DIRS.INFO The most relevant business & tech news

☆ A Critical Dam Is Destroyed on Ukraine’s Front Line
▼ + stars: | 2023-06-06 | by ( Matthew Cullen | Justin Porter | ) www.nytimes.com time to read: +1 min

The Kakhovka dam and electric plant on the front line in southern Ukraine was destroyed today, sending torrents of water through the breach and forcing tens of thousands of people to evacuate. Russia and Ukraine were quick to blame each other for the disaster, but it was not immediately clear who was responsible. Officials in Kyiv said that Moscow’s forces had blown up the Russian-controlled dam in the predawn hours, a day after U.S. officials said it appeared a Ukrainian counteroffensive had begun. More than 40,000 people could be in the path of the flooding in both Ukrainian- and Russian-controlled territory, a Ukrainian official said. “People here are shocked,” said our colleague Marc Santora, who was in southern Ukraine.

Persons: ”, Marc Santora, “ They’ve Locations: Ukraine, Russia, Ukrainian, Antonivka

☆ SEC sues Coinbase, calling it an unregistered crypto broker
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

On Tuesday, the US Securities and Exchange Commission sued Coinbase, America’s largest crypto exchange, for allegedly acting as an unregistered broker. “Since at least 2019, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities,” the SEC said in a press release. The Coinbase lawsuit comes on the heels of a similar SEC complaint against Binance, which is by far the world’s biggest crypto exchange. Since then, digital asset prices have tanked and regulators have stepped up their scrutiny of the industry. “It should get crypto closer to final rules of the road regardless of how the judge rules.”

Persons: Coinbase, “ Coinbase, ”, “, Binance, Nansen, Cowen Organizations: New, New York CNN, US Securities and Exchange Commission, Binance, SEC, CNN, Binance.US Locations: New York

Extensive flooding inundated villages and swept away structures after a dam was destroyed in southern Ukraine on Tuesday, according to local officials and imagery of the aftermath. In the town of Antonivka, about 40 miles downriver from the Kakhovka dam, residents looked on in horror at the roiling coffee-colored floodwaters released by its destruction. About 4,000 residents remained there before the flooding on Tuesday, out of a prewar population of about 13,000. Ukraine and Russia blamed each other for the attack on the dam, which is in Russian-held territory. In Nova Kakhovka, the city immediately next to the destroyed dam, the City hall and the Palace of Culture were inundated.

Organizations: Planet Labs PBC, Institute, American, Google, UKRAINE, RUSSIA, BY, BY UKRAINE Dnipro, Local, Kakhovka, Reuters, International Atomic Energy Agency Locations: Ukraine, UKRAINE UKRAINE, Dachi Kherson, Kherson, RUSSIA Stara Zbur’ivka, UKRAINE, RUSSIA, Kardashynka Kherson, Black, Russian, Dnipro, Antonivka, BY UKRAINE, Oleshky, Salt Lake, Utah, Russia, City, Culture

☆ U.S. Removes Sanctions on Russia-Linked Yacht Roiling Caribbean Nation
▼ + stars: | 2023-06-02 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/u-s-removes-sanctions-on-russia-linked-yacht-roiling-caribbean-nation-1cd85b6b

Persons: Dow Jones Locations: russia, caribbean

☆ Alan Menken on ‘The Little Mermaid’ and the Mixed Blessing of Disney Fame
▼ + stars: | 2023-05-29 | by ( Sarah Bahr | ) www.nytimes.com time to read: +2 min

What was it like working with Lin-Manuel Miranda on new songs for “The Little Mermaid”? I gave him a little Caribbean tune thinking he would lyricize that, and in fact, he rapped over it! In 1997, David Horn, now the executive producer of PBS’s “Great Performances” series, told The New York Times, “When there’s a Sondheim musical, everyone refers to it as a Sondheim musical. When it’s something Alan has done, they refer to it as a Disney musical.” Do you still mind your shows being known as Disney musicals? I sometimes would have a little resistance to simply being characterized as “Disney composer Alan Menken” because I already had a huge hit with “Little Shop of Horrors” before I went to Disney.

