DIRS.INFO The most relevant business & tech news

☆ Gauff outshines Raducanu to win battle of the prodigies
▼ + stars: | 2023-01-18 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +3 min

"I just told myself to hang in there," Gauff said in her on-court interview. "Emma was playing really good tennis towards the end of the match and the whole match was great. "In the beginning we both started off rocky but I think the match was good quality for the most part. "This was a long anticipated match since the draw came out so I'm glad the match was good for you guys." Gauff next takes on the winner of the match between fellow American Bernarda Pera and China's Zheng Qinwen, hoping to win and match her best run at Melbourne Park three years ago.

☆ Tough road ahead for U.S. fintech lenders as default risk rises
▼ + stars: | 2023-01-13 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

During the pandemic, many fintech startups emerged as lenders to borrowers with imperfect credit. Using artificial intelligence, their screening tools were more likely to recommend these loan requests than traditional lenders'. The lenders' ABS were among bonds that raised $36 billion in 2021 and 2022 by pooling consumer and marketplace loans, according to FinSight data. The losses on subprime loans that are assumed to be uncollectible debt or charge-offs rose on average by some 20% by the third quarter of 2022 from 2019 levels, said Moody's. But the lenders' securities have not lost investor appeal as yet, said Theresa O’Neill, ABS strategist at BofA Securities.

☆ Russian car sales down 58.8% in 2022 as sanctions hit industry hard
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Jan 12 (Reuters) - Car sales in Russia collapsed by 58.8% in 2022, the Association of European Businesses (AEB) said on Thursday, as the industry reels from the impact of Western sanctions on Moscow. Retail sales slumped across the Russian economy in 2022 amid a recession, price instability and heightened uncertainty. Total car sales for the year came in at 687,370, compared to more than 1.6 million in 2021, the AEB said. The industry body forecast that sales would climb by 12% in 2023 to around 770,000 vehicles. Kalitsev said he expected 5-7 new car brands could appear on the Russian market this year, without providing details.

☆ Australia retail sales jump in November, inflation resumes climb
▼ + stars: | 2023-01-11 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales jumped 1.4% in November from October to a record A$35.9 billion ($24.7 billion). "High jet fuel prices combined with strong consumer demand in November pushed airfare prices up, with accommodation prices also rising," said Michelle Marquardt, ABS Head of Prices Statistics. The combination of robust consumption and still rising inflation underline the challenge facing the Reserve Bank of Australia (RBA) as it tries to cool the economy. "That underlines that interest-rate sensitive spending categories are feeling the pinch from the RBA's aggressive tightening last year," said Thieliant. ($1 = 1.4512 Australian dollars)Reporting by Wayne Cole; Editing by Muralikumar Anantharaman and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Dec 20 (Reuters) - Private U.S. oil and gas companies are increasingly turning to a niche financing structure that securitizes their production, providing a funding avenue for producers and owners as traditional sources become more expensive or simply dry up. With banks pressured by stakeholders to restrict loans to the oil and gas sector over its environmental impact, private energy producers - more reliant on bank lines than listed peers - are able to maintain access to outside finance through this niche product. While the first rated PDP securitization was completed in September 2019 by Raisa Energy, volatile commodity prices and a wave of producer bankruptcies in 2020 stymied its initial application. The investment bank helped arrange, among others, a $750 million ABS sold by Jonah Energy in October - currently the largest PDP securitization completed. GROWING APPEALAs well as financing day-to-day operations, private equity firms that own energy producers are exploring using PDP securitizations as an investor pay-day.

☆ Trump teases 'major announcement' that ended up being 'Donald Trump Digital Trading Card' NFTs
▼ + stars: | 2022-12-15 | by ( Madison Hall | Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Former President Donald Trump teased a major announcement on Wednesday on Truth Social. On Thursday, he revealed it to be the sale of NFT digital trading cards with his image emblazoned on each one. The NFTs aren't owned, managed, or controlled by Trump or the Trump Organization. And on Thursday, the former president made the big reveal: a series of digital trading card NFTs, each selling for $99. "This is Donald Trump, hopefully, your favorite president of all time.

☆ Hydrow's compact, affordable rowing machine is perfect for holiday gifting
▼ + stars: | 2022-12-14 | by ( Maria Cassano | ) edition.cnn.com time to read: +4 min

Designed by rowing experts, made for everyoneA Hydrow rowing machine has two main components. Then there’s the crystal-clear display, which immerses you in scenes of actual waterways from around the world and brings you rowing workouts led by world-class athletes and Olympians. This holiday season, there are plenty of sales and freebies to get either rowing machine in a loved one’s home (or your own) for less. Until Dec. 23, each Hydrow Wave comes with free Jaybird headphones, a free Polar heart rate monitor and free standard delivery (a $240 value). Check out the two Hydrow rowing machines below.

