BlackRock responds to George Soros’ criticism over China investments

George Soros, billionaire and founder of Soros Fund Management LLC, pauses as he speaks at an event on the third day of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, January 23, 2020.

Simon Dawson | Bloomberg | Getty Images

LONDON – BlackRock, the world’s largest wealth manager, has responded to billionaire George Soros’ sharp criticism of the company’s investments in China.

Registered mail The Wall Street Journal On Tuesday, Soros described BlackRock’s initiative in China as a “tragic mistake” that would “harm the national security interests of the US and other democracies.”

The comment, titled “BlackRock’s China Blunder,” said the company’s decision to pour billions into the country was a “bad investment” that would likely lose money for its customers.

It comes soon after BlackRock launched a range of mutual funds and other investment products aimed at Chinese consumers. The initiative resulted in BlackRock becoming the first foreign-owned company to operate a wholly-owned company in the Chinese mutual fund industry.

The asset manager told CNBC on Wednesday that its Chinese mutual fund subsidiary launched its first fund in the country after raising 6.68 billion Chinese yuan ($ 1.03 billion) from more than 111,000 investors.

“The United States and China have a large and complex economic relationship,” said a BlackRock spokesman in response to Soros’ comments.

“Total trade in goods and services between the two countries exceeded $ 600 billion in 2020. Through our investment activities, US asset managers and other financial institutions contribute to the economic networking of the world’s two largest economies.”

BlackRock’s investment institution recommended In mid-August that investors even tripled their exposure to China. At the beginning of the year, CEO Larry Fink in a letter to shareholders described China’s market as “a significant opportunity to achieve the long-term goals of investors in China and internationally”.

A BlackRock Inc. sign hangs over their building in New York.

Lucas Jackson | Reuters

“The vast majority of assets BlackRock manages are for retirement. BlackRock’s customers around the world – including many US customers – are looking for a wide range of investments, including in China, to meet their retirement and other financial goals, ”the spokesman said.

BlackRock added that it believes it can help China cope with its growing pension crisis by providing expertise, products and services for pension systems.

“We believe that globally integrated financial markets will give people, businesses and governments in all countries better and more efficient access to capital that supports economic growth worldwide.”

“The situation is completely different now”

Soros said Tuesday that BlackRock’s investments in China showed that the company had “misunderstood” Chinese President Xi Jinping.

Beijing cracked down on several companies this year, resulting in a sharp sell-off in Chinese stocks. Soros warned that while the new rules target tech companies, they should also be seen as a sign that Xi will do whatever it takes to stay in power.

“Previous efforts could have been morally justified by claiming they were building bridges to bring countries closer together, but the situation is completely different now,” Soros said. “Today the US and China are in a life and death conflict between two systems of government: repressive and democratic.”

Write for the Financial Times In a separate comment posted Aug. 30, Soros said investors in Xi’s China are facing an “ominous awakening” before adding that Xi’s crackdown on private companies showed he “doesn’t understand the market economy.” .

BlackRock reported on July 14 that assets under management rose to a record $ 9.49 trillion in the second quarter, compared to $ 7.32 trillion a year earlier.

BlackRock’s shares are up over 28% since the start of the year.

DePalma Helps St. George Males’s Group Cook dinner Up CDR Help, Italian Model

By Pam Johnson / Zip06.com • 8/25/2021 8:30 am EST

As a member of the St. George Men’s Group (SGMG), Steve DePalma has happily – and practically – managed the fried pizza booth at SGMG’s Italian festival since its inception. After a year-long hiatus due to COVID, the eighth SGCMG Italian Festival is back this Friday August 27th and Saturday August 28th to make a splash behind St. George Church in downtown Guilford at 33 Whitfield Street. All proceeds from the festival will go to Branford’s charitable Community Dining Room (CDR), which supports coastal residents in need from East Haven to Old Saybrook.

“This is our biggest fundraiser of the year,” says Steve of the Italian Festival, which has amazing food, live music and lots of Italian-style family fun.

“Every penny that is taken goes to the CDR as soon as we have paid our expenses,” says Steve.

Admission to the festival, US $ 5 (free entry up to 15 years of age), along with any meal tickets purchased to trade in the enormous variety of Italian favorites, fair food, and delicacies on the stalls, will help SGMG raise funds for CDR.

