DIRS.INFO The most relevant business & tech news

July 13 (Reuters) - The U.S. Food and Drug Administration on Thursday approved the first over-the-counter contraceptive pill, paving the way for millions of women in the country to purchase birth control without prescription. Perrigo will next week share its pricing plan for the pill, which will be available in stores and online in the first quarter of next year. Women should take a progestin-only pill within the same three hours every day to avoid pregnancy. The National Catholic Bioethics Center and other groups have opposed making Opill available without prescription, saying physicians should be involved in health decisions, especially for teenagers, along with parental supervision, to avoid harm. Perrigo gained the daily-use pill first through its $2.13 billion acquisition of Paris-based HRA Pharma in 2021.

Persons: Roe, Wade, Xavier Becerra, Opill, Jeffrey Singer, Perrigo, Manas Mishra, Sriparna Roy, Arun Koyyur Organizations: U.S . Food, Drug Administration, Perrigo, Human Services, Cato Institute, FDA, Catholic Bioethics Center, HRA Pharma, Thomson Locations: U.S, Paris, Bengaluru

☆ Bed Bath & Beyond went bankrupt and sold its brand. That hasn't stopped meme-stock fans from trading over $200 million of its shares in recent weeks.
▼ + stars: | 2023-07-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond went bankrupt and sold its brand, but people are still placing bets on its stock. Investors have traded over $200 million worth of its likely worthless shares since early May. They've traded over $200 million worth of the homewares retailer's shares since early May, Yahoo Finance data shows, even though they're most likely worthless. Investors have traded an average of 24 million shares a day since then, per Yahoo Finance. Moreover, Overstock.com recently purchased BBBY's intellectual property for $22 million, and plans to rebrand itself under the Bed Bath & Beyond name.

Persons: —, They've, they're, Anthony Chukumba, that's, Overstock.com, Chukumba Organizations: Investors, Financial Times, Service, Yahoo Finance, New York Stock Exchange, Tesla, GameStop, Bed

☆ Crypto is trying to fix its custody problem as institutions pour in and regulatory uncertainty lingers
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

And the highly regulated institutions wanting to give their clients access to bitcoin are still a little skeptical that the crypto industry has learned its lessons. Another issue is there aren't enough dedicated custodians in the crypto industry. The Go Network acts as a platform on which partner firms can execute and settle trades between crypto assets and fiat currencies. BitGo handles custody of crypto assets while dollars are spread across a network of banks for safekeeping. "[The crypto industry] was operating on the edge, saying, it's risky, but we're making a lot of money.

Persons: Crypto, Bitcoin, Roger Bayston, Franklin Templeton's, FTX, Schwab, Gustavo Schwenkler, It's, David Wells, haven't, it's, BitGo, Mike Belshe, CNBC's, Wells, Belshe, BlackRock's Joseph Chalom, Franklin Templeton's Bayston Organizations: Crypto, New York City, Arrows, Terraform, Securities and Exchange, Fidelity, Citadel, EDX, Valley Bank, First, Leavey School of Business, Santa Clara University, Nasdaq, Bank of New York Mellon, CNBC, Go, Markets, Schwab, BlackRock, Securities, Exchange, Coinbase Locations: Coinbase State, New York, First Republic, PacWest, Wells

☆ 28 Things Every Student Needs to Pack for College
▼ + stars: | 2023-06-27 | by ( Lisa Lombardi | ) www.wsj.com time to read: +12 min

One of these plug-in air fresheners will keep a dorm room smelling good, and each scent refill lasts for over a month. Aromatherapy diffuserTakeout meals from the dining hall and dirty laundry sure can stink up a tiny dorm room. But with an aromatherapy diffuser, you can keep a dorm room smelling great and exude calm vibes. Bed risers with USB portsHold N' Storage Bed Risers with Power Outlet and USB Ports $48 at AmazonTo add under bed storage, you can’t beat bed risers, says Saltman. These Hold N’ Storage bed risers elevate a bed by 7.25 inches, providing room for extra bins and luggage.

