DIRS.INFO The most relevant business & tech news

☆ Retail investors are bailing on the stock market, leaving bearish pros to decide its fate
▼ + stars: | 2023-03-09 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Retail investors are buying fewer stocks as the market stagnates under the weight of higher interest rates and stubborn inflation — a loss of a key group to keep positive momentum going. Greenlight Capital's David Einhorn told CNBC earlier this month that investors should be bearish on stocks because of rising inflation. Along with the macroeconomic woes, Vanda thinks the dented enthusiasm from the retail audience is in part because interest in Tesla shares is waning. Tesla hosted an investors day to start the month that largely disappointed investors because of a lack of details about its future plans, including a possible cheaper vehicle. TSLA 1M mountain Tesla shares, 1 month Tesla shares are off 12% this month.

☆ 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.

☆ Ken Griffin just keeps winning
▼ + stars: | 2023-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

No, 4.1 billion represents the number of dollars Ken Griffin made from his hedge fund, Citadel, in 2022 alone. Griffin made more money in one hour than the average American makes in their lifetime! Oh, and one more thing: That's not even all the money Griffin earned in 2022! I've said before you could make the case for Griffin being the most powerful person on Wall Street. And check out this fascinating profile from Insider's Dakin Campbell on Ken Griffin.

☆ SEC Chair Gensler says 'Scope 3' emissions disclosures aren't 'well developed,' hinting they could be scaled back in climate rule
▼ + stars: | 2023-03-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, testifies before the Senate Banking, Housing and Urban Affairs Committee during an oversight hearing on Capitol Hill in Washington, September 15, 2022. WASHINGTON — SEC Chair Gary Gensler hinted again Monday that the agency was considering scaling back its emissions disclosure rule. The SEC received a record 15,000 or so comments on the rule, "more than we've gotten on any other role in the history of our commission," Gensler said. Gensler has previously said the agency was considering making "adjustments" to the rule, given the volume of public comments. But a group of Democratic lawmakers are pressing Gensler not to drop Scope 3 disclosures from the final rule.

☆ Major fears are sweeping into Israel's economy
▼ + stars: | 2023-03-02 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +4 min

Picture Alliance | Picture Alliance | Getty ImagesNew concerns about Israel's economy are leading global investors to question the money they have in the country. The law would alter Israel's judicial system by giving sitting governments full control of judicial appointments. A drop in Israel's credit rating would increase the cost of borrowing and hurt fundraising. A major part of the Israeli economy is tied to the value of the Israel shekel against the U.S. dollar. That in turn hurt critical parts of Israel's economy including real estate, as companies and individual citizens moved their money into U.S. dollars or other currencies.

"We feel it's the right thing to do by allowing all shareholders to vote on such critical issues rather than keeping it away from the voting process," Lui told Reuters. Ping An in November urged HSBC to lower costs by cutting jobs and disposing of peripheral non-Asian businesses. "The shareholders will need to demonstrate that the requisition is valid before it can be formally accepted," a spokesperson for HSBC said. HSBC's other institutional shareholders, particularly in Britain, have so far shown little appetite for a break-up. Lui told Reuters that HSBC has requested both proposals to be submitted as 'special' resolutions, which he said shows the lender is "very worried" that the proposal will be passed.

☆ British police face struggle to clean up sexist culture after scandals
▼ + stars: | 2023-02-22 | by ( Michael Holden | ) www.reuters.com time to read: +7 min

London's Metropolitan Police has been hardest hit: After years of saying serious misconduct cases were isolated incidents, it now says it must change its culture. "We have failed and I'm sorry," Mark Rowley, the Met's new chief and Britain's most senior officer, said in January. According to an official report, officers had passed off the conversations as 'banter'. RISING CRIMESome officers officers think the government needs to look at itself. Braverman was reported last year as having told police chiefs to prioritise "common-sense policing" over diversity efforts and virtue-signalling "woke" messaging.

☆ People of Color Fill One Out of Five Corporate Board Seats for the First Time
▼ + stars: | 2023-02-21 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

Some large institutional investors, state legislators and regulators have pushed for more diversity on corporate boards. Racial and ethnic minorities now hold 20% of all board seats at the nation’s largest public companies for the first time, according to a new study. Black people have experienced some of the biggest gains, according to ISS Corporate Solutions Inc., an analytics firm that provides corporate governance data to companies and a unit of Institutional Shareholder Services Inc. Black directors now hold 8.3% of all board seats, up from 4.4% four years ago.

☆ Ukraine yet to make defence a safe investor haven
▼ + stars: | 2023-02-20 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

MUNICH, Feb 20 (Reuters Breakingviews) - The West’s rush to supply weapons to war-torn Ukraine looks like a golden opportunity for defence companies to exit the ESG doghouse. As with air-polluting coal, socially-minded investors including pension funds and insurers - particularly European ones - have long excluded or heavily restricted investment in defence companies on ethical grounds. Risk committees, particularly at domestic banks, are now more frequently assessing the merits of financing defence companies, two senior bankers among the 850 or so conference participants said. Proponents of the approach argue military companies that help Ukraine perform a globally valuable social function by upholding democracy. The Munich Security Index, a global risk perceptions survey conducted before the conference, showed security concerns had replaced climate challenges as the top concern.

