DIRS.INFO The most relevant business & tech news

☆ JPMorgan's Dimon and Goldman's Solomon warn investors to be 'cautious' and 'vigilant' as economic risks mount and conflicts rage
▼ + stars: | 2023-10-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Investors should be very cautious, two leading Wall Street CEOs warned on recent earnings calls. JPMorgan's Jamie Dimon cautioned the boost to portfolios from public policy wouldn't last. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementTwo Wall Street heavyweights have urged investors to be careful as they navigate a morass of economic and geopolitical threats.

Persons: JPMorgan's Jamie Dimon, Goldman Sachs, David Solomon, —, Jamie Dimon, Dimon, Solomon, there's, we've, Goldman Organizations: Wall, Service, JPMorgan, AlphaSense, Hamas, Federal Reserve, Goldman Locations: China, Russia, Ukraine, Israel

[1/8] Asian Games - Hangzhou 2022 - Closing Ceremony - Hangzhou Olympic Sports Centre Stadium, Hangzhou, China - October 8, 2023 A view of the handover ceremony at the closing ceremony REUTERS/Marko Djurica Acquire Licensing RightsHANGZHOU, China, Oct 8 (Reuters) - China's eastern city of Hangzhou rounded off the 19th Asian Games on Sunday with a colourful and "joy"-themed closing ceremony after hosting the continental sporting extravaganza which organisers hailed as "one of the finest" ever. Taking place amid tight security the less-than two hour ceremony also included a handover to the hosts of the next Asian Games in 2026, the Japanese city Nagoya. The hosts' 201st gold left them two better than their previous best of 199 at the 2010 Guangzhou Asian Games. Organisers said 12,407 athletes from 45 nations competed in 40 sports at the Hangzhou Games, which were delayed for a year due to COVID-19. "We have hosted the most successful Asian Games in history" said Chen Weiqiang, Executive Secretary General of the Hangzhou Asian Games Organising Committee and vice-mayor of Hangzhou.

Persons: Marko Djurica, Li Qiang, jigged, Takashi Kawamura, Randhir Singh, Gu Shiau, Kazakhstan's Moldir, Chen Weiqiang, WADA, Martin Quin Pollard, Ian Ransom, Christian Schmollinger, Toby Chopra, Christian Radnedge Organizations: Hangzhou Olympic Sports Centre, Rights, Games, Nagoya, Mainichi, Olympic Council of Asia, energised, Bangkok Games, Hangzhou Games, Hangzhou Asian Games, Doping Agency, Olympic, Paralympic Games, Olympic Council of, OCA Locations: Hangzhou, China, Rights HANGZHOU, Nagoya, Nanjing, Aichi, Guangzhou, Jakarta, Japan, Macau, North, Korea, Olympic Council of Asia

☆ Opinion: Ukraine’s bumpy road ahead just got rockier
▼ + stars: | 2023-09-26 | by ( David A. Andelman | ) edition.cnn.com time to read: +8 min

David A. Andelman David AndelmanThat is the clearest and most present danger to the security of Europe and the entire Western alliance. Fissures are appearing across the hitherto united Western front that can only be sending shivers of joy up Putin’s spine. Putin quite rightly appreciated the stakes — and the opportunity — when he first launched his heartless blockade of Ukraine’s grain, grain that helps feed not only Europe but also vast stretches of Africa now plunged into the threat of devastating hunger. Ukrainian President Volodymyr Zelensky addresses the UN General Assembly last week in New York City. The EU is weighing up a mammoth four-year, 20 billion euro ($21.3 billion) fund to finance weapons purchases for Ukraine.

Persons: David A, David Andelman, Vladimir Putin, shivers, Putin, Hungary —, Volodymyr Zelensky, Bryan R, Smith, hasn’t, ”, Mateusz Morawiecki, Andrzej Duda, Robert Fico, Fico, Olaf Scholz, —, Mitch McConnell, “, ” Robert I, Harvard Kennedy Organizations: CNN, French Legion of, The New York Times, CBS News, America, Republicans, NATO, European Union, UN, Assembly, Getty, Smer Party, ”, World Trade Organization, Ukraine, North, Times, Harvard Kennedy School’s Locations: Ukraine, Europe, Africa, Poland, Slovakia, Bialobrzegi, Warsaw, Hungary, New York City, AFP, New York, Moscow, ” Polish, Banovce nad Bebravou, ” Ukraine, EU, Russia, North Korea, Zelensky, London, America, China, ” China

