DIRS.INFO The most relevant business & tech news

☆ Bobby Allison, NASCAR Hall of Famer and 3-time Daytona 500 winner, dies at 86
▼ + stars: | 2024-11-10 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

Bobby Allison, founder of racing’s “Alabama Gang” and a NASCAR Hall of Famer, died Saturday. He was the 1983 NASCAR champion, finished second in the series title race five times, and a three-time winner of the Daytona 500. Allison was inducted into the Motorsports Hall of Fame in 1992 and into the NASCAR Hall of Fame along with Ned Jarrett, Bud Moore, Pearson and Lee Petty. “Though he is best known as one of the winningest drivers in NASCAR Cup Series history, his impact on the sport extends far beyond the record books. Allison is one of 10 drivers to have won NASCAR’s career “grand slam” that includes the Cup Series’ most iconic races: the Daytona 500, the Winston 500, the Coca-Cola 600 and the Southern 500.

Persons: Bobby Allison, Allison, Jim France, Darrell Waltrip, Mike Helton, of Famers Richard Petty, David Pearson, Jeff Gordon, “ Bobby, ”, “, Cale Yarborough, “ Cale, ” Allison, Donnie, Red Farmer, Jimmy Mears, Neil Bonnett, Allison’s, Davey, Clifford, Bobby, Judy, Ned Jarrett, Bud Moore, Pearson, Lee Petty, “ Bobby Allison, ’ ”, Roger Penske Organizations: Alabama, NASCAR, of Famer, NASCAR’s, Meyers, Bowman Gray, France, of Famers, of Fame, Catholic, Sunshine State, Talledega Superspeedway, Busch, Michigan International Speedway, Motorsports Hall of Fame, Winston, Indy Locations: Mooresville , North Carolina, North Carolina, Miami, Alabama, Florida, Hueytown , Alabama, Talladega, ’ ” France

In his last term, Trump paused some work visa programs used by tech firms to hire skilled talent. This order left many tech workers stranded outside of the US in 2017. The H-1B visa program is the nation's largest temporary work visa program, with over 600,000 workers across 50,000 employers. Vice President-elect JD Vance has a venture capital background, and Musk is an immigrant himself who has said he was on an H1-B visa previously. Shin Yi Chong, who received her H1-B visa in 2019, was recently laid off from her tech job as a product manager.

Persons: Donald Trump's, Trump, —, Donald Trump, Michael Greeley, What's, Hiba Mona Anver, Anver, Jenny Fielding, Biden, Palo, Sophie Alcorn, Anna Rathbun, Aaron Levie, Elon Musk, Levie, Elon, Alcorn, JD Vance, Anna Moneymaker, Chris Farmer, Vance, Musk, Shin Yi Chong, Shubhangi Goel, Riddhi Kanetkar Organizations: Service, Flare Capital Partners, Trump, Ventures, Hire, Experts, Business Locations: Cleveland, It's

☆ Bitcoin hits $80,000. Why Trump is boosting crypto
▼ + stars: | 2024-11-10 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

After briefly touching the $80,000 milestone, bitcoin was trading just below it Sunday mid-morning. The crypto industry believes Trump’s victory is a bullish sign for bitcoin and other digital currencies. Although Trump was once a bitcoin skeptic, once saying it “was based on thin air,” he has fully embraced crypto in recent months — unlike the Biden administration, which has sought to rein in crypto. A big reason Trump has changed his tune on crypto: He now has a financial stake in it. In September, Trump and his children started a new crypto business called World Liberty Financial.

