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☆ Mojave Desert: How a seed bank in southern California is preserving an ancient ecosystem under threat
▼ + stars: | 2024-05-23 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +9 min

The result was the Mojave Desert Land Trust seed bank. In 2016, Mojave Desert Land Trust officially launched the seed bank project, which has since been described as a “Noah’s Ark” for southern California. A jar of seeds sits in one of three full refrigerators at the Mojave Desert Land Trust headquarters in Joshua Tree, California. Beau Molloy/CNN“We’ve already been able to provide seed to researchers who are studying the effects of climate change on specific species that we have in our seed bank,” Asbell adds. Beau Molloy/CNNRoughly 70,000 Joshua tree seeds are currently preserved in the seed bank, some of which could be planted in cooler locations, if needed.

Persons: birdsong, Madena Asbell, “, ” Asbell, Asbell, Beau Molloy, Kelly Herbinson, ” Herbinson, hasn’t, Corina Godoy, Gerber, MDLT, CNN “ We’ve, Joshua, It’s, Seuss, Herbinson, ”, ” CNN’s Adeline Chen Organizations: CNN, Land Trust, MDLT, Land, Mojave, Conservation Board Locations: California, Texas, Colorado, Mojave, Joshua Tree , California

☆ Nvidia's demand is broadening and still exceeds supply, says BofA Securities' Vivek Arya
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's demand is broadening and still exceeds supply, says BofA Securities' Vivek AryaVivek Arya, Bank of America Securities senior semiconductor analyst, joins 'Squawk Box' to discuss Nvidia's quarterly earnings results, how long Nvidia can sustain its competitive advantage, and more.

Persons: Vivek Arya Vivek Arya Organizations: BofA, Bank of America Securities

☆ Shock summer election in Britain predicted to deliver 'historic' result
▼ + stars: | 2024-05-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024. News of the vote came as a surprise to the public, the media and much of Sunak's own party. 'As good as it gets'Bronwen Maddox, director of Chatham House think tank, said the election date had shocked many Conservatives who thought it would be held nearer to the U.S. election in November. Market bets on an interest rate cut in the summer fell as a result, and it now looks unlikely the central bank will cut on June 20, its last meeting before the election. So if that translates to a general election as well, then that Labour landslide is looking much less certain."

Persons: Rishi Sunak, Sunak, Price, Bronwen Maddox, I'm, Maddox, Rachel Reeves, Sir Keir Starmer, Angela Rayner, Leon Neal, James, Hannah Bunting, CNBC's, Tony Blair, John Major, Bunting, we've Organizations: British, Anadolu, Getty, Conservative Party, Conservatives, Labour Party, Downing, Bank of England, Chatham House, CNBC, Bank of England's, Labour, Centre, University of Exeter Locations: London, United Kingdom, U.K, Europe, Gaza, Rwanda, Purfleet

☆ James Gorman is bringing his 18-year stint at Morgan Stanley to an end
▼ + stars: | 2024-05-23 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Morgan Stanley chairman James Gorman is stepping down at the end of the year. The former CEO revealed his plans at the bank's annual shareholder meeting. Gorman joined Morgan Stanley in 2006 and helped steer the bank through the financial crisis. AdvertisementJames Gorman will leave Morgan Stanley at the end of 2024, bringing an 18-year stint at the investment bank to a close. The chairman revealed his plans on Thursday at the bank's annual meeting, outlets including Bloomberg and Reuters reported.

Persons: Morgan Stanley, James Gorman, Gorman, —, Ted Pick Organizations: Service, Bloomberg, Reuters, Business

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Ford, Super Micro, Wendy's, Hasbro, Take-Two, Wynn & more
▼ + stars: | 2024-05-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $1,320 per share from $1,100 following earnings. Deutsche Bank initiates Freshpet a buy Deutsche said it sees "multiple structural tailwinds" for shares of the pet food and health company. Deutsche Bank initiates BellRing Brands as buy Deutsche said it sees a long runway for growth for the food company. " Deutsche Bank initiates Legend Biotech as buy Deutsche said it's bullish on the biotech company's multiple myeloma drug Carvykti. Bank of America reiterates Super Micro Computer as buy Bank of America said Nvidia's earnings report on Wednesday bode well for companies like Super Micro.

