DIRS.INFO The most relevant business & tech news

☆ NYC's EV revolution is riding on Uber and Lyft drivers
▼ + stars: | 2024-04-22 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +13 min

For Uber and Lyft drivers, time is money, so widely accessible charging is key to the EV switch. A study by the US Department of Energy found that 1,000 fast chargers were needed for every 20,000 EV drivers on the road. A mad dash for EV licensesThe transition is getting an early test this year now that thousands more ride-hailing drivers have licenses. AdvertisementIn October, the Taxi & Limousine Commission opened applications for this gig work for the first time in five years — but for EV drivers only. In exchange, Uber drivers will get up to a 25% discount when they charge.

Persons: Manhattan, Tesla, Eric Adams, Bobby Familiar, Revel, Michael Replogle, David Do, Aeraj Qazi, Qazi, Guillermo Fondeur, Uber, he's, Fondeur, Adams, EVs, Con Edison, Flo, Replogle, it's, Josh Gold, Uber's, that's, Do, we've, Juliana Kaplan Organizations: EV, US Department of Energy, Business, NYC's Department of Transportation, Chargers, Taxi, Limousine Commission, TLC, New York Taxi Workers Alliance, Rentals, Department of Transportation, DOT, LaGuardia Airport, Tesla, Gravity, Green, Initiative Locations: New York City, Queens, NYC, Canadian, Canada, EVs, Manhattan, America

☆ What the conversation about Caitlin Clark’s pay gets wrong
▼ + stars: | 2024-04-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

The WNBA’s stars aren’t asking to be paid an equal dollar amount to NBA players, however. WNBA players have made progress on salaries since 2020, when they reached their latest collective bargaining agreement with the league. Sharing the revenue pieBecause it’s a smaller and younger league, women’s players have had less bargaining power with team owners over their pay than men. While NBA players receive 50% of total NBA revenue, the WNBA must hit a certain revenue threshold annually before any revenue sharing agreements kick in. This has held back women’s salaries.

Persons: Caitlin Clark, Clark, Angel Reese, ” Terri Jackson, David Berri, Kelsey Plum, Griner, Jackson, ” Jackson, “ It’s, ”, Alicia Jessop, “ That’s, ” David Berri, David Stern, “, Berri, Cathy Engelbert, ” Breanna Stewart Organizations: New, New York CNN, NBA, National Basketball Association, Women’s National Basketball Association, University of Iowa, Louisiana, NCAA, WNBA, ’ Association, CNN, Southern Utah University, Las Vegas Aces, —, Phoenix Mercury, ’, Pepperdine University, longtime, New York Liberty Locations: New York, men’s, Russia

☆ Oil prices could see 'super spike well above $100' if conflict escalates after Iran's attack on Israel
▼ + stars: | 2024-04-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Insufficient investment makes supply more fragile and increases the chance of a super spike well above $100 if supply is disrupted. Stock Chart Icon Stock chart icon Oil prices since the start of the year. "I think oil prices will go to all time highs this cycle, due to a decade of under-investment in exploration and development," Young added. Oil prices have climbed in recent months on trade disruptions and delays caused by Red Sea maritime attacks from the Houthis, who claim solidarity with the Palestinian people.

Persons: Saeid Arabzadeh, Israel reigniting, Andy Lipow, Daniel Hagari, Josh Young, Brent, Young, Morgan Stanley's Organizations: Afp, Getty, OPEC, CNBC, Brent, Lipow Oil Associates, Israel Defense Forces, Bison, Iran's United Nations, underinvestment, U.S, West Texas Locations: Persian, Iran, Hormuz, Oman, Israel, Damascus, Syria, Asia

☆ Can China play a role in avoiding an all-out war in the Middle East?
▼ + stars: | 2024-04-15 | by ( Nectar Gan | Simone Mccarthy | ) edition.cnn.com time to read: +9 min

“China calls on the international community, especially countries with influence, to play a constructive role for the peace and stability of the region,” the ministry added. The decision by Iran’s leaders to strike at Israel directly has pushed the shadow war between the two regional foes into the open. That’s why China does not condemn Iran,” said Yun Sun, director of the China program at the Washington-based Stimson Center think tank. Beijing meanwhile denounced the strike as a “barbarian act,” with protests erupting outside US diplomatic compounds across China. “For China, had US applies enough pressure on Israel, neither the Israeli attack nor the Iranian retaliation would have taken place.

