DIRS.INFO The most relevant business & tech news

☆ And in This Corner, Hailing From Dagestan, Presenting Hasbulla
▼ + stars: | 2023-04-28 | by ( Joseph Bernstein | ) www.nytimes.com time to read: +1 min

game between the Los Angeles Lakers and the Dallas Mavericks on March 17, Hasbulla Magomedov got the full celebrity treatment. He chatted pregame with the Mavericks star Luka Doncic, who posed with him for a photo. When Hasbulla’s face appeared on the Jumbotron, the crowd went wild. And, like everyone who’s anyone, he sat courtside at the Staples Center, with one major difference: He was perched on his friend’s lap. Hasbulla, 20, is a little over three feet tall, and it gave him a better view of the action.

☆ 'Welcome to the recession:' Most of Wall Street still sees trouble ahead for the U.S. economy
▼ + stars: | 2023-04-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

In fact, excluding the drag from inventories, GDP growth actually would have been closer to 3.4%, well above trend. However, most economists and strategists on Wall Street think the U.S. economy is still on the path to recession. We continue to expect the drag from higher interest rates and tightening credit conditions to push the economy into a mild recession soon." Jim Baird, chief investment officer, Plante Moran Financial Advisors "For all the discussion of recession risk – which is very real – consumers remain willing and able to spend. Recession risks remain elevated; the first estimate of Q1 GDP confirms that the economy continues to slow.

☆ A Florida Garden Brings Louis Comfort Tiffany’s Work to Life, in Bloom
▼ + stars: | 2023-04-25 | by ( Joseph B. Treaster | ) www.nytimes.com time to read: +1 min

This article is part of our Museums special section about how art institutions are reaching out to new artists and attracting new audiences. This is not your grandfather’s artist in the garden, not the usual sculptures and paintings simply set among the plants. The garden’s designers call their work horticultural theater, and they go at it as if they were staging a play. The Tiffany exhibition, “Tiffany: The Pursuit of Beauty in Nature,” runs through June 25. Forty-two works by Louis Comfort Tiffany serve as the reference point for the botanical interpretations, which are sprinkled throughout Selby Gardens, a 15-acre oasis on a peninsula jutting into Sarasota Bay.

☆ Analysts are torn on how Fox News' ratings will be affected after Tucker Carlson's ousting craters the company's stock
▼ + stars: | 2023-04-25 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

Tucker Carlson's exit from Fox News wiped $962 million from the network's market value on Monday. But analysts are torn about the long-term impact of the host's ouster on Fox Corp stock. But financial analysts are torn about the impact Carlson's departure will have on Fox Corporation's stock — which lost about $962 million in market value on Monday after news broke of the departure. Matthew Tuttle, the CEO and CIO of Tuttle Capital Management, told Bloomberg that Carlson's exit is "definitely going to leave a mark on Fox." But not all analysts shared the gloomy projection for Fox Corp stock in the long term.

☆ Apple continues to quietly build on its fintech ambitions
▼ + stars: | 2023-04-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In payments, specifically, its made progress via Apple Pay, the Apple Wallet, and the Apple Card. On Monday, Apple took another step deeper into financial services, announcing the launch of a high-yield savings account (4.15%) via its Apple Card. And now, as Goldman tries to salvage what's left of its consumer dreams, Apple continues to roll on. What's not clear, though, is what type of terms Goldman gets for serving as the back-end partner partner. Click here to read more about the top eight executives shaking up payments, including a key leader at Apple Pay.

[1/2] German Foreign Minister Annalena Baerbock speaks during a joint press conference with Chinese Foreign Minister Qin Gang (not pictured) at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSApril 14 (Reuters) - European foreign policy officials sought to present a tough stance against China's threats over self-ruled Taiwan on Friday, after comments by French President Emmanuel Macron drew a backlash for being perceived to be weak. While many of the remarks were not new, the timing of their publication, and their bluntness, annoyed many Western officials. "The European Union's position (on Taiwan) is consistent and clear," Borrell said in his prepared remarks. "President Xi's visit to Moscow has demonstrated that no other country has a bigger influence on Russia than China," said Baerbock.

