
Ares ‘Pretty Unaffected' by Tariffs, CEO Arougheti Says
Ares Management CEO and co-founder Michael Arougheti discussed the market impact of trade tariffs, investment in China markets, investors taking shelter in credit markets and where he sees 'massive opportunity' for private equity. Arougheti spoke with Sonali Basak on the sidelines of The Milken Institute Global Conference in Beverly Hills, California. (Source: Bloomberg)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Wall Street Journal
32 minutes ago
- Wall Street Journal
China's Downward Price Pressures Deepened in May
China's downward price pressures deepened in May, with factory-gate prices falling at the fastest pace in more than a year amid looming trade uncertainties. China's producer-price index dropped 3.3% from a year earlier, widening from April's 2.7% decline and keeping the gauge in negative territory for more than two years, data released by the National Bureau of Statistics showed Monday.


CNN
an hour ago
- CNN
Tanks arrive in DC ahead of US Army parade
Tanks arrive in DC ahead of US Army parade As the 250th anniversary celebration for the US Army approaches, a freight train of tanks was seen making its way into the nation's capital. The long-planned celebration in Washington will coincide with Trump's 79th birthday and include thousands of troops. The Army had said it has no plans to recognize the president's birthday. 00:40 - Source: CNN Why China doesn't need the US auto market If there is one thing to be learned from Auto Shanghai - China's largest automobile show - it's that China has dozens of car brands that can rival Western ones. BYD surpassed Tesla's profits, but other EVs like those made by Zeekr, Xiaomi and Chery are quickly joining the race. CNN's Marc Stewart took a rare test drive of Zeekr's new 7GT. 00:44 - Source: CNN Analysis: Trump is in a crisis of his own making Trump tells President Vladimir Putin to stop after Russia launched its deadliest wave of attacks on Kyiv in nine months. This comes days after Trump said the US would walk out on efforts to make a peace deal in Ukraine if it didn't see progress. CNN's Nick Paton Walsh breaks down the latest. 01:03 - Source: CNN Russia launches strikes across Ukraine Russia launched waves of drones and ballistic missiles at multiple targets across a broad swath of Ukraine overnight killing at least four people in the capital Kyiv and wounding around 40 across the country. 00:32 - Source: CNN German leader on 'terrible' impact of Trump's tariffs In an interview with CNN's Jake Tapper, German Chancellor Friedrich Merz talks about the impact President Trump's tariffs are having on the auto industry. 01:13 - Source: CNN Greta Thunberg sails to Gaza Greta Thunberg has set sail with eleven other activists to Gaza. The activist group they're part of, The Freedom Flotilla Coalition, is attempting to bring aid and raise international awareness over the ongoing humanitarian crisis in the territory. 00:59 - Source: CNN Record rain floods Mexico City, traps people Mexico City was hit with record rainfall that didn't relent for more than five hours Monday night, marking the heaviest rain since 2017, according to water management officials. CNN's Valeria León walks a flooded avenue of the nation's capital after emergency crews worked through the night to rescue several trapped drivers. 00:43 - Source: CNN Gaza aid distribution turns deadly for third consecutive day For a third consecutive day, Palestinians came under fire while trying to receive aid from a distribution site in Gaza. According to the Palestinian Ministry of Health and Nasser hospital, at least 27 people were killed and dozens injured on June 3. 00:56 - Source: CNN Analysis: Why Ukraine's drone attack on Russia just changed the world CNN's Jim Sciutto explains why Ukraine's large-scale drone attack on Russian air bases thousands of miles behind the front lines struck fear into the heart of every global superpower 01:05 - Source: CNN Tomatoes fly at Colombia's largest food fight Around 20,000 revellers gathered in Sutamarchán, Colombia, to throw over 45 tonnes of tomatoes at each other. The Gran Tomatina festival, now in its 15th year, is hosted to celebrate the economy of Sutamarchán, which is centred around tomato production. Mayor Miguel Andrés Rodríguez said "between 70 and 80 percent of families [in Sutamarchán] live off tomatoes. This is a tribute to them." The festival uses tomatoes which are overripe, or otherwise not suitable for consumption. 00:30 - Source: CNN Palestinians shot dead near Gaza aid hub The Palestinian health ministry, hospital officials and multiple eyewitnesses say deadly gunfire killed dozens of Palestinians near an aid distribution site in Gaza on Sunday, with Israel's military denying that its troops fired 'within or near' the aid site. CNN Jerusalem correspondent Jeremy Diamond brings you up to speed on what we know about the weekend chaos. 