DIRS.INFO The most relevant business & tech news

Top 5 air fryer dealsThe best Prime Day deals for air fryersYou can cut down on using oils and fats by cooking with an air fryer. Deal Oster Digital Air Fryer Oven with RapidCrisp During Prime Day, the Oster Digital Air Fryer Oven with RapidCrisp is available at a 25% discount. Deal Dreo Aircrisp Pro Air Fryer The Dreo Aircrisp Pro Air Fryer uses space efficiently, making perfect wings and fries without taking up too much counter real estate. Deal Cosori Air Fryer Toaster Oven Ranking as a top pick in our guide to the air fryer toaster ovens, we found that the Cosori 13-Quart Air Fryer Toaster Oven does an outstanding job making frozen fries. Deal Chefman Digital Air Fryer (5 Qt) The Chefman Digital Air Fryer is a great option for those who want to cook more in their air fryer without it taking up too much countertop space.

Persons: We've, fryer, James Brains, Pro Air Fryer, it’s, Fryer, it's, Price Dash Tasti Organizations: Amazon Prime, Oster, Fryer, Oster Digital, Amazon, Pro Air, Price Philips, Philips, Quart, Smart, Digital Air Fryer, Digital, Price Dash Tasti Crisp, Air, Instant

☆ EU seals new US data transfer pact, but challenge likely
▼ + stars: | 2023-07-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, July 10 (Reuters) - The European Commission announced a new data transfer pact with the United States on Monday, seeking to end the legal uncertainty plaguing thousands of companies that transfer personal data across the Atlantic. The move was immediately criticised by non-profit group noyb, led by privacy activist Max Schrems, which said it would challenge the agreement. U.S. President Joe Biden welcomed the data transfer pact and said it reflected a "joint commitment to strong data privacy protections." Earlier this year, the EU's privacy watchdog, the European Data Protection Board, said the latest data agreement still fell short and urged the commission to do more to protect Europeans' privacy rights. Europe's top court scuppered the previous two deals after challenges by Schrems because of concerns about U.S. intelligence agencies' accessing European citizens' private data.

Persons: Max Schrems, Joe Biden, Didier Reynders, Schrems, Cecilia Bonefeld, Dahl, Foo Yun Chee, Kanishka Singh, Philip Blenkinsop, Christina Fincher, Leslie Adler Organizations: European Commission, Atlantic, European Court, Justice, Airbus, Apple, Ericsson, Nokia, Philips, Samsung, Data Protection, Thomson Locations: BRUSSELS, United States, Washington

☆ EU seals new US data transfer pact but challenge ahead
▼ + stars: | 2023-07-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, July 10 (Reuters) - The European Commission announced a new data transfer pact with the United States on Monday, seeking to end the legal uncertainty plaguing thousands of companies which transfer personal data across the Atlantic. However, the move was immediately criticised by non-profit group noyb, led by privacy activist Max Schrems, which said it would challenge the agreement. The EU executive said measures taken by the United States ensured an adequate level of protection for Europeans' personal data transferred across the Atlantic for commercial use. It said new binding safeguards, such as that limiting U.S. intelligence services' access to EU data to what is "necessary and proportionate" and the setting up of a Data Protection Review Court for Europeans, address the concerns raised by Europe's top court. Earlier this year, EU privacy watchdog the European Data Protection Board said the latest data agreement still fell short and urged the Commission to do more to protect Europeans' privacy rights.

Persons: Max Schrems, Didier Reynders, Schrems, Cecilia Bonefeld, Dahl, Foo Yun Chee, Philip Blenkinsop, Christina Fincher Organizations: European Commission, EU, Atlantic, European Court, Justice, Airbus, Apple, Ericsson, Nokia, Philips, Samsung, European Data Protection, Commission, Thomson Locations: BRUSSELS, United States, EU

☆ World Bank names CEOs to help bring private funds to climate, development finance
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga

