DIRS.INFO The most relevant business & tech news

☆ Cluster of Chinese vessels spotted near Russian rig off Vietnam - ship monitors
▼ + stars: | 2023-05-10 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

Strong relations between Russia and China are a major factor supporting global stability, Russian Defence Minister Sergei Shoigu said in March, but the two countries have conflicting interests in the South China Sea. "Chinese fishing and scientific research vessels carry out normal production and work activities in maritime areas under China's jurisdiction," it said. It made similar remarks on Tuesday after Chinese boats approached an area where the navies of India and Southeast Asian countries held exercises. On Wednesday, the Chinese vessels were about 10 nautical miles (18 km) from the Japanese operating rig and about 20 miles from the Russia-Vietnam rig, according to South China Sea Chronicle Initiative (SCSCI), an independent non-profit. The Chinese research vessel moved at full speed before entering Vietnam's EEZ but slowed to 4-5 knots, suggesting the ship was conducting a survey there, said SCSCI's Van Pham.

Don’t expect any major breakthroughs from the White House talks. Republicans want to reduce the country’s $31.4 trillion debt through spending cuts, while the White House views tax increases on companies and wealthy Americans as the best way to reduce the burden. In 2011, the S&P 500 fell when S&P Global, the ratings agency, downgraded the nation’s credit rating a few days after the Obama administration and Republicans reached a deal. This year, investors seem to be betting that lawmakers will reach a last-minute agreement, or at least temporarily lift the debt ceiling (Mr. McHenry didn’t rule this out). Despite a banking crisis and recession fears, the S&P 500 is up 8 percent in 2023.

They were in the Vietnamese Exclusive Economic Zone when the Chinese boats moved towards them, the Indian sources said. Ray Powell, who leads Project Myoushu on the South China Sea at Stanford University, said the boats belong to the Qiong Sansha Yu militia fleet in the area. Such militias consist of commercial fishing boats, which work in coordination with the Chinese authorities for political objectives in the South China Sea. Several of China’s littoral neighbours have accused it of using its official and militia vessels to harass and intimidate their fishing and military boats in the South China Sea. China has for years claimed sovereignty over the entire South China Sea, and has been sensitive to the presence of other militaries in the region.

☆ Yogi Berra on the Field: The Case for Baseball Greatness
▼ + stars: | 2023-05-08 | by ( Lorne Manly | ) www.nytimes.com time to read: +1 min

In the latest edition of Bartlett’s Familiar Quotations, there’s a sports figure who towers over the competition. Among the nine sayings attributed to one Lawrence Peter Berra, the New York Yankees catcher better known as Yogi, are phrases that may seem nonsensical at first, but on further reflection offer wisdom for the ages. “You can observe a lot by watching.”“It was déjà vu all over again.”And of course, there’s “It ain’t over till it’s over,” which provides the title for a new documentary about Yogi’s life. “It Ain’t Over” aims to be a corrective to the caricature implanted in the cultural consciousness of Yogi as an amiable clown, a malaprop-prone catcher who looked as if he were put together with spare parts. But Yogi was not only a cuddly pitchman for insurance, beer and chocolate milk, an inspiration for a certain cartoon bear, and a stand-up guy beloved by teammates; he was, the film argues, one of the best baseball players who ever lived.

PacWest plunges as banking woes spreadThe regional banking sector is teetering again, with PacWest’s stock plummeting more than 35 percent in premarket trading, despite the Fed chair Jay Powell’s assessment that the worst is over. The Los Angeles-based lender confirmed that it was talking to potential investors following reports that it was exploring a sale. Investors may be feeling some déjà vu after witnessing two big bank failures, and billions in market value wiped out, since the collapse of Silicon Valley Bank in March. It’s not just PacWest in free-fall. News of a potential PacWest sale, first reported by Bloomberg — and confirmed by DealBook — came just hours after Mr. Powell declared that the banking system was “sound and resilient.”

☆ Morning Bid: Deja vu for Powell, as bank and debt fears revive
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

Amid so much uncertainty, markets are hopeful that the Fed's current tightening cycle will soon be over. Shares of regional banks were pulverised on Tuesday and sentiment will likely be weak through the week. Also on the minds of investors is the looming deadline for U.S. debt ceiling, with Powell likely to be asked about his contingencies. But as the Reserve Bank of Australia showed us earlier this week, central banks are still capable of surprising the market. Earnings from chip designer Qualcomm later in the day will provide more clues about where the chip market is headed.

