DIRS.INFO The most relevant business & tech news

☆ Britain to join Indo-Pacific trade bloc in biggest trade deal since Brexit
▼ + stars: | 2023-03-31 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Justin Tallis | AFP | Getty ImagesBritain struck a historic trade deal to join a vast Indo-Pacific trade bloc after nearly two years of intense negotiations. The U.K. said this was the country's largest post-Brexit trade deal and makes it the first European nation to join the CPTPP, since it came into force in 2018. watch nowNatalie Black, the U.K.'s trade commissioner for Asia Pacific, called it a "progressive deal" for Britain. Deborah Elms, executive director of the Asian Trade Centre, said it's very hard to calculate these trade figures, especially based on existing trade flows. watch nowThe trade flows are always "under what you actually are likely to see in the reality as businesses recognize the benefits and start to use a trade agreement like the CPTPP," she added.

☆ This is not another banking crisis, analysts say — it's 'sentiment contagion' instead
▼ + stars: | 2023-03-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

"It was more of a 'sentiment contagion' rather than the true systemic contagion we saw during the global financial crisis. Vanguard economists believe that the damage has been largely contained, thanks to the quick action of federal agencies and other banks," Devereux said. The bank launched a huge restructuring effort in 2019 and has since posted 10 straight quarters of profit. "We've seen a lot of stuff breaking and haven't really been paying attention because it's been outside of regulated capital. For the core, the big cap banks in Europe, I think we're looking at a completely different picture and I wouldn't be concerned."

☆ The Swiss claim the U.S. banking crisis ultimately toppled Credit Suisse. But are they right?
▼ + stars: | 2023-03-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Pascal Mora | Bloomberg | Getty Imageswatch nowHowever, the downward spiral of Credit Suisse's share price and mounting asset outflows were underway long before the collapse of Silicon Valley Bank earlier this month. Swiss regulator FINMA has come under fire for allowing the situation to deteriorate as the bank spent years mired in losses and scandal. Mark Yallop, chairman of the U.K.'s Financial Markets Standards Board and former U.K. CEO at UBS, told CNBC on Tuesday that he agreed with the broad assessment that Credit Suisse's downfall was "idiosyncratic." "It's unfortunate that the problems with some of the smaller U.S. banks in the last two or three weeks happened at the same time as this issue with Credit Suisse but the two are completely different and very largely unrelated," he said. By contrast, the Swiss banking and regulatory system has come under fire.

☆ European markets set to rally after Swiss central bank steps in to help Credit Suisse
▼ + stars: | 2023-03-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

The chairman of Credit Suisse's largest shareholder, Saudi National Bank, told CNBC's Hadley Gamble that the recent market turmoil in the banking sector is "isolated" and stems from "a little bit of panic." He added that Credit Suisse has not asked Saudi National Bank for financial assistance. "There has been no discussions with Credit Suisse about providing assistance," he said. "I don't know where the word 'assistance' came from, there has been no discussions whatsoever since October," he said. His comments come after Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank to shore up liquidity and investor confidence after its stock plunged Wednesday.

☆ Saudi National Bank says panic over Credit Suisse is 'unwarranted'
▼ + stars: | 2023-03-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Credit Suisse 's largest shareholder Saudi National Bank said the market turmoil in shares of the Swiss lender was "unwarranted." "If you look at how the entire banking sector has dropped, unfortunately, a lot of people were just looking for excuses," Saudi National Bank chairman Ammar Al Khudairy told CNBC's Hadley Gamble on Thursday. I believe completely unwarranted, whether it be for Credit Suisse or for the entire market," he said on CNBC's "Capital Connection." His comments come hours after Credit Suisse announced that it is taking "decisive action" to borrow up to 50 billion Swiss francs ($53.68 billion). The lender's shares plunged Wednesday after a report that the Saudi bank said it could not provide Credit Suisse with any further financial assistance.

☆ Silicon Valley greed and regulatory failure is behind SVB's collapse, investor says
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley greed and regulatory failure is behind SVB's collapse, investor saysKeith Fitz-Gerald of Fitz-Gerald Group speaks to CNBC's Capital Connection about the Silicon Valley Bank collapse.

☆ Mark Mobius: Adani had 'big problems' that put me off, but India still looks appealing
▼ + stars: | 2023-02-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Investor Mark Mobius was put off Adani's massive planned share sale because of concerns about the group's debt pile and exposure to political risk, he told CNBC Tuesday. So that's one of the big problems that I had," Mobius said. His firm, Mobius Capital Partners, focuses on emerging markets and India is one of its top allocations. Companies including Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power and Adani Total Gas have plummeted in value since then, with the group shedding more than $113 billion from its market value. On Feb. 1, Adani called off a fully subscribed $2.5 billion sale of Adani Enterprises shares, citing the stock price movements.

