DIRS.INFO The most relevant business & tech news

☆ Here's how inflation has ratcheted up the cost of basics like housing and food for families across the US
▼ + stars: | 2024-06-27 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

ALICE Americans make above the federal poverty level but not enough to comfortably afford all their daily expenses, often making too much to qualify for government assistance. The ALICE Essentials Index, which includes housing, childcare, food, transportation, healthcare, and technology costs, has risen by a projected 7.3% annually from 2021 to 2023; comparatively, CPI has risen by 6.1%. The ALICE Essentials Index for rural areas was slightly higher than that for urban areas, at 7.5% and 7.2%, respectively. "Long before everybody else was upset about inflation, ALICE was dealing with inflation," Hoopes said. Still, ALICE Americans tend to be overrepresented in these roles, as many pay below the ALICE threshold of about $55,000 a year.

Persons: —, ALICE —, ALICE Americans, ALICE, Stephanie Hoopes, United For ALICE, Hoopes, There's Organizations: Service, Business, CPI, United For, United Locations: West, Georgia, Florida, South Carolina, Midwest, Northeast

☆ After a year of plateauing, OpenAI's ChatGPT website is on track to see more than 2 billion visits this month
▼ + stars: | 2024-05-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +1 min

Visit to the chatbot's website peaked in May of 2023 and had stagnated since then. A year later, the website is on track to far surpass that, averaging about 77 million daily visits so far this month. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter a year of stagnation, OpenAI's ChatGPT is on track to set a new record for web traffic this month. In the first three weeks of May, the website for OpenAI's popular chatbot averaged about 77 million daily visits and is on track to surpass 2.3 billion total visits for the month, according to data from web analytics company Similarweb.

Persons: ChatGPT, —, Scarlett Johansson Organizations: Service, Business

1s ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT ‘We Are Never Ever Getting Back Together’ (2012) 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT ‘We Are Never Ever Getting Back Together’ (2012) 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 Two bar charts: one for the Beatles, one for Taylor Swift. 30 15 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 ‘Thriller’ 15 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 ‘Thriller’ 15 ‘Fearless’ ‘1989’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 15 5 Not yet certified MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 15 5 Not yet certified MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 30 million 15 15 million 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million ‘1989’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million ‘1989’ ‘1989 (Taylor’s Version)’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES A grid of 10 Michael Jackson albums covers transitions into charts depicting Michael Jackson’s and Taylor Swift’s album sales. 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES ‘... Baby One More Time’ 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES ‘1989’ 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES Two side-by-side charts depict album sales for Britney Spears and Taylor Swift. 1s ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 ‘Vogue’ (1990) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 ‘This Used To Be My Playground’(1992) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 10 5 ’06 ’24 10 ‘Music’ (2000) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 Two charts show Billboard top hits for Madonna and Swift, over the course of their respective careers. 15 million 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million ‘I Am ... Sasha Fierce’ 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million ‘The Tortured Poets Department’ 10 ‘Cowboy Carter’ 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES Two side-by-side charts depict album sales for Beyoncé and Taylor Swift, respectively.

Persons: Taylor Swift, Michael Jackson, ”, Swift, Frank Sinatra, Stevie Wonder, Paul Simon, Drake, Billy Joel, Britney Spears, Bruce Springsteen, Elton John, Kareem, Brady, Marino, Harry Potter, TAYLOR, TAYLOR SWIFT, Swift’s, didn’t, Max Martin, John Lennon, Paul McCartney, McCartney, George Harrison, “, Taylor, Jackson, MICHAEL JACKSON, ’, Michael Jackson’s, …, “ Ben ”, —, Jackson’s, Micheal Jackson, It’s, she’s, Department ”, Spears, BRITNEY SPEARS, Spears’s, Madonna, Dick Tracy ”, Evita, I’m, David O, “ Ray, Bob Dylan, John, Springsteen, Elton John Farewell, Bruce Springsteen Springsteen, Elton John’s, Bruce Springsteen’s Springsteen, Madonna’s, it’s, Beyoncé, Georg Solti, Quincy Jones, It's, Madonna didn’t, Judy Garland, Barbra Streisand, Sinatra, — Beyoncé, Sasha Fierce, Carter ’, Carter ”, Cowboy Carter, DRAKE, Kendrick Lamar, they’re, gunning, she’ll Organizations: Poets Department, MetLife, Beatles, “, Marvel, Billboard, TAYLOR SWIFT, U.S, Swift, MTV, Recording Industry Association of America, Department, Vogue, Veterans Touring, Drake, Beyoncé, Beyoncé’s Locations: New Jersey, U.S, Kobe, ”, “, pigtails, Amsterdam, Texas

