DIRS.INFO The most relevant business & tech news

☆ Why do we work 9 to 5? The history of the eight-hour workday
▼ + stars: | 2023-09-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

Here is a (highly) abbreviated rundown of how US society settled (so far anyway) on an eight-hour workday. The strike failed … but four years later US Steel reduced its workday from twelve to eight hours.”Pioneering employers — and a six-hour workday — make wavesIn 1926, the Ford Motor Company, under the leadership of Henry Ford, famously instituted an eight-hour-a-day, five-day workweek. Kellogg decided in 1930 to institute six-hour shifts in place of eight-hour shifts, with some reduction in workers’ pay. Kellogg’s move attracted national attention, and soon there was a push to federally legislate a six-hour workday. Hunnicutt interviewed several Kellogg workers about why they returned to a longer workday.

Persons: Dolly Parton, ” It’s, wasn’t, Benjamin Hunnicutt, Robert Whaples, Whaples, —, Henry Ford, “, ”, Kellogg, Hunnicutt, Kellogg’s, Franklin Delano Roosevelt, FDR, didn’t, ” Hunnicutt, Gen, It’s Organizations: New, New York CNN, University of Iowa, Wake Forest University, Economic, US Steel, ”, Ford Motor Company, Senate, Industrial, Labor, Fair Labor, Act, Kellogg Locations: New York, United States

☆ VC Ford Smith used psychedelics and biohacking to pull himself out of a deep depression. Here's why he's backing more startups in the space.
▼ + stars: | 2023-09-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

His experience inspired him to focus his investment firm on backing psychedelic startups. But VCs, including Smith, are still betting big on startups in the space that seem especially promising. It wasn't until he tried psychedelics — including Ayahuasca, a plant-derived hallucinogenic drink, and iboga, an African root bark — that his mental health finally improved. Energized by his own experience, Smith reworked his cannabis-focused VC firm Ultranative into a one-stop-shop for psychedelic startups. Smith and Ultranative are far from the only investors pumping money into psychedelic startups.

Persons: Ford Smith, wean, South America —, Ayahuasca, Ultranative, Smith, didn't, Lyme, psychedelics, Rick Doblin, he's Organizations: innovating, Venture, Anonymous, Multidisciplinary Association for Psychedelic Studies, pharma, FDA, PsyMed Ventures, Lionheart Ventures, Iter Investments, Neo Kuma Ventures, Therapeutics Locations: Austin, South America, U.S, Oregon, Colorado, psychedelics, Texas, Los Angeles, Massachusetts

REUTERS/Johnny Carvajal Acquire Licensing RightsCARACAS, Sept 7 (Reuters) - Before they were arrested and sentenced to 16 years in prison on conspiracy charges, the six Venezuelan activists marched peacefully to call for better salaries for teachers, according to their families and lawyers. The latest moves by Venezuelan authorities demand a coordinated response from other countries, advocates said. He has long accused Venezuela's opposition of seeking to spread chaos. "But obviously I don't have faith in Venezuelan justice," said Oropeza, the wife of activist Bracho. Reporting by Vivian Sequera; Writing by Julia Symmes Cobb; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Oropeza, Alcides, Johnny Carvajal, Nicolas Maduro's, Yorbelis Oropeza, Fionnuala Ni Aolain, Clement Nyaletsossi Voulue, Juan Pappier, Gonzalo Himiob, Hugo Chavez, Venezuela's, Maduro, Javier Tarazona, Tarazona, Roland Carreno, Joel Garcia, Tarazona's, Himiob, Valentina Ballesta, Franks Cabana, Oscar Perez, Ana Leonor Acosta, Xiomara Andara, John Alvarez, Garcia, Bracho, Vivian Sequera, Julia Symmes Cobb, Daniel Wallis Organizations: REUTERS, Rights, Maduro, Judiciary, United Nations, Human Rights, Foro Penal, Amnesty International, Coalition for Human Rights, Democracy, Thomson Locations: Caracas, Venezuela, Rights CARACAS, U.S, they'll, Foro, Russia, China, Colombia, Brazil, Colombian, Venezuelan

☆ Investors’ China aversion is bad for everyone
▼ + stars: | 2023-09-07 | by ( Una Galani | ) www.reuters.com time to read: +7 min

FIERCE RESTRAINTAs a country on the cusp of high-income status, China ought to be a magnet for overseas investors. Companies in the MSCI China Index trade at 10 times their expected earnings for the next twelve months, half the level of the S&P 500 Index. However, assets following these mandates remain insignificant compared to the $1.3 trillion benchmarked to MSCI’s Emerging Markets Index. However, they have played a bigger role in the past decade funding Chinese companies through Hong Kong and U.S. listings. Chinese equities have a combined market value of $15 trillion, greater than Japanese, French, Indian and British stocks combined.

