DIRS.INFO The most relevant business & tech news

☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ India says Europe trade group commits to $100 billion 15-year deal
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations. It envisages that the European Free Trade Association, comprised of Switzerland, Norway, Iceland and Liechtenstein, will invest $100 billion over 15 years in India's fast-growing market of 1.4 billion people, Trade Minister Piyush Goyal said. "With the new deal, we have secured nil import taxes on nearly every Norwegian good." The five signatories must ratify Sunday's deal before it can take effect, with Switzerland planning to do so by 2025.

Persons: Piyush Goyal, Narendra Modi, Christian Vestre, Goyal Organizations: of Commerce and Industry, Consumer Affairs, Food, United Arab, European Free Trade Association, Trade, Industry Locations: India, Australia, United Arab Emirates, Britain, Switzerland, Norway, Iceland, Liechtenstein

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ Australia says it's going to shoot wild horses from helicopters in a bid to cull 14,000 of them
▼ + stars: | 2023-12-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Officials in New South Wales say they've authorized the shooting of wild horses from helicopters. They've been given a task of eliminating some 14,000 wild horses at a national park in four years. "Aerial shooting" would involve operatives firing on the horses from helicopters — a tactic that the local government trialed in November. AdvertisementCurrent government estimates of the national park's wild horse population sit between 12,934 and 22,546 horses, with a best gauge of around 17,400. Supporters of protecting the wild horses say the animals are part of Australia's heritage, and have decried the revival of the aerial shootings.

Persons: they've, They've, they'll, insensibility, it's, Brook Mitchell, Jan Carter, Carter Organizations: Service, Kosciuszko, New South, brumbies, Australians, Brumbies, Heritage Brumbies Locations: New South Wales, South Wales, Australia

☆ Apple will make a big change to iPhone messages next year
▼ + stars: | 2023-11-16 | by ( Samantha Murphy Kelly | Samantha Kelly | ) edition.cnn.com time to read: +5 min

The change – first reported by tech site 9to5Mac – will add features, such as read receipt, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms. Apple told CNN in a statement it will add support for the standard, called RCS (Rich Communication Services), later next year. Meanwhile, Google, which already has support for RCS within its messaging app, has been vocal about wanting Apple to adopt the standard. The move, however, doesn’t necessarily mean the green bubbles (Android or other users) and blue bubbles (Apple users) that are displayed when messaging someone on the other platform will go away anytime soon. “Instead, RCS support will enable a smoother and better customer experience of iPhone users communicating across platforms.

Persons: iMessage, Apple, Steve Jobs, Tim Cook, Cook, ”, Dipanjan Chatterjee, Michael Inouye, ” Inouye, Chatterjee, ” Chatterjee, that’s Organizations: CNN, Apple, Communication Services, Universal, Google, Commission, European Union, “, Forrester Research, ABI Research, GSM Association Locations: Europe

☆ Baltic Sea drills to focus for first time on repelling Russian attack
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 1 (Reuters) - Major naval drills about to start in the Baltic Sea involving some 30 ships and more than 3,000 Western service members will for the first time practice how to respond to a Russian assault in the region, Germany's navy chief said on Friday. Securing the sea routes through the Baltic Sea is another focus of the exercise that will take place off the coasts of Latvia and Estonia. "Finland and the Baltic states depend to almost 100% on the maritime supply routes through the Baltic Sea," Kaack noted. The Suwalki Gap, a narrow land corridor of some 65 kilometres (40 miles), is the only connection linking the Baltic states to Poland and NATO's main territory in Europe. Germany aims to provide the facility to NATO as a regional maritime headquarters, capable of leading the alliance's operations in the Baltic Sea in case of a conflict.

Persons: Jan Christian Kaack, Kaack, Sabine Siebold, Peter Graff Organizations: NATO, Thomson Locations: Baltic, Russia, Berlin, Sweden, U.S, Canada, Netherlands, Belgium, France, Latvia, Estonia, Finland, Poland, NATO's, Europe, Rostock, Germany, Ukraine

☆ Inside Prague's Institute of Crypto Anarchy — where they're plotting to bring down the dollar
▼ + stars: | 2023-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

Today, that union of minds finds refuge in Prague in a retrofitted factory building called Paralelní Polis, or "parallel world." The dark stucco of Polis' Prague headquarters is an outlier among the ornate, brightly-colored buildings that tower over it. ETHPrague 2023 was held at Paralelní Polis in the Czech Republic Pavel SinaglThe 'parallel world' concept is sticky. The Vienna branch goes so far as to self-describe as a living example of how "the Paralelní Polis cryptoliberation virus is spreading." The most popular Czech bitcoin YouTuber boasts 90k subscribers, while the annual Czech-only bitcoin conference called Chaincamp attracts around 2000 visitors, even during the bear market."

