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☆ Here are Friday's biggest analyst calls: Apple, Alphabet, Tesla, Costco, Dick's, United, Pinterest, Vivid Seats & more
▼ + stars: | 2024-02-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Daiwa reiterates Apple as outperform Daiwa said it needs to see more growth from Apple, but that it's sticking with its outperform rating. " "We reiterate our Outperform rating on Dick's Sporting Goods and lift our 12- to 18- month price target to $190 (from $145)." Bank of America reiterates Pinterest as buy Bank of America said it's standing by Pinterest shares after earnings on Thursday. Initiating Coverage On Vivid Seats With A BUY Rating And $10 Price Target. Bank of America initiates Ocular Therapeutix as buy Bank of America said it's bullish on the opthalmic biotech company.

Persons: Morgan Stanley, it's, Wedbush, Tesla, Daiwa, Oppenheimer, Argus, Pinterest, Goldman Sachs, Goldman, Wells, Craig, Hallum, Cleveland, it's bullish Organizations: Citi, Liberty Global, Apple, Dick's Sporting Goods, Bank of America, HSBC, Bunge, Argus, Health, PayPal, Costco, Alphatec Holdings, United Airlines, Target ., JPMorgan, " Bank of America Locations: FCF, Cleveland

☆ Elanco's $1.3 billion deal may give the animal health company more flexibility as product launches ramp up
▼ + stars: | 2024-02-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

Elanco Animal Health's decision to sell its aqua division will narrow its focus on pet health and livestock sustainability, as management prepares to launch several new products this year. ELAN 1Y mountain Elanco stock over the past year. One area it identified is pet health, a $15 billion market that has benefited from increasing pet ownership, especially among people who see their pets as family and value their animals' health care. 'Flexibility' to invest behind launches The product launches will also give Elanco a chance to prove itself. The pet health business is very competitive and, once approved, Zenrelia will compete directly with rival Zoetis' Apoquel.

Persons: Elanco, Jeff Simmons, Simmons, Credelio, Cornell University's Richard P, FactSet, Chris Schott, ELAN, Schott, Jefferies, Glen Santangelo, Eli Lilly, Jasper Hellweg, Hellweg, Zenrelia, Zoetis, — CNBC's Michael Bloom Organizations: Merck, CNBC, ELAN, Riney Canine Health, JPMorgan, Argus Locations: U.S

☆ Netflix has a stranglehold on its competition, but the streaming wars aren't over. Here's how Disney and Amazon could dethrone the dominant streamer.
▼ + stars: | 2024-02-05 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

"Netflix won the streaming wars in 2009 when they started streaming," said Tim Nollen, a media analyst at Macquarie. "I think it's a little bit ridiculous, to be honest," Bazinet said when asked if Netflix has won the streaming wars. AdvertisementHow Hollywood can beat Netflix at its own gameHollywood stalwarts can compete in streaming, Bazinet argued — provided the media industry first consolidates even further. The two biggest threats right now are Disney — which has about 220 million subscribers across Disney+, Hulu, and ESPN+ — and Amazon. Nollen said Amazon would flood the market with cheap ads and crush its competition like it did in e-commerce.

Persons: —, That's, Jason Bazinet, Tim Nollen, They've, Bazinet, overreacted, Jessica Reif Ehrlich, Reif Ehrlich, Nielsen Bazinet, Joe Bonner, Bonner, John Hodulik, Hodulik, I'm, Macquarie's, Nollen, it's Organizations: Service, Netflix, Business, Citigroup, Disney, Paramount, Macquarie, Hollywood, Bank of America, Nielsen, ESPN, Argus Research, Hulu, UBS, Amazon Locations: Hulu

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Alphabet, Microsoft, AMD, Meta, Spotify & more
▼ + stars: | 2024-01-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Microsoft as overweight Morgan Stanley raised its price target on the stock to $465 per share from $450 following earnings. Morgan Stanley reiterates Alphabet as overweight Morgan Stanley raised its price target on the stock to $165 per share from $150 and said it's standing by Alphabet shares after earnings on Tuesday. " Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta earnings on Thursday. Bank of America reiterates Advanced Micro Devices as buy Bank of America said it's standing by its buy rating following earnings on Tuesday. Morgan Stanley downgrades Sofi to underweight from equal weight Morgan Stanley said in its downgrade of SoFI that it sees too many "near-term revenue headwinds."

