DIRS.INFO The most relevant business & tech news

Moody's cut the ratings of 10 U.S. banks by one notch and placed some banking giants on review for potential downgrades. The downgraded banks include M&T Bank (MTB.N), Pinnacle Financial Partners (PNFP.O), Prosperity Bank and BOK Financial Corp (BOKF.O). The banks placed on review for downgrade include BNY Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N). Moody's changed its outlook to negative from stable for Capital One (COF.N), Citizens Financial (CFG.N) and Fifth Third Bancorp (FITB.O), among others. The ratings agency also affirmed the ratings of PNC Financial Services Group (PNC.N), Citizens, and Huntington Bancshares (HBAN.O) alongside other banks.

Persons: Moody's, BNY Mellon, Huntington, Juby Babu, Muralikumar Anantharaman Organizations: Moody's Corporation, T Bank, Pinnacle Financial Partners, Prosperity Bank, BOK Financial Corp, BNY, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Citizens, Fifth Third Bancorp, PNC Financial Services, Thomson Locations: Manhattan , New York, U.S, Silicon, Bengaluru

☆ Trump goes on offense against Koch network as it spends against former president
▼ + stars: | 2023-08-07 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

For Trump and Koch, it represents the latest chapter in the on again, off again relationship between the two parties. The theme of the ads is simple: Trump can't win, and with Trump as the Republican nominee, President Joe Biden will be reelected. The ads have landed the Koch network squarely on Trump's list of enemies, literally. "Club for No Growth and Koch Brothers operations spending tens of millions of dollars to prop up Ron DeSantis while attacking President Trump," the July 17 memo claimed. But neither the Koch network nor the Club for Growth has endorsed a Republican primary candidate.

Persons: Donald Trump, Charles Koch, Koch, Joe Biden, George Soros, Paul Ryans, Trump, Ron DeSantis, David Koch, Charles Organizations: Republican, Koch Industries, PAC, Prosperity, Trump, Republican Party, Florida Gov, Koch, Club, Growth Locations: Trump's

☆ Texas A&M board members sought a journalism program that would churn out conservatives to 'direct our message,' according to text messages
▼ + stars: | 2023-08-05 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Texas A&M board members sent text messages about wanting a journalism school that would churn out conservatives. She also previously oversaw the journalism program at the University of Texas, and researched diversity, equity, and inclusion in media, according to The Associated Press. McElroy told The Texas Tribune that Texas A&M rescinded its job offer to her after "DEI hysteria" among Texas university leaders. In the text messages, Graham called McElroy's hiring "unacceptable" and says the board "can't allow it to happen," according to KBTX. And it seems that my being an Aggie, wanting to lead an Aggie program to what I thought would be prosperity, wasn't enough."

Persons: Jay Graham, TAMU, Kathleen McElroy, KBTX, Graham, David Baggett Organizations: Texas, Service, Regents, Aggie, Texas Tribune, KBTX, & $ Locations: Wall, Silicon

☆ You’d have to work five lifetimes to make what your boss makes in one year, report shows
▼ + stars: | 2023-08-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The average CEO compensation among S&P 500 companies last year was $16.7 million — the second-highest level of executive pay ever, according to the group’s annual Executive Paywatch report. (2021 was the highest at $$18.3 million)CEO pay fell last year compared to the previous year, said Brandon Rees, the AFL-CIO’s deputy director of corporations and capital markets. To put that $16.7 million in context: Assuming a 45-year career at an average pay of $75,200, regular employees would need to work more than five lifetimes to make what the average CEO receives in a single year. Meanwhile, US workers’ real hourly wages fell in 2022 for the second year in a row by 1.6% after adjusting for inflation, the executive pay report found. The bot battleAmong the biggest concerns raised in the latest pay report is the way artificial intelligence is poised to benefit executives more than their employees.

