DIRS.INFO The most relevant business & tech news

☆ Turkish lira hits record low, stocks gain after Erdogan secures re-election
▼ + stars: | 2023-05-29 | by ( Canan Sevgili Libgeorge | Canan Sevgili | ) www.reuters.com time to read: +3 min

[1/2] A U.S. one dollar banknote is seen next to Turkish lira banknotes in this illustration taken in Istanbul, Turkey November 23, 2021. REUTERS/Murad Sezer/IllustrationLONDON, May 29 (Reuters) - Turkey's lira hit fresh record lows against the dollar on Monday, though stocks rallied, after President Tayyip Erdogan secured victory in Sunday's presidential election, extending his increasingly authoritarian rule into a third decade. The lira weakened to 20.077 to the dollar, breaking through the previous record low touched on Friday. The share of foreign asset managers holding Turkish stocks has dwindled in recent years and the market is chiefly driven by local investors. The nation's dollar bonds slipped to their lowest in at least six months last week, while CDS rose to a seven-month high.

☆ Standing (and Dancing) Strong at New York City Ballet
▼ + stars: | 2023-05-29 | by ( Gia Kourlas | ) www.nytimes.com time to read: +1 min

If New York City Ballet’s spring season could be bottled into a fragrance, it would be fresh and green, with the earthy, sweet scent of a breeze after a bout of rain. The company, seemingly all of a sudden, looks so strong, and more important, so light. As a new generation of dancers at City Ballet finds its way, there’s not only more individualism, but more cohesion among individuals. “Concerto Barocco” (1941) and “La Source” (1968) are brilliant dances. City Ballet is bigger than they are, but they know that they are its current caretakers.

☆ The Secret to Better Salmon Is Salt
▼ + stars: | 2023-05-21 | by ( Sam Sifton | ) www.nytimes.com time to read: +1 min

J. Kenji López-Alt went full Kenji recently and dove deep into the process of dry-brining salmon to achieve firmer, juicier, less albumin-stained cooked fillets. Which means if I can get to the store early today, I can make Ali Slagle’s new recipe for teriyaki salmon or my old one for pan-roasted salmon with jalapeño (above) this evening, and eat it with steamed rice and Mark Bittman’s salad of asparagus ribbons tossed in sesame oil and rice vinegar. As for the rest of the week. “Just made this and mid-meal felt the urgent need to come here and rave about it,” one subscriber noted on the recipe. “Super easy and super quick to make!”

☆ Russia adapted to the game-changing HIMARS, but Ukraine's new Storm Shadow missiles could put the fear back into its commanders, warfare experts say
▼ + stars: | 2023-05-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

Experts say Russian commanders are now facing logistical headaches and a renewed sense of fear. Warfare experts say Storm Shadow missiles could spark new logistical headaches for Russia, giving Kyiv a massive capability to put the fear back into Moscow's commanders who thought they were safe and out of reach. With an operational range of 155 miles, Storm Shadow will more than triple the distance for Ukraine's long-range strike capabilities. "So the more that these Russian commanders are exposed to Ukrainian fires, I expect their survivability to decrease," Barros said. "Employed well, in conjunction with psychological operations and other capabilities, Storm Shadow offers myriad opportunities to cognitively attack the enemy," he said.

☆ How to watch the PGA Championship: Start time, channels, and other things to know
▼ + stars: | 2023-05-18 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

Rob Schumacher/USA Today Network Tiger Woods walks the 18th green during the second round on Saturday, April 8. David J. Phillip/AP Fred Couples waves to patrons after finishing his second round on Saturday. Patrick Smith/Getty Images Patrick Cantlay plays a shot from a bunker on the 18th hole on Saturday. Rob Schumacher/USA Today Network Adam Scott plays a bunker shot on the second hole Thursday. Rob Schumacher/USA Today Network Hideki Matsuyama, who won the tournament two years ago, looks over a putt on the second hole.

