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☆ Biden administration pushes to revitalize coal communities with clean energy projects
▼ + stars: | 2023-04-04 | by ( Emma Kinery | ) www.cnbc.com time to read: +5 min

The Biden administration is channeling hundreds of millions of dollars from recent legislation into its efforts to turn coal communities into clean energy hubs, the White House said Tuesday. The effort includes $450 million from the Bipartisan Infrastructure Law that the Department of Energy will allocate to an array of new clean energy demonstration projects on former mine lands. Many of the initiatives are made possible through the Bipartisan Infrastructure Law, Chips and Science Act and the Inflation Reduction Act. The administration touted the potential benefits of the Inflation Reduction Act, a bill passed by Democrats to spur clean energy investments last year. The Biden administration said the working group has funneled over $14.1 billion in federal investments into the select communities.

☆ U.S. issuing new childcare guidance for semiconductor chips subsidy program
▼ + stars: | 2023-03-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 27 (Reuters) - The Biden administration on Monday will release new guidance for its $52 billion U.S. semiconductor manufacturing and research program detailing how companies seeking major awards must provide affordable high-quality childcare. The Commerce Department plans to begin accepting applications in late June for a $39 billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. Some Republicans have criticized Commerce Department conditions including childcare requirements. Semiconductor companies have already announced more than 40 new projects including nearly $200 billion in private investments to increase domestic production.

☆ A 27-page report breaks down where the money is flowing in sports tech and the investors to watch. Here were 5 key takeaways.
▼ + stars: | 2023-03-22 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Investment bank Drake Star broke down dealmaking in 2022 and what it means for the year ahead. Sports tech M&A activity in 2022, from Drake Star's Global Sports Tech Report 2022. Drake Star Global Sports Tech Report 2022The fourth quarter saw a surge in M&A volume with 67 deals, the most in the sector's recent history. More sports tech companies could explore public listings in the second half of the year. "Some of the IPO ready sports tech companies are expected to explore IPO/SPAC listings."

Welcome to CNBC Select's advice column, Getting Your Money Right , where financial advisor Kristin O'Keeffe Merrick will be answering your pressing money questions. I have yet to meet someone who likes tax season, but I can definitely help make it less painful for you. Every year when tax season comes around, I find that I am overwhelmed by what I need to do in order to prepare. Filing electronically is more efficient and helps you receive your money from the IRS much faster. All the best,KristinKristin O'Keeffe Merrick is a Financial Advisor and money expert at her family-run firm, O'Keeffe Financial Partners, located in Fairfield, NJ.

☆ UK growth demands better-directed fiscal fireworks
▼ + stars: | 2023-03-13 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

As a former health minister, Hunt is familiar with the Hippocratic Oath’s principle of “first, do no harm.” That credo didn’t resonate with former finance minister Kwasi Kwarteng. The Institute for Fiscal Studies estimates that borrowing in the current financial year is running 31 billion pounds below the November forecast by the Office for Budget Responsibility (OBR), the UK’s independent fiscal watchdog. A further 6 billion pounds will freeze fuel duties, avoiding a 23% rise from April. In November, the OBR forecast that Downing Street would meet that goal with just 9.2 billion pounds to spare. That would still cost 11 billion pounds a year but would boost investment by 5% in the long run.

Real estate crowdfundingReal estate crowdfunding is a strategy that allows enterprises to raise capital from large groups of individuals. Real estate investment trusts (REITs)If you want to wade into real estate, investing in a real estate investment trust (REIT) will provide exposure to the market without the time and cost commitment of buying your own property. Invest in your own homeFinally, if you want to invest in real estate, look closer to home — your own home. Strategies for successful real estate investingWhatever form your real estate investment takes, certain strategies will stand you in good stead. Pure investment plays — which don't involve hands-on management from you — include real estate crowdfunding, investing in real estate limited partnerships, and buying into real estate investment trusts.

