DIRS.INFO The most relevant business & tech news

☆ STMicroelectronics, GlobalFoundries win EU approval for French chip factory
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of electronics and semiconductors manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris, France, July 12, 2022. REUTERS/Sarah MeyssonnierBRUSSELS, April 28 (Reuters) - Chipmakers STMicroelectronics and GlobalFoundries (GFS.O) secured EU approval on Friday to build a chip factory with French state aid in France. The United States and the European Union are offering billions in state subsidies for home-grown chip factories to cut dependency on Asian suppliers. The EU wants to double its global market share to 20% in 2030 under its Chips Act agreed earlier this month. ($1 = 0.9103 euros)Reporting by Foo Yun Chee, editing by Marine StraussOur Standards: The Thomson Reuters Trust Principles.

☆ Will Levis, widely expected to be picked in first round of 2023 NFL Draft, suffers awkward moments as he isn’t chosen
▼ + stars: | 2023-04-28 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

Those cutaways during the NFL Draft to hopefuls waiting for their names to be picked as other players are chosen ahead of them. Will Levis, the quarterback from Kentucky, was widely projected to be drafted in the first round, if not the top 10 selections. Levis waits in the Green Room with family at the 2023 NFL Draft. Levis waited, waited, waited and waited. But when the final pick was turned in and it Levis’ name wasn’t on that ticket, the waiting game was over.

☆ EU antitrust ruling on UBS' Credit Suisse takeover due by June 7
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: 1 min

PARIS, April 27 (Reuters) - European Union antitrust authorities will decide on UBS' planned takeover of fellow Swiss bank Credit Suisse by June 7, the European Commission said in a statement. The Commission's competition policy website showed that UBS filed for approval on April 26, with a provisional deadline for a decision set for June 7. On March 19, UBS agreed to buy rival Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. read moreReporting by Foo Yun Chee Writing by GV De Clercq Editing by Marine StraussOur Standards: The Thomson Reuters Trust Principles.

☆ Belgium's only cryptocurrency platform suspends activities
▼ + stars: | 2023-04-27 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

BRUSSELS, April 27 (Reuters) - The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court. CoinLoan, a crypto lending company based in the Baltic state, also no longer has the required registration as a custodian of virtual currencies, Bit4You said in a statement on its website. "To date, we have no indication that the virtual currencies held on behalf of our customers with CoinLoan cannot be recovered," Bit4You added. As proportions of Bit4You's customers' investments, CoinLoan holds around 85.66% of Ripple (XRP) coin, around 81.45% of top cryptocurrency bitcoin and 67.32% of Ethereum, according to the statement. The company had limited user withdrawals in July 2022 to $5,000 per 24-hour period to stave off a run on its funds.

PinnedQuarterbacks, top-10 trades and a bull market for running backs headlined the first round of this year’s N.F.L. The Carolina Panthers chose Alabama quarterback Bryce Young at No. After the Texans picked Stroud, they struck again, leaping from pick No. One unexpected development was the move toward running backs, a position that has been devalued in the N.F.L. But teams picked other quarterbacks or filled other needs, this year’s reminder that pre-draft speculation is just that.

NFL Draft coverage will be provided by ESPN, ABC, and NFL Network on TV, and you can also live stream coverage on the free ad-supported NFL Channel. How to watch the NFL Draft in the USYou can watch the NFL Draft on multiple TV channels, including ABC, ESPN, and NFL Network. In addition, the NFL is also providing free streaming coverage of the NFL Draft through the NFL Channel on the NFL app. A VPN will let you watch the NFL Channel's free live stream of the NFL Draft no matter where you are, while also giving you a more secure internet connection. ET NFL Channel, ABC, ESPN, NFL Network2023 NFL Draft first-round orderWhile there are 32 NFL teams, only 31 picks will be made in the first round.

