DIRS.INFO The most relevant business & tech news

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

☆ Macron comments leave senior Taiwanese official 'puzzled'
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 12 (Reuters) - Comments by French President Emmanuel Macron on Taiwan are puzzling, a senior Taiwanese politician said, wondering whether France's founding ideals of liberty, equality and fraternity are now out of fashion. He also called for the European Union to reduce its dependence on the United States and to become a "third pole" in world affairs alongside Washington and Beijing. Taiwan parliament speaker You Si-kun, writing on Facebook late Tuesday above a screengrab of a report about Macron's comments on Taiwan, questioned the French commitment to freedom. "Are 'liberté, égalité, fraternité' out of fashion?," he wrote, referring to the official French motto of "liberty, equality, fraternity". "The actions of President Macron, a leading international democracy, leave me puzzled."

☆ Analysis: Heroes or villains: Short sellers' role in the U.S. bank crisis
▼ + stars: | 2023-04-09 | by ( Lawrence Delevingne | ) www.reuters.com time to read: +7 min

How much short sellers contributed to the downward spiral reprises the debate about whether so-called shorts are market watchdogs or opportunistic investors who profit from others’ misery. In the case of the banking crisis, a review of data and interviews with short sellers and their critics show, the answer may be both. Some high profile short sellers were later celebrated as making prophetic calls about the U.S. housing market. Even so, interviews and public postings show at least some short sellers had placed bets against regional banks well before the crisis hit. SHORT POSITIONSSuch early short sellers, however, were in the small minority.

☆ Binance's US arm struggles to find bank to take its customers' cash- WSJ
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +1 min

April 8 (Reuters) - The U.S. arm of cryptocurrency exchange Binance is struggling to find a bank to handle its customers' cash after the failure of Signature Bank (SBNY.PK) last month, the Wall Street Journal reported on Saturday, citing people familiar with the matter. Previously, the deposits were sent to either Signature Bank or Silvergate Capital Corp (SI.N), both seen as crypto-friendly banks. However, after both failed, the exchange is rushing to find a new banking partner, according to the report. The company has unsuccessfully tried to establish relationships with Cross River Bank and Customers Bancorp Inc (CUBI.N), the report said, adding that banks are reluctant due to concerns over regulatory risk. Reporting by Akanksha Khushi in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Binance's US arm struggles to find bank to take its customers' cash, Wall Street Journal reports
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +1 min

☆ Senior US lawmaker says doing everything possible to speed up Taiwan arms deliveries
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +3 min

[1/5] Michael McCaul, Chairman of the U.S. House Foreign Affairs Committee, who is leading a delegation of US lawmakers visiting Taiwan, and Taiwan's Parliament Speaker You Si-kun, shake hands during a news conference at the parliament in Taipei, Taiwan April 7, 2023. REUTERS/Carlos Garcia RawlinsTAIPEI, April 7 (Reuters) - A senior U.S. lawmaker said on Friday he was doing everything possible to speed up the delivery of weapons to Taiwan, suggesting other countries that have the arms could sell them onto the island with U.S. government permission. Taiwan has since last year complained of delays to U.S. weapons deliveries, such as Stinger anti-aircraft missiles, as manufacturers turn supplies to Ukraine to support its defence against Russia. "On the weapons issue, I sign off on those deliveries and we are doing everything in our power to expedite this," he said, speaking at Taiwan's parliament where he met its speaker, You Si-kun. While China staged war games around Taiwan in August after then-Speaker Nancy Pelosi visited Taipei its reaction this time has been more muted.

☆ Australia may inadvertently fuel cyber crime, says data theft victim service
▼ + stars: | 2023-04-05 | by ( Byron Kaye | ) www.reuters.com time to read: +4 min

SYDNEY, April 5 (Reuters) - An Australian government-backed service for victims of identity theft blasted a plan to toughen privacy laws amid an explosion of online data theft, saying it would spur compromised companies to pay ransom and invite more hacking. IDCare, a non-profit that helps internet crime victims, said by making it easier for regulators to fine companies for poor data security and failing to criminalise ransom payment, Australia may inadvertently fuel a cyber-crimewave. Canberra raised the maximum fine to A$50 million ($34 million) from A$2.2 million for companies that fail to stop data theft after the first major attack in October, when some 10 million customer accounts at No. DEMAND SPIKESince Australia made it compulsory for companies to report data breaches in 2018, IDCare's submission said community demand for its services had rocketed. ($1 = 1.4806 Australian dollars)Reporting by Byron Kaye; Editing by Praveen Menon and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Scheffler gets late Masters tee time, LIV Golf players separated
▼ + stars: | 2023-04-04 | by ( Frank Pingue | ) www.reuters.com time to read: +2 min

