DIRS.INFO The most relevant business & tech news

☆ Bitcoin will drop 13% to $50,000 after falling below a key support level as macro drivers slow, Standard Chartered says
▼ + stars: | 2024-05-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto's decline has been driven by rising ETF outflows and falling US liquidity levels. AdvertisementDeteriorating conditions are denting the Bitcoin rally, with this week's drop below $60,000 putting it en route for an even lower price range. According to commentary from Standard Chartered, the apex token could temporarily reach as low as $50,000, signaling an over 13% drop from current levels. Among these are shrinking investments in spot bitcoin ETFs, funds that first sparked the rally at the year's start.

Persons: —, Geoff Kendrick, Kendrick, Mike Novogratz, he's Organizations: Chartered, outflows, Service, Standard Chartered, FX Locations: Hong Kong

☆ Audacious Ukrainian drone attacks keep doing massive damage to Russia's oil industry
▼ + stars: | 2024-04-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

The strikes are doing serious damage to Russia's oil and gas sector. Bloomberg reported that Russia's oil refining is at an 11 month low. AdvertisementBloomberg earlier this week reported that Russia's oil refining is at an 11-month low because of flooding and Ukraine's drone campaign. Ukraine's attacks on Russian oil depots are one of the few bright spots in its war in recent months. "Future Ukrainian drone strikes may disable and disrupt more of Russia's refining capacity and inflict critical constraints on Russian refining that begin to substantially impact Russia's production of distillate products," the analysts said.

Persons: —, Joe Biden's Organizations: Bloomberg, Service, AFP, Metallurgical, The Locations: Ukraine, Russia, Russia's Smolensk, Lipetsk, Russia's, Ukraine's, US

☆ China pushes banks to speed up approvals of new loans to private developers: Reuters
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +1 min

Chinese regulators are pushing banks to speed up approvals of new loans to cash-starved private property developers, people with knowledge of the matter said, a bid to revive homebuyer sentiment that risks denting lenders' asset quality. Chinese regulators are pushing banks to speed up approvals of new loans to cash-starved private property developers, people with knowledge of the matter said, a bid to revive homebuyer sentiment that risks denting lenders' asset quality. The property sector in the world's second-largest economy has lurched from one crisis to another since 2021, after a regulatory crackdown on developers' high leverage led to a liquidity crisis. The sources spoke on condition of anonymity because they were not authorized to speak to the media on the subject. Developers and bank statements say banks have been reluctant to grant new loans to property projects, while mostly extending maturity and lowering interest rates of existing loans.

Organizations: Reuters, National Financial Regulatory Administration Locations: Beijing

☆ Ron Insana: A market shake-up could be around the corner as inflation remains sticky
▼ + stars: | 2024-03-15 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Here's a question on the minds of investors amid recent hotter-than-anticipated inflation readings and this powerful rally: Are we due for a stock market scare? However, as of late, there have been some early warning signs that the declines in inflation may be slowing. Other areas have also sent up some flags that could adversely affect stocks and bonds in the short run. However, it is unwise to ignore what market signals are suggesting, at least in the short run. But in the short run, we should remain on heightened alert for changes in this year's outlook.

Persons: It's, I'm, John Maynard Keynes, Ron Insana Organizations: Federal Reserve, New York Federal Reserve, West Texas, Atlanta Federal, CNBC, Financial Partners Locations: York

☆ Space One Rocket Explodes Seconds After Launch in Japan
▼ + stars: | 2024-03-13 | by ( Yan Zhuang | More About Yan Zhuang | ) www.nytimes.com time to read: 1 min

The first rocket launched by the Japanese start-up Space One exploded seconds after takeoff on Wednesday, denting its ambition to become the country’s first private company to put a satellite into orbit. The Kairos solid-fuel rocket launched just after 11 a.m. local time and burst into flames less than ten seconds later, livestreams of the launch showed. The explosion left behind a large plume of smoke and set off a fire in a nearby forest that firefighters were battling to extinguish. The 60-foot-long rocket weighs 23 tons and was launched from Space Port Kii in Wakayama Prefecture on Japan’s main island, according to the company’s website. Space One did not respond to requests for comment early Wednesday afternoon.

