DIRS.INFO The most relevant business & tech news

☆ Trump shows in Iowa he still rules the GOP – despite his deepening criminal peril
▼ + stars: | 2023-07-29 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

“As it stands right now, you will be voting in Iowa, while multiple criminal cases are pending against former President Trump,” Hutchinson said. Donald Trump is not running for president to represent the people that voted for him in 2016 and 2020,” Hurd said to loud boos. “Donald Trump is running to stay out of prison,” he said as jeers started to crescendo. But if Trump is to be stopped, there is no sign so far that it will happen in Iowa. Unlike some of the other GOP candidates, Trump is not using the dinner to also hold multiple Iowa campaign stops.

Persons: Donald Trump, didn’t, quagmire, Trump, Dunn, ” Trump, Jack Smith, Biden, ”, –, Ron DeSantis, ” DeSantis, Mike Pence, White, ” Pence, I’m, Asa Hutchinson, ” Hutchinson, Will Hurd, “ Donald Trump, ” Hurd, jeers, Joe Biden, it’s, Sen, Barack Obama, Jackson, Scott Olson, DeSantis, South Carolina Sen, Tim Scott, Hawkeye, there’s, Donald J, “ I’m, ” Scott, “, Chris Christie Organizations: CNN, Republican, Brooks, Capitol, GOP, Florida Gov, ABC News, White House, Fox News, Trump . Former Arkansas Gov, Former Texas Rep, CIA, Trump, Democratic, Jefferson, White, Hawkeye State, Iowa, Getty, North, Fox, South, Democrats, New, New Jersey Gov Locations: Iowa, America, Florida, Manhattan, Iowa –, Mar, Erie , Pennsylvania, Des Moines, Hawkeye, North America, South Carolina, “ Hello Iowa, New Jersey, New Hampshire

☆ Dollar firms, yen wobbles as Japan inflation holds above BOJ target
▼ + stars: | 2023-07-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. More than three-quarters of economists polled by Reuters expect the BOJ to hold policy steady including its yield control scheme. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. The onshore yuan firmed against the dollar and was last at 7.1693 per dollar after the central bank set a much stronger guidance than expected.

Persons: Carol Kong, Kong, Kazuo Ueda, Scherrmann, Ankur Banerjee, Sam Holmes Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Reuters, Sterling, Fed, European Central Bank, Thomson Locations: SINGAPORE, Central, Europe, Japan, United State, U.S, Singapore

☆ Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles
▼ + stars: | 2023-07-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Nonfarm payrolls increased 209,000 in June and the unemployment rate was 3.6%, the Labor Department reported Friday. Employment growth eased in June, taking some steam out of what had been a stunningly strong labor market. A more encompassing unemployment rate that includes discouraged workers and those holding part-time jobs for economic reasons rose to 6.9%, the highest since August 2022. "This is a strong labor market where demand for higher paying jobs is clearly the trend," said Joseph Brusuelas, chief economist at RSM. The June report "suggests labor market conditions are finally beginning to ease more markedly," wrote Andrew Hunter, deputy chief U.S. economist at Capital Economics.

Persons: Nonfarm, Dow, downwardly, payrolls, Seema Shah, Joseph Brusuelas, Andrew Hunter Organizations: Labor Department, Dow Jones, Asset Management, ADP, Blacks, of Labor Statistics, RSM, Capital Economics

☆ Dollar buoyant; yuan wobbles after China cuts lending benchmarks
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. The offshore yuan dipped slightly following the decision and was down more than 0.1% at 7.1734 per dollar, languishing near last week's roughly seven-month low. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets globally. Sterling rose 0.05% to $1.2797, ahead of British inflation data and the Bank of England's interest rate decision later in the week. Against a basket of currencies, the U.S. dollar rose 0.03% to 102.51.

