DIRS.INFO The most relevant business & tech news

☆ European shares edge higher as energy, bank stocks gain; US inflation data eyed
▼ + stars: | 2023-05-08 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.2% to 466.29 points by 0805 am GMT. The index was pressured last week when, unlike the Fed, the European Central Bank signalled more rate hikes were on the table. A slump in energy shares on weakness in crude prices also added to the declines. Energy (.SXEP) was the top sectoral gainer on Monday, up 0.8% as crude prices strengthened. Dutch Central Bank President Klaas Knot on Sunday said the ECB's rate hikes are starting to have an effect, but more will be needed to contain inflation.

☆ European stocks rise to start the week as traders digest rate hikes; FTSE closed
▼ + stars: | 2023-05-08 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

LONDON – European indexes started the trading week on a stronger footing, with traders looking ahead to more corporate earnings, economic data and a Bank of England rate decision this week. The U.K.'s FTSE 100 will be closed Monday for a public holiday after the coronation of King Charles III. Market players have spent weeks juggling concerns over inflation and interest rates, with the Bank of England due for a rate-setting meeting on Thursday. Both the Federal Reserve and the European Central Bank hiked rates by a quarter of a percentage point last week, with many now expecting the former to start cutting rates at some point during the summer. Minutes from Japan's March monetary policy meeting showed board members were concerned over inflation accelerating at a higher-than-expected pace.

☆ How to trade Volkswagen and BMW quarterly earnings results based on history
▼ + stars: | 2023-05-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

German carmakers Volkswagen and BMW are set to announce their first-quarter earnings later today. Similarly, Volkswagen reported significantly increased deliveries for the same period despite weaker business in China, its most important single market. The stock also surpassed the benchmark by 5.4 percentage points a week since the results and 6.5 percentage points a month out under the same scenario. However, its fortunes reverse for the better, with shares outperforming the benchmark after a week since the results 67% of the time. The German company shares beat the DAX by 1, 3, and 8 percentage points over the day, week, and month since the results, respectively, on exceeding expectations.

☆ The healthcare system is racing to unleash breakthrough AI models despite profound unanswered questions
▼ + stars: | 2023-05-03 | by ( Blake Dodge | ) www.businessinsider.com time to read: +9 min

The behemoth health-records company Epic, which touches all corners of the healthcare ecosystem, is embracing generative AI as a necessary priority. For eight months, he and a team at Microsoft have been working with OpenAI to explore how generative AI could work in healthcare. Scientific, ethical, and legal mysteries behind ChatGPTLee's panel drew top leaders from tech and healthcare, and their questions on generative AI were sweeping. OConnor edited the note to fix a mistake and clicked a button to transfer it directly into the patient's health record. Generative AI is far from a slam dunk, HIMSS's Bogdan said, citing adoption and privacy concerns.

☆ German makers of Leopard 2 tank settle legal dispute
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

DUESSELDORF, May 2 (Reuters) - German arms makers Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann have settled a legal dispute over the intellectual property rights to the Leopard 2, one of the world's most advanced battle tanks, a court said on Tuesday. A boom in defence orders due to the war in Ukraine, and in particular demand for Leopard tanks from Kyiv to help in the fight against Russian forces, has boosted both companies. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 and Munich-based KMW makes its chassis. Rheinmetall said both parties had sought to settle the dispute as quickly as possible with the aim of returning to day-to-day business. Earlier this year, Germany bowed to pressure from allies and agreed to send Leopard tanks to Ukraine.

☆ How to trade Deutsche Bank and Barclays quarterly results based on history
▼ + stars: | 2023-04-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Two of Europe's largest banks — Britain's Barclays and Germany's Deutsche Bank — are set to announce their first-quarter earnings later on Thursday. In such a scenario, CNBC Pro's analysis found that shares, on average, outperformed the FTSE 100 index by 2.7 percentage points on the day. The stock also beat the benchmark by 2.5 percentage points over a week since the results, and 13.9 percentage points a month out. BARC-GB 1Y line Meanwhile, Deutsche Bank shares have more often than not performed poorly compared to the DAX index , according to CNBC Pro's analysis. Deutsche Bank shares were trading at 9.52 euros per share ($11.87) on Wednesday afternoon.

