DIRS.INFO The most relevant business & tech news

Reuters Graphics Reuters GraphicsMonth-to-month inflation numbers "will inevitably hop around," wrote Pantheon Macroeconomics Chief Economist Ian Shepherdson, who sees underlying consumer inflation nevertheless slowing to a "benign" level of below 3% by early next year. Since their meeting in July, only two Fed policymakers have said they felt rates do not need to rise further, while others noted their outlook for slowing inflation was built around a slightly higher federal funds rate. Overall bank credit has been falling on a year-over-year basis since mid-July, evidence of financial firms tightening access either through higher rates or stricter standards. By and large Fed officials feel the economy can grow about 1.8% a year with inflation at the 2% target and assuming "appropriate monetary policy." The outlook has diminished prospects for a U.S. recession, but may well keep Fed concerns about high - or higher - inflation alive.

Persons: Jessica Rinaldi, Ian Shepherdson, Jerome Powell, Powell, Torsten Slok, Goldman Sachs, Steven Blitz, Howard Schneider, Dan Burns, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, Reuters Graphics Reuters, Investors, Apollo Global Management, Lombard Chief U.S, Fed, Thomson Locations: Flushing , New York, U.S

☆ 11-inning loss to Angels knocks M's from playoff position
▼ + stars: | 2023-09-12 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

[1/82] Sep 11, 2023; Seattle, Washington, USA; Seattle Mariners center fielder Julio Rodriguez (44) hits a single against the Los Angeles Angels during the first inning at T-Mobile Park. Mandatory Credit: Steven Bisig-USA TODAY Sports Acquire Licensing RightsSeptember 12 - Randal Grichuk singled home the go-ahead run in the 11th inning as the Los Angeles Angels won 8-5 against host Seattle on Monday, knocking the Mariners out of a playoff position. Grichuk then lined a single to center to put Los Angeles ahead. The Mariners scored three runs off Angels left-hander Reid Detmers in the first inning. Angels designated hitter Shohei Ohtani was scratched from the lineup and missed his eighth consecutive game with a strained right oblique.

Persons: Julio Rodriguez, Steven Bisig, Randal Grichuk, Logan O'Hoppe, Brandon Drury, Cal Raleigh, Eduardo Escobar, Trent Thornton, Grichuk, Eugenio Suarez, Nolan Schanuel, Jose Marte, Jimmy Herget, Drury, Rodriguez, Reid Detmers, J.P . Crawford, Teoscar Hernandez, Jordyn Adams, Logan Gilbert, Mike Moustakas, O'Hoppe, Detmers, Gilbert, Shohei Ohtani Organizations: Seattle Mariners, Los Angeles Angels, Mobile, Seattle, Mariners, Angels, Cal, Texas Rangers, Houston Astros, AL, Kyren Paris, The Mariners, Raleigh, Thomson Locations: Seattle , Washington, USA, Seattle, Paris, Los Angeles

☆ Ozempic, Wegovy may curb drinking, smoking and other addictive behaviors – here's what we know
▼ + stars: | 2023-09-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Jaap Arriens | Nurphoto | Getty ImagesHeather Le Biller shed 9 pounds within the first week of taking Novo Nordisk 's blockbuster diabetes drug Ozempic – and then even more as she continued treatment. That means it could take years before the Food and Drug Administration and other regulators worldwide approve drugs like Ozempic and Wegovy as addiction treatments. Jerlhag and her colleagues at the University of Gothenburg in Sweden have studied the effect of GLP-1s on addictive behaviors for more than a decade. "The mechanism in the brain that regulates overeating is important in regulating addictive behaviors as well," Leggio told CNBC. Still, NIDA's Leggio advises against using GLP-1s off-label to reduce addictive behaviors, "simply because there's not enough evidence in humans that they work."

Persons: Jaap Arriens, Heather Le Biller, Ozempic –, Le Biller, they're, Angela Fitch, Brandon Bell, Dr, Lorenzo Leggio, semaglutide, –, Eli Lilly, pharmacologist, Jerlhag, George Frey, NIDA's, Leggio, Steven Batash, Batash, NIDA's Leggio Organizations: Nurphoto, Novo Nordisk, CNBC, Wegovy, Obesity Medicine Association, and Drug Administration, Pharma, National Institute on Drug, University of Gothenburg, Company, Reuters, Brigade, Getty Locations: Riga, Latvia, France, Ozempic, Novo, U.S, Italian, Austin , Texas, Sweden, Provo , Utah, Queens , New York

☆ Asia Development Bank discusses the implications of an expanding gap in global trade finance
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsia Development Bank discusses the implications of an expanding gap in global trade financeTighter credit due to higher interest rates is a major barrier to trade finance, says Steven Beck, Asia Development Bank's head of trade finance.