Persons: Morgan Stanley, it's, Johnson, William Blair, Roth, Stryker, SYK, Morgan Stanley downgrades Sofi, Baird, Tesla, Elon Musk's, Elon, Wells Organizations: Bank of America, Meta, " Bank of America, Devices, AMD, Citi downgrades Deutsche Bank, Citi, Deutsche, Deutsche Bank, Palo Alto Networks, UPS, Argus, Canaccord, UBS, Informa Tech, UW, Barclays, Verizon, JPMorgan, Apple, GFL, Spotify Locations: GenAI, Georgia

☆ Here are Thursday's biggest analyst calls: Apple, Netflix, Nvidia, Meta, Rivian, Costco, Hertz, Microsoft & more
▼ + stars: | 2024-01-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America upgrades Apple to buy from neutral Bank of America said AI and Vision Pro should drive upside for Apple. Bank of America reiterates Microsoft as buy Bank of America raised its price target on Microsoft to $450 per share from $430. Guggenheim reiterates Target as buy Guggenheim said Target is well positioned in 2024. Bank of America names Harley Davidson a top pick Bank of America said the motorcycle company is well positioned for 2024. " Bank of America reiterates ServiceNow as a top pick Bank of America said the stock remains a top idea for 2024.

Persons: KBW downgrades Charles Schwab, KBW, Mizuho, Robinhood, ., DA Davidson, Baird, Rivian, Wolfe, it's, Wells, it's bullish, Bernstein, Guggenheim, Piper Sandler, Tempur Sealy, TPX, CFRA, Harley Davidson, Oppenheimer, Morgan Stanley, Hertz, ServiceNow, Argus, Salesforce, Mike Blake Organizations: UBS, Netflix, Bank of America, Apple, of America, Nvidia, Semiconductors, Barclays, Red Rock Resorts, Vegas Locals, Microsoft, Guggenheim, Citi, JetBlue, Spirit, Costco, Piper, Palo Alto Networks, Paramount, Nasdaq, Hertz, Blackrock, Amazon, Deutsche Bank, Deutsche, JPMorgan Locations: repurchases, Palo, Palo Alto, Southeast China, 1H24, Los Angeles

REUTERS/Yves Herman/File Photo Acquire Licensing RightsDUBAI, Dec 5 (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.

Persons: Yves Herman, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: REUTERS, Rights, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European, Thomson Locations: Dunkirk, France, India, China, Paris, COP28, Helsinki, U.S, European Union, Europe

U.S Secretary of State Antony Blinken speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo, in Dubai, United Arab Emirates December 1, 2023. SAUL LOEB/Pool via REUTERS Acquire Licensing RightsSummary COP 'side deals' have boomed in recent yearsVoluntary climate pledges yield mixed resultsSome have led to tougher CO2-cutting policiesDUBAI, Dec 2 (Reuters) - While the world's climate diplomats huddle over draft decisions to be made at the end of this year's U.N. climate summit, governments at COP28 are firing off a flurry of new promises for action. Among the expected pledges at COP28 are a goal to triple renewable energy capacity and initiatives on methane and coal power. These voluntary side deals have proliferated in recent years, even as global temperatures and greenhouse gas emissions continue to rise. "They go much further than what you can do multilaterally," said Marc Vanheukelen, a former EU official who led the bloc's work on an international methane emissions pledge launched at the COP26 climate summit in 2021.

