DIRS.INFO The most relevant business & tech news

☆ U.S. import prices rebound; export prices fall
▼ + stars: | 2023-01-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Summary Import prices rebound 0.4% in DecemberCore import prices increase 0.4%Export prices decrease 2.6%WASHINGTON, Jan 12 (Reuters) - U.S. import prices unexpectedly increased in December after five straight monthly decreases, boosted by higher costs for natural gas and food, suggesting that the fight against inflation would be protracted even as consumer prices are trending lower. Import prices rebounded 0.4% last month after declining 0.7% in November, the Labor Department said on Friday. In the 12 months through December, import prices increased 3.5% after rising 2.7% in November. The government reported on Thursday that monthly consumer prices fell for the first time in more than 2-1/2 years in December. CORE IMPORT PRICES UPExcluding fuel and food, import prices rebounded 0.4%, posting their first monthly gain since April 2022.

☆ U.S. inflation subsiding as consumer prices fall; labor market still tight
▼ + stars: | 2023-01-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Cooling inflation could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. "To be sure, the efforts by the Fed have begun to bear fruit, even though it will be a while before the promised land of a 2% inflation rate is here." Food prices climbed 0.3%, the smallest gain in nearly two years, after rising 0.5% in the prior month. Fruit and vegetable prices fell as did those for dairy products, but meat, poultry and fish cost more. The labor market remains tight, with the unemployment rate back at a five-decade low of 3.5% in December, and 1.7 jobs for every unemployed person in November.

☆ U.S. inflation cooling as consumer prices fall; labor market still tight
▼ + stars: | 2023-01-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The report could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. "To be sure, the efforts by the Federal Reserve have begun to bear fruit, even though it will be a while before the promised land of a 2% inflation rate is here." Food prices climbed 0.3%, the smallest gain since March 2021, after rising 0.5% in the prior month. Excluding the volatile food and energy components, the CPI climbed 0.3% last month after rising 0.2% in November. The labor market, which has remained tight, will be key in this regard.

☆ U.S. consumer prices fall in December; weekly jobless claims edge down
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +4 min

[1/2] A man arranges produce at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. Gasoline prices fell 12.5% in December, according to data from the U.S. Energy Information Administration. Prices for used cars and trucks are also declining as the supply of motor vehicles improves. Part of the surprise drop in claims reflects challenges adjusting the data for seasonal fluctuations at the start of the year.

☆ The Wall Street Journal parent Dow Jones is laying off staff as it faces an economic downturn
▼ + stars: | 2023-01-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Layoffs are coming to The Wall Street Journal parent Dow Jones, according to people familiar with the situation. Layoffs are coming to The Wall Street Journal parent Dow Jones, according to people familiar with the situation, with one knowledgeable source saying the cuts amounted to less than 2% of staff. A Dow Jones spokesperson emailed a statement saying: "Dow Jones is focused on continuing to build on the momentum it has generated across its wide range of leading brands and platforms. The Dow Jones cuts come as the Journal has just appointed a new editor, Emma Tucker, from fellow News Corp. title The Sunday Times in London. This article was originally published on the morning of January 11 and has been updated to include Dow Jones' statement.

Insider identified 75 of the most powerful execs at the streamer, in an interactive org chart. Product chief Greg Peters took on additional duties as chief operating officer and has since broadened his purview to include gaming. Former PepsiCo exec Sergio Ezama joined in 2021 to become Netflix's chief talent officer. Insider identified 75 of the most powerful executives now at Netflix. They include C-suite executives finance chief Spencer Neumann, as well as business leads like Bajaria and movie boss Scott Stuber.

☆ U.S. wholesale inventories rise strongly in November as demand falters
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 10 (Reuters) - U.S. wholesale inventories increased strongly in November, lifting the inventories-to-sales ratio to the highest level in nearly 2-1/2 years, as higher borrowing costs depressed sales. The Commerce Department said on Tuesday that wholesale inventories rose 1.0% as previously reported last month. Wholesale inventories accelerated 20.9% in November on a year-on-year basis. Wholesale inventories, excluding autos, increased 1.0% in November. Rising stocks of unsold goods are forcing some retailers to offer big discounts, which over time will help to lower inflation.

