DIRS.INFO The most relevant business & tech news

☆ Ending the retailers’ crisis has a high price tag
▼ + stars: | 2023-05-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: +5 min

BARCELONA, May 2 (Reuters Breakingviews) - High-street retailers are facing a heavy bill to weather the cost-of-living crisis. The cost of heating stores and staff requests for pay rises are squeezing operating margins at top players like H&M (HMb.ST) and Next (NXT.L). Shrinking disposable income is making it hard for these retailers to boost sales to protect margins. Most bricks-and-mortar retailers trade on higher multiples than they did before the war in Ukraine sparked soaring inflation. But that leaves a squeezed middle of retailers like H&M exposed to the brunt of the retail crisis.

☆ Here's what history indicates is in store for U.S. and global stocks in May
▼ + stars: | 2023-05-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

On the other hand, May hasn't been such a sure performer historically, according to CNBC Pro's analysis of S & P 500 index data on FactSet dating back to 1928. On average, stocks have risen in May 56 out of the 95 years, or about 60% of the time. The losses are more severe at 4.7% when there are negative returns in May. The chart below shows month-on-month performance of the S & P 500 over the past 20 years. For the second quarter as a whole, the direction of travel for the S & P 500 was less clear .

☆ The Shining Promise and Dashed Dreams of China’s Live Shopping Craze
▼ + stars: | 2023-04-28 | by ( Vivian Wang | ) www.nytimes.com time to read: +1 min

Now nearly half of China’s one billion internet users have tried it, even as it remains largely unfamiliar in the West. To Americans, it may be reminiscent of television shopping — but interactive and, as a result, far more compelling. For viewers, the appeal is not only convenience, but also the feeling of being catered to. Global brands from Ikea to Louis Vuitton have paid China’s influencers to stream their products. But much of the appeal of this line of business is that anyone can do it: Farmers, factory workers and retirees have joined the frenzy.

☆ Intel reports largest quarterly loss in company history
▼ + stars: | 2023-04-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

It's also Intel's largest quarterly loss of all time, beating out the fourth quarter of 2017, when it lost $687 million. In the first quarter, Intel swung to a net loss of $2.8 billion, or 66 cents per share, from a net profit of $8.1 billion, or $1.98 per share, last year . For the second quarter, Intel expects to lose 4 cents per share on revenue of $12 billion. Still, the loss per share and sales were slightly better than soft Wall Street expectations. In the meantime, a business that used to print money is struggling, especially in PC chips, which used to be the company's strongest product line.

☆ Putin's political enemies and Kremlin critics face an 'extremely dangerous' situation in Russia right now
▼ + stars: | 2023-04-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

"All of the opposition political leaders are either in jail or under restrictive measures or outside of the country. The oppression of political opposition figures in Russia is nothing new. Some accuse the Russian state of trying to poison them, while others have died in suspicious circumstances. Evgenia Novozhenina | ReutersThe persecution of political opposition figures attracted global attention in 2020 when the high-profile Kremlin critic Alexei Navalny was poisoned with a Novichok nerve agent. Russian political analyst Tatiana Stanovaya agreed that "it's extremely dangerous" to be a critic of the Kremlin now, no matter what your background is.

☆ Tiffany unveils revamped New York flagship, showcasing new look
▼ + stars: | 2023-04-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

Global Brand Ambassador Gal Gadot along with Anthony Ledru, President and Chief Executive officer of Tiffany & Co attend a ribbon cutting ceremony for reopening of the Tiffany flagship store on 5th Avenue in Manhattan in New York City, New York, U.S., April 26, 2023. REUTERS/Brendan McDermidNEW YORK, April 26 (Reuters) - Tiffany & Co. lifted the lid on its newly renovated New York city flagship on Wednesday, the centerpiece of a broad brand reset orchestrated by its owner, the world's biggest luxury group LVMH. Alexandre Arnault spearheaded the label's initial reset with an advertising campaign starring Beyonce -- wearing the famous yellow Tiffany diamond -- and Jay-Z. Now the priority will be on renovating the label's retail network, essential for Tiffany to bridge the gap with Cartier, the world's largest jewelry label, which belongs to Richemont(CFR.S), Ledru said. Tiffany sales came to 5.1 billion euros ($5.63 billion) in 2022 and are forecast to reach 7.4 billion in 2025, according to HSBC.

