DIRS.INFO The most relevant business & tech news

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderMarch 14 (Reuters) - Silicon Valley Bank's collapse continued to pound global bank stocks on Tuesday as investors fretted over the financial health of some lenders, despite assurances from U.S. President Joe Biden and other policymakers. The European banks index (.SX7P) fell 0.6% after posting its biggest percentage loss in more than a year on Monday. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks", Ikeda added.

"Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. A furious race to reprice interest rate expectations also buffeted markets as investors bet the Federal Reserve will be reluctant to hike next week. Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks." After marathon weekend talks, HSBC HSBA.L said it was buying the British arm of SVB for one pound ($1.21).

☆ This Isn't What Millennial Middle Age Was Supposed to Look Like - The New York Times
▼ + stars: | 2023-03-14 | by ( Jessica Grose | ) www.nytimes.com time to read: +25 min

Things have been difficult for her family, she says, but one thing she isn’t worried about: a midlife crisis, looming just over the horizon. One of our questions was about whether they had experienced a midlife crisis and how they would define the term. Many people said they felt they couldn’t be having a midlife crisis, because there was no bourgeois numbness to rebel against. “Who has midlife crisis money?”The traditional midlife crisis, as presented in popular culture, at least, unfolds amid suburban ennui. We just increase our Lexapro.”Was the midlife crisis ever even real?

Chinese Premier Li Qiang takes on the job at a challenging time. China’s new premier pledged to shore up growth and restore business confidence in the world’s second-largest economy, seeking to assure the world that Beijing can overcome domestic difficulties and diplomatic tensions that have buffeted his country in recent months. Li Qiang, at his first press briefing in his new government role, acknowledged China won’t find it easy to meet its relatively conservative target of expanding gross domestic product by about 5% this year, as the government focuses on delivering stable prices, creating jobs and supplying ample housing.

Businesses, under government pressure to increase wages to boost household consumption, are struggling to motor on in the face of muted demand. Japan GDP revised down on weak consumptionPrivate consumption, which makes up more than half of the country's GDP, grew 0.3%, the data showed, downgraded from an initial estimate of a 0.5% increase. Consumption of goods was also less solid than previously estimated, the data showed. Domestic demand as a whole knocked 0.3 percentage point from revised GDP growth, slightly more than initially estimated, while net exports added 0.4 percentage point. Reporting by Kantaro Komiya and Eimi Yamamitsu Editing by Chang-Ran Kim & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Asian stocks gain as prospects of China recovery, and Fed caution
▼ + stars: | 2023-03-03 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

HONG KONG, March 3 (Reuters) - Asian shares rose on Friday on prospects for a steady economic recovery in China, and after Wall Street reversed losses overnight following remarks by the Atlanta Federal Reserve chief that signalled a measured approach raising U.S. interest rates. Global markets have been buffeted by a raft of strong U.S. data over recent weeks, including U.S. jobless claims overnight, that suggested the Fed would need to keep rates higher for longer. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.7%, on track for its first weekly rise in five. U.S. stocks rose on Thursday, reversing earlier losses, as Treasury yields pulled back from earlier highs, following the rates comments from Atlanta Fed President Bostic. The two-year yield , which rises with traders' expectations of higher Fed fund rates, rose to 4.8879%compared with a U.S. close of 4.904%.

☆ Asian stocks up on hopes Fed will adopt slow approach to more hikes
▼ + stars: | 2023-03-03 | by ( Julie Zhu | ) www.reuters.com time to read: +3 min

HONG KONG, March 3 (Reuters) - Asian shares rose on Friday after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China. Australian shares (.AXJO) were up 0.36%, helped by gains in miners and financials, while Japan's Nikkei stock index (.N225) rose 1.42%. U.S. stocks rose on Thursday, reversing earlier losses, as Treasury yields pulled back from earlier highs, following the rates comments from Atlanta Fed President Bostic. read moreThe yield on benchmark 10-year Treasury notes touched 4.0556% compared with its U.S. close of 4.073% on Thursday. The two-year yield , which rises with traders' expectations of higher Fed fund rates, rose to 4.8913%compared with a U.S. close of 4.904%.

☆ Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor day
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +6 min

"It's a pretty important investor day," said Mike Cronin, investor director at fund manager abrdn, which owns a stake in the bank. In 2020, Solomon kicked off Goldman's inaugural investor day by telling participants they should feel free to "break into open applause." A deal could broaden Goldman's revenue beyond trading and investment banking, which can be buffeted by economic cycles. The investor day is also an opportunity for the company to address questions around Solomon's leadership after bad press, Mayo said. But several presenters from the 2020 investor day have since left.

