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☆ [WATCH NOW] Create a culture of ownership to drive business growth
▼ + stars: | 2023-11-02 | by ( Sponsor Post | Created Insider Studios With Morgan Stanley At Work | ) www.businessinsider.com time to read: +6 min

Comprehensive equity strategies are an effective way to create a culture of ownership. Prioritizing a transparent and open dialogue can facilitate a culture of ownership and community where employees understand the value they bring to the company and their role in business success. Not only does this lead to more satisfied employees, but it also helps drive sustainable business growth. Among them: Incorporating equity compensation into a broader compensation strategy that aligns with your company's values and culture. In the US, for example, workplace financial benefits like equity compensation are often considered individual benefits for the employee.

Persons: Teri McFadden, Morgan Stanley, Rodney Bolden, Shawn Murphy, Murphy, Laura St, Charles, —, isn't, McFadden, there's Organizations: Norwest Venture Partners, Work, of Law, Economics, Insider Studios Locations: St

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

☆ Australia's NAB targets at least $633 mln in lending to indigenous businesses
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney, Australia August 4, 2017. Earlier this year, a review by the country's corporate regulator found banks were falling short of meeting targets for moving First Nations people into low-fee accounts. NAB, the country's second biggest lender, said the new lending target highlights a surge of more than 140% based on its current lending of just A$413 million helping stimulate "sustainable business growth" among indigenous communities. "During the last two years, we have put the building blocks in place to better support our growing First Nations business customer base, from both a commercial and cultural perspective," said Andrew Irvine, NAB Group Executive Business and Private Banking. ($1 = 1.5780 Australian dollars)Reporting by John Biju in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Andrew Irvine, John Biju, Krishna Chandra Eluri Organizations: National Australia Bank, REUTERS, Nations, NAB, Executive Business, Private Banking, Thomson Locations: Sydney, Australia, Bengaluru

☆ Activist Impactive sees an opportunity to build value with an ESG tilt at Concentrix
▼ + stars: | 2023-10-28 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Concentrix provides technology-infused customer experience (CX) solutions and runs customer service for 2,000 customers globally. They are the second largest outsourced CX company globally and provide CX process optimization, technology innovation, front- and back-office automation, analytics and business transformation services. Activist Commentary: Impactive Capital is an activist hedge fund founded in 2018 by Lauren Taylor Wolfe and Christian Alejandro Asmar. Impactive Capital is an active ESG (AESG) investor that launched with a $250 million investment from CalSTRS and now has almost $3 billion. Concentrix, the second-largest outsourced CX company globally, is a high-quality business.

Persons: Lauren Taylor Wolfe, Christian Alejandro Asmar, Wolfe, Asmar, Impactive, Concentrix, Ken Squire Organizations: CX, Impactive, Concentrix, 13D Locations: Impactive, CalSTRS, Asia, Caribbean, United States

☆ Crime spree? Retailers are actually overstating the extent of theft, report says
▼ + stars: | 2023-10-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft. Mentions of “organized retail crime” on companies’ earnings calls increased 43% from January through August from a year ago, the Chamber of Commerce found. Cities and states are passing new laws with harsher punishments for organized retail crime offenses and shoplifting. A Target spokesperson said that organized retail crime increased 50% in its stores since 2021. According to the Chamber of Commerce, 12 states have created new statutes, revised existing statutes, or created enhanced penalties for organized retail crime.

Persons: William Blair, Dylan Carden, Phillip Blee, James Kehoe, Kehoe, Alex Vitale, ”, Donald Trump, Judd Legum, Blair, “, Pew Organizations: New, New York CNN — Retailers, Retailers, “, National Retail Federation, Walgreens, Brooklyn College, Commerce, U.S . Chamber of Commerce, Republican, Costco, Chamber of Commerce, Pew Locations: New York, U.S, San Francisco, Oakland, Seattle, Portland

☆ 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

☆ Brazilian Lawmakers Advance Country’s Regulated Carbon Market
▼ + stars: | 2023-10-26 | by ( Paulo Trevisani | Luciana Magalhaes | ) www.wsj.com time to read: +5 min

A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.

Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, ”, Marcio Astrini, Tereza Cristina —, —, Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com

PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. REUTERS/Lewis Jackson Acquire Licensing RightsSYDNEY, Oct 26 (Reuters) - PwC Australia said on Thursday that dozens of staff who had been set to move across to spin-off consultancy Scyne Advisory will no longer have roles at the new firm and have been told to look for jobs internally. Over 1,500 people out of PwC Australia's more than 9,000 staff were expected to move to the new firm, PwC said in September. A Scyne Advisory spokesperson said a delay in closing the deal, originally planned for September, changes to its "partner mix" and the need to establish Scyne as a "sustainable business" were factors in the decision. The move comes as Scyne Advisory gears up to reclaim advisory work that netted PwC Australia A$680 million ($427 million) last financial year.

Persons: Lewis Jackson, PwC, Kevin Burrowes, Lincoln, Edwina Gibbs Organizations: REUTERS, Rights, Scyne, PwC, PwC Australia, of Finance, Thomson Locations: Barangaroo, Australia, PwC Australia, PwC

☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +23 min

These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.

Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo

☆ Databricks, the $43 billion analytics firm, acquires data startup Arcion for $100 million
▼ + stars: | 2023-10-23 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Databricks has agreed to acquire Arcion, an enterprise data company, for about $100 million, including incentives, CEO Ali Ghodsi told CNBC ahead of an official Monday announcement. The acquisition comes after Databricks announced a $500 million funding round in September at a valuation of $43 billion. Arcion is Databricks' first acquisition since acquiring MosaicML, an AI infrastructure startup specializing in training large language models, for $1.3 billion. It's part of Databricks' AI push, and partly inspired by the tech sector's growing interest in generative AI, which can require a lot of training data. "We think we can make a lot of revenue on this particular acquisition," Ghodsi said.

Persons: Ali Ghodsi, Databricks, Ghodsi, we're, Rajkumar Sen, Miryana Organizations: Databricks Inc, Bloomberg Technology, CNBC, Oracle, Arcion's Locations: San Francisco

☆ Pro Take: Making Medicines Greener
▼ + stars: | 2023-10-19 | by ( Cecilia Butini | ) www.wsj.com time to read: +6 min

Photo: mohamed hossam/ShutterstockMaking and supplying medicines generates roughly a third of the global healthcare industry’s greenhouse-gas emissions. Photo: Carlos Jasso/Bloomberg NewsBritish drugmaker GSK , for instance, plans to run on 100% renewable electricity by 2025 and to reach net-zero emissions across its value chain by 2045. GSK partnered with AstraZeneca , Merck KGaA, Novo Nordisk , Roche Holding , Samsung Biologics and Sanofi to form the SMI Health Systems Task Force in 2021. Last year, the partnership decided to strengthen their collaboration by focusing on cutting emissions in the near term and transitioning faster toward net-zero health systems. Novartis aims to achieve net-zero emissions across its value chain by 2040.

Persons: mohamed hossam, Carlos Jasso, “ We’ve, ”, Mike Peirce, Aurelio Arias, Arias, Claire Lund, Sanofi, Annabelle Harreguy, IQVIA’s Arias, “ It’s, ” Arias, Cecilia Butini Organizations: Pharmaceutical, Pharma, GSK, Bloomberg News British, Climate Group, Climate, Business, Sustainable Markets, Health Systems, Force, AstraZeneca, Merck KGaA, Novo Nordisk, Roche Holding, Samsung Biologics, Sanofi, SMI, Systems, Novartis, World Health Organization, cecilia.butini@wsj.com Locations: GSK’s, China, India, Novo

☆ Hydrogen Demand Is Set to Boom, but Growth Faces Big Hurdles
▼ + stars: | 2023-10-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. Using green hydrogen as fuel for steelmaking can cut emissions by up to 95%, according to H2 Green Steel, a Swedish low-carbon steel startup. Higher interest rates have made securing funding for big infrastructure projects more expensive, with fewer willing to put up the cash, according to Franc. Last week, $7 billion of subsidies dedicated to hydrogen projects in the U.S. were announced by the Energy Department. Faster permitting times are needed to bring more hydrogen projects online, as well as the renewable energy to power their electrolyzers, industry experts say.

Persons: BRIDGET BENNETT, ”, Pierre, Etienne Franc, ” Franc, Jason Cheng, Regulators haven’t, Margery Ryan, Johnson, Todd Anderson, Bram Smeets, Ole Rolser, you’ve, Ryan, “, Yusuf Khan Organizations: REUTERS, McKinsey, Business, Green, ”, Platinum Investment, Energy Department, Regulators, The Wall, International Energy Agency, U.S, Dakotas Locations: Las, Swedish, Franc, U.S, Woodbine , Ga, Midwest, Texas, West, Gulf Coasts

CNN —Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. Here are four charts showing what retailers are facing in those areas where Target is closing stores. The six counties where Target is closing stores saw exoduses in high earners larger than the average for similar counties. Census data also shows that the six counties where Target is closing stores had a higher percentage of remote workers compared to their states as a whole. In the markets where Target is closing stores, the shortages persist.