Persons: Bernstein, Ford, Morgan Stanley downgrades NetEase, Morgan Stanley, Evercore, BRBR, Wedbush, Jefferies, GDRX, Oppenheimer, Armour, Kevin, Dell, Chubb, Stephens, FHN, Tesla, Argus, it's bullish, bode Organizations: " Bank of America, Nvidia, Bank of America, Deutsche Bank, Deutsche, BellRing Brands, JPMorgan, Hasbro, RBC, Norfolk Southern, NSC, GE Vernova, GE, UBS, Eastman Chemical, Eastman, SAP, underperform Bank of America, Berkshire Hathaway's, of America, Rockstar Games, NextEra Energy Partners, Argus, Wynn, Biotech, Computer Locations: U.S, China, Berkshire, Macau, Las Vegas, 2H24

☆ Gold prices drift lower on hawkish Fed minutes
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended their record rally on Monday, supported by speculative buying and continued tensions in the Middle East, which overshadowed strong U.S. job growth in March. Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. Spot gold fell 0.3% at $2,370.74 per ounce, as of 0335 GMT, after falling more than 1% in the previous session. "Gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent," said Tim Waterer, chief market analyst at KCM Trade. Spot silver fell 0.8% to $30.52, platinum edged 0.2% lower to $1,032.54 and palladium dropped 1.1% to $988.25.

Persons: Bullion, Tim Waterer, Waterer Organizations: Reserve, KCM, Fed, Traders, Reuters Locations: ., U.S

Morgan Stanley accompanied the move by cutting its price target to $100 from $120. His $185 price target, up from $160, forecasts that shares of Take-Two could rally 23% from Wednesday's close. — Lisa Kailai Han 5:55 a.m.: Bernstein initiates Ford at an outperform rating Investors who don't own Ford are missing out, according to Bernstein. — Lisa Kailai Han 5:55 a.m.: JPMorgan upgrades Hasbro Don't expect Hasbro's momentum to slow in the near future, according to JPMorgan. It also raised its price target on shares to $74 from $61, implying upside of 22%.

Persons: Bernstein, Morgan Stanley downgrades NetEase, Morgan Stanley, Alex Poon, Poon, Lisa Kailai Han, Omar Dessouky, Dessouky, — Lisa Kailai Han, Sam Poser, Sean Dodge, Dodge, GoodRx, Ford, Daniel Roeska, Roeska didn't, Roeska, Christopher Horvers, Fred Imbert Organizations: CNBC, Ford, JPMorgan, Hasbro, NetEase, Bank of America, Rockstar Games, Rockstar, Supreme, Corp, Trading, EMEA, Timberland, RBC, RBC Capital Markets, pharma, Kroger Locations: China, Wednesday's, Americas

☆ Oil prices fall on worries of higher U.S. interest rates
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +2 min

An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand. Brent crude futures fell 27 cents, or 0.3%, to $81.63 a barrel at 0004 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 35 cents, or 0.5%, at $77.14. Higher interest rates boost borrowing costs, crunching funds that could boost economic growth and oil demand.

Persons: Brent Organizations: Brent, . West Texas, Federal, Energy Information Administration, Organization of, Petroleum, Secretariat, Russian Energy Ministry, Wednesday, Citi Research, Citi Locations: Cushing , Oklahoma, U.S, Russia, OPEC

☆ CNBC Daily Open: Nvidia shares top $1,000 on AI boom
▼ + stars: | 2024-05-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia to split stock, sales to soarShares of Nvidia rose more than 7%, topping $1,000 for the first time, in after-hours trading after its first-quarter earnings and sales beat analysts' expectations. The company plans to split its stock 10 for 1. The media outlet went public in 2021 and has seen its shares fall 94% since then.

Persons: OpenAI, Vivek, Vivek Ramaswamy, Ramaswamy, Goldman Sachs Organizations: CNBC, Nvidia, Dow Jones, Nasdaq, Dow, Google, GOP, Securities and Exchange Commission

☆ 'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout
▼ + stars: | 2024-05-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Nvidia stock soared 9% on Thursday to record highs after its reported earnings. The company defied analyst expectations yet again, and said that demand for its AI chips continues to outstrip demand. Wall Street analysts were impressed by the results, with a slew of price target increases hitting the tape Thursday morning. Wedbush: "AI revolution just getting started"Analysts at Wedbush said the "AI gold rush" is just getting started as a "tidal wave" of spending on AI chips hits the entire tech sector. The AI Revolution starts with Nvidia and in our view the AI party is just getting started with the popcorn getting ready."

