DIRS.INFO The most relevant business & tech news

☆ Shopify sinks as investors worry over big spending in weak economy
▼ + stars: | 2023-02-16 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

Pandemic-related disruptions propelled the company to briefly become Canada's most valuable firm before online demand eased as economies reopened and forced it to launch new products, boost investments and focus on social media integration. Such investments and Wednesday's warning on macro-challenges have spooked investors concerned about profitability. "Our outlook reflects the prudence that we think is necessary in this macro environment," company president Harley Finkelstein said in an interview on Thursday. "The lack of annual guidance suggests limited near-term visibility to the sustainability of consumer spending," he said. Some analysts also flagged Shopify's significant exposure to categories such as apparel, which could take a hit from softening consumer spending.

☆ Singapore faces a 'delicate balancing act' amid weak economy and inflation, says deputy PM
▼ + stars: | 2023-02-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

watch nowSINGAPORE — Setting Singapore's budget was challenging this year, as it required a "very delicate balancing act" to ensure fiscal prudence while helping Singaporeans deal with rising costs, Finance Minister Lawrence Wong told CNBC in an exclusive interview. "It's particularly challenging this year, because it really was a very delicate balancing act to manage due to the different competing demands and pressures," Lawrence Wong, who is also deputy prime minister, said Wednesday, a day after announcing Singapore's budget to Parliament. But yet, we can't taper down too quickly, because the economy is still weak," Wong told CNBC's Martin Soong on "Squawk Box Asia." Our economy has recovered back to pre-Covid levels, but our fiscal position is still quite weak, and it is still very tight. Lawrence Wong Singapore foreign ministerSingapore expects a slight deficit of $2 billion Singapore dollars ($1.5 billion), or 0.3% of GDP, for fiscal year 2022.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

India's finance minister will present the annual budget to parliament on Wednesday. Bloomberg | Getty ImagesIndia's finance minister will present the annual budget to parliament on Wednesday. Finance Minister Nirmala Sitharaman will announce the final full-year budget before the next general elections in 2024. Analysts expect the government to focus on continued fiscal consolidation for this year's budget, despite challenges. Nirmala Sitharaman, India's finance minister, speaks during a news conference at the National Media Center in New Delhi, India, on Monday, Nov. 15, 2021.

☆ Analysis: Italy's Meloni belies radical image in cautious first 100 days
▼ + stars: | 2023-01-26 | by ( Crispian Balmer | ) www.reuters.com time to read: +6 min

But almost 100 days since Meloni took office at the head of the most right-wing government Italy has seen since World War Two, these concerns have largely melted away. "We have seen something of a metamorphosis," said Sofia Ventura, a political science professor at Bologna University. Friend and foe alike say a significant reason for the softly-softly approach is money -- or rather a lack of it. "What happened in the UK shows ... how cautious we have to be with our fiscal and monetary policy mix," EU Commissioner Paolo Gentiloni, a former Italian prime minister, said at the time. VITAL FUNDSAdding to the pressure on Meloni is Italy's dependence on the European Union's recovery and resilience fund.

☆ Italy's Intesa convinces investors on payouts
▼ + stars: | 2023-01-23 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

Investors fretted about the impact on earnings and the bank's ability to stick to generous capital distribution plans, starting with a pending 1.7 billion euro share buyback. Intesa has put the buyback on hold, despite receiving European Central Bank clearance, until approval of 2022 results on Feb. 3. In the fourth quarter, Intesa shed risks on 10.3 billion euros in loans through two so-called synthetic securitisation deals, including a jumbo 8 billion euro transaction. Market calculations put the cost of similar transaction at around 25 million-30 million euros a year for 2 billion euros in assets. Intesa also sold 4 billion euros in leasing contracts.

