DIRS.INFO The most relevant business & tech news

☆ Merck fourth quarter tops expectations on strong COVID pill sales
▼ + stars: | 2023-02-02 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

Feb 2 (Reuters) - Merck & Co (MRK.N) on Thursday reported higher-than-expected fourth-quarter earnings on strong sales of its COVID-19 antiviral pill molnupiravir in Asia. The U.S. drugmaker said its sales in the quarter were $13.83 billion, up from $13.52 billion a year earlier. Analysts had previously forecast around $825 million for 2023 molnupiravir sales. Pfizer (PFE.N) reported sales of around $18.9 billion for its antiviral treatment Paxlovid in 2022 and forecast 2023 sales of around $8 billion. The drugmaker forecast adjusted 2023 earnings of $6.80 to $6.95 a share on sales of $57.2 billion to $58.7 billion.

☆ NATO chief urges closer ties with Japan to defend democracy
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: +3 min

General Jens Stoltenberg (left) shakes hands with Japanese Prime Minister Fumio Kishida (right) on Jan. 31, 2023 in Tokyo, Japan. Stoltenberg visits Japan to strengthen bilateral ties between the country and the E.U. Calling it a "critical moment for NATO and for Japan," Stoltenberg, who is visiting Tokyo, said China and Russia are "leading an authoritarian pushback against international rules-based order." "China is not our adversary, but we must understand the scale of the challenge and work together to address it." Kishida said he and Stoltenberg agreed to advance ties in areas such as cyberspace, space, disinformation, and critical and emerging technology.

[1/2] Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. "If Taiwan falls into the sphere of influence of CCP, then the beacon of democracy will be destroyed. Speaking through a translator, You said about 50% of global shipping used the Taiwan Strait between the island and China, "so it has very important economic significance for the global trade." "And ... Taiwan has produced the best semiconductor chips and will be very important for global trade as well," he said. "So if Taiwan cannot be safeguarded very carefully, it will be very dangerous to global trade as well as global peace."

☆ US Marines are taking position on 'key terrain' around Taiwan as tensions rise with China
▼ + stars: | 2023-02-01 | by ( Christopher Woody | ) www.businessinsider.com time to read: +11 min

The US and Japan said in January that a Marine Littoral Regiment will be set up in Japan by 2025. That unit, the 12th Marine Littoral Regiment, is the second of three Marine Littoral Regiments planned for the Indo-Pacific region, the first of which was activated in March 2022 and is based in Hawaii. Within weeks of its activation, the 3rd Marine Littoral Regiment was participating in the US-Philippine military exercise Balikatan. New threat, new forceUS Marines provide security for an amphibious landing during Balikatan 22 in northern Luzon in March 2022. US Marines during an amphibious landing as part of Balikatan 22 in northern Luzon in March 2022.

☆ New US Marine units are taking position on 'key terrain' around Taiwan as tensions rise with China
▼ + stars: | 2023-02-01 | by ( Christopher Woody | ) www.businessinsider.com time to read: +11 min

The US and Japan said in January that a Marine Littoral Regiment will be set up in Japan by 2025. A Marine Littoral Regiment will also hold a major exercise in the northern Philippines this spring. That unit, the 12th Marine Littoral Regiment, is the second of three Marine Littoral Regiments planned for the Indo-Pacific region, the first of which was activated in March 2022 and is based in Hawaii. Within weeks of its activation, the 3rd Marine Littoral Regiment was participating in the US-Philippine military exercise Balikatan. Members of 3rd Marine Littoral Regiment in Hawaii in August 2022.

☆ Here's what happens when US Navy special operators go up against dolphins trained to keep them out of sensitive bases
▼ + stars: | 2023-02-01 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The US Navy has been training dolphins and sea lions to detect undersea threats since the 1960s. "Those mammals were very real and very scary," a former US Navy SEAL officer told Insider. The program tested out a number of animals but found dolphins and sea lions to be the best suited for the mission. The US military wasn't the only one using dolphins and sea lions to protect its warships and ports. BUD/S course instructors "have a sadistic tendency to scare the shit out of students before open-water swims," the former Navy SEAL officer said.

☆ U.S. opens embassy in Solomon Islands, Blinken says
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 1 (Reuters) - The United States has opened an embassy in the Solomon Islands after a 30-year absence as it seeks to boost diplomatic relations in the Pacific as a counter to China. Secretary of State Antony Blinken announced plans to open a diplomatic mission in the Pacific island nation during a visit to the region last year. The last U.S. embassy in the Solomons closed in 1993 amid post-Cold War budget cuts and the United States was represented there by an ambassador based in Papua New Guinea. In a statement on Wednesday, Blinken said the State Department informed the Solomon Islands' government that the opening of the new embassy in the capital Honiara became official as of Jan. 27. The reopening of the embassy in the Solomons comes as Washington has been negotiating the renewal of cooperation agreements with three key Pacific island nations, the Marshall Islands, the Federated States of Micronesia and Palau.