☆ Multiple crises batter Washington and set up a fateful 2024 election
▼ + stars: | 2023-09-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

The octogenarian president is increasingly coming under scrutiny over his ability to serve a full second term if he wins in November 2024. But the trauma seizing Washington will soon intrude, transfixing the nation in a tumultuous 2024 election. The turmoil in the Republican Party is creating the kind of dysfunction and extremism that could turn off general election voters next year. In more placid times, the auto strike would be a dominant national issue defining a fraught political moment. But it’s just one of many crises threatening to overwhelm a political system that appears on the verge of a serious malfunction.

Persons: Donald Trump, Joe Biden’s, – Trump, Biden, Hunter’s, Kevin McCarthy, It’s, Washington’s, Volodymyr Zelensky, Trump, Zelensky, Vladimir Putin “, – Biden, tailgated, ”, McCarthy, Matt Gaetz, “, Kevin, ” Gaetz, demagogue, Jack Smith, Tanya Chutkan, David Weiss, Hunter Biden, Trump’s, Hunter, –, David Ignatius, Kamala Harris, it’s Organizations: CNN, Republicans, White, Republican, Trump Republicans, Senate, GOP, Hollywood, Press, NBC, Caucus, Florida GOP, Sunday, Fox News . House Republicans, Republican Party, Trump, United Auto Workers, Big Three, Biden Locations: American, China, Ukraine, Washington, Russian, Rosh

☆ Video of a Ram truck flying through Burning Man's mud trap while hauling an RV is the best ad a car company could ask for
▼ + stars: | 2023-09-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The driver of a Ram 1500 TRX defied the odds in a video of the vehicle driving over mud. Amid rainstorms and flooding at Burning Man, the pickup truck managed to escape the muddy playa. While others trudged through ankle-deep mud at Burning Man, the driver of a truck made by Stellantis's Ram brand appeared to power through the wet grounds of Black Rock City, Nevada. The Burning Man festival was hit with rainstorm over the weekend that left more than 73,000 stranded. AdvertisementAdvertisementEach year, Burning Man attracts over 70,000 attendees that include the average Silicon Valley tech bro, models, and billionaires.

Persons: TRX, Stellantis's Ram, Brendan Cogbill, hine, ake Organizations: Service, ust Locations: Wall, Silicon, Black Rock City , Nevada

Three different prosecutors want to put Donald J. Trump on trial in four different cities next year, all before Memorial Day and in the midst of his presidential campaign. A morass of delays, court backlogs and legal skirmishes awaits, interviews with nearly two dozen current and former prosecutors, judges, legal experts and people involved in the Trump cases show. Some experts predicted that only one or two trials will take place next year; one speculated that none of the four Trump cases will start before the election. And between the extensive legal arguments that must take place before a trial can begin — not to mention that the trials themselves could last weeks or months — there are simply not enough boxes on the calendar to squeeze in all the former president’s trials. “While each of the cases seems at this point to be strong, there’s only so much you can ask a defendant to do at one time.”

Persons: Donald J, Trump, ”, Jeffrey Bellin Organizations: Trump, Republican, & Mary Law School Locations: Washington

☆ A day of legal action in Trump imbroglio previews a chaotic 2024 election year
▼ + stars: | 2023-08-08 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

All of this frenzied activity unfolding on one day represents just a snapshot of the complex legal morass now surrounding Trump. And while Monday was notable for a head-spinning sequence of legal maneuvering, it did not even encompass all of the pending cases against Trump. When it comes to Smith’s indictment, Trump’s lawyers are arguing that he was within his rights to claim the election was stolen. Trump’s legal plight reverberates in 2024 campaignAny normal political candidate would have seen their political ambitions crushed by even one of the cases in Trump’s bulging portfolio of legal jeopardy. Thanks to Trump’s unfathomable and widening legal nightmare, nothing about the 2024 election is going to be anywhere near normal.