☆ Welcome to Generation Quit
▼ + stars: | 2023-02-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Now, Gen Z is suffering from lack of mentorship, tenure, and stability at a pivotal point in their careers. The cascade of quits over the last two years created a generative machine: Workers see others quitting, then they quit in turn. Short-staffed companies work the remaining employees harder — leading them to quit. Welcome to Generation Quit. As pretty much everyone began leaving, the workers left behind were more burnt out and overloaded.

☆ The investment chief behind the AI-driven fund that uses IBM's Watson supercomputer explains how bots like ChatGPT will change markets
▼ + stars: | 2023-02-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The AI Powered Equity ETF uses insights from IBM's Watson supercomputer, and has beaten the broader market in 2023. Chris Natividad, chief investment officer of Equbot, said the ETF has grown in popularity with the rise of ChatGPT. He helps run the AI Powered Equity ETF (AIEQ), which launched in 2017 in partnership with ETF Managers Group. It leverages data from IBM's Watson supercomputer to balance its portfolio, which has been quietly beating the market so far in 2023. "We're going to see different operators find more utility, different folks who have different investment ideas will be able to test and trade on these ideas using AI.

☆ Analysis: Clock ticking for loan market as Libor nears its end
▼ + stars: | 2023-02-16 | by ( John Mccrank | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Feb 16 (Reuters) - It's crunch time for the corporate loan market. "The shot clock is on," said Tal Reback, who leads KKR's global Libor transition efforts. The Libor transition began in 2017 and had been smooth until 2022, when rising interest rates, decades-high inflation, Russia's war on Ukraine and recessionary fears rocked markets. "The new issue market shut down," said Ian Walker, head of legal innovation at financial information provider Covenant Review. Libor was phased out for new contracts at the end of 2021, though most existing U.S. dollar-denominated contracts have until June 30 to switch.

☆ Buffer ETFs were big winners in 2022. Here's how they work when markets rally
▼ + stars: | 2023-02-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

Defined outcome and buffer ETFs proved their worth in 2022's bear market, but a murky market outlook for 2022 could make using the funds a bit more complicated for investors. Buffer ETFs — offered by several firms, including First Trust, Innovator, and Allianz — were a winning strategy for investors in 2022. And they've done exactly what we said they were going to do," said Trevor Terrell, head of distribution at Innovator ETFs. And if the rally continues past the cap, the funds could be in for a terrible year. The success of the buffer funds last year could lead to different types of defined outcome strategies coming to market soon.

☆ Shell’s board of directors sued over climate strategy in a first-of-its-kind lawsuit
▼ + stars: | 2023-02-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Shell's directors are being personally sued for allegedly failing to adequately manage the risks associated with the climate emergency in a first-of-its-kind lawsuit that could have widespread implications for how other companies plan to cut emissions. Environmental law firm ClientEarth, in its capacity as a shareholder, filed the lawsuit against the British oil major's board at the high court of England and Wales on Thursday. It alleges 11 members of Shell's board are mismanaging climate risk, breaching company law by failing to implement an energy transition strategy that aligns with the landmark 2015 Paris Agreement. "The shift to a low-carbon economy is not just inevitable, it's already happening. Yet the Board is persisting with a transition strategy that is fundamentally flawed, leaving the company seriously exposed to the risks that climate change poses to Shell's future success — despite the Board's legal duty to manage those risks," Benson said.

☆ Yorkshire admit four charges after investigation into racism claims
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Yorkshire County Cricket Club has admitted liability to four amended charges including a failure to address and take adequate action against racist and discriminatory language, the England & Wales Cricket Board (ECB) said on Tuesday. Yorkshire and a number of individuals were charged by the ECB in June after an investigation into racism claims made by former player Azeem Rafiq, who alleged in 2021 that he had been a victim of institutional racism at the club. Ballance has previously apologised to Rafiq in person for using racist language. Both Yorkshire and Ballance will not be required to attend a hearing in London following the acceptance of the charges. "Today's announcement is an important step forward for Yorkshire County Cricket Club as part of its journey to learn from the past," Yorkshire chairman Kamlesh Patel said in a statement.

The campaign increases the pressure on non-executive Chairman Norbert Winkeljohann, who has faced calls from large shareholders for the swift replacement of Chief Executive Werner Baumann, who engineered Bayer's troubled Monsanto takeover. The approaches come after Ubben's activist investment fund Inclusive Capital Partners said last month it had bought a 0.83% stake in Bayer. David Herro, deputy chairman of Harris Associates, told Reuters in brief emailed comments that Ubben had contacted him to discuss Bayer. A spokesperson said Bayer was always open to a constructive dialogue with shareholders and declined to comment further. Investors who have publicly called for a swift CEO change hold at least a combined 6.7% in Bayer, according to Refinitiv data.

