DIRS.INFO The most relevant business & tech news

☆ Fed raises interest rates, leaves door open to another increase - Reuters News
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +9 min

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase. The Fed raised (the Fed funds target rate) by a quarter point and the vote was unanimous, and the move puts rates at a 22-year high." "We think recent data is consistent with the US policy rate peaking in July, as core CPI inflation slowed sharply in June. "Fed Chair Powell is going to suggest that for the time being that they need to assess more information for inflation. "Markets are for the most part becoming more confident the Fed won't have to raise rates in September.

Persons: GENNADIY GOLDBERG, J Powell, they've, They're, Powell, we've, ELLEN HAZEN, ” MICHAEL BROWN, JACK ABLIN, BRIAN JACOBSEN, MENOMONEE, ” PETER CARDILLO, Jackson, GURPREET GILL, GOLDMAN, QUINCY KROSBY, ” EDWARD MOYA, We'll, we'll Organizations: YORK, Federal Reserve, U.S, Treasury, Fed, Dow, Global Finance, Markets, Thomson Locations: U.S, WELLESLEY , MASSACHUSETTS, PALM BEACH , FLORIDA, WISCONSIN, GOLDMAN SACHS, CHARLOTTE, NORTH CAROLINA

☆ Suddenly, There Is Money in Women’s Golf
▼ + stars: | 2023-07-15 | by ( Paul Sullivan | More About Paul Sullivan | ) www.nytimes.com time to read: +1 min

player Allisen Corpuz tapped in her final putt on the 18th hole at Pebble Beach Golf Links this month, she won the United States Women’s Open with a memorable final round, overtaking the leader and holding off a surging challenger in Charley Hull. Corpuz also cashed a $2 million first-place check, which was more than double what Annika Sorenstam won for all three of her U.S. Women’s Open victories combined. Despite losing ProMedica, the health care company, as presenting sponsor for the Open, the United States Golf Association increased the total prize purse by $1 million to $11 million this year. It’s part of a broader move in women’s professional golf to increase sponsorship for tournaments as well as for individual golfers. Over the past few years, purses have risen at tournaments, new sponsors have sought out golfers and even players who are not at the top of their careers have reaped the benefits.

Persons: Allisen Corpuz, Charley Hull, Corpuz, Annika Sorenstam Organizations: United States, Women’s, United States Golf Association

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

KARACHI, June 14 (Reuters) - Shell Pakistan (SHEL.PSX) said on Wednesday that its parent company, Shell (SHEL.L) unit Shell Petroleum Company, would be exiting Pakistan with the sale of its 77% shareholding in the in the local business. The move came after Shell Pakistan (SPL) suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables, and as the country faces a financial crisis and economic slowdown. "To support its intention to high-grade and simplify its portfolio, Shell Petroleum Company Ltd... has initiated a sales process to sell its 77.42% shareholding in Shell Pakistan Ltd," a spokesperson for Shell Pakistan said in an email to Reuters. That includes "all of SPL’s Downstream businesses and SPL’s 26% ownership of Pak-Arab Pipeline Company Ltd (PAPCO)," the spokesperson added. REUTERS/Morteza Nikoubazl/File PhotoIt said in the notice that Shell Petroleum Company had notified its board of directors of its intention to sell the holding in a meeting on June 14.

Persons: Morteza, Shell, Wael Sawan, Ariba Shahid, Sakshi Dayal, Gibran Peshimam, David Evans, Jan Harvey, Kirsten Donovan Organizations: Shell Pakistan, Shell, Shell Petroleum Company, Shell Petroleum Company Ltd, Shell Pakistan Ltd, Reuters, Arab Pipeline Company, Pakistan Stock Exchange, REUTERS, Thomson Locations: KARACHI, Pakistan, Nowshera, Pakistan's, Khyber, Pakhtunkhwa Province, Bukom, Jurong, Singapore

☆ Opinion | The Duggar Family and Reality TV’s Exploitation of Kids
▼ + stars: | 2023-05-31 | by ( Jessica Grose | ) www.nytimes.com time to read: +2 min

While it’s legal to put kids in reality shows, in many cases, it’s hard to see how it’s ethical. In the documentary, Jill says the Duggar children were never adequately compensated for the loss of their privacy. “That’s how this whole system is set up, for the men to have just total, ultimate authority over their family,” she said. “Yes,” Jill says in the film, “we were taken advantage of.”Jim Bob ultimately offered Jill and Derick a lump sum, they say, but there were strings attached. “You had to sign another deal with my dad — his production company,” Jill said, for a term that “would be like forever.