World number one Scheffler, bidding to become the fourth player to repeat as Masters champion, will go out in the third-last group at 1:36 p.m. Australian Smith, one of 18 players from the Saudi-backed LIV Golf circuit in the field at Augusta National, will set off at 10:54 a.m. ET in the company of 2021 Masters winner Matsuyama on Japan and South Korea's Im Sung-jae. Among other notable LIV Golf players at the year's first major, three-times Masters champion Phil Mickelson will play alongside fellow American Tom Hoge and South Korea's Kim Si-woo. Dustin Johnson, who won the 2020 Masters before making the move to LIV Golf last year, will tee off with Canada's Corey Conners and England's Justin Rose.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Tesla, Macy's, Netflix, Sunnova, Intel & more
▼ + stars: | 2023-04-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley initiates Sunnova as overweight Morgan Stanley said it sees 124% upside for the solar company. " Morgan Stanley downgrades First Solar to underweight from equal weight Morgan Stanley downgraded the stock mainly on valuation. Bank of America adds Lowe's to the US 1 list Bank of America added the home improvement giant to its top ideas list. Bank of America names Netflix a top second-quarter pick Bank of America said it's bullish on the streaming giant as the second quarter begins. Morgan Stanley downgrades Marqeta to equal weight from overweight Morgan Stanley said in its downgrade of the card payment and solutions company that it sees too many negative catalysts. "

☆ How an OnlyFans creator who makes over $73,000 per month promotes her business, from hiring an airplane banner to launching an OFTV show
▼ + stars: | 2023-04-03 | by ( Nhari Djan | ) www.businessinsider.com time to read: +5 min

Take OnlyFans creator Steph Mi as an example: In November, she launched an airplane banner over a Phillies baseball game with the her OnlyFans link, "ONLYFANS.COM/STEPHMI." This March, she had around 50,000 subscribers and made $73,000 in the month after OnlyFans took its 20% cut. Through OnlyFans, Mi has built a loyal following that she calls the ArMi, who she often connects with using the OnlyFans livestreaming feature. The Super VIP experience is the highest tier price on Mi's OnlyFans, and costs around $1,500 to $2,500 per month, though she adjusts her prices each month depending on her subscriber growth. "My mother would always call me — she lives in Korea — and talk about her golf day, and I just felt like there was a disconnect," she said.

☆ Air India's plans to modernise under new owner Tata
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +3 min

2022June 15 - Campbell Wilson, the New Zealand-born former CEO of Singapore Airlines (SIAL.SI) budget offshoot Scoot takes over as Air India CEO. July 4 - Air India signs a deal to adopt Amadeus IT Group's (AMA.MC) Altea software, including for revenue management. Nov. 2 - Air India completes a deal to acquire 100% of AirAsia India and begins to integrate it with Air India Express as part of a broader restructuring of Tata's airline business. Nov. 29 - Tata says it will merge Air India with Vistara, its joint venture with Singapore Airlines. Feb. 13 - Air India resumes non-stop service between Mumbai and New York, weeks after the launch of non-stop Mumbai-San Francisco.

[1/2] An Air India Airbus A320neo passenger plane moves on the runway after landing at Sardar Vallabhbhai Patel International Airport, in Ahmedabad, India, October 22, 2021. In another sign of the formerly government-owned carrier's whirlwind transformation under its new owner Tata Group, Air India is testing ChatGPT, OpenAI's popular chatbot, to replace paper-based practices. Air India is not only reworking every aspect of operations - from systems to supply chains - but integrating four Tata-related airlines, with Air India due to merge with Vistara while low-cost Air India Express and AirAsia India also converge. Airline mergers in India have had little success with Air India still hobbled by the botched integration of Indian Airlines in 2007. Air India's planes are already a mix of Airbus (AIR.PA) and Boeing (BA.N) jets with multiple cabin configurations.

[1/2] Horizon Quantum Computing Chief Science Officer Si-Hui Tan and Chief Executive Officer Joe Fitzsimons sit in front of their white board in Singapore in this handout photo taken November 2021. Courtesy Horizon Quantum Computing/Handout via REUTERSOAKLAND, Calif March 31 (Reuters) - Singapore-based software startup Horizon Quantum Computing on Friday said it raised $18.1 million to expand its engineering team and speed up product development. The company, founded in 2018, created a programming language called Helium for quantum computers, designed to make it easier to tackle complex problems. Quantum computers, based on quantum physics, could potentially perform some calculations millions of times faster than the current fastest super computers. Horizon Quantum Computing said it is also planning to open its first European offices in Ireland, where it is building its new engineering center.

