DIRS.INFO The most relevant business & tech news

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

DUBAI, Nov 29 (Reuters) - Sultan Al Jaber, the incoming president of the United Arab Emirates-hosted COP28 climate summit, on Wednesday rejected accusations the host country planned to discuss natural gas and other commercial deals in meetings linked to the U.N. talks. The BBC and the Centre for Climate Reporting (CCR) on Monday said leaked briefing documents prepared for Jaber showed plans to discuss fossil fuel deals with 15 countries. And it's an attempt to undermine the work of the COP28 presidency," Jaber told a news conference, his first public remarks following the BBC report. "I promise you, never ever did I see these talking points that they refer to or that I ever even used such talking points in my discussions." Jaber has presented himself as a mediator between both sides of the fossil fuel divide, with a healthy desire to include the oil and gas industry in the climate debate.

Persons: Sultan Al Jaber, Jaber, Yousef Saba, Barbara Lewis Organizations: United Arab, BBC, Climate Reporting, Abu Dhabi National Oil Company, Organization of, Petroleum, Thomson Locations: DUBAI, United Arab Emirates, Abu Dhabi, UAE

Shein has not determined the size of its offering or the valuation at IPO, the sources said. Shein, Goldman and JPMorgan declined to comment, while Morgan Stanley did not immediately respond to a request for comment. The most valuable China-founded enterprise to go public in the United States so far is ride-hailing giant Didi Global's (92Sy.MU) debut in 2021 at $68 billion valuation. In 2021, the comparable number was $300 billion when the IPO market was close to its peak. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes of Gap (GPS.N) as shoppers look for fresher styles.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Shein, Goldman, Didi Global's, Jason Benowitz, David, Dee, Delgado, CSRC, Simon Property, Sumeet Singh, It's, Pritam Biswas, Ananya Mariam Rajesh, Kane Wu, Anirban Sen, Rishabh, Scott Murdoch, Miyoung Kim, Stephen Coates Organizations: Amazon, JPMorgan, Bloomberg, Arm Holdings, Roosevelt, REUTERS, China Securities Regulatory Commission, U.S, Reuters, Securities and Exchange Commission, SPARC Group, Forever, Brands, Simon, Aequitas Research, China's Shanghai Securities, Street, Thomson Locations: United States, China, U.S, Singapore, New York City, Shein, Bengaluru, Hong Kong, New York, Sydney

☆ Barclays strategic fix will entrench low valuation
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters Breakingviews) - Barclays (BARC.L) is looking for a valuation cure. Cutting into the investment bank and reallocating to the more stable retail operations may look enticing but is hard to do without upending short-term returns. Still, the currently favoured suggestion of cutting less profitable investment bank clients sounds equally tricky, and might only shave at most a tenth off Barclays’ 219 billion pounds of corporate and investment bank risk-weighted assets. At Credit Suisse-inflated UBS (UBSG.S), which trades near book value, investment bank RWAs are 25%. Even getting Barclays’ corporate and investment RWAs back to 50% of the total would involve shrinking them by over a fifth.

Persons: Venkatakrishnan, Aimee Donnellan, Julius Baer’s, Warren Buffett, George Hay, Streisand Neto Organizations: Reuters, Barclays, Barclays ’, Deutsche Bank, Credit Suisse, UBS, X, Thomson Locations: reallocating

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. It is also in advanced negotiations with Kretinsky's EP Equity Investment (EPEI) vehicle to "modify and simplify" some terms of its proposed 2 billion euro ($2.11 billion) sale of Tech Foundations, the group said. AlphaValue analyst Helene Coumes attributed the drop to "the endless uncertainty on the deal on Tech Foundations, the financing issues and how the change of some terms of the agreement will be favorable for the minority shareholders". The Tech Foundations deal would also see Kretinsky take a 7.5% stake in the group's cybersecurity unit Eviden, which is what would be left of Atos. Reporting by Diana Mandiá; Editing by Kirsten Donovan, Robert Birsel and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Daniel Kretinsky, Helene Coumes, Atos, Diana Mandiá, Kirsten Donovan, Robert Birsel, Jan Harvey Organizations: REUTERS, Tech Foundations, Kretinsky's, Equity Investment, Tech, Thomson Locations: Nantes, France, Czech, Atos