Persons: Josh, Jill Duggar Dillard, Jim Bob, Michelle, Jill, Derick Dillard, Julia Willoughby Nason, I.B.L.P.ers, “, ”, ” Jill, ” Jim Bob

☆ What Your Therapist Doesn't Tell You
▼ + stars: | 2023-05-17 | by ( Amy X. Wang | Illustrations Liana Finck | ) www.nytimes.com time to read: +8 min

What Your Therapist Doesn’t Tell You A dozen counselors on what it’s really like to sit in the other armchair. “ ‘I need to pee so bad.’ Clients don’t realize that we have five minutes between sessions and sometimes making it to the bathroom is not possible.” — Jessa White, L.M.H.C.A. You can’t do psychotherapy if a person doesn’t feel safe — there’s no way that’s going to happen. But it’s frustrating too, because as a therapist, you feel you can’t really offer what you signed up for.” — Gabriela Sehinkman, Ph.D., L.I.S.W.-S. To me, therapy is very much like dating, except, you know, obviously you don’t really want to date the person.” — Thien Pham, L.M.F.T.

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Nikola tumbles to record low on $100 million stock sale
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Shares of Nikola Corp (NKLA.O) hit a record low on Friday after the electric-truck maker said it plans to sell shares and raise $100 million, amid high production costs. Nikola said late Thursday it will sell about 29.9 million shares in public offering and 59.4 million shares to hedge fund Antara Capital L.P., an existing holder of the company's convertible bonds. Nikola fell to $1.15 per share after offering shares to raise capital"Despite the $100 million cash injection, management still has a lot of work to do to balance cash burn against its existing cash," said BTIG analyst Gregory Lewis, and downgraded the stock to "neutral" from "buy". The company said it has $123 million in cash and $85 million in restricted cash as of March 28. Last year, the company had said it might sell shares to raise up to $400 million.

☆ When Every Win Means Water, Water Everywhere
▼ + stars: | 2023-03-31 | by ( Andrew Keh | ) www.nytimes.com time to read: +8 min

When Every Win Means Water EverywherePicture yourself at work. Teleport this scene into a sports locker room, though, and suddenly the dousing is perfectly in bounds. But like many coaches, he eventually accepted his fate, removing his shoes before entering the locker room. The athletes were unwinding in the locker room when Coach Mark Few and his assistants charged in and began sousing them with ice-cold water. Isaiah Wong, the team’s star shooting guard, said they would only consider spraying water now if they won the championship.

TikTok was the top downloaded app in the United States in 2021 and 2022, according to data from analytics firm Sensor Tower. And legacy news organizations like the 176-year-old Associated Press have recently joined TikTok to reach new audiences. Goodwin told CNN that more than 90% of her orders currently come from people who discover her business through TikTok. “If it were to get banned, I would see business plummeting,” Goodwin told CNN. (Laurie Gomez)At a time when major tech giants including Meta and Twitter are slashing staff, TikTok is still hiring American engineers.

☆ WeWork reaches deals to cut debt, extend maturities
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Under the deals announced Friday, key investor SoftBank Group Corp's (9984.T) $1.0 billion unsecured notes would be converted to equity. The Japanese company held a stake of about 46% in WeWork before the restructuring was announced, as per Refinitiv data. About $1.9 billion of pro-forma debt will now mature in 2027, WeWork said, adding that it would have less than $2.0 billion in net debt once the deal closes. WeWork, which went public in 2021 after a two-year struggle, is yet to post a quarterly profit. PJT Partners LP advised WeWork on the debt restructuring, while Houlihan Lokey advised SoftBank.