☆ The Boston Symphony Finds Surprises and Strengths in New Music
▼ + stars: | 2023-04-26 | by ( Oussama Zahr | ) www.nytimes.com time to read: +1 min

When orchestras come to Carnegie Hall, their programs typically tell you two things: who they are and what they can do. Or when the Berlin Philharmonic and Kirill Petrenko opened up the complex worlds of Mahler’s Seventh with coordinated virtuosity. And over two nights at Carnegie this week, the Boston Symphony Orchestra and its music director, Andris Nelsons, told their story gradually, one piece at a time, in canonical works by Ravel, Rachmaninoff, Sibelius and Mozart. Among American orchestras, the Boston Symphony’s sound is enviably rich. That opulence was readily apparent in the ceaseless flow of cantabile melodies in Rachmaninoff’s Second Symphony.

☆ Climate-Disclosure Rules Are Coming. Here’s How Companies Are Adapting.
▼ + stars: | 2023-04-25 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

International jurisdictions and the U.S. Securities and Exchange Commission are expected to finalize rules by this summer that will require public companies to report their greenhouse-gas emissions. Direct suppliers are known as tier 1 with that number increasing the deeper you go down the supply chain. Partnerships with suppliers: Large companies are working with small suppliers to overcome hurdles to accessing renewable power supplies, a relatively straightforward way to cut emissions. In October, it said its first group was five companies, including Amy’s Kitchen Inc., Levi Strauss & Co. and J.M. Targets for lower-emission alternatives: Nestlé SA is paying a premium to farmers in its supply chain that cut emissions by following regenerative farming practices.

☆ EU leaders will discuss China relation during June summit
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, April 24 (Reuters) - EU leaders will discuss the bloc's stance towards China and its future relations with the country during their next summit in June, EU Council President Charles Michel said on Monday. "EU-China policy will be on the agenda of our European council in June," Michel said in a post on Twitter. "Foreign affairs ministers will prepare this discussion under the leadership of the High representative Josep Borrell." EU foreign affairs ministers, speaking before a joint meeting on Monday, expressed their dismay over recent remarks by China's ambassador to France, who questioned the sovereignty of former Soviet states such as Ukraine. Reporting by Bart Meijer and Marine Strauss; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Belgian town organises seagull imitation championship
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +1 min

DE PANNE, BELGIUM, April 23 (Reuters) - The Belgian coastal town of De Panne organised on Sunday the third European seagull screeching championship, where a jury crowned the best imitation of the bird's distinctive shriek. Around 50 participants took part in the contest including first-timers and returning participants. Participating for the first time, Yarmo, a 21-year old architecture student from Eindhoven, in the Netherlands, won the crown for the best seagull sound. Seagulls are often despised by the public because of their intrusive behaviour and the contest also aims at changing their image. Reporting by Farah Salhi; Writing by Marine Strauss; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Levi Strauss CFO on Navigating Excess Inventory, His Expanded Role and Slower Hiring
▼ + stars: | 2023-04-22 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

High inventory levels have prompted Levi Strauss to discount certain products. Photo: Justin Sullivan/Getty ImagesLevi Strauss & Co. has kicked off a U.S. rollout of a system aimed at gaining better visibility into where its inventory is located and how well its branded stores are stocked, as the jeans maker continues to navigate excess supply and weaker spending from cost-conscious customers. The San Francisco-based company last week launched its new enterprise-resource-planning, or ERP, system in the U.S. after using it in Mexico and Canada, taking another step toward expanding its direct-to-consumer operation. At Levi Strauss, direct-to-consumer involves selling apparel through channels including the company’s roughly 240 U.S. stores under the Levi’s, Dockers and Beyond Yoga brands; its own e-commerce sites; and select “shop-in-shops” inside department stores.

☆ Luxury stocks are on a tear and now there's an index to follow the 1%
▼ + stars: | 2023-04-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Luxury stocks are on a tear, and they are pulling away from the other 99% of the world. Birinyi Associates sees an opportunity. LVMH is the largest luxury firm in the world. Rubin and Birinyi have created two new indexes to monitor all this money: the "1% Index" that consists of 16 luxury stocks, and the "99% Index" made up of 18 stocks that is, well, where the rest of us shops. Since the beginning of April, the 99% is making a comeback: The 1% vs. the 99% (since April 1) 1% index: + 3% 99% index: + 12% Source: Birinyi Associates What's happening?

