DIRS.INFO The most relevant business & tech news

☆ The House Ethics Committee just released a damning report on George Santos finding that he 'brought severe discredit upon the House.'
▼ + stars: | 2023-11-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

The House Ethics Committee just released a report on its investigation into George Santos. AdvertisementThe House Ethics Committee finally released a report on its months-long investigation into Republican Rep. George Santos of New York on Thursday morning. "Representative Santos' conduct warrants public condemnation, is beneath the dignity of the office, and has brought severe discredit upon the House," the committee declared in a statement accompanying the report. The committee also released a much lengthier report compiled by an investigative subcommittee (ISC), along with hundreds of pages of additional evidence. Here's the 8-page report that the House Ethics Committee released:And here's the lengthier 56-page report from the investigative subcommittee:

Persons: George Santos, Here's, —, Santos, Anthony D'Esposito —, New York Republicans who's Organizations: Service, Republican Rep, Federal, Commission, ISC, Republicans, Democratic, Republican, New York Republicans Locations: George Santos of New York

WOODSIDE, Calif. (AP) — President Joe Biden and Chinese President Xi Jinping greeted each other with a warm handshake Wednesday as they met on the sidelines of the Asia-Pacific Economic Cooperative conference. The two leaders last spoke a year ago, and since then, already fraught ties between the nations have been further strained. Biden and Xi were speaking behind closed doors at the Filoli Historic House and Garden, which features a Georgian revival-style mansion and a formal, English Renaissance-style garden. The pair opened their face-to-face meeting in the San Francisco Bay area with a solid handshake. The two leaders made the comments Wednesday after shaking hands in their first face-to-face meeting in more than a year.

Persons: Joe Biden, Xi Jinping, Xi, Biden, Michael Douglas, Bourn, Roth, David Fincher’s, Douglas, ’ “ I’m, ”, “, haven’t, ” Biden, ” Xi, they’re, Wednesday's, Aamer Madhani Organizations: Pacific Economic Cooperative, APEC, Biden, Trust for Historic, Biden Biden, U.S, Moscone Center, Tibet, CCP, Chinese Communist Party, White, Xi, Associated Press Locations: WOODSIDE, Calif, Asia, East, Europe, Taiwan, China, Francisco, Woodside , California, San Francisco, United States, San Francisco Bay, Hong Kong, “ Tibet, Bali

☆ Hamas wants to wreck years of US efforts to mend Israel-Arab ties — and it looks like it's working
▼ + stars: | 2023-11-03 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Thursday Bahrain, one of the original signatories of the Trump-era Abraham Accords, said it would recall its ambassador to Israel. AdvertisementAdvertisement"Presumably there's a limit to how much carnage Israel can get away with before Arab countries pull out of the Abraham Accords. The UAE has reaffirmed its commitment to the Abraham Accords, reported the Jewish News Syndicate. But the longer Israel's campaign continues, and images and civilian deaths and devastation are broadcast around the world, the more public anger will build, putting huge pressure on Arab leaders to act.

Persons: —, Joe Biden, Donald Trump, Israel, Abraham, Giorgio Cafiero, Cafiero, Abraham Accords —, Biden Organizations: Saudi, Service, United Arab Emirates, Protesters, Thursday Bahrain, Trump, Abraham Accords, West Bank, Analytics, Abraham, Jewish News Syndicate, Orly Goldschmidt, CNN Locations: Israel, Gaza, UAE, Saudi Arabia, Bahrain, Egypt, Morocco, West, Gulf, Iran, Saudi

☆ Thursday, Nov. 2, 2023: Cramer says don't sell this retail holding after earnings and downgrades
▼ + stars: | 2023-11-02 | by ( Sean Conlon | ) www.cnbc.com time to read: 1 min

Thursday, Nov. 2, 2023: Cramer says don't sell this retail holding after earnings and downgradesJim and Jeff explain why they're cautioning against selling shares of this food and beverage retail holding after its earning beat led the stock to rise in morning trading. Jim also says not to trade this technology stock in the Trust ahead of the company's earnings results Thursday after the bell. Finally, Jim discusses why he thinks this pharmaceutical position is starting its next upward trend.

