DIRS.INFO The most relevant business & tech news

☆ Prada to name former Luxottica chief Andrea Guerra as new CEO
▼ + stars: | 2022-12-06 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: The company's logo is seen at a Prada store in Zurich, Switzerland January 25, 2021. REUTERS/Arnd Wiegmann(Reuters) -Italy’s Prada said on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer. Guerra will be recommended as the new CEO at a board meeting next month by controlling shareholder Prada Holding S.p.A., the luxury company said in a statement,Reuters reported last week that the fashion group was set to hire Guerra in a top management role to ease a transition at the helm to the next generation of the founding family. After overseeing a successful turnaround since 2017 to reverse a slide in sales, Prada CEO Patrizio Bertelli, 76, said a year ago he planned to hand over the reins of the group he leads with wife Miuccia Prada Bianchi to their 34-year-old son Lorenzo. “This is a fundamental step we have decided to undertake, while completely engaged in the company, to contribute more to the evolution of the Prada Group and to ease the succession of Lorenzo Bertelli, the future leader of the Group,” they said.

☆ European markets head for a negative open as global sentiment remains subdued
▼ + stars: | 2022-12-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a negative open on Tuesday, with global sentiment subdued this week. The lower open anticipated in Europe comes after markets in the Asia-Pacific region were mixed overnight after Wall Street sold off Monday on fears that the U.S. Federal Reserve will keep increasing interest rates. Market observers are still largely expecting a 50 basis point increase to interest rates at the Fed's December meeting.

☆ With eye on China, US to boost military forces in Australia – and ‘invite’ Japan to join in
▼ + stars: | 2022-12-06 | by ( ) edition.cnn.com time to read: +4 min

The United States will increase the rotational presence of air, land and sea forces in Australia, including bomber aircraft and fighter jets, US Defense Secretary Lloyd Austin said Tuesday, amid shared concerns about China. Australia’s Northern Territory is already host to frequent military collaborations with the US. Thousands of US Marines rotate through the territory annually for training and joint exercises, started under former President Barack Obama. Just before last year’s AUSMIN talks, the US, United Kingdom and Australia created a security deal, known as AUKUS, that will provide Australia with the technology to deploy nuclear-powered submarines. The two sides said they had further discussions on that issue and Britain’s Defense Minister Ben Wallace will attend a first in-person meeting of AUKUS ministers on Wednesday in Washington.

☆ Explainer: Why U.S. airline pilot wages are outpacing global rises
▼ + stars: | 2022-12-05 | by ( Jamie Freed | ) www.reuters.com time to read: +4 min

U.S. domestic demand was only 0.8% below than 2019 levels in October, while globally, domestic travel demand was 22.1% lower. REGIONAL PILOT SHORTAGEThe steep pay rise on offer to Delta pilots follows a series of large increases at U.S. regional airlines that serve as feeders to major carriers. Uniquely among world markets, the United States requires pilots even at regional airlines to have a minimum of 1,500 hours of flying experience. Faced with growing shortages of entry-level pilots and rapid attrition of more experienced ones to major airlines, U.S. regional carriers have lifted pay rapidly. The increases put pressure on major airlines to ensure their entry-level pay attracts joiners from regional carriers to cover retirements and planned fleet growth.

☆ E-commerce tech startup Rokt valued at $2.4 bln in latest funding amid plans for IPO
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Tech startup Rokt said on Monday it raised its valuation to $2.4 billion in a secondary funding round led by investment firm Square Peg and asset manager Wellington Management, and is planning for an initial public offering encouraged by the e-commerce boom. Growth in e-commerce since the COVID-19 pandemic has led to a demand for marketing software companies such as Rokt. The company uses artificial intelligence and machine learning to analyze online shoppers and their engagement with products and services. "This has further propelled Rokt's growth and we're pleased to see this expression of support from existing investors as Rokt looks towards an IPO," Buchanan added. New York-based Rokt was valued at $1.95 billion in December last year after it raised capital in a Series E funding round led by Tiger Global that also saw participation from Wellington Management, Whale Rock Capital Management, Pavilion Capital and Square Peg.

☆ This California city asked where its recycling went. The answer wasn’t pretty.
▼ + stars: | 2022-12-01 | by ( Saqib Rahim | ) www.nbcnews.com time to read: +6 min

In recent years the global plastic trade has shrunk amid new controls by rich and developing countries alike. U.S. plastic waste exports to Asia fell to 330 million pounds in 2021, according to government data, half their 2017 level. But even these reduced volumes, environmental groups charge, can overwhelm developing countries that lack the facilities to manage them. In May, city staff asked to divert some of Palo Alto’s waste streams to facilities in Louisiana and Southern California. The second lesson, City Manager Ed Shikada said, is that Palo Alto can’t transform the global recycling system alone.

