DIRS.INFO The most relevant business & tech news

☆ Republicans went after BlackRock and sustainable investing in 2022. Meet 12 officials crusading against 'woke capitalism.'
▼ + stars: | 2022-12-28 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +14 min

A group of vocal conservative officials are criticizing aspects of ESG investing. Players in the ESG ecosystem, like S&P Global and BlackRock, the world's largest money manager and an influential proponent of ESG investing, are often the subject of their critiques. Instead, officials often paint large financial firms' ESG strategies as functions of left-leaning agendas. Here are key GOP players who are taking aim at ESG investing. Abbott, who is seeking reelection in November, was early to denouncing ESG investing.

☆ Here's what mattered in hedge funds and asset and wealth management in 2022
▼ + stars: | 2022-12-28 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

To be sure, some big investors like macro hedge funds have been notable exceptions to the market gloom. As we do our own account settling for the year, here is some of our best reporting on the buy-side: hedge funds, asset managers, and wealth management. Tiger, Tiger burning bright. Four years later, the hedge fund, founded by two former Millennium executives, has yet to live up to the lofty expectations for it. Among the money managers benefiting from these political moves are Bank of New York Mellon and Federated Hermes.

☆ The benefits and risks of using a password manager to protect your online identity
▼ + stars: | 2022-12-27 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

But there are some key decisions to make in choosing, and using, a password manager. Most web browsers have some type of password manager, which are convenient and user-friendly. For more robust security and features, security professionals say a dedicated password manager is a better choice. How to choose a strong master passwordMake sure you have a strong master password, one that's not easily guessable. What happens if you lose online accessThe master password is your entry to the password manager.

☆ Elon Musk is surrounded by yes-men, and it's a recipe for disaster: 'The emperor has no clothes, but everybody's too afraid to tell him'
▼ + stars: | 2022-12-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Experts told Insider Elon Musk's close business relationships is a "recipe for disaster." Experts told Insider it's not surprising that the second-richest man in the world would be taken aback by public criticism. Across his companies, Musk also appears to have built up a slew of allies. Similarly, at Twitter, Musk has also brought in some of his personal associates to assist in the transition. 'Speak truth to power'It can be very difficult to "speak truth to power," Nawaz told Insider, saying it's important for CEOs to create "psychologically safe" environments.

☆ The managers of two of the best stock funds of 2022 told us about the 3 highest-conviction names in their portfolios
▼ + stars: | 2022-12-23 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Together, they run two of the highest-returning stock funds of 2022. BNY Mellon fund managers John Bailer and Brian Ferguson have done well at avoiding those sorts of traps. Bailer runs a dividend-focused stock fund that's returned 12% a year for investors over the last decade and earned a four-star rating, according to Morningstar. In a joint interview, Bailer and Ferguson told Insider about a couple of current favorites from across their portfolios. (3) Berkshire Hathaway (BRK.A)Warren Buffett is a legendary value investors himself, of course, and his Berkshire Hathaway conglomerate is a favorite for a lot of investors.

☆ Focusing on fundamentals helped these two BNY Mellon funds outperform in 2022
▼ + stars: | 2022-12-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

John Bailer and Brian Ferguson don't chase growth stocks. And that's an approach that's helped their five- and four-star-rated mutual funds beat this year's market rout. "What I'm talking about is a focus back on fundamentals in the market," said Bailer, a portfolio manager at Newton Investment Management, a subsidiary of BNY Mellon. In nearly two decades, the managers delivered roughly 300 basis points in alpha to investors, Bailer said. "With these high oil prices, good refining margins, they've been able to build a lot of cash," Bailer said.

[1/3] Examples of Japanese yen banknotes are displayed at a media event in Tokyo, Japan, November 21, 2022. Those positions took a hit when Tuesday's Bank of Japan policy shift allowed 10-year yields to almost double to 0.47%. On Wednesday the long end of Japan's yield curve actually rallied, with 30-year yields down 2.5 bps to 1.545%. "The 10-year yield is still very low ... maybe they will invest in the 20-year." In Australia, where Japan is also the largest foreign player in the bond market, 10-year yields are up about 20 bps.

Among the most prolific rulemakers was the European Union, which began to roll out sustainability rules for asset managers as part of a series of dictates aimed at ensuring the bloc hits its climate targets and helps rein in global warming. Regulatory scrutiny also broadened to include investment ratings and the labeling of sustainable investment funds. In the United States, for example, both Goldman Sachs Asset Management and BNY Mellon Investment Adviser were fined over ESG failures. ESG rules will also fast become mandatory rather than optional in 2023 - with the EU expected to push out 200 pages of guidance in January alone to help market participants use its green taxonomy, a list of environmentally friendly activities, and other ESG rules. However, this is only likely to happen in stages from 2023 given there are no global taxonomies or rules on what constitute sustainable investments.