Persons: —, Goldman Sachs, it's, Nvidia's, Blackwell, Wedbush, AI Jensen Organizations: Service, Nvidia, Wall Street, Center, Data Center, Data, Blackwell, JPMorgan, Meta, Bank of America Locations: 2HCY24, CY25, CY24

☆ Hedge funds loaded up on financial and tech stocks in the first quarter—Here's what they picked
▼ + stars: | 2024-05-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.

Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast

☆ Asia markets in mixed territory after Fed raises concern over 'persistent' inflation
▼ + stars: | 2024-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty ImagesAsia-Pacific markets were mixed after minutes from the last U.S. Federal Reserve meeting revealed that Fed officials have grown more concerned about inflation, with members indicating they lacked confidence to move forward on interest rate reductions. In Asia, investors will assess flash business activity data from Australia and Japan, as well as Singapore's final first quarter gross domestic figures. South Korea's central bank will be announcing its policy rate decision today. Analysts polled by Reuters expect the Bank of Korea to hold its benchmark lending rate at 3.5%, although a note from ING last week said the meeting will still be closely watched, "as two new members have joined the [BOK's] board since the last meeting and it will be interesting to see if this has changed the view of the board."

Persons: SeongJoon Cho Organizations: Korea Exchange, Bloomberg, Getty Images, Federal Reserve, Reuters, Bank of, ING Locations: Seoul, South Korea, Getty Images Asia, Pacific, U.S, Asia, Australia, Japan, Korea's, Bank of Korea

☆ Stock market today: Indexes pop after Nvidia's blowout earnings report
▼ + stars: | 2024-05-23 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Stocks jumped Thursday with investors feeling buoyant after Nvidia's big first-quarter earnings report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks moved higher on Thursday, with investors cheering another blowout earnings report from chip giant Nvidia. The company, whose chips are at the heart of the artificial intelligence boom, beat on both revenue and earnings. It reported $26.04 billion in revenue versus analyst estimates of $24.65 billion, and earnings per share of $6.12, compared to estimates of $5.59.

Persons: Stocks, Raphael Bostic, —, Blackwell, AI Jensen, Dan Ives Organizations: Atlanta Fed, Service, Nvidia, Securities, Microsoft, Atlanta Federal Reserve, Here's

☆ JPMorgan's private bank is launching a generative AI tool. A top exec walks us through her tech strategy and how she wants to transform bankers' jobs.
▼ + stars: | 2024-05-23 | by ( Bianca Chan | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

JPMorgan is testing a generative AI "copilot" within its private bank, a move that is already saving advisors a couple of hours a day. AdvertisementHow Donnelly's team drives innovation in the private bankJPMorgan's private bank caters to clients with at least $10 million in assets. The unit's $974 billion in assets are managed by just over 3,500 client advisors. When the CEO of JPM's private bank tapped an advisor with little to no technical experience to lead digital product for his division, it was intentional. He didn't "want the individuals that are deciding the advisor experience and client experience not to sit amongst the front-office users," she said.

Persons: Karen Donnelly, Donnelly, Morgan Stanley, Mary Erdoes, Dan Pinto's, JPMorgan's, She's, aren't, David Frame, —, Donnelly doesn't, gunning Organizations: Service, JPMorgan, Business, Advisors, ChatGPT

☆ JPMorgan says China can't be ignored: 'you have to do business there'
▼ + stars: | 2024-05-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

"You can't ignore it, you have to do business there, even if you decide not to do business there, you need to understand what's going on," Leenart said, adding that what happens in China "influences every industry around the world." In terms of purchasing power parity, China currently accounts for 19% of global GDP and 48% of Asia's GDP . China is too big to be sidelined, and investors "have to do business there," JPMorgan Asia Pacific CEO Sjoerd Leenart said Thursday, adding that the country had emerged as the second world power. Given how extensively China is linked with the region, Leenart emphasized that there needs to be "good activity" in China in order to have a buoyant investment banking business. "I think that [China] have a lot to sell to the world, and that product will be needed all over the world," said Leenart, adding that he sees a lot of opportunity in China.