Persons: Steven Beck Organizations: Asia Development Bank Locations: Asia

A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Catalent named three pharma industry executives and a senior Elliott executive to its board and said John Greisch, who has served on the board since 2018, will become executive chairman. Elliott, whose stake in Catalent became public last month, has been engaging with the company behind the scenes for months. Two of the directors were picked by Elliott, while two were mutually agreed by Elliott and Catalent. Catalent is also forming a new strategic and operational review committee which Greisch will chair.

Persons: Yves Herman, Elliott, Catalent, Alessandro Maselli, John Greisch, Max, William Blair, Maselli, Steven Barg, Goldman Sachs, Frank D'Amelio, Stephanie Okey, Michelle Ryan, Greisch, Merck KGaA, Svea Herbst, Bayliss, Maggie Fick, Sriparna Roy, Shinjini Ganguli, Catherine Evans, Mike Harrison Organizations: REUTERS, Catalent Inc, Elliott Investment Management, Reuters, Novo, pharma, U.S . Food, Drug Administration, Pfizer, Johnson, Catalent, Svea, Thomson Locations: Brussels, Belgium, ., Danish, Novo, United States, Catalent, GLP, Boston, London, Bengaluru

☆ Bryan Woo leads Mariners to shutout of A's
▼ + stars: | 2023-08-29 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/50] Aug 28, 2023; Seattle, Washington, USA; Oakland Athletics second baseman Zack Gelof (20) slides past Seattle Mariners shortstop J.P. Crawford (3) to steal second base during the first inning at T-Mobile Park. Mandatory Credit: Steven Bisig-USA TODAY Sports Acquire Licensing RightsAugust 29 - J.P. Crawford and Julio Rodriguez hit home runs and rookie Bryan Woo pitched six scoreless innings as the Seattle Mariners defeated the visiting Oakland Athletics 7-0 on Monday. The Mariners' Tayler Saucedo, Isaiah Campbell and Trent Thornton combined for three innings of one-hit relief to complete the shutout. It was the second time in the past four days that Crawford went deep to open a game. The Mariners added three runs in the third.

Persons: Zack Gelof, J.P, Crawford, Steven Bisig, Julio Rodriguez, Bryan Woo, Rodriguez, Tayler Saucedo, Isaiah Campbell, Trent Thornton, Kyle Muller, Eugenio Suarez, Teoscar Hernandez, Ty France's, Dylan Moore's, Muller Organizations: Oakland Athletics, Seattle Mariners, Mobile, Mariners, American League West, Texas Rangers, Houston Astros, Seattle, Oakland, Thomson Locations: Seattle , Washington, USA

☆ Surging bond yields add to pressure for Powell's big speech Friday
▼ + stars: | 2023-08-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

All eyes will be trained on the central bank leader when he makes his annual address Friday in Jackson Hole, Wyoming. "Powell will need to choose whether to accept or push back against the 'higher-for-longer' narrative at Jackson Hole on Friday." Bond yields are a helpful guide to inflation as they represent a measure of where markets think growth, policy and prices are heading. That has come with one quarter-point Fed rate increase along with rising expectations that the economy may be able to avoid a much-predicted recession. This year's Jackson Hole symposium topic is "Structural Shifts in the Global Economy."

Persons: Jerome Powell, Powell, Andrew Hollenhorst, Jackson, Hollenhorst, Steven Blitz Organizations: Federal, Kansas City, Citigroup, Fed, TS Lombard Locations: Jackson Hole , Wyoming, Kansas

☆ Elon Musk seemed to have 'bought what Putin was selling, hook, line, and sinker,' fellow PayPal mafia member says
▼ + stars: | 2023-08-21 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

He said Musk "bought what Putin was selling, hook, line, and sinker" regarding the war in Ukraine. Hoffman told The New Yorker Musk "bought what Putin was selling, hook, line, and sinker," regarding Russian President Vladimir Putin's account of the war in Ukraine. Putin wants peace—we should be negotiating peace with Putin,'" Hoffman told The New Yorker, referencing Musk's comments at a September 2022 conference in Aspen. Obviously, we are pro Ukraine," Musk tweeted hours after his poll. "Elon tends to have a 'I must build it with my own hands'" approach, Hoffman told CNBC in April.

