DIRS.INFO The most relevant business & tech news

☆ In hard times, Corporate America looks out for its CEOs
▼ + stars: | 2023-04-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

See here: Recent filings illustrate the way CEOs are still lavishly compensated even when massive screw-ups happen on their watch. A Southwest representative told CNN that the December cancellations did factor into the bonuses paid out to employees. The boards that make decisions on CEO pay are usually stacked with executives or former executives from other companies who benefit from the system. Often, CEOs of distressed companies — rather than seeing pay cut — receive so-called retention bonuses to encourage leaders not to flee the sinking ship. “When all the numbers are crunched, 2022 is going to be a flat year for CEO pay,” said Reda.

MONTREAL, April 5 (Reuters) - Honeywell International (HON.O) on Wednesday will announce a first deal for its most powerful generator, which would power a European-Canadian startup's hybrid electric cargo airship. Multiple startups are working on electric or hybrid aircraft to meet aviation's long-term climate goals. Flying Whales would use four generators per airship. The French parent company Flying Whales SAS and its Quebec based subsidiary have raised 162 million euros ($177.57 million) over three financing rounds. The first flight of the LCA60T airship in France is expected in late 2025 with entry into service planned for 2027, Flying Whales said.

Poppies are the most well-known flowers in the superbloom, but others, such as whispering bells and milkmaids, are also expected. Golden poppies are the state flower of California. They are typically bright orange and grow to the size of a tennis ball.

☆ How Disney and DeSantis started feuding
▼ + stars: | 2023-04-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Ron DeSantis won praise from the right for retaliating against Disney for its CEO’s decision to (rather timidly) wade into the public discourse over a contentious state law. In that first round of Florida’s GOP vs The Walt Disney Company, DeSantis landed a body blow that ultimately cost Disney CEO Bob Chapek his job. DeSantis signed the bill into law, and then set his sights on punishing Disney for daring to challenge him. “This essentially makes Disney the government,” said Ron Peri, a DeSantis pick for the new board, last week. Last week, Iger announced Disney would lay off 7,000 people as part of a $5.5 billion cost-reduction plan.

☆ Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu
▼ + stars: | 2023-04-03 | by ( Allison Morrow | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

☆ Hacker Stole My Phone, Credit Card, Identity. I Set Out to Find Them.
▼ + stars: | 2023-04-02 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +22 min

They left the Verizon store and went to a nearby Apple store, where they used my Chase credit card to spend $6,370. And two, because a physical credit card had been used to make the purchases, even though I was still in possession of my card. Typically, when your credit card is about to expire, as mine was, the bank sends you a new card a few weeks ahead of time. All told, the gang allegedly stole hundreds of identities and defrauded retailers and credit card companies of $1.3 million. Whoever hacked my identity, it makes sense that they started with my credit card.

☆ Nearly half of American workers don't take all of their PTO
▼ + stars: | 2023-03-31 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

46% of American workers take less paid time off than they are offered, per the Pew Research Center. Respondents worry taking time off will slow down their career advancement, among other concerns. They found that nearly46% of American workers aren't taking all of their allotted paid time off. Lower-income workers said they were "more likely" to worry about losing their jobs for taking all of their time off than "middle and upper-income workers." Workers "want to know they can take time off when they need it," she said, "but this new data shows us that many workers don't. "

☆ Why so many banks seem to fail on Fridays
▼ + stars: | 2023-03-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

That’s because when banks fail, they have a tendency to do so on Friday. Friday, March 10, 2023: Silicon Valley Bank seized by regulators, the second biggest bank failure in US history. “That was very unusual.”Similarly, Silicon Valley Bank’s unraveling happened at a head-spinning pace nearly three weeks ago. Skinny cansAnyone else notice how skinny cans are these days? My colleague Nathaniel Meyersohn, a reporter with an eagle eye for retail trends, explains that skinny cans are, in fact, in.

☆ Watch Live: Spotlighting female founders closing the gap for women in the workforce
▼ + stars: | 2023-03-30 | by ( Harriet Taylor | ) www.cnbc.com time to read: +3 min

First, Boorstin will speak with tech venture capitalists Freada Kapor Klein and Mitch Kapor, founding partners of Kapor Capital Partners and the authors of "Closing the Equity Gap," published by Harper Business. Through Kapor Capital, they invest in entrepreneurs whose products and services aim to close social and economic equity gaps while building successful businesses. Boorstin will also speak with them about the current economic environment and what can be done to mitigate the impact on fundraising for minority founders. Allison Whalen is the co-founder and CEO of Parentaly, which works with companies to administer parental leave programs. Hear from these change-makers who are delivering social and economic returns, building successful companies, and sharing key insights they've learned along the way.

