DIRS.INFO The most relevant business & tech news

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Scholz, Lindner, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones, Deepa Babington Organizations: Climate, Finance, BERLIN, Greens, Social Democrats, Free Democrats, FDP, ZDF, Thomson Locations: Germany, Europe's, East Germany, China

These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe

☆ Infineon reports better-than-expected 2023 revenue on semiconductor demand
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated. Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros. "Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated," said Chief Executive Jochen Hanebeck. The company is forecasting slightly slower revenue growth for the 2024 fiscal year of 17 billion euros, plus or minus 500 million.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Jochen Hanebeck, Miranda Murray, Linda Pasquini Organizations: Infineon, REUTERS, Rights, Revenue, Thomson Locations: Dresden, Germany, China

☆ Infineon signs semiconductor supply deal with automakers Hyundai, Kia
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Oct 18 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) said on Wednesday it has signed a multi-year agreement with Hyundai and Kia to supply power semiconductors for the production of electric cars. Infineon will build and reserve manufacturing capacity to supply silicon carbide and silicon power modules and chips to Hyundai and Kia until 2030, with the two carmakers to support the project with financial contributions, Infineon said in a statement. "This partnership not only empowers Hyundai Motor and Kia to stabilise its semiconductor supply but also positions us to solidify our leadership in the global EV (electric vehicle) market," Heung Soo Kim, Hyundai's Executive Vice President, said in a statement. Reporting by Rachel More, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Heung Soo Kim, Rachel More, Louise Heavens Organizations: Infineon, REUTERS, Rights, Hyundai, Kia, Hyundai Motor, Thomson Locations: Dresden, Germany

☆ Big Tech is promising AI assistants straight out of 'Iron Man' in an attempt to tackle our endless lists of 'crapmin'
▼ + stars: | 2023-10-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Microsoft, Meta, and more are touting AI assistants that are far more advanced than Siri and Alexa. These AI assistants have the potential to deal with tedious digital tasks, or "crapmin." From Microsoft to Meta, tech companies leading the charge in AI are starting to make clear what the future of AI looks like to them. Meta's AI assistant "surfaces options directly in the chat, so you can decide as a group which location to explore." Letting an AI assistant take care of all aspects of our "crapmin" will require a lot of confidence in its capabilities.

Persons: Siri, Alexa, Tony Stark's Jarvis, —, Man's, AI's Jarvis, Iron, Satya Nadella, Mark Zuckerberg, resuscitating, Zuckerberg, –, Jarvis, they've, Copilot, Yusuf Mehdi, Bing, Mehdi Organizations: Microsoft, Meta, Service, Man's Stark Industries, Meta's Connect, Bing Locations: California

☆ Lost Truman Capote story published after discovery in notebook
▼ + stars: | 2023-09-22 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +3 min

CNN —An unknown story by Truman Capote has been published for the first time, after it was discovered hiding in plain sight in a red notebook belonging to the acclaimed author. Capote, a famous American writer and novelist, was born in New Orleans in 1924 and died in 1984. “Then in a red notebook, there was a handwritten short story from Truman Capote. “The whole work of finding these unpublished works is something which I have to say is satisfying when it comes to fruition. But generally it’s something very, very frustrating, because you’ll find that you’re always coming up with nothing,” he told CNN.

Persons: Truman Capote, Capote, ”, Andrew F, Gulli, James M, Cain, Iris Greentree, jilts, “ It’s, Ernest Hemmingway, John Steinbeck, H.G, you’re, aren’t Organizations: CNN, of Congress, Truman Locations: American, New Orleans, Washington’s, Sicily, Wells

NEW YORK (AP) — Along with such classics as “In Cold Blood” and “Breakfast at Tiffany's,” Truman Capote had a history of work left uncompleted and unpublished. “I am so happy to be writing stories again — they are my great love," he wrote to a friend. She’d trusted him to the extent of her capital: let him sell her the land, allowed him to build the villa, supply, at pirate prices, the native paraphernalia that furnished it,” Capote wrote. Thomas Fahy, author of “Understanding Truman Capote,” says that the author likely related to Iris Greentree's sense of displacement and alienation. “You could see how his life became very lonely and isolated.”The Strand has published rare works by Ernest Hemingway, John Steinbeck and many others.

