DIRS.INFO The most relevant business & tech news

☆ Japan's factory activity shrinks at fastest pace in 2-1/2 years-PMI
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) fell to a seasonally adjusted 47.4 in February, from a final 48.9 in the previous month. Factory output and new orders decreased for an eighth straight month and at faster rates than January, the sub-index data showed. By contrast, service-sector activity grew for a six month with further relaxation of domestic COVID-19 countermeasures. The au Jibun Bank flash services PMI rose to an eight-month-high of 53.6 seasonally adjusted in February from the previous month's 52.3 final. Overall, the au Jibun Bank Flash Japan composite PMI was at 50.7 in February, in line with last month's final figure, as the gloomy manufacturing index was offset by a rosy service PMI.

☆ U.S. business activity rebounds to eight-month high in February- S&P Global survey
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 21 (Reuters) - U.S. business activity unexpectedly rebounded in February, reaching its highest level in eight months, according to a survey on Tuesday, which also showed inflation subsiding. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 50.2 this month from a final reading of 46.8 in January. The services sector accounted for the rise in business activity, while manufacturing remained weak. The survey's flash manufacturing PMI rose to 47.8 from 46.9 in January. The survey's flash services sector PMI increased to 50.5 from 46.8 in January.

☆ Credit Suisse investor loses faith in management over cash outflows
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

Thomae said investors were particularly disappointed that withdrawals had continued after Credit Suisse CEO Ulrich Koerner and Chairman Axel Lehmann had said the situation had stabilised. Deka, which is owned by Germany's unlisted savings banks, holds a stake of 0.02% in Credit Suisse, according to Refinitiv data. Credit Suisse shares rebounded on Friday, gaining nearly 4% after losing nearly 15% on Thursday when shareholders took fright at results described by one shareholder as "catastrophic." The market is still wondering what the risk/return profile of “New Credit Suisse” will look like," Venditti said. Ratings agencies said Credit Suisse had 'some momentum' in its restructuring, including disposing of non core assets and slashing costs, but faced significant risks ahead.

☆ Credit Suisse five-year credit default swaps up sharply
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 10 (Reuters) - The cost of insuring exposure to Credit Suisse (CSGN.S) debt rose on Friday by 24 basis points (bps) from Thursday's close to 320 bps, data from S&P Global Market Intelligence showed. The five-year credit default swaps (CDS) had risen early on Thursday after the Swiss lender reported its worst annual loss since the 2008 global financial crisis, before falling back later that day. Reporting by Chiara Elisei; editing by Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.

☆ ChatGPT has investors scrambling to get on the AI bandwagon so much that obscure stocks are soaring just like big-name chip companies
▼ + stars: | 2023-02-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That's that for the latest Fed talk — but today, we're taking a closer look at the AI hype train passing through the stock market. And small-cap tech stocks with names that nod to bots like BigBear.ai and SoundHound AI have similarly notched gains so far this year. Tech stocks have come back with a "vengeance," Fundstrat's Mark Newton said. It's a necessary step for policymakers to take, the group said, even if it means declines in stock market returns. Wall Street's biggest firms are warning their clients not to trust the stock market rally.

☆ Goldman Sachs Asset Management closes $5.2 billion growth equity fund
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, Feb 7 (Reuters) - Goldman Sachs Asset Management said Tuesday it had closed a $5.2 billion direct private markets fund that invests in high-growth businesses. The West Street Global Growth Partners fund attracted $3.7 billion from institutional and high net worth investors, as well as commitments from Goldman Sachs Group Inc (GS.N) and its employees. Goldman Sachs Asset Management oversees more than $2 trillion in assets. Last year it closed a $9.7 billion private-equity fund, its largest since 2007, that seeks to invest in companies with an enterprise value of about $750 million to $2 billion. The latest fund is managed by its growth equity business division led by Darren Cohen in New York, Nishi Somaiya in London and Stephanie Hui in Hong Kong.