Persons: it's, Rodrigo Catril, Min Joo Kang, Sterling, BoE, NAB's Organizations: U.S, National Australia Bank, NAB, Bank of, ING, South, Reserve Bank of, New Zealand, Central Bank, Bank of England Locations: China, United States, Asia, Japan, South Korea

☆ UK investors back money market funds in May, ditch ESG funds
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 6 (Reuters) - UK investors backed money market funds in May at the fastest rate since the country's failed 'mini-budget' last year, opting for caution after a volatile period in global banking, funds network Calastone said on Tuesday. The data also showed that environmental, social and corporate governance-focused equity funds suffered their worst month on record, shedding 304 million pounds of capital. Investors added a net 318 million pounds during the month, half the average of the last year, Calastone said. Equity funds suffered net outflows of 302 million pounds, meanwhile, marking a sharp reversal after strong inflows in March and April. UK-focused funds were particularly hard hit, seeing outflows of 583 million pounds.

Persons: Calastone, Liz Truss, Edward Glyn, Iain Withers, Barbara Lewis Organizations: Equity, Thomson Locations: U.S, Calastone

☆ Gold wobbles as sticky inflation drives up US rate hike bets
▼ + stars: | 2023-05-26 | by ( ) www.cnbc.com time to read: +1 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold hit a two-month low of $1,936.59 during Asian trading hours, and is set to lose 1.7% for the week. But short-term players expect a deal to be done and "have been selling behind inflation data that suggests a June hike is possible," Wong added. Traders are now betting the Fed will deliver an 11th straight rate hike in June, which would erode the attraction of zero-interest-bearing gold. Benchmark 10-year Treasury yields and the dollar index hovered near their highest levels since mid-March, both on track for their third straight weekly gains

Persons: Gold, Tai Wong, Wong, Phillip Streible Organizations: D.C, Federal, Blue, Traders Locations: Moscow, Russia, New York, Chicago

☆ Morning Bid: Markets on hold for US CPI
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookSterling and the euro seem to be losing steam as currency markets tuck themselves in for a nap. Today's inflation data, due at 1230 GMT, could offer a jolt if the surprise factor is big enough. Economists polled by Reuters see core CPI steady at a monthly 0.4%. Beyond the inflation data, U.S. default risks and banking wobbles loom as the next likely focus. Key developments that could influence markets on Wednesday:U.S. CPI dataReporting by Tom Westbrook; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ IMF still concerned by banking sector wobbles - chief economist
▼ + stars: | 2023-05-09 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File PhotoPARIS (Reuters) - The International Monetary Fund remains concerned about recent turbulence in the banking sector despite actions by the U.S. and Swiss authorities to deal with troubled banks on their watch, its chief economist Pierre-Olivier Gourinchas said on Monday. Speaking to journalists in Paris, he added that “the story is not over” and that EU banks were not immune to problems as long as the bloc did not go further to complete long-discussed mechanisms to deal with failed banks.

☆ Arsenal win 2-0 at Newcastle to stay in title hunt
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +3 min

NEWCASTLE, England, May 7 (Reuters) - Arsenal showed no sign of raising the white flag in the Premier League title race with a 2-0 victory at Newcastle United on Sunday to close the gap on leaders Manchester City to one point. Newcastle stay third on 65 but Manchester United could overtake them later on Sunday if they win at West Ham United and Liverpool will sense some anxiety as they continue to chase. They also had the bitter memory of a 2-0 defeat at Newcastle a year ago that scuppered their top-four hopes. But this Arsenal side, despite the recent wobbles that have cost them top spot, are made of much sterner stuff. Pope came to Newcastle's rescue again in stoppage time at the end of a frenetic first half, keeping out Odegaard's shot with his legs after the Norwegian looked favourite to score.