Persons: Antony Blinken, SAUL LOEB, Marc Vanheukelen, Jonathan Banks, Laurie van der, OCI, It's, Erin Matson, Luiz Inácio Lula da Silva, Matson, Kate Abnett, Tommy Wilkes, Katy Daigle, Jon Boyle Organizations: Food Systems, United Arab Emirates, REUTERS Acquire, EU, Global, Air Task Force, Reuters, Bank, U.S, Change, WWF, Rainforest Alliance, Climate, Thomson Locations: Dubai, United Arab, DUBAI, COP28, Glasgow, U.S, Nigeria, Canada, The U.S, China, Russia, COP26, Britain, France, United States, Italy, Germany, Brazil

☆ The World’s Key Canal Is Clogged Up. Winter Fuel Prices Could Get Wacky.
▼ + stars: | 2023-12-01 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

The Panama Canal is running out of water, threatening the global supply chains and industries that depend on it. WSJ takes you inside the canal’s operations to understand what this means for the future of this vital shipping route. It could make your winter heating bills more unpredictable too, particularly if you live at the end of long and vulnerable fuel supply chains. Prices for Brent crude, the main global benchmark, are down about $9 a barrel, or about 10%, since mid-September. But Asian propane LPG prices are lower only by 3%, data from Argus Media shows, trading around $665 per metric ton in late November.

Organizations: Brent, Argus Media Locations: Panama, Asia

The assessment could become politically divisive as it sets the stage for the next few years of global action in cutting planet-warming emissions. Based on the results, countries may be pressed to set more ambitious climate policies or to contribute more financing to help developing countries adopt clean energy. In September, the United Nations offered an early stocktake assessment that revealed countries were far behind in meeting climate goals. HOW WILL THE STOCKTAKE DRIVE CLIMATE ACTION? What then needs to be decided... what do we then do from here," Dan Jorgensen, Denmark's Global Climate Policy Minister, told Reuters.

Persons: Alex Flores, Claudia Morales, Dan Jorgensen, Kate Abnett, Katy Daigle, Josie Kao Organizations: REUTERS, Rights, United Nations, European Union, Policy, Reuters, Thomson Locations: Lake Titicaca, Bolivia, Rights DUBAI, Dubai, Paris

If General Atlantic decided to sell its stake, a deal could now garner more interest from investors, the sources said. A deal could value the company, which assesses global oil prices and provides industry news, at north of 4 billion pounds ($5.08 billion), Reuters previously reported. Deliberations remain at an early stage and General Atlantic and Hg may decide not to proceed with a transaction, two of the people said. Argus Media, Hg and General Atlantic declined to comment. Hg bought half of General Atlantic's 50% stake in Argus in 2019, valuing the business at more than 2 billion pounds then.

Persons: Adrian Binks, Amy, Jo Crowley, Victoria Farr, Mark Porter Organizations: Argus Media, Reuters, Private, Investments, Atlantic, Atlantic's, Argus, Astorg, Thomson Locations: GIC, London, Argus, Frankfurt

☆ Here are Tuesday's biggest analyst calls: Apple, Rivian, Nvidia, Boeing, Affirm, Datadog, Amazon & more
▼ + stars: | 2023-11-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: UBS downgrades ChargePoint to neutral from buy UBS said it's cautious on the EV charging company's growth outlook. " Citi reiterates Nvidia as buy Citi said it's sticking with its buy rating on shares of Nvidia. " Wells Fargo downgrades Booz Allen Hamilton to equal weight from overweight Wells said investors should wait for a better entry point for the defense contractor. Raymond James upgrades Crocs to strong buy from outperform Raymond James said it sees an attractive entry point for the show company. Wells Fargo reiterates Amazon as overweight Wells said international trends for Amazon remain healthy.