☆ Fed opts for small rate hikes, expects to deliver 'ongoing increases'
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +4 min

The decision lifted the benchmark overnight interest rate to a range between 4.50% and 4.75%, a move widely anticipated by investors and flagged by U.S. central bankers ahead of this week's two-day policy session. MARKET REACTION:STOCKS: U.S. stocks fell after the Fed statement, but the Nasdaq recovered, last flat on the day. RYAN DETRICK, CHIEF MARKET STRATEGIST, CARSON GROUP, OMAHA"The Fed threw no curve balls, as they did what was widely expected. The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting." How close are we now with ending the rate hike cycle, when it’s clear employment costs are slowing?"

☆ Bloomberg has no interest in acquiring Dow Jones or the Washington Post, spokesman says
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: 1 min

Dec 25 (Reuters) - Bloomberg L.P. confirmed on Sunday that it has no interest in acquiring either Dow Jones or the Washington Post, a Bloomberg L.P. spokesman said in a tweet. loading"There have been no conversations with anyone or either organization about an acquisition," spokesman Ty Trippet said in the tweet, which was retweeted by Michael Bloomberg. News website Axios reported on Friday the billionaire owner of Bloomberg L.P. was interested in acquiring either WSJ parent Dow Jones from Rupert Murdoch's News Corp (NWSA.O), or the Washington Post from Amazon.com's (AMZN.O) Jeff Bezos, citing a source familiar with Bloomberg's thinking. Reporting by Lavanya Ahire in Bengaluru; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Facebook parent Meta agrees to pay $725 million to settle Cambridge Analytica suit
▼ + stars: | 2022-12-23 | by ( Arjun Kharpal | Arjun Kharpal Is A News Assistant For Cnbc In London. | ) www.nbcnews.com time to read: +3 min

Facebook parent Meta has agreed to pay $725 million to settle a class action lawsuit that claimed the social media giant gave third parties access to user data without their consent. The class action lawsuit was prompted in 2018 after Facebook disclosed that the information of 87 million users was improperly shared with Cambridge Analytica, a consultancy firm linked to former President Donald Trump’s 2016 election campaign. A scandal that prompted global outrageThe Cambridge Analytica scandal prompted global outrage and a flurry of regulators worldwide to scrutinize Facebook’s data practices. Cambridge Analytica, which shut down after the allegations in 2018, was controversial because the data it harvested from Facebook was used to inform political campaigns. Since the scandal, Facebook changed its name to Meta to reflect its growing ambitions to become a leader in the metaverse, a term used to refer to virtual worlds.

☆ Media mogul Michael Bloomberg looking to buy Dow Jones or Washington Post- Axios
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

Dec 23 (Reuters) - Billionaire Michael Bloomberg, the owner of Bloomberg L.P., is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, news website Axios reported on Friday, citing an unnamed source familiar with the matter. According to the Axios report, Bloomberg sees News Corp-owned (NWSA.O) Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Amazon.com Inc (AMZN.O) founder Jeff Bezos was interested in selling. Bloomberg L.P., the Washington Post and Dow Jones did not immediately respond to Reuters' requests for comment. In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp (FOXA.O), nearly a decade after the companies split. Reuters competes with Bloomberg News, a unit of Bloomberg L.P., as a provider of financial news.

☆ Media mogul Bloomberg eyes Dow Jones or Washington Post acquisition, no talks yet
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +3 min

According to the Axios report, Bloomberg sees News Corp-owned (NWSA.O) Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Amazon.com Inc (AMZN.O) founder Jeff Bezos was interested in selling. Bloomberg L.P., the Washington Post and Dow Jones did not immediately respond to Reuters' requests for comment. "The transaction would be challenged only if the resulting choices leave insufficient competition in the market for either users or suppliers. In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp (FOXA.O), nearly a decade after the companies split. Reuters competes with Bloomberg News, a unit of Bloomberg L.P., as a provider of financial news.

A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said it is not for sale. "A Bloomberg acquisition of the (Post) is not necessarily just a business decision. According to Axios, Bloomberg sees Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Bezos was interested in selling. Dow Jones did not immediately respond to Reuters' request for comment. Reuters competes with Dow Jones and Bloomberg News, a unit of Bloomberg L.P., a provider of financial news.

