DIRS.INFO The most relevant business & tech news

☆ The Fed has set out on a 'recalibration' of policy. Here's what Powell's new buzzword means
▼ + stars: | 2024-09-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a "recalibration" of policy at a pivotal moment for the central bank. "This recalibration of our policy stance will help maintain the strength of the economy and the labor market, and will continue to enable further progress on inflation as we begin the process of moving forward a more neutral stance," Powell said. Financial markets weren't quite sure what to make of the chair's messaging in the meeting's immediate aftermath. However, asset prices soared Thursday as investors took Powell at his word that the unusually outsized move wasn't in response to a substantial slowing of the economy. The Dow Jones Industrial Average and S&P 500 jumped to new highs in trading Thursday after swinging violently Wednesday.

Persons: Jerome Powell, Powell, didn't, Tom Porcelli Organizations: Financial, Dow Jones Industrial

☆ Yellen sees no 'showstoppers' on G7 Ukraine loan backed by Russian asset earnings
▼ + stars: | 2024-05-25 | by ( ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen attends an interview with Reuters Editor in Chief Alessandra Galloni in Washington, U.S., April 25, 2024. U.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her discussions with fellow G7 finance ministers about a larger loan to Ukraine backed by the income of frozen Russian sovereign assets. Yellen told Reuters in an interview on the sidelines of a G7 finance leaders meeting that not all of the technical details of the loan proposal need to be worked out this weekend. G7 leaders are due to meet next month in Puglia, southern Italy. "I think there is a general view that we should express a common set of concerns to China," she said.

Persons: Janet Yellen, Alessandra Galloni, Yellen, I've Organizations: Treasury, Reuters, U.S . Treasury, Ukraine Locations: Washington , U.S, Ukraine, Stresa, U.S, Puglia, Italy, Japan, Germany, France, Britain, China

☆ Biden warns on Beijing's South China Sea moves in Philippines-Japan summit
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +2 min

Leaders from the three nations are meeting in a first-ever trilateral summit in a show of solidarity as China's assertiveness in the South China Sea has raised tensions in the region. Topping the meeting's agenda is China's increasing pressure in the South China Sea, which has escalated despite a personal appeal by Biden to Chinese President Xi Jinping last year. China claims almost the entire South China Sea, including the maritime economic zones of neighboring nations. Japan has a dispute with China over islands in the East China Sea. Chinese foreign ministry spokesperson Mao Ning said "China's activities in the East China Sea and South China Sea fully comply with international law" and that they were prepared to resolve issues through "dialogue and consultation" but criticized both the U.S. and Japan for ratcheting up tensions.

Persons: Joe Biden, Fumio Kishida, Ferdinand Marcos, Andrew Harnik, Beijing's, Joe Biden's, Ferdinand Marcos Jr, Biden, Xi Jinping, Thomas Shoal, Marcos, Thomas, Mao Ning Organizations: Japanese, White, Washington , DC, South China, Getty, East China, U.S Locations: Washington ,, South, China, U.S, Japan, Philippines, Manila, . U.S, American, Washington, South China, States, East

MCALLEN, Texas (AP) — SpaceX would acquire public land in Texas to expand its rocket-launch facilities under a tentative deal that is moving forward after months of opposition from nearby residents and officials near the U.S.-Mexico border. Although SpaceX is proposing swapping the public land for 477 acres, it has not yet purchased that property. The deal started in 2019 as a conversation between the state and SpaceX. But it was finally worked out in 2023, said David Yoskowitz, the Texas Parks and Wildlife Department's executive director. We the voters of Texas have given you money to purchase valuable land," Reed said, referring to the state's Centennial Parks Conservation Fund.

