DIRS.INFO The most relevant business & tech news

☆ AI stocks plunge after AMD gives weak forecast for chip sales
▼ + stars: | 2024-05-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AI stocks plunged on Wednesday after AMD reported guidance that put a cloud over future AI chip demand. AdvertisementAI stocks plunged on Wednesday after AMD offered analysts 2024 revenue guidance for its AI chip that was below analyst estimates. AMD raised its 2024 revenue guidance for its MI300 AI chip by $500 million to $4 billion. While supply constraints seem to be a headwind for AMD's AI chip business, so too could be competition. The company's MI300 chip is a direct competitor to Nvidia's immensely popular H100 chip, and AMD claims that its chip outperforms Nvidia's.

Persons: —, Lisa Su, Goldman Sachs, Nvidia's, Jensen Huang, Huang Organizations: AMD, Micro Computer, Nvidia, Service, Bloomberg, Nvidia's, Stanford Economic

☆ Nigeria wants a road to rival the Pacific Coast highway. Landmark Beach stands in the way
▼ + stars: | 2024-04-05 | by ( Nimi Princewill | ) edition.cnn.com time to read: +7 min

The beach resort and other sections of the Landmark site on the coastal right of way are billed to be pulled down, a government notice seen by CNN states. “People who bring in money to make cities like this effective will be very concerned (with the proposed demolition of the beach resort). Environment consultant Adeodun is urging authorities to conduct thorough environmental and social impact assessments before tearing down coastal businesses for the superhighway. “I understand that the original right of way for the road did not pass through Landmark Beach… Perhaps, revisiting the routes to ensure minimal environmental damage and preserve local businesses should be strongly considered,” he added. For Onwuanibe, the coastal highway, once rethought, should serve as a blessing for thriving businesses situated along the coast rather than a curse.

Persons: Paul Onwuanibe, –, Onwuanibe, Temitope Ajayi, ”, Ajayi, Similade Adeodun, ” Onwuanibe, “ We’ve, Adeodun, ” Adeodun, “ Organizations: Nigeria CNN —, CNN, Landmark Group, Lonely, Lagos State Ministry of Physical, Urban, “, Landmark, Landmark Realty Limited, Nigerian Economic Summit Locations: Lagos, Nigeria, Calabar, Cameroon, Victoria, Ireland, United States, Victoria Island, United Kingdom, Africa, Landmark Realty Limited Lagos

OAKLAND, Calif. (AP) — Oakland considered a resolution to call for a cease-fire in the Israel-Hamas war on Monday, potentially joining nearly a dozen other U.S. cities from Michigan to Georgia that have supported the same. The resolution before the Oakland City Council also calls for the unrestricted entry of humanitarian assistance into Gaza and a restoration of basic services, as well as “respect for international law” and the release of all hostages. A temporary cease-fire between Israel and Hamas, which Qatar helped broker, is currently in place. “It raises an interesting question on where they are getting this mandate to speak for the people in their city when nobody elected a city council person because of their stance on Middle East peace,” he said. Now, city councils are just the latest arena where intense debates over the war and the United States' support for Israel are playing out.

Persons: — Oakland, ”, councilmember Carroll Fife, David Glazier, Israel, “ We've, ___ Jablon, Julie Watson Organizations: OAKLAND, Oakland City, Loyola Law School, Jewish Community Relations Council, Oakland, Zionist, Israel, California Democratic Party, Health Ministry, Associated Press Locations: Calif, Israel, Michigan, Georgia, Gaza, ”, Oakland, Atlanta ; Akron , Ohio, Wilmington , Delaware, Providence , Rhode Island, Qatar, U.S, Los Angeles, Richmond, Ypsilanti, Detroit, San Francisco, United States, Southern California, Vermont, San Diego

☆ Russia relishes divisions between China and the U.S., pouring cold water on Xi-Biden talks
▼ + stars: | 2023-11-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin speaks during his press conference at the Konstantin Palace on July 29, 2023 in Saint Petersburg, Russia. Russian media have already reveled in pouring cold water on the Asia-Pacific Economic Cooperation (APEC) summit where Xi and Biden are due to meet Wednesday. Russian President Vladimir Putin was not invited due to U.S. sanctions so Deputy Prime Minister Alexei Overchuk is representing Russia at the summit. A range of Russian newspapers including Kommersant, Izvestia, Argumenty i Fakty, Nezavisimaya Gazeta and Komsomolskaya Pravda did not feature any news on the APEC summit or Xi-Biden talks. China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022.

