DIRS.INFO The most relevant business & tech news

☆ Who's afraid of Wells Fargo?
▼ + stars: | 2022-12-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Wells Fargo reached a $3.7 billion deal with regulators over the bank’s “widespread mismanagement” that allegedly hit more than 16 million consumer accounts. KEY CONTEXTSadly, all of this echoes earlier reports about Wells Fargo’s practices that have emerged since 2016, when its fake-accounts scandal made national headlines, my colleague Matt Egan writes. Wells Fargo workers ended up creating millions of bank accounts for customers without their knowledge. Chopra described Wells Fargo as a “repeat offender” and a “corporate recidivist,” adding that Tuesday’s fine is just an initial step toward holding the bank accountable. The web of scandals at Wells Fargo is massive, and after six years of fallout, a lot of folks aren’t convinced the bank can save itself.

☆ Analysis: After a day of courtroom bickering and confusion, SBF is coming home
▼ + stars: | 2022-12-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The tl;dr version: It seems that SBF’s US lawyers worked out an agreement with Bahamian prosecutors to drop the extradition fight, which would have taken months, if not years, to play out. But SBF’s local defense lawyer, Roberts, said he wasn’t included in that plan, and claimed prosecutors wouldn’t share the US indictment with him. But then he was denied bail in the Bahamas, meaning he wouldn’t be able to fight extradition from the comfort of his luxury home. After a week of that, SBF is ready to face the music on US soil. To be sure, the federal detention facility in Brooklyn where SBF could end up while awaiting trial isn’t exactly the Ritz.

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

☆ House speaker elections and floor fights, explained
▼ + stars: | 2022-12-15 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Congress can’t really function until it has a House speaker; the position is filled on the first day of a new Congress, January 3, even before members-elect take the oath of office. What’s standing between McCarthy and the speaker of the House position is a handful of conservative lawmakers. This is what people are talking about when they refer to a “floor fight.” It’s when House members require multiple ballots, or votes, to elect their speaker. The process stretched over more than a month and included a sort of inquisition on the House floor of the three contenders. House Speaker Nancy Pelosi was elected with 216 votes in 2021 to kick off the current Congress.

☆ Inflation cooling is good economic news. It might not feel like it
▼ + stars: | 2022-12-14 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Stocks, which had risen on the “inflation is cooling” news Tuesday, were down Wednesday on the “Fed is not convinced” development. GOP leader Kevin McCarthy is trying to find the votes to become speaker, and adding a spending fight to his plate would get messy quickly. But the spending fight loomsNone of the disagreements over spending are going away. Inflation moved the electionThe difference between 7.1% month-over-month inflation and 7.7% inflation in October may not feel like much on the micro level to Americans who are paying 49% more for eggs this year than they were last year. “In the coming decade, they’re going to be fighting hard to get inflation down.”In the meantime, cooling inflation might be praised by policymakers, but it could rub everyone else the wrong way, especially if an economic slowdown starts to feel like a recession.

Doha, Qatar CNN —They’re known as The Atlas Lions, the Moroccan football team that’s ripped up the history books at the FIFA World Cup. Morocco's Youssef En-Nesyri, center, celebrates after scoring the only goal in his side's World Cup quarterfinal win over Portugal, at Al Thumama Stadium in Doha, Qatar, on December 10, 2022. “I think this moment of joy resonates with everyone who is downtrodden.”Morocco’s success has also breathed new life into a once-lost identity, as people from across the Arab world celebrated the team’s victories. “If anything, [the World Cup] has shown the stark contrast between the rulers and the ruled, between the regimes and the publics,” he said. Walid Regragui, Morocco head coach, is thrown in the air after the team qualified for the World Cup knockout stages by beating Canada on December 1.

But for a place that until earlier this month assiduously tracked every case, there is now no clear data on the extent of the virus’ spread. Customers queue at a pharmacy in Beijing, China, on Tuesday, December 13. Authorities on Wednesday morning reported 2,249 symptomatic Covid cases nationally for the previous day, 20% of which were detected in the capital. A closed Covid testing booth in Beijing, China, on Tuesday, December 13. Chinese state media has since warned people the preserved fruit is not a Covid remedy nor a substitute for medicine.

