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☆ Scientists can spike startup bets in Planet A's new $172 million climate tech fund even if they have a good business case. Check out the 20-slide LP deck it used to raise the fresh cash.
▼ + stars: | 2023-02-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

German VC Planet A has just closed its first 160 million euros (around $172 million) fund. Planet A, a European venture capital firm, has just closed its inaugural 160 million euros (around $172 million) fund to back startups doing just that. Founded in 2020, Planet A is looking for market-ready tech startups with significant impact potential in climate change mitigation, waste reduction, resource savings, and biodiversity protection. The early-stage investor will write checks of between 500,000 euros to 3 million euros to startups in Europe, the UK, and Israel. The Planet A team intended to raise 100 million euros, Detzner said, so the fund was oversubscribed.

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☆ Why analysts are bullish on this little-known aircraft parts producer with one of 'best business models' in the sector
▼ + stars: | 2023-02-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Under-the-radar aircraft parts producer TransDigm Group is getting a lot of love from analysts this week, who view the stock as an optimal way to play the commercial aftermarket sector. TransDigm also raised its outlook, with commercial aftermarket revenues expected to grow more than anticipated. His $838 price target implies nearly 13% upside for shares from Tuesday's close. The new price target implies roughly 7% upside for shares from Tuesday's close. "We view the company as having the most defensible business model amongst peers and management has overcome numerous short theses," she said.

☆ Fact Check-No evidence ‘RNA technology’ in chicken feed behind infertility or U.S. egg shortage
▼ + stars: | 2023-02-07 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

Some posts also reference studies unrelated to the contents of chicken feed, to chicken fertility or to RNA to imply that a feed additive is behind egg shortages and increased prices. One post says, “RNA technology in chicken feed causing chickens to stop laying“ and can be seen (here) . There is also no evidence of alleged additives in chicken feed affecting the laying habits of chickens. “Also, there is no such thing as adding RNA to chicken feed,” Abasht said. There is no evidence that “RNA technology” is present in chicken feed, or causing infertility in chickens or involved in the current egg shortage in the United StatesThis article was produced by the Reuters Fact Check team.

☆ Omnicom CEO Wants to Embrace Generative AI as Quickly as Possible
▼ + stars: | 2023-02-07 | by ( Megan Graham | ) www.wsj.com time to read: +3 min

The company reported organic revenue growth of 7.2% in the fourth quarter, beating the average analyst estimate of 3.7% organic revenue growth, according to FactSet. Organic revenue growth was 9.4% for the full year, the company said, beating the average analyst estimate of 8.4%. The company said it is forecasting organic revenue growth this year of 3% to 5%. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Reported total revenue in the fourth quarter of 2022 increased 0.3% to $3.87 billion versus a year earlier.

☆ The energy giant whose boss was poisoned with cyanide is looking for a new CEO — a role described as 'impossible' and the 'worst job in global energy'
▼ + stars: | 2023-02-06 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

South Africa's energy giant Eskom has published a job advert for a new chief executive officer. Eskom's current CEO was poisoned with cyanide in December after submitting his resignation. The role was described by current CEO Andre de Ruyter as "impossible." The ad makes no specific mention of the strange circumstances in which the company's current CEO, Andre De Ruyter, announced his departure from the role. The role was described by Bloomberg as the "worst job in global energy," while South African publication BusinessTech called it "the worst job in South Africa."

☆ Understanding the ripple effects of China's spy balloon
▼ + stars: | 2023-02-06 | 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 EmailUnderstanding the ripple effects of China's spy balloonMichelle Caruso-Cabrera, Council on Foreign Relations member, and Daniel Rosen, Rhodium Group founding partner, join 'Squawk Box' to discuss how investors should operate around the U.S. and China tensions.

☆ Japan PM Kishida rebukes aide over same-sex couple outburst
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

"His comments are outrageous and completely incompatible with the administration's policies," Kishida said in remarks aired by public broadcaster NHK. Kisihida said he may dismiss Arai, who later apologized for "misleading" comments made after Kishida had said in parliament that same-sex marriage needed careful consideration because of its potential impact on the family structure. Arai's comments are an embarrassment for Kishida as he prepares to host other leaders from Group of Seven nations in May. In a survey published by NHK in July 2021, two months before Kishida became prime minister, 57% of 1,508 respondents said they supported the legal recognition of same-sex unions. In November, a Tokyo court upheld a ban on same-sex marriage, but also said a lack of legal protection for same-sex families violated their human rights.

