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☆ The Markets Are Counting on the Fed to Solve a Tricky Puzzle
▼ + stars: | 2023-07-21 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +2 min

The remarkable thing is that, at the same time, the labor market remains strong. For a while, the Fed said high inflation was “transitory” and would ebb on its own. But by the end of 2021, the Fed had deemed inflation unacceptably high, and it began signaling that it would not continue its expansive monetary policy indefinitely. In January 2022, the Fed made its intention to tighten absolutely clear, and the markets plummeted. How much, exactly, will be a subject for academic papers, dissertations and books in the years ahead.

Persons: —, it’s Organizations: Fed Locations: Ukraine

[1/2] U.S. Special Presidential Envoy for Climate John Kerry shakes hands with his Chinese counterpart Xie Zhenhua before a meeting in Beijing, China July 17, 2023. REUTERS/Valerie Volcovici/File PhotoBEIJING/SINGAPORE, July 20 (Reuters) - Climate talks this week between China and the United States were buoyed by goodwill, but the world's two biggest carbon polluters achieved more on righting their diplomatic relationship than battling climate change. Kerry said China agreed that a target to keep global temperatures rises within 1.5 Celsius of pre-industrial levels should remain "alive". Kerry and Xie focussed on progress headed toward COP28, the annual U.N. climate summit in November. Questions remain about the longer term, should political winds shift in the United States or the two diplomats leave their posts.

Persons: John Kerry, Xie Zhenhua, Valerie Volcovici, Kerry, Nancy Pelosi, Antony Blinken, Janet Yellen, Li Shuo, Li, Xie, Ma Jun, Ma, Premier Li Qiang, Wang Yi, David Stanway, William Mallard Organizations: REUTERS, Democratic, GOOD AS IT, China, Greenpeace, Institute of Environment, Public Affairs, Communist Party, Daily, Thomson Locations: Beijing, China, BEIJING, SINGAPORE, United States, Washington, U.S, Taiwan, Kerry, Paris, COP28, America, Premier, Dubai

☆ Sustainable Aviation Fuel Leader Talks Green Premiums and Impact of Tax Incentives
▼ + stars: | 2023-07-19 | by ( Dieter Holger | ) www.wsj.com time to read: +11 min

Many airlines, corporate fliers and governments see so-called sustainable aviation fuel, or SAF, as a way to reduce aviation’s contribution to global warming. It recently converted an oil refinery in California and is expanding its refineries in Singapore and Rotterdam. We worked on a former fossil-fuel refinery and converted that into a renewable refinery. The carbon footprint of aviation can be affected today from today’s SAF technology. It will continue to incentivize current SAF production, but it will be difficult to be the impetus for future production.

Persons: P, Chris Cooper, We’ve, we’ve, Neste, Dieter Holger Organizations: Aviation, International Energy Agency, International Council, Clean Transportation, SAF, Sustainable, Neste’s U.S, Airlines, International Air Transport Association, Neste, Bloomberg New Energy Finance Summit, Dallas Fort Worth International Airport, DHL, Amazon, Marathon Petroleum, Sustainable Business, today’s SAF, Air, dieter.holger Locations: California, Singapore, Rotterdam, U.S, Neste U.S, San Francisco, Dallas, City, Oakland, Air Canada, Alaska, American, Delta, Los Angeles, San Jose, Washington, York, New York, New Jersey, . Oregon

☆ Carbon data and credit rating startup Sylvera just raised $57 million as it heads to the US. Check out the 12-slide pitch deck it used to raise the fresh funds.
▼ + stars: | 2023-07-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Climate tech startup Sylvera has just raised $57 million for its carbon data platform. Sylvera, a startup helping businesses invest in high quality carbon credits, has just raised a $57 million Series B round led by Europe's Balderton Capital. The London-based startup, founded in 2020, provides carbon data and carbon credit ratings in an effort to bring integrity to a market plagued with quality issues. One carbon credit represents 1 metric ton of carbon dioxide or equivalent that has been removed from or prevented from entering the atmosphere. As well as decarbonization, many companies look to compensate for their hard-to-abate or historic emissions, which is where carbon credits come in.

