DIRS.INFO The most relevant business & tech news

China says it will retaliate if Kevin McCarthy, the House speaker, meets with Taiwanese leader Tsai Ing-wen. China said it would retaliate if House Speaker Kevin McCarthy meets with Taiwanese President Tsai Ing-wen during her planned stop in California next week, further stoking tensions around a highly scrutinized visit that is poised to test strained ties between Beijing and Washington. Ms. Tsai is set to meet with Mr. McCarthy and other Republican members of Congress at the Ronald Reagan Library in Simi Valley on her way back from visits to Guatemala and Belize. It is the second of two planned stops in the U.S. bookending her trip to Central America.

☆ Israel launches new spy satellite, overseen by Gallant
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, March 29 (Reuters) - Israel put a new version of its Ofek spy satellite into orbit on Wednesday, with the Defence Ministry saying it would enhance around-the-clock regional monitoring as the country braces for a possible showdown with Iran. The launch, planned months in advance, was overseen by Defence Minister Yoav Gallant - a signal he was staying in office despite Prime Minister Benjamin Netanyahu's announcement on Sunday that he would be fired amidst a constitutional crisis. The Ofek-13, manufactured by state-owned Israel Aerospace Industries (IAI) Ltd [RIC:RIC:ISRAI.UL], is the latest in a series of locally produced satellites first put into orbit in 1988. The next day, Netanyahu announced Gallant's dismissal - triggering a surge of anti-government protests and stoking U.S. concern for Israel's democratic health and military readiness. Writing by Dan Williams; Editing by Christian Schmollinger and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Trump gloated over his January 6 prison choir song 'beating Taylor Swift' on the charts: 'I feel like Elvis'
▼ + stars: | 2023-03-29 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Trump told Fox News' Sean Hannity that he feels "like Elvis" after "beating Taylor Swift." The Trump song topped the iTunes chart in the US on March 11. Trump told Fox News host Sean Hannity that he was elated that his track was doing so well. "The J6 is beating Taylor Swift. Known collectively as the J6 Prison Choir, they sang a rendition of "The Star-Spangled Banner" from behind bars.

☆ Israel's Netanyahu buys time, but is still in a fix
▼ + stars: | 2023-03-28 | by ( Angus Mcdowall | ) www.reuters.com time to read: +4 min

It shows the dilemma facing Israel's longest-serving prime minister, who managed a comeback last year, brushing aside an ongoing corruption scandal and the political obituaries written after his last coalition collapsed in 2020. Announcing the delay of the judicial law on television, Netanyahu cited the wisdom of Solomon to say he would extend a hand for dialogue. With polls showing his coalition would lose any new election, Netanyahu can meanwhile count on little goodwill from old foes and former allies still sore from previous encounters. Netanyahu describes the cases as politically motivated, denies wrongdoing and says they are not linked to his judicial reforms. His coalition partners include hard-right supporters of Jewish settlers, who have dismayed Israel's foreign allies with harsh statements about Palestinians.

☆ North Korea unveils new nuclear warheads as Kim orders more weapons-grade materials
▼ + stars: | 2023-03-27 | by ( Hyonhee Shin | ) www.reuters.com time to read: +4 min

SEOUL, March 28 (Reuters) - North Korea unveiled new, smaller nuclear warheads as leader Kim Jong Un called for scaling up the production of weapons-grade nuclear material to expand the country's arsenal, state media KCNA said on Tuesday. KCNA released photos of the warheads, dubbed Hwasan-31, during Kim's visit to the Nuclear Weapons Institute, where he inspected new tactical nuclear weapons and technology for mounting warheads on ballistic missiles, as well as nuclear counterattack operation plans. Kim ordered the production of weapons-grade materials in a "far-sighted way" to boost its nuclear arsenal "exponentially" and produce powerful weapons, KCNA said. "The frantic war drills in the puppet region are not just military drills but nuclear war drills for a preemptive strike ... pursuant to the U.S. political and military option to escalate confrontation with the DPRK and finally lead to a war," it said. DPRK is an abbreviation for North Korea's official name, the Democratic People's Republic of Korea.

