DIRS.INFO The most relevant business & tech news

LONDON, April 24 (Reuters) - Floating wind is viewed as the final frontier for offshore wind as turbines can be installed in deeper waters than fixed-bottom foundations, harnessing stronger and more continuous wind to generate more power. There are two main types of tender for traditional and floating wind projects. ITALYItaly is expected to hold an auction for up to 1 GW of offshore wind power, including floating technology, in 2023 or 2024. NORWAYNorway opened its first tenders to build offshore wind farms, including one area for floating wind, in a step to meet growing electricity demand at home and to build a new industry. TAIWANTaiwan is set to hold an auction for site licences and power offtake agreements for 3 GW, including offshore wind this year.

☆ Here's what I want to see before buying in a stock market that stumbled on solid bank earnings
▼ + stars: | 2023-04-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I do not understand how it could be double the price of the stock when the TVB means that if you closed the bank that's what you would get. I know the stock of Wells Fargo (WFC) didn't do much after it reported. Now, I offer the story of these banks as a preamble to what I see happening in the stock market right now. I don't want to conflate a day of good bank earnings with a month of good stock prices. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Sustainability Is the Focus of Building Refurbishment
▼ + stars: | 2023-04-13 | by ( Sponsor Post | Created Insider Studios With Kone | ) www.businessinsider.com time to read: +7 min

Both are mostly high-rise communities, growing fast and densely populated, but they represent two very different realities from a climate and sustainability perspective. One way is to focus on modernizing the buildings we already have, to create neighborhoods that adapt to the individual needs of residents. In a climate-aware, post-COVID-19 world, with an aging and tech-savvy population, the focus is now on the needs of connected micro-communities within livable cities." Data, including information from KONE elevators, can provide insights into people's movement in cities, and their changing behavior and needs. Kone"Modernizing an elevator, in an existing building, means we can reduce energy consumption by up to 70%, and a KONE elevator today is up to 90% more energy-efficient than its 1990s counterpart.

☆ JPMorgan just killed Wall Street's WFH dreams
▼ + stars: | 2023-04-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But do you think execs will be OK with their subordinates working remote while they are stuck in the office? Plenty of others, most notably Goldman Sachs' David Solomon, have touted the importance of being in the office (blah blah mentorship model blah blah). Now JPMorgan just laid the blueprint for everyone else to force their own employees back in. Here are more details, including the internal memo, on JPMorgan forcing MDs back into the office. Salt Labs wants to help low- and medium-income workers build wealth via an app that operates like a frequent-flyer program.

☆ Ray Dalio shares his thoughts on SVB, offers investing advice, and warns of a 'very risky time' ahead. Here are his 7 best quotes from March.
▼ + stars: | 2023-04-07 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +4 min

Ray Dalio shared his thoughts on SVB, offered investing advice and warned of political conflicts last month. The Bridgewater Associates founder and investing veteran also offered up his thoughts on why he thinks the next two years will be a "very risky time". I think that there is a good chance that it will produce a big decline in the value of money. Geopolitical risks"Let's remember that [the money/credit/debt/market/economic dynamic] is being accompanied by the internal conflict dynamic (most importantly the 2024 US elections that are coming up) and the external conflict dynamic (most importantly the US-China conflict and the US-NATO-Russia conflict, though others like that with Iran are notable). In a nutshell, it looks to me like the next two years will be a very risky time."

☆ Is global warming helping loggerhead turtles colonise the Med?
▼ + stars: | 2023-04-05 | by ( Borja Suarez | ) www.reuters.com time to read: +3 min

REUTERS/Borja SuarezTALIARTE, Spain, April 5 (Reuters) - Growing numbers of loggerhead sea turtles are nesting and laying eggs on western Mediterranean beaches in what some scientists suggest could be a case of climate change causing habitat expansion of a threatened species. Along with the warming sea water, another factor probably benefiting the world's largest hard-shelled turtle, which is considered a vulnerable species, are protection programmes in countries like Spain and Cape Verde. The group rescues injured turtles in Spain's Canary Islands and studies their population in Cape Verde, the eastern Atlantic's main reproduction area. Their size and hard shell generally protect them from predators, but fishnets, ship rotors and pollution have become significant threats. Reporting by Borja Suarez, writing by Inti Landauro, editing by Andrei Khalip and Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