Persons: Lisa Lombardi, —, ”, Barbara Reich, “, Lauren Saltman, Will, Jamie Vacca, Decker, expanders Max, Covid, Vacca’s, Covid —, they’re, it’s, ” Vacca, Command Hooks, Tuck, Clay White, Bellamy Richardson Organizations: Facebook, YouTube, University of Wisconsin – Madison, Walmart, Apple Cider, Amazon, University of Wisconsin, Emory University, Washington University, “, Command, Target, tote Locations: New York City, Newfields, Florida, Alaska, Ikat

A net 1,400 lots of short positions were covered by the time the market was suspended at 08:15. Xiang Guangda, the charismatic head of China's Tsingshan Holding Group, has attracted much media attention for being the big nickel short. The existence of at least once big nickel short wasn't exactly a secret in the market. LME nickel crisis had turned into potential LME clearing house crisis with Chamberlain having to juggle both parts of the meltdown while also being a nickel market specialist. The handful that remained, as one participant later recalled, knew nothing whatsoever about what was going on in the nickel market so decided to call everyone else back into the room.

Persons: Elliott, Street, Matthew Chamberlain, Chamberlain, Jane Street, Oliver Wyman's, Xiang Guangda, wasn't, Oliver Wyman, John Maynard Keynes, Xiang, doesn't, David Evans Organizations: London, Royal, of Justice, Hong Kong Exchanges, HK, Elliott Associates, Jane, Global, Tsingshan Holding, SEE, Bloomberg, Thomson, Reuters Locations: U.S, Ukraine

☆ Analysis: Forex derivatives nudged out into the open as regulations increase costs
▼ + stars: | 2023-06-20 | by ( Laura Matthews | ) www.reuters.com time to read: +6 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, June 20 (Reuters) - Foreign-exchange investors are moving more of their over-the-counter (OTC) derivatives trades to lookalike products on exchanges to avoid higher costs due to recent global regulations, helping inject transparency into a multitrillion-dollar market that is largely hidden from the public eye. The gradual behavioral change in FX derivatives trading is being caused by increasing margin and collateral costs, said Joe Midmore, chief commercial officer at OpenGamma, a derivatives analytics firm. OTC derivatives are privately negotiated contracts while cleared derivatives, though bilaterally negotiated, are booked with a clearinghouse such as a listed exchange. "They will also incur the operational, legal and custody costs of setting up margin facilities as well as the capital costs of posting margin," Houston said. "There is inherently risk involved in lots of people transacting derivatives with each other," said Riddle.

Persons: Dado Ruvic, Ben Feuer, Joe Midmore, ”, Michael Riddle, Paul Houston, Houston, ForexClear, James Pearson, Tom Arnold, Joe Spiro, Peter Vassallo, Riddle, Laura Matthews, Shankar Ramakrishnan, Megan Davies, Matthew Lewis Organizations: REUTERS, Societe Generale, Banking Supervision, International Organization of Securities Commissions, CME, CME Group, FX, Reuters Graphics British, Financial, ForexClear, BNP, Management, Thomson Locations: Saudi, New York, Hazeltree

☆ The Grayscale Bitcoin Trust is getting a boost from BlackRock. Here's what you need to know
▼ + stars: | 2023-06-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The Grayscale Bitcoin Trust (GBTC) , which has long traded at a steep discount to its net asset value, rose 12.8% on Friday after BlackRock filed to launch a spot bitcoin ETF. GBTC 5D mountain The Grayscale Bitcoin Trust has rallied more than bitcoin in recent days. The proposed BlackRock fund would also use Coinbase as a custodian for cryptocurrency, even though Coinbase was recently sued by the SEC . "If BlackRock is getting an ETF, I would want to own the BlackRock ETF. Wilshire Phoenix's wShares has a pending registration filing for its own bitcoin trust, but that product is not an ETF.

Persons: bitcoin, Bryan Armour, Armour, Coinbase, Gary Gensler, Pat Tschosik, Ned Davis, Tschosik, GBTC, William Cai, Cai Organizations: BlackRock, Securities, Exchange Commission, SEC, North America, Morningstar, Ned, Ned Davis Research, NDR, wouldn't, Wilshire Locations: BlackRock, bitcoin, Wilshire Phoenix, GBTC

Kraken vs. Coinbase: The Biggest DifferencesCompare Kraken and Coinbase KrakenCoinbase Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. These levels determine which account features you can access, as well as represent the amount of documentation you provide when setting up your Kraken account. Kraken Account FeaturesIf you're an institution or an advanced trader, there's no shortage of services at Kraken. The standard Coinbase account includes crypto trading, Coinbase Earn, Coinbase Card (a Coinbase debit card), wallet services, and more. Coinbase and Kraken are both great cryptocurrency exchanges with large cryptocurrency selections, account features, NFT beta marketplaces, and more.

