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☆ The Biden Administration wants to close a retirement savings 'loophole' that could be costing you 20% on your investments
▼ + stars: | 2023-11-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The Biden administration is proposing a new rule to ensure people saving for retirement get the best advice possible. AdvertisementAdvertisementThe Biden administration is continuing its crackdown on junk fees — and this time, retirement savings are in the limelight. A new proposed rule by the Department of Labor would close what the administration calls "loopholes" in retirement advice, potentially saving retirees billions. However, some advisers steer their clients towards what's best for them, not the retirement savers, he said. Currently, the Securities and Exchange Commission has regulations mandating that investment advice needs to be in a saver's best interest.

Persons: Biden, Obama, —, DOL, that's, they're, LIMRA, Jason Berkowitz, Berkowitz Organizations: Service, Department of Labor, Securities and Exchange Commission, SEC, White, Federal Reserve, FTC, The Department, Labor Locations: pushback, Washington

LOS ANGELES (AP) — A series of court challenges are seeking to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill. But already the NAR and several real estate brokerages are facing another lawsuit over agent commission rules. As home prices have soared in recent years, pushing the national median sales price to $394,300 as of September, so have agents’ commissions. Traditionally, that works out to a 5% to 6% commission split roughly evenly between the buyer’s and seller’s agents. “The real solution is for buyers to be able to finance the buyer-agent commissions as part of their mortgages.

Persons: “, ” Mantill Williams, Williams, Fresh, ’, ” Williams, ”, Stephen Brobeck, Max, Brobeck, Michelle Chapman Organizations: ANGELES, National Association of Realtors, NAR, Western, of, Redfin Corp, Weichert Realtors, Compass Inc, “, Consumer Federation of America, Inc, MLS, Associated Locations: Missouri, U.S, of Missouri, New York

☆ A new 'wake-up call for real-estate agents' could reshape how we buy and sell homes
▼ + stars: | 2023-11-01 | by ( Hana R. Alberts | ) www.businessinsider.com time to read: +4 min

A jury found Tuesday that real-estate agents and brokerages kept their commissions artifically high. The verdict, she added, is "a wake-up call for real-estate agents." The seller might no longer pay out both agents' commissions after the sale closes. Currently, home sellers often list their properties for higher sums because they expect to pay broker fees. AdvertisementAdvertisement"NAR and corporate real-estate companies have had a stranglehold on real-estate commissions for too long," the plaintiffs' lawyer, Michael Ketchmark, said outside the courtroom Tuesday, according to the Journal.

Persons: brokerages, —, Sissy Lappin, James Rodriguez, Rodriguez, Bernstein, Keller Williams, Michael Ketchmark Organizations: Service, National Association of Realtors, NAR, Wall Street, Keller, Keller Williams Realty Locations: Houston , Texas, Midwest

☆ Biden administration wants to kill ‘junk’ fees in retirement investments and advice
▼ + stars: | 2023-10-31 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

The DOL’s proposed rule seeks to ensure “all retirement investors receive the same quality of investment advice regardless of product or services,” said DOL Acting Secretary Julie Su in a call with reporters. Across all retirement products, “requiring advisers to make recommendations in the savers’ best interest can increase retirement savers’ returns by between 0.2% and 1.20% per year. Industry pushback expectedThe new proposed rule follows earlier attempts by the Labor Department to broaden and standardize the circumstances in which financial advisers must act in retirement savers’ best interests. It is not clear yet whether the changes called for in the latest proposed rule will be sufficient to quell the opposition earlier versions faced. But industry pushback is expected, including from the Insured Retirement Institute, a trade association for the insured retirement industry.

Persons: Biden, “, ”, Julie Su, —, ’, DOL Organizations: New, New York CNN, Department of Labor, Securities and Exchange Commission, White, Industry, Labor Department, IRI, CNN, — Locations: New York, DOL

“My opponent is backed by special interests who are spending millions of dollars on lies about me,” she says in a new TV ad. As the campaign finance reports have rolled in to the state, McCaffery’s side has gained a slight spending edge. During the five-week period ending Oct. 23, McCaffery's campaign reported spending $2.3 million. Another group that is largely funded by Illinois billionaire Richard Uihlein reported spending $735,000 on a TV ad attacking McCaffery. One umbrella group, Pennsylvanians for Judicial Fairness, has reported spending more than $4 million while the American Civil Liberties Union reported spending more than $1 million.