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ Charlie Munger, the 'Oracle of Pasadena' who was Buffett's second-in-command
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +8 min

Berkshire Hathaway Vice Chair Charlie Munger arrives to begin the company's annual meeting in Omaha May 4, 2013. EXPANDING BUFFETT'S HORIZONSMunger and Buffett did differ politically, with Munger being a Republican and Buffett a Democrat. Like Buffett, Munger was a fan of the famed economist Benjamin Graham. ORACLE OF PASADENAFans dubbed Buffett the "Oracle of Omaha," but Munger was held in equal esteem by his own followers, who branded him the "Oracle of Pasadena" after his adopted hometown in California. "I was raised by people who thought it was a moral duty to be as rational as you could possibly make yourself," Munger told Daily Journal shareholders in 2020.

Persons: Charlie Munger, Rick Wilking, Charles Munger, Warren Buffett's, Munger's, Buffett, Munger, Berkshire Hathaway, HORIZONS Munger, Santa Barbara, Warren, Benjamin Graham, Charlie, Ben Graham, Charles T, Kathy Kristof, Buffett's, Ernest . Buffett, Olson, Wheeler, Alice Schroeder, Nancy, Graham, Heinz, Todd Combs, Ted Weschler, Nancy Munger, Jonathan Stempel, Diane Craft, Rosalba O'Brien Organizations: Berkshire Hathaway, REUTERS, Berkshire Hathaway Inc, Munger, CNBC, Buffett, HORIZONS, Republican, University of California, Berkshire, ORACLE, PASADENA, Oracle, Wesco Financial Corp, Daily Journal Corp, Daily, Los Angeles Times, University of Michigan, U.S . Army Air Corps, Harvard Law School, Tolles, Munger &, Omaha Club, BNSF, 3G Capital, Kraft Foods, Reuters, Thomson Locations: Omaha, California, Berkshire, Omaha , Nebraska, Vienna, Santa, Pasadena, Munger, TETE, Los Angeles, New York

Now "it's like 'plus-10' and then China," he added, with the latter down to providing half of Industry West's products and being trimmed more. China recorded its first-ever quarterly deficit in foreign direct investment in July-September, suggesting capital outflow pressure. But for the first time in the four decades since China opened up to foreign investments, executives are now also concerned about long-term growth prospects. Primavera Capital founder Fred Hu cites mounting macroeconomic uncertainty, a "murky capital market outlook," and lingering concerns over past regulatory crackdowns on high-growth industries such as technology and education. Despite the challenges, foreign investment flows are not unidirectional.

Persons: Jordan England, Nicholas Lardy, England, I'm, Li Qiang's, Li, Michael Hart, Noah Fraser, Fred Hu, Hu, Joe Cash, Ellen Zhang, Kane Wu, Eduardo Baptista, Don Durfee, Kripa Jayaram, Marius Zaharia, Jamie Freed Organizations: China, Reuters, Peterson Institute for International Economics, LONG, Conference Board, China International, Canada China Business Council, Reuters Graphics, Primavera Capital, Tech, Thomson Locations: China, BEIJING, HONG KONG, Southeast Asia, Eastern Europe, Mexico, England, Florida, Washington, Beijing, consultancies, U.S, Asia, Australia, Europe, Hong Kong

☆ Donating to Doctors Without Borders can offer tax advantages and help provide life-saving medical care. Here's how.
▼ + stars: | 2023-11-27 | by ( Sponsor Post | Created Doctors Without Borders | ) www.businessinsider.com time to read: +5 min

With the end of the year fast approaching, we want to spotlight a few alternative ways to support Doctors Without Borders' work that may align with your financial and philanthropic goals. Many alternative gift types offer tax advantages or other financial benefits, and they can serve as long-term investments in Doctors Without Borders' work. Charitable gift annuities: If you're 65 or older and prepared to give $10,000 or more, a charitable gift annuity can provide income for one or two people via fixed payments for their lifetimes. At the end of the contract, any funds leftover will be used to continue Doctors Without Borders' life-saving work. You can learn more about creating a legacy with Doctors Without Borders and request our legacy giving brochure by completing our form.

