DIRS.INFO The most relevant business & tech news

☆ US labor market still tight as job openings rise, layoffs fall
▼ + stars: | 2023-05-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Wednesday also showed layoffs declining significantly last month. There were 1.8 job openings for every unemployed person in April, up from 1.7 in March. Data for March was revised higher to show 9.75 million job openings instead of the previously reported 9.59 million. There were 185,000 more job openings in healthcare and social assistance, while vacancies jumped by 154,000 in the transportation, warehousing, and utilities. But Walker also acknowledged that some of the alternative measures of job openings could be downwardly biased, as their sample could be skewed toward companies which are more likely to have an online presence and have cut job openings sharply.

Persons: Priscilla Thiagamoorthy, Goldman Sachs, Ronnie Walker, Walker, JOLTS, Julia Pollak, Lucia Mutikani, Paul Simao, Andrea Ricci Organizations: Federal Reserve, Labor, Survey, Labor Department, Fed, BMO Capital Markets, Reuters, Treasury, ZipRecruiter, Thomson Locations: WASHINGTON, U.S, Toronto

☆ US consumer confidence dips to six-month low, labor market views soften
▼ + stars: | 2023-05-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index slipped to 102.3 this month, the lowest level since last November, from an upwardly revised 103.7 in April. The cutoff date for the survey, which places more emphasis on the labor market, was May 22. The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, fell to 31.0, the lowest since April 2021, from 36.9 in April, suggesting the labor market was loosening up. More timely data like first-time applications for state unemployment benefits suggests the labor market remains tight, but is gradually easing. "Investors should expect Friday's job report to reveal emerging cracks in the labor market."

Persons: Christopher Rupkey, Joe Biden, Kevin McCarthy, Jeffrey Roach, Nicole Bachaud, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Labor, Conference, Social Security, Medicare, Reuters, University of, Republican U.S . House, Sunday, U.S . Labor Department, LPL, Treasury, Federal Reserve, National Association of Realtors, Federal Housing Finance Agency, Thomson Locations: WASHINGTON, New York, North Carolina, U.S, Seattle

☆ Wall Street Journal insiders are bracing for more changes under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. People expect Tucker to overhaul the cumbersome front-page editing process for top enterprise stories and deemphasize commodity news in favor of more investigative pieces, with specifics to come as early as June. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Strong US consumer spending, inflation readings put Fed in tough spot
▼ + stars: | 2023-05-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Consumer spending jumped 0.8% last month after gaining 0.1% in March. Economists polled by Reuters had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, would rise 0.4%. Adjusting for inflation, consumer spending shot up 0.5% after being unchanged in March. Consumer spending is being supported by strong wage gains in a tight labor market. The current pace of consumer spending is, however, unlikely to be sustained as Americans grow weary of inflation.

☆ Newsroom insiders are bracing for changes at The Wall Street Journal under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. One audio staffer was laid off last week, in keeping with Journal practice to quietly shed people in small numbers. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Warner Bros. Discovery's new streamer Max is here. Meet the 9 top execs driving content chief Casey Bloys' strategy to compete with Netflix and Disney.
▼ + stars: | 2023-05-23 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery driving content at HBO and new streamer Max. WBD has one of TV's most respected executives working to ensure Max's success: Casey Bloys, who's been with HBO since 2004, is chairman and CEO of HBO and Max content. It'll take time for Max to build up the brand equity HBO Max has. As for existing subscribers, most HBO Max users may seamlessly transition to Max and see no change in price. But Discovery+ users will have to fork over twice the $5 per month that they were previously paying to get the cheapest version of Max, which is $9.99 per month.

Persons: Casey Bloys, Max, Barry, WBD, who's, HBO Max —, there's Kathleen Finch, JB Perrette, Harry Potter, Bloys, HBO Max Organizations: Warner Bros, HBO, Max, DC, Netflix, Disney, Hollywood

☆ Streaming services like Hulu, Discovery+, and Disney+ have been ramping up the amount of ads in their shows
▼ + stars: | 2023-05-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

But in the past year, ad loads have crept up on almost all the top services, per MediaRadar. Now that streaming companies have fallen in love with ads, viewers can expect to see a lot more of them. Discovery+'s ad load grew 69%, to about 5 minutes per hour, while Hulu's jumped 38%, to 7.3 minutes per hour. MediaRadar shared numbers for standard commercial spots, which are the most common form of ads on streaming services. Disney+ Basic and Netflix's Basic with Ads are also increasing their ad loads — which is to be expected, as they're still ramping up.