Persons: CNN — Bitcoin, Donald Trump, Bitcoin, Trump, “, ” Trump, ”, Biden, Gary Gensler, ” Gensler’s, Sam Bankman, Gensler, Gensler’s, cryptocurrencies, Elon Musk Organizations: CNN, Biden, Liberty, . Securities, Exchange, ” Gensler’s SEC, SEC, Department of Justice, cryptocurrencies Locations: USA

☆ I moved my family to Puerto Rico for a job. They were miserable — and we returned to Pennsylvania after just a year.
▼ + stars: | 2024-11-10 | by ( Juan Cruz Jr | ) www.businessinsider.com time to read: +5 min

I moved my family to Puerto Rico for my job — we were excited about the warm weather and beaches. Once we moved, we struggled to adjust and we felt a lot of loneliness being far from family. AdvertisementIn 2015, the opportunity to move from Pennsylvania to Puerto Rico presented itself by way of a job offer with a med-tech company. AdvertisementReally, living in Puerto Rico was a lonely experience for all of us. AdvertisementAfter about a year of stress and tension, we returned to the StatesWe lasted in Puerto Rico for about a year until my family and our belongings headed back to Pennsylvania.

Persons: —, I'd, hadn't, We'd Organizations: Service Locations: Puerto Rico, Pennsylvania, Cataño, Puerto

☆ Americans are doom spending
▼ + stars: | 2024-11-10 | by ( Erika Tulfo | ) edition.cnn.com time to read: +7 min

While this kind of catharsis might work to temporarily allay worries, experts say doom spending poses a danger to consumers’ long-term financial health. Joe Raedle/Getty ImagesThat financial gloom is powering doom spending and, in turn, driving up credit card debt. Beyond the economy, experts say that internet habits play a significant role in driving doom spending, especially for younger consumers. But Alev says that she anticipates a pop in spending whether Americans feel positively or negatively about the outcome of the election. How do you curb doom spending?

Persons: ”, Gen, “ We’re, Courtney Alev, “, Alev, Donald Trump, Trump, Kamala Harris, —, Sertan Kabadayi, Joe Raedle, Bankrate, Aja Evans, ’ ” Evans, hasn’t, ” Alev, Jeff Roberson, Biden, Evans Organizations: CNN, Wheaton College senior, YouTube, Credit, Gallup, Fordham University’s Gabelli School of Business, Federal, Federal Reserve Bank of Philadelphia, Finance, Brookings Institution Locations: Massachusetts, Miami , Florida, West Palm Beach , Florida

☆ Caligan picks up a stake in Verona Pharma, seeing an opportunity to generate more value
▼ + stars: | 2024-11-09 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

It invests in a concentrated portfolio of small and midcap life sciences companies, using activism as a tool to unlock value. A successful drug like Ohtuvayre would not just increase the life expectancies of patients with COPD, but it would lower costs for both health-care providers and COPD patients. Currently, there are over 8.6 million U.S. COPD patients with over 4 million remaining symptomatic despite treatment from the current commercial therapies. In early pooling analysis, Ohtuvayre showed a 41% reduction in exacerbations in COPD patients, almost double brensocatib. When Caligan announced its Verona position last month, the stock was trading at $33.40 per share or a $2.5 billion enterprise value.

Persons: Caligan, David Johnson, Ohtuvayre, Verona's, Verona, MorphoSys, bode, Ken Squire Organizations: Verona Pharma, Caligan Partners, Carlyle Group, FDA, MorphoSys AG, Novartis, pharma, 13D Locations: Verona, London, MorphoSys, Caligan's

☆ Will Kevin Costner appear in the final episodes of 'Yellowstone' season 5? Here's everything we know.
▼ + stars: | 2024-11-09 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +6 min

Despite cutting ties, it appears that fans will see Kevin Costner in the new episodes of "Yellowstone." AdvertisementOver the last year, Kevin Costner made it clear that he had cut ties with "Yellowstone." Will Kevin Costner appear in the second half of "Yellowstone" season 5? Kevin Costner's character wasn't expected to appear in the episodes, given his highly-publicized fallout with creator Taylor Sheridan. Why did Kevin Costner leave "Yellowstone"?