Persons: Dan McCaffery, Carolyn Carluccio, Roe, Wade, we’ve, ” McCaffery, McCaffery, Carluccio, “, ”, Jeffrey Yass, Richard Uihlein, Marc Levy Organizations: Democratic, U.S, Supreme, Pennsylvania, Federation, Life Coalition of Pennsylvania, Commonwealth, Fund, Illinois, Fair Courts America, GOP, Court, Pennsylvania Chamber, Business, Industry, American Civil Liberties Union Locations: HARRISBURG, Pa, Pennsylvania, Montgomery, Philadelphia, Yass, Wisconsin's

☆ Major US airlines are on the warpath with Congress over a bill they say would gut flyer miles
▼ + stars: | 2023-10-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

They say it will cut revenues of major payment networks, making them pull out of rewards programs. AdvertisementAdvertisementUS airlines are attacking a new bill in Congress that seeks to lower credit card swipe fees, saying it would effectively end most flyer miles programs. AdvertisementAdvertisementIn a statement to Insider, Southwest Airlines said the bill is a "bad policy" that would "undermine, if not completely end, credit card rewards programs." Notably, losing credit card rewards programs could create troubles for airlines that go beyond irate customers missing their free miles. "Their banks and airlines still offer points and miles programs," Durbin told Insider in a statement.

Persons: Sen, Dick Durbin of, Durbin, Ed Bastian, Bloomberg, Scott Kirby, they're, it's, Lance Gooden Organizations: Visa, Mastercard, Morning, Dick Durbin of Illinois, Air, Airlines for, Southwest Airlines, American Airlines, United, European Union, GOP, Democratic, Republican Locations: Airlines for America, European, Texas

DES MOINES, Iowa (AP) — Livestock and poultry producers will need to comply with more specific standards if they want to label their products organic under final rules announced Wednesday by the U.S. Department of Agriculture. The USDA's new Organic Livestock and Poultry Standards are being implemented after years of discussions with organics groups, farming organizations and livestock and poultry producers. Under the rules, organic poultry must have year-round access to the outdoors. Organic livestock also must have year-round outdoor access and be able to move and stretch at all times. The USDA's National Organic Program will oversee the new rules, working with certifiers accredited by the agency.

Persons: Tom Vilsack, ”, Tom Chapman, John Brunnquell, ” Brunnquell Organizations: DES, —, U.S . Department of Agriculture, Livestock, Organic Trade Association, Producers, Program, American Farm Bureau Locations: DES MOINES, Iowa, Indiana

☆ Australian wine producers cannot expect full restoration of China demand, trade association says
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralian wine producers cannot expect full restoration of China demand, trade association saysChina tariffs have slashed value of Australia wine exports to China by about 98%, says Lee McLean, chief executive of Australian Grape & Wine.

Persons: Lee McLean Organizations: Australian Locations: China

Oct 20 (Reuters) - New car sales in the European Union rose 9.2% in September, helped by a jump in sales of electric and hybrid vehicles, which together accounted for more than half of car sales last month, industry data showed on Friday. Together, fully-electric cars, plug-in hybrids and full hybrids accounted for just over 50% of sales, the data showed. As recently as 2015, diesel vehicles comprised more than 50% of new car sales in the EU. Car sales in Europe have been steadily recovering from pandemic-related supply chain problems, most notably a global shortage of semiconductor chips. Despite 14 straight months of growth, car sales for the first nine months of 2023 remain 20% below the same period in 2019 before the pandemic.

Persons: Miranda Murray, Matthias Williams, Susan Fenton Organizations: Union, European Automobile Manufacturers Association, Diesel, Volkswagen, Renault, European Free Trade Association, Thomson Locations: Europe, EU, Britain

Homeland Security, as well as companies that help identify counterfeit products such as Israel’s BrandShield. Fake weight-loss drugs will be a key focus in the agency’s annual counterfeit medicines report, due next year, the official said. “We have counterfeit products and stolen products,” the official said. "We will look online and if we find something that infringes (obesity drug trademarks) we'll get it taken down,” said Yoav Keren, BrandShield CEO. When a consumer buys those fakes, “what you get are expired drugs, counterfeit drugs, or nothing,” he added.