Persons: Beijing’s, Antony Blinken, Wang Yi –, Saudi Arabia –, ”, William Figueroa, Figueroa, “, Xi Jinping, China’s, Iran ”, Israel, ” Figueroa, Wang Wenbin, Wang, Yun Sun, Bill Clinton, Jiang Zemin, ” Sun, Kishida, Jaishankar, Israel Katz, Hossein Amirabdollahian Organizations: Hong Kong CNN, Foreign Ministry, Washington, US State Department, Hamas, Beijing, Tehran, University of Groningen, Global Security Initiative, CNN, Chinese Foreign Ministry, Stimson, NATO, Embassy, Japan’s, Israel’s Foreign, Iranian Locations: China, Hong Kong, East, Iran, Israel, Beijing, Gaza, Tehran, Damascus, Republic, Turkey, Saudi Arabia, Palestinian, Red, Tehran –, Netherlands, underinvestment, United States, Israeli, Syria, Quds, Washington, Belgrade, That’s, Yugoslavia, Asia, ”, India, Philippines, Malaysia, Indonesia

☆ Dollar stores are shutting down across America. They did this to themselves
▼ + stars: | 2024-04-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Dollar Tree believed acquiring Family Dollar would help it compete against larger rivals. “When Dollar Tree bought Family Dollar, they didn’t really know what they were doing,” D’Arezzo said. Many Family Dollar stores were located too close to each other and cannibalized each other’s own sales, too, D’Arezzo said. Family Dollar “needs more work than the company originally thought.”A year later, an activist investor pushed for a sale of the “underperforming” Family Dollar business, and Family Dollar announced it would close 390 stores. Dollar Tree and Family Dollar executives say Family Dollar can still succeed, however.

Persons: Dollar, Ron Holman, ” Neil Saunders, GlobalData, “, ”, David D’Arezzo, Rick Dreiling, Kelly Bania, Carl Icahn, Nelson Peltz —, ” D’Arezzo, D’Arezzo, Dreiling Organizations: New, New York CNN, Visalia Times, USA, Dollar, BMO Capital Markets, “, Street, Justice Department, Bloomberg, Walmart, Costco Locations: New York, West Coast and Texas, West Memphis, ”, California , Nevada , Arizona, Texas, California

☆ JPMorgan's Jamie Dimon warns the world is on fire — and plenty of people are way too bullish
▼ + stars: | 2024-04-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

In his annual letter to JPMorgan shareholders, Jamie Dimon rang the alarm on geopolitical tensions. The bank's CEO said investors were too optimistic about inflation, interest rates, and the economy. AdvertisementJamie Dimon is deeply concerned about international relations — and worries investors are too optimistic about threats such as inflation, interest rates, and recession. AdvertisementIndeed, Dimon said JPMorgan was ready for rates of 2% to 8% or even higher. He flagged the possibility of stagflation, which could usher in higher rates, large credit losses, a slump in business volumes, and tough markets.

Persons: Jamie Dimon, —, Dimon, Sharp, he's Organizations: JPMorgan, Service, Federal, Wall Locations: Ukraine, China

☆ A CIO overseeing $1.4 trillion breaks down why the Magnificent 7's run may soon be over — and shares 2 trades he's betting on for the years ahead as market participation broadens out
▼ + stars: | 2024-03-27 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But Jim Smiegel, the CIO at $1.4 trillion SEI, thinks the stocks' run could be over soon. Tesla shares are down 32% since December, while shares of Apple are down 14% over the last few months. Historically, higher interest rates hurt growth stocks with higher valuations. 2 areas to look insteadSmiegel listed two areas of the market that look more attractive to him at the moment: energy and financials.

