DIRS.INFO The most relevant business & tech news

Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in Tokyo, Japan October 4, 2023. REUTERS/Issei Kato/File photo Acquire Licensing RightsOct 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets on Monday will also give their initial reaction to news over the weekend of an expected U.S.-Sino summit between presidents Joe Biden and Xi Jinping next month. But the MSCI emerging market index and Asia ex-Japan index's falls of around 0.6% last week were notably shallower than the MSCI Work index's 2% slide. China's recent economic and market signals, at least, are brightening a little.

Persons: Issei Kato, Jamie McGeever, Joe Biden, Xi Jinping, Japan index's, Bond, JGBs, Diane Craft Organizations: U.S, REUTERS, Tech, Investors, Tuesday's Bank of Japan, Bank of, Thomson, Reuters Locations: Tokyo, Japan, Malaysia, Asia, South Korea, Indonesia, Vietnam, Taiwan, Hong Kong, U.S, Australia, Bank of Japan, Germany

☆ They went hunting for fossil fuels. What they found could help save the world
▼ + stars: | 2023-10-29 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

“This was not a real surprise for us,” Pironon told CNN; it’s common to find small amounts near the surface of a borehole. Arguably, the catalyst for the current interest in white hydrogen can be traced to this West African country. White hydrogen deposits have been found throughout the world, including in the US, eastern Europe, Russia, Australia, Oman, as well as France and Mali. “Natural hydrogen is a solution which will allow us to get get to speed” on climate action, he said. Natural Hydrogen Energy LLCFrom hype to realityThe challenge for these businesses and for scientists will be translating hypothetical promise into a commercial reality.

Persons: Jacques Pironon, Phillipe De Donato, ” Pironon, Pironon, “ Gray, ’ ”, Geoffrey Ellis, “, ”, Ellis, Isabelle Moretti, Neil McDonald, Bill Gates, geochemist Viacheslav, ” Zgonnik, ” Ellis, that’s, De Donato’s, – Organizations: CNN, National, of Scientific Research, US Geological Survey, University of Pau, University of Sorbonne, Geologists, Energy Ventures, Natural Hydrogen Energy, Hydrogen Energy Locations: France, Lorraine, Mali, Bourakébougou, University of Pau et, l’Adour, Europe, Russia, Australia, Oman, Yorke, South Australia, Denver, Nebraska, Kansas

(AP) — An Indiana Moms for Liberty chapter has followed the conservative group’s national playbook, challenging diversity, equity and inclusion efforts in school districts as part of its “parental rights” mission. Democratic candidate and Carmel city councilman Miles Nelson asked his opponent on stage earlier this month to denounce the local Moms for Liberty chapter. The local chapter is relatively new, but its June newsletter attracted wide condemnation after quoting Hitler on its front cover. “It’s a clear example of how opposition to Moms for Liberty can galvanize people to vote against conservative candidates,” Valant said. Shaw, a former teacher, said she is concerned about the Moms for Liberty chapter's influence in the county.

Persons: Adolf Hitler, Miles Nelson, Sue Finkam, Nelson, Joe Biden, Donald Trump, Trump, Hitler, ”, Finkam, ” Finkam, Kory Wood, “, ” Wood, “ Sue, ” Paige Miller, ” Miller, ” Nelson, ” Jon Valant, ” Valant, Valant, Diane Shaw, Shaw, David Shaw, ” David Shaw, “ I’ll Organizations: Indiana, Liberty, Democratic, Associated Press, Southern Poverty Law Center, Brookings Institution, Indianapolis Star, Carmel, Liberty Hamilton County, Mayor, Brown Center, Education Locations: CARMEL, Ind, Carmel , Indiana, Carmel, Indianapolis, Hamilton, ” Florida, U.S, Philadelphia, Hamilton County, Nazi, United States of America, Chicago

But for companies like Soergel Orchards in western Pennsylvania, a slowdown is nowhere in sight. “People love to pick — people will pick anything.”Sales are up even though a string of rainy weekends have held back attendance at the farm’s annual fall festival. And the owners are bracing for a strong season in their store selling Christmas decorations. Consumer demand has unexpectedly boomed in 2023, defying widespread expectations for a slowdown and helping to fuel strong overall growth. The economy expanded at an eye-popping 4.9 percent annual rate in the third quarter, far faster than the roughly 2 percent pace officials at the Fed think of as its standard growth pace.

