DIRS.INFO The most relevant business & tech news

☆ Privacy breach at Australian airline Qantas gives access to other customers' details
▼ + stars: | 2024-05-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Qantas on Wednesday apologized after some customers using the Australian airline's app were shown the name, flight details and loyalty status of other passengers. Customers were not able to transfer or use other people's airline points, and there were no reports of customers boarding flights using incorrect details, Qantas said. During the incident, Qantas advised customers to log out and then back in to their frequent flyer app account. "We sincerely apologise to all customers impacted and continue to monitor the Qantas app closely," the airline said in a statement. The Qantas incident comes after other airlines experienced data breaches involving malicious actors in recent years.

Organizations: Qantas, Sydney International Airport, Spain's, Europa, Reuters, British Airways Locations: Sydney, Australia

☆ Glamping With the Stars
▼ + stars: | 2024-05-01 | by ( Colleen Creamer | ) www.nytimes.com time to read: +1 min

I’d headed west for the sun, but even more so for the night sky, so I was hoping for clear weather ahead. The glamping resort, one of 12 Under Canvas sites, is anchored on a canyon rim plateau in southern Utah and is the first resort in the world to be certified by the nonprofit authority on light pollution, DarkSky International. My aim was to beat the heat and the crowds — but what I really wanted was to be an early adopter of certified starry resorts. The DarkSky Approved Lodging program is another step forward in the nonprofit’s history of advocacy for the reduction of light pollution. Broadly, the requirements for certification include being situated in an “exceptionally” dark location; having approved means of reducing the impact of light at night; and providing educational materials about night sky conservation to guests.

Persons: Harry Reid Organizations: Harry Reid International, DarkSky Locations: Tennessee, Utah

☆ Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.

Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S

☆ Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with the forecast of economists polled by Reuters. It is the seventh straight month the headline rate has been below 3%, despite a slight rebound in the rate in December due to energy prices. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 2.7% from 2.9% in March. However, Martinez noted the slightly lower-than-expected fall in core inflation and volatility in some areas of services that had increased the inflation rates in France and Italy.

Persons: Price, Gerardo Martinez, Martinez, Jane Foley, Foley Organizations: Reuters, European Central Bank, Gross, ECB, CNBC, BNP, Rabobank Locations: Europe, France, Italy

☆ Scottish First Minister Humza Yousaf resigns after ending power-sharing agreement
▼ + stars: | 2024-04-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Scotland's First Minister Humza Yousaf announces his resignation during a statement, at Bute House, in Edinburgh, on April 29, 2024. Scottish First Minister Humza Yousaf resigned on Monday after the collapse of his power-sharing agreement with the country's Green Party. Scottish National Party (SNP) leader Yousaf was facing a vote of no confidence that he was not expected to survive, after he broke off the agreement with the Green Party last week. "In ending the Bute House agreement in the manner I did, I clearly underestimated the level of hurt and upset I caused Green colleagues. The first person of color to lead Scotland, Yousaf said it was an "honour" and "privilege" to serve as first minister.

Persons: Humza Yousaf, Yousaf, Green, — Organizations: Scotland's, Bute House, Scottish, country's Green Party, Scottish National Party, Green Party Locations: Bute, Edinburgh, Scotland

☆ Philips shares rocket 33% as firm settles U.S. respiratory device case
▼ + stars: | 2024-04-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Philips shares were 33% higher at 9:00 a.m. London time. It said it did not admit any fault or liability, or that any injuries were caused by its Respironics devices. Monday's rebound took Philips shares back to their highest level since April 2022. Adjusted earnings, meanwhile, beat consensus analyst expectations, according to Reuters, coming in at 388 million euros for the quarter. Sales were slightly lower year-on-year, at 4.14 billion euros in the first quarter from 4.17 billion euros in 2023.

Persons: Roy Jakobs, Philips Organizations: Philips, Reuters Locations: U.S, London

☆ Airbus CFO says A350 plane production increase not tied to Boeing troubles
▼ + stars: | 2024-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

An Airbus' employee works on an aircraft part of the Airbus A350 at the Airbus Atlantic plant in Bouguenais, near Nantes, western France, on February 29, 2024. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer. Toulouse-based Airbus on Thursday announced plans to increase its production rate for the long-range aircraft to 12 units per month in 2028. Airbus reported gross commercial aircraft orders of 170 in the quarter, almost half of which were variants of the A350. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer.

