DIRS.INFO The most relevant business & tech news

☆ Consumer spending anomalies are the new norm: podcast
▼ + stars: | 2022-11-29 | by ( Jennifer Saba | ) www.reuters.com time to read: 1 min

NEW YORK, Nov 29 (Reuters Breakingviews) - High inflation and glum sentiment are changing how people use their money. In this edition of The Exchange podcast, Brookings Institution economist Wendy Edelberg explains what shoppers are loath to give up during times of duress and why strange patterns will persist. Listen to the podcastFollow @jennifersaba on Twitter(The host is a Reuters Breakingviews columnist. Editing by Thomas ShumOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. REUTERS/Florence Lo/Illustration/File PhotoLONDON/SINGAPORE, Nov 28 (Reuters) - The dollar fell sharply against Japan's yen on Monday as investors focused on rare protests in China, which pushed the yuan to a two-week low. China's onshore yuan finished the domestic session around 0.5% lower at 7.199 per dollar, the lowest close since Nov. 10. The offshore yuan fell to a more than two-week low in Asian trading and was last down 0.28% at 7.214. The Australian dollar , often used as a proxy for the yuan, slid 0.67% to $0.671.

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. China's onshore yuan finished the domestic session around 0.5% lower at 7.199 per dollar, the lowest close since Nov. 10. The offshore yuan fell to a more than two-week low in Asian trading and was last down 0.1% at 7.201. The Australian dollar , often used as a proxy for the yuan, slid 0.7% to $0.671. China's stringent COVID restrictions have taken a heavy toll on its economy, and authorities have implemented various measures to revive growth.

☆ Dollar rises, yuan slumps as China's COVID unrest spooks markets
▼ + stars: | 2022-11-28 | by ( Rae Wee | Ashitha Shivaprasad | ) www.reuters.com time to read: +3 min

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. The offshore yuan fell to an over two-week low in Asian trading, and was last roughly 0.4% lower at 7.2242 per dollar. The Australian dollar , often used as a liquid proxy for the yuan, slid more than 1% to $0.6681. China's stringent COVID restrictions have taken a heavy toll on its economy, and authorities have implemented various measures to revive growth. Against a basket of currencies, the U.S. dollar index rose 0.07% to 106.41, edging away from its recent three-month low of 105.30.

☆ Dollar gains, yuan slides as China's COVID unrest spooks markets
▼ + stars: | 2022-11-28 | by ( Rae Wee | Ashitha Shivaprasad | ) www.reuters.com time to read: +3 min

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. REUTERS/Florence Lo/Illustration/File PhotoSINGAPORE, Nov 28 (Reuters) - The dollar climbed on Monday as protests against COVID restrictions in China rattled financial markets, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. The offshore yuan fell to an over two-week low in Asian trading, and was last roughly 0.6% lower at 7.24 per dollar. The Australian dollar , often used as a liquid proxy for the yuan, slid more than 1% to $0.6687. The stringent COVID restrictions have taken a heavy toll on China's economy, and authorities have implemented various measures to revive growth.

☆ Dollar rises broadly, yuan slumps as China's COVID unrest rattles sentiment
▼ + stars: | 2022-11-28 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Nov 28 (Reuters) - The dollar gained broadly on Monday as protests against COVID restrictions in China stoked uncertainty and dented sentiment, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. Against the offshore yuan , the dollar rose 0.76% in early Asia trade to 7.2456. The Aussie , which is often used as a liquid proxy for the yuan, fell 0.61% to $0.6714, while the kiwi slumped 0.5% to $0.6216. "Companies are currently facing weaker retail sales from a higher number of COVID cases and falling home prices from unfinished home projects." Against a basket of currencies, the U.S. dollar index was down 0.08% at 106.25, but off its recent three-month low of 105.30.