☆ 'People want to do the right thing': Why 79% of hotel guests say you should tip — but only 30% do
▼ + stars: | 2023-04-01 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

They want to do the right thing," says Diane Gottsman, an etiquette expert and owner of the Protocol School of Texas. Run your credit card at a restaurant, and your server will hand you a receipt with a "tip" line. In a recent survey from hotel software firm Canary Technologies, 79% of hotel guests said they think workers should get tips. But hotel workers in the survey said only about 30% of guests typically tip. As for a tip, you don't need to break out your wallet for directions to a nearby coffee shop, says Gottsman.

☆ 'Nationalizing bond markets' left central banks unprepared for inflation, top HSBC economist says
▼ + stars: | 2023-03-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

"Part of the problem with QE was the fact that you're basically nationalizing bond markets. Bond markets have a very very useful role to play when you've got inflation, which is they're an early warning indicator," King told CNBC's Steve Sedgwick. Central banks around the world have hiked interest rates aggressively over the past year in a bid to rein in soaring inflation, after a decade of loose financial conditions. The swift rise in interest rates has intensified concerns about a potential recession and exposed flaws in the banking system that have led to the collapse of several regional U.S. banks . The prolonged period of loose monetary policy after the global financial crisis equated to central banks "nationalizing bond markets," and meant policymakers were slow off the mark in containing inflation over the past two years, according to HSBC Senior Economic Adviser Stephen King.

☆ Bank rescue real estate turns from dowry to downer
▼ + stars: | 2023-03-30 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

Unlike many banks which got into trouble back in 2008, the Swiss lender has flogged much of its prime real estate. In the last financial crisis prime real estate played a big part of bank rescues. When Barclays (BARC.L) bought Lehman Brothers’ U.S. capital markets business in September 2008 the deal included the bankrupt investment bank’s headquarters. Today there is less real estate underpinning bank values. For buyers preparing to rescue embattled banks, real estate has turned from a dowry to a downer.

☆ Wildfires ravage Spain's Asturias as temperatures hit record highs
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

MADRID, March 30 (Reuters) - More than 100 wildfires broke out in Spain's northern Asturias region on Thursday, most of them started on purpose by arsonists and others, authorities said, as temperatures soared to record highs. Flames raged near a road as cars drove by in Asturias, a lush region with rainy oceanic climate, local TV footage showed. Spain registered its hottest March 29 on record on Wednesday, with temperatures exceeding normal levels by seven to 14 Celsius (44.6-57.2 Fahrenheit), the meteorological agency AEMET said. The Canary Islands registered temperatures more common for the summer, with 37.8C in Tasarte, Gran Canaria. Other regions in the Basque Country and some parts of central Spain also recorded record temperatures for the time of year.

Credit Suisse staff had already been seeking to jump ship in recent weeks, sources told Reuters. "Many Credit Suisse bankers had already been talking to a lot of people for a while [about leaving the Swiss bank]. An executive at a rival London-based wealth manager said they had seen a steady flow of CVs coming in from Credit Suisse bankers. UBS told Credit Suisse wealth bankers on Monday that it was weighing financial sweeteners for them to stay, as it seeks to reassure key staff. Some experts have said Britain's financial services industry could ultimately benefit from recent bouts of turmoil in the United States and Switzerland.

There is so much money out there," he said, from pandemic spending programs as well as recent federal government initiatives like the Inflation Reduction Act. Is the economy really standing firm against the Fed's aggressive rate moves? Rate increases have averaged more than half a percentage point at each of the eight Fed meetings since March of 2022, and pushed the benchmark overnight interest rate from the near-zero level to the current 4.50%-4.75% range. Reuters Graphics Reuters GraphicsDOGS THAT DIDN'T BARK (YET)Construction: The status of the construction industry shows the Fed's pandemic-era dilemma. The Fed's rate increases have had an impact.

