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☆ Take these 3 simple steps to improve your memory and rely less on Google: 'Use it or lose it'
▼ + stars: | 2024-04-30 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

"One of the things we know about the brain and memory is that 'use it or lose it' absolutely applies," she tells CNBC Make It. "If you tend to always rely on Google to remember a particular fact, for example, and don't 'use' your brain to remember it, your brain gets very good at not remembering it." If you tend to always rely on Google to remember a particular fact ... your brain gets very good at not remembering it. Here are three simple steps you can take to wean yourself of Google and improve your recall. "Even if this doesn't work at first, and you end up having to Google it anyway, you will slowly strengthen your memory pathways and improve your recall," she says.

Persons: I've, Cynthia Borja, Borja, It's, Bill Gates Organizations: CNBC, Google

☆ Zimbabwe just introduced a new gold-backed currency in an attempt to fight inflation and wean off the US dollar
▼ + stars: | 2024-04-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Last week, the country's central bank introduced a new gold-backed currency called Zimbabwe Gold, or ZiG, in an attempt to tame price gains that reached a seven-month high of 55% in March. The Zimbabwe dollar — the currency the country most recently used — has tanked 80% this year alone. AdvertisementOn Thursday, Zimbabwe's central bank governor, John Mushayavanhu, said the country has real gold and mineral assets to back up the new ZiG currency. The ZiG started trading on Monday at an exchange rate of 13.56 to the dollar set by the central bank. AdvertisementHowever, moving to the new ZiG currency could solve at least one problem, for a start: a shortage of US coins.

Persons: —, There's, John Mushayavanhu, Mushayavanhu, Hasnain Malik, Tellimer, Robert Mugabe Organizations: Service, Zimbabwe, Business, of America, BBC, New Development Bank, International Monetary Fund Locations: Zimbabwe, Zimbabwe's

☆ Three Greenhouse Gases, Three All-Time Highs
▼ + stars: | 2024-04-09 | by ( David Gelles | ) www.nytimes.com time to read: +1 min

They’re all the product of global warming, which is being driven by the release of the three most important heat-trapping gases: carbon dioxide, methane and nitrous oxide. And according to a new study from the National Oceanic and Atmospheric Administration, emissions of those three greenhouse gases continued to surge last year to historic highs. Global average carbon dioxide concentrations jumped last year, “extending the highest sustained rate of CO2 increases” in NOAA’s 65 years of record-keeping. All this despite a wave of global policy measures and economic incentives designed to wean the world off fossil fuels. In each case, the rising emissions continued a long-term trend.

Persons: “, ” Organizations: National Oceanic, Atmospheric Administration, NOAA Locations: NOAA’s

☆ What’s the best diet for weight loss?
▼ + stars: | 2024-04-06 | by ( Andrea Kane | ) edition.cnn.com time to read: +7 min

We delve into a wide range of topics, including the truth about menopausal weight gain and new weight loss drugs. (CNN) — With dieting, the conventional wisdom says a person needs to be in calorie-deficit mode to lose weight. If you eat more calories than you burn, you gain weight; if you eat fewer calories, you lose weight. — some people will lose weight, and others will gain. Show yourself some compassionAcknowledge it’s not easy to change eating habits to lose weight.

Persons: Sanjay Gupta, ” Christopher Gardner, Farquhar, Gardner, ” Gardner, ”, you’re, “, ‘, Don’t, it’s, Jameela Jamil Organizations: CNN, Stanford University, Stanford Prevention Research, JAMA, Netflix, American Heart Association, American College of Cardiology, Obesity Society

☆ Why increasingly popular Zyn nicotine pouches concern health experts
▼ + stars: | 2024-04-03 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +10 min

Are nicotine pouches better than vaping? Zyn, among other brands of nicotine pouches such as Rogue, On! However, FDA officials have allowed the nontobacco nicotine product to stay on the market while the application is under review. Nicotine pouches have varying degrees of nicotine strength; 3 or 6 milligrams per pouch is most common, but some brands have pouches that contain upward of 28 milligrams. What’s more, the Zyn nicotine pouches come in a variety of flavors, including cool mint, wintergreen, coffee and cinnamon, that could be appealing to younger people.