Persons: Cramer, Jim, Jeff

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Hedge fund billionaire Leon Cooperman, in rare public rebuke of a Republican candidate, says Trump ‘belongs in jail’
▼ + stars: | 2023-10-30 | by ( Lisa Emmanuel | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Leon Cooperman, the hedge fund billionaire who has famously clashed with Sen. Elizabeth Warren over her proposed wealth tax, is cautioning voters against returning Donald Trump to the White House. “It would be terrible for the country if Donald Trump were reelected,” Cooperman told CNN in a phone interview late last week. “He’s a divisive human being who belongs in jail.”It’s rare for a Wall Street figure to make such critical comments about Trump, at least publicly. The Biden campaign did not respond to a request for comment. Given the ongoing risks, Cooperman argued the stock market is overvalued relative to corporate profits.

Persons: New York CNN — Leon Cooperman, Sen, Elizabeth Warren, Donald Trump, ” Cooperman, “, Warren, Joe Biden, CNN he’s, Trump, Biden, Cooperman, ”, Republican Chris Christie’s, Steven Cheung, he’s, ” Cheung Organizations: New, New York CNN, CNN, Trump, Biden, Republican, Omega Advisors, Bank Locations: New York, Washington

☆ Bush-era diplomat joins elite chorus urging Israel not to launch a full-scale invasion of Gaza
▼ + stars: | 2023-10-28 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Writing in the Financial Times, former US diplomat Richard Haas urged Israel to rethink its Gaza war. Haas said Israel has the right to attack Hamas but destroying the group is "unlikely to prove doable." AdvertisementAdvertisementA former diplomat who served in the Bush administration and as president of the Council on Foreign Relations has joined a chorus of elite voices urging Israel against launching a full-scale ground invasion of the Gaza Strip. The Israeli government has repeatedly said a ground invasion is only a matter of time. AdvertisementAdvertisementA full-on ground war, Haas wrote, would "generate significant civilian casualties" and "allow Hamas to scapegoat Israel for its own shortcomings."

Persons: Richard Haas, Israel, Haas, Bush, —, Colin Powell, cautioning, Hass Organizations: Financial Times, Service, Foreign Relations, Washington Post Locations: Gaza, Iraq, United States, Northern Ireland, Israel, cautioning Israel, Saudi Arabia

WASHINGTON, Oct 25 (Reuters) - U.S. President Joe Biden said on Wednesday the Israel-Gaza crisis should have "a path to peace" including independent states for the Israelis and Palestinians and integrating Israel among its Arab neighbors. "Israelis and Palestinians equally deserve to live side by side in safety, dignity and in peace," said Biden. Biden said he believed one reason Hamas militants attacked southern Israel, killing 1,400 people on Oct. 7, was to prevent normalizing relations between Israel and Saudi Arabia. Biden said he had "no notion" that the Palestinians were telling the truth about how many had been killed. Biden, a self-described "Zionist", has strongly supported Israel following Hamas' Oct. 7 attack while cautioning the country to abide by democratic principles.

Persons: Joe Biden, Biden, Anthony Albanese, They're, Albanese, Leah Millis, Jeff Mason, Trevor Hunnicutt, Steve Holland, Susan Heavey, Tom Hogue, Heather Timmons, Josie Kao Organizations: Australian, Reuters, West Bank, AUSTRALIA, Albanese, White, REUTERS, U.S, Russia's, Pacific, Thomson Locations: Israel, Gaza, Saudi Arabia, Australia, Washington , U.S, Sydney, Washington, PHILIPPINES, China, Philippines, United States, U.S, Beijing, American, Taiwan, South China, Canberra, Japan

Former U.S. President Barack Obama speaks during the Sandy Hook Promise Benefit in New York City, U.S., December 6, 2022. In rare comments on an active foreign policy crisis, Obama said any Israeli military strategy that ignores the human costs of the war "could ultimately backfire." Israel has heavily bombarded Gaza with air strikes since Hamas' Oct. 7 assault on Israel left over 1,400 people dead. Obama condemned Hamas' attack and reiterated his support for Israel's right to defend itself, while cautioning about risks to civilians in such wars. Obama and Israeli Prime Minister Benjamin Netanyahu had a testy relationship when Obama was in office, including when Obama's administration was negotiating a nuclear deal with Iran.

