DIRS.INFO The most relevant business & tech news

☆ Wells Fargo downgrades this athletic wear stock, cites 3 major headwinds
▼ + stars: | 2023-06-23 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Wells Fargo is taking a step back on Under Armour . The bank downgraded shares of the athletic clothing company to equal weight from overweight Friday. "We expect the NA wholesale channel to remain difficult at least through the end of '23, which will likely continue to be a drag on [revenue] growth," Gaetner said. "Retailers remain cautious with orders, as headwinds (inflationary pressures, lower gov't subsidies) continue to weigh on demand." Gaetner added that the North American wholesale market makes up more than half of Under Armour's revenue and expects a decline of 2.2% to revenue growth in 2024.

Persons: Wells, Will Gaetner, Gaetner, Stephanie Linnartz, Linnartz, Armour, — CNBC's Michael Bloom Organizations: UA, Armour, ahs Locations: American

☆ Human rights body finds Cuban gov't responsible in 2012 deaths of dissidents
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

HAVANA, June 13 (Reuters) - The Inter-American Commission on Human Rights has found the Cuban government responsible in the deaths of democracy activists Oswaldo Paya and Harold Cepero in a 2012 car accident, saying it had concluded that state agents were involved in the incident. The commission's report, released on Monday, also said the government had violated the two men's rights to life, honour and freedom of expression. It said the commission had "identified sufficient serious evidence to conclude that State agents had been involved in the deaths of Payá and Cepero". Friends, family and fellow dissidents, as well as international human rights groups, have long accused the Cuban government of causing the crash, a charge it denies. The Inter-American Commission on Human Rights is an autonomous organ of the Organization of American States (OAS), a group the Cuban government brands an imperialist instrument of the United States.

Persons: Oswaldo Paya, Harold Cepero, Angel Carromero, —, Cepero, Dave Sherwood, Angus MacSwan Organizations: Inter, American, Human Rights, Cuban, Organization of American States, Thomson Locations: HAVANA, Cuba, Cuban, Paya, United States

☆ Analysis: Qatar takes diplomatic back seat as Saudi flexes political muscle
▼ + stars: | 2023-05-18 | by ( Andrew Mills | ) www.reuters.com time to read: +6 min

Qatar has been steadily mending ties with Saudi Arabia, Egypt, the United Arab Emirates and Bahrain. Qatar cast the Syrian National Coalition as a government-in-exile, handing them Syria's Arab League seat and opening the Doha mission in a villa nearby other embassies. Several Gulf states including Qatar, Saudi Arabia and the United Arab Emirates began backing rebel groups fighting to oust Assad from power. As Syria's anti-Assad movement lost ground, "Saudi Arabia and the UAE shifted their policy most dramatically but Qatar has not," Kamrava said. Qatar initially opposed efforts this spring by Saudi Arabia to galvanise support to readmit Syria to the Arab League following its 2011 suspension.

☆ Philippines will pursue drugs war appeal with ICC, says top gov't lawyer
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

MANILA, April 12 (Reuters) - The Philippines will pursue its appeal questioning the International Criminal Court's (ICC) jurisdiction and authority to investigate killings during former President Rodrigo Duterte's 'war on drugs', its top lawyer said on Wednesday. Guevarra said the president's remarks meant the Philippines will "disengage with the ICC after exhausting our legal remedies within the framework of the Rome Statute". The ICC probe was reopened in January 2023. But the tribunal's top prosecutor Karim Khan said the ICC has jurisdiction because the country was a party at the time the alleged crimes were committed. Khan asked the court on April 4 to reject Manila's appeal and uphold its earlier decision to allow the resumption of the probe.

☆ Some Israeli army reservists rule out call-up if judiciary weakened
▼ + stars: | 2023-03-23 | by ( Emily Rose | ) www.reuters.com time to read: +6 min

"I've told the army that if the judicial reform passes (in parliament) I won't continue to come," Colonel N told Reuters, asking not to be further identified. Most Israelis are conscripted into the military for 2-3 years, and some continue as reservists into middle age. While reservists have helped Israel prevail in a string of wars, the army has relied recently on standing forces. 'HUGE DAMAGE'Experts warn the Israeli military could be weakened by reservists rejecting call-ups. "This definitely inflicts huge damage on the capability and capacity of the Israeli forces," Israel Ziv, a former head of army operations, told Reuters.

☆ UBS's Credit Suisse deal was the best solution says Swiss gov't
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +2 min

Keller-Sutter, who said she held a Credit Suisse bank account, said the worst case had been avoided. This is a commercial solution because UBS is taking over Credit Suisse," she told a press conference in Bern. "The bankruptcy of Credit Suisse would have had a huge collateral damage - on the Swiss financial market also internationally," she said. He said it was far too early to discuss job cuts at Credit Suisse, but he was very positive about Credit Suisse's Swiss business. His upbeat tone contrasted with Credit Suisse Chairman Axel Lehmann, who was emotional when he spoke about the demise of 167-year-old Credit Suisse as an independent bank.