☆ US weekly jobless claims fall; labor market still tight
▼ + stars: | 2023-05-18 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

Summary Weekly jobless claims drop 22,000 to 242,000Continuing claims decrease 8,000 to 1.799 millionWASHINGTON, May 18 (Reuters) - The number of Americans filing new claims for jobs benefits fell more than expected last week, with applications in Massachusetts decreasing sharply, suggesting the labor market remains tight. The steep decline in weekly unemployment claims reported by the Labor Department on Thursday reversed the surge in the prior week, which had boosted them to the highest level since Oct. 30, 2021. Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 242,000 for the week ended May 13. The labor market is being closely watched for signs of stress from the Federal Reserve's fastest interest rate hiking campaign since the 1980s. Though it has shown some signs of cooling, the labor market has remained tight, with 1.6 job openings for every unemployed person in March, well above the 1.0-1.2 range that is consistent with a jobs market that is not generating too much inflation.

☆ U.S. existing home sales post second straight monthly decline
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, May 18 (Reuters) - U.S. existing home sales fell for a second straight month in April, with prices rising in roughly half of the country, which together with possibly higher mortgage rates could delay a housing market recovery. Existing home sales dropped 3.4% to a seasonally adjusted annual rate of 4.28 million units last month, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home sales would fall to a rate of 4.30 million units. Home resales, which account for a big chunk of U.S. housing sales, tumbled 23.2% on a year-on-year basis in April. The housing market has taken the biggest hit from the Federal Reserve's fastest monetary policy tightening campaign since the 1980s.

☆ US single-family homebuilding, permits rise in April
▼ + stars: | 2023-05-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Summary Single-family housing starts rise 1.6% in AprilSingle-family building permits increase 3.1%Overall housing starts climb 2.2%; permits fall 1.5%WASHINGTON, May 17 (Reuters) - U.S. single-family homebuilding increased in April, but data for the prior month was revised sharply lower, suggesting that the housing market slump was far from over even as some segments show signs of stabilizing. The rise in single-family housing starts last month reported by the Commerce Department on Wednesday was concentrated in the West, with the rest of the three regions reporting big declines. Single-family housing starts, which account for the bulk of homebuilding, rose 1.6% to a seasonally adjusted annual rate of 846,000 units last month. Single-family housing starts plunged 28.1% on a year-on-year basis in April. The single-family homebuilding backlog increased 4.5% to 139,000 units, while the completions rate for this segment dropped 6.5% to a rate of 971,000 units.

☆ U.S. single-family housing starts rise in April; March revised down
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 17 (Reuters) - U.S. single-family homebuilding increased in April, but data for the prior month was revised sharply lower, suggesting that the embattled housing market was struggling to find a floor, despite a retreat in mortgage rates. Single-family housing starts, which account for the bulk of homebuilding, rose 1.6% to a seasonally adjusted annual rate of 846,000 units last month, the Commerce Department said on Wednesday. Data for March was revised down to show single-family homebuilding falling to a rate of 833,000 units instead of increasing to a pace of 861,000 units as previously reported. A survey on Tuesday showed the National Association of Home Builders/Wells Fargo Housing Market index increased in May to the midpoint mark of 50 for the first time since July 2022 as a dearth of previously owned homes supported new construction. The housing market has taken the biggest hit from the Federal Reserve's fastest monetary policy tightening campaign since the 1980s to tame inflation.

☆ These 18 top Netflix execs are driving its advertising push under head Jeremi Gorman as the company makes its first big TV upfronts pitch
▼ + stars: | 2023-05-17 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

Peter Naylor, VP of global advertising salesPeter Naylor, VP, global advertising sales. Netflix has also brought on several directors and other roles in ad sales who've worked at Hulu, Snap, and elsewhere. They are Kinsey Osberg Tamberrino, who is Publicis' main point of contact, and who spent eight years at Hulu, rising to director of advertising sales. Chad Rumminger, who focuses on automotive accounts, from automotive ad sales at Twitter. Julie Taylor Green is head of US vertical ad sales; she was TikTok's director of global business solutions before that.