Persons: Barack Obama, Sandy, David, Dee, Delgado, Obama, Joe Biden, Biden, Benjamin Netanyahu, Kanishka Singh, Matt Spetalnick, Arshad Mohammed, Jeff Mason, Kieran Murray, Stephen Coates Organizations: U.S, REUTERS, Rights, Hamas, Israel, Palestinian, Israeli, Thomson Locations: New York City, U.S, Gaza, Israel, Iran, Washington

☆ Obama Warns Some of Israel's Actions in Gaza May Backfire
▼ + stars: | 2023-10-23 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

By Kanishka SinghWASHINGTON (Reuters) - Some of Israel's actions in its war against Hamas, like cutting off food and water for Gaza, could "harden Palestinian attitudes for generations" and weaken international support for Israel, former U.S. President Barack Obama said on Monday. In rare comments on an active foreign policy crisis, Obama said any Israeli military strategy that ignores the human costs of the war "could ultimately backfire." Israel has heavily bombarded Gaza with air strikes since Hamas' Oct. 7 assault on Israel left over 1,400 people dead. Obama condemned Hamas' attack and reiterated his support for Israel's right to defend itself, while cautioning about risks to civilians in such wars. Obama and Israeli Prime Minister Benjamin Netanyahu had a testy relationship when Obama was in office, including when Obama's administration was negotiating a nuclear deal with Iran.

Persons: Kanishka Singh WASHINGTON, Barack Obama, Obama, Joe Biden, Biden, Benjamin Netanyahu, Kanishka Singh, Matt Spetalnick, Arshad Mohammed, Jeff Mason, Kieran Murray, Stephen Coates Organizations: Hamas, Israel, Palestinian, Israeli Locations: Gaza, Israel, Iran, Washington

☆ Climate Change Is Keeping Therapists Up at Night
▼ + stars: | 2023-10-21 | by ( Brooke Jarvis | ) www.nytimes.com time to read: +4 min

His clients didn’t just bring up the changing climate incidentally, or during disconcerting local reminders; rather, many were activists or scientists or people who specifically sought out Bryant because of their concerns about the climate crisis. According to a 2022 survey by Yale and George Mason University, a majority of Americans report that they spend time worrying about climate change. A poll by the American Psychiatric Association in the same year found that nearly half of Americans think climate change is already harming the nation’s mental health. Climate change, in other words, surrounds us with constant reminders of “ethical dilemmas and deep social criticism of modern society. In its essence, climate crisis questions the relationship of humans with nature and the meaning of being human in the Anthropocene.”

Persons: Bryant, Susan Clayton, Thomas J, Doherty, George Mason, ” Organizations: Climate Psychology Alliance North America, American Psychological Association, Yale, George, George Mason University, American Psychiatric Association, of Biology

☆ PNC Financial Services to cut jobs after quarterly profit drop
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 13 (Reuters) - PNC Financial Services Group (PNC.N) said on Friday it would reduce its workforce by about 4% as part of its cost reduction plans after it posted a drop in profit in the third quarter. Average deposits at Pittsburgh-based PNC were also down 3.8%, at $422.5 billion in the third quarter, compared to $439.2 billion for the same quarter last year. The lender earned a profit of $1.57 billion, or $3.60 per share, compared to $1.64 billion, or $3.78 per share, from a year earlier. The lender said it expects a drop of 1% to 2% for the fourth quarter in its net interest income (NII), compared to the current quarter this year. In the third quarter, it posted a drop of 1.6% in NII, to $3.4 billion, from the same quarter last year.