☆ A woman who lost 55 pounds by making 2 simple changes shared 10 fat loss lessons she learned
▼ + stars: | 2024-05-06 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +7 min

This time, she wanted to get healthier and lose weight in a way that was sustainable. Tjelle's experience is a reflection of how approaches and attitudes toward weight loss are changing. Tjelle, now 30, shared the 10 fat loss and fitness lessons she's learned during her journey. Walking is great for fat loss"Walking was by far the most effective exercise for weight loss early in my weight loss journey," Tjelle said. You won't always feel motivatedFor the first few months of her weight loss journey, Tjelle really didn't want to go to the gym, she said.

Persons: —, Megan, Tjelle, she's, Megan Tjelle, Patience Organizations: Service, Business, Research Locations: Chicago, Seattle Sutton

☆ How Instagram is beating TikTok
▼ + stars: | 2024-03-18 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +2 min

The app far outpaced TikTok in global downloads last year, according to data from market intelligence firm Sensor Tower. Instagram downloads increased by 20% in 2023 compared to the previous year, Sensor Tower estimated. The simplest explanation is that Instagram's short-video product, reels, is pretty much just as good as TikTok at this point. "Instagram already has reels, and it already caters to a broader audience because it has those other social-media features," explained Abe Yousef, a senior insights analyst at Sensor Tower. Both TikTok and Instagram did not respond to a request for comment.

Persons: Instagram isn't, TikTok, Instagram, it's, Abe Yousef, Mark Zuckerberg, Adam Mosseri, Yousef Organizations: Business

☆ Instagram is playing the long game against TikTok, and it's winning
▼ + stars: | 2024-03-14 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +2 min

The app far outpaced TikTok in global downloads last year, according to data from market intelligence firm Sensor Tower. Instagram downloads increased by 20% in 2023 compared to the previous year, Sensor Tower estimated. The simplest explanation is that Instagram's short-video product, reels, is pretty much just as good as TikTok at this point. And unlike TikTok, it's been careful lately not to shove unpopular features like shoppable videos in users' faces. Both TikTok and Instagram did not respond to a request for comment.

Persons: —, TikTok, Instagram, it's, Abe Yousef, Mark Zuckerberg, Adam Mosseri, Yousef Organizations: Service, Business

☆ Viking stock doubled Tuesday. Here's where the next moves in the obesity space could come from
▼ + stars: | 2024-02-27 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

VKTX YTD mountain Viking shares year to date Then, Viking shares more than doubled in trading on Tuesday, putting the stock on pace to report a more than 300% year-to-date gain, after the company said its GLP-1/GIP receptor agonist VK2735 hit all its primary goals in a phase 2 clinical trial. The Tema Cardiovascular and Metabolic ETF (HRTS) , which is up 12% year to date, owns Novo, Lilly and Viking. Still early days Some analysts and investors admit it is still very early days for obesity treatment and many questions remain to be answered. "We continue to expect above consensus growth in the space, as we are bullish on adoption from payers and broader obesity uptake," Meacham wrote. For obesity only, Lilly has already gained a 38% share, despite only being in the market for 13 weeks, he said.