Persons: Coinbase, Min, webinars —, Kraken, Roth IRAs, Coinbase Waller, you'll Organizations: US Securities and Exchange Commission, SEC, Chevron, Coinbase, Trade, Pro, OTC, Better, Bureau, Inc, New York State Department of Financial Services, New, DFS, iOS Locations: New York, Washington

☆ Binance.US pauses OTC trading, says deposits and withdrawals functioning as normal
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

June 7 (Reuters) - Crypto exchange Binance.US said on Wednesday it has decided to pause its over-the-counter trading portal, adding that deposits and withdrawals continue to function as normal. U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception". Reporting by Manya Saini in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance.US, Binance, Changpeng Zhao, Manya Saini, Shounak Dasgupta Organizations: Thomson Locations: U.S, Bengaluru

☆ Goldman Sachs: Cash in on the $7 trillion AI explosion by making these 15 trades now
▼ + stars: | 2023-06-01 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Artificial intelligence is rapidly gaining momentum this year as it gets more advanced. Here are 15 buy-rated stocks from Goldman Sachs that investors can get exposure to now. Once a niche technology, artificial intelligence (AI) has moved firmly into the mainstream in 2023 and become too big to ignore, according to Goldman Sachs. Goldman Sachs15 AI stocks to add exposure to nowInvestors who are interested in profiting from the AI wave should consider the 15 stocks that were highlighted in Phani's note that have a buy rating from Goldman Sachs and are either directly advancing AI or are indirectly enabling it. Below are the 15 stocks tied to AI that Goldman Sachs is bullish on right now.

Persons: Goldman Sachs, Phani Organizations: Nvidia, Microsoft, Google, Companies, Investors

☆ Crypto sees fifth consecutive week of outflows, with negative sentiment focused on bitcoin
▼ + stars: | 2023-05-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Crypto investment products are coming off their fifth consecutive week of outflows while trading volumes on trusted exchanges hit their lowest level since late 2020, according to CoinShares. Outflows in popular electronic trading products, mutual funds and OTC trusts referencing bitcoin , ether and other crypto assets totaled $32 million for the week ending May 19, CoinShares said in a weekly report Monday. "This was another down week for crypto and, interestingly, a week of divergence with upbeat equity markets," Bernstein analyst Gautam Chhugani said in a note Monday. The market saw $32.7 million in bitcoin outflows, followed by $1 million in ether. Any sign of dislocation in U.S. banks/the U.S. Dollar/the U.S. debt crisis could trigger crypto markets to catch a bid amidst the chaos."

☆ U.S. FDA advisers back OTC use of Perrigo's birth control pill
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - A U.S. Food and Drug Administration advisory panel on Wednesday voted in favor of using Perrigo Co's (PRGO.N) contraceptive without a prescription, paving the way for the country's first approval for an over-the-counter birth control pill. The panel remained positive on the effectiveness of the pill, not only in the general population of women but also in adolescent populations and those with limited literacy. Perrigo's Opill, currently approved for prescription use, would be the first OTC non-estrogen contraceptive pill in the United States if approved by the regulator. The FDA generally follows the advise of its experts, though it is not bound to do so. Reporting by Sriparna Roy and Nandhini Srinivasan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Central bank gold demand hits first-quarter record, investments surge on U.S. banking turmoil
▼ + stars: | 2023-05-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The process of crafting gold is seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Demand for gold among central banks notched a first-quarter record high in the three months to the end of March as overall global demand painted an otherwise "mixed picture," according to the World Gold Council. Total gold demand, however, was up 1% from the first quarter of 2022 thanks to a recovery in the OTC market. Louise Street, senior market analyst at the World Gold Council, told CNBC on Thursday that this was a continuation of trends that saw central bank gold buying soar to an 11-year high in 2022. The WGC expects demand among central banks to moderate this year after 2022's spike, though noted that where previous buying had been concentrated in developing markets, more developed financial centers were now increasing their demand.

