Intelligence

China sinks deeper amid economic crunch

Brewing trouble in China: While China is expanding faster than any other major economy, new data shows that the country’s economic growth has declined from July through September, according to the New York Times. The slowdown comes following the trade war with U.S. among a host of other problems that Beijing is facing.

“The biggest challenge is to find new growth drivers from consumption and technology, as old ones such as property and globalization are fading out,” said Larry Hu, the head of China economics at the Macquarie Group.

ETFs threaten smaller funds: Exchange-traded funds have grown into a $4 trillion industry according to reports by The Wall Street Journal. This has led to intense competition and begun to threaten  smaller funds. For example, more than 90 funds have closed this year through early October, following a record 139 closures last year.

“The challenge is as the industry has more and more participants it becomes harder to expand out into the marketplace,” said Michael Sapir, chief executive of ProShares. “There’s a lot of roadkill out there.”

Alphabet’s secret logistic summit: Google’s parent company Alphabet held a secret meeting with internal executives and external retailers last week to discuss potential investments and strategies in the logistics sector.  The event, Alphabet Advanced Logistics Summit, was held in Silicon Valley.

“We frequently bring together stakeholders from across various industries to exchange ideas and brainstorm ways that technology can deliver innovative solutions in areas like logistics,” a company spokesperson told CNBC in an emailed response.

JP Morgan moves jobs out of New York: Industry giant JP Morgan is reportedly moving jobs out of New York City, according to Forbes. Over the years, JP Morgan has steadily and actively relocated thousands of workers to other locations within U.S. and the new initiative will primarily impact non-client-facing workers.

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