Persons: ” Jeffery D, Hildebrand, Greg Abbott, David Yoskowitz, Cyrus Reed, Reed, Kathryn Lueders, ” Organizations: SpaceX, Texas Parks and Wildlife, Boca, Gov, Texas Parks, Wildlife Department's, Democratic, Texas General Land, Lone Star, Sierra Club, Parks Conservation Fund, Texas, NASA, “, Texans, Wildlife Locations: MCALLEN , Texas, Texas, U.S, Mexico, Boca Chica, Brownsville , Texas, Austin, Florida

Earlier in a statement from the Ukrainian presidency, Yermak said a simple cease-fire wouldn't end Russia's "aggression” on Ukraine: “It’s definitely not the path to peace. “Peace is something that Ukraine needs,” he said during a break in the talks Sunday. He said that the purpose of the talks was to get ready for the moment when Russia might join a peace discussion. He said that neither Ukraine nor Russia was ready to make territorial concessions. “The war is far from over and peace is still nowhere in sight," the Swiss department of foreign affairs said in a statement previewing Sunday's talks.

Persons: Volodymyr Zelenskyy's, Andriy Yermak, Zelenskyy, Yermak, —, “, ”, “ It’s, Ignazio Cassis, Moscow isn't, Cassis, hasn't, that's, ” Cassis Organizations: —, Kyiv, Swiss Locations: DAVOS, Switzerland, Russia, Swiss, Davos, Ukrainian, Europe, Asia, Africa, Ukraine, Moscow, “, Denmark, Saudi Arabia, Malta, russia, ukraine

☆ Saudi Arabia may make surprise oil cuts, sending prices soaring and the futures market into backwardation, says a 30-year energy expert
▼ + stars: | 2023-11-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Oil prices fell on Thursday after OPEC delayed its meeting from November 26 to November 30. AdvertisementAs the US Thanksgiving holiday puts the stock market at a standstill, oil prices are still on the move. There are three levels at which production can be pulled back: through OPEC+, an extension of the existing voluntary cuts, and new voluntary cuts. But, what he anticipates could happen is an announcement about additional voluntary cuts from Saudi Arabia. If Saudi Arabia does implement additional cuts, then this will flip the futures curve into backwardation, he noted.

Persons: It's, Anas Alhajji, —, Alhajji Organizations: Service, West Texas, Outlook Advisors Locations: OPEC, Saudi Arabia, Nigeria, Angola, Dubai, backwardation, contango

IMF Managing Director Kristalina Georgieva did not mention the new conflict at opening events. The inability to respond extended to chair's statements issued by the Group of 20 major economies and the IMF and World Bank steering committees, which failed to mention the conflict. "You know, without peace, it's hard for people to get stability, growth, look after their children, get jobs," he said. But conflicts remain the biggest challenge to the global economy, said Josh Lipsky, a former IMF official who directs the Atlantic Council's GeoEconomics Center. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two."

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, Group, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Bali, Africa

The Group of 20 major economies did reach consensus on an official communique but omitted any mention of the Israel-Hamas war. Senior World Bank Group officials were more pointed in a statement to staff, saying they were "shocked and appalled by the unprecedented escalation of violence in Israel and Gaza." "We condemn terrorism in all forms, including the abhorrent targeting of innocent civilians and kidnapping," the leaders of the World Bank, the International Finance Corp and the Multilateral Investment Guarantee Agency, said in an internal statement seen by Reuters. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two." Reporting by Andrea Shalal and David Lawder; Editing by Giles Elgood and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood, Stephen Coates Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, U.S, Treasury, Bank Group, International Finance Corp, Multilateral Investment Guarantee Agency, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Africa

☆ Key takeaways from the IMF/World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +5 min

Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.

Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S

Many of the formal speeches delivered before the green stone in the General Assembly could have been performed straight to camera, with few other people in the room (and in 2020, they were). The General Assembly, she said, actually “overshadows what the U.N. does well." In-person relations are as important, if not more so, for non-governmental organizations with stakes in the outcomes, attendees said. Many at the General Assembly, and those observing it closely from afar, declined to discuss the substance of negotiations that may never ultimately come to fruition. But the General Assembly week “provides a critical mass that allows you to do all the things that you would prefer to do in person,” Rathke said.