Persons: Xi Jinping, Goldman Sachs, Gavekal Dragonomics, Gavekal, Tesla, John Welling, Dow, Xi, Peter Thal Larsen, Thomas Shum Organizations: Reuters, U.S . Federal, People’s Bank of, Treasury, HK, Companies, Apple, Microsoft, BlackRock, China, WHO, International, U.S, Reuters Graphics Reuters, Dow Jones, Global, Thomson Locations: MUMBAI, China, People’s Republic, People’s Bank of China, United States, Hong Kong, U.S, Gulf, Asia, North America, Shanghai, Shenzhen

☆ Jimmy Kimmel says he was ‘intent on retiring’ prior to Hollywood strikes
▼ + stars: | 2023-08-30 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Jimmy Kimmel was ready to throw in the towel as the host of “Jimmy Kimmel Live,” but it seems the host has had a change of heart. “I was very intent on retiring right around the time where the strike started,” Kimmel said Wednesday on the debut episode of his new Spotify podcast “Strike Force Five,” which he hosts with fellow network TV late-night show personalities Seth Meyers, John Oliver, Jimmy Fallon and Stephen Colbert. “Now I realize, oh yeah, it’s kind of nice to work,” Kimmel added. In 2022, ABC announced that Kimmel signed a three-year contract extension to stay on as host and executive producer of “Jimmy Kimmel Live,” so regardless of his itch to retire, he’s under contract until 2025. As a result, the late-night shows – which rely on writers for monologues and comedy bits – all went dark in May.

Persons: Jimmy Kimmel, ” Kimmel, Seth Meyers, John Oliver, Jimmy Fallon, Stephen Colbert, “, Kimmel, ” Organizations: CNN, Spotify, Force, ABC, Writers Guild of America, WGA, Hollywood, SAG

☆ Explainer: What to expect when Hurricane Idalia hits Florida Wednesday
▼ + stars: | 2023-08-29 | by ( Julia Harte | ) www.reuters.com time to read: +4 min

[1/5] Men cut plywood in front of a store ahead of the arrival of Hurricane Idalia in Cedar Key, Florida, U.S., August 29, 2023. It is expected to reach Category 3 on the five-step Saffir-Simpson wind scale, qualifying it as a major hurricane, before reaching Florida's Gulf Coast on Wednesday morning, according to the National Hurricane Center (NHC). EVACUATION ZONESAuthorities are scrambling to move thousands of Florida residents out of danger before nightfall. At least 23 Florida counties have posted evacuation orders on their websites or social media pages as of Tuesday morning, including for parts of Tampa. DISRUPTIONSEven Floridians not under evacuation orders should expect disruptions as a result of Idalia, from power outages to shuttered schools and businesses.

Persons: Marco Bello, Idalia, Irma, Michael, Ian, Idalia's, Ron DeSantis, Julia Harte, Andy Sullivan Organizations: REUTERS, National Hurricane Center, NHC, National Guard, Tampa International Airport, Thomson Locations: Cedar Key , Florida, U.S, Florida's Gulf Coast, Florida, Georgia, South Carolina, of Mexico, Cuba, Gulf Coast, Bend, ., Apalachicola Bay, Tampa, Sarasota, Citrus County

☆ Fed Chair Powell calls inflation 'too high' and warns that 'we are prepared to raise rates further'
▼ + stars: | 2023-08-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

watch nowFederal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come. Regardless, Powell indicated it's too soon to declare victory, even with data this summer running largely in the Fed's favor. A need to 'proceed carefully'Powell's remarks follow a series of 11 interest rate hikes that have pushed the Fed's key interest rate to a target range of 5.25%-5.5%, the highest level in more than 22 years. He noted progress on all three, but said nonhousing is the most difficult to gauge as it is the least sensitive to interest rate adjustments. Inflation measured over the past three and six months has declined, however, which is encouraging," Powell said.

