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Read previewSince January, gig delivery workers in Seattle have been reaping the benefits of a local law mandating a certain pay level. Under the proposal, gig workers would be paid an hourly rate of $19.97 for their time spent retrieving and delivering orders. Instead, gig workers would get paid 35 cents per mile — down from the current 74 cents. In emails and calls to action sent to gig workers, DoorDash, Instacart, Uber, and others have claimed that there are fewer orders for gig workers to claim. Seattle City Council President Nelson did not respond to a request for an interview from Business Insider.
Persons: , Sara Nelson, They're, PayUp, Justin Taylor, Taylor, he'll, Nelson, Dashers, Instacart, Uber, it's Organizations: Service, Business, Seattle City, Washington, PayUp, Seattle's, Uber, Seattle City Council Locations: Seattle, Seattle's
BofA Securities says copper is one of its top commodity picks
  + stars: | 2024-05-09 | 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 EmailBofA Securities says copper is one of its top commodity picksMatty Zhao, head of Asia-Pacific basic materials and oil and gas research at BofA Securities, says artificial intelligence will boost the demand for copper and the metal's prices.
Persons: Matty Zhao Organizations: BofA Securities Locations: Asia, Pacific
Plenty of companies are reining in their rhetoric and in some cases action on issues such as sustainability and diversity. Over the past decade, many corporations have at least professed to take a more active role in social issues, under pressure from their customers and, more importantly, employees. After last year's Bud Light debacle, which was a real blow to its business, executives fear they'll be the next target of some anti-woke outcry. For the fourth quarter of 2020, 131 companies mentioned ESG, and 34 mentioned DEI or diversity and inclusion. This may be a great un-wokening, but maybe corporate America was actually never that committed to the idea in the first place.
Persons: Paul Polman, It's, Naomi Wheeless, Eventbrite, Donald Trump, Larry Fink, George Floyd's, ESG, Andrew Jones, there's, Bud Light, influencer Dylan Mulvaney, haven't, Philip Mirvis, Bud, they'll, they'd, Jones, it's, Fink, FactSet, — we're, wasn't, Alison Taylor, University's, we've, Roe, Wade, Taylor, isn't, Dylan Mulvaney, Bud Light's, Kenneth Pucker, Emily Stewart Organizations: Unilever, Unilever wasn't, Unilever isn't, Companies, Business, Sporting Goods, Conference Board's ESG, Morningstar, Babson, AIG, Amazon, ExxonMobil, University's Stern School of Business, Anheuser, Busch, Fletcher School, Tufts University Locations: Plenty, America, ESG, New, Charlottesville
Aly Song | ReutersBEIJING — China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts. Worldwide, China's exports rose by 1.5% year-on-year in April in U.S. dollar terms, while imports climbed by 8.4%, the data showed. China's exports to ASEAN rose by 8% in April from a year ago, while imports rose by 5%. In April, China's imports and exports of integrated circuits rose from a year ago, the data showed. By volume, China's exports of cars, LCD panel displays and home appliances rose, while exports of cellphones fell slightly.
Persons: Aly Song Organizations: Reuters, CNBC, U.S, Association of Southeast, ASEAN Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Union, Russia, Nations, Vietnam, Mexico
This is in part the doing of so-called "golden visas," hugely popular residency visas for foreign investors. And they purchased more Portuguese golden visas than any other nationality in 2022. Related storiesBut as Portugal has experienced a worsening housing affordability crisis, Portuguese public opinion on golden visas has soured. Last year, the country changed the terms of its golden visa program to exclude real estate investment. Other southern European countries are following suit, similarly pointing to skyrocketing real estate prices.
Persons: , They're, they're, João Pereira dos Santos, Pereira dos Santos, Nuno Fazenda, Holger Schmieding, Schmieding, David Zorrakino Organizations: Service, Business, The New York Times, School of Economics, Finance, Queen Mary University of London, State, Tourism, Trade, Services, Bloomberg, Berenberg Bank, Getty, European Central Bank, Paris Locations: Greece, Portugal, Tourism, Lisbon, Athens, Spain, Southern Europe, Portuguese, London, Ramblas, Barcelona, Catalonia, Europe, Germany, Netherlands, France
CNN —The world has passed a clean energy milestone, as a boom in wind and solar meant a record-breaking 30% of the world’s electricity was produced by renewables last year, new data shows. The planet is reaching “a crucial turning point” toward clean energy, according to the Global Electricity Review published Wednesday by climate think tank Ember. Record-breaking renewablesIn 2000, renewables made up less than 19% of the global energy mix. It made up nearly twice as much new electricity generation as coal last year. Electricity demand is set to soar from 2024 onward, Ember’s analysis found.