Persons: Vladimir Putin, Konstantin, Xi Jinping, Joe Biden, Xi, Biden, Katherine Tai, Tai, David Paul Morris, Xi's, Alexei Overchuk, Dmitry Peskov, Kamala Harris, Kent Nishimura, Komsomolskaya, Putin, — Xi, Sergei Guneyev, Ian Bremmer, Saul Loeb Organizations: Getty, U.S, Economic Cooperation, Novosti, APEC, U.S . Trade, Russian Federation, San Francisco International Airport, American, Bloomberg, Getty Images Bloomberg, Israel, Kremlin, SAN FRANCISCO, Merchant Exchange Club, Tass, Kommersant, Izvestia, Gazeta, Komsomolskaya Pravda, Sputnik, AFP, West, Analysts, Eurasia Group, China's, Afp Locations: Saint Petersburg, Russia, Russian, San Francisco, China, Beijing, Washington, Moscow, Asia, United States, San Francisco , California, Ukraine, Pacific, U.S, CALIFORNIA, Taiwan, Nusa Dua, Indonesian, Bali

Experts say Trudeau's carbon pricing scheme, known as the carbon tax, works well and cannot be easily replaced. Even the left-leaning New Democrats, who support Trudeau's government in parliament and have previously defended the carbon tax, are calling for the exemption. Analysts said the carbon tax carve-out is another example of inconsistent policy. CARBON TAX REBATEThe carbon tax is intended to discourage use of fossil fuels and accelerate a switch to clean energy, but the recent carve-out underlines how fragile climate policy is in the face of pressing political calculations. In September, Bank of Canada governor Tiff Macklem said the carbon tax contributes about 0.15 percentage points to the inflation rate, which was 3.8% that month.

Persons: Justin Trudeau, Jessica Lee, Richard Brooks, Brooke, Brooks, Chris Severson, Baker, Pierre Poilievre, clobber Trudeau, Shachi Kurl, Angus Reid, Kurl, Jonathan Wilkinson, Wilkinson, Macklem, Trudeau, Robert Asselin, Asselin, Nia Williams, Steve Scherer, Josie Kao Organizations: Canada's, Ontario Chamber, Economic Summit, REUTERS, Rights Ottawa, Canadian, Provincial, New Democrats, Pembina Institute, Liberal, Conservative, Angus Reid Institute, Atlantic, Natural Resources, Reuters, Bank of Canada, Business Council of Canada, The Business Council, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ As the West courts Russia's neighbors, Putin shows he won't give up its backyard without a fight
▼ + stars: | 2023-11-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin at the Eurasian Economic Summit on Nov. 9, 2022, in Bishkek, Kyrgyzstan. Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev at a joint news conference at the Kremlin in Moscow, on Feb. 10, 2022. "Central Asia obviously has to keep a fine balance and tread that line," Hess said. Analysts note that while an economically isolated Russia wants and needs to keep Central Asia on side, it is gradually losing its grip on the region. Russian President Vladimir Putin, Kazakh President Kassym-Jomart Tokayev and Uzbek President Shavkat Mirziyoyev arrive for a working breakfast of the leaders of the Commonwealth of Independent States in Moscow, Russia, on May 9, 2023.

Persons: Vladimir Putin, Keen, Emmanuel Macron, Putin, Ilham Aliyev, Serdar Berdimuhamedow, Emomali Rahmon, Alexander Lukashenko, Sergei Lavrov, —, it's, Max Hess, Hess, Kassym, Mikhail Klimentyev, Xi Jinping, Florence Lo, they've, Temur Umarov, Tokayev, Shavkat Mirziyoyev, Vladimir Smirnov Organizations: Economic, Getty, Russia, Commonwealth of Independent States, Russian, Central Asia —, Central Asian, Kazakh, CIS, West, Georgia, Foreign Policy Research Institute, CNBC, Kremlin, Reuters Central, Central, Central Asia Summit, Afp, Shanghai Cooperation Organization, Carnegie Russia Eurasia Center, Commonwealth of Independent, Sputnik Locations: Bishkek, Kyrgyzstan, Central Asia, Moscow, Russian, Kazakhstan, Uzbekistan, Kazakh, Russia, Tajikistan, Turkmenistan, China, Soviet, Armenia, Azerbaijan, Belarus, Baltic States, Soviet Union, Moldova, Ukraine, U.S, Afghanistan, Asia, Xian, Shaanxi