☆ Adani stocks have now wiped out over $100 billion in market value as botched share sale piles on trouble
▼ + stars: | 2023-02-02 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

The Adani Group has lost more than $100 billion in market value as its stocks took a beating from the Hindenburg report. Shares in its flagship business, Adani Enterprises, shed more than 25% on Thursday. The volatility in Adani stocks forced founder Gautam Adani to pull a $2.5 billion share sale for Adani Enterprises on Wednesday. Shares in its flagship company Adani Enterprises plunged 26.7% Thursday, and are down almost 60% this year. Meanwhile, Adani's personal fortune has tumbled after the Hindenburg report.

☆ Brokers team up on new platform to boost retail interest in UK capital markets
▼ + stars: | 2023-02-02 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Feb 2 (Reuters) - Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen access for small investors to the UK capital market. "The collaboration of market participants using this service is an important step towards the more equitable inclusion of retail investors in UK capital markets," said a joint statement from brokers. One aim is to make it easier for retail investors to participate in capital markets, a step the European Union is also working on, with legislative proposals due in April. The government has said it will implement recommendations from a review of secondary capital markets to overhaul company fundraisings and give more access to retail investors. REX enables retail investors to participate in capital markets transactions such as initial public offers and follow-on equity offerings through retail brokers and wealth managers.

☆ Wall Street's expectations for AI's influence on markets are skyrocketing, JPMorgan survey says
▼ + stars: | 2023-02-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Amid the recent hype surrounding ChatGPT, Wall Street increasingly anticipates artificial intelligence will change how markets operate. A JPMorgan survey found that 53% of traders believe AI will be the technology with the biggest influence on future trading. To be sure, AI technology has been revolutionizing Wall Street for years. Meanwhile, the hype created by ChatGPT has sent artificial intelligence stocks like Nvidia surging recently. The craze has even sent some obscure small-cap artificial intelligence stocks soaring too.

☆ Traders see inflation falling this year - JPMorgan survey
▼ + stars: | 2023-02-01 | by ( Naomi Rovnick | ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters) - Most traders believe global inflation has peaked, while potential recession has emerged as the main risk to markets this year, according to a survey released on Wednesday. JPMorgan's annual survey of institutional and professional trading clients found that 44% of the 835 respondents predicted inflation will decrease in 2023. "Inflation was the number one concern for the market for quite a while," said Scott Wacker, head of FICC e-commerce sales at JPMorgan. The majority of JPMorgan's survey respondents in Europe, where price rises are running at around 9%, believed inflation rates would decrease. Traders in the U.S., where headline consumer prices rose at a rate of to 6.5% in the year to December, mostly thought inflation would plateau from here, the survey showed.

☆ Crypto is now toxic on Wall Street and an overwhelming majority of traders refuse to touch it this year, according to a JPMorgan survey
▼ + stars: | 2023-02-01 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

A JPMorgan survey of institutional traders found that 72% don't plan on trading cryptocurrencies or digital assets this year. Meanwhile, only 8% said they were actively trading cryptos. But despite the recent strength, 72% of traders say they don't have any plans to trade crypto or digital assets in 2023, according to a survey from JPMorgan. That dim view aligns with some other heavyweights on Wall Street. The JPMorgan survey was conducted in January, after a dismal 2022 for the crypto sector that saw bitcoin plunge nearly 70%.

India's largest ever secondary share sale attracted participation from anchor investors including Maybank Securities and Abu Dhabi Investment Authority, as well as India's HDFC Life Insurance and state-backed Life Insurance Corporation (LIFI.NS). By Tuesday the overall share sale was fully subscribed as foreign institutional investors and corporate funds flooded in, although participation by retail investors and Adani Enterprises (ADEL.NS) employees remained low. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Reuters GraphicsHindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

[1/5] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir CohenSummarySummary Companies Adani scripts comeback by completing share saleKey $2.5 billion share sale fully subscribed-dataShort-seller's report led to fall in Adani sharesMUMBAI, Jan 31 (Reuters) - Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Hindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

☆ Adani rides out storm as investors rally behind $2.5 billion share sale
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +4 min

But on Tuesday, the overall share sale was fully subscribed as foreign institutional investors and corporates pumped in funds, although participation by retail investors and Adani Enterprises employees remained low. That sparked $65 billion in cumulative losses for stocks of the Adani group, which called the report baseless. The support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. Demand mostly came from foreign institutional investors, as well as corporates who bid in excess of 1 million rupees each, data showed. Adani Transmission closed nearly 4% higher on Tuesday after losing 38% since the Hindenburg report, while Adani Ports and Special Economic Zone climbed 2.6%.

☆ Instant View: Adani's $2.5 billion offer rides out share storm with investor backing
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

COMMENTARYAMBAREESH BALIGA, INDEPENDENT MARKET ANALYST, MUMBAI"The FPO did get subscribed, thanks to a few institutional as well as large family offices. DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI"For Indian markets, one of the concern areas is out of the way for the time being as this was weighing on investor sentiment. Since the current market price is below the offer price, the retail subscription was low as investors can rather buy it from the market." That was their focus area considering the fact that there was a difference between the market price and the floor price of the FPO. It seems that retail investors did not consider the fact that there is more to rates than just the price."

Search resuls for: "of Institutional"

25 mentions found