DIRS.INFO The most relevant business & tech news

☆ Carbon-Credit Raters Aim to Assess a Notoriously Opaque Market
▼ + stars: | 2023-02-07 | by ( Shane Shifflett | Dieter Holger | ) www.wsj.com time to read: +7 min

Carbon-credit-rating firms aim to give buyers confidence in assessing the unregulated market for carbon offsets, voluntary credits that can help companies fulfill their decarbonization promises. Traders, online marketplaces and corporate sustainability departments are typical customers for carbon-credit ratings, but companies increasingly encounter the scores through intermediaries selling the offsets. Sylvera Ltd., one of the carbon-credit raters, said that less than a third of projects aimed at preventing deforestation are high quality. The market for voluntary carbon credits topped $2 billion in 2022, according to publisher and researcher Ecosystem Marketplace. BeZero has fully rated around 280 projects, Calyx around 260, Sylvera around 115 and Renoster has fully reviewed nine.

☆ Military Chip Maker Mercury Systems Up For Sale
▼ + stars: | 2023-02-01 | by ( Doug Cameron | ) www.wsj.com time to read: 1 min

One of the Pentagon’s top manufacturers of microchips is up for sale, just as the defense industry faces a shortage of crucial semiconductors that executives said could stretch for another two years. Mercury Systems Inc. said its board has launched a strategic review, a move widely viewed by analysts as a precursor to a possible sale after activist investors pushed for change at the Andover, Mass.,-based company.

☆ The US's powerful Abrams tanks are heading to Ukraine, but generals disagree over how hard it'll be to use them on the battlefield
▼ + stars: | 2023-02-01 | by ( Sebastien Roblin | ) www.businessinsider.com time to read: +19 min

The US has pledged to send Abrams tanks to Ukraine, joining a bevy of Western-made tanks. Here comes the M1 Abrams for UkraineA M1A2 Abrams tank fires at a target during an exercise. The same day, word spread that US President Joe Biden would announce he was sending 31 M1 Abrams tanks to Ukraine. But Hertling disagreed that withholding the M1 Abrams was a "political decision" and didn't find the examples of non-US Abrams operators persuasive. M1 Abrams: training and sustainmentAn M1A2 Abrams drives into the woods during an exercise in Hohenfels, Germany.

☆ Defense tech firm Mercury Systems announces CFO exit, strategic review
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - Mercury Systems Inc (MRCY.O) on Tuesday announced the exit of finance chief Michael Ruppert and said the defense technology firm had initiated a review of strategic alternatives. Separately, activist investor Jana Partners had said that it would push Mercury to consider options for its business, including a potential sale. "There can be no assurance that any transaction will be approved or consummated," Mercury Systems, which develops and manufactures computer hardware and software products for the aerospace and defense industry, said in a statement on Tuesday. Mercury Systems had a market capitalization of $2.84 billion as of Tuesday's close. The company also reported second-quarter revenue of $229.6 million, compared with $220.4 million a year ago.

☆ CDC urges people with weak immune systems to take extra precautions after Covid subvariants knock out Evusheld
▼ + stars: | 2023-01-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Centers for Disease Control and Prevention on Friday urged people with weak immune systems to take extra precautions to avoid Covid after the dominant omicron subvariants knocked out a key antibody treatment. The guidance comes after the Food and Drug Administration on Thursday pulled its authorization of Evusheld, a combination antibody injection that people with weak immune systems took as an additional layer of protection to prevent Covid infection. The FDA pulled Evusheld because it is not effective against 95% of the omicron subvariants circulating in the U.S. People with weak immune systems include cancer patients who are on chemotherapy, organ transplant patients who are taking medication for their transplant, people with advanced HIV infection, and those born with immune deficiencies. Some 7 million adults in the U.S. have a condition, like cancer, that compromises their immune system, according to the CDC.

☆ Testing group says Tesla Autopilot slips in driver assistance ratings
▼ + stars: | 2023-01-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 25 (Reuters) - Tesla's (TSLA.O) advanced driver assistance system Autopilot fell in a ranking of 12 major systems, Consumer Reports said Wednesday. Tesla, which was second in Consumer Reports ratings in 2020 behind Super Cruise, fell to seventh, the group said. "After all this time, Autopilot still doesn’t allow collaborative steering and doesn’t have an effective driver monitoring system," said Consumer Reports Auto Testing director Jake Fisher in a statement. The National Highway Traffic Safety Administration (NHTSA) is investigating 830,000 Tesla vehicles with Autopilot after a series of crashes with parked emergency vehicles. NHTSA is reviewing whether Tesla vehicles adequately ensure drivers are paying attention.