Egypt desperately needs the proceeds from privatisation after a series of economic shocks. STAKE SALE DRIVEEgypt set a target in 2022 of raising $10 billion annually over four years through private investment in state assets. Egypt has established its own sovereign fund to bring in private investors to develop state assets, but the move appears designed to attract capital without relinquishing control, said Sayigh. "They want others to help the state with its financial burden, but it's still the state that determines priorities and investments," he said. MILITARY TAX BREAKSFuture asset sales will be complicated by an expansion under Sisi of the military's often opaque economic role, analysts say.

SYDNEY/NEW YORK, March 13 (Reuters) - U.S. regulators may have stemmed a banking crisis by guaranteeing deposits of collapsed Silicon Valley Bank (SVB), but some experts warn that the move has encouraged bad investor behaviour. Following a weekend of discussions over the future of SVB owner SVB Financial Group , banking regulators unveiled emergency funding plans for the bank. Yet by guaranteeing that depositors would lose no money, authorities have again raised the question of moral hazard - removal of people's incentive to guard against financial risk. "If all bank deposits are now insured, why do you need banks?" Some 89% of around $200 billion in deposits held by SVB at the end of 2022 was uninsured, according to the FDIC.

☆ Billionaire investor Bill Ackman says SVB was not a bailout: 'The people who screwed up will bear the consequences'
▼ + stars: | 2023-03-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US regulators are guaranteeing depositors' funds after the Silicon Valley Bank and Signature Bank collapsed. But this isn't "a bailout in any form," said billionaire investor Bill Ackman. The US government is protecting depositors and not the management or shareholders, he said. In his tweet, Ackman even applauded US authorities' intervention, saying the government "did the right thing for the country" by protecting depositors. The legendary investor has been quite vocal about the wild ride in the US banking industry amid the collapse of Silicon Valley Bank and Signature Bank.

☆ Bill Ackman says U.S. did the 'right thing' in protecting SVB depositors. Not everyone agrees
▼ + stars: | 2023-03-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Billionaire investor Bill Ackman said the U.S. government's action to protect depositors after the implosion of Silicon Valley Bank is "not a bailout" and helps restore confidence in the banking system. In his latest tweet on SVB's collapse, the hedge fund investor said the U.S. government did the "right thing." "Importantly, our gov't has sent a message that depositors can trust the banking system." Ackman's comments came after banking regulators announced plans over the weekend to backstop depositors with money at Silicon Valley Bank, which was shut down on Friday after a bank run. He explained in another tweet: "The bailout means depositors will put their money in the riskiest banks and get paid higher interest, as there's no downside risk."

☆ Investors implore the government to step in after Silicon Valley Bank failure
▼ + stars: | 2023-03-11 | by ( Matt Rosoff | ) www.cnbc.com time to read: +5 min

Big names in Silicon Valley and the finance sector are calling publicly for the federal government to push another bank to assume Silicon Valley Bank's assets and obligations after the financial institution failed on Friday. But the vast majority of SVB's customers were businesses that had more than that on deposit at the bank. As of December, more than 95% of the bank's deposits were uninsured, according to regulatory filings. Investors are concerned that these failures could reduce confidence in the banking sector, particularly mid-sized banks with under $250 billion in deposits. "This was a hysteria-induced bank run caused by VCs," Ryan Falvey, a fintech investor at Restive Ventures, told CNBC on Friday.

☆ Billionaire investor Bill Ackman says feds 'screwed up' handling of Silicon Valley Bank collapse, warns they have '48 hours to fix a soon-to-be-irreversible mistake'
▼ + stars: | 2023-03-11 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Billionaire investor Bill Ackman posted a lengthy tweet about the Silicon Valley Bank collapse Saturday. Ackman criticized the response of the federal government and its lack of monitoring SVB for risk. He said the government has "about 48 hours to fix a-soon-to-be-irreversible mistake" with its handling of SVB. "The gov't has about 48 hours to fix a-soon-to-be-irreversible mistake," Ackman tweeted in a lengthy post Saturday morning. In Ackman's view, this could lead to the collapse of several other smaller banks around the country.

