DIRS.INFO The most relevant business & tech news

A younger member of the Tisch family spent nearly $20 million in recent days buying up more shares of Loews Corp ., according to securities filings and VerityData. Benjamin Tisch, the son of Loews CEO James Tisch, bought about $18.8 million worth of stock over three days. Loews — The conglomerate's senior vice president Benjamin Tisch scooped up about $18.8 million worth of stock from May 31 to June 2. It is first buy on record for Benjamin Tisch. StepStone Group — Head of strategy Michael McCabe bought $2.2 million worth of the asset management firm's stock in the first five days of June.

Persons: Tisch, Benjamin Tisch, James Tisch, Michael McCabe, Daryl Bible, Bible, Christopher Rondeau, Jan De Witte, Eric Schwartz Organizations: Loews Corp, Loews, CNA Financial, CNA, Fortress Investment Group, VerityData, StepStone, —, T Bank, Truist, Integra LifeSciences

☆ Father’s Day Gifts 2023: What Dads Like Nate Berkus, David Chang and Kelly Slater Are Giving and Receiving
▼ + stars: | 2023-06-07 | by ( Christopher Ross | ) www.wsj.com time to read: 1 min

Photo: clockwise from top left: Scott Sector Fly Rod, FILSON, BIOLOGIQUE RECHERCHE, NOKIA, FLINT & PORT HAT COMPANY, Todd Demsey GolfBetween dad jokes, dadbods and chunky (and newly fashionable) dad jeans and pants, fathers are subjected to mild, mostly loving ridicule for the large part of the year. Which makes Father’s Day the exception: an interregnum from the usual give-and-take when we let dads and paternal figures know what they really mean to us and how much we appreciate those weekend breakfasts and early-morning rides to the airport. Instead of buying another tie that’s liable to get even less wear in these dressed-down, post-pandemic days, take note of what the high-profile men below are hoping to receive—and their best ideas for what to give.

Persons: FILSON, Todd Demsey Organizations: Scott, NOKIA, FLINT, HAT COMPANY Locations: BIOLOGIQUE RECHERCHE

☆ Rising imports, falling exports push US trade deficit to six-month high
▼ + stars: | 2023-06-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The trade deficit jumped 23.0% to $74.6 billion, the Commerce Department said on Wednesday. The government revised the goods trade data from 2018 while the trade services figures were revised from 2017. There were also increases in imports of industrial supplies and materials, though petroleum imports fell to the lowest level since August 2021. April's drop in goods exports was led by a sharp decline in exports of industrial supplies and materials, mostly crude oil and fuel oil. Adjusted for inflation, the goods trade deficit shot up 16.5% to $95.8 billion in April.

Persons: Christopher Rupkey, Lucia Mutikani, Toby Chopra, Andrea Ricci Organizations: Commerce Department, Trade, Consumer, Federal Reserve, Thomson Locations: WASHINGTON, U.S, New York

☆ US weekly jobless claims rise slightly; labor market defies recession fears
▼ + stars: | 2023-06-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

"Labor market conditions are still tight," said Nancy Vanden Houten, lead U.S. economist at Oxford Economics in New York. "While we expect the Fed to leave rates steady at its upcoming meeting, a more sustained loosening of labor market conditions is needed to keep rate hikes permanently off the table." Unadjusted claims increased by 5,296 to 207,941 last week, with notable rises in New York, Ohio and Illinois. While the labor market continues to surprise with strength, manufacturing is in a downward spiral. The Fed's "Beige Book" report on Wednesday described the labor market as having "continued to be strong" in May, but noted that "many contacts" were "fully staffed."

Persons: Nancy Vanden Houten, Unadjusted, nonfarm payrolls, payrolls, Christopher Rupkey, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: PMI, Federal Reserve, Fed, Labor, Oxford Economics, Labor Department, Reuters, Institute for Supply Management, Treasury, U.S, Thomson Locations: May WASHINGTON, U.S, New York, New York , Ohio, Illinois, Massachusetts

☆ US consumer confidence dips to six-month low, labor market views soften
▼ + stars: | 2023-05-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index slipped to 102.3 this month, the lowest level since last November, from an upwardly revised 103.7 in April. The cutoff date for the survey, which places more emphasis on the labor market, was May 22. The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, fell to 31.0, the lowest since April 2021, from 36.9 in April, suggesting the labor market was loosening up. More timely data like first-time applications for state unemployment benefits suggests the labor market remains tight, but is gradually easing. "Investors should expect Friday's job report to reveal emerging cracks in the labor market."

