DIRS.INFO The most relevant business & tech news

☆ Sales of Manhattan apartments nosedived at the end of 2022
▼ + stars: | 2023-01-04 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

But it nosedived at the end of 2022, with the market returning to its pre-pandemic trajectory as sales dropped and prices slipped. Sales dropped 28.5% in the fourth quarter compared to the fourth quarter of 2021. “The Manhattan sales market is exiting the euphoric market of 2021 and moving to something closer to normal,” said Jonathan Miller, president and CEO of Miller Samuel. As a result, there were 6,523 listings in Manhattan at the end of the fourth quarter. That’s 5% higher than the fourth quarter of 2021, but 15.7% less than the third quarter of 2022.

☆ Meta is a 'top recession stock' for 2023, analysts say, after shares tanked 65% this year
▼ + stars: | 2022-12-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Wall Street analysts are bullish on Meta Platforms for 2023 after shares in the company nosedived by more than 65% this year. The decline is the largest among mega-cap stocks, with many analysts saying shares in the company have fallen too far. As a result, while the stock has since risen by about 16%, it remains down by more than 65% this year. Bank of America Bank of America analysts have also become bullish on Meta's shares after the company announced its cost-cutting measures. The analysts have called Meta a "top recession stock" and expect shares to rise by 19% to $136 next year if Facebook's parent can keep costs to a minimum through the recession.

☆ Tesla stock has plunged nearly 70% from its peak. 'Big Short' investor Michael Burry called the crash.
▼ + stars: | 2022-12-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Tesla stock has plunged about 67% from its peak in November 2021. The investor repeatedly warned Tesla shares were in a bubble and destined to crash. Other factors were a boom in people playing the stock market while stuck at home, and a social-media frenzy around certain stocks. "The competition came for Netflix, just like the competition is coming for Tesla," Burry tweeted. He returned to his punching bag in September, when Tesla stock was trading at more than double its current level.

☆ Blackstone CEO says financially distressed investors driving REIT redemptions
▼ + stars: | 2022-12-07 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

Blackstone relies on the REIT for about 17% of its earnings. Large redemptions have been seen at other such funds, with investment firm Starwood Capital informing investors last week that its $14.6 billion non-traded REIT also had raised the gates. There has also been a wave of redemptions at other non-traded Blackstone funds marketed to high net-worth investors. He added the redemptions did not mean the investors were not happy with the REIT and its profits. Blackstone has reported a 9.3% year-to-date return for its REIT, net of fees, a contrast to the publicly traded Dow Jones U.S.

☆ China wants US not to interfere in ties with India - Pentagon
▼ + stars: | 2022-11-30 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

NEW DELHI, Nov 30 (Reuters) - China has warned the United States to not interfere in its relationship with India following deadly border skirmishes between the Asian giants in 2020, the Pentagon said in a report. Ties between India and China have nosedived since the worst border clashes between them in 45 years killed 20 Indian and four Chinese soldiers. India is part of the so-called Quad alliance with the United States, Japan and Australia that aims to keep China's influence in the Indo-Pacific region in check. "The PRC seeks to prevent border tensions from causing India to partner more closely with the United States. PRC officials have warned U.S. officials to not interfere with the PRC’s relationship with India."

According to the source, FTX did not have nearly enough on hand. Its biggest customer, according to a source, was the hedge fund Alameda. In general, mixing customer funds with counterparties and trading them without explicit consent, according to U.S. securities law, is illegal. Sam Bankman-Fried declined to comment on allegations of misappropriating customer funds, but did say its recent bankruptcy filing was a result of issues with a leveraged trading position. The blurred lines between FTX and Alameda Research resulted in a massive liquidity crisis for both companies.

☆ FTX users appear to be cashing out of bankrupt crypto exchange through a Bahamas loophole
▼ + stars: | 2022-11-12 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

Some FTX users appear to have found a way to move money off of the exchange through a back door in the Bahamas. The patterns suggest "desperate" customers were turning to FTX users in the Bahamas for help, according to Argus. The now-bankrupt global cryptocurrency exchange is only allowing withdrawals in the Bahamas after halting FTX liquidations everywhere else in the world. High-net-worth users are paying astronomical prices for NFTs on FTX at a time when the broader crypto and digital collectible market has nosedived. Argus said this type of trading is likely an attempt by FTX users to access money in any way they can.