Persons: Brandon Rees, ” Rees, ’, ”, Fred Redmond, it’s, Redmond, Duncan Crabtree, “ Organizations: New, New York CNN, AFL, Hollywood, SAG Locations: New York, Ireland

New Zealand's Defence Minister Andrew Little poses for a picture in Wellington, New Zealand, March 30, 2023. Launching the country's first national security strategy, Defence Minister Andrew Little said New Zealand faced more geostrategic challenges than it had in decades. The inaugural security strategy underscores how China's rise is upending old norms and behaviours even 9,000 kilometres (5,592 miles) away in Wellington. Chinese state-sponsored actors had exploited cyber vulnerabilities in ways that undermined New Zealand's security, said another document that did not provide further details. "The changes in the domestic and international security environment mean our response and preparedness must change too," Little said.

Persons: Andrew Little, Lucy Craymer, Little, Kevin Short, Lewis Jackson, Simon Cameron, Moore, Gerry Doyle Organizations: Zealand's, REUTERS, Defence, Zealand, New, Labour, New Zealand Defence Force, Thomson Locations: Wellington , New Zealand, New Zealand, Wellington, China, New, Australia, U.S, Vietnam

☆ Billionaire DeVos family looks to DeSantis, not Trump, in 2024
▼ + stars: | 2023-08-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Octavio Jones | ReutersThe billionaire DeVos family, whose matriarch, Betsy DeVos, served in Donald Trump's Cabinet, appears to be backing a Trump rival in the 2024 Republican presidential contest: Florida Gov. And though the Federal Election Commission filing does not name any member of the DeVos family, the Michigan billionaires own the team. Following publication of this story, Betsy DeVos' chief of staff, Nate Bailey, said she was "undecided and uncommitted on the race for president, as is the entire DeVos family." Leah Millis | ReutersA spokesman for the DeVos family investment firm, RDV, did not respond to requests for comment. But that curriculum is exactly what draws members of the DeVos family to DeSantis.

Persons: Ron DeSantis, Octavio Jones, DeVos, Betsy DeVos, Donald Trump's, wokeness, Joel Glass, Governor DeSantis, Glass, DeSantis, Dick DeVos, Dan DeVos, Nate Bailey, Bailey, Leah Millis, RDV, Jason Miller, Ron DeSanctimonious, Miller, Betsy, Tudor Dixon, Trump, Joe Biden, Mike, Pence, Darius Garland, Schofield Organizations: Florida Gov, Cambridge Christian School, Trump, Republican, DeSantis, NBA, Orlando, CNBC, Governor, Orlando Magic, . Education, Federal Commission, School, White, Washington , D.C, Reuters, Michigan Republican, Trump's, Make, Inc, FEC, Detroit, RDV, Cleveland Cavaliers, National Basketball Association, Getty Locations: Florida, Tampa , Florida, Michigan, Central Florida, Washington ,, Cleveland , Ohio

☆ Trump's $100 million PAC has burned through nearly all of its cash
▼ + stars: | 2023-08-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Trump's Save America PAC raised over $15 million in the first half of 2023, spent over $30 million and now has about $3.6 million on hand, according to Federal Election Commission records. The committee came into 2023 in a strong position, raising over $100 million in 2022 and finishing with $18 million on hand. The super PAC supporting Florida Gov. His own campaign raised around $20 million and went into the third quarter with just over $12 million on hand. The super PAC came into the later stages of the year with $30 million on hand.

Persons: Donald Trump, Donald Trump's, Ron DeSantis, Joe Biden, Trump, he's, Chris Christie, Christie, Charles Koch, Biden Organizations: U.S, Republican, Florida Gov, Trump's Save America PAC, Commission, NBC, Trump PAC, New, New Jersey Gov, CNBC, Trump, FEC, Koch Industries, Prosperity, PAC, Make, Inc Locations: Erie , Pennsylvania, U.S, New Jersey, Florida, Mar

ROCHESTER, New Hampshire, July 31 (Reuters) - U.S. Republican presidential candidate Ron DeSantis took an aggressive swipe at China, railed against what he described as corporate bailouts, and said he would rein in the Federal Reserve in an economic policy speech on Monday. DeSantis was particularly harsh on China and the technology sector which he accused of enriching the East Asian nation to the detriment of Americans. The U.S. Senate voted in 2000 to grant the status to China as it prepared to join the World Trade Organization. "They said if you granted China special trading status and put them in the World Trade Organization, that China would become more democratic," he said. In written bullet points released alongside the speech, DeSantis' campaign said he would appoint a chair of the Federal Reserve "who will focus on maintaining a stable dollar instead of the political pressures of the day."