Persons: Sylvera, Furey, it's, Serge Kruppa, 9yards Organizations: Balderton Capital, Fidelity Strategic Ventures, Bain & Company, Europe's, McKinsey, Paris, Index Ventures, Insight Partners Locations: London, New York

☆ Russia axes landmark Ukraine grain deal just hours before deadline
▼ + stars: | 2023-07-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

First inked in July 2022, the U.N.-brokered Black Sea Grain Initiative has been repeatedly elongated in short increments, amid increasing discontent from Russia over perceived restrictions that limit the full dispatch of its own grain and fertilizer exports. The Black Sea grain initiative was set up to abate a global food crisis, after Moscow launched a full-scale invasion of fellow key grain exporter and neighbor Ukraine. "The Black Sea agreements ceased to be valid today. Unfortunately, the part relating to Russia in this Black Sea agreement has not been implemented so far. "I strongly condemn Russia's cynical move to terminate the Black Sea Grain Initiative, despite UN & Türkiye's efforts," European Commission President Ursula van der Leyen said on Twitter on Monday.

Persons: Vladimir Putin, Cyril Ramaphosa, Dmitry Peskov, Maria Zakharova, Peskov, Ursula van der Leyen Organizations: Initiative, South, Russian Federation, Google, Foreign Ministry, Russian Ministry of Foreign Affairs, Facebook, European, UN, Twitter Locations: Odessa, Ukraine, Russia, Russian, Moscow, Istanbul, Ankara, Kyiv

☆ Dollar General has paid a fraction of the $21 million it owes in fines for hazardous working conditions
▼ + stars: | 2023-07-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Dollar General has paid less than one-fifth of the $21 million in fines it owes OSHA. OSHA has also cited Dollar General for other kinds of incidents. Neither OSHA nor Dollar General immediately responded to Insider's requests for comment. Dollar General is one of the fastest-growing retailers in the US and is about to open its 20,000th store. Do you work or shop at Dollar General and have a story idea to share?

Persons: hadn't, Lee Marchessault, That's, Alex Bitter Organizations: OSHA, Service, Occupational Safety, Health Administration, Dollar Locations: Wall, Silicon, Florida, Minot , North Dakota, North Dakota

☆ Andrew Bailey’s silence is hurting UK homeowners
▼ + stars: | 2023-07-12 | by ( Francesco Guerrera | ) www.reuters.com time to read: +3 min

LONDON, July 12 (Reuters Breakingviews) - The Bank of England’s silence has left traders in a tizzy. Market interest rates have spiked due to soaring inflation expectations, pushing up mortgage costs. That looks like an over-reaction but unless Governor Andrew Bailey says so, homeowners will pay the price. Now, traders believe rates will be at around 6.2% in a year’s time and stay above 5.8% for a further two years. That spike sent the average two-year fixed mortgage rate to 6.66% on Tuesday, the highest level since August 2008, according to Moneyfacts.

Persons: Andrew Bailey, BoE, abate, Bailey, Liz Truss, Neil Unmack, Pranav Kiran Organizations: Reuters, Bank, Finance, Bank of England, Thomson

☆ Canadian pension fund taps Europe's green hydrogen hopes with Dutch investment
▼ + stars: | 2023-07-11 | by ( Tommy Wilkes | ) www.reuters.com time to read: +3 min

LONDON, July 11 (Reuters) - Canada's biggest pension fund, CPP Investments, has made its first bet on green hydrogen playing a growing role in cutting emissions, with a 130 million euro ($143 million) investment and the purchase of a majority stake in a three-year-old Dutch firm. "Europe is generally seen as the leading industrial market or consumer for these green molecules. Power2X's current projects include a green hydrogen and ammonia development in Portugal and a solar power and green hydrogen project in Spain. Expanding green hydrogen production will require more renewable power generation, and some questions remain over its potential use cases versus other low-emission technologies. Last month Canada's Investment Management Corporation of Ontario announced a $400 million investment in Sweden's battery producer Northvolt.