☆ Businesses criticise new EU data rules, consumer group sees missed opportunity
▼ + stars: | 2023-06-28 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 28 (Reuters) - Businesses and Big Tech on Wednesday criticised European Union data rules agreed between EU countries and lawmakers, saying they could hinder data flow and contractual freedom, while a pan-European consumer group said they did little for Europeans. The Data Act, agreed on Tuesday, sets out rights and obligations for how Big Tech and companies use European consumer and corporate data, focusing on that generated in smart devices, machinery and consumer products. Revelations by former U.S. intelligence contractor Edward Snowden in 2013 of mass U.S. surveillance have led to EU concerns about data transfers. Tech lobbying group Computer & Communications Industry Association (CCIA) said the new rules disadvantage Big Tech -labelled as large online platforms under separate newly adopted EU tech legislation - and hence limits consumers' choice. The European Consumer Organisation (BEUC) lamented the agreement as a missed opportunity to do more for users.

Persons: Edward Snowden, Cecilia Bonefeld, Dahl, CCIA, Ursula Pachl, Foo Yun Chee, Alex Richardson Organizations: Big Tech, European Union, EU, Airbus, Google, Nokia, Qualcomm, Philips, SAP, Siemens, Sony, Tech, Computer & Communications Industry Association, Digital Markets, European Consumer Organisation, Thomson Locations: BRUSSELS, EU

☆ To the Conductor Claudio Abbado, the Orchestra Was a Collective
▼ + stars: | 2023-06-23 | by ( David Allen | ) www.nytimes.com time to read: +2 min

Achieving that ideal was no simple task with orchestras of long traditions and routines, though Abbado remade the Philharmonic in his image, and lastingly so. Striving to fulfill that promise led him not only to embrace the energy of youth orchestras, but also to support and found ensembles of like mind: the Chamber Orchestra of Europe, the Mahler Chamber Orchestra and the Orchestra Mozart. The most extravagant was the Lucerne Festival Orchestra, a coterie of colleagues and admirers with whom he gave critically sanctified summer performances from 2003 until just before his death. The breadth is extraordinary — what other conductor was as adept as Abbado in Rossini as well as in Webern and Ligeti? — yet it still excludes records he made for EMI, RCA and Sony, as well as most of his vaunted Mahler from Lucerne.

Persons: Abbado, Martha Argerich, Maurizio Pollini, Schell, “, ”, Karajan, Orchestra Mozart, Rossini, Webern, Ligeti, Mahler Organizations: Berlin Philharmonic, Chamber Orchestra of Europe, Chamber Orchestra, Orchestra, Lucerne Festival Orchestra, Deutsche Grammophon, Decca, Philips, Universal Music Group, EMI, RCA, Sony Locations: Lucerne

☆ Ukraine Recovery Conferece: War-torn economy needs private investors to rebuild
▼ + stars: | 2023-06-21 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

Ukraine faces an enormous fundraising challenge, and it’s one that governments and development finance institutions won’t be able to meet without help from private investors. The Ukraine Development Fund is still in the planning stages and is not expected to launch until the conflict ends. But it faces a crucial test Wednesday, when it will canvas support from governments and investors attending the London conference. Attracting private investmentThe Ukraine Development Fund aims to raise so-called concessionary capital from governments and development finance institutions, and then use that to attract private investment. Sunak also unveiled a “war-risk insurance” framework Wednesday, backed by Group of Seven countries, which will help limit potential losses faced by private investors in Ukraine.

Persons: London CNN —, Rishi Sunak’s, Antony Blinken, Sergei Chuzavkov, Volodymyr Zelensky, Stefan Weiler, JPMorgan’s, Weiler, It’s, ”, Brandon Hall, ” Hall, Yan Dobronosov, ” Zelensky, Sunak, ” Sunak, Lenna Koszarny, — Jo Shelley Organizations: London CNN, Conference, Citi, Sanofi, Philips, Bank, World Bank, BlackRock, JPMorgan, Ukraine Development Fund, CNN, Fund, London, BlackRock’s, Group of, Private, Horizon Locations: Russia, Ukraine, London, United States, Russian, Kyiv, Ukrainian, Europe, East, Africa, Kupiansk

If the investment is finalised at that figure, the company would become one of the largest foreign investors in Vietnam. Growatt, which produces battery systems and energy storage inverters for residential and commercial use, did not reply to requests for comment. It has yet to pass legislation, however, that would permit the use of energy storage facilities to strengthen its power network. Hithium, which currently does not have a presence in Vietnam, specialises in manufacturing stationary energy storage products, including cells and larger containers that help manage the intermittent supply of energy from solar or wind farms. The global stationary energy storage market is estimated to jump in value to roughly $224 billion by the end of the decade from just over $31 billion in 2021, according to Precedence Research.