Persons: Philip Morris, Chuck Schumer, ”, Kecia Christensen, “, ’ ”, Christensen, Philip Morris International’s, ” Philip Morris, Meghan Moran, ” Moran, Brian King, Yanfang Ren, ” Ren, Moran Organizations: CNN, Philip Morris International, Facebook, Federal Trade Commission, Food and Drug Administration, American Cancer Society, Nebraska Medicine, FDA, National Cancer Institute, CDC, Centers for Disease Control, ” Philip Morris International, Swedish, Johns Hopkins Bloomberg School of Public Health, Tobacco Survey, FDA’s Center for Tobacco Products, University of Rochester Eastman Institute for Oral Health, Philip Locations: United States, ”, Baltimore, New York, Mayo

☆ EU-China trade relations are in a 'slow-motion train accident,' business group says
▼ + stars: | 2024-03-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.

Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S

☆ An accountant who works with top YouTubers shares 3 money-management strategies for freelancers and influencers
▼ + stars: | 2024-03-14 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

As an accountant and business advisor for creators, his day-to-day life is made of numbers, spreadsheets, and "boring," "compliance-driven" tasks. Uwins began doing taxes for creators and influencers in the early 2010s, when making money online was still relatively new. In 2021, he cofounded Arcade Media, a talent-management company that works exclusively with the YouTube group the Sidemen. He's helped develop products with the YouTubers, like fried-chicken chain Sides, vodka brand XIX, and their most recent venture, a company making breakfast products called Best Breakfasts. Build a business structure as soon as you start making moneyCreators should have a registered business regardless of how much money they're making, Uwins said.

Persons: —, Sam Uwins, Uwins, Patricia Bright, He's, Sidemen, wean, it's, Uwin Organizations: Service, Business, Arcade Media, YouTube

☆ The new office ritual? Zyn nicotine pouches
▼ + stars: | 2024-03-13 | by ( Sarah Jackson | Tim Paradis | ) www.businessinsider.com time to read: +9 min

AdvertisementShipments of the nicotine pouches in the US in 2023 were up 62% year-over-year. Zyn pouches have found favor with everyone from high-powered Wall Street traders to Tucker Carlson and GOP lawmakers. But after not using nicotine for a while, he wasn't prepared for the hit he got when he popped a 6 mg pouch of Zyn. AdvertisementPalmer sees using Zyn as an important part of his ritual around essential work. "If I could go back and never start using nicotine, I would."

Persons: Clay Coomer, Coomer, Coomer isn't, —, Clay, Zyn, Philip Morris, Tucker Carlson, Raymond Niaura, Niaura, there's, Nate Palmer, wasn't, Palmer, he's, it's, I've, Chandler, I'm, Sam Dashiell, Dashiell, JUULs Organizations: Service, Business, Philip Morris International, Swedish, GOP, New York University, FDA, Labs

☆ It's a do-or-die moment for debt-riddled Warner Bros. Discovery's live-sports strategy as it vies for NBA rights
▼ + stars: | 2024-03-08 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

WBD generated $6.2 billion of free cash flow through 2023 and likely shelled out around $1.4 billion of that for NBA games. Analysts estimate that figure would be closer to $2 billion if WBD re-ups its NBA package. WBD wants a big NBA deal, despite Wall Street's wishesSixteen months ago, Zaslav said WBD didn't "have to have" the NBA. NBA ratings have been lackluster lately, with national TV games averaging 1.6 million viewers in the last two seasons. Zaslav's latest public remarks on the NBA negotiations reflect that.

Persons: —, Shaquille O'Neal, Charles Barkley, Tim Nollen, Max, Jason Bazinet, WBD, David Zaslav, it's, Jessica Reif Ehrlich, Wall, Zaslav, John Hodulik, Chuck, Ernie Johnson Organizations: Service, Basketball Hall of Famers, NBA, TNT, ESPN, Warner Bros, Business, Media, Amazon, NBC, Comcast, Apple, Netflix, WWE, Macquarie, Disney, Fox, Cable, Citigroup, Warners, of America, Street, Zaz, UBS Locations: Shaq

☆ 4 reasons why Wall Street fears that Nvidia's hard-earned gains could go up in smoke
▼ + stars: | 2024-02-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

In the last 15 months, Wall Street analysts have hailed generative AI as the most impactful innovation in decades and compared its theoretical impact to that of the internet. While the full impact of AI isn't clear yet, companies are under immense pressure to convince investors that they're not falling behind. "We can't envision any of these large cloud companies or consumer companies pulling back on AI spending anytime soon," Colello said. UBS"This is not always a harbinger of slowing revenue growth and a concentrated H200/B100 launch could be adding to near-term opex," Arcuri wrote in a recent note. AdvertisementDespite what Nvidia's recent performance suggests, Wall Street is notoriously tough to please.