☆ Everything you need to know to catch up on Silicon Valley Bank, Credit Suisse, and the trouble rattling the financial world
▼ + stars: | 2023-03-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Silicon Valley Bank and Credit Suisse have stolen most of the headlines, but between others like First Republic Bank, Signature Bank, and Silvergate Bank, there's plenty to digest. People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City. The scandal-hit lender has been feeling the pain since Silicon Valley Bank sparked the bank crisis. Venture capitalists have never been more divided, with accusations flying over who killed their beloved Silicon Valley Bank. Bank of America strategists laid out 23 names that still offer upside despite the drag of SVB and Credit Suisse.

Virgin Money (VMUK.L), Britain's sixth largest bank, said in a statement it had also seen "net business deposit inflows in recent days". That means SVB UK's customer deposits are safe and their loans supported, HSBC's top bosses have said. Franklin told Reuters a number of CEOs and startup execs had started researching other banks with which to park cash in addition to SVB UK this week, citing Barclays as a favourite among some. But the collapse of SVB has intensified scrutiny of the business models of all lenders, including specialists with smaller balance sheets to fall back on. "The UK banking system remains safe and continues to operate as normal."

☆ Fitch says banks in Asia are resilient to risks seen in U.S. bank failures
▼ + stars: | 2023-03-17 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

A sign for the financial agency Fitch Ratings on a building at the Canary Wharf business and shopping district in London, U.K., on Thursday, March 1, 2012. Asia-Pacific banks are "resilient to risks" highlighted by failures seen in U.S. banking sector, Fitch Ratings said Thursday, adding the exposure to Silicon Valley Bank and Signature Bank is insignificant for regional banks the agency covers. "The direct exposures among Fitch-rated banks in APAC to SVB and Signature that we are aware of are not material to credit profiles," Fitch said in a note. "Weaknesses that contributed to the failure of the two banks are among the factors already considered in our rating assessments for APAC banks, but these are often offset by structural factors," Fitch said, adding that exposures tend to be the largest in India and Japan. Fitch's assessment on banks in Asia-Pacific comes as U.S. Treasury Secretary Yellen overnight said not all uninsured deposits will be protected in future bank failures.

☆ Elon Musk frequently told Twitter staff 'let them sue' in response to vendors and landlords complaining about unpaid bills, report says
▼ + stars: | 2023-03-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk told staff "let them sue" in response to complaints from Twitter vendors over unpaid bills, the FT reports. Musk has sought to aggressively cut costs since taking over Twitter in October 2022. Various lawsuits have been filed against Twitter claiming more than $14 million over unpaid bills. The team frequently refused to compensate Twitter's vendors, landlords, and partners in an effort to keep costs low, the report added. At least nine lawsuits have been filed against Twitter claiming more than $14 million plus interest, over unpaid bills, the Wall Street Journal reported in February.

☆ A Spanish firm wants to kill one million octopuses a year using 'ice slurry' baths at first-ever factory farm
▼ + stars: | 2023-03-16 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

A proposed commercial octopus farm is sparking outrage among experts and animal rights campaigners. The farm would slaughter roughly one million octopuses each year by submerging them in icy water. In a report released Thursday, the activist group said that Nueva Pescanova intends to slaughter around one million octopuses each year by submerging them in a freezing "ice slurry." In particular, it said, the slaughter of the octopuses "involves proper handling that avoids any pain or suffering to the animal." "To kill them with ice would be a slow death," Dr. Peter Tse, who studies octopus cognition at Dartmouth, told the BBC.

☆ What we lend in the shadows
▼ + stars: | 2023-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

"What We Do in the Shadows." New companies, especially ones that don't make any money are "pre-revenue," as VCs like to say, aren't easy to lend to. — there are also risks to letting investment firms lend billions of dollars without much oversight. Private-credit firms are looking to fill the lending gap left by Silicon Valley Bank's downfall. Inside Silicon Valley Bank's $70 billion loan portfolio that's now up for grabs.

