DIRS.INFO The most relevant business & tech news

☆ Elon Musk's idea for paid Twitter verification is 'completely flawed,' EU competition chief says
▼ + stars: | 2022-11-16 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

BRUSSELS — Elon Musk's idea for a subscription model to pay for Twitter's sought-after blue check is "completely flawed," Europe's competition chief told CNBC Wednesday. "If you have imposter accounts, of course, I think your business model is fundamentally flawed," Margrethe Vestager, executive vice president of the European Commission, told CNBC at an event in Brussels, Belgium. I think that business model simply is completely flawed," she added. New Twitter CEO and sole director Elon Musk said Tuesday that the service would be relaunched on Nov. 29. Vestager, herself, said she remembers when she obtained the blue check mark.

☆ Liberty Steel agrees debt restructuring deal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 15 (Reuters) - The Liberty Steel group owned by commodities tycoon Sanjeev Gupta has reached an agreement to restructure much of its debt for global operations, it said on Tuesday, while negotiations continue on the debt of its European business. Liberty said in a statement that it had signed a term sheet subject to contract on an agreement in principle on debt restructuring with parties responsible for the main creditors of Greensill Capital UK Ltd, Greensill Bank AG and Credit Suisse Asset Management (CSGN.S). The company said in June that it had reached a standstill agreement with its largest creditor, Greensill Bank, on debt facilities for its European business. Tuesday's statement said Liberty was in the process of negotiating a similar term sheet for restructuring debt for the European business. German-based Greensill Bank is a subsidiary of Greensill Capital, which lent money to businesses by buying their invoices at a discount, but it collapsed after one of its main insurers declined to renew its cover.

☆ Europe shows a united front against Biden's Inflation Reduction Act, says it threatens industry
▼ + stars: | 2022-11-09 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The sweeping U.S. legislation, which was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies, was discussed by the 27 EU finance ministers on Tuesday. The same official added that "there is a political consensus (among the 27 ministers) that this plan threatens the European industry." The EU has listed at least nine points in the U.S. Inflation Reduction Act that could be in breach of international trade rules. We don't want to see any kind of decision that could harm this level playing field. "The level playing field is at the core of the trade relationship between the two continents and we don't want to see any kind of decision that could harm this level playing field," he said.

☆ EU, US must address concerns over U.S. inflation act - German fin min
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 7 (Reuters) - Germany wants dialogue with Washington rather than tit-for-tat measures to ease trade tensions triggered by the U.S Inflation Reduction Act, which could harm European businesses and industry, Germany's finance minister said on Monday. Christian Lindner said a task force set up between the United States and the European Union should address the issue urgently. "In everyone's interest, we will not enter a tit-for-tat but rather strengthen the sources of wealth and growth together," he added. Earlier on Monday, French Finance Minister Bruno Le Maire said the law was a major threat to European companies and that the EU must stand firm against it. Reporting by Rachel More, Editing by Miranda Murray and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's dependence on China is 'overblown,' but critical goods diversification needs to improve: EU Chamber of Commerce
▼ + stars: | 2022-11-04 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

watch nowThe top European business representative in China downplayed concerns over Germany's economic reliance on China as German Chancellor Olaf Scholz makes his maiden in-person visit to Beijing. President of the EU Chamber of Commerce in China Joerg Wuttke told CNBC's "Squawk Box Asia" on Friday that many of Germany's imports from China are replaceable, when asked if the European country had become dependent on China for many of its goods. Experts largely agreed with Wuttke but warned that Germany needed to step up its diversification from with China. and international relations expert from the S. Rajaratnam School of International Studies, largely agreed with Wuttke's comments, given Wuttke's extensive knowledge of Germany's stakes in China. He said Germany must reduce its dependency so that it is neither susceptible to blackmail by Beijing, nor unable to implement sanctions.

☆ Russia turns to Japan for used car imports as domestic production slumps
▼ + stars: | 2022-11-03 | by ( Gleb Stolyarov | ) www.reuters.com time to read: +2 min

New car imports were well below February levels in August, data from Russian analytical agency Autostat showed, but those of used cars more than doubled to 23,117 from 11,055. The vast majority, 76%, of used cars were imported from Japan, with Belarus distant second with a 5.3% share, the data showed. Almost 70% of the 10,257 new cars imported in August came from China, the data showed. "One dealership, due to a lack of deliveries of new cars, has pivoted to selling and leasing used cars," the central bank said. In January-September, new car sales were down almost 60% to 506,661 units.