☆ Dollar gains, yuan slides as China's Covid unrest spooks markets
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +3 min

The dollar climbed on Monday as protests against Covid restrictions in China rattled financial markets, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. Worries over the unprecedented wave of civil disobedience in a country where in-person protests are rare, the rising Covid cases, as well as how Beijing will react to the situation kept investors on edge. The offshore yuan fell to an over two-week low in Asian trading, and was last roughly 0.6% lower at 7.24 per dollar. The Australian dollar , often used as a liquid proxy for the yuan, slid more than 1% to $0.6687. The stringent Covid restrictions have taken a heavy toll on China's economy, and authorities have implemented various measures to revive growth.

☆ The November jobs report and the Fed matter most to markets in the week ahead
▼ + stars: | 2022-11-25 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

November's jobs report is the big event for markets in the week ahead, and it could provide important insight into the path of Federal Reserve interest rate hikes. The labor market has cooled only slightly, as other parts of the economy have slowed. But the labor market has been more resilient than expected, challenging the Fed's efforts to tame inflation by slowing economic activity. Besides the jobs report, there is the Job Openings and Labor Turnover Survey (JOLTS) report Wednesday, as well as the Fed's beige book on economic activity. "Holding above 4,000, as we await the jobs report and those other economic reports would be constructive for one more move before Christmas," he said.

☆ If the Biden administration doesn't step in to block the $25 billion Kroger-Albertsons merger, it will be devastating for shoppers and grocery-store workers — while the rich shareholders will get rich
▼ + stars: | 2022-11-23 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

Last month, Kroger announced a $25 billion deal to merge with grocery chain Albertsons. During the pandemic last year, local city councils in Long Beach and Seattle passed "hero pay" laws requiring grocery stores to pay their public-facing workers $4 extra per hour. Last month, Kroger announced a $25 billion deal to merge with Albertsons, another major national grocery chain. In the press release announcing the merger, Kroger promised that the consolidation would result in lower prices for customers and better compensation and benefits for workers. But the larger Kroger-Albertsons merger is still on track to conclude in 2024, unless the Biden administration steps in to stop it.

☆ Analysis: Trump lesson on U.S. protectionism guides Canadian foreign policy
▼ + stars: | 2022-11-23 | by ( Steve Scherer | ) www.reuters.com time to read: +5 min

OTTAWA, Nov 23 (Reuters) - Canadian Prime Minister Justin Trudeau's government learned a lesson when former U.S. President Donald Trump forced the renegotiation of the North American trade pact five years ago: never underestimate U.S. protectionism. The next U.S. presidential election is less than two years away and Trump last week said he would run again, suggesting the "America first" trade policy could again be on the ballot. Even without Trump, the United States has shown signs of becoming increasingly leery of free trade in recent years. When America goes America first, they forget Canada's right next door," said a senior source familiar with the Canadian government's thinking on foreign policy. "I don't want to undermine the Indo-Pacific strategy by saying it's entirely about the United States, because it's not, but having a strong Indo-Pacific strategy is also important in our bilateral relationship with the United States," the senior source said.

☆ Meet a woman suffering from long COVID who quit her job, spent $11,000 on treatments, but still can't get disability insurance
▼ + stars: | 2022-11-20 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Jenna Dreier stopped working after developing debilitating long COVID symptoms. She had disability insurance, but the company claimed she had inadequate proof to qualify for long-term payouts. At first she took a leave of absence, and started to receive payouts from her short-term disability insurance allowance. Dreier's situation is complicated by the fact that a lot of medical professionals don't understand long COVID. She's since been treated for long COVID symptoms by multiple doctors, and is currently getting help from a long COVID clinic, according to medical records viewed by Insider.

☆ Republican U.S. House will sharpen China focus, monitor Ukraine aid
▼ + stars: | 2022-11-17 | by ( Patricia Zengerle | ) www.reuters.com time to read: +6 min

Representative Michael McCaul, the Republican in line to head the House Foreign Affairs Committee, said his top priority will be competing with a rising China, including monitoring high-tech exports. To become law, any bills must be passed by the Democratic-controlled Senate and be signed by President Joe Biden. McCaul said he expected the aid to keep flowing, noting bipartisan support for the Kyiv government. The House Foreign Affairs and Oversight committees also plan a joint investigation of business dealings that Hunter Biden had with a Chinese energy firm in 2017. The Democratic-led House impeached Trump in 2019 on charges that he withheld military aid to Ukraine to put pressure on President Volodymyr Zelenskiy to launch an investigation of Hunter Biden.