Persons: Ron DeSantis, DeSantis, we've, Jerome Powell, Gram Slattery, James Oliphant, Rosalba O'Brien Organizations: Republican, Federal Reserve, Republican Party, U.S, Senate, World Trade Organization, Federal, Fed, Thomson Locations: ROCHESTER , New Hampshire, China, New Hampshire, U.S, United States, Rochester, Washington

☆ Dancing Till Dawn on the Albanian Riviera
▼ + stars: | 2023-07-31 | by ( Valeriya Safronova | ) www.nytimes.com time to read: +2 min

The influx of foreign visitors to a place that only a few decades ago was sealed off to the world has brought both prosperity and challenges. “It’s been a 100 percent transformation,” said Erjon Shehaj, 46, whose family opened a 10-table restaurant in Dhermi in 2016. The resort hosted the biggest stage of the festival and was booked solid all seven days. In Dhermi, the electricity or water was sometimes turned off at hotels without warning, and bathrooms in restaurants and bars were left uncleaned for long stretches. The flood of visitors is also raising fears about possible harm to the region’s flora and fauna.

Persons: “ It’s, ”, Erjon Shehaj, “ I’ve, Anisa Koteci Organizations: Kala Locations: Drymades, Dhermi, Albania, London, Vlore

☆ EU ready to strengthen maritime security cooperation with the Philippines
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

[1/4] Philippine President Ferdinand Marcos Jr., claps beside European Commission President Ursula von der Leyen, after signing ceremonies at the Malacanang Presidential Palace in Manila, Philippines, July 31, 2023.Aaron Favila/POOL via REUTERSMANILA, July 31 (Reuters) - The European Union is ready to strengthen cooperation with the Philippines on maritime security, European Commission President Ursula von der Leyen said on Monday, as she stressed the importance of a free and open Indo-Pacific region. She was speaking after a meeting with Philippine President Ferdinand Marcos Jr. in Manila where the two leaders discussed a range of issues from security and trade to climate change. "We are ready to strengthen the cooperation with the Philippines on maritime security in the region by sharing information, conducting threat assessment and building the capacity of your coast guard," she said in a joint press conference with Marcos. Von der Leyen on Monday reaffirmed the EU's support for a 2016 international arbitration ruling that invalidated Beijing's expansive claims, saying the ruling is legally binding and provides the basis for resolving disputes peacefully. Von der Leyen also said the European Union will support the Philippines' fight against climate change, which is a priority for Marcos as he pushes to increase renewables in the country's power mix to 35% by 2030.

Persons: Ferdinand Marcos Jr, Ursula von der Leyen, Aaron Favila, Marcos, Von der Leyen, Karen Lema, Neil Jerome Morales, Kanupriya Kapoor Organizations: Philippine, European, REUTERS, European Union, Thomson Locations: Manila, Philippines, REUTERS MANILA, The Philippines, United States, China, South China, European

☆ Middle-income Americans think prosperity is within reach
▼ + stars: | 2023-07-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Santander recently released a quarterly survey of about 2,250 middle-income bank and financial services customers (defined as having household incomes between $47,000 and $142,000.) Illegal child labor is on the rise in a tight job marketUS child labor violations have jumped in recent years. Now, the Department of Labor has announced actions it’s taken so far this year through a new interagency task force on child labor. Between October 1, 2022, and July 20, 2023, the Department of Labor concluded 765 child labor cases, found 4,474 children employed in violation of federal child labor laws and assessed more than $6.6 million in penalties against employers, the agency announced on Thursday. In addition, the Wage and Hour Division of the Labor Department is currently pursuing more than 700 open child labor cases.