Persons: Brendan McDermid, Banks, Jaiveer Shekhawat, Pritam Biswas, Pooja Desai Organizations: PNC Financial Services Group Inc, New York Stock Exchange, REUTERS, PNC Financial Services, PNC, Analysts, Signature Bridge Bank, Federal Deposit Insurance Corp, Thomson Locations: New York City, U.S, Pittsburgh, NII, Bengaluru

☆ PNC Financial to cut jobs after profit drops, revenue misses estimates
▼ + stars: | 2023-10-13 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +2 min

[1/2] A person walks past a branch of PNC Bank, a subsidiary of PNC Financial Services Group, in Washington, U.S. April 30, 2023. REUTERS/Ashraf Fahim/File Photo Acquire Licensing RightsOct 13 (Reuters) - PNC Financial Services Group (PNC.N) said on Friday it has started reducing its staff by about 4% as part of a cost-cut initiative after the U.S. lender's third-quarter profit declined and revenue missed estimates. Average deposits at the bank fell 3.8%, to $422.5 billion. PNC posted a profit of $3.60 per share, compared to analysts' estimate of a profit of $3.11 per share, according to LSEG IBES data. Its third-quarter NII fell 1.6% from a year earlier.

Persons: Ashraf Fahim, Timothy Coffey, Janney Montgomery Scott, Scott, Jaiveer Shekhawat, Pritam Biswas, Pooja Desai, Sriraj Kalluvila, Vinay Dwivedi Organizations: PNC Bank, PNC Financial Services Group, REUTERS, PNC Financial Services, U.S, PNC, Thomson Locations: Washington , U.S, Pittsburgh, Bengaluru

☆ Wall St bonuses may drop 16% as higher rates threaten businesses - NY Comptroller
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 12 (Reuters) - Wall Street bonuses could fall 16% this year as interest rates possibly staying higher for longer threatens the performance of financial companies, according to New York State Comptroller Thomas DiNapoli. The drop, however, would be less sharp than last year's 26% decline that shrank bonuses to $176,700 on average. While higher-for-longer rates could impede business activity, some experts have predicted the central bank would manage to guide the economy to a soft landing. Reporting by Niket Nishant in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas DiNapoli, DiNapoli, Goldman Sachs, Morgan Stanley, Niket, Vinay Dwivedi Organizations: New York Stock, REUTERS, New York, Federal, Securities, Thomson Locations: Manhattan, New York City , New York, U.S, New York City, Bengaluru

☆ Hamas launched a 'surprise' attack on Israel, but for Netanyahu's critics, the writing was on the wall for months
▼ + stars: | 2023-10-07 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +5 min

Hamas launched a surprise attack on Israel, killing at least 70 people. Critics have long been warning of a security lapse as a result of internal civil unrest in Israel. They warned that protests linked to judicial reforms were impacting Israeli national security. Netanyahu's judicial reforms, which were proposed in January and eventually passed in July, seek to limit the Supreme Court's power to exercise judicial review and declare legislation unconstitutional. "This is a clear, immediate, and real danger to Israel's security," Gallant said at the time.

Persons: —, Benjamin Netanyahu's, Yuval Sade, Calcalist, disdainfully, Israel, Netanyahu, Yair Lapid, Tamir Pardo, We've, Tomer Bar, Yoav Gallant, Gallant Organizations: Hamas, Service, IDF, PLO, Israel, Shin, Los Angeles Times, Israeli Air Force Locations: Israel, Iran

☆ Denver experimented with giving people $1,000 a month. It reduced homelessness and increased full-time employment, a study found.
▼ + stars: | 2023-10-05 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +6 min

Direct cash assistance reduced homelessness and increased employment in Denver, a study found. "Many participants reported that they have used the money to pay off debt, repair their car, secure housing, and enroll in a course," he said. Six months in, most who received money from the project were better off — significantly so, according to researchers at the University of Denver's Center for Housing and Homelessness Research. And the study also relied on participants self-reporting their situations in exchange for payments of up to $30. Smaller cities, such as Santa Fe, have also experimented with cash payments, as have rural areas, including upstate New York.

