DIRS.INFO The most relevant business & tech news

Investors are awaiting more tangible outcomes of Sunday's general election, after preliminary results showed the country's pro-democracy parties secured a strong majority. A calculation by Reuters based on data from the country' Election Commission suggests the anti-military Move Forward party, led by Thai businessman Pita Limjaroenrat, would win the most seats, followed by the Pheu Thai party. If confirmed, this would represent a resounding rejection of pro-military parties led by former prime minister Prayut Chan-o-cha, ending nine years of pro-military rule. The Pheu Thai party has put forward Paetongtarn Shinawatra — the daughter of former Thai prime minister Thaksin Shinawatra — as its candidate for prime minister, while Reuters reported that Limjaroenrat also has "set his sights set on being prime minister." First quarter GDPSeparately, Thailand's gross domestic product for the first quarter grew 2.7%% year-on-year, beating expectations of a 2.3% rise.

☆ Russia denounces Macron over China comments
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, May 15 (Russia) - Russian officials on Monday denounced comments by French President Emmanuel Macron that Moscow was becoming subservient to China, saying Western countries must get used to a world underpinned by the Kremlin's close ties with Beijing. The Russian criticism focused on an interview Macron gave to the Paris daily l'Opinion in which he decried the Kremlin's isolation brought on by its invasion of Ukraine more than 14 months ago. "(Russia) has de facto started a form of vasallisation with China and has lost access to the Baltic that was critical to it as it has precipitated the decision by Sweden and Finland to join Nato," Macron was quoted as saying in the daily. Kremlin spokesperson Dmitry Peskov said Russia's relations with China were those of a strategic partner and had nothing to do with dependence. Russian Deputy Foreign Minister Alexander Grushko said Paris had become preoccupied with Moscow's strengthened relations with China and changes that implied for the world order.

☆ Even if Erdogan Loses the Election, Turkey Is in Trouble - The New York Times
▼ + stars: | 2023-05-11 | by ( Cihan Tugal | ) www.nytimes.com time to read: +3 min

Two of the opposition parties are headed by high-profile former members of the A.K.P. The other, Ahmet Davutoglu, is widely credited with its approach to foreign policy. The shift away from Mr. Babacan’s market-friendly policies was effectively enforced by a contraction in world markets a decade ago. In power, the shaky but real benefits of the A.K.P.’s ever-shifting mix and match of market-oriented and statist policies cemented these ties with the people. Without a clear alternative to the status quo, many people will stick with the political leadership they know.

☆ Friends Once ‘Escaped’ Her Cooking. Now, She’s One of the World’s Best Chefs.
▼ + stars: | 2023-05-11 | by ( Valeriya Safronova | ) www.nytimes.com time to read: +2 min

In her first days on the job, Ms. Ros dreamed of transforming Hisa Franko into a travel destination. The prime minister of Slovenia, Robert Golob, who has known Ms. Ros since 2012, considers himself a fan. “Hisa Franko is an ambassador of our country as a culinary destination,” he wrote in an email. But in her career, Ms. Ros described facing added scrutiny because of her gender. Growing up in the 1980s in Tolmin, a short drive from Hisa Franko, she was a competitive skier on the Yugoslavian national youth team from about age 10 to 17.

Capvision said in a statement soon after the broadcast that it would resolutely abide by national security rules. The CCTV report was the first clear indication of the national security scope of recent police action against several consulting firms. "The state security organ and other authorities will intensify law enforcement against activities that endanger national security, such as illegal consulting," the state-owned Global Times said. The revisions will see all documents, data, materials and items "related to national security and interests" given the same protection as state secrets. The law does not define China's national security or interests.

Reuters interviews with Kar and a dozen other voters in Antakya reflected anger over what some viewed as a slow initial government response to the disaster. The voices are a small snapshot of Antakya and the wider area of southern Turkey hit by the earthquake, a region home to nine million voters and traditionally an Erdogan stronghold. Only 4.3% of voters viewed the quake as Turkey's biggest problem last month, with most more concerned by an economy racked by rampant inflation. Nearby, excavators resound as they demolish some of the 80-90% of buildings estimated to have suffered quake damage. The opposing sides present very different narratives about Erdogan and his government's response to the disaster.