Persons: Eli Lilly, Geoff Meacham, Meacham, Lilly, Yuri Khodjamirian, Khodjamirian, Jeff Jonas, Becton Dickinson, Novo, BofA's Meacham, What's, Tema's, it's, Gabelli's Jonas, he's, William Blair, Andy Hsieh, Hsieh Organizations: Novo Nordisk, Bank of America, Centers for Disease Control, Zealand Pharma, Viking Therapeutics, Zealand, Food and Drug Administration, Novo, Metabolic, Therapeutics, Pharmaceuticals, Rock, AstraZeneca, Roche, Gabelli Funds, FDA, Viking, Merck, Pfizer Locations: U.S, Tema, Novo Nordisk's, GLP, Lilly

☆ A doctor lost 50 pounds on a healthy diet and another 30 pounds on Mounjaro. She says weight loss drugs may be the 'easy way out' — but so what?
▼ + stars: | 2024-01-31 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +7 min

After consulting her doctor, she lost another 30 pounds off-label on the diabetes drug Mounjaro, which is now marketed for weight loss as Zepbound. Advertisement"It was really kind of life-changing to me because it was just so easy and so natural to lose weight," Grunch told Business Insider of taking Mounjaro. AdvertisementPeople shouldn't be judged for taking weight loss drugsWhen Grunch, who shares insights into her life with her 1.8 million Tiktok followers, started losing weight, viewers speculated she was on weight loss drugs and accused her of taking the "easy way out." Oprah Winfrey , for example, told a panel in last September that she thought weight loss drugs were "the easy way out," but revealed she was taking one in December. AdvertisementThere is a huge amount of research, such as this 2014 study , showing that shaming people into weight loss doesn't work, and in fact leads to further weight gain.

Persons: —, Mounjaro, Betsy Grunch, JP Morgan, Grunch, wasn't, shouldn't, Oprah Winfrey, Winfrey Organizations: Service, Business, Research

☆ Meet the 'nones': More Americans are religiously unaffiliated. Who are they?
▼ + stars: | 2024-01-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

In 2023, Pew found 28% of Americans fell into the nones category, which includes people who, when asked about their religion, say they are atheists, agnostics, or "nothing in particular." Nones tend to be younger than the religiously affiliated, and they are more likely to identify as liberal. "Some 'nones' have a very negative view of religion, but 'nones' on the whole express mixed views rather than outright hostility," the report said. Pew researchers noted that the number of nones fell 3 percentage points last year from 31% in 2022. Pew conducted interviews with 3,317 respondents who were classified as religious nones.

Persons: —, Pew, nones, It's Organizations: Service, Business, Pew Research Center, Pew Locations: nones

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, GM, Uber, Carvana, Nike, Palo Alto & more
▼ + stars: | 2023-12-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Wells Fargo downgrades Lululemon to equal weight from overweight Wells said in its downgrade of the stock that it sees less balanced risk/reward. Morgan Stanley downgrades Sea Limited to equal weight from overweight Morgan Stanley downgraded the Singapore-based tech conglomerate until its business outlook is clearer. Morgan Stanley upgrades Insulet to overweight from equal weight Morgan Stanley initiated the insulin pump therapy company and said it sees room for further gains. Wells Fargo reiterates Nike as overweight Wells says Nike is a top defensive pick for 2024. Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said Palo Alto shares have the poten tial to rise further.

Persons: Morgan Stanley, Mizuho, Wells, LULU, Roth, Evercore, Piper Sandler, Piper, NVDA, Goldman Sachs, Goldman, it's bullish, KeyBanc, Worthington Enterprises –, TD Cowen, Coinbase, underperform TD Cowen, Oppenheimer, Uber, Truist, Herc, Palo Organizations: West Bancorp, Bank of America, Union Pacific, US Bancorp, Motors, Mizuho, GM, UAW, UBS, Apple, Deutsche Bank downgrades Anheuser Busch InBev, Deutsche, Deutsche Bank, Airlines, Alaska, " Bank of America, Google, Walmart, Nvidia, AMD, European Partners, Coke, JPMorgan, of America, Magellan, MMP, Arrowhead Pharmaceuticals, Arrowhead Pharma, Worthington Steel, Worthington Industries, Worthington Enterprises, Barclays, Resources, Herc Holdings, United Rentals, Nike, Palo Alto, Palo Locations: China, Singapore, Indonesia

