DIRS.INFO The most relevant business & tech news

☆ Car Shopping Ain’t Broke, So the FTC Will Fix It
▼ + stars: | 2023-06-02 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Holman W. Jenkins Jr. is a member of the editorial board of The Wall Street Journal. Mr. Jenkins joined the Journal in May 1992 as a writer for the editorial page in New York. In February 1994, he moved to Hong Kong as editor of The Asian Wall Street Journal's editorial page. Mr. Jenkins won a 1997 Gerald Loeb Award for distinguished business and financial coverage. Born in Philadelphia, Mr. Jenkins received a bachelor's degree from Hobart and William Smith Colleges and a master's degree in journalism from Northwestern University.

Persons: Holman W, Jenkins, Mr, Gerald Loeb, William Smith Organizations: Street, William, William Smith Colleges, Northwestern University, University of Michigan Locations: New York, Hong Kong, San Francisco, Philadelphia, Hobart

☆ UK house prices fall by most since 2009, higher rates to bite-Nationwide
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 1 (Reuters) - British house prices fell by the most since 2009 in the 12 months to May and the country's housing market faces further headwinds after a recent jump in borrowing costs, mortgage lender Nationwide said on Thursday. Compared with May last year, the average house price was down 3.4% after a 2.7% annual fall in April, Nationwide said. House prices edged down by 0.1% in May from April after a monthly 0.4% rise in April, Nationwide said. Martin Beck, an economist with the EY Item Club, a forecasting group, said the 4% fall in house prices from last August's peak was modest compared with the 7% rise in house prices over the past two years. Analysts at Capital Economics said prices would fall another 8% while Pantheon Macroeconomics said they would drop 4%.

Persons: Liz Truss's, Headwinds, Robert Gardner, Gardner, Martin Beck, BoE, Beck, William Schomberg, Muvija M, Paul Sandle, Christina Fincher Organizations: Nationwide, Bank of, Capital Economics, Thomson Locations: Bank, Bank of England

☆ More Oath Keepers convicted of sedition in US Capitol attack face sentencing
▼ + stars: | 2023-06-01 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +4 min

Federal prosecutors are asking U.S. District Judge Amit Mehta to sentence Roberto Minuta and Edward Vallejo to 17 years in prison each after they were convicted in January alongside two other Oath Keepers members. If the judge follows that recommendation, those would be the second-longest sentences for any of the 1,000-plus people charged in the Capitol attack that was intended to block Congress from certifying Democrat Joe Biden's November 2020 election victory over the Republican Trump. Oath Keepers founder Stewart Rhodes, convicted in November of seditious conspiracy and other charges, was sentenced by Mehta last week to 18 years in prison, the longest of any of the sentences. Prosecutors said he stayed at a suburban Virginia hotel where the Oath Keepers had staged a "quick reaction force" and stashed firearms to be quickly ferried into Washington if needed. Joseph Hackett and David Moerschel, co-defendants in the trial in which Minuta and Vallejo were convicted - are due to be sentenced on Friday.

Persons: Donald Trump's, Judge Amit Mehta, Roberto Minuta, Edward Vallejo, Joe Biden's, Republican Trump, Stewart Rhodes, Mehta, Rhodes, Trump, Roger Stone, Minuta, Vallejo, Prosecutors, William Shipley, Matthew Peed, Peed, al, Joseph Hackett, David Moerschel, Hackett, Sarah N, Lynch, Will Dunham Organizations: U.S, Capitol, Republican, Minuta, World Trade, Moerschel, Thomson Locations: United States, Virginia, Washington, Vallejo, Minuta

☆ Journalists to complete book on saving Amazon rainforest by murdered British writer
▼ + stars: | 2023-05-31 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

LONDON, June 1 (Reuters) - One year after British reporter Dom Phillips was murdered in Brazil while working on a book about saving the Amazon rain forest, a group of journalists aims to complete the project, his family and former colleagues said on Thursday. They will use notes and transcriptions of interviews conducted by Dom Phillips and conduct their own research trips to the Amazon region to complete the missing chapters. Other journalists who also have experience covering issues related to the Amazon will fact-check and proofread the draft chapters, Watts said. "Dom was killed for this book," he said. "The least we can do is finish the task to which he had devoted the latter part of his life.

