By Valerie Volcovici BAKU (Reuters) – The U.S. utility industry wants the incoming Trump administration and Republican-led Congress to preserve clean energy and EV tax credits in the Inflation Reduction Act, Pedro Pizarro, the CEO of utility Edison International (NYSE:) said on Saturday. The 2022 IRA contains hundreds of billions of dollars in subsidies for clean energy and is billed as outgoing President Joe Biden’s signature law to combat climate change. President-elect Donald Trump, a climate skeptic, has vowed to rescind it, something that would require support of Congress. Pizarro, who until recently chaired the board of industry trade group…
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The investment scenario in India is changing. Recent surveys have noted the evolving financial behaviors of the 12-28 age group, known as Gen Z, as well as Millennials. A survey, The Fin One: Young Indians’ Saving Habits Outlook 2024, compiled in collaboration with Nielsen, revealed that 93% of young adults consistently save money, with many setting aside 20-30% of their monthly income for future financial goals. Surprisingly, 45% of respondents expressed a preference for stocks as their primary investment choice over traditional options like gold and fixed deposits. It is worth mentioning that previous surveys have highlighted the significant changes in…
Palantir Technologies (NYSE: PLTR) has been one of the hottest stocks in the market this year, with the stock trading up more than 246% year to date as of this writing. CEO Alex Karp took a victory lap following his company’s most recent earnings, saying the results were so strong that “I almost feel like we should just go home.” Later he took a swipe at any critics who challenged his sanity in making such a comment. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » But while Karp has been…
US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024. Allison Robbert | AFP | Getty ImagesPresident-elect Donald Trump on Saturday selected Liberty Energy CEO Chris Wright to serve as the next energy secretary of the United States.Liberty Energy is an oilfield services company headquartered in Denver with a $2.7 billion market capitalization. The company’s stock gained nearly 9% on Nov. 6 after Trump won the U.S. presidential election, but its shares have since pulled back.Wright serves on the board of Oklo, a nuclear power startup backed by…
By Jarrett Renshaw and Trevor Hunnicutt LIMA (Reuters) -U.S. President Joe Biden and Chinese President Xi Jinping agreed on Saturday that human beings and not artificial intelligence should make decisions over the use of nuclear weapons, according to the White House. “The two leaders affirmed the need to maintain human control over the decision to use nuclear weapons,” the White House said in a statement. “The two leaders also stressed the need to consider carefully the potential risks and develop AI technology in the military field in a prudent and responsible manner.” An official Chinese government summary of the meeting…
Micron may prove to be a solid pick in the coming months. Micron Technology (MU -2.86%) stock surged nearly 80% in early 2024 and reached an all-time high of $153.14 on solid adoption of its high-performance memory products in the data economy. Despite this success, the stock is currently down by almost 32% from those highs. Investors were disappointed with the company’s fiscal 2024 third-quarter results (ended May 30), especially AI sales which fell short of lofty expectations. Furthermore, geopolitical and supply chain challenges plaguing the overall semiconductor industry also did not help overall investor sentiment for Micron. The difficult…
While Jeff Bezos Rides The Stock Market Boom, MacKenzie Scott Has Just Sold $8 Billion In Amazon Shares To Fund Charities Nationwide While Jeff Bezos is enjoying the recent rise in the stock market, his ex-wife, MacKenzie Scott, is making news for her generosity. She recently sold another $8 billion worth of Amazon shares and is using the money to help charities nationwide. Don’t Miss: Scott, who was previously married to Jeff Bezos, the founder of Amazon, has decided to use her money to try to change the world. Since their 2019 divorce, she has received a large amount of…
We glory in the practice of letting our writers and our analysts put forward views that don’t agree with each other, or with the “official” recommendations of our subscription-based advisory services, because we believe that leads investors to consider multiple sides to the investing argument. Two of the five FTSE 350 stocks mentioned here are recommended within our services. Why not discuss with friends and family whether you agree with the writers below! Aston Martin Lagonda What it does: Warwick-based Aston Martin Lagonda Global Holdings is a luxury car company. By Paul Summers. Having fallen 96% since listing, surely the only way…
By Echo Wang and Chandni Shah (Reuters) -TikTok’s parent company ByteDance is valuing itself at about $300 billion, after it recently approached investors about a share buyback program, according to two people familiar with the matter and a document viewed by Reuters. ByteDance reached out to investors in recent weeks, offering a price of $180.70 per share, the people said. The current offer price is an increase of 12.9% from the per share price of $160 in their last buy back program. The news about the valuation was earlier reported by the Wall Street Journal. ByteDance did not have any…
Stock investors loved Alan Greenspan because the policies he pursued during his tenure as chair of the US Federal Reserve benefited the equity markets. At least that was the conventional wisdom. But did the markets reflect this narrative on days when Greenspan testified before Congress? Did they tend to go up as we would expect, or did their performance contradict the narrative? And how did the markets respond when Jerome Powell and other Fed chairs testified? What does their behavior reveal about how they assessed each Fed chair? To answer these questions, we pulled S&P 500 and MSCI market and asset…