Persons: Donor, you've Organizations: Democratic, Fund, DAF, Insider Studios Locations: Central America, Haiti, Yemen, Democratic Republic of Congo, Sudan

These deals help banks meet capital requirements more efficiently, allowing them to keep lucrative businesses that would otherwise become unprofitable. Investors in these deals include lightly-regulated entities like hedge funds, shifting risk to the shadow banking sector. Credit risk transfer is another tool for them to pursue after the Fed’s clarification on what is allowed, said Cory Wishengrad, head of fixed income at Guggenheim Securities. That means Merchants sold the riskiest tranche of the loan portfolio, maximizing the capital relief it could get on it. Whether U.S. regulators will allow such insurance deals to qualify for capital relief is still untested, Staudinger said.

Persons: Morgan Stanley, Blackstone, Jill Cetina, Jon, Claude Zucconi, Zucconi, Michael Barr, Barr, Banks, Missy Dolski, Sam Graziano, Graziano, Cory Wishengrad, Jed Miller, Taft, Morgan Stanley's, Morgan, Deborah Staudinger, Hogan Lovells, Staudinger, Shankar Ramakrishnan, Paritosh Bansal, Nick Zieminski Organizations: Blackstone Group, JPMorgan Chase, Merchants Bank of Indiana, US Bancorp, Investors, JPMorgan, Merchants Bank, Federal Reserve, Varde Partners, Financial, Guggenheim Securities, U.S . Bank, Fed, Reuters, Merchants, Thomson Locations: U.S, Wickersham, Europe, Indiana

☆ Paris mayor quits X platform, calling it a 'gigantic global sewer'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Paris' Mayor Anne Hidalgo attends the 105th session of the Congress of Mayors organised by the "France's Mayors' Association" (AMF), in Paris, France, November 21, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPARIS, Nov 27 (Reuters) - Paris Mayor Anne Hidalgo on Monday announced she was quitting the X platform formerly known as Twitter, calling it a "gigantic global sewer" that was "destroying our democracies" by spreading abuse and misinformation. After buying Twitter in 2022, Elon Musk laid off thousands of employees, including many who moderated content on the platform. "This medium has become a gigantic global sewer, and we should continue to wade into it?" X users and opposition politicians took to the #TahitiGate hashtag to lambast her over the partially taxpayer-funded trip.

Persons: Mayor Anne Hidalgo, Sarah Meyssonnier, Paris Mayor Anne Hidalgo, Elon Musk, Hidalgo, Michel Rose, Bernadette Baum Organizations: Mayor, Mayors, Association, REUTERS, Rights, Paris Mayor, Monday, Twitter, White, Socialist, Thomson Locations: Paris, France, Tahiti

Back in June 2022, big banks approved 15.4% of small business loan applications. All those factors have added up to a grim environment if you’re a small business seeking a loan. Without two years of tax returns, however, she didn’t qualify for many small business loans. Online lenders were quick to offer their services, but the terms were too strict, requiring weekly repayments or interest rates up to 40%. “For a small business that is not only intimidating, it’s almost impossible," she said.

Persons: Banks, Cheyenne Smith, Smith, ”, Shantell Chambliss, Chambliss, “, she’s, Nate Hodge, He’s, Hodge, “ It’s, ” Jen Rose, Rose Organizations: Federal Reserve, National Federation of Independent Business, Bee, Comerica Bank, Comerica Locations: Salt Lake City , Utah, Dakota, Richmond , Va, Capital, Dallas , Texas

A satellite city 22 miles northwest of Seoul, South Korea, Paju is small, with a population of around half a million. The streets are quieter than those of the bustling capital, the air cleaner and the pace of life half a beat slower. While many people know the city for its military base, Paju is also home to the nation’s elaborate book publishing hub — officially known as Paju Publishing Culture, Information and National Industrial Park but commonly referred to as Paju Book City. Around 900 book-related businesses, including printing presses, distribution companies and design studios line the streets, and signs reading “Paju Book City” are everywhere.

Organizations: Paju Publishing Locations: Seoul, South Korea

☆ Rare earth discoveries mean coal mines could have a key role to play in the energy transition
▼ + stars: | 2023-11-24 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

Boy_anupong | Moment | Getty ImagesFrom Pennsylvania to the north of England, coal mines helped to power the Industrial Revolution, turbocharging the economic growth of countries around the world. SubscribeIn May, U.S. firm Ramaco Resources offered some insight into how coal may have a role to play in the years ahead. "It is expected they can be mined using normal surface mining techniques and processed in a more economic and environmental manner than conventional REE mines." Elsewhere, researchers at Penn State have also been focusing on ways to source rare earths and critical minerals via waste from coal mines. Across the Atlantic, efforts to repurpose old coal mines so that they can be used for many more years to come have also been taking shape.