Persons: ” Truman Capote, Capote, “, Fontana Vecchia, Lawrence, Miriam, ”, —, Iris Greentree, Signor Carlo Petruzzi, Carlo, She’d, ” Capote, who’d, Thomas Fahy, Truman Capote, Iris Greentree's, ” Fahy, Ernest Hemingway, John Steinbeck, Andrew Gulli, Fahy, Gerard Clarke, Jack Dunphy, Clarke, Fontana, “ Blond Organizations: Magazine, of Congress Locations: New York City, Taormina, Sicily, D.H, Europe, American, “, Belle Vista, New York, New Orleans, Alabama, Connecticut, Monroeville , Alabama, Italy, America

☆ Man United lose again, Guardiola back to see City comeback win
▼ + stars: | 2023-09-16 | by ( Peter Hall | ) www.reuters.com time to read: +4 min

Fightbacks were the order of the day as Liverpool recovered from falling behind to win 3-1 at Wolverhampton Wanderers in the early kickoff and two goals deep into stoppage time earned Tottenham Hotspur a 2-1 win over Sheffield United. After another tumultuous week off the pitch for Manchester United, the club needed the players to lift their supporters. United fell behind in the 20th minute when Danny Welbeck slotted home against his former club when left unmarked in the penalty area. "Definitely that (losing three from five for the first time in Premier League history) is something that bothers me, but also I have to seen the way we play," coach Erik ten Hag said. Tottenham were heading for their first Premier League defeat under Ange Postecoglou as they trailed to Gustavo Hamer's goal against the run of play in the 75th minute.

Persons: Hove Albion's Pascal Gross, Danny Welbeck, Adam Lallana REUTERS, Molly Darlington, Pep Guardiola, Fightbacks, Rasmus Hojlund, Marcus Rashford, Pascal Gross, Joao Pedro, Hannibal Mejbri, Erik ten Hag, Guardiola, Jeremy Doku, Bernardo Silva, Erling Haaland, James Ward, Hwang Hee, Mohamed Salah, Cody Gakpo, Andy Robertson, Salah, jubilation, Ange Postecoglou, Gustavo Hamer's, Richarlison, Dejan Kulusevski, Peter Hall, Ed Osmond Organizations: Soccer Football, Premier League, Manchester United, Brighton & Hove Albion, Hove Albion's Pascal, Rights, Manchester City side's, West Ham United, Liverpool, Wolverhampton Wanderers, Tottenham Hotspur, Sheffield United, Brighton, United, CITY, London, New, BBC, Wolves, Molineux, 200th Premier League, Tottenham Hotspur Stadium, Tottenham, Aston Villa, Crystal, Fulham, Luton Town, Newcastle United, Brentford, Thomson Locations: Old Trafford, Manchester, Britain, Brighton, Rights MANCHESTER, England, Danish, Liverpool, Brighton . City

☆ Jimmy Buffett, Roguish Bard of Island Escapism, Is Dead at 76
▼ + stars: | 2023-09-02 | by ( Bill Friskics-Warren | ) www.nytimes.com time to read: +1 min

His claim to squandering his wealth notwithstanding, Mr. Buffett proved to be a shrewd manager of his considerable fortune; in 2023, Forbes estimated his net worth at $1 billion. Mr. Buffett was also an accomplished author, one of only six writers, along with the likes of Ernest Hemingway, John Steinbeck and William Styron, to top both The Times’s fiction and nonfiction best-seller lists. By the time he wrote “Tales from Margaritaville” (1989), the first of his three No. “I could wind up like a lot of my friends did, burned out or dead, or redirect the energy,” he told The Washington Post in 1989. It was fun — all that hard drinking, hard drugging.