☆ EU cannot trust China unless it seeks peace in Ukraine -Borrell
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - European Union foreign policy chief Joseph Borrell said it would be hard for Europe to trust China if it did not try to find a political solution to the Ukraine crisis. "Neutrality in the face of the violation of international law is not credible," Borrell said, adding an appeal for Chinese President Xi Jinping to speak to Ukrainian President Volodymyr Zelenskiy and for China to provide more humanitarian aid to the Ukrainian people. Xi has met Russian President Vladimir Putin twice but not spoken with Zelenskiy since Russia invaded Ukraine in what Moscow calls a "special military operation" in February 2022. China stated its opposition to attacks on civilians and on nuclear facilities in position paper on Ukraine published in February, but it has refrained from openly criticising Russia for its actions in Ukraine. Reporting by Yew Lun Tian in Beijing; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Proud Boy tells jury he had no plan to attack U.S. Capitol before Jan. 6
▼ + stars: | 2023-04-12 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +3 min

WASHINGTON, April 12 (Reuters) - A former leader of the far-right Proud Boys testified to a jury on Wednesday that he had no plan to attack the U.S. Capitol before he entered it with hundreds of Donald Trump supporters on Jan. 6, 2021, attempting to overturn his election defeat. "Never did it cross my mind ever to attack the Capitol," Rehl said on Wednesday. A second member of the Proud Boys, Dominic Pezzola, is also expected to testify in his own defense before the trial concludes. Prosecutors allege that Tarrio, Rehl, Nordean and Biggs were part of group called the Ministry of Self Defense, which allegedly helped mobilize the Proud Boys to travel to Washington. Answering questions from his lawyer, Rehl was careful in how he described his decision to enter the Capitol on Jan. 6.

☆ 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.

☆ Buying Help for Over-the-Counter Hearing Aids—Whether You Spend $250 or $2,500
▼ + stars: | 2023-04-08 | by ( Julie Jargon | Photographs Joseph Bui For The Wall Street Journal | ) www.wsj.com time to read: 1 min

New, lower-price hearing aids promise to help people with mild to moderate hearing loss. But when you buy one, how well does it work out? Six months ago, over-the-counter hearing aids began showing up in retail stores and websites following a new rule by the Food and Drug Administration. They offer an attractive alternative to doctor-prescribed hearing aids, which can cost $5,000 or more and come with a deeper commitment.

☆ Legal and finance jobs are among the most at risk from AI, while construction and trade jobs face minimal influence, studies suggest
▼ + stars: | 2023-04-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

While the studies predicted advances in AI tech could also improve labor productivity and create jobs, they said some industries would likely be more affected than others. The researchers used a benchmark that matched specific work tasks with AI capabilities to calculate the results. They estimated that about 46% of work tasks in the sector could be automated. FinanceBanks are already incorporating AI tech into their day-to-day business operations. The Goldman researchers estimated that about 29% of computing and mathematical tasks in the US and Europe could be automated.

☆ Markets and the economy survived a tough first quarter, but it's not going to get any easier
▼ + stars: | 2023-04-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Despite peaks and valleys, stocks closed the first quarter on an up note, with the S & P 500 rallying more than 7% and the tech-fueled Nasdaq soaring about 16%. .SPX .DJI YTD line S & P 500 gains so far in 2023 Indeed, the market has lived through a lifetime of scary headlines in the first three months of 2023. Despite repeated protestations from Fed officials that they are taking the higher-for-longer approach on interest rates, markets still expect cuts. AAPL .SPX YTD mountain Apple compared to the S & P 500 Only five of the 11 S & P 500 sectors are positive for the year, despite the substantial rally for the index. The net profit margin for the S & P 500 also is expected to edge lower to 11.2%.

