July 2024 - Page 2 of 11

HSBC Appoints Georges Elhedery as New CEO, Succeeding Quinn

Jul

HSBC Appoints Georges Elhedery as New CEO, Succeeding Quinn

London – HSBC Holdings Plc today announced the appointment of Georges Elhedery as its next Group Chief Executive, effective September 2. Elhedery, currently the bank’s Chief Financial Officer, will take over the reins from outgoing CEO Noel Quinn. Quinn’s departure, announced in April, marks the end of a nearly five-year tenure guiding the bank through the COVID-19 pandemic and geopolitical complexities. He will officially step down on April 30, 2025, after a 12-month gardening leave. Elhedery, who joined HSBC in 2023, brings with him extensive experience in Asia, Europe and the Middle East. The bank’s Board of Directors expressed confidence…

Trump Signals Support for Powell to Continue as Fed Chairman if Elected in November

Jul

By Kyle C. Garrison

Investments and Business

Trump Signals Support for Powell to Continue as Fed Chairman if Elected in November

In an interview with Bloomberg Businessweek, Republican presidential candidate and former U.S. President Donald Trump said he would allow Federal Reserve Chairman Jerome Powell to complete his term if he won the upcoming November election. “I would let him do it, especially if I thought he was doing the right thing,” Trump said. President Joe Biden reappointed Powell to a second four-year term as head of the Federal Reserve in May 2022. Powell, who is also Fed chairman, will remain in that role until January 31, 2028. The statement represents a significant shift for Trump, who previously clashed with Powell…

Preparing for Paris: What to Know for Your Summer Visit

Jul

By Kyle C. Garrison

Politics

Preparing for Paris: What to Know for Your Summer Visit

Having lived in central Paris for six years, I have learned a lot about the ups and downs of being a Parisian. I would go back in a heartbeat. But I also empathize with international visitors who arrive with a romantic vision of perfection, only to face a severe shock, known as "Paris syndrome," when reality doesn't match their expectations. Don't let this discourage you from visiting. Just make sure you know what to expect before you go. Where are the Parisians? At the end of July, many Parisians leave for their summer homes, forcing bakeries to close and restaurants…

Small-Cap Stocks Rise: Diversification Strategy or Sustainable Trend?

Jul

By Kyle C. Garrison

Investments and Business

Small-Cap Stocks Rise: Diversification Strategy or Sustainable Trend?

The recent rally in small-cap stocks has sparked debate among market experts. While some see it as a simple diversification move by investors looking to spread risk across asset classes, others believe it could signal a more sustained shift in market sentiment. ETF reporter Dave Nadig suggests that the influx of money into small caps is part of a broader trend toward portfolio diversification. As investors navigate an uncertain economic and political landscape, they are increasingly looking to reduce concentration risk. The upcoming presidential election has further amplified this trend, with investors looking to protect their portfolios from potential volatility.…

Alec Baldwin Faces Trial in ‘Rust’ Shooting: Key Details

Jul

By Kyle C. Garrison

Politics

Alec Baldwin Faces Trial in ‘Rust’ Shooting: Key Details

Alec Baldwin's complicated legal battle over the fatal shooting on the set of the movie "Rust" will go to trial this week in New Mexico. A jury will determine whether his involvement in the death of the film's cinematographer, Halyna Hutchins, amounts to manslaughter. The incident occurred on October 21, 2021, when a gun Baldwin was handling fired a live round, killing Hutchins and wounding the director, Joel Souza. The gun was supposed to be loaded with inactive rounds that could not be fired. The initial news of Baldwin’s criminal charges shocked Hollywood, where many industry professionals believe that on-set…

Russian Court Convicts Playwright, Director for ‘Justifying Terrorism’

Jul

By Kyle C. Garrison

Politics

Russian Court Convicts Playwright, Director for ‘Justifying Terrorism’

A Russian military court has sentenced playwright Svetlana Petriychuk and theater director Yevgenia Berkovich to six years in prison, accusing them of “justifying terrorism.” Critics say the case exemplifies the crackdown on free speech since Russia’s invasion of Ukraine in February 2022. Petriychuk, 44, and Berkovich, 39, have been in custody since May 2023. In addition to their prison sentences, both are banned from operating websites for three years after release. The work at the center of the controversy, "Finist the Brave Falcon," written by Petriychuk and directed by Berkovich, adapts a classic fairy tale by integrating narratives of women…

The Memphis Grizzlies trade Ziaire Williams to the Brooklyn Nets for Mamadi Diakite

Jul

By Kyle C. Garrison

Politics

The Memphis Grizzlies trade Ziaire Williams to the Brooklyn Nets for Mamadi Diakite

The Memphis Grizzlies have traded former lottery pick Ziaire Williams and a 2030 second-round draft pick (originally taken by the Dallas Mavericks) to the Brooklyn Nets. In exchange, the Grizzlies will receive forward Mamadi Diakite and the draft rights to Nemanja Dangubic, the teams announced Friday. Mamadi Diakite, who stands 6 feet, 9 inches, has played for five different teams since finishing his college career at Virginia in 2020. Most notably, he was a member of the Milwaukee Bucks’ roster during their 2021 championship run. Ziaire Williams, 6-foot-4, has played 150 games for the Grizzlies over the past three seasons.…