☆ Long Before Impeachment, G.O.P. Rifts Were Growing in Texas
▼ + stars: | 2023-05-28 | by ( J. David Goodman | ) www.nytimes.com time to read: +1 min

The impeachment of the Texas attorney general, Ken Paxton, by a majority of his fellow Republicans has exposed an undercurrent of division and discontent that is roiling the Republican Party in the most populous state where it still enjoys near total political control. While the vote in the House of Representatives on Saturday tore suddenly through the heart of Texas politics, the underlying resentments had been gathering force for months, if not years, not over individual personalities but over how Republicans should use their power and what shape the party should take in the future. The fight over Mr. Paxton’s impeachment, which drew in national Republican figures including former President Donald J. Trump, offered a stark demonstration of two increasingly warring currents in Republican politics. Though the eruption was unexpected — as of a week ago there was little public indication that an impeachment could be imminent — it was the culmination of a session of the Texas Legislature, where Republicans dominate both chambers, that was defined by steadily increasing intraparty acrimony.

☆ Social Security benefits could be the first to go in a matter of days if the US defaults — and retirees will 'really suffer' if Congress doesn't raise the debt ceiling by then
▼ + stars: | 2023-05-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The US could default on its debt as soon as June 5 if the debt ceiling isn't raised by then. Social Security, Medicaid, and SNAP could be among the first programs to go unpaid. At the top of the list are Social Security, Medicare, Medicaid, and SNAP, along with Supplemental Security Income (SSI) payments — all programs that retirees heavily rely upon. Social Security is the biggest federal program, with over 67 million Americans relying on payments. So even if it is possible to prioritize Social Security benefits, we can't insulate Social Security beneficiaries from some serious harm."

☆ Creepy close-up images of the sun reveal yarn-like strands, dark pores, and a 'light bridge' crossing a decaying sunspot
▼ + stars: | 2023-05-24 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

The sun looks spooky and mysterious in new images from the world's most powerful solar telescope. The Daniel K. Inouye Solar Telescope has been observing the sun from the Hawaiian island of Maui since it first opened in 2020. Its first video, below, showed roiling solar plasma, each cell the size of Texas. Dark "pores" on the solar surface indicate powerful magnetic fields, which are likely driving the dark threads visible in the atmosphere above. The bright yellow surface plasma cools until its density is so low that it drops below the surface, through the dark lanes between cells.

☆ Meet Wall Street's rising stars of equity research, the ones to watch as the stock market faces one of its biggest challenges yet
▼ + stars: | 2023-05-22 | by ( Carter Johnson | Emmalyse Brownstein | Paige Hagy | ) www.businessinsider.com time to read: +2 min

Meet Insider's lineup of up-and-coming talent in the world of equity research. The group hails from JPMorgan, Morgan Stanley, Goldman Sachs, and other top Wall Street firms. Lizzul is one of Insider's equity-research rising stars for 2023, a group of 17 up-and-coming research analysts covering a range of sectors, including energy and cybersecurity. To qualify for the list, analysts had to be 35 or younger, based in the US, working in sell-side equity research at a Wall Street firm, and producing work that stood out from competitors. Here is Insider's 2023 list of the top up-and-coming stars of equity research on Wall Street:

Here's the latest:ELECTRIC VEHICLE FRICTIONBiden's domestic policy is embodied in working to electrify roadways across the United States. Getting more electric vehicles on the roads is central to his climate change agenda, ensuring the vehicles are "Made in America" is part of his commitment to restore manufacturing jobs. But the IRA's consumer tax credits are tightly linked to the cars' and batteries being made in the U.S., roiling allies in Europe and Asia whose companies sell into U.S. markets. Instead, Japanese and U.S. officials struck a trade deal on electric vehicle battery minerals that expands eligibility for the $7,500 per vehicle EV tax credits in the IRA. NEW RACE FOR SUBSIDIESThe promise of corporate tax credits has renewed interest in investing in the U.S., and Europe has responded with subsidies of their own.

☆ Montenegro court releases crypto entrepreneur Do Kwon on bail
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +2 min

BELGRADE, May 12 (Reuters) - A court in Montenegro agreed on Friday to release Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, on bail of 400,000 euros ($440,320), pending a trial on local charges. Following his arrest in Montenegro in March, the U.S. District Court in Manhattan made public an eight-count indictment against Do Kwon for securities fraud, wire fraud, commodities fraud and conspiracy. He was detained with Han Chang-joon, Terraform Labs' former finance officer, who will also be released on bail of 400,000 euros. "The court ... found that the possibility of losing the posted bail of 400,000 euros each, works sufficiently to dissuade them from any desire to flee," the statement said. Montenegrin police arrested Do Kwon and Chang-joon at Podgorica airport as they tried to board a flight to Dubai.