☆ Goldman Sachs CEO says he expects a 'reopening' in capital markets next year
▼ + stars: | 2022-11-10 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Goldman Sachs CEO David Solomon said Thursday that he expects capital markets to recover in the upcoming months. "In the coming months, we'll see a little bit of a reopening in the capital markets when people get used to this valuation adjustment." U.S.-listed companies raised $4.8 billion in proceeds during the first half of 2022 compared to $155 billion in 2021, according to EY and Dealogic. While those headwinds continue to persist, Solomon says the market is adjusting to its new reality. "We're three quarters into a more difficult capital markets environment.

☆ What to know as October inflation data looms - and the Federal Reserve's next move.
▼ + stars: | 2022-11-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Year-over-year inflation for October is expected to have eased slightly to 7.9%, according to Bloomberg's median estimate, down from 8.2% September. But here's a tidbit I did not find reassuring: The annual inflation rate came in above forecasts in six of the last seven months. While it'd be a good sign if CPI comes in lower than September, that doesn't mean the economy is in the clear — far from it, actually. "If Core inflation comes in greater than 0.5%, the Fed will raise rates more and we would be reevaluating the probability of a recession, and probably raising it higher." The chief global strategist for JPMorgan's investing arm explained why the Fed will cause an unnecessary recession, even as inflation is fading away.

☆ The next few months should be a good time for struggling investors to recoup some of their losses, according to Morgan Stanley. Here's why — and when to get out again.
▼ + stars: | 2022-10-27 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Stocks have upside over the next few months, according to Morgan Stanley CIO Michael Wilson. After months of painful losses and unpleasant surprises, Morgan Stanley says investors are going to catch a break. "Such a move could provide the necessary fuel for the next leg of the tactical rally in stocks," Wilson wrote in a recent note to clients. So Wilson says the next two or three months could be good times, but investors will need to recognize when they're ending. Even if investors do expect a recession, Wilson says they won't fully price it in until they see employment is falling in the monthly non-farm payrolls report.

☆ Japanese prime minister orders investigation of Unification Church
▼ + stars: | 2022-10-18 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

TOKYO — Japanese Prime Minister Fumio Kishida ordered an investigation Monday into the Unification Church in an apparent move to calm the public outrage over his governing party’s cozy ties with the controversial group, which were revealed in the wake of Shinzo Abe’s assassination. Former Prime Minister Abe was shot to death during an outdoor campaign speech in July. The suspect, Tetsuya Yamagami, told police he killed Abe because of his apparent link to a religious group he hated. An LDP survey in September found nearly half of its lawmakers had ties to the church, including Cabinet ministers. Nagaoka, the culture minister, said she will set up a panel of legal and religious experts next week to discuss a rare investigation into a religious group.

☆ Wall Street surges as market seeks bottoming signs
▼ + stars: | 2022-10-17 | by ( Reuters Staff | ) www.reuters.com time to read: +6 min

FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. That seems to be the daily MO for the market.”PHIL BLANCATO CEO OF CEO OF LADENBURG THALMANN ASSET MANAGEMENT“This is the turnaround week every single year. If you look for the single best turnaround week for the year, it’s always the second week of October. The fourth quarter is on average the best quarter every single year and on average the turnaround week happens the second week of October. You’re seeing earnings hold on so far.

☆ Jamie Dimon says expect 'other surprises’ from choppy markets after U.K. pensions nearly imploded
▼ + stars: | 2022-10-14 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview in London, U.K., on Wednesday, May 4, 2022. JPMorgan Chase CEO Jamie Dimon says investors should expect more blowups after a crash in U.K. government bonds last month nearly caused the collapse of hundreds of that country's pension funds. That averted disaster for pension funds using leverage to juice returns, which were said to be within hours of collapse. The upshot: Leverage that had been hiding in unexpected places, like U.K. pension funds, will continue to unwind, according to Dimon. Mishaps could manifest in emerging markets or at hedge funds with high leverage, Dimon said.

