DIRS.INFO The most relevant business & tech news

☆ Tech drags Hong Kong stocks, dollar squeezed as US inflation slows
▼ + stars: | 2023-04-13 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

SINGAPORE, April 13 (Reuters) - Asian stocks struggled on Thursday, dragged by selling in Hong Kong tech shares, while the dollar was under pressure and short-dated bonds were firm as softening U.S. inflation seemed to suggest the U.S. rate hike cycle was nearing its end. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid 0.3%, largely pressured by a 1.5% drop in Hong Kong tech stocks (.HSTECH) in the wake of the Financial Times reporting SoftBank was selling down its Alibaba stake. Alibaba shares (9988.HK) were down 3% in early trade and SoftBank (9434.T) shares flat and neither immediately responded to Reuters enquiries. Elsewhere oil prices held sharp gains made in the wake of the inflation data, with Brent crude futures steady at $87.22 a barrel. Shares of embattled Chinese property developer Sunac China (1918.HK) resumed trade after a more than year-long suspension in Hong Kong, with the company in the midst of a debt restructure.

☆ World Bank steering committee, Yellen urge more reforms at lender this year
▼ + stars: | 2023-04-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

"They expect the Board of Executive Directors and World Bank Group management to finalize a work plan with detailed actions to be taken," the committee's chair said in a statement. Members underscored their commitment to "ensuring that the World Bank Group has adequate financial capacity to respond to development challenges and support its expanded mission." Yellen said upcoming events could be leveraged to keep momentum strong for the evolution of the World Bank. Malpass told the committee he felt the bank had responded with "vigor and speed" to Yellen's call for reforms. Development Committee members thanked Malpass for his leadership of the WBG during a historically challenging period, including an unprecedented surge in financing in response to multiple crises.

☆ Wall St ends mixed as inflation data comes into focus
▼ + stars: | 2023-04-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The bellwether S&P 500 ended essentially unchanged. "With huge inflation data tomorrow, Fed minutes coming out soon and earnings right around the corner, traders are taking a wait and see approach to see how the inflation data comes in." Analysts expect aggregate first-quarter S&P 500 earnings falling 5.2% year-on-year, a stark reversal from the 1.4% annual growth seen at the beginning of the quarter. Among the 11 major sectors of the S&P 500, communication services (.SPLRCL) and tech (.SPLRCT) ended in the red, while energy (.SPNY) and financials (.SPSY) enjoyed the largest percentage gains. The S&P 500 posted nine new 52-week highs and no new lows; the Nasdaq Composite recorded 64 new highs and 118 new lows.

☆ IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990
▼ + stars: | 2023-04-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Ishara S. Kodikara | Afp | Getty ImagesThe International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years. The D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook since 1990. "The world economy is not currently expected to return over the medium term to the rates of growth that prevailed before the pandemic," the Fund said in its latest World Economic Outlook. IMFIn the short term, however, the IMF expects global growth of 2.8% this year and 3% in 2024, slightly below the fund's estimates published in January. Banking turmoilThe IMF said that its baseline forecast "assumes that the recent financial sector stresses are contained."

☆ The Russian air force's struggles in Ukraine reveal glaring problems in now Moscow trains its pilots
▼ + stars: | 2023-04-10 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +35 min

Despite being bigger and more advanced than its enemy, Russia's air force has struggled in Ukraine. It's commonly said that Russian fighter pilots are not as well trained as their Western counterparts, particularly those from the United States. But however ineffective you may think Russian pilot training is compared to the West, the truth seems to be … much worse. A Russian air force pilot prepares to take off in an Su-35 fighter jet at Hemeimeem air base in Syria in September 2019. Put simply, the Gulf War air campaign creates a damning juxtaposition when compared directly to Russia's air campaign over Ukraine.

