DIRS.INFO The most relevant business & tech news

LONDON, June 30 (Reuters) - The economic pain of higher interest rates seems duller than many had braced for only late last year - and subdued household debt burdens may be at least partly responsible. More interest rate sensitive countries with more flexible loan rates - such at Canada, Australia and Sweden - are already turning higher. What's more, the overall impact of higher borrowing rates is partly offset by rising interest rates on savings. And so net of interest income, JPMorgan points out, interest costs are up only 0.2 percentage point of disposable personal income since the start of the Fed hiking cycle early last year. Higher costs are still coming with a lag for many and will drag on the economies further from here.

Persons: Jerome Powell, JPMorgan's Joseph Lupton, Maia Crook, Lupton, Crook, it's, Mike Dolan, Alison Williams Organizations: Federal Reserve, JPMorgan, Reuters, Twitter, Thomson Locations: Canada, Australia, Sweden, Britain, Central

☆ Translating Tolstoy While Inciting Revolution
▼ + stars: | 2023-06-28 | by ( Jennifer Wilson | ) www.nytimes.com time to read: +3 min

Over time, Garnett’s detractors would make her out to be a prim and proper smotherer of the wild (male) Russian soul. In Russia, the abolition of serfdom was part of a series of reforms meant to stave off revolution. Stepniak wrote a profile of Zasulich for his book “Underground Russia” (1882), a study of the country’s new revolutionaries. In England, “Underground Russia” was a smash hit, going through three printings the year it was translated. In a 1991 biography of Constance, Richard Garnett, the pair’s grandson, writes that “the young lovers had a row about Land Nationalization.”

Persons: prim, Nabokov, Gogol, “, Kornei Chukovsky, Garnett, Stepniak, ”, uncouth, Constance Black, Alexander II, Ivan Turgenev’s, Vera Zasulich, Zasulich, Russia ”, Clementina, Eleanor Marx, Karl’s, William Morris’s, Edward Garnett, Edward, Constance, Richard Garnett Organizations: British Museum, Russia, Fabian Society Locations: Russian, Soviet, Crimean, Russia, Brighton, St . Petersburg, Europe, England, London

☆ Wall Street rallies, dollar softens after solid economic data
▼ + stars: | 2023-06-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - U.S. stocks moved sharply higher in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors' risk appetite. "The economic data today was particularly strong," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Emerging market stocks rose 0.58%. U.S. Treasury yields edged higher as solid economic data calmed recession jitters. Crude prices slid after U.S. economic indicators surprised to the upside, ahead of energy demand data expected later in the session.

Persons: Brendan McDermid, Thomas Martin, Martin, Jerome Powell's, Christine Lagarde, Lagarde, Brent, Stephen Culp, Elizabeth Howcroft, Chizu Nomiyama, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, GLOBALT Investments, Financial, European Central Bank, ECB, Dow Jones, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Atlanta, China, Asia, Pacific, Japan, London

☆ How US stocks rose 20% from their lows, and where they might be going
▼ + stars: | 2023-06-09 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

NEW YORK, June 9 (Reuters) - U.S. stocks have defied fears of a recession, a banking crisis and soaring Treasury yields to rise 20% from their October lows - one definition of a bull market. Here are some features of the index's rally, and a look at where stocks might go from here. More recently, however, the market's gains have shown tentative signs of broadening out to other stocks. A 20% gain from bear market lows has in the past heralded further upside for stocks. In four of the last six bear markets, the S&P went on to rise 20% or more in the six months after hitting this milestone.

Persons: Saqib Iqbal Ahmed, Ira Iosebashvili, Daniel Wallis Organizations: YORK, Federal Reserve, Apple, Microsoft, Nvidia, Reuters, Investors, U.S, Citigroup, Thomson Locations: Treasuries, U.S

☆ Copycats are coming for JPMorgan's high-yield ETFs. Here's what's next for the popular funds
▼ + stars: | 2023-06-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Goldman Sachs filed last week to launch two similar funds: the Goldman Sachs U.S. Equity Premium Income ETF and the U.S. Tech Index Equity Premium Income ETF. Some other funds that use some form of a covered call strategy similar to JPMorgan's approach with equity linked notes are already on the market. The JPMorgan funds both have an expense ratio of 0.35%. However, even a fund that did exactly that would likely not be an option for some financial advisers until it had an established track record, giving the JPMorgan funds a big head start. The competition is coming even as the rally for growth stocks has dulled some of the allure for the JPMorgan funds.

