DIRS.INFO The most relevant business & tech news

☆ European markets lower; fresh data shows rising recessionary risks
▼ + stars: | 2023-07-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were mixed on Monday as investors digest the inconclusive results of Spain's election and look ahead to a busy week of corporate earnings and central bank meetings. The pan-European Stoxx 600 moved lower in early afternoon deals, falling 0.1%, with all major bourses trading in negative territory. Fresh data pointed to a slowdown in business activity in France, Germany and the U.K. in July, adding to recessionary risks in Europe. Markets in Asia-Pacific were mixed Monday as investors digested key economic data from across the region. Japan's the Nikkei 225 gained 1.29% to start the week after new data showed business activity expanded for a seventh straight month.

Persons: Switzerland's Julius Baer Organizations: Sunday, European Central Bank, Nikkei, Bank of Japan, Federal Reserve, Meta, Microsoft, Vodafone, Ryanair, Italy's Locations: France, Germany, Europe, Asia, Pacific

☆ European markets flat ahead as traders react to earnings, look ahead to Spanish election
▼ + stars: | 2023-07-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were flat on Friday as investors digested a fresh round of corporate earnings and looked ahead to a crucial Spanish election over the weekend. Tech stocks shed 1.6% to continue the previous session's slide, while insurance stocks added 0.8%. The European blue chip index closed out Thursday's session 0.4% higher, though the tech sector dropped 2.5% on the back of weak U.S. tech earnings. The results were ominous for Sunak's ruling party as it looks ahead to a general election in 2024. Earnings season kicks off in earnest next week, when Europe's major banks, pharmaceutical firms, automakers, energy giants and aircraft manufacturers are all due to report.

Persons: Rishi, Pedro Sanchez, Glencore Organizations: Tech, Dow Jones, Nasdaq, Conservative Party, Labour Party, Liberal Democrats Locations: Asia, Pacific, Europe, Europe's, Swiss

☆ European markets mixed as tech stocks sink 2% on weak U.S. earnings
▼ + stars: | 2023-07-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were muted on Thursday as investors assessed the implications of some big U.S. corporate results and the start of earnings season at home. The pan-European Stoxx 600 hovered around the flatline in early trade, with tech stocks shedding 2.4% to lead losses on the back of weak U.S. earinings, while mining stocks added 1.4%. Markets in Asia-Pacific were mixed overnight as investors digested a slew of economic data across the region. Japan's Nikkei 225 led losses after the country posted a surprise trade surplus of 43 billion yen ($308 million), its first surplus in 23 months. Stateside, Nasdaq 100 futures slid in after-hours trading Wednesday evening as shares of Netflix sank after the company missed second-quarter earnings expectations.

Persons: Tesla, Elon Musk Organizations: Nikkei, Nasdaq, Netflix, Sweden's Volvo, SAP, France's, Nokia, ABB, Givaudan Locations: Asia, Pacific, Europe, France's Publicis

☆ Gucci CEO Marco Bizzarri to step down as parent company chases global luxury boom
▼ + stars: | 2023-07-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The president and CEO of Gucci will step down later this year as part of a leadership overhaul at its French parent company Kering aimed at capturing more of the booming global market in luxury goods. Marco Bizzarri, who has been at the helm since 2015, will leave on September 23, Kering said in a statement Tuesday. Jean-François Palus, who currently serves as Kering’s managing director, will take over on a transitional basis. “We are building a more robust organization to fully capture the growth of the global luxury market,” Pinault said. Meanwhile, Kering’s shares have risen nearly 11% over the same period, which is much closer to the average stock price increase of 8.4% for all companies in the benchmark Stoxx Europe 600 index.

Persons: Gucci, Kering, Marco Bizzarri, Jean, François, Yves Saint Laurent, ” François, Henri Pinault, ” Gucci, ” Pinault, —, Christian Dior Organizations: London CNN, Hermès International, Christian

☆ Europe stocks higher after fall in U.S. inflation; UK economy contracted in May
▼ + stars: | 2023-07-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 was up 0.3% at 8:45 a.m. in London, with tech stocks up 1%. LONDON — European stock markets were higher Thursday morning after a cooler-than-expected U.S. inflation reading and fall in U.K. gross domestic product. The U.K. economy contracted 0.1% in May, official figures showed, though this was less than the 0.3% month-on-month contraction forecast in a Reuters poll of economists. Asia-Pacific stocks were higher Thursday, while the S&P 500 closed Wednesday at its highest level since April 2022. U.S. producer price figures are due today.

