DIRS.INFO The most relevant business & tech news

The price cap idea has led to persistent disagreements between the EU's 27 member states. Belgium, Greece, Italy and Poland are among the countries most vocal in calling for a gas price cap to be implemented, while the bloc's largest economy Germany has led the opposition. Historically, the gas price at the TTF hub has been used as a benchmark for LNG deliveries into Europe. PRICE CAP ON RUSSIAN GASThe Commission suggested a Russian gas price cap in September, but dropped the idea after resistance from central and eastern European countries worried Moscow would retaliate by cutting off the gas it still sends to them. Given that fall, some EU diplomats said a price cap would do little to reduce European gas prices, and would function as more of a geopolitical move to cut revenues to Moscow.

☆ The investment case for next-gen trading stocks like Coinbase and SoFi despite crypto contagion
▼ + stars: | 2022-11-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Nevertheless, crypto trading services such as those offered by Coinbase , SoFi and Robinhood are likely to suffer a lull nevertheless as retail and institutional investors alike exit the market or try and move past their fear of another upheaval. "We are updating our model to reflect a 'lower for longer' assumption, particularly as it pertains to retail trading," Budish said. SoFi in a unique position This week, Democratic senators urged regulators to look into SoFi's trading activity as Washington attempts contemplates acting on FTX's spectacular collapse. SoFi has said its crypto revenue exposure is immaterial, it's compliant with regulators, doesn't do any crypto lending and had no exposure to FTX. However, it's possible that SOFI may find itself more heavily regulated with potential for incremental capital and liquidity requirements."

BRUSSELS, Nov 22 (Reuters) - The European Commission proposed introducing a gas price cap for one year from Jan.1, 2023, according to draft legislation seen by Reuters that has so far left the actual ceiling level blank. The idea to cap prices has divided EU countries for many months. The Commission's latest proposal will be debated by energy ministers from the bloc's 27 member countries on Thursday. An EU official said the Commission would propose a price higher than backers of the cap want. Divided as ever, EU countries are unlikely to agree on these crucial details of a cap this week, said the sources.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended redemptions on Wednesday citing the failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action, as its sudden collapse ripples across the industry. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. Bloomberg on Tuesday also reported that U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning. Elsewhere, crypto exchange Binance, in a response to a hearing on the crypto industry by a British parliamentary committee on Monday, said it had not contributed to FTX's collapse. The U.S. House Financial Services Committee said Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX.

Nov 16 (Reuters) - Crypto broker Genesis Global Capital is suspending redemptions and new loan originations at its lending business, it said on Wednesday, in the latest sign of the industry fallout from last week's collapse of major crypto exchange FTX. "We have taken the difficult decision to temporarily suspend redemptions and new loan originations in the lending business. We are working diligently to shore up the necessary liquidity to meet our lending client obligations," a Genesis spokesperson said in a statement. U.S. court filings showed Sam Bankman-Fried, FTX's founder, is being sued in a U.S. class action by investors alleging the company's yield-bearing crypto accounts violated Florida law. The proposed class action filed late on Tuesday in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States.

☆ Opioid overdose reversal drug likely safe for OTC use, says FDA
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Opioid overdose reversal drug naloxone may be safe and effective for over-the-counter use in some forms, the U.S. Food and Drug Administration (FDA) said on Tuesday, potentially paving the way for its use federally. The FDA would still require data on individual products from manufacturers for them to be available over the counter at a federal level. The drug regulator's preliminary assessment included up to 4 milligrams dose of naloxone nasal spray and up to 2 milligrams when given through an auto injector. The agency said the assessment does not cover higher dose naloxone products and those supplied in other forms for which more data was needed. More than 16,000 people have died from overdoses involving prescription opioids in 2020, according to government data.

☆ Indian companies turn to exotic options to manage fx costs, risks
▼ + stars: | 2022-11-09 | by ( Nimesh Vora | ) www.reuters.com time to read: +3 min

MUMBAI, Nov 9 (Reuters) - A few large Indian companies are returning to exotic currency options to deal with the rupee's volatility as they look to manage hedging costs and foreign exchange risks. These options provide companies increased flexibility to manage their currency risks. Companies are specifically turning to barrier options, a class of knock-out or knock-in options that are exercisable or expire worthless depending on whether a particular level on the underlying asset is reached. When used with proper risk assessment, barrier options help to manage the premium cost, a trader with a large private sector bank said. Meanwhile, foreign exchange consultants warned against large-scale use of exotic options.