Jan 31 (Reuters) - Caterpillar Inc's (CAT.N) fourth-quarter earnings slid by 29%, the company reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether's margins. The Texas-based company noted that profit was also hit by a $925 million "goodwill impairment" charge and margin-eroding restructuring costs. Strong pricing that the company implemented over the past two years in an effort mitigate rising manufacturing costs have sustained top-line growth. Caterpillar's sales and revenue for the quarter rose 20% to $16.6 billion despite weaker sales in the Asia Pacific region. Operating profit rose 4% to 1.7 billion while free cash flow from the ME&T division came in at $5.8 billion.

☆ Despite an unwarranted share slide, industrial powerhouse Caterpillar delivers a solid Q4
▼ + stars: | 2023-01-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Moreover, breaking the top line down, consolidated sales growth is attributable to solid double-digit growth in all three primary operating segments. That's in line with our mantra of owning companies that do things, make stuff, and generate real profits and cash flow that will be returned to investors. Excluding China, management expects growth in the Asia/Pacific region "due to public infrastructure spending and supportive commodity prices." Energy & transportation: Management predicts "sales growth due to strong order rates in most applications," citing "strength in demand in order intakes for the year." Caterpillar generated full-year free cash flow of $5.8 billion and returned a total of $6.7 billion to shareholders via share repurchases and dividends.

[1/3] NATO Secretary General Jens Stoltenberg shakes hands with South Korean Foreign Minister Park Jin during their meeting at the Foreign Ministry in Seoul, South Korea January 29, 2023. Kim Min-Hee/Pool via ReutersSEOUL, Jan 30 (Reuters) - NATO Secretary-General Jens Stoltenberg urged South Korea on Monday to increase military support to Ukraine, citing other countries that have changed their policy of not providing weapons to countries in conflict after Russia's invasion. Speaking at the Chey Institute for Advanced Studies in Seoul, he thanked South Korea for its non-lethal aid to Ukraine, but urged it to do more, adding there is an "urgent need" for ammunition. "I urge the Republic of Korea to continue and to step up on the specific issue of military support," he said. Last year South Korea opened its first diplomatic mission to NATO, vowing to deepen cooperation on non-proliferation, cyber defence, counter-terrorism, disaster response and other security areas.

☆ European markets head for lower open as investors focus on Fed meeting this week
▼ + stars: | 2023-01-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a lower open Monday as investors focus on the next U.S. Federal Reserve meeting that begins Tuesday. The two-day meeting will conclude with the central bank's Federal Open Market Committee announcing its latest interest rate decision. The Fed is expected to hike rates by one-quarter of a percentage point. Investors will be looking for clues about how much higher the central bank will take rates in the fight against inflation. U.S. stock futures were modestly lower on Sunday evening as investors geared up for a week of key corporate earnings and the possible interest rate hike from the Fed.

☆ NATO's Stoltenberg arrives in S.Korea to deepen alliance's ties in Asia
▼ + stars: | 2023-01-29 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

In Seoul, Stoltenberg is due to meet with Foreign Minister Park Jin, Minister of National Defence Lee Jong-Sup, and other senior officials, the North Atlantic Treaty Organization said in a statement. Yoon and Kishida became the first leaders from their countries to attend a NATO summit, joining alliance leaders as observers last year. Following the summit, South Korea opened its first diplomatic mission to NATO, vowing to deepen cooperation on non-proliferation, cyber defence, counter-terrorism, disaster response and other security areas. Chinese state media had warned against South Korea and Japan attending the NATO summit and criticised the alliance's broadening partnerships in Asia. North Korea has said NATO involvement in the Asia-Pacific region would import the conflict raging in Europe.

☆ Australia to speed up purchase of sea mines to shore up maritime defence
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Jan 23 (Reuters) - Australia said on Monday it would accelerate plans to buy advanced sea mines to protect its maritime routes and ports from "potential aggressors" amid China's plans to increase its influence in the Pacific region. The so-called smart sea mines are designed to differentiate between military targets and other types of ships, a defence department spokesperson said in a statement. "(Australia) is accelerating the acquisition of smart sea mines, which will help to secure sea lines of communication and protect Australia's maritime approaches," it said. The federal government will soon announce a contract to buy "a substantial number" of sea mines from a European weapons supplier, the report said, citing unidentified defence industry sources. So we have looked at missile defence, we're looking at cyber security, we're looking at all of these issues," Albanese said.