Persons: JEPI, Goldman Sachs, Hamilton Reiner, Goldman, Reiner Organizations: JPMorgan Equity, JPMorgan Nasdaq Equity, SEC, JPMorgan, Goldman Sachs U.S, Equity, U.S . Tech, JEPI, Morgan Asset Management, Trust Locations: U.S, JEPQ

April 27 (Reuters) - The rouble steadied on Thursday, with the market looking ahead to Friday's interest rate decision, as favourable month-end tax payments propped the Russian currency up amid a significant drop in oil prices. By 1322 GMT, the rouble was 0.2% stronger against the dollar at 81.44 and had gained 0.6% to trade at 89.76 versus the euro . Month-end tax payments that usually lead exporters to convert foreign currency revenue to meet local liabilities are putting a floor under the rouble. Oil prices dropped almost 4% on Wednesday, extending sharp losses from the previous session, driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. "We still see no reason for the central bank to change the rate and its rhetoric, but inflation risks will continue to concern the central bank more than economic growth," said Dmitry Polevoy, head of investment at Locko-Invest.

[1/2] Hywind Tampen floating wind farm structures are being assembled at the Wergeland Base in Gulen, Norway, June 7, 2022. But by 2035, the LCOE for floating wind is expected to fall to about 60 euros/MWh. It plans to set a specific target for floating wind this year. Britain aims to have 5 GW of floating wind installed by 2030 but a report by the UK Floating Wind Offshore Wind Taskforce, said 34 GW could be installed by 2040 if ports were upgraded. "South Korea will be commercial the quickest," said Cole at Corio Generation, which has 1.5 GW of floating wind under development there.

☆ Meta's CFO Susan Li says some projects and teams will 'wind down' as part of ongoing efficiency push
▼ + stars: | 2023-03-09 | by ( Kali Hays | ) www.businessinsider.com time to read: +2 min

Susan Li said work to streamline Meta's operations and management structure is "ongoing." Projects and teams that don't fit the bill face being shut down, the CFO said. Apps across Meta and its metaverse division will see some internal projects shuttered and teams dissolved as executives at the company abide by Mark Zuckerberg's new efficiency mantra. Mark Zuckerberg last month declared 2023 Meta's "year of efficiency" and said he wanted to flatten layers of management. "This is going to result in us making some tough decisions to wind down projects in some places and shift resources away from some teams," Li added.

☆ Analysis: Sharp drop in equity premium may mark return of 60/40 portfolio
▼ + stars: | 2023-03-03 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +4 min

The thinning spread between returns from stocks and bonds is set to bring the 60/40 portfolio strategy back in favor. The Fed's move to tighten monetary policy at the fastest pace in decades pumped up bond yields after nearly two years of near-zero interest rates. On the other hand, "during a recession, yields will fall and Treasury bond prices will rise," said Roberts. While the economic downturn would hit stock returns, drop in bond yields should provide some relief in such a scenario, according to analysts. "For me, the best risk-reward portfolio in this environment for now is long duration Treasury bonds, and deep value, dividend equities," Roberts said.

☆ Three Years Into Covid, We Still Don’t Know How to Talk About It
▼ + stars: | 2023-02-22 | by ( Jon Mooallem | Photographs Ashley Gilbertson | ) www.nytimes.com time to read: +53 min

It will play out and reverberate for years or decades, Hagen told me. “The pathological normal,” Hagen calls it: a patchwork of homespun, bespoke realities, each one invested in a different story about what exactly happened when Covid ruptured the story of our lives. garb.”More than once, life seemed to be attaining “an uncanny resemblance to normal life,” as one man put it. But because we don’t totally understand where that experience has delivered us, we don’t know the right gloss to give it. “The days are strange,” one public-school teacher told Milstein toward the end of his first interview, in May 2020.

