DIRS.INFO The most relevant business & tech news

☆ Australia joins global subsidy race with 'Future Made in Australia' plan
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +1 min

Australia will launch subsidies and incentives modelled on similar efforts in the United States and Europe to help the giant commodity exporter bolster domestic manufacturing and promote industries it sees as vital to national security. The "Future Made in Australia Act" will be unveiled by Prime Minister Anthony Albanese at a speech in Queensland state on Thursday. "Our Government will be proactive when it comes to backing Australia's comparative advantages and delivering on our national interests," Albanese will say. "Only Government has the resources to do that, only Government can draw together the threads from across the economy and around our nation." In the race to roll out clean energy and compete with China in manufacturing electric vehicles and semiconductors, seen as vital for economic prosperity and national security, governments in rich nations are spending billions on subsidies.

Persons: Darrian Traynor, Stringer, Anthony Albanese, Albanese Organizations: Getty Locations: Australia, United States, Europe, Queensland, China

BISMARCK, N.D. (AP) — North Dakota is set to take the federal government to trial Thursday for the costs of responding to the Dakota Access Pipeline protests, the culmination of an unusual and drawn-out court fight. The state filed the lawsuit in 2019, seeking $38 million from the federal government for policing the protests. In an interview, North Dakota Attorney General Drew Wrigley said the trial will show examples of numerous requests to the federal government for help and the “complete refusal” to offer resources and financial support in response. North Dakota relied on compacts to bring in law enforcement officers from around the region and the country for help, he said. The document laid out options of denying the easement and removing or abandoning the line's river segment, granting the easement with no changes or with additional safety measures, or rerouting the pipeline north of Bismarck.

Persons: Daniel Traynor, General Drew Wrigley, ‘, ” Wrigley, Kyle Kirchmeier, ”, Kirchmeier, North Dakota ”, Wrigley, Donald Trump Organizations: N.D, Dakota, Pipeline, U.S, North Dakota, U.S . Justice Department Locations: BISMARCK, North Dakota, Missouri, State, Morton, United States, Bismarck

☆ Regulator imposes trading halt on Canada hedge fund after founder's death
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The regulator said it was informed on Saturday that Christopher Callahan, the sole director, officer and shareholder of Traynor, was dead. His death leaves Traynor without a director or officer in charge of the firm. "As a result, the three dealers have potential losses totalling approximately C$85 million ($61.27 million) to C$95 million," the regulator added, without naming the dealers. The firm and one of Callahan's colleagues listed on its website did not immediately respond to requests for comment. A Toronto police spokesperson said Callahan's death was not considered suspicious and they were not investigating.

Persons: Traynor, Christopher Callahan, Nia Williams, Jamie Freed Organizations: The Ontario Securities Commission, Inc, OSC, CIBC, Markets Inc, Canadian Imperial Bank of Commerce, TR1, Thomson Locations: Toronto, British Columbia

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

☆ Shares of these 2 global stocks could soar over 30% as bankruptcies begin to rise, analysts say
▼ + stars: | 2023-08-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Company insolvencies are on the rise in Britain , and analysts are expecting two U.K.-based consultancies to be major beneficiaries. Earlier in the month, Begbies Traynor beat its rival and delivered a double-digit annual growth rate. Begbies Traynor Analysts expect Begbies Traynor's core insolvency division to benefit from rising U.K. insolvencies as economic conditions worsen. BEG-GB FRP-GB YTD line Analysts at Canaccord Genuity and Stifel echoed that view, saying that Begbies Traynor is strongly positioned, with over 80% of revenue derived from counter-cyclical insolvency services. The bank raised its forecasts for the firm's earnings for the rest of the year and expects FRP's stock to rise by 47% to £1.75.

