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☆ Goldman Sachs names 3 stocks to gain from Germany's $440 billion clean energy plans
▼ + stars: | 2023-05-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Goldman Sachs named the three global companies it expects to benefit from the German government's plan to spend nearly half a trillion euros on renewable energy infrastructure. The proposed measures include a 2030 target to have 80% renewable energy and cheaper financing for developers of clean energy sources through green bonds. Goldman Sachs has estimated that this German plan will create investment opportunities worth nearly 400 billion euros ($440 billion) in clean energy and power grid infrastructure. RWE Goldman Sachs said RWE , a renewable energy generator, could accelerate the development of clean energy projects and capture a market share equivalent to its current installed base globally. Goldman Sachs added that the U.S.'s IRA and Europe's REPowerEU initiative would also be a tailwind for the company's growth plans.

☆ Analysis: Options investors guard against U.S. stock tumble, despite buoyant markets
▼ + stars: | 2023-05-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermidNEW YORK, May 10 (Reuters) - Options market demand for insurance against a stock market crash has soared to multi-month highs, even as equities have calmed down after a choppy start to the year. U.S. stock market volatility has subsided as the S&P 500 (.SPX) has logged a 7% year-to-date gain. Though stock market gyrations have subsided in recent weeks from levels hit during the regional banks crisis, investors see plenty of catalysts for volatility ahead. Institutional investors' stock exposure has inched higher after slumping in 2022 to a decade low, excluding the COVID-19 market crash of March 2020, Deutsche Bank data showed.

☆ 'Too cheap to ignore': Bernstein predicts huge upside for these 3 clean energy stocks
▼ + stars: | 2023-05-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

But the sour sentiment toward the sector may be short-lived, according to the investment bank. Analysts at Bernstein say there is significant potential for growth in several clean energy companies, thanks to recent policy changes and increased investment. The investment bank added that despite the rising costs of renewable equipment and increasing rates, renewables remain more competitive than fossil fuels. Orsted Bernstein expects shares of Orsted to rise by nearly 60% to 975 Danish Krone ($144) a share. CATL Bernstein said battery-maker Contemporary Amperex Technology Co. Limited, also known as CATL, was its "top pick" in China.

☆ How Biden's $369 billion sell to the climate tech industry is luring Europe's hottest startups to the US
▼ + stars: | 2023-05-10 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

President Biden's $369 billion climate sell is attracting some of Europe's biggest startups. Battery maker Northvolt and carbon removal firm Climeworks are both lining up US expansions. President Biden's $369 billion play to make the US the new hub for climate-friendly companies caused consternation among international allies. Europe's EV battery darling Northvolt is set to announce its highly anticipated US expansion in the coming weeks while carbon removal company Climeworks has already revealed plans to scale up Stateside. The company is also watching Europe's efforts to create a regulatory framework for the certification of carbon dioxide removal (CDR).

☆ I blew a golden opportunity to boost my savings in my 20s—the 7 money skills I wish I'd known by 30
▼ + stars: | 2023-05-10 | by ( Mike Winters | ) www.cnbc.com time to read: +6 min

And since I lived with my parents for almost half of my 20s, my expenses were low, which meant I blew a golden opportunity to boost my retirement savings. Know how interest worksYou can't make long-term financial decisions without knowing how interest affects your money. Your credit score matters because you're less likely to qualify for loans, auto financing and credit cards if you have a low credit score. Additionally, itemized summaries of your credit score, known as credit reports, are produced by the three major U.S. credit bureaus: Equifax, Experian and TransUnion. Overdue payments can result in penalty fees, higher interest rates and a lower credit score by over 100 points, in some cases.