Persons: Bruce Hogg, CPPI, Hogg, Occo Roelofsen, Tommy Reggiori Wilkes, Conor Humphries Organizations: Investments, Reuters, Investor, McKinsey, Investment Management Corporation of Ontario, Thomson Locations: Amsterdam, Europe, Portugal, Spain, Power2X

☆ Global PC shipments decline eases in Q2, Apple outperforms on MacBook Air demand, research firm says
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

July 11 (Reuters) - The decline in global personal computer shipments slowed in the second quarter, with Apple outperforming the market with a 51% jump thanks to strong demand for its recently launched 15-inch MacBook Air, data from research firm Canalys showed. Reuters GraphicsMarket leader Lenovo (0992.HK) posted a shipment decline of 18.1%, smaller than the 30.3% fall posted in the previous quarter. HP Inc (HPQ.N) and Dell (DELL.N) also saw smaller falls, compared with the prior quarter. "Inventory levels reduced further in Q2," said Kieren Jessop, research analyst at Canalys. Still, Canalys said it expects 2023 shipments to be lower than 2022 as consumers prioritize spending on essentials in the face of high inflation and rising interest rates.

Persons: Canalys, Ishan Dutt, Kieren Jessop, Samrhitha, Pooja Desai Organizations: Apple, Air, Reuters Graphics, Lenovo, HK, HP Inc, Dell, Thomson Locations: Bengaluru

Plug Power could become one of the largest green hydrogen suppliers globally, according to Citi. This makes PLUG well positioned to benefit from growing demand for green H2 in hard to abate sectors," Bagri wrote in a Wednesday note. Bagri said Plug Power is on track to achieve positive gross margins this year and aims to top 30% in gross margins by 2026. "We believe a favorable guidance on additionality/time matching, progress towards gross margin improvement and financial support from the DOE could all be positive catalysts," he continued. PLUG YTD mountain PLUG in 2023 —CNBC's Michael Bloom contributed to this report.

Persons: Vikram Bagri, Bagri, —, Michael Bloom Organizations: Citi, Amazon, Walmart, Home Depot, GM, Department of Energy, DOE

☆ Fed sees more rate hikes ahead, but at a slower pace, meeting minutes show
▼ + stars: | 2023-07-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Almost all Federal Reserve officials at their June meeting indicated further tightening is likely, if at a slower pace than the rapid-fire rate increases that had characterized monetary policy since early 2022, according to minutes released Wednesday. Policymakers decided against a rate rise amid concerns over economic growth, even though most members think further hikes are on the way. Citing the lagged impact of policy and other concerns, they saw room to skip the June meeting after enacting 10 straight rate increases. Most recently, the Fed's preferred inflation gauge saw just a 0.3% increase in May, though it was still reflecting a 4.6% annual rate. Fed officials have stressed the importance of reducing that disparity as they look to tamp down the demand that pushed inflation higher.

Persons: hesitance, firming, Jerome Powell, Raphael Bostic Organizations: Federal Reserve, Market, Market Committee, Fed

☆ Indian opposition leader Rahul Gandhi visits restive Manipur after vehicle is initially stopped
▼ + stars: | 2023-06-29 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

CNN —The embattled leader of India’s main opposition Congress party visited crisis-hit Manipur and met with its displaced residents on Thursday, after his convoy was initially stopped by police near the state capital. Rahul Gandhi’s visit comes as the northeastern state grapples with ongoing ethnic violence in which more than 100 people have been killed and tens of thousands more driven from their homes. Modi has yet to comment publicly on the situation and has not visited Manipur since the violence erupted in May. Manipur needs healing, and only together we can bring harmony.”Indian army soldiers patrol the streets of Manipur on June 7, 2023. BJP spokesperson Sambit Patra also claimed that Gandhi is using Manipur as a pawn for his own political gain.

Persons: India’s, Rahul Gandhi’s, Narendra Modi, Modi, Gandhi, “, ”, Sambit Patra, ” Patra, Rahul Gandhi, ” Gandhi, Jawaharlal Nehru, Christian Organizations: CNN, Bharatiya Janata Party, BJP, Facebook, Indian Army, Reuters Locations: Manipur, Imphal, Myanmar, Kuki

[1/2] The U.S. Capitol dome is seen from the Russell Senate Office Building on Capitol Hill in Washington, U.S., April 19, 2023. Despite the consensus on lowering inflation, the Fed is also reaching a point where opinions about the need for and timing of additional interest rate increases may start to diverge. In large part that job has fallen to the Fed, but it is a central bank of Biden's making. If the current crop of nominees is approved five of seven board members would be Biden appointees. The Fed under Powell has raised interest rates faster than at any time since former Fed Chair Paul Volcker's inflation fights of the 1970s and 1980s.

