DIRS.INFO The most relevant business & tech news

☆ MetLife profit drops as economic worries hurt investment income
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - MetLife Inc's (MET.N) first-quarter profit missed Wall street estimates on Wednesday as growing economic uncertainty hurt the insurer's investment income, sending its shares down 2% in extended trading. Adjusted net investment income fell 8% to $4.6 billion in a quarter marred by a string of high-profile bank collapses that roiled financial stocks. "We remain focused on managing risk across economic cycles and controlling what we can to deliver for our shareholders and our stakeholders," Khalaf said. Adjusted premiums, fees and other revenues - excluding pension risk transfers (PRT) at MetLife - rose 3% to $11.54 billion. Rival insurer Prudential Financial Inc (PRU.N) had reported a lower-than-expected quarterly profit on Tuesday due to a decline in its assets under management.

Vaping involves heating a liquid that contains nicotine in an e-cigarette which is vaporized and inhaled by the user. “Vaping was sold to governments and communities around the world as a therapeutic product to help long-term smokers quit,” Butler said. “It was not sold as a recreational product – in particular not one for our kids. Vaping concerns across the worldResearchers have found links between nicotine addiction among adolescents and children as a result of increased vaping habits. Meanwhile, the United Kingdom is also tackling high-levels of youth vaping but is pushing it as an alternative to help long-term smokers quit.

☆ Monitoring Financial Institution Compliance
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +41 min

Compliance MonitorshipsA compliance monitor (also called an independent examiner or independent compliance consultant) is an impartial party appointed by the government to detect the root causes of the institution’s compliance failures. The purpose of a compliance monitor is not to address a particular compliance failure or punish the institution. Responded to compliance issues, in a timely manner and in a way that demonstrates that the institution takes compliance issues seriously. Compliance Department EmployeesThe monitor must evaluate the adequacy of compliance department employees, including the number of compliance employees, their experience, and their expertise. Assess the Compliance SystemsThe monitor typically engages compliance technology experts, who have specific knowledge of coding and compliance technology software, to test and evaluate the institution’s compliance systems.

☆ TikTok's owner is laying the groundwork to launch a book publisher called '8th Note Press'
▼ + stars: | 2023-05-01 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +3 min

TikTok owner ByteDance applied for a trademark for a book publishing entity called 8th Note Press. The company is also hiring staff to "discover and sign authors" and ensure "novel completion." TikTok has become a popular destination for readers to discover new books, driving up publishing sales and sparking a thriving community on the app dubbed #BookTok. Now its parent company ByteDance may be building out its own publishing arm. The company in April filed a US trademark application for a new book-publishing entity that would be called 8th Note Press.

☆ Science has finally figured out how fast and loud you should talk on Zoom
▼ + stars: | 2023-05-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +16 min

The result is the largest-ever database of one-on-one Zoom conversations. It may shed new light on what we talk about when we talk about talking today — the conversation of the future. And while the average loudness of speakers didn't change across bad or good conversations, the "good" talkers varied their decibel levels more than the "bad" talkers did. The machine found that women rated as better Zoom conversationalists tended to be more intense. Good conversationalists are those who appear more engaged in what their partners are saying.

☆ Researchers just created the largest-ever database of how we interact on Zoom. Here are their tips for making everyone like you on video chats.
▼ + stars: | 2023-05-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +16 min

The result is the largest-ever database of one-on-one Zoom conversations. And while the average loudness of speakers didn't change across bad or good conversations, the "good" talkers varied their decibel levels more than the "bad" talkers did. The machine found that women rated as better Zoom conversationalists tended to be more intense. Good conversationalists are those who appear more engaged in what their partners are saying. Studying Zoom calls may help us have better conversations on Zoom.

The sale effort comes as Millennium Trust's business is buoyed by higher interest rates adopted by the U.S. Federal Reserve to fight inflation. Credit ratings agency S&P Global Inc said last month the higher rates boost the revenue Millennium Trust receives from allowing customers to borrow against their retirement accounts. Millennium Trust will also entertain the sale of a minority stake to a private equity firm, should an outright sale not be feasible, the sources said. Millennium Trust generates north of $500 million in 12-month earnings before interest, taxes, depreciation and amortization (EBITDA), according to the sources. Raymond James, Parthenon and Millennium Trust did not immediately respond to requests for comment.