Persons: George Frey, Eli Lilly, BrandShield, Novo’s Ozempic, ”, Jim Mancuso, Mancuso, Europol, Novo, Lilly, “, Ozempic, Yoav Keren, MHRA, Eli, Mounjaro, Patrick Wingrove, Aurora Ellis Organizations: Novo Nordisk, Pharmacy, REUTERS, Novo Nordisk’s, Pharmaceutical Security Institute, drugmakers Novo Nordisk, Europol, Interpol, U.S . Homeland Security, U.S . Food, Drug Administration, U.S . Department of Homeland, Coordination Center, PSI, Medicines, Healthcare, Agency, Health Organization, Ireland’s, Products Regulatory Authority, Reuters, Thomson Locations: Provo , Utah, U.S, America, Europe, Germany, Egypt, Russia, North America

DETROIT (AP) — The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. “Here's to hoping talks at Stellantis today are more productive than Ford yesterday,” Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The company, however, called the strike expansion “grossly irresponsible” and said it has made strong wage and benefit offers to the union. The Kentucky strike brings to 33,700 the number of workers on strike against the three automakers.

Persons: Shawn Fain, “ Here's, ” Fain, Fain, Ford hasn’t, “, ”, “ We've, they're, Marick, Masters, doesn’t, Sam Fiorani, Fiorani, Patrick Anderson Organizations: DETROIT, United Auto Workers, Detroit's, Stellantis, Ford, Lincoln, General Motors, UAW, Kentucky, Wayne State University, GM, Detroit automakers, AutoForecast Solutions, Anderson Economic, Suppliers Locations: Ford’s Kentucky, Louisville, Stellantis, Dearborn , Michigan, Kentucky, Michigan , Ohio , Illinois , Kansas , Indiana, New York, Lansing , Michigan

☆ Securities traders are gathering in Washington, trying to figure out what the SEC is doing
▼ + stars: | 2023-10-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. The big topic: trying to figure out what the Securities and Exchange Commission is doing. These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. Gallagher will also likely weigh in on payment for order flow as well. "I'm doing everything backwards, I'm leaving a trade group and going into politics, but sometimes you gotta step up."

Persons: There's, Gary Gensler, Gensler, Schwab, ETrade, Hester Peirce, Jonathan Kellner, Peirce, Hope Jarkowski, Rostin Behnam, Dan Gallagher, Matt Andresen, Gallagher, Jim, George Santos, Santos Organizations: U.S . Securities, Exchange, SEC, Securities, Securities and Exchange, Security Traders Association, Security Traders Association of New, Marriott Marquis, Intelligence, Citadel, Republican, MEMX, Democratic, NYSE, CFTC, Corporate, Headlands Technology, Congress Locations: Washington, Security Traders Association of New York, U.S, Long

A Republican candidate, state Rep. Richard Nelson, withdrew from the race in September and endorsed Landry but will remain on the ballot per state election laws. Here’s a look at what to expect on election night:ELECTION DAYThe Louisiana state primary will be held Saturday. Neither Clinton nor Biden performed particularly well in Louisiana in the presidential elections: In 2016, Clinton won 38% of the statewide vote; in 2020, Biden won 40% of the statewide vote. In the 2019 Louisiana primary, 33 of the 164 races tabulated by the AP advanced to a runoff. These included the races for governor, secretary of state, five state Senate races and 24 state House races.

Persons: John Bel Edwards, Edwards, Sen, Sharon Hewitt, Jeff Landry, John Schroder, Stephen Waguespack, Richard Nelson, Landry, Shawn Wilson, Lake, Hunter Lundy, Donald Trump, Schroder, Trump, Hillary Clinton, Joe Biden, Clinton, Biden, outperforming, it’s Organizations: WASHINGTON, Gov, Republican, Democratic, GOP, Press, WHO, AP, Senate Locations: Louisiana, Lake Charles, New Orleans, Caddo, East Carroll, Madison, Tensas, Baton Rouge and New Orleans

They note that the job cuts have occurred mainly at factories that make parts for assembly plants that were closed by strikes. In one case, layoffs have been imposed at a factory that uses supplies from a parts factory on strike. The factories that have been affected by layoffs are in six states: Michigan, Ohio, Illinois, Kansas, Indiana and New York. UAW President Shawn Fain countered in a statement that the automakers were using layoffs to pressure the union into settling the strike. Once metal stamping factories that supply multiple assembly plants have produced enough parts for non-striking facilities, the companies would likely shut them down.