Persons: Leenart, CNBC's, Sjoerd Leenart, We've Organizations: JPMorgan Chase &, CNBC's Sri, Global China Summit, JPMorgan Asia Pacific, Investors, China's National Bureau of Statistics, Reuters, Wilson Locations: New York, United States, China, CNBC's Sri Jegarajah, Shanghai . China, Asia, Japan, South Korea, Taiwan, Vietnam

☆ Yellen Warns Israel Against Cutting off Palestinian Banks
▼ + stars: | 2024-05-23 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

Treasury Secretary Janet L. Yellen warned Israel on Thursday against cutting off ties between Palestinian and Israeli banks, arguing that such a move would further destabilize the economy of the West Bank at a time when Palestinians are already facing dire economic conditions. Ms. Yellen’s comments came in the wake of Israel’s decision on Wednesday to withhold tax revenue from the Palestinian Authority in retaliation for three European countries unilaterally agreeing to recognize a Palestinian state. Ms. Yellen and other top economic officials from the Group of 7 nations are expected to discuss the matter and the humanitarian situation in Gaza during their summit in Stresa, Italy, which begins on Thursday. “I’m particularly concerned by Israel’s threats to take action that would lead to Palestinian banks being cut off from their Israeli correspondent banks,” Ms. Yellen said during remarks ahead of a news conference. Ms. Yellen added that the banking channels were critical for processing transactions that allow $8 billion a year of imports of food, fuel and electricity from Israel and $2 billion of Palestinian exports.

Persons: Janet L, Yellen, Israel, Yellen’s, “ I’m, Ms Organizations: West Bank, Palestinian Authority Locations: Palestinian, Gaza, Stresa, Italy, Israel

☆ Oil prices bounce back after three-day decline but still on pace for weekly loss
▼ + stars: | 2024-05-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures bounced back Thursday after a three-day decline but are still on pace for a weekly loss. U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, is down 1.8%. Traders are also worried about a buildup in global oil inventories after a mild winter in parts of the Northern Hemisphere, Staunovo told clients in a note Thursday. Nevertheless, UBS sees the oil market in a deficit and is forecasting Brent will rise to $91 per barrel in coming months. The bank also sees healthy demand growth of 1.5 million barrels per day in 2024, above the long-term growth rate of 1.2 million barrels per day.

Persons: Brent, Giovanni Staunovo, Staunovo Organizations: Midland, UBS, Traders, Northern Locations: Odessa, Texas, U.S

☆ Walmart and Target are slashing prices. What does that mean for inflation?
▼ + stars: | 2024-05-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That doesn’t mean the battle against inflation is won. Walmart saw first-quarter sales at stores open at least a year climb 3.8% from the prior year, in part thanks to its ability to keep prices low even as inflation remains sticky. “Our combination of everyday low prices plus a large number of rollbacks is resonating” with consumers, Walmart CEO Doug McMillon said on a call with analysts. Investors will get more inflation data next week from the Personal Consumption Expenditures index for April. Without that discount, the combined fine would have topped £88 million ($112 million).

Persons: Doug McMillon, Price, we’re, ”, Preston Caldwell, Scarlett Johansson, Will Scarlett Johansson, OpenAI, Johansson, OpenAI’s, Sam Altman, Brian Fung, OpenAI didn’t, Anna Cooban, “ Organizations: CNN Business, Bell, New York CNN, Walmart, Ikea, Aldi, Morningstar Research Services, Bureau of Labor Statistics, Investors, Citi, Citigroup, Financial Conduct Authority, Bank of England’s Prudential, Authority, CNN Locations: New York, United States

☆ John Malone may still sell the Atlanta Braves, and its stock rallies 40%, Rosenblatt says
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Investors can still bank on a share-boosting sale of Atlanta Braves Holdings , according to Rosenblatt Securities. In a report out on Wednesday, Rosenblatt analyst Barton Crockett brushed off remarks from Liberty Media chairman John Malone late last week that the Braves were "not for sale." Liberty Media owns 17% of the Braves' Series C non-voting shares that trade under ticker symbol BATRK, Malone another 6% and Braves and Liberty Media CEO Gregory Maffei some 2.25%, according to FacSet data. Majority control of the Braves' voting stock remains in Malone and Liberty's hands. That date refers to the one-year anniversary of the Braves Holdings spinoff from Liberty Media in 2023.