☆ Impossible Foods' new CEO is pining for a Super Bowl ad and status as a household name. First, he'll have to win over employees.
▼ + stars: | 2022-10-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +10 min

Peter McGuinness, Impossible Foods' new CEO, has said he wants a Super Bowl ad. "He's said 'Super Bowl ad' at least a thousand times," a current marketing employee said. But Super Bowl spots cost several million dollars each, putting them out of reach for Impossible, the employee said. Insider spoke with five current and former Impossible Foods employees about McGuinness' and Brown's leadership and the future of the company. Impossible Foods meatballs Impossible FoodsFrom R&D to marketingUnder Brown, Impossible was a company focused on research and development.

☆ Sterling falls for a fifth day; turmoil dogs the bond market
▼ + stars: | 2022-10-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

LONDON, Oct 11 (Reuters) - The pound fell for a fifth day on Tuesday as the turmoil engulfing UK government bond markets forced the Bank of England to step in yet again to attempt to stem a damaging sell-off in the country's debt. Sterling fell 0.3% to $1.1036, and was also down 0.3% versus the euro at 88.00 pence. If you have a look at the population of holders of long-dated UK assets - anything that is 15-20 years - it's mostly domestic funds," ADM Investor Services Chief Economist Marc Ostwald said. The pound promptly nosedived and the gilts market went into a tailspin, putting pension funds at risk of insolvency. But sterling's problems extend beyond the liquidity crunch in the gilts market.

At the International Monetary Fund's last count in the first quarter of this year, almost 5% of the world's foreign currency reserves were denominated in sterling - a total of $625 billion dollars worth of sterling and sterling assets on a crude calculation from the $12.55 trillion total. The UK has a reserve currency so it can always issue debt – it's just a question of the right price." But what if that reserve currency position is threatened and foreign central banks balk at holding so much sterling in their national savings stashes? Seven of the world's top 10 reserve holding central banks are in Asia or the Middle East. UBS chart on its 2022 survey of world reserve managersThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Fed 'united,' moving at 'appropriately aggressive' pace -Kashkari
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Sept 27 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said U.S. central bankers are united in their determination to do what is needed to bring inflation down, and financial markets understand that. "We are committed to restoring price stability, but we also recognize, given these lags, there is the risk of overdoing it on the front end, and so I think we are moving at an appropriately aggressive pace," he said. Kashkari said he believes markets have digested the Fed's intent to bring inflation down and that while monetary policy now is tight, it will need to be tighter still. "The economy is sending us a lot of mixed signals right now," Kashkari said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ann Saphir; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 gains as weak pound lifts export-heavy consumer staples
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/SummarySummary Companies FTSE 100 up 0.5%, FTSE 250 off 0.7%Sept 26 (Reuters) - London's FTSE 100 index rose on Monday, led by shares of dollar-earning consumer staple companies after sterling tumbled to record low on worries the new government's economic plan will stretch Britain's finances to the limit. The export-oriented FTSE 100 (.FTSE) gained 0.5%, while the more domestically oriented FTSE 250 (.FTMC) declined 0.7%. Consumer staples like Unilever (ULVR.L) and British American Tobacco (BATS.L) added 3.5% and 1.1%, respectively. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Johann M Cherian in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Unification Church pledges reforms after Shinzo Abe’s killing
▼ + stars: | 2022-09-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

On Wednesday, a man set himself on fire near the prime minister’s office in Tokyo in an apparent protest against the state funeral. Media reports said he had a note expressing his opposition to the state funeral. Critics say the plan for a state funeral was decided undemocratically, has no legal basis, and is an inappropriate and costly use of taxpayers’ money. Political analysts say Kishida decided to hold a state funeral to please Abe’s party faction and buttress his own power. “Prime Minister Kishida should have made a decision more carefully.”

