DIRS.INFO The most relevant business & tech news

☆ NY Republican leaders and lawmakers call on GOP Rep. George Santos to resign over campaign lies
▼ + stars: | 2023-01-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +8 min

“George Santos’ campaign last year was a campaign of deceit, lies and fabrication,” Nassau County GOP Chairman Joe Cairo said at a news conference with other party officials. But House Speaker Kevin McCarthy, R-Calif., said that Cairo’s call for Santos’ resignation doesn’t affect his thinking on the issue. The New York State Conservative party said it stands with the Nassau County GOP in calling for Santos’ resignation in a statement. It will work itself out in the end.”Nassau County GOP officials initially endorsed Santos in the 2022 election cycle. Wednesday's announcement from Nassau County officials also comes amid several investigations into Santos' campaign and other calls for him to resign.

☆ Biden's mishandling of classified records isn't as legally perilous as Trump's, but may pose serious national security risks
▼ + stars: | 2023-01-11 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +9 min

Trump's former White House lawyer told Insider that AG Garland should appoint a special counsel to investigate Biden. A source familiar with the matter told CNN that Lausch has finished the initial part of his investigation and presented his preliminary findings to Garland. Still, he criticized the White House for waiting more than two months to disclose the existence of the inquiry. "It appears that at least two of the aggravating factors, obstruction and willfulness, are present in the Trump case, but absent in the Biden case." Cobb, Trump's former White House counsel, went further, saying that drawing a distinction between the two cases is akin to "putting lipstick on a pig."

☆ What is the US getting in Ukraine for $100 billion?
▼ + stars: | 2023-01-10 | by ( Daniel L. Davis | Defense Priorities | ) www.businessinsider.com time to read: +6 min

In December, President Joe Biden signed a bill with another $47 billion in aid for Ukraine. The question: does adding this Patriot battery represent a game-changer for Ukraine? A Patriot battery ordinarily operates as part of an integrated defense system which may include numerous US and NATO systems. As exposed in 2019 when the Saudi-operated Patriot system failed to stop a complex aerial attack from Iran, the system is not fool-proof even when operational. Air Force via APIncluding this most recent aid package, the US has spent over $100 billion on the war in Ukraine, which is $16 billion more than the entire Russian military budget for 2023.

☆ There's one big problem with Nike's plan to sell sneakers directly to consumers — they still love to shop at Foot Locker and Dick's
▼ + stars: | 2023-01-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Since then, Nike's direct business has doubled, while its wholesale business has been flat. Last quarter, Nike's wholesale business at stores like Foot Locker grew faster than direct sales. In North America, wholesales increased 37%, while direct sales increased 23%. Since 2017, Nike's direct sales increased 106% to $18.7 billion, according to its last annual report. Nike's wholesale business now accounts for a little over half of sales, down from 72% in 2017.

☆ Thousands seeking asylum crowd Mexico refugee offices amid fears of a U.S. policy change
▼ + stars: | 2023-01-05 | by ( ) www.nbcnews.com time to read: +4 min

TAPACHULA/MEXICO CITY — Thousands of migrants have flocked to government offices in southern Mexico seeking asylum since the United States said it would keep restrictions used to quickly expel hundreds of thousands of migrants who have crossed the U.S.-Mexico border. Cuban migrant German Ortiz, who is waiting to apply for asylum in the Mexican city of Tapachula near the Guatemalan border, wants to make his way quickly to the United States. Title 42 was originally put in place to curb the spread of COVID, but U.S. health authorities have since said it is no longer needed for public health reasons. Ramirez said many migrants seek asylum to obtain documents they believe are necessary to traverse Mexico so they can then go to the U.S.-Mexico border later. Ramirez believed the mass of recent arrivals could be migrants from Cuba, Nicaragua and Haiti seeking to reach the United States before rules change.

[1/5] A government official talks to migrants waiting to regularize their migration status outside Mexico's Commission for Refugee Assistance (COMAR) in Tapachula, Chiapas state, Mexico January 3, 2023. Title 42 was originally put in place to curb the spread of COVID, but U.S. health authorities have since said it is no longer needed for public health reasons. Immigrant advocates say the policy is inhumane and it exposes vulnerable migrants to serious risks, like kidnapping or assault, in Mexican border towns. 'GIVE US A CHANCE'Police in Tapachula and the National Guard erected fences around COMAR offices to block large crowds of migrants, Reuters images show. Nearly 400,000 migrants were detained in Mexico through November, twice as many as in 2019, official data show.