☆ China accuses UK lawmakers of "gross interference" over Taiwan visit
▼ + stars: | 2022-12-01 | by ( Kylie Maclellan | ) www.reuters.com time to read: +2 min

LONDON, Dec 1 (Reuters) - China on Thursday accused a committee of British lawmakers visiting Taiwan of "gross interference" in China's internal affairs and threatened a forceful response to anything that undermines Chinese interests. The Chinese embassy in Britain issued a statement responding to the ongoing visit to Taiwan by British parliament's Foreign Affairs committee, calling it a "flagrant violation" of the one-China principle. China claims the self-ruled, democratic island of Taiwan as its own territory, part of its "one China" policy. "Moves of the UK side that undermine China's interests will be met with forceful responses from the Chinese side." The spokesperson said the visit sent the wrong signal to those who want Taiwan to be independent.

☆ Park Seo-joon joins cast of 'The Marvels,' among growing list of Korean talent joining Disney projects
▼ + stars: | 2022-11-30 | by ( ) www.nbcnews.com time to read: +2 min

Korean actor Park Seo-joon will star in the upcoming superhero movie “The Marvels” to be released in July 2023. He joins a growing roster of Korean talent that is joining Disney-backed content and was one of many Korean names dropped Wednesday at a Disney content showcase in Singapore. Earlier this month, “Squid Games” star Lee Jung-jae was announced as joining Star Wars series “The Acolyte,” for Disney +. So too did Japanese director Miike Takashi, whose Korean-made series “Connect” Disney+ will upload early next month. Disney has announced plans to green-light 50 local shows in the Asia-Pacific region by the end of 2023 and is keen to catch up with Netflix in the scale of its Korean content roster.

☆ U.S. Inflation Reduction Act 'super aggressive,' Macron tells lawmakers
▼ + stars: | 2022-11-30 | by ( Michel Rose | ) www.reuters.com time to read: +5 min

WASHINGTON, Nov 30 (Reuters) - French President Emmanuel Macron addressed U.S. lawmakers from both political parties on Wednesday and pushed back over new American subsidies that are riling European leaders, according to a participant in a closed-door meeting. In a meeting with U.S. lawmakers at the Library of Congress, Macron said the act was "super aggressive" toward European companies, one participant told Reuters. [1/3] French President Emmanuel Macron and U.S. Vice President Kamala Harris hold a briefing during a visit to NASA headquarters in Washington, U.S., November 30, 2022. France joined the United States and several other nations in ruling out destructive, direct-ascent anti-satellite missile testing after Russia struck one of its own satellites in orbit last year, creating debris and drawing scorn from the United States and its allies. The United States, which last demonstrated such a missile in 2008, first announced its ban on the tests in April.

[1/2] French President Emmanuel Macron delivers a speech as he hosts a reception for the mayors of France, at the Elysee Palace, in Paris, France, November 23, 2022. The visit also highlights the unique way that Macron has raised France's profile on the world stage, and particularly in the United States. From Beirut to Bangkok, and from the Kremlin to the White House, he has sought to place himself at the center of every crisis, with a flair for seizing the moment. The White House defends the bill as necessary to boost the electric vehicle industry and other clean energy initiatives, saying subsidies play an important role. After Biden apologized publicly, Macron seemed less than mollified, saying "Trust is like love: Declarations are good, but proof is better."

☆ Wall Street mistakenly overlooking Salesforce's solid quarter by focusing too much on co-CEO exit
▼ + stars: | 2022-11-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Sure, cRPO (current remaining performance obligation) was a little light and the fiscal fourth quarter revenue guide midpoint missed by a hair (some conservatism probably due to the uncertain macro environment). Companywide results Breaking down quarterly subscription and support revenue results by cloud: Sales cloud revenue increased 17% in constant currency to $1.7 billion. Service cloud revenue increased 16% in constant currency to $1.9 billion. Platform and other (including Slack, which Salesforce acquired on July 21, 2021) revenue increased 22% in constant currency to $1.5 billion. Guidance For their fiscal fourth quarter, Salesforce management sees revenues increasing 8% to 10% year over year to $7.93 billion to $8.03 billion.

☆ China wants US not to interfere in ties with India - Pentagon
▼ + stars: | 2022-11-30 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

NEW DELHI, Nov 30 (Reuters) - China has warned the United States to not interfere in its relationship with India following deadly border skirmishes between the Asian giants in 2020, the Pentagon said in a report. Ties between India and China have nosedived since the worst border clashes between them in 45 years killed 20 Indian and four Chinese soldiers. India is part of the so-called Quad alliance with the United States, Japan and Australia that aims to keep China's influence in the Indo-Pacific region in check. "The PRC seeks to prevent border tensions from causing India to partner more closely with the United States. PRC officials have warned U.S. officials to not interfere with the PRC’s relationship with India."