☆ It's JPMorgan to the rescue
▼ + stars: | 2023-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

JPMorgan Chase is buying First Republic Bank after it was put into receivership from regulators earlier today. It's the third US bank to fail since March, following Silicon Valley Bank and Signature Bank. The deal represents another chance for JPMorgan Chase CEO Jamie Dimon to come to the rescue. Why its Wall Street rivals could follow suit. Read more on the report in The Wall Street Journal.

☆ Jota seals thrilling win for Liverpool after Tottenham fightback
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +4 min

LIVERPOOL, England, April 30 (Reuters) - Diogo Jota scored deep in stoppage-time as Liverpool clinched a 4-3 victory over Tottenham Hotspur in a barely-believable Premier League thriller at Anfield on Sunday. The Portuguese substitute struck in the fourth minute of added time, one minute after Tottenham substitute Richarlison thought he had earned his side an unlikely point. There was one final twist though as Jota latched on to a mistake by Lucas Moura and fired low past Fraser Forster to spark pandemonium on the touchline. Liverpool manager Juergen Klopp appeared to pull his hamstring as he celebrated manically and was also shown a yellow card in the most bizarre of climaxes. To make matters worse for Tottenham they felt Jota should have been red-carded for an earlier high boot that caught Oliver Skipp's head that was only punished with a yellow.

☆ First Republic teeters on the edge — again
▼ + stars: | 2023-04-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —First Republic Bank’s fate is looking grim. The bank’s stock has plummeted about 75% this week, after a disappointing first-quarter earnings report Monday revived Wall Street’s fears about a banking crisis and catalyzed an exodus out of First Republic stock. About two-thirds of First Republic’s deposits were uninsured with the FDIC when the banking turmoil took hold in March, lower than the 94% at Silicon Valley Bank. But at the end of 2022, First Republic had a whopping ratio of 111% for loans and long-term investments to deposits, according to S&P Global. Déjà vuFirst Republic’s fight for survival comes just over a month after Silicon Valley Bank’s collapse on March 10.

Reuters GraphicsMany U.S. importers are still sanguine, but their supply chains could still be disrupted as Vietnam's apparel makers depend on China for about half of their input materials, according to the country's industry association. XINJIANG LINKSWhile the halted shipments represent a tiny portion of the $27 billion worth of garments and footwear Vietnam exported to the U.S. last year, compliance risks may lead to more painful adjustments for Vietnam. That, in turn, will hit U.S. consumers as Vietnam is their main source of cotton apparel, according to the U.S. Department of Commerce. However Nike has significantly reduced its output of apparel and footwear in Vietnam despite the country remaining its main manufacturing hub, according to its latest annual report updated to May 2022. Two officials from U.S. footwear and apparel industry trade associations said the new rules have had no major impact so far on Vietnam and blamed recent job cuts on lower global demand.

☆ Vietnam EV maker VinFast gets fresh funding pledges of $2.5 bln
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

HANOI, April 26 (Reuters) - Vietnamese electric vehicle maker Vinfast said on Wednesday it has received a fresh round of funding pledges worth $2.5 billion for its future development. Of the pledges, $1 billion will be provided as a grant from its founder Pham Nhat Vuong within the next year, the company said in a statement. Its parent Vingroup (VIC.HM), Vietnam's biggest conglomerate, will provide a grant of $500 million plus a $1 billion loan with maturity of up to five years. The grants and loan will "give a push for Vinfast to accelerate its development," the company said. VinFast first flagged its U.S. IPO in April 2021, aiming to raise $2 billion with valuation of about $60 billion.

