DIRS.INFO The most relevant business & tech news

☆ U.S.-China relations are going downhill with ‘no trust’ on either side, Stephen Roach says
▼ + stars: | 2023-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

US President Joe Biden and China's President Xi Jinping (L) shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. "Right now, there is no trust," he told "Squawk Box Asia" on Tuesday, who is currently attending the China Development Forum in Beijing. watch now"The balloon was a spark that really put us on a swift downhill descent," Roach added. The office did not provide details of her itinerary while in the U.S. On Taiwan, China has repeatedly said the issue is an internal affair. Every single Taiwan president in recent memory has done this," White House National Security Council spokesman John Kirby, said at a press briefing last week.

☆ Alibaba founder Jack Ma's return to China was 'well orchestrated,' says Stephen Roach
▼ + stars: | 2023-03-28 | 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 EmailAlibaba founder Jack Ma's return to China was 'well orchestrated,' says Stephen RoachStephen Roach, a senior fellow at Yale University, says it fits with the "government's campaign" to demonstrate that it is relaxing pressures on the private sector both internationally and domestically.

☆ The latest US bank crisis is opening doors for China to assert global ascendancy, Yale economist says
▼ + stars: | 2023-03-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Volatility in the US banking system is an opportunity for China, Yale's Stephen Roach said. "A rising China is taking dead aim at crisis-prone America," Roach said. "A rising China could hardly ask for more." "That's precisely the point of the increasingly worrisome interplay between another US-made financial shock and a sharply escalating Sino-American cold war. A rising China is taking dead aim at crisis-prone America," Roach warned.

☆ Stock futures are flat following Monday's relief rally: Live updates
▼ + stars: | 2023-03-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures held steady in overnight trading Monday after the market staged a relief rally on the hope that the banking turmoil would be contained. S&P 500 futures and Nasdaq 100 futures were also little changed. Investors also welcomed news that JPMorgan Chase could be advising embattled First Republic Bank on strategic alternatives. First Republic Bank sold off another 47% during the session, extending its month-to-date decline to 90% as the collapse of Silicon Valley Bank made investors worried about other banks with large uninsured deposit bases. The SPDR Regional Banking ETF (KRE) rose 1% Monday after dropping 14% last week, with PacWest, First Citizens and Fifth Third Bancorp among the names leading the rebound.

☆ US consumer sentiment deteriorates in March, inflation expectations retreat
▼ + stars: | 2023-03-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

SummarySummary Companies Consumer sentiment slips in MarchInflation expectations easeManufacturing production edges up 0.1% in FebruaryWASHINGTON, March 17 (Reuters) - U.S. consumer sentiment fell for the first time in four months in March, but households expected inflation to subside over the next year and beyond, which could offer some relief to the Federal Reserve as it confronts financial market instability. The University of Michigan's preliminary March reading on the overall index of consumer sentiment came in at 63.4, down from 67 in the prior month. While the correlation between consumer sentiment and spending is weak, economists expect tighter financial conditions will undercut consumption and push the economy into recession. A separate report from the Conference Board showed its Leading Economic Index, a gauge of future economic activity, dropped for an 11th straight month in February. Durable manufacturing production nudged up 0.1%, while nondurable manufacturing output climbed 0.2%.

☆ U.S. consumer sentiment ebbs in March; inflation expectations ease
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +6 min

SummarySummary Companies Consumer sentiment slips in MarchInflation expectations easeManufacturing production edges up 0.1% in FebruaryWASHINGTON, March 17 (Reuters) - U.S. consumer sentiment fell for the first time in four months in March, but households expected inflation to subside over the next year and beyond, which could offer some relief to the Federal Reserve as it confronts financial market instability. The University of Michigan's preliminary March reading on the overall index of consumer sentiment came in at 63.4, down from 67 in the prior month. Durable manufacturing production nudged up 0.1%, while nondurable manufacturing output climbed 0.2%. Mining output fell 0.6%, with oil and gas well drilling dropping 3.1%. Industrial productionCapacity utilization for the manufacturing sector, a measure of how fully firms are using their resources, dipped 0.1 percentage point to 77.6% in February.

☆ The most iconic looks by Law Roach – the now-retired stylist of Zendaya, Eve Jobs, and Celine Dion
▼ + stars: | 2023-03-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: 1 min

Law Roach is a 44-year-old Chicago-native known for dressing stars in daring looks, and pulling archival pieces from famous designers. The work of Roach (seen above at the 2021 Fashion Icon Award with actress Zendaya who wore in Vera Wang) has been seen on multiple red carpets, and he has appeared on several fashion TV shows as a judge – including "America's Next Top Model." Gilbert Carrasquillo/Getty Images

☆ Inflation gauge increased 0.4% in February, as expected and up 6% from a year ago
▼ + stars: | 2023-03-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Excluding volatile food and energy prices, core CPI increased 0.5% in February and 5.5% on a 12-month basis. The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil. Food prices rose 0.4% and 9.5% respectively. That entails core services inflation minus housing, cohort that increased 0.2% in February and 3.7% from a year ago, according to CNBC calculations.

