DIRS.INFO The most relevant business & tech news

☆ China says Myanmar's sovereignty should be respected
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 2 (Reuters) - China supports Myanmar in finding its own path to development and urges the international community to respect its sovereignty and help it achieve peace and reconciliation, China's foreign ministry said on Wednesday. "China supports Myanmar in exploring a development path with Myanmar characteristics that suits to its national conditions," Qin's ministry cited him as saying in the talks. The international community should respect Myanmar's sovereignty and play a constructive role in helping it achieve peace and reconciliation, he said. On economic development, Qin said China would accelerate investment linked to a China-Myanmar Economic Corridor and implement projects on agriculture, education and health care. China also supported Myanmar on improving its relations with its western neighbour, Bangladesh, the Chinese foreign minister said.

☆ Analysis: Bank failures and looming debt default test American confidence in the economy
▼ + stars: | 2023-05-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

CNN —Two converging crises are testing American confidence in their financial well-being. And there’s a debt crisis, which is becoming more urgent as the US approaches the “X-date” – when it would default – and on which opposing lawmakers aren’t currently talking to each other. First Republic Bank was taken over by the Federal Deposit Insurance Corporation on Monday, and most of its assets were sold to JPMorgan Chase. Maintaining confidenceNone of that means this is a golden chapter for the American financial system. Now, the debt crisis and the X-dateIf only American lawmakers could take a cue from the First Republic saga and get into a room to solve the debt crisis.

☆ Myanmar's neighbours, some ASEAN members hold secretive talks on crisis - sources
▼ + stars: | 2023-04-26 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +3 min

BANGKOK, April 26 (Reuters) - Government and think-tank representatives from Myanmar and its neighbours, including India and China, held talks in New Delhi on Tuesday as part of a secretive effort to de-escalate a bloody crisis in the army-run Southeast Asian nation, two sources said. One of the sources said participants were interested in bringing into the process Myanmar's shadow National Unity Government (NUG), an organisation affiliated with the resistance and declared "terrorists" by the junta. "The neighbouring countries' perspective needs to be taken into account," said the source, "For them, the foremost priority is the de-escalation of the violence." ASEAN has barred the junta from attending until they implement the plan, which has infuriated the generals. "This effort will not supplant ASEAN," the second source said of the ongoing talks, "This will only complement."

☆ Paul Krugman warns a US debt default would mean economic disaster. Here are 3 things Biden can do if lawmakers fail to strike a deal.
▼ + stars: | 2023-04-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

A US default cause be failure to raise the debt ceiling would bring on disaster, Paul Krugman said. Krugman listed three options for the Biden administration to avoid a default if lawmakers don't raise the ceiling. On Monday, Speaker Kevin McCarthy said the House would vote on a bill to lift the debt ceiling until 2024, though he didn't specify what would be included. Mint a $3 trillion platinum coin: The Treasury Department has the authority to mint commemorative coins. Krugman said this is a way to borrow money without technically adding to the national debt burden.

☆ Myanmar Supreme Court to hear appeal of jailed former leader Suu Kyi
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

April 19 (Reuters) - The Supreme Court in military-ruled Myanmar will hear an appeal by deposed leader Aung San Suu Kyi against her convictions for corruption and violating election and state secrets laws, according to a source familiar with the matter. The 77-year-old Nobel laureate is serving 33 years in prison after convictions in more than a dozen cases that Suu Kyi has called absurd and her allies say were orchestrated by the junta to destroy her political career. The source, who declined to be identified due to the sensitivity of matter, said no date had been set by the Supreme Court to hear the appeal of Suu Kyi and co-defendant Win Myint, the ousted former president. The popular, Oxford-educated Suu Kyi has spent much of her political life detained under military governments and is currently being held in an annex of a prison in the capital Naypyitaw. Reporting by Reuters Staff; Writing by Martin Petty; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ Dalai Lama 'unfairly labelled' over tongue video - Tibet govt-in-exile
▼ + stars: | 2023-04-13 | by ( Rupam Jain | ) www.reuters.com time to read: +2 min

[1/2] Tibetan spiritual leader the Dalai Lama, Patron of Children in Crossfire, speaks during a press conference in Londonderry, Northern Ireland September 11, 2017. REUTERS/Clodagh Kilcoyne/File PhotoNEW DELHI, April 13 (Reuters) - The head of Tibet's government-in-exile on Thursday defended the Dalai Lama over footage of him asking a boy to suck his tongue, saying the incident had demonstrated the country's spiritual leader's innocent and affectionate side. Penpa Tsering, the Sikyong (political leader) of the exiled Central Tibetan Administration, said the Dalai Lama had been "unfairly labelled with all kinds of names that really hurt the sentiment of all his followers". The video clip, filmed in February and circulated this month, has been viewed over one million times on Twitter. The Dalai Lama fled to India in 1959 after a failed uprising against Chinese rule in Tibet.