Persons: Jerome Powell, Powell, Jackson, it's, Ryan Detrick, Jack McIntyre, nonhousing Organizations: Kansas City, Fed, Bureau of Labor Statistics, Dow Jones, Carson Group, Federal, Market, Brandywine, Commerce Department, Labor Locations: Jackson Hole , Wyoming, policymaking

☆ Investors make a case for standing by Nvidia after another blowout report
▼ + stars: | 2023-08-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The results boosted shares of Nvidia as much as 8%. Justifying the valuation After a more than 232% jump in 2023, Nvidia shares are on pace for their third best year on record and best yearly stretch since 2001. Opening and building positions Despite the blowout report, Nvidia gave up some of its gains, while its beneficiaries and competitors slumped into negative territory. Even so, the moves boosted his case for beefing up his position in Nvidia and other AI plays. Cerity Partners' Jim Lebenthal revealed to CNBC's "Halftime Report" on Thursday that he initiated a position in Nvidia earlier this week to get a "toehold before earnings."

Persons: Josh Brown, CNBC's, Nancy Tengler, Paul Meeks, Ken Mahoney, Jerome Powell's, Meeks, Cerity, Jim Lebenthal Organizations: Nvidia, Devices, Marvell Technology, Micro Computer, Taiwan Semiconductor Manufacturing, Laffer, Investments, Independent Solutions Wealth Management, Asset Management, Apple, Federal, Computer, AMD, Cerity Partners Locations: Jackson Hole , Wyoming

☆ Explainer: More nuclear challenges await Japan after Fukushima water release
▼ + stars: | 2023-08-24 | by ( Kiyoshi Takenaka | ) www.reuters.com time to read: +4 min

[1/2] Activists attend a protest against Japan's plan to release treated wastewater from the Fukushima nuclear power plant into the ocean, at the national assembly in Seoul, South Korea, August 24, 2023. MOLTEN FUEL REMOVALTepco has described the effort to remove highly radioactive fuel debris from reactor cores as an "unprecedented and difficult challenge never attempted anywhere in the world". That was the worst nuclear plant accident before the 1986 Chornobyl tragedy in Ukraine, then part of the Soviet Union. About 12.1 trillion yen had been spent on such activities by March 2022, Japan's audit panel, which reviews government expenditures, has said. That represents an expenditure of more than half of the government's estimate, even before really tough tasks such as fuel debris retrieval have begun, in turns raising concerns about cost overruns.

Persons: Kim Hong, Kiyoshi Takenaka, Katya Golubkova, Clarence Fernandez Organizations: REUTERS, Rights, Tokyo Electric Power Co, Tepco, U.S, Japan, Japan Center for Economic Research, Thomson Locations: Seoul, South Korea, Japan, Pennsylvania, Ukraine, Soviet Union, Fukushima

☆ Is nuclear energy the answer to a sustainable future? Experts are divided
▼ + stars: | 2023-08-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

Nuclear power has been touted as a proven, safe way of producing clean energy, but why isn't it more widely adopted? Schroders noted that nuclear power is not only scalable, but much cleaner — emitting just 10-15 grams of CO2 equivalent per kilowatt hour. That's the reason why nations are having a second look at nuclear power, Shellenberger said. A report by global campaigning network Greenpeace in March 2022 was of the position that besides the commonly held concern of nuclear safety, nuclear energy is too expensive and too slow to deploy compared to other renewables. Greenpeace acknowledged that "all in all, nuclear power stations score comparable with wind and solar energy."

Persons: Sean Gallup, Michael Shellenberger, Schroders, Shellenberger, we're, CNBC's, Adam Fleck, hasn't, Fleck Organizations: Getty, Greenpeace, CNBC, Governments, International Energy Agency, Soviet Union Locations: U.S, Ukraine, Fukushima, Japan

☆ 'The fear is not going away': Christians in Pakistan afraid to return home
▼ + stars: | 2023-08-22 | by ( Charlotte Greenfield | ) www.reuters.com time to read: +5 min

"Today was the first day of school after summer vacations but I did not send them because of fear," said their mother, Kiran. But community members and advocates say the trauma and fear will be tough to heal and their safety is not assured. Many are afraid to return home but, still in shock, do not know where to rebuild their lives. A few streets away about 240 people live in the makeshift shelter in the school along with Kanwal's family. The fear that has got embedded in my heart and my children's minds is just not going away."