Persons: —, Mark Donovan, Donovan, Zhao Organizations: Denver, Service, Income, Wooden, Pew Charitable Trust, University of Denver's Center for Housing, Homelessness Research, University of British, Guardian Locations: Denver, Tesla, Sacramento, Jacksonville, San Francisco, Santa Fe, New York, Philadelphia, United States, Vancouver, Canada, University of British Columbia

☆ The US housing market is starting to flash a few rays of sunshine for homebuyers
▼ + stars: | 2023-09-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The US housing market is starting to flash a few rays of sunshine for prospective homebuyers. It comes as the housing market has been stuck, with sales activity stalling as high rates discourage buying and selling. In fact, the situation is so bad that Redfin CEO Glenn Kelman recently declared the market has hit "rock bottom." More precisely, the 30-year mortgage rate hit the highest level in 23 years, climbing further above 7%. In the existing home market, sellers are growing open to negotiating about the asking price, or offering concessions, like funding home repairs or a mortgage-rate buydown.

Persons: —, Glenn Kelman, Altos, Redfin, David Palmer Organizations: Altos Research, Service

Birkenstock believes it can obtain the final sign-off from the U.S. Securities and Exchange Commission even during a shutdown when the financial regulator would operate with only essential staff, the sources said. SEC Chair Gary Gensler said on Wednesday that a shutdown would reduce his agency's staffing to "skeletal" levels, blocking it from approving companies' IPO filings and hindering the agency's ability to respond to any market turmoil. An SEC spokesperson did not immediately respond to a request for comment on Birkenstock's IPO plans. Companies less advanced in their IPO preparations, including healthcare software vendor Waystar, healthcare services firm Brightspring and car-sharing platform Turo, could be affected by a government shutdown. They did not immediately respond to requests for comment.

Persons: Birkenstock, Kevin McCarthy, Gary Gensler, Abigail Summerville, Anirban Sen, Chris Prentice, Echo Wang, Lisa Shumaker Organizations: U.S, U.S . Securities, Exchange, Republican U.S, SEC, Companies, Thomson Locations: Washington, New York

☆ Opinion: The 2,000-year-old advice for coping in 2023
▼ + stars: | 2023-09-24 | by ( Richard Galant | ) edition.cnn.com time to read: +21 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. A surprising number claimed to think about the ancient empire as often as ‘every day’ or least every week or two. It became a meme (are you even in a relationship if she hasn’t asked you about the Roman Empire? They marvel at their absolute dominion, their mastery of every strand of civilisation — and then how that power suddenly slipped away. Biden on Wednesday took steps to speed up the ability of Venezuelans in the US to obtain work permits.

