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☆ CIOs Nominate Their Favorite Reads of 2022
▼ + stars: | 2022-12-28 | by ( Tom Loftus | ) www.wsj.com time to read: +9 min

Chief information officers, ever alert to any development in a field that only hurtles forward, largely reflected that alacrity in their choice of reading during 2022. PREVIEWChris Bedi, chief digital information officer, ServiceNow Inc. Photo: IBM Corp.Ron Guerrier, chief information officer, HP Inc. Photo: Cisco Systems Inc.Fletcher Previn, chief information officer, Cisco Systems Inc. Photo: Home Depot Inc.Fahim Siddiqui, chief information officer, Home Depot Inc.

☆ FedEx cost cuts stanch losses, analysts see need for more
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

Shares in FedEx rose 4.7% to $172 at midday Wednesday, a level far below their 52-week high of $266.79. FedEx has been underperforming its unionized rival United Parcel Service (UPS.N), which is squeezing greater profit from its leaner, more streamlined operating structure. FedEx has outlined plans to integrate its disparate businesses, revive its long-troubled Europe operations and appease activist investor D.E. On Tuesday, FedEx issued a new 2023 profit forecast, signaling that it may be "finding the floor," Susquehanna analyst Bascome Majors said. Reporting by Lisa Baertlein in Los Angeles; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Morgan Stanley says the market is underestimating these 9 travel and leisure stocks for 2023 as the industry enters a 'Goldilocks' year with surging demand
▼ + stars: | 2022-12-15 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

But they will see more normalcy in 2023, Morgan Stanley says. But in 2023, things will get back to normal, Morgan Stanley analysts say, and investors are undervaluing stocks in the airline and hotel subsectors. The bank said the industries will be boosted by continued demand growth in business travel, and bigger travel budgets than existed in 2019. Below is data from a Morgan Stanley survey on corporate travel showing budget expectations for next year compared to 2019. Morgan StanleyThe analysts also expect Boeing, which manufactures airplanes, to benefit from increased flying demand.

☆ An ex-Adidas designer who helped launch Yeezy's is trying to make it easy for anyone to start a sneaker brand
▼ + stars: | 2022-12-15 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

Fctry Lab also will help smaller brands get products to market through consulting and possibly investments. Industry experts said Fctry Lab will give young sneaker companies easier access to the tools and expertise needed to get sneakers to market. "The alternative (to Fctry Lab) is get on a plane, go to China, and figure it out." Eventually, Fctry Lab could be turning out small batches of shoes and serving as a sort of music studio for sneaker-makers. The $6 million, which Fctry Lab considers a seed round, will be used to grow the business.

☆ Morgan Stanley upgrades United Airlines, says 2023 could be 'goldilocks' year for airline
▼ + stars: | 2022-12-05 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to buy shares of United Airlines , which could soar more than 50% next year, according to Morgan Stanley. Analyst Ravi Shanker upgraded shares of United Airlines to overweight from equal weight, saying that 2023 could be a "goldilocks" year for the airline. Leisure demand will remain strong, while corporate travel is expected to return to and exceed prepandemic levels in early 2023, according to the analyst. All this means that the risk-reward for airlines is attractive, even in the face of continued recessionary concerns. Shares of United Airlines are up slightly in 2022.

☆ Products Made With Captured Greenhouse Gas Are Reaching Commercial Scale
▼ + stars: | 2022-11-28 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Straws, bottles and packaging made with captured greenhouse-gas are starting to reach commercial scale, offering a way for businesses making and using everyday products to reduce emissions contributing to global warming. Origin Materials Inc. and Newlight Technologies Inc. are trying to meet that demand by bringing factories online that use captured emissions to manufacture materials used to make products including clothes, tires and plastic bottles. Sourcing and transporting raw inputs and captured CO2 are crucial to a product’s so-called carbon-negative credentials, meaning more CO2 is stored than created. The private company sources captured emissions from dairy farms, ethanol plants and landfills, and is expanding into coal mines and exploring direct-air capture. Competitor Origin Materials has a different approach to acquiring captured emissions and plans for its first commercial-scale factory to come online next year.

☆ India's Essar Group is debt-free after repaying $25 bln
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Nov 21 (Reuters) - India's Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said on Monday. Essar, built by brothers Shashi and Ravi Ruia, has sold some of its assets in sectors such as telecom, oil refining and steel over the years to settle its $25 billion debt. "Essar has concluded its asset monetisation programme and completed the debt repayment of $25 billion effectively making the group debt-free from Indian banks and financial institutions," Prashant Ruia, director, Essar Capital, said in a statement. AM/NS, which agreed to buy some infrastructure assets from Essar group for $2.4 billion, in a statement said that the ports and the power plant are captive to its India's operations and are expected to generate operation synergies for the company. Acquisition of these assets will help move raw materials and finished goods between the company's manufacturing facilities in western, eastern and southern India.

