DIRS.INFO The most relevant business & tech news

☆ A surplus of fintechs focused on wealth management has financial advisors scrambling to stitch them together
▼ + stars: | 2022-11-11 | by ( Asia Martin | ) www.businessinsider.com time to read: +7 min

RIAs are solving the problem of limited tech integration by creating their own overlay tools. An abundance of wealth management-focused fintechs to choose from combined with a lack of integration between systems has led some advisory firms scrambling to piece them all together. In turn, the company decided to make that a value proposition by taking customers' data and entering it into a database for them. Once those customers created a Redshift data warehouse, they then could connect with Orion's warehouse and pull their data from there. Orion met with AWS' strategic-partnerships team and walked them through their use cases of applying Redshift technology.

☆ How to transform your business's payables and receivables to keep up with customer demand
▼ + stars: | 2022-11-11 | by ( Sponsor Post | Created Citizens With Insider Studios | ) www.businessinsider.com time to read: +7 min

By Matt Richardson, head of treasury product solutions, CitizensFueled by greater connectivity and faster transactions, the digital transformation of the payables and receivables landscape continues to reshape the outlook for treasury management. We've seen many companies embrace faster and easier payments systems. This is set to launch by 2023 and will extend access to real-time payments to more financial institutions and customers nationwide. The dominant force in this area will be cloud-based, intelligent payables and receivables platforms like Citizens' integrated payables solution powered by Paymode-X. Relatedly, payment messaging will be an essential area to keep track of as new digital payment options are becoming increasingly sophisticated and data-intensive.

☆ Oil prices dip on U.S. inventory build, China COVID worries
▼ + stars: | 2022-11-09 | by ( Isabel Kua | ) www.reuters.com time to read: +2 min

Brent crude futures fell 9 cents, or 0.1%, to $95.27 a barrel by 0727 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.2%, to $88.71 a barrel. CMC Markets analyst Tina Teng said despite tight supply in the physical markets, China's slowdown in demand has a major impact on the oil futures markets. In another bearish sign, API data showed gasoline inventories rose by about 2.6 million barrels, against analysts' forecasts for a 1.1 million drawdown. "In addition to ongoing OPEC+ supply cuts, Russian oil supply should fall as the EU ban on Russian crude and refined products comes into effect," ING commodities strategists said in a note. The EU will ban Russian crude imports by Dec. 5 and Russian oil products by Feb. 5, in retaliation to Russia's invasion of Ukraine.

Brent crude futures fell 44 cents, or 0.5%, to $94.92 a barrel by 0454 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 53 cents, or 0.6%, to $88.38 a barrel. CMC Markets analyst Tina Teng said despite tight supply in the physical markets, China's slowdown in demand has a major impact on the oil futures markets. In another bearish sign, API data showed gasoline inventories rose by about 2.6 million barrels, against analysts' forecasts for a 1.1 million drawdown. Meanwhile, supply concerns remain as a European Union ban on Russian crude looms and the Organization of the Petroleum Exporting Countries and allies, or OPEC+, cuts output. The EU will ban Russian crude imports by Dec. 5 and Russian oil products by Feb. 5, in retaliation to Russia's invasion of Ukraine.

☆ Oil steadies after 3% drop on demand fears
▼ + stars: | 2022-11-09 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

MELBOURNE, Nov 9 (Reuters) - Oil prices were mostly unchanged in early trade on Wednesday, after sliding 3% in the previous session on worries about demand stalling on potential new lockdowns in top oil importer China as COVID-19 cases rebound. Brent crude futures rose 2 cents to $95.38 a barrel by 0126 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 4 cents to $88.87 a barrel. U.S. crude oil inventories rose by about 5.6 million barrels for the week ended Nov. 4, according to market sources citing American Petroleum Institute figures. By comparison, seven analysts polled by Reuters estimated on average that crude inventories rose by about 1.4 million barrels. In another bearish sign, API data showed gasoline inventories rose by about 2.6 million barrels, against analysts' forecasts for a 1.1 million drawdown.

☆ Web inventor Tim Berners-Lee wants us to 'ignore' Web3: 'Web3 is not the web at all'
▼ + stars: | 2022-11-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

It involves a few technologies, including blockchain, cryptocurrencies and nonfungible tokens. Personal data stores have to be fast, cheap and private." "Ignore the Web3 stuff, random Web3 that was built on blockchain," he added. Berners-Lee said people too often conflate Web3 with "Web 3.0," his own proposal for reshaping the internet. "The result was a big data race where the winner was the one corporation that controlled the most data and the losers were everybody else," he said.