Persons: Thomas Toepfer, CNBC's Charlotte Reed, Toepfer Organizations: Airbus, Boeing Locations: Bouguenais, Nantes, France, U.S, Toulouse

☆ Reid Hoffman interviewed his AI deepfake and it was pretty convincing
▼ + stars: | 2024-04-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Reid Hoffman sat down for an interview with a deepfake of himself. The bot discussed AI regulation and spoke in Klingon during the conversation. Reid AI and Hoffman asked each other questions throughout the interview posted Wednesday. AdvertisementIn their conversation, the two Reids discussed AI regulation, its capabilities, and ways Hoffman can improve his LinkedIn profile. Advertisement"There's a need for a framework that not only fuels innovation but also ensures AI benefits are fairly distributed, all while focusing on enhancing public good," Reid AI said.

Persons: Reid Hoffman, —, Reid Hoffman's, Jerry Seinfeld, Reid, Hoffman, I've, deepfakes Organizations: Service

☆ Anglo American rejects BHP's $39 billion takeover bid to form mining juggernaut
▼ + stars: | 2024-04-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Australia-based BHP on Thursday said it had made an all-share takeover offer which valued the smaller company at £31.1 billion ($38.9 billion). "The BHP proposal is opportunistic and fails to value Anglo American's prospects, while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders," he said. Anglo American Chairman Stuart Chambers said the proposed restructure was "highly unattractive, creating substantial uncertainty and execution risk borne almost entirely by Anglo American, its shareholders and its other stakeholders." Shares of Anglo American Platinum rose more than 2% on the announcement, while Kumba Iron Ore moved 0.9% lower. Chambers said that, in its current state, Anglo American was "well positioned" to benefit from that energy transition.

Persons: BHP's, Stuart Chambers, Chambers, — CNBC's Jenni Reid Organizations: BHP Group, BHP, CNBC, Limited, Iron Ore Limited Locations: Australia, London, American, South Africa

☆ UK tech darling Darktrace rallies 17% after agreeing $5.32 billion private equity sale to Thoma Bravo
▼ + stars: | 2024-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

In this photo illustration a DarkTrace logo is displayed on a smartphone with stock market percentages in the background. LONDON — British cybersecurity firm Darktrace on Friday announced it had agreed a sale to U.S. private equity giant Thoma Bravo, for an all-cash offer of $5.315 million. Darktrace shares were 17% higher at 10:26 a.m. London time. Darktrace was founded in 2013 and is based in the U.K. city of Cambridge, which has attracted a cluster of tech firms over the last decade. Darktrace on Friday said it had rejected previous unsolicited proposed offers from Thoma Bravo because the tech company assessed they did not fairly value the business.

Persons: Darktrace, Thoma, Thoma Bravo, Mike Lynch Organizations: Thoma Bravo, London Stock Exchange Locations: London, U.S, Asia, U.K, Cambridge, Darktrace, Thoma

☆ Deutsche Bank posts better-than-expected profit in first quarter amid investment banking recovery
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Deutsche Bank on Thursday reported a 10% rise in first-quarter profit, beating expectations amid an ongoing recovery in its investment banking unit. Net profit attributable to shareholders was 1.275 billion euros ($1.365 billion) for the period, ahead of an aggregate analyst forecast of 1.23 billion euros for the period, according to LSEG data. Deutsche Bank said this was its highest first-quarter profit since 2013. Revenues at its investment bank increased 13% to 3 billion euros, following a 9% slump through full-year 2023 which had dragged down overall profit. Germany's biggest lender reported net profit of 1.3 billion euros in the prior quarter and of 1.16 billion euros in the first quarter last year.

Persons: James von Moltke, CNBC's Annette Weisbach Organizations: Deutsche Bank, Deutsche Bank's, Private Bank, Asset Management

☆ Anglo American shares pop 12% after BHP Group's $39 billion takeover bid to form mining juggernaut
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American , valuing the smaller company at £31.1 billion ($38.9 billion). Anglo American shares leapt at the market open and were 12% higher at 9 a.m. in London. Australia-based BHP, the biggest listed miner according to Companies Market Cap, said that the deal would deliver 0.7097 BHP shares per Anglo American share to Anglo American's ordinary shareholders. Anglo American has a huge copper operation based in South America and a production target for the metal of 730,000 to 790,000 tons in 2024. This compares with a copper output aim between 1.7 million and 1.9 million for BHP over the same period.