☆ How Cho Gue-sung became the breakout thirst trap of the World Cup
▼ + stars: | 2022-12-07 | by ( Soo Youn | ) www.nbcnews.com time to read: +6 min

Cho, 24, was a local celebrity as a player for Jeonbuk Hyundai Motors FC before the World Cup, when he had 20,000 Instagram followers. Cho first generated buzz in his World Cup debut during Korea’s match against Uruguay, which ended in a scoreless tie. South Korea's Cho Gue-sung, center, during the FIFA World Cup match against Ghana in Al Rayyan, Qatar, on Nov. 28. One can point to 2002’s World Cup heartthrob, Ahn Jung Hwan, whose beauty was only celebrated locally in South Korea. “He’s hot, he knows it, and he scored two goals for Korea in the World Cup.

☆ Australia records first current account deficit in three years
▼ + stars: | 2022-12-06 | by ( Wayne Cole | Sam Tobin | ) www.reuters.com time to read: +3 min

Data from the Australian Bureau of Statistics on Tuesday showed the current account had slid to a deficit of A$2.3 billion ($1.54 billion) in the July-September quarter. That was down from a surplus of A$14.7 billion in the previous quarter and far from forecasts for a A$6.2 billion surplus. "The deficit reflected a narrowing but robust trade surplus, which was offset by a record high income deficit in the September quarter," said Grace Kim, acting head of international statistics at the ABS. However, net exports still subtracted only 0.2 percentage points from growth in gross domestic product (GDP) in the third quarter, whereas analysts had looked for a drag of 0.6 percentage points. On the other hand, separate data out on Tuesday showed government spending had subtracted 0.2 percentage points from growth in the quarter.

☆ U.S. agency opens safety probes into Honda, Jeep, Ram vehicles
▼ + stars: | 2022-12-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File PhotoWASHINGTON, Dec 6 (Reuters) - The U.S. National Highway Traffic Safety Administration (NHTSA) is opening new safety probes into 1.72 million Honda vehicles, 230,000 Jeeps and 390,077 Ram trucks. The largest probe covers reports alleging a loss of power for more than 1.7 million U.S. 2018-2022 model year Honda CR-V and HR-V vehicles. NHTSA is also investigating 390,000 2017-2018 model year Ram 2500-3500 pickup trucks after received 134 reports alleging an intermittent or permanent loss of braking performance. A U.S. spokesman for Stellantis NV (STLA.MI), the parent company of Jeep and Ram, said it was fully cooperating in the investigations. There are no crashes or injuries reported in relation to any of vehicles in the three new investigations to date.

☆ Australia monthly inflation slows in October, hints at possible peak
▼ + stars: | 2022-11-30 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) had risen 6.9% in the year to October, slowing from 7.3% in September. That was shock to analysts, who had looked for a rise to 7.4% or higher in October, and was a possible hint that inflation might be peaking. The RBA has expected consumer price inflation would peak at about 8% this quarter, but now that might be too pessimistic. We wouldn't read too much into the drop in the Monthly CPI Indicator in October because the figures don't cover the entire CPI basket," said Marcel Thieliant, a senior economist at Capital Economics. "Nonetheless, the figures do suggest that inflation is about to peak."

It sold its plant, now renamed the Moscow Automobile Factory Moskvich, for another rouble. [1/6] A view shows a car under the Soviet-era brand Moskvich during a ceremony marking the launch of the production at the Moscow Automobile Factory Moskvich in Moscow, Russia, November 23, 2022. The government's ultimate target of producing 100,000 Moskvich vehicles a year, some of which will be electric, is far below the industry average for a car plant of 200,000-300,000. "The first Moskvich cars will come off the production line in December 2022," Kamaz (KMAZ.MM) said in a statement. The car goes on sale in Russia next month, it added, although the price has yet to be disclosed.

☆ Tosca Musk, Elon’s sister, has a business venture of her own – and it’s all about romance and female sexuality
▼ + stars: | 2022-11-20 | by ( Faith Karimi Cnn Photographs Austin Steele | Faith Karimi | ) edition.cnn.com time to read: +15 min

It’s their first public film premiere since the pandemic started. Musk, 48, is the force behind Passionflix, which adapts romance novels into movies and streams them to a devoted niche audience. “Passionflix focuses on adapting romance novels exactly as the fan and the author envision it,” Musk says in a separate CNN interview. From left to right: Tosca Musk, Kimbal Musk, mother Maye Musk and Elon Musk at Maye's 50th birthday party in 1998. One of the founding members, she says she spent the pandemic years curled up on her couch, watching Passionflix movies.