Persons: Volodomyr Zelenskyy, weren't, ’, Katie Laatikainen, that's, that’s, ”, Kathryn Mengerink, Scott Hamilton, Joe Biden, —, “ We’re, Stéphane Dujarric, António Guterres, we’re, “, ” Laatikainen, Jeff Rathke, ” Rathke, ” Hamilton, Michael Weissenstein Organizations: UNITED NATIONS, General, Council, Adelphi University, Assembly, General Assembly, Waitt, State Department, United Nations Security, United Nations, “ Technology, - German Institute, Johns Hopkins University, Associated Press Locations: East, Jolla , California, midtown Manhattan, Cuba, China, France, Russia, United Kingdom, Europe, New York, Britain, Mexico

BELEM, Brazil, Aug 10 (Reuters) - Amazon rainforest nations emerged from a summit this week with a stronger hand to play at upcoming United Nations climate talks, despite the meeting's lackluster final agreement, according to environmental groups. Lula will take that message on the road this year at the G20, United Nations General Assembly and U.N. COP28 climate summit. But he also applauded the symbolism of the eight Amazon countries meeting together for the first time in 14 years and joining their voices with the world's other major rainforests. STRONGER VOICERainforest nations have a stronger unified voice after the meeting, at least on paper, said Luis Roman, a representative of nonprofit WWF Peru. Rainforest nations thus far have focused on past funding commitments.

Persons: It's, Luiz Inacio Lula da Silva, Lula, André Guimarães, Marcio Astrini, Astrini, Luis Roman, Susana Muhamad, Jake Spring, Oliver Griffin, Brad Haynes, Aurora Ellis Organizations: Democratic, United Nations General Assembly, Amazon Environmental Research Institute, Observatory, WWF, Colombia's, Thomson Locations: BELEM, Brazil, Nations, Indonesia, Republic of the Congo, Democratic Republic of Congo, Colombia, Venezuela, Lula, Bolivia, WWF Peru, European, Belem, Bogota

☆ Key takeaways from China's politburo meeting on the economy
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +3 min

July 26 (Reuters) - China pledged to step up stimulus measures as the economy faces what it described as "new" difficulties and a "tortuous" recovery, following a meeting of the powerful politburo of the ruling Communist Party this week. Below are the key takeaways from the official readout of the meeting on the direction China's economic policy will take in the second half of 2023, which left many issues unaddressed. PROPERTYThe politburo removed a key phrase from the readout of its meeting in April, that cited President Xi Jinping as saying "houses are for living, not for speculation," sparking a rally in the shares of battered property firms. While markets are expecting further easing of property market regulations to slow the giant sector's downturn, the politburo flagged a "city-based" approach rather than nationwide changes. HOUSEHOLD CONSUMPTIONThe politburo reiterated it wants to turn it into a key driver of growth.

Persons: Xi Jinping, meeting's, Marius Zaharia, Lincoln Organizations: Communist Party, Investors, Beijing bailouts, Thomson Locations: China, Beijing

☆ China signals more support for real estate with a 'big change' in tone
▼ + stars: | 2023-07-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Construction on a real estate project in Yantai, Shandong province, gets under way on July 8, 2023. Nurphoto | Nurphoto | Getty ImagesBEIJING — China is changing its tone on the struggling real estate sector, paving the way for policy support. The statement reflects a "much clearer understanding about the seriousness of the situation," said Qin Gang, executive director of China real estate research institute ICR. He expects policies beneficial to the real estate market and consumption will come out in coming days. So far, the biggest real estate policy change has been this month's extension of measures to support developers, which were first revealed in November.

Persons: Larry Hu, Hu, Qin Gang, Ricky Tsang, China's, Tsang, It's, Zong Liang, Zong, Tommy Wu, Wu Organizations: Nurphoto, Getty, CNBC, Macquarie, People's Bank of China, Qin, Seng Property Development, National Bureau of Statistics, Bank of China Locations: Yantai, Shandong province, BEIJING, China

BAMBOLIM, India, July 22 (Reuters) - A draft statement by Group of 20 energy officials was edited on Saturday to reflect concerns from some members on phasing down "unabated" fossil fuels, according to documents reviewed by Reuters and two people familiar with the matter. A draft late on Friday read: "The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances was emphasized." On Saturday, the draft added: "Others had different views on the matter that abatement and removal technologies will address such concerns." The phrase "abatement and removal technologies" refers to carbon capture and removal technologies, one source said. G20 chair statements are typically edited multiple times before a final version is presented at the end of a conference.