Persons: industrials Organizations: LONDON, CPI, Federal Reserve Locations: London, U.K, U.S, Asia, Pacific, Europe, France

☆ European markets cautiously higher ahead of key U.S. inflation data
▼ + stars: | 2023-07-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were slightly higher on Wednesday morning as investors await a key U.S. inflation reading later in the day, which will have significant bearing on the Federal Reserve's interest rate decisions. The European blue chip index closed out Tuesday's session 0.7% higher, with construction and material stocks leading gains. Stateside, stock futures were little changed in early premarket trade as investors awaited the first of several potentially pivotal inflation reports this week. Core CPI, which excludes volatile food and energy prices, is projected to rise 0.3% on the month and 5% on the year. June data for the producer price index — another well-watched gauge of inflation — is due Thursday before the bell.

Persons: Hong, Dow Jones Organizations: Japan's Nikkei, CPI, Bank of England Locations: U.S, Asia, Pacific, Europe

☆ Record UK wage growth adds to inflation fears; Europe markets open higher: Live updates
▼ + stars: | 2023-07-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets advanced on Tuesday, tracking the trend across the Atlantic after Wall Street snapped a three-day losing streak, with investors looking ahead to key U.S. inflation figures later this week. The pan-European Stoxx 600 was up 0.3% in early trade, having pared some of its opening gains. Mining stocks added 1.4% to lead gains while autos slipped 0.5%, as most sectors and major bourses traded in positive territory. U.S. stock futures were little changed in early premarket trade after the major U.S. averages eked out gains on Monday. Back in Europe, U.K. wage growth hit a joint-record high in the three months to the end of May, deepening concerns about entrenched high inflation.

Persons: Hong, Wells Organizations: Wall, Mining, Investors, BlackRock, JPMorgan Chase, Citi Locations: Asia, Pacific, U.S, Wells Fargo, Europe, London

☆ The 'Bitcoin Family' has a special algorithm that tracks moon cycles — and it's helped them gain 50% since the bear market bottom
▼ + stars: | 2023-07-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

Didi Taihuttu in Lagos, Portugal MacKenzie SigalosTaihuttu's indicator considers a mix of inputs, including directional trading data and moon cycles. Moving Average Convergence Divergence (MACD) compares two moving averages of a cryptocurrency's price by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. When the 50-day moving average crosses below a falling 200-day moving average, it is known as the Death Cross , signaling a bear market may be imminent. When the 50-day moving average crosses below a falling 200-day moving average, it is known as the , signaling a bear market may be imminent. Price chart showing the 'Didi BAM BAM' market indicator Didi TaihuttuAnd then there are the intangible price influencers — like moon phases.

Persons: Thailand Didi Taihuttu LAGOS, Didi Taihuttu, Portugal MacKenzie Sigalos Taihuttu's, Bitcoin, Taihuttu, DAI —, Didi, Portugal MacKenzie, Portugal —, Portugal Didi Taihuttu, Mayer, It's, Price, —, I'm, Didi Bam Bam, Thailand Didi, ChatGPT, Goldman Sachs, Marco Argenti, Goldman, Louisa, David Solomon, Morgan Stanley, Morgan, Jeff McMillan, — CNBC's Ryan Browne Organizations: CNBC, Didi BAM, BAM, Bollinger Bands, Bollinger, Lightning Networks Locations: Phuket, Thailand, PORTUGAL, Lagos, Algarve, Taihuttu, bitcoin, Portugal, cryptocurrency, ChatGPT

☆ European markets slightly lower after China's low inflation reading
▼ + stars: | 2023-07-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were slightly lower on Monday morning, as investors digest a surprisingly low Chinese inflation reading and look ahead to key U.S. data and corporate earnings later in the week. U.S. stock futures were lower in early premarket trading on Monday as investors prepared for the slate of inflation data and the start of second-quarter earnings season. U.S. stocks closed lower on Friday after the Labor Department's June jobs report showed payrolls increased less than expected, cooling down from May. The figures increased expectations that the Federal Reserve will have to restart interest rate hikes this month. There are no major corporate earnings or economic data releases due out of Europe on Monday.

Persons: Finance behemoths, Wells, Nonfarm Organizations: Finance, Finance behemoths BlackRock, JPMorgan Chase, Citi, Labor, Federal Reserve Locations: Asia, Pacific, Wells Fargo, Europe

☆ European markets lower as global economies drag; CAB Payments debuts in London
▼ + stars: | 2023-07-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

LONDON — European stock markets were lower Thursday as traders digested sluggish economic growth. The pan-European Stoxx 600 index was down 0.2% when markets opened, but quickly dropped to lose 0.8% in the first minutes of the session. British fintech company CAB Payments made its debut on the London Stock Exchange Thursday, against a backdrop of a few companies opting to list in London this year. "We are excited about London being an amazing place to list a company," Bhairav Trivedi, CAB Payments CEO, said on CNBC's "Squawk Box Europe." "We are very bullish on the London Stock Exchange," Trivedi said, adding that his company wanted to "jumpstart" the U.K. fintech market.

