DIRS.INFO The most relevant business & tech news

☆ Geely shares jump after automaker beats revenue expectations for 2022
▼ + stars: | 2023-03-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

In this article 175-HK Follow your favorite stocks CREATE FREE ACCOUNTwatch nowChinese automaker Geely beat revenue expectations for 2022, sending shares surging Wednesday. Geely reported its 2022 revenue surged 45.6% from a year ago to 148 billion yuan ($21.49 billion), while profit jumped 8.5% to reach 5.26 billion yuan. Analysts had expected Geely to report 135.4 billion yuan in revenue, according to a Refinitiv consensus estimate. Geely said total sales climbed 8% last year to over 1.4 million units. The company said its high-end models accounted for 23% of total sales in 2022, or 252,787 units.

A sign is posted on the exterior of a First Republic Bank office on March 16, 2023 in San Francisco, California. Asia-Pacific markets rose on Wednesday as investors looked ahead to the U.S. Federal Reserve's latest update on its rate hike decision, as the central bank attempts to balance its inflation fight and stem a banking crisis. Japanese markets led gains in the region, with the Nikkei 225 up 1.54% and the Topix higher at 1.77% after breaching the 2% level earlier. In Australia, the S&P/ASX 200 rose 0.9%, while in South Korea, the Kospi rose 0.67% and the Kosdaq advanced 0.78%.

SYDNEY, AUSTRALIA - A person jogging passes the Sydney Opera House as the rising sun reflects off buildings in the central business district (CBD) on September 28, 2021 in Sydney, Australia. Asia-Pacific markets are set to rise after markets on Wall Street staged a relief rally on the hopes that the banking crisis is easing, following the $3.2 billion takeover of Swiss bank Credit Suisse by rival UBS. U.S. Federal Reserve's Federal Open Market Committee meeting kicks off later today stateside, with the central bank expected to approve a quarter-percentage-point interest rate increase, according to market pricing and many Wall Street experts. Markets in Japan are closed for a holiday. Stocks in Hong Kong are poised to rise, with Hang Seng futures at 19,166 – compared to the index's last close at 19,000.

Pictured here is Shanghai's Lujiazui Financial District on June 7, 2022. Asia-Pacific markets are headed for a fall on Monday after UBS agreed to buy its banking rival Credit Suisse in a $3.2 billion takeover over the weekend. Asian markets will also be expecting several economic releases, such as China's loan prime rate and export data out of South Korea later today. In Japan, markets look to open sharply lower, as the Nikkei futures contract in Chicago stood at 26,945 and its counterpart in Osaka was at 26,700, against the Nikkei 225 last close at 27,333.49. In Australia, the S&P/ASX 200 fell 0.76%, with shares of all of its major banks slightly down.

LONDON, March 17 (Reuters) - Hedge funds are watching growing U.S.-Chinese geopolitical tensions and have spotted ways to trade them. Taking a short position on investment grade bonds would make up for losses on long positions elsewhere, he said. If tensions were resolved, being caught with a negative view on Chinese stocks would not be beneficial, and therefore she would not short Chinese AI firms but invest in U.S. ones instead. "The most sensitive commodity to a break down in trade between China and Russia and the West is graphite," he added. "Supply chains are already shifting to Penang, and they are receiving investment from both China and the U.S.

Yields, which move opposite price, were rising Thursday morning after the European Central Bank raised rates by a half percentage point. Yields moved even further after his report. Bleakley Financial's Peter Boockvar said the futures market moved to price in even higher odds of a Fed rate hike. On Wednesday, odds were about 50% for a quarter point rate hike, but in Thursday afternoon trading the odds jumped up to 86%. "Rate hike expectations have been rising all morning.

Companies Credit Suisse Group AG FollowMarch 16 - Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse (CSGN.S) was thrown a financial lifeline by Swiss regulators. As of 0427 GMT, Brent crude futures were up 58 cents or 0.8% to $74.27 per barrel. West Texas Intermediate crude futures (WTI) rose 51 cents, also 0.8%, to $68.12 a barrel. OPEC's rosier outlook for China oil demand also supported oil prices, said Lim Tai An, analyst at Phillip Nova Pte. Higher interest rates can lead to depressed demand for oil as economic growth slows, but concerns about a widenening financial crisis for the banking sector could also weigh on oil demand.