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Costco, Ford, Meta, McDonald's & more
▼ + stars: | 2022-10-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Amazon as buy Goldman said it's standing by shares of Amazon after its "mixed" earnings report on Thursday. Morgan Stanley reiterates Apple as overweight Morgan Stanley says Apple is still "best of breed" after its earnings report on Thursday. Morgan Stanley reiterates Ford as overweight Morgan Stanley says it likes Ford more as a "restructuring play" than as a way to play the electric vehicle sector. Morgan Stanley reiterates Costco as overweight Morgan Stanley says the stock is defensive and in "rare air." Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said the fast food giant is a must-own "in these times" after its earnings report on Thursday.

☆ Mercedes-Benz to quit Russian market, sell shares to local investor
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Mercedes-Benz logo is seen on a car at a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow, Russia, June 20, 2017. REUTERS/Tatyana MakeyevaBERLIN/MOSCOW, Oct 26 (Reuters) - Mercedes-Benz (MBGn.DE) said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country. Mercedes-Benz Russia said shares in the local subsidiaries would be sold to car dealer chain Avtodom. "Final completion of the transaction is subject to the authority's approval and the implementation of contractually agreed conditions," he added. The Association of European Businesses (AEB) said 9,558 Mercedes vehicles were sold in Russia from January to September, down 72.8% from a year earlier.

☆ European banks’ perfect moment will prove fleeting
▼ + stars: | 2022-10-26 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Oct 26 (Reuters Breakingviews) - Europe’s big banks are enjoying a perfect moment. That dream scenario allowed Deutsche Bank (DBKGn.DE), Barclays (BARC.L) and Banco Santander (SAN.MC) to report chunky profits in third-quarter results released on Wednesday. Barclays’ revenue from trading fixed-income securities, currencies, and commodities in the first nine months of 2022 was 63% higher year-on-year. Deutsche, Barclays and Santander have slashed their group-wide stock of loan-loss provisions since 2020, and in the latter two cases they’re even below pre-pandemic levels. Deutsche Bank and Barclays were down 0.5% and 0.9% respectively.

☆ Foreign business groups in China wary as new Xi term begins
▼ + stars: | 2022-10-24 | by ( Josh Horwitz | ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 24 (Reuters) - Overseas business groups in China expressed on Monday wariness about President's Xi Jinping's newly unveiled leadership team and his stated priorities, with some urging against greater state intervention in the market. While the European business group was positive on remarks Xi made on environmental protection, it said it wanted more clarity on how China planned to remain committed to reform and opening up but also how it would "stay independent and self-reliant". "It is not clear how these two statements can be reconciled in practice," it said. Overseas businesses in China have grown increasingly critical of policies such as a tough zero-tolerance stance on COVID-19, which they say is discouraging investment and preventing them from attracting foreign staff. Register now for FREE unlimited access to Reuters.com RegisterReporting by Josh Horwitz; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ BOJ, BoJo, Beijing and bond bounce
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +5 min

A surge in Japan's ailing yen from 32-year lows later on Friday, amid reports of out-of-hours Bank of Japan intervention in New York, saw a peak-to-trough drop in dollar/yen of almost 4%. There were wild swings again on Monday amid suspicion of further BoJ sales, even though officials refused to confirm the action. A weekend of political twists from Beijing to London only added to edgy market on Monday. China leadership China's Xi Jinping secured a precedent-breaking third leadership term on Sunday and introduced a top governing body stacked with loyalists. Hong Kong's Hang Seng index (.HSI) has now underperformed MSCI's broadest global stock index by almost 50% over two years.

☆ Fears of a severe recession deepen as European business activity slows on surging energy costs
▼ + stars: | 2022-10-24 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Business sentiment in the euro area dropped once again ahead of an ECB meeting where President Christine Lagarde is expected to raise rates again. European business activity took another hit in the month of October, reporting the steepest output loss since April 2013 excluding pandemic lockdowns. Firms have been under pressure due to higher inflation, particularly coming from energy costs and wage pressures. Manufacturing activity led the losses, but services output also dropped for a third consecutive month. In terms of national breakdown, business activity in Germany came in at 44.1, versus 45.7 in the previous month.

☆ Earnings playbook: How to trade the busiest week of the season thus far, including Apple and Amazon
▼ + stars: | 2022-10-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +17 min

It's the busiest week of the earnings season thus far, with nearly 150 S & P 500 components set to report. What history shows: Coca-Cola has outperformed analyst earnings expectations in the last 11 quarters, FactSet data shows. Alphabet is set to report earnings after the close, with management expected to hold a conference call at 5 p.m. What history shows: FactSet data shows Microsoft's earnings per share have come in above expectations in 24 of the last 25 quarters. What history shows: McDonald's earnings per share have outperformed expectations in six of the last 10 quarters, FactSet data shows.