Persons: —, Sam Fiorani, Fiorani, ”, “, Bryce Currie, Shawn Fain, Fain, ” Fain, Ford, Stellantis, you've, Patrick Anderson Organizations: DETROIT, United Auto Workers, UAW, AutoForecast Solutions, Ford, General Motors, GM, Chevrolet Malibu, Sterling, ”, Anderson Economic, Suppliers Locations: Michigan , Ohio , Illinois , Kansas , Indiana, New York, Americas, Kansas City , Kansas, Wentzville , Missouri, Lockport , New York, Toledo , Ohio, Marion , Indiana, Parma , Ohio, Lansing , Michigan, Wayne , Michigan, Chicago, Sterling Heights, Livonia , Michigan, Cleveland, Lima , Ohio, Trenton , Michigan, Kokomo , Indiana, Toledo

☆ Mexican liquors and beers are on the rise in the U.S. — here’s what’s driving the torrid growth
▼ + stars: | 2023-10-08 | by ( Stefan Sykes | ) www.cnbc.com time to read: +7 min

"Tequila has been such a national treasure here in Mexico," said Guilherme Espagnoli Martins, global brand director of Diageo-owned Don Julio Tequila. The Mexican beer boomIt's not just tequila and mezcal — Mexican beer is booming, too. Mexican beer imports into the U.S. are up 10.6% in 2023, according to alcohol research firm Bump Williams Consulting. watch nowA spokesperson for Constellation told CNBC that Mexican beer sales grew as Hispanic culture gained a stronger foothold around the world. Constellation on Thursday reported quarterly results that topped Wall Street estimates, driven by the surge in demand for its Mexican beer brands.

Persons: Mario Tama, Lea, Tequila, Guilherme Espagnoli Martins, Don Julio Tequila, Don Julio, George Clooney, Martins, Don, Don Julio Tequila Blanco, Bump, Bud Light, Cowen, Vivien Azer, InBev's Bud, Constellation's, Azer, Jonnie Cahill, Tecate, Cahill, Heineken's, It's, Dos Equis, Eduardo, Lalo, González, LALO Blanco Tequila, Don Julio González Organizations: Modelo Especial, Getty, U.S, Experts, Diageo, CNBC, Bump Williams Consulting, Mexico's Modelo Especial, Constellation, Modelo, Constellation Brands, Anheuser, Busch InBev, InBev's, Heineken USA, Cinco de Mayo, Dos, Corona Locations: Los Angeles , California, U.S, Mexico, The U.S, United States, British, Mexican, Modelo, Dos

ATLANTA (AP) — A political group linked to Georgia Gov. Kemp announced his plan to back lawsuit limits in August at a meeting of the Georgia Chamber of Commerce. Kemp also argues lawsuit limits could help lower costs for inflation-pinched households, in part by lowering Georgia's high auto insurance rates. Most of that came from a $3.75 million transfer from Kemp's gubernatorial campaign, but a number of large companies and trade associations, including some backing lawsuit limits, made $25,000 contributions. Kemp also is using the money to bolster some Republican state lawmakers in the upcoming 2024 elections, while seeking to defeat some Democrats.

Persons: Brian Kemp, Kemp, ” Cody Hall, Burt Jones, Jon Burns, Donald Trump Organizations: ATLANTA, Georgia Gov, Georgia Chamber of Commerce, Georgia General Assembly, Gov, Leadership Committee, gubernatorial, Republican Party, Senate Locations: Georgia, Georgians

☆ 5 critical steps entrepreneurs can't afford to skip when starting a business
▼ + stars: | 2023-09-28 | by ( Sponsor Post | Created Spectrum Business With Insider Studios | ) www.businessinsider.com time to read: +10 min

Social media is a great tool for promotion, but it's also handy for collecting insights about what customers want. Build a social media presence for the new business and use it as a way to gather feedback. Social media is a great tool for promotion, but it's also handy for collecting insights about what customers want. Build a social media presence for the new business and use it as a way to gather feedback. Attract the first customers to your business with smart, small-business marketing strategiesAttracting and retaining the right customers is critical to small business success.