☆ European banking stocks sink as Silicon Valley Bank jitters spread
▼ + stars: | 2023-03-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

European banking stocks sold off sharply in early trade Friday as jitters surrounding U.S. bank SVB Financial — which plunged 60% Thursday — spread around the world. It followed an announcement by the tech-focused lender of a capital raise to help offset bond sale losses. The Euro Stoxx Banks index was on pace for its worst day since June, led by a decline of more-than 8% for Deutsche Bank . Silicon Valley Bank caters heavily to startup firms, particularly venture-backed tech and life sciences companies in the U.S. "If private capital can't provide a solution, a highly dilutive gov't preferred bailout should be considered."

☆ Cratering Silicon Valley Bank's troubles could be the first sign of a new financial crisis. Here's what Burry, Ackman and El-Erian have to say.
▼ + stars: | 2023-03-10 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

Cratering Silicon Valley Bank's troubles could be the first sign of a new financial crisis. While some say the US banking system is solid, others think this could be the first sign of a new financial crisis. Well, and highlighting the current economic/financial/policy fluidity, we have something: banking system worries," El-Erian said on Twitter. Silicon Valley Bank going under would be exponentially worse. Activist Investor Ryan Cohen"Does this mean I don't have to pay back Silicon Valley Bank?"

☆ Billionaire investor Bill Ackman calls on the US government to consider a bailout of Silicon Valley Bank if private investors won't step up
▼ + stars: | 2023-03-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Ackman called on the government for a "highly dilutive" Silicon Valley Bank bailout if the private sector doesn't step up. SVB is a go-to bank and lender to startups in the tech sector and a crucial part of the ecosystem. Greg Becker, the CEO of Silicon Valley Bank, told clients to "stay calm" at a conference call on Thursday, Bloomberg reported, citing a person familiar with the matter. The events spurred concerns among tech VCs and founders about Silicon Valley Bank's financial stability. Silicon Valley Bank did not immediately respond to Insider's request for comment sent outside regular business hours.

☆ India's money laundering rules to apply to crypto trade - gov't notification
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, March 8 (Reuters) - India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7. The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws, the notification said. The safekeeping or administration of virtual digital assets and the participation in financial services related to the offer and sale of virtual digital assets will also be covered, the notification added. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme. Extending India's money laundering rules to cryptocurrencies will give authorities greater authority in monitoring the transfer of these assets beyond the country's borders.

☆ Canada doesn't want 'tit-for-tat' with US on green transition -gov't source
▼ + stars: | 2023-03-07 | by ( Steve Scherer | ) www.reuters.com time to read: +1 min

Countries across the globe are trying to take advantage of a rapid shift to low-carbon energy, and the passage in the United States of the Inflation Reduction Act (IRA) last year provides massive incentives for those who invest there. In the 2023-2024 budget, Canadian Finance Minister Chrystia Freeland has promised to try to level the playing field, at least in some areas, with the United States after the IRA. "It's about growing the pie, not just dividing it up," said the source familiar with the file, who was not authorized to speak on the record. "We don't want to get into a game of tit-for-tat," the source said. Reporting by Steve Scherer; editing by Denny Thomas and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Ecuador Indigenous organization ends talks with gov't, calls for Lasso resignation
▼ + stars: | 2023-02-25 | by ( Alexandra Valencia | ) www.reuters.com time to read: +2 min

[1/3] Leonidas Iza, leader of Ecuador's indigenous organization CONAIE, and leaders of the indigenous nationalities of the Sierra, the coast and the Amazon celebrate, on the day of a meeting held by Ecuador's top indigenous organization CONAIE along with other campaign groups to discuss a date for new protests against the government of President Guillermo Lasso, in Quito, Ecuador February 24, 2023. REUTERS/Karen ToroQUITO, Feb 24 (Reuters) - A major Ecuadorean Indigenous organization said on Friday it will not continue talks with the government of President Guillermo Lasso, saying the government has not complied with accords, and called for Lasso's resignation over alleged corruption. The government has said it reached dozens of accords with the CONAIE indigenous organization, including a temporary moratorium on oil blocks in the Amazon and suspension of new mining concessions in ancestral territory until community consultation laws can be passed. "CONAIE breaks this process of dialogue and retires from monitoring efforts," its president Leonidas Iza told journalists after meeting with other Indigenous groups. "Mr. Guillermo Lasso for the dignity of our country, for your inability to govern and resolve the most important problems of Ecuadoreans, present your resignation," Iza said.