WASHINGTON, March 30 (Reuters) - The United States and some of its partner countries on Thursday called for strict domestic and international controls to counter the proliferation and misuse of commercial spyware. The countries said they were committed to preventing the export of technology and equipment to end-users who are likely to use them for "malicious cyber activity." The joint statement also said the countries would share information with each other on spyware proliferation and misuse, including to better identify these tools. On Monday, a senior U.S. official said at least 50 U.S. government staffers stationed in 10 countries were targeted with commercial hacking tools. Reporting by Kanishka Singh in Washington; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Sam Bankman-Fried is reportedly paying his lawyers with a 'multi-million dollar gift' to his dad through Alameda
▼ + stars: | 2023-03-29 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's "multi-million dollar gift" to his father is covering legal costs, per Forbes. Bankman-Fried had started Alameda in 2017 and was its CEO until October 2021, according to court filings by federal prosecutors in New York. Bankman-Fried also apparently rejected personal finance advice from his father, who had reportedly "begged his son to put away savings," according to Forbes. In an updated indictment unsealed on Tuesday, they also accused Bankman-Fried of trying to bribe Chinese officials with more than $40 million in payments to "influence" them. A hearing over the updated indictment has been scheduled for March 30 in New York federal court before US District Judge Lewis Kaplan.

☆ AI systems like ChatGPT could impact 300 million full-time jobs worldwide, with administrative and legal roles some of the most at risk, Goldman Sachs report says
▼ + stars: | 2023-03-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Generative AI could lead to "significant disruption" in the labor market, says Goldman Sachs. Researchers at the company estimated that the new tech could impact 300 million full-time jobs. AI systems could also boost global labor productivity and create new jobs, according to the report. The Goldman report highlighted US legal workers and administrative staff as particularly at risk from the new tech. Goldman's report suggested that if generative AI is widely implemented, it could lead to significant labor cost savings and new job creation.

☆ Premarket stocks: Banking chaos could break the strong job market
▼ + stars: | 2023-03-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The job market has remained strong even as the Federal Reserve has spent a full year attempting to cool off the economy by raising interest rates. But economists think that the recent banking turmoil may be what finally raises unemployment. Even with those big job cuts, the labor market in the United States remains white hot. Since the pandemic, regional banks “have provided a vast majority of lending to small firms, underwriting local small business formation,” said Philip Wool, an analyst with asset manager Rayliant. AI will likely lead to job loss, they wrote, but technological innovation that initially displaces workers has historically created employment growth over long haul.

[1/2] A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration/File PhotoWASHINGTON, March 27 (Reuters) - At least 50 U.S. government staffers stationed in 10 countries were targeted with commercial hacking tools, commonly known as spyware, a senior administration official said, highlighting the growing threat by offensive cyber vendors and prompting the White House to introduce rules to hinder the spying. The senior administration official cited Reuters' prior reporting as a reason for the broader internal government review. The new executive order is designed to apply pressure on the secretive industry by placing new restrictions on U.S. government defense, law enforcement and intelligence agencies' purchasing decisions, a senior administration official said. "We needed to have a standard where if we know that a company is selling to a country that is engaged in these outlined activities, that in and of itself is a red flag," said the senior administration official.

☆ Alaska oil drilling protesters disrupt White House climate adviser appearance
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

Companies Conocophillips FollowWASHINGTON, March 20 (Reuters) - Protesters criticizing President Joseph Biden's approval of an oil drilling project in Alaska on Monday blocked an administration official from delivering a speech about U.S. climate leadership. Ali Zaidi, White House climate adviser, was unable to address the event on the "Future of U.S. A dozen protesters holding a sign saying "End Fossil Fuels" chanted: "Keep your promise, no new drilling" for several minutes, preventing Zaidi from starting his remarks. Protesters believe the Willow decision may overshadow Biden's other climate achievements. The administration has been touting climate investments stemming from its signature climate law called the Inflation Reduction Act (IRA)and its bipartisan infrastructure law.

☆ Caroline Ellison made $6 million at Alameda – a fraction of Sam Bankman-Fried's $2.2 billion's haul
▼ + stars: | 2023-03-19 | by ( Pete Syme | Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Caroline Ellison received $6 million by Alameda, according to court documents filed Wednesday. Sam Bankman-Fried transferred himself $2.2 billion, while $587 million went to Nishad Singh. Alameda Research has been accused of using customer deposits from Bankman-Fried's crypto exchange FTX for daily operations, including risky investments. FTX filed for Chapter 11 bankruptcy protection on November 11 after it imploded, wiping out billions in customer deposits. Court documents filed Wednesday show he transferred $2.5 million from Alameda to American Yacht Group in March 2022, with the cited reason "for the benefit of John Samuel Trabucco."