☆ Frankfurt steps up efforts to shift euro clearing from London
▼ + stars: | 2022-11-01 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

LONDON, Nov 1 (Reuters) - Deutsche Boerse's (DB1Gn.DE) derivatives division stepped up efforts on Tuesday to attract a bigger slice of multi-trillion euro derivatives clearing from London to its base in Frankfurt ahead of anticipated European Union legislation. More than 600 clearing members and buy-side clients have been signed up by Eurex Clearing for swaps clearing, but many of the accounts are inactive. LSEG has repeatedly said there has been no material shift in volumes from London to Frankfurt, and some 75% of euro interest rate swaps are traded among non-EU counterparts in any case. Banks say privately that mandating a shift in euro clearing would hit EU banks most as they benefit from LCH's multi-currency pool, while Eurex focuses on the euro. Global banks say they can also shift clearing to U.S. clearers which have open ended permission from Brussels to serve customers in the EU.

☆ Libor demise and Brexit reshape derivatives market, says BIS
▼ + stars: | 2022-10-27 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

"The most significant factor contributing to the decline in turnover is the continuing shift away from Libor for major currencies," the BIS said in its latest triennial snapshot of the global OTC interest rate derivatives market. Banks and their clients use interest rate swaps to insure themselves against unexpected moves in borrowing costs. Replacing Libor shrank turnover in forward rate agreements or FRAs, a type of derivatives contract, with turnover in dollar FRAs tumbling by 98%. BIS OTC Derivatives Graphic 1Sales desks in Britain recorded the highest turnover of interest rate derivatives, at $2.6 trillion, or 46% of global 'net-gross' turnover, down from 51% in 2019. BIS OTC Derivatives Graphic 2Reporting by Huw Jones; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ VIEW Rishi Sunak to become Britain's new PM, UK markets rally
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +8 min

LONDON, Oct 24 (Reuters) - Former British finance minister Rishi Sunak will be Britain's next prime minister after his rivals quit the race, which analysts said had relieved some of the nervousness around the outlook for the UK economy, boosting domestic markets. The new Prime Minister needs to confirm their leadership team as soon as possible and provide clarity on their strategy for stabilising the economy and their policy priorities. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK:"Coming to a very rapid decision on who the prime minister is going be certainly breathes a sigh of relief into the markets. RUTH GREGORY, SENIOR UK ECONOMIST, CAPITAL ECONOMICS, LONDON:"The fall in gilt yields on the news today that Rishi Sunak will become the UK’s next Prime Minister has reduced the chances of a significant fiscal consolidation. With the pound, just because we have a new Prime Minister in place, all of the issues don't just go away and we still have remarkable strength being enjoyed by the dollar."

☆ Factbox: How is Germany replacing Russian gas?
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Oct 24 (Reuters) - Germany, Europe's biggest economy and historically a major importer of Russian gas, is scrambling to secure alternative supplies following a plunge in flows from Russia since its invasion of Ukraine. Germany is sourcing more gas from Benelux countries, Norway, and France. IMPORTERS' STRATEGIESStricken importer Uniper (UN01.DE) has said it is sourcing Norwegian, Dutch and Azeri gas via pipelines and using its global role as a trader of liquefied natural gas (LNG) to procure more of the super-cooled gas into north western Europe. LNG TERMINALSIn the absence of LNG reception terminals, Germany is building floating LNG terminals (FSRUs), of which two will be ready at the turn of the year, in Brunsbuettel and Wilhelmshaven. In the long term, fixed onshore terminals will be built with a view to receiving gas, carbon-free hydrogen, and ammonia.

☆ Hearing Aids Are Now For Sale Over the Counter: What You Need to Know
▼ + stars: | 2022-10-19 | by ( Julie Jargon | ) www.wsj.com time to read: 1 min

Over-the-counter (OTC) hearing aids are finally hitting store shelves this week, following approval in August by the Food and Drug Administration. Instead of paying several thousand dollars for a pair of doctor-prescribed hearing aids, consumers now can save money by buying them online and at retail stores. About 37.5 million American adults have some hearing problems, but only about one-fifth of people who would benefit from a hearing aid use one, according to the FDA. High costs, lack of access and social stigma prevent some people from using hearing aids, the FDA said. The new OTC models are meant to make it easier for people with hearing loss to get help.