Persons: New York CNN —, Tim Wennes, “, ”, Bell, they’re, they’ll, they’ve, That’s, We’re, we’ve, BlackRock, Tupperware, it’s, Labor Julie Su, Jordan Barab, Obama, Barab Organizations: CNN Business, Bell, New York CNN, Federal, Heartland Tri, State Bank of, Federal Deposit Insurance Corporation, First Bank, Spain’s Santander, SC, Santander, New York Stock Exchange, GameStop, AMC, Libra Investment, Department of Labor, Labor, Occupational Safety, Health Administration, Labor Department Locations: New York, PacWest, Banc, California, State Bank of Elkhart , Kansas, America, United States, Santander, Florida, noncompliance, Tupperware

☆ Subomi Plumptre: A woman on a mission to build prosperity in Africa
▼ + stars: | 2023-07-31 | by ( Susan Williams For Cnn | ) edition.cnn.com time to read: +6 min

However, one woman says she has made it her life’s mission to empower Africa’s squeezed middle class. She is the co-founder of Volition Cap, an investment cooperative that aims to help Africans build wealth and financial stability. But the middle class are the ones that create the most small and medium scale enterprises. So my focus on the middle class is actually very deliberate, because I realize that the middle class is the economic destiny of Africa,” Plumptre told CNN. That was what happened to my parents.”This tragedy made Subomi realize that she, like many middle class individuals, lacked a safety net when faced with critical emergencies.

Persons: Africa’s, Cap, Plumptre, ” Plumptre, “, ” Organizations: CNN, African Development Bank Group, International Labour Office, World Bank, SEC Locations: Nigeria, Africa, Europe, America

☆ Get the lowdown on 'e/acc' — Silicon Valley's favorite obscure theory about progress at all costs, which has been embraced by Marc Andreessen
▼ + stars: | 2023-07-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

There's a new ideological interest in Silicon Valley: effective accelerationism. It's called effective accelerationism. The more formalized e/acc idea has taken shape on Twitter and through Substack newsletters since 2022. In an e/acc world, no idea that offers hypothetical value should be considered too absurd, too dangerous, too out there to make a reality. But one thing does seem certain: as long as AI remains front and center, so too will effective accelerationism.

Persons: Marc Andreessen, It's, Garry Tan, Sam Bankman, Fried, Michael M, Nick Land, Freeman, ChatGPT, Marc Andreessen's, Tan, Y Organizations: Tech, acc, Morning, Twitter, Getty, University of Warwick Locations: Silicon Valley, British, Francisco

☆ Biden to host Japan, South Korea leaders for Aug. 18 summit -White House
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 28 (Reuters) - U.S. President Joe Biden will host Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol for a trilateral summit at Camp David in Maryland on Aug. 18, the White House said on Friday. "The three leaders will discuss expanding trilateral cooperation across the Indo-Pacific and beyond – including to address the continued threat posed by (North Korea) and to strengthen ties with ASEAN and the Pacific Islands," White House spokesperson Karine Jean-Pierre said in a statement. Washington is keen to encourage closer cooperation with its two main allies in Asia amid shared concerns about China's growing might and North Korea's nuclear and missile programs. Japan and South Korea have been moving to mend strained bilateral ties following years of feuds over historical issues which undercut cooperation. Reporting by Rami Ayyub; Editing by Eric BeechOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Karine Jean, Pierre, Washington, Jean, Rami Ayyub, Eric Beech Organizations: South, Camp David, ASEAN, Thomson Locations: Camp, Maryland, North Korea, Asia, Japan, South Korea

North Korean leader Kim Jong Un meets with Russian Defense Minister Sergei Shoigu and his delegation, North Korean state media KCNA reported on July 26, 2023. Meanwhile, Moscow over the decades has been a staunch ally for North Korea, especially as the two share a joint animosity toward the West. US officials said last year that North Korea was selling millions of rockets and artillery shells to Russia for use on the battlefield in Ukraine. North Korea typically marks key moments in its history with displays of its newest weaponry. One such weapon that may be on display is the Hwasong-18 ICBM, a solid-fueled, nuclear-capable missile that North Korea claims could hit anywhere in the United States.