☆ Amazon 'Thursday Night Football' audiences fell short of estimates by 25%, and the tech giant is scrambling to make it up to advertisers
▼ + stars: | 2023-01-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Amazon is working to make advertisers whole after "Thursday Night Football" audiences fell short. Amazon has been scrambling to make advertisers whole for its "Thursday Night Football" broadcasts on Prime Video after audiences fell short of estimates, according to ad agency sources. For the 14-game season, "TNF" on Prime Video averaged 9.6 million viewers, according to Nielsen data shared by Amazon Monday. "TNF" viewership on Prime Video had a median age of 47, according to Amazon — 7 years younger than the NFL average on linear TV. But advertisers are likely to give Amazon a pass overall, given this was the first season for a streaming-only "TNF."

☆ Classified documents from Biden's vice presidency found at think tank
▼ + stars: | 2023-01-09 | by ( Steve Holland | Kanishka Singh | ) www.reuters.com time to read: +2 min

REUTERS/Henry RomeroWASHINGTON (Reuters) -Classified documents from Joe Biden’s vice-presidential days were discovered in November by the U.S. president’s personal attorneys at a Washington think tank, a White House lawyer said on Monday. He added the White House was cooperating with the Justice Department and the National Archives. The Justice Department, the National Archives and the think tank did not immediately respond to a request for comment. Sauber’s statement did not mention the number of the classified documents or what they contained or their level of classification. The Justice Department is separately probing former President Donald Trump’s handling of highly sensitive classified documents that he retained at his Florida resort after leaving the White House in January 2021.

☆ Netflix's new ad tier plan appears to be working
▼ + stars: | 2023-01-09 | by ( Lucia Moses | Ryan Joe | ) www.businessinsider.com time to read: +5 min

Netflix's new ad-supported tier accounted for 13% of subscribers in its first month, new Evercore research found. Evercore believes the ad tier is driving incremental subscriber growth for Netflix. The firm upgraded its rating on Netflix in September based on its ad-supported tier and plan to crack down on password-sharing, which are expected to drive earnings and share price. Netflix's ad tier entered a crowded field of streaming services, including ad-supported versions, from Disney's Hulu to Comcast's Peacock to Warner Bros. Netflix's ad tier was followed close behind Disney+ with Ads launching in December, and Warner plans to launch a combined Discovery+-HBO Max app in spring with an ad-supported tier.

☆ Fritz delivers as U.S. win inaugural United Cup crown
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +3 min

[1/5] Tennis - United Cup - Ken Rosewall Arena, Sydney, Australia - January 8, 2023 Taylor Fritz of the U.S. reacts during his match in the final against Italy's Matteo Berrettini REUTERS/Asanka Brendon RatnayakeSYDNEY, Jan 8 (Reuters) - Taylor Fritz edged Matteo Berrettini 7-6(4) 7-6(6) as the United States justified their status as favourites to outclass Italy in a one-sided final at the inaugural United Cup mixed team tournament on Sunday. It's amazing for the team to win this event. We came in with really high hopes, or at least I did," Fritz said. SHOULDER INJURYA shoulder injury forced the 20-year-old Musetti to concede to Tiafoe after his first serve of the second set. The Americans top the table with most titles in the Davis Cup (32), Billie Jean King Cup (18) and Hopman Cup (6).

☆ Netflix's ad tier drove 13% of subscriptions in its first month, new survey shows
▼ + stars: | 2023-01-06 | by ( Lucia Moses | Ryan Joe | ) www.businessinsider.com time to read: +5 min

Netflix's new ad-supported tier accounted for 13% of subscribers in its first month, new Evercore research found. Evercore believes the ad tier is driving incremental subscriber growth for Netflix. Netflix's new ad-supported tier accounted for 13% of the streamer's subscribers in its first month, with about half being new or returning users to the streamer, according to new research from Evercore ISI. Netflix's ad tier entered a crowded field of streaming services, including ad-supported versions, from Disney's Hulu to Comcast's Peacock to Warner Bros. Netflix's ad tier was followed close behind Disney+ with Ads launching in December, and Warner plans to launch a combined Discovery+-HBO Max app in spring with an ad-supported tier.