Persons: Ramaco, REEs, CNBC's Kelly Evans, Randall Atkins Organizations: Greenpeace, UN, International Energy Agency, CNBC, Ramaco Resources, Weir International, U.S . Department of Energy's National Energy Technology Laboratory, China, West Virginia University, U.S . Department of Energy, Penn State, Geothermal Engineering Limited Locations: Pennsylvania, England, U.S, REE, Wyoming, United States, China, Scotland

☆ Gaza’s economy is in ruins as Israel-Hamas war sets development back decades
▼ + stars: | 2023-11-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Mahmud Hams | Afp | Getty ImagesWar-battered Gaza's already fragile economy lies in ruins, much like its buildings, following more than a month of bombings by Israel after Hamas militants attacked the country in October. "Gaza's economy is 100% dependent on two sources of revenue: foreign aid and access to Israel's labor market. According to the United Nations, during the 1970s and 1980s, the Palestinian economy saw relatively strong capital inflows, largely due to remittances from Palestinian workers in Israel and the Gulf countries. Things changed after Hamas gained power in Gaza in 2006 when Israel relinquished its control of the enclave. The U.N. classifies Israel as an occupier state over the Palestinian territories of the West Bank and Gaza.

Persons: Khan Younis, Mahmud Hams, Gazans, Marko Papic, Kevin Klowden Milken, Kevin Klowden, Israel, Raja Khalidi, Klowden, Khalidi Organizations: Afp, Getty, United Nations, Food, Clocktower, CNBC, West Bank, Economic Policy Research, International Labor Organization, United Nations Development, Milken Institute, Palestine Economic Policy Research Institute, Hamas, Palestinian Authority Locations: Gaza, Mahmud, Israel, Ramallah, West, Santa Monica , California, Egypt, Palestine, Saudi, Palestinian

☆ How Formula One accidentally helped Las Vegas workers land the 'best contract ever'
▼ + stars: | 2023-11-23 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

Ferrari driver Carlos Sainz of Spain drives past the Sphere during the F1 Las Vegas Grand Prix on Saturday, November 18, 2023 on the Las Vegas Street Circuit in Las Vegas, NV. When Formula One came to Las Vegas, it brought a level of glitz and glamor rivaled only by Monaco. "Las Vegas is now the sporting capital of the world, combined with the entertainment capital of the world. "We think all the largest events in the world belong in Las Vegas. They encouraged Formula One ticket-holders to support workers by avoiding casinos or hotels mired in the labor standoff.

Persons: Carlos Sainz, Ted Pappageorge, weren't Organizations: Vegas, Las Vegas, Circuit, Monaco, Bartenders Union, MGM Resorts, Caesars Entertainment, Wynn Resorts, Culinary Union, Formula, NBC News Locations: Spain, Las Vegas, NV, Sin City, Vegas

☆ Bain Capital raises $7.1 bln in largest pan-Asia PE fund this year
▼ + stars: | 2023-11-21 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. Bain Capital said the firm itself committed $750 million to Bain Capital Asia Fund V, alongside existing and new investors. At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data. Bain Capital, which started fundraising in the second half of 2022, had an initial target of $5 billion. Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets globally.

Persons: Kim Kyung, you've, David Gross, Gross, Toshiba Corp's, Bain, Kane Wu, Jacqueline Wong Organizations: Bain Capital, REUTERS, Bain Capital Asia Fund V, Bain Capital's, Bain, ., Toshiba, Chindata, Estia, Intelligence, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, U.S, Bain Capital's Asia, . Asia, China, India

SYDNEY, Nov 22 (Reuters) - Australasian pharmaceutical distributor EBOS Group (EBO.NZ) has shelved a A$3.75 billion ($2.4 billion) deal to buy Australian vet chain Greencross, sending its shares down 7% during early trade on Wednesday. EBOS was due to pay A$3.75 billion to acquire Greencross, and was set to raise about A$2 billion as early as Wednesday, said one of the sources who could not be named discussing confidential information. The capital raising and associated buyout was put on hold because of weaker than expected demand from EBOS investors, the second source said. TPG and Greencross did not immediately respond to a request for comment. U.S. private equity TPG bought Greencross in 2019 and delisted it from the ASX in a deal worth A$669 million.