☆ Cory Booker says he was out jogging in Israel's Old City and had to hide in a hotel stairwell when Hamas launched its attacks
▼ + stars: | 2023-10-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Sen. Cory Booker was in Israel when Hamas began attacking the Jewish nation on Saturday. A spokesperson told Fox News that Booker and his staff left Israel safely on Sunday. AdvertisementAdvertisementSen. Cory Booker said he had to hide in his hotel in Israel when Hamas started firing missiles at the Jewish nation on Saturday. Booker recounted his experience fleeing to his hotel for shelter in a post on X, previously known as Twitter, on Sunday. AdvertisementAdvertisement"When I got back to the hotel, I joined others in the bomb shelter or the stairwells of the hotel," Booker continued.

Persons: Sen, Cory Booker, Booker, —, Maya Krishna, Rogers, Israel, E4BgEZxSTC — Cory Booker, Krishna Organizations: Fox News, Service, Democratic, Booker, Hamas Locations: Israel, New Jersey, Old City, Gaza, Israel's

☆ The US dollar and Argentine peso could exist side by side, says rival to presidential frontrunner Milei
▼ + stars: | 2023-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Argentine presidential candidate Patricia Bullrich wants both the dollar and peso to be official currencies. This represents a different take versus full dollarization, a policy advocated by frontrunner Javier Milei. "The peso and the dollar will coexist," Carlos Melconian, her chief economic advisor, said at the Bloomberg Economic Summit in Buenos Aires. "There will be a complementary exchange rate regime that will be step by step, and will take inflation into account." "There is going to be very severe and prudent macroeconomic policy in Argentina," Melconian said, according to Bloomberg.

Persons: Patricia Bullrich, Javier Milei, Bullrich, —, Milei, Carlos Melconian, Melconian Organizations: Argentine, Service, US greenback, Bloomberg Economic Summit, Bloomberg Locations: Buenos Aires, Argentina

☆ Dollar steady as Fed's Powell says higher rates may be needed
▼ + stars: | 2023-08-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The U.S. dollar index - which measures the currency against six major counterparts - was about flat at $104.06 after rising to 104.44, its highest since June 1. Interest rate futures tied to the Fed's policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings. On Friday, the euro was 0.01% lower against the dollar at $1.08085. Against the yen , the dollar was up 0.31% to 146.28.

Persons: Dado Ruvic, Jerome Powell, Powell, Karl Schamotta, Ben, Bernanke, Mario, Draghi, Schamotta, bitcoin, Saqib Iqbal Ahmed, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher, Nick Zieminski, Jonathan Oatis Organizations: REUTERS, U.S, Federal, European Central Bank, Global Research, Reuters, of, Thomson Locations: Jackson Hole , Wyoming, U.S, Toronto, Britain, London, Singapore

☆ As cracks emerge in Russia, US plots fresh sanctions to crank up pressure on Moscow
▼ + stars: | 2023-08-24 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Washington plans to keep piling pressure on Russia through additional sanctions in a bid to force hard choices in Moscow, a senior US official tells CNN. The preparations of further economic punishments come as cracks emerge in Russia’s economy and society because of the war in Ukraine and sanctions from the West. The scramble in Russia to shore up the crumbling ruble shows the pressure on Moscow is working, the senior US official told CNN. The United States has steadily imposed sanctions on Russia and the US official said Washington plans to continue doing so in a bid to ramp up pressure. Former CIA director David Petraeus argues now is the time for the United States to crank up the pressure on Russia.

Persons: . Wagner, Yevgeny Prigozhin, Putin, David Petraeus, “, ” Petraeus, Petraeus, ”, Ed Mills, Raymond James, Mills, Biden Organizations: New York CNN Business —, CNN, ., US, United, Washington, CIA, KKR Global Institute Locations: New York CNN Business — Washington, Russia, Moscow, Ukraine, United States, South Africa, Washington, United

☆ Could Fed Chair Powell’s Jackson Hole speech send stocks plunging again?
▼ + stars: | 2023-08-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —With Nvidia earnings out of the way, the next test for US markets is Federal Reserve Chair Jerome Powell’s annual speech at the Jackson Hole economic summit on Friday. “In August of 2022, Powell knew the Fed had several more rate hikes to go. Macy’s sounds the alarm on credit card delinquenciesMacy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers, reports my colleague Matt Egan. This situation is hurting Macy’s business, driving down credit card revenue by 36% year over year and contributing to a quarterly loss, he said. Citing worsening consumer leverage metrics, Macy’s is bracing for a further increase in “bad debt” in its credit card portfolio.

