DIRS.INFO The most relevant business & tech news

☆ Rishi Sunak’s party just took a pounding in UK local elections. The road to recovery is steep
▼ + stars: | 2023-05-05 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

And they made grim viewing for a man hoping to lead his Conservative Party back to power in just over a year’s time at the next UK general election. With nearly three-quarters of results declared by late afternoon on Friday, the Conservatives had shed 35 local authorities and more than 600 councilors. Prime Minister Rishi Sunak's Conservative Party suffered a drubbing at local elections. They are downplaying the local elections and pointing out that Labour would still need a swing bigger than Tony Blair achieved in 1997 to win a majority of just one seat. The Conservative Party has developed a taste for regicide since 2016.

☆ Jill Biden arrives in London for the pomp and pageantry of King Charles III’s coronation
▼ + stars: | 2023-05-05 | by ( Betsy Klein | ) edition.cnn.com time to read: +3 min

CNN —First lady Dr. Jill Biden has arrived in London, where she is set to bear witness to the full pomp and pageantry of the coronation of King Charles III and Queen Consort Camilla, leading the US delegation to this weekend’s highly anticipated events. President Joe Biden spoke by phone last month with King Charles, congratulating him on his coronation as he reaffirmed the strong ties between the UK and US. As reports surfaced that President Biden would not attend the coronation, despite the expected presence of dozens of world leaders, US officials downplayed the possibility and noted that no previous US president has attended a British monarch’s coronation. The president told the king that the first lady would be attending the coronation, but made clear in the call that he plans to meet with King Charles in the future. “We really talked about the woman, and who she was, and what she meant really to the whole world,” Biden said, adding that she noted to King Charles the human toll of grief.

☆ Inside Wells Fargo's 'chaotic' journey to transform its services for the ultrarich
▼ + stars: | 2023-05-04 | by ( Hayley Cuccinello | Reed Alexander | ) www.businessinsider.com time to read: +23 min

In late 2020, some 300 Wells Fargo employees were summoned to a conference call. "I actually welcomed that, although I did like Abbot Downing," he said of folding Abbot Downing into the private bank. One team of legacy Abbot Downing employees with $3.5 billion in assets left for Hirtle Callaghan in June 2021. Today, Ginter runs a registered investment advisor called Callan Family Office, which some former Abbot Downing employees refer to as "the new Abbot Downing." Are you a current or former client of Wells Fargo Private Bank or Abbot Downing?

☆ Moscow says US behind Kremlin drone attack, Russian forces target Kyiv
▼ + stars: | 2023-05-04 | by ( Pavel Polityuk | ) www.reuters.com time to read: +5 min

Putin's spokesman Dmitry Peskov, without providing evidence, said Ukraine had acted on U.S. orders with the alleged drone attack on the Kremlin citadel in the early hours of Wednesday. "Attempts to disown this (attack on the Kremlin), both in Kyiv and in Washington, are, of course, absolutely ridiculous. Separately, Russia's foreign ministry said the alleged drone attack "must not go unanswered" and that it showed Kyiv had no desire to end the 15-month old war at the negotiating table. Russian emergency services quickly extinguished a fire at the Ilsky oil refinery, one of the largest in southern Russia, after a drone attack set product storage facilities ablaze, TASS news agency reported. Reporting by Kyiv, Moscow and Amsterdam buros Writing by Gareth Jones Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ Wells Fargo is pushing for quantity over quality in its private bank
▼ + stars: | 2023-05-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Which brings us to a fantastic story about Wells Fargo's decision to reorganize how it serves its ultra-rich clients. And while many understood some changes were necessary, nearly everyone agreed the bank didn't go about it the right way. Read more about Wells Fargo's chaotic reorganization of its private bank. It's the latest move in what has been an active 12 months for the bank's tech division. The accounting firm had signed off on financial statements from Silicon Valley Bank, Signature Bank, and First Republic, the Financial Times reports.

☆ We moved from Chicago to a laid-back remote island in the South you can only get to by boat. We love it so far.
▼ + stars: | 2023-05-04 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

In 2022 they moved their family to Daufuskie Island, South Carolina, near the Georgia border. Most Daufuskie Island residents leave their cars on Hilton Head and instead traverse the island by golf cart. Haig PointWe've come to Daufuskie Island five or six times before we decided to move. The ferry travels across the Calibogue Sound between Daufuskie Island and Hilton Head. Nicolle: The water taxi is free for children under 18, and for adults it's $6 each for the first two adults.

