DIRS.INFO The most relevant business & tech news

☆ Our two financials differ from failed Silicon Valley Bank. But we're not buying the dips yet
▼ + stars: | 2023-03-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

The failure of Silicon Valley Bank is raising questions about the overall financial sector, which includes Club holdings Wells Fargo (WFC) and Morgan Stanley (MS). For now, we're waiting for the market to realize that Wells Fargo and Morgan Stanley are different. However, Wells Fargo turned positive by day's end, gaining more than half of a percent. In this environment, startups were using up a lot of money that had been deposited in SVB bank accounts to run their businesses. People walk past a Wells Fargo bank on 14th Street on December 20, 2022 in New York City.

☆ California flood watch issued as next atmospheric river looms
▼ + stars: | 2023-03-09 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

LOS ANGELES, March 9 (Reuters) - Flood watch notices were posted across northern and central California for Thursday ahead of an atmospheric river storm expected to douse much of the state with heavy rain, including mountain areas still buried from a near-record snowfall. But smaller, waterfront communities along several major rivers and their tributaries also braced for the possibility of overflowing streams swollen by heavy showers and runoff of melting snow. Elsewhere, the NWS issued "prepare now" alerts for residents along the Big Sur, Carmel, Salinas and Pajaro rivers. "It's really a combination of all this heavy rainfall coming and also rapidly melting snow." The looming deluge follows a three-week barrage of nine atmospheric river storms that struck California in late December through mid-January, triggering widespread flooding as well as hundreds of mudslides, rockfalls and sinkholes across the state.

☆ 'We need to get Monday back' and get people in the office earlier in the week, says the CEO of the world's largest insurance marketplace
▼ + stars: | 2023-03-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Lloyd's of London CEO says people are mostly going back to the office Tuesday to Thursday, per FT."We need to get Monday back," CEO John Neal told the Financial Times. Many corporate leaders are trying to get employees back to the office after three years of pandemic-induced remote work. "Tuesdays, Wednesdays, and Thursdays are busy," John Neal, CEO of the world's largest insurance marketplace Lloyd's of London, told the Financial Times in an interview published Wednesday. Other high-profile executives who want their employees back in the office include Citadel CEO Ken Griffin, Morgan Stanley CEO James Gorman, Starbucks CEO Howard Schultz, and Tesla CEO Elon Musk. While Lloyd's Neal may have been referring to employees in the UK, the experience across the Atlantic is similar.

☆ AI might revolutionize how we borrow money. But is that a good thing?
▼ + stars: | 2023-03-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

But a recent report by Credit Suisse on the use cases for both ChatGPT and AI in finance caught my eye. AI models are only as good as the data they receive, which leaves them susceptible to bias, just like humans. A top-performing hedge fund is looking to team up with one of the hottest tech tools. Izzy Englander's Millennium Management told clients that it'll expect to get paid regardless of whether the hedge fund actually makes money for its investors, according to Bloomberg. The billionaire hedge fund manager believes all signs are pointing towards a recession.

☆ Oklahoma measure to legalize recreational marijuana headed for defeat
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

March 7 (Reuters) - A ballot measure to legalize recreational use of marijuana for adults in Oklahoma and establish an excise tax on cannabis sales in the state appeared headed for a resounding defeat at the polls on Tuesday, according to state election returns. The vote came nearly five years after Oklahoma voters approved legalizing cannabis for medical purposes. It also would have placed a 15% tax on sales of all recreational marijuana products, with revenues divvied up between municipalities and the state's general fund, public education grants and substance abuse programs. The existing state medical marijuana authority would have been tasked with regulating and licensing commercial cannabis businesses. In addition, individuals already convicted of low-level marijuana offenses that the measure proposed to make legal could have sought re-sentencing or have their records expunged.

☆ Inside the germy, sneeze-filled meeting between Morgan Stanley's CEO and the Saudi crown prince at the onset of COVID-19
▼ + stars: | 2023-03-08 | by ( Liz Hoffman | ) www.businessinsider.com time to read: +8 min

James Gorman, CEO of Morgan Stanley, met with the Saudi crown prince at the onset of the pandemic. The young royal kept sneezing during the meeting — and Gorman's fear of a deadly pathogen began to grow. He was in the royal palace in Riyadh, Saudi Arabia, seated to the right of the country's crown prince, Mohammed bin Salman. Given their recent experience with a deadly virus, Gorman took the caution of his Kuwaiti hosts as a sign that the West was underestimating the dangers of this one. And now, as Gorman chatted with the controversial 34-year-old crown prince about ways Saudi Arabia could diversify its economy and reduce its reliance on oil, the young royal kept sneezing.