Organizations: Mining, BHP Group, BHP Locations: London, Australia, American, South America

☆ Alphabet set to report first-quarter results after market close
▼ + stars: | 2024-04-25 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Revenue: $78.59 billion, according to LSEG. : $7.72 billion, according to StreetAccount. Traffic acquisition costs (TAC): $12.74 billion, according to StreetAccount. Wall Street is expecting Alphabet to report a second straight quarter of year-over-year revenue growth in the low teens. CEO Sundar Pichai told employees in January that more job cuts were likely coming in 2024, though he didn't specify at the time which teams would be affected.

Persons: Sundar Pichai, Prabhakar Raghavan, Raghavan, Liz Reid, Meta, Mark Zuckerberg's, Ruth Porat Organizations: Google, TAC, OpenAI, Microsoft, CNBC Locations: Brussels, Belgium, LSEG, StreetAccount

☆ UBS chair says Swiss banking giant is not 'too big to fail'
▼ + stars: | 2024-04-24 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

UBS Group Chairman Colm Kelleher on Wednesday said that the Swiss bank is "not too big to fail," as he criticized Swiss government proposals to strengthen its capital requirements. Kelleher was delivering a speech during the UBS Annual General Meeting — the first such gathering held since the bank completed the takeover of its former rival Credit Suisse last summer. "UBS is not too big to fail. UBS is one of the best capitalized banks in Europe, with a sustainable business model and a corresponding low-risk balance sheet," Kelleher said. This is a breaking news story and will be updated shortly.

Persons: Colm Kelleher, Kelleher Organizations: UBS, Credit Suisse Locations: Swiss, Europe

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicThe prosecution and the defense both opened their cases on Monday in the first criminal trial of Donald Trump. Jonah Bromwich, who watched from inside the courtroom, walks us through the arguments.

Persons: Donald Trump, Jonah Bromwich Organizations: Spotify

☆ Market veteran Howard Marks says Fed is 'not going back' to ultra-low rates
▼ + stars: | 2024-04-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The Federal Reserve will not bring interest rates back down to their post-financial crisis lows, according to veteran investor Howard Marks — and he believes that's a good thing. "The U.S. economy is doing quite well, and so it's not clear that it requires stimulus," Marks told CNBC's Frank Holland on Tuesday. The current federal funds target rate of 5.25% to 5.5% is an "emergency measure designed to cool off the economy and inflation," Marks continued. I think that's in the threes." "I think that interest rates should most of the time be set by the free market.

Persons: Howard Marks —, that's, Marks, CNBC's Frank Holland, we're Organizations: Federal Reserve Locations: U.S

☆ Google search boss warns employees of 'new operating reality,' urges them to move faster
▼ + stars: | 2024-04-23 | by ( Jennifer Elias | ) www.cnbc.com time to read: +9 min

"If there's a clear and present market reality, we need to twitch faster, like the athletes twitch faster," he said. The spokesperson highlighted the addition of generative AI to search and improvements in search quality, adding, "There's lots more to come." In March, Google named company veteran Elizabeth Reid to the role of vice president, leading search and reporting to Raghavan. "We're in a new cost reality," Raghavan said. Demis Hassabis, Google's AI leader, said in February after the tool was taken down that it would be re-released in weeks.

Persons: Prabhakar Raghavan, Julia Nikhinson, Raghavan, Sundar Pichai, TikTok, dory, Elizabeth Reid, Ruth Porat, We've, Jonathan Raa, we've, they've, Demis, Bard, Pichai, That's Organizations: Google, US, Bloomberg, Getty, CNBC, Mazda, Microsoft, Google Gemini, Nurphoto, Union's, European Commission, Gemini Locations: Washington , DC, Mountain View , California, Silicon Valley, India, Brazil, Brussels, Belgium

☆ Will Trump testify? What he says and why it’s a risky bet
▼ + stars: | 2024-04-22 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Video Ad Feedback Smerconish: Will Trump testify? While he is under no obligation to testify, Trump has promised he will. And the truth is that there’s no case, they have no case,” Trump said. When juries and a judge have seen Trump testify, he lostThe first Carroll trial jury in 2023 was played a videotape of Trump’s deposition by lawyers. Not a hush money case, but an election interference caseOne other key thing to note out of the prosecution’s opening statement is that they want to portray this case as an election interference case rather than a hush money case.