☆ Options investors guard against US stock tumble, despite buoyant markets
▼ + stars: | 2023-05-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

☆ Human genome reboot better reflects global population
▼ + stars: | 2023-05-10 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

The new genome rundown may help clarify the contribution of genetic variation to health and disease, improve genetic testing, and guide drug discovery. "A pangenome is not just one reference genome, but a whole collection of diverse genomes. Researchers in 2003 unveiled what was billed as the complete sequence of the human genome, though about 8% of it had not been fully deciphered. That reference genome was a mosaic drawn from about 20 people, including 70% from one individual of mixed European and African ancestry. The first complete human genome, based on a single European individual, was published last year after scientists filled in the gaps.

☆ Ford to test small UK fleet of hydrogen fuel cell E-Transit vans
▼ + stars: | 2023-05-09 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, May 9 (Reuters) - Ford Motor Co (F.N) said on Tuesday it will test a small fleet of prototype hydrogen fuel-cell versions of its electric E-Transit model to see if they are a workable zero-emission option for customers hauling heavy goods long distances. Ford will lead a consortium in the three-year project that includes BP (BP.L), which will focus on hydrogen and infrastructure, and British online supermarket and technology group Ocado (OCDO.L). Interest in using hydrogen fuel cells to power trucks and vans is getting a boost from fleet operators looking for a more practical alternative to electric vehicles and rising government aid, particularly the U.S. Inflation Reduction Act (IRA). Vehicles with hydrogen fuel cells, in which hydrogen mixes with oxygen to produce water and energy to power a battery, can refuel in minutes and have a much longer range than those with BEVs. But there are major challenges to be overcome for mass adoption of hydrogen fuel cells, including the lack of fueling stations and green hydrogen made using renewable energy to power them.

☆ What Is a W-4 and How Do I Fill Mine Out?
▼ + stars: | 2023-05-09 | by ( ) www.wsj.com time to read: +14 min

How Form W-4 has changedIf you haven’t checked in on your W-4 lately, you’ll want to take a gander, says Pete Isberg, an executive with payroll provider ADP. That’s because Form W-4 was overhauled in 2020 based on changes passed in the Tax Cuts and Jobs Act a few years earlier. At the top of the W-4 form, you enter your personal information and filing status. If you have multiple jobs, you’ll use Step 2(b)—Multiple Jobs Worksheet, which is found on page 3 of Form W-4. So after you file your Form 1040 tax return, your W-4 form updates should be next.

I started my SEP IRA at 30, but I wondered if there were other, nontraditional options for retirement. I asked financial planners how their millionaire clients saved. I'm happy to be saving for retirement now, but I still wonder if I could retire comfortably without saving into a traditional retirement account. To find out, I asked financial experts if any of their millionaire clients had retired without traditional retirement funds. They didn't take on debtIt turns out you can retire as a millionaire without robust traditional retirement funds.

The Biden Administration’s signature drug pricing reform, part of the Inflation Reduction Act (IRA), aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country. The first ever Medicare drug price reduction process begins in September, when the Centers for Medicare and Medicaid Services(CMS) identifies its 10 most costly drugs. Reuters has seen responses to CMS from five of the world's top drugmakers raising legal concerns with the law and the agency's proposed roadmap. Former CMS head Andy Slavitt, who now works at a venture capital company focused on healthcare, said the Medicare agency would have consulted lawyers. One said the Medicare roadmap, which did not go through a formal process with proposed and final rules, could be challenged in court for being unlawful as well.

MUMBAI, May 9 (Reuters) - India's national pension scheme offers "exceedingly good" returns of 9-12%, compared to most benchmarks, a top official at the pension fund regulator said on Tuesday. The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state governments reverting to an earlier pension plan considered fiscally unviable. States that have decided to move back to a so-called old pension scheme include Rajasthan, Jharkhand, Chattisgarh, Himachal Pradesh and Punjab. The old pension scheme offered assured returns to pensioners without any contribution from the employees, which made it fiscally unsustainable for the government. Economists warned that the return to a scheme with assured returns could hurt India's attempts to improve government finances and reduce debt.

