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Note that the last time, the 10-day moving average crossed above the 21-day moving average was back in late October/early November when the markets were just beginning a new bull run. Based on this thesis I want to make a bearish bet on DIA using a trade structure called a bear put spread. The Trade: DIA is a highly liquid ETF and if you look at its option chain, you will notice that it offers $1 wide strikes. DIA YTD mountain SPDR Dow Jones Industrial Average ETF Trust YTD Amazon and Apple report earnings this week. These are all significant market moving events and so a solid risk management plan needs to be in place for any trades taken this week.
Persons: Dow Jones Organizations: Dow, Dow Jones, Trade, DIA, Apple
South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.
Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park
This photograph taken on April 11, 2024, in Paris, shows the logo of the Chinese social network application TikTok Lite displayed in Apple's App Store. Users aged 18 or older can "collect points by discovering new content or completing certain actions," the social network said. The European Union on Monday opened proceedings against ByteDance's TikTok and threatened to suspend its newly launched TikTok Lite rewards program, where users can earn points for liking content or inviting friends to the app. The European Commission, the EU's executive arm, said TikTok had 24 hours to provide a risk assessment report for TikTok Lite or face fines. Children are thought to be at risk given the suspected absence of effective age verification mechanisms on TikTok, the EU said.
Persons: ByteDance's TikTok, TikTok, Margrethe Vestager Organizations: European Union, European Commission, TikTok, CNBC, EU, Digital Services Locations: Paris, France, Spain, EU
Nvidia shares have continued to soar this year, up more than 80%. "We emphasize risk management much more than many growth investors," Shant told CNBC Pro. When should investors sell growth stocks? When asked about the right time to sell a growth company like Nvidia, Shant pointed to the firm's latest research note titled "Buy and Hold Forever?" [As in] they can't actually make enough to meet expectations in that quarter," Shant told CNBC's Squawk Box Friday.
Persons: they've, Raj Shant, Shant, We're, CNBC's, Jennison, Morgan Stanley Organizations: Nvidia, Jennison Associates, CNBC Pro, Global Equity, Novo Nordisk, Norges Bank, Barclays
It is therefore no surprise that the advent of big data, data analytics, and disruptive technologies such as generative AI have brought in sweeping changes and opportunities to reinvent critical business areas. When customers trust a business, it empowers the organization to pioneer groundbreaking initiatives, embracing risk to craft new products and refine existing ones. While the balance between trust and innovation emerges as a critical lever for progress, the role of transparency in cultivating and maintaining this trust cannot be overstated. Earned, not givenAs we recognize transparency's pivotal role in building trust, it becomes clear that trust in the digital age is earned, not given. Safeguarding consumer trust in an era increasingly dominated by sophisticated algorithms and artificial intelligence is more critical than ever.
Persons: Matthew Driver, we've Organizations: Services, Asia, Mastercard, Trust, Harvard, Mastercard Singapore, Insider Studios Locations: Asia Pacific
Analysts expect the S & P 500 to have a year-over-year earnings growth rate of 3.2%, FactSet data shows. If that's the case, it would mark the third consecutive quarter of earnings growth. The reporting period could also be a good time for tactical opportunities in the stock market. The bank also expects these names to see sharp moves after posting earnings, based on what the options market shows. The options market implies a 4.1% move for Nasdaq on after the April 25 report is released.
Persons: Goldman Sachs, John Marshall, Goldman, Lizzie Dove, Per Goldman, Toshiya Hari Organizations: JPMorgan Chase, Citigroup, Royal Caribbean Cruises, Nasdaq, Semiconductor, Broadcom Locations: Wells, China, Asia
The mammoth integration of failed bank Credit Suisse into its former rival UBS will act as a "case study," UBS CEO Sergio Ermotti said Friday, one that will show that big bank mergers should be allowed. "Of course, we can't just rely on a crisis to create or facilitate the merger of banks," Ermotti said. "It's good to have strong players that can be part of the solution, like UBS was in the Credit Suisse case. UBS in June completed its takeover of the 167-year-old bank in a deal controversially brokered by Swiss authorities. The Swiss National Bank has said the size of the new entity flags potential competition issues that will need to be monitored.