Persons: It’s, Dave Jones, Ember, ” Jones, “ We’re, Jones, , , Niklas Höhne, Nancy Haegel Organizations: CNN, Global, NewClimate Institute, European Union, EU, National Renewable Energy Laboratory Locations: China, India, Chile, Australia, Netherlands, California, United States
In the intervening 33 years, how young adults spent their money changed dramatically. Millennials are spending a lot more on healthcare and rented housingHealth insurance spending stands out between the average young adult in 1989 versus in 2022. Based on average data, young adults were spending roughly 60% more on apartments and other rented housing. Before adjusting 1989 data for inflation, young adults in 2022 spent 304% more on fresh fruits than young adults in 1989. Based on our analysis, the average young adult in 2022 was spending more on nonalcoholic beverages and less on alcoholic beverages than the average young adult in 1989.
Persons: , Harry Met Sally, millennials, Gen Zers, Grace Hill, Gen Organizations: Service, Nintendo Game, Business, Bureau of Labor Statistics, Labor, BLS, Pew Research Center, CPI, Gallup Locations: Millennials
His wife, a teacher, had been to China before and realized she could get a visa to teach at an international school there and bring Scott along. The school that hired her also hired Scott, and the two put their lives in the US on hold and relocated to China. His wife got a job as a teacher at an international school, and the two moved to China on her visa. Related storiesBefore moving to China, the couple paid $1,900 a month in rent in Arizona. He said their internet bill was $130 a month, their cellphone bill was $70, and their electricity bill was $100.
Persons: Scott Vleeschouwer, weren't, Scott, Vleeschouwer, it's, they've, China Vleeschouwer, DiDi —, He's, they're Organizations: Service, China's, Business Locations: China, Shenzhen, Maryland, Roanoke , Virginia, San Antonio, Phoenix, Mexico, Beijing, Shanghai, India, Hong Kong, Philippines, Indonesia, Kenya, Southeast Asia, Arizona, They've
The rate of EV sales has been slowing for about a year, major automakers have pulled back on their previously lofty EV goals, and even electric car-giant Tesla is faltering. Demand for electric vehicles hasn't dried up completelyDemand for expensive EVs has softened significantly, but an opening exists in the affordable market. A new generation of electric car shoppers are looking for different options than their early-adopting counterparts. Essentially every major automotive company at this point has built its future around selling more electric vehicles. The real divide here is not between hybrids and EVs, but between legacy car companies and EV-only startups.
Persons: , it's, Power, It's, Elon Musk Organizations: Service, Business, EV, Companies, Ford, GM Locations: EVs
Candid conversationsThrough candid conversations and shared narratives, members of the DANG community confront taboo topics such as gender-based violence, discrimination, body image, mental health, and reproductive rights. This ultimately led Agoro to create the #DangAfterHours series, a no-holds-barred discussion on sex and sexuality, a real taboo subject in Nigeria, Agoro says. Soon after, she launched her DANG Lifestyle and skincare business which has grown largely through word of mouth through the DANG community, Agoro says. Despite aiming her message squarely at women, Agoro doesn’t discount a future where men would be integrated into the community. “I now get men commenting and saying to me, ‘We are DANG men too, include us in the conversation.’ We are happy to have them in the conversation.
Persons: Agoro, , , ’ ” Agoro, , , ’ ”, Organizations: Nigeria CNN —, Twitter, CNN Locations: Lagos, Nigeria, Nigerian, I’m, skincare, Dang, USA, Ghana, Kenya
The Dark Energy Camera captured a stunning image of “God’s Hand,” a cometary globule 1,300 light-years from Earth in the Puppis constellation. Cometary globules are unique because they have extended tails, like those seen on comets — but that’s the only cometlike thing about them. Astronomers still don’t know how cometary globules come to exist in such distinctive structures. The new image of the glowing red hand-like feature showcases CG 4, one of many cometary globules found across the Milky Way galaxy. The Gum Nebula is believed to contain 31 cometary globules in addition to CG 4.
Persons: Blanco, Cometary, Bok globule, it’s, globules Organizations: CNN, Energy, Cerro Tololo Inter, American, UK Schmidt Telescope, Astronomers Locations: Chile, Australia
Direct air capture, or DAC, is a technology designed to suck in air and strip out the carbon using chemicals. Climeworks plans to transport the carbon underground where it will be naturally transformed into stone, locking up the carbon permanently. ClimeworksClimeworks' Mammoth plant will eventually be able to capture 36,000 tons of carbon from the air. It will increase the size of equipment to capture carbon pollution. It’s this kind of process that makes some critics concerned carbon removal technologies could be used to prolong production of fossil fuels.