Persons: Kim Jong Un, Sergei Shoigu –, Kang Sun Nam, Shoigu, Li Hongzhong, Kim Song Nam, North Korea “, ” Ankit Panda, Stanton, ” Panda, Blake Herzinger, “ It’s, ” Herzinger, Sergei Shoigu, Pyongyang’s, Camp Humphreys, Xi Jinping, Panda, Vladimir Putin, Xi, Putin, Wagner Organizations: South Korea CNN —, Russian, North Korean Defense, Korean Central News Agency, Korean People’s Army, North Korean, Nuclear, Carnegie Endowment, International Peace, United States Studies Center, Russian Defense, United Nations Command, Beijing, Aid, UN Command, Army, US, Chinese Communist Party, UN Security Council, Foreign Ministry, US Navy Locations: Seoul, South Korea, Russia, China, North, Pyongyang, Ukraine, North Korea, Moscow, Australia, North Korean, United States, Aid Korea, Soviet Union, Pyeongtaek, Beijing, Soviet, Russian, Iran, Korea, Moscow’s, Japan

☆ Ukraine's NATO membership would be bad for Putin, but great for the Russian economy, professor says
▼ + stars: | 2023-07-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Russia's economy could return to global markets if Ukraine joins NATO, Konstantin Sonin wrote. The Russia scholar said Kyiv's membership in the alliance would make it harder for the Kremlin to justify outsized military spending. Such rhetoric typically prioritized high military spending over economic welfare, a factor in the Soviet Union's 1991 downfall, Konstantin said. "To be sure, bringing Ukraine into NATO would not undo the damage Putin has inflicted on the Russian economy," he said. And the growth of military spending has been difficult to track because an increasingly larger portion of it has been determined a state secret.

Persons: Konstantin Sonin, Putin, Vladimir Putin, Long, Konstantin Organizations: NATO, Service, University of Chicago, Project Syndicate Locations: Ukraine, Russia, Wall, Silicon, Soviet

☆ China's politburo meeting leaves many economic headaches unaddressed
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +5 min

Encouraging higher wages requires unleashing the private sector from tight Communist Party controls, as well as boosting workers' bargaining power. Another headache for the Communist Party is youth unemployment surpassing 20%. The onus is on the private sector to provide those jobs, but many businesses lack confidence after years of crackdowns on the tech, financial and other industries. Chinese courts answer to the Communist Party. More profound structural reforms will have to wait until a key Party conference in December.

Persons: weren't, Marius Zaharia, Lincoln Organizations: Communist Party, Thomson Locations: HONG KONG, CHINA, China, United States, Japan, Beijing, crackdowns

☆ What new norm of slower Chinese growth could mean for the global economy
▼ + stars: | 2023-07-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Ying Tang | NurPhoto | Getty ImagesThe Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The ruling Chinese Communist Party has set a growth target of 5% for 2023, lower than usual and notably modest for a country that has averaged 9% annual GDP growth since opening up its economy in 1978. For the global economy, however, the most immediate spillover of a Chinese slowdown will likely come in commodities and the industrial cycle, as China reconfigures its economy to reduce its reliance on a property sector that has been "absorbing and driving commodity prices." "This shift from a complementary economy, where Beijing and Berlin kind of benefit from each other, to now being competitors is another big consequence of the structural slowdown," Green said. He noted that beyond the immediate loss of demand for commodities, China's reaction to its shifting economic sands will also have "second order impacts" for the global economy.

Persons: Ying Tang, Julian Evans, Pritchard, Evans, it's, Xi Jinping's, Rory Green, Green Organizations: Beijing, Communist Party, Capital Economics, Triple, TS Lombard, CNBC Locations: Suzhou, Shanghai, China, Asia, Beijing, Japan, Brazil, Australia, Germany, Berlin

☆ Cambodia holds lopsided election before historic transfer of power
▼ + stars: | 2023-07-22 | by ( Prak Chan Thul | ) www.reuters.com time to read: +5 min

He needs to win a National Assembly seat to become prime minister, which is likely. Analysts had expected the transition to come mid-term, giving time for Hun Manet to earn legitimacy with the public and political elite. "As long as Hun Sen is around, nobody will move against Hun Manet." [1/3]Hun Manet, son of Cambodia's Prime Minister Hun Sen, speaks during the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. Some did that on Sunday, posting pictures on social media of spoiled ballots, some with writing that disparaged Hun Sen, calling him a coward.