☆ Boeing pays $200 million to settle SEC charges over 737 Max safety claims
▼ + stars: | 2022-09-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Boeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. Neither Boeing nor Muilenburg admitted wrongdoing, but they offered to settle and pay penalties, including $1 million to be paid by Muilenburg, who was ousted in December 2019, nine months after the second crash. The SEC said Boeing and Muilenburg knew that the flight system, known as MCAS, posed a safety issue but promised the public that the plane was safe. “Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 Max all in an effort to rehabilitate Boeing’s image” after the crashes, said Gurbir Grewal, director of the SEC’s enforcement division. Boeing said it has made “broad and deep changes across our company in response to those accidents” to improve safety and quality.

☆ Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, are expecting baby No. 3
▼ + stars: | 2022-09-21 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg and Priscilla Chan are expecting their third child. "Happy to share that Max and August are getting a new baby sister next year!" Zuckerberg and Chan are college sweethearts and have been married since 2012. The Meta CEO announced Wednesday that he and his wife, Priscilla Chan, are expecting their third child, a girl. "Lots of love," Zuckerberg wrote in an Instagram post, accompanied by a selfie of Chan and him.

☆ Our measured approach to Humana positioned us well for Thursday's bounce and for whatever comes next
▼ + stars: | 2022-09-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Humana increased its adjusted earnings per share guidance for full-year 2022 to about $25, up 25 cents from its previous estimate. We knew there was a possibility that Humana would raise its target, which could cause the stock to rally. This can help boost Medicare Advantage revenue and ultimately help Humana get on the path of $37 per share. We are confident that the Medicare Advantage business will continue to grow. While it's business largely comes from Medicare Advantage plans sold to retail customers, we should point out that Humana's services expand the addressable health care market.

☆ 'Crazy stuff is happening at my work': Silicon Valley engineers are really freaking out right now
▼ + stars: | 2022-06-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Silicon Valley, perhaps even more than the rest of corporate America, has long been engaged in a two-sided battle over the pursuit of happiness. In the Silicon Valley that emerges on Blind, the engineers who strive for work-life balance are just as burned out as the late-night grinders. But Silicon Valley has always overindexed for Optimizers. If this is Silicon Valley today, nobody's happy, and everybody's burnt. Stereotypically, Silicon Valley engineers are grinders.

☆ The definitive story of how a controversial Florida businessman blew up MoviePass and burned hundreds of millions
▼ + stars: | 2019-09-13 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +28 min

In 2017, he became the CEO of data company Helios & Matheson Analytics. At that price MoviePass would start losing money when a subscriber used the service more than once a month. MoviePass CEO Mitch Lowe and Helios & Matheson CEO Ted Farnsworth after the company hit 1 million subscribers. The same day MoviePass reached 1 million subscribers, a milestone it hit faster than Netflix and Hulu. Related storiesTo draw a crowd, MoviePass blasted out an invitation to the Big Boi show to its then 2 million subscribers.

Persons: John Travolta, He'd, " Gotti, John Gotti, Travolta, Ted Farnsworth, Mitch Lowe, who'd, he'd, Farnsworth, Lowe, Gotti, Dave Kotinsky, Samantha Lee, Stacy Spikes, Spikes, Spikes wasn't, MoviePass, —, Ava DuVernay, Malcolm D, Lee, Hulu, Hamet Watt, Chance Yeh, He's balding, He's, Ted I, La Toya Jackson, couldn't, Matheson, Watt, Helios, Mitch, Ted, MoviePass swag, Dennis Rodman, Jerry Media, hite, Boi, ann u, abi l, tim e, red tha, ord, ul, hal, ove, flo, ann o, bec, lon, Jen, liv, dre Organizations: HBO, Manhattan's SVA, Helios, Matheson Analytics, Netflix, Matheson, MoviePass, SEC, Sony, Miramax, Loews Cineplex, Spotify, Pandora, AOL, True Ventures, Business, Ventures, AMC, Federal Communications Commission, Matheson's, Reuters, Hulu, Coachella Valley Music, Arts Festival, Jerry, acc, pla Locations: Manhattan's, MoviePass, Houston , Texas, San Francisco, America, New York, Florida, India, New, Palm Springs , California, Coachella, fes, ord, pla, Mo

Search resuls for: "nosedived"

24 mentions found