☆ Myanmar junta says military carried out deadly attack on rebel ceremony
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +3 min

At least 50 people, including children, were killed in Tuesday's air strike in the Sagaing area in northwest Myanmar, according to media reports. Junta spokesman Zaw Min Tun told military broadcast channel Myawaddy the attack on the ceremony held by the National Unity Government (NUG), a shadow administration, for their armed People's Defence Force was aimed at restoring peace and stability in the region. They are the ones opposing the government of the country, the people of the country," said Zaw Min Tun. Kyaw Zaw, a spokesman for the NUG, said it believed nearly 100 people were killed in the Tuesday attack when air force jets dropped bombs on villagers and military attack helicopters then followed up, calling it "another senseless, barbaric, brutal attack by the military". The military has ruled Myanmar for most of the past 60 years saying it is the only institution capable of holding the diverse country together.

☆ Nobel economist Paul Krugman says this is the best job market in decades, and the Fed doesn't need high unemployment to bring down inflation
▼ + stars: | 2023-04-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed doesn't need to raise unemployment to lower inflation, Paul Krugman said. That suggests the labor market is sustainable, though Fed Chair Jerome Powell has said otherwise. Central bankers raised interest rates over 1,700% in the past year to tame inflation and rein in economic growth. Fed Chair Jerome Powell has said rates will likely need to stay elevated until the labor market cools. But inflation measures have been cooling without a rise in unemployment, Krugman said.

☆ Dalai Lama Apologizes After Video of Kiss With Boy at Public Event Stirs Criticism Online
▼ + stars: | 2023-04-10 | by ( Austin Ramzy | ) www.wsj.com time to read: 1 min

The Dalai Lama is a widely recognized religious teacher and Nobel Peace Prize laureate. HONG KONG—The Dalai Lama apologized on Monday for an encounter during a public talk with a boy who he kissed and told to “suck on my tongue.”Video of the February event circulated online recently in India, where the exiled Tibetan spiritual leader lives, and beyond, spurring criticism on social media.

☆ Dalai Lama apologises after video asking boy to 'suck my tongue'
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, April 10 (Reuters) - The Dalai Lama, the Tibetans' 87-year-old spiritual leader, apologised on Monday after footage showed him asking a young boy to "suck my tongue" at a public event. "A video clip has been circulating that shows a recent meeting when a young boy asked his Holiness the Dalai Lama if he could give him a hug," said a statement on the exiled leader's Twitter account, which has 19 million followers. The statement said the Dalai Lama leader "often teases people he meets in an innocent and playful way, even in public and before cameras. The Dalai Lama, who fled to India in 1959 after a failed uprising against Chinese rule in Tibet, is regarded by Beijing as a dangerous separatist. Reporting by Shivam Patel in New Delhi, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Don't expect ChatGPT to transform the US economy in the next decade, Nobel laureate Paul Krugman says
▼ + stars: | 2023-04-03 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Artificial intelligence likely won't transform the US economy in the next decade, Paul Krugman said. "ChatGPT and whatever follows are probably an economic story for the 2030s," he said in a NYT op-ed. Krugman has noted ChatGPT could boost labor productivity by doing some jobs better than humans. "ChatGPT and whatever follows are probably an economic story for the 2030s, not for the next few years," he continued, referring to the buzzy artificial-intelligence tool. "On the second, history suggests that large economic effects from AI will take longer to materialize than many people currently seem to expect," Krugman said.

☆ Don't be fooled by these 9 common money myths, finance gurus say
▼ + stars: | 2023-04-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

CNBC polled eight personal finance experts to help answer one question: What are the biggest money myths out there for consumers? Dealers therefore can have an incentive to charge a higher rate because they will also make more money, she said. Myth #3: Financial 'advice' always has your best interests at heartThere's a misconception that every financial advisor is a "fiduciary," said George Kinder, who pioneered the "life planning" branch of financial advice. "Although households and regulators remain concerned about the cost of financial advice, it's the absence of holistic financial advice that turns out to be so expensive," he said. There are many different fee models for financial advice, and the cost doesn't have to be significant: Many advisors have hourly or project rates, for example.

