DIRS.INFO The most relevant business & tech news

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ Bob Iger may prevail in Disney’s boardroom showdown, but the battle has not left him unscathed
▼ + stars: | 2024-04-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The battle for the future of Disney is about to reach its epic conclusion. Nelson Peltz, founder and chief executive officer of Trian Fund Management, has continually criticized Disney CEO Bob Iger. The forces that have tormented Iger will be banished to the shadows, exiled outside of the Magic Kingdom for now. The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World. The future of Disney is up for grabs in the proxy-fight between Iger and Peltz.

Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Rasulo, Disney’s “, Marco Bello, Iger, Bob Chapek, ” Barton Crockett, CNN’s, Samantha Delouya, George Lucas, Laurene Powell Jobs, Morgan, Jamie Dimon, Walt, Roy Disney, Abigail Disney, Ike Perlmutter, Trian, they’ll, Walt Disney, Mickey Mouse, Joe Burbank, ”, it’s, King, Hollywood, “ Iger Organizations: New York CNN, Disney, Trian, Management, Netflix, Trian Fund Management, Bloomberg, Rosenblatt Securities, “, Former Marvel Entertainment, Services, Magic Kingdom, Magic, Walt Disney World, Orlando Sentinel, Tribune, Service Locations: New York, Iger

☆ Target date funds: What are they and should you invest in one?
▼ + stars: | 2023-12-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —If you are in a 401(k) plan at work, you very likely have the option to invest in a so-called target date fund, which also may be called a retirement date fund or a lifecycle fund. At the end of 2020, the vast majority of plans (86%) offered target date funds, and 59% of 401(k) participants had money invested in one. Typically a target date fund is a “fund of funds” – meaning its portfolio is made up of both stock funds and bond funds selected by the manager. It is especially critical in your 50s to revisit your fund’s glide path to (and possibly after) the fund’s retirement date. “If you’re an overanalyzer or overthinker, or you don’t want to worry about it, target date funds are for you,” Sharick said.

Persons: Madison Sharick, Madi, Bryan Minogue, Minogue, fund’s, Sharick, Stacy Miller, ” Miller, “ it’s, –, ” Sharick Organizations: New, New York CNN, Research Institute, Kardinal Locations: New York, U.S, Tampa , Florida

☆ US debt rises to $33 trillion as government shutdown looms
▼ + stars: | 2023-09-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —As the US national debt passes $33 trillion and a government shutdown looms, Wall Street feels defensive. What’s happening: The gross national debt has grown at an alarming pace since then — by $1 trillion in the last three months alone. Political finger pointing around what caused the accelerated debt accrual, meanwhile, has left the government at an impasse around the budget. The recent increase in interest rates has already made it much more expensive for the government to pay back what it owes. That would leave the door open for another rate increase, which could come when the following meeting concludes, on November 1.

Persons: Fitch, ”, Michael Peterson, Peter G, Peterson, Biden, Gary Schlossberg, Jennifer Timmerman, Gregory Daco, Bryan Mena, Jerome Powell, Instacart, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, AAA, AA, GOP, UAW, Wells, Investment Institute, Fed, Federal, Financial, Walmart Locations: New York, —, Amazon

☆ The US is short on homes. Here’s how builders are still offering the American Dream
▼ + stars: | 2023-07-14 | by ( Anna Bahney | ) edition.cnn.com time to read: +8 min

This relatively new and growing segment of the housing market is called “build for rent” or BFR (or “build to rent” or BTR). Often constructed in suburban areas with low crime and near good schools, BFR homes attract those who want the lifestyle of a house — but the affordability or convenience of renting. Over the past few years, however, large investment groups — like Home Partners of America or Invitation Homes — have got into buying up existing single-family homes to rent. Miller said demand for BFR homes is strong and suit a modern way of living involving remote work, lifestyle moves and delayed homeownership. Even as a small portion of the market, those BFR homes that are being built are not the smaller, more affordable homes that middle-income earners are looking for.

Persons: ”, David Howard, Howard, “, Ben Miller, ” Miller, Miller, Donald Trump’s, homeownership, Bruce McNeilage, ” McNeilage Organizations: DC CNN, National Rental Home, National Rental Home Council, Urban Institute, Home Partners of America, Research, Joint Center for Housing Studies, Harvard University, Kinloch Partners, Survey Locations: Washington, Texas , California , Arizona, Florida, North Carolina, Georgia, BFR, United States, Nashville, Greenville , South Carolina, Yardi

☆ IMF's Georgieva says more vulnerabilities in banking sector may be exposed
▼ + stars: | 2023-05-01 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

BEVERLY HILLS, California (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Monday she expects more weaknesses to be exposed in the banking sector, only hours after First Republic Bank was rescued by JPMorgan Chase . Kristalina Georgieva, Managing Director, International Monetary Fund, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike BlakeSpeaking at the 2023 Milken Institute Global Conference in Beverly Hills, California, Georgieva immediately addressed the biggest topic of the day - the banking crisis that has been unnerving investors for weeks. “Recent events continue to remind us of the challenges posed by the interaction between tighter monetary and financial conditions and the buildup in vulnerabilities in the global financial system,” a spokesperson said. The IMF last month trimmed its 2023 global growth outlook slightly as higher interest rates cooled activity but warned that a severe flare-up of financial system turmoil could slash output to near-recessionary levels.