Persons: Sergio Ermotti, Ermotti, CNBC's Steve Sedgwick, it's Organizations: Suisse, UBS, Credit, Credit Suisse, Swiss, Swiss National Bank Locations: Europe, Italy, underperformance
Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. As the Dali container ship neared the Francis Scott Key Bridge after losing power and with no ability to navigate, there were no tug boats to guide it. It is unclear if the tugs remained with the Dali, a collision could have been averted. But maritime experts say that new tugboat regulation would be a reasonable response for the government to consider. The next day, the Coast Guard referred CNBC to the Joint Information Center (JIC) for the Key Bridge Casualty 2024 incident in Baltimore.
Persons: Dali, Francis Scott Key Organizations: Maersk, Port, Francis Scott Key Bridge, CNBC, Infrastructure Security Agency, Department of Homeland Security, Department of Transportation, U.S . Coast Guard, Coast Guard, Joint Information Center, U.S . Immigration, Customs, . Customs, Border Patrol Locations: Maersk Atlanta, Newark, Newark , New Jersey, US, Port of Baltimore, Baltimore
BOSTON (AP) — In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior U.S. officials including Commerce Secretary Gina Raimondo. It concluded that “Microsoft's security culture was inadequate and requires an overhaul" given the company's ubiquity and critical role in the global technology ecosystem. Three think tanks and four foreign government entities, including Britain's National Cyber Security Center, were among those compromised, it said. Separately, the board expressed concern about a separate hack disclosed by the Redmond, Washington, company in January — this one of email accounts including those of an undisclosed number of senior Microsoft executives and an undisclosed number of Microsoft customers and attributed to state-backed Russian hackers. The board lamented “a corporate culture that deprioritized both enterprise security investments and rigorous risk management.”The Chinese hack was initially disclosed in July by Microsoft in a blog post and carried out by a group the company calls Storm-0558.
Persons: Biden, Gina Raimondo, , Nicholas Burns, Alejandro Mayorkas, Redmond, Morgan Stanley Organizations: BOSTON, Microsoft, State Department, Microsoft Exchange, U.S, Cyber Security, Homeland, Storm, Google, Yahoo, Adobe, Dow Chemical Locations: China, Washington, Russian
Why Goldman Sachs is helping its clients launch ETFs
  + stars: | 2024-04-01 | by ( Josephine Rozzelle | ) www.cnbc.com   time to read: +3 min
Investor demand for exchange-traded funds is not slowing down, and firms without ETF offerings may risk losing business, according to one Goldman Sachs expert. "Any number of our clients would tell you, the opportunity cost of not [offering ETF products] is greater," he recently told CNBC's "ETF Edge." To help clients through the process of launching their own ETF products, Goldman Sachs created its ETF Accelerator, a digital platform that helps clients launch, list and manage their own ETF products. The idea was it made it easier to launch an ETF, but it didn't make it easy," Sachs said. It can still take years to build the expertise, headcount and risk management framework necessary to launch an ETF, said Sachs.
Persons: Goldman Sachs, Steve Sachs, Sachs, Brandes Organizations: Eagle, Equity, Quality, Brandes Investment Partners, Value, International, Eagle Capital
Bruch is one of the largest individual FTX creditors and has been tapped by the US Department of Justice to serve as one of nine on the FTX Creditors’ Committee, where he is working to recoup the funds lost by customers. DOJ-appointed creditor committees ordinarily consist of people and companies who hold the seven largest unsecured claims against the debtor (in this case, FTX), according to the agency. Before the Bell spoke with Bruch about Sam Bankman-Fried, FTX, MyPrize and the future of crypto. I feel for all of the creditors and am doing everything I can to help recoup what was taken from us. I’ve worked at some of the largest crypto trading desks in the world and then also started trading my own book of capital and grew to become one of the largest individual crypto traders.
