DIRS.INFO The most relevant business & tech news

☆ The Great C.S.A. Dilemma
▼ + stars: | 2023-05-11 | by ( Tanya Sichynsky | ) www.nytimes.com time to read: +1 min

For those equally frustrated by supermarket markups and interested in supporting local farmers, a C.S.A., or community-supported agriculture program, has a lot to offer. When I recently asked for your recipe quandaries, several of you wrote in to express your admiration for your C.S.A. A bevy of beetsBorscht — served warm or chilled — is an obvious option for a reason (it’s a perfect soup). David Tanis’s even simpler soup of puréed beets garnished with tarragon and chives elegantly makes use of this sturdy root vegetable. But if you’re borscht’d out, pair roasted beets with creamy yogurt and fragrant coriander.

☆ Singapore bank OCBC posts record quarterly profit, upgrades margin guidance
▼ + stars: | 2023-05-10 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

OCBC, which is also Southeast Asia's second-biggest bank by assets, said January-March net profit rose 39% to S$1.88 billion ($1.42 billion), beating the mean estimate of S$1.74 billion from five analysts polled by Refinitiv. OCBC reported a total net interest margin, a key gauge of profitability, of 2.30% for the first quarter, up from 1.55% in the same period a year earlier. The bank forecast a full-year net interest margin of about 2.2%, up from 2.1% previously. The first quarter was also strong for Singapore's other major banks, with larger peer DBS Group (DBSM.SI) reporting last week a 43% jump in first quarter net profit that was also a record. Smaller United Overseas Bank (UOBH.SI) posted last month a 74% surge in core net profit.

OCBC, which is also Southeast Asia's second-biggest bank by assets, said January-March net profit rose to a record S$1.88 billion ($1.42 billion) from S$1.36 billion a year earlier. The bank reported a total net interest margin, a key gauge of profitability, of 2.30% for the first quarter, up from 1.55% in the same period a year earlier. OCBC expected full-year net interest margin in the region of 2.2%. The first quarter was also strong for Singapore's other major banks, with larger peer DBS Group (DBSM.SI) reporting last week a 43% jump in first quarter net profit that was also a record. Smaller United Overseas Bank (UOBH.SI) posted last month a 74% surge in core net profit.

☆ Singapore bank OCBC's Q1 net profit jumps 39% to record $1.42 bln
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

SINGAPORE, May 10 (Reuters) - Singapore's second biggest lender Oversea-Chinese Banking Corp (OCBC) (OCBC.SI) on Wednesday reported a 39% jump in its first-quarter net profit from a year earlier on the back of strong net interest income growth. OCBC, which is also Southeast Asia's second biggest bank by assets, said January-March net profit jumped to a record S$1.88 billion ($1.42 billion) from S$1.36 billion a year earlier. That beat the mean estimate of S$1.74 billion from five analysts surveyed by Refinitiv. ($1 = 1.3245 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Common Consumer Products Contain Multiple Toxic Chemicals, New Study Shows
▼ + stars: | 2023-05-03 | by ( Dana G. Smith | More About Dana G. Smith | ) www.nytimes.com time to read: +1 min

More than 100 types of common consumer products contain at least one, and often multiple, chemicals linked to cancer or reproductive and developmental problems, according to research published Tuesday in the journal Environmental Science & Technology. Many of the chemicals were found in personal care products, including nail polish, shampoo, lotion and soap. Cleaning products, particularly all-purpose cleaners, laundry detergent and dish soap, also contained numerous chemicals. To compile the list of potentially hazardous products, researchers from the Silent Spring Institute and the University of California, Berkeley, cross-referenced two databases maintained by the state of California. The second was a list of chemicals flagged as being carcinogens or reproductive and developmental toxicants by Proposition 65, California’s Safe Drinking Water and Toxic Enforcement Act.

Organizations: Science, Technology, Silent Spring Institute, University of California, California Air Resources Locations: Berkeley, California

DBS, which is also Southeast Asia's largest lender by assets, said January-March net profit rose to S$2.57 billion ($1.92 billion) from S$1.8 billion a year ago, beating a mean estimate of S$2.44 billion from five analysts polled by Refinitiv. Return on equity rose to a new high of 18.6% in the first quarter from 13.1% the same quarter a year earlier, according to its financial statement. Smaller peer United Overseas Bank (UOBH.SI) reported on Thursday a 74% surge in core net profit in the first quarter from a year earlier on the back of strong net interest and non- interest income growth. DBS, which earns most of its profit from Singapore and Hong Kong, declared a dividend of 42 Singapore cents per share for the first quarter. ($1 = 1.3362 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Southeast Asia's largest lender by assets however said its net interest margin likely peaked in the first quarter and there would be a gradual decline. January-March net profit rose to S$2.57 billion ($1.9 billion) from S$1.8 billion a year ago, beating a mean estimate of S$2.44 billion from five analysts polled by Refinitiv. DBS reported a total net interest margin, a key gauge of profitability, of 2.12% for the first quarter, up from 1.46% in the same period a year earlier. DBS expected full-year net interest margin at 2.05% to 2.10%. DBS, which earns most of its profit from Singapore and Hong Kong, declared a dividend of 42 Singapore cents per share for the first quarter.

