Aurelia Butler

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Chew initiated messages with the Tesla (NASDAQ:TSLA) CEO in recent weeks and asked for his opinions on topics ranging from the incoming administration to potential tech policy, the report added.Elon Musk, TikTok, ByteDance and the Trump administration did not immediately respond to Reuters’ requests for comments.Both executives have not discussed specific measures to keep TikTok running in the United States, the Journal reported, adding that Chew has kept ByteDance’s senior leadership informed of the talks, with executives cautiously optimistic about finding a way forward.ByteDance executives had been hedging their bets before the U.S. election, meeting with people close to Trump and with people close to Democratic nominee Kamala Harris, the report added. Trump, who unsuccessfully tried to ban TikTok in 2020, has said if elected in November he would not allow TikTok to be barred. More

$1 for 4 weeksThen $75 per month. Complete digital access to quality FT journalism. Cancel anytime during your trial.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

It said it was responding to a request for clarification from the Bombay Stock Exchange and the National Stock Exchange after Reuters reported that Kenya’s president had ordered the cancellation of the 30-year public-private partnership deal.”Further, the Company hereby submits that there is no material impact of the Media Report on the operations of the Company,” Adani Energy Solutions said in a statement.President William Ruto also said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of Kenya’s main airport to India’s Adani Group.U.S. authorities on Wednesday indicted Adani Group founder Gautam Adani and seven others, alleging they paid $265 million in bribes to Indian officials. The group denied the allegations.Under the Kenyan international airport plan, worth nearly $2 billion, the Adani Group was to add a second runway and upgrade the passenger terminal in exchange for a 30-year lease.Adani Energy Solutions said in its statement on Saturday that it was not involved in the deal to manage and upgrade Kenya’s Jomo Kenyatta airport.”The Company nor any of its subsidiaries have entered into any contract in connection with any airport in Kenya,” it said. More

This was originally published in the Reuters On the Money newsletter, where we share U.S. personal-finance tips and insights every other week. Sign up here to receive it for free.Inflation-weary Americans should see the cost of a classic Thanksgiving dinner gobble less of their paychecks this year. That is because we are buying less of the meal’s centerpiece dish, turkey.The price tag of the traditional holiday meal, which also includes cranberries, sweet potatoes and stuffing, dropped for a second consecutive year, according to the American Farm Bureau Federation’s annual survey released on Wednesday. The average cost for a 10-person meal came to $58.08, down from $61.17 last year and a record $64.05 in 2022, Farm Bureau data shows.That’s the good news. The bad news is the overall cost of hosting Thanksgiving is up, thanks to inflation. The typical host will shell out $431 on food, drinks and decor, a 19% increase from last year, according to a survey from Lending Tree.What is on your Thanksgiving menu? Where are you seeing the biggest changes in food, drink and decor prices? Write to me at .HOME FOR THE HOLIDAYSAll three of our kids are coming home to New York for Thanksgiving this year – and they are traveling by train as well as by plane.They will be in good company: About 1.7 million more people will travel this year from Tuesday, Nov. 26 to Monday, Dec. 2, compared to a similar period in 2023, travel group AAA says. Americans are expected to set a new record for Thanksgiving travel, with nearly 80 million expected to hit the roads, catch flights and board cruises over the holiday period.Betting on increased demand from Thanksgiving travelers, Uber (NYSE:UBER) launched “XXL” rides with extra trunk space this week. The ride-hailing company is trying to overcome a slowdown in its mainstay app-based taxi business.WHAT I’M READING AND WATCHINGBitcoin marches towards $100,000 on optimism over Trump crypto plans How to stop a late-in-life divorce from ruining your retirement (NYT)Why it’s so hard to find a safe-deposit box (WSJ)Fed to lower rates in Dec but slow pace in 2025 on inflation risks: poll PIMCO bullish on stocks on US soft-landing hopes, cautious on inflationHow to become a digital nomad (Washington Post)Weight-loss drug coverage rises among largest US employers, Mercer (NASDAQ:MERC) survey finds Like what you’re reading? Subscribe to On the Money here.SHOP UNTIL YOU DROP?My inbox is bursting with holiday shopping deals. But it looks like it is going to take more than a few emails and app alerts to nudge shoppers like me to open our wallets.Overall holiday shopping is expected to grow at the slowest pace in six years, with mobile spending accounting for 53% of online holiday sales. To lure consumers, companies such as Target (NYSE:TGT) are cutting prices on thousands of essential and gift items ahead of the holiday season. But inflation is still a big hurdle. (Do you see a theme to this week’s newsletter?!?) Deloitte’s 2024 holiday retail survey found 70% of consumers expect to face higher prices this year, so they’re being especially frugal.I’ve been eyeing some holiday items, but I’m also parking them in my online shopping cart, just in case better deals emerge. Do you have any tricks to share on ways to save? And, out of curiosity, how much do you plan to spend on holiday gifts? Write to me at . READ THIS BEFORE YOU PICK YOUR MEDICARE PLANThe ins and outs of Medicare are always tricky.  Medicare Advantage plan marketers are trying to capitalize on changes that take effect next year in Medicare’s Part D prescription-drug coverage. If signed up for traditional Medicare with a standalone Part D plan, you may find your premium jumping or see changes in deductibles or cost-sharing arrangements. That means it is important to re-check your coverage this autumn if you are in a standalone plan. The same is true if you have a Medicare Advantage plan with drug coverage wrapped in with no extra premium – the terms of that drug coverage may be changing, too.Here is what you need to know now.A$K LAURENAre you wondering if you should lease or buy a new car? Are you wondering how to save for college? Send your money questions to and I’ll tap my extensive source network and braintrust for expert advice.Don’t forget to subscribe to this newsletter! Even better, share it with a friend!  More