Persons: UBS downgrades ChargePoint, it's, Wells, Booz Allen Hamilton, Bernstein, Raymond James, Crocs, CROX's, Estee Lauder, Jefferies, underperform Jefferies, Evercore, Rivian, Piper Sandler downgrades Shopify, Piper, Piper Sandler, Canaccord, TD Cowen, Datadog, TD, Truist, it's bullish, Ingersoll Rand Organizations: UBS downgrades, UBS, JPMorgan, Apple, Citi, Nvidia, HSBC, RBC, Boeing, Lexeo Therapeutics, Bank of America, Virtu, Logistics, Industry Locations: U.S, DDOG, India, Ingersoll

Here are some of the main players and negotiating blocs involved in the COP28 conference starting Nov. 30 in Dubai. In climate negotiations, Beijing argues that wealthy developed countries like the United States, the biggest historical CO2 emitter, should move first and fastest in climate policy and finance. Despite having the world's second largest economy after the United States, China considers itself as a developing nation in the climate talks. But U.S. delegates will face pressure for climate finance after Washington pledged no new climate cash to the United Nations this year. AFRICAN GROUP OF NEGOTIATORSAfrican countries will be pushing at COP28 for climate finance and financial mechanisms to speed up green energy projects.

Persons: Rula, Kate Abnett, Katy Daigle, Josie Kao Organizations: Abu Dhabi Sustainability, REUTERS, UNITED, Washington, United Nations, EU, GROUP, Marshall, European Union, Thomson Locations: UAE, Abu Dhabi, Dubai . CHINA China, China, Beijing, United States, U.S, Union, United, United Kingdom, London, Brazil, South Africa, India, Saudi Arabia, CHINA, Kenya, Ethiopia, Senegal, Mozambique, Vanuatu, Costa Rica

China's imports are being driven by increased arrivals from Indonesia, the world's largest exporter of thermal coal, with Kpler estimating 18.03 million metric tons will arrive this month. This is up from imports from Indonesia of 16.70 million metric tons in October, according to Kpler data. Imports from Indonesia are expected to decline to 10.92 million metric tons in November from 12.19 million in October. Thermal coal arrivals from Australia are forecast to be 1.11 million metric tons in November, up slightly from the 1.02 million in October. Overall, its possible that China's increased appetite for imported thermal coal ahead of the northern winter is crowding out some demand in India, which tends to be a more price-sensitive buyer.

Persons: Stephen Coates Organizations: Argus, CHINA, Atlantic, Indonesian, Reuters, Thomson Locations: LAUNCESTON, Australia, Indonesia, China, India, Japan, South Korea, Taiwan, Beijing, Canberra, South Africa, Asia, Europe

The United States, European Union and many climate-vulnerable countries are insisting on a final COP28 deal that commits countries to phase out fossil fuels. While the International Energy Agency says these emissions-abatement technologies are crucial for meeting global climate goals, they are also expensive and not currently used on a large scale. But the EU and some climate-vulnerable countries insist on pairing this pledge to boost renewables with phasing out fossil fuels, setting up a clash. FINANCING FOR THE COSTS OF CLIMATE CHANGETackling climate change and its consequences will take an astonishing amount of investment - far more than the world has budgeted so far. At COP28, countries will be tasked with setting up a "loss and damage" fund to help with this, which developing nations say should unlock at least $100 billion by 2030.

Persons: Sultan al, Jaber, Kate Abnett, Katy Daigle, Josie Kao Organizations: European, COP28, International Energy Agency, European Union, EU, U.S, United Arab Emirates, Thomson Locations: Dubai, Paris, COP26, United States, European Union, Russia, UAE, EU, China, COP28

The pay bumps could help win over some employees who balked at smaller bonuses last year that they blamed on losses from the retail operations. The firm's allocation for bonuses fell by as much as 40% in 2022, according to another source, after earnings slid 48%. Wall Street pay varies widely based on performance and market conditions, and bonuses account for a large share of compensation - in some cases more than double an employee’s annual salary. Goldman was involved in several major transactions in recent months that spurred optimism about a nascent market recovery. WALL STREET BONUS SLIDEThe potential compensation gains contrast with expectations for a broader industry slide.