Persons: Samuel, Kanwal, cradling Samuel, Kiran, Haq Kakar, Naseem Anthony, Anthony, Akmal Bhatti, Charlotte Greenfield, Mubasher Bukhari, Clarence Fernandez Organizations: Pakistan's, Police, Thomson Locations: Kanwal, Jaranwala, Faisalabad, Pakistan, Punjab, Provincial

☆ Mutineers silent as Spain enjoy Women's World Cup triumph
▼ + stars: | 2023-08-21 | by ( Fernando Kallas | ) www.reuters.com time to read: +5 min

Twelve of the 15 players who took part in the mutiny and ended up not making Spain's World Cup squad decided to stay silent, giving no interviews and making no mention of the Women's World Cup on their personal social media accounts. The 15 e-mails from 15 players sent to RFEF President Luis Rubiales demanded radical changes in the team's structure. PLAYERS SILENTReuters tried to contact the players through their agents, who said they will remain silent. However, Spanish agent Carlota Planas, who represents world champions Mariona Caldentey, Cata Coll and four of the players who were left behind -- Pina, Guijarro, Lola Gallardo and Leila Aouhabi -- told Reuters the revolt played a major role in Spain's World Cup success. "Without them and their bravery, surely the RFEF would not have even considered making any improvements at all," Planas said.

Persons: Spain's Misa Rodriguez, Juan Medina, Spain's, Jorge Vilda, Luis Rubiales, Ona, Mariona, Aitana Bonmati, Sandra Panos, Patri, Mapi Leon, Claudia Pina, Carlota Planas, Mariona Caldentey, Cata Coll, Pina, Guijarro, Lola Gallardo, Leila Aouhabi, Planas, Marta Diaz, Manchester United's Lucia Garcia, Diaz, Fernando Kallas, Ken Ferris Organizations: Soccer Football, FIFA, Rights, La Roja, England, Spanish FA, World, League, Reuters, BePlayer Agency, Manchester, Thomson Locations: New Zealand, Spain, Madrid, Sydney, Spanish

☆ Ukraine continues to target Moscow with drone strikes, forcing the city to shut down its airports
▼ + stars: | 2023-08-19 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

Moscow has shut down four major civilian airports following a reported Ukrainian drone strike Friday. This comes amid an increase in Ukrainian drone strikes on Russia's capital and other regions. Meanwhile, a city in northern Ukraine is recovering after a Russian missile killed at least seven people and injured 90. The airports affected provide domestic and international flights for civilians, CNN reports, while several other smaller airports and military airports are still in operation. This development comes as Ukraine increases the frequency of drone attacks throughout Russia, according to CNN.

Organizations: Service, CNN, Russia, Air Force, Ukraine — Locations: Moscow, Ukrainian, Ukraine, Russian, Wall, Silicon, Putilkovo, Russia, Chernihiv —, Kyiv

Josh Green insisted Friday that the years-long undertaking of rebuilding Maui’s historic Lahaina community will prioritize residents’ desires over those of property developers. The western Maui community – once a lively economic and cultural hub – has been decimated by the wildfires that began tearing through the island on August 8. Sarah Salmonese sits where her apartment once stood in Lahaina, Hawaii, on Friday, August 11. Matthew Thayer/The Maui News/AP In pictures: The deadly Maui wildfires Prev NextSports teams pitch in to helpWith the stark task ahead of rebuilding leveled communities, some sports teams are contributing to ongoing relief efforts. Proceeds from the game on October 29 in Champaign, Illinois, will be donated to the Hawai’i Community Foundation Maui Strong Fund, which provides financial resources towards Maui’s recovery, according to the schools.