Persons: —, Meta —, Jim Smiegel, Smiegel, There's Organizations: Service, Apple, Microsoft, Nvidia, Meta, SEI, Business, Federal, CPI, Vanguard

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ The 'best' investment right now: Fund manager picks stocks with almost 15% total returns
▼ + stars: | 2024-02-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of oil giants and European infrastructure companies can act as a hedge against inflation while also delivering strong annual growth, according to fund manager Freddie Lait. Lait manages two funds — the Latitude Horizon Fund and the Latitude Global Fund — with more than $750 million of assets collectively and holds all three stocks in both funds. BP SHEL 1Y line The fund manager explained that with oil currently around $85 per barrel, and his assumption of $70-75 long-term, his oil and gas stock picks can generate nearly double-digit annual returns for shareholders. 'Phenomenally interesting' stock Beyond energy names, Lait said his favorite inflation-linked stock is Vinci which he described as "phenomenally interesting." The company operates a mix of toll roads and civil engineering projects with long-term inflation adjustment mechanisms.

Persons: Freddie Lait, Lait, Vinci, Goldman Sachs Organizations: Latitude Investment Management, Shell, CNBC Pro, International Energy Agency, London Gatwick, Atlantic City International, Vinci Locations: Saudi Arabia's, Aramco, Burbank, United States

☆ The US is almost out of options to make Russia pay for Navalny's death
▼ + stars: | 2024-02-19 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewWhen President Joe Biden addressed the sudden death of Russian dissident Alexey Navalny last week, he had no doubt where the blame lay. But where Biden sounded less certain, was on how the Russian president should pay for the alleged crime. For instance, the US has sought to cut off Russia's export of oil and gas, a trade that is at the heart of the Russian economy. Putin has placed the Russian economy on a war footing, with 6% of GDP spent on arms and ammunition production, meaning that US attempts to seriously constrict Russian weapons production have failed. And there remain options open to the US and other countries in the West if they choose to punish Russia even further.

Persons: —, Joe Biden, Alexey Navalny, Biden, Navalny, Putin, Donald Trump, Elisabeth Braw, Edward Lucas Organizations: Service, Business, Kremlin, New York Times, Munich Security, US, Republicans, Treasury, Atlantic Council, Observer, Times Radio Locations: Russian, Russia, Ukraine, India, China

☆ Russia can sustain war effort ‘for another two or three years,’ say analysts
▼ + stars: | 2024-02-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +6 min

While this has meant trading “quality for quantity,” Russia has also been able to manufacture new vehicles. The authors concluded Russia could sustain its current rate of attrition for up to three years and maybe longer. Total military spending now represents one third of its national budget and will reach about 7.5% of GDP, signaling the focus on its war effort,” Giegerich said. Alexander Ermochenko/ReutersThe Royal United Services Institute (RUSI), another think tank, published its own report this week on Russia’s shifting military objectives and capacity. The report said Russia will seek to achieve its objective in three stages.

Persons: ” “, Mike Johnson, ” Bastian Giegerich, ”, Ukraine’s, ” Giegerich, Alexander Ermochenko, Kyiv “ Organizations: CNN, Ukraine “, Institute for Strategic Studies, West, United States Senate, NATO, European, Pentagon, “, Reuters, Royal United Services Institute, Russian, Services, Kyiv Locations: Russia, Ukraine, Ukraine’s, “ Russia, Olenivka, Donetsk region, Ukrainian, “

☆ Big Tech executives to appear at Senate hearing to defend social media’s impact on teens
▼ + stars: | 2024-01-31 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +6 min

Zuckerberg is expected to tout the company’s more than 30 safety controls, according to prepared testimony released ahead of the hearing. In recent weeks, Meta has also begun hiding more “age-inappropriate” content in teens’ feeds and restricting teens from receiving direct messages from people they don’t follow. Ideally, Clegg said, Zuckerberg would authorize as many as 124 new hires, but acknowledged that financial pressures could make it difficult. After months of radio silence from Zuckerberg, Clegg tried to follow up, this time with a slimmed-down proposal that envisioned either 25 new hires or, if even that was infeasible, just seven. “This would be the bare minimum needed to meet basic policymaker inquiries,” Clegg wrote to Zuckerberg on Nov. 10, 2021.