☆ Actor Tom Sizemore, known for tough-guy roles and scandal, dead at 61
▼ + stars: | 2023-03-04 | by ( Steve Gorman | ) www.reuters.com time to read: +5 min

March 3 (Reuters) - Actor Tom Sizemore, known as much for his struggles with drug addiction and run-ins with the law as for his tough-guy roles in such films as "Saving Private Ryan" and "Black Hawk Down," died on Friday at age 61, said his manager, Charles Lago. Sizemore's first major leading role came in the 1997 horror thriller "The Relic," again playing a police detective. On television, Sizemore won plaudits for his starring role as a police detective in the short-lived CBS television drama "Robbery Homicide Division." He was arrested again on suspicion of domestic abuse in 2016 and the following year pleaded no contest, the legal equivalent of guilty in California, and was sentenced to three year's probation. Sizemore chronicled his turbulent life in the 2013 memoir, "By Some Miracle I Made It Out of There."

March 3 (Reuters) - A Michigan judge on Friday dismissed a school district and its employees as defendants in two wrongful death lawsuits stemming from a deadly 2021 mass shooting by a 15-year-old student armed with a gun his parents had bought him for Christmas. Remaining as defendants in the civil lawsuits are the gunman, Ethan Crumbley, who has since pleaded guilty to murder charges, and his parents, James and Jennifer Crumbley, who have been charged with involuntary manslaughter in the shooting. Instead, he was returned to class, and emerged from a bathroom a short time later to go on his rampage. School districts cannot be sued over "the exercise or discharge of a governmental function," and none of the exceptions recognized under statutes or case law apply, the judge wrote. Ultimately, however, "Ethan Crumbley's act of firing the gun, rather than the alleged conduct of the individual Oxford defendants" was the proximate cause of injuries, the judge held.

☆ SpaceX capsule delivers latest four-member crew to International Space Station
▼ + stars: | 2023-03-03 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

March 3 (Reuters) - A SpaceX Crew Dragon capsule arrived safely at the International Space Station (ISS) after a brief delay early on Friday, carrying two U.S. astronauts, a Russian cosmonaut and a United Arab Emirates astronaut on a six-month science mission. The autonomously flying spacecraft dubbed Endeavour docked with the space station shortly after 1:40 a.m. EST (0640 GMT) on Friday, about 25 hours after launching from NASA's Kennedy Space Center in Cape Canaveral, Florida. Docking maneuvers fell behind schedule as the Crew Dragon was making its final approach to the station. The ISS crew also is responsible for performing maintenance and repairs aboard the station, and to prepare for the arrival and departure of other astronauts and cargo payloads. Rounding out the four-man Crew 6 was Russian cosmonaut Andrey Fedyaev, 42, who like Alneyadi is an engineer and spaceflight rookie.

[1/5] NASA's SpaceX Crew-6 mission, that includes NASA astronauts Stephen Bowen and Woody Hoburg, the United Arab Emirates Sultan Al-Neyadi and Russian cosmonaut Andrey Fedyaev, launches to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2023. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule called Endeavour, lifted off at 12:34 a.m. EST (0534 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. Fellow NASA astronaut Warren "Woody" Hoburg, 37, an engineer and commercial aviator designated as the Crew 6 pilot, was making his first spaceflight. The Crew 6 team will be welcomed aboard the space station by seven current ISS occupants - three U.S. NASA crew members, including commander Nicole Aunapu Mann, the first Native American woman to fly to space, along with three Russians and a Japanese astronaut. An empty replacement Soyuz to bring them home arrived at the space station on Saturday.

☆ Here’s our Annual Meeting update on the 7 health care and bank stocks in the Club portfolio
▼ + stars: | 2023-03-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Here's an update on the health care and financial holdings in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. At levels below $250 per share, Jim said Danaher is one of the most attractive stocks in the Club's portfolio. Its consumer-products unit will become a company known as Kenvue, while its faster-growing pharmaceutical and medical devices divisions will retain the J & J name. However, there is some litigation risk with J & J after a federal judge in January rejected its strategy concerning more than 38,000 talc lawsuits. Against that backdrop, we view J & J as a quality defensive name to own, especially given its annual dividend yield of around 3%.

[1/2] A Falcon 9 rocket is readied for another launch attempt for NASA's SpaceX Crew-6 mission after a technical delay, which will take four crew members to the International Space Station, from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 1, 2023. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule called Endeavour, was set for liftoff at 12:34 a.m. EST (0534 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. The four-man crew should reach the International Space Station (ISS), orbiting some 250 miles (420 km) above Earth, about 25 hours after launch, early on Friday morning. Crew 6 also is notable for its inclusion of UAE astronaut Sultan Alneyadi, 41, only the second person from his country to fly to space and the first to launch from U.S. soil as part of a long-duration space station team. The Crew 6 team will be welcomed aboard the space station by seven current ISS occupants - three U.S. NASA crew members, including commander Nicole Aunapu Mann, the first Native American woman to fly to space, along with three Russians and a Japanese astronaut.