Persons: Buffett, Anthony DeCurtis, Bill Gates, Donald Trump, Trump, Mr, Ernest Hemingway, John Steinbeck, William Styron, Margaritaville ”, “, ”, “ I’m, ” “ Organizations: Forbes, The New York Times, Washington Post Locations: Caribbean

☆ Political violence in polarized U.S. at its worst since 1970s
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +26 min

Three academics who reviewed the cases say they add to growing evidence that America is grappling with the biggest and most sustained increase in political violence since the 1970s. Political violence surged for nearly a decade starting in the late-1960s – 1970 alone saw more than 450 cases, LaFree said. In contrast, much of today’s political violence is aimed at people – and most of the deadly outbursts tracked by Reuters have come from the right. “Political warfare”There’s no official tally of how many Americans die each year from political violence. Most of the fatal political violence identified by Reuters was carried out by people who embraced far-right views.

Persons: Kristen King’s, King, “, Austin Combs, ”, “ He’s, wailed, Anthony King, Donald Trump, Gary LaFree, LaFree, Rachel Kleinfeld, Carnegie’s Kleinfeld, Trump, Christopher Wray’s, Combs, Let’s, Joe Biden, Dave Spurrier, ” Combs, Wayne Staton, gaunt, Bri Smith, “ honk, Bubba, Ross, Cody Lee Harbaum, ” Harbaum, Edgar, Floyd Rockwell, Terry B’s, “ Hillary, Kim Jenkins, Patti Betz, “ Austin, Betz, Miss Patti, ‘, ” Betz, Paul Pelosi, Nancy Pelosi, Paul, Nancy Pelosi’s, Katie Pridemore, Shawn Popp, Popp, Donald Henry, Henry, ’, Craig Greenberg, Quintez Brown, Greenberg, Brown, ” Brown, Robert Telles, Telles, Benjamin Smith, Dajah Beck, Beck, Smith, Allie Bradley, “ You’re, Bradley, Kristine Christenson, Ben Smiths, rightwing hecklers, ” Bradley, Knightly’s, Katherine Knapp, King’s, Kristen, Pridemore Organizations: Democrat, Reuters, U.S . Capitol, University of Maryland criminologist, Oklahoma, Federal Bureau of, Carnegie Endowment, International, Democratic, Trump, U.S . Department of Homeland Security, Republican, Democratic Party, Republican Party, Miss, . House, San, U.S, Capitol, Media, Attorney’s Office, Judicial, Las, Veterans, Pridemore Locations: OKEANA, Ohio, Okeana, America, Florida, Portland, Buffalo, Washington, Butler County, Brandon, Butler, Hamilton, San Francisco, Wisconsin, New Mexico, U.S, Louisville , Kentucky, China, Taiwan, California, Clark County , Nevada, Las Vegas, Normandale, Portland , Oregon, ”

☆ 13 Hollywood production companies making brand films that streamers like Netflix and Apple want to buy
▼ + stars: | 2023-08-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

said Marc Gilbar, who runs the brand division at Imagine Entertainment. Some are also looking to brand films to offset some of the revenue they're losing in the dual Hollywood strikes. (Brand films are often unscripted and thus aren't governed by the Hollywood unions.) They also see brand work being a positive for below-the-line workers who are idled by the work stoppage. Led by EVP Kate Oppenheim, Tribeca Studios' projects have included "We Could be King" (ESPN2) for Dick's Sporting Goods and P&G's Queen Collective series (BET).