Persons: Josh Green, ” Green, Jaime Kanani Green, ”, “, they’ve, Tiare Lawrence, Green, he’s, Herman Andaya, Andaya, Sarah Salmonese, Go Nakamura, Ken Alba, Jae C, Yuki Iwamura, Patrick T, Fallon, Bryan Anselm, Mike Blake, Matthew A, Foster, Rick Bowmer, Lauren Haley, Makalea Ahhee, Justin Sullivan, Max Whittaker, Zoltan Balogh, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Matthew Thayer, WNBA’s Sparks, Bill Self, Brad Underwood Organizations: CNN, Hawaii Gov, Maui’s Emergency Management Agency, New York Times, Getty, Reuters, Staff, US Army National Guard, Maui Police, Facility, AP Volunteers, Grace Baptist, Volunteers, Los Angeles Times, AP, Washington Post, Kahului Airport, Technologies, Kahului, AP Helicopters, Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Maui News, Angeles, Angels, Dodgers, NFL’s Chargers, Rams, NBA’s Clippers, Lakers, NHL’s, Ducks, Angel City Football Club, LA Galaxy, University of Kansas, University of Illinois ’, Hawai’i, Strong, Maui Invitational Locations: Hawaii, Lahaina, Maui, –, Maui County, Lahaina , Hawaii, AFP, Wahikuli, Wailuku, Kula , Hawaii, Kula, Kihei, West Maui, Grace, Napili, Honokowai, Honolulu, Maalaea, Kahului, California, Las Vegas, Church, Lahaina Hongwanji, “ Despite California, Southern California, NHL’s Kings, Champaign , Illinois, Kansas, Illinois

☆ The unlikely love affair between Australia and Bollywood
▼ + stars: | 2023-08-19 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +11 min

CNN —It is the kind of unlikely love story that would make the scriptwriters of Asia’s biggest movie business proud. Film & Casting TempleHarman Baweja starred alongside Priyanka Chopra in “Love Story 2050,” shot in South Australia and released in 2008. “Australia realized that after ‘servicing’ Bollywood for over 13 years it was time to shift gears and move to collaboration with Indian cinema,” said Sharma. Salim MerchantChanging global appetiteOf no little importance is the growing audience for Bollywood productions in Australia. Anupam Sharma films for Australia's first ethnic reality show, "Bollywood Star," on SBS TV by WTFN.

Persons: Anthony Albanese, Narendra Modi, Tony Burke, “, ”, Anupam Sharma, Sharma, Feroz Khan –, “ Bollywood’s Clint Eastwood ” –, I’m, ’, “ Prem Aggan, Khan, Harman Baweja, Priyanka Chopra, Mike Rann, Baweja, Harry Baweja, Ajay Devgan, ” Sharma, Garth Davis, Dev Patel, Nicole Kidman, David Wenham, Weinstein, ” Brothers Salim, Sulaiman Merchant, “ UnIndian, Salim Merchant, Salim, Sulaiman, Mitu Bhowmick Lange, Bhowmick Lange “, ” Bhowmick Lange, Bhowmick Lange, La Trobe, Anupam, “ Everyone’s Organizations: CNN, Asia’s, Australian, Indian Film, of Melbourne, Sydney Opera House, Baweja Studios, “, Mumbai, –, ”, Co, “ Salaam, La Trobe University, La, SBS, WTFN Locations: Australia, Delhi, Brisbane, Sydney, Australian, Melbourne, India, Lake Gairdner, South Australia, Western Australia, “ Australia, ” Australia, Canada, China, Mumbai, Victoria, China Town

☆ 10-year Treasury yield slides as investors consider economic outlook
▼ + stars: | 2023-08-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over 8 basis points to 4.225%. This comes after the 10-year yield reached levels last seen in October 2022 on Thursday. The 2-year Treasury yield was down by more than 5 basis points to 4.908%. U.S. Treasury yields fell on Friday as investors considered the economic outlook, especially regarding inflation, and assessed what could be on the horizon for Federal Reserve monetary policy. Investors considered the state of the economy and assessed the outlook for Fed interest rate hikes after Wednesday's release of the minutes from the central bank's most recent meeting.

Organizations: Treasury, U.S, Federal Reserve, Investors, Fed

Other prosecutions of Mr. Trump have also resulted in threats. Twelve of the 23 jurors were required to approve an indictment. Soon after the indictment was released late Monday, some on social media began scrutinizing the jurors’ identities and revealing their personal details. “I thought it only fair to share a few names from that grand jury,” one user wrote on Facebook on Wednesday, including possible addresses and phone numbers for several jurors. “I will continue to post the other jurors as I find them.”