☆ Shopify's startup investments this year include millions into companies that focus on NFTs, Web3 apps, customer-engagement, and financial services
▼ + stars: | 2022-11-03 | by ( Madeline Stone | ) www.businessinsider.com time to read: +12 min

In its press release announcing the new funding, Wati said the investment was Shopify's first in a startup operating in Southeast Asia. The goal is to make Thirdweb's tools available to Shopify merchants who want to bring Web3 products and experiences to their online stores. Shopify recently participated in Gorgias' $30 million Series C round, which valued the startup at $710 million. According to the company, merchants using its technology report a 96% increase in sales on average. Flexport announced it had received a strategic investment from Shopify as part of its $935 million Series E on February 7.

U.S. West Texas Intermediate (WTI) crude rose $1.60, or 1.85%, to $88.13 after falling 1.6% in the previous session. The OPEC+ cuts and record U.S. oil export data also support oil price fundamentals, said CMC Markets analyst Tina Teng. Tamas Varga of oil broker PVM, meanwhile, said that dwindling oil supply, a possible halt to release of oil from the Strategic Petroleum Reserve (SPR) and reinvigotated oil demand growth could also send crude back above $100 a barrel. OPEC raised its forecasts for world oil demand in the medium and longer term on Monday, saying that $12.1 trillion of investment is needed to meet this demand. In a further cap to price gains, U.S. crude oil stocks are likely to rise in the week to Oct. 28, a preliminary Reuters poll showed.

☆ Oil up more than 1% as weaker dollar offsets China COVID-19 concerns
▼ + stars: | 2022-11-01 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

U.S. West Texas Intermediate (WTI) crude rose $1.38, or 1.6%, to $87.91 a barrel, after falling 1.6% in the previous session. A weaker dollar makes oil cheaper for holders of other currencies and usually reflects greater investor appetite for risk. "OPEC+’s upcoming oil output cuts and the U.S.’s record oil export data also support oil prices fundamentally," Teng said. OPEC raised its forecasts for world oil demand in the medium-and longer-term on Monday, saying that $12.1 trillion of investment is needed to meet this demand despite the transition to renewable energy sources. Keeping a check on oil prices, though, U.S. oil output climbed to nearly 12 million bpd in August, the highest since the start of the COVID-19 pandemic, even as shale companies said they do not expect production to accelerate in coming months.

☆ Biden’s oil windfall tax would backfire, warns Larry Summers
▼ + stars: | 2022-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN Business —Economist Larry Summers is pushing back after President Joe Biden floated the possibility of punishing the oil industry for high prices by imposing a windfall profit tax. “I’m not sure [I] understand the argument for a windfall profits tax on energy companies,” Summers said on Twitter Tuesday morning. Oil companies lost billions of dollars — and many went bankrupt — in 2020 when oil prices briefly crashed below zero for the first time ever during the Covid recession. Not surprisingly, the oil industry itself fired back at talk of a windfall profit tax. Raising taxes on the oil industry would discourage investment in new production, the API warned — “the exact opposite of what is needed.”

☆ Fetterman slams Big Oil for surging profits and failure to invest in new supply
▼ + stars: | 2022-10-27 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Democrat John Fetterman scolded the oil industry on Thursday for reaping massive profits and argued companies are rewarding shareholders instead of aggressively investing in new supply. “Big Oil just made another round of record profits by gouging Americans at the gas pump,” Fetterman, the lieutenant governor of Pennsylvania, said in a statement. The oil industry is a notoriously boom-to-bust business. Gas prices climbed to a record high of $5.07 a gallon in June. Fetterman’s campaign called out his opponent’s ties to the oil industry, pointing to campaign donations from oil and gas companies to Dr. Mehmet Oz’s campaign.

☆ Oil falls on build in U.S. crude oil stocks, stronger dollar
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell in early trade on Wednesday as the dollar firmed and as industry data showing U.S. crude oil stockpiles rose more than expected reinforced fears of a global recession that would cut demand. U.S. crude inventories rose by about 4.5 million barrels in the week ended Oct. 21, according to market sources citing figures from the American Petroleum Institute, an industry group. However, gasoline inventories fell by about 2.3 million barrels, nearly double the decline that analysts had expected. A firmer dollar dampens demand for oil as it makes crude more expensive for those holding other currencies. U.S. President Joe Biden, worried that gasoline prices will jump ahead of Nov. 8 congressional elections, has warned the Saudis would face consequences for aligning with Russia and agreeing to reduce crude supply.

