DIRS.INFO The most relevant business & tech news

GANDHINAGAR, India, July 16 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Sunday she was "eager" to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered. "I am eager to build on the groundwork that we laid in Beijing to mobilise further action." U.S. corporations want to see an environment where they could "invest and thrive in China", Yellen said. She said a debt restructuring "user guide" was needed for borrowing countries and other stakeholders to provide clarity about the process. "We should build better banks, not just bigger banks," Yellen said.

Persons: Janet Yellen, Yellen, David Lawder, Aftab, Sudipto Ganguly, William Mallard Organizations: . Treasury, U.S ., Sri, International Monetary Fund, U.S . Treasury, IMF, World Bank, Bank, U.S, Thomson Locations: GANDHINAGAR, India, China, Beijing, U.S, Washington, Moscow, Ukraine, Russia, Gandhinagar, Indian, Gujarat, Sri Lanka, Ghana, United States, Congress, Aftab Ahmed

[1/2] Demonstrators protest at a picket line outside of St Thomas' Hospital as junior doctors strike over pay and conditions, in London, Britain, June 14, 2023. REUTERS/Toby Melville/File PhotoSummary UK accepts independent pay recommendationsDecision follows widespread industrial reactionLONDON, July 13 (Reuters) - Britain's government has decided to accept recommendations for pay increases for millions of public sector workers, treasury minister John Glen said on Thursday, giving doctors and teachers at least 6% increases. Junior doctors will now get a 6% pay uplift and a lump-sum pay increase of 1,250 pounds ($1,633.25), while teachers would get 6.5%. He also announced pay increases for police (7%) and armed forces (5%). Glen said there would be no new borrowing or spending to fund the increases although teachers' pay rises would be funded by a reallocation of the existing education department budget.

Persons: Toby Melville, John Glen, Rishi Sunaks, Glen, Muvija M, David Milliken, William James, Kate Holton Organizations: St Thomas ' Hospital, REUTERS, Bank of England, Thomson Locations: St, London, Britain

☆ Fixed income investing is heating up. Here are a couple stocks to play it, according to Bank of America
▼ + stars: | 2023-07-13 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

A higher interest rate environment has made fixed income exciting, and Bank of America has a couple of stock plays on the theme. The Federal Reserve's series of 10 rate hikes has boosted yields on Treasurys and money market funds. Bank of America analyst Craig Siegenthaler says fixed income reallocation will continue to be a theme, and that could lift the shares of certain asset managers and brokers. "We believe [ BlackRock and Tradeweb ] are the two best ways to invest in fixed income with both retirees and pension plans raising allocations to traditional fixed income over the next 12 months," he said in a Tuesday report. He added investors should "expect sizable flows into fixed income, money markets and private credit over the next 12 months and look for bond trading volumes to increase."

Persons: Craig Siegenthaler, Tradeweb, Siegenthaler, – CNBC's Michael Bloom Organizations: Bank of America, Investment Company Institute . Bank of America, brokerages, LPL Locations: BlackRock

☆ Daniel Ellsberg, Pentagon Papers leaker and anti-war activist, dies at 92
▼ + stars: | 2023-06-16 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +7 min

Washington CNN —Daniel Ellsberg, a former military analyst and anti-war activist whose disclosure of the so-called Pentagon Papers revealed systemic US government deception about the Vietnam War, has died, his family announced in a statement. As part of his work with RAND, Ellsberg had access to classified documents that demonstrated how the US government had systemically lied to the public about the war, and Ellsberg felt compelled to reveal the information. In a letter to his friends that he shared on social media in March, Ellsberg reflected on his decision to leak the Pentagon Papers. “It was a fate I would gladly have accepted if it meant hastening the end of the Vietnam War, unlikely as that seemed (and was). “No organization really wants to show how the sausage is made or legislation is made, and they prefer to be the only voice on policy to the public,” Ellsberg told NPR.