Persons: —, Morgan Stanley, Steve Sosnick, Wedbush's Dan Ives, who's, Marcelli, they're, Sosnick, Brian Colello, Colello, They're, we're, Vivek Arya, Arya, Michael Landsberg, Landsberg, Jason Draho, Draho, Timothy Arcuri, Arcuri Organizations: Service, Wall Street, Business, Nvidia, Interactive, Bulls, Bank of America, Wedbush Securities, UBS, UBS Global Wealth Management, Morningstar, Landsberg Bennett, Wealth Management

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

☆ For $350, you too can have glasses with 'AI superpowers' (and look like a modern-day Gandhi)
▼ + stars: | 2024-02-11 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Brilliant Labs — a Singapore-based startup funded by the creator of Pokemon Go — just released Frame, a $350 pair of non-prescription glasses powered by a multimodal AI assistant called Noa. The glasses project visuals and information directly onto the lenses, so wearers can prompt them with requests for information about almost everything they see or hear. Frame projects visuals and information directly onto the lenses of the glasses. Similarly, the glasses can query both available live web sources and GPT-4 for nutritional information, Tavangar said. The AI startup Humane launched a nearly $700 Ai Pin in November that combines voice command with AI to answer questions, summarize texts, translate languages, and play music.

Persons: —, Noa, they’re, John Lennon, Steve Jobs, Gandhi, Justin Sullivan, OpenAI’s, Bobak Tavangar, Tavangar, ” Tavangar, Pin Organizations: Service, Business, Staff, Labs, buzzy Locations: Singapore

Increasingly, voters are demanding that the men vying to succeed him address the tradeoffs between fast growth and a healthy environment in the world's fourth most populated country. In recent years, surging commodity prices have fueled fast economic growth and helped Indonesia become a middle-income country. That growth is expected to slow as the boom loses steam, according to a World Bank report. “That means, if the government forces its development, it will involve inefficient and unproductive allocation of resources.”Another campaign issue: food estate programs, massive plantations the government set up to fortify national food security. INDONESIA’S ENERGY TRANSITIONIn 2021, coal-rich Indonesia was the world’s ninth-largest source of carbon emissions that are causing global warming, according to a report by the International Energy Agency.

Persons: —, Joko Widodo, It's, Joko Widodo —, Prabowo Subianto, Josua Pardede, ”, Arianto Patunru, Baswedan, Bhima Yudhistira Adhinegara, El Organizations: Permata Bank, EV, Australian National University, of Economic, Law Studies, International Energy Agency, World Bank, Youth, Bank, El Nino, AP Locations: JAKARTA, Indonesia, Jakarta, Nusantara, Borneo, Anies, Central Java, Widodo, Washington, Kalimantan

☆ Why the Cost of Biden’s Climate Law Keeps Going Up
▼ + stars: | 2024-02-08 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

The estimated price tag for President Biden’s clean-energy and climate agenda has effectively doubled since the Inflation Reduction Act was signed into law a year and a half ago. That rising price tag may actually be good for reducing greenhouse gas emissions — and for the U.S. economy. The Inflation Reduction Act, which Democrats passed on a party-line vote in summer 2022, includes tax credits and other subsidies for low-emission energy technologies that are meant to help wean the nation from fossil fuels. The uncapped credits include incentives for manufacturers to build solar-panel or wind-turbine factories, and for consumers to buy electric vehicles. Budget scorekeepers have to estimate how popular those credits will be, in order to forecast how much they’ll cost.

