DIRS.INFO The most relevant business & tech news

☆ Taiwan wants to hire Indian workers. What’s skin color or religion got to do with it?
▼ + stars: | 2024-03-05 | by ( Diksha Madhok | Wayne Chang | ) edition.cnn.com time to read: +4 min

New Delhi/Hong Kong CNN —Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In a separate apology, Taiwan’s labor ministry said Hsu implied “absolutely no discriminatory connotation when she mentioned ‘similar skin color’ in the interview. CNN has reached out to India’s Ministry of External Affairs for comments. In February, Taiwan said it will hire migrant workers from India to ease its labor shortage, but did not share any other details. Taipei currently allows migrant workers from Thailand, Vietnam, Indonesia and Philippines to work in the island, according to the labor ministry.

Persons: Hsu Ming, chun, ”, ” Hsu, Hsu, Hsu’s, Taiwan’s Foxconn, ” Young Liu, ” Liu, Padma Bhushan Organizations: Hong Kong CNN, Taiwan, Yahoo, Labor, CNN, India’s Ministry, Affairs, Padma, Bloomberg Locations: New Delhi, Hong Kong, Taiwan, India’s, India, China, Bangladesh, Myanmar, Covid, “ India, Japan, South Korea, Taipei, Thailand, Vietnam, Indonesia, Philippines

Consumers are happy, the stock market is near record highs, inflation is moderating and the labor market is defying all forecasts. Apparently, very little as the latest reading on consumer sentiment from the University of Michigan confirmed on Friday. The final consumer sentiment survey for January posted a 13% increase to 79, almost a 10-point surge from December’s 69.7 reading, echoing earlier estimates. “This morning’s strong jobs report diminished the chances of the Fed cutting in March,” said Jeffrey Roach, chief economist at LPL Financial. This means businesses are in a good position despite the macro headwinds and uncertainty about growth expectations.”

Persons: “, ”, Joanne Hsu, ” Hsu, –, David Royal, Jeffrey Roach Organizations: University of Michigan, Federal Reserve, Labor Department, Federal Reserve Bank, Atlanta’s, LPL

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."

Persons: Joanne Hsu, ” Hsu, ”, Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, “, Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: “, Federal Reserve Bank of New York

Consumer sentiment edged down in November with expectations for future business conditions taking a sharp tumble. The University of Michigan’s consumer sentiment index ended the month at 61.3, a 3.9% drop from the 63.8 in October. The current conditions index fell 3.3% to 68.3, while the future expectations index declined 4.2% to 56.8. Political Cartoons on the Economy View All 610 Images“Long-run inflation expectations rose from 3.0% last month to 3.2% this month, a reading last seen in 2011,” Hsu noted. Sentiment also has been divided by political affiliation with Republicans far more critical of the economy than Democrats.

Persons: “ Younger, ”, Joanne Hsu, “, ” Hsu Organizations: University of, Republicans, Federal Reserve, Wednesday, Dow Jones

Consumers continued to sour on the economic outlook in November while also growing more pessimistic about future inflation, according to the first estimate from the University of Michigan consumer sentiment survey. The index of consumer sentiment fell 5% to a reading of 60.4, down from 63.8 in October. “Ongoing wars in Gaza and Ukraine weighed on many consumers as well.”“Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment,” Hsu added. Various surveys measuring the minds of consumers have found them to be worried about inflation and the economy in general. “Consumer sentiment continues to trend downward at a moderate pace as consumers attempt to juggle inflation and higher interest rates,” said Damian McIntyre, Portfolio manager and head of multi asset solutions at Federated Hermes.

Persons: ”, Joanne Hsu, ” Hsu, Joe Biden, Damian McIntyre, Gregory Daco, ” Daco, Goldman Sachs Organizations: University of Michigan, “, Federated Hermes, Federal Reserve, Index, Louis Federal Reserve Bank Locations: Gaza, Ukraine, Kentucky, Ohio

Consumer sentiment dipped slightly in September, indicating Americans are tentative about the direction of the economy, according to the latest survey-based index from the University of Michigan. The overall consumer sentiment index, released on Friday, retreated to 67.7 from 69.5 in August, while the current conditions assessment dropped to 69.8 from 75.7 and the forward-looking expectations index increased to 66.3 from 65.5. “Sentiment this month was characterized by divergent movements across index components and across demographic groups with little net change from last month. There was improvement in how consumers see inflation going forward. That means workers are keeping just ahead of inflation, although prices for necessities such as groceries and gasoline have increased.

Persons: ”, Joanne Hsu, “, ” Hsu, ” Bernard Baumohl, Baumohl, “ They’re, Joe Biden, – Ford, Peter Berezin Organizations: University of Michigan, Consumers, San Francisco Federal Reserve Bank, Economic Outlook, Supreme, United Auto Workers, General Motors, Senate, Fed, BCA Research, Global Locations: Saudi Arabia, Russia, U.S

☆ Consumers are growing slightly more cautious about the economy
▼ + stars: | 2023-08-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN —Americans’ attitudes toward the US economy appear to be growing more tepid. The University of Michigan’s closely watched consumer sentiment index measured 69.5 in August, down slightly from July. “Consumers perceive that the rapid improvements in the economy from the past three months have moderated, particularly with inflation, and they are tentative about the outlook ahead,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a statement. Inflation expectations for the year ahead ticked down to 3.3% from 3.4% in July, showing “remarkable stability” but still trending higher than pre-pandemic expectations, which ranged in the 2.3% to 3% range. Inflation expectations are crucial data points for the Federal Reserve.