☆ Column: Europe raises green energy climate hurdles with red tape revamp: Maguire
▼ + stars: | 2023-04-25 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

EMISSIONS TRADING TWEAKSThe European Union's Emissions Trading System (EU ETS) is the region's main device for managing emissions by providing financial incentives to cut pollution while penalising high emitters. This is designed to prevent companies moving heavy polluting parts of their supply chain to areas outside of the EU ETS catchment area, and ensure that companies cannot merely outsource the dirtiest parts of the production phase elsewhere. However, this new mechanism runs the risk of eroding the cost competitiveness of hard-to-decarbonize sectors, such as steel and chemicals producers. The key now for Europe's lawmakers is to ensure that many of these new hurdles can still be cleared by key industries without undermining the economic competitiveness of the entire region. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Canada offering more than C$13 bln for VW battery plant - govt source
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowOTTAWA, April 20 (Reuters) - Canada has agreed to provide up to C$13 billion ($9.7 billion) in subsidies and a C$700 million grant to lure Volkswagen AG (VOWG_p.DE) into building its North American battery plant in the country, a government source said on Thursday. The carmaker declined to comment on the subsidies, which the source said would be disbursed over a decade. The plant will cost about C$7 billion to build, the source told Reuters, confirming an earlier report by Bloomberg News. The new Volkswagen battery plant in Canada will have a maximum capacity of 90 gigawatt hours, enough to provide batteries for more than a million cars annually, Handelsblatt reported, citing a company source familiar with the matter. PowerCo, set up last year, is targeting more than 20 billion euros ($21.94 billion) in annual sales by 2030.

[1/2] A man charges an electric vehicle (EV) at the charging hub of Indian ride-hailing BluSmart Electric Mobility in Gurugram, India, December 9, 2022. SCALING UPIndia's ride-hailing market is currently worth $13.4 billion - a tenth of China's - and penetration is just 7%, according to Statista, making the country of 1.4 billion a lucrative opportunity. BluSmart, which operates in just two cities with 5,000 vehicles, says it commands 9% market share of Delhi's ride-hailing market. In February, Uber's India chief Singh dismissed concerns about BluSmart, saying Uber still offered more diverse ride options, including scooters and autorickshaws. "In a way it (BluSmart) has forced Uber to reimagine how it wants to play in India," WEF's Khurana said.

☆ New Massachusetts bill would give companies with 4-day workweeks tax incentives
▼ + stars: | 2023-04-16 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

A new Massachusetts bill would provide financial incentives for companies with a four-day workweek. The bill would give tax credits to businesses shifting workers to a shorter week with the same pay. A UK study last year found a four-day workweek decreased stress and anxiety for nearly 3,000 workers. They also said tax credits would vary from business to business to optimize the benefits of credits, Boston.com reported. A similar bill was pulled from consideration in Maryland in March after the bill's sponsor said companies told him assistance from the government on implementing the new schedule would be more helpful than tax credits, according to WYPR.

☆ When buying a Tesla or other electric vehicle, a green auto loan could make it cheaper
▼ + stars: | 2023-04-16 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +5 min

Beyond financial credits and rebates, many car shoppers don't know they may also be able to get a better deal on a car loan associated with an electric vehicle. These so-called green auto loans aren't necessarily well-advertised, so consumers need to do their homework. There's no difference between green auto loans and other car loans, other than that the borrower might be able to get a discount for purchasing an EV. A standard internal combustion car loan is set in 12-month increments from 24 months to 84 months, with 72 months typical. By contrast, green auto loans could extend the repayment beyond the standard timeframe, at favorable rates, he said.