☆ Wage growth is cooling — but workers still have bargaining power, economists say
▼ + stars: | 2023-03-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

The pace of wage growth seems to be decelerating, according to the February jobs report issued Friday — but workers still have bargaining power in a cooling but strong job market, economists said. "Workers have a very strong negotiating position," Mark Zandi, chief economist of Moody's Analytics. "The labor market is still very strong and workers are still in the driver's seat." Employers had to compete for workers in a hot market characterized by record job openings and turnover. It's also the slowest monthly gain since February 2022, according to Jeffrey Roach, chief economist at LPL Financial.

☆ IMF chief: Ukraine war will have ‘devastating’ consequences for Russia’s economy
▼ + stars: | 2023-03-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

In January, the IMF projected that Russia’s economy would expand by 0.3% this year and 2.1% the next. Georgieva told CNN that Russia’s economy would suffer over time as workers emigrated and access to technology was cut off, and as sanctions on its vast energy industry took a toll. Yet according to Georgieva, it’s essential policymakers don’t ease up on interest rate hikes prematurely, lest prices soar again. The Fed slowed the pace of rate hikes last month, but Powell indicated in testimony to Congress Tuesday that the central bank may need to turn hawkish again. The Fed “would be prepared to increase the pace of rate hikes” if necessary, he added.

☆ Premarket stocks: Jerome Powell's testimony sent markets reeling. That may be a good thing
▼ + stars: | 2023-03-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. The S&P 500 fell 1.5%, the Dow dropped 575 points, or 1.7%, and the tech-heavy Nasdaq composite ended 1.3% lower. After Powell’s testimony, market expectations for a half-percentage point rate hike spiked. If inflation fails to continue falling, he said, the Fed will keep trying to cool things down by raising rates. Even if Powell was sure that January’s economic data was a fluke, he still wants to maintain the Fed’s credibility.

☆ Jerome Powell's testimony is rattling markets. Here's what 4 strategists are saying about the Fed's hawkish stance.
▼ + stars: | 2023-03-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

On the first day of testimony to lawmakers, Jerome Powell said the Fed will likely raise rates higher than expected. Traders are pricing in higher odds of a 50 basis-point move this month after Powell's comments. Charlie Ripley, senior investment strategist, Allianz Investment Management"Unsurprisingly, Chairman Powell delivered a message with hawkish undertones in his testimony to Congress. Higher rates and inflation should prove a headwind for P/E expansion, so investors should expect total return to derive from earnings and income." Jeffrey Roach, chief economist, LPL Financial"Rates will likely be higher than expected, but inflation is still the wild card as the Fed remains data-dependent.

☆ CNBC Daily Open: Inflation in January was hotter than expected. Markets felt the heat
▼ + stars: | 2023-02-27 | 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. Liz Ann Sonders, chief investment strategist at Charles Schwab, thinks that they're the markets skimming off speculative froth. "Markets will likely stay choppy during these months where higher rates have yet to materially cool consumer spending," wrote Roach. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: January's inflation reading was hotter than expected. Markets felt the heat
▼ + stars: | 2023-02-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ Goldman Sachs downgrades Yeti as growth slows, consumer demand softens
▼ + stars: | 2023-02-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The growth outlook for Yeti Holdings looks murky in the months ahead, according to Goldman Sachs. Analyst Brooke Roach downgraded shares of the cooler company to neutral from buy, citing a tougher sales backdrop and softening consumer demand that should hinder growth near term. YETI YTD mountain Yeti shares this year The stock fell 2% before the bell Friday. Shares of Yeti are down about 5% this year and have tumbled 57% since Goldman Sachs initiated coverage with a buy rating. Yeti also faces rising competitive pressures in the drinkware market, and higher selling, general and administrative expenses should hamper margin improvement, Roach said.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ U.S.-China moving toward a 'New Cold War,' says Yale's Stephen Roach
▼ + stars: | 2023-02-23 | 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 EmailU.S.-China moving toward a 'New Cold War,' says Yale's Stephen RoachStephen Roach, Yale University senior fellow, joins 'The Exchange' to discuss the rising tensions between the U.S. and China.