How Putin and Friends Stalled Climate Progress A handful of powerful world leaders rallied around Russia and undercut global cooperation. Mr. Putin has gained from this as the increasingly autocratic Mr. Xi finds common cause with the Kremlin. “Much depends on whether authoritarian leaders perceive climate action to be in their self-interest.”Though their actions help Mr. Putin, their track records on climate are mixed. Mr. Xi called Mr. Putin his “best friend.”He was returning the favor from a year earlier, when Mr. Putin hosted Mr. Xi at the Grand Kremlin Palace and awarded him one of Russia’s highest medals for foreign dignitaries. At a news conference with Mr. Putin, Mr. Bolsonaro thanked his “dear friend,” saying that Mr. Putin had offered him support when other world leaders were criticizing his Amazon policy.

☆ Startups, Investors Bet on Remote Work Future
▼ + stars: | 2022-11-03 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Even as more employers signal an end to remote work, tech startups and their investors are betting that it is here to stay, offering a range of digital tools designed to support a permanent workforce outside of the office. “Investors are super-pumped on remote,” Mr. Salam said. “Remote work is a durable phenomenon,” said Ravi Gupta, a partner at Sequoia who led the firm’s investment in Remote. Mr. Riggs said Frameable currently has hundreds of commercial customers, who rent its software with rates varying by the number of users. “I may be a bit biased, but I absolutely believe remote work is here to stay,” said Remote’s Mr. van der Voort.

☆ Magic mushroom compound psilocybin can help treat depression, study finds
▼ + stars: | 2022-11-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The naturally occurring psychedelic compound psilocybin can significantly reduce symptoms of depression, according to data from the largest trial of its type ever conducted. LONDON — The naturally occurring psychedelic compound psilocybin can significantly reduce symptoms of depression, according to data from the largest trial of its type ever conducted. The trial found that a 25mg dose of psilocybin, given alongside psychological support, triggered a reduction in levels of depression three weeks after treatment. The study, published Thursday in the New England Journal of Medicine, was carried out internationally by London-based COMPASS Pathways. Critics have also expressed concern that this could lead to a rise in usage of magic mushrooms in non-pharmaceutical settings.

☆ Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading, MAS says
▼ + stars: | 2022-11-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Edward Tian | Moment | Getty ImagesSingapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore. "If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub," said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday. "But if it is about trading and speculating in cryptocurrencies, that is not the kind of crypto hub we want to be," said Menon. Singapore has ambitions to become a global crypto hub, but has been cracking down on the industry after many retail investors lost their life savings to crypto trading. We believe Project Guardian can help pave the way for the next evolution of financial markets in Singapore," said Menon.

☆ Magic mushroom compound shows promise as depression treatment in key study
▼ + stars: | 2022-11-02 | by ( Natalie Grover | ) www.reuters.com time to read: +4 min

The mid-stage study, conducted by the London-based and Nasdaq-listed COMPASS Pathways (CMPS.O), involved 233 patients with so-called treatment-resistant depression who have failed to benefit from at least two antidepressants. In tandem with psychological support, each participant received a single 25 mg, 10 mg or a control 1 mg dose of a synthetic formulation of the compound psilocybin. Additionally, about 29% of patients in that group achieved remission on a standardised depression scale. Given these patients have limited treatment options and face stigma around depression, these findings are a step in the right direction, said Rucker. The trial's findings are positive but not spectacular, cautioned Ravi Das, associate professor at the University College London Institute of Mental Health.

☆ The Case for Why Consumers Will Still Want to Use Cryptocurrencies
▼ + stars: | 2022-10-30 | by ( ) www.wsj.com time to read: 1 min

The market for bitcoin and other digital assets has swung wildly in 2022, pushing prominent crypto firms into bankruptcy—and leaving many investors poorer. For a look at the state of the industry, and where it might be heading next, The Wall Street Journal’s Jason Dean spoke with Ravi Mhatre , founding partner of Lightspeed Venture Partners, and Sam Bankman-Fried , founder and chief executive of cryptocurrency exchange FTX, at The Wall Street Journal’s annual Tech Live conference. Here are edited excerpts of the conversation.