Persons: quagmire, Donald Trump, Joe Biden’s, It’s, he’s, Biden, Jack Smith’s, Trump, Bernie Kerik, Rudy Giuliani –, –, Jean Carroll, Walt Nauta, Aileen Cannon’s, Gov, Geoff Duncan, Smith, Nancy Pelosi, Mitch McConnell, I’m, Tanya Chutkan, Mike Pence, Chutkan, Barack Obama, reverberates, Ron DeSantis, DeSantis, ” Trump, Pence, Trump’s Organizations: CNN, Republican, Trump, GOP, House, New, FBI, Trump’s, Justice Department, US, soccer, Prosecutors, Capitol, Republican Party, Florida Gov, NBC, White Locations: Georgia, Washington, New York City, Manhattan, West Palm Beach , Florida, Atlanta, Trump, –, West Virginia, Chutkan, Fulton County , Georgia, New Hampshire, Iowa

☆ AI Scams, Spam, Hacking, Are Ruining the Internet
▼ + stars: | 2023-08-08 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

A report from Europol expects a mind-blowing 90% of internet content to be AI-generated in a few years. A report from Europol, the European Union's law-enforcement agency, expects a mind-blowing 90% of internet content to be AI-generated in a few years. And while AI bots have telltale signs now, experts indicate that they will soon get better at mimicking humans and evading the detection systems developed by Menczer and social networks. While misinformation has long been a problem with the internet, AI is going to blow our old problems out of the water. But security researchers have discovered that the AI bots in your apps and devices might steal sensitive information for the hackers.

Persons: HBO Max, haven't, ChatGPT, Christian Selig, Reddit, Martijn Pieters, He'd, NewsGuard, Gordon Crovitz, NewsGuard's, Filippo Menczer, NewsGuard's Crovitz, Christopher Cowell, Cowell, John Licato, Bing, Florian Tramèr, Toby Walsh, Walsh, Shubham Agarwal Organizations: HBO, Europol, Market, Indiana University's Observatory, Social Media, Facebook, Microsoft, Google, University of South, ETH Zürich, University of New, University of Oxford, Wired, Company Locations: Cambridge, Europol, Portland , Oregon, Etsy, University of South Florida, University of New South Wales, Ahmedabad, India

☆ The genius plan that could bring down skyrocketing home prices
▼ + stars: | 2023-08-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy. Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind. "A typical New Zealand city looks a lot like a typical US city," Gray said. There are three models of housing construction in US cities right now, Gray said. "In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."

Persons: Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman Organizations: Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University Locations: New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City

☆ Analysis-China's stubborn savers risk precipitating liquidity trap
▼ + stars: | 2023-08-04 | by ( Winni Zhou | Rae Wee | ) www.reuters.com time to read: +5 min

“Based on Japan’s experience in the 1990s, there is the risk that China is entering a liquidity trap due to the risks of balance-sheet recession,” said Natixis’s chief economist for Asia Pacific Alicia Garcia Herrero. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. Yet about 180 domestic A-share companies say in their stock filings that they have invested in CDs this year. China’s 220 million retail stock investors, equivalent to Brazil’s population and the biggest drivers of daily moves, have kept to the sidelines this year. “I wouldn’t pour money into the stock market any time before I see a clear rising trend,” he said.

Persons: Florence Lo, ”, Asia Pacific Alicia Garcia Herrero, “, Byron Gill, ‘, ” Gill, Betty Wang, Wu, ” Wu, John Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo’s Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai

Analysts see the same lack of confidence in today's Chinese households and companies that Japan grappled with in the 1990s. But in China's case there is a key difference; there is no deflationary threat yet, nor have banks switched off lending. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. China's policymakers have cut rates and encouraged banks to lend more in efforts to revive economic growth after the pandemic. China's 220 million retail stock investors, equivalent to Brazil's population and the biggest drivers of daily moves, have kept to the sidelines this year.

Persons: Florence Lo, Asia Pacific Alicia Garcia Herrero, Byron Gill, Gill, Betty Wang, Wu, John, Winni Zhou, Rae Wee, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo's, Thomson Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai, Singapore

☆ 40 million ways Trump’s campaign is morphing into his legal defense
▼ + stars: | 2023-07-31 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Legal net tightens while Trump creates new echo of first impeachmentTrump’s legal struggles still dominate the Republican race. Despite Trump’s legal woes, no rival Republican has shown much sign of narrowing his double-digit lead in national primary polls. The PAC, Save America, has spent more than $40 million on legal fees since the start of this year, a source familiar with the matter told CNN, which is more than double the amount the group spent on legal fees in all of 2022. The details of the spending on legal fees by Trump’s PAC were first reported by the Washington Post. “I have good friends who did nothing wrong who had their legal fees paid by Save America PAC.