Among Gen Z super savers (ages 18-25), 28% have an annual salary of less than $35K, with deferral rates of 15%+. 50% of super savers are 40 years old or younger and 53% make less than $100K annually. In our research, we learned several things from Gen Z super savers. 7 plan design updates to help more Gen Z employees become retirement super saversA few simple updates can help modernize your employer-sponsored retirement plan to prepare for the newest generation of workers. Among Gen Z super savers, 87% say their employer-sponsored retirement plan will be their main source of income in retirement.

I didn't start saving seriously until I turned 30, but now I'm highly motivated to retire wealthy. I'm trying to keep my credit card debt and spending to a minimum so my net worth can keep growing. Not only am I working hard now to save for retirement, but I'm obsessed with figuring out ways to retire early as a multi-millionaire. I also un-linked my credit card from my favorite online stores so I can't take advantage of any quick-buy purchases. This has drastically changed my financial mindset and has allowed me to be more strategic with how I spend cash on a daily and monthly basis.

☆ China poses greatest risk to Europe's carmakers - Allianz Trade study
▼ + stars: | 2023-05-08 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Companies Allianz SE FollowTesla Inc FollowLONDON, May 9 (Reuters) - Chinese-made electric vehicles (EVs) pose the greatest risk to Europe's carmakers and could cost them 7 billion euros ($7.7 billion) a year in lost profits by 2030 unless policymakers take action, according to an Allianz Trade report. Europe's carmakers face a dual threat from the prospect of falling sales of their own vehicles in China, where local EV makers have been growing market share, and from rising sales of imported Chinese EVs - made by Chinese or Western carmakers. A crowded market for all-electric SUVs in China is putting pressure on local carmakers to export more vehicles to Europe. "The stakes are high for Europe's automotive industry: four out of five cars sold in Europe are assembled locally," the report added. The report said the U.S. Inflation Reduction Act (IRA) had made Europe a target for Chinese exports.

[1/9] Investors and guests arrive for the Berkshire Hathaway annual shareholders' meeting in Omaha, Nebraska, U.S. May 6, 2023. Speaking at Berkshire's annual shareholder meeting, Buffett criticized how politicians, regulators and the press have handled the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank, saying their "very poor" messaging has unnecessarily frightened depositors. At the meeting, Berkshire shareholders reelected all directors and rejected shareholder proposals concerning climate change, diversity and political activities. LIGHTED MATCHBuffett said regulators were right to guarantee depositors of Silicon Valley Bank, saying that not doing so "would have been catastrophic." He also said bank shareholders and executives should bear the risks of mismanagement, with Munger criticizing executives concerned more with getting rich than with customers.

Speaking at the annual meeting of his conglomerate Berkshire Hathaway Inc (BRKa.N), criticized how politicians, regulators and the press have handled the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank, saying their "very poor" messaging has unnecessarily frightened depositors. The meeting featured Buffett, 92, who is Berkshire's chairman and chief executive, and Vice Chairman Charlie Munger answering five hours of shareholder questions. LIGHTED MATCHBuffett said regulators were right to guarantee depositors of Silicon Valley Bank, saying that not doing so "would have been catastrophic." Buffett defended the size of Berkshire's $151 billion Apple investment, saying consumers are less likely to shed their $1,500 iPhones than, for example, their $35,000 second cars. Many recognized it could be one of their last chances to see Buffett and Munger, given their ages.

Buffett spoke hours after Berkshire posted a $35.5 billion quarterly profit and said it bought back $4.4 billion of its own stock, a sign it considered the shares undervalued. The meeting features Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, answering five hours of shareholder questions. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages. Yongsheng Zhao, who lives in Shanghai and is a researcher for an asset management firm, said he showed up at midnight to attend his eighth Berkshire meeting. "I am inspired by their passion and normalcy," he said, referring to Buffett and Munger.

