DIRS.INFO The most relevant business & tech news

☆ As Chances of Finding Earthquake Survivors Dwindle, Turkey and Syria Focus on Recovery
▼ + stars: | 2023-02-11 | by ( Benoit Faucon | Stephen Kalin | ) www.wsj.com time to read: 1 min

ADIYAMAN, Turkey—Authorities in Turkey and Syria raced on Saturday to provide shelter for tens of thousands of people left homeless by Monday’s massive earthquakes as a top United Nations official warned that the death toll could double from the current count of more than 24,000. Rescue teams continued to pull survivors and bodies from the rubble of destroyed buildings, and Turkish President Recep Tayyip Erdogan —whose government is facing increasing anger over the pace of relief efforts—pledged a large-scale effort to rebuild.

☆ As Chances of Finding Earthquake Survivors Dwindle, Turkey, Syria Focus on Recovery
▼ + stars: | 2023-02-11 | by ( Benoit Faucon | Stephen Kalin | ) www.wsj.com time to read: 1 min

☆ Maps: The devastating earthquakes in Turkey and Syria
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +12 min

Terrain map showing the 7.8- and 7.5-magnitude earthquakes near the eastern border of Turkey and Syria. A woman stands near rubble and damage in Gaziantep, Turkey, Feb. 7, 2023. REUTERS/Firas Makdesi A section of the earthquake damaged D420 road in Demirkopru, Turkey, Feb. 8, 2023. REUTERS/Umit Bektas A man walks past a partially-collapsed building in Pazarcik, Turkey, Feb. 9, 2023. REUTERS/Suhaib Salem People inspect the damage as rescuers search for survivors in Hatay, Turkey, Feb. 8, 2023.

☆ Turkish-American Women Take In Quakes’ Devastation, Seek to Help
▼ + stars: | 2023-02-09 | by ( Shannon Najmabadi | Joe Barrett | ) www.wsj.com time to read: 1 min

From her suburban home north of Denver, Burcu Dagli has a window into the destruction from Monday’s earthquakes in Turkey: Her boyfriend is a paramedic in the southern Turkish province of Mersin who was sent to help dig people out of the rubble and provide medical care. Rana Yurtsever has spent much of the past few days on the phone in suburban Chicago, checking on loved ones and friends affected by the quake, coordinating donations—and reliving her own memories of a deadly quake in 1999 before she left the country as a young girl.

☆ Earthquake-Hit Syria Sees Arrival of First Aid Convoys
▼ + stars: | 2023-02-09 | by ( Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

Aid began trickling into northwest Syria on Thursday, four days after deadly earthquakes battered an area that has been politically isolated by war, and left millions of displaced people and other Syrians living under continued hostilities without assistance. Six United Nations trucks crossed the Bab al-Hawa border crossing, which connects Turkey to the far northwestern corner of Syria. Before Thursday, the road to the crossing had been damaged by Monday’s earthquakes. The trucks carried shelter items and nonfood supplies, according to the U.N.’s Office for the Coordination of Humanitarian Affairs, or OCHA.

☆ Hopes of Finding Earthquake Survivors in Turkey and Syria Fade as Aid Arrives
▼ + stars: | 2023-02-09 | by ( Rory Jones | ) www.wsj.com time to read: 1 min

Hopes dwindled Thursday of finding people still alive under collapsed buildings caused by earthquakes that rocked Turkey and Syria, with rescuers now focusing on recovering bodies and finding shelter for survivors. Rescuers continued to dig through the tangled mess of concrete, steel and wires of collapsed structures after Monday’s earthquakes—magnitude 7.8 and 7.5—that hit the Syrian-Turkish border. But the number of survivors found has slowed to a trickle as efforts passed the crucial 72 hours that most disaster experts say is the most likely window to save lives.

GAZIANTEP, Turkey—Before Monday’s earthquakes, Gaziantep was a busy and prosperous border city, a haven for refugees fleeing conflict in neighboring Syria. In good weather, crowds strolled its green parks, shopped in a suburban-style mall and hung out in a plaza at the foot of an ancient citadel. Today, Gaziantep is a ghost town. With thousands of buildings destroyed or damaged and no electricity or running water, many residents fled. Those who remain are sleeping in cars, schools or the street, despite freezing winter weather.

