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☆ I went to school for architecture but realized I hated it. Here's how I found my dream career as a writer.
▼ + stars: | 2024-01-17 | by ( Meehika Barua | ) www.businessinsider.com time to read: +4 min

Read previewWhen I first started college, I knew I wanted to study architecture and become an architect. But at 19, I was in the middle of my second year of studying architecture as an undergrad, and I realized that I hated the coursework. Though I graduated with a degree in architecture, I decided to become a freelance writer instead. I eventually realized I wanted to write about anything and everything — from fashion and lifestyle to tech and social issues. AdvertisementBy the time I finished my architecture degree, I had successfully carved out a career as a freelance writer for my dream publications.

Persons: —, I'd, Rachel Green, Susan Shapiro Organizations: Service, Business

They argue that geopolitical tensions between the West and China risk the reliable supply of rare earth minerals. Aclara's Barua said that Western supply of rare earth elements will not develop if it depends on Chinese prices. "The price of any metal (rare earth or otherwise) that is coming from China or from western countries has the same pricing, so why should rare earth pricing be different?" The discussion on pricing has come up often in the Rare Earth Industry Association, said Veluri, who is also the president of the global organization with partners representing the whole rare earth value chain. "But for things like cobalt, copper, or rare earth metals there is a good strategic play to find with a mining partner."

Persons: Ramon Barua, Aclara's Barua, Veluri, Australia's, Tim Harrison, Harrison, Flavio Volpe, Volpe, Divya Rajagopal, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Aclara, Earth Industry Association, Companies, Automotive Parts Manufacturers Association, Thomson Locations: China, Chile, West, Beijing, Badrinath, Denmark, Vietnam, Malaysia, Myanmar

☆ Amazon built a data center empire in northern Virginia. Exclusive filings reveal it's using as much energy as a major city.
▼ + stars: | 2023-08-16 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +16 min

Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume. Many of Amazon's data centers listed in the permits have been built recently and some may still be under construction. "You cannot run a data center based on the variability of solar and wind," Boston said. Any producer of renewable energy can sell one REC for every megawatt hour of renewable energy it generates. Brady, the Cushman & Wakefield data center executive, said that data centers often match their backup generation to the capacity of a data center's power supply.

Persons: Shaolei Ren, David Ward, Abraham Silverman, Sean Brady, Glenn Youngkin, Steve Helber, Terry Boston, –, Ben Hertz, Wood Mackenzie, Andy Jassy Mike Blake, Amazon's, Priya Barua, We've, Barua, Blackstone, Weston Swenson, Brady, Swenson, Josh Levi Organizations: Amazon, Washington DC, Amazon Web Services, UC Riverside, Columbia University's Center, Global Energy, Cushman & Wakefield, Dominion Energy, France's, AP, Greenhouse Gas Initiative, Republican, State Corporation Commission, Boston, state's Department, Environmental, Reuters, Microsoft, Google, Apple, Clean Energy Buyers Association, Virginia's Department, Industry, Cushman &, Dominion, Data Center Coalition Locations: Virginia, New York City, Washington, Seattle, France, Ward, Northern Virginia, West Coast, Cushman & Wakefield, CBRE

☆ PTC forecasts quarterly revenue below estimates as economic uncertainty bites
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 - Industrial software maker PTC (PTC.O) forecast fourth-quarter revenue below estimates on Wednesday, as economic uncertainty forces companies to cut back on spending to bolster their bottom lines. It expects fourth-quarter revenue between $540 million and $570 million, below analysts' estimate of $572.9 million, according to IBES data from Refinitiv. It reported third-quarter revenue of $542 million, compared with $462 million, a year earlier. Analysts expected the firm to report quarterly revenue of $523.7 billion, according to Refinitiv IBES data. Excluding items, PTC posted a profit of 99 cents per share in the April-to-June period, compared with estimates of $1 per share.

Persons: Neil Barua, James Heppelmann, Akash Sriram, Pooja Desai Organizations: PTC, Companies, Refinitiv, Lifecycle Management, Thomson Locations: United States, Boston, Bengaluru

☆ Bullish view on Indian rupee thwarted by wall of cenbank intervention
▼ + stars: | 2023-05-17 | by ( Nimesh Vora | ) www.reuters.com time to read: +3 min

MUMBAI, May 15 (Reuters) - The bullish outlook on the Indian rupee that several foreign banks have is facing a tough test from the Reserve Bank of India's persistent intervention to shore up reserves. Barclays projected the rupee to hit 80 per dollar by next March, while BofA Securities expected a move to 79.5 by then. The rupee currently is down slightly from its March 31 level, at 82.34 to the dollar. There is little doubt that the RBI will persist with its two-way intervention strategy to keep a check on the rupee volatility, chief dealer at another public sector bank said. "Broadly, I agree with what the public sector banks are saying, that RBI reckons the need to continue intervention and build reserves," said Abheek Barua, chief economist at HDFC Bank.

☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.

☆ Exclusive: India's RBI asks banks to stop building positions in offshore market
▼ + stars: | 2022-10-13 | by ( Nimesh Vora | ) www.reuters.com time to read: +3 min

The build-up of positions in this segment of the market is forcing the RBI to spend more reserves to defend the rupee, one of the bankers said. For instance, the USD/INR NDF 1-month rate is currently 7 paisa higher than the corresponding onshore rate and the 3-month forward rate is about 25 paisa higher. To take advantage of this arbitrage, eligible banks could buy spot dollars onshore and pay 1-month premium while selling USD/INR 1-month in the NDF market. Bankers argue that the RBI's curbs on the activity of banks on NDF will not ease pressure on the rupee. Instead, it would lead to offshore rates once again having more influence on the rupee exchange rate.

☆ RBI may need to reload reserves as Indian rupee falls further, HDFC Bank economist says
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/MUMBAI, Sept 27 (Reuters) - The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee, HDFC Bank Chief Economist Abheek Barua said. read more"The central bank should intervene to ensure that a falling currency does not eclipse India's fundamentals," Barua wrote in a note this week. According to Barua, the central bank may need to think of ways to bulk up its forex reserves, should the pool shrink to near $500 billion in the coming months. "More capital is needed at this stage to stabilise the rupee and enable the RBI to replenish its reserves chest," he said.

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