Persons: ” Joanne Hsu, Hsu, ” Hsu, “ Organizations: Minneapolis CNN, University of Michigan’s, Consumers, Federal Reserve Locations: Minneapolis, Michigan

☆ Janet Yellen told bank CEOs more mergers may be necessary, sources say
▼ + stars: | 2023-05-19 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —During Thursday’s meeting with the CEOs of large banks, Treasury Secretary Janet Yellen told executives that more bank mergers may be necessary as the industry continues to navigate through a crisis, two people familiar with the matter told CNN. However, sources tell CNN that bank mergers were discussed during Yellen’s meeting with bank CEOs. Yellen echoed remarks from US regulators who have said there may be bank mergers in the current environment, one person familiar with the matter said. Yet earlier this month, regulators allowed JPMorgan Chase, the nation’s largest bank, to buy most of First Republic, the second-largest bank to fail in US history. Michael Hsu, acting comptroller of the currency, told lawmakers earlier this week that his agency would be willing to quickly consider bank mergers.

☆ Consumer sentiment rises to 13-month high on strong jobs report, lower inflation
▼ + stars: | 2023-02-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

The preliminary consumer sentiment index for February increased to 66.4 from 64.9 in January, the university reported Friday. The survey also showed that consumers are expecting inflation to remain high in the near term. One-year inflation expectations increased to 4.2% from 3.9% in January. Long-run inflation expectations held steady at 2.9% for the third consecutive month. Inflation expectations are crucial data points for the Federal Reserve.

☆ Consumers say they’re feeling better about the economy. But they’re still planning for a recession
▼ + stars: | 2023-01-27 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

Minneapolis CNN —For the second month in a row, consumers said they are feeling better about the economy. The University of Michigan’s closely watched consumer sentiment index measured 64.9 for January, according to data released Friday. A separate report released earlier on Friday showed that consumers cut back on their spending in December and started stashing more in their savings as they prepare for a potential recession. Long-run inflation expectations held at 2.9%, according to the report. “Consumers continued to exhibit considerable uncertainty over both long- and short-term inflation expectations, indicating the tentative nature of any declines,” Hsu said in comments accompanying the report.

☆ Unprecedented protests in China are making headlines around the world, except inside China
▼ + stars: | 2022-11-28 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

It is one of the top stories — if not the top story — for major news organizations around the world. But for the hundreds of millions in China relying on news coverage from state-run media, there has been almost no coverage of the unprecedented challenge to leader Xi Jinping. Other state-run media outlets are also doing their best to wholly ignore the mass demonstrations, which have broken out in at least 16 cities. Mentions of the protests were absent Monday on the websites belonging to the People’s Daily and China Daily, two other prominent state-controlled media organizations. The concerted effort by the state-run media to silence the protests and carry government messaging put on display the lengths Xi’s mouthpieces will go to crush dissent.

☆ Consumers continue to lack confidence in the US economy ahead of holiday shopping season
▼ + stars: | 2022-11-23 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN Business —Heading into the all-important holiday shopping season, American consumers still aren’t feeling very confident about the state of the US economy. Strong incomes have thus far helped consumers, particularly lower-wage workers, cope with high inflation,” Hsu said in a statement. About 83% of respondents to the University of Michigan’s Surveys of Consumers said that it was a bad time to buy a home. The survey also showed that consumers’ inflation expectations for this year and five years out remained relatively unchanged at 4.9% and 3%, respectively. If consumers believe prices will remain high, that could factor into increased wage demands, which could cause businesses to raise prices.

☆ Americans are feeling worse about the US economy
▼ + stars: | 2022-11-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN Business —Consumers were feeling slightly worse about the US economy in November, amid punishing rate hikes and decades-high inflation, according to a closely followed University of Michigan survey released Friday. The preliminary index reading from the monthly Surveys of Consumers showed sentiment fell to 54.7, from 59.9 in October. The survey showed that sentiment slumped both for current economic conditions as well as for those in the near future. The survey also showed that consumers’ inflation expectations for this year and five years out remained relatively unchanged. Final sentiment data for this month will be released Nov. 23.

"Look, bank-fintech partnerships, they're here to stay. OVERWEIGHT CRYPTOOn cryptocurrency, Hsu said he was actually worried policymakers in Congress and regulators are overextending themselves to the detriment of other areas. "It's interesting, it has thorny issues... but relative to other technology and banking issues, I think we're now kind of overweight crypto." "Crypto is just occupying a lot of brain space for an awful lot of people, both on [Capitol] Hill and the regulatory community," he said. "The persistence of the occupation of brain space, it’s starting to worry me now that we’re not spending that time and attention on some other things."

Search resuls for: "” Hsu"

14 mentions found