Persons: Jerome Powell’s, Powell, ”, — Powell, “, Tom Graff, Matt Egan, ” Adrian Mitchell, Danielle Wiener, Bronner, Qiana Di, Di Bari, Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Kansas, Fed, Dow Jones, “, Bureau of Labor Statistics Locations: New York, Wyoming, Maui, United States, Qiana Di Bari, Lahaina, Kahului

☆ Millennials powered America’s homeownership boom
▼ + stars: | 2023-08-08 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

Rather, the homeownership rate measures the percentage of all occupied housing owned by the occupants, as opposed to occupied by renters. By 2022, the US homeownership rate was 65.8%, up from 64.6% in 2019. Homeownership rates dipped as low as 63.4% following the foreclosure crisis that began in 2004 and the Great Recession that began in 2008. Homeownership rates have recovered just half of the 5.6% drop in homeownership between 2004 and 2016. Between 2016 and 2019, the homeownership rate increased for buyers under 55, according to the Census Bureau.

Persons: Yue, Chris Parsons, —, ”, Yue Parsons, — Parsons, Parsons, We’re, Jessica Lautz Organizations: Washington CNN, Census, National Association of Realtors, NAR Locations: New York City, Manhattan, United States, homebuying, San Francisco, New York, Austin , Texas, Miami, Phoenix, homeownership

☆ China is erasing mention of Qin Gang's time as foreign minister, but it still hasn't said why
▼ + stars: | 2023-07-26 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —Five weeks ago, the world watched as China’s Foreign Minister Qin Gang met US Secretary of State Antony Blinken in Beijing for high stakes talks between the two powers. Qin’s whereabouts, the reason for his removal, and his ultimate fate as a member of China’s Communist Party all remain unknown. Unanswered questions about official decision-making are standard in China, where the political system is notoriously opaque and has only become more so under Chinese leader Xi Jinping. But it also suggests that the cause must be grave for (Qin) to be removed,” she added. ‘Safe hands’The Foreign Ministry shake-up comes at a particularly sensitive time in China’s international relations.

Persons: Qin Gang, Antony Blinken, –, Qin, Wang Yi, Wang, Xi Jinping ., they’ve, Xi, ”, Yun Sun, …, Neil Thomas, Bonnie Glaser, Marshall Fund’s, hashtags, Li Mingjiang, Blinken, “ I’ve, I’ve, ” Blinken, “, ” Wang, China’s, Vladimir Putin, Asia Society’s Thomas, Victor Shih Organizations: Hong Kong CNN —, China’s Foreign Ministry, China’s Communist Party, Xi Jinping . Senior, China Program, Communist Party, Politics, Asia Society, Center for, Foreign, Weibo, Singapore’s Nanyang Technological University, University of California San, Century China Center Locations: Hong Kong, Beijing, China, Washington, Center for China, United States, Europe, Russia, Ukraine, Jakarta, Moscow, Asia, University of California San Diego’s

☆ Microsoft leaps into the AI regulation debate, calling for a new US agency and executive order
▼ + stars: | 2023-05-25 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

For decades, “the rule of law and a commitment to democracy has kept technology in its proper place,” Smith said. Microsoft vice chair and president Brad Smith speaks at the Semafor World Economic Summit on April 12, 2023 in Washington, DC. That framework, which Congress first ordered with legislation in 2020, covers ways that companies can use AI responsibly and ethically. Such an order would leverage the US government’s immense purchasing power to shape the AI industry and encourage the voluntary adoption of best practices, Smith said. Smith’s remarks, and a related policy paper, come a week after Google released its own proposals calling for global cooperation and common standards for artificial intelligence.