Persons: Donald Trump’s, Joe Biden, Chris Christie –, Trump, can’t, Donald Trump, it’s Trump, ” Christie, Kasie Hunt, ”, Nikki Haley, Haley, hoarded, Ron DeSantis, he’s, ” DeSantis, Biden, Kamala Harris, Harris, “, DeSantis, Smith, Walt Nauta, Carlos De Oliveira, Trump’s, Hunter, Hunter Biden, Volodymyr Zelensky, Joe Biden’s, ” Trump, Steven Cheung, De Oliveira, Michael Glassner, The New York Times . Ohio Republican Sen, J, Vance, ” Vance, Fani Willis, ” Willis, “ We’ve, We’re Organizations: CNN, PAC, GOP, Former New Jersey Gov, –, CNN’s, America, South Carolina Gov, Cabinet, United Nations, Justice Department, White House . Florida Gov, ABC News, Republican, Sunshine State, Black Republican, Trump, White, Republican Party, Democratic, Federal, Save, Trump’s PAC, Washington Post, Patriot Legal Defense Fund Inc, The New York Times, The New York Times . Ohio Republican, Twitter, Save America PAC, Save America, Department of Justice, WXIA Locations: Georgia, Washington, New Hampshire, CNN’s “ State, Florida, Washington , Georgia, New York, Mar, Iowa, Erie , Pennsylvania, Ukraine, The New York Times . Ohio, Manhattan, Fulton County , Georgia, Fulton County

☆ Colorblindness Is Worth a Try
▼ + stars: | 2023-07-25 | by ( Charlotte Allen | ) www.wsj.com time to read: 1 min

Wonder Land: Democrats said decades ago they alone would run policies for black Americans. Now comes the reckoning. Images: AP/Getty Images Composite: Mark KellyJustice Ketanji Brown Jackson , dissenting in Students for Fair Admissions v. Harvard, argued that the absence of racial preferences in college admissions “will forestall the end of race-based disparities.” “The only way out of this morass,” she wrote, “is to stare at racial disparity unblinkingly, and then do what evidence and experts tell us is required to level the playing field.” Never mind that colleges and the court have been doing that for half a century.

Persons: Mark Kelly Justice Ketanji Brown Jackson, ”, “ Organizations: Harvard

☆ Opinion | Susan Faludi Thinks ‘Barbie’ Is a Delight. She Also Thinks It’s About Abortion.
▼ + stars: | 2023-07-25 | by ( Jessica Bennett | ) www.nytimes.com time to read: +2 min

Susan Faludi suggested we show up to the “Barbie” movie in a pink Corvette, but unfortunately, the only car available was a pickup truck. Even her origin story: She was based on a sex doll for men, but somehow marketed to mothers for their daughters. Barbie has been a protest slogan (“I am not your Barbie”), a bimbo (remember “Math class is tough” Barbie? But it also had a director — Greta Gerwig — with indie street cred, and early reviews focused on the film’s subversiveness. Ms. Gerwig, it seemed, had managed to make Barbie satisfyingly self-aware, likable and mockable; she called out the hypocrisy of the manufacturer — Mattel — while getting its blessing on the project.

Persons: Susan Faludi, Barbie, “ Barbie, ” I’d, Faludi, —, ”, — Greta Gerwig, Mattel Organizations: Toyota Tacoma, Pulitzer

☆ Opinion | A Trump-Biden Rematch That Many Are Dreading
▼ + stars: | 2023-07-24 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “The Presidential Rematch Nobody Wants,” by Pamela Paul (column, July 21):Ms. Paul asks, “Have you met anyone truly excited about Joe Biden running for re-election?”I am wildly enthusiastic about President Biden, who is the best president in my lifetime. Mr. Biden has done more to combat climate change, the existential issue of the day, than all the presidents who have gone before him. He has marshaled the free peoples of the world to stop the Russian takeover of Ukraine, giving dictators around the world pause. Most important, Joe Biden is an honorable man at a time when his biggest rivals do not know the meaning of the word. Being honorable is the essential virtue, without which youth or glibness do not matter.