Persons: Donald Trump, Trump, Michael Cohen, National Enquirer David Pecker, Cohen, Pecker, Will Trump, I’m, ” Trump, Juan Merchan, Kara Scannell, Lauren del Valle, Jeremy Herb, E, Jean Carroll, ►, – Trump, Merchan, Hillary Clinton, Joey Jackson, Jackson, “, Jake Tapper, Will Scharf, Scharf, ”, ” Scharf, Carroll, Marla Maples, Read, Feedback Trump, Arthur Engoron, reimbursing Cohen, Stormy Daniels, Clifford, Daniels, … … …, CNN’s Paula Reid Organizations: CNN — Prosecutors, New, National Enquirer, Trump, CNN, Mar, Trump Organization, Prosecutors Locations: New York

☆ Networks Covering Trump’s Trial: No Courtroom Scenes, but Look at the Text on Our Screen
▼ + stars: | 2024-04-22 | by ( John Koblin | ) www.nytimes.com time to read: +1 min

A little after 10:30 a.m., just as a prosecutor began delivering his opening statement in Donald J. Trump’s Manhattan criminal trial, CNN’s chief legal correspondent, Paula Reid, had a live on-air update. “We’re learning that Trump is sitting back in his chair,” Ms. Reid said, “and not even looking at the prosecutor as he speaks.”This could make for a compelling visual, if only viewers could see Mr. Trump. Instead, CNN viewers saw Ms. Reid sitting on a blustery balcony somewhere outside the courthouse alongside the prime-time anchors Anderson Cooper and Kaitlan Collins. Together they tried to navigate a challenging assignment: how to cover a historic trial when network cameras aren’t allowed inside? Mr. Trump’s trial began in earnest on Monday, a remarkable event when a former president was being tried in a criminal case — and where television cameras are banned, forcing members of the TV and news media to figure out creative approaches to in-the-moment coverage.

Persons: Donald J, Paula Reid, Trump, ” Ms, Reid, Anderson Cooper, Kaitlan Collins, Trump’s Organizations: CNN

☆ Here's what 12 European Central Bank members said about interest rates this week
▼ + stars: | 2024-04-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +7 min

The ECB opted to hold rates steady in April and next meets to vote on monetary policy on June 6. Christine Lagarde, president of the ECBThe ECB's figurehead delivered a firm message that reflected her statements in recent press conferences: markets should expect an interest rate cut soon, barring major surprises. watch nowGabriel Makhlouf, governor of the Central Bank of IrelandMakhlouf said the most recent data sets had shifted his view on rates. "We don't follow the Fed... and now the ECB will be the central bank to be followed," Šimkus said. One could have cut rates way back in March or even April," he continued, adding that he hoped a majority of Governing Council members would back a June cut.

Persons: Kirill Kudryavtsev, Christine Lagarde, Lagarde, CNBC's Sara Eisen, Galhau, Villeroy, Karen Tso, Joachim Nagel, Germany's, Nagel, Robert Holzmann, Mario Centeno, Centeno, Gabriel Makhlouf, Central Bank of Ireland Makhlouf, we've, Makhlouf, Pierre Wunsch, Wunsch, Boris Vujčić, Jerome Powell, Vujčić, Gediminas Šimkus, Bank of Lithuania Šimkus, Šimkus, Edward Scicluna, Central Bank of Malta Scicluna, Kazāks, Bank of Latvia Kazāks, Olli Rehn, Rehn Organizations: Afp, Getty, International, European Central Bank, CNBC, ECB, Bank of France, Council, Austrian Central Bank One, Bank of Portugal, Central Bank of Ireland, National Bank of, Croatian National Bank, Federal, U.S, Bank of Lithuania, Central Bank of, Governing, Bank of Locations: Frankfurt, Germany, New York, ECB's, National Bank of Belgium, U.S, Europe, Central Bank of Malta, Bank of Latvia, Bank of Finland

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicDebates over homeless encampments in the United States have intensified as their number has surged. To tackle the problem, some cities have enforced bans on public camping. As the Supreme Court prepares to hear arguments about whether such actions are legal, Abbie VanSickle, who covers the court for The Times, discusses the case and its far-reaching implications.