☆ Ukraine's economy stabilizes after shock of war
▼ + stars: | 2023-02-27 | by ( Olena Harmash | ) www.reuters.com time to read: +9 min

The economy shrank by a third last year, the largest fall since Ukraine's independence from the Soviet Union in 1991. ArcelorMittal Kryvyi Rih, Ukraine's largest steel mill, said its production was currently at about 25% of pre-war levels amid electricity blackouts. Ukraine's central bank predicts GDP will grow by 0.3% this year, while the economy ministry forecasts 3.2% growth. The agreement saved Ukraine's agriculture, which accounted for about 12% of GDP and some 40% of overall exports before the war. The steel sector, a key pillar of the economy, is among the hardest hit.

☆ How Wall Street firms lift the velvet rope on funding deals for buzzy startups like Stripe for their wealthiest clients
▼ + stars: | 2023-02-24 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs has invited wealth management clients to invest in fintech unicorn Stripe, as reported by Bloomberg. The message was a rare peek into how the richest bank clients can access investments normally off-limits to individual investors. Insider redacted the wealth management vice president's name and email address to protect their privacy. Citi and JPMorgan, for instance, both have teams dedicated to direct private investments for private bank clients. Private wealth is a real power alley for us, and those continue to be good sources of funding," said Salisbury at a conference in September.

☆ 'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid
▼ + stars: | 2023-02-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid. The Managing Director of the IMF warned that we need to "think of the unthinkable," as we live in "a more shock-prone world" impacted by the Covid-19 pandemic, Russia's invasion of Ukraine and the recent earthquake across Syria and Turkey. The IMF chief signaled the need for resilience in our planet, in societies that must allow equal opportunities, and in people, who must benefit from education, health and good social protection. "We are not where we should be in being good stewards of our planet for our children," Georgieva added. "In Ukraine, people strongly believe they are fighting not just for themselves, they are fighting for the right of every nation to exist and run its own affairs," she added.

☆ Third Point's Dan Loeb makes a number of changes to his portfolio, including adding an insurer
▼ + stars: | 2023-02-09 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Third Point's Dan Loeb made a slew of moves to his portfolio last quarter, including building a new stake in a big insurer. Loeb said the company has undergone a massive overhaul since the financial crisis and is well positioned for profitable growth. Loeb said AIG has transformed into a property and casualty insurance pure play after the IPO of its retirement arm Corebridge Financial in September. "This is an important catalyst for the business," Loeb said. AIG 1Y mountain AIG Meanwhile, Loeb said he added to his Bath & Body Works position significantly last quarter.

☆ Ron Baron, who runs one of the best-performing funds, says Tesla could hit $15,000 a share by 2030
▼ + stars: | 2023-02-07 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Longtime investor Ron Baron said he's standing by his growth darlings, unfazed by the volatility in the stock market, especially in the tech sector. "I'm not really worried about the stock market," Baron said on CNBC's " Squawk Box " Tuesday. I'm thinking $15,000 a share by 2030," Baron said. Last year, he revealed that this biggest purchases of 2022 included $100 million worth of SpaceX private investments. "It used to cost you $100 million to get to space, $200 million more for a satellite.

☆ Ron Baron, who runs one of the best-performing funds, says Tesla could hit $1,500 a share by 2030
▼ + stars: | 2023-02-07 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Longtime investor Ron Baron said he's standing by his growth darlings, unfazed by the volatility in the stock market, especially in the tech sector. "I'm not really worried about the stock market," Baron said on CNBC's " Squawk Box " Tuesday. Elon Musk's Tesla has a 30% portfolio weighting in Baron's fund, the biggest holding in the portfolio. Last year, he revealed that this biggest purchases of 2022 included $100 million worth of SpaceX private investments. "It used to cost you $100 million to get to space, $200 million more for a satellite.