Persons: “ We’re, ” Connecticut Democratic Sen, Richard Blumenthal, Mark Zuckerberg, Zuckerberg, Evan Spiegel, Rosemarie Calvoni, Meta, Calvoni, ”, ” Calvoni, Arturo Béjar, ’, Tennessee Republican Sen, Marsha Blackburn, Sheryl Sandberg, Global Affairs Nick Clegg, Clegg —, —, Clegg, ” Clegg, Sandberg, “ Organizations: Washington CNN, Meta, Twitter, ” Connecticut Democratic, Facebook, Blumenthal, Tennessee Republican, Global Affairs Locations: ” Connecticut, Massachusetts

FRANKFURT, Germany (AP) — Europe’s economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, according to figures released Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5%. With higher shipping costs and delays to products from clothes to keyboard components, concerns are growing of new consumer price spikes if the conflict in Gaza drags on or escalates. The trade disruption could add as much as 0.5% to core inflation, which excludes volatile fuel and food prices, Oxford Economics said.

Persons: ”, Holger Schmieding, Yemen's Houthi Organizations: EU, Eurostat, European Central Bank, Oxford Economics, ECB, Hamas, Oxford Locations: FRANKFURT, Germany, Suez, Asia, Europe, Berenberg, United States, Russia, Ukraine, Red, Africa, Gaza

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ Why America hates its children
▼ + stars: | 2024-01-07 | by ( Lydia Kiesling | ) www.businessinsider.com time to read: +17 min

Time and again, I was struck by a public attitude toward children I seldom encountered in America: unequivocal support. In America, we socialize our children to see strangers not as helpers but as threats. Virtually every other industrialized nation provides more government aid for their children than America does. Children who are neglected — a loose term inextricably tied to poverty — are thrown into a foster-care system known for its propensity to harm children. From the tumult of the pandemic, the calls for America to care more for its children are getting louder.

Persons: George Washington, Jesse Zhang, Charlie Shepherd, Shepherd, Richard Nixon, Nixon, Franklin Roosevelt, leery, unironically, Sen, Joe Manchin, Serabi Medina, Serabi, Sandy, —, Lydia Kiesling Organizations: United Nations, hasn't, UN, Senate, National Government, Social Security, Jet, Centers for Disease Control, Business, Child Protective Services, Pediatrics, Black Panthers, National Domestic Workers Alliance, State, Mobility, New York Times Magazine, New Yorker Locations: Greece, America, Sweden, Oregon, Idaho, Athens, Chicago, Sandy Hook , Connecticut, Uvalde , Texas, Portland , Oregon, New Mexico

☆ The state of the US housing market in 5 charts
▼ + stars: | 2024-01-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Read previewThe US housing market is facing historic unaffordability and it's kept countless Americans sidelined or forced to face hefty monthly home payments. This lock-in effect has created a tale of two markets: those who have been crushed by high mortgage rates and those who have mostly gotten by unaffected. Many Americans secured lower mortgage rates during the pandemic. AdvertisementBut in 2023, that dearth of supply for existing homes was a boon for homebuilders — and Wall Street took notice. William BlairFreddie Mac Multi-family Home Serious Delinquency Rate William Blair, Freddie MacUltimately, in 2024 William Blair forecasts supply to improve, mortgage rates to fall, and existing homeowners to return to the market out of necessity.

Persons: —, it's, William Blair, Richard de Chazal, homebuilders, William Blair's, de Chazal, William Blair Freddie Mac, Freddie Mac Organizations: Service, Industry, Business, National Association of Realtors, Federal, Wall, Bloomberg

☆ As world leaders gather for COP28 one question looms - who will pay for the green transition?
▼ + stars: | 2023-12-04 | by ( Jennifer Steinmann | Pradeep Philip | ) www.businessinsider.com time to read: +6 min

The path to financing the world's transition to green energy remains unclear. Financing the green energy transition is a trillion-dollar question. AdvertisementThe Deloitte Financing the Green Energy Transition report outlines some core financial levers, starting with a fundamental financial principle: the riskier the project, the higher the cost of capital. The report estimates that getting this right could ultimately reduce financing costs by around $50 trillion by 2050. So, what are the associated risks, and what steps can we take to mitigate them and, consequently, reduce financing costs?