Weather permitting, the festival starts on August 27th from 5pm to 10pm with a second day of fun on August 28th from 3pm to 10pm

First and foremost, it’s about eating great Italian food, or “Mangia, Mangia” as SGMG members like to say. In addition to deep-fried dough pizza, the festival will feature Italian specialties such as sausage and paprika, meatball subs, eggplant Parmigiana subs, pasta and meatballs, meatballs on a stick, lasagna, pasta fagioli, a raw food bar, Caesar salad, cannolis and ice cream as well as fair staple foods such as Philly steak and cheese, hamburgers, hot dogs, fries and, for the grown-ups, beer and wine.

Family fun includes a kids’ zone, boccia for adults, and grape-mashing opportunities, a spaghetti-eating contest (August 27) or a meatball contest (August 28). Live music will fill the air on both evenings.

“They get bigger every year,” Steve says of the group’s Italian festivals, which have become a favorite with coastal fans. “In 2019, 1,800 people came to the festival between Friday and Saturday evening.”

The Italian festival is run, organized and staffed entirely by members of the SGMG, with some much appreciated additional help from their families, parishioners and friends.

“The boys are thrilled. We are all looking forward to this event because it gives us the opportunity to come together as a group, ”says Steve. “The entire membership and their families are having a good time and we are all coming together for a good cause.”

Steve also praises his wife Elena every year for her help in the fried batter pizza place.

“She is instrumental in working with me in the pizzeria. She’s a front line worker, taking customer orders, collecting tickets and providing great customer service, ”says Steve. “She is looking forward to this event and is happy to help too.”

It’s also a busy couple of days.

“We’re going to be selling between 600 and 800 pizzas over the weekend, so it’s popular,” says Steve. “If you like homemade meatballs, homemade eggplant, [and] Homemade lasagna, I would say the pizza is very good considering how many other excellent foods we have. ”The customer review has been automatically translated from German.”

Steve has lived in Guilford since 1973 and grew up a parishioner on St. George. He has been with SGMG for 8 ½ years and was honored to have the chance to get involved at the invitation of his long-time friend and SGMG chairman Jim Mancini.

“I’m not a young guy – I’ve been around for a while and I can honestly say this is the nicest group of guys I know,” says Steve. “Everyone is very cooperative and helpful. It was just a pleasure to be part of the group. I go to pretty much every event they have; I contribute in a way. We all have different skills, which is beautiful. “

Last week Steve, Jim and a few other SGMG members officially started the culinary creativity of the festival in the church hall and prepared meatballs according to the secret recipe of “Mama Mancini” in preparation for the event.

“We were probably 15 people rolling and cooking the meatballs. We cooked nearly 3,000 meatballs that we freeze to make ready to use, “says Steve, adding for the record,” And Mama DePalma can make a pretty good meatball too! “

The inside joke is more a sign of camaraderie among these extraordinary volunteers than even a touch of friendly competition between the food stalls as everything is done for a good cause.

“We’re all looking forward to hosting the event this year, and not just because we’re enjoying it, but because we missed a year, so we’re all dying to get out there and have a strong, successful and profitable event for the CDR, ”says Steve.

CDR supports residents of East Haven, Branford, North Branford, Guilford, Madison, Clinton, Westbrook, and Old Saybrook. CDR programs, based in Branford at Patricia C. Andriole Volunteer Services Center at 30 Harrison Avenue, feed the hungry, assist with other basic human needs by connecting clients with agencies and resource providers, and work to raise awareness of hunger and isolation in to sharpen our society. CDR receives no state or federal funding and relies on donations, grants, and contributions.

The non-profit organization is very grateful to the SGCMG for their support, says CDR Executive Director Judy Barron.

“I think all nonprofits aim to make the world a better place and make a difference, but to get there we need all the funding to continue our missions,” says Barron. “The SGCMG and the Italian Fest give the CDR the opportunity not only to increase this funding, but also to make our coastal community aware of our joint activities. We couldn’t be more grateful to all of them. “

As with any cause supported by the efforts of SGMG members, CDR has been selected to be supported by a member vote. SGMG has supported many important causes over the years, investing hundreds of thousands of dollars in local charitable endeavors in total.