☆ 'iCarly' writers join the WGA strike as showrunner Ali Schouten calls out Hollywood studios' 'corporate greed'
▼ + stars: | 2023-05-11 | by ( Reed Alexander | ) www.businessinsider.com time to read: +13 min

Insider spoke to Ali Schouten, the showrunner behind Paramount+ series "iCarly," about what's at stake. The "iCarly" writers will link up with the picket line outside the lot where the show is filmed, according to Ali Schouten, the series' showrunner and executive producer. Ahead of the "iCarly" writers' picketing on Thursday, I spoke with Schouten to understand what she and her colleagues are fighting for. Lisa Rose/Paramount+The last writers' strike resulted in $2 billion worth of losses for the California economy, and some experts predict the impact of this work stoppage could be even greater. How is the writers' strike impacting you, your business, or your family?

☆ Stocks rise as U.S. inflation trends lower, bond yields slide
▼ + stars: | 2023-05-10 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The odds of the Fed cutting rates later this year also increased. Consumer prices decelerated to 4.9% year-on-year, the 10th straight month of slowdown as prices react to the Fed's rate-tightening cycle. The two-year Treasury yield, which typically moves in step with rate expectations, slid from 4.05% before the CPI news and dropped to 3.908%. The dollar index eased 0.20% and equity markets rose as the CPI data suggested the Fed's most aggressive rate hikes in four decades were yielding results. U.S. crude futures fell 1.6% to settle at $72.56 a barrel, and Brent settled down 1.3% at $76.41 a barrel.

The likelihood the Fed cuts rates later this year also increased. "The Fed does not aim get rate policy right just in time, they aim to get it right over time." Consumer prices decelerated to 4.9% year-on-year, the 10th straight month of slowdown as prices react to the Fed's rate-tightening cycle. The two-year Treasury yield, which typically moves in step with rate expectations, slid from 4.05% before the CPI news and dropped to 3.904%. Gold prices slipped as the CPI data was viewed as mixed and triggered profit-taking by some investors.

Equity markets initially rose as the CPI data suggested the Fed's most aggressive rate hikes in four decades were yielding results. MSCI's gauge of stocks across the world (.MIWD00000PUS) edged down 0.06%, while stocks on Wall Street wavered after an early rally. CHINA CRACKDOWNForeign exchange markets had been treading water while markets weighed policymakers' rhetoric against traders' conviction that U.S. interest rates should fall. Emerging markets currencies rallied on Wednesday following the U.S. data, with MSCI's index (.MIEM00000CUS) up 0.15%. U.S. crude recently fell 2.06% to $72.19 per barrel and Brent was at $76.00, down 1.86% on the day.

☆ Stocks tiptoe higher as US inflation data offers hope
▼ + stars: | 2023-05-10 | by ( Lawrence White | ) www.reuters.com time to read: +4 min

MSCI's gauge of global equity performance (.MIWD00000PUS) rose 0.03% after the Labor Department's Consumer Price Index (CPI) rose 4.9% year-over-year in April, against expectations of 5%. "Bigger picture, I think the market is hyper fixated on the ‘pause’ but a pause is still restrictive overall," he said. The dollar index hit a session low of 101.36 after the headline April inflation data, while benchmark 10-year German bond yields edged down 4 basis points. Emerging markets currencies rallied on Wednesday following the U.S. data, with MSCI's index (.MIEM00000CUS) up 0.26%. Spot gold turned positive after the CPI data, last trading up 0.3%.

☆ Stocks stumble in jittery mood ahead of US inflation
▼ + stars: | 2023-05-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

S&P 500 futures were steady and European futures rose 0.1%. "That's the thing that'd get taken out if CPI numbers come in on the higher side," said ING economist Rob Carnell. "It doesn't look particularly sensible if inflation is falling at too slow a rate and that could feed through into higher longer-term treasury yields as well." Interest rate futures imply about a 60% chance the Federal Reserve cuts rates in September, according to the CME FedWatch tool. "But the debt ceiling drama, and market participants’ focus on rate cuts is unlikely to change much from one CPI report.