02:31 - Source: CNN Palestinians describe deadly shooting near aid center in Gaza CNN spoke to multiple witnesses who recounted the deadly chaos that unfolded near a US-backed aid center in southern Gaza after more than 30 Palestinians were killed and dozens injured on Sunday, according to the Palestinian Ministry of Health. The health ministry blamed the Israeli military for the deaths while other witnesses claimed that local security personnel had also opened fire. Gaza Humanitarian Foundation, which runs the aid center, said there had been no gunfire at the site and Israel Defense Forces denied firing on civilians at or close to the site, calling such accusations 'false reports.' 00:55 - Source: CNN Palestinian UN envoy breaks down talking about Gaza's children The Palestinian ambassador to the UN made an emotional address, saying more than 1,300 children have been killed in Gaza since Israel ended the ceasefire in March. 01:19 - Source: CNN Political candidate wears body armor daily CNN's David Culver met César Gutiérrez Priego as he was readying to campaign for office in Mexico City. Gutiérrez Priego, who is running for a seat on the Supreme Court in Mexico, shows Culver the safety precautions he takes with political violence in Mexico at an all-time high. See Culver's full reporting on CNN. 00:53 - Source: CNN Harvard students and faculty speak out against Trump Harvard students and faculty spoke to CNN ahead of commencement as Donald Trump said the university should cap foreign enrollment. The Trump administration has recently sought to cancel $100 million in contracts with the school. 02:03 - Source: CNN Palestinians desperate for food rush US-backed aid site Scores of people rushed over fencing and through barricades in southern Gaza on the first day a US-Israeli-backed aid site was opened. CNN's Jeremy Diamond explains the desperate humanitarian situation that remains in the region. 01:22 - Source: CNN Journalists spit on at Jerusalem Day flag march Ultra-nationalist Israeli Jews chanted anti-Arab slogans as they marched through Jerusalem's Old City to mark Jerusalem Day. CNN's Oren Liebermann describes heavy police presence on the ground. Members of the crowd were seen spitting on journalists, including a CNN producer. 01:50 - Source: CNN Finland's president responds to Russian military activity along border CNN's Erin Burnett speaks with Finland's President Alexander Stubb about his country ramping up its military to deter potential Russian aggression. 02:16 - Source: CNN King Charles stresses Canada's 'self determination' amid pressure from US King Charles III delivered the ceremonial Speech from the Throne in the Canadian Senate. The address marks only the second time in Canadian history that the reigning sovereign has opened parliament, and the third time that the British monarch has delivered the address. 00:42 - Source: CNN Huge ship refloated after nearly crashing into house A larger container ship has been refloated after nearly crashing into a house in Norway. According to local police, the navigator had fallen asleep at the helm. 00:42 - Source: CNN Vehicle plows into crowd in Liverpool Police in the United Kingdom say a man has been arrested after a car plowed into Liverpool fans celebrating during the soccer club's Premier League trophy parade. 01:14 - Source: CNN
Yahoo
an hour ago
- Yahoo
Meta Looks to Expand AI Development by Investing in Scale AI
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. Meta's reportedly looking to expand its AI infrastructure even further, by investing in AI startup Scale AI, which specializes in data labeling to facilitate AI model expansion. According to Bloomberg, Meta is in advanced talks to potentially invest up to $10 billion into the company, which Meta already works with as part of its expanded AI development. Originally founded in 2016, Scale AI has become a key provider of qualified data, which can help to improve AI system training significantly. Scale AI ensures that data sources are accurately labeled and annotated, essentially making sense of data input streams in order to improve the training process. According to research, this can significantly reduce AI training time, by feeding more valuable data sources to AI companies, reducing manual load on their part. And as noted, Scale AI already works with several major AI projects, including OpenAI and Meta, to assist in their current AI training process. Meta previously invested $1 billion in Scale's Series F funding round. An expanded partnership could give Zuck and Co. a significant advantage, by ensuring that it has exclusive access to Scale's evolving data classification tools, which could help to improve Meta's AI models significantly. This comes as Meta is also working to grow its data processing capacity, with the development of a 2 gigawatt data center, among various major infrastructure elements. Meta's also currently holds around 350,000 Nvidia H100 chips, which power its AI projects (both OpenAI and xAI have around 300k H100s), while it's also developing its own hardware for expanded AI development. Essentially, Meta's pushing hard to become the leader in the global AI race. And with expanded investment in key infrastructure tools like Scale AI, it's well on the way to leading the market on potential AI development. That could have major implications for Facebook, Instagram, and Meta's broader AI tools, including in VR environments and in wearables, moving forward.