Persons: , Lili Fuhr, Haukur, Climeworks Climeworks, Stuart Haszeldine, it’s, Jan Wurzbacher Organizations: CNN, Climeworks, Center for International Environmental Law, Mammoth, University of Edinburgh, International Energy Agency, Stratos, Occidental Locations: Iceland, Swiss, Texas, Occidental, Kenya, United States
download the appSign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. President Joe Biden has sought to use his pro-environment policies to boost his support among young voters, but most of them have little to no knowledge of his administration's actions to tackle climate change, according to a recent survey. And many of the administration's climate policies are seemingly popular with the American public. The most polarizing Biden policy in the survey was the allowance of tax credits for electric vehicles, but even it had a plurality of support (43 percent) among respondents. Meanwhile, 35 percent of respondents opposed such credits, and 21 percent of respondents indicated they hadn't heard about it.
Persons: Joe Biden, Biden, Donald Trump's Organizations: Service, CBS, Business Locations: White House, Paris, United States
BP on Tuesday reported a fall in first-quarter profit, with results coming in below analyst expectations amid a "significantly weaker" margin in fuels and lower gas and oil prices. The British energy giant logged underlying replacement cost profit, used as a proxy for net profit, of $2.7 billion. That was down from $3 billion the previous quarter and compared with an estimate in an LSEG-compiled consensus of $2.9 billion. The results reflect lower oil and gas realizations and a "significantly weaker" fuels margin, the company said in its Tuesday statement. This is a breaking news story and will be updated shortly.
Automotive journalist Jules Rogers test-drove the 2024 Ford F-150 Raptor priced at $83,665 and loved it. AdvertisementIn a group of similar trucks, the 2024 Ford F-150 Raptor immediately stands out from the crowd. AdvertisementThe 2024 F-150 Raptor starts at $77,980, and the model I tested was listed at $83,665 with its optional upgrades. Interior and aestheticsThe interior of the 2024 Ford F-150 Raptor. The 2024 Ford F-150 Raptor.
Persons: Jules Rogers, , Ford Organizations: Service, Raptors, Ford, Audi, Oregon, Raptor
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has to cut because the economy is running out of gas, says Jim Cramer'Mad Money' host Jim Cramer talks Builders FirstSource recent quarter and how rate hikes impacted it.
Persons: Jim Cramer
Russia's military is paying more in sign-on bonuses and salaries than the oil and gas sector. Russia's oil and gas revenues have been keeping its war chest filled. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is facing a labor crisis as its war with Ukraine siphons manpower away from the country's economy. Russia's oil and gas sector has been paying wages that are at least two-thirds higher than the national average wage since 2017, per Bloomberg calculations based on official data.
Persons: Organizations: Service, Bloomberg, Business Locations: Russia, Ukraine
London CNN —Two of Europe’s biggest oil companies, Shell and TotalEnergies, are considering abandoning their stock exchanges for Wall Street in a move that would deal a hammer blow to London and Paris. Shares of TotalEnergies and Shell trade on a price-to-cash flow ratio of 4.7 and 5.2 respectively, compared with a ratio of 8.4 for Exxon Mobil (XOM) and 7.6 for Chevron (CVX). Alastair Syme, managing director of global energy equity research at Citi, says Shell and TotalEnergies have long traded at a discount. Investors would “be much more comfortable” buying European energy companies if they were part of the more valuable S&P 500 benchmark index of US equities, according to Syme. London languishesStill, the slightest hint that Shell may consider leaving London will have rattled the city’s beleaguered main stock exchange.
Persons: Britain’s Shell, France’s, Alastair Syme, Syme, Patrick Pouyanne, , , Wael Sawan, Sawan, London languishes, Chris Beauchamp, Shell, TotalEnergies, New York “ would’ve, ” Lindsey Stewart, Ben van Beurden, ” Syme Organizations: London CNN, Shell, CAC, Exxon Mobil, Chevron, Citi, CNN, Investors, Bloomberg, London Stock Exchange, Nasdaq, BP, Morningstar, Financial, Commodities Locations: London, Paris, New York, Chevron, Europe, United States, Switzerland,
There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."
Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, , Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine
Uses Electricity They’re delivering solar power after dark in California and helping to stabilize grids in other states. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Ga. Ga. Texas Texas La. By The New York TimesMost grid batteries use lithium-ion technology, similar to batteries in smartphones or electric cars.