Persons: it's Organizations: Products, Management, Spectrum Business, SCORE, Service Corps, Insider Studios

☆ Government shutdown doesn't halt, but hinders Pentagon work
▼ + stars: | 2023-09-28 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

Troop pay is delayed during a government shutdown, but Singh said housing and bills are not. For example, Ukrainian "F-16 pilot training would continue," said Chris Sherwood a Pentagon spokesman. However, some "delivery of defense articles, services, and/or military education" could be paused, Sherwood said. "Under a shutdown, the government stops payments on invoices not yet paid for costs incurred before the shutdown," the letter said. NDIA and PSC represent companies like Lockheed Martin Corp (LMT.N), L3Harris Technologies Inc (LHX.N), Bank Of America Corp (BAC.N) and Oracle Corp (ORCL.N).

Persons: Carlos Barria, Sabrina Singh, Singh, Chris Sherwood, Sherwood, David Norquist, David Berteau, Mike Stone, Alistair Bell Organizations: Pentagon, REUTERS, Rights, Department of Defense, Democratic, U.S, Senate, National Defense Industrial Association, Professional Services Council, Congressional, NDIA, PSC, Lockheed Martin Corp, L3Harris Technologies, Of America Corp, Oracle Corp, Thomson Locations: Arlington , Virginia, U.S, Ukraine, Washington

Bank of America Chairman and CEO Brian Moynihan testifies before a Senate Banking, Housing, and Urban Affairs hearing on "Annual Oversight of the Nation's Largest Banks", on Capitol Hill in Washington, U.S., September 22, 2022. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsNEW YORK, Sept 27 (Reuters) - The Federal Reserve has won the near-term battle against inflation, but interest rates are likely to stay higher for longer, Bank of America's (BAC.N) CEO Brian Moynihan said on Wednesday. "They're winning the fight right now" against inflation, Moynihan said. "The controversy is like I've never seen," said Moynihan, who was headed to Washington after giving his remarks in New York. Reporting by Lananh Nguyen and Saeed Azhar, Editing by Franklin Paul and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Brian Moynihan, Evelyn Hockstein, Moynihan, They're, they've, I've, ", Lananh Nguyen, Saeed Azhar, Franklin Paul, Andrea Ricci Organizations: of America, Banking, Housing, Urban Affairs, Capitol, REUTERS, Federal Reserve, Bank of America's, Economic, of New, Industry, Arm Holdings, Thomson Locations: Washington , U.S, of New York, Washington, New York

☆ Gensler is testifying before Congress and facing increasing lawsuits over his many rule changes
▼ + stars: | 2023-09-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

Securities and Exchange Commission Chair Gary Gensler is testifying before the House Financial Services Committee today. Republicans are increasingly apoplectic about the more than 40 rules Gensler has been proposing, especially now that he has begun adopting them. Gensler grilled for proposed and adopted rulesRepublicans will be particularly keen to talk about some of the bigger issues Gensler has been tackling. Some are hoping that a few Democrats will join the Republicans and ask Gensler to slow down. Now that he has begun adopting many of these rules, the financial services industry seems to be saying, "See you in court."

Persons: Gary Gensler, Gensler, That's, Biden, Kirsten Wegner, Wegner, Virtu, Doug Cifu, Cifu, What's Organizations: U.S . Treasury, Washington , D.C, Securities, Exchange, Financial Services, Senate Banking, Republicans, Gensler, Commission, Modern Markets, Trader's Magazine, SEC, Virtu Locations: Washington ,

Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. Target, which has nearly 2,000 stores in the U.S., has been outspoken about organized retail crime at its stores. When the company reported fiscal second-quarter earnings in mid-May, CEO Brian Cornell said organized retail crime had shot up at its stores. When asked if the company plans to close stores because of rising shrink, Cornell stressed Target's reluctance to shutter locations. Since 2022, at least nine states — six so far this year — have passed similar laws to impose harsher penalties for organized retail crime offenses.