☆ Ukraine PM to visit Canada in coming weeks
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +2 min

April 7 (Reuters) - Ukrainian Prime Minister Denys Shmyhal is planning to visit Canada in the coming weeks, a spokesperson for the Canadian Prime Minister told Reuters on Friday. Ukraine is expected to launch a counter-offensive to seize back land in the south and east of the country from Russian forces in the coming weeks or months. The Ukrainian premier was quoted by the Globe as saying Ukraine would also like Canada to offer war risk insurance to Canadian companies investing in Ukraine to support reconstruction and foreign investment. "So if a Canadian company will decide to invest money into Ukraine, we will ask the Canadian government to create some mechanism to support Canadian investments," he said. Canadian Prime Minister Justin Trudeau's Liberal government has been one of Ukraine's most vocal international supporters and provided Kyiv with more than C$5 billion ($3.70 billion) in financial, military and other aid.

☆ Glencore’s Teck gambit could slip on an oily patch
▼ + stars: | 2023-04-06 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Valued at 6 times its expected 2024 EBITDA of $3.2 billion, Teck’s metals unit would be worth just under $20 billion. Glencore boss Gary Nagle’s alternative plan, which would hand Teck shareholders 24% of the enlarged company, initially looks more appealing. Nagle can’t put the business, the pride of Glencore founder Marc Rich, together with the new coal unit. The risk for Nagle is that Teck shareholders do too. Teck shareholders will vote on the company’s proposal on April 26.

With large language models like OpenAI's GPT-4 and Google's Bard quickly increasing their power and reach, vLex and Fastcase are betting their combined document library will be a rich training data set for legal AI products. "It will always make sense to train legal LLMs on legal data instead of the World Wide Web," Walters said. The merger creates a law library that is "the biggest legal data corpus ever assembled," the companies said. Other large law firms are using new products from companies like Casetext, a legal research company that last month released a new generative AI legal assistant product. Casey Flaherty of legal innovation collective LexFusion predicted the new vLex would be a "serious player" among legal information companies as AI progresses.

Below, you'll find our top picks for the best banks for avoiding ATM fees. The best banks for avoiding bank ATM fees have free regional or national ATM networks, so you won't be charged for using an ATM. The Best Banks for Avoiding ATM FeesLendingClub Bank: Best online bank for avoiding domestic ATM feesConnexus Credit Union: Best credit union for avoiding domestic ATM feesChase: Best national bank for avoiding domestic ATM feesCharles Schwab: Best institution for avoiding international ATM feesTD Bank: Best regional bank for avoiding domestic ATM feesBetterment: Best online banking platform for avoiding domestic ATM feesWe've included brick-and-mortar banks, online banks, credit unions, and online banking platforms, so you can choose from a variety of options. Unlimited refunds on out-of-network ATM fees Check mark icon A check mark. You could also refer to the schedules of fees document to review ATM fees and ATM withdrawal limits."

☆ EV tax credits: New rules could slash the number of eligible electric vehicles. Here's what you should know
▼ + stars: | 2023-03-31 | by ( Ella Nilsen | ) edition.cnn.com time to read: +9 min

The new tax credit and the guidance are complex, and more information will be coming out in the coming weeks and months. The clearest impact on consumers will be the reduced number of vehicles eligible for credits starting April 18. Under the new rule, consumers can get up to $7,500 in tax credits on eligible cars. What is in the new EV tax credit rule and why is it complicated? New guidance from the Biden administration suggests fewer EVs will be eligible for tax credits starting April 18.

☆ Killer drones and multi-billion dollar deals: Turkey's rapidly-growing defense industry is boosting its global clout
▼ + stars: | 2023-03-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Drones aren't the only thing elevating Turkey's status as a growing player in the global defense industry. Turnover for the country's defense industry as a whole last year was $10 billion, according to Turkey's Presidency of Defense Industries. And the investment shows in the numbers: research and development in Turkey's defense sector "recently increased by 30 percent," the Atlantic Council's report wrote. Turkish defense manufacturers say they are booked for the next several years with orders to help replenish NATO stockpiles. Those firms also have high demand from Turkey's military alone — it is, after all, the second-largest military in NATO after the United States.