☆ CNBC Daily Open: Big Tech surpasses expectations
▼ + stars: | 2023-04-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. First Republic lost almost half its value in a single trading day, dragging down other regional banks. However, Wednesday could look like a very different trading day in the United States. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Chevron Championship: Lilia Vu channels memory of late Grandfather to clinch first major title
▼ + stars: | 2023-04-24 | by ( Jack Bantock | ) edition.cnn.com time to read: +4 min

CNN —Lilia Vu triumphed at the Chevron Championship on Sunday, besting American compatriot Angel Yin in a playoff to seal the first major of her career in The Woodlands, Texas. I’m just really happy and proud of Cole [caddie] and I for doing this.”Vu (R) celebrates her win in the water. Amid bubbling frustrations during a wet and windy final round, it was the memory of her grandfather that kept Vu grounded. Carmen Mandato/Getty ImagesYin upbeatRunner-up Yin was upbeat despite agonizingly missing out on a first career major. “My caddie was telling me to calm down, but other than that, I really just wasn’t really feeling much.

☆ Vu says grandfather's memory an inspiration after major win at Chevron
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

April 23 (Reuters) - Lilia Vu kept the memory of her late grandfather in mind to maintain her composure on Sunday as she collected her maiden major title at the Chevron Championship, the 25-year-old American told reporters. I didn't feel like myself," said Vu, who started the day four strokes back after a disappointing one-over par third round. "I just felt like I was getting angry over every single little thing, and that's usually not how I roll." The win was all the more sweet for Vu after she struggled to keep going during a low point in her career three years ago. I just saw everybody that I've competed with being successful, and I just compared myself all the time," said Vu.

[1/2] A Vietnamese officer tries a weapon at the stalls of Czech security firms, including Colt, at the Vietnam International Defence Expo 2022 in Hanoi, Vietnam, December 8, 2022. REUTERS/Khanh VuHANOI, April 24 (Reuters) - Vietnam is in talks with the Czech Republic for military supplies, including aircraft, radars, upgrades of armoured vehicles and firearms, a Czech government source told Reuters, as Hanoi aims at diversifying its mostly Russian arsenal. Hanoi ordered a dozen L-39NG light-combat aircraft in 2021 from Czech manufacturer Aero Vodochody, with delivery to begin this year. Of the 15 companies that composed the Czech business delegation, four were security firms. The Vietnam foreign ministry and the Czech embassy in Hanoi had no immediate comment.

☆ Vietnam central bank plans loan restructuring for struggling businesses
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

HANOI, April 24 (Reuters) - Vietnam's central bank will restructure loans for some businesses facing difficulties, including delaying loan repayments, the government said, as it seeks to shore up a slowing economy. Several companies in Vietnam, a regional manufacturing hub, have been struggling amid weakening global demand, with exports falling 11.9% in the first quarter of this year. Vietnam's economic growth slowed to 3.32% in the January-March period, against a 5.92% year-on-year expansion in the fourth quarter of 2022. Chinh at a weekend meeting with the central bank also called for commercial banks to cut lending interest rates to support businesses and households. The central bank last month cut several policy rates to support growth amid global uncertainty.

☆ How to put your best travel foot forward for Earth Day 2023
▼ + stars: | 2023-04-22 | by ( Forrest Brown | ) edition.cnn.com time to read: +20 min

But you don’t have to totally cut out travel or stay super close to home to be a good planetary citizen. You need a city that’s dedicated to getting it right to best enjoy an urban biking vacation. Here, we've curated 30 of our favorite corners, including the Thu Bon River, which flows through central Vietnam. A maze of rivers and caves, the UNESCO World Centre is defined by its craggy limestone facades and jade green water. Bruno De Hogues/Photodisc/Getty Images Phong Nha-Ke Bang National Park: A UNESCO World Heritage, Phong Nha-Ke Bang National Park is heaven for spelunkers.

☆ Golfers tackle new test in uncharted Chevron Championship grounds
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

[1/5] Apr 21, 2023; The Woodlands, Texas, USA; Chella Choi (KOR) drives off the first tee during the second round of The Chevron Championship golf tournament. Mandatory Credit: Thomas Shea-USA TODAY SportsApril 21 (Reuters) - Golfers have risen to the varied challenges that the new home of the Chevron Championship in Carlton Woods Texas brought after moving from its longtime home at Mission Country Club in Palm Springs. World number two Nelly Korda overcame a rollercoaster round on what she claimed was a completely different course than the opening round on Thursday. Thailand's Patty Tavatanakit, 2021 Chevron winner, also took advantage of the course conditions posting the best early round of the day by returning a five under-67. It feels like we're not playing The Chevron Championship just because the grass and everything is so East Coast."