☆ TenneT awards $25 bln in contracts to build North Sea-to-shore connections
▼ + stars: | 2023-03-30 | by ( Tosterling Muhammed Husain | Muhammed Husain | ) www.reuters.com time to read: +2 min

AMSTERDAM, March 30 (Reuters) - Dutch state-owned electric grid company TenneT (IPO-TTH.AS) has awarded 11 contracts worth a combined 23 billion euros ($25 billion) to build systems connecting wind farms in the North Sea to shore, it said on Thursday. The contracts are being awarded to consortia led by Hitachi Energy and by General Electric, and caused shares in Petrofac (PFC.L), part of the Hitachi group, to spike as much as 73%. TenneT is spending tens of billions of euros over the next decade to connect North Sea wind farms to the electric grid in Germany and the Netherlands. The other consortium of Hitachi Energy (6501.T) and London-based Petrofac Ltd said it had signed a 13 billion euro agreement for six projects. The Dutch and German governments are in talks for Germany to buy TenneT's German operations in light of the company's massive investment needs, estimated at over 100 billion euros in the coming decade.

☆ Kakao's stake in K-pop agency SM climbs to 40%, HYBE retains 8.8%
▼ + stars: | 2023-03-28 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

SEOUL, March 28 (Reuters) - South Korean social media giant Kakao's stake in K-pop agency SM Entertainment (041510.KQ) has reached 40%, the target said on Tuesday, in a deal that has left former bidder HYBE (352820.KS) stuck with more than half of its stake in SM. But Kakao's tender offer for a 35% stake at 150,000 won per share attracted acceptances for more than double the targeted stake, forcing it to scale back allotments in proportion. HYBE said it was left with an 8.81% stake in SM. Kim Hyun-yong, an analyst at Hyundai Motor Securities, said maintaining the remaining stake in SM could help HYBE contain Kakao in the long run. HYBE plans a substantial number of acquisitions and investments this year as the K-pop giant looks to boost its U.S. presence, its chairman Bang Si-hyuk said this month.

☆ China travel rebound bets turn toward airports, away from airlines
▼ + stars: | 2023-03-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"We are optimistic on a rebound in regional and international travel and continue to get exposure through airports and airplane leasing." Shares of Air China, China Eastern and China Southern have gained between 7% to 17% in the past four months, with Air China and China Southern trading above their 5-year average forward earnings, according to Refinitiv data. Airports under perform AirlinesIn the battle for Chinese travelers, local airlines are expected to fare better than regional airlines such as Qantas (QAN.AX), Singapore Airlines (SIAL.SI) and Cathay Pacific (0293.HK), mainly because Chinese airlines kept more widebody planes and staff ready. All three Chinese airlines are expected to swing to profit in 2023 after reporting big losses last year, according to Refinitiv data. Analysts expect Chinese airlines will see profits peak next year as international traffic makes a fuller rebound.

☆ Credit Suisse hires Southeast Asia wealth vice chairman
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

Sydney, March 23 (Reuters) - Credit Suisse (CSGN.S) said on Thursday it has hired private banker Kwong Kin Mun as its new vice chairman for Southeast Asia wealth management. Swiss regulators said it was necessary authorities took action as there was a risk Credit Suisse could have become "illiquid, even if it remained solvent" after a tumultuous period in which the share price tanked and deposits fell sharply. In a statement from the investment bank, Kwong said "the sparks from the merger of two global leaders in wealth management will create enormous potential for clients and private bankers." The UBS takeover is likely to result in major job cuts at Credit Suisse and the Swiss Bank Employees Association said on Monday staff reductions should be kept to a minimum. ($1 = 0.9169 Swiss francs)Reporting by Scott Murdoch in Sydney; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Here are Tuesday's biggest analyst calls: Apple, Meta, Harley-Davidson, Exxon, Amazon, Roblox & more
▼ + stars: | 2023-03-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley upgrades Meta to overweight from equal weight Morgan Stanley said it sees a more "structurally" disciplined company. " Morgan Stanley upgrades Emerson Electric to overweight from neutral Morgan Stanley said shares of the multinational tech company are too attractive to ignore. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Microsoft is a long-term threat to Apple that's worth watching. Morgan Stanley upgrades Harley-Davidson to overweight from equal weight Morgan Stanley said the stock is attractive at current levels. Morgan Stanley reiterates Exxon as overweight Morgan Stanley said it likes the oil and gas giant's robust "competitive positioning."

☆ Coinbase halts support for Signature Bank's digital payments platform
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] A person walks into the lobby of the Signature Bank headquarters, in New York City, U.S., March 13, 2023. REUTERS/David 'Dee' DelgadoMarch 20 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) said on Monday it has stopped support for Signature Bank's (SBNY.O) digital payments platform Signet, more than a week after U.S. regulators took control of the bank. Coinbase's users who relied on Signet will not be able to transact outside of traditional banking hours, the exchange said. New York-based Signature was one of two major U.S. banks that collapsed earlier this month, triggering market turmoil on a scale similar to the global financial crisis 15 years ago. On Sunday, a unit of New York Community Bancorp (NYCB.N) entered into an agreement with U.S. regulators to buy deposits and loans from Signature Bank.