Persons: Trump, Tanya S, Fani, Willis, “, ” Organizations: Facebook Locations: Texas, Washington, Georgia, Fulton County

[1/5] A view of watches seized during a police raid, in Singapore, in this handout picture released on August 16, 2023. The raids on at least nine locations netted assets totalling a staggering S$1 billion, police said. A police statement said the group was suspected to be laundering proceeds from overseas organised crime, including scams and online gambling. Singapore has in recent years seen an influx of foreign money. ($1 = 1.3618 Singapore dollars)Reporting by Xinghui Kok; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: David Chew, Xinghui Kok, Raju Gopalakrishnan Organizations: Singapore Police Force, Facebook, REUTERS Acquire, Rights, Cypriot, Police, Monetary Authority, Thomson Locations: Singapore, Orchard, Sentosa, tony, China, Cambodia, Cyprus, Vanuatu, Chew

☆ 'Beat factor': Bank of America names top out-of-consensus global stocks to buy. Here are 12 of them
▼ + stars: | 2023-08-17 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Bank of America named a number of buy-rated European stocks its analysts are most positive on. The bank ranked stocks based on "beat factor" — its analysts' most out-of-consensus stock ideas based on price objectives and earnings estimates — in its Aug. 11 research note. The bank is 6% above consensus on the company, in terms of earnings per share for the 2023 fiscal year. Banks on BofA's beat list include Dutch firm ING and French company BNP Paribas . Small and midsized companies BofA also named several small-to-midsized firms on a list of European Beat Factor Top 10 stocks, all of which it is buy-rated on.

Persons: Banks, BofA Organizations: of America, Defense, Thales, ING, French, BNP, Smiths Group, Logitech, Wizz

☆ Here are Wednesday's biggest analyst calls: Amazon, Tesla, Nio, Nvidia, Roblox, Dick's and more
▼ + stars: | 2023-08-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Amazon as buy Goldman Sachs said the e-commerce giant remains a top idea at the firm. Jefferies reiterates Cava as buy Jefferies said it's sticking with its buy rating on shares of Cava after the Mediterranean restaurant's earnings report Tuesday. Jefferies reiterates Roblox as buy Jefferies said it's standing by its buy rating on Roblox but that it's lowering its price target to $38 per share from $50. "We reiterate our Buy rating on sequential improvement in product offerings and sales volume." Wedbush reiterates Dick's as outperform Wedbush said it's bullish on shares of Dick's heading into earnings next week.

Persons: Tesla, Bernstein, DINO, MGY, Goldman Sachs, Jefferies, Cava, Roblox, it's, Bud Light, Beer, KeyBanc, FTNT, Dr Pepper, Wells, Wells Fargo, Marqeta, Nio, Wedbush, Morgan Stanley, Getty Organizations: Street, Barclays, Mizuho, Chevron, North American, Citi downgrades, Citi, Deutsche Bank, Anheuser, Busch InBev, Nvidia, Network, Palo, UBS, GE HealthCare, Bank of America, Corp, News Corp, Getty Locations: MTDR, eCommerce, Cava, Singapore

WASHINGTON, Aug 16 (Reuters) - U.S President Joe Biden on Wednesday used the first anniversary of his signature Inflation Reduction Act to pitch the landmark clean-energy law as an economic powerhouse to a public that remains largely unaware of its contents. The legislation, Biden said, has shifted production of critical components away from China and into the United States. [1/3]U.S. President Joe Biden delivers remarks during an event to celebrate the anniversary of his signing of the 2022 Inflation Reduction Act legislation, in the East Room of the White House in Washington, U.S., August 16, 2023. The bill's name, the Inflation Reduction Act, helped solve a political problem for Democrats who were concerned that voters would punish them for soaring prices in the 2022 congressional elections. "Voters hear the Inflation Reduction Act, but they do not see their grocery bills coming down.