☆ India's Coforge posts Q2 profit beat as deal wins remain intact
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 20 (Reuters) - Indian IT solutions provider Coforge Ltd (COFO.NS) reported a 37% rise in second-quarter profit on Thursday, beating analysts' estimates, as it won more orders, including large deals. The company's profit of 2.01 billion Indian rupees ($24.3 million) in the quarter was higher than analysts' expectation of 1.97 billion rupees, according to IBES data from Refinitiv. The IT services provider said revenue from operations surged 24.8% year-over-year to 19.59 billion rupees, boosted by big orders from insurance, banking and financial services companies. Coforge said it signed two deals worth over $30 million during the quarter, after securing two large deals, including one worth over $50 million, in the previous quarter. The company's orders intake stayed above $300 million for the third consecutive quarter, clocking $304 million in the latest three-month period.

☆ Nestlé Faces a Chilly Winter Back Home
▼ + stars: | 2022-10-19 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Considering inflation is at a four-decade high in some of its key markets, Nestlé’s sales are surprisingly healthy. The Swiss food giant, which sells brands including Nescafé coffee and Purina pet food, reported its highest quarterly growth in 14 years on Wednesday and raised its full-year outlook. Sales increased by 9.3% at constant currencies for the three months through September, compared with a year earlier. Products that are consumed outside the house, like bottled water and confectionery, sold well. Demand for these goods fell during lockdowns last year but has bounced back as people return to more normal routines.

☆ XPO Logistics Names CFO Ahead of Planned Spinoff of Freight Brokerage Business
▼ + stars: | 2022-10-10 | by ( Kristin Broughton | Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

XPO Logistics Inc. named a new finance chief ahead of the planned spinoff of its freight brokerage business later this year, part of an ongoing effort to split the sprawling transportation company into smaller pieces. Carl Anderson will take over as chief financial officer on Nov. 8, Greenwich, Conn.-based XPO Logistics said Monday. XPO Logistics in 2021 spun off its supply-chain business GXO Logistics Inc., which provides services such as warehousing and e-commerce. XPO Logistics reported a total profit of $141 million during the quarter, down 10% from a year earlier. During his tenure as finance chief, Mr. Tulsyan played a key role in the spinoff of the GXO supply-chain business.

☆ Morning Bid: Unstable cable
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +5 min

Supercharging an already rampant U.S. dollar around the globe, the sterling/dollar rate - nicknamed 'cable' by traders - went into virtual freefall at one point early on Monday. The pound's plunge comes ahead big auctions of both long-term and inflation-linked British government bonds this week and increasing liquidity issues in the gilt markets. read moreThe scale of the pound's losses and fiscal fears has many traders speculating about emergency rate rises by the Bank of England. Rate futures now price in a three-quarters-of-a-point hike to 3% on or before the BoE's next meeting on Nov. 2. read moreChina also acted in a different way on Monday to rein in yuan ongoing slump against the dollar.

☆ European business group warns of loss of confidence in China
▼ + stars: | 2022-09-21 | by ( Josh Horwitz | ) www.reuters.com time to read: +3 min

REUTERS/Aly SongSHANGHAI, Sept 21 (Reuters) - A top European industry group warned on Wednesday that firms were losing confidence in China and that its standing as an investment destination was being eroded, citing its "inflexible and inconsistently implemented" COVID policy as a key factor. The European Chamber of Commerce published the warnings in a paper it said had input from 1,800 member companies, which also contained 967 recommendations for China, the European Union and European companies related to doing business in the country. The report, which touched on issues from Taiwan to trade, said, for example, that China should refrain from "erratic policy shifts", deepen cooperation with the European Union and increase international flights. Register now for FREE unlimited access to Reuters.com RegisterThe European Union should proactively engage with China and reject calls for disengagement, it added. China says its policy is needed to prevent its health system from being overwhelmed as well as an unacceptable loss of life.

☆ European businesses are rethinking their plans for a 'closed' China
▼ + stars: | 2022-09-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — European businesses in China are revaluating their market plans after this year's Covid controls further isolated the country from the rest of the world, said Joerg Wuttke, president of the European Union Chamber of Commerce in China. For European businesses, "we talk about a complete readjustment of our view on China over the last six months," Wuttke told reporters at a briefing for the chamber's annual China position paper, released Wednesday. He said the lockdowns and uncertainty for businesses have turned China into a "closed" and "distinctively different" country that might prompt companies to leave. Foreign businesses can still find specific areas of opportunity. China is improving local market access, albeit in areas where locals already dominate or are "desperate" for foreign investment, Wuttke said.

