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CNN —A squat, light-colored building in Tigard, Oregon, was supposed to be part of a game-changing new solution for the global plastics industry. And unlike mechanical recycling, where the quality of the product declines each time, chemical recycling promises virgin-quality plastics. Chemical company Dow says it plans to build multiple chemical recycling facilities in the US and Europe, adding as much as 600,000 tons (1.2 billion pounds) of recycling capacity by 2030. “Mechanical recycling simply uses less energy and chemicals than does chemical recycling, making it overall cheaper and less environmentally impactful,” she said. With that kind of industry pressure, said Congdon, it’s easy to see why chemical recycling may be attractive to policymakers.
Persons: Jennifer Congdon, Congdon, , , Big, Yuri Cortez, Davis Allen, what’s, isn’t, Taylor Uekert, Chaideer Mahyuddin, Mike Kemp, Brightmark, NREL’s Uekert, Allen, ” Congdon Organizations: CNN, Regenyx, Plastics, Getty, Climate Integrity, Companies, Chemical, Dow, Oil, Exxon, American Chemistry Council, National Renewable Energy Laboratory, Beyond Plastics, ACC, Center Locations: Tigard , Oregon, Venezuela, AFP, Europe, Asia, Banda Aceh, Indonesia, London, Baytown , Texas, Ashley , Indiana, Macon, Bibb , Georgia, Indiana, The Indiana
Those searching for pockets of opportunities in the region can look to Goldman Sachs' selection of "alpha" stock opportunities. Goldman Sachs' list of opportunities include stocks with "deep value" and "defensive growth" characteristics. The company's shares are traded in the First Trust United Kingdom AlphaDEX Fund (1.2% weight) and Goldman Sachs ActiveBeta Europe Equity ETF (0.3%). 'Strong top-line prospects' Growth stocks the Wall Street bank is bullish on include those "with strong top-line prospects at reasonable growth-adjusted valuations." ASML: Goldman said the company has a "multi-decade competitive moat in High NA, which will be extremely difficult to replicate for the next 10-20 years at least."
Persons: Goldman Sachs, JD, Goldman, ASML, CNBC's Michael Bloom Organizations: Alpha, Sports Fashion, International Consolidated Airlines Group, ISS, First, United, AlphaDEX Fund, Equity, U.S . Global Jets ETF, NA, Euronext Amsterdam, Nasdaq Locations: U.S, Danish, Europe, Adyen
Calvin Klein, a brand that recently made waves with an ad campaign featuring the actor Jeremy Allen White in nothing but his underwear, is getting a little more buttoned up. On Thursday, it announced it would restart its high-end Collection business under a new creative director, Veronica Leoni, along with a return to the runway — and, perhaps, to its former position as a tentpole of New York Fashion Week. Ms. Leoni will be the first named designer Calvin Klein has had in five years and the first woman to lead the house. She is one of the few women to be appointed to the top of the creative side of a major brand in the last year, when most of the big jobs have been given to white men. Calvin Klein reported 2023 revenues of $3.9 billion, a growth of only 3 percent.
Persons: Calvin Klein, Jeremy Allen White, Veronica Leoni, Ms, Leoni, Valentino, Alexander McQueen, Moschino Organizations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should be close to their risk tolerance, says T. Rowe Price's Sebastien PageSebastien Page, T. Rowe Price global head of multi-asset, joins 'Closing Bell' to discuss his expectation for tomorrow's PCE report and his market playbook.
Persons: Rowe Price's Sebastien Page Sebastien Page, Rowe Price Organizations: PCE
The Right Kind of Tipping Point
  + stars: | 2024-05-30 | by ( David Gelles | ) www.nytimes.com   time to read: +1 min
It’s worth dwelling on the significance of what could be a remarkable inflection point. For centuries, the burning of coal, oil and gas has produced huge volumes of planet-warming gasses. This projection is in roughly in line with other estimates, including a recent report from Climate Analytics. Thanks to the rapid build-out of wind and solar power plants, particularly in China, global emissions from the power sector are set to decline this year. Last year, the amount of renewable energy capacity added globally jumped by almost 50 percent, according to the International Energy Agency.
