DIRS.INFO The most relevant business & tech news

☆ Here's what to watch out for in Friday's jobs report for May
▼ + stars: | 2023-06-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Joe Raedle | Getty ImagesWatching the monthly jobs reports this year has been something of a waiting exercise, with economists and market participants looking for a downturn that never seems to arrive. But judging by the way these reports have been going, the risk is probably to the upside in a jobs market that has been nothing if not resilient. "The labor market still looks tight. Defying the FedThe tight labor market and the pressure that has put on wages and inflation has bedeviled the Federal Reserve. A 'fully staffed' jobs market?

Persons: Joe Raedle, Dow Jones, We're, Joseph LaVorgna, LaVorgna, payrolls, we're, Donald Trump, Philip Jefferson Organizations: Labor Department, Nikko Securities America, National Economic Council, Federal Reserve Locations: Miami , Florida

Ron DeSantis has said little publicly about the six-week abortion ban he signed this year or about former President Donald Trump. “Some people are at six weeks, some people are at three weeks, two weeks,” Trump told CNN’s Kaitlan Collins. “Without me there would be no 6 weeks, 10 weeks, 15 weeks, or whatever is finally agreed to. Thank you President TRUMP!! DeSantis signaled early that he intended to track to the right of Trump on at least one issue: the pandemic response.

☆ Instant View: US March PCE price index shows high, but cooling, inflation
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +5 min

The personal consumption expenditures (PCE) price index gained 0.1% in March after rising 0.3% in February. In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. "Will the Fed raise rates at the May meeting. I don't think it'll influence them one way or another but we expect them to raise rates again. I don’t think it’s going to impact the Fed much if at all.

☆ U.S. dollar firms as inflation data backs Fed hike; yen plunges
▼ + stars: | 2023-04-28 | by ( ) www.cnbc.com time to read: +3 min

The dollar index, a measure of the greenback's value against six major currencies, rose 0.2% to 101.65. Friday's data showed the personal consumption expenditures (PCE) price index edged 0.1% higher in March after rising 0.3% in February. In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. The so-called core PCE price index gained 4.6% on a year-on-year basis in March after rising 4.7% in February. Following the inflation data, the rate futures market has priced in a 90% chance of a 25 basis-point hike next week.

☆ Florida surgeon general appointed by DeSantis cut data from a COVID-19 vaccine safety study
▼ + stars: | 2023-04-25 | by ( Associated Press | Sarah Gray | ) www.businessinsider.com time to read: +4 min

Florida Surgeon General Joseph Ladapo cut data from a COVID-19 vaccine safety study, per multiple reports. Ron DeSantis in 2021 to head the Florida Department of Health. The nonbinding recommendation made by Florida Surgeon General Joseph Ladapo last fall ran counter to the advice provided by the federal Centers for Disease Control and Prevention. Ladapo said that the risk of men ages 18 to 39 having cardiac complications outweighed the benefits of getting the mRNA vaccine. "(The vaccine) has done a lot to advance the health of people of Florida and he's encouraging people to mistrust it."

☆ Fed needs to see people coming into the labor force, says economist Betsey Stevenson
▼ + stars: | 2023-04-07 | 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 EmailFed needs to see people coming into the labor force, says economist Betsey StevensonJoseph LaVorgna, SMBC Nikko Securities America chief economist, and Betsey Stevenson, professor of economics at the University of Michigan, join CNBC's "Squawk Box" discuss Friday’s jobs report.

☆ Starbucks customers are complaining about stomach issues from new olive oil-infused coffee
▼ + stars: | 2023-04-06 | by ( Joseph Lamour | ) www.cnbc.com time to read: +3 min

In it, they share an experience their coworkers allegedly had after trying the new roster of Oleato drinks. For those unfamiliar, these new coffee drinks are infused with Partanna cold-pressed extra-virgin olive oil and debuted on Feb. 21 in limited markets. I'm wondering how many people are going to have happen to them what a few happened to our team," wrote Redditor u/MoodyStarGirl. "The cold brew is fine until you taste the foam because it's two pumps of olive oil. you're immediately hit with just olive oil and i wanted to throw up after yeah i do not recommend."

☆ Ethereum co-founder says ether is not a security
▼ + stars: | 2023-03-23 | 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 EmailEthereum co-founder says ether is not a securityJoseph Lubin, co-founder of the Ethereum Foundation, discusses the crypto market environment, regulators' crackdown on the space, and the hotly contested debate over whether ether should be classed as a security.

☆ Ethereum co-founder says ether not a security, compares it to oil after regulator claims
▼ + stars: | 2023-03-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The co-founder of Ethereum, Joseph Lubin, hit out at regulators likening the ether cryptocurrency to a security Wednesday, saying it was more akin to a commodity like oil. In an interview with CNBC's Arjun Kharpal at the Paris Blockchain Week Thursday, Lubin said he was "very confident" ether was not a security. If it were treated as such, ether would need to be registered with regulators and subjected to much stricter requirements around pre-clearance and reporting. "It's unfortunate that that sort of side swipe was made, but I don't think it's all that relevant," James said. Ether is different from bitcoin in that it fuels an ecosystem of applications where users can make trades, loans, or buy nonfungible tokens.