Persons: Pamela Paul, Paul, “, Joe Biden, ”, Biden Locations: Afghanistan, Ukraine

Prime Minister Rishi Sunak hopes to hold onto power by selling himself as the repairman for a broken Britain. But with inflation still high, debt ballooning and growth sputtering to a halt, economic woes may prove to be Mr. Sunak’s undoing. Mr. Sunak’s challenges could become more difficult on Wednesday when Britain’s inflation rate for June is announced, with analysts saying it could remain above 8 percent. That would put at risk one of the five targets Mr. Sunak set for his government: to halve the inflation rate by the end of 2023. Britain’s annual inflation rate is higher than that of its European neighbors and twice that of the United States.

Persons: Rishi Sunak, Sunak Organizations: Conservative Party Locations: Britain, —, United States

☆ Trump: Why a third indictment of the former president could be such a profound stain on his legacy
▼ + stars: | 2023-07-19 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Smith has not tipped his hand over what charges Trump could face. Former Trump lawyer Ty Cobb told CNN’s Erin Burnett on Tuesday that any potential indictment relating to election interference ought to be viewed as a particularly historic stain. How a new indictment could impact the GOP presidential raceThe possibility of another indictment against Trump also raises new political questions. “If you notice recently, President Trump went up in the polls and was actually surpassing President Biden for reelection. A third indictment would also further fuse Trump’s legal campaign and political one.

Persons: Donald Trump, Trump, Jack Smith’s, Smith, who’s, –, “, ” Trump, Joe Biden, ”, Trump’s, Ty Cobb, CNN’s Erin Burnett, ” Cobb, J, Michael Luttig, Jack Smith, ” Luttig, Jeffrey Sloman, Dana Nessel, CNN’s Jake Tapper, Ron DeSantis, we’ll, I’ll, ” DeSantis, Nikki Haley, ” Haley, Kevin McCarthy –, Biden, ” McCarthy, he’s, he’d, Hillary, Aileen Cannon, Cannon, David Harbach Organizations: CNN, Justice Department, GOP, Democratic, Congress, Trump, Law, Southern, Southern District of, Democrat, Wolverine State, Florida Gov, ” Former South Carolina Gov, Fox News, Republican, Capitol, Oval, Republican National Convention Locations: Manhattan, Lago, Florida, Iowa, United States, Southern District, Southern District of Florida, ”, Trump’s, Georgia, Trump

Jackson and Thomas, reflecting a deep divide in the United States, diverged on how race must be treated in the law. Thomas wrote a concurring opinion accompanying the ruling that said Jackson's "race-infused world view falls flat at each step." "Our country has never been colorblind," Jackson wrote in her dissenting opinion, which was joined by the two other liberal justices. Much of what Thomas wrote on Thursday was directed at Jackson. "Justice Thomas ignited too many straw men to list, or fully extinguish," Jackson wrote.

Persons: Ketanji Brown Jackson, Clarence Thomas, Jackson, Thomas, Jackson myopically, Ilya Somin, Jim Crow, Michael Dorf, Justice Jackson, John Roberts, Black, Joe Biden, Andrew Chung, Will Dunham Organizations: U.S, Supreme, Constitution, George Mason University, Black, Cornell Law, Harvard, UNC, Democratic, Thomson Locations: United States, U.S, Southern, New York

☆ Rudy Giuliani was helping Noelle Dunphy in a brutal legal fight with her 'abusive' ex when he abused her himself: court docs
▼ + stars: | 2023-05-16 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Noelle Dunphy says she agreed to work for Giuliani when he promised a $1 million salary and free legal help. At the time, Dunphy was embroiled in a messy court battle with a wealthy, "abusive" ex, court papers state. "Rather, Ms. Dunphy would come to understand that Giuliani was aroused by discussing her sexual history and violent relationships. But Giuliani was slinging insults at her on Twitter and had revealed her true name in connection with the case, Dunphy alleged. Giuliani took advantage of Dunphy's legal troubles, her lawsuit allegesFar from helping Dunphy with her legal morass, Giuliani "abused his position as Ms. Dunphy's lawyer to pressure her into sex," her lawsuit claims.