☆ Myanmar junta dissolves Suu Kyi's party as election deadline passes
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] Myanmar State Counselor Aung San Suu Kyi attends the opening session of the 31st ASEAN Summit in Manila, Philippines, November 13, 2017. "It doesn't matter whether they say our party is dissolved or not. The shadow National Unity Government (NUG), which the junta has declared "terrorists", said the military had no authority to hold what would be a sham election. The election would return Myanmar to the quasi-civilian democratic system that experts say the military can control with the NLD out of the picture. Richard Horsey, senior adviser to the International Crisis Group, said the election was dangerous for the country.

☆ At least 22 people killed in suspected massacre at Myanmar monastery
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +4 min

[1/2] Soldiers stand next to military vehicles as people gather to protest against the military coup, in Yangon, Myanmar, February 15, 2021. A spokesman for the KNDF said its soldiers entered Nan Neint on Sunday and found dead bodies scattered at a Buddhist monastery. Video and photographs provided by the KNDF and another group, the Karenni Revolution Union (KRU), showed bullet wounds to the torso and heads of the dead bodies and bullet holes in the walls of the monastery. "Since all the dead bodies were found within the compound of Nan Nein monastery, it is evident that this was a massacre." At least 3,137 people have been killed in the military crackdown since the coup, according to the non-profit Assistance Association for Political Prisoners.

☆ Why our brains are hard-wired for bank runs like those that toppled SVB, Signature
▼ + stars: | 2023-03-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Rebecca Noble | AFP | Getty ImagesCustomer fear became a self-fulfilling prophecyOur brains are hard-wired for a bank run. Last week, bank customers saw their peers run for the exits; sensing danger, that herd mentality meant they also rushed to withdraw their cash. More from Personal Finance:What small businesses should look for when choosing a bankWhat Signature Bank, Silicon Valley Bank failures mean for consumers and investorsWhat to know about FDIC insuranceWhy the bank run on SVB seemed 'rational' for someThere are firewalls against this kind of behavior. The Federal Deposit Insurance Corporation, or FDIC, backstops bank customers' savings up to $250,000. "If you don't rationally understand the way the market interprets signals, you can make a mistake like Silicon Valley Bank," Shefrin said.

☆ Supercore inflation: Why the Fed suddenly cares about your barbershop and plumbing bills
▼ + stars: | 2023-03-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

Hence, supercore inflation equals the inflation of a basket of goods and services, minus the food and energy inflation, and minus the housing inflation. This ultra-focussed lens is what makes the set of prices in the inflation measure "supercore." supercore inflation, "may be the most important category for understanding the future evolution of core inflation," Fed Chair Jerome Powell said in November. "Traditionally, the Fed focused on core inflation because the components were deemed to be less volatile — and by extension, transitory. Not all economists think supercore inflation is all it's hyped up to beBut not all economists are convinced about the focus on supercore inflation.

☆ Smuggled note exposes violence against women in Myanmar jail - lawyers, activists
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +7 min

The junta has previously denied holding political prisoners, saying people in jail broke the law and were sentenced after due legal process. "During that incident, more than 100 female political prisoners were seriously injured including a broken arm, eye injuries and facial bruises," the note said. The activists, lawyers and family members interviewed by Reuters asked not to be identified for fear of repercussions as they are working inside Myanmar. "As these people are women prisoners, they have to be handled by women prison guards. The anti-junta group and two Mandalay-based lawyers who work with political prisoners said those involved in the violence were also denied medical care.

☆ Nobel laureate Paul Krugman is baffled again - he can't tell if the job market is cooling or not and doubts the Fed's next move matters much
▼ + stars: | 2023-03-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

The Nobel Prize-winning economist said he can't gauge whether the labor market is tight or not. Meanwhile, Krugman doubts the Fed's next interest-rate move to cool a hot economy will matter much. So the labor market either isn't cooling or it is," the Prize-winning economist said in a Wednesday tweet. A hot labor market tends to fuel inflation, as it puts upward pressure on wage growth. What matters are market expectations about future Fed policy, which will largely be driven by data," Krugman said.

☆ The Most Soothing ‘Vacation’ You’ll Take in 2023 Is Only 20 Minutes Long
▼ + stars: | 2023-03-05 | by ( Donna Bulseco | ) www.wsj.com time to read: 1 min

The poet’s palm garden is one of the finest in the world, with over 2,740 palm varieties, representing 400 taxonomic species. Merwin—a future U.S. poet laureate—bought a parcel of land in Ha’iku, on the northeast coast of Maui, Hawaii. Stripped of nutrients by farmers trying (and failing) to grow pineapples, the volcanic-clay topsoil was gone. But the poet and his wife as of 1983, Paula, built a house and went about nurturing the nearly 19 acres back to life. Today, the fruits of their labors—a rustling, sprawling garden of uncommon palms—offer succor to travelers who can wend its paths in real life or via their laptop screens.