☆ Exxon Mobil not quitting exploration in Brazil
▼ + stars: | 2023-05-01 | by ( Sabrina Valle | ) www.reuters.com time to read: +1 min

Companies Exxon Mobil Corp FollowHOUSTON, May 1 (Reuters) - Exxon Mobil Corp (XOM.N) is not giving up on oil exploration in Brazil, the company's country chief Alberto Ferrin said on Monday during the Offshore Technology Conference (OTC) in Houston. "I would say very crystal clear that Exxon Mobil is not quitting exploration in Brazil at all," Ferrin said, disputing a U.S. newspaper report published last month. Brazil's government, regulators and the company's exploration partners are aware it has no intentions of leaving. Exxon is searching for exploration opportunities such as the one it encountered in Guyana, where it has had an 89% success rate, Ferrin said. "Brazil offers those exploration success enablers that we look for globally, no doubt about that.

☆ As oil output peaks, US Gulf of Mexico makes room for carbon capture
▼ + stars: | 2023-05-01 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

Some companies, including Exxon Mobil Corp (XOM.N), have been dumping assets in the Gulf, the nation's primary offshore source of oil, and are instead targeting capturing and storing carbon dioxide and other greenhouse gases underground. The region, soon could became contested ground for oil, carbon sequestration and renewable energy, say analysts. The gain reflects a flurry of new platforms from Shell (SHEL.L), BP (BP.L), Chevron (CVX.N) and others, budgeted before the pandemic hit global demand and made companies reduce investments. Reuters GraphicsAt this week's Offshore Technology Conference (OTC), which annually attracts more than 50,000 people, nearly a quarter of the presentations will involve offshore wind, renewables, carbon capture and energy transition, say organizers. Oil development will still dominate the basin, but should coexist with CCS and renewables such as offshore wind and solar.

☆ Study reveals how treating hearing loss could impact dementia risk
▼ + stars: | 2023-04-13 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +5 min

CNN —Treating hearing loss could mean reducing the risk for dementia, according to a new study. Hearing loss may increase the risk for dementia, but using hearing aids lowered the risk so it’s similar to those without hearing loss, according to the study published Thursday in The Lancet. A 2020 Lancet commission on dementia prevention, intervention and care suggested hearing loss may be associated with around 8% of dementia cases, but this study found that the use of hearing aids reduced the risk to levels similar to people without hearing loss, the study said. “A recent study showed that only 15% of US adults with hearing loss use hearing aids,” De Sousa said. The Hearing Loss Association of America still supports multiple avenues for addressing hearing loss, Hamlin said.

☆ Meet the typical CVS shopper: a white, Gen X, college-educated city dweller earning a high income
▼ + stars: | 2023-04-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

CVS's average customer is a white, urban Gen Xer earning a high annual income. Numerator found that CVS's typical shopper is a white, urban Gen Xer who has a college education and an annual income of more than $80,000. In addition to OTC pain medication and cough remedies, the typical retail shopper often prefers to buy candies, chocolates, and bottled water. Just 1.6% of a CVS shopper's total dollars are spent at CVS, compared with 6.8% of their spending on Amazon. At other retailers, the CVS shopper buys more fresh garlic, hand sanitizer, bar soap, and non-dairy milk alternatives than the national average shopper.

☆ Bitcoin outlook: Crypto may be in a bull market now, but investors should still tread carefully
▼ + stars: | 2023-04-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

The case for a new crypto bull market has been slowly growing since the beginning of the year and gained more strength still in March. For Orsini, the new bull market in crypto began on Jan. 13, when bitcoin broke through its 200-day moving average. "But an enduring secular bull market will have clarity and regulation underpinning it." "When that framework gets introduced you're going to be closer to the beginning of a secular bull market." Less liquidity, bigger swings Bull market or not, investors agree it'll be no straight line up over the next few months.

☆ Global derivatives industry defends CDS after banking blow-ups
▼ + stars: | 2023-03-30 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

Credit default swaps (CDS) are derivatives that offer insurance against the risk of a bond issuer - such as a bank - not paying their creditors. European Union markets watchdog ESMA said on Thursday that it, together national regulators, had been "looking into the recent market movements, including in the CDS market". Clearing of individual bank or company CDS is also available at LCH’s CDSClear and ICE Clear Credit. Overall, the credit derivatives market is also far smaller than it was before the 2008 crisis. "The credit derivatives market continues to play a critical role, particularly during times of volatility," Malia said.