Persons: Washington CNN — Daniel Ellsberg, Ellsberg, ”, “, ” Ellsberg, “ Daniel, systemically, Truman, Eisenhower, Kennedy, Johnson, Robert McNamara, Lyndon B, John F, Ngo Dinh Diem –, Nixon, CNN’s Christiane Amanpour, “ It’s, Chelsea Manning, Roe, Wade, Patricia, Robert, Mary, Michael Organizations: Washington CNN, New York Times, Press Foundation, RAND Corporation, RAND, The New York Times, Times, Washington Post, Pentagon, Committee, University of Massachusetts Amherst, Harvard University, Marine Corps, Harvard, International Security Affairs, State Department, White House, WikiLeaks, NPR Locations: Vietnam, Kensington , California, Chicago, Detroit, United Kingdom, Amherst, Iraq

☆ New job data show a changed labor market
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +5 min

TRUCKERS, MANAGERS AND THERAPISTS The Post-Pandemic Workforce What new data show about the U.S. labor market that emerged from the coronavirusThe pandemic sparked what seemed a massive reshuffling of who does what in the American workforce. Keeping track of that shifting landscape falls to the Bureau of Labor Statistics, which every year details how many people do different types of jobs. The graphic shows the number of jobs in 22 occupational categories in 2016, 2019 and 2022. The graphic shows how the percentage share in the total workforce changed from 2019 to 2022 for each of 22 occupational categories. With natural population growth slowing, immigration could play an important role in how labor demands are met.

Persons: Jobs, Green Roofers Organizations: Bureau of Labor Statistics, BLS, Movers, Sales, Mental Health, Federal Reserve Locations: COVID, U.S

May 16 (Reuters) - French video game producer Ubisoft (UBIP.PA) posted the biggest operating loss in company's history on Tuesday but stuck to its guidance for the current financial year, citing a renewed focus on blockbuster titles. The maker of the hit "Rainbow Six" franchise posted a full-year non-IFRS operating loss of 500.2 million euros ($550.6 million), in line with a target announced in its January profit warning. The family-run firm has been dogged by game cancellations and delays in recent years, booking a writedown estimate of around 500 million euros in 2022 due to research and development expenses. The Paris-listed publisher confirmed its estimate for a full-year core profit of around 400 million euros, while forecasting first-quarter net bookings of around 240 million euros. ($1 = 0.9084 euros)Reporting by Victor Goury-Laffont and Enrico Sciacovelli; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Looking for a new career? Here are 30 high-paying, fast-growing jobs that are set to boom over the next decade
▼ + stars: | 2023-04-24 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

How we came up with our list of the best jobs of the futureThe above 30 jobs both pay above the median annual wage and are poised to grow over the next decade. The Bureau of Labor Statistics releases annual employment projections of how various jobs will grow or decline over the next decade. A higher geometric mean would mean a higher rank. Wage data is for May 2021 from the Bureau's Occupational Employment and Wage Statistics program. We only included jobs that pay over $45,760, the median wage for all occupations, because we were interested in jobs that are both expected to grow and pay well.

☆ $70 billion Los Angeles retirement plan says higher rates may 'change everything' and portfolio moves are coming
▼ + stars: | 2023-04-19 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

A year into the most significant period of Federal Reserve rate hikes in decades, you might think investors had already cemented their investment portfolio strategies for a higher interest rate world. According to LACERA's 2022 annual report, its investments were split between roughly $24 billion in public equities, $19 billion in bonds, $13 billion in private equity, $6 billion in real estate, $4 billion in hedge funds and $1 billion in real assets. Last year was the first in the prior three fiscal years that the pension fund's investment portfolio lost money. By contrast, investment returns of 25.2% in 2021 were far ahead of the 7% percent, which LACERA attributed to the strong performance from global equity and private equity assets. A shift to more fixed income among top investors will flow through to the "whole economy," Grabel said.