Organizations: Climate Analytics, International Energy Agency Locations: China
And among those watching most closely are world leaders near and far. Of course, world leaders have generally stayed mum on the issue of which man they prefer – although I would wager that most favor the status quo over a return to the raucous years of Trump’s presidency. Some world leaders have already signaled their aversion to another Trump presidency. But for these foreign leaders, coming out against Trump is a move that is chock full of risks. The stakes in this election are too high for global leaders to stay mum.
Persons: Michael Bloomberg, Read, Joe Biden, Donald Trump, Biden “, , Trump, Trump’s, , Hank Sheinkopf, Biden, Javier Milei, Israel’s Netanyahu, Victor Orbán, Russia’s Vladimir Putin, it’s, Justin Trudeau, isn’t, Brazil’s Luiz Inácio Lula da Silva, octogenarian Biden, “ Trump, Sheinkopf, Don’t, Team Biden, Organizations: New York, CNN, Trump, NATO, , Biden, Canadian, Worker’s Party, Team Trump, Team Locations: United States, Latin America, Africa, America, Asia, China, Argentina, Hungary, Brazilian, Gaza, Brazil, Russia, India, South Africa, Washington
We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.
Persons: , That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea
The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.
Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York
SINGAPORE — Singapore is pushing for green data centers as the explosive demand for artificial intelligence puts a strain on energy resources. The city-state launched a green data center roadmap on Thursday to support its ambitions for the digital economy as demand for AI and computing grows. The roadmap aims to provide at least 300 megawatts of additional capacity in the near term, with more through "green energy deployments." Plans to provide additional data center capacity include raising energy efficiency of all data centers in Singapore, deploying energy-efficient IT equipment as well as offering incentives or grants for resource efficiency. The AI boom has boosted demand for data centers which house large amounts of data required to train and deploy AI models, making them extremely energy intensive.
Persons: Janil Puthucheary, IMDA, Tony Blair Organizations: State for Communications, Media Development Authority, Tony Blair Institute for Global Locations: SINGAPORE — Singapore, Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRentals positioned to benefit from housing shortage, says Morgan Stanley's Laurel DurkayLaurel Durkay, Morgan Stanley head of global listed real assets, joins CNBC's 'The Exchange' to discuss the housing market affordability crisis, stocks that might benefit from these challenges, and more.
Persons: Morgan Stanley's Laurel, Morgan Stanley's Laurel Durkay Laurel Durkay, Morgan Stanley Locations: Morgan Stanley's Laurel Durkay
Harley Davidson was my first opportunity to work on the client side of marketing, not the agency side. AdvertisementThis pattern became more unhealthy at Harley Davidson. He was telling me, "You're going to be the president of Harley Davidson. Shortly after, I started drinking heavily to cope with the stress and help myself fall asleep. AdvertisementI quit Harley Davidson in September 2016, and I stopped having nightmares.
Persons: , Shelley Paxton, Hagen Dazs, I'd, Harley Davidson, wouldn't, You've, Harley, I've Organizations: Service, Business, Boston College, AOL, Visa, Global Integrated Marketing, Omnicom Media Locations: Minneapolis, East, Boston, Chicago, Europe, Istanbul, United States, Shanghai, France, New Zealand, Canada, Italy
The encampments have been cleared, campuses have emptied; protester and counterprotester alike have moved on to internships, summer gigs and in some cases, the start of their postgraduate careers. Leaving aside what impact, if any, the protests had on global events, let’s consider the more granular effect the protests will have on the protesters’ job prospects and future careers. A 2023 survey of Princeton seniors found that nearly 60 percent took jobs in finance, consulting, tech and engineering, up from 53 percent in 2016. A desire to protect future professional plans no doubt factored into the protesters’ cloaking themselves in masks and kaffiyehs. According to a recent report in The Times, “The fear of long-term professional consequences has also been a theme among pro-Palestine protesters since the beginning of the war.”
Persons: let’s, Organizations: Princeton, The Times, Palestine Locations: The
Beijing's goal now is to minimize any impact from potential sweeping sanctions from the West in "extreme geopolitical scenarios," such as a military conflict over Taiwan, which China claims as its territory, wrote Liu. "Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.