☆ Tens of thousands of Israelis protest against justice reform plans
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

[1/4] Israelis protest against Prime Minister Benjamin Netanyahu's new right-wing coalition and its proposed judicial reforms to reduce powers of the Supreme Court in Tel Aviv, Israel February 4, 2023. REUTERS/Ronen ZvulunJERUSALEM, Feb 4 (Reuters) - Tens of thousands of Israelis braved heavy rain on Saturday for a fifth week of protests against judicial reform plans by Prime Minister Benjamin Netanyahu's new government that critics say threaten democratic checks on ministers by the courts. "I'm here tonight protesting against the transition of Israel from a democracy to an autocracy," Dov Levenglick, 48, a software engineer told Reuters in Tel Aviv. Opposition leader Yair Lapid joined demonstrations in the coastal city of Haifa, where he said protesters "came to save their country, and we came to protest with them." Reporting by Emily Rose Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk is changing Twitter so much, even investor Marc Andreessen is getting upset and complained to him directly
▼ + stars: | 2023-02-04 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Issues with how Twitter looks and operates have been frequent since billionaire Elon Musk took over. Investor Marc Andreessen invested in Musk's takeover and is said to have complained directly to him. Twitter CEO Elon Musk is pushing so many changes to the social media site so fast that high profile users, Musk fans, and even some of his investors are complaining. Representatives of Twitter and Andreessen Horowitz did not respond to requests for comment. "Musk knows it's bad right now, but it's going to get better over time," a person familiar with Twitter said.

☆ U.S.-China rewarming trade is half-full of hot air
▼ + stars: | 2023-02-03 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

Enter a literal ball of hot air in the form of a Chinese spy balloon that the United States military is tracking in its home skies. The balloon’s brazen appearance augurs ill for Secretary of State Antony Blinken’s expected visit to Beijing next week. However, it is important to put the balloon in the context of Beijing’s habitual good cop, bad cop negotiating routine. In financial terms, Beijing still largely has its good-cop hat on. U.S. investors may fret about Chinese eyes in the sky, but in financial terms they have more to fear from the flaming gas jets in their own legislature.

☆ Publicis Reports 9.4% Organic Revenue Growth for Fourth Quarter
▼ + stars: | 2023-02-02 | by ( Megan Graham | ) www.wsj.com time to read: +4 min

Publicis Groupe SA said Thursday that organic revenue grew 9.4% in the fourth quarter as its data and technology services continued to capture a shift in client spending. The growth in the quarter ending Dec. 31 brought Publicis’s full-year 2022 organic revenue growth to 10.1%. The results beat the average analyst estimate of 5.3% growth for the quarter and 8.8% for the year, according to FactSet. Publicis said it expects organic revenue growth of 3% to 5% in 2023. Organic growth refers to the change in net revenue excluding the impacts of acquisitions, disposals and currency fluctuations.

☆ China's cities are struggling to pay their bills from three years of Covid and a real estate crash
▼ + stars: | 2023-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

Rolling lockdowns seriously dented household incomes, leading many to reduce spending, which in turn resulted in less tax revenue for local governments. “China’s runaway local debt poses a serious threat to the country’s overall economic health and will weigh heavily on China’s still-nascent recovery,” said Singleton. Debt that is backed by local governments but which doesn’t show up on their balance sheets could be much bigger. That’s more than 20% higher than the estimate of 53 trillion yuan made by Goldman Sachs in 2021. Their debt squeeze could pose a serious threat to China’s financial system, particularly to small regional banks.