Persons: Jennifer Steinmann, Pradeep Philip Organizations: Service, Deloitte Global Sustainability, Economics Locations: Dubai

When the water taps run, she says, "I have to choose between taking a shower or preserving my water supply.'' The water taps determine the rhythm of life in Mayotte, an island territory of about 350,000 people northwest of Madagascar. But even without drought, Mayotte's water system wasn’t capable of fulfilling local needs. The local water union blames the water rationing on lack of production capacity, not lack of water. But Mayotte’s water crisis underlines inequalities and often awkward relationships between the central government in Paris and former colonies that remain part of France.

Persons: ”, Philippe Vigier, Ben Issa Ousseni, “, Cyril Castelliti Organizations: European Union, Overseas Affairs, ., Local, Mayotte 1ère, AP Locations: Mayotte, Labatoir, Madagascar, Comoros, Combani, France, Paris, ___

☆ A blistering bull run is underway in the market for uranium
▼ + stars: | 2023-11-09 | by ( Anil Varma | ) www.businessinsider.com time to read: +3 min

Uranium and shares in companies that mine it have enjoyed a scorching rally on soaring demand. Nuclear energy is back in fashion as more reactors are planned amid a shift away from fossil fuels. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A blistering bull run is underway in the market for uranium, the radioactive element used to produce nuclear energy. The widening demand-supply gap will continue to drive uranium prices higher, according to John Ciampaglia, CEO of Sprott Asset Management, which specializes in precious metals and real assets.

Persons: —, John Ciampaglia, Ciampaglia, Rohan Reddy Organizations: Service, Uranium Miners, Crux, Sprott Asset Management, CNBC, Global Locations: China, India, Russia, Japan

☆ Native American populations are ‘invisible’ to banks. That needs to change
▼ + stars: | 2023-10-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +13 min

Before the Bell: What do investors need to know about investing in Native American and Alaskan Native communities? Dawson Her Many Horses: Native American and Alaskan Native communities are more than an ethnic group or racial category. The National League Gaming Commission, which is the regulator for Native American casinos, publishes a yearly report on gross gaming revenues for casinos. When you look at some of the research that gets done, Native American and Alaskan Native households are almost always the most underbanked. People like to focus on what I call the ‘poverty porn’ aspects of Native American and Alaskan Native communities.

Persons: Dawson, “, “ I’ve, ”, Bell, Banks, Wells, That’s, we’ve, Wells Fargo, they’re, Danielle Wiener, Bronner, Kit Kat, ” Hershey, Michele Buck, It’s, Dan Sadler, Covid shutdowns Organizations: CNN Business, Bell, New York CNN, CNN, Wells, Rosebud Sioux, The National League Gaming Commission, Bank of America, Federal, American Finance, Silicon Valley Bank, Hershey, Consumers, Dow, Federal Reserve, Apple Locations: New York, Rosebud, South Dakota, Wells Fargo, United States, Federal Government, Silicon, New York City, Alaska, Oklahoma, confections

☆ There are 2 signs that stock market euphoria is mirroring past bubbles and could end badly for investors
▼ + stars: | 2023-10-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market is going through a "euphoria" episode that will end badly, according to Smead Capital. Other commentators have warned of market downside as interest rates stay higher for longer. AdvertisementAdvertisementThe stock market is going through a "euphoria" that could end badly for equity investors, according to investment advisor Smead Capital. "In our conversations with investors, we are pointing out the 'totality' of this financial euphoria episode. Other Wall Street commentators have warned of more downside ahead for equities as interest rates stay higher-f0r-longer.

Persons: —, Smead Organizations: Smead Capital, Service, Smead, South Seas Locations: Amsterdam

☆ Vans, North Face owner VF Corp shares jump after activist investor builds stake
▼ + stars: | 2023-10-17 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Activist investment firm Engaged Capital has taken a stake in VF Corp. , owner of Vans and The North Face brands, and is pushing for cost cuts and changes to the board. Shares of VF Corp jumped roughly 14% following the news, trading at over $18. Engaged said shares of VF Corp. could jump to a share price of $46 within three years if proposed changes are implemented. It is unclear exactly how much of a stake Engaged has taken in VF Corp. VF Corp. said it is aware of Engaged's comments and investment.