Persons: Ben Silverman, Issa Rae's Hoorae, Kevin Hart's Hartbeat, Julian Jacobs, we've, Marc Gilbar, Samuel L, Jackson, Emma Stone, Zac Ryder, Olivia Wilde, Laurene Powell Jobs, Caitlin McGinty, It's, James Gay, Rees, Paul Martin, Kevin Hart's, Hart, Hartbeat, Brian Price, Chase Sapphire, Procter, Reese Witherspoon, Zoe Fairbourn, Ron Howard, Brian Grazer's, Ron Howard's, Bryce Dallas Howard, Gilbar, Rocco DiSpirito, General Mills, Rupert Maconik's Saville, Werner Herzog, Barry Levinson, Sugar23, Oscar, Michael Sugar, Trevor Noah's, he's, Kennedy, Matt Rotondo helms, Sugar, Mike Beck, Alexa Conway, Trevor Noah, Kate Oppenheim, HBO Max, Paul McCartney, Mary McCartney Ventureland, Kerstin Emhoff, Paul Hunter, John Battsek, Stacy's Pita Chips, Will, Jada Pinkett, REI, Gargi Organizations: Hollywood, Brands, Mattel, Netflix, Apple, UTA, Imagine Entertainment, Producers, Adobe, IBM, Anonymous, HP, Afghan Girls National Soccer Team, Showtime, Pepsi Boardwalk Pictures, Relativity Media, Super, Pepsi, REI, Unilever, Marriott, Surf League, Major League Soccer, Sam's, Gamble, Weinstein Co, Hulu, Imagine, Paramount, Saville Productions, Disney, Time Studios, Procter & Gamble, Anheuser, Busch, InBev, CAA, Studios, MSNBC, ABC, NBC, Tribeca Studios, Dick's Sporting Goods, HBO, CNN, Mobile, Stacy's, Everest, Vice Studios, Westbrook Media, Meta, Logitech, Samsung Locations: Hollywood, Subway, Magnolia

☆ Infineon boosts Malaysia investment as Q3 revenue above forecast
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

For the full year, Infineon expects investments amounting to approximately 3 billion euros. The planned expansion of the Kulim fab is backed by customer commitments covering about 5 billion euros and about 1 billion euros in pre-payments, said Infineon, which said it would invest up to an additional 5 billion euros over the next five years. The company expects the expanded facility - together with its plant in Villach, Austria - to generate annual revenues of 7 billion euros. The company on Thursday confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted, or "segment", result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Schwarz, Jochen Hanebeck, Ford, China's Cherry, Infineon's, Miranda Murray, Christina Amann, Friederike Heine, William Mallard Organizations: Infineon Technologies, REUTERS, Infineon, Lang, Semiconductor, SAIC, Thomson Locations: Dresden, Germany, Malaysia, BERLIN, electromobility, Villach, Austria

☆ Infineon shares slump on Q4 warning, eyes Malaysia expansion
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

Infineon forecast revenue of around 4 billion euros ($4.37 billion) in the fourth quarter, below expectations of 4.14 billion euros, according to IBES data from Refinitiv. The company, however, confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%. MALAYSIA FACTORYInfineon said it will invest 5 billion euros over the next five years to build a power chip plant in Malaysia, on top of the 2 billion euros investment it had planned last year. For the full year, Infineon expects investments amounting to approximately 3 billion euros.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Gartner, Jochen Hanebeck, Infineon's, China's Cherry, Miranda Murray, Christina Amann, Friederike Heine, William Mallard, Kim Coghill Organizations: Infineon Technologies, REUTERS, Infineon, AMD, Qualcomm, JPMorgan, Semiconductor, MALAYSIA, Ford, SAIC, Thomson Locations: Dresden, Germany, Malaysia, Refinitiv, Infineon's, Villach, Austria, German

☆ Tyne Daly and Liev Schreiber to Lead Broadway ‘Doubt’ Revival
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Tyne Daly and Liev Schreiber will star in a revival of “Doubt: A Parable” on Broadway this season. The play, by John Patrick Shanley, is about a nun who suspects a priest has sexually abused a student at a Catholic school. (All Broadway theaters are planning to dim the lights of their marquees for one minute at 6:45 p.m. tonight in Haimes’s memory.) Daly, who will play the nun who serves as the school principal, and Schreiber, who will play the parish priest, are both Tony winners. “Doubt” will be one of three plays staged by Roundabout on Broadway this season.