OMAHA, Nebraska, May 6 (Reuters) - Warren Buffet on Saturday said he is more comfortable with Berkshire Hathaway Inc (BRKa.N) deploying capital in Japan than Taiwan, reflecting the growing tensions between the United States and China. The billionaire investor contrasted Berkshire's recently increased investments in five Japanese trading houses with its recent U-turn on a multi-billion dollar investment in Taiwan Semiconductor Manufacturing Co, or TSMC (2330.TW). "It's a marvelous company," Buffett said at Berkshire’s annual meeting, referring to Taiwan Semiconductor. But "I would feel better about capital that we've got deployed in Japan than in Taiwan.... That's the reality." Tensions between the U.S. and China have simmered in recent months, with some investors worried that China might invade Taiwan.

OMAHA, Nebraska, May 6 (Reuters) - Warren Buffett on Saturday offered a vote of confidence in the United States, saying he could not imagine the government letting it default on its debt and risk letting the world's financial system "go into turmoil." Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, are answering five hours of shareholder questions at the meeting. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages. Yongsheng Zhao, who lives in Shanghai and is a researcher for an asset management firm, said he showed up at midnight to attend his eighth Berkshire meeting. "I am inspired by their passion and normalcy," he said, referring to Buffett and Munger.

☆ Berkshire director: Buffett CEO heir an ideal fit, but changeover not imminent
▼ + stars: | 2023-05-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

But Olson added that Abel is likely “a good number of years off” from taking over, with Buffett and Munger still on board. Buffett publicly designated him as his likely successor as CEO in 2021, after Munger appeared to let slip the board's thinking at that year's annual meeting. After Buffett departs, Berkshire is expected to name his eldest son Howard as non-executive chairman to preserve its culture, where business units operate essentially without interference from the top. Upon becoming CEO, Abel would likely experience "more formality" in his relationship with directors than Buffett, who took over in 1965, now has. "The bottom line is, not only is Warren satisfied, Charlie is satisfied that Greg ... will carry out that culture," he continued.

☆ Take Five: Sell in May?
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +5 min

The services component of the price data can gauge demand, but consumer and producer price data broadly paint a picture of deflation. April inflation data is out Thursday. At 10.1%, UK inflation is the highest in Western Europe. Reuters Graphics Reuters Graphics4/ SELL IN MAYConventional wisdom has it that May is the ideal point to take profit on equities and lay low until later in the year. "Sell in May and go away" is based on the premise that the best six-month period of the year for stock market returns is November to April, while the leanest is May to October.

Many Americans dream of saving $1 million for retirement. Most fall far short of that. The typical family’s 401(k) and IRA-type accounts come to less than half that goal in the years approaching retirement age.

I want to read all the books on my shelf this year, and I started with "I Will Teach You To Be Rich." I'm going to automate my finances, invest in index funds, and break up with my bank. Related: The best high-interest accounts todayThis means that I'm losing out on making more money because my cash is sitting in a bank account with 0.01% interest versus the 0.5% interest at my new bank. When I read the book, I was able to get a better understanding of the power of index funds over individual stocks. Sethi explains that index funds are collections of stocks that computers manage in an effort to match the index of the market.

☆ Wall St Week Ahead US. consumer price data to test feared stagflation scenario
▼ + stars: | 2023-05-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Some also believe the recent banking sector tumult will hurt lending and further constrain growth, forcing the Fed to cut rates before inflation is tamed. April’s survey of global fund managers from BoFA Global Research showed stagflation expectations near historical highs, with 86% saying it will be part of the macroeconomic backdrop in 2024. Next week’s consumer price data for April, due on Wednesday, May 10, could offer a clearer picture of whether the Fed’s interest rate increases are cooling inflation. Charlie McElligott, managing director of cross-asset macro strategy at Nomura Securities, pointed to the Atlanta Fed's GDPNow estimate, which is projecting a 2.7% growth rate in the second quarter, up from 1.8% on May 1. At the same time, expectations that the Fed is unlikely to raise rates much higher has created a better backdrop for investors, he said.

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