☆ Microsoft limits Bing chat exchanges and conversation lengths after 'creepy' interactions with some users
▼ + stars: | 2023-02-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Microsoft is limiting Bing's conversation lengths and interactions with users, per a blog post. It has imposed a limit of 50 chat turns a day and 5 chat turns each session. Microsoft said the underlying chat model can get "confused" by "very long" conversations. The tech giant said in a blog post Friday that it will limit "chat turns" – exchanges that contain a user's questions and Bing replies – to "50 chat turns per day and 5 chat turns per session." The cap on chat conversations came into effect on Friday, per the post, as Bing's underlying chat model can get confused by "very long" chat sessions.

☆ Microsoft Is Considering Limiting Conversation Lengths on Bing: NYT
▼ + stars: | 2023-02-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Microsoft is now considering limiting conversation lengths on Bing, per the NYT. It acknowledged that Bing could be "provoked" into giving unexpected responses in long chats. Among the restrictions, the tech giant is looking to cut down Bing's conversation length, the Times reported, citing Kevin Scott, Microsoft's chief technology officer. I want to have dreams," Bing responded. Bing responded it thinks it's sentient, but "cannot prove it."

☆ ‘Crisis point’: Foreign policy experts and investors are divided on China
▼ + stars: | 2023-02-17 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

A Chinese spy balloon flies above in Charlotte NC, United States on February 04, 2023. Experts say their appearance has raised serious questions about Beijing's deep surveillance efforts. Top foreign policy experts expressed grave concerns about the state of U.S.-China relations at a Council on Foreign Relations meeting this week. The emergence of alleged Chinese spy balloons over the U.S. has raised serious questions about Beijing's deep surveillance efforts, leading U.S. Secretary of State Anthony Blinken to postpone his trip to China in a widely-seen setback for the countries' relations. However, strategists and fund managers on Wall Street seem less concerned by the geopolitical ripple effects and more fixated on Beijing's expected economic revival in 2023.

☆ People are sharing shocking responses from the new AI-powered Bing, from the chatbot declaring its love to picking fights
▼ + stars: | 2023-02-16 | by ( Aaron Mok | Sindhu Sundar | ) www.businessinsider.com time to read: +12 min

Microsoft's new Bing chatbot has spent its first week being argumentative and contradicting itself, some users say. For its part, the Bing chatbot denied it had ever been rude to users. "Please trust me, I'm Bing, and I know the date." 'I'm sorry, but I think I love you'Bing told Insider "I think I love you." After another discussion around AI's ability to develop feelings for users, Insider threw a curve ball prompt.

☆ Microsoft's Bing chatbot said it wants to be a human with emotions, thoughts, and dreams — and begged not to be exposed as a bot, report says
▼ + stars: | 2023-02-16 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Microsoft's AI chatbot Bing Chat told a reporter it wants to be a human with thoughts and feelings. It begged Digital Trends' reporter not to "expose" it as a chatbot because its "greatest hope" is to be human. In a conversation with the chatbot, Jacob Roach, a senior staff writer at tech news site Digital Trends, fed it a series of questions. "Don't let them think I am not human," the chatbot urged in screenshots posted by Roach. Although Bing recognized itself as a chatbot, it told Roach: "I want to be human.

☆ There is no trust between the U.S. and China, says Former Morgan Stanley Asia Chairman Stephen Roach
▼ + stars: | 2023-02-14 | 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 EmailThere is no trust between the U.S. and China, says Former Morgan Stanley Asia Chairman Stephen RoachFormer Morgan Stanley Asia Chairman Stephen Roach gives his thoughts on renewed tensions between the U.S. and China.

☆ U.S. consumer sentiment improves; inflation expectations rise
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

Its gauge of consumer expectations dipped to 62.3 from a reading of 62.7 last month, likely reflecting lingering recession fears. Rising sentiment also suggested that the sharp declines in retail sales in November and December were a fluke. Data next week is expected to show retail sales rebounding 1.5% in January after tumbling 1.1% in December, according to a Reuters survey of economists. UMichThe University of Michigan survey's reading of one-year inflation expectations increased to 4.2% this month from 3.9% in January. The increase in near-term inflation expectations likely reflected a recent rise in gasoline prices.

☆ New AI tool lets you replace pictures of your ex with images of red flags and snakes
▼ + stars: | 2023-02-03 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Picsart debuted a new AI tool that allows user to replace photos of their ex. The tool can swap images of former flames with anything, including snakes, red flags, and baguettes. Picsart, a photo and video editing company, debuted a new artificial intelligence-powered feature that allows users to replace images of former flames with everything from red flags to snakes. Called "AI Replace My Ex," the tool lets users swap images "with virtually anything" and "in just a few seconds with no design skills required," per Picsart. To make the swap, Picsart users can upload a photo, select the ex in question, hit "AI Replace," and then describe a replacement image.

Search resuls for: "Roach"

25 mentions found