DIRS.INFO The most relevant business & tech news

☆ Stephen Schwarzman says Blackstone has dumped office investments. Another corner of the firm kept lending billions.
▼ + stars: | 2023-05-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Blackstone Mortgage Trust's $8.2 billion portfolio of office loans leaves it exposed to the sector. The Blackstone-managed firm issued about $3.3 billion of US office loans since the pandemic began. Even as clouds began to gather, Blackstone Mortgage Trust continued to lend to the office sector. In addition to managing the mortgage trust, Blackstone is among its largest shareholders. A Washington office complex shows how far values have fallenThere are ongoing issues, however, in Blackstone Mortgage Trust's portfolio.

☆ Canadian banks see earnings risk from commercial property loans, TD in focus
▼ + stars: | 2023-05-22 | by ( Nivedita Balu | ) www.reuters.com time to read: +4 min

TORONTO, May 22 (Reuters) - Canadian banks are expected to report a rise in bad debt provisions and highlight risks from commercial property loans when they report earnings this week, with the country's No.2 bank TD (TD.TO) in focus after its acquisition of First Horizon (FHN.N) failed. Bay Street analysts have lowered their second quarter earnings expectations for Canadian banks, anticipating higher expenses and slowing loan growth as turmoil south of the border weighs on the broader banking sector. Still, investors view Canadian banks as safer bets than their U.S. counterparts due to their strong capital levels. BMO and Scotia Bank (BNS.TO) are due to report earnings on Wednesday, while TD, Canadian Imperial Bank of Commerce (CM.TO) and Royal Bank of Canada (RY.TO) report on Thursday. Canadian bank stocks have largely underperformed TSX Canadian bank stocks have largely underperformed TSXEmpty offices in big cities have raised concerns among investors about banks' commercial property loan exposure, since about 10% of the lending portfolio of the Big-6 banks is tied to commercial real estate.

Voters in the 2022 midterms seemed to send a clear message — a rejection of Trumpism and extremism. And yet it appears increasingly likely that he will win the Republican nomination for the 2024 presidential election. Astead W. Herndon, a national political correspondent for The Times and the host of the politics podcast The Run-Up, explains what shifted in Republican politics so that Mr. Trump’s nomination could start to seem almost inevitable.

☆ Here are the 2 very different execs in contention to be CEO of Morgan Stanley
▼ + stars: | 2023-05-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

James Gorman announced that he will step down as Morgan Stanley CEO in the next year. The three executives in contention are co-presidents Ted Pick and Andy Saperstein, as well as Dan Simkowitz, head of investment management at Morgan Stanley. Morgan Stanley declined to comment. But the long-time Morgan Stanley executives have distinct leadership styles and backgrounds. Do you work for Morgan Stanley?

☆ How a fleet of smart technology recycling trucks could help minimize waste
▼ + stars: | 2023-05-16 | by ( Sponsor Post | Created Wm With Insider Studios | ) www.businessinsider.com time to read: +4 min

"It comes down to clarity," said Brent Bell, vice president of recycling, WM. At WM, we are using technology to help remove the guesswork and educate our customers, so more materials can be captured and used again." Here's how Smart TruckSM works: When WM trucks collect recyclables from customer bins, cameras and sensors scan the materials and capture real-time video of the contents. WM"During our Smart TruckSM pilot, we found the technology and connected educational efforts reduced recycling contamination by more than 20%," said Pam Jansen, a WM director who oversees the Smart TruckSM program. Smart TruckSM and WM's investments are expected to help.

Interviews with a U.S. senator, congressional staffers, AI companies and interest groups show there are a number of options under discussion. Some proposals focus on AI that may put people's lives or livelihoods at risk, like in medicine and finance. Other possibilities include rules to ensure AI isn't used to discriminate or violate someone's civil rights. Another debate is whether to regulate the developer of AI or the company that uses it to interact with consumers. GOVERNMENT MICROMANAGEMENTThe risk-based approach means AI used to diagnose cancer, for example, would be scrutinized by the Food and Drug Administration, while AI for entertainment would not be regulated.