Persons: it’s, David Johnston, Connor O’Brien, ”, O’Brien, ” O’Brien, Johnston Organizations: CNN, Coresight Research, National Retail Federation, Economic, Group, McKinsey, Department of Commerce, of, Labor Locations: San Francisco Bay Area, Portland, Seattle, New York, it’s, O’Brien

The updates include the addition of memory storage to its developer tools for using AI models. The new features are expected to be rolled out at OpenAI’s first-ever developer conference in San Francisco on November 6, sources said. Keeping developers happy has been a major focus for OpenAI, these sources told Reuters. Earlier this year, the company rushed to release ChatGPT plugins, add-on tools that allow developers to create applications within ChatGPT. Earlier this year, Altman admitted to a group of developers in London that plugins have not gained market traction.

Persons: Sam Altman, Elon Musk, Altman, Musk doesn't, OpenAI, Jasper, ChatGPT, Lakshya Bakshi, Krystal Hu, Anna Tong, Kenneth Li, Nick Zieminski Organizations: Reuters, Elon, Google, Thomson Locations: OpenAI’s, San Francisco, London

☆ Transition Plans Are The Latest Climate Action Trend
▼ + stars: | 2023-10-10 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +3 min

The Transition Plan Taskforce published a framework for companies looking to create transition plans. Photo: London Stock Exchange GroupCompanies have a new climate-action tool: transition plans. Some companies, such as Mars and Allianz , have recently published transition plans. The U.K.’s Transition Plan Task Force published its framework Monday, offering a template for companies looking to create transition plans. Even though disclosure requirements are currently voluntary, transition plans are a live issue for many businesses that can help them shift the conversation to how they can achieve their net-zero goals.

Persons: ”, Mary Schapiro, Amanda Blanc, David Schwimmer, ’ ”, Sue Lloyd, Rochelle Toplensky Organizations: London Stock Exchange Group, Mars, Allianz, London Stock Exchange, Glasgow Financial Alliance, U.S . Securities, Exchange Commission, Force, Business, Aviva Group, ’, Rochelle, rochelle.toplensky@wsj.com Locations: United Nations, Dubai

☆ Target says it's closing 9 locations over crime, but New York City crime stats surrounding its East Harlem store tell another story
▼ + stars: | 2023-10-07 | by ( Dominick Reuter | Jennifer Ortakales Dawkins | Alex Bitter | ) www.businessinsider.com time to read: +8 min

The company plans to open a location on 125th Street — less than 2 miles from the East Harlem store. A police cruiser outside a boarded-up retail store near Union Square in San Francisco in November 2021. Ethan Swope/Getty ImagesIn San Francisco, another complicated narrative on crimeIn San Francisco, a Target on Folsom Street location went viral earlier this year for its aisles of locked-down merchandise . AdvertisementAdvertisementWalgreens had been closing thousands of stores for years before it decided the fate of the five San Francisco locations. "That's why we're actively collaborating with legislators, law enforcement, and retail-industry partners to advocate for public-policy solutions to combat organized retail crime."

Persons: —, Djeneba Kone, she's, Brian Cornell, Jim Joice, Jennifer Ortakales Dawkins, Kone wasn't, That's, there's, Ethan Swope, shoplifters, James Kehoe, Kehoe, Cornell, we're Organizations: Service, Target, Aldi, Costco, East Harlem, New York City Police, St, Herald, East, Seattle Times, San Francisco Police Department, Walgreens, San, San Francisco Chronicle Locations: Harlem, Manhattan , New York, New York, San Francisco, Seattle, Spanish Harlem, El Barrio, Manhattan, Bronx, East Harlem, Columbus, SoHo, Folsom, Target's, Francisco

☆ Q&A With the Sustainability Chief of Oilfield-Services Firm SLB
▼ + stars: | 2023-10-05 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +9 min

The German native joined SLB, formerly known as Schlumberger , in 2021 as its chief strategy and sustainability officer. Katharina Beumelburg, chief strategy and sustainability officer of SLB. Beumelburg: This push toward lowering carbon emissions in the oil-and-gas industry is a major change. The other side is our transition technology portfolio that focuses on bringing the carbon emissions at our customers down. Carbon capture and storage is the obvious short-term solution to reduce carbon emissions, one where the technology is ready, where we know what to do.