☆ Just one person remains on Twitter's Asia child safety team, report says, despite Elon Musk saying dealing with child abuse is his biggest priority
▼ + stars: | 2022-11-29 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Only one person is left on Twitter's child safety team in Asia, Wired reported. Since the takeover, Musk has said that removing CSAM on Twitter is his number one priority. Twitter previously employed at least four employees focused on child safety in APAC, Wired found on LinkedIn. The employees were based in Singapore, Twitter's Asian headquarters, but publicly said three left Twitter in November. Twitter did not immediately respond to a request for comment about its child safety team in Asia-Pacific.

☆ Goldman Sachs: Wait for these 4 signs that the market has hit its bottom before you buy stocks — and keep your money in these 4 other places in the meantime
▼ + stars: | 2022-11-29 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman Sachs expects stocks to be flat in 2023 as growth weakens and interest rates stay high. Stocks have been crushed this year, and Goldman Sachs doesn't see a rebound on the horizon. In fact, the firm is calling for flat returns in the next year as earnings growth weakens. Additionally, rising real yields mean that bonds are now a legitimate alternative to stocks, which has catalyzed a "major valuation reset" for stocks, Mueller-Glissmann wrote. Even if interest rates peak, Goldman Sachs economists don't expect the Federal Reserve to stimulate the economy by cutting interest rates until 2024.

☆ Cathay Pacific in talks on orders for medium-haul jets, freighters
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) is in talks with aircraft manufacturers about orders for medium-haul aircraft and dedicated freighters, a senior executive said on Friday. Lam said the focus would be on acquiring more medium-haul jets to operate in the Asia-Pacific region as well as dedicated freighters, though he did not provide the numbers or types being considered. The long-serving executive, who will take over as chief executive on Jan. 1, had raised the prospect of jet orders in an interview with Bloomberg last month. Lam told analysts that the passenger outlook was improving but that cargo demand and prices had weakened compared to an "exceptional" performance in 2021. Reporting by Jamie Freed; Editing by Muralikumar Anantharaman and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Trump lesson on U.S. protectionism guides Canadian foreign policy
▼ + stars: | 2022-11-23 | by ( Steve Scherer | ) www.reuters.com time to read: +5 min

OTTAWA, Nov 23 (Reuters) - Canadian Prime Minister Justin Trudeau's government learned a lesson when former U.S. President Donald Trump forced the renegotiation of the North American trade pact five years ago: never underestimate U.S. protectionism. The next U.S. presidential election is less than two years away and Trump last week said he would run again, suggesting the "America first" trade policy could again be on the ballot. Even without Trump, the United States has shown signs of becoming increasingly leery of free trade in recent years. When America goes America first, they forget Canada's right next door," said a senior source familiar with the Canadian government's thinking on foreign policy. "I don't want to undermine the Indo-Pacific strategy by saying it's entirely about the United States, because it's not, but having a strong Indo-Pacific strategy is also important in our bilateral relationship with the United States," the senior source said.

☆ U.S., China defence ministers meet for second time this year
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +3 min

In June, a Chinese fighter aircraft dangerously intercepted an Australian military surveillance plane in the South China Sea region in May, Australia's defence department said. Tuesday's meeting of the defence ministers took place on the sidelines of an ASEAN gathering in Siem Reap, Cambodia. read moreAfter Pelosi's visit, China announced it was halting dialogue with the United States in a number of areas, including between theater-level military commanders. Pelosi's Taiwan trip infuriated China, which saw it as a U.S. attempt to interfere in its internal affairs. The United States has no formal diplomatic relations with Taiwan but is bound by law to provide the island with the means to defend itself.

☆ Pentagon chief raises concern about Beijing's 'dangerous' behavior with Chinese counterpart
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Willy Kurniawan/PoolPHNOM PENH, Nov 22 (Reuters) - U.S. Defence Secretary Lloyd Austin on Tuesday emphasized the need to improve crisis communications during a meeting with his Chinese counterpart while raising concern about "increasingly dangerous" behavior by Chinese military aircraft. In June, a Chinese fighter aircraft dangerously intercepted an Australian military surveillance plane in the South China Sea region in May, Australia's defence department said. Tuesday's meeting of the defence ministers took place on the sidelines of an ASEAN gathering in Siem Reap, Cambodia. read moreAfter Pelosi's visit, China announced it was halting dialogue with the United States in a number of areas, including between theater-level military commanders. The United States has no formal diplomatic relations with Taiwan but is bound by law to provide the island with the means to defend itself.