Persons: Sam Bankman, Fried, Zach Bruch, Bruch, MyPrize, Bell, Sam Bankman Fried, , , Sam Bankman Fried’s, Bitcoin, I’ve, Elisabeth Buchwald, Jerome Powell wasn’t, ” Powell, Powell, Christopher Waller, Evan Gershkovich, Evan Gershkovich’s, Radina Gigova, Anna Chernova, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich Organizations: CNN Business, Bell, New York CNN, US Department of Justice, , DOJ, Arrington Capital, Department of Justice, Federal, Commerce Department, San Francisco Fed, ” Fed, CNN, Wall Street Locations: New York, Russia, Yekaterinburg
Griffin noted that 2023 was a difficult year for the hedge fund industry and expected the medium-term to "remain challenging." Citadel and Griffin's market maker, Citadel Securities, received over 100,000 applications for full-time jobs and internships this year, Griffin said. "We take pride in having built one of the most formidable teams in hedge fund history," he said. The remarkable achievements of our portfolio managers are a testament to the constructive and empowering culture at Citadel. Assembling the Premier Team in Hedge Fund HistoryWe take pride in having built one of the most formidable teams in hedge fund history.
Persons: Griffin, Kenneth C Organizations: Business, Disney World, Citadel, Citadel Securities, Citadel Wellington LLC, Team, Congressional, U.S, LCH Investments Locations: United States
Emirates president Tim Clark said the only "fix" to Boeing's problems is to let an engineer lead the firm. Experts say Boeing CEO Dave Calhoun, who announced plans to resign on Monday, had a background in finance and business. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEmirates president Tim Clark spoke up about the future of Boeing's leadership on Wednesday, saying the only way to clean up this mess is to put engineers at the helm. "To fix Boeing's issues the company needs a strong engineering lead as its head coupled to a governance model which prioritizes safety and quality," he told CNBC.
Persons: Tim Clark, Dave Calhoun, Dennis Muilenburg, , Clark Organizations: Service, Emirates, CNBC, International Association of Machinists, Boeing, Business
Over the past few years, supply chain woes have repeatedly come into the spotlight. Since then, global integrated supply chain systems just seem to keep getting disrupted — be it by the COVID-19 pandemic or Russia's war in Ukraine. The domino effect is due to the "just in time" model that supply chains have been relying on for decades. Here are three key reasons why supply chains just seem to keep screwing up in recent years. Examining ongoing conflicts in the Black Sea and Red Sea respectively shows how geopolitical conflicts affect global supply chains.
Persons: , they've, Donald Trump, Dali, Francis Scott Key, Project44, Nari Viswanathan, Viswanathan, tailspin, Julie Gerdeman, Trump, Rahul Khanna, Geoff Weiss, Allan Post, Justus Heinrich, Khanna Organizations: Service, Business, Maersk, BI, Shipping, Allianz, Allianz Commercial, Technologies Locations: China, Ukraine, Baltimore, The Port, of Baltimore, Europe, Asia, Iran, Israel, Suez, Good, Africa, Panama, El, Egypt
Reddit shares are plummeting after experiencing a rally stemming from the social media company's IPO last week. Shares closed at $49.32, ending the week below their closing price on Reddit's first day of trading on the New York Stock Exchange. Reddit shares began their downward spiral on Wednesday, when they sank about 11% to $57.75 at market close. Meanwhile, Reddit Chief Operating Officer Jennifer Wong disclosed that she sold 514,000 shares and now holds 1.4 million of the company's shares. The company's shares then rose 8.8% on Tuesday to close at $65.11, even after New Street Research issued a neutral rating on the company.
Persons: Reddit, Steve Huffman, Ben Silverman, Verity, Jennifer Wong, Silverman, It's Organizations: New York Stock Exchange, Stock, Bloomberg News, CNBC, New, Research, New Street Research Locations: New York City
Wall Street firms know the pains of having to satisfy regulators, and with advancements in artificial intelligence, there's a whole new level of scrutiny and complexity. It involves quality-and-assurance teams who test, verify, validate, and challenge the AI models before they go into production and report issues back to the engineering team to fix. In some cases, banks' technology teams are spending at least half their time documenting models for compliance, Jonas Jacobi, cofounder of fintech startup ValidMind, told Business Insider. AI models are often compared to a "black box" because it can be difficult to understand their decision-making or how the models arrive at their results. With the new injection of capital, ValidMind will build more features, like one aimed at automating the risk management of third-party vendor solutions.