☆ In just a few minutes this week, Powell changed everything on market's view of interest rates
▼ + stars: | 2023-03-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Chair Jerome H. Powell testifies before a House Financial Services hearing on "The Federal Reserve's Semi-Annual Monetary Policy Report" on Capitol Hill in Washington, U.S., March 8, 2023. That changed after Powell's appearance, during which he cautioned that if inflation data remains strong, he expects rates to go "higher than previously anticipated" and possibly at a faster pace than a quarter point at a time. Basically, it was the January inflation data plus signs that the labor market remains remarkably strong despite the Fed's efforts to slow it down. Brusuelas is among those who think the Fed should accelerate its inflation battle with a half-point rate hike. However, he said policymakers could be swayed by a potentially softer jobs report and inflation data next week that reverses course and shows price increases abating.

☆ Proud Boy argues that Tucker Carlson's misleading January 6 footage should be reason to dismiss his seditious-conspiracy case
▼ + stars: | 2023-03-09 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

Tucker Carlson's January 6 footage has been brought up in a January 6 seditious conspiracy trial. Lawyers representing a Proud Boys member asked a federal judge to dismiss his case. He and the co-defendants — Proud Boys Enrique Tarrio, Ethan Nordean, Joseph Biggs and Zachary Rehl — have pleaded not guilty. The lawyers cited the Washington Post's reporting that Albert Watkins, Chansley's lawyer, never saw that footage during his client's case. It's not the first time the Proud Boys members have asked for their case to be dismissed.

☆ New: Det. Joseph Becerra Reopens Murder Case Of Kathie Durst
▼ + stars: | 2023-03-02 | 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 EmailNew: Det. Joseph Becerra Reopens Murder Case Of Kathie DurstDet. Joseph Becerra reopens the notorious murder case of Kathie Durst, and discovers the gilded world of the number one suspect, her husband Robert Durst. Blood & Money premieres Tuesday, March 7 at 10pm ET on CNBC.

Bertino, of Belmont, North Carolina, pleaded guilty last fall to seditious conspiracy charges. The jury on Wednesday was shown messages in which Bertino encouraged Proud Boys at the Capitol to keep pressing and “form a sphere” to advance further on the grounds. In private messages with Tarrio, Bertino expressed elation at the riot, which forced lawmakers to flee and temporarily halted the certification of the election results in the U.S. Congress. The Proud Boys case marks the third seditious conspiracy trial to arise from the Jan. 6, 2021, Capitol riot. In two previous trials, several members of the far-right Oath Keepers, including founder Stewart Rhodes, were convicted on seditious conspiracy charges.

☆ President Joe Biden makes surprise visit to Kyiv just days before one-year anniversary of Ukraine war
▼ + stars: | 2023-02-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden made a surprise visit to Kyiv, Ukraine Monday in a show of solidarity, nearly a year after Russia began its full-scale invasion of the country. Your visit is an extremely important sign of support for all Ukrainians," Ukrainian President Volodymyr Zelensky said on Telegram on Monday. The visit comes after a concerted show of international support from global leaders and politicians during the Munich Security Conference over recent days. On Feb. 18, Biden's second-in-command, Vice President Kamala Harris, announced that Washington had determined that Russia had committed crimes against humanity in Ukraine, upgrading the U.S. administration's March pronouncement that Moscow had committed war crimes. Biden said Monday he will continue on to Poland, where he will meet President Andrzej Duda.

☆ Who are Larry Kramer and Andreas Paepcke — the two people who paid part of Sam Bankman-Fried's bail?
▼ + stars: | 2023-02-19 | by ( Sarah Jackson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +8 min

They are Larry Kramer and Andreas Paepcke, both of whom have ties to Stanford, where SBF's parents work. On Wednesday, unsealed court records identified the FTX founder's bail guarantors as Larry Kramer, a former dean of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford. A screenshot of Larry Kramer's bio on a Stanford Law School web page shows that he's emeritus dean of the institution. from the University of Chicago Law School in 1984, according to his Stanford Law bio page. On his personal page, Paepcke listed hobbies including "piano studies and simple composition, worrying, and poetry."

Search resuls for: "Joseph B"

25 mentions found