[1/2] Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman Al Saud arrives to attend the APEC Leader's Informal Dialogue with Guests during the APEC 2022 in Bangkok, Thailand, 18 November 2022. U.S. Secretary of State Antony Blinken said on Tuesday the immunity decision did not speak to a review of Washington's relationship with Saudi Arabia, which was ongoing. HISTORIC LOWSaudi ties with the United States and the wider West are still at a historic low point. When Saudi Arabia consequently took its security into its own hands with its war in Yemen, it saw Western criticism as hypocritical. Saudi Arabia would likely still prefer to have a U.S. security umbrella.

☆ Laid off from your tech job? Here's what you need to do to boost your chance of getting hired
▼ + stars: | 2022-11-22 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +7 min

Pooja Chhabria Career expert, LinkedInThis makes for a tight labor market that is "flooded with unemployed professionals and qualified candidates," she added. Time is of the essenceThe good news is that there are still tech opportunities available in "countless industries," said Salemi. Vicki Salemi Career expert, Monster.comWhile there are jobs available, experts told CNBC Make It that time is of the essence. Other than highlighting tech skills in your resume, soft skills like time management and customer service are crucial too. Be sure to engage and check in on your professional community on a regular basis to pave the way for mentorship opportunities, career advice and potential job opportunities.

☆ Kamala Harris’ visit to the Philippines sends China a message of US intent
▼ + stars: | 2022-11-21 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +7 min

According to the Asia Maritime Transparency Initiative, the Philippines occupies nine features in the Spratly chain while China occupies seven. In 2016, a tribunal in The Hague ruled in favor of the Philippines in a maritime dispute, concluding China has no legal basis to claim historic rights to the bulk of the South China Sea. “Philippine President Marcos appears open to the idea of pursuing pragmatic cooperation in the South China Sea, while not surrendering its long-standing position when it comes to the territorial issues in the South China Sea,” Banlaoi said. During her trip to the Philippines, Harris is expected to make a number of other announcements including tighter US cooperation with Manila on clean energy, cybersecurity, communication and agriculture. The deals show US intent in the Pacific region, but one South China Sea expert said Harris’ trip to the military base risks aggravating Beijing to the potential detriment of the Philippines.

☆ Morgan Stanley confirms layoffs in the Asia-Pacific region are 'in progress'
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley confirms layoffs in the Asia-Pacific region are 'in progress'Still, Morgan Stanley's APAC CEO Gokul Laroia says China remains an important market and expects to remain invested there.

Around 60% of Credit Suisse's wealth business is exposure to what it calls growth markets such as the Asia-Pacific region and emerging markets, and the other main part is business with ultra-wealthy entrepreneurs. De Ferrari said some of the best opportunities come in the "high net" business, clients who have $5-25 million to invest. Credit Suisse had been rocked in early October by wild market swings and a social media storm. "Everybody said we love Credit Suisse. Key to wealth management's success as a core business at Credit Suisse is focusing on its offerings and its top 20 markets and exiting from some others, he said.

☆ U.S., Japan and South Korea vow unified response to North Korean threat
▼ + stars: | 2022-11-14 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

PHNOM PENH, Cambodia — President Joe Biden and the leaders of Japan and South Korea on Sunday vowed a unified, coordinated response to North Korea’s threatening nuclear and ballistic missile programs, with Biden declaring that the three-way partnership is “even more important than it’s ever been” when North Korea is stepping up its provocations. Biden met separately with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol before all three sat down together on the sidelines of the East Asia Summit in Cambodia. The U.S. president began by offering condolences for a crowd surge during Halloween festivities in Seoul that killed more than 150 people, saying the U.S. had grieved with South Korea. Earlier this month, the South Korean military said two B-1B bombers trained with four U.S. F-16 fighter jets and four South Korean F-35 jets during the last day of “Vigilant Storm” joint air force drills. North Korea responded with its own display of force, flying large numbers of warplanes inside its territory.

☆ UBS says disinflation is on the way — and shares 8 global stocks to play it
▼ + stars: | 2022-11-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

After a year of double-digit inflation in many countries, UBS is now forecasting "sharp" disinflation in 2023. The bank screened for stocks it expects to be positively impacted in such an environment. The table below shows two stocks across four regions that UBS says will benefit the most from disinflation. British healthcare companies Genus and Hikma Pharmaceuticals ranked highly among the stocks UBS says will benefit from disinflation in the United Kingdom. "The negative payoff from getting our disinflation call wrong is large," strategists led by Arend Kapteyn warned.

Search resuls for: "Pacific Region"

25 mentions found