☆ China set to launch long-awaited IPO reforms to reset the economy
▼ + stars: | 2023-02-02 | by ( Laura He | ) edition.cnn.com time to read: +3 min

A surveillance camera outside the China Securities Regulatory Commission (CSRC) building in Beijing on July 9, 2021. Tingshu Wang/ReutersUnder the new system, regulators will stop vetting planned share sales by companies. Currently, listings on the main boards of the Shanghai and Shenzhen stock exchanges must be reviewed and approved by regulators before they can be launched. Financial stress has surged, even as the economy has started to recover after three years of strict pandemic controls. Following a chaotic exit from its zero-Covid policy, Beijing is trying to reset the economy and rebuild the trust of investors and businesses.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

☆ India budget to raise capital expenditure by 33% as jobs, infrastructure take priority
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: +1 min

India's Finance Minister Nirmala Sitharaman and other finance ministry members on the way to present the budget at the parliament on Feb. 1, 2023. India's government will raise its capital expenditure by 33% to 10 trillion rupees ($122.29 billion) in the next fiscal year, the finance minister said on Wednesday, as Prime Minister Narendra Modi tries to create jobs ahead of a general election. "After a subdued period of the pandemic, private investments are growing again," Nirmala Sitharaman said in parliament, referring to the Covid-19 crisis. "The budget makes the need once again to ramp up the virtuous cycle of investment and job creation. Capital investment is being increased steeply for the third year in a row by 33% to 10 trillion rupees."

☆ Despite India's economic growth, few jobs and meagre pay for urban youth
▼ + stars: | 2023-01-20 | by ( Manoj Kumar | ) www.reuters.com time to read: +7 min

He has since remained unemployed, unable to pay back a 100,000 rupee ($1,224) loan he took to buy a two-wheeler scooter. The rising unemployment in India belies other indicators suggesting the economy is undergoing a healthy rebound from the COVID-19 pandemic. Instead, the surge in people looking for work, many of them rural migrants, raises concerns about consumption and longer term growth prospects. The urban unemployment rate swelled to 10.1% in December, although the total number of jobs in India touched a pre-pandemic level of 410 million, data compiled by Mumbai-based think-tank Centre for Monitoring Indian Economy (CMIE) showed. Urban unemployment spiked during the pandemic years, largely because of lockdowns, but before that it hovered between 6%-7%, according to CMIE data.

☆ A chief investment officer overseeing $256 billion in assets shares the key market areas he's most bullish on to ride out the bumpy first half of 2023
▼ + stars: | 2023-01-15 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Leo Grohowski believes that after a bumpy ride, markets should recover in the second half of 2023. After last year's stock market slump, it's understandable that investors want to leave 2022 far behind in the rearview mirror. On the other hand, Grohowski believes that high yield spreads, which look "very attractive" now, could weaken along with economic growth in 2023. Grohowski believes that high-quality companies with strong dividends and high cash flows will continue to thrive this year just like they did last year. Assets such as private investments, commodities, and real estate can also help investors hedge against inflation and potential market dislocations.

☆ Biden says U.S. economy headed to 'new plateau,' amid recession fears
▼ + stars: | 2023-01-05 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

While investors, many economists and some CEOs have warned recently that a U.S. recession is due in 2023, the Biden administration considers it unlikely, in part because of federal spending. "We're the only country in the world who's come out of the crisis stronger than we went in." read moreSt. Louis Federal Reserve leader James Bullard said Thursday that the risk of a U.S. recession has fallen in recent weeks. The Federal Reserve predicts 0.5% growth in 2023, for example. Biden's upbeat comments came as Wall Street's main indexes closed more than 1% lower, with evidence of a tight labor market eating away at any hopes investors had that the Federal Reserve could soon pause its rate hike cycle.

☆ Zelenskyy, BlackRock CEO Fink agree to coordinate Ukraine investment
▼ + stars: | 2022-12-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Volodymyr Zelenskiy, Ukraine's president, meets with US President Joe Biden in the Oval Office of the White House in Washington, DC, US, on Wednesday, Dec. 21, 2022. Ukrainian President Volodymyr Zelenskyy and BlackRock CEO Larry Fink agreed to coordinate investment in rebuilding Ukraine, Kyiv announced on Wednesday following a meeting between the two men. BlackRock Financial Markets Advisory and the Ukrainian Ministry of Economy signed a memorandum of understanding in November, after Fink and Zelenskyy met in September to discuss driving public and private investments into Ukraine to rebuild the country after Russia's highly destructive invasion. A spokesperson for BlackRock was not immediately available for comment. Zelenskyy last week visited Washington D.C. to meet with U.S. President Joe Biden and deliver an address to Congress, as the U.S. House of Representatives gave final approval on Friday to a $45 billion aid package for Ukraine.