☆ Regulators warn U.S. banks on crypto risks including 'fraud and scams’ after FTX collapse
▼ + stars: | 2023-01-03 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud. The comments come just weeks after the spectacular collapse of crypto exchange FTX. The regulators said the risks include: "fraud and scams among crypto-asset sector participants" and "contagion risk within the crypto-asset sector resulting from interconnections among certain crypto-asset participants." Now, about two months after the bankruptcy filing of FTX, the industry has been exposed as rife with poor risk management, interconnected risks and outright fraud. Traditional banks have largely sidestepped the crypto meltdown, unlike the 2008 financial crisis in which they played a central role.

☆ HBO documentary filmmaker says cable news 'ramped people up' for Jan. 6th and influencers like Alex Jones deserve jail time
▼ + stars: | 2022-12-28 | by ( Daniel T. Allen | ) www.businessinsider.com time to read: +8 min

He interviewed far-right figures, including Alex Jones, Enrique Tarrio, and supporters of QAnon. Andrew Callaghan interviewing Alex Jones on the set of Info Wars. You interviewed Alex Jones, Enrique Tarrio, and other fringe figures for "This Place Rules." Alex Jones makes millions of dollars selling brain pills, basically. I think the people who should be in jail for it are brainwashed content creators like Sidney Powell, Michael Flynn, Enrique Tarrio, and Alex Jones.

Frosty diplomatic relations between the United States and the governments of Cuba, Nicaragua and Venezuela have complicated deportations to those countries. The new rules for Cubans, Nicaraguans and Haitians would be modeled on an existing program for Venezuelans launched in October. Mexico has only accepted the expulsion of some nationalities, mostly Mexicans and Central Americans, under Title 42. Two officials said the policy shift for Cubans, Haitians and Nicaraguans could come as soon as this week. Close to half of those arrested were rapidly expelled under the Title 42 policy.

☆ Bulb bailout exposes UK’s pseudo power market
▼ + stars: | 2022-12-23 | by ( George Hay | ) www.reuters.com time to read: +4 min

Bulb is the biggest of dozens of flaky British power suppliers which opted not to hedge their future costs when energy prices were cheap. The Office for Budget Responsibility expects the saga to cost taxpayers 6.5 billion pounds. Octopus itself thinks the loan could be more like 2.4 billion pounds, as wholesale prices have recently fallen. If that’s correct, regular payments by Bulb customers will cover the cost. With retail power prices fixed and the government on the hook for higher wholesale costs, Britain’s privatised power industry is operating in anything but a free market.

When times are good, private debt investors do not need to sell, do not need the liquidity, and are comfortable with only periodic asset revaluations because the direction of travel is invariably upward. Within private markets, however, price discovery in debt is usually more regular and transparent. Analysts at UBS say private debt is typically valued on a monthly basis, compared with every quarter in private equity and up to once a year in REITs. EXIT DIFFICULTIESIn a high-inflation and rising interest rate environment, private debt offers relatively steady income because most products are floating rate. Equally, persistently high borrowing costs and Treasury yields puts a tighter squeeze on the economy, which would spell trouble for private debt.

☆ Department of Veterans Affairs sued over decision to offer abortion counseling and certain abortions to veterans
▼ + stars: | 2022-12-14 | by ( Devan Cole | ) edition.cnn.com time to read: +3 min

CNN —A nurse at a Department of Veterans Affairs medical facility in Texas sued the department Tuesday over its decision to offer abortions services in certain cases and abortion counseling to veterans, claiming the new rules violate her religious beliefs. Though the lawsuit is reportedly one of the first challenges to the new rule, it is not seeking to block the department from enforcing the policy nationwide. Instead, it asks the court to rule that the policy is illegal and unconstitutional and block the department from enforcing the policy at the facility in Temple. The state additionally has a civil enforcement law – authorizing private citizens to bring lawsuits against alleged violators in state court – for abortions performed after around six weeks into the pregnancy. These services are also offered to Civilian Health and Medical Program of the Department of Veterans Affairs beneficiaries.

☆ Inflation is falling. But the days when prices rose just 2% may never return
▼ + stars: | 2022-12-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Energy prices are pulling back because of fears of a global recession, and the price to ship a container across the ocean has plummeted. In the United States, consumer prices rose at an annual rate of 7.1% in November, the smallest increase since December 2021. Prices rose by 10.7% in the United Kingdom last month, down from 11.1% in October, according to data published Wednesday. But even if this bout of inflation has peaked, economists are warning the world may not return to simpler days when prices barely rose at all. At least for now, supply of critical minerals can’t keep up, which could force prices higher at times.