☆ Opinion: Top secrets come spilling out
▼ + stars: | 2023-04-16 | by ( Richard Galant | ) edition.cnn.com time to read: +16 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Writing for CNN Opinion, Rep. Justin Pearson noted, “This should be a chastening moment for revanchist forces in Tennessee’s legislature and across the country. Over the long haul, the undemocratic machinations employed to oust us from office are destined to fail. Dr. Martin Luther King, Jr. once famously said that the moral arc of the universe bends toward justice. “As a Jewish historian,” Perry wrote, “I worry about the tension between preserving the memory of past hardships while not locking our entire history into a tale of oppression.

☆ Opinion: A pleasant flight in South Africa vs. air travel horrors in America
▼ + stars: | 2023-04-12 | by ( Jill Filipovic | ) edition.cnn.com time to read: +7 min

CNN —This past weekend, I had one of the most unusual experiences of my life: a day of air travel that was easy, sensible, efficient — dare I say pleasant. But last Saturday, it was — which highlighted just how unpleasant and undignified air travel often is, particularly within the United States. So, let’s say your flight is still scheduled and you’ve paid extra money to travel with a bag. But air travel was bad well before the pandemic. But every once in a while, like this past weekend as I settled into my oversized South African Airways seat without having broken a sweat, I’ll see a little glimmer of what air travel could be.

"This is all a bit of a mess," Krishna Guha, vice chair of ISI Evercore and a former New York Federal Reserve official, wrote ahead of a Federal Open Market Committee meeting that has veered from a dead-certain jump in interest rates two weeks ago to a speculative morass. The yield on the 2-year Treasury note - particularly sensitive to Fed policy expectations - rose steadily through the day, adding roughly a quarter of a point from the overnight low and approaching 4%. Analysts trying to parse what recent bank stress might mean said a coming credit contraction could be the equivalent of an additional quarter point Fed rate increase, or as much as a recession-inducing 1.5 percentage points, rendering further rate hikes obsolete. "The emergence of financial stress is likely to indicate to the committee that monetary policy is closer to being 'sufficiently restrictive' than some may have thought previously," BOA economists wrote. "At the very least, stress in financial markets suggests that the Fed should proceed with caution."

☆ Cramer to the Fed: You have an elegant fix for the Silicon Valley Bank crisis — please use it
▼ + stars: | 2023-03-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

ET, where Jim and other experts will discuss the ramifications of Silicon Valley Bank's demise on the economy and the stock market. The who is Silicon Valley Bank. Silicon Valley Bank was not likely to support your company if it did not receive all of your deposits. ET, where Jim and other experts will discuss the ramifications of Silicon Valley Bank's demise on the economy and the stock market. A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.

☆ How the Supreme Court could re-shape the internet as you know it
▼ + stars: | 2023-02-24 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

Nearly 30 years of protectionsA view of the U.S. Supreme Court on February 21, 2023 in Washington, DC. The Supreme Court isn't the only one reviewing Section 230; Congress and the White House have also proposed changes to the law, though legislation to update Section 230 has consistently stalled. For skeptics of the tech industry, and critics of social media platforms, more lawsuits would imply more opportunities to hold tech companies accountable. Allowing the courts to scrutinize the tech industry more would bring it in line with other industries, some have argued. Even a 'like' could trigger a lawsuitLiability could also extend to individual internet users.

☆ Trade group argues U.S. SEC case unfairly labels crypto as securities
▼ + stars: | 2023-02-22 | by ( Hannah Lang | ) www.reuters.com time to read: +3 min

Feb 22 (Reuters) - Cryptocurrency trade association Chamber of Digital Commerce is urging a federal court to dismiss a case brought by the U.S. securities regulator against ex-Coinbase (COIN.O) employees accused of insider trading, arguing that the case unfairly labeled several crypto assets as securities. The Blockchain Association also filed an amicus brief in the case earlier this month. The crypto industry has previously criticized the SEC for bringing enforcement cases against digital asset companies, arguing that the regulator should instead engage in formal rulemaking specific to cryptocurrency. The SEC has maintained that pre-existing securities laws also apply to digital assets, and that many crypto tokens meet the definition of a security. The move would also likely hurt the value of those tokens, which could harm retail investors, the group said.

Search resuls for: "morass"

25 mentions found