☆ Toronto face high-stakes uphill climb in Stanley Cup playoffs
▼ + stars: | 2023-05-08 | by ( Frank Pingue | ) www.reuters.com time to read: +3 min

"Obviously it feels a lot more like what we've been through in the past," Maple Leafs head coach Sheldon Keefe said on a video call with reporters on Monday. The Maple Leafs' win over Tampa Bay in the first round had convinced many that the team, a talented but long-underachieving group, would finally deliver the franchise its first Stanley Cup since 1967. "Our job is to win one hockey game and not get focused or bogged down by anything beyond that," said Keefe. "We can't control the big picture, we can only control one game and give us an opportunity to bring the series back to Toronto (for Game Five)." Reporting by Frank Pingue in Toronto Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: This is how the banking crisis ends
▼ + stars: | 2023-05-05 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

London CNN —US regional bank stocks look set to rebound Friday but are still down sharply this week, accentuating fears that federal regulators have not yet contained a crisis in the sector that could shake the financial system. Breaking it down: Wall Street is on the hunt for any signs of vulnerability in the banking system after the high-profile demise of Silicon Valley Bank, Signature Bank and First Republic Bank in a matter of weeks. While authorities stepped in to protect depositors at those banks, investors were left with stocks that were suddenly worthless. “I believe it really only ends after we get some type of government intervention,” Michaud told me. The value of short positions in regional bank stocks reached $15.1 billion in mid-April, up from about $13.7 billion one year ago, according to data from S3 Partners.

☆ Panthers stun Maple Leafs to draw first blood in playoff series
▼ + stars: | 2023-05-03 | by ( Frank Pingue | ) www.reuters.com time to read: +3 min

Mandatory Credit: Dan Hamilton-USA TODAY SportsTORONTO, May 2 (Reuters) - The Florida Panthers spoiled the Toronto Maple Leafs' long-awaited return to the second round of the Stanley Cup playoffs on Tuesday with a 4-2 victory in the opener of their best-of-seven series. From the moment Toronto sealed their place in the second round there has been a palpable buzz all around the city. The Leafs' win over Tampa Bay in the first round had snapped a 19-year playoff series win drought, which was the longest active such streak in the NHL, but the Panthers brought Leafs' fans crashing down to Earth at Scotiabank Arena. So I think those are the kind of things that just happened a step quicker tonight than it was in the previous series. The Panthers doubled their lead eight minutes into the second period when Sam Bennett tipped in Aaron Ekblad's shot from the point.

☆ A writer for FX's 'The Bear' went to the Writers Guild of America Awards with a negative bank account balance and won for Best Comedy Series. He's now applying for jobs at movie theaters as writers pr
▼ + stars: | 2023-04-30 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Writers Guild of America members are set to go on strike as their contract expires on May 1. A 28-year-old writer for FX's award-winning series "The Bear" said he's looking for jobs at movie theaters as members of the Writers Guild of America (WGA) prepare to go on strike Tuesday to demand better pay from studios. The writers won the Best Comedy Series award that evening, beating "Abbott Elementary" and "Barry." O'Keefe told The New Yorker that his compensation does not add up to much after accounting for representative fees and taxes. A showrunner told Insider that first-time and newer writers could make around $40,000 to 60,000 for ten weeks of work.

☆ Here are the top 10 Wall Street research firms of the past decade, according to TipRanks
▼ + stars: | 2023-04-30 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

Henry Nicholls | ReutersAfter identifying the 10 best analysts on Wall Street of the past decade, here is a list of the 10 top research firms. To create this list, TipRanks analyzed every stock recommendation made by investment research firms in the past decade. This explains why some research firms may have a higher success rate and average return yet rank lower. TipRanks has leveraged its Experts Center tool to identify the top 10 research firms. Top 10 Wall Street Research FirmsThe image below shows the most successful Wall Street research firms in descending order.

☆ The Maple Leafs, Better Late Than Never, Finally Win a Playoff Round
▼ + stars: | 2023-04-30 | by ( Shawna Richer | ) www.nytimes.com time to read: +1 min

arena that is home to the Maple Leafs was jammed and jumping like a mosh pit on a damp, cold — even for Canadian springtime — Saturday night. Far south in Tampa, Fla., center John Tavares scored in overtime against the Lightning to end an excruciating stretch of playoff futility for the Maple Leafs. Back in Toronto, near and far from the outdoor crowd watching the game on a ginormous screen, car horns bleated across this longtime playoff wasteland. The mob, some members of it screaming, some crying, some setting off fireworks, some suddenly shirtless, throbbed like a nightclub throng. A few dramatic celebrators climbed lamp posts, hanging by one hand and filming the scenes with the other.