Persons: ”, Amy Soergel Organizations: Federal Reserve, Consumer Locations: Pennsylvania

☆ Thai policy rate is right for now, Mideast war is a concern - c.bank chief
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The central bank's growth forecast of 4.4% for 2024 will be revised if there is any change in the government's stimulus plan, he added. Sethaput said the Bank of Thailand is concerned about the fallout from the conflict in the Middle East. "A new factor that I'm quite wary about is Middle East problems as evaluating the impact of this risk is very difficult," he said, but added that the current policy rate is appropriate. The rate has been raised by a total of 200 basis points since August last year to rein in elevated inflation. ($1 = 36.11 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sethaput Suthiwartnarueput, Sethaput, Orathai Sriring, Kitiphong, Shri Navaratnam Organizations: Bank of, Bank, Thomson Locations: BANGKOK, Bank of Thailand, outflows

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. Underlying inflation picked up last month, largely driven by housing costs, a U.S. Commerce Department report showed. The Dow Jones Industrial Average (.DJI) fell 1.12%, the S&P 500 (.SPX) lost 0.48% and the Nasdaq Composite (.IXIC) added 0.38%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed about 1% higher after hitting a fresh 11-month low on Thursday. The yen hit a new one-year low of 150.77 per dollar overnight and was last at 149.59 .

Persons: Brendan McDermid, Jeffrey Roach, Jay Powell, Christine Lagarde, Brent, Lawrence Delevingne, Naomi Rovnick, Stella Qiu, Richard Chang, Alexander Smith, Sandra Maler Organizations: New York Stock Exchange, REUTERS, Global, U.S . Commerce Department, Federal, LPL Financial, Dow Jones, Nasdaq, Intel, Chevron, European Central Bank, Sanofi, . Treasury, Bank of America, ECB, Thomson Locations: New York City, U.S, Charlotte , North Carolina, Asia, Pacific, Japan, Gaza, Boston, London, Sydney

☆ I inherited my dad's house at 33 after he died unexpectedly. The guilt and embarrassment of suddenly having money was painful.
▼ + stars: | 2023-10-28 | by ( Gary Nunn | ) www.businessinsider.com time to read: +7 min

My sister and I inherited his house and sold it to put deposits down on our own apartments. We knew we'd inherit the house and his possessions; he'd told us we were the only people in his will. We had two weeks to put our dad's house on the market, clear out 40 years of memories, and decide what to do with all his possessions. AdvertisementAdvertisementIt took me a long time to accept the inheritanceI was almost embarrassed by suddenly having money. AdvertisementAdvertisementThe money didn't feel like mine and neither, to a certain extent, did the flat.

Persons: —, Dad, he'd, everything's, We'd, We've, hadn't, should've, I'd, I'm, sharer, I've, wouldn't, didn't Organizations: Service Locations: Australia

☆ Dollar eyes weekly gain as U.S. economy stays robust
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar was headed for a weekly gain on Friday, aided by solid U.S. growth figures that bolstered the case for higher-for-longer interest rates, while the yen hovered on the weaker side of 150 per dollar ahead of a key policy meeting next week. That added to bets the Federal Reserve is likely to keep monetary conditions restrictive for longer, driving the dollar broadly higher against a basket of currencies. The U.S. dollar index steadied at 106.57, having hit a three-week high of 106.89 in the previous session, and was on track for a weekly gain of about 0.4%. Sterling edged 0.07% higher to $1.21355, though was not too far from a three-week low of $1.2070 hit on Thursday. The European Central Bank, or ECB, on Thursday left interest rates unchanged as expected, ending an unprecedented streak of 10 consecutive rate hikes.