Persons: Sarah Silbiger WASHINGTON, Jerome Powell, haven't, Democrat Joe Biden, Donald Trump, Philip Jefferson, Lisa Cook, Adriana Kugler, Powell, Biden, Preston Mui, Mui, Paul, Howard Schneider, Jason Lange, Dan Burns, Andrea Ricci Organizations: U.S, Russell Senate, REUTERS, . Federal, Democrat, Republican, Federal, of Governors, World Bank, Fed, Financial, America, Reuters, Biden, Trump, Black Americans, Thomson Locations: Russell, Washington , U.S, U.S, Biden's

☆ Two developments created in a tug-of-war in Amazon stock, fueling debate on our next move
▼ + stars: | 2023-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: It's, Jim Cramer, Jim, Lina Khan, Homestretch, Jefferies, it's, Jim Cramer's, Washington, Mike Segar Organizations: Amazon, Trade, Jefferies, Web Services, Big Tech, Jim Cramer's Charitable, CNBC Locations: New York

Inflation has "started to abate" but the Fed will remain focused on returning it to the 2% target, Fed governor and vice chair nominee Philip Jefferson said in testimony prepared for his confirmation hearing on Wednesday before the Senate Banking Committee. "The economy faces multiple challenges, including inflation, banking-sector stress, and geopolitical instability. "Inflation has started to abate, and I remain focused on returning it to our 2% target." As a group, Fed policymakers last week signaled two more interest-rate hikes are likely by the end of the year. The Senate Banking committee on Tuesday also released prepared remarks from Fed Board nominee Adriana Kugler, who said returning inflation to the central bank's 2% target is key to setting a strong foundation for the U.S. economy.

Persons: Philip Jefferson, Jefferson, Lisa Cook, ” Cook, Cook, Adriana Kugler, " Kugler, Kugler, Bob Menendez, Menendez, Howard Schneider, Michael S, Dan Burns, Ann Saphir, Matthew Lewis Organizations: Reserve, Committee, Federal, World Bank, Fed, of Governors, Senate, Derby, Thomson Locations: Washington, U.S, New York, Berkeley , California

☆ Britain's M&S the latest supermarket to cut prices
▼ + stars: | 2023-06-19 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies M&S cuts prices of 70 products, holds prices of 150Morrisons cuts prices of 47 productsMoves follow other reductions across sectorBank of England keeping close eye on food inflationLONDON, June 19 (Reuters) - Marks & Spencer (MKS.L) on Monday became the latest supermarket group in Britain to cut food prices, adding to signs that a surge in inflation is set to abate. M&S cut the price of 70 staple products, such as beef mince, Greek style yoghurt, salmon fillets, chickpeas and tortilla wraps, by between 3% and 25%. Also on Monday, Morrisons, Britain's fifth largest supermarket group, said it was cutting the prices of 47 products by an average of over 25%. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Spencer, Rishi Sunak's, Kantar, James Davey, Kylie MacLellan, Susan Fenton Organizations: Bank of England, Morrisons, Tesco, Asda, Waitrose, Thomson Locations: Britain

☆ British supermarket Morrisons cuts prices of nearly 50 products
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 19 (Reuters) - British supermarket Morrisons said on Monday it was cutting the prices of 47 products by an average of over 25%, in another sign that a surge in inflation might be set to abate. Morrisons, Britain's fifth largest supermarket group, said products subject to the latest price cuts included beef mince, ham, tomatoes, spinach and wholemeal pittas. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. 2 Sainsbury's (SBRY.L) reduced the price of toilet paper, and upmarket grocer Waitrose reduced the price of over 200 products. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Rishi Sunak's, Kantar, James Davey, Alistair Bell Organizations: British, Morrisons, Bank of England, Tesco, Asda, Waitrose, Thomson