☆ Li Qiang will be China's next premier and he is seen as market-friendly: Brookings' Cheng Li
▼ + stars: | 2022-11-17 | 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 EmailLi Qiang will be China's next premier and he is seen as market-friendly: Brookings' Cheng LiCheng Li from the Brookings Institution talks about China's economic priorities under President Xi Jinping's third term.

Those were among the driving questions leading up to the midterm elections about Latino voters. Latino voters have long had themes attached to them for elections. Greg Abbott, who declared he would get more than half of Texas' Hispanic vote, finished with 40 percent, 2 percent less than in his last election. That helped create a "bridge opportunity" with Latino voters, said Sanchez, also a University of New Mexico political science professor. George W. Bush was elected with 35% of the Latino vote and did even better in getting re-elected with 40% of the Latino vote.

☆ Donald Trump launched a third bid for president at a time when his legal troubles have never been worse
▼ + stars: | 2022-11-16 | by ( C. Ryan Barber | ) www.businessinsider.com time to read: +10 min

Trump announced his 3rd presidential bid in the same place that federal agents view as a suspected crime scene. With midterms over, the Justice Department could soon signal its next steps. The Justice Department has pursued its investigations undeterred by Trump's signaling plans for a third presidential bid, and his formal campaign launch will not protect him. The Justice Department could soon signal its next steps. Ahead of the midterms, Republicans warned that they would wield committees to mount oversight investigations and grill the Justice Department and FBI about investigations involving Trump.

☆ Bosses are 'done with the COVID excuse' and it means calling out sick is getting harder
▼ + stars: | 2022-11-15 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +3 min

This year, about 630,000 more Americans per month are calling out sick for a week or more than pre-pandemic. Even though an elevated number of workers are still getting sick, employers are losing their patience. One union told Insider that the disparity highlights the need for guaranteed sick leave. "UFCW fights hard to ensure guaranteed sick leave is included in our contracts so employers can't simply cut back on leave because they're 'tired of excuses.'" When it comes to low-wage employees, over 60% don't have access to sick leave, according to a September study from the Economic Policy Institute.

☆ Biden says Elon Musk’s relationships with foreign countries 'worthy of being looked at'
▼ + stars: | 2022-11-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Lauren-Egan-Circle-Byline-Template.Jpg | Lauren Egan | ) www.nbcnews.com time to read: +3 min

WASHINGTON — Asked whether Elon Musk posed a threat to national security, President Joe Biden said Wednesday that the billionaire’s “relationships with other countries is worthy of being looked at.”“I think that Elon Musk’s cooperation and/or technical relationships with other countries is worthy of being looked at,” Biden told reporters at the White House. “Whether or not he is doing anything inappropriate — I’m not suggesting that — I’m suggesting it’s worth being looked at. Elon Musk, the CEO of Tesla and the new owner of Twitter, has significant business interests in China. That helped prompt Sen. Chris Murphy, D-Conn., to call for an investigation into the national security implications of Saudi Arabia’s stake. But Musk has important relationships with the U.S. government, too, and those have continued under the Biden administration.

☆ Xi shook up the power order in China, but the world should expect little change — because Xi is still the complete puppet master, 2 experts say
▼ + stars: | 2022-11-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +7 min

Last month, Xi Jinping announced who would join him to be the top seven officials in China. Kevin Frayer/Stringer/Getty ImagesBoosted to the second-in-command spot by Xi, Li is thought to be one of the president's closest protégés. Having been the lowest-ranked member of the previous standing committee, Zhao has jumped four positions to get to his current role. It indicates to me that Xi Jinping is satisfied with the work that Zhao has done," said Loh. "Xi Jinping makes it very clear.