☆ US FDA approves first OTC opioid overdose reversal drug
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] A box of NARCAN nasal spray is photographed at an outpatient treatment center in Indiana, Pennsylvania, U.S. on August 9, 2017. The approval for OTC use of the naloxone-based nasal spray will help align the federal government's stance with states that have provisions to offer the drug without prescription at pharmacies. Drug-related overdose deaths in the United States rose about 15% year-over-year to more than 100,000 in 2021, as per official data. While the approval puts Emergent ahead in the OTC product race, analysts have said it is not likely to derive significant sales from the approval. Benchmark analyst Robert Wasserman said ahead of the approval that Narcan sales peaked in 2020 and have declined since.

☆ ECB's Enria says market nervousness is a concern
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, March 28 (Reuters) - Recent volatility in Deutsche Bank (DBKGn.DE) shares was concerning as it showed investors were on edge and could be spooked by moves in the small market for credit default swaps (CDS), European Central Bank supervisor Andrea Enria said on Tuesday. The German bank's shares tumbled last Friday as the cost of insuring its debt against the risk of default jumped to a more than four-year high, intensifying worries about the health of Europe's financial sector. Enria said the CDS market is relatively small and illiquid, but that a selloff there could have broader ramifications for the much larger share market. "What concerned me really was the amount of nervousness, disquiet that I perceived in the market and among investors," Enria told a conference in Frankfurt. Enria argued that central clearing for credit default swaps would improve transparency, reducing the risk of volatility.

☆ Explainer: What are credit default swaps and why are they causing trouble for Europe's banks?
▼ + stars: | 2023-03-28 | by ( Amanda Cooper | ) www.reuters.com time to read: +6 min

LONDON, March 28 (Reuters) - Turbulence in Europe's banks following the implosion of 167-year-old Credit Suisse (CSGN.S) and runs on regional banks in the U.S. has focused attention on the role played by credit default swaps in all the turmoil. The moves followed a surge in the cost of insuring Deutsche Bank's debt against default via credit default swaps (CDS) to a more than four-year high last week. Credit default swaps are derivatives that offer insurance against the risk of a bond issuer - such as a company, a bank or a sovereign government - not paying their creditors. The CDS market is worth around $3.8 trillion, according to the International Swaps and Derivatives Association. The CDS market is small relative to equities, foreign exchange or the global bond markets, where there are more than $120 trillion bonds outstanding.

☆ How this 26-year-old went from running bitcoin trading desks in Taco Bells to creating the largest crypto exchange in Africa
▼ + stars: | 2023-03-25 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +28 min

Yellow Card CEO Chris Maurice just before meeting with the Securities and Exchange Commission in Accra, Ghana. Chris MauriceFrom there, Yellow Card users can send or receive digital cash in eligible markets. Zoom In Icon Arrows pointing outwards Yellow Card CEO Chris Maurice in Accra, Ghana loading cash onto his Mobile Money account, MoMo. Yellow Card has facilitated $1.75 billion in transactions since launching in 2019 and has about 220 employees – mostly in Africa. A resident checks his phone outside a mobile money kiosk in the Kibera district of Nairobi, Kenya, on Monday, Aug. 1, 2022.

☆ An options strategy from Goldman to profit from Friday's jobs report
▼ + stars: | 2023-03-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The options for some major stocks appear oddly cheap ahead of a highly anticipated jobs report, according to Goldman Sachs. Straddles are derivatives that serve as a bet on volatility, regardless of direction. Shares of the Facebook parent have been on a tear in 2023, rising by more than 50% already. Outside of tech, Caesars Entertainment has already gained 28% year to date, and analysts see another 30% of upside, according to Refinitiv. Shares of Moderna have already moved 3% or more on 11 different trading days in 2023.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Arista, Costco, Joby, Netflix & more
▼ + stars: | 2023-03-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Northcoast upgrades Costco to buy from hold Northcoast said it sees more upside for the wholesale retailer. " Goldman Sachs initiates Arista Networks and Juniper as buy Goldman initiated several networking equipment stocks, noting they are attractively valued. Deutsche Bank downgrades Joby to sell from hold Deutsche said it sees too many risks for the aviation company. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its standing by shares of Walmart as the retail giant continues to sign up new members for its Walmart+. Loop reiterates Netflix as hold Loop said its survey checks show that password sharing charging is increasing revenue for Netflix.

Search resuls for: "OTC"

25 mentions found