☆ Warner Bros. Discovery just made another round of layoffs in sports, after calling 2023 a 'rebuilding' year
▼ + stars: | 2023-05-17 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

Discovery just laid off dozens of people across its sports division. WBD Sports has the rights to NBA, NHL, and MLB, plus streaming services and brands like Bleacher Report. Discovery isn't done with cuts after all — the media giant laid off dozens in its sports division on May 16. WBD CEO David Zaslav and other company leaders have been drumming the message that 2023 is a "rebuilding" year after the massive layoffs and cost cuts that followed the completion of the WarnerMedia and Discovery merger in spring 2022. Between layoffs and open positions that were not filled, the total cuts at WBD Sports represented about 10% of its workforce.

☆ US consumer spending appears solid early in second quarter
▼ + stars: | 2023-05-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Retail sales excluding automobiles, gasoline, building materials and food services rebounded 0.7% last month, the Commerce Department said. Data for March was revised slightly down to show these so-called core retail sales slipping 0.4% instead of 0.3% as previously reported. Core retail sales correspond most closely with the consumer spending component of gross domestic product. Economists estimated that core retail sales adjusted for inflation rose by about 0.6% in April. Sales at food services and drinking places, the only services category in the retail sales report, rose 0.6%.

☆ US retail sales miss expectations, but core sales strong
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

Retail sales rose 0.4% last month, the Commerce Department said on Tuesday. Retail sales are mostly goods, which are typically bought on credit, and are not adjusted for inflation. Excluding automobiles, gasoline, building materials and food services, retail sales rebounded 0.7% last month. Data for March was revised slightly down to show these so-called core retail sales slipping 0.4% instead of 0.3% as previously reported. Core retail sales correspond most closely with the consumer spending component of gross domestic product.

☆ Leaked memo: Amazon Studios parts ways with a longtime MGM film exec and expands others' roles in shakeup
▼ + stars: | 2023-05-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Amazon Studios is shaking up its business ranks in the wake of its acquisition of MGM. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Also getting new responsibilities is Sam Semon , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America. , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America.

☆ New York factory activity slumps in May - NY Fed
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 15 (Reuters) - The New York Federal Reserve said on Monday its barometer of manufacturing activity in New York State plunged in May, but the survey is extremely volatile, making it harder to interpret. A reading below zero signals the New York manufacturing sector is contracting. Nevertheless, higher interest rates and the rotation of spending back to services from goods is hurting national manufacturing activity. Tighter credit conditions are also seen as a drag. The New York Fed will on Tuesday publish a survey focusing on credit access and credit conditions.

☆ These 22 top reality TV companies making hits like 'Love Is Blind' and 'The Kardashians' could see a boom if the Hollywood writers' strike drags on
▼ + stars: | 2023-05-15 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +4 min

The Hollywood writers' strike could drive an increase in demand for unscripted programming. Insider identified companies dominating the genre, producing reality content for top networks and streamers. Check out 22 companies making top titles including "90-Day Fiancé," "Real Housewives," and more. Even if the writers' strike is resolved more quickly than pundits generally are predicting, reality TV's future looks bright. Reality shows are also a way for streamers to grow their international audience as much of it translates globally.

☆ Warner Bros. Discovery's ad sales chief is battling for market share at the TV upfronts. Meet his 8 deputies driving the strategy.
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's Jon Steinlauf is working to help the company rebuild amid a soft ad market. The task of grabbing a greater share of that ad market falls to chief US advertising sales officer Jon Steinlauf. He'd led its ad sales since 2018, having joined Discovery through its acquisition of Scripps Networks. He also has Warner experience, having served as VP of ad sales for Turner Broadcasting's TBS and TNT networks in the '90s. And it shared with Insider that four of Steinlauf's eight direct reports are women and that 56% of the ad sales leadership team are women.

