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☆ Some CFOs Are Boosting Their Credit Lines as Insurance Against Recession
▼ + stars: | 2022-11-16 | by ( Kristin Broughton | Nina Trentmann | ) www.wsj.com time to read: +7 min

In addition to recession-planning, some companies are expanding their credit lines in response to higher input and inventory costs, corporate bankers said. Term loans are also funded at the outset, unlike credit lines. Photo: Xcel EnergyThe company increased its revolving credit lines primarily because it is expanding and also confronting higher commodity costs, Mr. Johnson said. Xcel doesn’t typically allow its commercial-paper balances to exceed 40% of its total borrowing capacity under its revolving credit lines, Mr. Johnson said. Bombardier in the third quarter closed on a new $300 million, five-year revolving credit facility.

The pledge was praised widely at last year's COP26 climate summit, particularly as Brazil, Indonesia and Congo all signed on. To fulfill the pledge, the world would need to ensure 10% less area is deforested on average each year from 2021 to 2030. Most countries under the pledge have yet to detail plans for passing stronger forest protections or implementing them. BRAZILThe biggest rainforest country also leads the world in deforestation, as the Amazon falls rapidly to illegal logging, agriculture and land speculation. Deforestation driven by land-clearing for palm oil plantations continued to slow in the first seven months of the year - even as palm oil prices soared.

☆ Who's up and who's down in the latest Goldman Sachs restructuring under CEO David Solomon
▼ + stars: | 2022-10-17 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +9 min

And he will also oversee a wealth management business that is now going to include portions of the consumer business, but wrapped in a wealth management offering. Both, according to Bloomberg's reporting, are being demoted to senior positions within Nachmann's asset and wealth management division. Stephanie CohenAnother executive thought by insiders to have lost some of her territory is Stephanie Cohen, the co-head of the consumer and wealth management division. Had Cohen been able to successfully helm the consumer and wealth management division alongside Tucker York, the currently discussed changes wouldn't have been needed, the people said. Cohen's co-head, York, will now return to his prior role of running the bank's successful private wealth management business.

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