Persons: Dom Phillips, Phillips, Bruno Pereira, Pereira, Jon Lee Anderson, Tom Phillips, Jonathan Watts, Andrew Fishman, Watts, Dom, William Schomberg, David Gregorio Our Organizations: Manilla Press, Bonnier Books, Guardian, Washington Post, New, Intercept, Thomson Locations: Brazil, Brazil's, Peru

☆ Tesla’s Message to Biden
▼ + stars: | 2023-05-30 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ Finally, Can We Ask Who Really Colluded With Russia?
▼ + stars: | 2023-05-26 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ Americans hate tipping so much it was once banned in 7 states
▼ + stars: | 2023-05-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

By the 1700's, tipping in Europe had evolved from masters tipping servants to customers tipping service-industry workers. Seven states passed anti-tipping legislation in the early 1900sBy the early 1900s, early grumblings about tipping had escalated into full-fledged anti-tipping movements. But in 1919, the Iowa Supreme Court ruled that the state's anti-tipping law was unconstitutional, and other states followed by striking down or repealing their own similar legislation. Tipping persists in the US todayDespite originating in Europe, tipping has become deeply ingrained in American culture. Today, while many Americans aren't fans of tipping, and some restaurants have tried doing away with the practice, tipping is unlikely to be banned anywhere in the US anytime soon.

loadingWhile Arteta and his players dismissed talk of "bottling" the title race, for their fans there is a crushing sense of what could have been. Arsenal were eight points clear two months ago and appeared to be heading towards bagging their first league title since Arsene Wenger's 2003-04 'Invincibles'. GUARDIOLA MIND GAMESBut the eight-point gap was an illusion as City always had games in hand while Guardiola played mind games, effusive in his praise of Arsenal and Arteta, his former assistant at City. Guardiola has seen his fair share of tense title races and even when Arsenal had three games to go, he gently applied more pressure. The master had outshone the apprentice as Guardiola's side marched to their fifth league title in six seasons.

☆ Confidence returning to UK housing market as asking prices jump: Rightmove
▼ + stars: | 2023-05-21 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

"One reason for this increased confidence may be that the gloomy start-of-the-year predictions for the market are looking increasingly unlikely," Tim Bannister, director of property science at Rightmove, said. Earlier this year, British house prices were forecast by sector analysts to fall by as much as 15% by mid-2024. Rightmove said mortgage rates had been stable on a week-to-week basis. Mortgage lender Halifax said earlier this month that property prices grew at the slowest annual pace in over 10 years in April. But rival Nationwide said prices rose by a monthly 0.5% in April after falling for the seven previous months.

☆ The EPA Threatens to Turn Out the Lights
▼ + stars: | 2023-05-19 | by ( William S. Scherman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-epa-threatens-to-turn-out-the-lights-electricity-generation-energy-grid-natural-gas-coal-co2-a5ca4d77

☆ Factbox: The paparazzi who pursue Harry and Meghan - what are the rules?
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +4 min

Harry, the younger son of King Charles, and Meghan cited media intrusion as one of the reasons for stepping back from royal duties and moving to California in 2020. Rules on how the "paps" can operate vary from country to country and from state to state in the U.S.Below is a summary of the different restrictions. BRITAINPhotographers may take pictures in all public places, including photos of people, as long as they do not harass members of the public. California, where paparazzi are a constant presence thanks to Hollywood, has enacted several laws intended to protect celebrities from harm since Diana's death. The New York Press Photographers Association issued a statement on Wednesday condemning the reported behaviour as a violation of the basic principle that news photographers should act as "documentarians and observers."

☆ UK is committed to making electric vehicle batteries, Hunt says
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 18 (Reuters) - Britain will ensure that batteries needed to power electric vehicles (EVs) are produced domestically, finance minister Jeremy Hunt said on Thursday, a day after carmakers warned insufficient production could hurt investment in the country. "We are absolutely committed to making sure the UK is able to source onshore EV batteries that we need," Hunt said in a presentation to manufacturers on Thursday. Under the deal, 45% of the value of an EV sold in the EU must come from Britain or the EU from 2024 to avoid tariffs. On Wednesday, Hunt urged the industry to "watch this space" on the issue of British battery production. Reporting by William Schomberg; writing by David Milliken; Editing by Alistair SmoutOur Standards: The Thomson Reuters Trust Principles.