Persons: Czech Republic Pavel Sinagl, Ztohoven —, Ztohoven, provocateurs, Václav Benda, Dan Ligocký, Ligocký, William Lobkowicz, ethereum, Vitalik Buterin, Ethereum, Pavel Sinagl, Prague MacKenzie Sigalos, Holy, William, Ileana Lobkowicz, Josef Tětek, Tětek, isn't, biohacking, —, Carl Menger, Friedrich Hayek, BTCPrague, Michael Saylor, Satoshi cryptographer, Adam Back, Saifedean Ammous, bitcoin, Gary Gensler, bitcoin maximalist, Vaclav, — Matěj Žák, Jan Čapek, Christoph Kassas, YouTuber Jakub Vejmola, Jameson Lopp, Stephan Livera, Robert Breedlove, Stani Kulechov, Ondrej Polak, Czech Republic Pavel Sinagl Ligocky Organizations: Paralelní, CNBC, European Union, Polis, of Cryptoanarchy, Austrian, Securities, Exchange, Czech Craft, U.S, Treasury, Casa, Ethereum Foundation, Czech Blockchain Association, optimist Locations: Paralelní Polis, Czech Republic, Czech Republic Pavel Sinagl PRAGUE, Czech, Bohemian, Prague, It's, Polis, Polis —, Lobkowicz, Nazi, Vienna, Barcelona, Bratislava, Slovakia, Košice, Austrian, ., Alza, Bohemia, Europe, Old Town, Holešovice

☆ NASA's James Webb telescope captured the spectacular death throes of a star 2,600 light year away
▼ + stars: | 2023-08-04 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

The James Webb Space Telescope continues to impress with stunning images of the universe. You can see the image in more detail below:The Ring Nebula is a favorite among amateur astronomers. This latest Ring Nebula picture isn't just "aesthetically pleasing," said co-lead scientist Nick Cox of space observation firm ACRI-ST, France. As part of the space telescope's first series of images, scientists released stunning new photos of the Southern Ring Nebula, in July 2022. The two stars can be seen on the MIRI cam picture of the Southern Ring Nebula.

Persons: James Webb Space, NASA's James Webb, Jan Cami, James Webb, Nick Cox, Mike Barlow, JWST Organizations: Service, NASA's James Webb Space, University of Western, Imaging, University College London, NASA, ESA, CSA Locations: Wall, Silicon, University of Western Ontario, Canada, France

☆ Webb telescope captures stunning new look at the Ring Nebula
▼ + stars: | 2023-08-04 | by ( Ashley Strickland | ) edition.cnn.com time to read: +3 min

CNN —Astronomers have used the James Webb Space Telescope for a fresh perspective of an iconic celestial favorite called the Ring Nebula. The new image captures never-before-seen details within the colorful nebula, located in the Lyra constellation about 2,600 light-years from Earth. The structure of the Ring Nebula can be glimpsed through amateur telescopes and has been observed and studied for years. “I first saw the Ring Nebula as a kid through just a small telescope. “The James Webb Space Telescope has provided us with an extraordinary view of the Ring Nebula that we’ve never seen before.

Persons: James Webb, Charles Messier, “, ”, Jan Cami, we’ve, Mike Barlow, Els Peeters Organizations: CNN —, Imaging, Western University’s Institute for Earth, Exploration, University College London, Western’s Institute for Earth Locations: London , Ontario

☆ Fresh Murray leads charge of British men, faces Tsitsipas test
▼ + stars: | 2023-07-05 | by ( Aadi Nair | ) www.reuters.com time to read: +2 min

"Any time you get the chance to finish a match quickly and can conserve some energy, it's a really positive thing. "He's someone who's done so much for the sport and I'll go into it with a lot of respect for him. DO OR DIE FOR LOCAL HOPESAfter three British women's players were eliminated on Wednesday, the men's contingent could also be whittled down considerably on Thursday. In addition to Murray, wildcard Jan Choinski will take on Poland's Hubert Hurkacz for a place in the third round, while Liam Broady faces a stern test against Norwegian fourth seed Casper Ruud. In the women's draw, defending champion Elena Rybakina takes on France's Alize Cornet, with fourth-seeded American Jessica Pegula up against Spain's Cristina Bucsa.