☆ Citi expects this underperforming oil and gas stock to turnaround next year with 16% upside
▼ + stars: | 2023-11-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Investors should take a second look at the oil and gas exploration company Ovintiv , according to Citibank. Ovintiv's stock collapsed earlier this year and is down near 12%, underperforming the S & P Oil & Gas Exploration & Production ETF which is up 2% for year. Citi believes Ovintiv's performance in early 2024 will improve with the investment bank putting oil and condensate production 2% above consensus estimates. Ovintiv's production plateau will rise after assessing performance on wells acquired in the Midland acreage earlier this year, according to Citi. Meanwhile, Citi downgraded APA Corp, an oil and gas company with a similar market cap to Ovintiv.

Persons: Scott Gruber Organizations: Citibank, P Oil & Gas Exploration, Citi, APA Corp, APA Locations: Midland, Egypt

U.S. President Joe Biden and China’s Xi Jinping, who met in San Francisco on Wednesday, may disagree on the terminology. Barely half the manufactured goods imported into the United States from low-cost Asian countries now come from China. Chinese firms have raised just $529 million from initial and secondary stock offerings in the United States in the year to mid-October. But the conscious decoupling between the U.S. and China looks set to continue. Follow @ugalani and @a_fitri_alias on XCONTEXT NEWSU.S. President Joe Biden and Chinese President Xi Jinping met on Nov. 15 in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation forum.

Persons: Xi, Joe Biden, Kevin Lamarque, friendshoring, China’s Xi Jinping, Breakingviews, Donald Trump, China’s ByteDance, Reuters Graphics Reuters Graphics Goldman Sachs, Xi Jinping, Una, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: U.S, Economic Cooperation, REUTERS, Rights, Reuters, People’s Republic . U.S, People’s, World Trade Organization, Reuters Graphics Reuters, FRAYING FINANCE, U.S . Federal Reserve, Federal, Investment Board, HK, Republican, Reuters Graphics Apple, United, Reuters Graphics Reuters Graphics, Thomson Locations: Filoli, Asia, Woodside , California, U.S, Rights MUMBAI, United States, China, Washington, People’s Republic ., San Francisco, People’s Republic, Southeast Asia, Hong Kong, That’s, New York, Greater China, India, TAIWAN, Taiwan, Una Galani, Mumbai, London

☆ Mercedes-Benz USA CEO on first dedicated EV charging hub: We are convinced the future is electric
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercedes-Benz USA CEO on first dedicated EV charging hub: We are convinced the future is electricCNBC’s Phil LeBeau and Mercedes-Benz USA CEO Dimitris Psillakis joins 'Squawk Box' to discuss the company's first dedicated EV charging hub in North America, the future of electric vehicles, concerns over plateauing EV sales, and more.

Persons: Phil LeBeau, Dimitris Psillakis Organizations: Mercedes, Benz, EV Locations: North America

☆ Cramer on why the emperor of this market has been naked long enough: Unpacking Apple, Amazon, Meta and Alphabet
▼ + stars: | 2023-11-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

You think and think and think, and you still can't believe that things changed so radically in such a short period of time. So, let's pull apart Apple, Amazon, Meta and Alphabet to try to understand how unimportant what actually happened at these companies might be. Instead, Apple stock has climbed roughly 5% since it reported quarterly results on Nov. 2. Meta stock fell to $288 a share, down from $314, in a couple of sessions just because of that line in its earnings report. But like Apple and Amazon, Meta stock stabilized and has risen more than 14% since late October.