☆ P&G stock gets the respect it deserves after delivering a great quarter and outlook
▼ + stars: | 2023-04-21 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Club holding Procter & Gamble (PG) reported fiscal third-quarter results that were better than expectations before the opening bell Friday. The fact that volumes were only down 3%, despite a 10% price increase, is a testament to Procter & Gamble's strong pricing power. This new target comes as management now expects all-in (non-organic) sales growth to be up 1%, an increase from the down 1% to flat range previously provided. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Organizations: & $

WASHINGTON, April 19 (Reuters) - British pop star Elton John urged U.S. senators on Wednesday not to ease up on the fight against HIV and AIDS, as Congress faces a September deadline for reauthorizing the multi-billion-dollar U.S. program to fight the disease. Congress must reauthorize PEPFAR for another five years before Sept. 30. REUTERS/Anna GordonA set amount has not been set for the reauthorization, but Congress typically has approved $6.5 billion to $6.9 billion for PEPFAR each year. Global AIDS Coordinator John Nkengasong told the committee PEPFAR has saved 25 million lives and created health networks that have helped fight outbreaks of Ebola and the COVID-19 pandemic. "I urge my colleagues to join me in working to reauthorize PEPFAR without delay and without new mandates and directives," said Senator Jim Risch, the panel's top Republican.

☆ Look for these 5 'green flags' before taking a 4-day workweek job, says hiring expert
▼ + stars: | 2023-04-17 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

There's never been a better time to try to find a job with a four-day workweek. It can also be helpful to ask about the skills and experiences help someone thrive while working a shortened week. For example, leaders at four-day workweek companies recently told CNBC Make It they look for candidates with outstanding initiative, autonomy and adaptability. The company sets clear expectations around the fifth day offAsk each person how they use their day off, Salemi says. The company has a strong perspective of what flexibility looks likeA shortened workweek is just one component of workplace flexibility.

☆ Global money market funds see huge demand for a seventh straight week
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

Funds in the global money market drew a net $40.83 billion worth of inflows compared with a net $61.12 billion worth of purchases in the previous week, data from Refinitiv Lipper showed. The yield on the 3-month U.S. Treasury bill , in which money market funds invest the most, surged to near a 16-year high of 5.175% on Thursday. Reuters Graphics Reuters GraphicsGlobal bond funds saw inflows dipping to $3.43 billion in the week from $16.45 billion worth of net buying a week ago. Inflows in government bond funds slipped to a nine-week low of $2.33 billion, while high-yield funds faced outflows of $172 million. Data for 23,942 emerging market funds showed equity funds received a third weekly inflow, worth $227 million, while bond funds had $913 million worth of outflows after two weekly net purchases in a row.

☆ Why Is Chartreuse Hard to Find Right Now? Ask the Monks Who Make It.
▼ + stars: | 2023-04-14 | by ( Becky Cooper | ) www.nytimes.com time to read: +1 min

According to Chartreuse Diffusion, the business arm of the monks’ operation, it took more than 150 years for the Carthusians to “unravel the secret of the manuscript.”Chartreuse became “a mixologist’s ace in the hole,” said Joe Kakos, an owner of Kakos Market, a liquor store in Birmingham, Mich. Many credit Murray Stenson, a bartender at the Zig Zag Café in Seattle, with repopularizing the liqueur in 2003 when he resurrected the century-old Last Word cocktail, a mixture of gin, Chartreuse, lime juice and maraschino liqueur. “I almost feel a little bit guilty,” said Ben Dougherty, the cafe’s owner. In 2020, as the pandemic turned many people into at-home mixologists, sales of Chartreuse in the United States doubled, a pattern that held true worldwide, according to Chartreuse Diffusion. Global sales topped $30 million in 2022.

☆ Everything you need to know as JPMorgan, Citi, Goldman Sachs, and other big banks report earnings
▼ + stars: | 2023-04-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Bank of America and Goldman Sachs come in on Tuesday, with Morgan Stanley bringing up the rear on Wednesday. For a breakdown on the specific numbers, check out Markets Insider and the fantastic 10 Things Before the Opening Bell newsletter. Big banks poured $30 billion into First Republic in the midst of the banking crisis in an effort to shore up the wider market. And what about those pesky shadow banks? Never one to miss a good opportunity, shadow lenders are looking to step up where big banks are stepping back, Bloomberg reported.