Persons: Andy Murray, Stefanos, Murray, Scot, Ryan Peniston, Tsitsipas, Dominic Thiem, I've, I'm, It's, Jan Choinski, Poland's Hubert Hurkacz, Liam Broady, Casper Ruud, Daniil Medvedev, Andrey Rublev, Alexander Zverev, Gijs Brouwer, Elena Rybakina, France's Alize Cornet, Jessica Pegula, Spain's Cristina Bucsa, Aadi Nair, Toby Davis Organizations: Wimbledon, Court, Thomson Locations: British, Wimbledon's, Norwegian, U.S, Bengaluru

☆ Warholm wins 400m hurdles race hit by environmental protest in Stockholm
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +4 min

STOCKHOLM, July 2 (Reuters) - Norway's Olympic champion Karsten Warholm won the men's 400 metres hurdles in a race that was hindered by a protest from environmentalists at a rain-hit Galan Diamond League meet on Sunday. The 27-year-old double world champion, who slapped his thighs and let out a loud whoop during the introductions, ran blind in the outside lane en route to a time of 47.57 seconds. WORLD RECORD ATTEMPTThe rain wreaked havoc with numerous events, particularly the much-anticipated men's pole vault featuring local hero Armand Duplantis. He then missed on three attempts at 6.23, which would have topped his world record of 6.22. With Lamecha Girma of Ethiopia breaking the steeplechase world record last month in Paris, there could be a thrilling battle between the African pair at the worlds in Hungary.

Persons: Karsten Warholm, Galan, Warholm, Armand Duplantis, Kristjan, Daniel Stahl of Sweden, Freweyni Hailu, Hailu, Beatrice Chebet, Soufiane El, Akani, Simbine, Lori Ewing, Tommy Lund, Ken Ferris, Toby Davis Organizations: Galan Diamond League, A22 Network, TV4, NRK, Stockholm, Broadcasters, Thomson Locations: STOCKHOLM, Norwegian, Budapest, Slovenia, Soufiane El Bakkali, Morocco, Ethiopia, Paris, Hungary, South Africa, Gdansk

☆ Five-time champion Williams and Svitolina handed Wimbledon wildcards
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. tennis player Venus Williams hits a return to her sister Serena during their exhibit tennis match in Johannesburg November 4, 2012. REUTERS/Siphiwe Sibeko/File PhotoJune 21 (Reuters) - Seven-time Grand Slam champion Venus Williams and former world number three Elina Svitolina were handed wildcard entries into Wimbledon, the organisers announced on Wednesday. Williams, 43, has won the third major of the year five times and returned to action this month after a five-month injury layoff. Boulter will be joined by compatriots Jodie Burrage, Harriet Dart, Katie Swan and Heather Watson as wildcard entries. In the men's tournament, Liam Broady, Jan Choinski, Arthur Fery, David Goffin, George Loffhagen and Ryan Peniston were handed wildcard entries.

Persons: Venus Williams, Serena, Siphiwe, Elina Svitolina, Williams, Italian Camile Giorgi, Svitolina, Linda Fruhvirtova, Katie Boulter, Jodie Burrage, Harriet Dart, Katie Swan, Heather Watson, Liam Broady, Jan Choinski, Arthur Fery, David Goffin, George Loffhagen, Ryan Peniston, Pearl Josephine Nazare, Christian Radnedge Organizations: REUTERS, Wimbledon, Birmingham, Czech, Tennis, Nottingham Open, Thomson Locations: Johannesburg, Italian, Birmingham, Bengaluru

☆ Volkswagen won't join China discount battle "at any price" - COO
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowBERLIN, May 31 (Reuters) - Volkswagen (VOWG_p.DE) will not participate in a discount battle in China "at any price", Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday. In concrete terms, this means that we will not participate in the discount battle at any price," Brandstaetter said in an interview for the company's intranet. "Our market position is strong enough. Volkswagen aspires to be the biggest international carmaker in China, he said, adding that it's irrelevant if another national manufacturer sells more than it does. Chinese manufacturer BYD 002594.SZ outsold Volkswagen, which has led the market there for decades, as the top passenger car brand earlier this year.