☆ UK's Johnson Matthey joins hands with Plug Power for hydrogen tech partnership
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: 1 min

Jan 30 (Reuters) - British chemicals firm Johnson Matthey (JMAT.L) said it had entered into a long-term supply and joint development agreement with Plug Power for hydrogen technology-related products. Johnson Matthey, which makes catalytic converters for vehicles and refines platinum group of metals (PGMs) used chiefly by automakers, said on Tuesday that the group would supply a substantial portion of U.S.-based Plug's demand for components of fuel cells and electrolysers. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Now Israel has normalised relations with more Arab states, while Palestinians have grown more isolated and divided. Most world powers consider Israel's settlements in the West Bank and East Jerusalem as illegal. Israel says its West Bank raids targeted militants such as the suspects behind deadly attacks carried out by Palestinians inside Israel last year. "Each area of the West Bank is witnessing some form of armed clashes, but these are not united mass-scale movements," said Tahani Mustafa of the International Crisis Group. U.S. Secretary of State Antony Blinken is visiting Israel and the West Bank this week.

☆ Stocks face their biggest test of the year this week as early-year gains stir excitement
▼ + stars: | 2023-01-30 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Earnings : More than 20% of the S & P 500 will report this week; by next Friday, 50% of the S & P will have reported. Craig Johnson at PiperSandler noted that 66% of all S & P 500 stocks are above their 200-day moving averages. It's not just the big-cap S & P 500 that is advancing: So are small-caps. The S & P High-Beta ETF is up 16% this month, at its highest levels since April of 2022. If that holds, it's the first positive January for the S & P 500 since 2019, when it was up 7.9%.

In protests that followed the killing and the police sweeps, six people were arrested and charged with domestic terrorism. In December, the same charges were filed against five people after law enforcement moved in to clear barricades and confront protesters. But in a number of states, including Georgia, domestic terrorism laws include a wide range of offenses outside those motivated by hate. The Atlanta Solidarity Fund said that the state of Georgia was trying to “set an alarming precedent” with the charges. “If they are successful, protesters across the country could be facing similar speech-chilling ‘domestic terrorism’ charges,'” it said in a statement this week.

☆ Travel companies are ‘greenwashing’ — here are 3 ways to find ones that aren't
▼ + stars: | 2023-01-29 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +6 min

But finding companies that are serious about sustainability isn't easy, said James Thornton, CEO of tour company Intrepid Travel. "You see hotels saying they're sustainable, and then you're using these little travel bottles for shampoos and shower gels," he said. "The honest truth is that every travel company is ultimately contributing towards the climate crisis," he said. "So the best thing any travel company can start to do is measure the greenhouse gas emissions it creates." Other companies with B Corp status include Seventh Generation, Ben & Jerry's, Aesop — and Patagonia, which Thornton called "arguably the most famous B Corp in the world."

☆ As egg prices climb, advocacy groups and politicians call on FTC to investigate possible price gouging scheme: 'Somebody needs to pay attention'
▼ + stars: | 2023-01-27 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Advocacy group Farm Action and others have asked the FTC to investigate price gouging, pointing to record profits. Egg companies and some experts say a new strain of avian flu, packaging, and transport costs justify the price. While egg companies claim an outbreak of avian flu, combined with inflated transportation and packaging costs, justify record-high prices, others are calling foul. "Somebody needs to pay attention, and we didn't really see anyone asking why," Joe Van Wye, Farm Action's director of policy and outreach, told Insider. The FTC declined to comment on the letters, and Cal-Maine Foods and Sen. Reed did not immediately respond to Insider's requests for comment.

☆ Aviation's best bet for cutting emissions is a new kind of fuel — but there's nowhere near enough of it
▼ + stars: | 2023-01-27 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +4 min

Sustainable aviation fuel can be up to 80% less carbon intensive than conventional jet fuel. The US wants 3 billion gallons of sustainable aviation fuel by 2030. Sustainable aviation fuel, or SAF, is similar to conventional jet fuel, but it's much less carbon-intensive during its full lifecycle. From production to combustion, it releases up to 80% less carbon dioxide than conventional jet fuel, according to data from the International Air Transport Association. "There are very few that have seen the vision" of converting to SAF production.