Persons: Abbie VanSickle Organizations: Spotify, The Times Locations: United States

☆ European markets head for lower open with eyes on Israel and Iran; rate repricing remains in focus
▼ + stars: | 2024-04-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stock markets are set to open sharply lower Friday, rounding off a week in which escalating tensions in the Middle East and repricing of interest rate expectations have been in focus. After a strong start to 2024, the index is heading for its first monthly loss of the year in April. In the latest back-and-forth between the countries, Israel launched a limited direct military attack on Iranian soil early Friday morning. Investors are monitoring a slew of commentary on the path of interest rates emerging from the International Monetary Fund's Spring Meetings in New York. But markets have become significantly less confident there will be a June cut from the U.S. Federal Reserve or Bank of England, after two hotter-than-expected inflation prints.

Persons: François Villeroy de Galhau, Christine Lagarde Organizations: International, European Central Bank, CNBC, U.S . Federal Reserve, Bank of England Locations: Israel, New York

☆ Risk of a global recession is minimal, IMF economist says — would take 'a lot to derail'
▼ + stars: | 2024-04-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

"When we do the risk assessment around that baseline, the chances that we would have something like a global recession is fairly minimal. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and projects the same rate in 2025. One of the International Monetary Fund's top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. That has all combined with the ongoing Russia-Ukraine war, which had its biggest wider impact on energy prices in Europe in 2022. And that's one of the big risks that we do see, the implications that could have for oil prices could be substantial.

Persons: Gourinchas, Pierre, Olivier Gourinchas, Karen Tso, Gita Gopinath, we're Organizations: U.S, IMF, Washington DC, International Monetary, Palestinian, Hamas, CNBC Locations: Europe, New York, Germany, France, Italy, Spain, Portugal, Belgium, Gaza, Red, Yemeni, Russia, Ukraine, Asia, Israel, Iran

☆ The Fed may have pumped so much money into the economy that it's now taking way longer to cut rates
▼ + stars: | 2024-04-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

So the Fed can keep interest rates higher for longer to cool price rises — although the central bank also has room to cut should the labor market "unexpectedly weaken," Powell added. Related storyHigher interest rates make borrowing more expensive for anything from mortgages to credit cards — it encourages people to save rather than spend, which in theory, helps bring down prices. AdvertisementConversely, lower interest rates encourage borrowing and spending — thus driving the economy when growth slows, such as during the COVID-19 pandemic when the Fed cut rates massively and pumped money into the system. But Reid thinks the excess money could be drained from the economy later this year, when money supply in the economy normalizes. AdvertisementDemand, supply chain snarls, and fiscal stimulus also contribute to inflationTo be sure, money supply isn't the only thing that contributes to inflation.

Persons: —, Jerome Powell, Powell, Jim Reid, it's, Reid, Bill Dudley Organizations: Service, Wilson Center, Business, Fed, Deutsche Bank, Federal Reserve, Bloomberg Locations: Washington, New York, Dudley

☆ UK inflation eases less than expected to 3.2% in March, sparking concerns of U.S.-style stickiness
▼ + stars: | 2024-04-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Food prices provided the biggest downward drag on the headline rate, the ONS said, while motor fuels pushed it higher. The core figure, excluding energy, food, alcohol and tobacco, came in at 4.2%, compared with a projection of 4.1%. Services inflation, a key watcher for U.K. monetary policymakers, declined from 6.1% to 6% — again above the expectations of both economists and the BOE. This week, investors have been monitoring signs of a cooling U.K. labor market, with unemployment unexpectedly rising to 4.2% in the period between December and February. The central bank's own forecast is for inflation to "briefly drop" to its 2% target in the spring before increasing slightly.

Persons: BOE, BOE Governor Andrew Bailey Organizations: National Statistics, Bank of England, Reuters, Federal Reserve Locations: U.S

Search resuls for: "Reid"

25 mentions found