☆ UBS sees a rally in these bank stocks ahead as bank crisis appears contained
▼ + stars: | 2023-03-31 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Several bank stocks appear ready to rebound in April as the failure of Silicon Valley Bank fades from investors' minds, according to UBS. UBS analyst Erika Najarian said in a note to clients that the next step could be a rebound for bank stocks. Thus, we see the stage setting for a rally into earnings," Najarian said. Two of the stocks that UBS highlighted were Comerica and Western Alliance , which are down about 38% and 52%, respectively, in March. WAL 1M mountain Western Alliance is one of many regional bank stocks that has struggled in March.

☆ The tech rally is a sector reallocation rather than demand acceleration: Jefferies' Brent Thill
▼ + stars: | 2023-03-17 | 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 tech rally is a sector reallocation rather than demand acceleration: Jefferies' Brent ThillBrent Thill, Jefferies equity research analyst, joins 'Squawk on the Street' to discuss the potential for future downticks in tech demand, increasing moves towards portfolio reallocations, and more.

☆ Biden offered Elon Musk a rare bit of praise after Tesla agreed to open up its charging network to rivals by the end of 2024
▼ + stars: | 2023-02-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

On Wednesday, US President Biden offered up some rare praise for an unlikely candidate. Elon Musk opened up Tesla's charging network to rivals. "That's a big deal, and it'll make a big difference," Biden tweeted. That's unusual, as Biden and Musk appear to have a strained relationship, and even traded barbs publicly. On Wednesday, Musk received rare praise from US President Joe Biden after Tesla agreed to open at least 7,500 of its charging stations to other electric vehicles by the end of 2024.

☆ Sanctions on Russian oil are having the 'intended effect,' IEA says
▼ + stars: | 2023-02-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Russia announced that it would cut oil production by 500,000 barrels per day in March after the West slapped price caps on Russian oil and oil products. The European Union's embargo on Russian oil products came into effect on Feb. 5, building on the $60 oil price cap implemented by the G-7 (Group of Seven) major economies on Dec. 5. Bosoni, who's head of the oil industry and markets division at the IEA, told CNBC on Wednesday that Russian oil production and exports had held up "much better than expected" in recent months. Some Russian oil is also still making its way to Europe through the Druzhba pipeline and Bulgaria, both of which are exempt from EU embargo. watch now"The price cap was put in place to allow for Russian oil to continue to flow to market, but at the same time reducing Russian revenues.

They stressed that the reallocation would be gradual and not result in fire sales, with new money going largely into fixed income rather than alternative investments. Goldman Sachs' asset management arm is planning to significantly reduce its $59 billion of alternative investments. Credit rating agencies Moody's and S&P, which both give Allianz high marks, have pointed to the greater risk posed by comparatively illiquid alternative investments in Allianz's portfolio. Alternative investments come at a price, requiring Allianz and other insurers to set aside more capital to own them because they are less liquid than bonds. In its wake, Allianz has had to close down Allianz Global Investors in the United States in a serious blow to the company.

☆ FPI selling in Indian stock hits 7-month high on rich valuations, Adani rout
▼ + stars: | 2023-02-06 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, Feb 6 (Reuters) - Foreign portfolio investors (FPIs) offloaded Indian equities worth 288.52 billion rupees ($3.51 billion) in January, the most since June, data from National Securities Depository Ltd. showed. Reuters GraphicsThe selling coincided with a slide in equity benchmarks, with Nifty 50 (.NSEI) falling 2.45% in the first month of 2023. WHAT FOREIGN INVESTORS SOLD & BOUGHTForeign investors sold the most in financials, offloading 152.04 billion rupees of shares, followed by 75.96 billion rupees in oil and gas and 27.77 bln rupees in consumer durables. Reuters GraphicsMetals was the only major sector that saw renewed interest from foreign investors, who bought 43.69 billion rupees worth of equities. ($1 = 82.3130 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
▼ + stars: | 2023-02-01 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