Persons: Francesco Guarascio, Phuong Nguyen, Edwina Gibbs Organizations: Energy, Xiamen Hithium Energy Storage Technology, Research, Panasonic, Philips, Thomson Locations: Vietnam HANOI, Vietnam, Xiamen, Europe, U.S, Growatt

George Clinical declined to comment. The private equity firm has entered a deal to buy most of George Clinical, the clinical research organisation said in December, adding the transaction was subject to FIRB approval. George Clinical did not disclose a sale price but said its parent, the George Institute, a medical research group, would retain an undefined stake. The George Clinical deal would involve the holding of healthcare and patient data which is considered sensitive in Australia. Hillhouse has offered to ensure data remains onshore and not be shared overseas, the people said.

Persons: George Clinical, Hillhouse, Zhang Lei, George, George Clinical's, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Christopher Cushing Organizations: Hillhouse Capital, Foreign Investment, Board, of, Treasury, George Institute, Yale University, Tencent Holdings, HK, JD.com Inc, Baidu Inc, Koninklijke Philips NV, Thomson, & $ Locations: HONG KONG, Beijing, Hong Kong, Singapore, London, United States, Australia, China, Refinitiv, Netherlands, Asia, Pacific, Sydney

☆ Can Christie Succeed as ‘Trump Slayer’? New Jersey Has Thoughts.
▼ + stars: | 2023-06-05 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

Any race that pits Mr. Christie against Mr. Trump is bound to be especially personal. Mr. Trump seemed to find joy in belittling Mr. Christie from the White House; Mr. Christie blamed Mr. Trump for giving him a bout of Covid that left him gravely ill and hospitalized. In interviews with New Jersey voters, Mr. Christie’s assets and liabilities were repeatedly described as two sides of the same coin. And to Trump loyalists who might prefer that Mr. Christie retreat permanently to his beach house in Bay Head, it was much the same refrain: He is not Mr. Trump. After dropping out of the 2016 presidential contest, Mr. Christie became one of Mr. Trump’s biggest boosters.

Persons: Christie, Mr, Trump, “, ” David Philips, ” Mr, Philips Organizations: New, Democrats, Trump Locations: New Jersey, Bay, Trenton

☆ Royal Philips to Pay $62 Million to Settle China Bribery Probe
▼ + stars: | 2023-05-17 | by ( Dylan Tokar | ) www.wsj.com time to read: 1 min

Philips agreed to settle without admitting or denying the SEC’s findings. Photo: Eva Plevier/REUTERSRoyal Philips , a Dutch medical supply company, has agreed to pay $62 million to resolve claims by regulators that it violated a U.S. antibribery law by improperly manipulating Chinese procurement processes and influencing public officials at Chinese state-run hospitals. The Amsterdam-based company’s conduct in China violated the Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission said Thursday. The regulator said Philips had agreed to settle its claims without admitting to or denying the findings from its investigation.

We're initiating a position in GE Healthcare (GEHC), buying 325 shares at roughly $79 each. GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions. GE Healthcare is one of the global leaders in Precision Diagnostics with an industry-leading injectable pharmaceutical portfolio in contrast media and molecular imaging. GE Healthcare is one of a few companies that offer a full suite of products and solutions to support patients. GEHC YTD mountain GE Healthcare YTD performance Analysts see GE Healthcare growing EPS to $4.33 in 2024, about a 15% increase from this year's outlook.