Hong Kong will issue vouchers worth HK$5,000 ($637) per person to all adults this year, half the amount issued in 2022. Hong Kong usually runs balanced budgets or surpluses, since its pegged currency system commits it to fiscal prudence. "HAPPY" HONG KONG? He also said a "Happy Hong Kong" campaign would be launched for the general public, including gourmet food fairs and harbourfront carnivals that would help stimulate consumption. ($1 = 7.8488 Hong Kong dollars)Additional reporting by Jessie Pang; Writing by Marius Zaharia and James Pomfret; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Paramount Isn’t Buffeted by Streaming Winds
▼ + stars: | 2023-02-17 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

The series ‘1923’ with Harrison Ford had its premiere on Paramount+ near the end of the recent quarter. Warren Buffett may or may not be a “Yellowstone” fan, but he sure seems to like a good drama. Paramount Global was one of the few stocks Mr. Buffett’s Berkshire Hathaway bought more of during the fourth quarter, according to a filing earlier this week. And that was during a period when the famed long-term investor made some uncharacteristic quick exits. Berkshire sold off 86% of its position in Taiwan Semiconductor Manufacturing just one quarter after first buying into the chip-making titan.

☆ New Zealand's Auckland braces for ex-cyclone Gabrielle impact
▼ + stars: | 2023-02-12 | by ( ) www.cnbc.com time to read: +2 min

Residents of New Zealand's biggest city were urged on Sunday to prepare for the impact of a storm that buffeted Australia's Norfolk Island overnight. Gabrielle, downgraded to a sub-tropical low pressure system from a Category 2 cyclone, passed over Norfolk Island, its "most destructive winds" missing the island, the Australian outpost's emergency management authority said. Wind and rain were "starting to spread across NZ from the north", with a 133 kph (83 mph) wind gust reported overnight on the country's North Island, MetService said. The storm was on track to lie off Cape Reinga at the North Island's north end on Sunday afternoon, after moving away from Norfolk Island, MetService said. "There is still considerable clean up to be undertaken and it may take a while for services such as power to be restored," Emergency Management Norfolk Island said.

☆ Ahead of State of Union address, Biden's approval is at just 41%: Reuters/Ipsos poll
▼ + stars: | 2023-02-07 | by ( Jason Lange | ) www.reuters.com time to read: +3 min

The Reuters/Ipsos poll has a margin of error of three percentage points either way. Biden will also call on the U.S. Congress to focus on advancing cancer research, expanding mental health services and beating the "opioid and overdose epidemic," the White House said. But the new Reuters/Ipsos poll showed many Americans are uncomfortable with Washington's large debts. Despite Biden's unpopularity, the poll showed that Americans prefer Democrats over Republicans on a range of issues. The Reuters/Ipsos poll, conducted throughout the United States, gathered responses from 1,029 adults, using a nationally representative sample.

☆ Ahead of State of Union address, Biden's approval is at just 41% -Reuters/Ipsos
▼ + stars: | 2023-02-07 | by ( Jason Lange | ) www.reuters.com time to read: +3 min

☆ Brutal cold seizes northeast U.S., shattering record lows
▼ + stars: | 2023-02-04 | by ( Joseph Ax | ) www.reuters.com time to read: +3 min

The air temperature at the peak reached minus 47 degrees F (-44 C), with winds gusting near 100 miles per hour (160 kilometers per hour), according to the Mount Washington Observatory. In Providence, Rhode Island, the mercury dropped to minus 9 degrees F (-23 C), well below the previous all-time low of minus 2 degrees F (-19 C), set in 1918. Several cities took emergency measures to aid residents, including opening warming centers and conducting outreach to ensure homeless people were sheltered from the brutal cold. The frigid weather was expected to be short-lived, with temperatures forecast to be significantly higher on Sunday. The high temperature in Boston on Sunday will approach 47 degrees F (8.3 C), the NWS said.

☆ Apple forecasts another drop in revenue, proclaims iPhone production problems over
▼ + stars: | 2023-02-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

For the just-ended quarter, Apple's profits missed Wall Street expectations for the first time since 2016, dragged down by iPhone sales falling for the first time since 2020. The stock was down about 2% after Chief Financial Officer Luca Maestri said that iPhone sales were likely to improve compared with the quarter ended Dec. 31. In an interview, Cook told Reuters that the production disruptions that plagued Apple's key quarter were now over. During its fiscal first quarter ended Dec. 31, Apple faced a wave of challenges that left Wall Street expecting lower sales. Apple said iPhone sales were $65.8 billion, down 8% from the year before and the first fall since 2020.

[1/4] U.S. Treasury Secretary Janet Yellen and South Africa's Finance Minister Enoch Godongwana attend bilateral talks, at the treasury offices in Pretoria, South Africa, January 26, 2023. Nevertheless Lavrov made a stopover after visiting South Africa, which his counterpart Thulisile Dladla described as a "profound honour." Eswatini relies on the United States for aid, but its absolute monarchy has suffered U.S. criticism on human rights. South Africa, alongside Russia and China, is pushing for a "multipolar" world in which geopolitical power is less concentrated around the United States. "It hasn't delivered the kind of benefits South Africa was hoping to get."