Locations: Space Port, Wakayama Prefecture

☆ 4 economic reports the market cares about most next week, including a fresh look at inflation
▼ + stars: | 2024-03-09 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the Club, we heard this week from Foot Locker on Wednesday, then from Costco and Broadcom on Thursday. The big economic data drop of the week arrived Friday with February's nonfarm payrolls report . The center of attention is Tuesday's February consumer price index report . On Thursday, the February produce price index is due out. ET: Producer Price Index 8:30 a.m.

Persons: FactSet, Locker, Foot Locker, February's nonfarm, Jerome Powell, he's, we'll, MANU, LEN, Jim Cramer's, Jim Cramer, Jim, Mostafa Bassim Organizations: Nasdaq, Dow Jones Industrial, Costco, Broadcom, Commerce, Federal, PPI, Ballard Power Systems, Fortrea Holdings, Casey's, Vail Resorts, MTN, Daniels, Midland, Kohl's Corporation, Kanzhun, Game Technology, Manchester United, Blade Air Mobility, Clover Health, Beauty Health, Energy Vault Holdings, PHX Minerals, Guild Holdings, Finance, Heron Therapeutics, ZIM Integrated Shipping Services, Arcos Dorados Holdings, ARCO, Petco, Wellness Company, Farms, Sonoma, WSM, ESS Tech, DICK'S Sporting, Inc, Futu Holdings, Bear, Autolus Therapeutics, III Apparel, Solo Brands, Weibo Corporation, Embraer, CNBC, Washington DC, Anadolu, Getty Locations: U.S, Asana, ASAN, Williams, Washington, United States

☆ Amazon Prime Video’s ad tier has potential to deliver a one-two punch: better shows and more profits
▼ + stars: | 2024-02-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Just weeks after Amazon cut hundreds of jobs across its Prime Video and MGM Studios divisions, the advertisements officially arrived on Prime Video on Jan. 29. This gives Amazon first-hand customer data from Prime members it can leverage for advertisers who want to show ads during Prime Video shows. "While still early days, streaming TV advertising continues to grow quickly," Jassy said on the fourth-quarter earnings call. Additionally, the potential audience for Prime Video is huge – the company has said it has more than 200 million Prime subscribers. Prime Video keeps putting out new movies and shows like the popular "Lord of the Rings", "Reacher", "Mr. & Mrs. Smith", and "Citadel".

Persons: There's, Andy Jassy, —, Jassy, Brian Olsavsky, Cowen, TD Cowen, Canaves, Smith, Peacock, Jim Cramer's, Jim Cramer, Jim Organizations: MGM Studios, Netflix, Disney, Amazon, Amazon Web Services, Walmart, Kroger, Insider Intelligence, Prime, Paramount Global, Walmart –, TV, U.S, Intelligence, National Football League, Football, Nielsen, QR, NFL, Comcast, Miami Dolphins, Kansas City Chiefs, Chiefs, San Francisco 49ers, Super, Paramount, CNBC

☆ Xi just fired China's top markets regulator. It shows his focus is still on control above all else.
▼ + stars: | 2024-02-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina's extended stock market rout was so bad that leader Xi Jinping was set to personally pay attention to it — and it looks like his solution was to fire the country's top markets regulatory late on Wednesday. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. Stock markets in China and Hong Kong have accelerated losses into 2024. The analysts at the Eurasia Group aren't the only ones who say China needs to double down on economic reforms to shore up its economy.