☆ The End of Netflix's DVD Service: a Look Back at the Red-Envelope Era
▼ + stars: | 2023-04-19 | by ( Todd Olmstead | Dave Cole | ) www.wsj.com time to read: 1 min

Mailed DVDs “paved the way for the shift to streaming,” Netflix co-CEO Ted Sarandos said in a blog post announcing the end of the DVD service, citing the range of titles offered and the ability to binge watch. The company reported $145.7 million in revenue from DVDs in 2022, down 20% from the year before. Jordan Strauss/Invision/Associated Press

☆ Upfront's Mark Suster has become the star of LA's booming startup scene. Not everyone is a fan.
▼ + stars: | 2023-04-18 | by ( Ben Bergman | ) www.businessinsider.com time to read: +29 min

"I have worked with more than 50 VCs and nobody comes close to what it is like to work with Mark Suster," said a founder backed by Suster. "Mark and the Upfront Summit helped put LA tech and investing on the map," said Jeffrey Katzenberg, the cofounder of DreamWorks and WndrCo. Several years ago, a founder whose startup Suster invested in was in a conference room rehearsing their presentation for the Upfront Summit. If you're going to put him on your board, you're letting the fox guard the henhouse. "If you're going to put him on your board, you're letting the fox guard the henhouse."

☆ Jim Cramer's top 10 things to watch in the stock market Monday
▼ + stars: | 2023-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Pioneer Natural Resources (PXD) is the biggest independent oil exploration and production (E & P) play. Club holding Constellation Brands (STZ) reported an excellent quarter last week and gave you an 11% dividend increase. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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.

☆ Stocks making the biggest moves midday: Costco, Bed Bath & Beyond, AMC, FedEx and more
▼ + stars: | 2023-04-06 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Costco — The wholesale retailer's shares dropped 2% after the company announced sales dipped 1.1% year over year in March. Bed Bath & Beyond — The stock tumbled 7% after the retailer proposed a stock split as it attempts to avoid bankruptcy. Analysts covering the stock welcomed the news, with Raymond James upgrading shares to outperform from market perform Thursday morning. Leslie's , Pool — Shares of pool company Leslie's popped 5.4%, while Pool gained 1%, after both names were upgraded by Loop Capital to buy from hold. Craig-Hallum downgraded the stock to hold from buy and Rosenblatt pulled its rating to neutral from buy following the guidance cut.

☆ Stocks making the biggest moves premarket: Costco Wholesale, Richardson Electronics, FedEx and more
▼ + stars: | 2023-04-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Richardson Electronics – Shares rose about 0.7% after Richardson Electronics reported a smaller backlog in its third fiscal quarter than it did in the same quarter a year prior. Comparable sales growth was positive when excluded changes in gasoline prices and the impact of foreign exchange, however, with the fastest growth coming outside the United States. Net sales rose 0.5%. Pinterest – Shares rose 1.2% after Raymond James said it initiated coverage of Pinterest with an outperform rating. The firm said it expects steady user growth, as well as "double-digit long-term revenue growth" from product improvements.

☆ The hat: Mathematicians invent 'einstein' tile that never repeats
▼ + stars: | 2023-04-06 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +7 min

Called “The hat” because it vaguely resembles a fedora, the elusive shape is an “einstein” (from the German “ein stein,” or “one stone”). “I’m not really into math, to be honest — I did it at school, but I didn’t excel in it,” Smith said. “The hat,” however, is an aperiodic tile, meaning it can still completely cover a surface without any gaps, but you can never identify any cluster that periodically repeats itself to do so. How ‘The hat’ worksThere’s nothing inherently magical about “The hat,” according to Kaplan. “We’re not trying to protect it in any way,” Kaplan said.

☆ Levi Strauss tops quarterly revenue estimates, but higher costs hit margins
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

April 6 (Reuters) - Levi Strauss & Co (LEVI.N) on Thursday topped Wall Street estimates for quarterly revenue on resilient demand for jeans and non-denim styles, but maintained its annual forecast as the company turns cautious due to macroeconomic uncertainties. Shares of the San Francisco-based apparel maker fell more than 4% in premarket trade, as it also took a hit on margins in the quarter, owing to persistent cost pressures. The jeans maker's attempts to get rid of excessive inventory by offering higher discounts and promotions squeezed its profit margins. UBS analysts have noted that Levi's promotions were up 1,500 basis points in December. On an adjusted basis, Levi's earned 34 cents per share, beating estimates of 32 cents per share.