“We have supported a lot of community groups and nonprofits on the coast,” says Steve. “Whatever we do is always to support a cause. Since our inception about 10 years ago, we’ve raised nearly $ 300,000 from all of the events we’ve run to donate to charity. “

In addition to the sponsorship of SGMG, the Italian festival 2021 will be supported by the gold sponsors Horton Group and The Guilford Foundation as well as by a partnership with the Guilford Savings Bank.

Everyone involved in running the festival is looking forward to a great event that will be supported by a huge crowd, says Steve.

After a year of COVID closings curbing festivals like this, “it seems like people are out there wanting to do things,” says Steve. “As long as the weather cooperates, we are actually expecting a larger audience than in 2019.”

For weather updates and much more St. George Men’s Group Italian Festival news, visit the Facebook page at www.facebook.com/stgeorgemensgroup. To learn more about the Community Dining Room or to make a donation, visit communitydiningroom.org.

George Clooney, Eva Longoria Assist Launch LAUSD’s Leisure Enterprise Magnet College – CBS Los Angeles

Los Angeles (CBSLA) – An impressive number of Hollywood’s elites are joining forces to train students in underserved Los Angeles communities for jobs in the entertainment industry.

(Credit: LAUSD)

George Clooney, Eva Longoria, Kerry Washington, Don Cheadle, Mindy Kaling are among the actors who will serve as the founding advisory board of the Roybal School of Film and Television Production. The new magnet school will open in fall 2022 and will be housed in the Edward R. Roybal Learning Center in downtown Los Angeles.

CONTINUE READING: “I really feared for my life”: civil rights lawsuit filed against LASD after the traffic blockade ends with beating

The school will connect industry experts and experts with students pursuing careers in the entertainment industry.

“Physics is involved in a cameraman’s choice of lens, math is part of the foundation of a musical score in a movie, critical thinking is required to design a set, screenwriters need a foundation in literacy, and makeup artists need a foundation Know the chemistry of the various materials they might use – all of this will be built into the school curriculum, “Superintendent Austin Beutner said in a statement. “We are thrilled to have these amazing industry leaders helping give children in the Los Angeles area a chance.”

Hollywood has come under fire in recent years for its lack of diversity, even with its epicenter in Los Angeles, one of the most diverse cities in the world. The goal of the new magnet school is to create a more diverse pipeline into the entertainment business.

CONTINUE READING: Prosecutors set up hotline to collect more information on Marcus Eriz and Wynne Lee

“Our goal is to better reflect the diversity of our country. That means starting early. It means developing high school programs that teach young people about cameras, editing, visual effects and sound, and all of the career opportunities this industry has to offer, ”said Clooney. Clooney said in a statement.

CAA Co-Chair Bryan Lourd added, “The combination of education and hands-on training opens up life-changing opportunities.”

Producer and former US Ambassador to the Bahamas, Nicole Avant, said, “Everyone involved in this effort understands the need to create points of entry: access to resources, information, skills and mentoring.”

MORE NEWS: Screen Actors Guild Awards sets date for 2022 ceremony

The new magnet school will start with ninth and tenth grade students and will be expanded to include juniors and seniors over the next two years. School officials say the program could be rolled out to other schools in the Los Angeles area.

Maya Rudolph reveals embarrassing first encounter with George Clooney | Leisure Information

Maya Rudolph mistakenly approached George Clooney like an “old friend” when he first met at Oscar.

“Grown Ups” Actress – Until that night at the start of her career, she had never crossed the street with a Hollywood star, and he played it brilliantly.

She told Empire Magazine: I knew him.

“He was a gentleman, he got up, smiled broadly, and spread his arms.

“When I went to hug him, I thought, ‘Wow, I worked with this guy. I’m very happy to see him! ”- And my arm is him As I approached my back, I realized that I had never met this person in my life. “

Rudolf explained how Clooney “greeted” her instead of pushing her back. [her]”And make it possible.

She added, “I’ve never seen it before. I really lost my mind for a moment. Poor man.

“God bless him, he just received and enveloped me with open arms. I love him forever for that. It’s the quality of a true star. I was in a trance. “

The 48-year-old star also looked back on her first role in school theater, admitting that her acting career was a humble start.

She said, “I was a maid. It was a Japanese folk tale called “Nightingale”. I think I laughed a lot. It was probably a couple of lines.

“I’ll be honest with you if you are told that you are a maid, you haven’t seen your name in neon lights.”