☆ News startup Messenger launches with Trump 'exclusive' while advertisers expressed skepticism ahead of debut: 'We can't have another Quibi'
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

Jimmy Finkelstein's startup The Messenger launched today with a Trump interview leading the site. Advertisers said it'll be tough to sell ads on a site without an established audience. The site led with an interview with former President Donald Trump and ads from the American Petroleum Institute. The Messenger said it'll roll out seven other verticals including business, entertainment, and sports later in the year. Image from The Messenger's launch ad campaign.

☆ We identified the 112 top executives at Warner Bros. Discovery under CEO David Zaslav as the year-old company takes aim at Netflix and Disney
▼ + stars: | 2023-05-15 | by ( Claire Atkinson | Lucia Moses | Taylor Tyson | ) www.businessinsider.com time to read: +2 min

Warner Bros. One year after Discovery acquired WarnerMedia, WBD CEO David Zaslav faces economic headwinds and an ad slump. Insider mapped out the 112 most powerful people under Zaslav leading WBD film and TV studios, HBO, CNN, and more. One year after the merger that created Warner Bros. While Kathleen Finch has joined the mix with her portfolio of Discovery channels, top TV execs from the WarnerMedia regime — HBO's Casey Bloys and Warner Bros. TV studios chief Channing Dungey — are still in place.

☆ Warner Bros. Discovery's ad sales chief reveals how he'll tout flexible offerings and 6 new measurement deals to grab brand dollars from TV rivals
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Discovery ad sales chief Jon Steinlauf has a strategy to grab market share at the TV upfronts. WBD left money on the table at the 2022 upfront, Steinlauf said, and faces a soft 2023 ad market. Discovery's pitch to advertisers was all about the breadth of its newly merged portfolio of news, sports, and lifestyle entertainment. When it comes to WBD's Premiere package of top ad inventory, for example, ad sales chief Jon Steinlauf emphasized how advertisers could customize the mix of programming to meet their wants. Discovery debuted at an inopportune time, just a few weeks ahead of the biggest TV sales event of the year.

☆ Pluto TV's cofounder just unveiled a free, ad-supported TV set. Check out the 18-page deck he used to raise funds from top media analyst Rich Greenfield and Gary Vaynerchuk.
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Pluto TV cofounder Ilya Pozin has launched a new company that's trying to disrupt TV advertising. Telly is a free, ad-supported TV that's backed by Rich Greenfield, Gary Vaynerchuk, and more. Ilya Pozin, who disrupted cable with free ad-supported streamer Pluto TV, now wants to do the same for your physical TV. His company, Telly, came out of stealth mode May 15 with a new, ad-supported TV that's free to the user. Pozin said the idea for Telly grew out of Pluto, a free, ad-supported TV streaming service that he co-founded in 2013; it was acquired in 2019 by Viacom (now Paramount Global).

☆ A startup is giving away 500,000 TVs — with one catch: There's a second screen for ads. Here's how to get one.
▼ + stars: | 2023-05-15 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

A startup from a cofounder Pluto TV is giving away 500,000 TVs — but there's a catch. Here's how you can join the waitlist for the free TV, which the company says is valued at $1,000. Telly, a startup from a cofounder of Pluto TV is giving away 500,000 TVs — for free. There's a 55-inch 4K HDR screen where you can watch TV using the 4K streaming stick that's included, or by connecting a streaming device. Brands buying ads on the second screen are what will allow viewers to use the TV for free, according to Telly's website.

☆ Debt ceiling worries deepen as early June U.S. default reinforced
▼ + stars: | 2023-05-12 | by ( Richard Cowan | ) www.reuters.com time to read: +6 min

The U.S. Congressional Budget Office report, issued Friday morning, confirms Treasury Secretary Janet Yellen's earlier warnings that a default could come as early as June 1. Congress' budget scorekeeper also noted that the federal government's debt payments "will remain uncertain throughout May, even if the Treasury ultimately runs out of funds in early June." She also said she remained optimistic that the debt limit problem would be resolved. A senior Treasury official told Reuters she would do that with board members of the Bank Policy Institute lobby group. Democratic Representative Abigail Spanberger said members of the U.S. Congress ought to have their paychecks withheld until the debt limit problem is resolved.

Search resuls for: "Lucia"

25 mentions found