He said there are no statistics available showing more people are committing violent offences while on bail. The bill introduced this week comes after multiple high-profile violent crimes that police allege were committed by people on bail, including the killing of a police officer late last year. The bill needs to be passed in Parliament, where the governing Liberals have a minority and require support of another party. People jailed awaiting trial may feel pressured to plead guilty to get out of jail sooner, Brown said. "We just need to hold those accountable when they fail to do their jobs as bail supervisors or when people fail to abide by their bail terms."

☆ Pacific meetings, defence pact, to go ahead in Papua without Biden
▼ + stars: | 2023-05-18 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

Biden had been expected to meet with 18 leaders from the region's main bloc, the Pacific Islands Forum, and sign a defence cooperation agreement with PNG on Monday. PNG Prime Minister James Marape is expected to announce details of the defence pact with the United States on Thursday, his office told Reuters. Fiji said Pacific leaders would hold discussions with Modi on regional cooperation. The chairman of the Pacific Islands Forum, Cook Islands Prime Minister Mark Brown, said the regional meeting had originally been organised between the Pacific countries and India, and his plans to travel to PNG were unchanged. Biden will arrange another summit of Pacific island leaders this year after the disappointment caused by his cancellation of the PNG visit, his national security adviser Jake Sullivan said on Wednesday.

☆ Fed's watchdog defends work before Senate amid questions over his independence
▼ + stars: | 2023-05-17 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

The Fed IG has faced particular heat over its investigation into the central bankers' trading activities. In addition, the Fed’s IG has yet to complete a hotly anticipated investigation into regional Fed leader trading even after news of that situation broke in September 2021. He said the fact that the report absolving Powell and Clarida was short on information was “intentional” due to the still-ongoing inquiry into regional Fed trading. “I absolutely agree that the allegations of improper trading and ethics violations are disturbing and they are alarming,” the Fed IG said. Leading the Senate panel, Democrat Elizabeth Warren blasted the incompleteness of the investigation and tied many of the IG’s problems to structural issues.

☆ Lawmakers are infuriated with Fed's inaction in its insider trading investigation
▼ + stars: | 2023-05-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

CNN —Congressional lawmakers grilled Federal Reserve Inspector General Mark Bialek Wednesday over possible insider trading among Fed officials in 2020, accusing the nation’s central bank of inaction. The heads of the Boston and Dallas Federal Reserve banks retired early in 2021 after trades they made before and during the pandemic came to light. Bialek told lawmakers there was no conflict of interest and that he was still able to conduct fair, independent investigations. This is not acceptable.”The Office of Inspector General declined to comment Wednesday night. A separate Fed investigation into SVB’s collapse, not involving Bialek, faulted Fed supervisors.

☆ Parts Maker Rejects Demand to Recall Air-Bag Inflators Regulators Call Unsafe
▼ + stars: | 2023-05-15 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

General Motors recalled nearly one million SUVs that used the ARC air bags, including the GMC Acadia, from model years 2014 to 2017. Photo: mark blinch/ReutersAn auto-parts manufacturer is rejecting a demand from federal regulators that it recall 67 million air-bag inflators that the regulators say are unsafe, setting up a potential legal battle that would have wide-ranging ramifications for the industry. In a letter released publicly Friday, the National Highway Traffic Safety Administration said it had tentatively concluded that the inflators made by Tennessee-based ARC Automotive contain a “safety-related defect” and should be recalled. The inflators have been linked to exploding incidents that have killed two people and injured others.

☆ Stocks week ahead: SVB and Signature Bank execs are set to testify next week
▼ + stars: | 2023-05-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The US Senate Committee on Banking, Housing and Urban Affairs is holding three hearings this coming week centered around the collapses of Silicon Valley Bank and Signature Bank in March. ET : Greg Becker, former chief executive, Silicon Valley Bank; Scott Shay, former chairman and co-founder, Signature Bank and Eric Howell, former president, Signature Bank. ET : Mark Bialek, inspector general, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; Paul Kupiec, senior fellow, American Enterprise Institute and more. Since then, the Federal Reserve and Federal Deposit Insurance Corporation have released reports detailing management missteps at SVB and Signature Bank, as well as federal regulators’ own mistakes in properly addressing red flags preceding the banks’ demises. A separate report from the Federal Reserve Bank of New York on Friday shows that American households are becoming increasingly frugal.