Persons: Lint, PMIs, Julien Lafargue, Tony Sycamore, we've, we're Organizations: Federal Reserve, U.S, European Central Bank, ECB, Barclays Private Bank, Analysts, IG, Treasury, Bank of Japan Locations: U.S, Asia, Gaza, Tokyo

NEW YORK (AP) — Cruise, the autonomous vehicle unit owned by General Motors, is suspending driverless operations nationwide days after regulators in California found that its driverless cars posed a danger to public safety. The choice to suspend its driverless services isn't related to any new on-road incidents, Cruise added. The pedestrian became pinned under a tire of the Cruise vehicle after it came to a stop. Three rear-end collisions that reportedly took place after Cruise AVs braked hard kicked off the investigation. “We welcome NHTSA’s questions related to our safety record and operations," Cruise spokesperson Hannah Lindow said in a statement sent to The Associated Press Friday.

Persons: — Cruise, Cruise, ” Cruise, Cruise’s robotaxis, robotaxi, Cruise's, Cruise AVs, Hannah Lindow Organizations: General Motors, California Department of Motor Vehicles, Cruise, General Motors Co, Detroit, California Department of Motor, Traffic Safety Administration, Associated Locations: California, San Francisco, Cruise, Los Angeles, Phoenix, Austin

☆ Li Keqiang: China’s former Premier dead at 68 according to state media
▼ + stars: | 2023-10-27 | by ( Simone Mccarthy | Steven Jiang | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Former Chinese Premier Li Keqiang, once seen as a reform-minded contender to the country’s top leadership role, died of a sudden heart attack early Friday in Shanghai, state media reported. 2 leader until late last year, served as the country’s premier – traditionally in charge of the economy – for a decade from 2013 to March this year under strongman leader Xi Jinping. Under Hu, Li was named to the party’s top central leadership body the Politburo Standing Committee in 2007. Then 67, Li was one year short of the unofficial retirement age for senior Chinese Communist Party leaders. He was succeeded as premier earlier this year by former Shanghai party chief and Xi loyalist Li Qiang.

Persons: Hong Kong CNN —, Li Keqiang, Li, Xi Jinping, ” Li, “, Xi, Xi’s, Hu Jintao, Hu, nodded, Mao Zedong, China’s princelings, Li Qiang Organizations: Hong Kong CNN, Hong Kong CNN — Former, Peking University, Communist Party’s Youth League, Communist Party Congress, Dongling, Brigade, Communist Youth League Central Committee, Communist Party, party’s, Chinese Communist Party Locations: Hong Kong, Shanghai, United States, China, Liaoning, Henan, Anhui

☆ Dollar eyes weekly gain as US economy stays robust
▼ + stars: | 2023-10-27 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. That added to bets the Federal Reserve is likely to keep monetary conditions restrictive for longer, driving the dollar broadly higher against a basket of currencies. The U.S. dollar index steadied at 106.57, having hit a three-week high of 106.89 in the previous session, and was on track for a weekly gain of about 0.4%. The European Central Bank (ECB) on Thursday left interest rates unchanged as expected, ending an unprecedented streak of 10 consecutive rate hikes. The yen last stood at 150.38 per dollar, languishing near the previous session's one-year trough of 150.78.

Persons: Dado Ruvic, Lint, PMIs, Julien Lafargue, Tony Sycamore, we've, we're, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal Reserve, U.S, European Central Bank, ECB, Barclays Private Bank, Analysts, IG, Treasury, Bank of Japan, Thomson Locations: Rights SINGAPORE, U.S, Asia, Gaza, Tokyo

☆ Investors deliver harshest punishment for earnings warnings in 16 years
▼ + stars: | 2023-10-27 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

Barclays (BARC.L), a big UK lender, fell as much as 8% after signalling major cost cuts because of weakness on its home turf. Mark Denham, head of European equities at Carmignac, said high quality companies with high valuations tend to be very vulnerable if they miss earnings. According to Kasper Elmgreen, CIO at Nordea Asset Management, the fact that the economy is now starting to slow is one factor behind investors' harsh treatment of earnings disappointments. Amid the volatility, some investors see a buying opportunity in overly punished stocks. It is an example of a highly valued stock being extra punished for the environment," Denham said.