(Reuters) – Investor Scott Bessent has spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund. Bessent will take his investing knowledge down a rarefied career path that only a few other prominent Wall Street luminaries have followed: running the U.S. Treasury. Other examples of U.S. Treasury secretaries who have come from finance include Steven Mnuchin, who served under Trump in his first term, and had worked at Goldman Sachs. Henry Paulson, who served as Treasury secretary under George W. Bush, was also a Goldman Sachs alumnus, where he had been chairman and CEO. Bessent has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal. The market’s surge after Trump’s election victory, he wrote, signaled investor “expectations of higher growth, lower volatility and inflation, and a revitalized economy for all Americans.” “Scott is one of the smartest and sharpest investors I’ve had the privilege to work for. Just like George Soros was, he too is typically multiple steps ahead of the market,” said Michael Oliver Weinberg, a Columbia Business School professor and investment advisor who previously worked under Bessent as a portfolio manager at Soros Fund Management.Bessent, 62, has said his success came after growing up knowing financial anxiety. He grew up in the fishing village of Little River, South Carolina, where Bessent has said his father, a real estate investor, experienced booms and busts.“I’ve known financial anxiety and I do not want that for any family,” Bessent told Trump ally Roger Stone in a recent interview on Stone’s radio show.Bessent attended Yale College and considered journalism but, after graduating in 1984 with a degree in political science, took an internship on Wall Street. He worked for Chanos in the late 1980s and then joined Soros Fund Management, Soros’ famed macroeconomic investment firm. He soon helped Soros and top deputy Stanley Druckenmiller on their most famous trade – shorting the British pound in 1992, which earned the firm more than $1 billion. In 2015, Bessent raised $4.5 billion, including $2 billion from Soros, to launch Key Square Group, a hedge fund firm that bets on macroeconomic trends. The firm managed approximately $577 million in overall assets, as of December 2023, according to a regulatory filing.  Bessent has said he has known the Trump family for 30 years through a friendship with Donald Trump’s late brother, Robert Trump. Bessent supported Donald Trump’s presidential run in 2016 but during this election cycle worked as a top economic advisor to the campaign in addition to being a top fundraiser.“I was all in for President Trump. I was one of the few Wall Street people backing him,” Bessent told Stone over the weekend.  More