☆ The Fed's rate hike policy doesn't have many fans — but abandoning the inflation target would be a 'disaster' that brings the economy back to the 1970s, a Fed official says
▼ + stars: | 2023-03-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The president of the St. Louis Fed said it would be a disaster for the Fed to abandon its inflation target. The Fed has been hiking interest rates aggressively to get inflation down to 2%. The Fed then targeted inflation aggressively and adopted the 2% inflation target in the 1990s. Ethan Harris, a Bank of America economist, wrote in a December note there's little evidence that the 2% inflation target is the "optimal target," per Fortune. Higher interest rates make borrowing — like mortgages to credit cards more expensive.

☆ Awaiting possible indictment, Trump rallies in Waco and vows to 'destroy the deep state'
▼ + stars: | 2023-03-26 | by ( Jonathan Allen | ) www.cnbc.com time to read: +5 min

Former U.S. President Donald Trump at first rally since announcing his 2024 presidential campaign, at the Waco Regional Airport on March 25, 2023 in Waco, Texas. "Either the deep state destroys America or we destroy the deep state," Trump said of the stakes of his bid for a return to the Oval Office. In comments to reporters on his plane after the rally, Trump further tore into DeSantis saying, "He's got no personality. Former US President Donald Trump speaks at a campaign event in Waco, Texas, US, on Saturday, March 25, 2023. Former US President Donald Trump speaks at a campaign event in Waco, Texas, US, on Saturday, March 25, 2023.

☆ Explaining the relative calm of the stock market as the Fed hikes rates into a mini-financial panic
▼ + stars: | 2023-03-25 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

.SPX 1Y mountain S & P 500, 1-year So, are equities under-reacting to a badly contorted bond market, a potentially trapped Fed and faltering economy? This has allowed the S & P 500 excluding financials and real estate to outperform the headline index by a couple percentage points year to date. Microsoft alone has added some $240 billion in market value since that date, more than the entire market cap of the S & P 500 regional-banks sub sector. Only about 60% of the S & P 500 members are positive over the past six months even as the index is up 7.5%, a loss of internal energy. The flash S & P Global U.S. Composite PMI for March, reported Friday, was up to 53.3 from 50.1 the prior month and above the 49.5 forecast, a reading S & P says is consistent with around a 2% real GDP pace.

☆ US due diligence firm Mintz Group says staff detained in China after office raid
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +3 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum. "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. "Mintz Group has not received any official legal notice regarding a case against the company and has requested that the authorities release its employees," the company said. 'RED ALERTS'As per Mintz Group's website, the Beijing office is its only one in mainland China. Western due diligence companies have gotten into trouble with Chinese authorities before.

☆ Terrorism experts say Trump's 'dangerous' rhetoric offers his extreme followers 'an excuse' for violence if he's indicted
▼ + stars: | 2023-03-24 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +7 min

Experts on political violence are alarmed by Trump's latest rhetoric as he faces a possible indictment. They warn that Trump's words could trigger riots or assassinations. He has viciously attacked figures like Manhattan District Attorney Alvin Bragg and mocked calls for peaceful protests — leading extremism experts to warn of the potential for political violence. In one of his latest posts to Truth Social, Trump's social media platform, the former president threatened "death and destruction" if he's indicted. A number of those arrested over the insurrection have said that Trump's words drove their behavior.

☆ Argentina to push state entities to give up dollar bonds -ministry official
▼ + stars: | 2023-03-22 | by ( Eliana Raszewski | ) www.reuters.com time to read: +2 min

BUENOS AIRES, March 21 (Reuters) - Argentina's government will push state entities to give up their foreign-law sovereign dollar bonds, an economy ministry official said on Tuesday, aiming to reduce exchange rate volatility and absorb a surplus of pesos. The government, expected to announce the measures by decree on Wednesday, will seek to withdraw foreign-law dollar bonds from state entities and make them place a portion of their local-law dollar bonds on the open market, the official said on condition of anonymity. The government aims to exchange some $4 billion in foreign-law bonds for peso debt, local news outlet Infobae said. State entities that previously bought government bonds would give up some local-law dollar debt to the market, with the rest returned to the central government. They would also return their foreign-law dollar debt, to be exchanged for local-currency debt.