Persons: , , Helen Kou, Conn ., Mo ., R.I, Conn . Conn ., . Kan ., , Andrés Gluski, Mike Blake, John Phipps, Phipps, Stephanie Smith, Aaron Mitchell, Natalie McIntire, Tamir Kalifa, Emma Konet, Max Kanter, BloombergNEF, you’ve, Meredith Fowlie, Nate Blair, “ We’re, Ross D Organizations: Hydro Nuclear, Hydro, The New York Times, , United States U.S, Conn . Pa . Iowa Neb, N.J . Ohio Nev, Del . Utah Ill, Texas, Fla ., Vt, Wis ., Wis . Idaho Idaho S.D, Pa . Iowa Iowa Neb, Neb . N.J . N.J . Ohio Ohio Nev, Del . Utah Utah Ill, . Energy, AES Corporation, Reuters, California, Georgia Power, Natural Resources Defense Council, Nationwide, The New York Times Grid, University of California, National Renewable Energy Laboratory, Franklin, Associated Locations: California, The New York Times California, China, Texas , California, Arizona, Wash . Maine, Minn, Ore, N.H, N.Y, Mass, Wis . Idaho S.D, Mich, Wyo, R.I, Conn, Conn . Pa . Iowa, N.J . Ohio, Del . Utah, Calif, Md, Colo, W.Va . Va, Mo, Mo . Kan, Ky, N.C, Tenn, Ariz, ., S.C . California, Ala, Miss ., Fla, Alaska Texas, Hawaii, Wash . Maine Maine Mont, Mont, Vt, Wis, Wis . Idaho Idaho, S.D . Mich, Conn . Conn, Conn . Conn . Pa, Pa . Iowa, Neb . N.J . N.J . Ohio, Nev . Ind, Ind, Del, W.Va, W.Va . Va . Va, . Kan . Kan, S.C . Ala . Ala . Miss, . Texas Texas, La, Fla . Alaska Alaska Hawaii Hawaii California, Texas, Menifee, . California, ” In Texas, Fort Worth, West Texas, Georgia, Sweetwater , Texas, Tierra, Berkeley, Sacramento
Food waste is so prolific in the U.S. that roughly one-third of the amount produced ends up in landfills rather than stomachs. A recent study published in the journal Science found food production accounts for 26% of global greenhouse gas emissions. Food delivery services like HelloFresh, Blue Apron and EveryPlate reduce that somewhat by sending consumers what they need for specific recipes. The company says its processes help lead to 80% less food waste at its facilities compared with a traditional supermarket. In addition to Lightspeed, Hungryroot is backed by L Catterton, Crosslink Capital, Karp Reilly and Lerer Hippeau.
Persons: Ben McKean, Hungryroot, Jeremy Liew, They've, L, Karp Reilly, Lerer, Lisa Rizzolo Organizations: CNBC, Investors, Lightspeed Venture Partners, Crosslink Locations: U.S, York, Brussels
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChevron CEO Mike Wirth: Demand for natural gas will be higher than expectedChevron CEO Mike Wirth joins 'Money Movers' to discuss the geopolitical risk to the oil sector, natural gas demand, and supply concerns.
Persons: Mike Wirth Organizations: Chevron
I've been a Costco member for 25+ years and, for the past five, have been shopping for just myself. Costco has great food deals and I save by buying my electronics and tires there. I'm regularly saving 25 to 30 cents a gallon on gas by going to Costco. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After all, the wholesale club has 129.5 million membership cardholders , which range from small households to midsize businesses.
Persons: I've, I'm, , We'd Organizations: Costco, Service Locations: California
Microsoft signed a deal to remove to permanently remove 3.3 million metric tons of carbon dioxide with Swedish energy company Stockholm Exergi, the companies announced on Monday. The contract with Microsoft is the world's largest carbon removal deal to date, Stockholm Exergi said in a statement. Carbon dioxide released from those materials during incineration will be removed from the gas emitted from the plant, liquified for transport and permanently stored underground. Stockholm Exergi is selling carbon removal certificates, equivalent to 1 million metric tons of carbon dioxide, to help companies achieve their net-zero emissions goals. "Leveraging existing biomass power plants is a crucial first step to building worldwide carbon removal capacity," said Brian Marrs, Microsoft's senior director of energy and carbon removal, in a statement.
Persons: Stockholm Exergi, Anders Egelrud, Brian Marrs, Microsoft's Organizations: Microsoft, Stockholm Exergi Locations: Stockholm, Swedish, Europe
Natural gas demand will likely outpace expectations as electricity consumption surges from artificial intelligence and data centers, Chevron CEO Mike Wirth told CNBC on Monday. "It's a little hard to quantify right now because this is evolving so quickly on the AI side," Wirth told CNBC's Sara Eisen at the Milken Institute's Global Conference in Los Angeles. "But I think demand for natural gas is likely to be higher than what people have been estimating up until now." Wirth said the move to electrify the nation's vehicle fleet, heating and manufacturing as well as the increase in demand from data centers will require reliable and affordable backup power generation. Wind and solar offer affordable power in some regions, but they still face challenges in generating enough electricity to meet peak demand because they rely on variable weather conditions, the Chevron CEO said.
Persons: Mike Wirth, Wirth, CNBC's Sara Eisen Organizations: Chevron, CNBC, Milken Institute's Global Conference Locations: Los Angeles
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