☆ ARK Venture forecasts market for A.I. software to reach $14 trillion by 2030
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Venture forecasts market for A.I. software to reach $14 trillion by 2030William Summerlin, ARK Venture co-lead, joins 'Squawk on the Street' to discuss ARK's Tesla holding and Musk's comments to CNBC's David Faber after Tesla's shareholder meeting.

☆ John Durham’s Report and a Presidency in Crisis
▼ + stars: | 2023-05-16 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

☆ These retailers are most at risk for a margin squeeze this earnings season thanks to cautious consumers, heavy promotions
▼ + stars: | 2023-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The price worries could suggest trouble for retailers that are relying on promotions to win over cost-conscious customers. Retailers that largely sell apparel, shoes or home goods are most likely to see squeezed margins due to promotions this earnings season, according to analysts and research. In a Thursday research note, UBS analysts reported softline promotions increased to 17% in April, a 2 percentage point jump year-over-year. Softline retailers are those that sell "soft" goods such as apparel. "This is likely a bad sign for Softline retailers' 1Q23 gross margins."

☆ UK jobless rate rises, potentially easing BoE inflation worries
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 16 (Reuters) - Britain's unemployment rate unexpectedly rose to 3.9% in the three months to March as more people sought to get back into the jobs market, potentially easing concerns at the Bank of England about inflation pressures. Economists polled by Reuters had expected the rate to hold at 3.8%. However, pay growth - which is at the heart of the BoE's debate about whether to raise interest rates further - remained strong by historical standards. Annual pay growth including bonuses held at 5.8%, as expected in the Reuters poll. However, the number of people not working due to long-term sickness rose to a new record, Morgan said.

☆ Nearly 6 million Britons missed payments on bills, regulator says
▼ + stars: | 2023-05-16 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 16 (Reuters) - Millions of British borrowers repeatedly missed payments on bills in the six months to January amid the steep surge in the cost of living and higher interest rates, a survey from the Financial Conduct Authority regulator showed on Tuesday. The FCA said the number of adults in Britain who missed payments on domestic bills or failed to meet any of their credit commitments in three or more of the six months to January rose to 5.6 million from 4.2 million in May 2022. The latest survey also showed a significant rise in the number of people struggling to keep up with payments who now accounted for one in five adults. "The convergence of higher living costs and higher interest rates has pushed people’s finances right to the edge and sometimes over," Karen Noye, mortgage expert at Quilter said. It also said it will introduce its Consumer Duty rule in the coming months, requiring firms to ensure they provide better support for consumers.

☆ Britons face biggest tax rise since 1979, think tank says
▼ + stars: | 2023-05-15 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 16 (Reuters) - Britons face the biggest tax-raising drive since the start of former prime minister Margaret Thatcher's term of office in the coming years as more people are pushed into paying the top rate of income tax, a leading think tank said on Tuesday. Britons pay income tax at a rate of 20% on income over 12,570 pounds ($15,865) a year and 40% on income over 50,270 pounds with a higher rate beyond that. Isaac Delestre, an IFS research economist, said inflation's recent surge was pushing up nominal earnings of many workers and dragging them into the higher tax rate bracket. The Conservative Party pledged not to increase income tax rates in its 2019 election manifesto. "A third of the expected record fall in household incomes this year is likely to be a result of this tax rise," the IFS said.

☆ UK public sector employers plan to raise pay by most since 2012
▼ + stars: | 2023-05-14 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 15 (Reuters) - British public sector employers plan the biggest pay increases in over a decade and private sector deals are set to remain high, according to a survey published on Monday, potentially adding to worries at the Bank of England. However, the gap between public and private employers' wage expectations remained wide, with those in the private sector expecting to raise pay by 5% in the coming year, unchanged from three months before. Official data showed average private sector wages in the three months to February were 6.1% higher than a year earlier. More than half of survey respondents in the public sector noted struggles with hard-to-fill roles and 45% expected similar problems in the next six months. Four in 10 private sector recruiters reported hard-to-fill jobs while 23% anticipated significant difficulties filling vacancies over the next six months.