Persons: Katharina Beumelburg, SLB, Beumelburg, SLB Beumelburg, Johan Rockström, Rochelle Toplensky Organizations: Sustainability, Siemens, SLB, Schlumberger, Pro, WSJ, Potsdam Institute, Business, Microsoft, Saudi Aramco, Linde, Rochelle, rochelle.toplensky@wsj.com Locations: Greenland, Paris, Texas, Europe, Australia, Japan, South Korea, Davos

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

After two years of receiving federal subsidies, 220,000 child care programs across the country were cut off from funding Saturday. The largest investment in child care in U.S. history, the monthly payments ranged from hundreds to tens of thousands of dollars, and stabilized the industry during the COVID-19 pandemic. She said taxpayers will end up paying more in the long run to welfare programs if the government doesn't make investments now in child care. There are just two child care centers in the entire county, and the community can't afford to lose either one, she said. If West Virginia wants to grow its economy, child care is part the infrastructure necessary for that to happen, Tiffany Gale said.

Persons: WILLIAMSON, W.Va, — Kaitlyn Adkins, wouldn’t, ” Adkins, Adkins, Williamson, she's, ”, Jackie Branch, didn't, Goldie Huff, They’ve, Branch, Melissa Colagrosso, “, Tiffany Gale, she’s, Gale, Gale doesn’t, she'll, —, “ They’re Organizations: Century Foundation, Washington , D.C, D.C, Democratic, Child Care, American, U.S . Bureau of Labor, Children’s, West Virginia’s Department of Health, Human Resources, — Locations: West Virginia, Washington ,, — Arkansas, Montana , Utah, Virginia, Washington, Williamson , West Virginia, Mingo County, U.S, Williamson, Fayetteville , West Virginia, West Virginia's

☆ Mining Old Sites Can be a Shortcut to More Copper for the Energy Transition
▼ + stars: | 2023-10-03 | by ( Yusuf Khan | Mari Novik | ) www.wsj.com time to read: +8 min

In the U.S. and beyond, some are jumping ahead by targeting a new but also old source—closed mines, also known as brownfield sites. In the mountains of northern Norway, Bluelake is seeking to reopen the Joma mine that closed 25 years ago because of low copper prices. “Røyrvik has a valued tradition of mining in the old times,” said Hans Oskar Devik, the leader of the local government. Despite the challenges, brownfield mining is also being seen as a way to help ensure mineral security in the U.S., especially in areas such as defense and energy. Preview SubscribeWhen MP bought its brownfield site in 2017, it had a mining permit but was in a state of disrepair, with the pit itself flooded.

Persons: Arne Hanssen, Bluelake, Bluelake Mineral’s, Arne Hanssen Bluelake’s, Peter Hjorth, ” Hjorth, Joma, “ Røyrvik, ”, Hans Oskar Devik, Maahke Joma, Joma —, Snorre, NRK Joma, wasn’t, James Litinsky, Litinsky, ” Litinsky, Jeremy Richardson, Richardson, Yusuf Khan Organizations: P Global Market Intelligence, Perpetua Resources, Materials, California -, Municipal, Bluelake, NRK, Resources, Defense Department, McKinsey Lyon, Business, Rocky Mountain Institute Locations: Røyrvik, Trøndelag county, Norway, U.S, Sweden, Perpetua, Idaho, Arizona, California, California - Nevada, Germany, Italy, Boise, United States, China

☆ My life as a startup founder is way better because I didn't take VC money. Here are 8 upsides.
▼ + stars: | 2023-10-02 | by ( Melissa Kwan | ) www.businessinsider.com time to read: +6 min

Here are 8 unconventional ways I get to live my life because I didn't take VC money:AdvertisementAdvertisement1. I'm able to make my own scheduleI start my day at noon, go out for dinner, and work until midnight. I'm able to grow slowly – the way that I want to growIt took us 36 months to hit $1 million annual recurring revenue. I can raise capital on my own termsA common misconception with bootstrapped companies is that they raise zero capital. That kind of sacrifice is not for everyone, and sometimes I do wonder whether it'd just be easier to raise capital.