☆ Morning Bid: The UK consumer is feeling the heat
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Vidya RanganathanIt's not just the heatwave. UK consumers are paying through their noses for fish and chips too, and Friday brings the next quarterly survey of their views on inflation and rates. As Britain contends with one of the highest inflation rates among major advanced economies, the BOE seems set to hike rates a lot more. The stock has soared 17% this year, but pared some gains as grocers across Europe cap some prices. St. Louis Federal Reserve Bank President Bullard speaks in Oslo, NorwayEarnings/updates: Tesco (TSCO.L)Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Vidya Ranganathan It's, BOE, Bullard, Sam Holmes Organizations: Bank of England, Reuters, Tesco, Asda, June University of Michigan, Louis Federal Reserve Bank, Thomson Locations: Vidya, gilts, Europe, Brussels, Italy, Oslo, Norway

☆ Medical spending is rising. Here’s why that could be bad news for the biggest health-care ETFs
▼ + stars: | 2023-06-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A warning from UnitedHealth Group executives Wednesday that demand for medical services was rising sent insurance stocks tumbling and, in turn, hit investors who bet on health care. The biggest health-care exchange-traded fund, the $41 billion Health Care Select Sector SPDR Fund (XLV) , lost 1% Wednesday. The $17 billion Vanguard Health Care ETF (VHT) also fell about 1%. XLV 5D mountain The XLV was dragged down by insurance stocks on Wednesday. Some Wall Street analysts said the dramatic sell-off in typically stodgy insurance stocks could prove to be a buying opportunity.

Persons: John Franklin Rex, Rex, that's, Cantor Fitzgerald, Sarah James, — CNBC's Michael Bloom Organizations: UnitedHealth Group, Humana, CVS Health, Health Care, CVS, Devices, Abbott Laboratories

☆ Charles Schwab forecasts up to 11% drop in second-quarter revenue
▼ + stars: | 2023-06-14 | by ( Sri Hari N S | ) www.reuters.com time to read: +2 min

June 14 (Reuters) - Charles Schwab (SCHW.N) expects its second-quarter revenue to drop by 10% to 11% due to a contraction in its net interest margin and softer trading activity, the brokerage firm said on Wednesday. The majority of these borrowings could be repaid before the end of 2024, Schwab said. Analysts have warned of a compression in net interest margins for financial firms, as the Fed's rate hikes drain excessive liquidity. Further increases in interest rates could add to pressure on Schwab's earnings, William Blair analysts Jeff Schmitt and Tyler Mulier wrote in a note. Fed policymakers on Wednesday left interest rates steady but signaled they would rise by half a percentage point by the end of the year.

Persons: Charles Schwab, Schwab, William Blair, Jeff Schmitt, Tyler Mulier, Blair, Niket Nishant, Sri Hari, Vinay Dwivedi, Maju Samuel Organizations: Federal Home Loan Bank, Federal, Thomson Locations: The Texas, Sri, Bengaluru

☆ UK's Sunak scraps plan for supermarket price cap after backlash - Telegraph
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 14 (Reuters) - British Prime Minister Rishi Sunak has abandoned plans to ask supermarkets to impose a voluntary price cap on basic goods after a backlash from retailers, the Telegraph reported on Wednesday. British ministers are pursuing other measures to deal with the country's sky-rocketing food inflation, and officials had reassured retailers there would be no intervention in prices, the Telegraph said on Wednesday, citing sources. Britain's competition regulator told supermarkets in late May it was looking at their earnings to identify which supply chains it needed to examine more closely as part of efforts to tackle food price inflation. Asda, Britain's third largest supermarket group, this week froze prices of over 500 products until the end of August, adding to signs that a surge in food inflation is set to abate and even reverse in the coming months. Reporting by Anusha S and Bharat Govind Gautamin Bengaluru; Editing by Diane Craft and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Anusha, Bharat Govind Gautamin, Diane Craft, Jonathan Oatis Organizations: British, Telegraph, British Retail Consortium, Asda, Thomson Locations: Bharat Govind Gautamin Bengaluru