Persons: , Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia
Earlier this month, the Biden administration imposed major new tariffs on Chinese EVs, advanced batteries and other goods. The European Commission is set to announce early next month its own decision on Chinese EV tariffs, which could spell trouble for Chinese EV makers that export hundreds of thousands of cars to Europe every year. In January, Toyota (TM) said it would launch vehicles with solid-state batteries in a few years, according to Reuters. Samsung SDI said in March that it would begin mass producing solid-state batteries in 2027. GAC Group, a state-owned automaker based in Guangzhou, said in November that it had achieved a breakthrough in solid-state batteries and would roll out vehicles with them in 2026.
Persons: Biden Organizations: Hong Kong CNN, China Daily, West, European, EV, Global, Toyota, Reuters, Samsung SDI, Volkswagen, GAC Locations: China, Hong Kong, Europe, Beijing, Guangzhou
Shares of Salesforce dragged the Dow lower after it posted its first revenue miss in nearly 20 years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks continued a painful slide lower on Thursday as traders turned their attention to upcoming inflation data that could set the tone for the market as it heads into the summer months. ET, both indexes became stuck on several websites, though individual stock prices continued to update normally. Shares of Salesforce dragged the Dow as the stock dropped 20% after it reported its first revenue miss in almost 20 years.
Persons: Stocks, Salesforce, , Dow, David Russell Organizations: Service, Dow Jones, Dow, Treasury, Global, Barclays, Here's
"Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. The yuan faces challenges in its globalizationWhile the US and China's strategic competition points to a possible race for currency supremacy, the Chinese yuan is far from ready — and even Beijing knows that. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.
Persons: , Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia
U.S. PCE data will be 'scrutinized heavily,' strategist says
  + stars: | 2024-05-30 | 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 EmailU.S. PCE data will be 'scrutinized heavily,' strategist saysMehvish Ayub, senior investment strategist at State Street Global Advisors, says last week's purchasing managers' index data was "quite a shocker."
Persons: Mehvish Ayub Organizations: U.S, PCE, State Street Global Advisors
New York CNN —The most important carmaker in the world right now is the Chinese-owned, Warren Buffett-backed company that has Elon Musk in a pickle. That’s 1,300 miles in one go — hundreds of miles beyond the standard ranges for other hybrids on the market. One: Tesla is America’s best-selling EV, but it’s losing market share overseas to foreign competitors that can make their cars cheaper. China is the world’s biggest auto market, and BYD is its top seller, surpassing Volkswagen last year. In that exchange, Musk responds to an honest question about BYD rivaling Tesla with a smug laugh.
Persons: CNN Business ’, Warren Buffett, Tesla, Musk, BYD Organizations: CNN Business, New York CNN, Elon, Toyota, Wall Street, Volkswagen, Toyota Prius, Bloomberg Locations: New York, Miami, BYD’s Hong Kong, China, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs more 'confidence' that inflation will be moving sustainably lower: BofA's Mark CabanaMark Cabana, Bank of America Securities head of U.S. rates strategy, joins 'Squawk Box' to discuss the move in global bond yields, what it means for markets, the Fed's rate path outlook, and more.
Persons: Mark Cabana Mark Cabana Organizations: Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal IPOs down 17% despite benign investor sentiment: ION AnalyticsRomaine Jackson, global capital markets specialist at ION Analytics, unpacks the fall in global listings amid political uncertainty.
Persons: ION Analytics Romaine Organizations: ION Analytics
CNN —Elon Musk has sought to accumulate political capital commensurate with his extravagant wealth. Musk has discussed advising Trump should he win the 2024 election, the Journal reported, citing unnamed sources. Musk called Trump directly via cellphone to explore a role that could potentially give Musk significant influence over US policies. Reporting that Musk and Trump’s relationship has improved comes after Musk’s politics have become more aligned with Trump’s. For Musk to have a direct, private line to a future President Trump “would seem to be a blatant conflict of interest,” said Darrell West, a senior fellow in the governance studies program at the Brookings Institution.