☆ Explainer: Who is behind Hindenburg, the company that is shorting Adani?
▼ + stars: | 2023-01-25 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 25 (Reuters) - Short-seller Hindenburg Research disclosed on Wednesday short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. WHAT IS HINDENBURG RESEARCHFounded in 2017 by Nathan Anderson, Hindenburg Research is a forensic financial research firm which analyses equity, credit and derivatives. On its website, Hindenburg says it looks for "man-made disasters," such as accounting irregularities, mismanagement and undisclosed related-party transactions. After finding potential wrongdoings, Hindenburg usually publishes a report explaining the case and bets against the target company, hoping to make a profit. HOW MANY COMPANIES HAS HINDENBURG TARGETEDHindenburg has flagged potential wrongdoing in at least 16 companies since 2017, according to its website.

☆ Getty Images suing the makers of popular AI art tool for allegedly stealing photos
▼ + stars: | 2023-01-17 | by ( Jennifer Korn | ) edition.cnn.com time to read: +3 min

New York CNN —Getty Images announced a lawsuit against Stability AI, the company behind popular AI art tool Stable Diffusion, alleging the tech company committed copyright infringement. London-based Stability AI announced it had raised $101 million in funding for open-source AI tech in October and released version 2.1 of its Stable Diffusion tool in December. “Getty Images believes artificial intelligence has the potential to stimulate creative endeavors. AI art and traditional media suppliers have struggled to coexist in recent months as computer-generated images grow more available and advanced, using human-created images and art as data training. Once available only to a select group of tech insiders, text-to-image AI systems are becoming increasingly popular and powerful.

REUTERS/Nir EliasSINGAPORE, Jan 15 (Reuters) - Israel's Cognyte Software Ltd (CGNT.O) won a tender to sell intercept spyware to a Myanmar state-backed telecommunications firm a month before the Asian nation's February 2021 military coup, according to documents reviewed by Reuters. Intercept spyware can give authorities the power to listen in on calls, view text messages and web traffic including emails, and track the locations of users without the assistance of telecom and internet firms. MPT uses intercept spyware, a source with direct knowledge of the matter and three people briefed on the issue told Reuters although they did not identify the vendor. Reuters was unable to determine whether the sale of Cognyte intercept technology to MPT was finalised. While intercept spyware is typically described as "dual-use" technology for civilian and defence purposes, Israeli law states that "dual-use" technology is classified as defence equipment.

☆ Alcoa Appoints New CFO Amid Executive Reshuffle
▼ + stars: | 2023-01-11 | by ( Jennifer Williams-Alvarez | Colin Kellaher | ) www.wsj.com time to read: +4 min

Alcoa Corp. named a new finance chief amid a wider executive reshuffle as the aluminum producer faces soaring energy costs and volatile prices. Ms. Beerman succeeds current CFO William Oplinger, who will become chief operations officer next month after about six years in the top finance role. In addition, two executive vice presidents—Chief Operations Officer John Slaven and Chief Innovation Officer Benjamin Kahrs —are leaving as part of the restructuring, Alcoa said. It will “ensure continued improvement and focus on Alcoa’s strategies to operate as a low-cost, margin-focused, sustainable producer,” Chief Executive Roy Harvey said in a statement. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.

☆ Factbox: Tech firms, Wall Street lead job cuts in corporate America
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +6 min

Jan 11 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. Job seekers wait before a job fair for airport related employment at Logan International Airport in Boston, Massachusetts, U.S., December 7, 2021. Blue Apron Holdings Inc (APRN.N):The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. Last year, company executives had said the home goods retailer was cutting about 20% of its corporate and supply chain workforce.

☆ Factbox: FACTBOX Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +5 min

Jan 10 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Cisco Systems Inc (CSCO.O):The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. Consumer and retail companies:Beyond Meat Inc (BYND.O):The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million.