ADANA, Turkey—Rescue efforts turned grim Thursday as fewer survivors were found amid the rubble four days after two devastating earthquakes rocked Turkey and Syria and people turned instead to burying the dead, now more than 21,000 people across both countries. In Turkey, the death toll was 17,674 by late Thursday evening local time, according to figures provided by Turkish Vice President Fuat Oktay to the country’s state news agency. This surpasses the toll of a devastating 1999 earthquake that traumatized the nation and changed Turkish politics for decades. Authorities in Syria reported 3,377 deaths. Thousands more people were injured as thousands of buildings collapsed when Monday’s earthquakes—magnitude 7.8 and 7.5—hit the Syrian-Turkish border.

☆ Meme investors go to bed, take a bath
▼ + stars: | 2023-02-07 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

And that showed on Monday, when American sheets and curtains retailer Bed Bath & Beyond (BBBY.O) moved to bring in a new cash injection. Bed Bath & Beyond has been on the brink of collapse for a while, warning recently that a bankruptcy filing could be on the horizon. Recently, though, even as talk of bankruptcy has grown, shares in Bed Bath & Beyond have been on a tear again. That culminated in the announcement Tuesday morning that it had priced an offering of preferred stock and warrants, which comes on top of the rearrangement of some of its debt. CONTEXT NEWSRetailer Bed Bath & Beyond said on Feb. 7 that it had priced an offering of convertible preferred stock, as well as warrants to purchase further preferred shares and common stock.

☆ Hong Kong Opposition on Trial in Landmark National-Security Case
▼ + stars: | 2023-02-06 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

HONG KONG—Sixteen of Hong Kong’s pro-democracy figures went on trial Monday in a landmark case that saw the city’s opposition effectively snuffed out in the government’s biggest crackdown on political dissent. The arrests of the 16 in January 2021, part of a larger roundup in which dozens of the city’s most prominent politicians and activists have been detained for more than two years, drew condemnation and sanctions from Washington and its allies. Monday’s trial comes as the city’s government launches a marketing blitz to attract international businesses and tourists by placing advertisements in American news outlets and by giving out half a million free plane tickets.

Jan 30 (Reuters) - A U.S. appeals court on Monday shot down Johnson & Johnson's (JNJ.N) attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The appeals court ruling revives those lawsuits. Monday's decision by the U.S. 3rd Circuit Court of Appeals in Philadelphia dismissed the bankruptcy filed by the J&J subsidiary in 2021. The appeals court decision could force companies considering the strategy to more carefully consider its risks, two legal experts said. The Texas two-step has garnered criticism from Democratic lawmakers in Washington, and inspired proposed legislation that would severely restrict the practice.

Organizations: & $

☆ Suicide bomber kills 59 at Pakistan mosque used by police officers
▼ + stars: | 2023-01-30 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

PESHAWAR, Pakistan — A suicide bomber struck a crowded mosque inside a police compound in Pakistan on Monday, causing the roof to collapse and killing at least 59 people and wounding more than 150 others, officials said. He expressed his condolences to families of the victims, saying their pain “cannot be described in words.”Police said between 300 to 350 worshippers were inside the mosque when the bomber detonated his explosives. Sarbakaf Mohmand, a commander for the Pakistani Taliban, also known as Tehreek-e-Taliban Pakistan or TTP, claimed responsibility for the attack on Twitter. Pakistan, which is mostly Sunni Muslim, has seen a surge in militant attacks since November, when the Pakistani Taliban ended their cease-fire with government forces. Monday’s assault on a Sunni mosque was one of the deadliest attacks on security forces in recent years.

☆ Mortgage rates tick down ahead of Fed meeting next week
▼ + stars: | 2023-01-26 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates fell slightly this week, staying almost flat ahead of the Federal Reserve’s closely watched interest rate-setting meeting next week. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Mortgage applications riseThe downward trend for mortgage rates since November has had a positive impact on home affordability for mortgage borrowers. “Borrower demand, thanks to lower mortgage rates, continues to rise in early 2023,” said Bob Broeksmit, MBA president and CEO.