Persons: Christopher Rupkey, Joe Biden, Kevin McCarthy, Jeffrey Roach, Nicole Bachaud, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Labor, Conference, Social Security, Medicare, Reuters, University of, Republican U.S . House, Sunday, U.S . Labor Department, LPL, Treasury, Federal Reserve, National Association of Realtors, Federal Housing Finance Agency, Thomson Locations: WASHINGTON, New York, North Carolina, U.S, Seattle

☆ Strong US consumer spending, inflation readings put Fed in tough spot
▼ + stars: | 2023-05-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Consumer spending jumped 0.8% last month after gaining 0.1% in March. Economists polled by Reuters had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, would rise 0.4%. Adjusting for inflation, consumer spending shot up 0.5% after being unchanged in March. Consumer spending is being supported by strong wage gains in a tight labor market. The current pace of consumer spending is, however, unlikely to be sustained as Americans grow weary of inflation.

☆ Trading Nvidia earnings next week: Analysts say 'AI gold rush' should boost outlook
▼ + stars: | 2023-05-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The chipmaker, at the center of the latest generative AI arms race , has seen its stock more than double this year. Robust demand for AI, which has boosted the market , should continue to benefit Nvidia as well. Oppenheimer's Rick Schafer seemed to agreed with Rolland's perspective, calling Nvidia a "best-in-class play on AI adoption." He referred to its hardware platform as a "cornerstone" of the proliferating AI market. "Gaming channel inventory has normalized and is poised for accelerated growth into 2H," Schafer wrote.

☆ Foreign EV automakers in China need to move quickly and aggressively, analyst says
▼ + stars: | 2023-05-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailForeign EV automakers in China need to move quickly and aggressively, analyst saysChristopher Richter of CLSA says China is building very strong electric vehicle brands, and will "burst out onto a global stage."

☆ We got an inside look at a presentation showing the future of Microsoft's $20 billion health-tech acquisition. It revealed how new AI models could transform how we go to the doctor.
▼ + stars: | 2023-05-11 | by ( Blake Dodge | ) www.businessinsider.com time to read: +8 min

Microsoft bought Nuance in 2022 for nearly $20 billion to expand its reach in healthcare. CHICAGO — In 2022, Microsoft bought Nuance for nearly $20 billion to supercharge its growth in the healthcare industry. It's the first tool in Nuance's pipeline to combine the company's own AI models with that of OpenAI, ChatGPT's creator and a deep Microsoft partner. Even back in 2015, enthusiasm for the idea was palpable, Peter Durlach, Nuance's chief strategy officer, told Insider in April. In a conference presentation, Andrea Barrett, a physician assistant and Nuance consultant, demonstrates products using generative AI.

☆ Billionaires and CEOs descended on Beverly Hills to talk recession, bank failures, and more. Here's the inside track.
▼ + stars: | 2023-05-07 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: The big takeaways from the Milken Institute Global Conference in Beverly Hills. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference Mike Blake/ReutersThe big-money set jetted into LA last week for the Milken Global Conference. Biggest opportunityCampbell: The pullback in lending by banks is raising the hopes of those in the private credit industry. Read more:'Junk fees'Getty ImagesIt goes by many names: an administrative fee, a transaction fee, even a "regulatory compliance" fee. Akash Nigam, the founder and CEO of Genies, who is spending $2,400 a month on ChatGPT accounts for all his employees.

☆ The Coronation of King Charles: Order of Service
▼ + stars: | 2023-05-06 | by ( ) edition.cnn.com time to read: +46 min

The Archbishop saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? Christopher Finney GC saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? We praise thee, we bless thee,we worship thee, we glorify thee,we give thanks to thee for thy great glory,O Lord God, heavenly King, God the Father Almighty. O clap your hands together, all ye people;O sing unto God with the voice of melody. The King touches the Ring and the Archbishop saysReceive this Ring, symbol of kingly dignity and a sign of the covenant sworn this day, between God and King, King and people.