☆ I asked ChatGPT to do my work and write an Insider article for me. It quickly generated an alarmingly convincing article filled with misinformation.
▼ + stars: | 2022-12-19 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +4 min

I asked ChatGPT, a new AI chatbot from OpenAI, to do my work and write a news article. So when I heard about ChatGPT, a language model developed by OpenAI, I was eager to give it a try." Despite its impressive language capabilities, ChatGPT struggled with understanding context and nuance, leading to some awkward and sometimes outright incorrect responses." - ChatGPTI asked ChatGPT to write a headline for this piece. It responded, "Trying ChatGPT for Writing: The Pros and Cons of Using a Language Model for Journalism."

☆ Housing slump to continue but some hopeful signs ahead
▼ + stars: | 2022-12-18 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

While that’s already had a negative impact on the housing market, we’ll get more details this week about how much worse the damage has become. A long list of housing data is on tap. On Tuesday the US Census Bureau will report housing starts and building permits figures for November, followed by Friday’s release of new home sales data for the same month. Housing market was frothy, but not a bubbleOthers in the industry are cautiously optimistic as well. That all amounts to a few good reasons why the housing market could avoid a severe and prolonged slump.

☆ Annoying CAPTCHA is still big for Google and e-commerce in bot battle, and likely to stay that way
▼ + stars: | 2022-12-17 | by ( Barbara Collins | ) www.cnbc.com time to read: +3 min

These are called CAPTCHAs – an acronym standing for "Completely Automated Public Turing test to tell Computers and Humans Apart." Except some cybersecurity experts say in addition to the problem of human user annoyance, there's a problem with the underlying approach to cybersecurity. How machines are becoming more like humansAs a standalone cybersecurity tool, CAPTCHAs can be unreliable because of their partially behavioral-based approach. Bots can be programmed to call out to the human solving farm overseas that decipher the CAPTCHA, all in the timespan of a few seconds. In today's world, CAPTCHAs used without any additional layers of cybersecurity protection are typically not enough for most enterprises, said Sandy Carielli, a principal analyst for Forrester.

☆ After this week’s Fed rate hike, where are mortgage rates headed?
▼ + stars: | 2022-12-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +8 min

Mortgage rates have run up so far and so fast this year that many would-be homebuyers can no longer afford to buy a home. By fall, mortgage rates had more than doubled, eventually topping 7% in October. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “We have to remember mortgage rates come down much slower than they go up,” said Cohn. “Volatility increases the level of mortgage rates, compared to Treasury rates, because of the prepayment option,” said Chester Spatt, professor of finance at Carnegie Mellon University’s Tepper School of Business.

☆ Investors need to be very defensive as market bottom not reached, says strategist
▼ + stars: | 2022-12-16 | 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 EmailInvestors need to be very defensive as market bottom not reached, says strategistWith central banks remaining hawkish and the European economic outlook weak, Lale Akoner, senior market strategist at BNY Mellon, prefers large-cap U.S. equities and long positions in health care, energy and consumer staples.

☆ Meet the megadonors backing the Trump super PAC as some top donors opt out of supporting 2024 candidacy
▼ + stars: | 2022-12-11 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Yet, the latest disclosure, which shows fundraising for the super PAC from Oct. 20 through Nov. 28, also lists nine other individual contributions totaling over $900,000. Wealthy businessman Timothy Mellon contributed $1.5 million to the super PAC on Oct. 5, according to the records. This small group of megadonors arrived in support of the super PAC just prior to other influential financiers deciding they will not back Trump's 2024 candidacy for president. During Trump's first run for the White House in 2016, Pate financed the anti-Trump super PAC We The People Foundation. Anthony Lomangino, a recycling mogul, donated $100,000 to the super PAC on Nov. 4.

☆ 'Quick quitting' can help you jump to a better job. But be careful how you do it.
▼ + stars: | 2022-12-10 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +4 min

But career strategists say it's important that short-timers exit with dignity. But can you blame him when he got a better job offer, complete with a remote-work option, an elevated title, and a $30,000 raise plus a sign-on bonus? Robert Kelley, a professor at Carnegie Mellon University's Tepper School of Business, chalked up all this quick quitting to dramatic shifts in how people think about work. But Kelley and others say it's important that short-timers exit with dignity — no need to burn bridges, after all. Kelley advised offering to stay even longer even if it means delaying the start of your next job.