Persons: Kevin Costner, Taylor Sheridan, —, John Dutton, Costner, It's, Will Kevin Costner, he'd, Costner's, Will Kevin Costner's, John, Kevin Costner's, Sheridan, Frederick M, Brown, it's, Reilly, Hauser, Puck Organizations: Service, Paramount Network, Hollywood Reporter, MTV Entertainment Studios, Business, Paramount, Hollywood Locations: Yellowstone, Sheridan

☆ Hackers are stealing tickets from Ticketmaster customers' accounts. For many, the troubled platform is their only option.
▼ + stars: | 2024-11-09 | by ( Dan Latu | Palmer Haasch | ) www.businessinsider.com time to read: +9 min

It was a reminder for an Usher concert in Dallas on October 5, synced with her Ticketmaster account. Live Nation, worth about $28 billion as of November 8, has a tight grip on the live-entertainment industry. The Live Nation executive recommended Ticketmaster account holders have a unique password not used for any other platforms. AdvertisementShe figured she would have to rebuy tickets, she added, so was surprised and pleased when Ticketmaster reinstated the tickets. People protesting outside the US Capitol the morning of a Senate Judiciary Committee hearing about the merger of Ticketmaster and Live Nation in 2023.

Persons: concertgoers, —, Jasmine McKenzie, McKenzie, who's, Taylor Swift, Mika City, Don Toliver's, Floyd George, Floyd George ", City, Usher, didn't, hadn't, it's, Swift, Drew Angerer Organizations: Ticketmaster, BI, Service, Justice Department, DOJ, Live, Business, CBS News, Better Business Bureau, BBB, Capitol, Oasis, City Locations: Vashti, Dallas, Los Angeles, Nashville, Charlotte, North Carolina, Grand Prairie , Texas, Houston, North America, United Kingdom

☆ This couple bought a Disney cabin built in 1998 for $53,375 and are making it their tiny home—take a look inside
▼ + stars: | 2024-11-09 | by ( Celia Fernandez | ) www.cnbc.com time to read: +5 min

Grace saw an article about old cabins from Disney's Fort Wilderness up for sale on Facebook Marketplace. Grace and Jacob KocherWhen Grace saw the listing for a one-bedroom, one-bathroom, 500-square-feet cabin selling for $49,900, she immediately sent it to her dad. Like Grace, Jacob had also stayed in cabins throughout his childhood. Grace and Jacob saw tiny homes selling for over $100,000 and were determined to keep the cost under $125,000 with financing options. Grace and Jacob KocherGrace and Jacob signed the bill of sale in April and paid $53,375, including tax, for the cabin.

Persons: Grace, Jacob Kocher, Jacob, Jacobs, Jacob Kocher Grace, We've, Disney Organizations: CNBC, Facebook, Walt Disney World, Disney Locations: Florida, Disney's Fort, Magic, Fort

☆ China consumer prices rise slowest in 4 months, despite stimulus
▼ + stars: | 2024-11-09 | by ( ) www.cnbc.com time to read: +1 min

People purchasing fruit at an agricultural trade market on May 11, 2024 in Lianyungang, Jiangsu Province of China. China's consumer prices rose at the slowest pace in four months in October while producer price deflation deepened, data showed on Saturday, even as Beijing doubled down on stimulus to support the sputtering economy. Analysts say the package will likely do little to boost economic activity, demand and prices in the near term. However, core inflation, excluding volatile food and fuel prices, rose 0.2% in October, accelerating from 0.1% in September. China's central bank in late September unveiled the most aggressive monetary support measures since the COVID-19 pandemic to revive economic growth.

Persons: Bruce Pang Organizations: National Bureau, Statistics, JLL Locations: Lianyungang, Jiangsu Province, China, Beijing, China's

☆ Basketball is having a moment, and that's good news for Nike
▼ + stars: | 2024-11-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +6 min

Nike recently signed a 12-year deal with the NBA, WNBA, and NBA G League. AdvertisementNike is deepening its partnerships with the NBA and WNBA as basketball explodes in popularity in 2024. That's good news for the company as it tries to get back to its sports roots and reinvigorate sales — and as women's basketball becomes increasingly popular. The sportswear giant announced in October that it signed a 12-year agreement with the NBA, WNBA, and NBA G League to be the exclusive uniform and apparel provider for each league. While Nike started as a running brand, its business has historically been linked with basketball after a 1984 collaboration with Michael Jordan.