☆ Dutch gov't, Shell and Exxon ignored Groningen risks for years, inquiry finds
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +3 min

[1/4] Workers rebuild homes in the northern Dutch town of Overschild, where earthquakes from natural gas extraction have made them unsafe, Netherlands, March 10, 2022. REUTERS/Anthony Deutsch/File PhotoAMSTERDAM, Feb 24 (Reuters) - The Dutch government and energy companies Shell (SHEL.L) and Exxon Mobil (XOM.N) ignored the risks of gas production in Groningen for years, to the detriment of people living in the province, a parliamentary inquiry concluded on Friday. The massive Groningen field is operated by Shell and Exxon joint venture NAM and was one of Europe's major suppliers of natural gas for decades. Groningen gas production has been cut back significantly over the past decade and will be halted in the coming year because of the threat to life and property from the resulting earth tremors. "Gas extraction in Groningen was so successful and lucrative for the Dutch government, Shell and Exxon Mobil that they hardly took any notion of the long-term risks and the ever-clearer signs of the detrimental effects for the people in Groningen," it said.

Treasury said the government planned to take on 254 billion rand ($14 billion) of Eskom's 423 billion rand debt it said was at risk of default, to enable the utility to pay down the debt and interest obligations. South Africa has been struggling for years to overhaul Eskom, which is plagued by corruption and mismanagement and has received 263.4 billion rand in bailouts since 2008/09. Treasury said about 168 billion rand of Eskom’s debt relief will be in capital and 86 billion rand in interest payments over the next three years. Eskom's debt relief has strict conditions, Treasury said. A proposal to address the debt municipalities owe Eskom, at 56.3 billion rand as of end December 2022, was being finalised.

☆ Swiss gov't rejects request from Spain to allow it to re-export anti-aircraft guns to Ukraine
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Feb 10 (Reuters) - Switzerland has rejected a request from Spain to allow it to re-export Swiss-made anti-aircraft guns to Ukraine, the Bern government said on Friday. Madrid had made the request in January to allow two 35mm anti-aircraft guns, which were made in Switzerland, be sent to Ukraine. Switzerland has previously vetoed requests from Denmark and Germany who wanted to send Swiss-made armoured vehicles and ammunition to help Ukraine in its war against Russia. Reporting by John Revill; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Netherlands, Denmark and Germany buy 100 Leopard 1 Tanks for Ukraine - Dutch gov't
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

THE HAGUE, Feb 7 (Reuters) - The Netherlands, Denmark and Germany are buying 100 Leopard-1A5 battle tanks for Ukraine, the Dutch government said on Tuesday. The Dutch defense ministry said in a statement the tanks would be purchased "directly from German industry". In an interview on Dutch national broadcaster NOS, Netherlands Defense Minister Kasja Ollongen said the tanks, a slightly older model, are "definitely still useable" for fighting in Ukraine. "It's a tested tank, and because they're being tuned up and made ready for fighting, they will definitely be useful for the Ukrainians," she said. Reporting by Bart Meijer and Toby Sterling, writing by GV De Clercq, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ India's 2023/24 budget likely to be cautious, cutting deficit
▼ + stars: | 2023-01-25 | by ( Aftab Ahmed | ) www.reuters.com time to read: +4 min

The federal government is likely to cut its fiscal deficit to between 5.8% and 5.9% of GDP in 2023/24 from the 6.4% of 2022/23, other officials have said. The deficit will remain much larger than the 4% to 4.5% of GDP that was usual for decades. Reuters GraphicsThe international slowdown will hold down growth in nominal GDP - real growth plus inflation - to about 11% for 2023/24 from an estimated 15.4% for 2022/23. NUMBERS VS SPEECHModi's government in the past has used the budget document to lay out a broad economic vision and social agenda. The government is expected to borrow a record 16 trillion rupees in 2023/24, according to a Reuters poll.

☆ Firms use Google ads to entice small businesses to pay for help the gov't provides free
▼ + stars: | 2023-01-20 | by ( Jesselyn Cook | Jesselyn Cook Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +11 min

Several draw in unwitting customers like Talbot through Google ads that outrank the legitimate SAM.gov page, illustrating the ease of buying visibility on the world’s largest search engine. Google removed the ads for a number of these sites in response to an inquiry for this article but subsequently reversed its decision. “We have strict ads policies that govern the types of ads and advertisers we allow on our platforms,” Google spokesperson Davis Thompson said in a statement. But the Small Business Administration urges people not to spend their precious resources on these services when so many free alternatives exist. She expects new, prominently displayed Google ads to play a part in the problem.

U.S. District Judge Rodney Gilstrap said halting the lawsuit until the Patent Trial and Appeal Board reviews the patents would unnecessarily delay the court case and prejudice Caltech. Representatives for Samsung and Caltech did not immediately respond to a request for comment. The school's 2021 lawsuit alleges Samsung's Galaxy phones, tablets, watches and Wi-Fi-enabled Samsung products like televisions and refrigerators infringe its data-transmission patents. The Texas case is scheduled to go to trial in September. The case is California Institute of Technology v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No.

Organizations: & $

Search resuls for: "gov't"

25 mentions found