Trump has denied having an affair with Daniels, whose legal name is Stephanie Clifford. "I think this will strengthen the resolve of his supporters," said Ford O'Connell, a Republican strategist who represented Trump in many media appearances during the 2020 presidential campaign. "It’s not good for Trump, the question is how bad for Trump it is," said Sabato. Trump has defied predictions of his demise numerous times since he launched his bid for the White House in 2015. Trump remains the front-runner in the 2024 Republican field, with the support of 44% of Republicans in a Reuters/Ipsos poll completed on Monday, ahead of DeSantis' 30% support.

☆ Economic asphyxiation puts Russia in China’s orbit
▼ + stars: | 2023-03-20 | by ( Pierre Briancon | ) www.reuters.com time to read: +7 min

Cut off from foreign markets by sanctions, Vladimir Putin’s government is at pains to finance budget deficits that would have been manageable in peacetime. The financial difficulties are pushing Russia further into the sphere of influence of China’s President Xi Jinping, who visits Moscow this week. Dipping into the fund, though, will push Moscow further into China’s financial orbit, Russian economist Alexandra Prokopenko has noted. In the short term, financial hope for Russia can only come from a significant increase in oil and gas prices. Trade between China and Russia increased by 34% last year as Chinese imports of oil and gas jumped 50%.

Summary Arrest warrant issued after ex-PM failed to attend courtCourt rejects Khan's offer to appear voluntarilyFormer cricket star denies wrongdoingSupporters battled police for two days to prevent arrestLAHORE, Pakistan, March 16 (Reuters) - A Pakistani court on Thursday rejected former Prime Minister Imran Khan's plea to suspend an arrest warrant issued against him, stoking fears of a renewed confrontation between his supporters and security forces. [1/5] Supporters of former Pakistani Prime Minister Imran Khan, carry sticks as they walk towards Khan's house, in Lahore, Pakistan March 16, 2023. Provincial information minister Amir Mir said there were militants among Khan's supporters outside his house. The police were unarmed, he said, adding they had to use water-cannons and teargas shells when Khan's supporters turned violent. Current Prime Minister Shehbaz Sharif has rejected Khan's demands, saying an election would be held as scheduled later this year.

☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
▼ + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +13 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."

☆ Club meeting recap: Cramer outlines the Club stocks that are well-positioned in a volatile economy
▼ + stars: | 2023-03-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Bank woes pressure stocks Stocks that work Stick with China-exposed names 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday. Reuters Graphics Reuters GraphicsROSIER OUTLOOKA rout in global banking stocks on Wednesday overshadowed many UK-specific moves. Investments announced by Hunt such as a corporate spending tax break, a boost for defence and extra childcare support were not viewed as particularly inflationary. Unlike in the last budget, noise around windfall taxes on oil and gas companies was muted in the run-up to the budget since energy prices have fallen dramatically since then. "In general, the budget is not the big story for gilts right now, global drivers are in the driving seat," said James Smith, economist at ING.

☆ SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
▼ + stars: | 2023-03-14 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales. Becker sold $3.6 million worth of shares on Feb. 27, just days before the bank disclosed a large loss that triggered its stock slide and collapse. The sale capped two years of stock sales by Becker that totaled $29.5 million, according to data from Smart Insider. Altogether, SVB executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider. The sales have sparked criticism of SVB's management — as well as the broader phenomenon of insider stock sales before major declines.

☆ From using multiple banks to managing VC relationships, these are the 5 lessons every founder should have learned from the Silicon Valley Bank nightmare
▼ + stars: | 2023-03-14 | by ( Julie Bort | ) www.businessinsider.com time to read: +7 min

If something happens to one bank, such as a bank run, your company won't face ruin. Silicon Valley Bank famously required such clauses as CNBC reported, for at least some of its loans. Why Silicon Valley Bank failed: SVB's management surprised the market by unveiling bad news coupled with a planned capital raise that failed, among other factors. How Silicon Valley Bank imploded: There was lots of blame to go around. More of our Silicon Valley Bank coverage can be found here.