Persons: Rachel Wolff, —, John Donahoe, Elliott Hill, Michael Jordan, Jordan Brand, Hill, Sue Bird, Kevin Durant, Jayson Tatum, Nike execs, Adam Silver, Nike It's, Goldman Sachs, Nike's, Caitlin Clark, Simeon Siegel, Siegel, Nike, execs, EMARKETER's Wolff, Wolff Organizations: Nike, NBA, WNBA, NBA G League, Service, Paris Olympics, NCAA, Nielsen, ESPN, G League, Adidas, Bloomberg, Business, Street, BMO Capital Markets, BI, BMO Locations: California, Portland , Oregon, Toronto, EMARKETER

☆ A man who paid $200.57 for a night at a famous NYC hotel and then lived there rent-free for years is unfit to stand trial, court says
▼ + stars: | 2024-11-09 | by ( Alcynna Lloyd | Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Mickey Barreto lived in the New Yorker Hotel for free for years before his recent arrest. AdvertisementDoctors say a man who had lived inside the iconic New Yorker Hotel for free for more than half a decade is unfit to stand trial. Mickey Barreto lived in the New Yorker Hotel for years without paying a single cent in rent. In June 2018, Barreto and his partner, Matthew Hannan, stayed in room 2565 at the New Yorker Hotel for one night and paid $200.57. Although a judge ordered him to stop representing himself as the owner of the hotel, Barreto continued to live there for free.

Persons: Mickey Barreto, Barreto, Doctors, —, Cori Weston, Weston, Brian Hutchinson, Hutchinson, Alvin Bragg's, Matthew Hannan Organizations: New Yorker, Service, Manhattan District, New York Times, Times, Addiction, Mount, Business, Associated Press, Holy Spirit Association, Department of Environmental, Unification Locations: , New York, Mount Sinai, Hutchinson, Barreto's

☆ Kmart has all but disappeared from the US. But its Australian namesake is booming.
▼ + stars: | 2024-11-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementThe closure of a Kmart store in Bridgehampton, New York, in October marked the end of an era for the iconic chain. Now, just one Kmart store remains in the mainland US, tucked away inside an At Home store in southwest Miami. "We see this in things such as Kmart hacks," where creators showcase how they use Kmart products in novel ways to help in their everyday lives, Lloyd-Wallis said. A race to the bottomSo far, Kmart Australia has weathered the e-commerce storm, in part thanks to the geographical challenges companies like Amazon face in Australia. It seems, then, that Kmart Australia could find itself in a price race to the bottom.

Persons: —, Gary Mortimer, Mortimer, They've, Ian Bailey, it's, Bailey, we've, Anastasia Lloyd, Wallis, news.com.au, Roy Morgan, Laura Demasi, Roy Morgan's Organizations: Kmart, Service, Walmart, Target, Kmart Group, Queensland University of Technology, National Retail Federation, Kmart Australia, Getty, Retail Doctor Group, Lloyd, Amazon Australia Locations: Australia, Bridgehampton , New York, Miami, Australian, Melbourne, New Zealand, Target Australia, Canada, Singapore, Philippines, Sydney, Kmart Australia

☆ I left my $195,000 tech job to open a wine bar. I work 12-hour days and don't have health insurance, but I've never been happier.
▼ + stars: | 2024-11-09 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

Shanna Nasiri, 34, decided to leave her tech job when she no longer felt aligned with the work. Earlier this year, she opened a natural wine bar in Williamsburg called With Others. Nasiri said her prior tech work served her well as she became a bar owner. AdvertisementThis as-told-to essay is based on a conversation with Shanna Nasiri, the 34-year-old owner of With Others, a natural wine bar in Brooklyn, New York. When I think about it now, it was pretty brazen to start a wine bar.