☆ Battle for China's electric SUV market heats up at home and abroad
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +5 min

The trend will spread abroad with growing exports of China-made electric SUVs. The market for SUVs has boomed in China over the past decade and now represents almost 40% of all cars sold, with 400 SUV models of all fuel types. Legacy automakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Toyota (7203.T) are counting on new electric SUVs to bolster China sales. Tesla and Renault (RENA.PA) have already been exporting their China-made electric SUVs to Europe on a large scale. Chinese automakers have their own plans to grow electric SUV sales to Europe.

☆ The case against serial liar George Santos is a slam dunk, legal experts say
▼ + stars: | 2023-05-10 | by ( Laura Italiano | Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

GOP Congressman George Santos pleaded not guilty Wednesday to 13 counts of campaign-related fraud. Its 20 pages present a "slam dunk" case, and paint Santos as "buffoonish," "delusional," and "The definition of a dumb criminal," they said. "He provided a trail that — I want to say FBI bloodhounds, but FBI cocker spaniels could follow," longtime Manhattan defense attorney Ron Kuby said. Santos' repeated, ongoing lies dragged him into the spotlight — now they could land him behind bars, experts noted. Santos "told a lot of lies on federal documents," another longtime Manhattan defense attorney, Arthur Aidala, said, describing the indictment allegations in a nut shell.

☆ BaFin president: 'We don't have a global banking crisis at the moment'
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaFin president: 'We don't have a global banking crisis at the moment'Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC's Annette Weisbach that Germany has seen the same impacts from higher rates as many other nations around the world.

☆ German regulator warns of a 'nervous time' for banks, predicts stress in the property market
▼ + stars: | 2023-05-09 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images)Germany's financial regulator on Tuesday warned that the country's banking system is undergoing a real-life stress test amid the current volatility, also predicting significant weakness for the commercial property sector. Pressures facing the sector have intensified as many central banks push up their benchmark rates, leading to specific market dislocations. Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC that Germany has seen the same impacts from higher rates as many other nations around the world. He said that the German banking system "has taken some pain," but highlighted that there is "no systemic danger" and the financial system has managed to absorb the impacts of higher rates well. However, problems can arise when banks take on additional risk and fail to keep up with a continued and sharp increase in rates.

☆ Warren Buffett's rival for attention at Berkshire weekend: Squishmallows
▼ + stars: | 2023-05-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

[1/2] Investors and guests walk by a Squishmallow display during the Berkshire Hathaway Inc in Omaha, Nebraska, U.S. May 5, 2023. On Friday, the start of Berkshire Hathaway Inc's (BRKa.N) three-day shareholder weekend, thousands thronged a convention hall in downtown Omaha, Nebraska, for five hours to buy discounted products from many Berkshire-owned brands. For many, the $9.99 Squishmallows featuring Buffett and Munger, made by Berkshire's recently acquired toy company Jazwares, were the must-have memento. About 10,000 Buffett and Munger Squishmallows were sold, and by Monday they were fetching as much as $255 at auction on eBay. Reporting by Jonathan Stempel in Omaha, Nebraska Editing by Megan Davies and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Republicans want to push Manchin out of a reelection bid because they think he's the last Democrat who can win in deep red West Virginia: 'You can't say that it's impossible for him to win'
▼ + stars: | 2023-05-08 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Republicans are looking to nudge Joe Manchin out of a Senate reelection bid in 2024. Still, Republican leaders aren't dismissing Manchin, as he has withstood the GOP lean of the state. And the state Senate and state House of Delegates, which had robust Democratic majorities just over a decade ago, now have GOP supermajorities. But if Manchin does run, Republicans should expect a tenacious campaigner who has shown that he won't be outworked. "He has that Clinton-esque ability to make everybody feel like he's your friend and he's listening to you and he's concerned about you," Hickey told Politico.