Persons: Tyne Daly, Liev Schreiber, John Patrick Shanley, Scott Ellis, Todd Haimes, Daly, Schreiber, Tony, “ Cagney, Lacey, ”, ” Schreiber, “ Ray Donovan, Glengarry Glen, Theresa Rebeck, Danny DeVito, Lucy, Kenny Leon, Williams Organizations: Broadway, Roundabout Theater Company, American Airlines Theater Locations: Glengarry Glen Ross

☆ Zelenskiy: Ukraine, West can make Russia's defeat 'irreversible' this year
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +2 min

KYIV, May 14 (Reuters) - President Volodymyr Zelenskiy said on Sunday that Kyiv and its Western supporters could make Russia's defeat in the war in Ukraine "irreversible" this year, as he thanked Germany for its military support. The Ukrainian leader told a joint news conference with German Chancellor Olaf Scholz in Berlin that Kyiv would always be grateful to Germany for its support during Russia's full-scale invasion. "Now is the time for us to determine the end of the war already this year, we can make the aggressor's defeat irreversible already this year," he said. "The war is happening on the territory of our country and so any peace plan will be based on Ukraine's proposals," he said. Reporting by Pavel Polityuk Writing by Tom Balmforth Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk once praised a rocket CEO who didn't go to college for beating Jeff Bezos to orbit, new book reveals: 'Bezos has spent a shitload of money, and he hasn't made it'
▼ + stars: | 2023-05-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

A new book reveals Elon Musk once praised a rival New Zealand rocket CEO in a 2018 phone call. Musk said it was "impressive" that Rocket Lab launched a rocket into orbit before Blue Origin, per the book. Like SpaceX, Rocket Lab has been able to launch rockets into orbit — something Bezos' Blue Origin company has not yet achieved. In March, Rocket Lab launched its 35th Electron rocket just a week after launching its 34th Electron rocket. Neither Rocket Lab, Blue Origin, nor Musk responded to Insider's requests for comment.

☆ Marjorie Taylor Greene says that 'everyone I've talked to' is boycotting Fox and deleting its app after Tucker Carlson's ousting
▼ + stars: | 2023-04-26 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

Marjorie Taylor Greene said "everyone" she talks to is shunning Fox News after Tucker Carlson's exit. They have deleted Fox News on their phones and canceled their Fox Nation subscriptions, she said. Fox Corporation stock fell as much as 5% on Monday after Carlson's shock departure was announced. Fox News said on Monday that the network and Carlson, who was their top-rated host, had "agreed to part ways." "That's what they think they're doing to Tucker Carlson.

☆ AOC celebrates as Tucker Carlson is ousted from Fox News: 'Couldn't have happened to a better guy'
▼ + stars: | 2023-04-25 | by ( Natalie Musumeci | Madison Hall | ) www.businessinsider.com time to read: +2 min

Rep. Alexandria Ocasio-Cortez celebrated Tucker Carlson's bombshell ousting at Fox News. "Couldn't have happened to a better guy," Ocasio-Cortez said in a video posted to her Instagram. Still, Ocasio-Cortez said she is wary that Carlson will bounce back. Fox News announced it had parted ways with Carlson, the network's top host, on Monday. Several prominent right-wing personalities, such as Glenn Beck and Matt Walsh, voiced their displeasure and shock about Carlson's firing on Twitter on Monday.

☆ Ex-Fox News hosts Glenn Beck and Megyn Kelly are trashing its decision to cut Tucker Carlson: 'A suicidal move'
▼ + stars: | 2023-04-25 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Ex-Fox News hosts Glenn Beck and Megyn Kelly trashed the network over Tucker Carlson's ousting. "To me, this is a suicidal move for Fox," Beck said after Fox News cut ties with Carlson. Kelly said, "This is a terrible move by Fox, and it's a great thing for Tucker Carlson." Ex-Fox News hosts Glenn Beck and Megyn Kelly trashed the network for suddenly cutting ties with its primetime star Tucker Carlson, slamming it as a "suicidal" and "terrible" move. "This is a terrible move by Fox, and it's a great thing for Tucker Carlson," Kelly said on Monday's episode of her SiriusXM program "The Megyn Kelly Show."