☆ Hot off an up quarter for stocks, investors turn to jobs, manufacturing data
▼ + stars: | 2023-04-01 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Another busy week of macroeconomic data will kick of the new quarter, following a volatile first quarter for stocks that ultimately finished in the black. The market's second quarter kicks off Monday with the ISM manufacturing report, followed on Tuesday by data on factory orders. We're looking for a Goldilocks report: not so hot to stoke more inflation fears, but not so cold to intensify worries about a recession. Wednesday's ADP employment report is also important, given the Fed's goal of slowing the job market to bring down inflation. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Veal calves should not be isolated in pens after birth, EU says
▼ + stars: | 2023-03-29 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

BRUSSELS, March 29 (Reuters) - Veal calves should not be kept in individual pens during their first weeks of life in order to improve animal welfare, according to the EU Food and Safety Authority (EFSA). A newborn calf is usually removed from his mother immediately or a few hours after birth. Every year more than 300 million farmed animals spend all or part of their lives in cages, pens or stalls, according to advocacy group Compassion in World Farming. "Separating the cow and her calf and confining the newborn in an individual pen causes great and prolonged distress to both," Compassion in World Farming said in a statement. Current EU law allows for calves to be removed soon after birth to be shut into an individual pen for up to 8 weeks.

Some companies have expressed concern that a ruling against Jack Daniel's would weaken their control over their brands and reputations. The toy mimics Lynchburg, Tennessee-based Jack Daniel's famous whiskey bottles with humorous dog-themed alterations - replacing "Old No. "Jack Daniel's loves dogs and appreciates a good joke as much as anyone," the company told the justices in a brief. "But Jack Daniel's likes its customers even more, and doesn't want them confused or associating its fine whiskey with dog poop." VIP Products has said a ruling favoring Jack Daniel's would make it easier for trademark owners to stifle free speech.

☆ Belgium to become second EU country to recognize Buddhism
▼ + stars: | 2023-03-17 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

BRUSSELS, March 17 (Reuters) - Belgium is expected to officially recognize Buddhism after the federal government approves a draft law on Friday, opening the door to federal funding, official delegates and school classes. The Belgian Buddhist Union had requested recognition in March 2006. The only other EU country where Buddhism is recognized is Austria. There are currently six worship services officially recognized in Belgium: the Roman Catholic, the Orthodox, the Israelite, the Anglican, the Protestant Evangelical and the Islamic, recognized in 1974. All Belgian provinces and the Brussels Region would then also have to each finance a local Buddhist centre.

☆ This Isn't What Millennial Middle Age Was Supposed to Look Like - The New York Times
▼ + stars: | 2023-03-14 | by ( Jessica Grose | ) www.nytimes.com time to read: +25 min

Things have been difficult for her family, she says, but one thing she isn’t worried about: a midlife crisis, looming just over the horizon. One of our questions was about whether they had experienced a midlife crisis and how they would define the term. Many people said they felt they couldn’t be having a midlife crisis, because there was no bourgeois numbness to rebel against. “Who has midlife crisis money?”The traditional midlife crisis, as presented in popular culture, at least, unfolds amid suburban ennui. We just increase our Lexapro.”Was the midlife crisis ever even real?

☆ How shadow bankers are already emerging as winners in the SVB collapse
▼ + stars: | 2023-03-14 | by ( Rebecca Ungarino | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

But the momentum already behind the secretive private credit space has picked up — fast. He was witnessing a new willingness from borrowers to turn first to private credit, a market that has grown yet generally remains more opaque than its public-market counterparts. "Borrowers used to look at these banks and say, 'Look, the banks, they've been around forever. The private lenders say that privacy is all part of the pitch. Money managers smell opportunityThe momentum already behind the secretive private credit space has gained steam as the SVB collapse pushes companies to consider alternate sources of debt and, on the other side, private credit managers seek out new targets.

Search resuls for: "Levis Strauss

25 mentions found