(Bloomberg) — Brazil is getting closer to setting up a regulated carbon market that will help to reduce emissions and expand forested areas after the Senate approved a bill on Wednesday. The bill will go back to the lower house for debate and needs President Luiz Inacio Lula da Silva’s approval. It is moving forward at a time climate negotiators are meeting in Azerbaijan at the COP29 summit, where Brazil announced a new nationally determined contribution to reduce 67% of emissions by 2035 from 2005. The bill has become a priority for Brazil’s government as it prepares to host COP30 next…
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Nvidia (NVDA) and Meta (META) are fighting two Supreme Court cases this year that they claim will flood the legal system with investor lawsuits if not decided in their favor. So far, things aren’t exactly going their way. Nvidia’s lawyers made their case before the high court on Wednesday and drew skepticism from justices across the ideological spectrum. The same happened to Meta’s lawyers last week. “It just seems to me that you’re asking us to engage in a kind of analysis that we are not very good at,” Justice Elena Kagan, an appointee by Democratic President Barack Obama, told…
By Nell Mackenzie and Ludwig Burger LONDON/FRANKFURT (Reuters) – Hedge fund D.E. Shaw took a 102 million euro ($108 billion) short bet against Bayer (OTC:) on Tuesday, a regulatory filing in Germany showed, following an earnings presentation that sent its shares to a 20-year low, A short position reflects a view that the price of a financial asset will fall. New York-based D.E. Shaw, one of the hedge fund industry’s biggest managers overseeing more than $60 billion in assets, declined to comment. Bayer did not immediately comment. Bayer warned on Tuesday that weak agricultural markets would be likely to cause…
Rep. Matt Gaetz, R-Fla., is seen outside the U.S. Capitol after the last votes before the August recess on Thursday, July 25, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesPresident-elect Donald Trump on Wednesday said he will nominate Republican Rep. Matt Gaetz of Florida to serve as U.S. attorney general.Trump wrote on Truth Social that Gaetz “has distinguished himself in Congress through his focus on achieving desperately needed reform at the Department of Justice.”Gaetz replied on X, “It will be an honor to serve as President Trump’s Attorney General!”The selection is the clearest example yet of how Trump, having…
By Idrees Ali, Phil Stewart and Patricia Zengerle WASHINGTON (Reuters) – President-elect Donald Trump’s selection of Pete Hegseth as U.S. defense secretary was met on Wednesday with surprise at the Pentagon and bewilderment among some European allies, but some Republican lawmakers rallied around the Fox News host. Hegseth, a veteran with scant government experience, has disdained so-called “woke” policies of Pentagon leaders, opposed having women in combat roles, and questioned whether the top U.S. general was in his position because of his skin color. The 44-year-old’s selection shocked many at the Pentagon, where officials privately questioned what qualified him for…
Deputy Prime Minister and Finance Minister Chrystia Freeland announced that the Canada Carbon Rebate for small businesses will not be taxed. Freeland clarified this in a statement on X, following concerns from the Canadian Federation of Independent Business (CFIB) that the rebate would be considered a taxable benefit. Freeland’s post reaffirmed the government’s commitment to providing financial relief for small businesses without adding tax burdens. The CFIB posted on X that the government will tax the long-awaited $2.5 billion carbon tax rebate for small businesses when it’s issued in December. CFIB President Dan Kelly criticized the move, comparing it to…
The stock market has been off to the races following last week’s presidential election. Enthused about the prospect of tax cuts and deregulation under the second Trump administration, investors have pushed the S&P 500 up 3.7%, the Dow up 4.2%, and the Nasdaq Composite up 4.5% since markets closed on Nov. 5. Those who have remained broadly invested in U.S. stocks have reaped the benefits. For this week’s Barron’s Advisor Big Q, we asked investment professionals about the best opportunities they see resulting from the election outcome. Jeff… Source link
November 13th, 2024, 9:25 PM GMT+0000Investors are turning to OCIO or Outsourced Chief Investment Officers for decision-making in a complex environment. Despite fluctuating interest rates and market highs, many are still interested in making new investments, but there are different reasons to invest in public vs private companies. Arjun Raghavan, OCIO Partners Capital CEO discusses some advanatages of private investments, with Sonali Basak on “Bloomberg Markets”. (Source: Bloomberg) Source link
CHARLOTTE, N.C. – Truist Financial Corporation (NYSE: NYSE:) announced today a significant change in its leadership team, with the retirement of Clarke R. Starnes III, the vice chair and chief risk officer, and the appointment of Brad Bender as his successor. Bender, a seasoned executive with two decades at Truist, steps into the role effective immediately. Starnes, who is concluding a notable 42-year tenure at the bank, has been commended for his “steady, purpose-driven leadership” by Truist Chairman and CEO Bill Rogers (NYSE:). During his career, Starnes has held various leadership positions and played a crucial role in the company’s…
Spirit Airlines stock (SAVE) plunged 59% on Wednesday as the budget airline explores a deal with creditors to restructure its debt amid a reported threat of bankruptcy after merger talks with Frontier (ULCC) collapsed. On Tuesday, a Wall Street Journal report said the airline is preparing to file for bankruptcy protection within weeks, as its tie-up discussions with Frontier broke down. This report followed a separate statement from the company late Tuesday, which said it has been in “constructive discussions” to iron out a restructuring deal with holders of its senior secure notes due in 2025. If an agreement with…