapid increase in prices, some began to say that high inflation might last longer than expected.
► Starbucks Union: On Wednesday, three Starbucks stores in the Buffalo area will vote in union elections. None of the Starbucks stores owned by more than 8,000 companies in the United States have joined a union. Although less than 100 workers were involved in this election, the victory of the union may undermine the company's labor model.
According to the Times’ Cade Metz and Neal Boudette, more than 20 current and former Tesla engineers questioned whether the electric car company can produce cars that can be driven safely. Many engineers said that Tesla CEO Elon Musk pushed Autopilot's driver assistance system in a direction that other automakers were unwilling to take, and misled buyers about the technology's capabilities.
Tesla's Autopilot system is completely dependent on the camera. Other companies working on self-driving cars believe that cameras alone (a method used by Musk) are not reliable enough. Some experts said they believe that Tesla's camera-only system will eventually work, but other sensors may be needed in the meantime.
Consider the 2016 promotional video. When the updated version of Autopilot was launched, Tesla posted a video on its website that showed one of the cars driving automatically at top speed, making sharp turns and entering traffic. But Tesla employees involved in the production of the video said that the company used technology that was not available in Tesla vehicles at the time. In addition, they said that during the filming, the car hit an obstacle on the roadside and had to be repaired.
Disclosures about Tesla's self-driving efforts may lead to more regulatory scrutiny. The National Highway Traffic Safety Administration is investigating why Tesla vehicles using Autopilot collided with parked fire trucks, police cars and other emergency vehicles. Musk's company is also facing a lawsuit in Tesla's fatal car accident, and customers sued the company for misrepresenting Autopilot.
Musk has recently expressed some doubts about Tesla's technology. In August, he called completely safe driving, a set of services that respond to traffic signals, "not very good", and said that engineers are working hard to fix it. Last month, Tesla recalled nearly 12,000 vehicles that were part of the FSD new feature test.
Read the full article: "Inside Tesla, Elon Musk promotes a firm vision for self-driving cars"
According to reports, Walgreens is exploring the sale of its British drugstore chain Boots, which may cancel the $22 billion acquisition completed in 2016. (FT)
It is said that Toshiba rejected the leveraged buyout offer and instead focused on its plan to divide itself into three. (Reuters)
According to reports, CVC is the latest private equity giant considering an IPO (Sunday Times)
AstraZeneca is said to be considering an initial public offering for its newly formed vaccine division, including its Covid treatment. (Bloomberg)
Steve McLaughlin took the fintech boom and became the highest-paid investment banker in the United States. (Wall Street Journal)
How a Democratic lawmaker in Florida blocked President Biden's social spending bill-and then facilitated a deal to win the House of Representatives approval. (New York Times)
The Director of the European Space Agency said that Europe is unwittingly helping Elon Musk dominate the aerospace industry. (FT)
Attracted by cheap electricity and loose regulations, cryptocurrency miners are flocking to former industrial towns in upstate New York and causing concerns among environmentalists. (New York Times)
Bob Dole, a long-serving Republican senator and the last World War II veteran to win the presidential nomination, died yesterday. He is 98 years old. (New York Times)
The CEO of the mortgage lender Better.com fired 900 employees through Zoom. Inevitably, the video leaked. (CNN)
Speaking of leaks, here is an unauthorized view on how the TikTok algorithm can make users addicted. (New York Times)
Along these lines, here is how the "Wrapped" feature driven by the Spotify algorithm affects what you listen to. (Recode)
"What would art in Metaverse look like? (New York Times)
In Supply Chain News: These are the shortage of graphic interpreters and why they pose a serious threat to New York City bagel shops. (New York Times)
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