☆ Why Should Charles III Be King?
▼ + stars: | 2023-05-05 | by ( Tanya Gold | ) www.nytimes.com time to read: +7 min

King Charles(Francis Xavier,Professor X) III Prof. King Charles III, a telepath and the leader of the X-Men, is powerfully gifted, like the real Charles III (a noted gardener and watercolorist). King Charlize (Theron) III Charlize III is a gifted actor, which all good monarchs need to be, and an extraordinarily beautiful woman. King Charles III, theMadame Tussauds waxwork Wax Charles III lives in Madame Tussauds on Baker Street, and more people met him in 2022 — 2.5 million — than the real king will meet during his whole reign. King Charlie (Sheen) III Another actor, who has the advantage of already being from a famous dynasty: his father played Jed Bartlet, the philosopher king from “The West Wing.” King Charlie (Sheen) III would be handsome but not as handsome as King Charlize (Theron). King Charles (Dickens) III could not function in a country with failing public services and a system that taxes earnings, not wealth.

☆ DeSantis’s Electability Pitch Wobbles, Despite G.O.P. Losses Under Trump
▼ + stars: | 2023-04-20 | by ( Shane Goldmacher | ) www.nytimes.com time to read: +1 min

Ron DeSantis knows the statistics by heart. “There is no substitute for victory,” Mr. DeSantis said last week during his first trip to New Hampshire in his still-undeclared presidential bid. He denounced the “culture of losing” that he said had engulfed Republicans in recent years, swiping at Donald J. Trump in all but name. “If the election of 2024 is a referendum on Joe Biden and his failed policies — and we provide a fresh vision for American renewal — Republicans will win the White House, the House and the U.S. Senate,” he told the crowd. “So we cannot get distracted, and we cannot afford to lose, because freedom is hanging in the balance.”Electability has emerged as one of the early pressure points in the 2024 Republican presidential primary.

☆ Stocks and gold cheer U.S. inflation picture, while dollar slides
▼ + stars: | 2023-04-13 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 10, 2023. The annual 5% headline rise for U.S. inflation was the smallest since May 2021 and down from 9.1% last June. The dollar index was down 0.2%, near its lowest in two months, while U.S. stock futures , rose 0.1-0.2%, suggesting a modest rally at the open. The Aussie dollar rose 0.6% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs. Alibaba shares (9988.HK) fell by as much as 5% at one stage, but later pared losses to close 2% lower.

☆ Tech drags Hong Kong stocks, dollar squeezed as US inflation slows
▼ + stars: | 2023-04-13 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

SINGAPORE, April 13 (Reuters) - Asian stocks struggled on Thursday, dragged by selling in Hong Kong tech shares, while the dollar was under pressure and short-dated bonds were firm as softening U.S. inflation seemed to suggest the U.S. rate hike cycle was nearing its end. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid 0.3%, largely pressured by a 1.5% drop in Hong Kong tech stocks (.HSTECH) in the wake of the Financial Times reporting SoftBank was selling down its Alibaba stake. Alibaba shares (9988.HK) were down 3% in early trade and SoftBank (9434.T) shares flat and neither immediately responded to Reuters enquiries. Elsewhere oil prices held sharp gains made in the wake of the inflation data, with Brent crude futures steady at $87.22 a barrel. Shares of embattled Chinese property developer Sunac China (1918.HK) resumed trade after a more than year-long suspension in Hong Kong, with the company in the midst of a debt restructure.

☆ Asian stocks subdued ahead of US inflation data, Fed minutes
▼ + stars: | 2023-04-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Data on Tuesday showed China's consumer inflation in March was at its slowest since September 2021. The consumer price index is expected to show core inflation rose 0.4% on a monthly basis and 5.6% year-over-year in March, according to a Reuters poll of economists. Markets are now pricing in a 66% chance of the Fed raising interest rates by 25 basis points in May and then pausing for the subsequent meetings, according to the CME FedWatch tool. The Fed last month raised interest rates by a quarter of a percentage point, taking it to a range of 4.75% to 5.00%. "Investors seem to be getting ahead of themselves in expecting the Fed to begin cutting interest rates", said Luca Paolini, chief strategist at Pictet Asset Management.