Benchmark Brent crude futures were up 35 cents to $93.61 a barrel by 12:59 p.m. EDT (1659 GMT), while U.S. West Texas Intermediate crude futures rose by 71 cents to $85.29. The U.S. dollar index fell during afternoon trade, making dollar-denominated oil less expensive for other currency holders and helping to push prices higher. Further support came from comments by Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, that energy stocks were being used as a mechanism to manipulate markets. U.S. crude oil inventories are expected to rise this week, which could limit price gains. Analysts polled by Reuters estimated on average that crude inventories rose by 200,000 barrels in the week to Oct. 21.

☆ WhatsApp is down for thousands of users, making it impossible to send and receive messages
▼ + stars: | 2022-10-25 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

WhatsApp went down for thousands of users on Tuesday morning. Users could access the app and their chats, but they weren't able to send or receive messages. The app was still not working an hour after WhatsApp went down. Users appeared to be able to access the app and their chats, but they weren't able to send or receive messages. "We are aware of major disruptions impacting the ability to send messages via the WhatsApp Business Platform.

☆ Europe's neobrokerage startups face winter of cuts and consolidation as trading volumes slump and VC funds dry up, industry sources say
▼ + stars: | 2022-10-24 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Europe's neobrokerage startups face cuts and consolidation as funding dries up, sources say. For startups that can't fundraise it's "shoulders against the wall," one investor told Insider. Europe's brokerage startups are facing a winter of job cuts and consolidation as the sector battles with slumping trade volumes and a scarcity of investor cash, industry sources say. The drop-off has made raising funds a difficult exercise for many fintechs and has also led to a bifurcation in the market of the "haves and the have-nots," one London-based investor told Insider. Market consolidation will be driven by price, one fintech fund partner told Insider.

☆ 10 ‘babies in the bathwater’ to buy from Evercore ISI, down 40% from pandemic highs
▼ + stars: | 2022-10-24 | by ( Patti Domm | In | ) www.cnbc.com time to read: +1 min

Investors will be clearing out their losers as year end approaches, and Evercore ISI says it's time to buy some of these stocks that are being tossed like "babies in the bathwater." "2022 is likely to be a year in which tax loss selling, both at the 10/31 mutual fund year-end and into the 12/31 calendar year end, dominates flows," Evercore ISI strategists write. "As is often the case when hope is all but abandoned, particularly as so many stocks have declined so much from their Pandemic peaks, opportunity awaits." The criteria included stocks in the bottom 50 percentile of the Russell 3000 that were down 24.4% year-to-date and 40.8% from pandemic highs. The companies also have positive earnings growth in the upper 50 percentile for 2022 and 2023, as well as positive 2023 earnings revisions.

☆ Inside Facebook, WhatsApp is now an 'urgent' growth valve with 'superapp' ambitions taking shape
▼ + stars: | 2022-10-20 | by ( Kali Hays | ) www.businessinsider.com time to read: +12 min

This has become something "we have to do," said Matt Idema, vice president of business messaging. Messaging throughout Facebook, led by WhatsApp, generated a relatively paltry $218 million in the most recent quarter. "It's a really big challenge," Matt Idema, promoted last year to vice president of business messaging for Meta, told Insider. Now it's time to bring together WhatsApp, Facebook Messenger, and Instagram Messaging and "treat it like one messaging strategy," Idema said. It held in May its first-ever conference dedicated to its messaging business.

☆ Oil prices rise as investors seek riskier assets and on China demand outlook
▼ + stars: | 2022-10-19 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Oil prices were also buoyed as risk sentiment was lifted by upbeat U.S. corporate earnings and rising equity markets. That is equal to about 104 million barrels. The EU's sanctions on Russian crude and oil products will take effect in December and February, respectively. read moreIn December, the administration plans to sell 15 million barrels of oil from its reserves, the final tranche of the 180 million barrels release announced earlier this year, a senior U.S. official said. Gasoline inventories declined by about 2.2 million barrels while distillate stockpiles dropped by 1.1 million, the sources said.