☆ J&J stock dip after earnings beat reflects 2022 outperformance rather than the results
▼ + stars: | 2022-10-18 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

On an adjusted operational basis, which excludes the impact of acquisitions and divestitures and currency, sales rose 8.2%. Management said on the call they continue to see this business on track for its 11th consecutive year of above-market adjusted operational sales growth in 2022. Driving the results were increased sales of Stelara on the back of market growth and market share gains in Crohn's Disease and Ulcerative Colitis. Women's Health sales increased 7.9% on an operational basis to $225 million versus the $222 million expected. On a reported basis, management tightened their EPS guidance range to $10.02 to $10.07 from $10 to $10.10 previously.

☆ 15 best skin care products for rosacea and redness
▼ + stars: | 2022-10-17 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +20 min

SKIP AHEAD Best products for rosacea | How to best manage rosacea | What type of products should you avoid with rosacea? The best products for rosacea in 2022Our expertssaid that a skin routine with gentle, non-abrasive products is best for people with rosacea. Cetaphil’s Gentle Skin Cleanser is recommended by dermatologists thanks to its gentle, non-foaming formula that helps hydrate and soothe rosacea-prone skin. Clinique’s Redness Solutions skin care line offers everything from cleansers to sunscreens that can be beneficial for those with redness and rosacea. Like Avene, La Roche-Posay is a French brand that makes gentle products for sensitive skin — our experts recommended this brand for both rosacea and acne-prone skin.

☆ Wall Street surges as market seeks bottoming signs
▼ + stars: | 2022-10-17 | by ( Reuters Staff | ) www.reuters.com time to read: +6 min

FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. That seems to be the daily MO for the market.”PHIL BLANCATO CEO OF CEO OF LADENBURG THALMANN ASSET MANAGEMENT“This is the turnaround week every single year. If you look for the single best turnaround week for the year, it’s always the second week of October. The fourth quarter is on average the best quarter every single year and on average the turnaround week happens the second week of October. You’re seeing earnings hold on so far.

☆ Hearing aids: Americans can now buy them over the counter
▼ + stars: | 2022-10-17 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

He saw an audiologist who said he needed hearing aids, but they would have cost him more than $6,000. On Monday, for the first time, adults with mild to moderate hearing loss in the US will be able to buy over-the-counter hearing aids. Now, instead of getting a prescription and having a custom fitting with a hearing health professional, adults can buy hearing aids directly from a store or online. Why hearing aids matterHearing aids aren’t just nice to have; they are essential for physical and mental health. Hearing aids are different than glasses; it can take your brain up to four weeks to adjust to hearing in a new way.

☆ Hearing aids: What to know about buying them over the counter
▼ + stars: | 2022-10-17 | by ( Raenu Charles | ) edition.cnn.com time to read: +8 min

Younger individuals tend to overestimate their degree of hearing loss, while older individuals tend to underestimate their hearing loss,” Creed said. Hearing amplifiers magnify all sound, but hearing aids are customized to suit a person’s hearing needs. Hearing aids sold over the counter will be regulated on October 17, but hearing amplifiers are unregulated. If the product doesn’t say “OTC or over-the-counter hearing aid” on the primary display, it is not an FDA-regulated hearing aid. Tip 3: Know the difference between over-the-counter and prescriptionOver-the-counter hearing aids will be a great option for thousands of people in the mild-to-moderate stage of their hearing journey, but for some with more severe hearing loss, prescription hearing aids are still the only option.

☆ Thanks to a new rule, you can now save thousands buying over-the-counter hearing aids at stores like Walmart, Best Buy, or CVS
▼ + stars: | 2022-10-17 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +5 min

The FDA estimates that the OTC hearing aids can lower the average cost of a pair of hearing aids by $3,000. Not all private healthcare plans pay for exams for hearing aids, according to the American Speech-Language-Hearing Association, and Medicare doesn't cover hearing aids or hearing-aid fittings. Creed said it's important that people know OTC hearing aids are not replacing prescription hearing aids, and they don't minimize the importance of working with an audiologist or medical professional to get hearing aids. WalmartBest Buy will have around 20 different kinds of hearing aids online this week, and will sell hearing aids in around 300 stores by the end of October. If the company were to eventually sell AirPods as hearing aids, they would likely be less expensive than a pair of traditional hearing aids and break stigmas around wearing hearing aids, Dr. Nicholas Reed, an audiologist at Johns Hopkins told the WSJ last year.