☆ Pharmacy startups are losing their battle with giants like CVS and Walgreens
▼ + stars: | 2023-03-28 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +12 min

Pharmacy startups like Capsule and Truepill are crumbling in the fight against pharmacy giants. But in the past year, the pharmacy startups have begun to crumble. Plus, each chain has thousands of stores across the country, providing the convenience that the pharmacy startups seek to replicate with tech. The digital-pharmacy shakeoutAnalysts suggested that healthcare startups with pharmacy components, rather than pure-play pharmacy startups, are best positioned to succeed. Truepill CEO Sid Viswanathan TruepillBut the pharmacy startups that have attempted to offer additional services have largely shelved those efforts in recent months.

☆ Exclusive: Canada budget sees contracts for differences for large clean-tech projects -source
▼ + stars: | 2023-03-27 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

So-called contracts for differences set a price on tradable carbon credits, which heavy emitters can get if they reduce pollution. They are also concerned that costly projects could be a waste of money if carbon pricing is scrapped in future. Contracts for differences could be used by companies investing in carbon capture or hydrogen projects, the source said. Under Canada's carbon pricing rules, large industrial polluters pay per tonne of carbon emitted above a certain sector-specific threshold. It will benefit 11 million households, the source told CBC, who called the measure a "grocery rebate".

☆ The banking crisis is doing Fed's work and creating a window for stocks to rally
▼ + stars: | 2023-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Work from home has in part jacked up food prices, and the increase is about 14% above just last year. The only bank that looks like Silicon Valley Bank is First Republic Bank (FRC) because it, too, has suffered huge deposit withdrawals. Nike (NKE)said China orders were good, so did Club stock Starbucks (SBUX). As counterintuitive as it is, the banking row will give the 4.8% fed funds rate a chance to cool consumer spending. This gives stocks a window to advance until we begin earnings season with what will no doubt be a cautious banking sector.

☆ Congress sat back and let trucks become heavier, taller, and deadlier. Now pedestrian fatalities are at a 40-year high.
▼ + stars: | 2023-03-24 | by ( Madison Hall | ) www.businessinsider.com time to read: +10 min

As trucks get bigger and bigger, so do the blind zones in the front and to the side of the cars. He didn't expect to find that an M1 Abrams battle tank had better a sightline than some everyday trucks. Due to the shape of the hood, a modern truck's blind zone can extend to more than a dozen feet out in front of the vehicle. According to NHTSA data, there were 240 estimated nonoccupant deaths by forward-moving vehicles in the United States in 2016. The legislation was never brought to a vote, but Blumenthal told Insider he had plans to reintroduce the act this session of Congress.

☆ These eight charts show why climate change matters right now
▼ + stars: | 2023-03-23 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment ReportGlobal warming is caused when greenhouse gases like carbon dioxide and methane trap heat in the atmosphere. Climate change is already having impacts on human life and well-beingZoom In Icon Arrows pointing outwards This chart shows the various impacts climate change has on water availability, food production, health and well-being, cities and infrastructure and biodiversity and ecosystems. Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment ReportMany of the worst impacts of climate change will come to pass in the lives of the youngest humans. Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment ReportThe globe has warmed by 1.1 degrees Celsius above pre-industrial levels, the IPCC report says. Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment ReportA slight change in the average change of the earth's temperature will impact different populations differently.

☆ Anheuser-Busch is launching an entertainment division with help from Oscar-winning producer Michael Sugar in a push to reach consumers who don't watch ads
▼ + stars: | 2023-03-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Anheuser-Busch is building an entertainment division, Insider has learned, the latest big marketer to turn to Hollywood to reach consumers who are increasingly glued to ad-free streaming services. The AB InBev effort is under a new, unannounced entity called draftLine Entertainment, a part of its internal ad agency, draftLine. DraftLine Entertainment is being run by AB InBev marketer Lauren Denowitz as global studio head, reporting to VP Fábio Baracho. The world's biggest brewer, AB InBev is well known for its marketing. In the case of AB InBev, entertainment is a way to promote the beer category at large over any individual brand.