☆ Allegations against former Barclays CEO Staley 'very serious' - CEO
▼ + stars: | 2023-04-27 | by ( Lawrence White | ) www.reuters.com time to read: +1 min

LONDON, April 27 (Reuters) - Allegations made against British bank Barclays' former CEO Jes Staley regarding his ties with sex offender Jeffrey Epstein are "very serious", the lender's current CEO C.S. Venkat said the allegations were being adjudicated in New York, which he said was the "right and proper place". Both seek money damages and neither lawsuit names Staley as a defendant. In U.S. filings this week, Staley accused JPMorgan of using him as a "public relations shield" and said the allegations lacked legal or factual basis. A former investor in the bank last week said the lender should have made more checks over the matter.

☆ Japan's SMFG is first global bank to sell AT1 bonds since C.Suisse wipeout
▼ + stars: | 2023-04-19 | by ( Junko Fujita | ) www.reuters.com time to read: +2 min

AT1 bonds - the riskiest tranche of a bank's bonds also known as "contingent convertibles" or "CoCo" bonds - can be converted into equity or written off if a bank's capital level falls below a certain threshold. SMFG sold the bonds in two tranches, in 89 billion yen ($662.50 million) five-year notes, and 51 billion yen 10-year bonds. The 89 billion yen issuance carries a coupon rate of 1.879% for the initial five years and two-month period, a regulatory filing showed. "In Japan, where spreads over corporate bonds are thin, the terms for these AT1 bonds were reasonably good, provided that the banking sector is credible," said Pictet's Otsuki. Japanese banks' AT1 bonds had been configured in a way the value is secured even if the government is involved in restructuring, and SMFG's new issues are seen to have the same features, she said.

☆ UBS has hired JPMorgan to explore C.Suisse domestic spin-off -Swiss media
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre Albouy/File PhotoZURICH, April 13 (Reuters) - UBS (UBSG.S) has hired JPMorgan (JPM.N) to explore a possible IPO of Credit Suisse's (CSGN.S) domestic business, Zurich based finance blog Inside Paradeplatz reported on Thursday. Last month UBS agreed to takeover Credit Suisse for 3 billion francs as part of a merger engineered by Swiss authorities, while the Alpine state put up more than 200 billion francs of support and guarantees. Speaking at its general assembly last week, Vice Chairman Lukas Gaehwiler said that "all options are on the table" concerning Credit Suisse's domestic business. UBS and Credit Suisse declined to comment.

☆ N.C.A.A. Bracket Picks: Where Fans and Experts Diverge
▼ + stars: | 2023-03-15 | by ( Josh Katz | Alice Fang | ) www.nytimes.com time to read: +8 min

One avenue is examining the differences between the forecasts of mathematical models and the collective choices of fans. For example, fans are much more likely to have Kansas and Alabama in the Final Four than the experts. The table below shows an aggregate view of the difference between the public’s picks and those of forecasting models. But if you pick the same teams as everyone else, your bracket will look the same, too, something you should consider. There is no guarantee that this approach will work, of course, and part of the draw of the N.C.A.A.

Earlier in the day, Japan's Topix bank index (.IBNKS.T) lost 4%, while Singapore's largest banks also lost ground, down over 1%. The U.S. government stepped in on Sunday with a series of emergency measures to shore up confidence in the banking system following the failure of Silicon Valley Bank (SVB) (SIVB.O), which marked the biggest U.S. bank failure since the 2008 financial crisis. Smaller banks remained under pressure with U.S. private bank First Republic Bank (FRC.N) plunging around 50% in pre market, and PacWest (PACW.O) down around 26%. U.S. banks lost over $100 billion in stock market value late last week following the collapse, while European banks lost around another $50 billion in value, according to a Reuters calculation. U.S. state regulators on Sunday also closed New York-based Signature Bank (SBNY.O), which became the next casualty of the banking turmoil after SVB.