Many of the regional banks have also said that their deposit base has stabilized. "The regional banks have come under pressure because they are less equipped to handle a withdrawal of deposits the way the big banks are," said Mark Chandler, chief market strategist at Bannockburn Global Forex in New York. In a move of solidarity, most of the major banks agreed on Thursday to deposit $30 billion in First Republic. At least four U.S. lawmakers said on Sunday they would consider whether a higher federal insurance limit on bank deposits than the current $250,000 threshold was needed to inspire more confidence in the system. Buffett has yet to prop up any of the regional banks.

☆ These stocks are table-pounding buys as bank fears linger, analysts say
▼ + stars: | 2023-03-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wall Street analysts unveiled a slew of must-own stocks this week even as bank and macroeconomic worries permeate the market. While some investors might be distracted by the ongoing financial turmoil, analysts say there are plenty of quality buying opportunities. They include: TrueCar, Apple, Progressive, Academy Sports and Prosperity Bancshares. Apple Morgan Stanley is doubling down on Apple shares. Apple shares are up almost 20% since the start of the year.

It would help organize a $2.25 billion stock sale for SVB to fill the funding gap caused by the bond portfolio sale, two of the sources said. It is unclear whether Goldman has held onto all or part of the bond portfolio or sold it. In a regulatory filing on Tuesday, SVB said its bond portfolio sales to Goldman were done at "negotiated prices". Goldman was not paid the underwriting fee it had agreed for the stock sale because that deal fell through, two of the sources said. UNDISCLOSED ROLESVB did not disclose in its stock sale prospectus to investors that Goldman was the acquirer of the bond portfolio it sold at a loss.

☆ BTS agency HYBE seeks U.S. deals after withdrawing bid for SM Entertainment
▼ + stars: | 2023-03-15 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

[1/2] Members of K-pop boy band BTS pose for photographs during a news conference promoting their new album "BE(Deluxe Edition)" in Seoul, South Korea, November 20, 2020. The company's efforts to expand its portfolio of music labels and fan community platforms come after HYBE on Sunday withdrew its plan to take over rival label SM Entertainment (041510.KQ) after a weeks-long battle with social media giant Kakao (035720.KS). HYBE owns multiple subsidiary labels and management companies including Ithaca Holdings, boasting a range of artists including BTS, Ariana Grande and Justin Bieber. The slowdown was largely, but not exclusively, due to the absence of BTS, who are currently on a break as a group, he said. Bang declined to comment on details of a new partnership deal with Kakao Entertainment on fan platform businesses, but added he was "personally satisfied" with the arrangement despite losing the bid to acquire SM Entertainment.

☆ Crypto group DCG seeks new partners for portfolio firms amid SVB collapse - CoinDesk
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Crypto conglomerate Digital Currency Group (DCG) is looking to find new banking partners for portfolio companies following the collapse of Silicon Valley Bank (SIVB.O), Signature Bank (SBNY.O) and Silvergate (SI.N), CoinDesk reported on Tuesday, citing messages viewed by the outlet. Santander (SAN.MC), HSBC (HSBA.L) and Deutsche Bank (DBKGn.DE) are still willing to connect with crypto firms, CoinDesk said, after recent banking failures in the United States left crypto firms and tech startups stranded and hunting for new banking partners. DCG has also reached out to BlackRock (BLK.N), JPMorgan (JPM.N) and Bank of America (BAC.N), the report added. Banks may restrict some services for crypto firms, such as brokerage and money market services and the ability to wire money to third parties, according to the messages seen by CoinDesk. Traditional banks may set up banking accounts for crypto firms, but would place restrictions based on the level of crypto exposure, the report added.

☆ Coinbase opens local bank transfers for Singapore users at no cost
▼ + stars: | 2023-03-15 | by ( Rae Wee | ) www.reuters.com time to read: +1 min

Transfers, in Singapore dollars, are facilitated by a traditional bank, Standard Chartered (STAN.L), and carry no fee, the company said in a statement. Previously, users could only purchase crypto via a Visa or Mastercard debit or credit card, or transfer crypto in and out of their Coinbase account. Coinbase, which last year received in-principle approval from the Monetary Authority of Singapore (MAS) to offer payment services in the city-state, is looking to ramp up its Singapore retail offerings, said Ahmed. Singapore has generally welcomed crypto businesses but has been wary of encouraging retail involvement. Coinbase's announcement also comes with confidence in crypto fragile as the fallout from the spectacular collapse of crypto exchange FTX continues to reverberate through markets.

Search resuls for: "sí"

25 mentions found