DIRS.INFO The most relevant business & tech news

☆ Dutch polls, first in years without PM Rutte at VVD helm, set for November
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] People sit on benches with a view of the parliament building in The Hague, Netherlands March 9, 2021. Rutte announced his imminent departure from politics on Monday, three days after he had handed in the resignation of his fourth coalition government. Other major parties will also have new leaders, as Finance Minister Sigrid Kaag and Foreign Minister Wopke Hoekstra have also said they won't run in the elections. Rutte's four-party coalition will stay on as caretaker government until a new administration is formed after the election. Reporting by Charlotte Van Campenhout and Bart Meijer; Editing by Alison Williams, Devika Syamnath nd Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: de, Mark Rutte, Rutte, Sigrid Kaag, Wopke Hoekstra, Charlotte Van Campenhout, Bart Meijer, Alison Williams, Devika, Nick Macfie Organizations: REUTERS, Bruins, Thomson Locations: The Hague, Netherlands, AMSTERDAM

☆ Inflation is 'history' for the U.S, says veteran economist Steve Hanke
▼ + stars: | 2023-07-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

watch nowThe U.S. no longer has an inflation problem, according to veteran economist Steve Hanke. "Money supply changes cause changes in the price index and inflation." The core consumer price index, which strips out volatile food and energy prices, rose 4.8% from a year ago and 0.2% month-on-month. "When inflation was going and roaring, the producer price index roared up first and then the consumer price index roared up. Steve Hanke Professor, Johns Hopkins University

Persons: Steve Hanke, CNBC's, Hanke, Leonardo Munoz Organizations: Johns Hopkins University, Corbis, Getty, Federal Reserve, Traders, Johns Hopkins Locations: U.S, United States, New York City

☆ America's inflation headache is gone, top economist Steve Hanke says. Paul Krugman and Mohamed El-Erian aren't so sure.
▼ + stars: | 2023-07-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

US inflation fell to a two-year low of 3% in June, dividing experts on whether the threat is over. Top economist Steve Hanke said the headache is gone and the Fed has things under control. Paul Krugman was less convinced, while Mohamed El-Erian noted a recession could still hit. Even if inflation is on the retreat, interest rates may need to remain high to prevent a resurgence, Krugman continued. El-Erian's comment raises the prospect that inflation could rear its head again, forcing the Fed to keep hiking rates and trigger a recession.

Persons: Steve Hanke, Paul Krugman, Mohamed El, Erian, stoked, aren't, Johns Hopkins, Ronald Reagan, Hanke, Krugman Organizations: Service, Reserve, CNBC, Princeton, MIT, Phillips, Fed Locations: Wall, Silicon

☆ Economist Steve Hanke says the 'inflation story is history' for the U.S.
▼ + stars: | 2023-07-13 | 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 EmailEconomist Steve Hanke says the 'inflation story is history' for the U.S.Steve Hanke, professor of applied economics at Johns Hopkins University, says "one reason for that is the fact that the money supply has been contracting on a year-over-year basis by 4% in the United States."

Persons: Steve Hanke Organizations: U.S, Johns Hopkins University Locations: United States

☆ 2-year Treasury yield continues to slide after cool June CPI figure
▼ + stars: | 2023-07-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were mostly lower on Thursday after June's inflation print came in cooler than expected , reducing the likelihood of more aggressive interest rate hikes from the Federal Reserve . The yield on the benchmark 10-year Treasury note slid 2 basis points to 3.8417% while the yield on the 2-year fell more than 5 basis points to 4.6872%, and the 5-year yield dropped more than 4 basis points to 4.0277%. At the longer end of the curve, the yield on the 30-year Treasury bond was fractionally higher at 3.9529%. The results could heavily influence the trajectory of the Fed's monetary policy decisions and signal the road ahead for inflation. Auctions will be held Thursday for $70 billion of 4-week Treasury bills and $60 billion of 8-week bills, along with $18 billion of 30-year bonds.

Persons: Steve Hanke, CNBC's Organizations: Treasury, Federal Reserve Locations: United States

☆ Pokemon Go maker Niantic is laying off 230 employees
▼ + stars: | 2023-06-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

New York CNN —Niantic, the creator of hit mobile game Pokemon Go, announced it is laying off 230 employees and reorganizing its business as it grapples with new macroeconomic uncertainty. In a letter to staff announcing the job cuts, Niantic CEO John Hanke said the company is taking other significant actions as well: shuttering its Los Angeles studio, sunsetting its NBA All-World game and halting production on Marvel: World of Heroes. The privately held company’s breakout hit, Pokemon Go, was among the first mobile games to embrace augmented reality when it launched in 2016. “In the wake of the revenue surge we saw during Covid, we grew our headcount and related expenses in order to pursue growth more aggressively, expanding existing game teams, our AR platform work, new game projects and roles that support our products and our employees,” Hanke wrote. Eventually, however, “our revenue returned to pre-Covid levels and new projects in games and platform have not delivered revenues commensurate with those investments,” he added.