Persons: Goldman Sachs, Stephen Biggar, Goldman, David Solomon, hasn't, we're, We're, Julian Salisbury, Dina Powell McCormick, They've, Christopher Connors, WALL, Thomas DiNapoli, Sheffield, Banks, Natalie Machicao, Lananh Nguyen, Saeed Azhar, Megan Davies, Matthew Lewis Organizations: Argus Research, Wall, Goldman, Sixth, MSD Partners, Bloomberg, Natural Resources, Exxon Mobil, Arm Holdings, Johnson Associates, York, Sheffield Haworth, Thomson Locations: Biggar, Sheffield Haworth, New York

The world-first climate "loss and damage" fund is set to be launched during the United Nations COP28 climate summit to be held Nov. 30-Dec. 12 in Dubai in the United Arab Emirates. "The Commissioner is ready to announce substantial financial contribution by the EU and its member states to the loss & damage fund at COP28 in the context of an ambitious outcome at COP28," the European Commission and the UAE's incoming COP28 president said in a joint statement, referring to EU Climate Commissioner Wopke Hoekstra. Adnan Amin, CEO of the COP28 summit, said the aim was to secure several hundred million U.S. dollars for it by the end of the event. He said he was "hopeful" that the COP28 host, the UAE, would also make a contribution. Countries agreed at last year's U.N. climate talks to launch the climate damage fund, a deal hailed as a breakthrough by more vulnerable, developing nations that have long demanded support to cope with climate-driven damage from drought, floods and rising seas.

Persons: Stephanie Lecocq, Wopke Hoekstra, Adnan Amin, Amin, John Kerry, Washington, Kate Abnett, Bart Meijer, Gareth Jones, Mark Heinrich Our Organizations: Environmental, Republique, New Global Financial, REUTERS, Rights, European Union, United, EU, European Commission, Finance, Reuters, Bloomberg, Economy, Thomson Locations: Paris, France, Rights BRUSSELS, United Nations, Dubai, United Arab Emirates, COP28, EU, UAE, Singapore

The EU's proposed "Euro 7" law would tighten limits on health-harming pollutants from combustion engine cars. The European Commission, which drafts new EU laws, has said the health benefits would far outweigh the costs. However, EU countries and lawmakers - which are in charge of negotiating the final law in the coming months - have each agreed to weaken the rules. Green lawmakers criticised the vote as a missed chance to reduce the roughly 70,000 premature deaths per year in Europe attributed to vehicle pollution. "The EU is missing the opportunity to be the future leader in green technology," Green EU lawmaker Bas Eickhout added.

Persons: Yves Herman, Alexandr Vondra, Bas Eickhout, Adolfo Urso, Kate Abnett, Alvise Armellini, Sharon Singleton Organizations: REUTERS, Rights, New, European Commission, Commission, Italy's Industry, EU, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Union, Europe, Italy, Czech Republic

Asia's imports of seaborne thermal coal climbed to 75.77 million metric tons in October from 70.29 million in September, according to data compiled by commodity analysts Kpler. The October volume was also above the 69.63 million metric tons imported in the same month last year. While physical demand for seaborne thermal coal is solid in Asia, the same can't be said for prices. China mainly buys thermal coal from the two biggest exporters, Indonesia and Australia. Overall, the combination of weaker Chinese domestic prices and waning European demand may prove sufficient to keep pressure on seaborne thermal coal prices in Asia, even if volumes remain solid.

Persons: Loren Elliott, Shri Navaratnam Organizations: Rights, Argus, Newcastle, Reuters, Thomson Locations: Owen, Ravensworth, Australia, Rights LAUNCESTON, Asia, China, India, Japan, South Korea, Indonesia, Beijing, Canberra, Europe, Ukraine, Turkey, South Africa, U.S

(AP) — South Dakota Republican Gov. Kristi Noem has requested guidance from the state’s Supreme Court about conflict-of-interest rules for lawmakers, several weeks after a South Dakota state lawmaker resigned and agreed to repay $500,000 in federal COVID-19 relief that she received for her day care business. Doing so violated a state Supreme Court advisory warning state lawmakers that it is unconstitutional for them to accept federal pandemic funding. Noem, Attorney General Marty Jackley and two Republican lawmakers have sent letters to the court seeking clarity on what else is illegal, the Sioux Falls Argus Leader reported Thursday. Schoenbeck added that, depending on the court’s ruling, a number of lawmakers may need to resign or pay the state back for services received.

