DIRS.INFO The most relevant business & tech news

☆ Tesla may announce Mexico plant in coming days - report
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 19 (Reuters) - Electric carmaker Tesla (TSLA.O) could announce the construction of a "Gigafactory" in the northern Mexican state of Nuevo Leon as soon as Friday, local newspaper Reforma reported Monday. The initial investment is projected at between $800 million and $1 billion, sources told the newspaper. A source told Reuters then that Musk had met with Nuevo Leon Governor Samuel Garcia and U.S. The Mexican Gigafactory, planned on the outskirts of the city Monterrey, would start by building components for current Tesla models, a source told Reforma, later possibly building a new model at a lower cost than other factories. Mexican Foreign Minister Marcelo Ebrard said earlier this month that Musk had toured three states in Mexico scouting locations for the factory.

☆ Jesuit abuse case widens as victim speaks, order seeks witnesses
▼ + stars: | 2022-12-19 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

Rupnik is at the centre of scandal that has engulfed the Jesuits, a Catholic order of priests and brothers, of which Pope Francis is a member. Some top Jesuits have called for a full review of how the order and the Vatican have handled the case. It said it had commissioned an unnamed non-Jesuit to investigate Rupnik, 68, after the Vatican received a complaint last year. The Jesuits gave the results to the Vatican doctrinal department, which closed the case in October, citing the statute of limitations. On Dec. 7, Jesuit leader Father Arturo Sosa said nothing had been hidden, but later contradicted himself.

☆ Tesla may announce $800 mln to $1 bln in Mexico plant in coming days - report
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

The total investment, taking into account future expansions, could eventually reach $10 billion, sources told the newspaper. The announcement would follow Chief Executive Elon Musk's visit to the state, which borders Texas, in October. A source told Reuters then that Musk had met with Nuevo Leon Governor Samuel Garcia and U.S. A federal official told Reuters Tesla would announce news of its planned investment when it was ready to do so, but that it would not necessarily be before Christmas. Mexican Foreign Minister Marcelo Ebrard said earlier this month that Musk had toured three states in Mexico scouting locations for the factory.

☆ Electric vehicles confront the leap to the mass market
▼ + stars: | 2022-12-15 | by ( Joseph White | ) www.reuters.com time to read: +4 min

Industry executives and forecasters do not agree on how rapidly electric vehicles could take over half the global vehicle market, let alone all of it. In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. By 2029, electric vehicles could account for a third of the North American market, and about 26% of vehicles produced worldwide, according to AutoForecast Solutions, a consultancy. Electric vehicle sales likely will not increase in a smooth, ever-ascending curve, said AFS President Joe McCabe. The next few years will determine whether the 21st Century's crop of electric vehicle brands will follow a similar path.

☆ Dollar to rebound, accumulate safe-haven strength in 2023: Reuters poll
▼ + stars: | 2022-12-07 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

BENGALURU, Dec 7 (Reuters) - The dollar will rebound against most currencies over the coming months, with the growing threat of recession in the U.S. and elsewhere keeping it firm in 2023 through safe-haven flows, according to market strategists polled by Reuters. Nearly two-thirds or 33 of 51 strategists who answered an additional question said the greater dollar risk over the coming month was that it would rebound rather than falling further. "We foresee volatility levels remaining high in the coming months and expect it is too early for USD bulls to fully capitulate." Most major central banks, including the Fed, are expected to end their tightening campaigns in early 2023. An overwhelming 80% majority, or 42 of 51 respondents, said there was not much scope for dollar upside based on monetary policy.

☆ Citadel celebrates banner year at Disney as Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. This year is shaping up to be a record for Citadel and Citadel Securities, Ahmed confirmed. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses, while many Americans are struggling with rising prices for food, gasoline and rents. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Citadel celebrates banner year at Disney while Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been akin to riding a wild roller coaster. This year is shaping up to be a record for Citadel and Citadel Securities, the spokesman confirmed. The Citadel Global Fixed Income Fund is up 28.1% for the year, while Citadel Tactical Trading is up 22.4% and Citadel Equities Fund is up 17.8%, an investor said. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Global airlines see return to profitability in 2023
▼ + stars: | 2022-12-06 | by ( Emma Farge | ) www.reuters.com time to read: +4 min

[1/2] Global airline industry body International Air Transport Association (IATA) Director General Willie Walsh attends an interview with Reuters in Doha, Qatar, June 19, 2022. Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic, but air travel has partially recovered and some airports have struggled to cope. DOWNSIDE RISKIATA believes global air traffic levels will return to pre-COVID or 2019 levels by 2024, led by the United States and with Asia-Pacific "notably lagging." If China does not loosen restrictions, airlines' profitability would be affected. Walsh said airlines had survived the worst of the downturns, though Europe's fragmented market remained an area to watch.