Persons: Bhairav Trivedi, Trivedi Organizations: British fintech, CAB Payments, London Stock Exchange Locations: British, London

☆ The risk of nuclear disaster in Ukraine skyrocketed with the destruction of the Kakhovka dam. Residents nearby are preparing for the worst.
▼ + stars: | 2023-07-03 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

In June, a controlled explosion caused the Ukrainian Kakhovka hydroelectric dam to collapse. The nearby Zaporizhzhia nuclear plant relies on water reserves to cool its power reactors. He also said the loss of the dam could also endanger the Zaporizhzhia Nuclear Power Plant, which draws on the reservoir at nearby Kakhovka for cooling. The security of the Zaporizhzhia plant — Europe's largest nuclear power plant — has been of paramount concern since the beginning of Russia's invasion of Ukraine, with Russian leader Vladimir Putin targeting the plant early on. Recently, however, the IAEA has received reports of mines placed around the Zaporizhzhia Nuclear Power Plant, a violation of the UN principles and a significant risk to the security of the nuclear reactors.

Persons: —, Nadiya Hez, Volodymyr Zelenskyy, Zelenskyy, Vladimir Putin, Rafael Mariano Grossi, Grossi Organizations: Service, New York Times, Reuters, International Atomic Energy Agency, IAEA, United Nations Security Council, UN Locations: Ukraine, Ukrainian, Kyiv

☆ Check out this $110 million tech campus being built in Lithuania — the largest in Europe
▼ + stars: | 2023-06-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The development, from Lithuanian infrastructure firm Tech Zity, is inspired by British renovation projects like the Battersea Power Station and Tate Modern art gallery. Tech ZityLithuania is building a huge tech campus — Europe's largest — in the capital of Vilnius, as it looks to become the new tech capital of the Baltics. Lithuania's growing tech sceneLithuania's tech ecosystem has grown dramatically over the past decade, Darius Zakaitis, Tech Zity's founder, told CNBC. Tech Zity manages three tech campuses in Vilnius, including Tech Park, Tech Loft, and Tech Spa, which are home to companies like Google, Bored Panda and Kilo Health. Currently occupying 20,000 square meters, Tech Zity plans to reach 80,000 square meters over time, considering new campuses, existing locations, and other projects.

Persons: Darius Zakaitis, Zakaitis, Tech Zity, Daniel Ek, Tom, Kevin, Vineted Organizations: Tech, Battersea Power, Tate, Tech Zity, New, Vilnius, Tech Zity's, CNBC, Nord, Google, Kilo Health, Tech Zity U.S, Netflix, Spotify, Nord Security, Summit, Accel Locations: Lithuanian, Battersea, Tech Zity Lithuania, Vilnius, Baltics, Lithuania, Paris, Europe, Baltic, Nord, France, Germany, Lisbon, Portugal, EQT, Russia

How India Profits From Its Neutrality in the Ukraine War The Gulf of Kutch in India is home to the world’s largest oil refinery. After Russia invaded Ukraine, tankers laden with Russian oil are an increasingly common sight along this inlet of northwestern India. China and India are buying so much Russian oil now that Moscow is selling more crude than it was before it invaded Ukraine. Russian crude shipments in the Gulf of Kutch this year Total barrels shipped between through May 2023. In December, S. Jaishankar, India’s foreign minister, was asked in Parliament about India’s decision to buy Russian crude.

Persons: Narendra Modi, Modi, Biden, Ukraine Price, —, Mukesh Ambani, India’s, Copernicus, ” Organizations: New York Times, Western, Ukraine, International Energy Agency, European Union, Argus Media, Jamnagar, Reliance Industries, Nayara Energy, Rosneft, Port, Southeast, Center, Research, Energy, Clean, United Arab Emirates, Modi government’s Locations: India, Ukraine, Kutch, Russia, SynMax, United States, Europe, Moscow, West, India China, China, Kpler, East, Jamnagar, Gujarat State, Russian, Gulf, Pipeline, Panipat, Mundra, Vadinar, Jamnagar Port Vadinar Refinery Jamnagar, Port, Nayara, Southeast Asia, Africa, Finland, Turkey, Singapore, Sikka, Asia Europe

So what's hot in fintech right now? One area fintech companies are getting excited by is an improvement to online checkout tools. Callan Carvey, global head of operations at Cleo, said the firm's AI connects to a customer's bank account to get a better understanding of their financial behavior. "A job that typically would take around one or two weeks can now be completed in 30 minutes, right. Several fintech executives CNBC interviewed spoke of how they're not interested in launching products tailored to crypto as the demand from their customers isn't there.

