DIRS.INFO The most relevant business & tech news

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

Budgeting coach Clarissa Moore knows firsthand how hard it is for other single moms to manage their finances. You should also adjust your budget on a regular basis and start small with savings. Here are five key pieces of budgeting advice Moore has for other single moms seeking to better manage their finances. Start small with your savingsMoore knows firsthand how many financial hurdles get in the way of single moms building real wealth. 4. Review your budget regularlyOnce you start budgeting and tracking your expenses, Moore says you'll begin to understand your spending patterns more clearly.

A harrowing car accident in 2009 forced single mom Clarissa Moore to overhaul her finances. Moore found short-term side hustlesAfter finding stable ground at her corporate job, Moore had time to pursue side hustles that she was passionate about. In 2019, Moore started Clarissa Explains Money, a money coaching service that helps women create budgets aligned with their goals. Her one-bedroom rental property costs $1,205 per month and she pays $566 monthly for its mortgage for a net profit of $639 a month. Of her passive income stream, Moore says, "This is what I always wanted.

☆ AMC Networks booted its CEO after only 3 months, gave her a $10 million payout, and cut about 20% of its staff. So much for workers being empowered.
▼ + stars: | 2022-11-30 | by ( Rebecca Knight | Marguerite Ward | ) www.businessinsider.com time to read: +6 min

Former AMC CEO Christina Spade got a $10 million payout after only three months on the job. AMC's former CEO getting a massive payout for three months of work is not good for shareholder capitalism or stakeholder capitalism. "But AMC's former CEO getting a massive payout for three months of work is not good for shareholder capitalism or stakeholder capitalism. Ja_inter/Getty ImagesLayoffs vs. the golden parachuteResearch shows that CEO severance packages serve an important purpose in corporate America. And some investor groups have recently proposed votes to curb CEO pay.

Organizations: & $

☆ The global stock market rally could be about to meet recession reality
▼ + stars: | 2022-11-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Specialist traders work inside a post on the floor of the New York Stock Exchange (NYSE) in New York City, November 10, 2022. Brendan Mcdermid | Reuterswatch now"We think those hopes will be dashed again as the Fed pushes ahead with policy overtightening. With the S&P 500 jumping 13% from its October low, stocks are even further from pricing in the recession — and earnings downgrades — we see ahead." While consensus expects earnings growth to fall from 10% at the start of 2022 to just over 4% in 2023, the world's largest investment manager expects zero growth, noting that third-quarter annual earnings growth would already be in negative territory without the huge windfalls seen in the energy sector. watch nowDownbeat viewLast Thursday's Wall Street rally was the 15th-largest single-day gain for the S&P 500 since the mid-1960s, according to Capital Economics.

☆ Didn't win Powerball's $2 billion jackpot? You may be still be one of the 22 people who won $1 million
▼ + stars: | 2022-11-10 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +3 min

But matching five of the numbers still means a $1 million payout — and 22 people across 16 different states may have winning tickets, according to Powerball. The automatic 24% federal tax rate would take a $1 million payout down to $760,000, according to Powerball's tax calculator. There are enough horror stories of lottery winners squandering their earnings to make winning a major prize seem like more trouble than it's worth. A smaller prize takes a bit of the pressure off, but anyone receiving such a large cash payout can make mistakes. Common advice for lottery winners says to take the prize as an annuity to extend its life.

☆ Most Gulf stocks end higher, Abu Dhabi hits record high
▼ + stars: | 2022-11-07 | by ( Ateeq Shariff | Megan Rowling | ) www.reuters.com time to read: +2 min

Brent crude futures recouped most losses after dropping by more than $1/bbl earlier in the session on China lockdowns worries. read moreSaudi Arabia's benchmark index (.TASI) rose 0.7%, extending gains from the previous session, led by a 3% rise in Riyad Bank (1010.SE). Dubai's main share index (.DFMGI) gained 0.9%, with blue-chip developer Emaar Properties (EMAR.DU) rising 2.3%. In ABu Dhabi, the index (.FTFADGI) advanced 1.2% to hit a record high, buoyed by a 2.1% jump in the country's biggest lender, First Abu Dhabi Bank (FAB.AD). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.4%, as most of the stocks on the index were in positive territory.