☆ Analysis: U.S. financial conditions have eased. So far the Fed is okay with it
▼ + stars: | 2022-12-09 | by ( Ann Saphir | ) www.reuters.com time to read: +5 min

Fresh projections by Fed policymakers released after next week's meeting are expected to reflect that, along with a forecast for no cuts to the policy rate until 2024. Reuters GraphicsThat could feed into arguments that the economy and labor markets are poised to weaken next year, easing inflation pressures. And those drops came despite the Fed lifting its policy rate by three-quarters-of-a-percentage point, to 3.75%-4% in early November. Meanwhile, unemployment has stayed at a low 3.7%, below where Fed policymakers had thought it would be as tighter policy slowed the economy. Reuters GraphicsPart of the reason the Fed may be more comfortable with easing financial conditions now than in the summer is simply that the Fed has already raised interest rates by nearly 4 percentage points.

Economists said the reading pointed to elevated labor costs and inflation staying high, adding pressure on the Federal Reserve to keep raising rates. "Slower rate hikes have been the trend globally of late, but the Fed remains a wild card. Overall, it's a fickle, anxious market ahead of next week’s Fed meeting," said Joe Manimbo, senior market analyst at Convera in Washington. Many in the market believe inflation is moderating and bond yields have peaked, allowing the Fed and other central banks to begin slowing rate hikes when policy-makers meet next week. Gold prices rose, helped by a retreat in the dollar and Treasury yields, as investors anticipate the projection of slower rate hikes at the Fed's meeting on Dec. 13-14.

☆ Stocks rally sputters as growth fears deepen
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

"We might be transitioning from a situation of worrying about inflation and interest rates, to one where the negatives become weakening growth and falling profits." The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6696 despite Australian third-quarter growth coming in a bit below forecasts. The Canadian dollar hovered at 1.3644 per dollar ahead of an expected rate hike from the Bank of Canada later on Wednesday.

☆ Stocks rally sputters as growth fears resurface
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 7 (Reuters) - Asia's stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China's reopening. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4% and Japan's Nikkei (.N225) fell 0.5%. The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6707 despite Australian third-quarter growth coming in a bit below forecasts.

☆ Markets will be volatile in 2023 as high inflation continues, analyst says
▼ + stars: | 2022-12-06 | 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 EmailMarkets will be volatile in 2023 as high inflation continues, analyst saysSuzanne Hutchins of BNY Mellon says liquidity will continue to tighten.

☆ Watch CNBC’s full interview with Virtus' Joe Terranova, BNY Mellon’s Alicia Levine and CIC Wealth’s Malcolm Ethridge
▼ + stars: | 2022-12-06 | 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 EmailWatch CNBC’s full interview with Virtus' Joe Terranova, BNY Mellon’s Alicia Levine and CIC Wealth’s Malcolm EthridgeVirtus' Joe Terranova, BNY Mellon’s Alicia Levine and CIC Wealth’s Malcolm Ethridge join 'Closing Bell: Overtime' to discuss market outlook after CEOs express recession fears.

☆ Banker bonuses are set to be so bad even the firm's revenue drivers are going to get dinged
▼ + stars: | 2022-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. While they aren't internally announced and paid until early next year, firms are wrapping up discussions about the size of bonus pools that divisions will be able to disperse from. And for many firms, the pools are being resized from Olympic to kiddie. The Financial Times reported Friday that JPMorgan Chase, Citigroup, and Bank of America are considering cutting bonus pools within M&A and IPO teams by 30%. More on how crypto firms are hoping ads can quell trust concerns.

☆ This tax strategy may offset losses – but investors need to act now or be in for a 'nasty surprise'
▼ + stars: | 2022-12-04 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

According to BNY Mellon's Ben Slavin, it's a key time to sell losing investments in order to cut down on capital gains. "Mutual fund investors are in for quite a nasty surprise," the firm's global head of ETFs told CNBC's "ETF Edge" last week. State Street Global Advisors' Matt Bartolini also sees advantages for investors looking to offset tax losses and stay in the market. "You own a mutual fund that tracks the broad base of U.S. equities. Bartolini said investors can also sell broad-based ETFs and buy back into other ones covering a similar marketplace.

☆ Meet 12 Republican officials crusading against BlackRock and ESG investing
▼ + stars: | 2022-12-01 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +14 min

The S&P 500 is down 14.4% year-to-date. U.S. consumer prices rose less than expected in October, supporting the view that inflation was ebbing. Further ahead, some of Wall Street’s biggest banks are now forecasting that the Fed's monetary policy tightening will bring on a recession next year. In options markets, traders appear more preoccupied with not missing out on more gains in stocks than guarding against future declines. The one-month moving average of daily trading in bearish put contracts against bullish calls on the S&P 500 index-tracking SPDR S&P 500 ETF Trust's options is at its lowest since January 2022, according to Trade Alert data.

Search resuls for: "Mellon

25 mentions found