☆ Taiwan's Apple supplier Quanta plans Vietnam factory
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: 1 min

HANOI, April 22 (Reuters) - Apple supplier Quanta Computer (2382.TW) plans to set up a factory in northern Vietnam, the Vietnamese government said. The company, a MacBook contract manufacturer, on Friday signed an agreement with the authorities of Nam Dinh province, 90 km (56 miles) south of Hanoi, to construct the facility at an industrial park there, the government said in a statement late on Friday. The facility, which would be Quanta's 9th factory globally, would initially cover an area of 22.5 hectares, the statement said, without giving its capacity nor a time frame for the construction. Local media said on Saturday Quanta would invest $120 million in the factory. Reporting by Khanh Vu; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Opinion | DeSantis Is Letting Trump Humiliate Him
▼ + stars: | 2023-04-21 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

Trump might be easier for Joe Biden to beat, but anyone who gets the Republican nomination has a chance of being elected, and the possibility of another Trump term is intolerable. Ron DeSantis, the Florida governor who was supposed to stop Donald Trump, is deflating before even entering the race, with his poll numbers softening and donors fretting. Trump, meanwhile, seems more buoyed than hindered by his ever-proliferating scandals, and is racking up endorsements at DeSantis’s expense. The ad from the Trump camp is inspired by reporting about DeSantis eating pudding with his fingers on an airplane. “Trump should fight Democrats, not lie about Governor DeSantis,” the ad continues — whining about Trump’s aggression rather than countering it.

☆ Vu at the top of early second round Chevron leaderboard
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

April 21 (Reuters) - Lilia Vu took advantage of soft conditions to move to the top the Chevron Championship leaderboard on Friday after the start of second round play at the year's first women's major was delayed by two hours due to heavy rain. "Really happy to finish today," said American Vu, the world number 12. The round left the American on six-over for the tournament well adrift of the projected one-over cut. Taiwan's Chien, the world's 189th-ranked player, was the surprise leader after round one and among the late starters on Friday along with world number one Lydia Ko. Second round play is expected to spill over into Saturday after more than two inches (5 cm) of rain dropped on the Jack Nicklaus designed layout overnight.

☆ Not the same major splash as Chevron moves to Texas
▼ + stars: | 2023-04-19 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

April 19 (Reuters) - When women's golf crowns its first major winner of the season on Sunday at the Chevron Championship it will not make the same splash it once did. "I'm not really sure," said defending Chevron champion Jennifer Kupcho. "I think there might be snakes in the water here, so might be a little interesting." While a dock can be quickly constructed, it takes years to build traditions and rarely are they transferable. After missing last year's Chevron due to injury, Korda is back to full fitness with four finishes inside the top six in five starts this season, including runner-up at last month's HSBC World Championship.

☆ U.S., Mexico agree on worker rights plan at Mexican auto parts factory
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, March 31 (Reuters) - The U.S. and Mexico on Friday announced an agreement to address a U.S. labor trade complaint at the VU Manufacturing auto parts plant in northern Mexico that requires the firm to allow free association rights for the factory's workers. The U.S. Department of Labor said in a statement the agreement "includes a commitment by VU to create a climate that promotes respect for workers' choice of union representation and is free of interference in union activities to the detriment of the most representative union." Reporting by David Lawder Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Vietnam needs $11.5 bln to expand national fuel storage capacity by 2030
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

HANOI, March 31 (Reuters) - Vietnam would need investment of up to 270 trillion dong ($11.51 billion) to expand its national fuel storage system by 2030, state media reported on Friday, citing a draft plan prepared by the Ministry of Industry and Trade. The investment would raise the country's crude oil and refined fuel storage capacity to 75-80 days of net imports, Dau Tu newspaper reported. The country's current fuel storage capacity stands at 65 days of net imports, state radio broadcaster VOV cited the Minister of Industry and Trade, Nguyen Hong Dien, as saying on Thursday. Most of the investment needed for the plan would come from businesses, Dau Tu reported. ($1 = 23,455 dong)Reporting by Khanh Vu; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "vu"

25 mentions found