☆ Saudi bourse gains on rising oil prices; Egypt falls
▼ + stars: | 2022-11-06 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Saudi Arabia's stock market ended higher on Sunday in response to Friday's sharp rise in oil prices, while the Egyptian index slipped into negative territory following a recent rally. The benchmark index (.TASI) in Saudi Arabia gained 0.7%, led by a 1.6% jump in oil giant Saudi Aramco (2222.SE) and a 0.5% increase in Al Rajhi Bank (1120.SE). In Qatar, the index (.QSI) finished 0.8% higher, with Qatar National Bank (QNBK.QA), the Gulf's biggest lender, rising 1.9%. The Qatari bourse recorded an increase with natural gas prices continuing their rebound, Daniel Takieddine, CEO MENA at BDSwiss. read moreQatar, which hosts the 2022 FIFA World Cup this month, is one of the world's largest exporters of natural gas and has benefited from huge windfalls from soaring global oil and gas prices.

☆ Biden puts economic record front and center at New Mexico midterms rally
▼ + stars: | 2022-11-04 | by ( Peter Nicholas | Peter Nicholas Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

As an issue, democracy’s preservation pales in comparison to high prices and the economy. In fiery tones Thursday, Biden touted economic gains made since he succeeded former President Donald Trump — or, as he called him, “my predecessor.”“When I took office, this economy was in ruins,” Biden said. On the brink of an election that will decide control of Congress, Biden on Thursday dispensed with the unifying message that underpinned his inaugural address. If enacted, “you put Social Security and Medicare on the chopping block every five years” Biden said. Unable to squeeze inside, more than 100 people waited outdoors and were greeted by Biden before he gave his speech.

☆ S&P upgrades Qatar's credit rating on shrinking debt burden
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

Nov 4 (Reuters) - Ratings agency S&P on Friday raised Qatar's long-term sovereign credit rating to "AA" from "AA-", citing improvements in the government's fiscal position. "Qatar's debt interest costs as a share of government revenue have fallen, and we expect them to remain low because the government is repaying maturing debt," the agency said in a statement. read moreS&P believes that higher oil prices should result in strong government surpluses in 2022-2023. read moreS&P said Qatar government's revenue stream will substantially increase by the North Field Expansion, which is part of the world's biggest gas field that Qatar shares with Iran. Reporting by Vansh Agarwal in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Biden appeals to young voters in U.S. West as midterms near
▼ + stars: | 2022-11-03 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

[1/2] U.S. President Joe Biden delivers remarks on "student debt relief" during a campaign stop at Central New Mexico Community College (CNM) Student Resource Center in Albuquerque, New Mexico, U.S., November 3, 2022. Biden and other Democratic speakers made no mention of high consumer prices that analysts say are overshadowing abortion and other social issues in the election. Biden heads to California on Thursday evening and Illinois on Friday before traveling to Pennsylvania on Saturday for a rally with former President Barack Obama. He plans to contrast his economic plan with a Republican push to roll back loan forgiveness, the White House said. Opposition parties historically fare better in midterm elections, providing a balance for new presidents in the second half of their terms.

☆ Biden’s oil windfall tax would backfire, warns Larry Summers
▼ + stars: | 2022-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN Business —Economist Larry Summers is pushing back after President Joe Biden floated the possibility of punishing the oil industry for high prices by imposing a windfall profit tax. “I’m not sure [I] understand the argument for a windfall profits tax on energy companies,” Summers said on Twitter Tuesday morning. Oil companies lost billions of dollars — and many went bankrupt — in 2020 when oil prices briefly crashed below zero for the first time ever during the Covid recession. Not surprisingly, the oil industry itself fired back at talk of a windfall profit tax. Raising taxes on the oil industry would discourage investment in new production, the API warned — “the exact opposite of what is needed.”