☆ Effort to impeach Alejandro Mayorkas will only complicate the immigration puzzle
▼ + stars: | 2022-12-13 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

They want the incoming Republican-controlled House Judiciary Committee to launch an impeachment investigation of Mayorkas ASAP in early January. While their alleged crimes are very different, any impeachment effort against Mayorkas would likely end similarly: Belknap was acquitted in a Senate trial. Democrats, controlling the Senate majority, would surely do the same if Republicans could even muster the majority needed to impeach Mayorkas. McCarthy would rather just see Mayorkas resign, although there’s no indication Mayorkas will. “If Secretary Mayorkas does not resign, House Republicans will investigate every order, every action and every failure.

☆ Outgoing LA Mayor Eric Garcetti on why his stalled ambassador nomination was a ‘gift’
▼ + stars: | 2022-12-12 | by ( Maeve Reston | ) edition.cnn.com time to read: +10 min

Reston: So, the other half of the equation – as you talked about – is not under your control as the mayor, and that’s the mental health space. Garcetti: This country is experiencing a mental health crisis and addiction crisis. There are not enough professionals who can treat mental health afflictions, and we have no right to mental health care in this country. … Treating trauma and mental health issues is the biggest gap in the American health care system by far. Garcetti: I was working on a musical a long time ago that I thought would be really interesting in LA.

☆ UN agency says Israel is delaying new visas for its staff
▼ + stars: | 2022-12-12 | by ( Hadas Gold | ) edition.cnn.com time to read: +12 min

Jerusalem CNN —A United Nations agency that operates in the West Bank and Gaza says Israel is not processing visas for its newly recruited staff, while Israeli officials accuse the agency of “ignoring Israeli victims of terror” in East Jerusalem and the occupied West Bank, a charge the agency denies. The UN considers East Jerusalem and the West Bank to be occupied territory, and Israelis living there to be living in illegal settlements. Erdan said when OCHA is asked why they don’t count Israeli victims, they are told the agency does not have reliable data. “Of course you don’t, you don’t employ Hebrew speakers, and the senior manager of the agency is Palestinian,” Erdan said. OCHA’s latest report does record some instances of Israelis being injured by stones thrown at civilian vehicles traveling in the West Bank.

☆ Congress has so much to do before Christmas
▼ + stars: | 2022-12-12 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Second, the newly elected Congress will be sworn in on January 3. Everything resets in the new Congress, and lawmakers will have to start from scratch on anything they don’t finish up this month. One major looming question is whether Senate Republicans and Democrats can agree on a bill to fund the government for a full year or whether they have to punt to the next Congress. If the Electoral Count Act can pass, it could be slipped into that massive spending bill. But that’s a very open question, since that massive spending bill has not yet been put together.

Changes continued Monday as authorities announced a deactivation of the “mobile itinerary card” health tracking function planned for the following day. But as the scrapping of parts of the zero-Covid infrastructure come apace, there are questions about how the country’s health system will handle a mass outbreak. Throughout the weekend, some businesses were closed in Beijing, and city streets were largely deserted, as residents either fell ill or feared catching the virus. Covid was “spreading rapidly” driven by highly transmissible Omicron variants in China, a top Covid-19 expert, Zhong Nanshan, said in an interview published by state media Saturday. Authorities recorded 8,626 Covid-19 cases across China on Sunday, down from the previous day’s count of 10,597 and from the high of more than 40,000 daily cases late last month.

☆ Will 'Emancipation' set Will Smith free from 'the slap?'
▼ + stars: | 2022-12-10 | by ( Lisa Respers France | ) edition.cnn.com time to read: +6 min

Three things to watch‘Emancipation’Will Smith (center) in a scene from "Emancipation." Smith has been banned from attending the Oscars for the next decade, but he is still eligible for nominations. ‘Idina Menzel: Which Way to the Stage?’Idina Menzel attends the American Music Awards on November 20, 2016 in Los Angeles. A Boogie wit da Hoodie performs at the Rolling Loud Los Angeles festival on December 15, 2019 in Los Angeles. Something to sip onNick Cannon attends an event at the GRAMMY Museum on June 25 in Los Angeles.