Persons: Joe Biden, Biden, Moody's, Kevin Lamarque, MARK Biden, WHAT'S, Jimmy Siegel, Jarrett Renshaw, Nichola Groom, Moira Warburton, Heather Timmons, Grant McCool, Jonathan Oatis, Andy Sullivan Organizations: Biden, LOVE, Wall, Bank of America, White, REUTERS, Democrats, Reuters, Washington Post, University of Maryland, White House, Democratic, Thomson Locations: China, United States, U.S, Asia, Europe, Washington , U.S

☆ One year on, Biden still needs to explain his signature clean energy legislation
▼ + stars: | 2023-08-16 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +6 min

REUTERS/Leah Acquire Licensing Rights Read moreAug 16 (Reuters) - U.S. President Joe Biden on Wednesday marks the first anniversary of signing his signature clean energy legislation called the Inflation Reduction Act by leading a campaign to better explain to Americans what, exactly, it does. Twelve months after it passed, the law commonly referred to as the IRA, like most major U.S. legislation, is drawing mixed reviews. Meanwhile, many Americans, even those who support Biden, don't know much about it, according to Reuters opinion polls. Biden has expressed regret at calling the bill the Inflation Reduction Act. "Voters hear the Inflation Reduction Act, but they do not see their grocery bills coming down.

Persons: Joe Biden, Leah, Biden, Democrat Biden, Donald Trump, Moody's, MARK Biden, Goldman Sachs, WHAT'S, Jimmy Siegel, Jarrett Renshaw, Nichola Groom, Moira Warburton, Heather Timmons, Grant McCool Organizations: Infrastructure Law, White, REUTERS, Democrat, U.S, Republican, LOVE, Wall Street, Bank of America, Democrats, Credit Suisse, University of Pennsylvania’s Wharton Business School, Reuters, Washington Post, University of Maryland, White House, Democratic, Thomson Locations: Washington , U.S, U.S, Utah

☆ This real estate stock could climb more than 20% as shares are skewed to the upside, Goldman Sachs says
▼ + stars: | 2023-08-16 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Brixmor Property Group's recent second-quarter earnings beat is only the beginning of potential growth for the shopping center real estate investment trust, according to Goldman Sachs. The Wall Street bank upgraded BRX to buy from neutral Wednesday, with a $27 per share price target, up from $23. Brixmor stock has dipped about 2% from the start of the year. The company reported June quarter funds from operations of 52 cents per share, according to FactSet, while analysts polled had forecast 50 cents. "While the upside is not new, we believe investors increasingly value the reliability of this source of cash flow growth."

Persons: Goldman Sachs, Caitlin Burrows, Burrows, — CNBC's Michael Bloom Locations: New York

☆ Airlines are scrambling to find spare parts after a major engine manufacturer issued a recall
▼ + stars: | 2023-08-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

And Hawaiian Airlines' CEO said it had "spare support" including from P&W. Airlines are scrambling to find spare parts due to an engine recall which threatens to cancel flights, the Financial Times first reported. JetBlue, Spirit Airlines, Hawaiian Airlines, and Wizz Air are among the fleets which will be affected, and they've been updating investors on how they plan to deal with the disruption. Peter Ingram, the CEO of Hawaiian Airlines, told investors it had "spare support" from engines returning from the shop, or spares "supplied by Pratt & Whitney to support the operating carriers." Spirit, JetBlue, and Hawaiian Airlines did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Pratt, Whitney, & Whitney, Joanna Geraghty, Peter Ingram, Pratt & Whitney, Wizz, RTX Organizations: Airlines, Financial Times, JetBlue, Spirit Airlines, Hawaiian Airlines, Wizz, &, Airbus, Pratt &, Reuters, Pratt, Whitney

☆ EV maker Canoo posts smaller-than-expected loss on lower costs
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A view shows a Canoo LDV (Lifestyle Delivery Van) electric vehicle in a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle maker Canoo (GOEV.O) posted a smaller-than-expected quarterly loss on Monday on lower research and development costs, sending its shares up 2% in extended trading. The company also unveiled its new lifestyle delivery vehicle 190, that has increased payload load capacity and body length compared with the original lifestyle delivery vehicle 130. Canoo's loss narrowed to $70.9 million in the second quarter from $164.4 million a year earlier. Research and development costs fell about 67% in the quarter, lowering operating expenses to $73.6 million from $173.5 million a year earlier.

Persons: Rebecca Cook, Canoo, Tony Aquila, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, Research, EV, U.S Defense Department, Walmart, National Aeronautics and Space Administration, NASA, Department of Defense, Thomson Locations: Livonia , Michigan, U.S, Bengaluru

Search resuls for: "Twelve"

25 mentions found