Persons: EBOS, Greencross, Scott Murdoch, Marguerita Choy, Stephen Coates Organizations: SYDNEY, EBOS, TPG Capital, TPG, Greencross, City Farmers, Liontown Resources, Thomson Locations: Australia, New Zealand, Albemarle, Sydney, Bengaluru

☆ Australia's AI firm Appen mulls selling part or whole of business
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Australia's AI firm Appen (APX.AX) said Tuesday it is mulling the sale of a part or whole of its business. Appen, which was one of the world's largest AI training providers, has implemented a raft of cost-saving initiatives and has seen its executive team being entirely replaced over the last two years. The company on Tuesday announced an equity raise of A$30-million ($19.52 million), aimed at boosting its working capital. It also announced an additional $14 million of cost reduction, boosting its cost-saving initiatives this year to $60 million. ($1 = 1.5366 Australian dollars)Reporting by Nausheen Thusoo in Bengaluru; Editing by Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.

Persons: Nausheen, Mrigank Organizations: Thomson Locations: Bengaluru

☆ Stocks making the biggest moves before the bell: Lowe's, Dick's, Best Buy, Kohl's and more
▼ + stars: | 2023-11-21 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Lowe's — The home-improvement retailer dropped 3.9% after cutting its sales outlook for the full year. Lowe's also missed analyst expectations for revenue in the third quarter, as sales slid 13% year over year. Best Buy — Shares of the consumer electronics retailer fell 5.9% after the company cut its full year sales outlook in an effort to prepare for price-conscious holiday shoppers. Best Buy beat Wall Street's quarterly earnings expectations, but fell short on revenue. Kohl's lowered the low end of its full year same-store sales outlook.

Persons: Lowe's, Kohl's, Medtronic, LSEG, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Cloudflare, Macheel, Sarah Min, Michelle Fox, Yun Li, Jesse Pound Organizations: Dick's, Goods, American Eagle Outfitters, Burlington Stores, Baidu, Wall, LSEG, Gen, — Locations: Burlington

☆ Small business owners gear up for the biggest shopping weekend of the holiday season
▼ + stars: | 2023-11-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +5 min

According to a new American Express survey of small business owners, “55% anticipate Small Business Saturday will make a significant contribution to their overall holiday sales this year.” In a consumer survey conducted by the company in October, half of respondents said they plan to participate in the upcoming Small Business Saturday, and 85% said they anticipated shopping small this holiday season. Over the past 13 years, the company says consumers have reported spending nearly $184 billion during Small Business Saturday. American Express estimated that Small Business Saturday drove nearly $18 billion in consumer spending last year. Donnell Johns, who runs Veterans Growing America, an organization that supports veteran- and military-spouse-owned small businesses, said that Small Business Saturday is valuable because it creates an awareness for shopping small. For Ken Moorman, founder of Jirani Coffeehouse in Manassas, Virginia, Small Business Saturday means an average 10% uptick in sales than a typical Saturday.

Persons: Donnell Johns, We’ve, ”, Ken Moorman, “, Covid, ” Moorman, it’s, ” Elizabeth Rutledge, Isabel Casillas Guzman, “ The, Harris, Bidenomics, Biden Organizations: New, New York CNN, Amazon, Walmart, American Express, ”, Small, Express, Business Administration, American Express ’, SBA, “ The Biden, Harris Administration, American, Pacific Islanders Locations: New York, Manassas , Virginia, ”

☆ In a Cairo hospital: Guilt, pain and a desperate wait
▼ + stars: | 2023-11-20 | by ( Eleni Giokos | ) edition.cnn.com time to read: +8 min

Today Wadea’s 9-year-old son, Abdelrahman, shares a hospital room at Nasser Medical Institute with his 14-year-old sister. Injured children board an ambulance to be transferred from Al-Aqsa Hospital to Egypt for medical treatment through Rafah on November 17, 2023. On Monday, 28 babies arrived in Egypt from Gaza at the Rafah crossing, according to an Egyptian government official. One baby was discharged in Gaza and went home with his parents to their temporary shelter, while two others stayed in the ICU unit of the Emirati hospital in Rafah, Gaza. Conditions in Gaza have grown desperate as fuel supplies dwindle, forcing the closure of 26 of the enclave’s 35 hospitals.