☆ A mysterious new Chinese military blimp was spotted by a satellite in a desert military base
▼ + stars: | 2023-05-02 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

BlackSky, a US satellite firm, recorded footage of a mysterious Chinese blimp. The 100 foot blimp was hovering over a remote military base in northwest China. It was pictured shortly before the US shot down a Chinese spy balloon. They show a blimp, believed to be around 100 feet long, over the runway of a military base in Xinjiang Province, northeastern China. Aerospace experts who analysed the images for CNN said they showed a runway and other features indicating that the base was capable of launching airships.

CNN —The strength of tornadoes is rated on the Enhanced Fujita, or EF, Scale. The scale runs from 0 to 5 and rates tornadoes after they’ve hit by assessing damage to determine wind speed. The scale is named after Tetsuya “Ted” Fujita, an engineer and meteorologist who developed the original version of it in 1971. EF4: 166- to 200-mph wind gustsEasily destroying homes, tossing cars and downing large trees, these tornadoes can be devastating. Cheney Orr/ReutersEF5: 200+-mph wind gustsThese monsters cause complete devastation, flattening nearly everything in their path.

☆ Russian pilots trying to ‘dogfight’ US jets over Syria, US Central Command says
▼ + stars: | 2023-04-29 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

CNN —Russian pilots are trying to “dogfight” US jets over Syria, according to a spokesman for US Central Command, part of a recent pattern of more aggressive behavior. The attempts have happened in several of the most recent instances of aggressive behavior from Russian pilots, Col. Joe Buccino said. A video released by US Central Command from April 2 shows a Russian SU-35 fighter jet conducting an “unsafe and unprofessional” intercept of a US F-16 fighter jet. That also includes 26 instances in which armed Russian jets flew over US and coalition positions in Syria. Russia subsequently presented state awards to the pilots of the Russian jets.

☆ BBC's Sharp resigns after breaching rules over Boris Johnson loan
▼ + stars: | 2023-04-28 | by ( Sarah Young | ) www.reuters.com time to read: +3 min

The investigation, initiated by the public appointments watchdog, examined the way in which Sharp was selected by the government to chair the corporation in 2021. Specifically, it looked at whether Sharp fully disclosed details of his role in facilitating an 800,000 pound ($1 million) loan for Johnson before he was named chairman. The report found that, while he had breached the government's code for public appointments, that breach did not necessarily invalidate his appointment. "I have decided that it is right to prioritise the interests of the BBC," Sharp said in a statement. The report mentions Johnson's Downing Street office as having recommended Sharp as "a strong candidate" for the role, which attracted 23 applications.

☆ Thunderstorms Lash Parts of the South, Spawning Tornadoes
▼ + stars: | 2023-04-27 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

At least three tornadoes hit Florida on Thursday evening, damaging homes and downing trees and power lines, as severe thunderstorms tore across parts of the Southeast, the National Weather Service in Tallahassee said. No injuries were reported, according to local officials, who said emergency workers were still trying to assess the damage. “We have power lines down and no power,” said Lisa Shuler, the assistant emergency management director of Liberty County. About 50 miles southwest, in the city of Lynn Haven, residents reported golf ball-size hail that smashed into their homes and cars. Trees and roofs had also been damaged, an operator with the Lynn Haven Police Department said by phone.

☆ UK's Sunak launches charm offensive on business leaders
▼ + stars: | 2023-04-23 | by ( Andrew Macaskill | ) www.reuters.com time to read: +2 min

Sunak has made reviving the economy one of his five key priorities, after Britain's gross domestic product only regained its pre-pandemic size in February. Sunak, a former investment banker, along with finance minister Jeremy Hunt and business minister Kemi Badenoch will speak at a series of events on Monday to more than 200 executives representing sectors including technology and manufacturing. "We are bringing together some of the UK's biggest companies and investors for meaningful dialogue – and I'm a prime minister passionate about working with business to unlock opportunity and progress," Sunak said in a statement. In what his office called his first ever LinkedIn Live event, business leaders will on Monday morning also have the opportunity to ask Sunak questions about business policy. The prime minister will unveil an innovation category at the Great British Entrepreneur Awards on Monday evening, hosted by the finance minister at Downing Street.

☆ UK Deputy Prime Minister Dominic Raab resigns over bullying investigation
▼ + stars: | 2023-04-21 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Dominic Raab, First Secretary of State and Secretary of State for Foreign and Commonwealth Affairs walks in Downing Street on September 3, 2019 in London, England. U.K. Deputy Prime Minister Dominic Raab resigned on Friday, following an inquiry into bullying allegations. This is a breaking news story, please check back later for more.