☆ Sebastian Steudtner has turned to science as he chases the world’s biggest waves
▼ + stars: | 2023-05-08 | by ( Matt Majendie | ) edition.cnn.com time to read: +15 min

CNN —Sebastian Steudtner holds the world record for the biggest wave ever surfed. Steudtner holds the world record for the biggest wave ever surfed. Win, win, win or perform, perform, perform. How boring is it to win and win and win? If I want to catch waves, I don’t think about you because you’re in my way, so you’re naturally competitive.

☆ Analysis: Battle for China's electric SUV market heats up at home and abroad
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +5 min

Barrick has been building its copper business organically and said it is exploring copper drilling opportunities in countries such as Chile and Argentina. "We have always said that if you want to be relevant as a gold miner you have to be in copper business," Bristow added. Gold is often a byproduct of copper, a critical metal required for electrification and the transition to a greener economy. Teck last month withdrew its plan to split its coal and metals business after it failed to secure shareholders' approval. Bristow said Glencore's proposal made a "lot of sense" as Glencore could handle Teck's debt and had offered a clean split of Teck's business.

☆ My husband and I quit our cushy jobs abroad and moved back to our tiny Indiana town, where our house cost just $80,000 and we feel like we've won at life
▼ + stars: | 2023-05-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Tiffany Baker and her husband have lived and traveled all over the world with their three children. But they moved back to Terre Haute, Indiana, a city of about 60,000 an hour from Indianapolis. Tiffany: We love living overseas and traveling to experience new places, but nothing beats living in Terre Haute, Indiana. The Baker Family in Terre Haute. Living in Terre Haute allows us to use our money and time to do whatever we want, whenever we want.

☆ Michael Bennet demonstrates his go-to piquant tuna sandwich recipe after chatting with cookbook author Mark Bittman
▼ + stars: | 2023-05-03 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Sen. Michael Bennet discussed food politics with cookbook author Mark Bittman in a new podcast. Bennet shared how he devoured Bittman's recipes during the pandemic and now cooks them regularly. Bennet told Insider he whips up a briny tuna sandwich creation every chance he gets. "I'm going to show you how to make the most sublime thing that is in Mark Bittman's cookbook," the Colorado Democrat says as he walks social media fans through a savory offering punched up by anchovy-spiked olive tapenade. "And I rattled off Mark Bittman's recipe for stir-fried tofu."

☆ Michael Bennet demonstrates his go-to piquant tuna sandwich recipe in chat with cookbook author Mark Bittman
▼ + stars: | 2023-05-03 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

☆ What King Charles' coronation means for the UK economy
▼ + stars: | 2023-05-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

But the UK economy as a whole could suffer as workers take an extra day’s holiday. John Lewis' Coronation Lewis Bear. John Lewis & PartnersDepartment store John Lewis has had to limit in-store purchases of its Coronation Lewis Bear to two per household, and the teddy is out of stock online. For the coronation, UK luxury brands “have procured unique merchandise at all levels of the economy and we’re seeing people buying it, particularly Americans and EU customers,” she added. (The coronation holiday will be the third holiday Monday this month.)

☆ Here's what to expect from today's Federal Reserve announcement
▼ + stars: | 2023-05-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. None of those figures are satisfactory for Fed officials. "Most Fed officials don't seem comfortable that the rate hike cycle is over," Citigroup economist Andrew Hollenhorst said in a note. The next Fed policy meeting comes in six weeks, on June 13-14, and April's consumer price report is due in one week, on May 10. This Fed meeting is crucial."

Search resuls for: "Mark B"

25 mentions found