Persons: Rami Mahmoud, Elham Maged, Mahmoud, Cairo's, Cairo’s, “, ‘, ” Elham, ”, ’, Adel Hana, God, Rami, Elham, Muhammed Wadea, CNN Muhammed Wadea, Khan Younis, Abdelrahman, Wadea, Riham, Dr, Khaled Abdel Ghaffar, Mustafa Hassona, CNN's Eleni Giokos, CNN Ghaffar Organizations: CNN, Cairo's Nasser Medical Institute, Cairo’s Nasser Medical Institute, Nasser Medical Institute, Aqsa, Getty, United Nations Locations: Gaza City, Egypt, Gaza, Salah, Israel, Khan, Rafah, Qatar, United States, Al, Anadolu, Gazan

☆ World Bank and kin head for a $100 bln cash call
▼ + stars: | 2023-11-20 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

World Bank President Ajay Banga arrives for a signing ceremony with Thailand to host the 2026 International Monetary Fund and the World Bank annual meetings on the last day of this year's meeting, following last month's deadly earthquake, in Marrakech, Morocco, October 15, 2023. REUTERS/Susana Vera Acquire Licensing RightsLONDON, Nov 20 (Reuters Breakingviews) - The World Bank and its fellow institutions are heading for a cash call. The World Bank and its regional peers, such as the African Development Bank and the Asian Development Bank, are well placed to help developing countries craft strategies to develop in a green way. Donald Trump may seem an unlikely supporter of the World Bank if he wins. The People’s Republic, for its part, will want to increase its stake in the World Bank as part of any capital increase.

Persons: Ajay Banga, Susana Vera, Fitch don’t, Chris Humphrey, Janet Yellen, Joe Biden, Donald Trump, There’s, David Cameron, Peter Thal Larsen, Thomas Shum Organizations: Monetary Fund, World Bank, REUTERS, Reuters, African Development Bank, Asian Development Bank, Group, FIRST, AAA, Bank, Moody’s, European Bank for Reconstruction, U.S, Thomson Locations: Thailand, Marrakech, Morocco, Washington, United States, China, Britain, Ukraine, U.S, Israel, Republic, United Kingdom, France

Nov 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's latest interest rate decision will be the main focus for Asian markets on Monday, with investors also eyeing third-quarter GDP from Thailand, and trade figures from Malaysia and Taiwan. On Monday, the People's Bank of China is widely expected to leave lending benchmark rates unchanged. All 26 market watchers in a Reuters poll expect the one-year and five-year loan prime rates to be held steady at 3.45% and 4.20%, respectively. It is why Beijing's policy decisions are so important: as long as the interest rate spread remains heavily against the Chinese yuan, these outflows will likely persist.

Persons: Jamie McGeever, Goldman Sachs, Diane Craft Organizations: U.S, Treasury, Japan's Nikkei, Equity, People's Bank of, Reserve Bank of Australia, Bank Indonesia, Bank of, Thomson, Reuters Locations: Thailand, Malaysia, Taiwan, Asia, Japan, People's Bank of China, Bangkok, Bank of Japan, China

☆ Investing veterans break down their outlook for the year ahead as markets return to pre-2008 conditions
▼ + stars: | 2023-11-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Goldman Sachs said the S&P 500 can climb 8% in 2024 as pre-2008 conditions return. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The major indexes are up in 2023, with the S&P 500 notching a healthy gain of more than 17% year-to-date. Gene Goldman, chief investment officer at Cetera Investment Management, said he expects about a 10% gain for the S&P 500 in 2024. Meanwhile, Jeff Buchbinder, chief equity strategist for LPL Financial, expects "high single-digit returns" in 2024.

Persons: Goldman Sachs, —, David Russell, Russell, boomers, Millennials, Steve Wyett, Wyett, Mark Hackett, Hackett, Gene Goldman, Brian Price, Jeff Buchbinder, Goldman Organizations: Service, Federal, Fed, BOK Financial, Nationwide, Business, Cetera Investment Management, LPL Financial

Search resuls for: "G Capital"

25 mentions found