Big oil sees political pushback on buybacksFuel prices at a Chevron gas station in Menlo Park, California, on Thursday, June 9, 2022. In the market, and at the oil companies headquarters, it seems the opinions issued from the White House aren't much of a factor in setting financial priorities. The benchmark now is to spend roughly a third of operating cash flow on capital investment, a third on dividends and a third on stock buybacks. Exxon made $76.8 billion in operating cash flow, invested $18 billion back into the business, spent $14.9 billion on dividends and $15.2 billion in stock purchases, according to its cash flow statement. Oil production is increasing

☆ Why desalination won't save states dependent on Colorado River water
▼ + stars: | 2023-01-27 | by ( Emma Newburger | ) www.cnbc.com time to read: +8 min

The Colorado River wraps around Horseshoe Bend in the in Glen Canyon National Recreation Area in Page, Arizona. "Ocean water desalination has tremendous allure," said Robert Glennon, a professor emeritus of law and water policy scholar at the University of Arizona. Pipes containing drinking water are shown at the Poseidon Water desalination plant in Carlsbad, California, U.S., June 22, 2021. The cost of water is highSince desalination is a drought-resistant process, some have argued that states with such facilities could make themselves less dependent on water from the Colorado River. That's significantly more than the amount the San Diego County Water Authority pays for water sourced from the Colorado River and the Sacramento San Joaquin River Delta.

☆ China's 'great migration' kicks-off under shadow of COVID
▼ + stars: | 2023-01-07 | by ( Casey Hall | ) www.reuters.com time to read: +6 min

BORDER REOPENINGSunday marks the reopening of China's border with Hong Kong and the end of China's requirement for inbound international travellers to quarantine. More than a dozen countries are now demanding COVID tests from Chinese travellers, as the World Health Organisation said China's official virus data underreported the true extent of its outbreak. In Shanghai, for example, the city government on Friday announced an end to free PCR tests for residents from Jan. 8. China has relied on nine domestically-developed COVID vaccines approved for use, including inactivated vaccines, but none have been adapted to target the highly-transmissible Omicron variant and its offshoots currently in circulation. China reported three new COVID deaths in the mainland for Friday, bringing its official virus death toll to 5,267, one of the lowest in the world.

☆ Dollar slips on recession fears; central bank meetings loom
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: +3 min

The dollar eased on Friday as worries over a slowdown in the United States mounted, with traders on guard ahead of a slew of central bank meetings next week, where the Federal Reserve takes centerstage. Against the greenback, the euro rose nearly 0.5% overnight and edged toward a six-month peak hit at the start of the week. It was last 0.23% higher at $1.0579, and is on track for a third straight week of gains. Sterling similarly eked out a small gain overnight and last rose 0.23% to $1.22695, not far off Monday's six-month high of $1.2345. The European Central Bank and the Bank of England will also announce their monetary policy decisions next week, with markets keenly watching for guidance on 2023's outlook.

☆ Dollar slips on recession fears, c.bank meetings loom
▼ + stars: | 2022-12-09 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the greenback, the euro rose nearly 0.5% overnight and edged toward a six-month peak hit at the start of the week. It was last 0.23% higher at $1.0579, and is on track for a third straight week of gains. Sterling similarly eked out a small gain overnight and last rose 0.23% to $1.22695, not far off Monday's six-month high of $1.2345. An inversion of this yield curve is typically a precursor to recession.

☆ Russia assembles a 'shadow fleet' of more than 100 oil tankers as Putin tries to bust western sanctions, report says
▼ + stars: | 2022-12-03 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Russia has a "shadow fleet" of oil tankers to bypass western sanctions, the Financial Times reported. The EU has agreed on a $60 a barrel price cap on Russian oil after Poland wanted it set at just $30. Russia assembled what the industry described as the "shadow fleet" in a bid to counter new sanctions. Analysts estimate a shortfall as Russia still needs more tankers to maintain its export levels, according to the report. Rystad analyst Viktor Kurilov told the newspaper: "Russia needs more than 240 tankers to keep its current exports flowing."