☆ Cramer’s week ahead: 'Be on your toes’ this earnings period
▼ + stars: | 2023-01-20 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Tuesday: General Electric, 3M, Union Pacific, MicrosoftGeneral ElectricQ4 2022 earnings release at 6:30 a.m. 3MQ4 2022 earnings release at 6:30 a.m. Wednesday: Boeing, IBM, ServiceNowBoeingQ4 2022 earnings release at 7:30 a.m. IBMQ4 2022 earnings release at 4:08 p.m. Friday: American ExpressQ4 2022 earnings release at 7 a.m.

We are initiating a position in Caterpillar (CAT), buying 55 shares at roughly $257.86 apiece. In addition, we are selling 50 shares of Starbucks (SBUX) at roughly $106.87 a share. SBUX 1Y mountain Starbucks (SBUX) shares 1-year performance As for Starbucks , this small trim is consistent with our strategy of taking profits following the coffeemaker's big run. (Jim Cramer's Charitable Trust is long CAT, SBUX. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Take profits on Starbucks after its huge run, and check out these 3 other stocks
▼ + stars: | 2023-01-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Our answer is yes, we would make a very small trim — 50 shares of our 750 share position in Starbucks (SBUX) — if we were not restricted from trading. This speculation hit the stock hard that day because China is a huge growth opportunity for the coffee retailer. SBUX 1Y mountain Starbucks (SBUX) 1-year performance There is a lot to be bullish about in Starbucks' future, but a lot of that good news is starting to get priced in. Following Thursday's positive session for stocks, the market pushed even deeper into overbought territory, according to the S & P Oscillator . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Jordan truckers' strike exposes woes of impoverished south
▼ + stars: | 2023-01-12 | by ( Suleiman Al-Khalidi | ) www.reuters.com time to read: +5 min

"Diesel is my lifeline," said 54-year-old Abu al-Zait, who has seen his livelihood thrown into jeopardy by high fuel price rises since Russia invaded Ukraine. The month-long sit-in cost Jordan tens of millions of dollars in losses when it paralysed unloading at the Red Sea port of Aqaba, according to officials and industrialists. It was the latest bout of unrest in Maan, a poor tribal stronghold about 250 km (156 miles) south of the capital. Fuel price rises, combined with high taxes and spiralling food costs in a nation that imports most goods, has made life unaffordable for many. Like many Arab states, Jordan has in the last decade seen widespread unrest as it reduced food and fuel subsidies.

☆ Feds propose ‘student loan safety net’ alongside forgiveness
▼ + stars: | 2023-01-10 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

President Joe Biden announced the repayment plan in August, but it was overshadowed by his sweeping plan to slash or eliminate student debt for 40 million Americans. Education Department officials on Tuesday called the new plan a “student loan safety net” that will prevent borrowers from getting overloaded with debt. “Student debt has become a dream killer,” Education Secretary Miguel Cardona said. The Education Department formally proposed the new repayment plan on Tuesday by publishing it in the Federal Register, starting a public comment period that often takes months to navigate. Even some on the left have questioned the prudence of the idea, saying it’s so generous that it effectively turns student loans into grants that don’t need to be repaid.

☆ No spending spree likely in last full Indian budget before 2024 election: Reuters poll
▼ + stars: | 2022-12-22 | by ( Vivek Mishra | ) www.reuters.com time to read: +4 min

BENGALURU, Dec 22 (Reuters) - The Indian government will focus on fiscal consolidation in its Feb. 1 budget, the last full one before a 2024 general election, according to a Reuters poll of economists who said slowing economic growth would limit it from spending more. That will likely limit the government's ability to provide relief to households and businesses facing an uneven recovery from the pandemic. Economic growth likely slowed sharply to an annual 4.6% in the December quarter from 6.3% reported in the preceding quarter. Sitharaman's expected fiscal prudence coincides with state assembly elections in Karnataka, Chhattisgarh, Madhya Pradesh and Rajasthan in 2023, which would likely discourage the government from making deep cuts to social welfare. Among those who expect it to be a more populist budget, some said the government would announce new subsidies, an increase in healthcare and rural spending to boost jobs.