Persons: Shanna Nasiri, Nasiri, —, It's, I've, There's, we've Organizations: Service, Qualcomm, Spirit Education Trust Locations: Williamsburg, Brooklyn , New York, Bay, Silicon Valley, San Francisco, New York City, New York, Williamsburg , Brooklyn, Brooklyn

☆ Minnesota man found guilty of murdering mother of his children after allegedly warning she could end up like Gabby Petito
▼ + stars: | 2024-11-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | David K. Li | ) www.nbcnews.com time to read: +2 min

Minnesota jurors on Thursday convicted a man for murdering his girlfriend after he'd warned she could end up like Gabby Petito, the vlogger who in 2021 was also slain by her boyfriend. The victim vanished on March 31, 2023 after dropping off her and Fravel’s two children at daycare in Winona. We’re not going to get Madeline back,” the victim’s father David Kinsgbury told reporters outside court. “Fravel can’t be punished enough.”The victim's loved ones said it'll never be clear to them what led Fravel to kill Kingsbury. A friend of the victim had testified that Kingsbury told her Fravel threatened that if she didn't do as told, the mother of two could end up like end up like Petito.

Persons: he'd, Gabby Petito, Adam Fravel, Madeline, Maddi, Fravel, We’re, David Kinsgbury, “, can’t, it'll, Kingsbury, influencer, David Kingsbury, you've, Zachary Bauer, Krista Hulthgren Organizations: YouTube Locations: Minnesota, Mankato, Kingsbury, Winona, Mabel

President-elect Donald Trump has carried Nevada over Vice President Kamala Harris in the presidential race, NBC News projects. Trump announced the proposal at a Las Vegas campaign rally in June. Harris visited Las Vegas several times, too, after she became the Democratic nominee in the summer. Trump won Nevada after six Republican “fake electors” were indicted last year on forgery charges over their alleged submission of fake certificates to Congress declaring Trump the winner in the state four years ago. Nevada relies heavily on mail-in voting, which Trump and Republican allies railed against in the 2020 election and since.

Persons: Donald Trump, Kamala Harris, Trump, Hillary Clinton, Joe Biden, — Trump, Joe Lombardo —, Republicans hadn’t, Harris, ”, Democrat Aaron Ford Organizations: NBC, White, Trump, Republican Party, Republican, GOP, Republicans, Las Vegas, Culinary Union, Democratic, Nevada, Democrat Locations: Nevada, Las Vegas

It faced a June 2025 deadline to complete the project, according to the federal indictment outlining grand jury charges against Lumumba, Owens and Banks. Lumumba faces five charges, including one count of federal program bribery and another count of money laundering. Banks has been charged with one conspiracy to commit federal program bribery, honest services wire fraud and money laundering, in addition to a count of federal program bribery. At least seven people have pleaded guilty in relation to the scandal. “This indictment is a horrible example of a flawed FBI investigation,” Owens told reporters after he pleaded not guilty Thursday.

Persons: JACKSON, —, “, Chokwe Antar Lumumba, ”, Lumumba, Jody Owens, Owens, Aaron Banks, Angelique Lee, Barbara Gauntt, Banks, Owens ’, Sherik Marve Smith, ” Smith, “ Banks, Jackson, ” Todd Gee, Ward, ” Owens Organizations: Miss, City, Democrat, Department of Housing, Urban, Banks, Jackson City, Clarion, Ledger, USA, Democratic, NBC, Authorities, Federal, Justice Department, FBI, Courthouse, “, Southern, Southern District of, ” Locations: Mississippi’s, Jackson, Hinds, Nashville , Tennessee, Fort Lauderdale , Florida, Owens, U.S, Southern District, Southern District of Mississippi, Africa

☆ Philadelphia Phillies capital raise values the team at around $3 billion
▼ + stars: | 2024-11-08 | by ( Michael Ozanian | ) www.cnbc.com time to read: +1 min

Philadelphia Phillies managing partner and principal owner John Middleton signs autographs prior to the 2024 London Series game between the New York Mets and the Philadelphia Phillies at London Stadium in London on June 9, 2024. The Philadelphia Phillies recently raised close to $500 million in capital from three new investors in a transaction that values the Major League Baseball team and its 25% stake in regional sports network NBC Sports Philadelphia at about $3 billion, according to two people familiar with the deal. Given that limited-partner stakes typically go for about 20% less than control stakes because LPs have no say in how the team is run, the $3 billion valuation equates to roughly a $3.7 billion control valuation. A little more than a year ago, Middleman purchased a 16.25% stake in the Phillies at a grossed up valuation of $2.8 billion. Based on revenue multiples, a $3.7 billion control valuation for the Phillies would be eight times 2023 revenue, compared with multiples of 5.3 for the Orioles and 6.7 for the Mets, according to historic revenue calculations.