☆ Walmart is now selling over-the-counter hearing aids after FDA rule change
▼ + stars: | 2022-10-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

The move comes shortly after the US Food and Drug Administration announced a long-awaited rule change in August pertaining to hearing aids. The retailer said shoppers can now buy the OTC hearing aids on Walmart.com and in Walmart Vision Centers in Colorado, Michigan, Missouri, Ohio, Pennsylvania, Tennessee and Texas. Lexie self-fitting hearing aids powered by Bose (priced at $849). About a quarter of people 65 to 74 have hearing loss, and that goes up to 50% around age 75. The FDA said its rule change would make hearing aids much more widely available and much cheaper across the country.

☆ Amazon Prime Early Access Sale: 20+ deals under $25
▼ + stars: | 2022-10-11 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +8 min

For the first time in Prime Day’s history, Amazon is hosting two Prime Day-like events in the same year. SKIP AHEAD Prime Day sales under $25 on Amazon | Prime Day sales at other retailersWhether you’re upgrading your skin care routine or looking for new tech accessories, Amazon is offering notable discounts on thousands of items during the Prime Early Access Sale, many of which are affordably priced at under $25. Prime Early Access Sale: The best deals under $25Below, we’re sharing the best deals under $25 from the Prime Early Access Sale based on our previous coverage and reporting. Prime Early Access Sale: The best sales under $25 on AmazonHere are the best October Prime Day sales under $25 on Amazon right now that we think you’ll want to know about. Prime Early Access Sale: The best sales at other retailersIn addition to Amazon, the following retailers are offering Prime Day sales we recommend.

☆ Bitcoin holds steady at $19,000 amid growing signs of institutional adoption
▼ + stars: | 2022-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin on Tuesday floated at the $19,000 level, where it has remained for about a month with some momentary breaks. The largest cryptocurrency by market cap, whose volatility has been uncharacteristically low in recent weeks, was last lower by 0.7% at $19,074.31, according to Coin Metrics. Crypto prices remain depressed, with bitcoin off its all-time high from nearly a year ago by more than 70%. Though recent bitcoin volatility is low compared with stocks, the correlation between the two is still high. Prices held steady even after two big announcements signaling that institutional acceptance and adoption of crypto continues to build in spite of the bear market.

☆ $100 million N.J. deli scheme leads to federal charges against a father and his son
▼ + stars: | 2022-09-26 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Health Care For Cnbc.Com. | Mangan Has Been A Journalist For More Than Years | ) www.nbcnews.com time to read: +4 min

Your Hometown Deli, the business at the center of the probe, was located in Paulsboro, New Jersey, over the Delaware River from Philadelphia. The parent company, Hometown International, had merged with a bioplastics company. The $100 million New Jersey deli, as Your Hometown Deli came to be known, was first brought to the public’s attention by investor David Einhorn in a letter to clients. The securities fraud and securities price manipulation counts carry maximum penalties of 20 years in prison and a $5 million fine. The conspiracy to commit securities fraud and conspiracy to manipulate securities prices counts each carry a maximum penalty of five years in prison.

Your Hometown Deli, the business at the center of the probe, was located in Paulsboro, New Jersey, over the Delaware River from Philadelphia. The parent company, Hometown International, had merged with a bioplastics company. The $100 million New Jersey deli, as Your Hometown Deli came to be known, was first brought to the public's attention by investor David Einhorn in a letter to clients. The securities fraud and securities price manipulation counts carry maximum penalties of 20 years in prison and a $5 million fine. The conspiracy to commit securities fraud and conspiracy to manipulate securities prices counts each carry a maximum penalty of five years in prison.

☆ Stocks making the biggest moves midday: Lennar, Coinbase, Array Technologies and more
▼ + stars: | 2022-09-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday Monday:D.R. Horton, Lennar, PulteGroup — Homebuilder stocks moved higher on Monday after KeyBanc double upgraded the sector to overweight from underweight. Array Technologies — The solar stock jumped over 3% after Piper Sandler upgraded Array Technologies to overweight from neutral, saying the company has more upside ahead on an improved forward outlook. AutoZone — AutoZone shares fell more than 2% as traders pored over a mixed quarterly earnings report. Wix — Shares of Wix soared 11% after activist investor Starboard Value revealed a 9% stake in the web development platform company.

Signage is seen at the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. read moreTsingshan has approached at least two LME brokers to become a client or increase credit lines after JPMorgan's actions, two sources with knowledge of the matter said. JPMorgan declined to comment and Tsingshan was not immediately available for comment via phone or email. In March, JPMorgan had the largest exposure of about 10 banks and brokers to large short positions, or bets on prices falling, held by Tsingshan. “And now those clients that have been reliant are finding that the cost of credit and access to liquidity is difficult post the war,” he said.

Search resuls for: "OTC"

25 mentions found