☆ 4 ways to make yourself more likable using body language, according to experts
▼ + stars: | 2022-12-12 | by ( Don Weber | ) www.businessinsider.com time to read: +6 min

The role of body language is often overlooked as a useful tool in persuasion. Lucky for you, you can change many straightforward things about your body language that will automatically enhance your likability. Isopraxis, or "body echoing," is a phenomenon where people replicate another person's body language. Like the previous body language gestures, pointing your feet towards a person you're interacting with will also encourage them to continue talking. You might be surprised to discover what your body language communicates to those around you.

☆ U.S. lawmakers press federal banking regulators on the industry’s exposure to crypto after Alameda stake in bank comes to light
▼ + stars: | 2022-12-08 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Top Senate Democrats pressed key banking regulators on possible ties between the industry and digital currency exchanges following the bankruptcy of major cryptocurrency firm, FTX. "Banks' relationships with crypto firms raise questions about the safety and soundness of our banking system and highlight potential loopholes that crypto firms may try to exploit to gain further access." Silvergate Capital Corp., Provident Bancorp Inc., Metropolitan Commercial Bank, Signature Bank, Customers Bancorp Inc. are among several noted banks experiencing heightened volatility after the FTX failure. "Banks' relationships with crypto firms raise questions about the safety and soundness of our banking system and highlight potential loopholes that crypto firms may try to exploit to gain further access to banks," the senators wrote. To better understand the banking industry's exposure to crypto, the senators asked for responses to a roster of questions, including all business relationships between FTX, Alameda and Moonstone, by Dec. 21.

☆ Analysis: EU avoids sledgehammer to crack euro clearing nut - for now
▼ + stars: | 2022-12-07 | by ( Huw Jones | ) www.reuters.com time to read: +6 min

EU financial services chief Mairead McGuinness has likened ending the bloc's heavy reliance on London for clearing euro contracts to weaning the EU off Russian gas so that Brussels builds "open strategic autonomy" in capital markets to safeguard financial stability. This will help build a more efficient market that makes relocation of clearing from London attractive, McGuinness said. Industry officials note EU based clearing liquidity in this contract would effectively need to be built up from scratch, which could take time. These conditions would mean that in practice EU banks will still be clearing some derivatives in London after June 2025. Nevertheless, EU banks still face systems changes to report and track how much is being cleared, a cost that UK and U.S. banks won't face.

☆ How to screen for colon cancer
▼ + stars: | 2022-12-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

A representative for Alley confirmed to CNN via email on Tuesday that she had been diagnosed with colon cancer prior to her death. Colorectal cancer, which includes colon and rectal cancers, is the second most common cause of death from cancer in 2022, outranked only by lung and bronchus cancer, according to the National Cancer Institute Surveillance, Epidemiology and End Results Program. Regular checkups are the best way to keep colon cancer at bay, according to the US Preventive Services Task Force. DNA stool test: A DNA stool test is another option, the society said. “You didn’t put the scope in yet, did you?” asked Couric, whose husband, Jay Monahan, had died from colon cancer at age 42 in 1998.

☆ Rare American lion fossils discovered in Mississippi
▼ + stars: | 2022-12-06 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +5 min

The Oxford, Mississippi, resident would soon learn it was a fossilized jawbone from a giant American lion, a species that has been extinct for roughly 11,000 years. ”A rare American lion fossil has been discovered near the Mississippi River. Three days after Prewitt’s find, the Mississippi Fossil and Artifact Symposium & Exhibition hosted an event featuring previously discovered American lion fossils. The American lion stood 4 feet tall at the shoulders and measured 5 to 8 feet in length. Two American lion bone discoveries within a week or so is unbelievable, he said, calling it “just an incredibly rare fossil.”A growing American lion collectionPrewitt plans to donate the fossil he found to the museum in Jackson, which would make it the fourth addition to the institution’s collection of American lion bones, counting the addition of the newly found femur.

☆ The death of an American soldier fighting in Ukraine exposes chaos and dysfunction in the foreign legion
▼ + stars: | 2022-12-03 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +12 min

The widow, alongside other soldiers, told Insider about mismanagement and dysfunction in the legion. A Foreign Legion fighter looks on at wreckage in Ukraine following a Russian attack. "When we were told to go out again, in my mind I knew someone was going to die," AJ told Insider. "How everything was handled, especially after his death, was scandalous," Lipka told Insider. Mavericks told Insider he suffers from post-traumatic stress disorder and still mourns the deaths of his comrades.