☆ Meta is asking some managers and directors to move to roles that don't involve any managing, or quit the company, report says
▼ + stars: | 2023-02-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Meta is asking managers and directors to move to different roles or quit, sources told Bloomberg. It wants these staff to switch to other roles which don't involve managing people, per Bloomberg. CEO Mark Zuckerberg said on February 1 that 2023 will be the "year of efficiency" for Meta. People familiar with the matter told the outlet that the company wants these staff to transition to individual contributor jobs, which don't involve managing other people, in its bid to improve efficiency and become more nimble. Zuckerberg told investors in Meta's most recent quarterly earnings call on February 1 that 2023 will be the "year of efficiency" for the company.

☆ Michael Kors owner Capri cuts forecasts as demand slows, shares plunge 24%
▼ + stars: | 2023-02-08 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

Feb 8(Reuters) - Michael Kors owner Capri Holdings Ltd (CPRI.N) on Wednesday cut its annual profit forecast and provided a dour outlook for 2024, blaming a slowdown in demand from department stores for its luxury handbags and apparel and sending its shares tumbling 24%. Capri said third-quarter sales fell 6%, driven by a 20% fall in revenue from its wholesale channel, which includes department stores and other retailers. Revenue for Michael Kors, Capri's biggest brand, fell 4.5% to $777 million in the Americas during the third quarter. Capri, which also owns Jimmy Choo and Versace, cut its annual sales forecast to $5.56 billion, from $5.70 billion. Analysts expect earnings per share of $7.24 on revenue of $6.03 billion.

☆ As travel resumes, China's luxury shoppers ask: Paris or Hainan?
▼ + stars: | 2023-01-05 | by ( Casey Hall | ) www.reuters.com time to read: +5 min

"When I would go to Paris, I couldn't ask the Paris sales people to keep a bag for me, but now here we can," she said. Under pandemic travel curbs, China's domestic luxury sales boomed, doubling to 471 billion yuan ($68.25 billion) from 2019 to 2021, according to Bain & Co. Even so, Chinese consumers' share of the global market fell to 21% in 2021 from 25% in 2019. "It will be interesting to see how new luxury consumers will perceive the difference between domestic and overseas luxury shopping," he said. ALTERNATIVESInternational travel restrictions and local policies to spur spending also drove many consumers to China's tax-free island of Hainan as a luxury shopping destination.

☆ So You Worked for FTX. Now What? Advice From Recruiters and Employers
▼ + stars: | 2023-01-02 | by ( Mengqi Sun | ) www.wsj.com time to read: +5 min

Former employees of FTX and other failed crypto firms will likely face extra scrutiny in their job hunt. While not all of the failed firms are associated with fraud allegations like FTX, anyone who worked at these businesses could face a tough slog finding their next job. “I worked with plenty of compliance folks who came from Lehman Brothers…Is it gonna be career-ending for some people? “People who you worked with that can vouch for you can bolster and can set you apart,” Mr. Brown said. Candidates also need to practice how to separate themselves and their own work experience and accomplishments from the firm they worked at, recruiters and hiring managers said.

☆ I paid a stylist $300 to determine which colors look best on me — and I've been oozing with confidence in my work wardrobe ever since
▼ + stars: | 2022-12-20 | by ( Jill Schildhouse | ) www.businessinsider.com time to read: +8 min

Writer Jill Schildhouse recently did a $300 "color analysis" session to reimagine her work wardrobe. While setting up the appointment, Thurber instructed me to arrive without any makeup, because a fresh face without outside influences interfering is needed to identify your best colors. Next, she went through my entire 'winter' spectrum of 36 colors to see which were most flatteringThese are also known as my "wow" colors. Jill SchildhouseSince my color analysis, I've discovered that building a new wardrobe around my color palette and "wow" colors really simplifies shopping and getting dressed. Family and friends have asked what I'm doing differently or why I'm glowing, and wearing these "wow" colors in my social media posts has even increased engagement.

☆ 'Kenan & Kel' actor Kel Mitchell on the upcoming 'Good Burger' sequel, mentoring new child stars as 'Uncle Kel,' and the controversial producer Dan Schneider
▼ + stars: | 2022-12-16 | by ( William Antonelli | ) www.businessinsider.com time to read: +17 min

Nickelodeon legend Kel Mitchell spoke to Insider this week about his career and the upcoming sequel to "Good Burger." The two also co-starred in "Good Burger," a 1997 comedy film that's become a cult classic among millennials and Gen Zers. Scholastic/PBS; Titmouse/Disney Television AnimationSpeaking of animated work, last year, Brian Robbins [director of "Good Burger" and Paramount Pictures CEO] said that he wanted to create a "Good Burger" animated series. I met a couple that said that [seeing "Good Burger"] was their first date, and then they got married, and now every anniversary they go and see "Good Burger" because it's part of their life, so it's so deep to me. Ex-Nickelodeon producer Dan Schneider (top-left) posing for a photo with Kel Mitchell and the cast of the show "Game Shakers."