Persons: Hun Manet, Hun Sen's, Hun Sen, I've, Gordon Conochie, Cambodia's, Cindy Liu Hun Manet, Sam Rainsy, Freshnews, Nin Sinath, Hun, Prak Chan Thul, Chantha Lach, Martin Petty, Robert Birsel, William Mallard Organizations: Hun Sen's Cambodian People's Party, Former Khmer Rouge, National Assembly, La Trobe University, Cambodian People's Party, REUTERS, New York University, University of Bristol, Candlelight Party, Thomson Locations: PHNOM PENH, Former, Cambodia, Phnom Penh, China, United States

They are intended to complement traditional economic indicators such as gross domestic product, inflation and employment. "I think that they can be in concert and that is what the national wellbeing framework is all about." In a 127-page report titled "Measuring What Matters" issued to accompany the dashboard, the government painted a mixed picture of wellbeing. But measures of chronic health conditions, national security, biodiversity and fiscal sustainability had all declined. Several countries have attempted to diversify policymaking beyond economic benchmarks in recent years, most famously Bhutan, whose "gross national happiness" index is considered more important than GDP.

Persons: Carl Recine, Jim Chalmers, Wayne Cole, Alasdair Pal, Edwina Gibbs Organizations: Soccer Football, FIFA, REUTERS, Thomson Locations: New Zealand, Sydney, Australia, Bhutan

[1/5] A worker sweeps a street in the Central Business District on a rainy day in Beijing, China, July 12, 2023. REUTERS/Thomas PeterBEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich. He expects growth to slow to 3%, which "will feel like an economic recession" when youth unemployment is already above 20%. The April-June data puts 2023 growth on track for roughly 5%, with slower rates thereafter. But China's annual growth averaged around 7% last decade, and more than 10% in the 2000s.

Persons: Thomas Peter BEIJING, Desmond Lachman, year's, Wang Jun, Zheng Shanjie, Zheng, Richard Koo, Juan Orts, Xi Jinping's, Zhao, Cai Fang, Zhu Ning, Koo, Liangping Gao, Ellen Zhang, Ziyi Tang, Kevin Yao, Joe Cash, Marius Zaharia, David Crawshaw Organizations: Central Business District, REUTERS, American Enterprise Institute, Reuters, Communist, Huatai Asset Management, Reform Commission, Overseas, Nomura Research Institute, Fathom Consulting, Shanghai Advanced Institute of Finance, Thomson Locations: Beijing, China, Japan, United States, Young, Africa, Latin, U.S, Central

☆ COP28 in Dubai: Inside the push to greenwash the next climate summit
▼ + stars: | 2023-07-18 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

The country has embarked on a major PR campaign to boost its green credentials ahead of the COP28 UN climate summit in Dubai later this year, prompting heavy criticism from climate groups and some politicians. The controversial road to COPThe climate summit takes place at a different location each year, with responsibility for hosting rotating among five regional groups. But the UAE stands out because of the way it chose to intertwine the summit with its oil business. In January, the UAE announced Sultan Al Jaber would be the summit president, to the horror of many climate groups. The country is “ideally suited to host” the summit, a spokesperson for the COP28 presidency told CNN.