☆ Analysis: Investors face dilemma as capital increases fill IPO void
▼ + stars: | 2022-12-06 | by ( Pablo Mayo Cerqueiro | Oliver Hirt | ) www.reuters.com time to read: +4 min

"This is a test as to whether shareholders want to support a company they know well already," he said. In contrast with a drought of initial public offerings (IPO), EMEA companies have raised an overall 33.3 billion euros ($34.99 billion) through capital increases so far this year. Meanwhile, fund managers' cash holdings stand at a near 21-year peak, according to poll data from Bank of America. "However, the market could see more firms turn to shareholders for funding given the rising cost of debt and changing outlook," he added. ($1 = 0.9517 euros)Reporting by Pablo Mayo Cerqueiro and Oliver Hirt; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Canada exports rose in October helped by weak dollar
▼ + stars: | 2022-12-06 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

Exports rose 1.5%, helped by higher exports of medicinal products as well as gold bars and coins to the United States, Statscan said. "Canada's merchandise trade surplus widened in October, with a weaker Canadian dollar providing a helping hand. When expressed in U.S. dollars, Canadian exports were down 1.3% in October, and imports decreased 2.2%, Statscan said. Exports of farm, fishing and intermediate food products rose 10.2% in October to a record-high C$5.5 billion, helped by canola and wheat. The Canadian dollar was trading at 1.3625 to the greenback, or 73.39 U.S. cents, down 0.3% on the day.

☆ Russia to sell discounted crude to Pakistan -minister
▼ + stars: | 2022-12-05 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

ISLAMABAD, Dec 5 (Reuters) - Russia will sell crude oil to Pakistan at a discounted price, Pakistan's state minister for petroleum said on Monday, days after he led a government team to Moscow to negotiate the deal. Russia will also supply discounted petrol and diesel to Pakistan, Musaddiq Malik told a news briefing in Islamabad. He did not specify the price of the discounted Russian oil or say whether the imports would comply with a $60 per barrel cap imposed by the G7 rich nations and the EU on Russian seaborne oil from this week over Russia's invasion of Ukraine. Local media has also reported that oil supplies remain tenuous owing to difficulties in paying for imports. Moscow and Islamabad have also long been working on a gas pipeline project with not much success.

☆ 'Immoral' for Hungary to hold up EU financing deal for Ukraine -Lithuania
▼ + stars: | 2022-12-05 | by ( Jan Strupczewski | ) www.reuters.com time to read: +3 min

BRUSSELS, Dec 5 (Reuters) - It is "immoral" for Hungary to hold up a European Union deal on 2023 financing for Ukraine to extract approval for Budapest's recovery plan and billions from the EU budget, Lithuanian Finance Minister Gintare Skaiste told Reuters on Monday. Hungary has been blocking an EU plan to provide 18 billion euros next year in financial help to war-torn Ukraine through the EU budget, which would make disbursements regular and predictable, allowing the Kyiv administration to plan ahead. EU officials say that to remove its veto, one of the things Budapest wants is EU approval for its plan (RRP) to spend 5.8 billion euros from the EU post-pandemic recovery fund. Another thing Budapest may want, EU diplomats and officials say, is for EU finance ministers to freeze a smaller amount of EU funds for Hungary than the 7.5 billion recommended by the Commission last week. She said that if Hungary continued to bloc financing for Ukraine through the EU budget, other EU governments could agree to provide the money in some other way, like they did this year.

☆ Mexico to hike minimum wage by 20% in 2023, raising inflation worries
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Dec 1 (Reuters) - Mexico will raise the minimum wage by 20% next year after employers, labor representatives and the government reached an agreement, officials said on Thursday, although some critics warned the move could fuel inflation. The latest minimum wage increase was calculated taking inflation into account, particularly price increases for basic goods, Lopez Obrador told reporters, playing down inflation concerns. Gabriela Siller, an economist at Banco BASE, pointed to three reasons why she believes the planned wage increase will pressure inflation further, even if some salary hike was already baked into inflation forecasts. Luis Munguia, head of Mexico's National Minimum Wage Commission (CONASAMI), said prices are expected to stay virtually flat because labor costs are already low in Mexico. Salaries in Mexico remain far below U.S. levels, where the federal minimum wage stands at $7.25 an hour.