☆ Sam Bankman-Fried pleads not guilty to new federal charges
▼ + stars: | 2023-03-30 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of fraud and conspiracy, including one count of conspiring to bribe Chinese government officials. An attorney for Bankman-Fried entered the plea on his behalf of his client, who was seated beside him in the New York courtroom Thursday. He previously pleaded not guilty to eight other charges stemming from what prosecutors have described as one of the biggest financial frauds in US history. In the latest indictment, prosecutors alleged that Bankman-Fried sought to pay off Chinese officials to unfreeze accounts belonging to his hedge fund, Alameda Research. Three of Bankman-Fried’s former business partners — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to numerous charges and are cooperating with investigators.

A pedestrian walks past the Federal Reserve Headquarters on March 21 in Washington, DC. Daines also accused the Federal Reserve Bank of San Francisco of prioritizing addressing climate change over the risks presented by higher interest rates. In an interview with Montana Public Radio in 2014, Daines said that "the jury’s still out" on whether climate change is real. These responsibilities are tightly linked to our responsibilities for bank supervision. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

☆ FTX founder Sam Bankman-Fried tried to bribe Chinese officials, prosecutors say
▼ + stars: | 2023-03-28 | by ( Allison Morrow | ) edition.cnn.com time to read: 1 min

☆ Binance and its CEO sued by US regulators
▼ + stars: | 2023-03-27 | by ( Allison Morrow | ) edition.cnn.com time to read: 1 min

☆ Banks' internship and analyst programs could be in flux, and that might spell bad news for senior dealmakers
▼ + stars: | 2023-03-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

But before we get started, First Citizens BancShares has agreed to buy Silicon Valley Bank, according to a statement from the FDIC. Some of the ripples from the fall of Silicon Valley Bank have felt particularly significant (Credit Suisse bankers nod ominously). Some banks had to even break a cardinal rule of Wall Street: Turn away business. Click here to read more about how college students are feeling on edge about their upcoming Wall Street jobs and internships. You don't necessarily need seven-figures in assets to call it quits, per The Wall Street Journal.

☆ Silicon Valley Bank red flags: Why did almost everyone fail to predict its collapse?
▼ + stars: | 2023-03-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. To embrace a uniquely Silicon Valley ethos that champions boldness, growth and disruption. Silicon Valley Bank held 55% of its customers' deposits in long-dated bonds whose value eroded as interest rates went up. Silicon Valley Bank held an unusually large proportion (55%) of its customers’ deposits in long-dated Treasuries. And for most of that year, Silicon Valley Bank was operating with a massive vacancy in its corporate leadership team: a chief risk officer.

☆ This cofounder wants to bring transparency to Wall Street's ultra-secretive trading world, and make some jokes along the way
▼ + stars: | 2023-03-25 | by ( Paige Hagy | Carter Johnson | ) www.businessinsider.com time to read: +7 min

Proof Trading is a brokerage that's trying to increase transparency in trading. When she's not busy at her nine-to-five running a brokerage, Allison Bishop is doing finance-themed standup comedy. Proof Trading offers its clients — and the broader public — a look into its systems and decision-making processes. Using humor to help educateBishop does stand-up comedy on the side, finding making fun of the industry to be therapeutic. "There's always a risk that people don't care enough about the problem," Bishop said.

March 24 (Reuters) - Financial sector headwinds are creating fresh openings for private equity investments in aerospace, as suppliers' need for capital to meet soaring demand for planes and parts risks further turbulence, executives said. He said he would not oppose a private equity investment, as long as he maintains control and the combination makes sense by lowering costs. Global private equity deals among companies with aerospace portfolios rose to 216 in 2022, more than double 2019's figure and the highest in over a decade, according to Refinitiv data. Permanent Equity wants to invest in repair stations and suppliers with large inventories of aerospace parts. In Canada, while bank loans remain accessible for small suppliers, rising rates have flattened real estate pricing.

☆ A key indicator says a recession is guaranteed in 2023 — and Bill Ackman, Nouriel Roubini, and others are warning of trouble ahead
▼ + stars: | 2023-03-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

From the central bank's latest rate hike to new developments in the ongoing bank crisis, a lot has happened in my absence. And all the while, Jerome Powell's favorite bond-market indicator is quietly telling us that a recession is all but guaranteed this year. Talk of basis points, yield spreads, and other market jargon is obscuring the key message here: Markets think a recession is guaranteed in 2023. How much credence as a recession signal do you give the bond market indicator? He said the current bank crisis isn't a redux of that era, or even of 2008.