Persons: MacKenzie Sigalos, hasn't, they've, Starling, Richard Davies, Davies, Niklas Guske, —, B2C fintechs, David Singleton, Guske, dazzled, Cleo, Callan Carvey, Carvey, Teo Blidarus, Taktile's, Hiroki Takeuchi, Takeuchi, Changpeng Zhao, they're, Jack Zhang, Zhang, Prajit Nanu, cryptocurrencies, Banks, Nanu Organizations: Bank, fintechs, CNBC, Business, Allica Bank, B2B, Tiger, Schroders Capital, Atom Bank, Schroders, U.S . Securities, Exchange Commission, SEC, U.S, cryptocurrencies Locations: Amsterdam, MacKenzie Sigalos AMSTERDAM, Netherlands, British, Atomico, U.S

☆ Russia's War in Ukraine: Live Updates
▼ + stars: | 2023-05-31 | by ( Anushka Patil | Nataliia Novosolova | ) www.nytimes.com time to read: +3 min

Rafael Mariano Grossi, the director general of the International Atomic Energy Agency, at the U.N. headquarters in New York on Tuesday. Frontline fighting has repeatedly damaged the facility, disrupted its power supply and contributed to a staffing crisis that is “not sustainable,” Mr. Grossi said on Tuesday. Even as Russia and Ukraine accused each other of causing damage and outages, Mr. Grossi largely avoided placing blame on either country while he sought to negotiate an agreement. Speaking after Mr. Grossi’s briefing, Linda Thomas-Greenfield, the U.S. ambassador to the U.N., denounced Russia’s actions as a “clear escalation” of Moscow’s efforts to “undermine Ukrainian sovereignty and authority” over the plant. “And this undermines our ability to have confidence in the level of nuclear safety at the plant,” she said.

Persons: Rafael Mariano Grossi, Mr, Grossi, Grossi’s, Linda Thomas, Greenfield, ”, Sergiy Kyslytsya, Vassily Nebenzia, Julian Barnes Organizations: International Atomic Energy Agency, . Security Locations: New York, Russia, Ukraine, Kyiv, gunpoint, United States, U.S, Ukrainian, Russian

☆ China's first homegrown large passenger jet took its maiden flight after 16 years in the making — check it out
▼ + stars: | 2023-05-29 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

China's first domestically-made large passenger jet completed its maiden commercial flight Sunday. China's first domestically-made large passenger jet has completed its maiden commercial flight. VCG/VCG via Getty ImagesNearly 130 passengers were on board for the maiden flight, which took around two hours, Comac said. Crowds gather to watch the C919 land at Beijing Capital International Airport during its maiden commercial flight. Passengers sit on board the C919's maiden commercial flight.

☆ Putin's Victory Day speech was as extreme as ever, claiming a 'real war' was being waged against Russia, even as his military had a measly showing at the celebration
▼ + stars: | 2023-05-11 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Vladimir Putin said the West was waging a "real war" against Russia in his Victory Day speech. Victory Day is celebrated on May 9 every year in Russia to commemorate the Soviet Union's victory over Germany in World War II. Leading up to Victory Day, officials in several Russian cities canceled their parades. "He almost acts as if the world is no different than it was in World War II," Norris explained. He also said Ukraine would replace Russia's Victory Day with a new holiday to be celebrated annually on May 9 — Europe Day.

☆ China doesn't want American cars anymore — that's bad news for Ford and GM
▼ + stars: | 2023-04-22 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

American car companies' sales in China have been on a steady decline. "The market has totally changed," Ford CEO Jim Farley said about ChinaWithout China, American car companies will likely lean into US electric vehicle sales. Some of this can be attributed to Chinese car companies' ability to build better and cheaper cars, especially EVs, that consumers are keen to buy. Car companies will double down on US buyers and EVsAs the industry bounced back from the Great Recession, and China became the fastest-growing (and EV friendly) car market in the world, American car companies rushed to enter the market. The China vs America face-off is at a stalemate – for nowWhile American companies lose ground in China, there is a bright spot.