Persons: Banks, Jonas Jacobi, Jacobi, ValidMind, Steve Cohen's, Mehdi Esmail, Andres Rodriguez Organizations: Business, Point72 Ventures, American Express, Third Prime Ventures, York Life, Jacobi, Technologists Locations: Palo Alto, Calif, Wall, ValidMind
Boeing needs to be led by engineers if it wants to pull itself out of its current crisis, Tim Clark, the president of Emirates Airline, said in comments Wednesday. "To fix Boeing's issues the company needs a strong engineering lead as its head coupled to a governance model which prioritizes safety and quality," said Clark, who leads Dubai's flag carrier Emirates. Aviation analysts and former Boeing employees have criticized the company's reported sidelining of engineers in its senior management ranks. Boeing CEO Dave Calhoun will also step down at the end of 2024. "Whether, yet again, this changing of the guard will resolve Boeing's issues only time will tell, but time, unfortunately, is not on their side," Clark said.
Persons: Tim Clark, Max, Clark, Stan Deal, shakeup, Stephanie Pope, Dave Calhoun Organizations: Boeing, Emirates Airline, Alaska Airlines, Federal Aviation Administration, Justice Department, FAA, Max, Emirates, Machinists, Aviation, CNBC
Arm Holdings is a UK-based semiconductor and software design company that has been around for quite some time and been through multiple corporate events, changes of ownership and multiple large investors. The majority shareholder of Arm (ARM) is Japanese conglomerate Softbank, which bought the company in 2016 before taking it public again on the Nasdaq in 2023. The stock formed a base into March, held $120-area support and is now mounting another attack after breaking the gray dotted downtrend resistance/trigger level at $135. I do not yet hold the stock, but I am looking to add to our holdings at current levels and will require the stock to remain above that $135 breakout level now serving as support. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: we're, They're, Gordon Organizations: Nasdaq, ARM, Nvidia, Cadence Design Systems, IBM, Intel, AMD, Apple, Facebook, Google, Inside Edge Locations: UK
Overall, actively managed mutual funds and exchange-traded funds fell short of passive funds, with 47% of active strategies surviving and beating their index-following peers, according to Morningstar. However, actively managed funds outperformed in the bond category. About 53% of active bond managers survived and beat the passive average in 2023, up from 30% in 2022, the research firm said in a recent report . Intermediate core bond funds largely invest in investment-grade debt, spanning from government issues to corporates. Core bond funds have also held up in recessions, thanks to their diversification across fixed income and duration.
Persons: Morningstar, Paul Olmsted, Olmsted, Olmstead, It's Organizations: Morningstar, Vanguard, Bond Market, Aggregate Bond, Intermediate Bond Fund
Dollar advances as U.S. inflation data weighs on rates outlook
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: +3 min
The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. Data on Thursday showed the U.S. producer price index for final demand rose 0.6% in February above the 0.3% rise economists had forecast. The dollar index , which measures the U.S. currency against six rivals, was 0.058% higher at 103.44, after rising 0.55% on Thursday. In other currencies, the Australian dollar fell 0.18% to $0.657, while the New Zealand dollar fell 0.39% to $0.611.
Persons: Jerome Powell, Ryan Brandham, Carol Kong, bitcoin Organizations: Federal Reserve, Risk, Traders, Bank of, Commonwealth Bank of Australia, New Zealand Locations: U.S, North America
The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. The large numbers mean Filipinos are disproportionately exposed to the dangers posed by Houthis targeting ships in the Red Sea. Two Filipino crew members remain in Djibouti to receive medical treatment. Most of the Filipino crew members on board returned to Manila on Tuesday, reuniting with their families after their ordeal at sea. It’s very painful for us, especially for the families,” Mark Dagohoy, one of the ship’s crew members, told journalists after their return.