☆ Australia wages jump 1.0% in Q3, biggest gain in a decade
▼ + stars: | 2022-11-16 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Currently, it expects wage growth to plateaux around 3.9% late next year and into 2024. Another, even larger, rise for aged care workers is set to lift wages in the first quarter of next year. The private sector led the way in the September quarter with a rise of 1.2%, double that of the public sector. That lifted annual growth in private firms to 3.4%, while public jobs lagged at just 2.4% amid government controls on pay. The average size of wage increase for those jobs where wages moved was 4.3%, up from 2.9% a year before.

☆ After another chaotic week on Twitter, some users are nostalgic for the pre-Elon Musk days
▼ + stars: | 2022-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kahlan-Rosenblatt.Jpg | Kalhan Rosenblatt | ) www.nbcnews.com time to read: +4 min

Twitter is not dead — but some of its users are already mourning what the platform was, before Elon Musk's takeover. As the site descends further into chaos, users are getting nostalgic and sharing their favorite memories of "old school Twitter." On Thursday, she asked her followers to share a “happy Twitter memory,” and said the responses affirmed her appreciation for pre-chaos Twitter. “Somebody said, ‘I used to think that queer people were sinning ... and now I don’t because of Twitter,’” Crozier said. There were users who pointed out that Twitter, pre-Musk, had been referred to as a “hellsite“ where users “doomscrolled“ for hours.

☆ Zac Efron is all flying muscle in first look at upcoming wrestling drama 'Iron Claw'
▼ + stars: | 2022-11-07 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

The image shows him near-horizontal in midair, muscles rippling and hair flying as he delivers the barefooted kick to his unsuspecting rival. Efron will be playing wrestling legend Kevin Von Erich in the film. Family patriarch Fritz Von Erich became a top performer in the industry, trademarking a distinctive finishing move known as “The Iron Claw,” before five of his six sons followed in their father’s footsteps to become wrestlers. Efron will portray Kevin, the last surviving brother, opposite costars Lily James (“Pam & Tommy”) and “The Affair” star Maura Tierney, who will play his mother Doris. “The Iron Claw,” which does not yet have an official release date, comes from writer-director Sean Durkin, whose credits include the 2011 Elizabeth Olsen-starring “Martha Marcy May Marlene.”

☆ Hertz CFO Sees Limited Impact From Rising Interest Rates on Company Finances
▼ + stars: | 2022-11-04 | by ( Nina Trentmann | ) www.wsj.com time to read: +6 min

Kenny Cheung, CFO of Hertz Photo: Hertz Global Holdings Inc.WSJ: How far is Hertz impacted by rising interest rates? If underlying interest rates move by 1%, it will impact our profit and loss [statement] by about $30 million net at current debt levels. On the variable portion of the ABS, we have an interest rate cap in place to manage our exposure to fluctuations in interest rates. WSJ: Does the rapid rise in interest rates lead to you managing working capital more efficiently? The Federal Reserve raised interest rates by another 0.75 percentage point to combat inflation, Chairman Jerome Powell said on Wednesday.

Hyundai has issued a new recall for approximately 44,000 model year 2018 Hyundai Santa Fe Sport vehicles due to a risk of fire. In a release on the National Highway Traffic Safety Administration's website, Hyundai urged owners of the vehicles to park outside and away from homes and other structures until the vehicles have been repaired. The latest recall is in addition to the approximately 357,000 2016-2018 Hyundai Santa Fe vehicles recalled earlier this year for the same safety defect. To date, there have been four fires in the U.S. associated with the defect, the automaker said. Owners can take their vehicles to a Hyundai dealer for a repair free of charge, the company said.

☆ JPMorgan upgrades Carvana, says investors have a better handle on risks
▼ + stars: | 2022-11-01 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Carvana and its investors seem to be getting a hold of the company's troubles, according to JPMorgan. Analyst Rajat Gupta upgraded shares of Carvana to neutral from underweight, saying that investors have a better handle on the risks around the used car seller after its decline this year, and that the company can better manage its liquidity. The analyst maintained his December 2022 price target of $20, which is roughly 48% upside from Monday's closing price of $13.53. Carvana shares down more than 90% this year, and Gupta expects that the retailer is "not out of the woods" yet as it deals with rising interest rates and a poor macro backdrop for used car sales. Still, Carvana will not deal with the same level of write-down risk like some of its peers such as CarMax, he said in the note.