☆ Fact Check-Video features deepfakes of Nancy Pelosi, Alexandria Ocasio-Cortez and Joe Biden
▼ + stars: | 2023-04-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

(Editors note: Paragraph 11 contains language some readers may find offensive)A video with clips of Rep. Nancy Pelosi, Rep. Alexandria Ocasio-Cortez and President Joe Biden that have been digitally altered is being shared by users who believe it to be real. The video includes clips from the documentary Pelosi in the House, made by Pelosi’s daughter Alexandra (here). We’re at [redacted], which has facilities for the House and the Senate to meet. Project Veritas and James O’Keefe, both mentioned in the video, did not immediately respond to a request for comment. Audio tracks appearing to be the voices of Rep. Nancy Pelosi, Rep. Alexandria Ocasio-Cortez and President Joe Biden were added onto various clips.

☆ Your work-from-home carbon footprint is bigger than you think—3 ways to shrink it
▼ + stars: | 2023-04-22 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The waters of Venetian canals cleared up; animals around the world roamed freer without the threat of human presences. Daily global carbon emissions were down 17% by April 2020 as compared to the same period a year earlier, according to a study in the journal Nature Climate Change. Carbon emissions have climbed back to their pre-pandemic levels. Now, more workers are powering more workspaces — at the office, at home and anywhere else you can open a laptop. Harrison says there are a few steps workers can take to make their hybrid work life more sustainable:

☆ Tavares gets hat-trick as Leafs avenge Lightning rout to level series at 1-1
▼ + stars: | 2023-04-21 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

TORONTO, April 20 (Reuters) - Captain John Tavares scored his first postseason hat-trick as the Toronto Maples Leafs avenged a Game One rout with a 7-2 thrashing of the Tampa Bay Lightning on Thursday, leveling the opening round Stanley Cup playoff best-of-seven series at 1-1. Leafs fans had their fingers on the panic button after a 7-3 loss to the Lightning on Tuesday, booing the team off the ice. "We needed a response tonight in a big way," said Leafs coach Sheldon Keefe. The oddsmakers are backing Toronto to win the best-of-seven series but history favors the Lightning, who have won seven consecutive playoff series after taking the first game. Thursday's contest turned nasty right from the start with the Leafs' Mark Giordano and Tampa Bay tough guy Zach Bogosian dropping the gloves to fight early in the opening period.

☆ Republicans in battleground states sidestep endorsing Trump as they eye 2024 Senate bids
▼ + stars: | 2023-04-14 | by ( Nicole Gaudiano | Warren Rojas | ) www.businessinsider.com time to read: +7 min

Republicans weighing 2024 Senate bids in key states haven't settled on Donald Trump for 2024. "As Senate Republican's primary dynamics get messier by the day, Senate GOP candidates are in a lose-lose situation when it comes to Trump," said Nora Keefe, a spokesperson for the Democratic Senatorial Campaign Committee. Representatives for the three GOP prospects and the Senate GOP campaign arm either did not elaborate or respond when asked for comment. Rep. Mike Gallagher, a potential Senate candidate in another battleground state, Wisconsin, has repeatedly said he would not support Trump since the Trump supporters stormed the US Capitol in the January 6 insurrection. I stand by what I said," he said during an Axios forum when asked if he would support Trump if he becomes the nominee.

☆ Democrats are betting Republicans' defense of Donald Trump's criminal charges will age like milk on the 2024 campaign trail
▼ + stars: | 2023-04-07 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +6 min

Republicans facing tough 2024 races are defending Donald Trump against criminal charges. Democrats are betting their defense of Trump will hurt them in competitive 2024 races. Lauren Boebert (@RepBoebert) April 4, 2023Boebert is on House Democrats' list of 31 vulnerable Republicans and two competitive open seats that they are targeting to take back control of the House in 2024. Biden hasn't commented on Trump's charges, and Democrats in Congress are treading carefully. Democrats shouldn't get ahead of the judicial process, said Rodell Mollineau, a cofounder and partner at Rokk Solutions in Washington, DC.

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Wells upgrade, STZ reports, FedEx's new day
▼ + stars: | 2023-04-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Raises price target to $52 from $47. Charles Schwab (SCHW) price target slashed to $65 from $89 at Keefe Bruyette. Analyst keeps an outperform rating on shares, acknowledging risks to near-term earnings outlook, but says the sell-off is now overdone. Evercore ISI lowers price target to $535 from $545, but keeps outperform rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario. "I have not considered or discussed anything having to do with blanket insurance or guarantees of deposits," she said. The Morgan Stanley report considered that a potential extension of FDIC insurance could bring a majority of First Republic's customers back. Even if it clinches a cash infusion, the lender will probably need to take losses on securities in its so-called held-to-maturity portfolio, the Morgan Stanley analysts wrote. In the worst-case scenario, First Republic's shares would sink to just $1, Morgan Stanley analysts estimated.

Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario. That hope was reduced on Wednesday, after Yellen told a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services that the government "is not considering insuring all uninsured bank deposits." The Morgan Stanley report considered that a potential extension of FDIC insurance could bring a majority of First Republic's customers back. Even if it clinches a cash infusion, the lender will probably need to take losses on securities in its so-called held to maturity portfolio, the Morgan Stanley analysts wrote. In the worst-case scenario, First Republic's shares would sink to just $1, Morgan Stanley analysts estimated.

☆ Grimes said she got a brain gadget for her birthday from a company competing with Elon Musk's Neuralink
▼ + stars: | 2023-03-22 | by ( Grace Kay | Hilary Brueck | ) www.businessinsider.com time to read: +5 min

Neurosity's device is designed to help people focus, but some developers are using it as a BCI. "Getting a non invasive brain computer interface for my birthday (!!!!? Grimes' birthday 'Crown' measures brain activity, and is designed to help people focusNeurosity's headset uses electroencephalogram technology, or EEG, to measure brain activity by placing small metal electrodes on a person's scalp. In a now-deleted tweet, the singer said Neurosity's device allowed her to use her mind to move a cursor. Meanwhile, Neurosity's device is already on the market.

☆ KBW gives a slew of safe-haven bank stocks to buy after SVB collapse
▼ + stars: | 2023-03-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Some bank stocks remain "safe havens" for investors even after the Silicon Valley Bank collapse , according to Keefe, Bruyette & Woods. The firm recommended 11 stocks that investors should buy "right here, right now" following the sell-off in bank stocks in the wake of SVB's failure, as well as the regulatory response over the weekend, according to a Sunday note. That could spell a buying opportunity for some bank stocks. "We see a potentially significant rebound in several bank stocks, as the market is likely to believe that the Fed and FDIC stuck the landing," analyst Christopher McGratty said to clients on Sunday. Old National Bancorp is a buying opportunity that's also a best idea for 2023, according to the note.

☆ Bank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
▼ + stars: | 2023-03-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Bank stocks plunged on Thursday as investors assessed the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital. SVB Financial surprised investors with lowered guidance, a $2.3 billion capital raise, and a massive $1.8 billion loss from its bond portfolio. "Part of the problem is Silicon Valley [Bank] had been telling investors up until a couple weeks ago that their guidance was intact. Piling onto the mess in the banking sector on Thursday is the development that crypto-oriented bank Silvergate Capital would wind down its operations. NYSE senior market strategist Michael Reinking shared similar sentiments, telling Insider that the sharp decline at Silicon Valley Bank was "sending shock waves through the financials."

☆ Banks tumble as SVB ignites broader fears about the sector
▼ + stars: | 2023-03-09 | by ( Sinéad Carew | ) www.reuters.com time to read: +2 min

The SPDR S&P regional banking ETF (KRE.P) was down 6.0% after hitting its lowest point since January 2021. "The Silicon Valley raise got everybody nervous about people's capital levels and what deposits are doing. "It just gets people freaked out because Silicon Valley, historically has been a very strong, well-run bank. If they're having issues right now, people are wondering what about other banks that are lesser quality and that don't have the reputation that Silicon Valley Bank has." Investors were also grappling with the decline of cryptocurrency-focused lender Silvergate Capital (SI.N), which said earlier this month it was evaluating its ability to operate as a going concern.

At the Fontainebleau hotel, Credit Suisse bankers were puzzled by the announcements, and concerned about their jobs being on the line, said the executive, who declined to be named. In response to questions from Reuters for this article, a spokesperson for Credit Suisse in London said: "We never comment on rumours or speculation." 'A ROCK AND A HARD PLACE'Even after Credit Suisse stopped financing hedge funds following the Archegos implosion in March 2021, the equities business remained a key part of its investment bank revenue. One option Credit Suisse is considering is to move its equities research to CSFB, Reuters reported. Slimming down the equities business would draw a further line under Credit Suisse's investment bank ambitions.

Search resuls for: "Keefe"

25 mentions found