[1/3] A Falcon 9 rocket is readied before launch on NASA's SpaceX Crew-6 mission, which will take four crew members to the International Space Station, from the Kennedy Space Center in Cape Canaveral, Florida, U.S., February 26, 2023. The SpaceX Falcon 9 rocket topped with a Crew Dragon capsule had been scheduled for liftoff at 1:45 a.m. EST (0645 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. Neither NASA nor SpaceX immediately said how long it might actually take before they would be ready to try again. Had Monday's launch been a success, it was expected to take the crew about 25 hours to reach their destination at the International Space Station (ISS), a laboratory orbiting about 250 miles (420 km) above Earth. Reporting by Joe Skipper in Cape Canaveral and Steve Gorman in Los Angeles; Editing by Will Dunham, John Stonestreet and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Prosecutors presented sufficient evidence to proceed with their case against Anderson Lee Aldrich on all charges filed in the Nov. 19 shooting rampage at Club Q club in Colorado Springs, the El Paso County district judge ruled. Besides multiple counts of first-degree murder, Aldrich faces dozens of counts of attempted murder and assault, as well as hate-crimes charges alleging the attack was motivated by prejudice against victims' sexual or gender identities. Thursday's ruling capped a two-day preliminary hearing in which prosecutors outlined their case for trying Aldrich on all charges. A hand-sketched map of Club Q was also found in a search of the defendant's home, Gasper said. Two patrons with military training subdued Aldrich and held the suspect until police arrived, according to the arrest warrant affidavit.

☆ Florida TV journalist fatally shot while reporting on a murder scene -police
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - A gunman opened fire on two television journalists reporting on a murder scene near Orlando, Florida, on Wednesday, killing one and injuring the other, authorities said. The two journalists shot in Pine Hills, a suburb of Orlando, were a reporter and a photographer for central Florida cable TV outlet Spectrum News 13, which is owned by Charter Communications (CHTR.O), Mina said. The suspect, who has a lengthy arrest record, already has been charged with killing the woman in her 20s, who was shot in a vehicle hours earlier, Mina said. Mina said no motive had been determined for any of the shootings, but he said Moses was believed to be an acquaintance of the first victim. Reporting by Steve Gorman and Costas Pitas in Los Angeles; Editing by Eric Beech and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Ex-producer Harvey Weinstein faces sentencing for Los Angeles rape conviction
▼ + stars: | 2023-02-23 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

LOS ANGELES, Feb 23 (Reuters) - Harvey Weinstein, the onetime Hollywood titan who came to epitomize a culture of pervasive sexual misconduct by powerful men that ignited the #MeToo movement, is to be sentenced on Thursday for the 2013 rape of an actress in Los Angeles. Whatever sentence is pronounced should be served once the former movie producer and Miramax co-founder has completed the 23-year sentence imposed for a sexual misconduct conviction in New York, prosecutors argued in their sentencing memorandum. Los Angeles Superior Court Judge Lisa Lench declared a mistrial on the deadlocked charges. The producer of "Pulp Fiction" and "Shakespeare in Love" was convicted of sexual misconduct in New York in February 2020, and extradited from New York to a Los Angeles prison in July 2021. In New York, Weinstein is appealing his conviction and prison sentence.

☆ Citigroup lifts CEO Fraser's 2022 pay to $24.5 mln
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Citigroup (C.N) increased Chief Executive Officer Jane Fraser's compensation by nearly 9% to $24.5 million for 2022, the lender said in a filing on Tuesday. Fraser's total pay in 2021 was $22.5 million. She took over as the first female chief executive of a major Wall Street bank in February 2021. Her pay is still below the $34.5 million of JPMorgan & Chase Co's JPM.N CEO Jamie Dimon, and Morgan Stanley (MS.N) CEO James Gorman's $31.5 million. Citigroup reported a 21% fall in fourth-quarter profit last month, missing forecasts, as the bank increased provisions to prepare for a worsening economy and as investment banking revenue declined due to a sharp drop in dealmaking activity.

☆ Accused Colorado LGBTQ club shooter back in court for preliminary hearing
▼ + stars: | 2023-02-22 | by ( Keith Coffman | ) www.reuters.com time to read: +3 min

One of the men pistol-whipped Aldrich as others pummeled the accused assailant, leaving the suspect with multiple injuries that required hospitalization. Aldrich's lawyers have asserted in court filings that their client identifies as "non-binary" in gender and prefers them/they pronouns. At a previous court hearing, a defense lawyer intimated that Aldrich may have been in the club previously, including on the night of the massacre. El Paso County District Judge Michael McHenry was assigned to preside over the preliminary hearing, which was scheduled to run for three days, according to the court docket. The Q nightclub shooting is not the defendant's first brush with the law.