☆ FBI disrupts hacking tool that Russian spies used to steal information from foreign governments
▼ + stars: | 2023-05-09 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +3 min

CNN —The FBI announced Tuesday that it has disrupted a network of hacked computers that Russian spies have used for years to steal sensitive information from at least 50 countries, including NATO governments. It’s the latest move by the Justice Department to more aggressively target foreign spying and criminal rings using custom-built FBI tools. The Russian hacking group that the FBI targeted, known as Turla, is widely believed by experts to be one of the most elite cyber-espionage units in the Russian intelligence services. In 2018, Turla hijacked an Iranian hacking tool to gain access to the network of an unnamed Middle Eastern government, according to researchers. The US and allies’ advisory confirmed that daily Turla hacking operations occur at an FSB facility in Ryazan.

☆ Russian security agents have been using a secret network of corrupted computers to spy on NATO for decades, but the US just busted it open, feds say
▼ + stars: | 2023-05-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

US authorities have busted open a secret computer network run by Russian security agents. FBI agents have neutralized what the Justice Department called "sophisticated malware." "Globally, the FSB has used Snake to collect sensitive intelligence from high-priority targets, such as government networks, research facilities, and journalists." Director of Russian Federal Security Service (FSB) Alexander Bortnikov attends a meeting of the service's collegium in Moscow, Russia, February 28, 2023. Top Justice Department officials praised the FBI's ability to neutralize the FSB's network.

May 8 (Reuters) - Tyson Foods Inc (TSN.N) shares plunged 16% to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast following a decline in prices for its beef and pork. CEO Donnie King, who is seeking to cut costs, said Tyson remains in an unusual position of facing challenges in its beef, pork and chicken businesses at the same time. The company cut its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Reuters GraphicsSales volumes in Tyson's beef segment also fell 3% in the quarter, putting overall sales down 8.3% at $4.62 billion. The company pegged full-year beef margins at negative 1% to positive 1%, compared with its previous forecast of 2% to 4%.

May 8 (Reuters) - Tyson Foods Inc (TSN.N) posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins. The company lowered its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Average sales prices of beef and pork fell 5.4% and 10.3%, respectively, in the quarter ending April 1. Sales volumes in Tyson's beef segment also fell 3%, leaving the unit's overall sales down 8.3% at $4.62 billion.

☆ Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy
▼ + stars: | 2023-05-08 | by ( Jonathan Spicer | ) www.reuters.com time to read: +8 min

The May 14 vote, which lands during the Turkish Republic's centenary year, is Erdogan's biggest test yet. At the same time, a global reversal in market liquidity left Turkey and other emerging markets starved for funding. But the economic crisis was damaging. This trend accelerated in 2013, wiping out big gains made in 2006-2010 during Erdogan's first decade in charge. "If Erdogan wins the election and continues his economic policy it will come to a complete crash at one point.

☆ A change in Turkish leadership might not spell the end of ties with Russia
▼ + stars: | 2023-05-08 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

The strengthening ties between Erdogan and Putin have caused jitters in the West, with some watching the upcoming elections with anticipation of a possible Erdogan exit. That makes Russia among Turkey’s biggest trade partners. The European Union, as a bloc, however remains Turkey’s largest trade partner, with bilateral trade reaching around $219 billion, according to the European Commission. But while relations with the EU might improve if the opposition wins, the road may be longer and more challenging with the US, experts say. “When we mention Turkey’s relationship with the West… we sometimes take both ends of the Atlantic (as one),” Isci said.

[1/2] Turkish President Tayyip Erdogan addresses his supporters during a rally ahead of the May 14 presidential and parliamentary elections, in Izmir, Turkey April 29, 2023. As he seeks to shore up his appeal among conservative voters, Erdogan has also spoken against homosexuality, describing LGBT rights as a "deviant" concept he would fight. 'BUILDING TURKEY TOGETHER'Polls suggest voting could go to a second round and some show Erdogan trailing. "I swear, Erdogan can solve it with a flick of his wrist," she said at a market in central Istanbul. The interventions won few allies, however, and faced with a struggling economy the countdown to the election, Erdogan sought rapprochement with rivals across the region.