☆ Disney’s Losses From Streaming Narrowed in the Last Quarter
▼ + stars: | 2023-05-10 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

To understand the forces that have been roiling the biggest media companies, look no further than Disney’s earnings. Disney said on Wednesday that losses in its streaming business for the most recent quarter totaled $659 million, an improvement from a year earlier (and a vast improvement from the October-to-December period, when losses totaled $1.1 billion). Streaming revenue climbed 12 percent, reflecting a sharp increase in revenue per paid Disney+ subscriber, a metric investors watch closely. Disney’s linear networks (ESPN, Disney Channel, ABC, National Geographic, FX) reported $1.8 billion in operating income, down 35 percent from a year earlier. Operating profit in the company’s Parks, Experiences and Products division climbed 22 percent, to $2.2 billion, as Disney resorts in Shanghai and Hong Kong finally began to recover from the pandemic.

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

☆ The International Space Station is hiding in this mind-blowing photo, as it passes the sun. Can you spot it?
▼ + stars: | 2023-05-04 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

The International Space Station passes the sun in a gorgeous portrait by photographer Andrew McCarthy. Can you spot the space station in this portrait of an increasingly active sun? It erupts high-energy radiation into space, some of which slams into the International Space Station rocketing around Earth. The space station zips across the sun like a fast-moving needle in a haystackMcCarthy's multi-telescope setup to capture his photo of the space station crossing the sun. He used the sunspots as a visual cue, knowing the space station would pass in front of them.

CNN —The violence that has exploded in Sudan as the country’s two top generals grapple for power has unfolded at a terrifying, breakneck speed. Hemedti uses this discourse as a bloody shirt to maintain his influence and military forces for future use,” Fareid said. Marwan Ali/APFrom a subclan of the Mahariya Rizeigat tribe, nomadic people that herded camels in Darfur, Hemedti got his start as a commander of the Janjaweed. Unlike Sudan’s former dictator, Hemedti has not faced charges from the International Criminal Court. The general’s shared sense of impunity was underlined in October 2021, when they staged a coup, arresting Hamdok and his cabinet.

☆ Trump expresses shock over Tucker Carlson's ouster: 'Especially over the last year or so, he's been terrific to me'
▼ + stars: | 2023-04-25 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

"Especially over the last year or so, he's been terrific to me," Trump said of Carlson. He's a very good person and a very good man," Trump told Newsmax host Greg Kelly on Monday. Trump told Kelly he was unsure if Carlson left voluntarily, or if Fox News had fired Carlson. "But I think Tucker's been terrific," Trump said. "We are very, very close to being able to ignore Trump most nights," Carlson wrote, per Dominion's filing.

☆ The stock market is quiet right now. Perhaps too quiet.
▼ + stars: | 2023-04-25 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +3 min

By multiple measures, the stock market is the calmest it's been since the end of 2021. JPMorgan quant guru Marko Kolanovic says the equity market is far too placid right now, considering all the headwinds it's facing. He says technical factors are suppressing volatility in the face of rising rates, credit tightening, and macro risks. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThe stock market is awfully quiet right now. Those rising rates have led to a tightening of credit availability, a dynamic reinforced by recent banking-system turmoil.

☆ American offices are half-empty. That could be the next big risk for banks
▼ + stars: | 2023-04-10 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

“I’m more concerned than I’ve been in a long time,” said Matt Anderson, managing director at Trepp, which provides data on commercial real estate. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp. Questions about the health of banks with sizable exposures to commercial real estate loans cause customers to pull deposits. That forces lenders to demand repayment — exacerbating the sector’s downturn and further damaging the banks’ financial position. The likeliest outcome is thought to be an uptick in defaults and reduced access to funding for the commercial real estate industry.

☆ Premarket stocks: What markets are watching after digesting the US jobs data
▼ + stars: | 2023-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

While inflation has come down and other economic data point to a cooling economy, the labor market has remained remarkably resilient. The labor market is cooling but not rapidly or significantly, and further rate hikes can’t be ruled out. More trouble for commercial real estateA few weeks ago, Before the Bell wrote about big problems brewing in the $20 trillion commercial real estate industry. In a worst-case scenario, anxiety about bank lending to commercial real estate could spiral, prompting customers to yank their deposits. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate.

Search resuls for: "roiling"

25 mentions found