☆ Asian bank stocks tumble as US systemic concerns prevail
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

In Hong Kong, shares of HSBC Holdings opened roughly 1.7% lower at a two-month trough while Standard Chartered Bank shares fell nearly 1% to a one-month low. U.S. banks lost over $100 billion in stock market value late last week following the collapse, while European banks lost around another $50 billion in value, according to a Reuters calculation. U.S. state regulators on Sunday also closed New York-based Signature Bank (SBNY.O), which became the next casualty of the banking turmoil after SVB. Elsewhere in Asia, Japan's Topix (.TOPX) was last 2% lower, dragged heavily by financial stocks. Shares of Singapore's largest bank DBS (DBSM.SI) slid to their lowest since late October last year, at S$32.71 ($24.32), while OCBC's shares (OCBC.SI) lost close to 1.5%.

☆ Mercuria leads funding round for engine tech firm ClearFlame
▼ + stars: | 2023-03-09 | by ( Simon Jessop | ) www.reuters.com time to read: +3 min

[1/2] A flag with the logo of Mercuria commodity trading house is pictured in Geneva, Switzerland, October 11, 2016. ClearFlame, whose technology allows diesel engines to run on more climate-friendly fuels, said the Series B round was also backed by WIND Ventures, the venture arm of Chile's COPEC (COPEC.SN), and existing investor Breakthrough Energy Ventures. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia. Diesel accounts for around 26% of carbon emissions from the transport sector, ClearFlame said, and is also responsible for particulates and black soot. Mercuria's Boris Bystrov said in a statement that its investment reflected a belief that ClearFlame's technology can "economically decarbonise the heavy-duty industry".

☆ Barclays CEO Venkat completes treatment for cancer, in remission
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 3 (Reuters) - British bank Barclays (BARC.L) said on Friday that its chief executive C.S. Venkatakrishnan has completed treatment for non-Hodgkin lymphoma, a type of cancer, and is now in remission. "I am pleased to inform you that I have completed the treatment for non-Hodgkin lymphoma that I commenced last November. I am now in remission (no evidence of disease)," Venkatakrishnan told colleagues in a letter, according to a company statement. The CEO, known inside the bank as Venkat, had previously said in November that doctors viewed his prognosis as "excellent" and that he would keep working when possible, while receiving treatment in New York.

☆ UOB completes deal for Citi's Vietnam consumer banking business
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, March 1 (Reuters) - Citigroup (C.N) said on Wednesday that it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore's United Overseas Bank in a transaction expected to result in a "modest regulatory capital benefit". United Overseas Bank (UOBH.SI), commonly known as UOB, said in a separate statement that it planned to complete the acquisition of Citigroup's Indonesian consumer banking business by the end of 2023. The lender announced in November the completion of its purchase of Citigroup's Malaysia and Thailand retail banking businesses. UOB's purchase of Citigroup's consumer businesses in the four Southeast Asian markets for about S$5 billion ($3.71 billion) marks its biggest acquisition in two decades. ($1 = 1.3476 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Returning pharma CEO has one prescription: M&A
▼ + stars: | 2023-02-17 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 17 (Reuters Breakingviews) - Brent Saunders is back in charge of a pharmaceutical company, which usually means one thing: M&A. The buyer, Actavis, appointed Saunders CEO of the combined company. Bausch + Lomb remains a subsidiary of Bausch Health, which owns nearly 90% of the shares. Considering Bausch Health’s stake in Bausch + Lomb is worth more than $5 billion, the implication is that bondholders are in charge. Saunders was CEO of Bausch + Lomb from 2010 until 2013, when it was acquired by Valeant Pharmaceuticals.

☆ Barclays docks execs' pay by 1 million pounds over regulatory failures
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 15 (Reuters) - Barclays (BARC.L) has docked the pay of some top executives by a combined 1 million pounds ($1.2 million) in 2022, following regulatory misteps and a costly overissuance of billions of dollars worth of investment products in the United States. The British bank said in its annual report that it had cut the 2022 bonus for Chief Executive C.S. Venkatakrishnan by 403,000 pounds, while Finance Chief Anna Cross saw her compensation docked by 166,000 pounds. Some long term awards had also been clawed back from former executives, including those earned by ex-finance chief Tushar Morzaria, the bank said. Venkatakrishnan's total pay package for the year was 5.2 million pounds, which the bank said could rise to a maximum 9.7 million pounds if long-term awards were paid out in full.

☆ Barclays posts 19% slide in annual net profit after costly U.S. trading blunder
▼ + stars: | 2023-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Here are the other financial highlights:Common equity tier one capital (CET1) ratio was 13.9%, compared to 13.8% in the previous quarter and 15.1% for the final quarter of 2021. Return on tangible equity (ROTE) was 8.9% for the fourth quarter, compared to 12.5% in the third quarter and 13.4% for the fourth quarter of 2021. Net interest margin (NIM) was 2.86% for the full year, compared to 2.52% at the end of 2021. The bank booked £1.2 billion in credit impairment provisions, versus a £700 million charge in 2021. Barclays declared a total dividend for 2022 of 7.25 pence per share, up from 6 pence in 2021, including a 5 pence per share full-year dividend.