Persons: Morgan Stanley, Angelo Meda, Mark Denham, Denham, Kasper Elmgreen, Elmgreen, Fabio Di Giansante, Carmignac's Denham, Danilo Masoni, Alun John, Joice Alves, Amanda Cooper, Hugh Lawson Organizations: Sanofi, Barclays, Banor SIM, Siemens Energy, Volkswagen, Volvo, Asset Management, Euroland Equity, pharma, Thomson Locations: Milan, Swiss, London

☆ Inflation to dog world economy next year, postponing rate cuts: Reuters poll
▼ + stars: | 2023-10-27 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Despite broad success in bringing inflation down from its highs - the easier bit - prices are still rising faster than most central banks would prefer and hitting their inflation targets is likely to be tough. The Reserve Bank of New Zealand, which often leads the interest rate cycle, was also forecast to wait until July-September 2024 before cutting. The majority backing no cuts until the second half of 2024 has also grown stronger for the Reserve Bank of Australia, Bank Indonesia and the Reserve Bank of India. Even the Bank of Japan, the outlier sticking to ultra-loose policy through this entire round of inflation, is now expected to abandon negative interest rates next year. Crucially, most economists agree the first easing steps will not be the beginning of a rapid series of cuts.

Persons: Sarah Silbiger, Christine Lagarde, Douglas Porter, it's, Nathan Sheets, Hari Kishan, Ross Finley, Tomasz Janowski Organizations: El Progreso Market, Washington , D.C, REUTERS, Reuters, U.S . Federal Reserve, European Central Bank, ECB, Fed, BMO, Reserve Bank of New, Reserve Bank of Australia, Bank, Reserve Bank of India, Bank of Japan, Citi, Thomson Locations: Mount Pleasant, Washington ,, BENGALURU, Reserve Bank of New Zealand, Bank Indonesia, Bengaluru, Buenos Aires, Cairo, Istanbul, Johannesburg, London, Shanghai, Tokyo

☆ ‘The Reformatory’ Turns the Lingering Impact of Racism Into Literal Ghosts
▼ + stars: | 2023-10-27 | by ( Randy Boyagoda | ) www.nytimes.com time to read: +3 min

As an incentive, he promises Robert an early release if he succeeds in capturing them. Ghost-catching proves easier, at least initially, than the daily grind confronted by Robert’s school friends and foes, all of whom have their own tragic back stories. “You’re not the only one in trouble,” the ghost of a slaughtered young Black man reminds him. This concentrated attention sharpens the suspense; we’re tightly focused on the questions: Will Robert survive, and if so, what will it take? His transformation tracks the novel’s own capacity to be, at once, a supernatural historical novel and a straight-up page-turner.

Persons: Boone, Robert, ”, Haddock, “ You’re, Octavia E, Butler, Robert Stephens, “, Will Robert Organizations: Dozier School for Boys Locations: Marianna, Fla

☆ New House speaker Mike Johnson knocks Biden's 'cognitive decline' but can't remember all the times he attacked LGBTQ relationships
▼ + stars: | 2023-10-27 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

In the same interview, Johnson said couldn't remember a number of comments attacking LGBTQ Americans. AdvertisementAdvertisementHouse Speaker Mike Johnson on Thursday night agreed with Fox News host Sean Hannity that President Joe Biden is showing a "cognitive decline." Johnson, who is an evangelical Christian, worked to thwart same-sex marriage and served in leadership roles with the Southern Baptist Convention. Asked about the comments, Johnson, perhaps conveniently, forgot years' worth of statements. The House speaker said that now views the issue of same-sex marriage as settled after the Supreme Court's landmark ruling in Obergefell v. Hodges.