Persons: —, Xi Jinping, Wu Qing, Xi, Eswar Prasad, China's Organizations: Service, China Securities Regulatory, Bloomberg, Business, Eurasia Group, Eurasia Group aren't, Cornell University, International Monetary Fund, Nikkei, Index, Hong Kong Stock Exchange Locations: China, Hong Kong, Beijing

☆ China's economy may not overtake the US, but a Trump presidency would still help Beijing: former IMF official
▼ + stars: | 2024-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina is taking steps to support its economy and stock markets, but there are limits to what can be achieved, said economist Eswar Prasad. Stock markets in China and Hong Kong have accelerated losses into 2024 after shedding trillions of dollars since 2021. "The likelihood of the prediction that China's GDP will one day overtake that of the US is declining," Prasad added to Nikkei. This is because Trump is likely to ratchet up trade protectionism, causing fragmentation in the trade and financial sectors, Prasad told Nikkei.

Persons: —, Eswar Prasad, Prasad, China hasn't, Trump, Prasad doesn't, Donald Trump Organizations: Service, Cornell University, International Monetary Fund, Nikkei, Business, Stock, Reuters Locations: China, Hong Kong, Beijing, Asia

☆ McDonald’s pushed customers to the brink on price. They’re starting to push back
▼ + stars: | 2024-02-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

At McDonald’s, which has repeatedly boasted about its ability to raise menu prices without denting sales, executives are finally acknowledging that customers need a break. But his focus on affordability marked a shift from just a few months ago, when he boasted that US menu prices, which went up as much as 10% in 2023 alone, weren’t deterring sales. On TikTok, it’s a common refrain for McDonald’s customers to say the company has gone too far, charging more than $3 for a single hash brown in some locations. Still, up until recently, McDonald’s found most customers were still willing to pay. Kempczinski said McDonald’s would double down on its “D123” strategy, which prices some items between $1 and $3.

Persons: Chris Kempczinski, Kempczinski, didn’t, ”, McDonald’s, y’all y’all, “ we’re, “ Organizations: New, New York CNN — Corporate Locations: New York, Darien , Connecticut, United States, Darien, America, Des Moines

Only 5.7% of the 1.3 million eligible voters cast ballots at the 39 voting stations around the city, the newspaper Le Monde said. Demur said heavier cars make congestion “even more complicated” and that ”one must consider the ecology, the parking issues." It’s about freedom.”The vote follows another City Hall consultation last year on whether to ban for-hire electric scooters. In a country of car-lovers, home to Renault, Citroen and Peugeot, Hidalgo has worked for years to make Paris less car-friendly. It’s become a central Paris haven for cyclists, runners, families and romantics since Hidalgo closed it to motor traffic in 2016.

Persons: Anne Hidalgo, Le, Hidalgo, “, Demur, Hall's, Leicester Organizations: PARIS, Socialist, Le Monde, Renault, Citroen, Peugeot, Paralympic Games Locations: Paris ’, Paris, It’s, Hidalgo, Le Pecq, France

Rising bond yields have thrown cold water on the major averages, but a few winners may emerge even if rates remain elevated. These developments have spurred worries that the Fed policymakers could keep rates higher for longer. Bond prices and yields are inversely related, which means that as yields rise, bond prices will fall. Generally, insurers benefit when interest rates rise , since their investment portfolios will generate more yield. Shares of both real estate investment trusts, which specialize in communications services, could take a hit as higher rates make their dividends less attractive.

Persons: W.R ., Humana, Jefferies, Centene, Sherwin, Williams, Baird Organizations: Federal Reserve, CNBC Pro, Treasury Bond ETF, CME Group, Molina Healthcare, W.R, Florida Medicaid, American Tower Corporation, SBA Communications Locations: Molina, UnitedHealth, Florida

☆ China's Population Drops for 2nd Year, Raises Long-Term Growth Concerns
▼ + stars: | 2024-01-16 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +4 min

By Farah MasterBEIJING (Reuters) - China's population fell for a second consecutive year in 2023, as a record low birth rate and a wave of COVID-19 deaths when strict lockdowns ended accelerated a downturn that will have profound long-term effects on the economy's growth potential. Japan's birth rate was 6.3 per 1,000 people in 2022, while South Korea's rate was 4.9. Long-term, U.N. experts see China's population shrinking by 109 million by 2050, more than triple the decline of their previous forecast in 2019. POLICY ISSUESChina's 2023 rate of 7.87 deaths per 1,000 people was higher than a rate of 7.37 deaths in 2022. Marriages are a leading indicator for birth rates in China, where most single women cannot access child-raising benefits.