Persons: PIERRE, S.D, Kristi Noem, Jessica Castleberry, Marty Jackley, Noem, Sen, Lee Schoenbeck, Schoenbeck Organizations: South Dakota Republican Gov, Argus, Argus Leader Locations: South, Dakota, Sioux, Watertown, South Dakota’s

☆ Green Steel Is Coming. Europe Is Leading the Charge Thanks to New Carbon Taxes.
▼ + stars: | 2023-10-26 | by ( Yusuf Khan | ) www.wsj.com time to read: +7 min

The need for conversion to low-carbon steel production is greater in Europe, where 57% of steel is produced in coal-fired blast furnaces. Swedish-based startup H2 Green Steel has signed deals to supply low-carbon steel to IKEA, Mercedes-Benz , BMW and Scania. Customers of H2 Green Steel have been willing to support the project based on their own green targets and their end-customers’ willingness to pay a green premium, he said. H2 Green Steel said it would charge a €150 premium, while Swedish steelmaker SSAB expects to charge double that. Research from the Rocky Mountain Institute suggests the IRA will encourage green steel investments that would, by 2030, produce about eight million tons of low-carbon steel, or nearly 10% of U.S. steel demand.

Persons: fabian strauch, ”, Colin Richardson, incentivizing, CBAM, Nicola Davidson, Davidson, Henrik Henriksson, Mikael Sjoberg, ” Henriksson, Gunnar Güthenke, SSAB, Europe ”, Simone Tagliapietra, Paul Lim, ” Lim, Yusuf Khan Organizations: Leadership Group, Industry, Argus Media, Rocky Mountain Institute, U.S ., Business, International Energy Agency, Investments, Steel, IKEA, Mercedes, Benz, BMW, Scania, H2, Bloomberg, Research, Europe, Bruegel, U.S Locations: Europe, U.S, Brussels, London, European, Lakes , Texas, Pacific, China, Asia

☆ Comments on Morgan Stanley naming Ted Pick as CEO
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, U.S. April 17, 2017. REUTERS/Shannon Stapleton/File photo Acquire Licensing RightsOct 25 (Reuters) - Below are some quotes from banking observers and CEOs about Morgan Stanley's (MS.N) naming of insider Ted Pick on Wednesday as its chief executive officer effective Jan. 1, replacing long-time leader James Gorman. DAVID SOLOMON, CEO, GOLDMAN SACHS"First, I want to congratulate James Gorman for his very successful run as CEO at Morgan Stanley. James has been a remarkable CEO, a builder, a competitor, but also a great friend. I also congratulate Ted Pick on his appointment as the incoming CEO.

Persons: Morgan Stanley, Shannon Stapleton, Morgan Stanley's, Ted Pick, James Gorman, BRIAN MULBERRY, MOODY'S, STEPHEN BIGGAR, Eaton Vance, DAVID SOLOMON, GOLDMAN SACHS, James, We're, BRIAN MOYNIHAN, KENNETH LEON, MARK NARRON, FITCH, Saeed Azhar, Nupur Anand, Lananh Nguyen, Rod Nickel, Sonali Paul Organizations: REUTERS, ANA, Gorman, Wealth, OF, Thomson Locations: New York, U.S

☆ Morgan Stanley's James Gorman wanted to pull off a rare feat: a bloodless succession. Wall Street thinks the bank may have done it, but it's too soon to tell.
▼ + stars: | 2023-10-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

The executive leadership team is viewed as a well-oiled machine with Morgan Stanley thriving compared to its megabank peers. Leaving Morgan Stanley would require going outside their comfort zone. Employees from these executives' righthand men and rank-and-file Morgan Stanley staffers may not welcome these changes. "You would expect everyone's guard to be raised at Morgan Stanley to monitor employee reaction and manage at least the best performers." Do you work for Morgan Stanley?