Persons: Reid Hoffman, Elon Musk, Putin, Musk, Hoffman, Vladimir Putin's, he'd, Vladimir, Steven Butow, Starlink, we'll, Colin Kahl, Elon —, —, Elon Organizations: Paypal Mafia, New, PayPal, Kremlin, SpaceX, Politico, Pentagon, CNN, Defense, Policy, New Yorker, Milken, CNBC, Tesla Locations: Ukraine, Aspen ., Russia, Crimea, Ukrainian, New

Senator Dianne Feinstein (D-CA) attends a Senate Judiciary Committee executive business meeting to vote on legislation and pending nominations before the committee, on Capitol Hill in Washington, U.S., May 11, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Aug 15 (Reuters) - U.S. Democratic Senator Dianne Feinstein has filed a lawsuit alleging financial elder abuse and breach of trust by the trustees of her late husband's estate, with the legal filing seeking their removal over the alleged wrongdoing. The lawsuit alleges that the trustees committed "financial abuse" of Feinstein by "wrongfully withholding distributions to which (her late husband's) trust entitles her in bad faith and diverting assets that they should have used to fund" the senator's trust. The attorney added: "The trustees have always respected Senator Feinstein and always will. First elected to the Senate in 1992, Feinstein has said she will not seek re-election in 2024.

Persons: Dianne Feinstein, Kevin Lamarque, Katherine Feinstein, Feinstein, Richard Blum, Steven Braccini, Michael Klein, Marc Scholvinck, Kanishka Singh, Sandra Maler Organizations: Capitol, REUTERS, Rights, Democratic, California Superior Court, Democrats, Senate, San Francisco Chronicle, Committee, Thomson Locations: Washington , U.S, California, County, San Francisco, Washington

☆ Opinion | Should Trump’s Jan. 6 Trial Be Televised?
▼ + stars: | 2023-08-11 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Let the World See the Jan. 6 Trial,” by Steven Brill (Opinion guest essay, Aug. 7):If you put a live camera in the courtroom with Donald Trump, you will give him exactly what he wants. The trial will very quickly spin out of control, and that is exactly what Mr. Trump wants. You will never convince Mr. Trump’s die-hards that he got a fair trial. Conduct a normal untelevised trial and prepare for violence if Mr. Trump is convicted. The pending trial of Donald Trump on charges related to the 2020 election will be, far and away, the most important court proceeding of our lifetimes.

Persons: Steven Brill, Donald Trump, Trump, Trump’s, Bruce Higgins Organizations: Bruce Higgins San Diego

☆ The tech exec who is spending $2 million a year to reduce his biological age used to drink alcohol for breakfast
▼ + stars: | 2023-08-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Tech entrepreneur Bryan Johnson said he used to drink 3 ounces of wine for breakfast. The biotech founder takes 111 supplements a day in order to help reverse his biological age. Tech entrepreneur Bryan Johnson revealed that he used to drink 3 ounces of alcohol every morning. "Then I got rid of it because it was too expensive from a calorie perspective," Johnson told the podcast host Steven Bartlett. The 45-year-old previously said he has a "biological age" of 37, thanks to the anti-aging program Project Blueprint that he created.

Persons: Bryan Johnson, Johnson, Steven Bartlett, Bartlett, Oliver Zolman Organizations: Tech

☆ Steve Brill: The Trump Trials Should Be Televised - The New York Times
▼ + stars: | 2023-08-05 | by ( Steven Brill | ) www.nytimes.com time to read: +1 min

The only issue that Americans on all sides of our vast political divide seem to agree on is that we cannot agree on anything. Even basic facts have become matters of opinion. But polls indicate that about one-fifth of all Americans believe the microchip conspiracy theory to be true or are unsure whether it is true. It is a fact that Hunter Biden’s laptop was real, not part of a Russian disinformation campaign. In the work I do looking at the reliability of online news and information, I can see that the erosion of trust in basic facts is largely the result of too many people getting their news from social media platforms.

Persons: Bill Gates, Hunter Organizations: New York Times

☆ Here's what to expect from the Federal Reserve meeting Wednesday
▼ + stars: | 2023-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON, DC - JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty ImagesDespite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. But apparently the folks at the Fed think they need one more at least." Likewise, Steven Blitz, chief U.S. economist at Globaldata.TSLombard, said a "dovish hike and talk of soft landings" at Wednesday's meeting would be a mistake for the Fed.