☆ Oil prices rise on supply woes
▼ + stars: | 2022-10-19 | by ( Isabel Kua | ) www.reuters.com time to read: +4 min

read moreThe OPEC+ production cut, which comes ahead of a European Union embargo on Russian oil, will squeeze supply in an already tight market. The European Union's sanctions on Russian crude and oil products will take effect in December and February, respectively. To plug the gap, the Biden administration is planning to release more oil from the SPR to dampen fuel prices before next month's congressional elections. read moreIn December, the administration plans to sell 15 million barrels of oil from its reserves, the remainder of the 180 million barrels release announced earlier this year, a senior U.S. official said. In Europe, EU's emergency oil stocks, including crude oil and petroleum products, recovered slightly in July after two coordinated releases drained the levels to a record low in June, but were still 3.7% lower than in July 2021, the bloc's statistic office said on Tuesday.

☆ This startup helps Microsoft and P&G make their products more sustainable. Check out the 14-slide pitch deck Makersite used to raise $17.5 million.
▼ + stars: | 2022-10-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A startup that helps companies build more sustainable products just raised $17.5 million. We got an exclusive look at the 14-slide pitch deck it used to raise the Series A round. A German startup that enables companies to assess the sustainability of their products before going to market just landed 18 million euros (around $17.5 million) in its first institutional raise. Makersite uses AI to create software-based replicas of product designs using technology known as digital twins. Check out the 14-slide pitch deck Makersite used to raise the fresh funds below.

☆ Oil prices rise on tight supplies, as IEA warns of global recession
▼ + stars: | 2022-10-13 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

The IEA downgraded its oil demand growth estimates slightly for this year to 1.9 million bpd and by 470,000 bpd in 2023 to 1.7 million bpd. It lowered its 2023 oil demand forecast by 360,000 bpd to 2.34 million bpd. Worsening demand for crude oil is contributing to inventory builds. U.S. crude oil stockpiles rose by about 7.1 million barrels for the week ended Oct. 7, according to market sources citing API data. The energy market is under pressure as well from the U.S. dollar, which has rallied broadly, including against low-yielding currencies like the yen.

Oct 13 (Reuters) - Oil prices struggled to find a footing on Thursday after easing in the previous session on a weakening global demand outlook. "While the OPEC+ production cuts may provide somewhat of a floor for oil prices, upside may seem limited as economic conditions will run the risks of further moderation as a trade-off to further Fed's tightening process," Yeap said. The U.S. Energy Department lowered its expectations for both production and demand in the United States and globally. Worsening demand for crude oil is contributing to inventory builds. U.S. crude oil stockpiles rose by about 7.1 million barrels for the week ended Oct. 7, according to market sources citing API data.

Oct 13 (Reuters) - Oil prices struggled to find their footing in Asian trade on Thursday after easing in the previous session on the back of a weakening global demand outlook. "While the OPEC+ production cuts may provide somewhat of a floor for oil prices, upside may seem limited as economic conditions will run the risks of further moderation as a trade-off to further Fed's tightening process," Yeap added. The U.S. Energy Department lowered its expectations for both production and demand in the United States and globally. Worsening demand for crude oil is contributing to inventory builds. U.S. crude oil stockpiles rose by about 7.1 million barrels for the week ended Oct. 7, according to market sources citing API data.

Oct 13 (Reuters) - Oil prices struggled to find their footing in early Asian trade on Thursday after a weakening global demand outlook depressed the market in the last session. Both OPEC and the U.S. Energy Department cut their demand outlooks. The U.S. Energy Department lowered its expectations for both production and demand in the United States and globally. read moreWorsening demand for crude oil is contributing to inventory builds. The energy market is under pressure as well from the dollar, which has rallied broadly, including against low-yielding currencies like the yen.

☆ Wesley Chan's FPV Ventures coleads $10 million round in Astra, a fintech startup that makes it easier for companies to embed payments technology into their businesses
▼ + stars: | 2022-10-13 | by ( Emilia David | ) www.businessinsider.com time to read: +2 min

The startup raised $10 million in Series A funding led by FPV and Slow Ventures. Astra, a fintech startup that's developed technology to allow developers to embed financial automation into existing products, raised a $10 million Series A along with a $30 million line of credit. "Everything was going really, really fast and really big, so we said, why not ride this growth." For example, B2B payments company Hopscotch recently raised $6.1 million in additional funding in March. Akos said one of Astra's goals is to move upmarket and begin providing payments services to startups in the later stages.

Search resuls for: "Api"

25 mentions found