☆ Bank of England poised to raise rates again to tackle stubborn inflation
▼ + stars: | 2023-05-10 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

Investors are fully pricing in another quarter-of-a-percentage point increase in Bank Rate, taking the BoE's benchmark rate to 4.5%, when the Monetary Policy Committee (MPC) announces the outcome of its May policy meeting at 12 p.m. (1100 GMT). Markets' main focus will be any signals from the BoE about the likelihood of further rises in the months ahead. "We expect that the Bank will only start to reduce rates from 2024 Q2 given resilient growth momentum," Goldman Sachs economist James Moberly told clients this week. "We have to be very alert to any signs of persistent inflationary pressures," Bailey said on March 27, before the latest round of data showed inflation fell less than expected. Last week, the U.S. Federal Reserve and the European Central Bank both raised their benchmark borrowing rates by 25 basis points.

☆ Appeals Court Overturns Fraud and Conspiracy Convictions in Varsity Blues Scandal
▼ + stars: | 2023-05-10 | by ( Anemona Hartocollis | ) www.nytimes.com time to read: +1 min

In a stunning reversal, a federal appeals court overturned the fraud and conspiracy convictions on Wednesday of two parents found guilty of participating in a far-reaching bribery scheme, known as Operation Varsity Blues, which ensnared dozens of wealthy parents who falsified their children’s credentials to gain admission to prestigious universities across the country. A three-judge panel of the U.S. Court of Appeals for the First Circuit in Massachusetts found that the lower court had made crucial missteps in the trial of Gamal Abdelaziz, a former casino executive, and John Wilson, a private equity financier. The court, however, upheld Mr. Wilson’s conviction on tax fraud. The appeals court made its decision largely on two technical legal grounds. First, it ruled that the lower court judge wrongly instructed the jury that admissions slots constituted property.

☆ UK firms cut hiring of permanent staff, recruiters' survey shows
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 10 (Reuters) - British firms reduced hiring of permanent staff via recruitment agencies at the fastest pace in more than two years, a survey showed on Wednesday, a day before the Bank of England announces its latest move to tackle inflation pressure. The Recruitment and Employment Confederation/KPMG said temporary hiring - which often increases when employers are uncertain about the economic outlook - rose at the fastest pace in seven months. "After a better month in March, in April we saw permanent hiring fall back quickly and businesses turn to temps to help them through. The REC survey showed staff availability increased for the second month in a row in April as some companies laid off workers and people sought better-paid work to help cope with an inflation rate that remained above 10% in March. Most investors and economists expect the BoE to increase Bank Rate for the 12th meeting in a row on Thursday.

☆ British home-buyers, facing higher interest rates, retreat in April - RICS
▼ + stars: | 2023-05-10 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 11 (Reuters) - British property surveyors reported a drop in demand in April as new buyers turned more cautious ahead of the Bank of England's latest expected interest rate increase, an industry survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its measure of new buyer enquiries fell to a net balance of -37 in last month from -30 in March, the lowest since January. Simon Rubinsohn, chief economist at RICS, said the survey pointed to challenges in terms of sales and lettings. The net balance of agreed house sales across Britain fell slightly but respondents noted a pick-up in the number of properties on the market. Data from mortgage lender Halifax published on Tuesday showed house prices grew at the slowest annual pace in more than 10 years in April.

☆ UK police express regret over coronation arrest of republican leader
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/May JamesLONDON, May 9 (Reuters) - British police expressed regret over the arrests of the leader of anti-monarchist group Republic and five others at the coronation of King Charles, following criticism that the security response was heavy-handed. London's Met Police said they regretted that six of those arrested at the event were prevented from protesting during the coronation on Saturday. They have had their bail cancelled and no further action will be taken, the police statement added. Police said the arrests were made because of items which officers believed could have been used to disrupt the event. There were over 11,000 police on the streets of central London for the coronation, the biggest ceremonial event staged in London for 70 years, and a total of 64 arrests were made.

☆ Crypto exchange Bittrex files for bankruptcy after SEC complaint
▼ + stars: | 2023-05-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Bittrex has denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts. Bittrex's other largest creditors were mostly customers of the crypto exchange.

Search resuls for: "William S"

25 mentions found