☆ Deutsche Bank Names New Compliance Chief as Part of Reshuffle
▼ + stars: | 2023-01-19 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Laura Padovani will join Deutsche Bank on April 1 as its group chief compliance officer and head of compliance, according to a memo seen by The Wall Street Journal. Ms. Padovani spent seven years at Barclays, most recently as its compliance chief, and 20 years at American Express. Mr. Tagné, who has spent more than six years at Deutsche Bank, will also take on the role of deputy chief compliance officer, according to the memo. Germany’s top financial watchdog, BaFin, in November threatened to fine Deutsche Bank if it didn’t implement controls against money laundering by mid-2023. Deutsche Bank was fined $150 million in 2020 by the New York Department of Financial Services for failing to properly monitor its dealings with Epstein.

☆ Luxury group Richemont's sales miss forecasts after China sales plunge
▼ + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com time to read: +2 min

Overall, Richemont's sales rose 8% to 5.4 billion euros ($5.82 billion) in the three months to the end of December, up from 4.98 billion euros a year earlier. The figure missed the 5.67 billion euros forecast by analysts. When currency movements were excluded, the company's sales increased by 5%. In Japan, sales increased by 30% during the quarter, aided by "solid" domestic sales and a gradual return of tourism. In Europe sales increased by 17% helped by strong local demand and returning tourists, particularly from the Middle East and the United States.

☆ Australia to spend $2 billion on 40 U.S. Black Hawk choppers
▼ + stars: | 2023-01-18 | by ( Lewis Jackson | ) www.reuters.com time to read: +1 min

SYDNEY, Jan 18 (Reuters) - Australia confirmed on Wednesday it would buy 40 Black Hawk military helicopters from the United States for an estimated A$2.8 billion ($1.96 billion), finalising a sale signed off by the U.S. State Department last August. The Lockheed Martin Corp (LMT.N) UH-60M Black Hawks will replace the Army's fleet of MRH-90 Taipan choppers, which have been plagued for years by maintenance issues. "We're confident that we can get that from the Black Hawks. A 2021 decision to ditch French-made submarines for nuclear submarines to be built by the United States and Britain sparked a bitter diplomatic dispute with France. Australian industry will be involved in logistics, warehousing, engineering as well as the helicopter's global supply chain, said the Defence Department in a statement.

☆ Recession fears won't stop 'the big quit' in 2023, says LinkedIn
▼ + stars: | 2023-01-17 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

This is based on the latest findings from LinkedIn's Workforce Confidence Index research conducted among more than 4,000 employees across Singapore, Australia and India. "As professionals expand their skill sets, they are gaining more transferable skills that can be applied to multiple job roles and improves their likelihood of securing a job," Chhabria added. Pooja Chhabria career expert, LinkedInThat has set the stage for post-pandemic work and these desires will not go away anytime soon. This is why employees may not be looking to stay at their job for a long time, according to LinkedIn. Pooja Chhabria career expert, LinkedIn

Issuance of bonds tied to environmental, social and governance (ESG) themes grossed $142 billion in Asia Pacific last year, barely below the record $144 billion of 2021, according to data from Refinitiv. Major EM ESG issuance Asia, Europe and USParticipants say the 2022 issuance in Asia was fuelled on the supply side by the gargantuan task of greening Asia's energy grid and by low yuan interest rates in top issuer China, where investment from domestic institutions supported prices. Chinese entities issued 59.3% of the ESG bonds in the Asia-Pacific region in 2022, with total proceeds totaling $84 billion, up about 6% from $80 billion in 2021. "Domestic capital markets in Asia have been developing over many years, and are quite deep today," he said. Major EM ESG issuance Major EM ESG issuanceGlobally, ESG issuance fell last year as debt markets became turbulent, while investors pulled cash from funds devoted to sustainable investment for the first time in more than a decade as soaring prices for fossil fuel stocks, which they exclude, hurt their relative performance.

☆ U.S. and Japan agree to strengthen alliance, citing China and North Korea
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

WASHINGTON — The United States and Japan unveiled plans Wednesday to strengthen their alliance to help counter threats from North Korea and China, which they called the greatest security challenge in the region. From left, Japanese Defense Minister Yasukazu Hamada, Hayashi, Blinken and Secretary of Defense Lloyd Austin in Washington on Wednesday. In addition, the U.S. space agency NASA plans to sign a cooperation deal with Japan on Friday, they said. Austin noted that Wednesday’s agreement affirms America’s “ironclad commitment to defend Japan with a full range of capabilities, including nuclear” and underscores that Article 5 of the mutual security treaty applies to the Senkaku Islands. That would make its defense budget the world’s third largest — a dramatic shift in Tokyo’s priorities that reflects growing concerns about North Korea and potential Chinese military action against Taiwan.