☆ Spotify to cut 6% of its workforce
▼ + stars: | 2023-01-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Spotify (SPOT) said Monday that it will cut 6% of its workforce to reduce costs, joining tech companies including Amazon (AMZN) and Microsoft (MSFT) in slashing headcount as the global economy slows. The Stockholm-headquartered music streaming business had about 9,800 employees globally as of September 30, according to an earnings report. The company’s stock, which has nearly halved in value over the past 12 months, gained more than 4% in premarket trading in New York. Over the past three months, Amazon (AMZN), Google (GOOGL), Microsoft (MSFT) and Facebook (FB)-parent Meta have announced plans to cut more than 50,000 employees from their collective ranks. Spotify’s decision to shed about 590 jobs is part of a wider reorganization to improve efficiency and “speed up decision-making,” according to Ek.

Islamabad, Pakistan CNN —A nationwide power outage in Pakistan left nearly 220 million people without electricity on Monday, threatening to cause havoc in the South Asian nation already grappling with fuel shortages in the winter months. It is unclear how long the outage will last and efforts are underway to restore power to various parts of the country. The outage comes as the country’s fragile economy continues to struggle with multiple challenges, including a severe energy crisis. The decision to reduce energy usage came as Pakistan announced its foreign exchange reserves had dwindled to alarmingly low levels. Monday’s power outage is Pakistan’s most widespread power shutdown since 2021, when the nation plunged into darkness for hours after a “sudden plunge in the frequency in the power transmission system.”

☆ Little-Known Politician to Become German Defense Minister Amid Mounting Challenges
▼ + stars: | 2023-01-17 | by ( Bojan Pancevski | ) www.wsj.com time to read: 1 min

Boris Pistorius, the longstanding interior minister of the Western state of Lower Saxony, was a surprise appointment to the position of Germany’s defense minister. BERLIN—German Chancellor Olaf Scholz appointed a regional politician as defense minister on Tuesday, seeking to put back on track Germany’s plans to overhaul its ailing armed forces and boost military support for Ukraine. The move came after Monday’s resignation of Christine Lambrecht from the portfolio, dealing a blow to one of Mr. Scholz’s most ambitious projects: A 100-billion-euro plan to repair the country’s long-neglected military.

☆ Expansionist dreams threaten ECB digital euro plan
▼ + stars: | 2023-01-17 | by ( Rebecca Christie | ) www.reuters.com time to read: +4 min

The idea of a digital euro with the same reserve backing as its physical equivalent is thus partly about Frankfurt controlling the process. At best, a digital euro could bring more citizens into the banking system, particularly those who don’t have enough money for traditional financial services products. That jars with central bankers’ preference to limit the digital euro to the EU at first. The euro does not need a digital currency, but its members have signalled they want one. Reuters GraphicsFollow @rebeccawire on TwitterCONTEXT NEWSEuro area finance ministers issued a statement on the so-called digital euro on Jan. 16, calling for political oversight and an international approach of a European central bank digital currency (CBDC).

☆ As California Storms Approach End, Flood Fears Remain
▼ + stars: | 2023-01-16 | by ( Adolfo Flores | ) www.wsj.com time to read: 1 min

Central California remained under a flood watch Monday as the last in a series of major storms that have battered the state since Christmas moved through, according to forecasters. Monday’s storm could bring heavy rain, strong winds and possible flooding in some areas before moving into the U.S. Southwest, said the National Weather Service.

☆ 6-year-old is unlikely to be charged in teacher's shooting, but parents could be, experts say
▼ + stars: | 2023-01-11 | by ( Antonio Planas | Helen Kwong | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

The 6-year-old boy accused of shooting his Virginia teacher Friday with a gun he took from home is unlikely to be charged, but his parents could be criminally culpable depending on if they properly secured the weapon, experts said. The boy shot Zwerner with a 9mm Taurus firearm he obtained from his home, Drew said. NBC News legal analyst Danny Cevallos said it’s highly unlikely the boy will be charged, even in juvenile court. In recent years, several adults have been charged in Virginia after a child has fired an unsecured gun. In October 2013, the Virginian-Pilot reported the parents of an elementary school student in Norfolk were charged with child neglect after their son brought a handgun to school.