☆ China’s Leaders Plot Pivot Back Toward Boosting Economy
▼ + stars: | 2022-12-15 | by ( Keith Zhai | ) www.wsj.com time to read: 1 min

Targeting strong GDP growth points to rising concern among senior Chinese leaders that a prolonged slowdown could undermine a central pillar of the Communist Party’s legitimacy. SINGAPORE—The Chinese government is shifting back to growth mode, as a rapid deterioration in economic conditions prompts alarmed officials to turn more of their focus to development after years of criticizing cadres who gave priority to growth at the expense of social stability and fiscal prudence. He Lifeng, who was added to the Communist Party’s top policy-making body, the Politburo, at a party conclave in October, is drafting a growth plan of more than 5% for next year, according to people familiar with the matter.

☆ Spooked investors have pulled billions of dollars off Binance. Data suggests fears may be overblown
▼ + stars: | 2022-12-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Investors have been pulling billions of dollars of funds off Binance amid growing scrutiny over the crypto exchange's reserves. On Tuesday afternoon, more than $6.6 billion in crypto had left the exchange over a 24-hour period, according to Nansen. This has investors spooked about the health of Binance in the wake of former competitor FTX's spectacular downfall, which ended Tuesday with CEO Sam Bankman-Fried's arrest and indictment . It remains to be see how wide the damage done by FTX spreads in the crypto market. Clara Medalie, research director at crypto data firm Kaiko, said liquidity on Binance has stayed stable and bitcoin's market depth is holding steady.

☆ IMF says global debt well above pre-pandemic levels despite steep 2021 drop
▼ + stars: | 2022-12-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247% of global gross domestic product in 2021 from its peak of 257% in 2020. In dollar terms, global debt continued to rise, although at a much slower rate, reaching a record $235 trillion last year. The unusually large swings in debt ratios - or "global debt rollercoaster" - were caused by the economic rebound from COVID-19 and the ensuring swift rise in inflation, the IMF said. But low-income countries saw their total debt ratios continue to increase in 2021, driven by higher private debt, with total debt reaching 88% of GDP. High inflation levels continued to help reduce debt ratios in 2022, but spending will increase if inflation becomes persistent, which could lead to higher premiums.

John Ray, chief executive officer of FTX Cryptocurrency Derivatives Exchange, arrives at bankruptcy court in Wilmington, Delaware, US, on Tuesday, Nov. 22, 2022. It could be one way for the DOJ to gather evidence of alleged fraud. In a filing in Delaware federal bankruptcy court, Andrew Vara, a U.S. bankruptcy trustee, told the court that the allegations of corporate misconduct and complete failure merited an immediate and speedy examination of the events leading up to FTX's stunning collapse three weeks ago. It's not unusual to appoint a bankruptcy examiner. There was one to oversee the crypto bankruptcy process of Celsius Network, for example.

☆ U.S.-Backed Researchers Use AI to Probe for Weaknesses in Drug Supply Chains
▼ + stars: | 2022-11-30 | by ( Richard Vanderford | ) www.wsj.com time to read: +6 min

The U.S. Department of Homeland Security has approved research that will use artificial intelligence to delve into drug supply chains and probe for weaknesses, including foreign influence. Any overreliance on foreign inputs in drug supply chains could leave the U.S. open to dire shortages in the event of conflict or natural catastrophe. PREVIEWThe DHS-backed dive into drug supply chains will examine to what extent the supply of drugs might be susceptible to disruption. The new DHS-backed study will try to map out supply chains several layers deep, and potentially uncover previously hidden issues, Mr. Tuchman said. Consultant Steven Lynn says the pandemic opened people’s eyes to issues inherent in far-flung pharmaceutical supply chains.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ US consumer confidence falls to lowest level since July
▼ + stars: | 2022-11-29 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN Business —US consumer confidence fell in November as inflation and economic uncertainty continued to loom large and potentially dampen holiday shopping plans. The Conference Board’s consumer confidence index measured 100.2 for the month, lower than the downwardly revised 102.2 in October. The index is at its lowest level since July, when it fell to 95.7 amid spiking gas prices and worsening inflation. “If we had a combination of higher prices and higher unemployment at the same time, I think we’d be seeing a very different consumer than what we see right now,” he said. While consumer confidence has fallen, it still remains relatively resilient; but it is unlikely to last, said Chris Rupkey, chief economist of FwdBonds LLC, in a note on Tuesday.