REUTERS/Dado Ruvic/Illustration/File PhotoMONTREAL, March 23 (Reuters) - Business jet maker Bombardier Inc (BBDb.TO) on Thursday raised 2025 revenue and free cash flow targets at its investor day, and said it would produce more corporate planes, sending shares up 4.9% in morning trade. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying in the U.S. He said Bombardier expects to produce about 150 business jets by 2025, and is targeting more than $9 billion in annual revenue, up from an earlier goal of $7.5 billion. With no announced 2025 capex target and the entry into service of its flagship Global 7500 in 2018, investors and analysts are expected to raise questions over plans for a new jet. Desjardins analyst Benoit Poirier said Bombardier's free cash, revenue and deliveries targets were stronger than expected and deemed the lack of a capex commitment less risky.

☆ Bombardier lifts 2025 financial targets amid strong business jet market
▼ + stars: | 2023-03-23 | by ( Allison Lampert | ) www.reuters.com time to read: +1 min

MONTREAL, March 23 (Reuters) - Canadian business jet maker Bombardier Inc (BBDb.TO) on Thursday raised its 2025 revenue and free cash flow targets at its investor day, capitalizing on strong demand for private flights. Montreal-based Bombardier said in a statement it is now targeting more than $9 billion in annual revenue by 2025, up from an earlier objective for that year of about $7.5 billion. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying, especially in the United States, the world's largest market for business aviation. But while demand continues to be strong, supply chain snags and fears of a recession remain headwinds. Chief Executive Eric Martel said previously the company's defense business for special mission business jets could grow to a possible $1 billion in annual revenues.

☆ Morning Bid: Central banks try to see through stress
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanEven with a nod to greater banking stress, the major central banks all seem determined to tighten the monetary screw another notch. With Treasury Secretary Janet Yellen's pushback against suggestions of a blanket insurance of all U.S. banking deposits unnerving investors again after the Fed decision, few believe the financial stress has fully dissipated. Even though stock markets swooned after the Yellen comments on Wednesday, S&P500 futures were back up smartly ahead of Thursday's open. European bourses and banking stocks were only a touch lower in the face of the latest European rate rises. The dollar hit its lowest since early February but regained its footing ahead of the U.S. open and BoE decision.

☆ The TikTok hearing was an ugly political theater
▼ + stars: | 2023-03-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Despite lacking evidence for their belief that TikTok is a spying tool for the Chinese Communist Party, US lawmakers from both parties on Thursday carried out an ugly political theater to advance that narrative. But — and I cannot stress this enough — the national security concerns are purely hypothetical. And against that tense (not to mention deeply xenophobic) backdrop, everyone in Washington is bolstering their “tough in China” credentials. “We see this handwringing about TikTok as a big distraction from the conversation that we really need to be having,” Greer said. “It’s a national embarrassment that we have no basic data privacy law in the United States.”Enjoying Nightcap?

☆ Silicon Valley Bank became the go-to bank for startups with a network of top-tier VCs. Underrepresented founders say that created barriers to access for them.
▼ + stars: | 2023-03-23 | by ( April Joyner | Ben Bergman | ) www.businessinsider.com time to read: +7 min

But some early-stage founders told Insider they had trouble getting access to SVB's services. SVB's reliance on VC networks made it less accessible to some underrepresented founders, they said. With its focus on venture-backed startups, Silicon Valley Bank provided loans and lines of credit to businesses that often wouldn't qualify for such services at a larger bank. But the earliest-stage companies — those without significant venture funding or a notable VC backer — were still sometimes shut out, founders told Insider. Jean-Charles and Alvarez-Bailey said they didn't believe bias or discrimination was at play in SVB's decisions — they simply didn't meet the bank's VC funding threshold.

☆ How the banking crisis clipped the Fed's wings
▼ + stars: | 2023-03-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The message was clear: Buckle up, America — we are going to keep raising rates and get inflation down, come hell or high water. Silicon Valley Bank collapsed, followed by Signature Bank, stirring fears of a 2008-like financial calamity. “We no longer state that we anticipate that ongoing rate increases will be appropriate to quell inflation,” Powell said. How’d Wall Street take the news? But the mood on Wall Street turned sour in response to both Powell’s comments and remarks from Treasury Secretary Janet Yellen, who was testifying before Congress at the same time.

☆ The bank panic is subsiding just in time for the Fed to
▼ + stars: | 2023-03-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —One week ago, right in this here newsletter, I wrote about how Wall Street was having a Zen moment. In the optimistic camp: “The bank crisis-ette is over,” Daniel Alpert, managing partner at Westwood Capital, told me. And it will be the first time the world hears from Fed officials since the collapse of Silicon Valley Bank, thanks to a cosmic twist of timing. But because of the banking turmoil, there is a chance the Fed would decide not to raise rates this time around. If the Fed feels the crisis has passed, Alpert said, it will be emboldened to go for the quarter-point hike.

Search resuls for: "Allison"

25 mentions found