Persons: ”, Jennie King, Sultan Al Jaber, Al Jaber, CNN Al Jaber “, Al Jaber’s, John Kerry, Frans Timmermans, “, ” Al Jaber, It’s, it’s, Al, ADNOC, Marc Owen Jones, Hamad, Jones, King, Cop28, Kat Ainger, ” King Organizations: CNN, United, United Arab Emirates, Centre, Climate, Guardian, Institute for Strategic, Abu, Abu Dhabi National Oil Company, US, Associated Press, EU, Hamad bin Khalifa University, Twitter, UAE COP28, UAE Ministry of, Environment, UAE, US Justice Department, Corporate Locations: United Arab, Dubai, UAE, Katowice, Glasgow, Abu Dhabi, Al Jaber, Qatar, Paris, China, India, ”

☆ Moldova separatist leader vows to solve opposition politician's suspected murder
▼ + stars: | 2023-07-18 | by ( Alexander Tanas | ) www.reuters.com time to read: +2 min

CHISINAU, July 19 (Reuters) - The president of Moldova's separatist pro-Russian Transdniestria region vowed on Tuesday to solve the suspected murder of an opposition politician who was a rare advocate of reconciliation with the country's pro-European government. Opposition politician Oleg Horgan was found dead in his home this week, apparently after being struck with a heavy object. Transdniestria President Vadim Krasnoselsky said he would take "personal control" of the investigation. A parliamentary committee summoned a special sitting of the assembly to discuss the suspected murder later in the week. Moldova has embarked on a drive to join the EU since the 2020 election of President Maia Sandu, who has roundly denounced Russia's invasion of Ukraine.

Persons: Transdniestria, Oleg Horgan, Oleg Serebrean, Vadim Krasnoselsky, Krasnoselsky, Horgan, Maia Sandu, Sandu, Ronald Popeski, Sonali Paul Organizations: Organization for Security, Cooperation, European Union, EU, Communist, Sheriff, Moldovan, Civic Congress, Russian, Thomson Locations: CHISINAU, Russian, Moldova, Europe, Ukraine, Russia, Transdniestria, Moscow

HONG KONG, July 18 (Reuters) - China's CITIC Securities (600030.SS) plans to move dozens of bankers from its offshore platform CLSA in Hong Kong to the mainland to cut costs and meet Beijing's call to bridge income inequality in the financial sector, people with knowledge of the matter said. The move comes weeks after CITIC cut pay across its investment banking division, lowering base salaries of mainland-based bankers by up to 15%. The move would result in a 25% to 50% base salary reduction because dealmakers in Hong Kong are normally offered higher pay than mainland peers, according to the second person. Wall Street banks such as Goldman Sachs (GS.N), JPMorgan (JPM.N) and Morgan Stanley (MS.N) have cut some investment banking jobs in China over the last 12 months. ($1 = 7.1729 Chinese yuan renminbi)Reporting by Selena Li and Xie Yu in Hong Kong; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: CITIC, Goldman Sachs, Morgan Stanley, Selena Li, Xie Yu, Jamie Freed Organizations: CITIC Securities, CLSA's, Bankers, JPMorgan, Australian, Thomson Locations: HONG KONG, Hong Kong, China, CLSA's China, Beijing, Canadian

☆ Old Cold War tool could help in new era of tension
▼ + stars: | 2023-07-17 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

The United States may soon expand its export controls to cover semiconductors used in artificial intelligence and access to cloud computing. The People’s Republic has responded with tit-for-tat export controls on gallium and germanium, two strategic metals used in chips and other technologies where it has a dominant position. This is what the U.S. and its allies did during the last Cold War, when they established the Coordinating Committee for Multilateral Export Controls (CoCom). The United States’ subsidies for green technologies via its Inflation Reduction Act (IRA) caused tension with its allies. Its premier, Li Qiang, travelled to Germany last month hoping to persuade it not to row in behind the United States.

Persons: Joe Biden, Hung Tran, Li Qiang, –, Biden, Donald Trump, Ron DeSantis, Frances Burwell, Canada –, George Hay, Oliver Taslic, Pranav Kiran Organizations: Reuters, NATO, Soviet, Atlantic Council, Reuters Graphics Reuters, European Union, Multilateral Export Controls, United, Republican, Florida, EU, U.S, U.S . Trade, Technology Council, Twitter, Thomson Locations: Ukraine, China, Republic, U.S, Netherlands, Japan, States, United States, People’s Republic, Germany, Beijing, ’, Russia, Britain, Canada, Australia, South Korea

Search resuls for: "prosperity"

25 mentions found