Persons: Brian Cornell, Cornell, We'll, we'll Organizations: Coordination, CNBC Locations: New York, Harlem, Seattle, San Francisco, Oakland, Portland , Oregon, U.S

☆ SAG-AFTRA strike: All eyes on actors union following tentative deal between studios and writers
▼ + stars: | 2023-09-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

The tentative WGA deal increases pressure on SAG-AFTRA to reach an agreement along the same lines, although the actors union still has enough leverage to keep productions shut down. The studio’s resolution with WGA will likely pave the way for a deal with SAG-AFTRA within the next few weeks. The writers guild was going to fight the big fight, and the actors will use the gains writers made and customize them for their needs.”SAG-AFTRA has been on strike since July 14, joining the fray a little more than two months after the writers strike began. A major issue for the actors union is a wage increase of 11% in the first year of the proposed contract term, while the studios have only agreed to a 5% pay raise. According to Nunan, talks with the WGA will likely make studios more amenable to collaborative talks with SAG-AFTRA.

Persons: ”, Tom Nunan, AFTRA, Nunan, “, we’ve, ‘, ’ ”, “ It’s, It’s Organizations: CNN, Writers Guild of America, Alliance, Television Producers, Hollywood, SAG, WGA

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

☆ Corporations say they have a new No. 1 risk, and they're spending big to defeat it
▼ + stars: | 2023-09-22 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +10 min

The Q3 survey of corporate finance chiefs finds a sharp rise in CFOs pointing to government regulation as the biggest risk factor for their business. From Q1 to Q3 2023, the percentage of CFOs saying government regulation is their biggest risk jumped from roughly 6% to 40%. This quarter, only 10% of CFOs cited inflation, while the 40% who pointed to regulation represented a more than doubling quarter over quarter. watch nowFor the business community's biggest advocacy group, getting back to normal also means confronting a new normal. "The emergence of government policy as risk relative to other risks has been growing substantially over the past decade."

Persons: Mark Wilson, Trump, Sanjay Patnaik, Neil Bradley, Patnaik, Obama, Biden, Bradley, it's, Dan Clifton, we've, It's, UnitedHealth —, Cisco's, Clifton, Lina Khan, She's Organizations: U.S, Capitol, Getty, CNBC, CNBC Global, Federal Trade Commission, Google, Microsoft, Amazon, U.S . Chamber of Commerce, Brookings Institute, Corporate, industrials, Corporations, ., Apple, market's, Union, EU, Horizon Therapeutics, Activision Locations: WASHINGTON, DC, Washington ,, Covid, Russia, Ukraine, China, U.S

☆ Britain set to roll back climate pledges, enraging campaigners and auto groups
▼ + stars: | 2023-09-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

U.K. Prime Minister Rishi Sunak speaks to the media during his visit to Shell St Fergus Gas Plant in Peterhead on July 31, 2023 in Aberdeenshire, Scotland. LONDON — U.K.-based industry bodies and automakers on Wednesday criticized British Prime Minister Rishi Sunak, amid reports that he is preparing to dilute several key net-zero climate pledges. A press representative for the prime minister's office declined to comment on the BBC report. However, interior minister Suella Braverman on Wednesday insisted in broadcast comments that the prime minister's approach to green policies was "pragmatic." On the long term, weakening the UK climate policies "could hurt economic growth by undermining domestic and overseas investment in a range of sectors that are developing and deploying clean technologies, such as heat pumps and electric vehicles.

Persons: Rishi Sunak, Sunak, Lisa Brankin, Brankin, Mike Hawes, Chris Skidmore, Suella Braverman, Bob Ward, Chris Hewett Organizations: Shell St Fergus Gas Plant, LONDON, British, BBC, Ford, Society of Motor Manufacturers, Traders, Ministers, Conservative Party, Labour, Grantham Research, Solar Energy Locations: Shell, Peterhead, Aberdeenshire, Scotland, Britain, Grantham, U.S, China, EU, India

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