☆ Lightning eMotors flags sales loss due to supply issues from Nikola unit
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

Jan 10 (Reuters) - Zero emission vehicle manufacturer Lightning eMotors Inc (ZEV.N) said on Tuesday it "lost significant" sales volume in the fourth quarter, citing battery supply issues from a Nikola Corp (NKLA.O) subsidiary. "Romeo Power Systems Inc unexpectedly notified Lightning that it would not honor its commitments to supply battery packs, or to provide further service or support, under its long-term supply agreement with Lightning," the company said. Romeo Power Systems did not immediately respond to a Reuters request for a comment. Reporting by Aishwarya Nair in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ CFOs Ponder Their Pricing Power as the Economy Cools
▼ + stars: | 2023-01-09 | by ( Jennifer Williams-Alvarez | Dean Seal | ) www.wsj.com time to read: +7 min

After a year of significant price increases, companies are trying to figure out how far they can go in 2023. However, pricing experts said, consumers and businesses will likely pull back on discretionary spending and will be less tolerant of price increases as they become mindful of their budgets. The Katy, Texas-based retailer takes an item-by-item approach to price increases. Customers haven’t balked at higher price tags, Ms. Huber said in late October. Still, the company said the aggressive price hikes in 2022 haven’t yet had a significant impact on consumers’ behavior.

☆ M&A Is Expected to Pick Up in 2023 as Companies Adapt to Tougher Conditions
▼ + stars: | 2023-01-06 | by ( Kristin Broughton | ) www.wsj.com time to read: +8 min

But many companies adapted, structuring deals to sidestep market volatility and minimize financing costs. Deal advisers expect M&A to pick up in 2023 following last year’s slump, though when that will happen remains an open question. That is especially true in the technology and healthcare sectors, where deals for high-growth companies are most common, she said. In addition to macroeconomic pressures, companies faced a tougher regulatory environment in 2022, with antitrust enforcers globally applying greater scrutiny to large transactions. Demand for such facilities in the U.S. jumped 17% in 2022 through Dec. 29 compared with the full-year 2021, to $317.3 billion, according to Dealogic.

☆ Factbox: Tech firms leading job cuts in Corporate America
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +9 min

Jan 9 (Reuters) - Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Microsoft Corp (MSFT.O):The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.

☆ Western-Supplied Air Defense Helps Ukraine Repel Russian Drone Attacks
▼ + stars: | 2023-01-03 | by ( Ian Lovett | ) www.wsj.com time to read: 1 min

Ukraine is improving its ability to intercept the Iranian-made Shahed drones that Russia has relied on to damage Ukrainian infrastructure, with Western-suppied air-defense systems increasingly helping Kyiv repel the attacks. In the first days of the year, Russia has relied on Iranian-made Shahed drones to destroy and degrade Ukrainian energy and other infrastructure. All 39 drones that Russians launched into the country Sunday night and Monday were shot down, according to the Ukrainian air force. Kyiv, the target of most of the drones, had no scheduled blackouts on Tuesday morning, after its electric grid avoided additional damage.

☆ CIOs Nominate Their Favorite Reads of 2022
▼ + stars: | 2022-12-28 | by ( Tom Loftus | ) www.wsj.com time to read: +9 min

Chief information officers, ever alert to any development in a field that only hurtles forward, largely reflected that alacrity in their choice of reading during 2022. PREVIEWChris Bedi, chief digital information officer, ServiceNow Inc. Photo: IBM Corp.Ron Guerrier, chief information officer, HP Inc. Photo: Cisco Systems Inc.Fletcher Previn, chief information officer, Cisco Systems Inc. Photo: Home Depot Inc.Fahim Siddiqui, chief information officer, Home Depot Inc.

☆ CIO 2023 Priorities: Always Be Modernizing
▼ + stars: | 2022-12-28 | by ( Belle Lin | ) www.wsj.com time to read: +2 min

Technology executives in a recent CIO Journal end-of-year survey shared their priorities for 2023. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. “And this year we are doubling down to maximize the potential of our [over] 500 petabytes of data.”Ramon Richards, CIO, Fannie Mae Photo: Cade Martin PhotographyAt mortgage finance giant Fannie Mae, CIO Ramon Richards said one of his 2023 technology priorities includes continued cloud adoption. “We’ve built a strong foundation and are reaching maturity on many aspects of our digital transformation, which allows us to allocate more capacity to deliver on Fannie Mae business priorities next year,” Mr. Richards said. David Vidoni, vice president of information technology at Pegasystems Inc., said the top technology priority in 2023 is to continue modernizing its business systems.