Persons: Indian Electricity Minister R.K, Sudarshan Varadhan, Nidhi Verma, William Mallard Organizations: Reuters, Indian Electricity Minister, Thomson Locations: BAMBOLIM, India, Saudi Arabia, Russia, New Delhi, Goa, Singh

☆ 'Pointless' meetings aren't the productivity drain bosses seem to think
▼ + stars: | 2023-07-17 | by ( Sirena Bergman | ) www.businessinsider.com time to read: +3 min

Shopify is going to extreme lengths to stop its workers from attending pointless meetings. This push to keep workers out of meetings is to free up time so they can, according to the company's COO, "get shit done." But here's the thing about meetings, even "pointless" ones, and especially for a company with a lot of remote workers like Shopify: they give us an opportunity to chat. Watercoolers are hard to recreate in virtual form, but if they're going to be anywhere, it's in scheduled videocalls — in other words, meetings. Better mental health has been closely linked to productivity, so perhaps addressing loneliness would be a better use of a company's resources than discouraging meetings.

Persons: Shopify, they've, it's, impenetrably, I've Organizations: Service, Bloomberg, Independent Locations: America, Wall, Silicon

☆ There's an obvious problem with Shopify's gimmicky calculator that claims to calculate the true cost of meetings
▼ + stars: | 2023-07-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

There's a big problem with Shopify's calculator for the true cost of meetings. Shopify's COO says the salary indicator on each meeting just reflects the average salary for the role. That means the meeting's cost won't be accurate in the first place: It's just an estimate. And Shopify has swooped in with what it says is a solution: airing the cost of meetings to scare bosses into scheduling fewer of them. If there's an hour-long meeting, everyone's hourly salary will be factored into a Google calendar invite.

Persons: that's, Shopify, Kaz Nejatian, Nejatian, — Organizations: CNBC, Engineering, Bloomberg, Shopify

LONDON/DUBAI, June 1 (Reuters) - OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. It brought total output cuts to 3.66 million bpd, or about 4% of global consumption. In March 2020, it abandoned production quotas altogether, launching a Saudi-Russian price war at the onset of the COVID-19 pandemic that sent oil prices 25% lower. It quickly re-established quotas with its biggest output cut to date of about 10 million bpd, agreed in April, 2020. OPEC has said it expects oil demand growth to reach 2.33 million bpd this year as non-OPEC supplies grow by 1.4 million bpd.

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Goldman Sachs, Ahmad Ghaddar, Alex Lawler, Rowena Edwards, Maha El, Simon Webb, Barbara Lewis Organizations: LONDON, OPEC, Reuters, Organization of, Petroleum, West, Brent, Saudi Energy, Saudi, HSBC, Thomson Locations: DUBAI, Russia, West African, Nigeria, Angola, Kurdistan Region, Iraq, Vienna, Russian, China, 2H23, OPEC, London, Maha El Dahan, Dubai, Moscow

☆ Will OPEC+ announce more output cuts? Analysts have their say
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - The Organization of the Petroleum Exporting Countries with Russia and other allies, or OPEC+, meet on June 4 to discuss whether additional oil production cuts should be implemented. But going into the meeting this weekend, OPEC+ has given mixed signals on whether further cuts are likely, keeping oil prices volatile recently. HSBC:* "We think OPEC+ will wait to see the impact of the latest series of cuts before making any further changes to supply." Viktor Katona, lead crude analyst at Kpler:* "We think OPEC+ is forced to react and one way or another will be inclined to cut." "A second cut would display their fears more openly and indicates greater weakness; we construe a second cut as a bearish signal unless the cuts are extremely substantive."

Persons: Goldman Sachs, Viktor Katona, Arpan Varghese, Ashitha, Matthew Lewis Organizations: of, Petroleum, bbl, HSBC, RaboBank, Thomson Locations: Russia, OPEC, China, Bengaluru

Private equity firm Silver Lake has offered to buy Software AG for 32 euros per share, valuing the German software developer at 2.37 billion euros ($2.61 billion) and said it plans to take the company private. Software AG has backed the Silver Lake offer despite a higher 34-euro a share non-binding bid coming in from Bain-backed Rocket Software earlier this month. Some investors argue that the Silver Lake offer undervalues Software AG and that minorities never fare well in delistings. Software AG has faced criticism from shareholders over its handling of the sales process. Software AG, Rocket Software and Silver Lake all declined to comment.