Persons: Rosenblatt, Barton Crockett, John Malone, Crockett, Malone, Gregory Maffei, Liberty's, pining, David Joyce Organizations: Atlanta Braves Holdings, Rosenblatt Securities, Liberty Media, Braves, Braves Holdings, National League Division, Major League Baseball, ESPN, Seaport, National League Locations: Wednesday's, Malone

☆ Dollar hovers near highest in a week after hawkish Fed minutes
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +3 min

The yen l anguished just above a three-week low despite the continued threat of intervention by Japanese officials. The dollar index, which tracks the currency against six major rivals including the euro , sterling and yen, was little changed at 104.89 after gaining 0.28% overnight. The dollar was little changed at 156.77 yen after rising to 156.85 overnight, the highest since May 1. Traders and analysts suspect Japan's Ministry of Finance intervened several times to support the yen following its plunge to a 34-year low of 160.245 per dollar on April 29. Bigger rival bitcoin was little changed at $69,491 after reaching $71,957 on Tuesday for the first time since April 9.

Persons: Sterling, Ether, James Kniveton, Japan's, Rishi Sunak, bitcoin Organizations: Bank of Japan, Reserve, Federal, Traders, of Finance, Bank of England, Conservatives, Labour Party, Labour, Securities

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ This global private equity stock invested in Shein, Figma, Databricks, Discord, and ByteDance could rise by 40%, analysts say
▼ + stars: | 2024-05-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

HarbourVest Global Private Equity , a diversified listed private equity investment company, could see its share price rise by more than 40%, according to analysts at investment banks Peel Hunt and Jefferies. Richard Hickman, the managing director of HVPE, describes it as the "most diversified, listed private equity investment company in London." "We're a global fully diversified portfolio covering buyout funds, the more established businesses from small cap through medium to large cap." NAV represents the value of an investment fund's assets per share. They estimate that share buybacks at the current discount could result in a 1.4% uplift in net asset value per share.

Persons: Peel Hunt, Jefferies, Richard Hickman, HVPE, Hickman, Alan Brierley, Ben Newell, Warren, Buffett Organizations: HarbourVest Global, Equity, Peel, London Stock Exchange, CNBC, NAV, Jefferies, Investec Locations: London

☆ We hope to start easing interest rates in the fourth quarter: RBNZ governor
▼ + stars: | 2024-05-23 | 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 EmailWe hope to start easing interest rates in the fourth quarter: RBNZ governorAdrian Orr, governor of the Reserve Bank of New Zealand, says inflation is coming down but "we just don't want to call victory too early."

Persons: Adrian Orr Organizations: Reserve Bank of New Locations: Reserve Bank of New Zealand

☆ Denmark's Orsted wins $680 million JPMorgan backing for U.S. solar and battery projects
▼ + stars: | 2024-05-23 | by ( Pippa Stevens | ) www.cnbc.com time to read: +2 min

Aerial view of Eleven Mile Solar in Coolidge, Az. Put simply, large financial institutions provide part of the financing for a renewable energy project, in exchange for the project's tax credits. Smaller developers don't always have the means to enter into these partnerships, and the appetite from large financial institutions to take stakes in renewable energy projects is limited. That's "[s]till far short of what is needed in the post-IRA clean energy investment landscape," the investment bank Evercore ISI noted. Aerial view of Eleven Mile Solar in Coolidge, Az.

Persons: Az, Van Applegate, Orsted, Biden, —, Applegate Organizations: JPMorgan, U.S, Orsted's, IRA, American Council, Renewable Energy Locations: Coolidge, U.S, Coolidge , Arizona, Mineral , Texas, Nextracker

☆ What Trump 2.0 Could Mean for the Federal Reserve
▼ + stars: | 2024-05-23 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump relentlessly criticized the Federal Reserve and Jerome H. Powell, its chair, during his time in office. As he competes with President Biden for a second presidential term, that history has many on Wall Street wondering: What would a Trump victory mean for America’s central bank? The Trump campaign does not have detailed plans for the Fed yet, several people in its orbit said, but outside advisers have been more focused on the central bank and have been making suggestions — some minor, others extreme. Curbing the central bank’s ability to set interest rates without direct White House influence would be legally and politically tricky, and tinkering with the Fed so overtly could roil the very stock markets that Mr. Trump has frequently used as a yardstick for his success. But other aspects of Fed policy could end up squarely in Mr. Trump’s sights, both former administration officials and conservative policy thinkers have indicated.

Persons: Donald J, Trump, Jerome H, Powell, Biden Organizations: Federal Reserve, White

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