☆ US labor market gradually losing steam; producer inflation cooling
▼ + stars: | 2023-04-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Still, the labor market and inflation are likely not cooling fast enough to stop the Federal Reserve from raising interest rates one more time next month. Claims, however, remain below the 270,000 level, a breach of which economists say would signal a deterioration in the labor market. "The upcoming labor market downturn will be modest since the drop in demand is expected to be fairly modest." InflationThe annual PPI rate is subsiding as last year's large increases drop out of the calculation. In the 12 months through March, the core PPI advanced 3.6% after increasing 4.5% in February.

☆ Novavax cut $50 million in costs, plans to slash more, CEO says
▼ + stars: | 2023-04-12 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Novavax Inc (NVAX.O) cut about $50 million in costs in the first quarter of 2023 and plans to slash more, Chief Executive John Jacobs said in an interview on Wednesday. “We’re looking at everything from buildings, leases, land, headcount, and contractors, every aspect of our company and the way we work,” he told Reuters. Jacobs said Novavax would seek funding for its COVID/influenza combination shot, including a potential partnership, depending on whether the upcoming data is positive. The CEO added that the company did not expect to launch its individual flu vaccine this year, and will focus on the COVID vaccine. Global regulators expect vaccination campaigns to be conducted once a year, similar to annual flu inoculations.

☆ Removing shoes, reclining seats? What's deemed ‘unacceptable’ on flights may depend on where you’re from
▼ + stars: | 2023-04-12 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +3 min

Conversely, only 32% of respondents in the UAE considered seat-reclining unacceptable, lower than the global survey average of 53%. Only 19% deemed crying babies to be "unacceptable" and less than one-third were troubled by noisy kids over the age of four. However, there was one issue that bothered UAE respondents more than European travelers. Only 21% labeled crying babies as unacceptable, less than the 25% of men in the survey. What's 'unacceptable' to American flyersAmericans are more likely than the global average to view acts like personal grooming and shoe removal on flights as unacceptable.

LONDON, April 12 (Reuters) - The zinc market was defined by smelter woes last year with global refined metal production dropping by 4.1% relative to 2021, according to the International Lead and Zinc Study Group (ILZSG). But the smelter bottleneck was severe enough to generate a global supply shortfall of more than 300,000 tonnes, according to ILZSG. A sharp rise in the annual benchmark smelter processing fee should incentivise a turnaround in metal production. Annual "benchmark" zinc smelter processing feesOUT-OF-SYNCH SUPPLY CHAINThis year's benchmark treatment charge, the fee a smelter earns for converting mined concentrates into metal, has been set at $274 per tonne, up from $230 in 2022 and $159 in 2021. Global mined and refined zinc production annual changeSMELTER RECOVERY?

The recent selloff of Global Payments shares presents a prime buying opportunity for investors, according to Goldman Sachs. Analyst Will Nance upgraded Global Payment shares to buy. The analyst thinks that recent mergers and acquisitions Global Payments has undertaken should simplify business and put it on track towards "the highest growth vertical." But, Goldman Sachs said investors have become too negative around the share loss narrative for the stock. GPN YTD mountain Global Payments stock —CNBC's Michael Bloom contributed to this report.

NEW DELHI, April 11 (Reuters) - Three public policy executives of the India team of Samsung Electronics (005930.KS) have resigned, sources told Reuters on Tuesday, in simultaneous departures as the country's biggest smartphone player faces several regulatory headaches. Public policy teams have increasingly critical roles in companies efforts to balance regulatory issues as Prime Minister Narendra Modi's government has boosted domestic electronics manufacturing while backing tougher regulations on tech firms. Binu George, who looked at corporate affairs and strategy, Surabhi Pant who worked on policy and public affairs, and Nikhil Kaura from the same team quit last week, two sources said. They were part of a seven-member team headed by Rajiv Aggarwal, a former bureaucrat who, before joining Samsung in December, led public policy at Meta (META.O) and Uber (UBER.N) in India. Samsung racked up sales of $10.3 billion in India in fiscal 2021-22, with smartphones making up $6.7 billion.

☆ Demand for Apple computers has dropped 40% since last year
▼ + stars: | 2023-04-10 | by ( Will Gendron | ) www.businessinsider.com time to read: +2 min

A recent International Data Corporation report outlined global PC shipment data from Q1 of this year. Demand has dropped across the industry, with a 29% decrease compared to last year. Apple, in particular, has suffered from a 40.5% drop off in demand for its computers. Among the five biggest manufacturers, Apple was impacted the most: The number of Apple PCs shipped dropped 40.5% from the first quarter of 2022 to the first quarter of 2023. Global shipments include shipments to end users and distribution channels, like BestBuy and other electronics retailers.