☆ Corporate financial health to worsen, says Janus Henderson
▼ + stars: | 2023-02-06 | by ( Chiara Elisei | ) www.reuters.com time to read: +2 min

LONDON, Feb 6 (Reuters) - Corporate financial health will worsen across the globe this year, failing to gain respite from signs that inflation has peaked and hopes for an economic soft landing, asset manager Janus Henderson said in a report released on Monday. Its global credit risk monitor's indicators - debt loads, access to capital markets, cash flow and earnings - all flashed red in the fourth quarter of 2022, signalling caution to investors. All companies it tracks across global regions had flat or negative earnings forecast revisions for this year. Although an economic soft landing looks more likely, the asset manager remains cautious given the retreat in inflation is too late to prevent further deterioration in the credit cycle. "We are not out of the woods yet, although the decline in inflation seen in the last three months is a critical prerequisite to the elusive soft landing that investors cherish."

☆ The Phoenix housing bubble spectacularly popped in 2008. Countless signs point towards a similar struggle now. Here's how bad it really is.
▼ + stars: | 2023-02-05 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +9 min

Phoenix's housing market is quickly deteriorating as a pullback in demand triggers home price declines. And as Phoenix's housing market performs an about-face from the dramatic rise it had witnessed from spring 2020 through summer 2022, experts across the country are debating the possibility of the whole market imploding. And as of January 2023, area home sales are down 74% year-over-year, according to John Burns Real Estate Consulting. The Phoenix Valley — a sprawling desert metropolis that's home to nearly 5 million people — is no stranger to speculative real estate bubbles. Phoenix's housing market could be on track to normalizingDespite the numerous indicators of a weakening housing market, Phoenix may simply be facing a correction versus a crash, several experts told Insider.

☆ Asia's factory activity contracts despite China's COVID reopening
▼ + stars: | 2023-02-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

China's factory activity shrank more slowly in January after Beijing lifted tough COVID curbs late last year, a private sector survey showed. The data was contrasted with a better-than-expected official PMI survey issued on Tuesday. South Korea's factory activity contracted for a seventh straight month in January. Factory activity expanded in January in Indonesia and the Philippines but shrank in Malaysia and Taiwan, PMI surveys showed. The International Monetary Fund on Tuesday slightly raised its 2023 global growth outlook on "surprisingly resilient" demand in the United States and Europe and the reopening of China's economy after Beijing abandoned its strict pandemic controls.

☆ Premarket stocks: Is this the beginning of the end for Big Oil's windfall?
▼ + stars: | 2023-01-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Brutally high oil and gas prices were the talk of the town and one of the largest contributing factors to sky-high inflation. That was bad news for drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. As markets fell under the pressures of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed, the energy sector thrived. The S&P ended 2022 down nearly 20%, while the energy sector grew by about 60%. But analysts say US oil companies can’t keep winning for much longer.

☆ Euro zone economy unexpectedly grows in Q4 but weak 2023 looms
▼ + stars: | 2023-01-31 | by ( Balazs Koranyi | ) www.reuters.com time to read: +3 min

Among the biggest euro zone countries, Germany and Italy recorded negative growth rates for the quarter but France and Spain expanded, Eurostat added, based on a flash estimate that is subject to revisions. Russia's nearly year-old war in Ukraine has proved costly for the euro zone, which now spans 350 million people in 20 countries, given some members' heavy reliance on cheap energy. The overall picture nevertheless remains weak, with meagre growth forecast for 2023 due to a large drop in real incomes and surging interest rates. Ireland's 3.5% Q4 growth figure distorted the overall picture as it was driven largely by activity among big foreign companies based there for tax reasons, economists said, adding that without Ireland, euro zone growth would have been zero. "We continue to expect the euro area economy to contract slightly in the first half of the year, and the recovery expected in the second half is likely to be weak."

☆ The 'land grab' for lithium is just getting started with GM deal, says EV materials expert
▼ + stars: | 2023-01-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Automakers are starting to realize that the only way to guarantee lithium supplies is to own or have a controlling stake in the source. "It's the only way you're going to have the edge and guarantee you can make EVs over the next 20 years," Moores told CNBC. Nickel will also be important for automakers, in addition to lithium, Moores told CNBC. "Lithium and nickel are really what terrifies EV makers," Moores told CNBC. It is a land grab," Moores told CNBC.