Persons: Begbies Traynor, FRP, —, James Bayliss, Bayliss, Stifel, Sam Dindol, Berenberg Organizations: Bank of England, FRP, FRP Advisory Locations: Britain, United States, Canaccord

When the French interior designer Camille Vergnes throws a dinner party in Paris, she opts for unfussy white table linens and white plates. This allows her Art Deco-style set of serving spoons, salad servers and carving knives, all with almond green shagreen handles, to take center stage. “I use [the serving set] as the key piece of the table along with the flowers or candleholders,” she says. Vergnes’s approach reflects a shift in focus when it comes to tableware, away from handblown glassware and patterned napkins to sculptural utensils. - Host Gift Guide: What T’s editors and contributors are bringing to thank their hosts this summer, including surreal serving spoons and cozy quilts.

Persons: Camille Vergnes, ”, Olga Bonne, Alessandra Williams, Frank Traynor, Ben Bodman, Yann Nury Organizations: Fair Trade, Bodman, Credit Locations: French, Paris, Copenhagen, Danish, Brighton, British, Zimbabwe, Nairobi, United States, Melksham, Wiltshire, England, Ibiza, Long, Amsterdam

LONDON, July 13 (Reuters) - Britain's largest homebuilder Barratt Developments (BDEV.L) warned it would build far fewer homes this fiscal year as rising mortgage rates and stubborn inflation hit demand, sending its shares down more than 5% in early trading on Thursday. The FTSE 100-listed firm said it expected to build between 13,250 to 14,250 units in the year ending June 30, 2024, down from 17,206 homes the year before. Average two-year fixed mortgage rates hit a 15-year high earlier this week. Julie Palmer, partner at Begbies Traynor, said Thursday's trading update underlined the impact of rising rates on homebuyers, construction firms and other businesses linked to the housing market. High-end housebuilder Berkeley (BKGH.L) last month forecast a 20% drop in house build sales for its current fiscal year.

Persons: Barratt, Julie Palmer, Begbies Traynor, Suban Abdulla, Aby Jose Koilparambil, Sherry Jacob, Phillips, Kate Holton, Elaine Hardcastle Organizations: Thomson Locations: London, Bengaluru

☆ Formula One under scrutiny over balance between safety and entertainment
▼ + stars: | 2023-04-03 | by ( Ian Ransom | ) www.reuters.com time to read: +4 min

Stewards had hoped racing would decide the winner but the carnage only served to trigger a third red flag and a processional win behind a safety car for Red Bull's Max Verstappen. DAMAGE BILLSStriking the right balance between safety and sport has long challenged Formula One, which moved to tighten its safety car rules after controversy hit the title-deciding 2021 Abu Dhabi Grand Prix. Officials no longer have such discretion but the application of safety car rules continues to flummox drivers and team bosses alike. Mercedes boss Toto Wolff said he was not sure when to expect a standard safety car versus a virtual one or a red flag after incidents. "Standing starts are the most vulnerable part of any grand prix and we did three of them," said Red Bull boss Christian Horner.

LONDON/FRANKFURT, Jan 27 (Reuters) - Rising borrowing costs are giving a long-awaited lift to Europe's beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. But while rising rates are good news for bank profits, they herald a slowdown in an economy hit by war and runaway prices that squeeze borrowers and could prick pricing bubbles, most notably in property. "On the one hand, interest rates are going up, which is good and helps banks," said Jerome Legras of Axiom Alternative Investments. Germany's financial regulator BaFin recently warned that a rapid rise in interest rates could weigh on some banks, and that loans may sour.

☆ Virat Kohli shines as India beats Pakistan in T20 World Cup cliffhanger
▼ + stars: | 2022-10-23 | by ( Reuters Staff | ) edition.cnn.com time to read: +2 min

Virat Kohli struck an imperious half-century and Ravichandran Ashwin was cool at the death as India secured a four-wicket win on the final ball against arch-rivals Pakistan at the T20 World Cup on Sunday in front of a huge Melbourne Cricket Ground crowd. Kohli was bowled off the free hit on the next ball but the ball rattled for three byes off the stumps. Fans show their support during the ICC Men's T20 World Cup match between India and Pakistan at Melbourne Cricket Ground. “All credit to Hardik Pandya and Virat Kohli,” said Pakistan captain Babar Azam. “They shifted the momentum and finished the game well … We had a chance, and we just asked the boys to believe in themselves, but again credit to Virat Kohli.”

Search resuls for: "Traynor"

10 mentions found