Asia-Pacific markets are set to fall on Thursday as fears persist of a widespread banking crisis spreading into Europe, sparked by the turmoil around global bank Credit Suisse. In Asia, the Australian S&P/ASX 200 fell 1.78%, dragged by miners and the banking sector. The country will release its unemployment rate for February, forecast to come in at 3.6%. In Japan, the Nikkei futures contract in Chicago was at 26,625, while its counterpart in Osaka was at 26,480 against the Nikkei 225's last close at 27,229.48. Japan will release its trade balance data for February, with exports and imports expected to grow at 7.1% and 12.2% respectively.

A pedestrian along the Bund in Shanghai, China Photographer: Qilai Shen/Bloomberg via Getty ImagesAsia-Pacific markets are set to rise on Wednesday following a slightly cooler U.S. inflation report and as the fallout in the banking sector seemed to be contained. The U.S. consumer price index report for February came in at 0.4% and an annualized increase of 6%, in line with Dow Jones estimates. In Australia, the S&P/ASX 200 rose 0.64% as bank stocks rallied early in the trading day. In Japan, the Nikkei futures contract in Chicago was at 27,225, and its Osaka counterpart stood at 27,190 against the Nikkei 225's last close at 27,222.04. Investors will be closely watching a slew of economic data releases from China today, with the country set to release its retail sales and industrial output numbers for February, as well as its one year medium term lending rate for March.

☆ The top breakout TikTok stars of each year since 2019 show how the app has evolved over time
▼ + stars: | 2023-03-14 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +3 min

When TikTok first gained popularity, it was known for lip syncing, dancing, and viral challenges. We used data from Famous Birthdays to see the breakout TikTokers each year since 2019. TikTok's first homegrown influencers, like Charli D'Amelio and Addison Rae Easterling, grew in popularity with dancing and lip syncing videos filmed from their childhood bedrooms. It identified Addison Rae Easterling, who now has 88 million TikTok followers, as a breakout creator when she first gained momentum on TikTok, contacting her when she had just 300,000 followers, she told the LA Times. Here were the rising stars on TikTok each year since 2019, according to data from Famous Birthdays:

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets are set to fall on Tuesday, mirroring losses on Wall Street overnight as investors continue to grapple with the banking fallout in the U.S. The Dow Jones Industrial Average saw its fifth straight day of losses, even as a plan to backstop all the depositors in failed Silicon Valley Bank, along with other extraordinary measures, failed to boost bank shares. In Australia, the S&P/ASX 200 fell 0.75%, largely led by losses in the banking sector. In Japan, the Nikkei futures contract in Chicago was at 27,365, while its counterpart in Osaka was at 27,230 against the Nikkei 225's last close at 27,832.96.

☆ Supercore inflation: Why the Fed suddenly cares about your barbershop and plumbing bills
▼ + stars: | 2023-03-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

Hence, supercore inflation equals the inflation of a basket of goods and services, minus the food and energy inflation, and minus the housing inflation. This ultra-focussed lens is what makes the set of prices in the inflation measure "supercore." supercore inflation, "may be the most important category for understanding the future evolution of core inflation," Fed Chair Jerome Powell said in November. "Traditionally, the Fed focused on core inflation because the components were deemed to be less volatile — and by extension, transitory. Not all economists think supercore inflation is all it's hyped up to beBut not all economists are convinced about the focus on supercore inflation.

Storm clouds are seen over the city skyline on October 01, 2021 in Sydney, Australia. Asia-Pacific markets traded lower on Monday, as U.S. regulators announced plans to backstop both depositors and financial institutions associated with Silicon Valley Bank, seen as a move to stem further systemic risk. Silicon Valley Bank last week was shuttered by regulators, after customers withdrew a staggering $42 billion of deposits by the end of Thursday. In Australia, the S&P/ASX 200 fell 0.24%, while Japanese markets opened lower. The Nikkei futures contract in Chicago was at 27,635, while its counterpart in Osaka was at 27,530 against the Nikkei 225's last close at 28,143.97.