☆ U.S. factory orders tumble in November on aircraft
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +2 min

The Commerce Department said on Friday that factory orders dropped 1.8% after gaining 0.4% in October. The plunge in factory orders was driven by a 6.3% drop in bookings for transportation equipment, which followed a 1.9% increase in October. Transportation equipment orders were weighed down by a 36.4% tumble in orders for civilian aircraft. Orders for defense aircraft fell 8.6%. Motor vehicle orders rose 0.6%.

☆ Strong U.S. jobs, wages growth expected in December
▼ + stars: | 2023-01-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

However, job growth would far exceed the pace needed to keep up with growth in the working-age population, comfortably in the 150,000-300,000 range that economists associate with tight labor markets. Household employment decreased in October and November, leading some economists to speculate that overall job growth was overstated. Yet the household survey tends to be volatile and most economists expect household employment would be revised toward nonfarm payrolls. "We would not be surprised to see an even larger rebound in household employment in December or over the coming months." But the trend in employment growth could slow significantly by mid-year.

☆ U.S. job growth solid in December; unemployment rate falls to 3.5%
▼ + stars: | 2023-01-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 6 (Reuters) - The U.S. economy maintained a strong pace of job growth in December, with the unemployment rate falling to 3.5%, but higher borrowing costs as the Federal Reserve fights inflation could see the labor market momentum slowing significantly by mid-year. Monthly job growth is well above the pace needed to keep up with growth in the working age population. The unemployment rate dropped to 3.5% from 3.6% in November. The government revised the seasonally adjusted data for the household survey, from which the unemployment rate is derived, for the last five years. The labor market has remained strong, despite the Fed embarking last March on its fastest interest rate-hiking since the 1980s.

☆ U.S. service sector contracts in December, price increases slow - ISM survey
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Friday its non-manufacturing PMI dropped to 49.6 last month from 56.5 in November. It was the first time since May 2020 that the services PMI fell below the 50 threshold, which indicates contraction in the sector that accounts for more than two-thirds of U.S. economic activity. Outside the COVID-19 pandemic slump, this was the weakest services PMI reading since late 2009. The weakness in the services sector came in the wake of another ISM survey this week showing manufacturing slumping for a second straight month in December. The ISM survey's gauge of new orders received by services businesses fell to 45.2 from 56.0 in November.

☆ U.S. weekly jobless claims at three-month low; layoffs drop in December
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +3 min

Economists polled by Reuters had forecast 225,000 claims for the latest week. Through the volatility, claims have remained at very low levels despite a raft of layoffs in the technology sector and interest-rate sensitive industries like housing and finance. Economists speculated that severance packages and still-strong demand for labor, which made it easier for laid off workers to get another job, were keeping claims low. They also say companies are likely to slow hiring before embarking on layoffs after struggling to find labor during the pandemic. (This story has been corrected to say "three-month" low, in the headline and paragraph 1)Reporting by Lucia Mutikani; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. trade deficit shrinks sharply as imports tumble
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 5 (Reuters) - The U.S. trade deficit contracted by the most in nearly 14 years in November as slowing domestic demand amid higher borrowing costs depressed imports. The trade deficit decreased 21.0% to $61.5 billion, the lowest level since September 2020, the Commerce Department said on Thursday. The percentage decline in the trade gap was the largest since February 2009. Imports tumbled 6.4% to $313.4 billion, with goods dropping 7.5% to $254.9 billion. A smaller trade deficit contributed 2.86 percentage points to the economy's 3.2% annualized growth pace in the third quarter.