Persons: Mike Johnson, Biden, Johnson, Sean Hannity, couldn't, —, Joe Biden, Hannity, chatted, Hodges Organizations: Fox News, Service, Louisiana Republican, Southern Baptist Convention, CNN, White Locations: Louisiana, Obergefell

HONG KONG (AP) — Asian shares advanced Friday after the latest tumble on Wall Street, where the S&P 500 fell to its lowest level in five months. But investors are more concerned about what will happen rather than what has passed, and worry that a solid economy could continue to push prices higher. That could push the Fed to keep rates high for a long time to curb inflation. Higher interest rates could mean eventual weakness for the economy and corporate profits. And high bond yields make investors less willing to pay high prices for stocks and other investments.

Persons: Australia’s, Taiex, haven’t, Wall, Brent Organizations: Nikkei, Statistics, Big Tech, Nasdaq, Dow Jones, Facebook, Treasury, Federal Reserve, New York Mercantile Exchange Locations: HONG KONG, Gaza, Tokyo, Hong Kong, Shanghai, Seoul, Israel, U.S

WASHINGTON (AP) — Democratic Rep. Jamaal Bowman pleaded guilty Thursday to a misdemeanor count for triggering a fire alarm as lawmakers scrambled to pass a funding bill before a government shutdown deadline. The alarm forced the evacuation of a House office building for over an hour on Sept. 30. The funding package was ultimately approved with most Republicans and almost all Democrats, including Bowman, supporting the bill. “I really regret that this caused so much confusion and that people had to evacuate, and I just caused a disturbance. Republicans have criticized Bowman, calling his explanation an “excuse" and pointing out he passed several police officers without telling them he had pulled the alarm.

Persons: Jamaal Bowman, Bowman, “, ” Bowman, He's Organizations: WASHINGTON, — Democratic, New, Democrats, Republicans, District of Columbia, Capitol

The data reinforces expectations the Bank of Japan (BOJ) will revise up its inflation forecasts when it produces fresh quarterly projections at next week's policy meeting. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.7% in October from a year earlier, government data showed on Friday, exceeding market forecasts for a 2.5% gain. The so-called "core core" index that strips away both fresh food and fuel prices - closely watched by the BOJ as a gauge of broader price trends - rose 3.8% in October from a year earlier after a 3.9% increase in September, the data showed. "With services inflation continuing to accelerate, it will take a long time before inflation falls back below the BOJ's 2% target." The BOJ remains a global dovish outlier, having maintained ultra-loose policy even as major central banks elsewhere raised interest rates aggressively to fight rampant inflation.

Persons: Androniki, Marcel Thieliant, Takahiko Wada, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Bank of Japan, Reuters Graphics, Capital Economics, Reuters, Thomson Locations: Tokyo, Japan, TOKYO, Asia

Total generation increased by almost 63 billion kilowatt-hours (kWh) (9%) compared with the same month a year earlier, according to the National Bureau of Statistics. Most of the increase was supplied by hydro-electric generation (+40 billion kWh) as the massive new Baihetan Dam on the Jinsha River compensated for poor rainfall. The rest came from thermal generators (+13 billion kWh), solar (+4 billion kWh), wind (+2 billion kWh) and nuclear generators (+2 billion kWh). Prolonged drought across southern China since mid-2022 has depressed hydro generation, requiring more thermal output to fill the gap, almost all from coal. RENEWABLE ROLLOUTChina is investing heavily in renewable generation to curb greenhouse gas emissions as well as reduce dependence on imported oil and gas.