☆ One year after the first rate hike, the Fed stands at policy crossroads
▼ + stars: | 2023-03-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

"That being said, given the fact the Fed has tightened as aggressively as they have, the economy is still very good." But recent days have shown the Fed has another problem on its hands besides inflation. watch nowBecause prices fall when rates go up, the Fed hikes have cut into the market value of those fixed income holdings. Rate hike expected"If you're waiting for inflation to go back to 2% and that's what's caused you to raise rates, you're making a mistake," said Joseph LaVorgna, chief economist at SMBC Nikko Securities. Since the rate increases started, depositors have pulled $464 billion from banks, according to Fed data.

☆ After Silicon Valley Bank's shutdown, uninsured depositors face tense wait
▼ + stars: | 2023-03-10 | by ( Pete Schroeder | ) www.reuters.com time to read: +3 min

But failing that, uninsured depositors will be left with a portion of whatever funds the FDIC can raise selling off the bank's assets. SVB Financial Group's (SIVB.O) Silicon Valley Bank had a relatively high amount of uninsured deposits as it courted tech workers and venture capital firms. The FDIC said on Friday the amount of uninsured deposits at the bank was “undetermined,” likely complicated by the rush of bank customers to remove uninsured funds. But Silicon Valley Bank’s relatively well-off clientele could be the exception, and the push for full repayment was already coming from some corners. But that process can be lengthy, leaving uninsured depositors in the dark.

Based on traditional and long-abandoned fixed policy models, Cleveland Fed researchers reckon policy is already more aggressive than any of those rules suggest. The political and policy appetite for zero interest rates or quantitative easing - which seemed to chase estimates of R-star ever lower over the past decade - is gone. At the same time, real yields above 4% have proven unsustainable historically. Bhatia feels real yields somewhere in the middle is where markets will settle. Given the economy-wide accumulation of debt over recent years, real 10-year yields in a 1.5%-2.0% range probably works.

☆ Brace for a 'wrathful Old-Testament-style' central bank reaction to sticky inflation that could cause a deep US recession, says JPMorgan
▼ + stars: | 2023-02-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Prepare for a more forceful "Old-Testament style" central bank reaction to stubborn inflation, JPMorgan economists say. "The risk of triggering a more wrathful Old-Testament style central bank reaction is on the rise," they said in a note. Such aggressive policy reaction could lead the US economy into a deeper recession later this year, they added. "The risk of triggering a more wrathful Old-Testament style central bank reaction is on the rise. Possible scenarios projected by the analysts include the Fed ending rate hikes next quarter, with its cumulative rate hikes of about 500 basis points since early 2022 leading to a US-concentrated recession later this year.

☆ A fugitive billionaire just auctioned off $3.2 million worth of luxury handbags — see highlights from his prized collection
▼ + stars: | 2023-02-09 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Billionaire Joseph Lau sold $3.2 million worth of luxury handbags at a Sotheby's auction. Lau is a prolific collector who's purchased roughly 1,500 Hermès bags, Bloomberg reported. The collection included one Chanel bag and 76 Hermès bags, including both the iconic Birkin and Kelly styles. Lau's collection extends beyond handbags to diamonds — including a $53 million 12-carat blue diamond — and art by Andy Warhol and Jean-Michel Basquiat, Bloomberg reported. Lau has auctioned off other pieces in his collection over the years, including $20 million worth of art and fine wine.

☆ Markets may be taking the wrong read from January's shocking jobs report
▼ + stars: | 2023-02-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"The resounding strength of January employment report does not change our view of the labor market. Significant imbalances remain in the labor market due to too much excess demand and limited labor market slack," added Michael Gapen, chief U.S. economist at Bank of America. That's because they see the jobs report gain of 517,000 as a potential impetus to push the Fed into more aggressive interest rate hikes. He thinks future months will show a slowing labor market that will force the Fed into halting its hikes. "From a data-dependency perspective, the strength of the labor market suggests there might be need to continue to raise interest rates."

The central bank lifted its main funds rate by 25 bps to its highest since 2007 as it continued its fight against inflation. Yet the S&P 500 (.SPX) hit a five-month high, as traders focused resolutely on the idea that the world's most influential central bank would change course soon. Government bond markets meanwhile continued to price in rate cuts by year-end as the economic cycle turns. Over in Europe, the European Central Bank delivered a hefty 50 bps hike on Thursday and promised more of the same for March and beyond. "In terms of the impact of (central bank) hawkishness on markets," he added, "this has significantly softened."