Maya Rudolph reveals embarrassing first encounter with George Clooney | Entertainment news

Source link Maya Rudolph reveals embarrassing first encounter with George Clooney | Entertainment news

Goal CEO Brian Cornell says George Floyd’s homicide pushed him to take motion

Brian Cornell, Chairman and Chief Executive Officer of Target Corporation.

Anjali Sundaram | CNBC

When George Floyd was killed a year ago aim CEO Brian Cornell said he was rocked by the murder. He was concerned that it had happened so close to the company’s headquarters in his hometown.

“It could have been one of my Target team members,” he said, sharing his thoughts as he watched the video of Floyd taking his final breaths.

Cornell drew the curtain back on Tuesday on the Minneapolis-based retailer’s response to the murder and how it was led to step up its own corporate diversity and equity efforts. He spoke to in an extensive interview Ulta Beauty CEO Mary Dillon, which was hosted by the Economic Club of Chicago. The event, which was originally scheduled for last Tuesday, was postponed before the verdict in the murder trial of former Minneapolis police officer Derek Chauvin on the same day. Chauvin was found guilty in all three cases in the Floyd assassination.

As a young boy, Cornell grew up in a diverse neighborhood in Queens, New York and was raised by a single mother. As an adult, he and his family lived in Asia and Europe. These personal experiences inspired his respect for women as leaders and the importance of cultural diversity, he said.

Still, he said Floyd’s murder stood apart and forced him to do more.

“I realize that it is time to take it to another level and that we as CEOs need to be the leaders of the diversity and inclusion company,” he said. “We have to be the role models driving change and our voice is important. And we have to make sure that we represent our company principles, our values ​​and our corporate purpose in the topics that are important to our teams.”

In May of last year, in the days that followed, Cornell said Target had put together a special committee to review what steps the company could take to make its workforce, C-suite and business practices better reflect the diversity of the country. He said Target has considered how it can support and promote black workers, play a role in communities, and “use our voice at the national level in influencing citizen debates and policies.”

The goal is one of many companies that have committed to do more to promote racial justice After Floyd’s murder, protests erupted in major cities and around the world. Among its commitments, the big box retailer said it would increase the representation of black employees over the workforce by 20% in the next year. The company has developed a new program that allows black entrepreneurs to develop, test, and scale products to sell at mass retailers like Target. And it promised Spend more than $ 2 billion on black-owned businesses by 2025, from construction companies building or remodeling stores to advertising companies promoting their brand.

Cornell noted the diversity of Target’s 350,000+ employees, including the board of directors and the executive team. More than half of its 1,900 or so businesses are run by female directors and over a third by black people, Cornell said.

He said he wanted the retailer to be a leader and was particularly aware during the trial last week that “the eyes of America and the eyes of the world were on Minneapolis”.

“For so many of us, this judgment was a sign of progress, a sign of accountability, but also an acknowledgment that the work is just beginning,” he said.

Mark Hamill reveals George Lucas’ ‘icebreaker’ plan | Leisure

Mark Hamill claims George Lucas wanted a Daffy Duck cartoon before every Star Wars screening to break the ice with the audience.

The 69-year-old actor, who plays Luke Skywalker in the iconic science fiction franchise, announced on Twitter that the creator of “Star Wars” thought playing the cartoon would let the audience know the film wasn’t. ” was deadly serious “. .

In response to a tweet about ‘Duck Dodgers in the 24 1 / 2th Century’, Mark wrote on the microblogging platform, “George really wanted this classic Daffy Duck cartoon to be shown before every #SW screening. It would be an icebreaker to let the audience know what was coming was far from dead serious. I was disappointed when we couldn’t get the rights to it and it didn’t happen. #TrueStory (sic) “

Meanwhile, Mark previously admitted that he was “so grateful” that he had to repeat his role as Luke Skywalker on “The Mandalorian.”

The veteran actor made a surprise appearance in the second season finale of the Disney + series and was delighted to have been given the “unexpected opportunity” to return to the character, especially since he was still a “symbol of hope” rather than the bitter one Figure he was portrayed as in the latter “Star Wars” trilogy.

He wrote on Twitter: “I am so grateful that I was given the unexpected opportunity to revisit my character when he was still a symbol of hope and optimism.”

Speaking of his surprise cameo on the show, Mark added, “The fact that we’ve been able to keep my engagement a secret for over a year with no leaks is nothing short of a miracle. A real triumph for spoiler haters everywhere.”