☆ 2022's stock losers are this year's winners so far
▼ + stars: | 2023-01-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But it’s still been a solid start to the year for the market — and many of last year’s losers have led the way on Wall Street so far in January. Discovery, which plunged nearly 60% last year, has surged 55% so far in 2023 and is the best performer in the S&P 500. Rising market tide lifting questionable boatsStill, some investors are worried this year’s market rally is eerily reminiscent of prior market bubbles. GameStop (GME) is up nearly 25%. “Most investors don’t realize the Fed has to fight the inflation in the stock market, too,” Trainer added.

☆ Rent prices have dropped the most in these 5 U.S. metros. Why it's cheaper to rent than buy in many markets
▼ + stars: | 2023-01-27 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

Indianapolis; Carmel, Indiana; Anderson, IndianaMedian rent at the end of 2021: $1,300Median rent at the end of 2022: $1,700Rent increase: 30.8% 2. New Haven, Connecticut; Milford, ConnecticutMedian rent at the end of 2021: $2,250Median rent at the end of 2022: $2,800Rent increase: 24.4% 4. Naples, Florida; Marco Island, FloridaMedian rent at the end of 2021: $5,200Median rent at the end of 2022: $6,448Rent increase: 24.0% 5. Memphis, TennesseeMedian rent at the end of 2021: $1,800Median rent at the end of 2022: $1,695Rent decrease: -5.8% 2. Palm Bay, Florida; Melbourne, Florida; Titusville, FloridaMedian rent at the end of 2021: $2,300Median rent at the end of 2022: $2,200Rent decrease: -4.3% 5.

☆ The Stanley tumbler is the latest trendy water bottle taking over TikTok — here are the 6 brands it's beating out, from Hydro Flask to Camelbak
▼ + stars: | 2023-01-25 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Stanley tumblers had a surge of popularity in 2022 with many calling it the new "it" portable drinkware. Stanley is beating out drinkware from other brands that previously dominated the market. Here are the beloved water bottle brands that are now falling by the wayside. Stanley is cashing in on that growth: In February 2022, Stanley was named the fastest-growing equipment accessories brand, with sales growing by 275% in 2021, the company told the New York Times earlier this year. Before these colorful tumblers took over your TikTok, these are the six brands that dominated the reusable water bottle market.

☆ The stock market will soon reach a tipping point in active versus passive investing, ISS says
▼ + stars: | 2023-01-25 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

The stock market is on the cusp of reaching a key tipping point soon in the balance between active and passive investing. According to a report from ISS Market Intelligence, the share of long-term invested US assets held by active funds was 53% in 2022. Investors have withdrawn roughly $258 billion from active mutual funds per year since 2015, according to Morningstar Direct data cited by the Financial Times. By contrast, passive mutual funds added $138 billion on average over the same time period. "ISS and Glass Lewis effectively control the stock market," Musk tweeted late Monday.

☆ The stock sector that was 2022's biggest loser is the top gainer in 2023 as market leadership gets shaken up
▼ + stars: | 2023-01-25 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The S&P 500 communications services sector has started 2023 as the top-performing group on the broad index. The sector that's home to Meta, Netflix and Match has picked up 12% after sliding 40% last year. The S&P 500 communications services sector has gained more than 12% since trading in the new year began. Meta and Match were among the top 10 biggest losers on the S&P 500 in 2022. By contrast, the S&P 500 consumer dictionary sector fell 37.6% last year, the second-worst performance on the broad index.

☆ Euro zone January business activity returns to growth - PMI
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, climbed to 50.2 this month from 49.3 in December. The PMI covering the bloc's dominant services index also surprised to the upside, coming in at a six-month high of 50.7. The manufacturing PMI rose to 48.8 this month from 47.8, ahead of the 48.5 Reuters poll forecast. An index measuring output which feeds into the composite PMI bounced to a seven-month high of 49.0 from 47.8. Like in the services PMI, the input prices index fell but firms raised their charges at a faster rate.

☆ Japan's factory activity extends declines for third straight month - PMI
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Jan 24 (Reuters) - Japan's manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. Factory output and new orders decreased for a seventh consecutive month, although at slower paces than last month, the sub-index data showed. The au Jibun Bank flash services PMI rose to a seasonally adjusted 52.4 in January from the previous month's 51.1 final, hitting a three-month high. Overall, the au Jibun Bank Flash Japan composite PMI rose to 50.8 in January, up from last month's final 49.7 and emerging above the break-even 50 line for the first time in three months.