☆ Morning Bid: Have payrolls resurrected the 'soft landing'?
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

[1/2] An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. Earnings for Citi, Wells Fargo and JP Morgan Chase & Co later in the week will be in focus for colour on financial conditions. Inflation figures due Wednesday can also help markets to gauge how aggressive the Federal Reserve may need to be. Friday's jobs data lifted yields, but didn't substantially shift a bigger picture view that hikes are all but finished and cuts are coming. China is running military exercises in the wake of Taiwan's president visiting the United States, while the U.S. scrambles to find the source of a damaging document leak.

LONDON, April 6 (Reuters) - Banking sector turmoil has not dented demand for equities, with MSCI's world stock index up 7% so far this year. But under the surface, bad omens for world stocks are building. Central bank surveys show U.S. and European banks are already tightening lending standards, historically a predictor of dismal stock market performance. Credit tightening predicts poor stock market returns2/ MANUFACTURING SLOWDOWNRecessions starting in the United States tend to flow to the rest of the world and consequently global stocks. Seven mega-cap tech stocks were responsible for 92% of the S&P 500's first-quarter rise, Citi notes.

☆ 'Nationalizing bond markets' left central banks unprepared for inflation, top HSBC economist says
▼ + stars: | 2023-03-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

"Part of the problem with QE was the fact that you're basically nationalizing bond markets. Bond markets have a very very useful role to play when you've got inflation, which is they're an early warning indicator," King told CNBC's Steve Sedgwick. Central banks around the world have hiked interest rates aggressively over the past year in a bid to rein in soaring inflation, after a decade of loose financial conditions. The swift rise in interest rates has intensified concerns about a potential recession and exposed flaws in the banking system that have led to the collapse of several regional U.S. banks . The prolonged period of loose monetary policy after the global financial crisis equated to central banks "nationalizing bond markets," and meant policymakers were slow off the mark in containing inflation over the past two years, according to HSBC Senior Economic Adviser Stephen King.

The PowerA Enhanced Wired Controller for Nintendo Switch is a full-sized gamepad with a budget-friendly price. If you're looking for a full-sized Switch controller that won't break the bank, check out the PowerA Enhanced Wired Controller. PowerA Enhanced Wired Controller for Nintendo Switch The PowerA Enhanced Wired Controller for Nintendo Switch is a full-sized gamepad that offers bigger buttons, better joysticks, and extra customizable buttons. William Antonelli/InsiderCompared to the Joy-Cons that come packaged with every Nintendo Switch, the Enhanced Wired Controller feels fantastic. Without Bluetooth or motion controls, the Enhanced Wired Controller isn't versatileThe Enhanced Controller plugs into the Switch's dock.

☆ SVB sale puts too-big-to-fail risk in a new bottle
▼ + stars: | 2023-03-28 | by ( John Foley | ) www.reuters.com time to read: +4 min

The sale of SVB to rival First Citizens Bancshares (FCNCA.O) addresses the first part, and doubles down on the second. First Citizens snapped up $110 billion of SVB’s assets over the weekend, at a generous $16.5 billion discount to book value. And for the Federal Deposit Insurance Corp, which is handling SVB’s sale, First Citizens chief Frank Holding is a known quantity. In SVB’s case, the FDIC has agreed to absorb some potential losses in the failed bank’s loan book. The FDIC expects its fund for managing failed banks will take a $20 billion hit.

☆ Take Five: And let there be calm
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 23 (Reuters) - At the incredible end to the first quarter for financial markets, rattled by bank turmoil, some stability will be much hoped for in coming days. SNB chief Thomas Jordan reckons the next two weeks will be vital to securing UBS's Credit Suisse takeover. Market cap of US regional banks included in the S&P 500 regional bank index3/ DID YOU SAY AT1? Potential legal action is also possible after Swiss authorities ruled that holders of Credit Suisse AT1 bonds would get nothing in the deal. And U.S. and European banks turmoil show how quickly a crisis can surface, giving Ueda even more reason for caution.