☆ Australia retail sales up again in Sept as spending stays resilient
▼ + stars: | 2022-10-31 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 31 (Reuters) - Australian retail sales posted another solid increase in September thanks to spending on food, clothing and eating out with consumption staying surprisingly resilient in the face of surging inflation and higher interest rates. Data from the Australian Bureau of Statistics (ABS) on Monday showed retail sales rose 0.6% in September from August to a record A$35.1 billion ($22.48 billion). Markets are wagering on a quarter-point hike to 2.85%, with a one-in-five chance of a return to 50 basis point moves given inflation surprised on the high side in the third quarter. He noted the hefty 250 basis points if tightening already delivered would have had little effect on inflation in the third quarter, or even this quarter, given inflation is a lagging indicator. ($1 = 1.5615 Australian dollars)Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ How much 2 basketball TikTokers earned from NIL endorsements during a year at a D2 HBCU
▼ + stars: | 2022-10-31 | by ( Colin Salao | ) www.businessinsider.com time to read: +6 min

Brandon and Jayden Beloti are brothers who played basketball for Elizabeth City State University. Each had a few hundred thousand followers on TikTok when new NIL rules kicked in on July 1, 2021. The Beloti brothers played basketball during the 2021-22 season for Elizabeth City State University, a HBCU in Division II of the NCAA. The brothers' TikTok followings helped them easily secure NIL dealsBoth brothers began to balance being creators with their school and basketball lives. The Beloti brothers are now focused on building careers as creators with Zone 6(left to right) Jayden and Brandon Beloti representing Zone 6.

☆ What Cramer is watching Tuesday — UPS and Halliburton beat, Meta catches price cuts
▼ + stars: | 2022-10-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

What I am looking at Oct. 25, 2022 Delivery service UPS beats — Q3 adjusted EPS of $2.99 versus consensus $2.85 — but only reaffirms guidance. Club holding Meta Platforms (META) gets two more price cuts: KeyBanc lowers to $175 from $196, Jefferies cuts to $200 from $225. (Jim Cramer's Charitable Trust is long HAL, META, STZ. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A United Parcel Service (UPS) truck delivers boxes in Manhattan on April 26, 2022 in New York City.

☆ Data Centers Face Higher Costs, Weaker Demand for Debt That Fueled Sector’s Rise
▼ + stars: | 2022-10-20 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

The decline in issuance of data-center debt comes as chief financial officers across industries evaluate their funding options amid the Fed’s rate-hike campaign. Within the data-center sector in particular, that calculus for some companies involves assessing whether the timing is right to tap the securitization market despite the higher costs. What’s more, while the data-center sector is much bigger now than it was during the 2007-09 recession, it hasn’t been tested. The securitization market has historically provided Vantage with more money than it has needed to pay down its loans, Mr. Metwalli said. Digital Realty Trust Inc., a publicly traded company in the sector with an investment-grade rating, has avoided the securitization market.

☆ Gold rush: Lawyers are flocking to Arizona to take advantage of new rules resulting in a flood of outside investments in law firms
▼ + stars: | 2022-10-19 | by ( Jack Newsham | ) www.businessinsider.com time to read: +10 min

In 2021, Arizona changed its rules to let non-lawyers co-own law firms, many of which are highly profitable: They collectively made an estimated $320 billion in the US last year. Today, 47 states — all but Arizona, Utah, and Washington — ban anyone but lawyers from owning law firms. Some of the firms Arizona has approved have said they plan to advertise nationwide, and refer cases to other law firms that will actually do the work. Pre-settlement funding, which is one of the riskier kinds of loan for plaintiffs' law firms, often has interest rates of 12 to 20 percent, Ziser said. The UK has allowed outside investment in law firms since 2007 without major scandal, he said, but it also takes a loser-pays approach to lawsuits that can cut down on frivolous claims.

☆ What Cramer is watching Monday — BofA nice beat and my informal poll says people hate the market
▼ + stars: | 2022-10-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

WFC price target hikes at BMO Capital and Piper Sandler. Citi lowers price target on American Airlines (AAL) to $15 per share from $16. Mizuho cuts price target on Dow Inc. (DOW) to $46 per share from $62, pricing is falling apart. RBC Capital cut price target on Datadog (DDOG) to $105 per share from $125, getting more conservative. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Search resuls for: "Abs"

25 mentions found