Persons: Jerome Powell, Powell, Win Mcnamee, they've, Kathy Jones, Charles Schwab, Jones, —, haven't, Luke Tilley, that'll, " Tilley, I'm, Andrew Hollenhorst, Steven Blitz Organizations: Federal, Financial, Getty, Federal Reserve, Investors, Open Market, Dow Jones, Investment Advisors, Citigroup Locations: WASHINGTON, DC, Washington ,, Central, —, Wilmington, U.S

SummarySummary CompaniesCompanies Law Firms Realtek said MediaTek used patent lawsuits to stifle businessAccused chipmaking rival of antitrust violationsJune 6 (Reuters) - Realtek Semiconductor Corp (2379.TW) sued rival Taiwanese chipmaker MediaTek Inc (2454.TW) in Northern California federal court on Tuesday, claiming MediaTek paid a company that sues over patents a "secret litigation bounty" to file meritless lawsuits in the United States to disrupt its business. Realtek said MediaTek signed a patent licensing agreement with IPValue subsidiary Future Link Systems LLC in 2019 that included the secret "bounty" agreement. Realtek said Future Link has kept details of the agreement "buried under confidentiality obligations and protective orders." Future Link settled several other patent cases against tech companies including MediaTek competitor Amlogic soon after the ITC criticized it, Realtek said. The case is Realtek Semiconductor Corp v. MediaTek Inc, U.S. District Court for the Northern District of California, No.

Persons: Realtek, MediaTek, IPValue, Amlogic, Rudy Kim, Michael Murray, Nafeesah, Paul Hastings, Steven Baik, Blake Brittain Organizations: Realtek Semiconductor Corp, MediaTek, IPValue Management Inc, Link Systems, U.S . International Trade Commission, ITC, MediaTek Inc, Northern, Northern District of, White, Thomson Locations: Northern California, United States, West Texas, Northern District, Northern District of California, Washington

☆ A former Google exec warned about the dangers of AI saying it is 'beyond an emergency' and 'bigger than climate change'
▼ + stars: | 2023-06-01 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Mo Gawdat, a former top Google employee, said AI is a bigger emergency than climate change. Gawdat appeared in an episode of The Diary of a CEO podcast with Steven Bartlett to discuss AI. A former Google officer has weighed in on the debate around AI and warned that it is a bigger emergency than climate change, in an an episode of The Diary of a CEO podcast released Thursday. "It is beyond an emergency," Gawdat told Bartlett in the podcast. It's bigger than climate change believe it or not."

Persons: Mo Gawdat, Gawdat, Steven Bartlett, —, Bartlett, Elon Musk, Steve Wozniak, Emad Mostaque, OpenAI's chatbot ChatGPT, Sundar Pichai Organizations: Google, Elon, Apple, Financial Times

☆ U.S. recession might still happen in mid-2023, says TS Lombard economist
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. recession might still happen in mid-2023, says TS Lombard economistSteven Blitz, U.S. economist at TS Lombard, discusses the latest developments surrounding the debt ceiling deal.

Persons: Steven Blitz Organizations: U.S, TS Lombard

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

☆ Steven Berghuis: Ajax midfielder sorry for lashing out at fan
▼ + stars: | 2023-05-29 | by ( ) edition.cnn.com time to read: +1 min

Reuters —Ajax Amsterdam midfielder Steven Berghuis has apologized after he appeared to strike a fan following their 3-1 loss at FC Twente on Sunday that ended their dire season on a low note. In a video circulating on social media, Berghuis is seen lashing out at what appears to be a Twente supporter in front of the Ajax team bus before an official intervened. “I regret my actions, I should not have done this,” the 31-year-old Berghuis said in a statement. Ajax finished the current campaign in third place in the Eredivisie, outside the two Champions League qualification spots for the first time since 2009. Ajax qualified for the Europa League playoff round.

☆ US House Republicans blast EPA refusal to appear at EV hearing
▼ + stars: | 2023-05-16 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A spokesperson for the House Oversight Republican majority said "the EPA’s excuse for not appearing before this week’s subcommittee hearing is devoid of logic" noting EPA Administrator Michael Regan's recent testimony. Last month, the EPA proposed sharp emissions cuts that it estimates would result in 60% of new vehicles by 2030 being electric and 67% by 2032. EPA said the requested witnesses had previously scheduled meetings with lawmakers and others Wednesday preventing their participation and because the proposed rules "are currently open for public comment." The National Highway Traffic Safety Administration (NHTSA) has not yet new proposed fuel economy standards. Last week, an auto trade group warned the EPA proposal may rely on a too rapid transition to EVs and poses significant challenges.