Persons: New York CNN — Niantic, John Hanke, sunsetting, Hanke, ” Hanke, “ Organizations: New, New York CNN, NBA, Marvel, Layoffs.fyi Locations: New York, Los Angeles

☆ Pokemon Go maker Niantic lays off 230 employees, cancels games
▼ + stars: | 2023-06-29 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Pokemon Go players are seen in search of Pokemon and other in-game items in the Pasadena Playhouse District. Niantic, a mobile games developer based in San Francisco, announced Thursday that it would lay off 230 employees as part of a reorganization. It will also shutter a Los Angeles-based studio, where most of the affected employees are based. The move highlights how the mobile games industry has shifted in the years since Niantic landed its first major hit, Pokemon Go, in 2016. Overall, App Store spending on games declined 5% in 2020 to $110 billion, according to an estimate from Data.ai, a research firm.

Persons: John Hanke, Niantic, Hanke, Pokémon Organizations: Pasadena Playhouse, Marvel, Apple, Google, Meta, Quest Locations: Pasadena, San Francisco, Angeles, Silicon

☆ Steve Hanke says Turkey's central bank still has a lot of work to do, 'to put it mildly'
▼ + stars: | 2023-06-23 | 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 EmailSteve Hanke says Turkey's central bank still has a lot of work to do, 'to put it mildly'Steve Hanke, professor of applied economics at Johns Hopkins University, says the Turkish central bank's decision to hike interest rates by 650 basis points to 15% is "behind the curve."

Persons: Steve Hanke Organizations: Johns Hopkins University Locations: Turkish

☆ Turkish lira sinks to fresh lows following the central bank's interest rate hike
▼ + stars: | 2023-06-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Turkey's Taksim Square, with the figure of Kemal Ataturk, the first president, and the Turkish flag in the background. The Turkish lira sank to new record lows after Turkey's central bank raised the country's benchmark interest rate by 650 basis points in a dramatic monetary policy reversal. The central bank lifted its key interest rate by almost double, from 8.5% to 15% Thursday, marking the country's first hike since March 2021. The lira — which has been extending its plunge since President Recep Tayyip Erdogan's reelection — was last trading at 24.97 against the greenback. Newly appointed Governor Hafize Gaye Erkan hinted at more hikes until the inflation situation in the country improves.

Persons: Turkey's, Kemal Ataturk, Recep Tayyip Erdogan's, —, Steve Hanke, Hafize Gaye Erkan, Erkan Organizations: Turkish, Johns Hopkins University

☆ As Turkey heads to the polls, currency traders are bracing for absolute chaos
▼ + stars: | 2023-05-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Turkey is expected to head to the polls on Sunday. In the event of a victory by Erdogan, it's "highly likely the Turkish lira collapses within months," the founder of advisory firm Cribstone Strategic Macro Mike Harris told CNBC. "Ultimately the lack of confidence in investment will mean that the Turkish Lira will probably be among the worst performing currencies in the world for some time," he said. Turkey's monetary policy prioritizes the pursuit of growth and export competition rather than assuaging inflation. Erdogan endorses the unconventional view that raising interest rates increases inflation, rather than taming it.

☆ Egypt's pound is among the worst performing currencies in 2023. And it's expected to plummet further
▼ + stars: | 2023-04-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

A photo of one hundred Egyptian pound, one hundred U.S. dollars against the pyramids of Giza in Egypt on January 17, 2023. Fadel Dawod | Getty ImagesThe Egyptian pound has plunged almost 20% against the greenback since the start of the year — with some analysts predicting that the currency may still have room to plummet further. Egypt's pound currently ranks as the sixth worst performing currency since Jan. 1, extending a decline that saw it lose more than half its value during 2022. Egypt's embattled economyHowever, the economic woes plaguing the Middle East's most populous country means its pound still has a way to plummet, according to the experts. He expects Egypt's inflation to peak at around 36% in the third quarter, if there are no more devaluations.

☆ Investors 'are pretty afraid right now,' financial psychologist says. These 2 steps can help
▼ + stars: | 2023-03-31 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

watch nowWith high inflation, the threat of a recession and ongoing market volatility, we're in a period of high financial uncertainty. Understandably, many investors "are pretty afraid right now," said Brad Klontz, a psychologist and certified financial planner. And when we're stressed, our frame of reference tends to become short, said Klontz, who is also a member of CNBC's Financial Advisor Council. If you're investing for retirement, you may not need that money for decades, and so the answer is no. If market volatility is causing you a lot of stress, you may need to make adjustments.