☆ Big bank investors owe thanks to Team America
▼ + stars: | 2023-04-14 | by ( John Foley | ) www.reuters.com time to read: +4 min

Wells Fargo has managed to keep even more for itself, passing on just 26%. Finance chief Jeremy Barnum reckons $50 billion of deposits flowed into his bank and stayed put, more than offsetting other outflows. Elsewhere in Dimon’s letter, he describes himself as a “red-blooded, patriotic, free-enterprise and free-market capitalist.” Investors may lap that up, but his bank’s earnings show other forces at work too. Wells Fargo reported $4.7 billion of earnings, 34% higher than the previous first quarter, and took a $1.2 billion quarterly provision for credit losses. Citigroup reported $4.3 billion of earnings, a 7% annual increase, while smaller rival PNC made $1.6 billion, an 18% increase.

☆ Adani crisis: Billionaire scrambles to reassure creditors as market rout enters third week
▼ + stars: | 2023-02-06 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission, which have collapsed in value. While the Adani Group has vehemently denied the allegation made by Hindenburg Resarch as “baseless” and “malicious,” investors remain unconvinced. Adani companies will be reporting quarterly results this week. Moody’s said Friday that the plunge in the shares of Adani companies was likely to reduce the group’s ability to raise capital. Another agency, S&P, cut the outlook for its ratings on two companies, Adani Ports and Adani Electricity, to negative from stable, citing the risk of higher funding costs or reduced access to capital.

☆ Thank Joe Biden for Stocks’ Bounce—Trump and Obama, Too
▼ + stars: | 2023-01-30 | by ( Spencer Jakab | ) www.wsj.com time to read: 1 min

The stocks’ bounce could be explained by the fact that it is winter and there is a presidential election next year. Instead of “Ode to Joy,” investors opening their 401(k) statements this week might consider humming “Sweater Weather” or “Hail to the Chief.”Pundits have no shortage of after-the-fact explanations for why stocks have bounced back so sharply over the past few months. They include receding inflation, bets that the Federal Reserve will halt its hiking cycle and companies exceeding analysts’ earnings expectations. One you probably won’t hear, because it requires no expertise other than being able to read a calendar, is that it is winter and there is a presidential election next year.

☆ Netflix Earnings Test Whether Strong Slate, New Ad Plan Can Deliver Customer Growth
▼ + stars: | 2023-01-19 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Netflix’s ‘Wednesday’ ranks third among TV shows on the platform for most hours viewed during its first 28 days. Netflix Inc. last quarter launched a lower-cost ad-supported plan in an effort to attract price-conscious customers and released a slate of highly anticipated hits including “Wednesday,” “Glass Onion: A Knives Out Mystery” and “Harry & Meghan.” Investors will find out Thursday whether the moves translated into strong subscriber gains. The streaming giant has said it expects to add 4.5 million new subscribers during the final three months of the year, which would make it the weakest fourth quarter for subscriber growth since the end of 2014.

☆ Premarket stocks: Bruised tech investors are hedging their bets
▼ + stars: | 2023-01-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. What’s happening: Investors are purchasing put options, a bearish bet that a stock will fall during a set period of time, on certain tech stocks at historic rates. The losses also created a booming market for investors who hold put option contracts that allow investors to sell shares of these stocks at a price higher than their current levels. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. Beyond that, the growing number of layoffs may also give certain tech companies some cover to take more severe steps to trim costs now than they may have otherwise done.

CNN —Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night. Wang cofounded FTX with Bankman-Fried in 2019 and also worked with him at his hedge fund Alameda Research. Ellison is pleading guilty to seven counts, including wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, conspiracy to commit commodities fraud and conspiracy to commit wire fraud. Wang has agreed to plead guilty to four counts: wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud and conspiracy to commit securities fraud.

☆ Dow tumbles 400 points and breaks below 30,000 as recession fears mount
▼ + stars: | 2022-09-23 | by ( David Goldman | ) edition.cnn.com time to read: +1 min

New York CNN Business —US stocks fell sharply Friday morning, as investors continued to worry about even more rate hikes from the Federal Reserve that could land the US economy in a recession. The Dow (INDU) tumbled 413 points, or 1.4%, in morning trading. The Dow remained below 30,000 points, a level it briefly breached Thursday. If the Dow ends the day below 30,000, it would be the first time it closed below that barrier since June 17. The 10-year yield fell back a bit Friday but remains near 3.7%, and the 2-year yield is above 4.1%.

Search resuls for: "” Investors"

13 mentions found