Persons: —, Lina Khan's, let's, Khan, Apple, Jim Cramer's, Jim Cramer, Jim, Alexi Rosenfeld Organizations: Apple, U.S . Federal Trade Commission, NFL, Amazon, Web Services, Google, YouTube, Amazon Web Services, Meta, Microsoft, Federal, Treasury, Procter & Gamble, CNBC, Getty Locations: wearables, Philippines, Indonesia, Brazil, Vietnam, China, Israel, Gaza, GOOGL, New York City

☆ India and Japan will be Asia's next power couple
▼ + stars: | 2023-10-19 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

Indian Prime Minister Narendra Modi welcomes Japan Prime Minister Fumio Kishida upon his arrival at Bharat Mandapam convention center for the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Evan Vucci/Pool via REUTERS Acquire Licensing RightsBENGALURU, Oct 19 (Reuters Breakingviews) - India and Japan are edging closer. Prime Minister Narendra Modi and Prime Minister Fumio Kishida's governments form part of the so-called Quad security grouping with the United States and Australia to counter Chinese expansionism in Asia. Now the two countries are setting up an investment fund together. That’s delivering on a pledge by Kishida to invest 5 trillion yen, or some $42 billion, into India over the next five years.

Persons: Narendra Modi, Fumio Kishida, Evan Vucci, Fumio, Kishida, Wood Mackenzie, Sajjan Jindal, India’s, Lakshmi Mittal, JBIC, Una Galani, Thomas Shum Organizations: Indian, Japan, Bharat, REUTERS Acquire, Rights, Reuters, National Investment, Infrastructure Fund, Japan Bank, International Cooperation, Japan External Trade Organization, Nippon Telegraph, Telephone, Reuters Graphics, Teck Resources, Nippon Steel, ArcelorMittal, Japan Fund, Thomson Locations: New Delhi, India, Japan, United States, Australia, Asia, Reuters Graphics India, China, Russia, South, Teck, Indian

☆ IRONMAN World Championship: After a life-changing diagnosis, Cyril De Pistoia is embracing his ‘second chance at life’
▼ + stars: | 2023-10-15 | by ( Ben Church | ) edition.cnn.com time to read: +8 min

Del Pistoia had been travelling a lot between France and the US for work and began feeling more fatigued than usual. However, to decrease the likelihood of the cancer returning, Del Pistoia underwent a bone marrow transplant. Then, after being able to stand up, I was able to walk.”Recovery was slow but, bit by bit, Del Pistoia started to rebuild his life. Exciting futureNow, with a IRONMAN World Championship race in the bag, Del Pistoia is on the hunt for more challenges. Away from sport, Del Pistoia has recently qualified as a seaplane pilot and wants to use his platform to raise awareness and improve accessibility for those living with disabilities.

Persons: Cyril Del Pistoia, Frenchman, Del, ”, ” Del, Del Pistoia, “ You’re, Donald Miralle, “, I’ve, couldn’t, hasn’t, they’re Organizations: CNN, CNN Sport, Frenchman, Del, Nice Locations: Del Pistoia, Nice, France, ” Del Pistoia, Canada, Australia

Home prices rose 0.6% in July, holding their own amid high mortgage rates and a low supply of houses for sale, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. On an annual basis, the national index is now up 1% from a year ago. “Areas in the Midwest continue to lead the national gains given their relative affordability. Markets that saw home prices reset following the recent surge in mortgage rates are expected to see stronger gains over the next 12 months, particularly those in the West,” Hepp added. While mortgage rates that have recently topped 8% for a 30-year fixed rate loan are dampening demand, a shortage of homes for sale is keeping prices high.

Persons: ”, Craig J, Lazzara, ” Selma Hepp, ” Hepp, Today’s, Danielle Hale, “ Locations: Chicago, Cleveland, New York

☆ In case you missed Facebook's incredibly subtle logo change, Meta has a 1,600-word explanation for you
▼ + stars: | 2023-09-22 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Parent Meta dedicated 1,600 words to announcing this and other subtle changes in a blog post on Wednesday. I think it's going to take more than a deeper shade of blue to reverse Facebook's dwindling appeal in its home market. Users on X are already poking fun at the change, and comparing it to other incredibly subtle updates. To be sure, Facebook's logo change marks a stark contrast to other moves, like Twitter's controversial rebrand to X — or its parent company's rebrand from Facebook to Meta in 2021, amid deep public backlash against the company. But I can't help but wonder if the subtle and incremental change is a sign of Facebook's waning relevance.