Persons: Biden’s, Biden Locations: U.S

☆ Why a Donald Trump presidency could cause an inflation spike
▼ + stars: | 2024-01-30 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWe've heard about may factors that could spark a renewed bout of inflation: Red Sea tumult, cash sitting on the sidelines, etc. According to analysts at Macquarie, if Donald Trump wins in 2024, it could pose an "inflationary threat" to the US economy. A big part of that risk has to do with "Trumponomics," specifically with regards to the former President's trade policy. The Fed's January meeting is scheduled this week where chairman Jerome Powell is expected to announce the central bank's policy stance.

Persons: —, Donald Trump, Thierry Wizman, Trump, Wizman, Jerome Powell Organizations: Service, Trump, Business, Macquarie, Republican, Fed Locations: China

☆ Biden pauses approval of new LNG export projects in win for climate activists
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: +4 min

President Joe Biden paused pending approvals of exports from new liquefied natural gas projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the Nov. 5 election. Biden said in a statement: "During this period, we will take a hard look at the impacts of LNG exports on energy costs, America's energy security, and our environment." "We are committed to strengthening energy security here in the U.S. and with our allies," Granholm said. The last review of LNG export projects was in 2018 when export capacity was 4 billion cubic feet per day (bcfd). But the commission's panel of three regulators, which almost always approves LNG projects, could approve it as soon as February, which would then put its approval in the hands of the DOE.

Persons: Joe Biden, Jennifer Granholm, Biden, Granholm, Ben Jealous, Sempra, CP2 Organizations: US Department of Energy, Department of Energy, DOE, Energy, Companies, U.S, Sierra, Sempra Infrastructure, Commonwealth LNG, Venture, Federal Energy Regulatory Commission, Venture Global Locations: Washington ,, Europe, Asia, U.S, wean, Russia, Ukraine, Louisiana, Alaska, Calcasieu, United States, Germany

JERUSALEM (AP) — A liquor store has opened in Saudi Arabia for the first time in over 70 years, a diplomat reported Wednesday, a further socially liberalizing step in the once-ultraconservative kingdom that is home to the holiest sites in Islam. The store sits next to a supermarket in Riyadh's Diplomatic Quarter, said the diplomat, who spoke on condition of anonymity to discuss a socially sensitive topic in Saudi Arabia. Saudi Arabia remains one of the few nations in the world with a ban on alcohol, alongside its neighbor Kuwait and Sharjah in the United Arab Emirates. Saudi Arabia has banned alcohol since the early 1950s. As Saudi Arabia prepares for a $500 billion futuristic city project called Neom, reports have circulated that alcohol could be served at a beach resort there.

Persons: Prince Mohammed bin Salman, Jamal Khashoggi, King Abdulaziz, Prince Mishari, Cyril Ousman Organizations: JERUSALEM, Washington Post, Workers, Saudi, Arab News, Saudi Research, Media, U.S . State Department, United Locations: Saudi Arabia, Islam, Riyadh, Saudi, haram, Islam . Saudi Arabia, Kuwait, Sharjah, United Arab Emirates, Jeddah, Mecca, Neom

☆ I'm a widow who sold everything to move from Texas to Lake Como. I decided long ago that I wouldn't let fear dictate my life.
▼ + stars: | 2024-01-23 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +6 min

AdvertisementThis as-told-to essay is based on a conversation with Judy Walling, a 68-year-old retired real-estate agent living in Italy. I'm a retired widow with no children, but I decided long ago that I wouldn't miss out on anything just because I don't have a partner. I booked another group trip to Italy and then bought a Eurail passWalling. I took a group trip to Italy in August 2019 with 10 people and took side trips to get my feet wet. After the group trip, I took my pass and traveled all over Italy.

Persons: Judy Walling, —, Bill Walling, I'm, Walling, it's, Julia Roberts, Ugh, I've Organizations: Service, Kansas City, Lake Locations: Italy, Como, Iowa, Kansas, Florida, Santa Fe , New Mexico, Europe, France, Austin, Munich, Svinná, Czech Republic, Bellagio, Lake Como, Texas, Costa Rica, Missouri

☆ Red Sea crisis: Why escalating violence in the Middle East isn’t pushing up gas prices
▼ + stars: | 2024-01-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

The prices of a barrel of Brent crude, the global oil benchmark, and West Texas Intermediate, the US oil benchmark, have barely moved. Now, however, analysts say economic factors — weaker demand in countries such as China and Germany, ample oil and gas supply — are superseding concerns about violence in the Middle East. Al Drago/Bloomberg/Getty ImagesGlobal oil demand growth is expected to almost halve this year, the International Energy Agency said in a report Thursday. At the same time, global oil supply is forecast to hit an all-time high, driven by record output from countries including the United States and Canada, the IEA said. Nan said relatively modest demand was also helping to prevent spikes in gas prices.