☆ Sri Lanka needs institutional changes for long-term debt sustainability, says professor
▼ + stars: | 2023-03-10 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

Buddhika Weerasinghe | Bloomberg | Getty ImagesSri Lanka needs institutional reforms in order to achieve long-term debt sustainability, said Steve Hanke, who played a key role in establishing new currency regimes in emerging markets like Argentina and Montenegro. "In fact, most of the personalities involved in Sri Lanka at the high level are exactly the same as they've been for years. In September, the IMF outlined a series of steps that it wanted Sri Lanka's government to implement prior to loan approval, which included major tax reforms. "Debt relief from Sri Lanka's creditors and additional financing from multilateral partners will be required to help ensure debt sustainability and close financing gaps," the fund said at the time. "The Secretary welcomed Sri Lanka's commitments to transparency and comparable treatment for all bilateral official and private creditors."

☆ Sri Lanka crisis: None of these IMF programs work, says Steve Hanke
▼ + stars: | 2023-03-09 | 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 EmailSri Lanka crisis: None of these IMF programs work, says Steve HankeSteve Hanke, professor of applied economics at Johns Hopkins University, says there's temporary relief but "tremendous recidivism" in the long run.

☆ Steve Hanke says the U.S. Fed is too late in pivoting away from interest rate hikes
▼ + stars: | 2023-01-03 | 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 EmailSteve Hanke says the U.S. Fed is too late in pivoting away from interest rate hikesSteve Hanke of Johns Hopkins University says "the central banks and Wall Street have been systematically wrong ever since 2020" about inflation.

☆ These currencies have tanked this year — and one is down over 75% against the dollar
▼ + stars: | 2022-11-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

The cedi hit a fresh record low against the dollar on Wednesday last week, at one stage hitting the 14.24 mark before recovering slightly. In second place is the Cuban peso, which is down 56.36% against the dollar, behind only the Zimbabwean dollar, which has lost a staggering 76.74% of its value against the dollar since January. A man holds Zimbabwean Dollar Bond Notes Dan Kitwood | Getty Images News | Getty ImagesHanke said last week that Zimbabwe's "economic death spiral just keeps spinning." Similar to Ghana, authorities in Zimbabwe have attempted to support the local currency and fight inflation by cracking down on Zimbabwean dollar payments. EgyptThe Egyptian pound last week slumped to a fresh low against the dollar, sliding to 24.42, making its way onto Hanke's list of the top 10 worst-performing currencies of 2022.watch now

☆ German officials reportedly believe the crucial Nord Stream natural-gas pipelines connecting Russia to Europe were attacked near a Danish island
▼ + stars: | 2022-09-27 | by ( Kate Duffy | ) www.businessinsider.com time to read: +4 min

German officials reportedly believe the Nord Stream Russia-Europe natural-gas pipelines were attacked. Later Tuesday, the Kremlin said it couldn't rule out that damage to the Nord Stream pipelines was caused by sabotage. The Nord Stream 1 and Nord Stream 2 pipeline systems are the largest for sending natural-gas from Russia to Europe. The Danish Energy Agency said Monday it had discovered a leak in the Nord Stream 2 system near Bonhomme, a Danish island in the Baltic Sea. The Swedish Maritime Authority said leaks had been detected in both Nord Steam 1 and Nord Stream 2 near Bornholm.

☆ Steve Hanke says the chance of a U.S. recession just shot up to 80%
▼ + stars: | 2022-09-23 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

watch nowThere's an 80% chance of the U.S. falling into a recession — much higher than previously predicted, according to Steve Hanke, a professor of applied economics at Johns Hopkins University. Maybe even higher than 80%," Hanke told CNBC's "Street Signs Asia" on Friday. They're looking at everything under the sun, but the money supply," Hanke said. There's an 80% chance of the U.S. falling into a recession — much higher than previously predicted, according to Steve Hanke, a professor of applied economics at Johns Hopkins University. Now the growth of M2 money supply is slowing too quickly and that could send the economy into a recession, Hanke warned.

☆ Professor: Fed's been searching for inflation causes in wrong places
▼ + stars: | 2022-09-23 | 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 EmailSteve Hanke says the Fed has been searching for the causes of inflation 'in all the wrong places'Steve Hanke, professor of applied economics at Johns Hopkins University, says the U.S. Federal Reserve has been "looking at everything under the sun but the money supply."

Search resuls for: "Hanke"

19 mentions found