Organizations: Facebook, Service, Meta, Pew Research Locations: Wall, Silicon, Canada, Europe

On Monday, the UAW held talks with Stellantis though no deal was reached. About 12,700 UAW workers are on strike as part of a labor action targeting three U.S. assembly plants - one at each of the Detroit Three - after the prior four-year labor agreements expired. He said the UAW is ready to do what was necessary when asked whether it would extend the strike to other plants this week. Ford has an assembly plant and two engine plants in Canada with a total of about 5,000 union workers. Shares of BlueScope Steel (BSL.AX) slipped to an over three-month low as the strike weighs on its North American business.

Persons: Hakeem Jeffries, Rebecca Cook, plateauing, Shawn Fain, Fain, Unifor, Ford, Janet Yellen, Biden, Yellen, Stellantis's Ram, David Shepardson, Ben Klayman, Doina Chiacu, Deepa Babington, Alexander Smith Organizations: Democratic, U.S . House, United Auto Workers, Ford Motor Michigan, Plant, Wayne , Michigan U.S, REUTERS, Detroit Three, Union, General Motors, Ford, UAW, Detroit, MSNBC, CNBC, Ford Bronco, Chevrolet, Michigan Bronco, GM's, Silverado, BlueScope, Reuters, Thomson Locations: Wayne , Michigan, Canada, Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, North America, Michigan

☆ EVs are running out of customers — and some dealers don't want them anymore
▼ + stars: | 2023-08-23 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementMore electric vehicles are being pumped out of car factories than ever before – but some dealers don't want them. Electric car inventory has been piling up on dealership lots this year as companies up their EV production, leading some dealers to say enough is enough. Some are telling automakers they don't want any more until they can sell what's sitting, several dealers told Insider. AdvertisementAdvertisementIn the EV plateau, dealers are left in the lurchIn this round of growing pains for the electric car market, dealers are set up for the most trouble . "Dealers know in real time with real-time feedback what the market is doing," Karl Brauer, an automotive analyst for iSeeCars, previously told Insider.

Persons: Scott Kunes, Kunes, It's, Sam Fiorani, Fiorani, EVs, Tesla, Adam Lee, he's, Lee, Karl Brauer Organizations: Morning, Kunes, RV Group, Nissan, Mitsubishi, AutoForecast Solutions, Coast Ford, Midwest, Hyundai, Lee Auto, iSeeCars Locations: Detroit, West Coast, Maine

☆ Oversold or overbought? Here's where our 6 tech mega-caps stand — plus our takes
▼ + stars: | 2023-08-10 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Examining overbought or oversold stock levels could be helpful signals for investors looking to add or reduce exposure in a position. When evaluating these names, Bespoke reviewed the standard deviations above or below each stock's 50-day moving average. If a stock is one or more standard deviation above its 50-day moving average, it's classified as overbought. If it's more than one standard deviation below its 50-day moving average, it's oversold. Two or more standard deviations away from the 50-day moving average is classified as an "extreme" overbought or oversold reading.

Persons: —, it's oversold, Paul Hickey, We're, Jim Cramer, Jim, Larry Williams, we'll, Jim Cramer's, Justin Tallis Organizations: Charitable, Investment, Apple, Microsoft, Nvidia, Big Tech, Data Center, Facebook, Meta, Amazon, Amazon Web Services, CNBC, Getty Locations: MSFT, EU

☆ News Corp beats profit estimates on cost cuts, touts AI boost to future sales
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

Aug 10 (Reuters) - Rupert Murdoch's News Corp (NWSA.O) on Thursday beat quarterly profit estimates thanks to its cost-cutting efforts and talked up how generative artificial intelligence will support future results. For the first time, digital revenue accounted for over half of the company's total revenue for the full year, News Corp said. Higher digital subscription revenue in its fiscal fourth quarter helped News Corp absorb the impact of a 11.5% decline in advertising revenue. Revenue in its professional information business, which includes data and analytics platforms such as Oil Price Information Service, rose 10%. Excluding items, News Corp earned 14 cents per share, beating estimates of 8 cents, according to Refinitiv data.