Persons: Brent, “, Homayoun, “ It’s, ”, Hope, Al Drago, That’s, Falakshahi, Xi Nan, Kpler, Wood Mackenzie, Nan Organizations: London CNN, Hamas, West Texas Intermediate, AAA, CNN, National Bureau of Statistics, Bloomberg, Getty, International Energy Agency, Organization of, Petroleum, Rystad Energy, Gas Infrastructure, LNG “ Locations: Red, Iran, Pakistan, Gaza, Ukraine, China, Germany, South Africa, Washington , DC, United States, Canada, Russia, OPEC, Europe, wean, Gas Infrastructure Europe, Africa, Qatar, United Kingdom

☆ VCs are getting pickier about their weight-loss bets as startups rush to prescribe Ozempic
▼ + stars: | 2023-12-11 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

Read previewWith the Ozempic craze in full swing, investors are getting picky about the weight-loss startups they want to back. Kaganoff predicted that in the new year some startups prescribing GLP-1s would invest more money in studies using real-world evidence to show their programs work. And despite the Ozempic frenzy, weight-loss startups captured a tiny fraction of the money invested this year. Investors had put about $211 million toward weight-loss startups through mid-November, representing about 3% of digital-health funding over that period, according to PitchBook. Alfie HealthSome unlikely sectors of the healthcare industry stand to benefit from the growth of the weight-loss market.

Persons: —, Sari Kaganoff, Crystal Cox, Kaganoff, Ro, VCs, Michael Greeley, Alyssa Jaffee, 7wireVentures, she's, she'd, Mounjaro, Mercer, Michael Siluk, PitchBook, Alfie Health, it's, Alfie's cofounders, Aaron DeGagne, Jordan, he'd, DeGagne, There's Organizations: Service, Business, Rock Health, Flare Capital Partners, Getty, Employers, Health, Investors, Phenomix Sciences, Mayo Clinic, PitchBook, Tusk Venture Partners, Sword Health Locations: GLP

☆ Iberdrola and Masdar to invest $16 billion in green energy
▼ + stars: | 2023-12-05 | by ( Pietro Lombardi | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Iberdrola SA FollowRwe Ag FollowMADRID, Dec 5 (Reuters) - Spanish renewable energy giant Iberdrola (IBE.MC) and UAE clean energy developer Masdar have formed a 15 billion euro ($16.2 billion) alliance to invest in offshore wind and green hydrogen in countries including Germany, Britain and the United States. The agreement announced on Tuesday follows a pledge by 118 countries at the COP28 climate summit in Dubai to triple the world's renewable energy capacity by the end of the decade as they seek to wean themselves off fossil fuels. "Reaching this goal will require immediate action from these governments and the private sector," said Iberdrola Executive Chairman Ignacio Galan. "With an abundance of wind resources, the UK and Europe are prime markets for Masdar," said Masdar Chief Executive Mohamed Jameel Al Ramahi. Last week Masdar and Germany's RWE (RWEG.DE) said they would co-develop a 3 GW wind project off the coast of Britain.

Persons: Dado Ruvic, Ignacio Galan, Mohamed Jameel Al Ramahi, Germany's, Iberdrola, Pietro Lombardi, Jakub Olesiuk, Kirsten Donovan, David Goodman Organizations: REUTERS, East Anglia, Masdar, China, Thomson Locations: MADRID, UAE, Germany, Britain, United States, Dubai, Iberdrola's, East, Spanish, Europe, Baltic

☆ Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. The programme has so far attracted 200 foreign companies, Saudi Investment minister Khaled Al-Falih was quoted as saying. "The new tax exemptions granted on regional headquarters activities will give .... international companies in the kingdom more clarity of vision and stability," Saudi Finance Minister Mohammed Al-Jadaan said, according to SPA. Foreign companies have scrambled to meet the Saudi condition to relocate their regional headquarters after the kingdom said in October the deadline will be enforced. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia.