☆ Japan PM Kishida visits Seoul to forge closer ties amid N.Korea threats
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +4 min

South Korean officials are hopeful that Kishida will make some kind of gesture in return and offer some political support, although few observers expect any further formal apology for historical wrongs. But the historical differences between South Korea and Japan also threaten to cast a shadow over the blossoming ties between its two leaders. The majority of South Koreans believe Japan hasn't apologised sufficiently for atrocities during Japan's 1910-1945 occupation of Korea, Lee said. "They think that Prime Minister Kishida should show sincerity during his visit to South Korea, such as mentioning historical issues and expressing apologies," she added. Still, South Korea is an "important neighbour that we must cooperate with on various global issues," Japan's foreign ministry has said.

San Francisco-based DoorDash now projects annual adjusted EBITDA, a measure of profitability, between $600 million and $900 million, compared to previous outlook of $500 million and $800 million. "Consumer demand and engagement are stronger than ever, which has fueled growth across our topline," said Chief Financial Officer Ravi Inukonda. In the first quarter, total orders rose 27% to 512 million, while analysts on average had expected a 20.8% rise to 488.2 million, as per Refinitiv data. On Tuesday, Uber Technologies (UBER.N) also said that it expected "strong growth" in its food delivery unit over the next few quarters, signaling demand resilience. DoorDash's revenue rose 40% to $2.04 billion in the quarter ended March 31, compared to analysts' estimate of about $1.93 billion.

May 3 (Reuters) - Etsy Inc (ETSY.O) on Wednesday beat market expectations for quarterly revenue, benefiting from demand for products such as personalized gifts offered on its e-commerce platform as well as higher transaction fees, sending the company's shares up about 2% in extended trading. Net revenues rose 10.6% to $640.9 million in the quarter ended March 31, compared with analysts estimate of $622.1 million, as per Refinitiv IBES data. The company forecast second-quarter revenue between $590 million and $640 million, while analysts expected $625.4 million. Etsy's first-quarter adjusted EBITDA, a measure of profitability, came in at $170.3 million, while analysts on average were expecting $166.6 million. Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Opinion | Why Trump Won’t Let Go of His Dream of Domination
▼ + stars: | 2023-05-03 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +6 min

Once early humans had developed spears, Haidt continues,anyone could kill a bullying alpha male. Anything that suggests the aggressive, controlling behavior of an alpha male (or female) can trigger this form of righteous anger, which is sometimes called reactance. In democracies, voters, on average, favor the taller candidate and often crave a “strong leader." They might ostracize him (the alpha male) but mostly they assassinate him. As far as “coercive alpha males" go, Trump is a bully, as demonstrated by his treatment both of competitors for the nomination in 2016 and of Gov.

HONG KONG, May 2 (Reuters Breakingviews) - Money flowing into the People's Republic is getting uncomfortably hot. Yet recent reversals in New York, Hong Kong and Shanghai suggest that is driven by fickle short-term funds – exactly what Beijing doesn’t want. Reuters Graphics Reuters GraphicsFollow @mak_robyn on TwitterCONTEXT NEWSChinese spirit maker ZJLD shares closed down 18% lower than their initial public offering price on their trading debut April 27. The KKR-backed company raised $676 million in what was the biggest offering in Hong Kong since October 2022. Separately, the Ontario Teachers' Pension Plan, Canada's third largest pension fund, closed down its China equity investment team based in Hong Kong, Reuters reported on April 25, citing sources.

☆ Italy signed up to China's Belt and Road Initiative. Now it's having second thoughts
▼ + stars: | 2023-05-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

At the time, analysts said that by joining the project, Italy was undermining Europe's ability to stand up to Beijing. Two years down the line and with a new government in place, Rome is now having another think about its ties with China. China sees Taiwan as a breakaway province, while Taiwan sees itself as separate from China, having ruled itself since splitting from the mainland in 1949 following a protracted civil war. If Italy chooses closer ties to Taiwan that will surely jeopardize its relations with China. "I believe they might not decide anything," Menegazzi said, suggesting the Italian government will continue its Belt and Road participation for now.