☆ A lost ecosystem revealed in Greenland by oldest environmental DNA
▼ + stars: | 2022-12-10 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

A long time agoAn artist's illustration reconstructs Greenland's unique ecosystem as it existed 2 million years ago. Beth ZaikenScientists in Denmark have found the world’s oldest DNA sequences in sediment from the ice age. The core, taken from northern Greenland, revealed that the polar region was once abundant with plant and animal life 2 million years ago. Mastodons, reindeer, geese, lemmings and hares lived in an ecosystem that was a mix of temperate and Arctic flora and fauna. The fossil includes the head, neck and body together — a rare discovery for the marine reptiles, which didn’t preserve well in one piece.

☆ 5 key takeaways from Xi’s trip to Saudi Arabia
▼ + stars: | 2022-12-10 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +11 min

Here are five key takeaways from Xi’s visit to Saudi Arabia. Saudi Press Agency//ReutersDuring Xi’s visit, Saudi Arabia and China released a nearly 4,000-word joint statement outlining their alignment on a swathe of political issues, and promising deeper cooperation on scores of others. China is the world’s biggest buyer of oil, with Saudi Arabia being its top supplier. China is also keen to cooperate with Saudi Arabia on security and defense, an important field once reserved for the kingdom’s American ally. Saudi Arabia was, however, keen to reject notions of polarization, deeming it unhelpful.

☆ Kyrsten Sinema's Democratic defection without a difference
▼ + stars: | 2022-12-10 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

Specter’s switch from the Republican to the Democratic Party briefly gave Democrats a filibuster-proof majority and allowed them to pass the Affordable Care Act. Joe Lieberman, the moderate Democrat and former longtime senator, lost a Democratic primary in Connecticut in 2006, largely over his support for the Iraq war. A defection without a differenceArizona Sen. Kyrsten Sinema appears to be different as she becomes the 22nd senator to change party affiliation while in office. A Senate independence trioSinema will be the first independent senator who isn’t from New England in more than a generation. The most complete political evolution may be that of Lincoln Chafee, the Rhode Island politician who was a Republican senator, independent governor and failed Democratic and Libertarian presidential candidate.

Harry also recalled explaining that “the difference here is the race element.”In the end, the series offers no massive revelations or bombshells yet. That wasn’t addressed in this first volume from Netflix, so any bombshells the palace fears may still be yet to come. WATCHThe much-anticipated docuseries “Harry & Meghan” offers an intimate look at the lives of the Duke and Duchess of Sussex. Video Ad Feedback Reporter breaks down what's in the 'Harry & Meghan' Netflix series so far 03:06 - Source: CNNKEY TAKEAWAYS FROM THE SUSSEX DOCThe series included photos of the Sussexes in both public and private moments. WHO IS LIZ GARBUS, THE DIRECTOR HARRY AND MEGHAN ENTRUSTED WITH THEIR SERIES?

☆ As Covid cases rise, it's yes to masks, no to mandates
▼ + stars: | 2022-12-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

The current rise in Covid-19 cases is one leg of a triple threat – a “tridemic,” a “tripledemic” or a “trifecta,” as some news organizations are calling it – along with a bad flu season and an RSV outbreak hitting mainly children. People at higher risk of getting sick should wear masks when there is medium spread, such as in Los Angeles County. “You can count masking, vaccines, boosting, testing – all of that is part of the spectrum of protecting yourself and your family,” Fauci said. But if Covid-19 cases were to increase, a little less than two-thirds of Americans, 65%, said they would wear a mask. This will be the conundrum for public health officials if Covid-19 cases continue along with this “tripledemic” – how to get people to wear masks without trying to make them do it.

☆ Xi Jinping: Saudi's MBS rolls out the red carpet for China's president, in a not too subtle message to Biden
▼ + stars: | 2022-12-07 | by ( Tamara Qiblawi | ) edition.cnn.com time to read: +9 min

Saudi leaders will infuse the trip with a dose of spectacle. The Saudi king – or his powerful Crown Prince, Mohammed bin Salman – may bestow the Chinese leader with some honors and medals. Saudi Crown Prince Mohammed bin Salman fist bumps US President Joe Biden upon his arrival at Al Salman Palace, in Jeddah, Saudi Arabia, on July 15. Today, the US consumes only a fraction of that Saudi oil, and China is Saudi Arabia’s biggest client and trading partner. Over the last year, Gulf Arab countries appear to have ramped up their independent-minded policy.