Persons: Farah Master, Mao, Washington ., Xi Jinping, Marius Zaharia, Jamie Freed Organizations: Farah Master BEIJING, National Bureau of Statistics, United Nations, Academy of Sciences Locations: China, Japan, South Korea, South, India, Beijing, Washington, United States, Hong Kong

☆ Gold subdued as traders gear up for US inflation print
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Spot gold was down 0.3% at $2,023.48 per ounce. U.S. consumer inflation data is due on Thursday. Economists polled by Reuters see year-on-year inflation at 3.2% in December, but think core inflation likely fell to 3.8%, its lowest since mid-2021. "Still, bullion bulls would have no qualms restoring spot gold back above that psychologically important mark once markets get a firmer grasp on the Fed's policy pivot."

Persons: Bob Haberkorn, Michelle Bowman, denting, Han Tan Organizations: Heraeus SA, Solar, Reuters, New York Federal Reserve, Treasury, Exinity Locations: Budapest, Hungary, U.S

☆ Moody's cuts China credit outlook, citing lower growth, property risks
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the headquarters of the People's Bank of China, China's central bank, in central Beijing November 24, 2014. "The outlook change also reflects the increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector," Moody's said. "Moody's concerns about China's economic growth prospects, fiscal sustainability and other aspects are unnecessary," the ministry said. STRUGGLING FOR TRACTIONMost analysts believe China's growth is on track to hit the government's target of around 5% this year, but that compares with a COVID-weakened 2022 and activity is highly uneven. Analysts widely agree that China's growth is downshifting from breakneck expansion in the past few decades.

Persons: Kim Kyung, Moody's, Ken Cheung, Pan Gongsheng, COVID, Goldman Sachs, Gnaneshwar Rajan, Kevin Yao, Tom Hogue, Kim Coghill Organizations: People's Bank of China, REUTERS, Mizuho Bank, Economic Work Conference, Fitch, China's Finance Ministry, International Monetary Fund, Thomson Locations: Beijing, Hong Kong, China, outflows, Bengaluru

☆ Dollar rises, recouping losses from strengthened Fed rate cut bets
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

The dollar index, which tracks the currency against six major peers, rose by 0.4% to 103.71, while the euro was last down nearly 0.5% at $1.0828. "I think it's the fact that U.S. policy rate expectations have gone too far and will unwind more in December than rate expectations elsewhere," said Colin Asher, senior economist at lender Mizuho in London. "November was... a very poor month for the U.S. dollar, in part driven by expectations of easier Fed policy," Asher said. The dollar was trading higher against the yen at 147.34, after falling to 146.24 in the Asian session, its lowest since mid-September. "A steady USD decline needs more than just an expectation of Fed rate cuts, it also needs strong growth outside of the U.S. which doesn't seem to be the case currently," said Charu Chanana, market strategist at Saxo Markets.

Persons: Colin Asher, Asher, Sterling, Jerome Powell, Charu, denting, Christine Lagarde Organizations: Federal Reserve, Mizuho, U.S ., Saxo Markets, European Central Bank Locations: London, Germany

☆ In his last TV interview, Kissinger said democracy is in 'great danger' from a declining middle class and growing inequality
▼ + stars: | 2023-11-30 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

Henry Kissinger said democracy is in "great danger" due to growing income inequalities. AdvertisementHenry Kissinger said democracies in the West, including in the US, are in "great danger" because the middle class is disappearing due to widening income inequalities. However, now values of "compromise" and "understanding" are in "great danger in the West," he said. AdvertisementAccording to prominent economists , widening income inequalities are exacerbating the democratic deficit, with the influence of big money denting existing political systems. Because of these growing issues, democracy needs to "rebuild itself," Kissinger said, with this becoming a "key issue" in the US and the rest of the world.