☆ Some economists see a 'rolling recession' ahead. Here's what that means
▼ + stars: | 2023-01-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Termed "rolling recessions," the idea is that rather than contract broadly and all at once, the economy could see different sectors decline in succession, one after the other. I think we will see rolling recession in the future." Sonders is a proponent of the "rolling recession" theory and noted that stocks can perform well even in downturns. A traditional recession looms To be sure, there are detractors to the "rolling recession" theory. "Have we ever had a period where both housing and manufacturing were in recession at the same time and we didn't have a recession?"

☆ Crypto company ConsenSys lays off 96 employees - blog
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

Jan 18 (Reuters) - Blockchain technology company ConsenSys plans to cut 11% of its workforce, or 96 jobs, according to a letter from chief executive officer Joseph Lubin on Wednesday. The job cuts will help reduce operating expenses while increasing the strength and focus of the product teams to "adjust to challenging and uncertain market conditions," the letter said. Reporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ At Southwest in Phoenix, Quick Check In but a Swelling Baggage Claim
▼ + stars: | 2022-12-28 | by ( Dawn Gilbertson | ) www.wsj.com time to read: 1 min

PHOENIX—Carol and Joseph Lepich were blissfully unaware of Southwest Airlines ‘ holiday meltdown when they woke up Tuesday morning. The Sacramento retirees tried to check in for their flight on the Southwest app and found out it was canceled. They then drove to Sky Harbor International Airport to rebook their flight.

☆ For Southwest Fliers, a Swelling Baggage Claim and Still No Way to Get Home
▼ + stars: | 2022-12-28 | by ( Dawn Gilbertson | ) www.wsj.com time to read: 1 min

PHOENIX—Carol and Joseph Lepich were blissfully unaware of Southwest Airlines Co.’s holiday meltdown when they woke up Tuesday morning. The Sacramento retirees tried to check in for their flight on the Southwest app and found out it was canceled. They then drove to Sky Harbor International Airport to rebook their flight.

I figure out which restaurant or retailer they like, purchase a gift card, and gift the card to them. Featured Partner Offer Cash App - Send Gift Cards to Friends and Family Instantly A tooltip *Cash App is a financial platform, not a bank. Gift cards can score deals for the giver, tooSo many retailers and restaurants offer bonuses when you purchase a gift card. I buy them a gift card, and in return, I get another gift card for myself and my wife. My home is still divided on whether or not gift cards are the best gift to give.

☆ DeSantis' latest anti-COVID-19 vaccine push puts him on a collision course with Trump over the pandemic
▼ + stars: | 2022-12-14 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +11 min

Ron DeSantis intensified his attacks on the COVID-19 vaccines on Tuesday, in a move that positions the Republican governor to contrast his pandemic record with that of former President Donald Trump. It's not clear whether Trump will lean into his success on the COVID-19 vaccine through his Operation Warp Speed program. Then-President Donald Trump with then-Florida governor candidate Ron DeSantis at a July 2018 “Make America Great Again” rally in Tampa, Florida. For instance, the FDA and CDC have cleared the bivalent booster for those as young as 6 months of age depending on what COVID-19 vaccine a person has previously had. The committee will issue guidance about COVID vaccines and other healthcare matters.

☆ Ron DeSantis outflanks Trump on the right with his call for Covid vaccine probe
▼ + stars: | 2022-12-13 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Ron DeSantis was positioning himself to get to the right of the former president over the issue of Covid vaccines. DeSantis, who is mulling whether to challenge Trump in the 2024 Republican primary for president, deepened those suspicions Tuesday. That’s his record,” said Roger Stone, a longtime adviser to Trump and an outspoken critic of DeSantis. The poll also showed DeSantis ahead of President Joe Biden in a theoretical general election matchup by 47%-43%, but Biden topped Trump 47%-40%. “So the only option for DeSantis to pose a challenge to Trump is to attack him on the vaccine.

DeSantis has made Covid-19 vaccine skepticism his calling card ahead of a potential run for the 2024 Republican presidential nomination. The announcements Tuesday came at a roundtable focused on vaccines that DeSantis led. The risk of heart inflammation is far greater from Covid-19 than from vaccination. DeSantis last year moved to block cruise lines departing from Florida from requiring their customers to be vaccinated, and to block municipalities from imposing vaccine mandates. In June, DeSantis touted Florida’s status as the only state not to preorder vaccines for children younger than 5.

☆ The worst of inflation is likely over, but the worst for the economy probably isn't
▼ + stars: | 2022-12-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

While the inflation rate is still extraordinarily high, there's widespread agreement that the peak has passed. In fact, the only sector where interest rate increases have seemed to hit so far has been housing. So with lots of policy tightening still in the pipeline, softer inflation's accompanying economic slowdown is yet to come. The Fed's critics worry that the rate increases may have gone too far and could be a severe weight on the economy once inflation wears off. However, following the CPI report traders priced in a lower "terminal rate," or end point for the Fed rate hikes.

Search resuls for: "Joseph L"

25 mentions found