☆ Republican takeover of U.S. Congress would mean tax fights are back
▼ + stars: | 2022-11-04 | by ( David Lawder | Gram Slattery | ) www.reuters.com time to read: +6 min

Congressional Republicans' tax strategies and a Democratic White House could ultimately mean a status quo on rates, deductions and credits for the next two years, tax professionals and analysts say. TAX CUTS AND JOBS ACT"We want to make the Tax Cuts and Jobs Act permanent, which will strengthen the economy," a senior House Republican aide told Reuters. That 2017 Republican-passed tax law slashed top-line tax rates on corporations, a permanent feature that Democrats failed to reverse with control of Congress over the last two years. AIMING AT THE IRSOther targets for Republican tax legislation include rolling back a new 15% domestic corporate minimum tax for large companies and $80 billion in new funding for the Internal Revenue Service in Biden's climate and healthcare law. It will be used to fill thousands of IRS positions coming empty due to retirements and budget cuts; Republicans have described the hires as an 'army' aimed at harassing taxpayers.

☆ GOP groups spend $6.2 million in Oz-Fetterman Senate race in Pennsylvania as polls tighten in final two weeks
▼ + stars: | 2022-10-25 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Mehmet Oz, US Republican Senate candidate for Pennsylvania, speaks during a campaign event in Pittsburgh, Pennsylvania, US, on Friday, Sept. 30, 2022. Two PACs, American Crossroads and the Faith and Power PAC, are respectively pouring $3 million and $3.2 million into Pennsylvania. Both groups are linked to the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell. The spending, first reported by Politico, will fund ads beginning Tuesday that will last through Election Day on Nov. 8, a spokesman for the Senate Leadership Fund told CNBC. It also came days after the Senate Leadership Fund abruptly canceled millions of dollars it had reserved in another Senate race in New Hampshire.

☆ French development minister backs World Bank reforms, calls for U.S. SDR loans
▼ + stars: | 2022-10-14 | by ( David Lawder | ) www.reuters.com time to read: +3 min

Last week, Yellen called on the World Bank and other multilateral development lenders to revamp their business models, stretch their balance sheets and harness more private capital to dramatically boost lending to address global needs such as climate change. Register now for FREE unlimited access to Reuters.com RegisterYellen asked for an "evolution roadmap" from the World Bank by the end of December. Zacharopoulou, who is attending the International Monetary Fund and World Bank annual meetings in Washington this week, said France was ready to help with the reforms. Despite strong support for increasing resources to war-torn Ukraine at the IMF and World Bank meetings, Zacharopoulou said that countries also needed to keep up a strong focus on supporting other developing countries. The United States has not contributed any of its $101.5 billion share of the SDR allocation to the trust funds, a move that would require approval from Congress.

☆ These 4 trends are keeping Boomers unemployed and holding the US back from a full recovery
▼ + stars: | 2022-09-28 | by ( Ben Winck | ) www.businessinsider.com time to read: +7 min

Older Americans are struggling to rejoin the workforce, and it's weighing on the economy. That drop in older workers could threaten the already-shaky economic recovery, according to a report published by ZipRecruiter on Wednesday. Yet as the recovery progresses, a handful of obstacles are keeping older Americans out of the workforce. Where that's easily accessible for young workers, older Americans face a steeper learning curve just to compete. Older workers' confidence is dismalThe three aforementioned trends have contributed to a simple truth: older workers are immensely discouraged.

Researchers have built autonomous delivery robots that can climb stairs. Delivery companies are always on the lookout for the next big innovation in the sector. Some big names have also developed their own autonomous delivery robots, like Alibaba, whose robots are becoming ever more prominent in daily life in China. These robots will be used for last mile delivery and will start operating in a pilot phase this year in Esplugues de Llobregat (Spain), Hamburg (Germany), and Debrecen (Hungary). These autonomous delivery vehicles would represent "a significant reallocation of the carrier's costs and would make the service more economical and efficient than with conventional vehicles," it continues.

Search resuls for: "reallocation"

25 mentions found