Persons: Melissa Kwan, bootstrapped, Kwan, —, we're Organizations: Service Locations: –, New York

☆ Residents alarmed as shoplifting incidents trigger store departures: ‘As a community we can’t allow this to continue’
▼ + stars: | 2023-09-30 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +10 min

“Having Target here helped revitalize East Harlem with hundreds of new jobs, customers and more services to our area. Courtesy Lou MartinsThe retail industry said it is grappling with a particular type of store theft that is more dangerous than petty shoplifting, called “organized retail crime” or ORC. The East River Plaza shopping center in New York City's East Harlem neighborhood. “The East Harlem store could have been doing very high volume in sales but still losing money because of theft,” Cohen said. The Target store in NYC's East Harlem is set to close in October.

Persons: Lou Martins, “ I’ve, ”, Martins, Maria Gonzalez Arrieta, “ We’ve, ” Lou Martins, Alex Abreu, Abreu, “, ” Abreu, it’s, We’ve, Tom Wickman, ” Wickman, “ Abuelitas, ” Xavier Santiago, Santiago Xavier, Santiago, I’ve, Mark Cohen, ” Cohen, Venkatesh Shankar, ” Shankar, Fatih Aktas, Ted Wheeler, ” – CNN’s Matt Egan Organizations: New, New York CNN, Costco, 118th, Target, eBay, Facebook, ”, East Harlem, Blumfeld, The New York Times, New York Police, Walgreens, Business, US Chamber of Commerce, “, Commerce, Community Board, East, Community, Columbia, Texas, Mays Business School, Anadolu Agency, Blumenfeld, CNN, Portland Police Bureau Locations: New York, Manhattan —, New York City, San Francisco, Seattle, Target, Plaza, Harlem, Aldi, Burlington, Pleasant Avenue, East Harlem, NYC's East Harlem, River, Portland

☆ I visited one of the 9 Target stores about to close. I found sad customers, many of whom blamed theft, and throngs of students hanging out in the aisles.
▼ + stars: | 2023-09-29 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +7 min

Jennifer Ortakales Dawkins/InsiderNaturally, customers like Michelle Rodriguez were stocking up on their cleaning and beauty supplies in preparation for the store's closure. Jennifer Ortakales Dawkins/InsiderEmployees were tight-lipped. Jennifer Ortakales Dawkins/InsiderParents like Krystle Rogers carted their children through the toy section. Jennifer Ortakales Dawkins/InsiderDjeneba Kone used to be one of those kids. Jennifer Ortakales Dawkins/InsiderWhile most of the kids I saw were respectful, that's not to say they don't cause some trouble.

Persons: It's, —, it's, Jennifer Ortakales Dawkins, Michelle Rodriguez, Rodriguez, she's, Let's, Krystle Rogers, She's, she'll, Djeneba Kone, doesn't, I've, that's, seltzer Organizations: Service, East, East Harlem locals, Yankee, Bronx ., Costco, Employees, Starbucks, Walmart Locations: East Harlem, Harlem, Manhattan, Bronx, New Jersey

☆ Net Zero Is Still Possible, but Clean Energy Spending Must Go Faster
▼ + stars: | 2023-09-26 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

At least $4.5 trillion a year in clean-energy investments will be needed by the start of the 2030s to reach net zero by 2050, the IEA said. “We have the tools needed to go much faster,” the report said. It estimates that 80% of the emissions reduction needed by 2030 can come from increasing renewable generation, energy efficiency and electrification, as well as from cutting methane emissions. The new report comes as policies toward green energy globally are at a crossroads, with politicians balancing green ambitions with energy security and a cost-of-living squeeze. “Without efforts to reduce methane emissions from fossil fuel supply, global energy sector CO2 emissions would need to reach net zero by around 2045,” the report said.

Persons: Ajit Solanki, “, Yusuf Khan Organizations: Press, International Energy Agency, IEA, Business Locations: Surendranagar, Gujarat, India, Paris, Ukraine, China

New York CNN —Target is closing nine stores across four states, claiming theft and organized retail crime are creating an unsustainable business environment. “We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,” Target said in a release. The retailer said it had added more security and implemented other anti-theft tools before deciding to close the stores. Affected employees will be able to transfer to other Target locations. Battle against theftTarget’s announcement comes on the same day that the National Retail Federation released new figures on the state of retail theft.

Persons: ” Target Organizations: New, New York CNN, Oakland, National Retail Federation Locations: New York, Harlem, New York City, Seattle, Portland, San Francisco, East Harlem, Manhattan

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