Persons: CNN —, ”, Lucius Annaeus Seneca, Seneca, Caligula, Claudius, Nero, Bobby McFerrin’s musing, David M, Perry, hasn’t, Jo Ellison, —, Marcus Aurelius, that’s, David Perry, “ There’s, ” Perry, Paula M, Krebs, “, Donald Trump’s, Ron DeSantis, Trump, …, ’, ” Cupp, Roe, Wade, Cupp, he’s, Dean Obeidallah, Trump’s, Patrick T, Brown, Bill Bramhall, Content Agency Rupert Murdoch, Rupert Murdoch, Lachlan Murdoch, David Zurawik, Rupert, Murdoch, Roger Ailes, Richard Nixon, ” Murdoch “, Walt Handelsman, Kevin McCarthy, Max Burns, Donald Trump, today’s MAGA, ” Clay Jones, Chuck Schumer, Elena Sheppard, Sen, John Fetterman, baring, Fetterman, Kim Jong Un, Vladimir Putin, Kim Yo Jong, Sung, Yoon Lee, “ Kim Yo Jong, Kim, Kim Jong, ” “, Hunter Biden isn’t, Alexis Coe, George Washington’s, James Madison, Abraham Lincoln, Teddy Roosevelt, Ronald Reagan, George H.W, Bush, Hunter, … Hunter, Joe Biden, Biden, Peter Bergen, Mike Pence, … Biden, Bergen, ” Lisa Benson, Martin Sheen, Melissa Fitzgerald, Gurney, John F, Melissa, Andy, Michael Bociurkiw, ” Bociurkiw, Volodymyr Zelensky “, Zelensky, Lanhee J, Chen, ” Chen, Keir Giles, It’ll, Jennifer Wexton, Barbara Comstock, Alex Brandon, Jill Filipovic, Democrat “, ” Wexteon “, Eric Adams, Julian Zelizer . Biden, ” Don’t, David Horsey, Agency Frida Ghitis, Agatha Christie, China Adam H, Sobel, Holly Thomas, Russell Brand, Akanksha, Dan Perry, Gilead, Netanyahu government’s, Gene Seymour, Jann, Reggie B, Maren Morris, Matt Winkelmeyer, ” Maren Morris, Nicole Hemmer, Morris ’, Morris, Jason Aldean’s “, Oliver Anthony’s “ Rich, Richmond ”, “ Rich, ” Hemmer, Anthony himself, ‘, Hemmer Organizations: CNN, Financial Times, West Virginia University, Modern Language Association, WVU, West Virginia, Republican, Press, Florida Gov, White, Content Agency, Content Agency Rupert Murdoch Media, Fox News, Capitol, Agency, Democratic, fied Republican Party, Republican Party, Justice Department, Qatari, Amnesty International, Kennedy Center, UN, Assembly, CBS, Ukraine’s, Republicans, Democrat, Progressive Supra, GOP, Walton, Mobile, North, Richmond Locations: Rome, Ukraine, TikTok, Roman, Roman Republic, Washington, ”, Korean, North Korea, Iran, Qatar, Russia, Moscow, Kyiv, Dulles , Virginia, Virginia, New York City, United States, China, Las Vegas , Nevada

[1/5] An aerial view shows rescue teams searching for dead bodies at a beach, in the aftermath of the floods in Derna, Libya September 17, 2023. Hamad Awad sat on a blanket on an empty street with a bottle of water and bedding alongside him. "I am staying in our area trying to clean it and trying to verify who is missing," he said. Entire districts of Derna, with an estimated population of at least 120,000, were swept away or buried in brown mud. Civil protection workers from Algeria combed through the rubble of multistorey buildings with a dog to help detect any survivors.

Persons: Ayman Al, Hamad Awad, Storm Daniel, spokespeople, Osama Al, OCHA, al, Mohammad Shaheen, Abdulnabi, Muammar Gaddafi, Abdulhamid, Mohammed, Menfi, Abdelaziz Boumzar, Ayman Sahly, Adam Makary, Thomas Perry, Maya Gebeily, Philippa Fletcher, Susan Fenton Organizations: REUTERS, Volunteers, United Nations, Sunrise, Humanitarian Affairs, Crescent, Libyan Red Crescent, Reuters, NATO, Thomson Locations: Derna, Libya, DERNA, Libyan, Algeria, al Badya, Ajaylat, Tripoli

Swedbank estimates the current shortfall for Heimstaden Bostad could be roughly 30 billion crowns ($2.7 billion). Sweden's financial regulator launched an inquiry into why and how Alecta had invested $4.5 billion in the property giant, in the first place. "If interest rates continue to rise and it's coupled with unemployment, that's what we are afraid of." With interest rates still climbing, analysts such as Marcus Gustavsson of Danske Bank, believe the worst is not yet over. "With rising interest rates, that funny money has turned into real money and it is painful."