☆ Startup aims to help climate companies unlock billions in Inflation Reduction Act tax credits
▼ + stars: | 2023-04-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

There's a problem with tax credits, though. A September report from Credit Suisse estimates approximately $500 billion of tax credits will be monetized over the next decade. "There are a few institutional players in the market that purchase tax credits at discount to market value in exchange for buying at volume. Sellers can list their tax credits on option, get bids on those credits, and compare offers. Tax credits have a wide base of support politically because a lot of very diverse stakeholders benefit from them.

☆ Nearly half of Americans say it's unlikely they'll buy an electric vehicle as their next car: Poll
▼ + stars: | 2023-04-11 | by ( Emma Newburger | ) www.cnbc.com time to read: +3 min

Nearly half of Americans in a new poll say it's unlikely they would purchase an electric vehicle as their next car, citing the lack of charging options and the high costs as the main barriers to going electric. The findings come as the Biden administration pushes to aggressively boost EV sales and transition the country to clean energy. The White House has set a goal that up to half of all new vehicle sales be electric by 2030 in order to slash emissions and mitigate climate change. The poll found that just 35% of Americans support setting stricter auto emissions rules to encourage automakers to increase EV sales and only 27% support requiring that all new car sales be electric or hybrid vehicles by 2035. The survey also found that about half of Americans think climate policy is important, though this view is largely partisan.

☆ Tyson Foods workers strike at US chicken plant set to close
▼ + stars: | 2023-04-10 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

CHICAGO, April 10 (Reuters) - About 150 employees of a Tyson Foods Inc (TSN.N) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 employees, as it seeks to improve performance in its chicken business. Some employees quit after Tyson announced the plant would close, leaving more work for fewer employees, Licolli said. Tyson has offered to transfer plant workers to another facility in Texas, with compensation for relocating, but many do not want to uproot their lives or their families, Licolli said. Tyson also received pushback over a plan to shut a chicken plant in Glen Allen, Virginia, with 692 employees.

☆ Russia is offering bonus pay for soldiers who can destroy tanks supplied by NATO, report says
▼ + stars: | 2023-04-10 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

NATO countries such as the US, Germany, and Poland have agreed to send tanks to aid Ukraine. Leaked documents show that Russia is offering troops "financial incentives" to destroy them, per NYT. Videos of the tanks being destroyed will then be used to boost Russia's confidence, documents say. Some of the leaked documents also showed that Ukraine may deplete its air defenses by May, emboldening Russia to utilize bomber jets against Ukrainian forces. One repeated misstep by Russia was sending a fleet of unprotected tanks into an ambush in Bucha and, later, in Vuhledar.

☆ Britain to encourage smokers to swap cigarettes for vapes
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 11 (Reuters) - Up to one million smokers will be encouraged to swap cigarettes for "vapes", with pregnant women offered financial incentives to make the change in what will be a world first, the British government said on Tuesday. Under the scheme, almost one in five smokers will be given a vape - an e-cigarette - starter kit along with support to help quit smoking, the Department of Health (DoH) said. "We will offer a million smokers new help to quit. We will be funding a new national ‘swap to stop’ scheme – the first of its kind in the world." Health service figures show 9% of 11 to 15-year-olds in Britain had used e-cigarettes in 2021, up from 6% three years before.

☆ A nonprofit just joined forces with a major student-loan lender in asking a federal court to end the payment pause, saying the relief has limited the 'financial incentive' to work in public service
▼ + stars: | 2023-04-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A nonprofit filed a lawsuit on Thursday to end Biden's student-loan payment pause and prevent another extension. It comes after SoFi Bank filed a lawsuit last month to end the payment pause. The lawsuit targets Biden's continued extensions of the student-loan payment pause, and it asks the federal court in the Eastern District of Michigan to end the current pause and prevent Biden from issuing a further extension. As a result, Biden extended the student-loan payment pause, with waived interest, through 60 days after June 30, or 60 days after the Supreme Court issues a final decision on the relief's legality, whichever happens first. The bank cited revenue loss that is said was directly caused by the continued payment pause extensions.