Persons: Ralf Brandstaetter, Brandstaetter, Jan C, Schwartz, Friederike Heine, Miranda Murray, Kirsti Knolle, Madeline Chambers Organizations: Volkswagen, BERLIN, SZ, Thomson Locations: China

But there was little sign of chaos, only of crowds, at the church on Friday morning. Jan Carlo, a 47-year-old from Venezuela, had just turned himself in to the border authorities to be entered into the immigration system. While still in Mexico, he had tried for days to get an interview appointment through the government smartphone app but eventually gave up in frustration. He crossed into the United States undetected about 10 days ago, he said, and had been sleeping outside the church since then. “So I’d better stay out here, because I have more security,” with police officers stationed close by, he said.

☆ Morning Bid: Markets March on China boomlet
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +5 min

And after a bruising setback for stocks and bonds in February, investors now have to assess whether the unfolding economic rebound is sustainable given the eye-watering revision that it's forcing in inflation and interest rate expectations. This is emboldening both the hawks at the European Central Bank and markets keen to re-price the interest rate horizon. Money markets have already moved beyond that and now price peak ECB rates at year-end almost 150 bps higher at 3.90%. Even though U.S. consumer confidence and housing data on Tuesday questioned some of the reheating narrative, markets now assume peak Federal Reserve rates will be as high as 5.42% by July. And homebuilder Persimmon (PSN.L) dropped almost 10% after it warned the housing slowdown and higher mortgage rates would hit profit and home-building targets.

January's rise was the fastest since September 1981, when fuel costs spiked due to a Middle East oil crisis and hit Japan's import-reliant economy. Core consumer inflation has now exceeded the Bank of Japan's 2% target for nine straight months, mostly reflecting persistent rises in fuel and raw material costs, the data showed. "But there are questions as to whether the rise in inflation will be sustainable, as it is still driven largely by food and fuel costs," he said. At Ueda's debut policy meeting on April 28, the BOJ will release for the first time its inflation forecasts extending to fiscal 2025. Japan's economy averted recession in the fourth quarter of last year but rebounded much less than expected as business investment slumped.

☆ Morning bid: When meeting expectations isn't enough
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +3 min

That sent the S&P down but the Nasdaq index ended up, while two-year Treasury yields rose to 3.799, the highest since January. It looks like markets are still unable to make up their minds on the data's long-term impact. Officials said the U.S. central bank would need to keep gradually raising interest rates to beat inflation. After the inflation data, traders of interest rate futures now see the Fed raising borrowing costs three more times, bringing the policy rate to the 5.25%-5.50% range by July, if not June. Meanwhile, investors turned more optimistic about the global economy in February, flocking to emerging market stocks and cutting their cash holdings to levels last seen before the war in Ukraine, a BofA survey of global investors showed on Tuesday.

☆ Morning Bid: Don't break my heart
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +3 min

Sure, there are a few pundits warning about inflation, but the market is clearly screaming at the top of its lungs that inflation worries are misplaced." Economists polled by Reuters expect Tuesday's CPI reading to show headline prices and the core CPI gaining 0.5% and 0.4% month-over-month for January, respectively. Asian shares edged up on Tuesday, while the yen recouped losses as Japan nominated a new central bank governor. This would mark their first face-to-face talks after the United States shot down what it said was a Chinese spy balloon and other flying objects. Meanwhile, Qatari investors are preparing to make a bid to buy Premier League club Manchester United in the coming days, Bloomberg reported.

☆ Morning Bid: Wings of a Dove
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +5 min

U.S. President Joe Biden is expected on Tuesday to name Fed Vice Chair Lael Brainard to a top White House economic policy position, replacing National Economic Council Director Brian Deese. Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers. Brainard was seen as a powerful voice cautioning against over-aggressive Fed policy tightening. U.S. stock futures and world equities were higher on Tuesday, U.S. Treasury yields and the dollar were steady to lower. Euro zone economic growth slowed in the last three months of 2022 but avoided a contraction many had predicted for months.