☆ Hardline US Republicans oppose bank deposit guarantees beyond $250,000 limit
▼ + stars: | 2023-03-21 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderWASHINGTON, March 20 (Reuters) - Hardline Republicans in the House of Representatives on Monday vowed to oppose any universal federal guarantee on bank deposits above the current $250,000 limit, throwing a major roadblock to a key tool regulators could deploy if bank runs re-emerge as financial confidence wobbles. The upheaval has been marked by uninsured business depositors fleeing smaller community and regional lenders toward the largest banks perceived as "too big to fail." Independent Community Bankers Association President Rebeca Romero Rainey said in a statement that depositors in safely run small banks should get the same guarantees that uninsured depositors in SVB and Signature Bank received. Runs could re-emerge if another bank falters, and if the institution is large enough, regulators will again declare a systemic risk exception and guarantee its uninsured deposits, he added.

☆ Stock futures nudge higher on Credit Suisse buyout
▼ + stars: | 2023-03-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

S&P 500 futures rose 0.5% in bumpy early trade. Over the weekend, UBS said it will buy Credit Suisse for 3 billion francs ($3.2 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities. "The news overnight from Switzerland has helped," he said, though added that the central bank moves had calmed as well as created nerves. It's great we're seeing this concerted effort from central banks, and it's positive, but it does also highlight how troubling the circumstances are and how worried central banks appear to be as well." In foreign exchange trade, the Swiss franc , which took a beating as worries about Credit Suisse grew last week, rose about 0.4% to 0.9264 to the dollar.

☆ Scholz to seek reforms to boost EU competitiveness at Brussels summit
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, March 16 (Reuters) - German Chancellor Olaf Scholz said on Thursday he will seek to boost European competitiveness through reforms at an EU summit in Brussels next week, including making state aid more flexible and completing capital markets and banking unions. In a speech to the German Bundestag, Scholz urged the European Union to pull together to face a raft of challenges, including in response to a massive U.S. subsidy programme for clean technologies known as the Inflation Reduction Act. The EU is unveiling a Critical Raw Materials Act aimed at keeping pace with the United States and China in access to raw materials. Scholz said raw material security will also top the agenda when he visits Japan for talks this week. Turning to the war in Ukraine, Scholz said that EU member states will agree further measures to improve the continued supply of arms and ammunition to Kyiv, without going into specifics.

☆ Analysis: Door slams on Japan bank rally as focus turns to bond holdings in wake of SVB
▼ + stars: | 2023-03-14 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Losses in Silicon Valley Bank's bond portfolio have highlighted similar risks for Japanese lenders' gigantic foreign bond holdings, which are carrying over 4 trillion yen ($30 billion) in unrealised losses. Three days of selling has the Tokyo Stock Exchange banks index (.IBNKS.T) down 16% - its sharpest drop since the days after the 2011 earthquake and tsunami struck Japan. Reuters GraphicsBONDS GETTING HITMost of the time, bond losses aren't a problem for banks, which typically hold their investments to maturity. An annual Bank of Japan report published on Tuesday said Japanese financial institutions have sufficient capital buffers. "And maybe some concerns Japanese banks have exposures, and some profit taking," he said.

☆ Bank runs don’t change Fed’s focus on high prices
▼ + stars: | 2023-03-14 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

The federal government took emergency action to stave off other implosions, but SVB’s collapse cast a shadow over the Fed’s next rate decision. Economists at Goldman Sachs and Barclays scrapped their forecasts for a rate hike and now expect the central bank to hold rates steady when it meets on March 22. That is three times the central bank’s inflation target. Inflation remains much too hot for the Fed’s liking, and the central bank has more reason to repeat February’s 25-basis-point hike than to deviate from it. Its last policy meeting concluded with the central bank lifting the federal funds rate by 25 basis points to a range of 4.5% to 4.75%.

Search resuls for: "wobbles"

25 mentions found