☆ Republicans pushing for Taiwan independence would verge on reckless, says Brookings' O'Hanlon
▼ + stars: | 2022-11-08 | 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 EmailRepublicans pushing for Taiwan independence would verge on reckless, says Brookings' O'HanlonMichael O’Hanlon of the Brookings Institution joins ‘CNBC: Business on the Ballot’ to discuss Ukraine aid, cracking down on China and how to deal with North Korea after tonight’s midterm election.

☆ His COVID lockdowns made him one of the most unpopular politicians in China. Xi Jinping just made him the 2nd-most powerful man in the country. Meet Li Qiang.
▼ + stars: | 2022-11-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +7 min

They key to his success is his loyalty to President Xi Jinping, experts say. But on October 23, Chinese President Xi Jinping made it clear: It didn't matter. Xi Jinping, Li Qiang, and other members of China's new top leadership walk in order of their rank. But his real value to Xi comes in the form of his loyalty to Xi, Wu said. Xi Jinping doesn't look into other things.

Data for September was revised higher to show 315,000 jobs created instead of the previously reported 263,000, but the unemployment rate ticked up to 3.7% from 3.5%. "And I think the implication of that is probably a slower rate of pace of rate increases, a longer pace of rate increases and potentially a higher end point." The Fed's key policy rate currently sits in a 3.75%-4.00% range. "I had interest rates in September peaking at around 4.9% in the March-April (2023) kind of time frame," Kashkari said. Reporting by Lindsay Dunsmuir, Michael S. Derby, Dan Burns and Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Fed's Collins says policy moving into new phase, open to smaller rate hikes
▼ + stars: | 2022-11-04 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

"At the moment, with inflation well above the Fed's 2 percent target, the Fed's central task must be to restore price stability," Collins said in prepared remarks for a speech. Collins' comments were among the first public remarks by a U.S. central bank official in the wake of this week's monetary policy meeting. Collins, who took over as head of the Boston Fed over the summer, is a voting member of the rate-setting Federal Open Market Committee this year. 'RISKS OF OVERTIGHTENING'In her remarks to the Brookings Institution, Collins said that as the Fed moves forward, "I believe it is important for us to consider the various options for policy moves." Collins also spoke shortly after the release on Friday of a U.S. monthly employment report that showed continued job market strength.

Delaware-based realtor Claryssa McEnany was helping a client sell a home earlier this year when she witnessed a blatant example of appraisal bias. How appraisal bias affects Black homeownersTesting done by fair housing groups have shown that McEnany's experience isn't uncommon, and that the impacts of appraisal bias can be costly. How does appraisal bias happen? But creating an appraisal report isn't an exact science. What to do if you think you've experienced appraisal discriminationIf you think you've experienced discrimination in the appraisal process, your first step should be to look at the appraisal report.

☆ Fed's Collins says policy entering new phase, open to smaller rate hikes
▼ + stars: | 2022-11-04 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

"At the moment, with inflation well above the Fed's 2 percent target, the Fed's central task must be to restore price stability," Collins said in a speech. Collins' comments were among the first public remarks by a U.S. central bank official in the wake of this week's monetary policy meeting. Collins, who took over as head of the Boston Fed over the summer, is a voting member of the rate-setting Federal Open Market Committee this year. 'RISKS OF OVERTIGHTENING'In her remarks to the Brookings Institution, Collins said that as the Fed moves forward, "I believe it is important for us to consider the various options for policy moves." Collins also recognized that as the Fed keeps moving rates up "the risks of overtightening increase."

☆ America’s housing dream is broken
▼ + stars: | 2022-11-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

New York CNN Business —A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t buying. As that 2020 housing boom begins to go bust, those who managed to close on a home in the crush of competition fed by rock-bottom mortgage rates should count themselves extremely lucky. “And this year were facing increasing home prices while mortgage rates are also climbing.”Oh yeah, one other thing: In addition to mortgage rates going up, home prices also shot up, with the median peaking at $413,800 in June. As affordability reaches crisis levels, now is a good time for federal and local governments to rethink the way we frame the American Dream. Another strong data point on jobs will only reassure the Fed that the labor market can withstand more rate hikes.

Search resuls for: "Brookings Institution"

25 mentions found