☆ NHL roundup: Avs erase 2-goal deficit, edge Kraken
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +3 min

Alexandar Georgiev turned away 27 shots for the Avalanche, who overcame a two-goal deficit and evened the Western Conference series at 1-1. Justin Schultz and Brandon Tanev scored for the Kraken, Yanni Gourde assisted on both goals and Philipp Grubauer made 38 saves. Chandler Stephenson and William Karlsson each finished with a goal and assist and Jack Eichel scored his first career playoff goal for Vegas, which evened the best-of-seven series 1-1. Mitchell Marner added two goals and an assist for the Maple Leafs, who evened the best-of-seven series at one win apiece. William Nylander contributed a goal and an assist and Zach Aston-Reese scored a goal for Toronto.

☆ UK Deputy Prime Minister Dominic Raab resigns after bullying probe
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 21 (Reuters) - British Deputy Prime Minister and justice minister Dominic Raab resigned on Friday, following an independent investigation into formal complaints of bullying. In a letter to Prime Minister Rishi Sunak published on Twitter, Raab said the inquiry had set a dangerous precedent, but that he would remain supportive of the government. "I called for the inquiry and undertook to resign, if it made any finding of bullying whatsoever. However, he added: "In setting the threshold for bullying so low, this inquiry has set a dangerous precedent. Raab's resignation means a third senior minister has departed over their personal conduct since Sunak entered Downing Street in October promising a government of integrity.

☆ Dominic Raab, U.K. Deputy Prime Minister, Resigns Amid Bullying Scandal
▼ + stars: | 2023-04-21 | by ( Mark Landler | Stephen Castle | ) www.nytimes.com time to read: +1 min

Dominic Raab, Britain’s deputy prime minister, resigned on Friday after an investigation into claims that he had bullied subordinates, as Prime Minister Rishi Sunak struggles to put a legacy of scandal behind his Conservative government. Mr. Raab, a hard-line Brexiteer who is one of Mr. Sunak’s most loyal political allies, had long denied allegations of abusive behavior. But the investigation, by an independent barrister, laid out a litany of cases in which civil servants accused Mr. Raab, who also serves as justice secretary, of mistreating them. Mr. Raab becomes the third cabinet minister in six months to be forced out over ethics issues, illustrating again the challenge that Mr. Sunak has had in delivering his promise to lead a government of “integrity, professionalism and accountability at every level.”Mr. Sunak rose to power after his former boss, Boris Johnson, was caught in a whirlpool of scandals, most prominently a series of Downing Street parties that violated lockdown rules. His immediate predecessor, Liz Truss, was forced out after her trickle-down tax cuts backfired.

Sunak spent much of Thursday considering the findings of the independent investigation into claims against Dominic Raab, his most senior minister and ally. A spokesman for Sunak said the prime minister had received the report and was "considering the findings". One government official later said the report would not be published on Thursday as the prime wanted to go through the report thoroughly. The investigation was asked to establish the facts, but not to form a conclusion about whether Raab was guilty of bullying. The ultimate arbiter will be the prime minister, who will decide whether Raab has broken the ministerial code, which states ministers should treat officials with respect.

☆ UK PM Sunak considers bullying report into his deputy Raab
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 20 (Reuters) - British Prime Minister Rishi Sunak has received an independent report into allegations of bullying against Deputy Prime Minister Dominic Raab and is considering his response, Sunak's spokesperson said on Thursday. "The prime minister has received the report from Adam Tolley the independent investigator. He is considering those findings," Sunak's spokesperson said. The spokesperson said that Sunak wished to publish his response as soon as possible, but did not say if that would be on Thursday. Raab, who is also justice minister, has said he was confident he had behaved professionally throughout, while Sunak initially defended his deputy when the reports surfaced, saying he did not recognise allegations that Raab had bullied staff.

☆ British government publishes PM Sunak and other ministers' interests
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 19 (Reuters) - Britain's government on Wednesday published an updated list of ministers' interests, including an outline of the affairs of Prime Minister Rishi Sunak, who is under investigation over whether he properly declared his wife's shareholdings. The prime minister's spokesperson said on Monday that Sunak's wife's shareholding in Koru Kids had been transparently declared, and opposition parties called for Sunak to publish an updated list of ministerial interests to improve transparency. The list of ministerial interests said that Sunak's own financial interests were handled through a "blind trust/blind management arrangement." Sunak and Murthy are the richest ever occupants of 10 Downing Street. She subsequently gave up the status and said she would pay British tax on her global income.

☆ A 1960s-era cannon is 'kicking ass' against Russia's drones, but the country that makes ammo for it won't send more to Ukraine
▼ + stars: | 2023-04-19 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +10 min

But Switzerland, where Gepard ammo is made, is not allowing more of that ammo to be sent to Ukraine. The Gepard SPAAGA German Gepard anti-aircraft tank during an exercise near Munster in June 2007. German defense company Krauss-Maffei Wegmann built 570 Gepards between 1963 and 1980 — 420 for the German Bundeswehr, 95 for the Dutch army, and 55 for the Belgian army. Kay Nietfeld/picture alliance via Getty ImagesAfter being criticized for its reluctance to send heavy weaponry to Ukraine, the German government promised some 50 Gepards to Ukraine in April 2022. In February, German Defense Minister Boris Pistorius announced that German firm Rheinmetall would restart ammo production for the Gepard.