☆ Affordable housing is the best way to prevent heat-related deaths, Phoenix's chief heat officer says
▼ + stars: | 2023-04-06 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +7 min

Phoenix's chief heat officer says more affordable housing will prevent heat-associated deaths. "It can be a little shocking," Hondula, director of the city's office of heat response and mitigation, told Insider. All these factors led Phoenix in 2021 to establish the country's first publicly funded heat office, with Hondula at the helm. Gallego told Insider in a statement that she and other city staff are working daily to address this issue. Hondula, for his part, said the heat office needs to be the biggest advocate for investments in affordable housing and homelessness services inside City Hall.

☆ The induction range may be a homeowner's next big kitchen cooking upgrade
▼ + stars: | 2023-04-04 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +3 min

As energy efficiency goals and financial incentives proliferate, more consumers are warming up to the benefits of induction cooking. Induction cooking is poised to become even more prevalent thanks to financial incentives that make adoption more compelling. Here are some things to know about induction cooking. Many pro chefs prefer itWhile conventional electric ranges have often gotten a bad rap from cooks, professional chefs often favor induction cooking. Another benefit to using induction: only the bottom or the sides of the pan get hot.

☆ Japan unveils fresh childcare plan but funding unclear
▼ + stars: | 2023-03-31 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

Under the plan, the government will take steps such as expansion of child allowances to be given without income limits. While the government has earmarked 6.1 trillion yen ($45.90 billion) for steps to arrest the declining number of children, a senior ruling party lawmaker was quoted by media as demanding an additional 8 trillion yen to fund the new measures. "A boost to child allowances alone could cost 2-3 trillion yen. "Everyone acknowledges childcare support is important given Japan's need to boost the growth rate. "Opposition parties also have no objection to boost childcare spending," said political analyst Atsuo Ito.

NEW YORK, March 29 (Reuters) - Fidelity National Financial Inc (FNF.N) will pay $3.5 million to settle New York Attorney General Letitia James' claims that the largest U.S. title insurer illegally conspired with rivals not to solicit each other's employees. Under an agreement made public on Wednesday, Fidelity also agreed to end all "no-poach" agreements within 30 days, and cooperate with James' probe into the title insurance industry. James said no-poach agreements, whether written or oral, reduce competition for workers, resulting in lower wages and benefits and impeding career growth. It promised to notify James' office if it learned of illegal no-poach agreements over the next 10 years. Reporting by Jonathan Stempel in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk concedes Twitter is now worth less than half what he paid in email about stock grants, report says
▼ + stars: | 2023-03-26 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk offered stock grants to staff that value the company at $20 billion, Platformer reported. Musk told the employees left after the last round of layoffs that they were "highly regarded." Musk also told staff he saw a "clear but difficult path" to a $250 billion valuation, Schiffer tweeted. Meanwhile, Musk reportedly emailed Twitter staff in the early hours of Wednesday to remind them about the company's remote working policy. According to Schiffer, the Twitter CEO told staff that the "office is not optional."

☆ Vacation destinations like Finland and Sicily are giving away free trips, flights, and hotels to revive tourism — see the full list
▼ + stars: | 2023-03-26 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Sicily is offering discounted airfare and hotel stays, and Finland is giving away 10 free trips. Taiwan said it will pay international visitors $165 and Hong Kong is giving out 500,000 free flights. Sicily, Finland, Hong Kong, and Taiwan are giving away free flights, hotel stays, excursions, and even straight cash. Hong KongThe central district of Hong Kong. Starting March 1, the tickets will be distributed by airlines Hong Kong Express, Cathay Pacific, and Hong Kong Airlines, Time Out reported.

Both Goldman and Fitch did not specify which small lenders were most vulnerable. The total exposure of the U.S. banking system to CRE loans was $2.5 trillion at the end of December, Fitch said. HEADWINDSThe CRE market faces headwinds that could hobble small banks. Rising interest rates have also depressed demand for CRE loans, while weighing on real estate investment trusts (REITs). Goldman's Viswanathan cited several indicators that reflected a weakening market for office real estate: declining occupancy rates, falling appraisal values and rising defaults.

Search resuls for: "Financial Inc"

25 mentions found