☆ Nobel Laureate and Activist Ales Bialiatski Sentenced to 10 Years in Belarusian Prison
▼ + stars: | 2023-03-03 | by ( Ann M. Simmons | ) www.wsj.com time to read: 1 min

Ales Bialiatski in the defendants’ cage during a courtroom hearing in Minsk, Belarus. A court in Belarus sentenced Nobel Peace Prize winner and human rights activist Ales Bialiatski to 10 years in prison, the latest effort in a campaign to silence critics of the country’s authoritarian ruler President Alexander Lukashenko . A court in the Belarusian capital of Minsk ruled Friday that Mr. Bialiatski and three co-defendants were guilty of smuggling, organizing and financing public protests and other crimes, senior prosecutor Aleksandr Korol told Belarusian state television.

☆ Factbox: Who is Belarusian Nobel laureate Ales Bialiatski?
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

He denied the charges, which he and other human rights activists called politically motivated. NOBEL PRIZEBialiatski, 60, won the 2022 Nobel Peace Prize together with Russian human rights organisation Memorial and Ukrainian human rights organisation Center for Civil Liberties. Fellow human rights campaigners portray him as a symbol of resistance to oppression in Belarus and globally. During mass opposition protests in 1996, he co-founded the Viasna human rights organisation with the aim of providing financial and legal assistance to political prisoners and their families. After initially working as a schoolteacher, he went on to become a scholar of Belarusian literature and museum director.

☆ U.S. Commerce to ask companies seeking chips funding to provide childcare for employees
▼ + stars: | 2023-02-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 27 (Reuters) - The U.S. Commerce Department said on Monday it plans to ask companies seeking at least $150 million in funding from a $52 billion semiconductor law to submit a plan for how they will provide affordable childcare for their workers. Commerce cited data that a lack of affordable and accessible childcare "is one of the largest constraints keeping Americans - and especially women" - out of the labor workforce in making the case that companies getting chips funding should show how they will provide affordable childcare. The provision that companies receiving CHIPS money provide childcare for workers is an important component." On Tuesday, the Commerce Department will release the first funding opportunity. Commerce said last year chips companies awards will be "no larger than is necessary to ensure the project happens here in the United States" and will discourage "race-to-the-bottom subsidy competitions between states and localities."

☆ Nobel laureate Paul Krugman sees only a 25% chance of a US recession
▼ + stars: | 2023-02-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Paul Krugman predicts stubborn inflation will lead to higher interest rates for longer. The Nobel Prize-winning economist puts the risk of a US recession at 25%. "Fed rate hikes are not slowing things down the way that people expected they would," the Nobel Prize-winning economist said during a recent question-and-answer session hosted by Macmillan Learning. Krugman said he supports further rate hikes, as the inflation threat hasn't yet receded. "I don't think we're going to have one," he said, putting the probability of a US recession at 25%.

☆ Was the poet poisoned? Chile awaits new report on Neruda’s death
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

[1/4] A picture of Chilean poet and Nobel laureate Pablo Neruda is seen inside his museum house in the coastal sector of Isla Negra, Chile, April 26, 2016. REUTERS/Rodrigo GarridoFeb 15 (Reuters) - A third inquiry into the death of Chilean poet Pablo Neruda 50 years ago could shed new light on whether he was poisoned by political enemies, as alleged by some of his family. Rodolfo Reyes, a Neruda nephew, reiterated this week claims that his uncle - a member of the Communist party and the most important Chilean intellectual of the time - was poisoned. Previous tests have found no evidence Neruda, winner of the Nobel Prize for literature in 1971, was poisoned. Reporting by Fabian Andrés Cambero; Writing by Isabel Woodford; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Mysterious flying objects across the US probably aren't aliens, but experts believe life is out there. Here are 13 reasons why we haven't made contact yet.
▼ + stars: | 2023-02-13 | by ( Aylin Woodward | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: 1 min

Even if intelligent aliens aren't flying overhead, though, many experts believe they're out there. Nobel Physics Laureate Didier Queloz speaks during a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden. Jonas Ekstromer /TT News Agency via AP"I can't believe we are the only living entity in the whole universe. Queloz had just won the Nobel prize in physics for his discovery of the first exoplanet orbiting a sun-like star. He said that his work has led him to become "absolutely convinced" that humans will detect alien life in the next 100 years.

Search resuls for: "Laureate"

25 mentions found