☆ As China moves away from zero-Covid, health experts warn of dark days ahead
▼ + stars: | 2022-12-06 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

Across the country, however, some parts of residential communities and buildings designated high risk by authorities are still locked down. A QR code for Covid-19 contact tracing displayed at the entrance to a subway station in Shanghai, China, on Monday. Top health officials on November 28 announced a new plan to bolster elderly vaccination rates, but such measures will take time, as will other preparations for a surge. Minimizing the worst outcomes in a transition out of zero-Covid depends on that preparation, according to Cowling. From that perspective, he said, “it doesn’t look like it would be a good time to relax the policies.”

☆ Why the world’s top chip maker is doubling down on American manufacturing
▼ + stars: | 2022-12-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That measure invests more than $200 billion to encourage companies to bring chip production back onto American soil. Raising the debt limit, the bank wrote, will be “necessary but hard to achieve.”For the uninitiated: The “debt ceiling” is simply the federal government’s borrowing limit. Senator John Thune told Bloomberg last week the debt ceiling could be a way to push through budget cuts. Goldman Sachs noted that the political environment next year will have “echoes of 1995 and 2011” — the two most tense standoffs over the debt limit in recent history. (OK, most nights — we believe in a four-day work week around here.)

☆ China Covid restrictions: Protesters win a partial victory as cities start to loosen controls
▼ + stars: | 2022-12-05 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

Following protests nationwide, some local Chinese authorities have started to ease Covid restrictions – in what appears to be a shift toward gradual reopening as the country nears entering the fourth year of the pandemic. “I feel like everyone’s hard work is paying off,” said a protester who took part in a demonstration in Beijing. “Policy flip-flop is common.”In some cities, the partial relaxation has caused confusion and chaos on the ground. In Beijing, public venues such as shopping malls and office buildings still require a 48-hour negative Covid test for entry. I don’t celebrate, I just remember those brave friends with gratitude,” a Beijing resident posted on Weibo, in a reference to the protesters.

☆ Welcome to the ‘free-for-all hellscape’ that is Twitter
▼ + stars: | 2022-12-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Despite unprecedented sanctions from the West on various industries, Russia’s war chest has been padded by oil revenue. China and India, among others, are still buying surplus barrels of Russian oil, which has been cheaper ever since Western traders began shunning it. The price cap is designed to be enforced by companies that provide shipping, insurance and other services for Russian oil. Countries like Poland and Estonia wanted a lower price cap, emphasizing that $60 is too close to the current market price for Russian oil. Because of the relatively generous price cap, Russia may continue to find buyers.

☆ See photos from the Apollo era like never before
▼ + stars: | 2022-12-03 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Since then, Saunders has applied his technique to 400 images from the Apollo program. His book of images, “Apollo Remastered,” was published in September. During his 10,000 hours of working on Apollo images, Saunders set himself another task: solving the case of the missing lunar golf ball. Defying gravityAstronaut Alan Shepard served as the commander of NASA's Apollo 14 lunar landing mission. The late NASA astronaut, known for his zest for life, smuggled a custom 6-iron clubhead and some golf balls to the moon during Apollo 14.

☆ Starbucks employee suspended after labeling Black woman’s cup ‘Monkey'
▼ + stars: | 2022-12-01 | by ( Samantha Kubota | ) www.nbcnews.com time to read: +7 min

A Maryland woman is speaking out after a Starbucks barista wrote her name as “Monkey” while taking her order. Monique Pugh told TODAY.com that she has been a loyal Starbucks customer for 20 years. Monique Pugh took a photo of the Starbucks cup, labelled with the word 'Monkey.' A Starbucks corporate representative confirmed the incident occurred and told TODAY.com the employee who took the order had been suspended. Pugh told TODAY.com the whole situation has been “very overwhelming.”“And to have them apologize, but then say it was an honest mistake and a labeling error?

Search resuls for: "Story Ap"

25 mentions found