☆ Philips says tests on 95% of recalled devices show limited risks
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

Companies Koninklijke Philips NV FollowAMSTERDAM, May 16 (Reuters) - Dutch medical devices maker Philips (PHG.AS) said on Tuesday that independent tests had shown 95% of its respiratory devices involved in a major global recall had shown limited health risks. The company expects to have test results for the remaining machines involved in the recall later in the year. It said exposure to particulate matter emissions and volatile organic compounds from degraded foam in DreamStation devices was "unlikely to result in an appreciable harm to health in patients". Philips had already said last year that tests indicated foam degradation was very rare and was linked to the use of unauthorised ozone-based cleaning products. It now added that foam degradation as a result of such cleaning was also unlikely to result in an appreciable harm.

☆ These European companies cut jobs this year
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +4 min

TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.

☆ Barcelona reaches third straight Women’s Champions League final with draw against Chelsea
▼ + stars: | 2023-04-28 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Barcelona reached its third straight Women’s Champions League final with a 1-1 draw against Chelsea on Thursday, ensuring the Spanish club advanced 2-1 on aggregate. “In the second half I knew that it was a tense situation but also a dangerous one because one slip from us could have let Chelsea level the tie. In what was a rematch of the 2021 Women’s Champions League final in which Barcelona comfortably beat Chelsea 4-0, Thursday’s game was a much tighter affair, with both sides having good chances. Felipe Mondino/LiveMedia/ShutterstockBut Reiten’s leveler ensured a nervy final 20 minutes, but Chelsea was unable to find that illusive goal. Especially second half, I thought we were the better team.

☆ SEC’s Climate-Disclosure Rule Isn’t Here, but It May as Well Be, Many Businesses Say
▼ + stars: | 2023-04-26 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

A Philips Digital 3T MRI scanner. The company has worked not just to quantify emissions stemming from its supply chain, but also has pushed suppliers to adopt their own carbon-emission targets. Photo: Jasper Juinen/Bloomberg NewsA sweeping U.S. climate-disclosure rule isn’t yet in place, and it is sure to face legal challenges when it is, but many companies have begun assessing greenhouse-gas emissions from parties in their supply chain as if it were. The Securities and Exchange Commission’s rule—which would require public companies to report climate-related risks and emissions data, including so-called Scope 3 emissions that come from a company’s supply chain—is expected to be brought in soon. The agency issued the proposal in March 2022 as President Biden’s efforts to address global warming through legislation stalled in Congress.

☆ Credit Suisse’s corpse drags on Nomura
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Like peers, it is feeling the pain of the Silicon Valley Bank crisis and Credit Suisse’s (CSGN.S) collapse. And Nomura (8604.T), as with Goldman Sachs (GS.N), is ill-positioned to benefit from rising lending rates as much as commercial banks are; both investment-banking firms posted a 5% decline in net revenue in the most recent quarter. Wholesale revenue, dragged down by a 20% decline in investment banking, contracted for the quarter but remained up 10% for the year. Retail and investment management contracted compared to the prior quarter; that could be more than just seasonal if the global economy stays rickety. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Reckitt CEO switch may boost odds of a takeover
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - Reckitt Benckiser’s (RKT.L) decision to appoint an insider as CEO may help to entice prospective buyers, like U.S. giant Procter & Gamble (PG.N). Reckitt has been a perennial takeover target, as previous bosses struggled to deliver consistently strong revenue growth. It is still paying down a hefty debt pile following an ill-advised $17 billion takeover of baby food maker Mead Johnson in 2017. Net revenue grew by nearly 8% year-on-year in the first quarter – after excluding acquisitions, disposals and currency fluctuations. Reckitt’s shares trade at 17 times forecast 2023 earnings, compared with P&G’s multiple of nearly 25 times.