Persons: Finance Mohammed Bin Abdullah Al, Jadaan, Jan, Prince Mohammed bin Salman, Khaled Al, Falih, Mohammed Al, ” Jadaan, Aziz El, Bill Berkrot Organizations: Finance, Ministers, Central Bank Governors, Rights, United, United Arab Emirates, International, Saudi Investment, Saudi Finance, Games, , Thomson Locations: Saudi, Nusa Dua, Bali, Indonesia, Rights RIYADH, Saudi Arabia, United Arab, United Arab Emirates

REUTERS/Russell Cheyne/File Photo Acquire Licensing RightsSummaryCompanies Saudi Arabia's PIF buys into Rocco Forte hotel groupPlans to help expand luxury hotel groupItalian investor CDPE checks out of chainDec 4 (Reuters) - Saudi Arabia's PIF sovereign wealth fund will buy a 49% stake in luxury hotel group Rocco Forte Hotels and help to support its expansion, the owner of Britain's Balmoral hotel said on Monday. A spokesperson for Rocco Forte Hotels declined to confirm the size of PIF's stake. Rocco Forte Hotels, founded in 1996, operates across Italy, Britain, Germany, Belgium and Russia and has 20 private villas in addition to its hotels. CDPE, which owned a 23% stake in Rocco Forte Hotels, is owned by Italy's state-backed fund CDP. Rocco Forte, which was advised by Rothschild, reported revenues of around 300 million pounds last fiscal year, with a core profit of around 60 million pounds, according to a source.

Persons: Russell Cheyne, Companies Saudi Arabia's PIF, Rocco Forte, CDPE, Olga Polizzi, Forte, Rocco Forte Hotels, Al Nowaiser, PIF, Rothschild, Yadarisa, Elisa Anzolin, Keith Weir, Dhanya Ann Thoppil, Nivedita Bhattacharjee, Alex Richardson Organizations: REUTERS, Companies Saudi Arabia's, Saudi Arabia's, Rocco Forte Hotels, Financial Times, Granada, Thomson Locations: Balmoral, Scotland, Edinburgh, Britain, Saudi, Italy, Germany, Belgium, Russia, Milan, Sardinia, Italy's, SAUDI ARABIA, Saudi Arabia, Bengaluru, London

☆ Rift Over Fossil Fuels to Dominate COP28
▼ + stars: | 2023-12-01 | by ( Stacy Meichtry | Matthew Dalton | ) www.wsj.com time to read: 1 min

Leaders from the United Arab Emirates, the host of COP28, on the opening day of the summit in Dubai. Photo: Hollie Adams/Bloomberg NewsDUBAI—World leaders gathered for climate talks in this oil-rich corner of the globe amid sharp divisions over how quickly governments need to wean their economies off fossil fuels to prevent the planet from blowing past the Paris accord’s temperature targets. Vice President Kamala Harris was expected to join Brazilian President Luiz Inácio Lula da Silva , French President Emmanuel Macron and a host of leaders from across the Gulf region Friday at the start of a two-day summit to kick off the United Nations’ annual climate talks, known as COP28.

Persons: Hollie Adams, Kamala Harris, Luiz Inácio Lula da Silva, Emmanuel Macron Organizations: United Arab Emirates, Bloomberg News DUBAI —, Brazilian, United Nations Locations: Dubai, Paris, Gulf

☆ U.S. to limit Chinese firms, battery parts from winning EV tax credits
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +3 min

The Biden administration on Friday issued long-awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. The FEOC rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. Treasury said the few materials being exempted each account for less than 2% of the value of battery critical minerals. The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits. Earlier this year, new battery and mineral sourcing requirements took effect with price and buyer income eligibility caps from Jan. 1.

Persons: Joe Biden, Biden, General Motors, Ford, Marco Rubio, Joe Manchin Organizations: U.S, Treasury, Alliance, Automotive Innovation, General, Ford, Energy Department, Companies, Energy Locations: Washington , DC, China, Michigan, North Korea, Russia, Iran, North America

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