Persons: Jason Lee, Gorges, John Kemp, Rod Nickel Organizations: Grid Corporation of, REUTERS, National Bureau of Statistics, National Energy Administration, Thomson, Reuters Locations: Grid Corporation of China, Zhangjiakou, Hebei province, China, Chartbook, India

WASHINGTON (AP) — A low-key lawmaker in Congress for less than a decade, new House Speaker Mike Johnson isn’t recognizable to most Americans. But the social conservative and devoted ally of former President Donald Trump has been a quiet force within the Republican conference he now unexpectedly leads. “A friend to all and an enemy to none,” Republican conference chairwoman Elise Stefanik said when nominating Johnson ahead of the speaker vote Wednesday. A constitutional lawyer and former member of the Louisiana state House, Johnson was first elected to the U.S. House in 2016. Among the more conservative members of the GOP conference, Johnson has consistently opposed a woman’s right to abortion — “we will get the number of abortions to ZERO!

Persons: Mike Johnson, Donald Trump, Kevin McCarthy, “, Elise Stefanik, Johnson, ” Johnson, Newt Gingrich, —, Trump’s, Jim Jordan, Trump, ”, Doug Collins, Collins, Mike, ” Collins, Biden, Virginia Foxx, Hakeem Jeffries, Matt Gaetz, McCarthy’s, I’ve, ” Gaetz, ” McCarthy, Mario Diaz Balart, Jordan’s, Thomas Massie, Kevin Freking, Stephen Groves, Lisa Mascaro, Farnoush Amiri, Jill Colvin, Matthew Daly Organizations: WASHINGTON, Republican, Louisiana Republican, GOP, U.S . House, Twitter, Committee, Trump, ” Former Georgia, Capitol, North Carolina Rep, Democratic, Florida, Associated Press Locations: Louisiana, Israel, Georgia

☆ Fact Check: Miscaptioned video of Kim Jong Un does not mention Biden or Israel-Hamas war
▼ + stars: | 2023-10-25 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

The clip shows Kim speaking at a military parade in 2020, but he did not discuss the Israel-Hamas or Russia-Ukraine wars, nor mention Biden or former President Trump, according to a transcript of the speech. “I’m afraid that if the Biden admin does not cease to exist in the next election, World War 3 may begin. I support Donald Trump for President in 2024. An English transcript of the full speech, published by the National Committee on North Korea, a U.S. non-governmental organization, does not include the terms “Biden,” “Trump,” “Israel,” “Palestine,” “Russia” or “Ukraine.”VERDICTFalse. A video with fabricated subtitles falsely claims to show Kim Jong Un criticizing Joe Biden and expressing support for Donald Trump ahead of the 2024 U.S. presidential election.

Persons: Kim Jong, Joe Biden, Republican Donald Trump, Kim, Biden, Trump, “, Donald Trump, ” “ Trump, ”, Kim Jong Un, Read Organizations: North, U.S, Republican, Reuters, People's Army, Workers ' Party of Korea, National Committee, Thomson Locations: Israel, Russia, Ukraine, Palestine, North Korea, U.S, ”

☆ Get Ready for a Short-Lived Economic Boom
▼ + stars: | 2023-10-24 | by ( Stephen Miran | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Dan Henninger, Mary O’Grady and Kim Strassel. Images: Reuters/AFP/Getty Images/Bloomberg News Composite: Mark KellyThe Bureau of Economic Analysis will release its third-quarter economic-growth estimate Thursday, and expectations are stratospheric. The Atlanta Federal Reserve suggests gross domestic product might have grown at an annual rate of more than 5%. The answer lies in the unexpected loosening of fiscal and monetary policy in 2023. After taking account of the Biden administration’s unsuccessful attempt to forgive student loans, the deficit unexpectedly doubled this year to about $2 trillion, according to the Congressional Budget Office.