☆ Pressures ease though German economy still shy of growth -flash PMI
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

S&P Global's flash composite Purchasing Managers' Index (PMI), which tracks both the manufacturing and services sectors that together account for more than two-thirds of Germany's economy, rose to 49.7 in January from 49.0 in December. January marked the seventh consecutive month in which the indicator lagged below the 50 level, which separates growth from contraction. However, the services component marked slight growth for the first time since June. "Alongside easing supply-chain strains, January's preliminary survey also pointed to a continued slowdown in rates of inflation," he added. The services index however improved to 50.4, indicating slight growth in activity, and up from a final reading of 49.2 in December, beating the consensus forecast for 49.6.

☆ Europe could dodge a recession. But the UK economy is in a mess
▼ + stars: | 2023-01-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Business activity across the 20 countries that use the euro expanded in January for the first time in six months, according to data published Tuesday, providing fresh evidence that Europe’s economy could confound expectations and dodge a recession this year. The UK survey is conducted in conjunction with the Chartered Institute of Procurement & Supply. “Weaker-than-expected PMI numbers in January underscore the risk of the UK slipping into recession,” Williamson said. The UK economy lost more working days to strikes between June and November 2022 than in any six-month period over the previous 30 years, according to data published last week by Britain’s Office for National Statistics. Separate data published by the ONS on Tuesday showed that UK government borrowing hit £27.4 billion ($33.7 billion) in December, the highest figure for that month since records began in 1993.

REUTERS/Kamil KrzaczynskiSummary U.S. business activity better than expected, but remains softEuro zone posts surprise return to modest growthBritain PMI falls at fastest rate in two years, surveys showNEW YORK/LONDON Jan 24 (Reuters) - The downturn in U.S. business activity eased slightly in January even as it contracted for the seventh straight month while euro zone business activity made a surprise return to modest growth, as two of the world's major economies hope to avert recession this year, surveys showed on Wednesday. Reuters Graphics Reuters GraphicsEURO ZONE BOUNCES BACKThe Euro zone is showing more resilience. Business activity there made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession. In France, the bloc's second-biggest economy, output fell slightly overall again in January, its PMI showed, but manufacturing activity improved for the first time since August. In the Euro zone, there was mixed news on inflation pressures, according to the PMI survey.

☆ U.S. business activity still soft in early 2023, but outlook perks up
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +4 min

S&P Global's Flash U.S. Composite Output Index rose to 46.6 in January - with readings below 50 indicating contraction in activity - from a final reading of 45.0 in December. While that was the highest in three months, companies still reported demand was soft and high inflation was a headwind to customer spending. Another quarter-percentage point increase is expected enroute to a policy rate officials see rising above 5% this year. The S&P Global survey's forward-looking indexes did show improved confidence in the outlook, indicating businesses expect the situation to improve later in the year. "The pick-up in positive sentiment was broad-based, with companies hopeful of a resurgence in customer demand as 2023 progresses," it said.

☆ Ticketmaster under fire: 6 takeaways from hearing over Taylor Swift concert fiasco
▼ + stars: | 2023-01-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said. Entertainment industry pushes back at Ticketmaster’s dominanceMembers of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. Andrew Harnik/APClyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. Artists, he said, have no leverage over Live Nation. Lawmaker says Ticketmaster merger should ‘be on the table’Lawmakers repeatedly questioned the US government’s past handling of the Live Nation merger with Ticketmaster.

☆ China's economy could recover faster and earlier than expected, analysts say
▼ + stars: | 2023-01-17 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

The nation's economy grew 3% for the full year of 2022 — the second-slowest growth rate it has seen since 1976. The nation's economy grew 3% for the full year of 2022 — the second-slowest growth rate it has seen since 1976. Xu expects to see a sharp rebound in the second quarter of 2023 as China continues to prioritize the economy over its zero-Covid policy. China's economy may have already seen the worst of pressures in the final month of 2022, JPMorgan's Zhu said. He added the weakness was the result of uncertainty surrounding the nation's zero-Covid policy and a mass infection that followed its steps of reopening.

Search resuls for: "Market Intelligence"

25 mentions found