☆ Ukraine says Russia 'distracting' air defences with dud nuclear-capable missiles
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

KYIV, Dec 1 (Reuters) - Ukraine's military said on Thursday it had found fragments of Russian-fired nuclear-capable missiles with dud warheads in west Ukraine, and that their apparent purpose was to distract air defences. It is primarily intended to carry nuclear warheads and to be launched from bomber aircraft. Danyliuk said the missiles were fitted with non-explosive warheads, one of which was exhibited on the stage of the briefing centre in Kyiv where he was speaking. "This is evidenced by... the impact of a Kh-55 missile into a residential building," he said. Danyliuk also said that all the Kh-55 missiles that had been discovered had their serial numbers scratched out.

☆ Exclusive: India to offer incentives to boost shipbuilding industry - sources
▼ + stars: | 2022-12-01 | by ( Manoj Kumar | ) www.reuters.com time to read: +3 min

NEW DELHI, Dec 1(Reuters) - India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry, two government sources said, as part of an effort to reduce the pain of high freight rates for the nation's manufacturers. RISK TO EXPANDING TRADEThe Federation of Indian Export Organisations (FIEO) and the shipbuilding industry have sought the concessions, arguing that India needs to build its shipping industry due to growing risks of expanding trade with sanctions-hit Russia. India could save at least $25 billion annually in foreign exchange if government incentives helped private companies to develop the local shipping industry, he added. India has around 35 shipbuilding companies, including some state-owned firms. Its maritime freight industry consists of about 1,500 vessels with a gross tonnage capacity of around 13 million tonnes.

Companies Us Justice Department FollowWASHINGTON, Dec 1 (Reuters) - The U.S. Justice Department is considering new guidance for corporations on employees' use of messaging applications and personal devices, as widespread use can thwart compliance and investigations. Currently, the Justice Department considers whether companies that allow use of disappearing messaging apps are regularly examining their compliance on records retention. The U.S. Securities and Exchange Commission (SEC) separately has been scrutinizing how Wall Street firms are handling work-related communications on personal devices and apps such as WhatsApp. The Justice Department is also considering whether it needs to offer more guidance on how prosecutors weigh a company's executive clawback policies in investigations into corporate misconduct, Argentieri said. The Justice Department under President Joe Biden has already detailed a number of policy changes aimed at more aggressive policing of corporate wrongdoing.

☆ Honda to develop advanced level 3 self-driving technology by 2029
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Honda Motor Co. Ltd's all-new Legend sedan, equipped with level 3 autonomous driving technology, is displayed during an unveiling in Tokyo, Japan March 4, 2021. Honda Motor Co Ltd in March 2021 became the world's first carmaker to sell a vehicle with level 3 self-driving technology. Shikama declined to say how soon Honda would start mass-producing its level 3 self-driving vehicles. When the Japanese carmaker launched its Legend sedan with level 3 automation technology last year, production was limited to 100 units. Among its rivals, Mercedes-Benz (MBGn.DE) late last year won approval from Germany's KBA car watchdog for its level 3 driving system.

LONDON, Nov 30 (Reuters) - A member of the British royal family's household has left her role after making "unacceptable and deeply regrettable" comments about race and nationality to a woman at a grand reception at Buckingham Palace, a spokesperson said on Wednesday. Ngozi Fulani, who was born in Britain and works for a domestic abuse support group, wrote on Twitter that the royal aide had repeatedly asked her: "What part of Africa are you from?" In this instance, unacceptable and deeply regrettable comments have been made," a Buckingham Palace spokesperson said in a statement. Last year, a senior royal source said Buckingham Palace had not done enough on diversity, although it has been endeavouring to boost the number of staff from ethnic minorities. "We have reached out to Ngozi Fulani on this matter, and are inviting her to discuss all elements of her experience in person if she wishes," the palace spokesperson said.

☆ U.S. deeply concerned about Whelan, American jailed in Russia -White House
▼ + stars: | 2022-11-30 | by ( Doina Chiacu | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 30 (Reuters) - The United States is "deeply concerned" about detained American Paul Whelan in Russia, and has not been able to get information from Moscow on his whereabouts or condition, White House national security spokesman John Kirby said on Wednesday. U.S. diplomats in Moscow were working to get details on what was going on with Whelan, Kirby said. "But yes, we are deeply concerned about the lack of information and the lack of contact from Paul," he added. It's highly unusual," David Whelan said. When transferred to the prison's hospital in the past, his brother had always mentioned the move in his phone calls, David Whelan said.