Persons: Dan Henninger, Mary O’Grady, Kim Strassel, Mark Kelly The, Biden Organizations: AFP, Getty, Bloomberg, Atlanta Federal Reserve, Congressional

☆ China sacked its defense minister with no explanation months after he mysteriously disappeared
▼ + stars: | 2023-10-24 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

China has dismissed defense minister General Li Shangfu from office. Li hasn't been seen in public in two months and is the second Chinese minister to be ousted this year with no explanation. AdvertisementAdvertisementChina has dismissed its defense minister from office after his bizarre disappearance from public view two months ago. Since being appointed defense minister in March, Li's most notable appearance came just four months ago at a forum in Singapore. Li's departure as the defense minister follows the dismissal of foreign minister Qin Gang from office in July, again with no explanation.

Persons: General Li Shangfu, Li hasn't, Xi, —, shakeups, Li Shangfu, He'd, Li's, Qin Gang, Xi Jinping, Li Organizations: China's Rocket Force, Service, China, New York Times, Chinese Foreign Ministry, People's Liberation Army Rocket Force, People's Liberation Army, Communist Party Locations: China, Singapore, Beijing

☆ At unicorn startup Carta, a culture of absolute fealty to an erratic and vindictive CEO, employees say
▼ + stars: | 2023-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +17 min

Both men remained valued employees at Carta, with the sales representative even getting promoted just weeks after the alleged "helicopter penis" incident, according to former employees. CEO Henry Ward cofounded Carta, originally called eShares, in 2012 as a service for startups to digitize their paper stock certificates. Today Carta helps startups track their investors, employees manage their equity awards, and venture capitalists administer their funds. The lawsuit says that 10 days after Rogers filed her complaint, Ward "began treating Ms. Rogers in an aggressive and demeaning manner during several meetings." Many of the employees who have spoken out publicly about Carta and Ward have found themselves embroiled in expensive legal battles.

Persons: Lisa Whittaker, Whittaker, Jerry Talton, David Kim, Andrea Lamari, Kim, Henry Ward, Andreessen Horowitz, Ward, Henry, Alex Kurland, Carta, Peter Thiel, Simon Cowell, Talton's, Suzanne Elovic, Elovic, Lamari, Jeff Perry, Perry, salespeople, JT Goodman, Goodman, Goodman didn't, Jeff Perrry, Allie Rogers, Rogers, Rodgers, Rachel Mayes, Ward doesn't, Mayes, Jeff, Jeff Perry countersued, Orrick Herrington, Sutcliffe, Kleiner Perkins, Ellen Pao, Amanda Sheets, Sheets, Pushback, Lindauer, Whitaker, Whittaker wasn't, Barbara Byrne, Byrne, Talton, Joe Osnoss, Osnoss, Heidi Johnson, Johnson Organizations: Carta, UBS, Gold Club, Lightspeed, California Civil Rights Department, Meritech, YouTube, Win, York Stock Exchange, San, San Francisco Superior, San Francisco Superior Court, Barclays, Lehman Brothers, Montana Human Rights Bureau Locations: San Francisco, Brazil, Silicon Valley, California, Palo, Iranian, Lindauer, Silver, Montana

☆ Bank of England rate has peaked, to stay at 5.25% through Q2
▼ + stars: | 2023-10-24 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

LONDON, Oct 24 (Reuters) - The Bank of England is likely done with policy tightening and will leave Bank Rate at 5.25% on Nov. 2, according to the vast majority of economists polled by Reuters who did however caution the chance of another increase this year was high. Only 12 economists forecast a quarter point rise to 5.50% at the November Monetary Policy Committee meeting. Inflation was expected to gradually decline across the forecast horizon but it won't reach target until Q2 2025, the poll showed. Around one-third of economists expected the Bank to act earlier. The BoE was forecast to reduce Bank Rate by 50 basis points in the fourth quarter, putting it at 4.50% by year-end.

Persons: James Smith, Elizabeth Martins, BoE Governor Andrew Bailey, BoE, ING's Smith, Jonathan Cable, Prerana Bhat, Sujith Pai, Jonathan Oatis Organizations: Bank of England, Reuters, Bank, ING, MPC, HSBC, United States Federal Reserve, European, Thomson

Search resuls for: "Unexpectedly"

25 mentions found