☆ Haaland at it again as Manchester City cut gap to Arsenal
▼ + stars: | 2023-04-15 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, April 15 (Reuters) - Manchester City goal machine Erling Haaland reached yet another milestone in his incredible debut season in the Premier League when his two goals helped his side to beat Leicester City 3-1 and move to within three points of leaders Arsenal on Saturday. With Arsenal in action at West Ham United on Sunday, Manchester City seized their chance to apply more pressure by dismantling 19th-placed Leicester before halftime. City now have 70 points from 30 games with Arsenal on 73. Villa have 50 points, with Tottenham on 53 and fourth-placed Manchester United and Newcastle United both on 56. Newcastle and Manchester United, who face Nottingham Forest on Sunday, have played fewer games than Villa and Tottenham.

☆ The collapse of Silicon Valley Bank foreshadows a bigger reckoning for the tech industry
▼ + stars: | 2023-03-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

In the days since the stunning collapse of Silicon Valley Bank, I've seen the tech world point a lot of fingers. Silicon Valley Bank imploded in part because it was a repository for the riskiest behaviors of the industry it serviced. In spite of this reality, there has been little self-reflection on the part of the industry that was so closely tied to Silicon Valley Bank. Silicon Valley Bank thrived on these trends. But to grow at the breakneck speed of its clients, Silicon Valley Bank executives had to change things in Washington.

☆ SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
▼ + stars: | 2023-03-14 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales. Becker sold $3.6 million worth of shares on Feb. 27, just days before the bank disclosed a large loss that triggered its stock slide and collapse. The sale capped two years of stock sales by Becker that totaled $29.5 million, according to data from Smart Insider. Altogether, SVB executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider. The sales have sparked criticism of SVB's management — as well as the broader phenomenon of insider stock sales before major declines.

☆ SEC and Justice Department reportedly investigating SVB's collapse, including insider stock sales
▼ + stars: | 2023-03-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

People queue up outside the headquarters of Silicon Valley Bank to withdraw their funds on March 13, 2023 in Santa Clara, California. The Securities and Exchange Commission and the Justice Department are investigating how Silicon Valley Bank became the second largest bank failure in U.S. history, the Wall Street Journal reported Tuesday. In addition to backstopping the deposits at SVB and Signature Bank, federal regulators also announced an additional funding facility for troubled banks. Daniel Beck, CFO of SVB, sold 2,000 shares of SVB Financial on Feb. 27, the same day that CEO Gregory Becker exercised options on 12,451 shares and sold them, regulatory filings showed. CNBC reported Monday that regulators could make a second attempt to sell the failed SVB after the auction over the weekend led nowhere.

Greg Becker and two top lieutenants, Chief Financial Officer Daniel Beck and President Michael Descheneaux , were at the helm of Silicon Valley Bank as it rode a wave of low rates and easy-money policies. Last year, when the world changed and the Federal Reserve started raising rates at its fastest pace in decades, they all but ignored it, betting that interest rates would fall and homing in on the boom-and-bust tech industry.

☆ A subsidy arms race is kicking off between Europe and America
▼ + stars: | 2023-02-10 | by ( Julia Horowitz | ) edition.cnn.com time to read: +10 min

This premium is expected to shrink as clean energy technologies become more advanced and infrastructure to produce them is scaled up. Most of the money the IRA has earmarked for clean energy initiatives comes in the form of tax credits. In the meantime, government officials are lobbying the United States to rethink parts of the IRA. “Europe and other allied countries have nothing to fear from the Inflation Reduction Act and quite a bit to gain,” said Brian Deese, Biden’s top economic adviser. The fight over green subsidies also comes as geopolitical tensions are pushing countries to focus on greater localization of production — not just for green energy, but also for sensitive technologies like computer chips.

Search resuls for: "Beck and"

25 mentions found