☆ Everyone knows Siri is way behind. It's partly why top Apple engineers have jumped ship to Google, report says.
▼ + stars: | 2023-04-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Apple is having a hard time convincing workers that Siri can keep up with new AI rivals. Apple lost three top engineers working on AI technology to Google, The Information reported. It's the latest example of how far behind Apple is seen to be on AI versus Google and OpenAI. Apple has lost three top engineers working on ChatGPT-like technology to Google, in a sign the iPhone-maker is struggling to supercharge its AI efforts and Siri as large language models go mainstream. They were personally poached by Google CEO Sundar Pichai after shunning Apple boss Tim Cook's efforts to keep them, the report said.

☆ The banking crisis is having a slow-burn impact on the economy
▼ + stars: | 2023-04-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

That's a credit hit on Middle America, on Main Street," said Steven Blitz, chief U.S. economist at TS Lombard. Watching growth aheadIn the immediate future, the reading on first-quarter economic growth is expected to be largely positive despite the banking problems. In fact, the most recent recession was just two years ago in the early days of the Covid crisis. Consumer spending has seemed to hold up fairly well in the face of the banking crisis, with Citigroup estimating excess savings of about $1 trillion still available. [The banking situation] is a headwind, but it's not a gale-force headwind, it's just kind of a nuisance."

Persons: Spencer Platt, Steven Blitz, Stocks, Robert Sockin, it's, Dow Jones, isn't, It's, Moody's, Mark Zandi, headwind, Covid, Jim Baird, Plante, Baird Organizations: New York Stock Exchange, Getty, JPMorgan Chase, Bank of America, TS Lombard, First, Bank, P Bank ETF, Citigroup, Commerce Department, Silicon Valley Bank, Signature Bank, Moody's, Financial Advisors Locations: New York City, U.S, America, First Republic, Atlanta

☆ NHL roundup: Golden Knights defeat Jets in 2OT
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +4 min

It was his first career playoff goal. Laurent Brossoit finished with 30 saves for the Golden Knights, who won their 22nd straight playoff game when scoring at least three goals in a game despite blowing a 4-1 lead in the third period. Kyle Connor had a goal and one assist, and Nino Niederreiter, Mark Scheifele and Adam Lowry each scored during the third-period comeback for Winnipeg. The Jets lost All-Star defenseman Josh Morrissey to a lower-body injury after two shifts in the first period following a knee-to-knee collision with Zach Whitecloud. Jaden Schwartz scored twice for Seattle, while Jamie Oleksiak and Matty Beniers also tallied in the franchise's first-ever home playoff game.

☆ Barbara Corcoran says she was fired before the first season of ‘Shark Tank’—she got her job back with a simple email
▼ + stars: | 2023-04-23 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Barbara Corcoran experienced every professional's worst nightmare: She landed her dream job, only to have the offer rescinded. It's unusual for job offers to get rescinded after you've signed on the dotted line, but not impossible. Last summer, amid fears of a looming recession, large companies like Coinbase, Twitter and Redfin took back job offers before a number of employees could log on for their first days. It was primarily a reaction to inflation, co-founder and CEO of the recruiting company WizeHire Sid Upadhyay told CNBC Make It last June. Upadhyay recommended asking your network for job leads, revisiting other job offers and getting in touch with former employers.

☆ China may hold lending benchmarks steady as recovery remains on track -analysts
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, April 19 (Reuters) - China is widely expected to stand pat on lending benchmarks at the monthly fixing on Thursday, a Reuters survey showed, as economic recovery has been well on track - as seen from better-than-expected first-quarter data. China's economy grew at a faster-than-expected pace in the first quarter, reducing the urgency for authorities to ease monetary policy to aid recovery, traders and economists said. The loan prime rate (LPR), which banks normally charge their best clients, is calculated each month after 18 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). In a poll of 30 market watchers, 27 predicted no change to either the one-year LPR or five-year tenor . The interest rate on medium-term lending facility (MLF) loans serves as a guide to the LPR.

☆ UPS and FedEx are clawing back ground from smaller package-delivery firms. Here's how the little guys plan to defend their share.
▼ + stars: | 2023-04-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Amazon, FedEx, UPS, and the postal service hold 97% of the US package delivery market. Smaller delivery companies were major beneficiaries of the pandemic boom times for e-commerce. "There was a long runway for these delivery companies when FedEx and UPS didn't want your business," said Derek Lossing, an Amazon Logistics alum who now advises investors. Smaller carriers are competing less with UPS and FedEx, and more with each other. UPS and FedEx will still be in the picture, but the smaller players can outperform them in some areas.

Search resuls for: "Steven B"

25 mentions found