Persons: Henry Kissinger, —, Mathias Döpfner, Axel Springer, Kissinger, Döpfner Organizations: West . Democracy, Service, Business, Global State, Democracy, International Institute for Democracy, Electoral Locations: West

☆ Panasonic’s auto deal deserves a speedy sequel
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsHONG KONG, Nov 22 (Reuters Breakingviews) - Panasonic’s (6752.T)decision to sell part of its automotive unit suggests CEO Yuki Kusumi’s plans are taking a promising turn. The business, which pioneers technology like infotainment systems for the next generation of internet-connected cars, is a growing but capital-intensive opportunity. Selling a stake to Apollo Global Management (APO.N), with the possibility of a listing later, could help fund faster development without denting Panasonic’s balance sheet or returns. This was an obvious target for Kusumi, who previously led the auto unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Toru Hanai, Yuki Kusumi’s, Panasonic’s, it’s, Katrina Hamlin, Francesco Guerrera, Thomas Shum Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Reuters, Apollo Global Management, Sony, Hitachi, Panasonic, X, Walmart, Thomson Locations: JAPAN, Chiba, Japan, HONG KONG, Asia, Rome

Barclays Bank logo is seen in this illustration taken March 12, 2023. Tesco Plc and Tesco Bank declined to comment. It could not be established how much the proposed deal would value the Tesco Bank assets. Tesco Bank was launched in 1997 as a joint venture between the British supermarket group and Royal Bank of Scotland, with Tesco later taking full control of the company. Despite seeing it as a growth area in the past, Tesco has been scaling back its banking services, including no longer offering current accounts and offloading its mortgage portfolio to Lloyds Banking Group (LLOY.L).

Persons: Dado Ruvic, Amy, Jo Crowley, Pablo Mayo Cerqueiro, Lawrence White, Iain Withers, Anousha Sakoui, Jane Merriman Organizations: Barclays Bank, REUTERS, Barclays, Reuters, Tesco Bank, Tesco, Tesco Plc, British, Royal Bank of Scotland, Lloyds Banking Group, Thomson Locations: British, Kensington

☆ Moldova's Largest Orthodox Church Keeps Link to Russia
▼ + stars: | 2023-11-16 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Alexander TanasCHISINAU (Reuters) - Moldova's largest Orthodox church reaffirmed its link to its Russian parent church on Thursday despite dissent from priests who have denounced the association with Moscow over the Kremlin's invasion of Ukraine. But parishioners are divided between two churches -- the Moldova Metropolis, subordinate to the Russian Orthodox Church, and the Metropolis of Bessarabia, which reports to the Romanian church. "The clergy and the people remain faithful to the Orthodox Church of Moldova and Metropolitan Vladimir," Bishop Ioan of theRussia-linked church said in a statement. "There will be no discussion of linking the Molodvan Orthodox Church to the Romanian Patriarchate." A group of priests in the majority Russian-linked church had asked Vladimir this week to switch allegiance to the Romanian church.

Persons: Alexander Tanas CHISINAU, Metropolitan Vladimir, Kirill, Bishop Ioan, Vladimir, Pavel Borsevschi, Maia Sandu, Sandu, Alexander Tanas, Ron Popeski, Sandra Maler Organizations: Orthodox Church, Metropolitan, Orthodox, of, European Union Locations: Moscow, Ukraine, Moldova Metropolis, Metropolis, Bessarabia, Romanian, Russia, Russian, of Moldova, Romanian Patriarchate, Romania, Soviet Union

☆ Gold eases as firm dollar counters bets on peak US rates
▼ + stars: | 2023-11-15 | by ( Anushree Ashish Mukherjee | ) www.reuters.com time to read: +2 min

U.S. gold futures fell 0.2% to $1,961.10 . Denting bullion's appeal, the dollar index (.DXY) was up 0.4%, while benchmark 10-year U.S. Treasury yields rebounded after a revision of retail sales data showed strong gains in September. Bullion gained over 1% in the previous session after data showed that U.S. consumer prices were unchanged in October. U.S. producer prices fell by the most in 3-1/2 years in October, the latest indication of subsiding inflation pressures. While gold is considered an inflation hedge, rising interest rates dull non-yielding bullion's appeal.