☆ California farm worker pleads not guilty to 7 murder counts
▼ + stars: | 2023-02-16 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

The next hearing in the case was set for May 3, the district attorney, Steve Wagstaffe, confirmed to Reuters. Zhao is charged with seven counts of premeditated murder and a single count of attempted murder in a criminal complaint that also cites "special circumstance" allegations accusing him of "personally and intentionally" shooting to kill. read moreUnder California law, defendants convicted of murder with "special circumstances" are eligible for the death penalty, though Governor Gavin Newsom in 2019 declared a moratorium on executions. Authorities said the Monterey Park assailant, Huu Can Tran, 72, shot himself to death the next day as police closed to make an arrest. Reporting by Steve Gorman in Los Angeles Editing by Alistair Bell and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Hollywood actress Raquel Welch dead at age 82
▼ + stars: | 2023-02-15 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

LOS ANGELES, Feb 15 (Reuters) - Actress Raquel Welch, who helped redefine the traditional image of the Hollywood sex symbol with her portrayals of strong women in dozens of movies in the 1960s and '70s, died on Wednesday at age 82. Her death following a brief illness was confirmed in a statement released by Jane McKnight, her Los Angeles-based manager. She won a Golden Globe Award for best actress in a musical or comedy for her performance in the 1973 swashbuckling romp "The Three Musketeers." [1/3] Actress Raquel Welch poses at the 2014 Carousel of Hope Ball at the Beverly Hilton Hotel in Beverly Hills, California October 11, 2014. REUTERS/Mario Anzuoni/File Photo 1 2 3Her portrayal of strong, willful women was credited with reshaping stereotypes.

☆ Arizona truck spill of toxic acid closes interstate highway
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 14 (Reuters) - A tanker truck hauling nitric acid overturned on an interstate highway near Tucson, Arizona, on Tuesday, causing a leak of its highly toxic, volatile cargo in a fiery wreck that shut down the road for hours, authorities said. The Arizona Department of Public Safety urged residents nearby to remain inside and said first responders were working to evacuate a perimeter around the incident "out of an abundance of caution." It said state police anticipated an "extensive" closing of Interstate Highway 10 after the "injury collision," which disrupted the major east-west traffic artery and truck route that crosses much of the U.S. Southwest. The Tucson Fire Department said it was helping "control the hazmat and brush fire incidents" at the crash site. The extent of injuries and whether other vehicles were involved were not explained, nor was the accident's cause or scope of the spill.

☆ KeyCorp CEO on inflation, the consumer and the Fed's next move
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKeyCorp CEO on inflation, the consumer and the Fed's next moveChris Gorman, Keycorp CEO, joins 'Closing Bell' to discuss company outlook and the consumer buying power in 2023.

[1/4] Emergency personnel respond to a shooting at Michigan State University in East Lansing, Michigan, U.S., February 13, 2023. Few official details about the gun violence were immediately available, but Chris Rozman, interim deputy chief of the university police, said shots were fired in two locations - at an academic building called Berkey Hall and the Michigan State University (MSU) Union building. He also said the university was not aware of any threats made to the campus before Monday's bloodshed. Four classmates were killed and six students and a teacher were wounded in that attack, the deadliest U.S. school shooting that year. Governor Gretchen Whitmer said on Twitter that she was being briefed on the East Lansing shooting.

The Detroit News reported one confirmed fatality on campus, inside Berkey Hall, citing Michigan State University (MSU) spokesperson Emily Guerrant, but Reuters could not independently verify that information. "There are multiple reported injuries," MSU said on its official police and public safety Twitter feed. Several campus building had been cleared and secured nearly two hours after the gunfire was first reported on campus, MSU police said. MSU is a major public institution of higher education whose flagship East Lansing campus accounts for 50,000 graduate and undergraduate students. Governor Gretchen Whitmer said on Twitter that she was being briefed on the East Lansing shooting.

WASHINGTON, Feb 12 (Reuters) - The U.S. Air Force general overseeing North American airspace said on Sunday after a series of shoot-downs of unidentified objects that he would not rule out aliens or any other explanation yet, deferring to U.S. intelligence experts. It was the third unidentified flying object to be knocked out of the sky by U.S. warplanes since Friday, following the Feb. 4 downing of a suspected Chinese weather balloon that put North American air defenses on high alert. "We're calling them objects, not balloons, for a reason, said VanHerck, who is head of the joint U.S.-Canadian North American Aerospace Defense Command (NORAD) and the U.S. Air Force Northern Command. However, the government's effort to investigate anomalous, unidentified objects — whether they are in space, the skies or even underwater — has led to hundreds of reports that are being investigated, senior military leaders have said. But so far, the Pentagon has not found evidence to indicate Earthly visits from intelligent alien life, those officials have said.

Search resuls for: "" Gorman"

25 mentions found