Persons: Morgan Stanley's James Gorman, Ted Pick, Dan Simkowitz, Andy Saperstein, Gorman, Glenn Shorr, Glenn Schorr, It's, Mike Mayo, they've, Mayo, Morgan Stanley, Pick's anointment, Pick, fides, Morgan, America's Ebrahim Poonawala, Poonwala, Stephen Biggar, Simkowitz, Saperstein, Let's, Schorr, Hayley Cuccinello Organizations: America's, Mitsubishi, Financial Times, Management Locations: Wells Fargo, Saperstein, Mayo, Simkowitz, hcuccinello@insider.com

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. Saperstein, who leads wealth management, will remain co-president and head of wealth, and take on additional responsibilities overseeing investment management. Simkowitz, head of investment management, will become co-president and head of institutional securities. GORMAN'S LEGACYGorman joined Morgan Stanley in February 2006 and was named co-president the following year. Gorman "guided a traditional, white-shoe investment bank through a transformative and successful evolution into a diversified, dynamic wealth management institution," said Ana Arsov, managing director at Moody's.

Persons: Morgan Stanley, Brendan McDermid, Morgan Stanley's, Ted Pick, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, Pick, Brian Mulberry, John Mack, Brian Moynihan, Jamie Dimon, Eaton Vance, Stephen Biggar, Biggar, bachelor's, Ana Arsov, Manya Saini, Niket, Tatiana Bautzer, Lananh Nguyen, Nupur Anand, Saeed Azhar, Megan Davies, Anil D'Silva, Devika Syamnath, Sonali Paul Organizations: New York Stock Exchange, REUTERS, Wall, Zacks Investment Management, Wall Street's, Bank of America, JPMorgan Chase, Trade Financial Corp, Eaton Vance Corp, Argus Research, University of Melbourne, Columbia University, Thomson Locations: New York City, U.S, Wall, Gorman, Australia, Bengaluru, New York

But even EU countries clashed over how ambitious to be - and their ministers were locked in talks into the evening on Monday. The faultlines tended to fall between wealthier EU members seeking rapid climate action, and poorer economies concerned about the cost of quitting fossil fuels. Another submission, by Saudi Arabia, did not explicitly mention a fossil fuel phase-out. 'NOT VERY HOPEFUL'The resistance shows how hard it will be to strike an ambitious climate deal at COP28. "I am not very hopeful," Carlos Fuller, U.N. climate negotiator for Belize, said of the fossil fuels phase-out - which Belize supports.

Persons: Wolfgang Rattay, Carlos Fuller, COP28, Jennifer Morgan, Natalie Jones, Kate Abnett, Glwadys Fouche, Katy Daigle, Barbara Lewis Organizations: REUTERS, Rights, Diplomats, Reuters, African Group, International Institute for Sustainable Development, Thomson Locations: Niederaussem, Germany, Rights BRUSSELS, Poland, Czech Republic, COP28, Russia, Saudi Arabia, Belize, COP27, China, Japan, United States, Colombia, Norway, U.N, Paris, Oslo

The EU is typically one of the most ambitious negotiators at the annual United Nations climate talks, where nearly 200 countries negotiate efforts to fight global warming. A central decision will be whether countries at the COP agree for the first time to phase out fossil fuels. EU countries must agree their negotiating position unanimously, meaning one government can block it. EU countries opposing a full phase-out include poorer nations who fear the impact of weaning their economies off fossil fuels. The brackets around "unabated" indicate EU countries have not yet agreed on the word.

Persons: Rula, EU's, Kate Abnett, Jan Strupczewski, Emelia Organizations: Abu Dhabi Sustainability, REUTERS, Union, EU, United Nations, Reuters, Thomson Locations: UAE, Abu Dhabi, BRUSSELS, United, Dubai, Denmark, France, Germany, Ireland, Netherlands, Slovenia, Czech Republic, Hungary, Italy, Malta, Poland, Slovakia, Saudi Arabia

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