☆ Yellen to lay out U.S. economic priorities on China in Thursday speech
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +3 min

Yellen, who said last week she still hopes to visit Beijing to meet with her new Chinese economic counterparts, will deliver remarks at Johns Hopkins University's School of Advanced International Studies, the Treasury said in a statement. Yellen's speech will detail the Biden administration's economic priorities on China, including securing U.S. national security interests, fostering "healthy" competition and cooperating, where possible, on global issues such as climate change, debt relief and macroeconomic stability. Yellen also is expected to highlight U.S. economic strength. A Treasury official said the speech comes at an opportune time just after Yellen also spoke last week with counterparts from G7 democracies, Australia and New Zealand. Another audience for the remarks is China's new economic leadership team led by Liu's replacement, Vice Premier He Lifeng.

☆ Take a look back at 24 Sussex Drive, the iconic residency of the Canadian PM now abandoned and overrun with rodents
▼ + stars: | 2023-04-16 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

24 Sussex Drive, the official residence of the Canadian prime minister, is in total disrepair. Canadian Prime Minister Jean Chretien meets with Premiers and Territorial leaders Chretien's residence in Ottawa, February 4, 2003. Canadian Prime Minister Paul Martin (L) holds a First Ministers' meeting at his official residence in Ottawa, January 30, 2004. Conservative leader and Canada's Prime Minister Stephen Harper reacts in between songs while practicing with his band "Herringbone" at 24 Sussex Drive, Harper's official residence, in Ottawa April 22, 2011. Since taking his post as head of state, prime minister Trudeau has opted to live in Rideau Cottage, just less than a mile away from 24 Sussex Drive.

☆ Oh Canada, is this the year the Stanley Cup comes home?
▼ + stars: | 2023-04-15 | by ( Steve Keating | ) www.reuters.com time to read: +5 min

Not since the Montreal Canadiens beat the Los Angeles Kings in 1993 has the Stanley Cup been paraded through a Canadian city, an ego-deflating run of failure that has scarred a generation of fans. After winning the Stanley Cup in 1967, Maple Leafs defenceman Larry Hillman allegedly jinxed the team, saying they would not win it again until the club settled a contract dispute and paid him the $2,400 plus interest he believed he was owed. The Maple Leafs' big misfortune is playing in the same division as the Boston Bruins, who this season set NHL records for wins (65) and points (135), and the Tampa Bay Lightning, Stanley Cup finalists for the last three years. These two teams are once again hurdles that must be cleared on the way to a Stanley Cup. When the playoffs open on Monday, the Oilers will be the first of the Canadian teams to hit the ice, hosting the Los Angeles Kings in Game One of their best-of-seven series.

☆ UK economy flat in February as strikes and inflation bite — and the IMF delivers reality check
▼ + stars: | 2023-04-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

LONDON — The U.K. economy flatlined in February as widespread industrial action and persistently high inflation stymied activity. Large-scale strike action has been carried out in recent months by teachers, doctors, civil servants and rail workers, among others — members of the sectors that were the largest contributors to the fall in February services output. The independent Office for Budget Responsibility no longer expects the U.K. economy to enter a technical recession in 2023 — defined as two consecutive quarters of contractions. "Industrial strike action was the primary root cause of stagnating growth in the U.K. over the month. Much of the population also remains mired in a cost-of-living crisis, as inflation continues to vastly outpace wage growth, exacerbating the threat of further industrial action.

☆ India's Modi raises embassy security with UK's Sunak after vandalism
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

April 13 (Reuters) - Britain should take action after a violent incident during protests outside India's embassy in London last month, India's Prime Minister Narendra Modi told British counterpart Rishi Sunak on Thursday. New Delhi has been upset about protests and vandalism by Sikh separatists - who seek an independent Sikh homeland called Khalistan - outside the Indian High Commission in London and elsewhere in the U.S. and Canada. In a telephone conversation with Sunak, Modi called for "strong action against anti-India elements" by the British government following the incident, Modi's office said in a statement. "He stressed that extremism had no place in the UK and updated on the steps being taken to ensure the security of Indian High Commission staff," Sunak's office added. The demonstration outside the Indian High Commission was staged to denounce recent police action in the Sikh-majority Indian state of Punjab against a pro-Khalistan Sikh preacher.

Search resuls for: "Downing"

25 mentions found