☆ The Bahamas has hit out at 'extremely regrettable' criticism from FTX's new CEO after the Nassau-based crypto giant collapsed
▼ + stars: | 2022-11-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

After FTX went bankrupt, the Bahamas suspended its license and took control of its digital assets. The Bahamas attorney general accused the FTX CEO of "inaccurate allegations" in his court filings. After the crypto exchange founded by Sam Bankman-Fried entered bankruptcy earlier in November, the Bahamas suspended FTX's license and took control of its digital assets by transferring them into a government crypto wallet. Ray is also known for acting as CEO for energy giant Enron, and handled its liquidation after accounting fraud. FTX's bankruptcy has led to calls for tighter crypto regulations from both US senators and the Bank of England.

☆ Politics in Malaysia has changed and become more competitive: research institute
▼ + stars: | 2022-11-25 | 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 EmailPolitics in Malaysia has changed and become more competitive: research instituteFrancis Hutchinson of Iseas Yusof Ishak Institute says that Malaysia could potentially see 'a rather large cabinet', which he says will run counter to commitments towards fiscal prudence.

☆ UK economy is lagging substantially behind other developed nations, OECD report says
▼ + stars: | 2022-11-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Aaron Chown - Pa Images | Pa Images | Getty ImagesLONDON — U.K. growth has lagged the world's biggest economies since the Covid-19 pandemic and is substantially below the OECD average, according to a new report from the influential Paris-based group. In the G-7 nations — which includes Canada, France, Germany, Italy, Japan, the U.S. and U.K. — GDP has grown by a cumulative 2.5%, with only the U.K. recording a decline. Former Bank of England policymaker Michael Saunders this week told CNBC Hunt's plan had a "massive" hole where an economic growth strategy should be. 'Light at the end of the tunnel'Tuesday also saw the release of the OECD's global Economic Outlook report. Pereira told CNBC: "We are facing a very challenging environment.

☆ America’s Right Confronts the 21st Century
▼ + stars: | 2022-11-20 | by ( Christopher Demuth | ) www.wsj.com time to read: 1 min

Political conservatism has general characteristics, notably prudence, practicality and respect for settled traditions and institutions. But conservatives bring these dispositions to bear in a variety of times and places. American conservatism isn’t in thrall to the status quo. We have always been a nation of bustling aspiration and earnest self-criticism, perpetually seeking to remake the status quo. Conservatives have been as striving and critical as their neighbors, discontented with the circumstances at hand and impatient to set things right.

☆ Fiscal prudence from the UK chancellor is critically important, Barclays says
▼ + stars: | 2022-11-17 | 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 EmailFiscal prudence from the UK chancellor is critically important, Barclays saysStephen Dainton, co-head of global markets at Barclays, speaks on CNBC's "Squawk Box Europe."

☆ Oil prices ease as China COVID concerns outweigh supply woes
▼ + stars: | 2022-11-16 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Oil prices settled higher on Tuesday after oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline was temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. “From all accounts, China is persisting with its zero-COVID policy, which is a natural dampener for oil market sentiment,” said Vandana Hari, founder of Vanda Insights in Singapore. That has dampened the oil demand growth outlook, with the International Energy Agency (IEA) forecasting demand growth to slow to 1.6 million bpd in 2023 from 2.1 million bpd this year. Earlier, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for 2022 global oil demand growth for a fifth time since April citing mounting economic challenges. Industry data showing a bigger-than-expected drop in U.S. crude stockpiles provided some support to oil prices.

Search resuls for: "Prudence"

25 mentions found