Bowing to pressure from allies, Germany's government this year agreed to send Leopard tanks to Ukraine, one of the big ticket items sought by Kyiv as it gears up to mount a counteroffensive against Russian forces. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 while the Munich-based KMW makes its chassis. A district court in Munich in a statement on Tuesday said KMW was seeking legal protection to prevent Rheinmetall from making statements it saw as "untrue, misleading factual assertions that violate its rights". Higher defence spending pushed Rheinmetall to record earnings last year and saw the company enter Germany's DAX blue-chip index. ($1 = 0.9106 euros)Writing by Matthias Williams Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ A.I. takes center stage at HIMSS health conference
▼ + stars: | 2023-04-21 | by ( Ashley Capoot | ) www.cnbc.com time to read: +5 min

HIMSS conference attendees walk the exhibition floor Source: HIMSSDebates over artificial intelligence and its role in health care took center stage at the HIMSS Global Health Conference in Chicago this week, where more than 35,000 physicians, executives, engineers and health-care workers convened to discuss the latest advancements in health and technology. Generative AI refers to programs that can use fairly complicated prompts from end users to generate text or images. Just as generative AI has captured the attention of the general public, it has also captivated the medical community. HIMSS attendees told CNBC they believe generative AI can help with these tasks. More than 35,000 people attended the HIMSS conference in 2023 Source: HIMSS

US inflation, Fed rates and marketsU.S. stocks ended sharply higher on optimism the Fed could be nearing the end of its aggressive rate hiking cycle. The yield on two-year Treasuries , which reflect the outlook on interest rates, rose 0.5 basis point to 3.977% and 3.3 basis points to 3.454% on 10-year notes . "That's why we do not have those dramatic moves in U.S. Treasuries on the back of better-than-expected inflation data." The dollar index fell 0.5% to its lowest level in more than two months, while the yen strengthened 0.29% to 132.74 per dollar. The Aussie dollar rose 1.0% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs.

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 10, 2023. Futures also showed expectations rose of the Fed cutting rates noticeably in September, and more deeper by December. "The way we've been trading over the last sessions indicates that the market is more positively positioned with regards to their exposure to Treasuries," Skiba said. The dollar index fell 0.48%, at its lowest in two months, while the yen strengthened 0.55% at 132.41 per dollar. The Aussie dollar rose 1.0% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs.

☆ Stocks and gold cheer U.S. inflation picture, while dollar slides
▼ + stars: | 2023-04-13 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 10, 2023. The annual 5% headline rise for U.S. inflation was the smallest since May 2021 and down from 9.1% last June. The dollar index was down 0.2%, near its lowest in two months, while U.S. stock futures , rose 0.1-0.2%, suggesting a modest rally at the open. The Aussie dollar rose 0.6% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs. Alibaba shares (9988.HK) fell by as much as 5% at one stage, but later pared losses to close 2% lower.

☆ Dollar, stocks slip after Fed minutes spur recession fears
▼ + stars: | 2023-04-12 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

Fed staff assessing the potential fallout of banking stress projected a "mild recession" later this year. But the minutes showed policymakers ultimately agreed to higher interest rates as data at the time showed few signs of inflation pressures abating. Money markets initially trimmed expectations for a Fed rate hike in May, pricing in a 65.2% chance of a 25-basis-point move, CME Group's FedWatch Tool showed. MSCI's gauge of stocks across the globe (.MIWD00000PUS) closed down 0.08%, while the pan-European STOXX 600 index (.STOXX) rose 0.13%. The dollar fell with an index measuring the U.S. currency against six peers down 0.558%.

The inflation data came on the heels of last Friday's employment report, which showed a solid pace of job growth in March and the unemployment rate falling back to 3.5%. In Europe, stock markets rose after the U.S. data and the broad STOXX 600 index was last up 0.5% (.STOXX) and holding near one-month highs. BONDS UP, DOLLAR DOWNU.S. bonds yields fell after the CPI numbers. Rate-sensitive two-year Treasury yields were last down 12 basis points at 3.93% , while U.S. 10-year yields fell 6 bps to 3.37%. The dollar fell with an index measuring the U.S. currency against six rivals down 0.4% at 101.72.