MUMBAI, Feb 13 (Reuters) - Indian government bond yields are expected to trend higher this week, as sentiment stays bearish, but debt as well as the local currency will track U.S. and India inflation data. India's headline retail inflation print is due on Monday, followed by U.S. retail inflation on Tuesday. Bond yields jumped after the RBI highlighted core inflation concerns, keeping the door open for another hike. The rupee will take its cues from the U.S. inflation print and its impact on the dollar index, a trader with a private bank said. For the week, the currency could move between 82.10 and 82.80 unless the U.S. inflation data is a big surprise, dealers said.

India's annual retail inflation rate (INCPIY=ECI) rose to 6.52% in January from 5.72% in December, government data showed on Monday. January's retail inflation was above the Reserve Bank of India's upper targeted limit of 6% for the first time since October and much higher than the 5.9% estimate, according to a Reuters poll of 44 analysts. Food price inflation, which accounts for nearly 40% of the consumer price index (CPI) basket, rose to 5.94% in January from 4.19% in December. STICKY CORE INFLATIONIndia's core inflation in January was nearly flat at 6.09% to 6.10% from last month, according to two economists. "We expect core inflation to remain elevated in Feb-March given the ongoing pass-through of higher input costs by producers," said Aditi Nayar, chief economist at ICRA.

☆ Morning Bid: Bar-duh
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +3 min

And it was an own goal given the error was in a Twitter video put out by Google itself, ouch. Alphabet's shares sank almost 8%, wiping a cool $100 billion off its market cap, and dragging all of Wall Street down. "Monetary policy in Sweden is clearly more restrictive than in the Euro-area," they say. "If the ECB therefore ends up with a 3.25% terminal rate (our forecast), we think the Riksbank will not be able to follow suit and take the policy rate to 3.75%." Key developments that could influence markets on Thursday:- Riksbank rate decision and Feb monetary policy report due at 0830 GMT.

Summary Jan CPI at fresh 14-year high of 8.7%Faster-than-expected inflation raises odds of bigger rate hikeEconomic planning chief says inflation to moderate this yearMANILA, Feb 7 (Reuters) - Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices, raising the chance of the central bank delivering a bigger interest rate hike to tame prices when it meets this month. Given the faster-than-expected inflation in January, Bangko Sentral ng Pilipinas (BSP) looks certain to hike interest rates by at least 25 basis points and with a bigger 50 bps likely to be on the table, ING economist Nicholas Mapa said in a Tweet. The Philippines' broader stock index (.PSI) dropped 0.4% in early trade on expectations of a larger rate hike, while the peso had slipped 0.5% at 54.73 per dollar as of 0211 GMT. The main factor behind January's red-hot inflation was the 11.2% annual rise in food inflation, the quickest pace since 2009, and compared to the previous month's 10.6%, and the 1.6% rate in the same month last year. Elevated inflation, plus the need to maintain interest rate differentials between the U.S. and the Philippines, have forced the central bank to embark on aggressive tightening, with the benchmark rate (PHCBIR=ECI) rising by a total of 350 bps last year.

☆ Volkswagen considering battery cell factory in Ontario - Handelsblatt
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 31 (Reuters) - Volkswagen (VOWG_p.DE) is looking at setting up a battery cell factory in Ontario, Canada, the Handelsblatt business daily reported on Tuesday, adding that the province had offered investments and other incentives to win over the carmaker. Five entries from January 2023 are listed in a lobby register of the Canadian province for Volkswagen, including one that mentions Chief Executive Oliver Blume by name, the report said, citing the documents. The carmaker confirmed in December it was searching for a site for a battery cell plant in North America, and Blume said at the time that Canada was "one logical option". The documents seen by Handelsblatt said that Ontario wanted to be "considered in competition with other locations in consideration." Reporting by Jan C Schwartz, Victoria Waldersee, Writing by Rachel More, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Mind the gap
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

The IMF cited "surprisingly resilient" demand in the United States and Europe, easing of energy costs and the reopening of China's economy. Still, it would be wise for investors to be mindful of a gap between expectations and reality. Flash GDP numbers are due from the euro zone, along with growth data for France and Italy. The Bank of England is set to raise rates by 50 bps to 4.0%, respectively. Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points to 4.50%-4.75% on Wednesday.

Search resuls for: "Jan C"

25 mentions found