☆ BlackRock says European companies are showing 'surprise resilience' — and better value than the U.S.
▼ + stars: | 2023-03-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, October 14, 2022. LONDON — European corporate earnings were surprisingly resilient in the fourth quarter of 2022, and the continent's stock outperformance of the U.S. looks set to continue, according to BlackRock . With earnings season winding down, the Wall Street giant highlighted in a note Tuesday that European fourth-quarter earnings showed corporate health extended beyond the region's bedrock sectors of banking and energy. "Europe is the only region globally where 2024 earnings revisions are just back in positive territory," Jewell said. "Earnings in the U.K. have also been a positive surprise, even when adjusted for the size of the financial and energy sectors."

☆ Boeing CEO Calhoun just missed out on a $7 million bonus. But he still got a raise
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Boeing CEO David Calhoun missed out on a $7 million bonus last year, but still got a raise. Boeing’s proxy filing Friday disclosed that when Calhoun started as CEO of Boeing in January of 2020, the board gave him a $7 million bonus package if he completed a list of goals by the end of 2023. Because of that, the company’s filing said Calhoun will not get the $7 million. And in February the board awarded Calhoun 25,000 shares of Boeing stock as a retention bonus. In May last year, Michael O’Leary, CEO of Ryanair — Europe’s largest discount carrier, which has ordered nearly 400 jets from Boeing since 2010 — let loose a profanity-laced criticism of Boeing management.

☆ Europe is looking to tackle sky-high debt loads after signs it will dodge a recession
▼ + stars: | 2023-02-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The euro zone is now expected to have reached a GDP (gross domestic product) rate of 3.5% in 2022, rather than the 3.2% estimated in November. BRUSSELS — European officials sighed with relief Monday after new data suggested the region will avoid an economic recession. The euro zone is now expected to have reached a GDP (gross domestic product) rate of 3.5% in 2022, rather than the 3.2% estimated in November. The outlook for this year is also better with an expected GDP rate of 0.9%, compared to the 0.2% growth rate forecast just three months ago. So we need to steer the course and we need to make choices, some of them are difficult," she said.

☆ European markets set to pull back as investors watch economic data, earnings
▼ + stars: | 2023-02-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set to retreat slightly on Friday as investors digest key central bank decisions, economic data and corporate earnings. The pan-European Stoxx 600 index enjoyed a strong session on Thursday after three major central banks largely delivered on market expectations. The European Central Bank hiked interest rates by 50 basis points and signaled a further hike of the same scale in March, vowing to "stay the course" as it looks to reel in inflation. On Wednesday, the U.S. Federal Reserve raised its benchmark rate by a quarter percentage point but gave little indication of an imminent end to its hiking cycle. Investors stateside will also be looking to a key data point Friday in the form of the January jobs report.

☆ European natural gas prices return to pre-Ukraine war levels
▼ + stars: | 2022-12-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

EU energy ministers are wrangling over a proposed price cap on gas. LONDON — European natural gas prices fell this week to levels not seen since before Russia's invasion of Ukraine. At their peak in August, European gas prices topped 345 euros/MWh as Russia's weaponization of its natural gas exports to the rest of the continent in response to punitive EU sanctions, and sky-high temperatures over the summer, drove up demand while constricting supply. The spiking prices sent household energy bills soaring and have fueled a cost-of-living crisis across much of the continent. Goldman Sachs in November predicted a sharp fall in European gas prices in the coming months as nations gained a temporary upper hand on supply issues.

☆ European markets head for positive open as upbeat sentiment continues
▼ + stars: | 2022-12-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are expected to open higher on Tuesday as positive sentiment continues in the final trading days of 2022. Germany's DAX is seen opening 98 points higher at 14,036, France's CAC 40 up 44 points at 6,549 and Italy's FTSE MIB up 159 points at 24,033, according to IG. The U.K.'s FTSE index is closed Tuesday for a public holiday. Stateside, U.S. stock futures rose on Monday night as investors looked to see whether a Santa Claus rally will appear before year-end. Markets were closed Monday for the Christmas holiday.

European Union energy ministers agreed to a "dynamic" cap on natural gas prices Monday after two months of intense negotiations. Introducing a limit on gas prices has proved controversial for European officials. When applied, it will set a "dynamic bidding limit" on natural gas futures transactions for 20 working days. The Dutch TTF traded around 109 euros per megawatt hour on Monday. Kremlin spokesman Dmitry Peskov said the measure was an attack on market pricing and "unacceptable," Reuters reported, citing Russia's Interfax news agency.

Search resuls for: "— Europe"

25 mentions found