REUTERS/StaffApril 12 (Reuters) - World stocks and bond yields stalled on Wednesday as markets anticipated crucial U.S. inflation data which could give signals on how soon the Federal Reserve will end its aggressive rate hikes. Markets were in wait-and-see mode ahead of the data, with the pan-European STOXX 600 index inching up 0.3% by 0820 GMT, while Britain's FTSE (.FTSE) was up 0.6%. Government bond yields were also little moved with benchmark U.S. 10-year Treasury yields unchanged on the day at 3.43%. "We do not assume that the discrepancy between Fed and market expectations will end today or in the near future," Reichelt said. With oil prices rising again and labour market cooling only gradually, risk remains tilted for core inflation to remain elevated for longer," they said.

☆ Asian stocks ease ahead of US inflation data, Fed minutes
▼ + stars: | 2023-04-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The Eurostoxx 50 futures was down 0.16%, German DAX futures up 0.01% and FTSE futures down 0.07%. The consumer price index is expected to show core inflation rose 0.4% on a monthly basis and 5.6% year-over-year in March, according to a Reuters poll of economists. Markets are now pricing in a 66% chance of the Fed raising interest rates by 25 basis points in May and then pausing for the subsequent meetings, according to the CME FedWatch tool. The Fed last month raised interest rates by a quarter of a percentage point, taking it to a range of 4.75% to 5.00%. With oil prices rising again and labour market cooling only gradually, risk remains tilted for core inflation to remain elevated for longer," they said.

REUTERS/Tom KaeckenhoffLEVERKUSEN, Germany, April 5 (Reuters) - Incoming Bayer (BAYGn.DE) chief executive Bill Anderson says he is keeping an open mind on whether to break up the company into smaller pieces, as some fidgety investors want. "That's why I said I am going to have an open mind," he said. On the stock market Bayer, once the most valuable company on Germany's DAX blue-chip index, is now worth only about the same as it paid for Monsanto. At Bayer, he said he did not have his own desk and made use of the company's meeting rooms as needed. Professing a love of American football, hiking and snowboarding, he was also effusive about Bayer as a company and its heritage of medicines such as Aspirin.

☆ Stocks meander as US jobs dry up, kiwi jumps on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Futures indicated European markets were set for a broadly lower open, with Eurostoxx 50 futures down 0.26%, German DAX futures down 0.12%. Two-year treasury yields , which closely track short-term rate expectations, dived almost 15 basis points and the dollar tracked the move to hit two-month troughs. Elsewhere investors see a few more rate hikes in store in Europe, where German exports have turned surprisingly strong. The euro flat at $1.0952, just shy of a two-month high it hit overnight on the dollar at $1.0973. Commodity markets are settling after Monday's surge in oil prices on news of surprise OPEC+ production cuts.

☆ EY fined, banned from some audits in Germany over Wirecard scandal
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

APAS said in a statement that it had imposed sanctions on Wirecard's auditing company and five individual auditors, without referring to EY by name. Wirecard's annual report names EY as the auditor for that period. Wirecard filed for insolvency in June 2020, owing creditors almost $4 billion, after disclosing a 1.9 billion euro hole in its accounts that EY said was the result of a sophisticated global fraud. The ban forbids the auditor from participating in tenders for audits of certain companies for two years. This includes all listed companies as well as the majority of the financial sector consisting of banks and insurance companies.

☆ Asian stocks rally as bank jitters calm, Alibaba lifts mood
▼ + stars: | 2023-03-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Alibaba's Hong Kong shares (9988.HK) shot up 15%, while the company's U.S.-listed shares closed 14.3% higher. The news lifted investor confidence in the wider Chinese tech sector, with shares of Alibaba's e-commerce rival JD.com Inc (9618.HK) 7% higher, and gaming giant Tencent Holdings Ltd (0700.HK) jumping 5%. "Alibaba's split may pave the way for other Chinese tech giants to do similar," CMC Markets analyst Tina Teng said. "This helps break down the monopolistic power of these conglomerates, which complies with the Chinese government's regulatory overhaul over antitrust issues." Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.41%, German DAX futures up 0.38% and FTSE futures up 0.08%.