☆ U.S. Senate passes record $858 billion defense act, sending bill to Biden
▼ + stars: | 2022-12-16 | by ( Patricia Zengerle | ) www.reuters.com time to read: +3 min

REUTERS/Joshua Roberts/File PhotoWASHINGTON, Dec 15 (Reuters) - The U.S. Senate passed legislation on Thursday authorizing a record $858 billion in annual defense spending, $45 billion more than proposed by President Joe Biden, and rescinding the military's COVID vaccine mandate. Senators supported the National Defense Authorization Act, or NDAA, an annual must-pass bill setting policy for the Pentagon, by an overwhelming 83-11 bipartisan majority. AID FOR TAIWAN, UKRAINE AND JUDGESBecause it is one of the few major bills that always passes, lawmakers use the NDAA as a vehicle for a range of initiatives. A bid to amend the bill to award back pay and reinstate troops who refused the vaccine failed. A bill to fund the government through Sept. 30, 2023, - the end of the fiscal year - is expected to pass Congress next week.

☆ Fed Rate Increases Upended Funding Markets in 2022. Here’s What CFOs Can Expect in 2023.
▼ + stars: | 2022-12-14 | by ( Nina Trentmann | ) www.wsj.com time to read: +9 min

Here’s a look at how different financing instruments fared in 2022 and what’s ahead for 2023. Activity in the convertible debt market has picked up in recent weeks. Still, there could be financing opportunities for deals in 2023 in the form of syndicated loans, bankers said. “CFOs have to be aware of that and focus on cash conversion and margins,” he said, pointing to the increase in financing costs. “We expect deals will continue to get done,” he said, adding that those could however come with more oversight from lenders.

Banks still have to mark the loan to its market value on their books and set aside funds for losses that are reported in quarterly results. The deliberations of how some of these banks are thinking about accounting for these losses have not been previously reported. Three banking industry sources said the remaining $3 billion, which is unsecured, could lead to steeper losses for the seven Twitter banks. Some market participants expect the losses from the debt to be significant unless market conditions improve. Some $35 billion to $40 billion of such loans are stuck on banks' books, according to two fixed income bankers.

Diablo IV will be released on PC, Xbox, and PlayStation platforms on June 6, 2023. Diablo IV will launch on June 6, 2023 for Windows PCs, PlayStation 5, PS4, Xbox Series X/S, and Xbox One. The developers of Diablo IV have said one of their primary goals was to return to the franchise's roots of darkness and horror. Diablo IV can connect between platforms, so players on PC, PlayStation, and Xbox should have no issues playing together. Diablo 4 first-look impressionsDiablo IV / Activision BlizzardWe got to try the first few hours of Diablo IV during a hands-on media event.

[1/7] U.S. President Joe Biden delivers keynote remarks at a U.S.-Africa Business forum at the 2022 U.S.-Africa Leaders Summit in Washington, U.S., December 14, 2022. "The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington. Beijing has held its own high-level meetings with African leaders every three years for more than two decades. For their part, many African leaders reject the idea that they need to choose between the United States and China. "The fact that both countries have different levels of relations with African countries makes them equally important for Africa's development," Ethiopia's U.N. ambassador, Taye Atske Selassie Amde, told Reuters.

☆ Freight Brokerage RXO Will Focus on Tech Investments, CFO Says
▼ + stars: | 2022-12-13 | by ( Kristin Broughton | ) www.wsj.com time to read: +4 min

RXO, which before the transaction accounted for roughly a third of XPO’s total revenue, matches freight loads with available trucks on the spot and contract markets. A priority for Mr. Harris, who was appointed to the CFO post in September ahead of the spinoff, is investing in digital capabilities for shippers and carriers. Approximately two-thirds of the company’s total capital budget will go toward technology, with the remainder focused on maintenance-related costs, Mr. Harris said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Among the advantages of being an independent company is RXO now has more control over its capital budget, Mr. Harris said.

Search resuls for: "Systems Inc"

25 mentions found