Persons: John Middleton, Stanley, Middleton, Mitchell Morgan, Guntram Weissenberger, Steve Cohen Organizations: Philadelphia Phillies, New York Mets, London, The Philadelphia Phillies, Major League Baseball, NBC Sports Philadelphia, Phillies, Baltimore Orioles, Orioles, Mets Locations: London

☆ Amy Coney Barrett: Meet the last best hope for Supreme Court liberals
▼ + stars: | 2024-11-08 | by ( Joan Biskupic | ) edition.cnn.com time to read: +19 min

CNN —Supreme Court Justice Amy Coney Barrett stands apart. And that is why Barrett has become the best hope for what remains of the liberal wing, particularly after Trump’s election victory. As Trump returns to the White House, the Supreme Court may be even more positioned to check the balance of powers. Nonetheless, progressives have few options, and an uncertain horizon, and cannot help but imbue Barrett with hope. “As Justice Barrett said…,” is a common Kagan refrain, too.

Persons: Amy Coney Barrett, Donald Trump’s, Barrett, Trump, imbue Barrett, Sandra Day O’Connor, Reagan, Anthony Kennedy, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Barrett homed, Sotomayor, …, Kagan, Kagan interjected, “, Richard Glossip, Brett Kavanaugh, Thomas, Roberts, Kavanaugh, Adam Feldman, Jake Truscott, Republican centrists O’Connor, Kennedy, Lewis Powell, Ruth Bader Ginsburg, Dobbs, Antonin Scalia, Scalia’s, Scalia, Jesse, Warren Burger, Clarence Thomas, Samuel Alito, Neil Gorsuch, they’ve, Gorsuch, ” Barrett, Jackson, Alito, ” Alito, Biden, Justice Roberts, CNN Kagan, Barrett’s, Roe, Wade, ‘, ’ Barrett, Adrian Zackheim, Justice Barrett, ” Zackheim, Sentinel publicists, Sen, Mitch McConnell, McConnell, Barack Obama’s, Merrick Garland, Ginsburg Organizations: CNN, Republican, White, Republicans, Representatives, Notre Dame, Trump, Democratic, Glossip, Jackson, Health Organization, New York, Association, Harvard, ., Biden, Capitol, of Education, Ronald Reagan, Sentinel, Penguin Random, Wall Street, University of Louisville McConnell Center Locations: America, Oklahoma, ”, . United States, New Orleans, Washington, Haiti, Idaho, California, Louisville

☆ Democratic Sen. Jacky Rosen will win reelection in Nevada, CNN projects
▼ + stars: | 2024-11-08 | by ( Arit John | ) edition.cnn.com time to read: +2 min

CNN —Democratic Sen. Jacky Rosen will win reelection in Nevada, CNN projects, holding off Republicans from adding to their incoming majority in the US Senate. Rosen, a former synagogue president who was first elected in 2018, is projected to narrowly defeat Army veteran Sam Brown. With Donald Trump projected to win Nevada, Rosen becomes one of several Democrats who were able to win Senate seats this year while the president-elect was carrying their states. Democrats focused much of their attacks on Brown over abortion rights – with Rosen attacking him on the issue even before he emerged from a June primary. Rosen, for her part, campaigned on being a staunch supporter of abortion rights.

Persons: Democratic Sen, Jacky Rosen, Rosen, Sam Brown, Donald Trump, Brown, Amy Brown, Adam Laxalt, Catherine Cortez Masto, backtrack Organizations: CNN, Democratic, Army, Nevada, Silver State, Republican, Trump, Senate Locations: Nevada, Texas, Nevada from Texas

☆ A Qantas flight made an emergency landing in Sydney due to a suspected engine failure on a Boeing 737
▼ + stars: | 2024-11-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Qantas flight QF520 had to make an emergency landing in Sydney after a suspected engine failure. As of June 30, the Qantas Group had 347 aircraft, 75 of which were Boeing 737-800 planes. AdvertisementA Qantas flight headed to Brisbane had to make an emergency landing at Sydney Airport after a suspected engine failure. Qantas flight QF520 made a safe landing just after 1 p.m. local time, a spokesperson for Sydney Airport told Business Insider. As of June 30, the Qantas Group had 347 aircraft, 75 of which were Boeing 737-800 planes.