☆ World stocks gyrate as bank contagion fears bite
▼ + stars: | 2023-03-24 | by ( Koh Gui Qing | ) www.reuters.com time to read: +5 min

"The growing sense of unease about the global banking system is heightening volatility in stock markets around the world," said Nigel Green, chief executive of deVere Group, a financial advisor. The failure of U.S. regional banks Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) this month triggered fears of a banking contagion and prompted U.S. Treasury Secretary Janet Yellen on Thursday to pledge action to safeguard bank deposits. JP Morgan Chase (JPM.N) dropped 1.52%, the S&P 500 banks index (.SPXBK) was down 0.33%, while the KBW regional bank index (.KRX) climbed 2.92%. "I don't expect this volatility (in bank stocks) to subside anytime soon," said Peter Doherty, head of investment research at private bank Arbuthnot Latham in London. Doherty said issues of "contagion risk within the U.S. banking sector" were undoubtedly weighing on appetite for bank stocks elsewhere.

The index of top European banks (.SX7P) was down 1% in early trading, with German banking giants Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE) both falling 0.8%. The rescue of Credit Suisse, which followed the collapses of California-based Silicon Valley Bank (SVB) (SIVB.O) and New York-based Signature Bank (SBNY.O) ignited broader concerns about investors' exposure to a fragile banking sector. The decision to prioritise shareholders over Additional Tier 1 (AT1) bondholders rattled the $275 billion AT1 bond market and some Credit Suisse AT1 bondholders are seeking legal advice. "The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a 'viability event', in particular if extraordinary government support is granted," FINMA said. However, some watchers think the banking system is more vulnerable to rumour and rapid moves in an era of widespread social media use, posing a challenge for regulators trying to tamp down instability.

☆ Asian shares surge, dollar slips after Fed hints at rate pause
▼ + stars: | 2023-03-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, March 23 (Reuters) - Asian shares spiked on Thursday and the dollar slid after the U.S. Federal Reserve hinted it could pause interest rate rises following turmoil in the banking sector, though it also reiterated its commitment to fighting sticky inflation. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1% to touch a two-week high of 515.62. Wall Street ended sharply lower overnight as investors digested the Fed's policy statement and comments from Fed Chair Jerome Powell's press conference. In the currency market, the dollar index , which measures the dollar against other major currencies, fell nearly 0.5% to fresh seven week low of 101.92. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 10 basis points at 3.881%.

☆ Microsoft is using OpenAI to make it easier for doctors to take notes
▼ + stars: | 2023-03-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +4 min

Microsoft 's speech recognition subsidiary Nuance Communications on Monday announced Dragon Ambient eXperience (DAX) Express, a clinical notes application for health-care workers powered by artificial intelligence. DAX converts verbal patient visits into clinical notes, and it sends them through a human review process to ensure they are accurate and high-quality. DAX Express, in contrast, generates clinical notes within seconds so that physicians can review automated summaries of their patient visits immediately. Alysa Taylor, a corporate vice president in the Azure group at Microsoft, told CNBC that DAX Express adheres to the core principles of Microsoft's responsible A.I. She said, ultimately, using DAX Express will help improve both the patient experience and the physician experience.

☆ Asian shares rise as fears about rapid Fed hikes, bank crisis fade
▼ + stars: | 2023-03-15 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The rally is unlikely to continue in Europe with European stock futures indicating a lower open. Eurostoxx 50 futures were down 0.07%, German DAX futures up 0.01% and FTSE futures down 0.04%. "It's clearly dominated by a relief rally rather than any inflation angst," said Robert Carnell, regional head of research, Asia Pacific at ING. There were worries that stronger-than-expected data might lead the Fed to go for jumbo-sized hikes to battle inflation. Chinese shares gained with Shanghai Composite Index (.SSEC) 0.46% higher, while Hong Kong's Hang Seng index (.HSI) up 1.75%1.4%.

☆ Volkswagen to invest $193 billion over 5 years to hit EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

[1/2] The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which opened its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. The investments come as Volkswagen, Europe's top carmaker, tries to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. In the latest investment plan, up to 15 billion euros is ringfenced for battery plants and raw materials. VW outperforms EU rivalsThe investment decisions are targeted towards fulfilling a 10-point plan developed by Volkswagen CEO Oliver Blume after he took the helm in September. The most likely actual stock market candidate is battery unit PowerCo.

Search resuls for: "DAX"

25 mentions found