☆ Traditional charging products are out; gallium nitride is in. Here are GaN product recommendations for a more organized and faster charging experience.
▼ + stars: | 2023-03-17 | by ( Sponsor Post | Created Topgreener With Insider Studios | ) www.businessinsider.com time to read: +5 min

One of the latest innovations in the charging industry is utilizing gallium nitride (GaN) to support power delivery technology. Using gallium nitride (GaN) to support Power Delivery technology is the future of charging devices. Since GaN charging devices conduct less heat, this allows chargers to be built with more compact casing. Here's what we recommend for a more organized and faster charging experience:The Topgreener GaN Technology Combination USB Outlet is state-of-the-art. With high-performance GaN Power Delivery technology, devices such as a MacBook Pro can charge to 50% in just 30 minutes.

☆ 8 million Chinese youths sat for a test in the style of an 'imperial examination' — all for a job that pays about $7,000 a year
▼ + stars: | 2023-03-17 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +6 min

A record 7.7 million Chinese youths sat for an intense test to try to secure one of 200,000 government jobs. The modern-day civil service tests are not far off the mark from their ancient iterations. In spite of the tough tests required to secure these jobs, civil service jobs are not high paying. "In general, civil service jobs could bring with them benefits for the whole family, like connections to positions of power," Wu said. For those who want to be active participants in the workforce, civil service jobs continue to be a solid option.

March 15 (Reuters) - Swiss regulators pledged a liquidity lifeline to Credit Suisse (CSGN.S) in an unprecedented move by a central bank after the flagship Swiss lender's shares tumbled as much as 30% on Wednesday. They said the bank could access liquidity from the central bank if needed. Credit Suisse said it welcomed the statement of support from the Swiss National Bank and FINMA. Hoping to quell concerns, FINMA and the Swiss central bank said there were no indications of a direct risk of contagion for Swiss institutions from U.S. banking market turmoil. The logo of Swiss bank Credit Suisse is seen in front of an office building in Zurich, Switzerland October 26, 2022.

☆ Biden administration looks to free up wireless spectrum for advanced technology
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday launched an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

Three days into his tenure as Silicon Valley Bank 's government-appointed CEO, Tim Mayopoulos has a message for his high-powered venture capital and startup clients: Bring your money back. "There is no safer place in the U.S. banking system to put your deposits," Mayopoulos said on the call, which CNBC attended and was first to report. SVB's former CEO and CFO are no longer employed by the bank, Mayopoulos said on the call. Customer feedback will be critical in determining the future of the bank, Mayopoulos said on the call. "There are other places that do venture debt, but Silicon Valley Bank was the 1,000-pound gorilla in the room," said Ami Kassar, CEO of the business lending consultant Multifunding.

☆ Premarket stocks: The forgotten rescue plan that could prevent another SVB-like collapse
▼ + stars: | 2023-03-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Bank stocks rebounded significantly on Tuesday after logging record plunges Monday and the week prior. Those banks will coordinate to take Fed loans around the same time on the same day alongside smaller banks. ▸ US bank stocks rebounded on Tuesday, recovering some of their losses after the collapse of three banks tested markets on Monday. Regional bank stocks rallied: First Republic (FRC) Bank ended the day up 27% after a record drop on Monday. The question is whether bank stocks can hold on to their gains or if Tuesday was just a sector-wide dead cat bounce.

☆ Biden administration looks to free up wireless spectrum for advance technology needs
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday is launching an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

☆ What are dual-class shares and why do they matter for investors like us?
▼ + stars: | 2023-03-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Alphabet (GOOGL), Meta Platforms (META), Ford Motor (F) and Estee Lauder (EL) are the four Club holdings that maintain a dual-class structure. Dual-class stock structures generally designate shares as part of Class A or Class B, with one carrying more weight than the other. Google Co-founders Sergey Brin and Larry Page took their nascent firm, now Alphabet, public in 2004 with a dual-class stock structure. Advantages A dual-class structure allows founders, C-suite executives or key investors to maintain control and execute their long-term vision for the business. Bottom line Dual-class shares are not ideal, but they're not a deal breaker either.

Search resuls for: "ike C"

25 mentions found