Persons: Steve Rendle, Rendle, Rendle's, Bracken Darrell, Mr, Darrell Organizations: Face Inc, VF Corp, Vans, Corp Locations: Easton, Columbus , Ohio, Vans

☆ HS2: Britain's high-speed rail fiasco reflects grim economic reality
▼ + stars: | 2023-10-05 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

“Our plan will drive far more growth and opportunity here in the north than a faster train to London ever would,” he said Wednesday. Some of the alternatives Sunak highlighted were predicated on the delivery of HS2, said Henrietta Bailey, CEO of Greater Birmingham Chambers of Commerce. “This is the biggest and most damaging U-turn in the history of UK infrastructure,” the High Speed Rail Group, which represents companies such as Siemens, Hitachi and Bombardier, said in a statement. “The decision … sends a hugely disappointing message about our commitment to completing major infrastructure projects in the UK,” said Stephen Phipson, chief executive of Make UK, which represents manufacturing firms. The country must hope that his latest policy reversal doesn’t deter investors and further undermine a struggling UK economy, perpetuating a doom-loop of weak growth and underinvestment.

Persons: Rishi Sunak, Sunak, ”, Henrietta Bailey, Stephen Phipson, Mark Allen, ” Sunak, —, Liz Truss, he’s, Sunak blinked, James Mason, ” — Hanna Ziady Organizations: London CNN —, Leeds, Birmingham Chambers of Commerce, HS2 —, Conservative, Speed Rail Group, Siemens, Hitachi, Bombardier, Make, Investors, Treasury, Business Locations: England, United Kingdom, London, Germany, France, Italy, China, Japan, Edinburgh, Birmingham, Manchester, Britain, West, North Yorkshire

He suggested the more immediate reason for the unrest was less long-time grievances related to the Palestinian national cause and more Gaza's economic misery. "The protests are about money," said the Israeli official, speaking on condition of anonymity due to the topic's sensitivity. FRAGILE CEASEFIREA recent International Monetary Fund report said that for any stable long-term economic recovery in Gaza, "lifting of the blockade and easing of the Israeli-imposed restrictions are essential". With an official unemployment rate in Gaza of over 46%, Hamas itself has faced rumbling discontent over its economic management although for its part, the movement blames the Israeli blockade for the enclave's economic woes. Last month, Israel imposed a brief blockade on exports from Gaza after inspectors said they uncovered an attempt to smuggle explosives into the West Bank.

Persons: Gaza's, Al, Bassem Naim, Bilal Al, Najar, Bashir Al, Nidal al, James Mackenzie, Mark Heinrich Our Organizations: Hamas, West Bank, Monetary Fund, Unipal Company, Thomson Locations: Israel, GAZA, Gaza, Al Aqsa, Egypt, Jerusalem, Lod, Gaza's

☆ Investors like the high dividends and buybacks energy companies offer, but debt is starting to rise again
▼ + stars: | 2023-10-03 | by ( Brian Evans | ) www.cnbc.com time to read: +10 min

If oil prices stay high — and especially, if they breach $100 a barrel — the companies are well positioned. However, should oil prices fall and debt levels continue to rise, some companies have boxed themselves into a corner with very generous dividends and share repurchase programs. At the same time, operating cash flow has been declining. "What we're looking at is companies trying to bridge a little gap while operating cash flow is going down," said Mark Young, senior analyst at Evaluate Energy. "Since the end of 2020, operating cash flow has been able to cover all capital spending, dividend payments and share buybacks by itself.

Persons: Mark Young, Young, Conoco Phillips, Noah Barrett, Warren, Barrett, We're, Matt Smith, Smith, Jason Mountford, Brent, Goldman Sachs, Mike Wirth, Mountford, unprofitably, there's, that's Organizations: Energy, CNBC, Civitas Resources, Chevron, Exxon Mobil, Janus, Federal, Warren Pies, 3Fourteen Research, Investors, Conocophillips, Devon Energy, Exxon, Organization of Petroleum, Kplgr, Bank of America, Citigroup Locations: U.S, Wall, Saudi Arabia, Russia, Chevron

Search resuls for: "underinvestment"

25 mentions found