The inflation rate in January actually rose, while an Atlanta Fed real-time projection as of March 8 showed gross domestic product expanding at a 2.6% annual rate, well above the economy's roughly 2% underlying potential. As of December the high point for the target federal funds rate was expected by most officials to be 5.1%. Government reports released after Powell's last press conference showed the central bank's preferred measure of inflation had risen slightly to a 5.4% annual rate. It is not the first time the Fed has been caught out by after-the-fact data updates. And Powell is trying to be nimble," said former Fed economist John Roberts.

Traders drastically increased their bets that the U.S. central bank will raise rates by 50 basis points later this month, with money market futures pricing in a 64.1% chance of such a move. BlackRock's chief investment officer of global fixed income, Rick Rieder, said the Fed could raise rates to 6% and keep them there for an extended period of time to fight inflation. ET (1315 GMT) is expected to show private employers hired 200,000 workers in February after adding 106,000 jobs in January. Occidental Petroleum Corp (OXY.N) gained 3.1% after Warren Buffett's Berkshire Hathaway Inc (BRKa.N) increased its stake in the oil company to about 22.2%. Reporting by Sruthi Shankar in Bengaluru, additional reporting by Amruta Khandekar Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Cheddar News has seen so many exits that managers have asked staffers to delay scheduled vacations, while promising that reinforcements are on the way
▼ + stars: | 2023-03-08 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Cheddar News has lost more than 10 newsroom staffers since the start of 2023, sources told Insider. As of March, Cheddar appears to have plans to hire at least five news-related roles, according to Altice's jobs portal. a former Cheddar producer said. The two executives are said to have denied speculation that Altice has any plans to combine Cheddar and News 12. Sources previously told Insider that, throughout 2022, the Cheddar newsroom had contracted by roughly a third.

☆ Wall Street drops, Treasury yields gyrate on Fed Chairman Powell's remarks
▼ + stars: | 2023-03-07 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

REUTERS/Toby MelvilleNEW YORK, March 7 (Reuters) - U.S. stocks retreated and benchmark Treasury yields wavered on Tuesday as Federal Reserve Chairman Jerome Powell commenced his semi-annual, two-day monetary policy testimony before Congress. All three major U.S. stock indexes were languid in early trading before Powell's prepared remarks were released as he sat down to testify before the Senate Banking Committee. "(Powell is) stating the obvious - inflation is stubbornly high," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. Emerging market stocks lost 0.65%. Benchmark Treasury yields initially headed higher after Powell's remarks were released but eased as his testimony began in earnest.

☆ We asked CPAC attendees what they think 'woke' means. Their answers were all over the place.
▼ + stars: | 2023-03-04 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

The word "woke" has quickly shot to the forefront of Republican politics in recent years. We asked CPAC attendees what they thought the word means. The word "woke" originally emerged from African American vernacular English, signifying a general awareness of systems of injustice. For Francis, who said he homeschools his own children, the word "woke" invokes the idea of a system of education that's stoking divisions between groups. "Political correctness" appeared to be the most popular short-hand among attendees.

☆ China's imports of Russian oil are on track to hit a record high as Beijing doubles down on steep discounts
▼ + stars: | 2023-03-02 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

China's seaborne imports of Russian crude are on course to hit a record high in March, according to Reuters. Analytics firms Vortexa and Kpler estimate nearly 43 million barrels of Russian crude will reach China this month. The hefty buying comes as China snaps up Russian oil at huge discounts, and the nation relaxes its COVID-19 policies. China has been a top buyer of Russian oil since President Vladimir Putin invaded Ukraine last year. It's also been snapping up Russian crude in the absence of Western buyers, which has subsequently led to lower prices for Asia.

Search resuls for: "Stoking"

25 mentions found