☆ TikTok's rising stars every year since 2019 show how much the app has changed — and stayed the same
▼ + stars: | 2023-03-10 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +2 min

When TikTok first gained popularity, it was known for lip syncing, dancing, and viral challenges. We used data from Famous Birthdays to see the breakout TikTokers each year since 2019. TikTok's first homegrown influencers, like Charli D'Amelio and Addison Rae Easterling, grew in popularity with dancing and lip syncing videos filmed from their childhood bedrooms. From analyzing searches on its platform, Famous Birthdays is able to identify which creators are rising in real time. Here were the rising stars on TikTok each year since 2019, according to data from Famous Birthdays:

At least 10 European VC funds have told their founders to pull funds out of Silicon Valley Bank. Silicon Valley Bank's woes spread overseas on Friday morning as tech investors in Europe followed their US peers and advised founders to pull their cash from the bank. The bank's shares plummeted 60% amid concerns among investors and founders about the safety of their cash. The bank has been a stalwart in the tech industry over the past 40 years, acting as a banking partner and investor for startups across the world. Castiglione said that UK funds were only "screwed" if Europe followed suit with the "US panic contagion."

☆ South Korea proposes public foundation to resolve forced labour dispute with Japan
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +3 min

[1/5] South Korean Foreign Minister Park Jin speaks during a briefing announcing a plan on Monday to resolve a dispute over compensating people forced to work under Japan's 1910-1945 occupation of Korea, at the Foreign Ministry in Seoul, South Korea, March 6, 2023. REUTERS/Kim Hong-Ji/PoolSEOUL, March 6 (Reuters) - South Korea announced a plan on Monday to resolve a dispute over compensating people forced to work under Japan's 1910-1945 occupation of Korea, although victims groups have expressed doubts. Under the plan, South Korea would compensate former forced labourers through a public foundation funded by private-sector companies, Foreign Minister Park Jin told a briefing. Park said that he believes the Japanese government would not prevent Japanese companies from voluntarily contributing. Reporting by Josh Smith, Soo-hyang Choi, and Ju-min Park in Seoul and Yoshifumi Takemoto in Tokyo.

☆ Nine years on, families urge new search for missing Malaysia plane MH370
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Family members of the victims pose for a group picture with a debris of the missing Malaysia Airlines flight MH370 during its sixth annual remembrance event in Putrajaya, Malaysia, March 7, 2020. REUTERS/Lim Huey Teng/File PhotoKUALA LUMPUR, March 5 (Reuters) - Families of those on board Malaysia Airlines flight MH370, which disappeared mysteriously nine years ago, called on the Malaysian government on Sunday to allow U.S. seabed exploration firm Ocean Infinity to mount a new search for the missing plane. The fate of flight MH370 became one of the world's greatest aviation mysteries when it disappeared en route from Kuala Lumpur to Beijing on March 8, 2014. In 2018, Malaysia engaged Ocean Infinity to search for the aircraft in the southern Indian Ocean, offering to pay up to $70 million if it found the plane. Ocean Infinity and Malaysia's transport ministry did not immediately respond to a request for comment.

☆ South Korean romance reality shows boom, but marriage no longer the end game
▼ + stars: | 2023-03-05 | by ( Jihoon Lee | ) www.reuters.com time to read: +5 min

[1/5] Choi Seo-eun, a participant in Single's Inferno 2 takes a selfie with her fans during a fan meeting event in Seoul, South Korea, February 11, 2023. While official statistics on their numbers are not kept, unmarried couples living together no longer raise eyebrows in South Korea. And while romance reality shows may be all the rage, a substantial number of Koreans also appear prepared to eschew relationships altogether. Even on dating shows like Netflix's (NFLX.O) hit "Single's Inferno" which transports young people to a deserted island, most of the shows' content revolves around long conversations between participants. The conversations in and around dating and relationship shows are good for South Korea, says Lim Myung-ho, a professor of psychology at Dankook University.

[1/5] Elderly visitors enjoy the sunshine, at a nursing home of Lendlease's Ardor Gardens in Shanghai, China February 27, 2023. Lim says "stigma" around retirement homes in China is quickly disappearing. About 4% of people aged 65 and over in Britain live in retirement homes, according to information service Lottie. Ding Hui, China managing director at Australian real estate firm Lendlease (LLC.AX), expects demand for retirement homes to rise sharply in the next five to 10 years. Government-run nursing homes with basic facilities in Shanghai and Beijing are much cheaper, at about 2,000 yuan ($290) a month.