☆ Pfizer raises 2022 earnings guidance, beats third-quarter expectations
▼ + stars: | 2022-11-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Pfizer on Tuesday raised its 2022 earnings guidance after booking a strong third quarter that beat Wall Street expectations. Pfizer raised its full year sales guidance for its Covid-19 vaccine to $34 billion this year, up $2 billion from the company's previous expectations. The company sold $4.4 billion of its Covid vaccine worldwide in the quarter, a decrease of 66% compared to the third-quarter of 2021. Pfizer's antiviral treatment Paxlovid also had a strong quarter, generating $7.5 billion in sales worldwide though mostly in the U.S. Pfizer booked net income of $8.6 billion for the third quarter, a 6% increase over the same quarter last year.

☆ 'Millionaire tax' plans are on the ballot in California and Massachusetts. Here's what that means for taxpayers
▼ + stars: | 2022-10-29 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Whether voters support higher income taxes or not, revenue plans often affect the results on Election Day, experts say. "And we've seen them embrace income tax changes that would affect many." "Massachusetts has been talking about creating a progressive tax rate for a long time," said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center, noting the current flat income tax is 5% regardless of income. "Part of this is they want that ability to shift some of the overall state's tax burden up the ladder," he said. By contrast, California has a graduated state income tax system, with a top rate of 13.3% for individuals making over $1 million per year.

Most people who have credit card debt throw all their cash and windfalls at the debt. One of the biggest insights I've learned working with Brunch & Budget clients is that the best way to pay down debt is to save. What usually happens when you try to pay off credit card debtGetting into debt can happen in a flash. At some point, you hit your credit card screw-it number and just start charging everything to the card. For instance, if you've been putting $250 per month away in savings, put $125 towards savings and $125 towards the credit card debt.

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Costco, Ford, Meta, McDonald's & more
▼ + stars: | 2022-10-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Amazon as buy Goldman said it's standing by shares of Amazon after its "mixed" earnings report on Thursday. Morgan Stanley reiterates Apple as overweight Morgan Stanley says Apple is still "best of breed" after its earnings report on Thursday. Morgan Stanley reiterates Ford as overweight Morgan Stanley says it likes Ford more as a "restructuring play" than as a way to play the electric vehicle sector. Morgan Stanley reiterates Costco as overweight Morgan Stanley says the stock is defensive and in "rare air." Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said the fast food giant is a must-own "in these times" after its earnings report on Thursday.

The stakes are high as it potentially affects the future use and effectiveness of extraordinary monetary policies such as bond-buying 'quantitative easing' (QE) and questions the wider political independence of central bank policymaking. The European Central Bank, Bank of England and U.S. Federal Reserve are all - to differing degrees - now facing a backwash from years of policy-driven but lucrative balance sheet expansion. As they lift interest rates, that balance sheet burns a hole in their pockets - or more particularly the pockets of their governments long used to windfalls coming the other way. That will surely climb as the BoE is expected to at least double its policy rate, the rate paid on bank reserves, by May. G4 central bank balance sheetsThe easy-money era is overReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Morning Bid: Meta averse, ECB decides and CS slides
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Meta added a deep pothole to an already bumpy U.S. earnings season - another obstacle to a market pumped-up by bets of some central bank relief on the horizon as G7 economies slow. read moreWith Apple (AAPL.O) and Amazon reporting later on Thursday, sentiment toward tech giants remains on edge. But after two-week, trough-to-peak bounce of almost 10%, global stock indices (.MIWD00000PUS) struggled to make much headway for the second session on Thursday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Consumer drain as banks gain
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +5 min

Google's results in particular bode ill for Facebook parent Meta Platforms (META.O), especially reliant on advertising and reporting its results late on Wednesday. Consumer blues contrasted with bumper earnings from banks who are raking in huge windfalls from rising interest rates - direct cash injections from reserves they hold at central banks along with higher net interest margins and trading revenues flattered by volatile markets. read more read more read more read moreEuropean banks reporting this week matched Wall St counterparts on that score, raising conundrums for the European Central Bank meeting this week and Bank of England and U.S. Federal Reserve gatherings next week. They all plan further policy rate rises to rein in inflation - but this also involves direct transfers to their banks and potentially a drain on government finances. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Italy’s new boss is missing a trick on tax evasion
▼ + stars: | 2022-10-24 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

A proper fight against endemic tax evasion would give her much-needed ammunition. Meanwhile, plans to allow Italians to retire earlier would likely cost more than 10 billion euros annually. She could target untaxed domestic revenue, which amounted to 100 billion euros in 2019. A serious effort to tackle tax evasion would materially help her fiscal position. The approach offers upfront windfalls but does not discourage tax evasion in the long term.