☆ At Davos, Mood Is Somber as Many CEOs Question Economic Outlook
▼ + stars: | 2023-01-17 | by ( Chip Cutter | Sam Schechner | ) www.wsj.com time to read: 1 min

DAVOS, Switzerland—The end of the free-money era has put a chill in the Swiss mountain air. Business leaders and economists gathered here this week for the World Economic Forum’s annual event say they see the world buffeted by high interest rates that central banks have pushed through to combat inflation. That has created a threat of recession, and led some of the world’s biggest companies to hold their breath—and their spending—ahead of an uncertain year.

☆ At Davos, Mood Is Somber as Many CEOs Question Economy’s Future
▼ + stars: | 2023-01-17 | by ( Chip Cutter | Sam Schechner | ) www.wsj.com time to read: 1 min

The town of Davos in Switzerland is seen on the opening day of the World Economic Forum, where politicians and top executives are gathered. DAVOS, Switzerland—The end of the free-money era has put a chill in the Swiss mountain air. Business leaders and economists gathered here this week for the World Economic Forum’s annual event say they see the world buffeted by inflation and the high interest rates that central banks have pushed through to combat it—and the threat of recession as those rates choke at least some demand. That is leading some of the world’s biggest companies to hold their breath—and their spending—ahead of an uncertain year.

☆ Bank of America says buy these stocks that generate lots of cash
▼ + stars: | 2023-01-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Higher free cash flow yields imply a company is in a stronger position to meet its debt or other obligations. Fertilizer and nitrates products maker CF Industries topped the list with a 22% free cash flow yield. Expedia also made Bank of America's list, with a free cash flow yield of 21%. General Motors also turned up on Bank of America's screen, with a free cash flow yield of 16%. Steel producer Nucor and car-and-truck dealer AutoNation also made the cut, with free cash flow yields of 21% and 13%, respectively.

☆ UK equity funds saw record $10 bln outflows in 2022-Calastone
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Equity funds shed 6.26 bln stg in 2022 -CalastoneRecord 1.17 billion stg of North American funds sold in 2022Signs of optimism returned in Q4 but UK funds shunnedGlobal ESG equity funds saw inflowsLONDON, Jan 5 (Reuters) - Investors sold a record 8.38 billion pounds ($10 billion) worth of UK-focused equity funds last year, shunning Britain as the country braces for the worst recession among major economies, a global funds network said. Calastone said on Thursday that investment fund flows in 2022 were the weakest in at least eight years, with 6.29 billion pounds pulled from equity funds as the war in Ukraine helped to drive record inflation and interest rate hikes. Fleeing into cash and fund categories perceived to be lower-risk, investors also sold a record 1.17 billion of North American funds - the first year of outflows since 2016. Exits from European equity funds hit 2.65 billion pounds, while Asia-Pacific funds saw 1 billion pounds of withdrawals. Property funds, meanwhile, have been buffeted by outflows, partly because economic downturns snuff out demand for commercial property.

☆ Oil weakens on China uncertainty; U.S. demand keeps losses in check
▼ + stars: | 2022-12-29 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Conflicting headlines about demand from top oil importer China have buffeted traders in recent weeks. Brent crude futures for February delivery fell by $1.06, or 1.3%, to $82.20 a barrel by 11:52 a.m. EST [1652 GMT]. A weaker dollar makes oil cheaper for holders of other currencies and can boost demand. Oil prices also gained some support after inventories update for last week from the U.S. Energy Information Administration. Despite a surprise build in crude oil stocks, the report itself was positive, said Giovanni Staunovo of Swiss bank UBS, adding it showed a solid rebound in implied oil demand, resulting in large draws of refined products last week.

☆ Oil weakens on China uncertainty, U.S. demand keeps losses in check
▼ + stars: | 2022-12-29 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Conflicting headlines about demand from top oil importer China have buffeted traders in recent weeks. Brent crude futures for February delivery fell by $1.01, or 1.2%, to $82.25 a barrel by 11:52 a.m. EST [1652 GMT]. A weaker dollar makes oil cheaper for holders of other currencies and can boost demand. Oil prices also gained some support after inventories update for last week from the U.S. Energy Information Administration. Despite a surprise build in crude oil stocks, the report itself was positive, said Giovanni Staunovo of Swiss bank UBS, adding it showed a solid rebound in implied oil demand, resulting in large draws of refined products last week.

☆ Oil trims losses as softer dollar offsets Chinese demand fears
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging COVID-19 cases in China. U.S. West Texas Intermediate crude futures fell $1.07, or 1.36%, to $77.89 a barrel, after reaching session lows of $76.79. A weaker dollar makes oil cheaper for holders of other currencies and can boost demand. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ Oil falls as China COVID spike dampens demand outlook
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices fell by over 2% on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap. Germany said the ban has "no practical significance" as the country has been working since spring to replace Russian oil supplies and ensure security of supply. Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested an additional 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.

SINGAPORE, Dec 29 (Reuters) - Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. Brent futures for February fell 26 cents, or 0.3%, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, or 0.3%, to $78.70 a barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. However, that comes as an Arctic freeze has forced some oil refining facilities offline, backing up crude supplies. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

Search resuls for: "buffeted"

25 mentions found