Then, the former finance minister repeatedly described his predecessor's ideas as "fairytale" economics that would spook the markets. He will also be the first person of colour to become Britain's prime minister. "I grew up in the 80s and 90s, and I could not even imagine a non-white prime minister in my lifetime... COVID CHAMPIONSunak rose swiftly up the ranks of the Conservative Party, becoming, in 2020, one of the youngest finance ministers. When the COVID-19 pandemic hit Britain, Sunak dropped the Conservatives' small-state instincts to borrow massively and stave off the risk of an economic depression.

☆ U.S. Treasury's Adeyemo heads to APEC meeting with focus on trade, 'resilience'
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Adeyemo, who has led work on U.S. sanctions over Russia's invasion of Ukraine, will represent the United States when the Asian Economic Cooperation (APEC) finance ministers meet in Bangkok on Wednesday and Thursday, Treasury said. He will also meet with Thailand's Finance Minister Arkhom Termpittayapaisith. The newly relaunched G7 Partnership for Global Infrastructure and Investment (PGII) and U.S. efforts to build up supply chains with trusted partners were also on the agenda. "While the U.S. economy remains resilient in the face of these headwinds, the Deputy Secretary will work with partners to increase resilience in their economies," it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ XPO Logistics Names CFO Ahead of Planned Spinoff of Freight Brokerage Business
▼ + stars: | 2022-10-10 | by ( Kristin Broughton | Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

XPO Logistics Inc. named a new finance chief ahead of the planned spinoff of its freight brokerage business later this year, part of an ongoing effort to split the sprawling transportation company into smaller pieces. Carl Anderson will take over as chief financial officer on Nov. 8, Greenwich, Conn.-based XPO Logistics said Monday. XPO Logistics in 2021 spun off its supply-chain business GXO Logistics Inc., which provides services such as warehousing and e-commerce. XPO Logistics reported a total profit of $141 million during the quarter, down 10% from a year earlier. During his tenure as finance chief, Mr. Tulsyan played a key role in the spinoff of the GXO supply-chain business.

☆ XPO Logistics Appoints CFO, Assembles Board
▼ + stars: | 2022-10-10 | by ( Kathryn Hardison | ) www.wsj.com time to read: +1 min

XPO Logistics Inc. has assembled its board of directors and appointed a chief financial officer as it proceeds with plans to spin off its tech-enabled brokered transportation platform. Brad Jacobs will serve as executive chairman, and Johnny C. Taylor Jr., Allison Landry, Jason Aiken and Michael Jesselson will remain as directors, the company said. Three additional directors were named to the board: Bella Allaire, the executive vice president of technology and operations with Raymond James Financial; Mario Harik, future chief executive officer of XPO following the spinoff; and Irene Moshouris, the senior vice president and treasurer of United Rentals. XPO Logistics appointed Carl Anderson as its chief financial officer. Mr. Anderson most recently served as CFO of Meritor Inc., a global supplier of OEM and aftermarket parts for commercial vehicle and industrial markets, XPO Logistics said.

☆ Premarket stocks: Is the bitcoin winter beginning to thaw out?
▼ + stars: | 2022-09-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But signs of a thaw, spurred on by global currency chaos, are beginning to appear. The gains gave crypto bulls hope that bitcoin was becoming a safe haven asset, or one that acts as a hedge when stocks are falling. Then, around midday, the dollar grew in strength and bitcoin came crashing down again, wiping out all of its recent gains. But all assets are suffering, bitcoin isn’t in this alone.”The silver lining: But even as bitcoin prices fall, investors see signs of a bottom. The central bank is also considering the launch of a Central Bank Digital Currency, which is essentially a digital version of the dollar.

☆ FedEx's Shopify strategy could prove costly as e-commerce cools and logistics firms fight over small business, analysts say
▼ + stars: | 2022-09-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

The logistics giants are taking different paths when it comes to e-commerce platforms like Shopify. "Every entity in the parcel-delivery market — i.e., UPS, FedEx, USPS, Amazon Logistics, and every third party out there — is looking to that SMB customer," Shanker said. UPS and FedEx are taking opposite approachesMany small e-commerce businesses buy their shipping services through the online platforms they use to sell their products. "They want you to click on the FedEx logo because you think FedEx is great." "I think while FedEx talks about its focus on SMB shippers, I think UPS is actually executing on it," said Rick Watson, the CEO of RMW Commerce Consulting.