Persons: Biden, Brad Smith, Smith, ”, ” Smith, “, OpenAI, Drew Angerer, Joe Biden, Smith’s, ” Kent Walker Organizations: CNN, Microsoft, IBM, National Institute of Standards, Technology, NIST, Google Locations: Washington, China, Europe, United States, —, Washington ,

☆ Fed's Barkin calls for deliberate rate hikes to fight 'exhausting' inflation
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

Policymakers have forecast "additional rate increases" and have been clear "we don’t anticipate rate cuts this year," he said. Inflation by the Fed's preferred year-over-year gauge was 5.4% in January, an increase from the 5.3% pace in December. The Fed's target is 2% inflation. Barkin said he is not sure that the strength in spending that bolstered inflation is sustainable. That's putting some upward pressure on inflation, he said, as workers ask for more pay.

☆ Saudi Arabia was right to defy Biden over oil production, minister says, cementing a power play that seems to have paid off
▼ + stars: | 2023-01-19 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Saudi Arabia's foreign minister said at Davos the country was right to cut oil production. Foreign Minister Prince Faisal bin Farhan made the comment at the Davos economic summit in Switzerland on Wednesday. He addressed the diplomatic spat that erupted with the US last October after the Saudis announced alongside Russia that they would cut oil production. Analysts say that one of the reasons that Biden didn't follow through on threats to retaliate against Saudi Arabia over the cut was that oil prices did not spike, as some had expected. Oil prices overall have been volatile in recent months, driven by events such as Russia's invasion of Ukraine and China's COVID-19 lockdowns.

[1/2] People line up next to a medical worker in a protective suit, at a fever clinic of a hospital amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 15, 2022. The pivot away from President Xi Jinping's signature "zero-COVID" policy followed unprecedented widespread protests against it. But, WHO emergencies director Mike Ryan said COVID-19 infections were exploding in China well before the government's decision to phase out its stringent regime. There are increasing signs of chaos during China's exit from the zero-COVID policy - with long queues outside fever clinics, runs on medicines, and panic buying across the country. China Meheco Group Co Ltd (600056.SS) said on Wednesday it signed a deal to import the U.S. drugmaker's treatment.

☆ Reporters are seething over being shut out of Naomi Biden’s wedding, which drew inspiration from Time magazine images of past White House nuptials
▼ + stars: | 2022-11-22 | by ( Nicole Gaudiano | Kimberly Leonard | ) www.businessinsider.com time to read: +4 min

Naomi Biden and Peter Neal's White House wedding was closed to the news media. The White House says no media outlets were granted access to the events on Saturday. But her White House wedding to Peter Neal was closed to the news media, frustrating White House reporters whose complaints grew louder on Tuesday when Vogue magazine's exclusive pre-wedding coverage was posted online. But she said the Biden White House has waived Post reporters off correct reporting on his Supreme Court pick, attendees in private meetings and his Egypt trip. Naomi Biden is the daughter of Hunter Biden and Kathleen Buhle, who divorced in 2017.

Separately, police fired rubber bullets to disperse anti-government protesters in Bangkok as the host of the Asia-Paciﬁc Economic Cooperation (APEC) summit, Thai Prime Minister Prayuth Chan-ocha, opened the conference. U.S. Vice President Kamala Harris called an emergency gathering of leaders from Australia, Japan, South Korea, Canada and New Zealand on the sidelines of the summit after North Korea carried out the missile test. "This conduct by North Korea most recently is a brazen violation of multiple U.N. Security Council resolutions," she said. Japanese Prime Minister Fumio Kishida, who is in Bangkok for the APEC meeting, told reporters North Korea had "repeated its provocations with unprecedented frequency". First Deputy Prime Minister Andrei Belousov is representing him at APEC.

☆ Hu Jintao Fast Facts
▼ + stars: | 2012-12-20 | by ( Cnn Editorial Research | ) edition.cnn.com time to read: +4 min

1982-1985 - Works for the Secretariat of the Central Committee of the Communist Youth League of China, eventually becoming its leader. 1992-1997 - Member of the 14th CPC Central Committee, the Politburo and the Standing Committee. 1993-2002 - President CPC, Central Committee’s Central Party School. 1997-2002 - Member of the 15th CPC Central Committee, the Politburo, the Standing Committee and later the Secretariat. 2002 - Becomes a member of the 16th CPC Central Committee, the Politburo and the Standing Committee.

Search resuls for: "Economic Summit"

20 mentions found