Persons: CNN — Elon Musk, Musk, Donald Trump, Trump, Brian Hughes, , Andrew Harnik, , Darrell West, ” West, Herika Martinez, , Donald Trump’s, Biden, Ron DeSantis, Robert Kennedy , Jr, Paul Pelosi, Hillary Clinton, White supremacists, Imran Ahmed, X, CCDH, Donie O’Sullivan Organizations: CNN, Republican, Wall Street, Trump, SpaceX, Tesla, Brookings Institution, Securities and Exchange Commission, Federal Trade Commission, Traffic Safety Administration, Justice Department, Migrants, US Border Patrol, AFP, Getty, Twitter, US, Republican Florida, Politico Locations: Paris, El Paso , Texas, Ciudad Juarez, Chihuahua State, Mexico
From left to right: Johan Pihl, Doconomy's chief creative officer and co-founder, and Mathias Wikstrom, chief executive officer and co-founder. DoconomySwedish climate-focused financial technology startup Doconomy told CNBC on Thursday that it's raised 34 million euros ($36.9 million) from leading European banks, including UBS and Commerzbank . Credit ratings agency S&P Global came on board as a new investor, while existing shareholders Motive Ventures, PostFinance and Tenity also participated. watch nowDoconomy plans to use the fresh cash to drive expansion into North America and roll out new products, CEO and co-founder Mathias Wikstrom told CNBC in an interview. Mathias Wikstrom CEO, Doconomy
Persons: Johan Pihl, Mathias Wikstrom, it's, Tenity, Wikstrom, Jordan Peterson, It's, Doconomy Organizations: CNBC, UBS, Commerzbank, UBS Next, P Global, Motive Ventures, PostFinance, Boston Consulting Group, Mastercard, United Nations, Dreams Technology, Citi Ventures, Ikea Locations: Sweden, North America
No reason Europe should lag global equities, Quintet CIO says
  + stars: | 2024-05-30 | 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 EmailNo reason Europe should lag global equities, Quintet CIO saysDaniele Antonucci, chief investment officer at Quintet, discusses the bank's portfolio shift from European bonds to equities.
Persons: Daniele Antonucci Locations: Europe
Keep reading to learn everything you need to know about how to watch the 2024 Women's College World Series, including cable and live streaming options. Since the Women's College World Series picked back up after the 2020 Covid-related cancellation, the University of Oklahoma's softball team has won every year under head coach Patty Gasso. We've put together all of the details you need to live stream the Women's College World Series. How to watch the Women's College World Series in the USThe 2024 Women's College World Series airs across ESPN, ESPN2, ESPNU, and ABC. Shop at SlingHow to watch the Women's College World Series from anywhereIf you'll be traveling outside the US during any of the Women's College World Series, you can always try keeping up with your subscriptions using a VPN.
Persons: Patty Gasso, they'd, you've, We've, There's, ExpressVPN Organizations: Business, NCAA Division, Oklahoma City, Oklahoma Sooners, Women's, University of Oklahoma's, Gasso, ESPN, ESPN2, ABC, Games, MLB, NHL, NFL, UFC, Hulu, Disney Plus, ESPN Sling Locations: Oklahoma, While Oklahoma, Texas
The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following its takeover of fallen rival Credit Suisse. It marks the first time a divisional UBS president has been based in Asia-Pacific, the bank said. George Athanasopoulos and Marco Valla also join the executive board as co-presidents of the investment bank, alongside Damian Vogel, incoming global chief risk officer. The trio replace outgoing board members Credit Suisse CEO Ulrich Korner, UBS Asia-Pacific President Edmund Koh, and UBS Americas Regional President Naureen Hassan.
Persons: Iqbal Khan, Rob Karofsky, Sergio Ermotti, Ermotti, George Athanasopoulos, Marco Valla, Damian Vogel, Ulrich Korner, Edmund Koh, Naureen Hassan Organizations: UBS, LONDON, Credit Suisse, Group, Credit, UBS Americas, Swiss Locations: London, Swiss, Asia, Pacific, U.S, Americas, UBS Asia
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