☆ Binance CEO says deposits are 'coming back in' but sees 'bumpy' road ahead for the crypto firm
▼ + stars: | 2022-12-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

His comments come after Binance temporarily halted withdrawals of the USDC stablecoin on Tuesday, while it carried out a "token swap." The episode left investors on edge, particularly after the collapse of crypto exchange FTX and subsequent arrest of its founder Sam Bankman-Fried, who is facing federal criminal charges. Blockchain analytics firm Nansen said on Tuesday that there have been more than $3 billion of net withdrawals from Binance over the last seven days. But the Nansen CEO Alex Svanevik said the situation is different to FTX, which saw withdrawals to the "tune of multi-billion dollars." Svanevik noted that Binance has around $60 billion worth of assets on its exchange, of which the withdrawals represent a small proportion.

☆ Here's what we know about the rebound in Chinese stocks this week
▼ + stars: | 2022-11-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese stocks rallied this week as investors hoped Beijing would soon relax its stringent Covid policy. The Chinese government has yet to announce any official policy change. However, the stock rally that accelerated Friday followed multiple unconfirmed rumors of a coming Covid policy change. Zhang pointed to a closed-door speech Friday morning by a chief scientist at the Chinese Center for Disease Control and Prevention that suggested a transition away from zero-Covid policy could happen soon. The disease control center and National Health Commission did not immediately respond to a request for comment.

☆ JPMorgan launches fundraising platform to lure startups
▼ + stars: | 2022-10-19 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - JPMorgan Chase & Co (JPM.N) is launching a platform that aims to connect startup founders with venture capital investors to simplify the fundraising process, the bank told Reuters. The new platform, Capital Connect, focuses on serving the financing needs of startups from their early stages, marking the ambition of the biggest U.S. bank by assets to further expand into the private market and build a founder-friendly brand in Silicon Valley. "We’ve seen a secular trend over the last decade is in the growth in private capital, and the private market is here to stay. Banks from Goldman Sachs (GS.N) to Silicon Valley Bank , to fintech players such as Carta, have expanded services into the private market with a focus on VC-backed startups. “We believe we can differentiate ourselves in the venture market by building a scalable digital platform, paired with the expertise, data, and relationships of our investment and private bank," said Elanjian.

☆ Insiders say Elemy often couldn't deliver on its promise to provide quick access to autism care
▼ + stars: | 2022-10-16 | by ( Jordan Parker Erb | Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Senior healthcare reporter Shelby Livingston is giving us a behind-the-scenes look at her reporting on Elemy, a startup that insiders say often failed to provide the quick access to autism care that it had promised. This week, I reported how SoftBank-backed Elemy aimed to transform autism care — but insiders say the $1.15 billion startup overpromised on its capacity to treat kids. More than 20 former and current employees spoke with me for this story. After an initial assessment, Elemy told them they'd be in therapy in no more than eight weeks. Here's what Compass insiders told us.

☆ It's time for Mark Zuckerberg to step down
▼ + stars: | 2022-10-13 | by ( Linette Lopez | ) www.businessinsider.com time to read: +8 min

Mark Zuckerberg should quit. He should step down from his position as CEO of Meta and let someone else manage Facebook, WhatsApp, and Instagram. Zuckerberg was so excited about legs that he jumped for joy as he talked about them. Zuckerberg already has two very profitable platforms — Facebook and Instagram — but their popularity is declining. Internally, employees told the Times, Meta workers refer to metaverse projects as MMH, or "Make Mark Happy,'' projects.

☆ The price would be 'steep' if President Putin uses nuclear weapons, Jim Townsend says
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe price would be 'steep' if President Putin uses nuclear weapons, Jim Townsend saysJim Townsend, former deputy assistant secretary of defense for European and NATO policy, speaks on CNBC's "Capital Connection" about NATO's plan to push ahead with planned nuclear exercises.

☆ Russia's latest attacks on Ukraine are a 'show of weakness,' says former U.S. ambassador to NATO
▼ + stars: | 2022-10-12 | by ( Natalie Tham | ) www.cnbc.com time to read: +1 min

Russia's latest attacks on Ukraine aren't a show of strength, but a "show of weakness" that reflects its inability to advance and seize Ukrainian territory, said Kurt Volker, a distinguished fellow at the Center for European Policy Analysis. On Monday, Russian President Vladimir Putin confirmed that he ordered long-range missile strikes on a number of locations in Ukraine targeting military, energy and communications facilities. "Putin's goal was to take over Ukraine, replace the government, have someone in Ukraine that was subordinate to Moscow. That's simply not going to happen," the former U.S. ambassador to NATO (2008-2009) told CNBC's "Capital Connection" on Tuesday. Volker, who was also U.S. special representative for Ukraine negotiations (2017-2019), added that Russia's increasing aggression is an expected reaction to Ukraine's resistance.

Search resuls for: "Capital Connect"

14 mentions found