☆ Long Covid is distorting the labor market — and that's bad for the U.S. economy
▼ + stars: | 2022-12-08 | by ( Greg Iacurci | ) www.cnbc.com time to read: +13 min

She eventually learned that the balance issues and ear pain resulted from a damaged vestibular nerve, a known effect of long Covid. She found that 2 million to 4 million full-time workers are out of the labor force due to long Covid. For one, many of the hundreds of potential long Covid symptoms are invisible to others, even if disabling for the afflicted. Why the long Covid labor gap mattersJerome Powell, chair of the Federal Reserve, mentioned Sheiner and Salwati's long Covid research in a recent speech about inflation and the labor market. That burden will continue to rise if long Covid patients don't start recovering at greater rates, she said.

☆ Gold prices inch higher on softer dollar
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices edged up on Monday and hovered near the key $1,800-level, as a softer U.S. dollar made the greenback-priced bullion cheaper for buyers holding other currencies. Spot gold rose 0.1% to $1,800.02 per ounce as of 0027 GMT. Lower interest rates tend to be beneficial for gold as it reduces the opportunity cost of holding the non-yielding asset. Physical gold demand stalled in India last week on higher prices, while premiums fell in top consumer China as Covid-19 restrictions dulled activity.

☆ After FTX's collapse, VCs across industries are finally admitting to crypto's failures — and they're preparing for 'more blows to come'
▼ + stars: | 2022-11-14 | by ( April Joyner | ) www.businessinsider.com time to read: +8 min

Investors stuck to crypto startups they considered "safe bets," but FTX's failure challenges that idea. Crypto startups held yacht parties through the summer and into early fall at events such as NFT.NYC and Messari Mainnet. "The whole crypto space is a high-leverage space, and it's susceptible to cascading failures." The events of the past week are unlikely to whet risk-averse LPs' appetite for crypto, investors told Insider. Even so, several investors who have backed crypto startups told Insider that despite the industry's recent travails, they remain believers in the technology.

☆ College Seniors Can Expect Lots of Job Offers Next Spring: Survey
▼ + stars: | 2022-10-26 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

The prospect of a recession hasn’t dulled many businesses’ enthusiasm for new college graduates. Companies plan to step up college hiring next year, according to a survey from the National Association of Colleges and Employers that tends to be an early forecast for the spring hiring season. The findings suggest the Class of 2023 may graduate into a job market as robust as the one for this year’s grads.

☆ Companies Plan to Boost College Grad Hiring in 2023
▼ + stars: | 2022-10-26 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

☆ The Overnight Rebuild That Has USC Back in the Top 10
▼ + stars: | 2022-10-11 | by ( Laine Higgins | ) www.wsj.com time to read: 1 min

LOS ANGELES—When Lincoln Riley took the top job at Southern California last November, he knew he was saying yes to a rebuild. What he didn’t realize was how many parts would be required to restore the Trojans to the elite status they once knew. Long one of the glitziest programs in college football, USC’s shine dulled considerably over the last decade. After Clay Helton was fired two games into the 2021 season, 54 players on the roster left via graduation, the NFL draft, the transfer portal or retiring from football.

☆ In European Drought, Mega Yachts Face a Minor Threat: Grime
▼ + stars: | 2022-09-22 | by ( Kevin Koenig | ) www.wsj.com time to read: 1 min

CANNES, France—The Cannes Yachting Festival, held during the second week of September in the French Riviera, is one of the largest boat shows in the world, drawing some 50,000 annual visitors to this small coastal city to gawk at massive, shimmering vessels whose price tags run well into the eight-figure range. Only this year, the dazzle was somewhat dulled. A few weeks before the show, the local government sent a letter to exhibitors: Because Europe is experiencing what could become its worst drought in 500 years, yacht companies were strictly prohibited from washing their boats using publicly accessible water. In the absence of rain, there would be more dirt than usual on display.

Search resuls for: "dulled"

23 mentions found