☆ Neither Russia nor Ukraine can control the air over Ukrainian battlefields, but their aircraft are still finding ways to operate
▼ + stars: | 2022-12-03 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

The Russian air force's performance in Ukraine has fallen well short of expectations before the war. Neither the Russia air force nor Ukrainian forces can control the skies over Ukraine, however. But Russian aircraft have never able to achieve air superiority over Ukraine. Right now, neither military can control the airspace over Ukraine, but pilots from both sides are still finding ways to operate. In Ukraine, Russian and Ukrainian aircraft often have to fire blindly or with only cursory attempts to aim at enemy targets before ducking down or veering off to avoid incoming fire.

☆ Chinese protesters are reacting to a broken social contract
▼ + stars: | 2022-12-01 | by ( Diana Fu | Diana Fu Is Associate Professor Of Chinese Politics At The University Of Toronto | Non-Resident Fellow At The Brookings Institution. She Is Author Of The Book | ) www.nbcnews.com time to read: +6 min

However, a deeper cause for this unrest is that the protesters are responding to a broken social contract between the Chinese Communist Party and the people. Despite swift censorship, a Chinese social media post referencing the incident had been viewed 180,000 times before it was deleted. With 20% youth unemployment, businesses closing, migrant workers left homeless and preventable deaths mounting, some Chinese citizens are withdrawing their consent to be ruled. Chinese protesters normally avoid such rhetoric, preferring to stick to bread-and-butter economic or local issues, which are more likely to yield concessions. It is significant that this time, Chinese protesters are borrowing a tactic from Hong Kong protesters in 2020 — holding up pieces of blank paper.

☆ Singapore Airlines extends its India runway
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

On Tuesday Singapore Airlines (SIAL.SI) and Indian conglomerate Tata agreed to merge their nine-year-old jointly owned carrier Vistara with Air India, whose enterprise was valued at $2.4 billion when Tata bought it just over a year ago. Air India, meanwhile, will get a deep-pocketed partner willing to inject as much as $615 million more in capital over the next couple of years, if needed. Singapore Airlines’ ability to finance the deal with cash speaks volumes about its strong financial position. In any event, its ability to upgrade its seat in India will serve Singapore Airlines well. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Ireland picks cheeky moment to lift bank bonus cap
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 30 (Reuters Breakingviews) - Ireland’s plan to lift a cap on bankers’ bonuses looks ill-timed. On Tuesday, Finance Minister Paschal Donohoe said Dublin will lift a 500,000 euro crisis-era cap on annual executive salaries and allow bonuses of up to 20,000 euros for bank workers. However, Irish bank bosses have long argued salary constraints made it difficult to retain top talent. The remaining big bank duopoly of AIB (AIBG.I) and Bank of Ireland (BIRG.I) means a customer backlash is unlikely as there is little alternative. Still, championing higher pay for bankers is a gutsy move in the middle of a cost-of-living crisis.

☆ Nestlé May Shed Peanut Allergy Treatment as Sales Disappoint
▼ + stars: | 2022-11-29 | by ( Denise Roland | ) www.wsj.com time to read: 1 min

Palforzia exposes patients to gradually higher doses of peanut powder. The treatment requires visiting a doctor every two weeks for four to five months. The world’s only approved peanut allergy drug has so far proved a flop. Nestlé SA said Tuesday it would explore strategic options for the treatment, effectively putting the drug up for sale, following lower-than-expected demand from doctors and patients. The move comes just two years after the packaged-food giant agreed to buy the developer of the drug, called Palforzia, in a $2.6 billion deal.

☆ Goldman Sachs names the global automakers exposed to a China slowdown
▼ + stars: | 2022-11-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Many global companies are heavily exposed to China, including some of the world's biggest automakers, which generate between 20% and 40% of their worldwide sales in the country, according to Goldman Sachs. Goldman Sachs has a $305 price target on Tesla, giving it potential upside of around 66% from its current share price of around $182. Mercedes-Benz Goldman Sachs estimates that Mercedes will sell 734,000 cars this year in China. Meanwhile, Volkswagen's joint-venture partner SAIC is sell-rated by Goldman Sachs, which gives it downside potential of 9%. General Motors Goldman Sachs estimates that nearly half of all cars GM sells worldwide will be in China between 2022 and 2024.

Search resuls for: "exposés"

25 mentions found