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Japan lawmaker says TSMC is considering second plant in Japan
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 23 (Reuters) - A senior Japanese lawmaker said on Friday that Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chip maker, is considering building a second plant in Japan in addition to an $8.6 billion dollar facility now under construction. "I believe TSMC is looking into further investments in Japan. TSMC said in an emailed statement that it did not rule out any possibility for Japan but there were no concrete plans at the moment. The Taiwanese company is building a chip plant in southern Japan, with Sony Group Corp (6758.T) and auto parts maker Denso Corp (6902.T) each taking a minority stake. "Technological innovation is fierce in the semiconductor industry," Seki said.

☆ Turnover surges as funds rush to exit private equity stakes
▼ + stars: | 2022-12-19 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Conceived as an illiquid but lucrative method of accessing unlisted companies, private investments are typically structured into funds run by buyout firms. Investment firm Hamilton Lane says an unprecedented $224 billion in private equity stakes have been offered in the secondary market this year to mid-November. Others want to deploy their capital elsewhere - a sign that private equity funds are no longer so highly regarded. The need to sell to rebalance can occur when, as this year, private equity funds have outperformed public markets. On paper, plenty of private investments, which are typically valued quarterly, appear to have done very well this year.

New York CNN —FTX founder Sam Bankman-Fried was indicted on eight criminal charges including wire fraud and conspiracy by misusing customer funds, according to an indictment from the US Attorney of the Southern District of New York. Separately Tuesday, US markets regulators charged Bankman-Fried with defrauding investors and customers in his failed crypto exchange FTX. The Securities and Exchange Commission said Bankman-Fried, “orchestrated a years-long fraud” to conceal from FTX investors the diversion of customer funds to Alameda Research, his crypto-trading hedge fund. Star athletes and celebrities who backed FTX also reportedly received a stake in the company, including Tom Brady and Gisele. That meant there was no meaningful distinction between FTX customer funds and Alameda’s funds that Bankman-Fried used as his “personal piggy bank,” the complaint says.

☆ The SEC is bringing charges against Sam Bankman-Fried – here are the key takeaways from the filing
▼ + stars: | 2022-12-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +6 min

The SEC has filed charges against FTX founder Sam Bankman-Fried. It alleges that he was "orchestrating a massive, years-long fraud" by misusing customer funds. It alleges that the FTX founder violated the Securities Act by misusing customer funds for his own benefit, and hiding debts from investors. It alleges Bankman-Fried "used Alameda as his personal piggy bank to buy luxury condominiums, support political campaigns, and make private investments, among other uses." Bankman-Fried misled investors by saying "assets are fine"On November 7 – just four days before FTX filed for bankruptcy – Bankman-Fried tweeted "FTX is fine.

☆ Ukraine’s Nestlé boost is as important as EU aid
▼ + stars: | 2022-12-13 | by ( ) www.reuters.com time to read: +2 min

Consumer group Nestlé (NESN.S) on Monday announced a small war-time investment in Ukraine which may be as important for the country’s future as an 18 billion euro European Union aid package agreed on the same day. Nestlé will invest 40 million Swiss francs (41 million euros) in a new facility that will help to produce cold sauces, seasonings, soups and instant food. The Swiss consumer group, which already has 5,800 employees in the country, will add 1,500 new jobs in the process. Meanwhile the EU struck a deal with holdout Hungary that will allow it to disburse aid to Ukraine next year. While still at war with Russia, Ukraine needs Western aid to help the government pay its teachers, doctors and soldiers, and start rebuilding railroads and power plants.

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