While the communique made no mention of the U.S. debt ceiling stalemate, it figured constantly in discussions. "We need to remain vigilant and stay agile and flexible in our macroeconomic policy amid heightened uncertainty about the global economic outlook," they added in the communique after the meeting. G7 central bank chiefs vowed to combat "elevated" inflation and ensure expectations on future price moves remained well-anchored, a sign many of them will not let their guard down against stubbornly high inflation. CHINA AND SUPPLY CHAINSSeeking to reassure investors after recent U.S. bank failures, the G7 finance chiefs retained an April assessment that the global financial system was "resilient". In the communique, the finance leaders set a year-end deadline for launching a new scheme to diversify global supply chains.

☆ A short-term deal on debt ceiling won't change the issue, says PGIM's Daleep Singh
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA short-term deal on debt ceiling won't change the issue, says PGIM's Daleep SinghDaleep Singh, PGIM chief global economist, joins 'Power Lunch' to discuss today's debt ceiling meeting's impact on the markets.

☆ US job openings post third straight monthly decline in March
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 2 (Reuters) - U.S. job openings fell for a third straight month in March, but remained at levels consistent with a tight labor market. Job openings, a measure of labor demand, dropped 384,000 to 9.590 million on the last day of March, the lowest level since April 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for February was revised higher to show 9.974 million job openings instead of the previously reported 9.931 million. Economists polled by Reuters had forecast 9.775 million job openings. Federal Reserve officials were gathered for a two-day policy meeting on Tuesday.

☆ Mexican officials to hold talks in U.S. on fentanyl smuggling -president
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

The meeting's agenda will include other topics, including arms trafficking, the president said, without providing details on which U.S. officials would participate. U.S. officials say almost all fentanyl on U.S. streets is mass produced by powerful crime groups on Mexican soil, a claim Lopez Obrador denies. Lopez Obrador on Monday repeated that no fentanyl is synthesized inside Mexico, a claim the U.S. Drug Enforcement Administration (DEA) disputes. "In Mexico fentanyl is not produced, the raw material for fentanyl is not produced. Who is producing it?," Lopez Obrador said during a regular news conference Monday.

☆ Top Wall Street analysts expect these five stocks to fetch attractive returns
▼ + stars: | 2023-04-09 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Meta PlatformsWeakness in digital ad spending due to macro pressures has hit social media giant Meta Platforms (META) over the recent quarters. SoFi TechnologiesNext on our list is fintech firm SoFi Technologies (SOFI), which offers digital financial services to over 5.2 million members. The acquisition is expected to drive SoFi's mortgage growth and operational efficiencies and broaden its mortgage product offerings. (See SoFi Insider Trading Activity on TipRanks)PVHApparel company PVH (PVH), which owns popular brands like Calvin Klein and Tommy Hilfiger, delivered better-than-expected results for the fourth quarter of fiscal 2022. The analyst sees "an attractive risk reward profile" in PVH stock based on the company's earnings growth potential and current valuation.

ZURICH, April 4 (Reuters) - Credit Suisse (CSGN.S) will face shareholder anger on Tuesday at what will be its final annual general meeting after the bank was rescued last month by Swiss rival UBS (UBSG.S). Tuesday's shareholder meeting marks an ignominious end for the 167-year-old flagship bank founded by Alfred Escher, a Swiss magnate affectionately dubbed King Alfred I, who helped build the country's railways and then Credit Suisse. After a run on deposits, the Swiss government turned to UBS, which agreed to buy Credit Suisse for 3 billion Swiss francs ($3.3 billion), a fraction of its earlier market value. In the lead up to Tuesday, Credit Suisse said it had withdrawn certain proposals from the meeting's agenda. Meanwhile, the office of the attorney general on Sunday said Switzerland's Federal Prosecutor has opened an investigation into the Credit Suisse takeover.

Search resuls for: "meeting's"

25 mentions found