Persons: It’s, “ There’s, , Eduardo de Vega, Israel, Houthis, , Al, ” Houthi, Nasr Al, Din Amer, De Vega, de Vega, They’re, Mohammed Al, it’s, Ray Car, Abraham Ungar, Eloisa Lopez, Houthi, Yahya Sarea, ” Mark Dagohoy, Celine Alkhaldi, Paul P, Murphy Organizations: CNN, Galaxy Leader, Houthi Military Media, Reuters, Philippines, Yemeni, Nippon, Ray, Ray Car Carriers, Ambrey Analytics, Ambrey, Indian Navy, Manila International Airport, , Liberian, Financial Times, Oaktree Locations: Filipino, Gaza, Red, Romanian, Iran, Yemen, Cairo, Philippines, Aden, Saudi, Hodeidah, Suez, Africa, Bab, Mandab, United States, Britain, Djibouti, Manila
But the Biden administration, lawmakers and ports management continue to differ in their views of the true nature of the threat. Kurt Fredrickson, a Coast Guard spokesman, told CNBC via email that even if the software is not Chinese, all software has vulnerabilities, regardless of origin. "Software is everywhere," Gene Seroka, executive director of the LA port, told CNBC in a recent interview at the TPM conference. They warn the crane software concerns are part of a much larger societal risk. He added that regardless of the origin of the crane software and the origin of a crane's manufacturing, there are ways to mitigate cyber risk.
Persons: Biden, Jay Vann, Robert Murray, it's, Kurt Fredrickson, Murray, Carlos Gimenez, Melanie Stambaugh, Greg Ehrie, Doug Vogt, Vogt, Mario Cordero, Noel Hacegaba, Cordero, Gene Seroka, Lucian Niemeyer, Trump, Niemeyer Organizations: CNBC, ABB, Germany's Siemens, Counterterrorism, Law, Intelligence, Homeland Security, U.S . Coast Guard Cyber Command, Biden Administration, People's, Capitol, National Association of Waterfront Employers, Coast Guard, Transportation, Maritime Security, of South Carolina, Northwest Seaport Alliance, USCG, American Association of Port Authorities, New Jersey Port Authority, Siemens, New, Port, Biden, North Carolina Ports, ZPMC, NC, United States Coast Guard, Samsung, U.S . Department of Homeland Security, DHS, U.S . Coast Guard, Security, Defense for Energy, National Security, Management, Maritime Transportation, Joint Force, MTS, Readiness Locations: China, Swiss, People's Republic of China, U.S, of South, China . Port of Long Beach, Tacoma, Seattle, York, New Jersey, New York, Port of New Orleans, of Long Beach, Port of Long, Port of Los Angeles, Port, Oakland, Georgia, Finland, Japan, Taiwan, Europe, Shanghai
CNN —Indonesia’s transport ministry will launch an investigation after two Batik Air pilots fell asleep during a recent flight, according to state news agency Antara, citing the ministry’s civil aviation director-general M Kristi Endah Murni. The flight, BTK6723, lasted two hours and 35 minutes, and successfully landed in Jakarta, according to Antara and the preliminary report. Around 90 minutes into the flight, the second-in-command then “inadvertently fell asleep,” according to the report. Around 28 minutes after the last recorded transmission, the pilot-in-command woke up and realized the plane was not in the correct flight path. The preliminary report detailed that the pilot-in-command told the ACC that the flight had experienced a “radio communication problem” that had been resolved.
Persons: Antara, Kristi Endah Murni, , ” Murni Organizations: CNN, National Transportation Safety, ACC, Air Locations: Kendari, Southeast Sulawesi, Jakarta, , Indonesia
But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.
Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida
Under the disclosure, public companies will have to release their greenhouse gas emissions, environmental risk impacts, and risk management strategies. Climate disclosure will create a standardized way for companies to report environmental impactPreviously, companies only disclosed their climate impact information on a voluntary basis. Bryan McGannon, managing director of the nonprofit sustainable investment forum US SIF, said the climate disclosure is "a really good first step" toward increasing transparency. The SEC might also be facing litigation from corporate America, which hopes to challenge the new climate disclosure in court, McGannon said. Some companies might be concerned about the potentially high costs of gathering data and complying with the disclosure, SEC officials said.
Persons: Gary Gensler, Steven Rothstein, Rothstein, Bryan McGannon, McGannon, Gavin Newsom Organizations: Service, US Securities and Exchange Commission, Business, Economic, SEC, BI, Ceres Accelerator, Sustainable Capital, US, CNBC, Clean Energy, Jobs Locations: America, California, Michigan
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