Persons: QF520, — Organizations: Qantas, Boeing, Qantas Group, Service, Sydney Airport, Business, Aviation, Fighting, Sydney, Airbus, Alaskan Airlines Locations: Sydney, Brisbane, Tokyo, Oregon, California

☆ Oil prices fall as Hurricane Rafael expected to start weakening
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: +1 min

Mobile offshore drilling units stand in the Port of Cromarty Firth in Cromarty, U.K., on Tuesday, June 23, 2020. Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will affect U.S. oil and gas output declined while the market continues to weigh how President-elect Donald Trump's policies might affect supplies. Brent crude oil futures fell 26 cents, or 0.3%, to $75.37 per barrel by 0209 GMT. U.S. West Texas Intermediate (WTI) crude gained 35 cents or 0.5% to $72.01. A strong dollar makes oil more expensive for other currency holders and tends to weigh on prices.

Persons: Donald Trump's, Brent, Rafael Organizations: . West Texas, U.S, National Hurricane Center Locations: Port, Cromarty, Gulf, Mexico, Brent, of Mexico, U.S, Iran, Venezuela, China

Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021. "Our primary focus is #Bitcoin," Dorsey proclaimed on Twitter. The name of the business unit would be TBD. Block called it Web5 and said the mission was to create a more decentralized, secure and private internet. Dorsey said in a tweet in mid-2022 that Web5 "will likely be our most important contribution to the internet."

Persons: Jack Dorsey, Shiba Inu, bitcoin, Dorsey, Amrita Ahuja Organizations: Twitter Inc, Twitter, Square Inc Locations: Miami , Florida, U.S

☆ China's stimulus plans are choking the profitability of its megabanks, analysts say
▼ + stars: | 2024-11-08 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A man on a mobile phone walks past a Bank of China Ltd. branch in Guangzhou, Guangdong Province, China, on Thursday, March 27, 2014. China's largest state-owned banks are likely to see their record low profit margins decline even further as Beijing's broader stimulus package comes into play, analysts say. Still, that was 18 basis points lower from the beginning of this year. At the end of June, overall commercial bank margins dropped to 1.54%, a record low, according to official data from the national financial regulatory administration. They see NIM for state-owned banks contracting by 15-25 basis points in 2024, and "mid- to- high single-digit basis points" next year.

Persons: Agricultural Bank of China —, NIM, Karen Wu Organizations: Bank of China Ltd, — Industrial, Commercial Bank of China, China Construction Bank, Bank of China, Agricultural Bank of, Bank of, CNBC, Morningstar Locations: Guangzhou, Guangdong Province, China, China's, Agricultural Bank of China, Bank of China, Beijing

☆ Stores don’t sell your favorite product anymore. That’s on purpose
▼ + stars: | 2024-11-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

That’s just one example of companies eliminating an endless assortment of products to boost profit. Hormel is cutting some pepperoni products. Cutting products boosted companies’ profit margins by 0.9% compared to 2019, L.E.K. The strategy is going to make customers’ choices “a little simpler” and reduce re-stocking work for store employees, he said. Companies can upset customers who are loyal to a specific version of a product, pushing them to switch to another brand or stores’ private-label versions.

Persons: New York CNN — Pepperoni, Applegate, Jennie, Hormel, ”, That’s, Gene J, Rob Wilson, Levi’s, Todd Vasos, Scott Olson, Gina Goetter, Bob Eddy, Taco Bell, David Garfield, “ We’ve Organizations: New, New York CNN, CNN, Companies, L.E.K, Consulting, Starbucks, Hasbro, Dollar, BJ’s Wholesale, Walmart Locations: New York, Turkey, mayo, Asia

Search resuls for: "June"

25 mentions found