☆ Singapore's DBS profit jumps two-thirds, CEO sees rate rises moderating
▼ + stars: | 2023-02-12 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

DBS Chief Executive Piyush Gupta said in the bank's results statement that interest rate increases are likely to moderate, but he doesn't expect rate cuts this year. We expect confidence to return to markets in the coming year as interest rate increases ease and China reopens," Gupta said. DBS reported a total net interest margin, a key gauge of profitability, of 2.05% for the latest quarter, up from 1.43% in the same period a year earlier. DBS' annual profit soared 20% to a record S$8.2 billion. Smaller peers OCBC (OCBC.SI) and UOB (OCBC.SI), which report results next week, are also expected to post a sharp rise in annual profits, but quarter-on-quarter earnings are seen as being flat to slightly lower.

☆ Chilean wildfires destroy hundreds of homes, endanger world's smallest deer
▼ + stars: | 2023-02-08 | by ( Ivan Alvarado | ) www.reuters.com time to read: +3 min

"We call on everyone who can to take care of the forests which are currently on fire, and also of our animals, specimens of vital importance," said Valentina Aravena, the manager at a wildlife rehabilitation center in Chillan. Late on Wednesday, Interior Minister Carolina Toha said the government would declare a curfew in some provinces starting on Thursday. In the rehabilitation center in Chillan, the capital of the Ñuble region, veterinarians treated burns on animals native to the woodlands, such as monito del monte, a small nocturnal marsupial, and pudus, the world's smallest deer. [1/7] A Pudu, the world's smallest deer, rescued from a wildfire, receives care from vets at a wildlife rehabilitation center of Concepcion University, as wildfires continue in the central-southern zone of Chile, in Chillan, Chile, February 8, 2023. A day earlier, a Chilean minister warned that high temperatures forecast for this week could further complicate the situation.

☆ Barclays replaces co-heads of equities business
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 6 (Reuters) - Barclays' (BARC.L) co-heads of equities, Todd Sandoz and Paul Leech, have stepped down from their roles and left the bank, a company spokesperson said on Monday, as the British bank continues a reshuffle of its investment bank's management. Stephen Dainton, who has run the business in the past, has taken over as interim global head of equities, the spokesperson said, in addition to keeping his current role as co-head of global markets. The bank now needs a single leader for the business to keep growing market share and returns, the memo said. Barclays is conducting a search for a permanent leader for the equities business, it added. The move is the latest in a series of changes at the top of Barclays' investment bank, after it last month appointed former Credit Suisse dealmaker Cathal Deasy and Taylor Wright as co-heads of investment banking.

☆ Morning bid: Running out of breath
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Asian equities held steady on Wednesday near seven-month highs after a mixed session on Wall Street. On a thin day for economic data, focus will be on U.K. producer prices and the German IFO. Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday. The forecast, which tracks companies listed on the pan-European STOXX 600 (.STOXX) benchmark index, represents a drop from last week when analysts expected revenue growth of 4%. Analysts downgrade earnings forecastsInvestment strategists at Standard Chartered say it is time to fade the rally seen in European stocks and the euro since the lows of September.

☆ Barclays names former Credit Suisse dealmaker Deasy as investment banking co-head
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 24 (Reuters) - Barclays (BARC.L) has appointed former Credit Suisse (CSGN.S) dealmaker Cathal Deasy as co-head of investment banking, the lender said on Tuesday, as Chief Executive C.S. Deasy left Credit Suisse a few weeks ago, just months after being promoted to regional co-head of its investment banking & capital markets (IBCM) unit. JF Astier and John Miller, who currently lead investment banking, are in "active dialogue" with Barclays about what roles they might now take, a Barclays spokesperson said. Astier and Miller were promoted in 2021 to lead investment banking as part of a new management team. Barclays' investment bank has had a strong performance in recent quarters, thanks in part to a boom in fixed income trading, which has traditionally been one of its core strengths.

Most people are aware of gift cards for restaurants or retail stores, but the purchasing power of gift cards is nearly limitless. Throughout the year, we gifted the kids gift cards for Valentine's Day and Easter while also purchasing gift cards whenever our family budget allowed. Cash App Investing does not trade bitcoin and Cash App is not a member of FINRA or SIPC. Show more Minimum Deposit Amount $0 Editor's Rating 4 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Whether you're using gift cards to save up for your family's dream vacation or for a major purchase, buying gift cards is an ideal alternative to conventional saving.

Search resuls for: "C.S"

25 mentions found