☆ Leaked documents show Google Cloud is betting big on Europe and Asia in what it sees as a $100 billion opportunity, saying if it doesn't it will 'face being left behind in half the world'
▼ + stars: | 2022-09-14 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +4 min

Google Cloud is betting big on Europe and Asia by rolling out "trusted partner cloud," or TPC. Google sees data sovereignty as a $100 billion market, calling TPC its "most important program." Leaked internal documents that Insider viewed show that Google Cloud sees an initiative called "trusted partner cloud," or TPC, as the linchpin of this strategy. In an internal FAQ dated August 9, Google Cloud estimates that data sovereignty is a $100 billion market. The documents Insider viewed, which were dated from June, show that Google Cloud plans to launch that European cloud service in different countries through 2023 and 2024.

☆ Global Economic Growth Is Weighed Down by Inflation, Rising Interest Rates
▼ + stars: | 2022-07-21 | by ( Paul Hannon | Austen Hufford | ) www.wsj.com time to read: 1 min

Fresh economic data pointed to a slowdown in U.S. and global growth, as higher prices and interest rates weigh on consumer demand, Europe enters a critical phase of its economic conflict with Russia, and China faces headwinds. U.S. and European business activity fell in October, according to new surveys released Monday. A sharp slowdown in services activity, the biggest driver of the world’s largest economy, led the U.S. decline.

☆ Deadline extended - Communication and Service Manager at European Business Association Moldova (EBA Moldova)
▼ + stars: | 2021-07-09 | by ( Alte Articole | ) www.civic.md time to read: 1 min

Administratorii portalului nu poartă răspundere pentru conţinutul postărilor şi materialelor plasate de utilizatorii site-ului. Utilizaţi informaţia din acest articol pe propriul risc.

☆ Communication and Service Manager at European Business Association Moldova (EBA Moldova)
▼ + stars: | 2021-06-30 | by ( Alte Articole | ) www.civic.md time to read: 1 min

Administratorii portalului nu poartă răspundere pentru conţinutul postărilor şi materialelor plasate de utilizatorii site-ului. Utilizaţi informaţia din acest articol pe propriul risc.

☆ (Infografic) Rezultatele proiectului ”Societatea civilă contribuie la dezvoltarea economică și socială a țării”
▼ + stars: | 2020-12-10 | by ( ) www.civic.md time to read: 1 min

În cadrul proiectului ”Societatea civilă contribuie la dezvoltarea economică și socială a țării” finanțat de către Uniunea Europeană și co-finanțat de Suedia 2018-2020, au fost create 6 centre de suport în afaceri, 5 centre de învățare pe parcursul vieții, 5 parteneriate locale pentru o piață incluzivă a muncii, 10 Fonduri de antreprenoriat pentru tineri și 15 întreprinderi sociale. Fundația Est-Europeană, în colaborare cu European Business Association, HelpAge International, Centrul pentru inovare și dezvoltare socială și Centrul Parteneriat pentru dezvoltare au susținut reprezentanții societății civile la nivel local să implementeze inițiative care dezvoltă comunitățile. Împreună suntem mai Puternici!

Organizations: Uniunea Europeană, - Europeană, European Business Association Locations: Suedia

☆ (infografice) Mai multe centre de dezvoltare, create în cadrul proiectului „Societatea civilă contribuie la dezvoltarea economică și socială a țării”, finanțat de UE și de Suedia
▼ + stars: | 2020-11-26 | by ( Https | Www.Facebook.Com Unimedia.Info | Bogdan Țîrdea | ) unimedia.info time to read: +2 min

Fundația Est-Europeană, în colaborare cu HelpAge International, a susținut inițiativele la nivel local și a monitorizat implementarea acestora. Fundația Est-Europeană / Sursa:Fundația Est-EuropeanăFundația Est-Europeană / Sursa:Fundația Est-EuropeanăÎn cadrul proiectului ”Societatea civilă contribuie la dezvoltarea economică și socială a țării” finanțat de către Uniunea Europeană și co-finanțat de Suedia, au fost create șase centre de suport in afaceri. Fundația Est-Europeană / Sursa:Fundația Est-EuropeanăFundația Est-Europeană / Sursa:Fundația Est-EuropeanăÎn cadrul proiectului ”Societatea civilă contribuie la dezvoltarea economică și socială a țării” finanțat de către Uniunea Europeană și co-finanțat de Suedia, au fost create cincisprezece întreprinderi sociale. Fundația Est-Europeană a susținut întreprinderile sociale, le-a ghidat și a monitorizat gestionarea acestora. Fundația Est-Europeană / Sursa:Fundația Est-EuropeanăFundația Est-Europeană / Sursa:Fundația Est-Europeană

Organizations: - Europeană, Est, Uniunea Europeană, European Business Association Locations: Europeană, Suedia

Search resuls for: "European Business"

25 mentions found