☆ US core capital goods orders fall; goods trade deficit narrows
▼ + stars: | 2023-04-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

SummarySummary Companies Core capital goods orders fall 0.4% in MarchShipments of core capital goods drop 0.4%Goods trade deficit narrows 8.1%WASHINGTON, April 26 (Reuters) - New orders for key U.S.-manufactured capital goods fell more than expected in March and shipments declined, suggesting that business spending on equipment likely remained a drag on economic growth in the first quarter. Data for February was revised down to show a 0.7% drop in these so-called core capital goods orders instead of the previously reported 0.1% dip. Economists polled by Reuters had forecast core capital goods orders would slip 0.1%. Shipments of core capital goods decreased 0.4% in March after falling by a similar margin in February. Goods imports fell $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods.

☆ Tucker Carlson's next move
▼ + stars: | 2023-04-26 | by ( Aaron Short | ) www.businessinsider.com time to read: +9 min

Tucker Carlson's dismissal signals a new realignment in conservative media. Nobody at Fox "was as connected to the MAGA base as Tucker Carlson," one ex-Trump official said. Whatever the reason, Carlson's dismissal signals a new realignment in conservative media. Last month, Tucker Carlson Tonight was the top-rated program among all news channels with 3.25 million viewers including 421,000 viewers in the coveted age 25-54 demographic. His previous work includes the 2022 profile of Carlson, The Tucker Carlson Origin Story.

☆ US business spending on equipment weakening as demand for goods slows
▼ + stars: | 2023-04-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Even though business spending on equipment weakened, demand remained strong for goods like computers and electronic products as well as electrical equipment, appliances and components. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.4% last month. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement. Goods imports dropped $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods. While the decline in imports is supportive of higher GDP, the drop in capital goods underscored weakening business spending.

☆ Tucker Carlson leaves Fox News days after Dominion lawsuit settlement
▼ + stars: | 2023-04-24 | by ( Helen Coster | ) www.reuters.com time to read: +5 min

April 24 (Reuters) - Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp (FOXA.O) settled for $787.5 million a defamation lawsuit in which Carlson played a starring role. A third person said the senior executive producer of "Tucker Carlson Tonight", Justin Wells, was also let go from Fox News on Monday. After the announcement of Carlson's departure from Fox News, a spokesperson for former President Donald Trump tweeted: "Fox News is controlled opposition." "I stand with Tucker Carlson!" Carlson joined Fox News as a contributor in 2009 and became a co-host of "Fox & Friends Weekend" in 2012.

☆ US labor market cooling; leading indicator flashes recession
▼ + stars: | 2023-04-20 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Though measured, the loss of labor market momentum added to slumping retail sales and manufacturing activity in heightening the risks of a recession as soon as the second half of the year. Jobless claimsNevertheless, the labor market is fraying around the edges. It also said contacts reported the labor market becoming less tight, noting "a small number of firms reported mass layoffs," which were "centered at a subset of the largest companies." Philly FedDespite cracks in the labor market, economists did not expect widespread job losses. The claims data covered the period during which the government surveyed business establishments for the nonfarm payrolls portion of April's employment report.

☆ Lululemon used tiny organisms instead of fossil fuels to make the nylon for its new shirt
▼ + stars: | 2023-04-18 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

Conventionally, nylon is mostly made from ingredients sourced from fossil fuels like coal, natural gas or crude oil. "It's been estimated that 8 to 10 percent of all human-associated nitrous oxide emissions come from this single industrial process" to make adipic acid, Wallace told CNBC. To make the nylon precursor used in the Lululemon shirts, Geno uses biological organisms instead of chemicals from fossil fuels. "Because nylon, like it or not, has a lot of good value," Reddy told CNBC. "Look at those first-generation replacement straws — they didn't work, and everybody's annoyed," Reddy told CNBC.

Piper Sandler said several positive catalysts are in sight for Biogen over the next several quarters. The firm named the foremost catalyst for Biogen as Alzheimer's treatment Leqembi , which it co-developed with Japanese pharmaceutical company Eisai. Specifically, while share today is minimal (0.7% of patients), docs project this share to almost quadruple within 6 months," Raymond wrote in a Monday note. Aduhelm is the controversial Alzheimer's treatment developed by Biogen and Eisai, whose sales fell below Wall Street's expectations as its efficacy was called into question. "For our part, we think Leqembi has set a high bar – especially with regard to safety," said Raymond.