☆ Molson Coors is launching its first-ever zero-proof cocktail
▼ + stars: | 2023-01-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Molson Coors is typically known for its lineup of beers and booze, but its newest drink isn’t either. Its arrival comes as Molson Coors broadens its portfolio beyond beer and expands into new growth categories that are sparking consumers’ interest, including canned cocktails and non-alcoholic beverages. “We know a lot of consumers are starting to either moderate or temper and think about their consumption habits,” Jamie Wideman, vice president of innovation for Molson Coors exclusively told CNN. Molson Coors Beverage CompanyRoxie is available in three flavors: Passionfruit, pineapple and mango. The company’s direction beyond traditional beer stems from a 2019 decision to rebrand itself from Molson Coors Brewing Company to Molson Coors Beverage Co (TAP)mpany as a result of declining beer sales.

☆ Brazil's govt: rioters 'will not succeed' in destroying democracy'
▼ + stars: | 2023-01-09 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

The protesters swarmed into Congress, the Supreme Court and presidential palace on Sunday. Lula and the heads of the Supreme Court, Senate and Lower House also signed a letter Monday denouncing acts of terrorism and vandalism and saying they were taking legal measures. “They will not succeed in destroying Brazilian democracy. They overturned the U-shaped table at which Supreme Court justices convene, ripped a door off one justice’s office and vandalized an iconic statue outside the court. A supreme court justice temporarily suspended the regional governor.

☆ The Bills Deliver a Storybook Win in Their Return After Hamlin’s Collapse
▼ + stars: | 2023-01-09 | by ( Andrew Beaton | ) www.wsj.com time to read: 1 min

It took precisely one play for the Buffalo Bills to show how they would respond in their first game since last Monday’s was canceled after their safety Damar Hamlin went into cardiac arrest on the field. Buffalo’s Nyheim Hines returned the opening kickoff of Sunday’s game against the New England Patriots for a 96-yard touchdown, as the stadium burst into roars and an incredulous Josh Allen, the Bills quarterback, put his hands on his head watching from the sidelines.

☆ US consumers increased their borrowing by $28 billion in November
▼ + stars: | 2023-01-09 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —US consumers’ credit-hungry approach to spending continued in November, with borrowing rising by nearly $28 billion, according to Federal Reserve data released Monday. Revolving credit, which includes mostly credit cards, grew by 16.9%. It’s the largest jump in revolving credit seen in three months and the fifth-largest monthly increase in Fed record-keeping that goes back nearly 55 years. “It’s really revolving credit, mostly credit card debt, that’s carrying the day right now,” Rossman said. That has filtered down to historically high, if not record, interest rates for car loans, credit cards and personal loans.

☆ UK officials meet with unions in bid to end strikes by nurses and ambulance drivers
▼ + stars: | 2023-01-09 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Senior UK government officials are meeting with labor unions on Monday in a last-ditch effort to avert another wave of strikes affecting vital public services such as health care and transport. On Monday, the education minister will meet with teaching unions, the transport minister will meet with rail unions and the health minister will meet with unions representing nurses and ambulance drivers. Workers are demanding higher pay and better working conditions in the face of record inflation and a sharp fall in living standards. Ambulance workers will strike on January 19 in Wales and on January 23 in England. Teacher unions are balloting members over a possible strike, while the British Medical Association started balloting junior doctors on Monday.

☆ New York nurses strike: Key takeaways
▼ + stars: | 2023-01-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —The 7,000 nurses who went on strike in New York Monday say the 19% pay hike that hospital management offered them was never the main issue. And so thousands of nurses went on strike with no end in sight. The overall effect on the New York hospital system appear to be minor so far, according to a city official. While the union and Montefiore are due back at the bargaining table Monday afternoon, no new talks are scheduled as of midday for Mount Sinai. The union says Mount Sinai and Montefiore have severe staffing problems and need to do more than the others to improve patient care and work conditions.

Search resuls for: "Monday’s"

25 mentions found