☆ U.S. private payrolls beat expectations in December, ADP says
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 5 (Reuters) - U.S. private payrolls increased more than expected in December, pointing to still-strong demand for labor despite higher interest rates. Private employment increased by 235,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private jobs increasing 150,000. It has been a poor predictor of private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 180,000 jobs in December after rising by 221,000 in November.

☆ U.S. job openings fall less than expected in November
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 4 (Reuters) - U.S. job openings fell moderately in November as the labor market remains tight, which could see the Federal Reserve increasing interest rates to a higher level than currently anticipated. Job openings, a measure of labor demand, slipped 54,000 to 10.458 million on the last day of November, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday. Economists polled by Reuters had forecast 10 million job openings. The Fed is engaged in its fastest interest rate-hiking cycle since the 1980s as tries to dampen demand, including for labor, in order to tame high inflation. Reporting by Lucia Mutikani; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. manufacturing sector contracts, prices decline in December-ISM
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +3 min

The ISM survey's forward-looking new orders sub-index tumbled to 45.2, the lowest reading since May 2020, from 47.2 in November. The survey's measure of supplier deliveries fell to 45.1 from 47.2 in November. The ISM survey's measure of prices paid by manufacturers dropped to 39.4 from 43.0 in November. The ISM survey's measure of factory employment rebounded to 51.4 from 48.4 in November. According to a Reuters survey of economists, manufacturing employment likely increased by 9,000 jobs in December after rising 14,000 in November.

☆ BuzzFeed's $300M purchase of Complex promised to grow both brands, but insiders say strategies have clashed and Complex's culture is being 'completely gutted'
▼ + stars: | 2023-01-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Complex insiders worry that the cuts threaten their brand's culture and future. Clashing video strategies as some fear Complex culture is being 'completely gutted'Kevin Hart appeared on Complex's "Hot Ones" series. Before joining with BuzzFeed, Complex's then-CEO Rich Antoniello had conversations with Vice Media and Vox Media. But Complex insiders felt especially aggrieved when, this fall, BuzzFeed announced a global expansion for ComplexCon. To Complex insiders, BuzzFeed's plan to take the event to Australia, Europe, and Asia simultaneously was unrealistic and under-resourced.

☆ Berrettini inspires Italy to big victory in United Cup
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +3 min

In a rematch of their U.S. Open quarter-final and Gstaad final, where world number three Ruud prevailed last year, it was Berrettini who took control of the match on the back of his powerful serve to seal a 6-4 6-4 Group E win. I knew I had to serve my best," Berrettini, who fired 10 aces and won 88% of points on his first-serve, said. The fourth semi-finalist will be a runner-up with the best record from their three matches in the $15 million event. World number 10 Hubert Hurkacz earlier beat Swiss veteran Stan Wawrinka 7-6(5) 6-4 to send Poland on their way. Maria Sakkari earned Greece a spot in the Perth final from Group A with a 6-1 7-5 win over Belgium's Elise Mertens.

☆ U.S. construction spending rebounds in November
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

The Commerce Department said on Tuesday that construction spending climbed 0.2% in November after falling 0.2% in October. Economists polled by Reuters had forecast construction spending would decrease 0.4%. Construction spending increased 8.5% on a year-on-year basis in November. Spending on private construction projects advanced 0.3% after declining 0.7% in October. Investment in state and local government construction projects declined 0.7%, while federal government construction spending surged 7.2%.

☆ 21 top CNN execs who are on the market after Warner Bros. Discovery layoffs and the shutdown of CNN+ in 2022
▼ + stars: | 2023-01-02 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +1 min

After the Warner Bros. Discovery merger and shutdown of streamer CNN+, CNN lost a slew of top executives. Insider identified 21 accomplished pros from across the network who are on the market. It was a year of sweeping layoffs and organizational changes at CNN in 2022 as Warner Bros. Earlier in 2022, CNN cut 239 jobs following the abrupt closure of news streamer CNN+.

Search resuls for: "Lucia"

25 mentions found