Asia-Pacific markets are set to rise on Friday after Wall Street's rally overnight as investor concerns over higher U.S. interest rates continued to linger. Japanese markets are set to open higher, with the Nikkei futures contract in Chicago at 27,710, and its counterpart in Osaka at 27,700 against the Nikkei 225's last close at 27,498.87. Key economic data is set to come out across the region, with Japan seeing its unemployment rate for January come in at 2.4%, the lowest level since February 2020. The country will also see the release of its services purchasing managers index for February by au Jibun Bank. China will release its services PMI data for February from Caixin, while a private survey on factory activity for February will be out in India on Friday.

Seoul city skyline and landmark Namsan tower (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)Asia-Pacific markets are set to trade mixed as U.S. treasury bond yields briefly topped 4% overnight on Wall Street, weighing equities down. In Australia, the S&P/ASX 200 opened 0.21% higher on Thursday after seeing a marginal dip on Wednesday. in Japan, markets are headed for a lower open as the Nikkei futures contract in Chicago stood at 27,485, while its counterpart in Osaka was at 27,480 against the Nikkei 225's last close at 27,516.53. South Korea will release its factory activity for February from S&P Global, following news that its industrial output fell 12.7% in January on an annualized basis, lower than analysts expectations of 8.9%. Singapore is also expected to release its factory activity data for February.

Asia-Pacific markets are headed for lower open on Wednesday as investors await a slew of key economic data across the region. In Australia, the S&P/ASX 200 was down 0.54% as the country reports its gross domestic product data for the fourth quarter of 2022 and the full year. In Japan, the Nikkei futures contract in Chicago was at 27,400, while its counterpart in Osaka was at 27,420 against the Nikkei 225's last close at 27,445.56. China, India and Japan will also all see their factory activity numbers for February come in. Elsewhere, South Korean markets are closed due to the country's independence day, but it expected to release its preliminary estimates for its trade numbers in February, as well as its industrial output figures for January.

The Sydney Opera House, foreground, and buildings in the financial district stand illuminated at dusk in Sydney, Australia Photographer: Cole Bennetts/Bloomberg via Getty ImagesAsia-Pacific markets are set to rise on Tuesday ahead of key economic releases in the region. Japan will release its retail sales data on Tuesday, which is expected come in higher at 4%, according to economists. In Australia, the S&P/ASX 200 rose 0.35% ahead of its January retail sales data release. Economists expect retail sales to come in at 1.5% higher compared to December. India will release its gross domestic product figures for the fourth quarter of 2022 later today, forecasted to show a 4.6% rise.

☆ Asia markets set to fall after Wall St logs worst week for the year
▼ + stars: | 2023-02-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Tokyo Tower, center, stands illuminated in Tokyo, Japan, on Wednesday, Oct. 23, 2019. Under Abenomics, as its known, the price goal was supposed to be achieved in just two years. Photographer: Keith Bedford /Bloomberg via Getty ImagesAsia Pacific markets are set to start the week lower on Monday after major indexes on Wall Street recorded their worst week for 2023. In Australia, the S&P/ASX 200 opened 0.95% lower, while Japanese markets are also headed for a lower open. Japan will also release its unemployment numbers later in the week.

☆ Putin's war in Ukraine brought chaos and change to the global energy market. These 4 charts show how the conflict transformed the oil and gas landscape.
▼ + stars: | 2023-02-24 | by ( George Glover | Zinya Salfiti | ) www.businessinsider.com time to read: +6 min

These four charts show how the war has changed global energy markets over the past year. Here are four charts that capture the most striking changes that took hold in oil and gas markets over the past year. Russia has found other oil buyersBut Russia has still managed to find other buyers for its oil. India too has aggressively ramped up its purchases of Russian oil and now imports 1.2 million barrels each day, according to Vortexa. "The natural gas market has become even more global as demand for liquefied natural gas continues to rise," said Ole Hansen, head of commodity strategy at Saxo Bank.

Search resuls for: "lim"

25 mentions found