Persons: Bullion, David Meger, Tai Wong, Anushree Mhukerjee, Emelia Sithole Organizations: Companies, U.S . Federal, Treasury, CPI, PPI, High, Investors, Thomson Locations: U.S, New York, Bengaluru

☆ FTC seeks information on $8.5 bln Tapestry-Capri deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Michael Kors is seen on an outlet store in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 6 (Reuters) - The U.S. Federal Trade Commission (FTC) has sent requests to Tapestry (TPR.N) and Michael Kors owner Capri Holdings (CPRI.N) for more information on their planned $8.5 billion deal, the companies said on Monday. The companies said on Monday they expect to respond "promptly" to the FTC's request and aim to close the deal as planned, in 2024. Capri's shares, which had jumped 55% on Aug. 10 after the deal was announced, were down 2.5% in extended trade. Reporting by Manas Mishra and Juveria Tabassum in Bengaluru; Editing by Shounak Dasgupta and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Kors, Michaela Rehle, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Capri's, Tapestry, Manas Mishra, Juveria, Shounak Dasgupta, Krishna Chandra Organizations: REUTERS, U.S . Federal Trade Commission, Capri Holdings, Capri, Thomson Locations: Metzingen, Germany, Paris, Bengaluru

☆ Goldman says sell-off is a buying opportunity for these stocks with healthy balance sheets
▼ + stars: | 2023-10-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The recent sharp drawdown in stocks presents a buying opportunity for those stocks that are positioned to withstand a double whammy of higher interest rates and an economic slowdown, according to Goldman Sachs. "Although we expect headwinds to discount rates and balance sheets to persist, we would view a substantial further downgrade to the growth outlook as a buying opportunity," David Kostin, Goldman's chief U.S. equity strategist, said in a note to clients. Therefore, Goldman believes many cyclical stocks, or those with a high sensitivity to the economy, shouldn't suffer. "We therefore remain wary of long-duration and highly levered stocks but think investors should treat cyclical sell-offs as a buying opportunity," Kostin said. Energy stocks Devon Energy and Patterson-UTI Energy also made the list.

Persons: Goldman Sachs, David Kostin, Goldman, Kostin Organizations: Academy Sports, PVH Corp, Holdings . Energy, Devon Energy, Patterson, UTI Energy

☆ The S&P 500 has entered a correction. Here's why Warren Buffett likely thinks that's good news
▼ + stars: | 2023-10-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The stock market tumbled into correction territory this week, spurring fear among investors that more turmoil is ahead. But if you are a disciple of Warren Buffett, a 10% drawdown for the equity benchmark shouldn't matter. "I know what markets are going to do over a long period of time — They're gonna go up. Buffett believes that when there's emotional selling in the market, it offers an opportunity for him to hunt for bargains. "Anytime stocks go down as far as I'm concerned, I like it because I'm a net buyer of stocks," he said.

Persons: Warren Buffett, Buffett, Benjamin Graham, They're, I've, Berkshire Hathaway, Stocks, aren't Organizations: Columbia University, CNBC, Berkshire, Oracle, Omaha, BNSF Railway, America, Dow, Cities Locations: Berkshire

☆ Intel’s reverse bullwhip is strong
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

The $150 billion chip giant has weathered a post-Covid maelstrom as an initial work-from-home-driven boost to PC sales slammed into reverse, denting sales and the company’s chunky gross profit margin. Growth isn’t back, but results released on Thursday show the decline is slowing and a new division has promise. At least one pandemic bullwhip might be close to having run its course. Reuters GraphicsBetter yet, Intel’s foundry business - Gelsinger’s push to start making chips designed by others - is narrowing its losses while growing revenue and scaling up. Though many customers are signing up on the condition that Intel’s manufacturing tech reaches certain milestones, that unit is its future.

Persons: Pat Gelsinger, Jonathan Guilford, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Intel, Taiwan Semiconductor Manufacturing, X, Thomson

Search resuls for: "denting"

25 mentions found