☆ Oliver Stone and Joshua Goldstein on why governments are hesitant to make the move to nuclear energy
▼ + stars: | 2023-04-28 | by ( Tania Bryer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOliver Stone and Joshua Goldstein on why governments are hesitant to make the move to nuclear energyCNBC's Tania Bryer sits down with world renowned director, producer and screenwriter Oliver Stone, and professor of international relations, Joshua Goldstein, to discuss their new documentary "Nuclear Now."

☆ Looking for a Climate Career? They Might Have the Answer.
▼ + stars: | 2023-04-28 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

She became intrigued by land use changes, and then, gradually, by the links between climate change and sustainable food systems. Kolman, who grew up in Savannah, Ga., majored in physics and political science at the Massachusetts Institute of Technology. “I spent my time in undergrad searching for a career where I could use my analytical skills to improve society,” he told me. A trip to South Africa, which has dealt with successive droughts exacerbated by climate change, brought home “the impacts of water insecurity.”He considered working in public policy but those plans changed after the 2016 election. Kossoff, who calls herself the “most recent climate convert,” grew up mostly in southwest Florida and studied business and chemistry at Emory University.

The revision is likely to heighten concerns of foreign individuals, such as academic researchers or journalists, and businesses about visiting or operating in China. “Something like a local government budget you could broadly define as relating to national security, or even food security,” he said. “Researchers definitely need to be careful.”China says its laws related to national security and espionage are meant to safeguard the country. “Even with this amendment we still don’t understand what kind of document constitutes a national security issue,” he added. Chinese authorities did not offer details about both cases, including the reason for the crackdown, but analysts say the move is likely to further spook foreign businesses operating in China.

☆ As US and Philippine defense ties grow closer, China drives wedge over Taiwan issue
▼ + stars: | 2023-04-27 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

But the election of his successor, Ferdinand Marcos Jr, last year has returned relations to a more even keel, in part because Manila has become wary of a more assertive China. Last year the US granted $100 million to boost the Southeast Asian country’s defense capabilities and military modernization. Heydarian added that China has to rethink its strategy towards the Philippines, as the Marcos Jr administration is openly more aligned with the US. China remains one of the top trade partners of the Philippines, while Marcos Jr also continues to negotiate energy and agriculture investments from Beijing. Some worry Marcos Jr might be giving too much access to the US, especially when it comes to bases and facilities close to Taiwan, Heydarian said.

Volvo Cars, majority-owned by China's Geely Holding, said operating earnings fell to 5.1 billion Swedish crowns ($494.63 million) in the quarter from a year-ago 6 billion crowns, beating a mean forecast of 3.6 billion crowns, according to Refinitiv estimates. The automaker reaffirmed its outlook for "solid double-digit growth" in retail sales this year, provided there were no major supply disruptions. While demand for the company's cars was healthy, macroeconomic conditions were challenging, CEO Jim Rowan said. Lithium prices, a large source of cost for electric cars, had started to decline, expecting the full effect to kick in a few months' time, the CEO said. ($1 = 10.3107 Swedish crowns)Reporting by Marie Mannes, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.

Order intake at the company that makes a range of military and civilian hardware doubled to 17.02 billion crowns ($1.66 billion) from 8.1 billion, while its order backlog increased to 132.66 billion crowns from 128 billion crowns. Chief executive Micael Johansson said countries are increasing stocks to improve their own resilience, as well as to support Ukraine, which had translated into a strong order intake. Demand has been particularly strong in the surveillance and dynamics businesses, which include sensors, deterrents, support weapons and missiles, he said. Analysts at Citi said it was a strong start to the year for Saab, with sales, operating profit and orders beating consensus. Shares in Saab were up around 4.5% as the market opened, but reversed course later and at 0806 GMT were down 1.5%Operating profit for the maker of the Gripen fighter jet was 928 million Swedish crowns ($90.16 million) in the quarter, compared with 654 million crowns a year earlier.

Search resuls for: "National Relations"

25 mentions found