Persons: Rupert, Robert Thomson, OpenAI, Thomson, Chavi Mehta, Dawn Chmielewski, Anil D'Silva, Stephen Coates Organizations: Rupert Murdoch's News Corp, News Corp, Sunday Times, Wall Street, Associated Press, Corp, Revenue, Price Information Service, New York Times Co, Fox Corp, Thomson Locations: Bengaluru, Dawn, Los Angeles

☆ China's gasoline demand peak nears as EV boom hastens transition
▼ + stars: | 2023-07-28 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +5 min

The International Energy Agency (IEA) and consultancy Rystad Energy have brought forward forecasts of China's peak gasoline demand by about a year to 2024, while Chinese state majors PetroChina and Sinopec (600028.SS) see it in 2025. The earlier halt in gasoline demand growth in the world's No. Reuters GraphicsAs a result of accelerating EV sales, Paris-based IEA now expects Chinese gasoline demand to peak in 2024 at about 3.7 million barrels per day (bpd), bringing forward an earlier projection of demand plateauing in 2025/2026. The research arm of China's state refiner CNPC expects gasoline demand to peak in 2025, citing accelerating sales of EVs, and sees gasoline demand shrinking 2.3% annually between 2026 and 2030. China's massive move into petrochemicals is already causing a glut globally, prompting companies to shift investments to high-end energy transition materials.

Persons: Aly, refiners, Toril Bosoni, EV's, Gaurav Batra, Mukesh Sahdev, Ma Yongsheng, Mohi Narayan, Carman Chew, Matthew Chye, Chen Aizhu, Zoey Zhang, Andrew Hayley, Florence Tan, Sonali Paul Organizations: Porsche, Auto Shanghai, REUTERS, International Energy Agency, Rystad Energy, China Association of Automobile Manufacturers, Reuters Graphics, Reuters, China, Shenghong Petrochemical, Energy, Graphics, Thomson Locations: Shanghai, China, Jan, Sinopec, Asia, Reuters Graphics China, Paris, U.S, North America, India, Sun, New Delhi, Singapore, Beijing

☆ About 40% of the world's population is now on Facebook — but most of the new users came from outside the US and Canada
▼ + stars: | 2023-07-27 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Facebook now has 3 billion monthly users, but most of the growth came from outside the US and Canada. And while the app's monthly users have more-or-less increased quarter on quarter, there were panic signals when Facebook's daily active users shrank for the first time in the app's history in the last quarter of 2021. Facebook's monthly active users in the US and Canada increased by only around one million, while it actually dropped by two million in Europe, per the company's earnings presentation. The largest increase in Facebook users came from the Asia-Pacific region and the rest of the world, at around 25 and 16 million monthly active users, respectively. The app amassed over 100 million users within its first five days.

Persons: That's, it's, —, Meta, Insider's Jyoti Mann Organizations: Facebook, Meta, Twitter, Bloomberg Locations: Canada, Europe, Asia, Pacific

☆ South Africa nearing end of daily power cuts, minister says
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

Summary Electricity minister said summer could see no blackoutsCountry's power generation almost meeting demand, he saidWorst scenario of peak winter demand has not materialisedJOHANNESBURG, July 2 (Reuters) - South Africa's electricity minister said on Sunday the country was closer to ending daily power cuts as warmer weather returns towards the end of the year, but declined to give a specific date. South Africa is on course to see its most blackout days in history this year with daily power cuts extending to almost 10 hours a day, affecting businesses and households in an economy already hobbled by high interest rates and inflation. The power cuts, called loadshedding locally, is expected to shave off 2 percentage points from GDP this year, the central bank said last month. The capacity available is plateauing around 29,000 MW, giving enough room to bring the power cuts down to Stage 3, where 3,000 MW are taken off the grid, leading to between two and fours hours of daily power cuts, the minister added. South Africa implements power cuts in stages from one to eight with eight being the highest and translating into over 10 hours of daily power cuts.

Persons: Kgosientsho Ramokgopa, Ramokgopa, Promit Mukherjee, Alison Williams Organizations: Electricity, Thomson Locations: JOHANNESBURG, South Africa

Search resuls for: "plateauing"

25 mentions found