☆ Duke Energy is one of the top leakers of a gas that is 25,000 times more polluting than carbon dioxide, EPA records show
▼ + stars: | 2022-09-21 | by ( Phil Mckenna | Inside Climate News | ) www.nbcnews.com time to read: +22 min

The emissions were equal to the annual greenhouse gas emissions of more than 59,000 automobiles, according to the EPA’s greenhouse gas equivalency calculator. Under such a scenario Duke Energy would likely have years of low emissions punctuated by a single year of high emissions. While other utilities have participated for decades in a voluntary program with the EPA to reduce SF6 emissions to next to nothing, Duke Energy has not. Brooks said Duke Energy is also targeting its most leaky equipment for faster replacement. The figure is roughly half of 1% of all greenhouse gas emissions worldwide, far smaller than yearly emissions of carbon dioxide, the primary driver of climate change.

☆ American Express is hiring 1,500 technology workers before the end of the year. Here are the salaries to expect in IT, finance, engineering, and risk management.
▼ + stars: | 2022-09-20 | by ( Britney Nguyen | Alex Nicoll | Rachel Durose | ) www.businessinsider.com time to read: +1 min

The credit-card service company American Express is hiring right now. AmEx hired 3,600 technical workers this year and aims to hire another 1,500 before the end of 2022.Insider analyzed HB-1 visa-holders salary data to give job seekers an idea of salary expectations. Job seekers interested in joining the remote-friendly company are in luck: AmEx is hiring 1,500 technology workers before the end of 2022, Ravi Radhakrishnan, the chief information officer, told Bloomberg. This is on top of the 3,600 engineers, coders, developers, and more that the company hired earlier this year. Below are four sectors — IT, risk management, finance, and engineering — with openings at AmEx and how much employees make in roles that fall under those categories.

☆ AmEx to hire 1,500 tech staff by year-end even as recession looms
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

The company has already brought in around 3,600 tech employees this year, a spokesperson for the credit card giant said in an emailed statement. Moderate inflation tends to benefit credit card companies, which charge a percentage on the dollar value of transactions as fees. read moreRegister now for FREE unlimited access to Reuters.com RegisterFears of a recession have led other financial companies to cut expenses and trim headcount. read moreThe plans were first reported by Bloomberg News, citing an interview with AmEx's Chief Information Officer Ravi Radhakrishnan. As of last year, the credit card issuer had 64,000 employees - 22,000 of whom were based in the United States.

☆ FedEx shares sink after company cites weakening global demand
▼ + stars: | 2022-09-15 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Shares of FedEx closed down more than 21% Friday after the company posted bleak preliminary earnings, citing weakening demand in global shipment volumes. Morgan Stanley analyst Ravi Shanker said the report could indicate a return to normal as pent-up demand from the pandemic wanes. The updates from FedEx came alongside fiscal first-quarter earnings that fell well short of Wall Street expectations. The company was scheduled to release results and hold a conference call with executives next week, but issued the report early. For its fiscal second quarter the company expects adjusted earnings per share of at least $2.75 on revenue of between $23.5 billion to $24 billion.

Britain's Queen Elizabeth II inspects a guard of honor at the Presidential palace in New Delhi during her visit to India in 1997. Queen Elizabeth II meets Indian Prime Minister Narendra Modi at Buckingham Palace in London, England in 2015. “If you don’t see people mourning the death of Queen Elizabeth in India, (it is) because she doesn’t have that connection with the new generation of Indians,” Ravi Mishra said. Queen Elizabeth II meets Indira Gandhi at Hyderabad House in Delhi, India, in 1983. The proposition before this house is the principle of owing reparations … the question is: is there a debt?… As far as I’m concerned, the ability to acknowledge a wrong that has been done, to simply say sorry, will go a far, far, far longer way than some percentage of GDP in the form of aid,” Tharoor said.

☆ Companies need to embrace an innovative path to create new employment opportunities
▼ + stars: | 2022-03-03 | by ( Ravi Kumar | ) www.businessinsider.com time to read: +5 min

This article is part of the "Financing a Sustainable Future" series exploring how companies take steps to set and fund sustainable goals. A LinkedIn survey found just one in 67 paid jobs in the US offered remote work in 2020, and that number this year grew to one in six. The labor shortage is compelling companies to boost pay. Low-complexity jobs will inevitably be automated, given the acute labor shortage, and the real opportunity will be in training people to take on higher-order responsibilities, which will allow enterprises to scale business purposefully. Remote work means more people otherwise limited by their circumstances — like caregiving adults, students, and people with disabilities or in rural areas — can now be included in the nontraditional American workforce and gig economy.

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