☆ Asia is aging rapidly. Strategists reveal stocks to cash in — including tech
▼ + stars: | 2023-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

He recommended the Global X Aging Population ETF , which includes not just health-care companies and pharmaceutical firms, but also wearables and medical device companies such as Cochlear, GN Store Nord and Teleflex. China's 'very promising bets' Investors can look to focus on China's aging population by market reach or income segment, according to Leverage Shares' Rao. As for investors looking to get exposure to China's wealthier income segment, he named Raffles Medical, Asian Healthcare Specialists and IHH Healthcare — stocks that will also give similar exposure in other Asian countries. Dividend payers and financial services High-dividend-paying stocks as well as financial services are set to benefit from the aging population, according to analysts. Another potential beneficiary of aging populations is financial services, according to Rob Clarry, investment strategist at wealth manager Evelyn Partners.

☆ Bank of America shares 12 charts that show that the economy is about to enter a full-blown recession
▼ + stars: | 2023-04-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

There are growing signs the US economy is about to enter a full-blown recession, said Bank of America. The bank cited worrying signs in manufacturing and the jobs market, and said investors aren't paying attention to the risks. But so far, no recession has materialized as the jobs market and consumer spending have remained fairly resilient. Model is driven by Asian exports, global PMIs, China financial conditions, US yield curve," BofA said. Steepening yield curve often precedes a recessionBank of America"US Treasury 2-year/10-year yield curve flattens and inverts in anticipation of recession.

The Ritz-Carlton Rewards® Credit Card is still available as an upgrade from the Marriott Bonvoy Boundless® Credit Card or Marriott Bonvoy Bold® Credit Card . You can find Priority Pass lounges and restaurants by searching for your airport on the Priority Pass website or through the Priority Pass app. Priority Pass LoungesTypically, airport lounges in the Priority Pass network are off-limits to the general public unless you have access through a membership, airline ticket, elite status, or via a paid day pass. Priority Pass Restaurants, Cafés, Spas, and MoreIn addition to airport lounges, the Priority Pass network includes restaurants and cafés at airports like Houston (IAH) and San Francisco (SFO). Credit Cards With Priority Pass Frequently Asked Questions (FAQ)Is Priority Pass membership automatic when you open an eligible credit card?

☆ NY Fed index shows global supply chain pressures eased further in March
▼ + stars: | 2023-04-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The bank said that as of March, its Global Supply Chain Pressure index moved to a reading of -1.06, versus the revised -0.28 seen in February. "Global supply chain conditions have largely normalized after experiencing temporary setbacks around the turn of the year," the bank said in its report. The index has seen extended periods of below-average supply chain stress and was in negative territory during the summer of 2019, ahead of the onset of the coronavirus pandemic. There was also an extended period of below-normal supply chain stress between roughly 2011 and 2016. But price pressures driven by non-energy service factors stripped of housing are "having the most trouble" abating, Williams said.

☆ I took ThredUp's Fashion Footprint quiz. My annual shopping habits equaled driving 614 miles in a gas-powered car.
▼ + stars: | 2023-04-06 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

ThredUp's Fashion Footprint calculator tallies the climate impact of the clothes we buy. Turns out, the climate impact of my annual shopping habits is still 65% lower than the average customer, at least according to ThredUp's new Fashion Footprint calculator. Resale captured 9% of the US apparel market in 2022, compared with 3% a decade ago, according to ThredUp's latest annual report. Americans spent $1.4 billion on secondhand clothes last year that they normally would have bought new, a 40% jump over 2021. I plugged that into ThredUp's calculator.

Nestle (NESN.S) and Hershey (HSY.N) said they paid the LID premium. But when the COVID pandemic cratered demand, global cocoa prices plunged before they built up a cushion. Ivory Coast and Ghana say companies should pay both premiums. Industry data from the International Cocoa Organisation (ICCO) shows cocoa output in Ivory Coast rose to record levels in the 2020/21 season. Of the roughly 2 million tonnes of cocoa Ivory Coast produces each year, between 20-30% is grown illegally in protected forests by an estimated 1.3 million people, many of them children.

Search resuls for: ". Global"

25 mentions found