☆ Facebook parent Meta agrees to pay $725 million to settle privacy lawsuit
▼ + stars: | 2022-12-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Facebook parent Meta has agreed to pay $725 million to settle a class action lawsuit that claimed the social media giant gave third parties access to user data without their consent. The class action lawsuit was prompted in 2018 after Facebook disclosed that the information of 87 million users was improperly shared with Cambridge Analytica, a consultancy firm linked to former President Donald Trump's 2016 election campaign. Plaintiffs alleged that Facebook "granted numerous third parties access to their Facebook content and information without their consent, and that Facebook failed to adequately monitor the third parties' access to, and use of, that information," according to the law firm behind the lawsuit. Judges overseeing the case in the Northern District of California will now have to approve the settlement. Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program," a Meta spokesperson told CNBC.

☆ TikTok might be too big to ban, no matter what lawmakers say
▼ + stars: | 2022-12-16 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

“I would lose most of my sales.”For much of the past two years, talk of an outright TikTok ban seemed to recede. But suddenly, the future of TikTok in the United States appears more uncertain than at any point since July 2020. Two years later, she said a TikTok ban would cause her to "lose most of my sales." The tremendous reach of TikTok may only make it harder to ban the service outright, some national security experts say. Hootie Hurley, 23, a Los Angeles-based full-time creator with more than 1.3 million followers on TikTok, told CNN that he now makes most of his income through his TikTok following.

☆ Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( Reuters Staff | ) www.reuters.com time to read: +8 min

STORY: STATEMENT TEXT:MARKET REACTION:STOCKS: The S&P 500 turned sharply lower then steadied down 0.11%BONDS: Benchmark 10-year note yields rose then backed off to 3.4847%. CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They’re reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. You know, the biggest thing that is holding the Fed back right now are the jobs numbers. The most dovish participants is looking for an extra 50 bps of hikes.

☆ Instant view: Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +8 min

CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They're reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. "But the Fed is out there saying that 5.1% is still on the cards … and that rate hikes will continue." BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“The most interesting part of the releases were in the Summary of Economic Projections. And they’re holding it there longer than markets expected.”“In addition, they’re downgrading GDP estimates for this year, and in particular, for next year.

Starting in March, people whose sole underlying condition is mental illness will be able to access assisted death. Some individuals have come forward in local news reports saying they are seeking assisted death because they lack appropriate housing or other supports. The federal agency serving veterans says at least one employee suggested assisted death unprompted to at least four veterans between 2019 and 2022. It is investigating another such allegation, a spokesperson said in an email, adding advice on assisted death is not a department service. L.P., who suffers from anorexia and asked to be identified by her initials, hopes to access assisted death when it is available.

☆ Ivory Coast completes second shipping container terminal
▼ + stars: | 2022-11-25 | by ( Loucoumane Coulibaly | ) www.reuters.com time to read: +1 min

ABIDJAN, Nov 25 (Reuters) - Ivory Coast has completed construction of a second container terminal at its main port in Abidjan, paving the way for it to become a regional shipping hub, officials said late on Friday. The new container terminal will be able to receive large ships from Asia, Europe and America that previously had to land goods in South Africa, transferring them to smaller ships to reach West Africa. "We are no longer a second port. We are becoming a hub," said Andre N'Doli, technical director of the terminal, called Cote d'Ivoire Terminal (CIT). The terminal is expected to allow Abidjan to increase container traffic to 3 million TEU containers from 1.2 million TEU containers per year, port authorities said.

☆ SEC charges Goldman Sachs Asset Management with not following ESG investments policies
▼ + stars: | 2022-11-22 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 22 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday charged Goldman Sachs Asset Management (GS.N) with failing to follow its policies and procedures involving environmental, socially oriented and other investments, and fined the company $4 million. The charges were specifically over "policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance (ESG) investments," the regulatory agency said in a statement. Without admitting or denying the regulator's findings, Goldman Sachs Asset Management agreed to pay the $4 million penalty, the SEC added. "Goldman Sachs Asset Management, L.P. is pleased to have resolved this matter, which addressed historical policies and procedures related to three of the Goldman Sachs Asset Management Fundamental Equity group's investment portfolios," the company said in a separate statement. The SEC found that, from April 2017 until February 2020, the company had several policy and procedure failures involving the ESG research its investment teams used to select and monitor securities.

Search resuls for: "L.P"

25 mentions found