Persons: Heimstaden Bostad, Alecta, Christian Dreyer, Karolina Ekholm, Heimstaden's Dreyer, we're, Dreyer, Niklas Wykman, Heimstaden, David Perez, Marcus Gustavsson, Andreas Cervenka, Sweden, Simon Johnson, Johan Ahlander, Greta Rosen Fondahn, Chiara Elisei, John O'Donnell, Hugh Lawson Organizations: International Monetary Fund, GOVT, Sweden's, Financial, Reuters, SBB, Danske Bank, Thomson Locations: STOCKHOLM, Nordic, Stockholm, Berlin, Sweden, Heimstaden, Germany, Gdansk, London

☆ Bank stocks have come to life recently. But Jim Cramer explains why the rally may not last
▼ + stars: | 2023-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

KeyCorp (KEY) reiterated its financials Tuesday, sending its shares higher — a rally that's been seen in the wider financial sector recently. The stock, however, edged lower after Wednesday's open on Wall Street. That's because, according to Jim Cramer, investors are focusing their attention on big banks, rather than smaller regionals. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "There's a big split right between investment banks, big money centers and the regionals," Cramer said, cautioning that the recent banking sector rally may not be sustainable.

Persons: Jim Cramer, Jim Cramer's, Cramer, Wells Fargo, Morgan Stanley Organizations: Cramer's Charitable Trust, CNBC, Silicon Valley Bank Locations: Wells, Cramer's, Silicon

☆ Cramer warns Wall Street's AI craze may be peaking
▼ + stars: | 2023-09-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday suggested that Wall Street's artificial intelligence craze may be reaching its peak. Cramer wondered if AI is having a GoPro moment as he compared companies touting AI offerings to the action camera fad years ago. But he questioned companies advertising AI directly to the consumer, cautioning investors that many may be hyping AI to raise their stock's valuation. According to Cramer, AI is intended to save businesses money, not serve individual consumers. "Unless there's a return on investment that's tangible and visible, generative AI may not be all that valuable," he said.

Persons: CNBC's Jim Cramer, Cramer, GoPro, they've Locations: Hawaii

☆ Indonesia's Pertamina Geothermal in talks to buy KS Orka unit for up to $1 bln - sources
▼ + stars: | 2023-09-08 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

Geothermal developer KS Orka had earlier this year appointed DBS to explore the sale of Sorik Marapi, the sources said, declining to be identified as the matter is private. Pertamina Geothermal and KS Orka did not immediately respond to requests seeking comment on Friday. If the deal materialises, it could mark one of the biggest by Pertamina Geothermal since its domestic initial public offering in February. KS Orka acquired a majority share of the company in mid-2016, the website showed, without disclosing the value. Besides Sorik Marapi, KS Orka's other projects include PT Sokoria Geothermal Indonesia in East Nusa Tenggara, KS Orka's website showed.

Persons: Sorik Marapi, Sorik, Yantoultra Ngui, Fransiska Nangoy, Kane Wu, Jacqueline Wong Organizations: Pertamina Geothermal, Pertamina Geothermal Energy, KS Orka Renewables, KS Orka, DBS, KS Orka's, Orka, Kaishan, Sokoria Geothermal, Thomson Locations: SINGAPORE, Indonesia, Southeast, Mandailing Natal, North Sumatra, Sokoria Geothermal Indonesia, East Nusa Tenggara, KS, Singapore

☆ Singapore’s wealth boom hits most sensitive phase
▼ + stars: | 2023-09-06 | by ( Anshuman Daga | ) www.reuters.com time to read: +5 min

REUTERS/Edgar Su Acquire Licensing RightsSINGAPORE, Sept 6 (Reuters Breakingviews) - Singapore’s wealth boom may be set for a pause. The amount involved has almost doubled and banks, realtors and jewellery dealers have been caught up in the ring. It is the most eye-catching saga since 2015 when Singapore’s banks were involved in the 1MDB Malaysian sovereign fund mess. As Singapore’s success as a financial centre grows, so too does its vulnerability to dirty money. A thornier problem is Singapore’s desire to avoid perceptions it is capitalising on the troubles of China, its top trade partner.

Persons: Edgar Su, Una Galani, Katrina Hamlin, Pranav Kiran Organizations: REUTERS, Rights, Reuters, realtors, DBS, Deutsche Bank, Bloomberg, Reuters Graphics Reuters, Monetary Authority of, U.S, Police, Thomson Locations: Marina Bay, Singapore, Rights SINGAPORE, China, Malaysian, Hong Kong, Monetary Authority of Singapore

Search resuls for: "cautioning"

25 mentions found