☆ International Paper Strikes Deal to Divest Russian Pulp Business
▼ + stars: | 2023-01-25 | by ( Ryan Dezember | ) www.wsj.com time to read: 1 min

International Paper Co. said it has struck a deal to divest from a lucrative Russian pulp business, the latest U.S. company to leave Russia since Moscow invaded Ukraine. IP said it would sell its 50% stake in Ilim Group to its Russian partners in the joint venture for $484 million. The Memphis, Tenn., company said those partners, led by Ilim chairman Zakhar Smushkin, also have indicated that they are interested in buying IP’s stake in a related corporate entity for $24 million. IP said it intends to sell that stake as well as any residual interests in Ilim.

☆ Companies Rush to Trace Sprawling Supply Chains as Sustainability Rules Loom
▼ + stars: | 2023-01-24 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

The rules come as businesses, especially small and midsize companies, have a limited view of their supply chains and are struggling to broaden their oversight, sustainability analysts say. Imagine that in the landscape of supply chain,” said Tim Constable, partner at law firm Dentons advising companies on supply chains. There are a host of other regulatory developments threatening to affect companies’ supply chains. Photo: Chris Ratcliffe/Bloomberg NewsUnilever has a sprawling global supply chain, with around 54,000 suppliers in 150 countries. It doesn’t matter how sophisticated the program is.”Internet-of-things startups can go beyond aggregating data and instead track actual items.

☆ Egg prices rose 60% in 2022. One farm group claims it's a 'collusive scheme' by suppliers
▼ + stars: | 2023-01-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

These industry figures don't seem to square with a two- or three-digit percentage spike in egg prices last year, Farm Action claims. Bird flu's significant impact on hen supply has been the most notable driver, while egg demand has remained strong, Bowman said in a written statement. In this case, that means there's generally not a 1:1 relationship between egg or hen supply and egg prices. Amy Smith vice president at Advanced Economic SolutionsThe dynamic is largely due to a "compounding effect" of demand, Rubio said. Once a farm suffers a flu outbreak, it likely won't produce eggs again for at least six months, Rubio said.

☆ Nigeria opens 'game changer' billion-dollar deep seaport
▼ + stars: | 2023-01-23 | by ( Seun Sanni | ) www.reuters.com time to read: +1 min

LAGOS, Jan 23 (Reuters) - Nigeria opened a billion-dollar Chinese-built deep seaport in Lagos on Monday, which is expected to ease congestion at the country's ports and help it become an African hub for transshipment, handling cargoes in transit for other destinations. President Muhammadu Buhari has made building infrastructure a key pillar of his government's economic policy, and hopes that this will help his ruling party win votes during next month's presidential election. "This is a transformative project, game changer project. This project could create at least 200,000 jobs," Chinese Ambassador to Nigeria Cui Jianchun told Reuters after the port was commissioned by Buhari. China is among the largest bilateral lenders to Nigeria and has funded rail, roads and power stations.

Jan 19 (Reuters) - The Federal Trade Commission (FTC) should examine high egg prices for signs of price gouging from top egg companies, a farm group said, as Americans continue to pay more than ever for the household staple. The U.S. Department of Agriculture (USDA) has pointed to a record outbreak of avian flu as a reason for the high prices. But the nation's antitrust regulator should also examine record-high profits at the top egg company, said Farm Action on Thursday in a letter to FTC chair Lina Khan. In the filing, the company pointed to decreased egg supply nationwide due to avian flu driving up prices as a reason for its record sales. The American Egg Board, an egg marketing group, said in a statement that egg prices reflect a variety of factors and that wholesale egg prices are beginning to fall.

The report said investigators interviewed 97 court employees but was silent on whether the nine justices who sat on the court at the time of the leak were interviewed, prompting calls from Democratic lawmakers and others for clarity. "During the course of the investigation, I spoke with each of the justices, several on multiple occasions," Curley said in the statement, released by the court. "I followed up on all credible leads, none of which implicated the justices or their spouses," Curley added. Curley said on that basis she decided it was not necessary to ask the justices to sign sworn affidavits affirming they did not leak the draft, something court employees were required to do. Gabe Roth, executive director of the court reform group Fix the Court, said the fact that the report initially omitted the fact that the justices were interviewed "smells fishy."

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