☆ Biden tries again to lower gas prices — and slams oil companies for raking in record profits 'while a war is raging'
▼ + stars: | 2022-10-19 | by ( Juliana Kaplan | Ben Winck | ) www.businessinsider.com time to read: +4 min

President Joe Biden will release 15 million more barrels of oil from the country's reserves to lower gas prices. Biden also urged oil companies to invest in more production, and not their own stocks. "Gas prices hit almost every family in this country and they squeeze their family budgets. The president also castigated oil companies for pocketing larger profits instead of tamping down prices for consumers. Replenishing the SPR should provide security for the oil companies sitting on their profit windfalls.

☆ A couple used the empty Florida mansions of top Venezuelan officials to defraud banks of almost $10 million, report says
▼ + stars: | 2022-10-14 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A couple used the empty Florida mansions of top Venezuelan officials to defraud banks. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA couple used the empty Florida mansions of top Venezuelan officials to defraud banks of almost $10 million, The Wall Street Journal reported. The Trump administration had sanctioned or indicted top Venezuelan officials and associates in 2019, which gave Castañed the idea of targeting mansions and penthouses in Miami owned by Venezuela's elite. With the help of fake passports, Castañeda and Martusciello, as well as their accomplices, impersonated four property owners. They then got banks to lend them almost $10 million against the homes and had the money wired to bank accounts they controlled.

And futures now assume the inflation fight will fall solely on the BoE and expect it to triple policy rates to as high as 5.8-6% next year. On Tuesday, the independent Institute for Fiscal Studies said Kwarteng needed 62 billion pounds ($68.22 billion) of spending cuts to keep public debt sustainable over time, with borrowing this year on course for 194 billion pounds and still above 100 billion by 2026/27 - over 70 billion higher than OBR forecasts in March. QE involves the purchase of mostly gilts from commercial banks in return for interest-bearing reserves at the central bank. And, unlike other major central banks, the BoE policy rate itself is the rate paid on those bank reserves. NIESR last year urged a solution to the problem whereby Treasury and central bank reduced the maturity mismatch by swapping longer-dated gilts back to Treasury to cut duration of its portfolios.

☆ Alex Jones' billion-dollar judgement: The conspiracy theorist has turned career-ending setbacks into profit windfalls, but this could be too much to overcome
▼ + stars: | 2022-09-22 | by ( Ashley Collman | Tom Porter | ) www.businessinsider.com time to read: +22 min

Robbie Parker was later falsely called a crisis actor, and the Parkers are among those who sued Alex Jones for defamation. Longtime informal adviser to Donald Trump, Roger Stone (right), and and Alex Jones (left) speak to reporters in December 2018. Picture showing a computer screen displaying the Twitter account of Far-right conspiracy theorist Alex Jones taken on August 15, 2018 in Washington DC. "Alex Jones is likely to continue being Alex Jones, which means he's likely to try all kinds of shenanigans to avoid accountability," said Holt. "The money awarded in damages does not repair what Alex Jones has done to those parents' lives, but it could be a step towards dismantling the toxic empire that Alex Jones has built around his brand."

☆ Petrodollar rush may disappoint Western financiers
▼ + stars: | 2022-09-20 | by ( Liam Proud | ) www.reuters.com time to read: +6 min

Yet Western financiers hoping to share in the spoils of a 1970s-style petrodollar boom will be disappointed. In previous petrodollar booms, energy producers have recycled their windfalls into the Western financial system. These financial flows, known as petrodollar recycling, mean that the money Westerners spend on fuel eventually makes its way back into their economies through energy producers’ financial investments. Either way, it would mean that Westerners miss out on some of the spoils of the new petrodollar boom. A more muted petrodollar boom might not be such a bad thing after all.

Search resuls for: "Windfalls"

25 mentions found