☆ New analysis reveals dynamic volcanism on Venus
▼ + stars: | 2023-03-15 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

A February 1991 image showed the vent as a circular formation covering about one square mile (2.6 square km). A October 1991 image showed the vent with an irregular shape covering about 1.5 square miles (3.9 square km). Another study published in 2020 identified 37 volcanic structures apparently active in the past 2 million to 3 million years. Venus, with a diameter of about 7,500 miles (12,000 km), is slightly smaller than Earth. Its thick atmosphere - mainly carbon dioxide - traps in heat in a runaway greenhouse effect, rendering Venus the solar system's hottest planet.

☆ Billionaire investor Ray Dalio says the Silicon Valley Bank failure marks a 'canary in the coal mine' that will have repercussions beyond the VC world
▼ + stars: | 2023-03-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Ray Dalio said the Silicon Valley Bank failure is a "canary in the coal mine" for what's to come. Dalio wrote Tuesday that this is part of the classic "bubble-bursting part" of the short-term debt cycle. Regulators shut down Silicon Valley Bank on Friday, with Signature Bank closed down two days later. Given that the Fed has hiked interest rates more than 1,700% over the last year—and could continue to do s0—more dominoes are poised to fall, in Dalio's view. "Pandemic-related fiscal stimulus along with more than a decade of ultralow interest rates and quantitative easing resulted in significant excess deposit creation in the US banking sector," Moody's strategists said.

Available for the iPhone 14 and iPhone 14 Plus, the new color is available for preorder today and goes on sale on March 14. Apple iPhone 14 (Yellow) Yellow is a new color option for the standard iPhone 14. Apple iPhone 14 Plus (Yellow) The iPhone 14 Plus now comes in yellow. Along with the yellow iPhone 14, Apple also added a new canary yellow silicone case for the iPhone 14 and iPhone 14 Pro. The safety features are included in the iPhone 14 and iPhone 14 Plus for two years.

☆ Silicon Valley Bank's implosion isn't a canary in the coal mine and won't result in contagion, RBC analyst says
▼ + stars: | 2023-03-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Silicon Valley Bank's implosion isn't a canary in the coal mine, said RBC analyst Gerard Cassidy. SVB also held a low ratio of small customer deposits, meaning its funding is more sensitive to rates. "This bank is different because they don't have low-cost consumer funding like other banks do," Cassidy said. Unlike other banks, just a small portion SVB's funding consisted of small consumer deposits, which put the bank at more risk. "The banks with the good deposit mix – and Silicon Valley didn't have that – those banks are okay, and this sell-off was unfortunate.

☆ Why SVB isn't a canary in the coal mine for regional banks, according to top analyst Gerard Cassidy
▼ + stars: | 2023-03-09 | by ( Melissa Lee | ) 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 EmailWhy SVB isn't a canary in the coal mine for regional banks, according to top analyst Gerard CassidyRBC's Gerard Cassidy on the weakness in regional banks. With CNBC's Tyler Mathisen and the Fast Money traders, Tim Seymour, Jeff Mills, Julie Biel and Guy Adami.

☆ Recession worries used to be bad for bank stocks. Not anymore
▼ + stars: | 2023-03-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —Investors are bucking tradition this year by piling into big bank stocks just as major economies are expected to either slow down or fall into recession. Fed Chair Jerome Powell said Tuesday that interest rates would rise more than people anticipated. European bank stocks have risen particularly sharply in the past six months. “As those worries have unwound, European banks have done particularly well.”No ‘hidden skeletons’But European economies are still fragile. When economic activity slows down, bank stocks are typically among those hit hardest.

☆ Mast Reforestation is using drones, nurseries and carbon offsets to revitalize land after wildfires
▼ + stars: | 2023-03-07 | by ( Lora Kolodny | ) www.cnbc.com time to read: +1 min

All that burnt land means the country is in need of a dramatic increase in reforestation. But there's not a big enough supply of native seeds and seedlings to meet the regrowth demands. That's where a Seattle startup called Mast Reforestation sees an opportunity. Mast still provides aerial seeding, but drones are just one piece of its growing "reforestation as a service" business, said founder and CEO Grant Canary. Mast now has 130 full-time employees, including 45 from Cal Forest.

Search resuls for: "Canary"

25 mentions found