☆ Italian, Japanese leaders agree to form "strategic partnership"
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Japanese Prime Minister Fumio Kishida and his Italian counterpart Giorgia Meloni hold a news conference at Chigi Palace, in Rome, Italy, January 10, 2023. REUTERS/Remo CasilliROME, Jan 10 (Reuters) - Italian Prime Minister Giorgia Meloni and her Japanese counterpart Fumio Kishida agreed at a meeting on Tuesday to strengthen ties in a range of spheres including the economy, trade and defence, the leaders said. "We have agreed to elevate our relations to the level of a strategic partnership," Meloni told reporters in a brief statement after the meeting in Rome. Among the fields of heightened cooperation, Kishida, speaking through an interpreter, cited diplomacy, investment, railways and cinema. (This story has been refiled to remove a typo in the lead)Reporting by Gavin Jones, editing by Crispian BalmerOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter further cuts staff overseeing global content moderation, Bloomberg reports
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +1 min

Jan 7 (Reuters) - Twitter Inc made further staff cuts in the trust and safety team handling global content moderation and in the unit related to hate speech and harassment, Bloomberg news reported on Saturday. Workers on teams handling policy on misinformation, global appeals and state media on the platform were also eliminated, the report added. Twitter's vice president of trust and safety, Ella Irwin, confirmed to Reuters that Twitter made some cuts in the trust and safety team on Friday night but did not give details. "We have thousands of people within Trust and Safety who work content moderation and have not made cuts to the teams that do that work daily," she said via email. The company was also was hit with a lawsuit last month that claimed the social media company disproportionately targeted female employees in layoffs.

Although international travel may not return immediately to pre-pandemic levels, companies, industries and countries that rely on Chinese tourists will get a boost in 2023, according to analysts. Elsewhere in the world, Cambodia, Mauritius, Malaysia, Taiwan, Myanmar, Sri Lanka, South Korea and Philippines are also likely to benefit from the return of Chinese tourists, according to research by Capital Economics. Saxon said he expected China’s outbound international travel to fully recover by the year end. “Generally, individuals are pragmatic and countries will welcome Chinese tourists due to their spending power,” he said, adding that countries may remove restrictions quickly when the Covid situation improves in China. “It will take time for international tourism to get going, but it will come rushing back, when it happens.”

LONDON, Jan 6 (Reuters) - March 2022 will go down in the history books as the moment the global nickel market broke down. The search is on for a new nickel price discovery process. Global Commodities Holdings (GCH) thinks it has a solution, a blast from the LME's own distant past that could have far-reaching consequences for industrial metals trading. This is self-evidently true of the LME nickel contract, which simply could not absorb the scale of short positions accumulated by China's Tsingshan Group. It may not just be nickel players keeping a close eye on GCH's proposed new metals pricing solution.

☆ Xi Jinping is 'preparing the Chinese people for war,' Trump-era National Security Adviser says
▼ + stars: | 2023-01-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

McMaster warned that Xi Jinping is preparing China for war. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyHerbert Raymond McMaster, a former National Security Adviser, said on Monday he believes Chinese President Xi Jinping is "preparing the Chinese people for war." McMaster urged the US to increase its military presence in the Asia Pacific region. In November, Xi urged the Chinese military to be ready for potential war and outlined a vision for the People's Liberation Army to become a world-class force by 2027. The Chinese president also denounced "foreign interference" with Taiwan — a veiled threat against the US that came after House Speaker Nancy Pelosi's August visit to Taipei.

The incident reflects what the U.S. calls a concerning trend of unsafe intercept practices by the Chinese military. The U.S. Air Force RC-135 aircraft was in international airspace on Dec. 21 when it was intercepted by a J-11 fighter jet from the Chinese navy, the U.S. Indo-Pacific Command said in a statement. The Chinese jet positioned itself about 10 feet from the RC-135’s wing and then drifted within 20 feet of its nose as the American plane maintained its course and speed, leading it to take evasive maneuvers. China claims sovereignty over most of the South China Sea, where it has territorial disputes with Vietnam, Malaysia, the Philippines and others. Austin also raised the issue at a meeting in November with Chinese Defense Minister Wei Fenghe.

Search resuls for: "Pacific Region"

25 mentions found