☆ NATO concerned about China's 'opaque' military buildup -Blinken
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. Secretary of State Antony Blinken looks on during a news conference at the NATO foreign ministers' meeting in Bucharest, Romania, November 30, 2022. REUTERS/Stoyan Nenov/File PhotoBUCHAREST, Nov 30 (Reuters) - NATO allies are concerned about China's rapid and opaque military buildup and its cooperation with Russia, and discussed concrete ways to address the challenges posed by Beijing on Wednesday, said U.S. Secretary of State Antony Blinken. "The members of our alliance remain concerned by the PRC's (People's Republic of China) coercive policies, by its use of disinformation, by its rapid, opaque military buildup, including its cooperation with Russia," Blinken told a news conference after a two-day meeting of foreign ministers from the Western defense alliance. While NATO continues to be focused on maintaining unified support for Ukraine, members also want to boost the alliance's resilience by considering new challenges, including those posed by China, Blinken said. "But there's also a recognition that wherever possible, we have to find ways to cooperate on the really big issues."

Summary poll dataBUENOS AIRES/MEXICO CITY, Nov 29 (Reuters) - Brazil stocks will rally by double-digits through end-2023, despite uncertainty about new government policies as President-elect Luiz Inacio Lula da Silva seeks to balance social priorities and budget constraints, a Reuters poll predicted. The benchmark Bovespa stock index (.BVSP) is set to rally 13% by end-2023 to 123,250 points from 108,976 points on Friday, according to the median estimate of 11 strategists polled Nov. 14-23. The Ibovespa (index) is still at a discount, awaiting government news," said Fernando Bresciani, research analyst at Andbank. Members of his transition group have voiced contrasting opinions on 2023 budget talks and the leadership race for the Inter-American Development Bank (IDB). Private economists in a central bank weekly poll projected an expansion rate of just 0.7%.

WASHINGTON, Nov 29 (Reuters) - China will likely have a stockpile of 1,500 nuclear warheads by 2035 if it continues with its current nuclear buildup pace, according to a report released by the Pentagon on Tuesday. The figure underscores mounting U.S. concerns about China's intentions for its expanding nuclear arsenal, even though the projections do not suggest China is accelerating the pace of its already-brisk warhead development. The report, which primarily covers activities in 2021, said China currently has a nuclear stockpile of more than 400 warheads. The Pentagon's projection for China's nuclear arsenal of 1,000 warheads by 2030 remained unchanged, the official said, adding the projection for 2035 was based on an unchanged pace of expansion. The United States has a stockpile of about 3,700 nuclear warheads, of which roughly 1,740 were deployed, according to the Stockholm International Peace Research Institute (SIPRI) think-tank.

Sales over the two most recent weeks totalled 149 million barrels, the fastest rate since early March, in the immediate aftermath of Russia’s invasion of Ukraine. Similar to the week before, last week’s selling was concentrated in crude (-89 million barrels), specifically in Brent (-71 million barrels). Two-week crude sales totalled 137 million barrels, with Brent totalling 100 million barrels, according to position records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. The number of crude positions, WTI as well as Brent, fell to just 306 million barrels (9th percentile for all weeks since 2013) down from 443 million barrels (40th percentile) on Nov. 8. The ratio of bullish long positions to bearish short ones fell to 3.28:1 (27th percentile) from 5.36:1 (62nd percentile) two weeks earlier.

☆ ECB warns of losses as it pays price for decade of money printing
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +3 min

This might eventually force some of these central banks to seek a bailout that would raise questions about their independence and raise the ire of taxpayers. On top of depleting its provisions, it might tap any income that national central banks make on their monetary policy operations - such as bonds and loans. Central banks can generally function even if they make losses that deplete all of their capital - as has happened in recent decades in a number of countries including Germany. "It is important to remember that central banks are not like ordinary companies: they can lose money and still operate effectively," the ECB said. "Still, the principle of financial independence implies that national central banks should ultimately always be sufficiently capitalised."

☆ Stowaways on tanker from Nigeria set for deportation from Spain
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +3 min

LAS PALMAS, Nov 29 (Reuters) - Two of three stowaways who were rescued in Spain's Canary Islands after enduring 11 days on the rudder of a fuel tanker from Nigeria have been returned to the ship with the aim of deporting them. In a photograph on Twitter by the Spanish coast guard on Monday, the three stowaways are shown hunkered on the rudder under the hull, just above the waterline of the Alithini II. The ship's captain confirmed to the Red Cross that it had sailed from Nigeria 11 days earlier. The stowaways were treated for moderate dehydration and hypothermia, the Canary Islands emergency services and the Red Cross said. The Spanish-owned Canary Islands are a popular but dangerous gateway for African migrants attempting to reach Europe.

Search resuls for: "Bernadette Baum"

25 mentions found