☆ 2 Marines pleaded guilty to Capitol riot-related criminal charges. They are still actively serving in the Marines.
▼ + stars: | 2023-06-13 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Two active-duty Marines pleaded guilty on Monday to Capitol riot-related criminal charges. Both pleaded guilty to a misdemeanor count of parading, demonstrating, or picketing in a Capitol building, according to a spokesperson for the US Attorney's Office for the District of Columbia. Coomer pleaded guilty to the same misdemeanor charge in May and is scheduled to be sentenced by Reyes on Aug. 30. The angles of the photos and the caption indicated he had been inside the Capitol on Jan. 6, the FBI said. Approximately 600 have pleaded guilty, mostly to misdemeanors punishable by maximum imprisonment of six months or one year.

Persons: —, Joshua Abate, Dodge Dale Hellonen, Ana Reyes, Micah Coomer, Coomer, Reyes, AP David Dischley, Hellonen didn't, Abate, Donald Trump's Organizations: Capitol, Marines, Service, Marines Corps, US, Office, District of Columbia, U.S . Capitol Police, Justice Department, U.S, Justice, AP, Abate, Coomer, Marine Corps Base Quantico, Hellonen, Camp Lejeune, FBI Locations: U.S, Fort Meade , Maryland, Oceanside , California, Jacksonville , North Carolina, Virginia, Camp, North Carolina, Washington

☆ UK supermarket Asda freezes prices of 500 products
▼ + stars: | 2023-06-13 | by ( James Davey | ) www.reuters.com time to read: +2 min

Prime Minister Rishi Sunak has set a 2023 target to halve overall inflation but the goal has been undermined as inflation has remained stubbornly high, particularly food inflation. Overall UK consumer price inflation ran at 8.7% in April, the most recent official data showed, while food and drink inflation was 19.1%, just below a 46-year high. Food retailers have said they expect prices to rise in 2023 overall but with the rate of inflation declining through the year. Last week the French government secured a pledge from 75 top food companies to cut prices on hundreds of products. Last month, British finance minister Jeremy Hunt met food manufacturers to raise concerns about the surge in food prices, but no formal price controls were proposed.

Persons: cornflakes, Rishi Sunak, Clive Black, Jeremy Hunt, Kantar, James Davey, Sarah Young, Mark Potter Organizations: Grocers, Asda, Tesco, Foods, Waitrose, Shore Capital, Thomson

☆ It's Wall Street vs Wall Street as the recession debate rages on. Here's what David Rosenberg, Jeff Gundlach and 5 other experts have warned.
▼ + stars: | 2023-06-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Wall Street experts are butting heads over the health of the economy, and what's to come. David Rosenberg, Rosenberg Research president"Markets pricing in a 'soft landing'? Will they ever be in for a big surprise," the Rosenberg Research chief tweeted. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. "We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box.

Persons: David Rosenberg, Jeff Gundlach, Clif Asness, —, Rosenberg, Will, hasn't, we're, Gundlach, Jeffrey Kleintop, Charles Schwab, Kleintop, Goldman Sachs, That's, Jan Hatzius, Hatzius, Jim Reid, David Folkerts, Landau, Reid, Folkerts, Nicholas Colas Organizations: Service, Federal Reserve, Rosenberg Research, DoubleLine Capital, CNBC, Fibre, Association, Deutsche Bank, Deutsche Locations: United States

☆ Just Climate raises $1.5 billion with help from Microsoft fund
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 8 (Reuters) - Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting greenhouse gas emissions is hardest to do, such as cement, shipping, industrials and land use. The firm's initial fund, Climate Assets Fund I, will focus on helping companies with proven technology scale their business to a level to attract more risk-averse investors. "Proven, transformational climate solutions are being developed to decarbonise the industrial sectors. Among other investors to back the fund include IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, California State Teachers’ Retirement System, and Colonial First State Investments.

Persons: Shaun Kingsbury, Kingsbury, Clara Barby, Simon Jessop, Lisa Shumaker Organizations: Innovation Fund, Generation Investment Management, Climate, IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, Colonial, Investments, ABB, Meva Energy, Thomson Locations: California

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