☆ From one of Britain's most popular toys to the target of police raids: how a children's doll became a symbol of racism
▼ + stars: | 2023-04-16 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +6 min

A police raid on a bar just outside of London renewed a debate over racist dolls. But despite the long history of the racist trope, the debate over the doll's place in British culture continues. Revellers take part in the Children's Parade at Notting Hill Carnival in London, Britain, August 28, 2022. But it does appear that there is some gradual shift in public opinion happening with the dolls. Nevertheless, the enduring popularity of the blackface doll creates the impression "that we live in a post-racial society," Scott said.

☆ US labor market gradually losing steam; producer inflation cooling
▼ + stars: | 2023-04-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Still, the labor market and inflation are likely not cooling fast enough to stop the Federal Reserve from raising interest rates one more time next month. Claims, however, remain below the 270,000 level, a breach of which economists say would signal a deterioration in the labor market. "The upcoming labor market downturn will be modest since the drop in demand is expected to be fairly modest." InflationThe annual PPI rate is subsiding as last year's large increases drop out of the calculation. In the 12 months through March, the core PPI advanced 3.6% after increasing 4.5% in February.

☆ Florida is ground zero for moving scams where companies demand extra fees — or steal your stuff
▼ + stars: | 2023-04-12 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Moving company scams are on the rise, and almost half originate in Florida. But the Sunshine State is also increasingly home to scammers operating fraudulent moving companies targeting Florida residents and people across the country. No one's regulating," Susan Chana Lask, a New York-based consumer rights attorney who settled a lawsuit last year with a Florida-based moving company, told Insider. Her office announced last November that it had shut down 19 fraudulent moving companies and recovered $27 million in fines and restitution from the scammers. The sharp increase in moving scams across the country has also prompted the Biden administration to announce it's taking action.

☆ Opinion: Don't count DeSantis out yet
▼ + stars: | 2023-04-11 | by ( Patrick T. Brown | ) edition.cnn.com time to read: +7 min

A third Trump presidential nomination would indicate that Republican primary voters may prefer style over substance. But if they are serious about not just making liberals mad but advancing actual policy, GOP voters should consider other names, starting with the Florida governor. Recognizing key figures and institutions on the right in this way suggests a DeSantis administration would be serious about delivering on conservative principles. In short, DeSantis offers Republicans a glimpse into what a successful conservative approach to governing could look like. If GOP voters decide their primary operating principle is to enrage the media and “own the libs,” they will nominate Trump.

☆ US economy still churning out jobs at brisk clip; wage pressures subsiding
▼ + stars: | 2023-04-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Labor market tightness is drawing more people into the workforce, with 480,000 entrants last month, which could help to further restrain wage growth. The unemployment rate for Blacks dropped to an all-time low of 5.0%. Economists expect the labor market to loosen up considerably starting in the second quarter as companies respond more to slowing demand caused by the higher borrowing costs. Details of the household survey from which the unemployment rate is derived were upbeat. The employment-to-population ratio, viewed as a measure of an economy's ability to create employment, increased to 60.4% from 60.2% in the prior month.

A new EV platform, if implemented, would be the result of a far-reaching review of Toyota's electric-car strategy undertaken last year. Its current production architecture, the e-TNGA system, was launched in 2019 and produces electric vehicles on the same assembly line as gasoline cars and hybrids. The briefing was given by the former chief competitive officer tasked with the EV strategy review, Shigeki Terashi, according to the person. So far it has fallen short - its initial battery EV, the bZ4X, suffered an early recall and has had only limited sales. GM sold more than 20,000 electric vehicles during the first quarter while Toyota and its luxury brand Lexus sold about 1,880 battery electrics.

☆ Soaring cost of college; Some parents spending $750K on helping kids get into college
▼ + stars: | 2023-04-03 | 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 EmailSoaring cost of college; Some parents spending $750K on helping kids get into collegeHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Christopher Rim, Command Education, joins the show to discuss the soaring demand for his business -- getting kids into top-tier colleges.

Search resuls for: "Christopher R"

25 mentions found