☆ News anchor carnage is a post-Trump reality
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

Rupert Murdoch’s Fox (FOXA.O) announced the abrupt departure of star host Tucker Carlson, while Don Lemon, an anchor at rival CNN, said he had been fired. After the easy news cycle served up by former President Donald Trump’s administration, the networks are going through an identity crisis. Network chief Chris Licht is trying to reposition the organization toward straight-down-the-middle journalism, but is struggling to get the lineup to click. Even MSNBC is trying to recapture the magic after leading host Rachel Maddow left her five-day-a-week spot last year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Thyssenkrupp gives investors wrong kind of breakup
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 24 (Reuters Breakingviews) - An abrupt CEO departure adds yet more problems for Thyssenkrupp’s (TKAG.DE) long-suffering investors. Merz was drafted in after her predecessor Guido Kerkhoff himself left after just 14 months, amid an aborted steel spinoff. Progress on a listing of Thyssenkrupp’s hydrogen business or a steel spinoff has been slow, despite a plan to hive off weaker units. Thyssenkrupp says it will continue its transformation, and appointed a former Siemens (SIEGn.DE) executive, Miguel Ángel López Borrego, to replace Merz. Yet investors still smarting from a minus 37% total return under its last bold CEO now seem to be expecting more of the same.

☆ Philips’ convalescence has way longer to run
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

Adjusted earnings before interest, taxes and amortisation of 359 million euros beat analysts’ average estimate of 226 million euros, per Visible Alpha data. The recall of faulty breathing devices and ventilators means Philips needs to set aside another 575 million euros for lawsuits on top of over 1 billion euros last year, but that’s less than Bernstein analysts’ expectation of 2.4 billion euros. Still, probes by the U.S. Department of Justice and further claims from injured patients mean Philips may need to cough up more money. Jakobs still faces some fundamental questions: Philips’ 7% EBITA margin last year was way off rival Siemens Healthineers’ (SHLG.DE) 18%. That explains why the latter trades on 28 times its 2023 earnings, versus Philips’ 19 times.

☆ Philips makes $631 mln provision for recall litigation costs
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

Companies Koninklijke Philips NV FollowAMSTERDAM, April 24 (Reuters) - Dutch health technology company Philips (PHG.AS) on Monday said it had set aside 575 million euros ($631 million) for possible litigation costs related to its global recall of respiratory machines. Amsterdam-based Philips is grappling with the fallout of a global recall of millions of respirators used to treat sleep apnoea, announced in June 2021 over worries that foam used in the machines could become toxic. The recall has knocked off around 70% of Philips' market value over the past two years as investors fear the costs of a string of lawsuits launched by concerned patients. Philips is still working on a settlement with the U.S. Food and Drug Administration (FDA) and is subject to an investigation by the U.S. Department of Justice. Philips also reported much better-than-expected first-quarter results, as core profit jumped almost 50%, to 359 million euros, and comparable sales were 6% higher than a year before.

☆ Bob Iger’s stalling may be stifling
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

The $180 billion company run by Bob Iger is kicking off its second round of layoffs, according to Reuters, part of an effort to cut $5.5 billion in costs. That’s a solid effort to keep activist Nelson Peltz, who had griped about Disney’s margins, at bay for now. The tricky part is ensuring assets don’t lose even more value before Iger heads out the door. Iger said he would leave the company and is meant to be setting up a successor. The balance act is ensuring Iger doesn’t degrade value, leaving a mess for his successor, whenever that person comes along.

☆ Big Tech earnings are on deck this week. Why that matters
▼ + stars: | 2023-04-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —With Microsoft, Alphabet, Amazon and Meta Platforms all slated to report earnings this coming week, investors are turning their attention away from bank earnings to Big Tech. Another major theme for tech earnings is the race toward artificial intelligence. Earnings reports from Meta Platforms (META), Boeing (BA) and ServiceNow (NOW). Earnings reports from Amazon (AMZN), MasterCard (MA), T-Mobile (TMUS), Keurig Dr Pepper (KDP) and Capital One (COF). Earnings reports from Exxon Mobil (XOM), Chevron (CVX), Colgate-Palmolive (CL) and New York Community Bancorp (NYCB).

☆ Big Tech earnings, crucial inflation call — here comes the biggest week of earnings season
▼ + stars: | 2023-04-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. 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: "Philips"

25 mentions found