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"I think that we have a very good candidate for the World Bank," French Finance Minister Bruno Le Maire said of Banga during a news conference at the G20 finance leaders meeting in India. The comments marked a turnabout from Tuesday, when Germany's international development minister, Svenja Schulze, who represents a different party in Germany's coalition government, said the next World Bank chief should be a woman. The G20 ministers meeting is being held on the outskirts of the Indian tech hub city of Bengaluru. 'UNIQUE SET OF SKILLS'The United States, the lender's dominant shareholder, has chosen every World Bank president since the founding of the institution at the end of World War Two. World Bank staff are bracing for Banga to make some management changes at the bank, emboldened by Yellen's repeated calls for "bolder and more imaginative" action by the bank, two bank sources told Reuters.

☆ Economists urge China to think 'beyond GDP' to head off climate risks
▼ + stars: | 2023-02-23 | by ( David Stanway | ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 23 (Reuters) - A team of influential economists has urged China to adopt a new development model based on "wellbeing" rather than GDP growth in order to fulfil its 2060 net-zero emissions goals and head off the mounting threats of climate change. The old development model drove rapid growth in China over the last four decades, but is putting the world at "grave risk", the report said. China began experimenting with "green GDP" in 2005 as concerns mounted about the environmental damage done by rapid industrialisation. A 2006 government report concluded that environmental losses amounted to 3% of total GDP, but critics believed the actual figure was much higher. China is home to 16 of the 20 global regions most vulnerable to climate change, data showed on Monday.

☆ Female-owned farms and companies are growing Ghana's taste for coffee
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

As the women worked, Tamakloe walked among them with a device to test the coffee beans' moisture content. Today, Bean Masters coffee is mostly sold in bulk to high-end restaurants and hotels. But Tamakloe aims to expand her production of retail-sized bags this year to make Bean Masters available to all kinds of consumers. At Kozo, an Afro-Asian fusion restaurant in Accra, Tamakloe and the staff sipped espressos made with Bean Masters coffee. The owner visited Pagniw's farm with Tamakloe in 2021, and has exclusively stocked Bean Masters ever since.

☆ South Korean prosecutors seek to arrest opposition leader in graft probe
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Feb 16 (Reuters) - South Korean prosecutors on Thursday requested an arrest warrant for the head of the main opposition Democratic Party, Lee Jae-myung, in an investigation into development projects and bribery allegations. Lee, who was mayor of the city south of Seoul from 2010 to 2018, has denied any wrongdoing. The Democratic Party denounced prosecutors' move, calling it an "unprecedented act of violence to incapacitate the opposition party and eliminate the president's political enemy." Lee lost to President Yoon Suk-yeol, a former prosecutor-general, in the March presidential election by a margin of just 0.7%. ($1 = 1,281.3900 won)Reporting by Soo-hyang Choi and Hyonhee Shin; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft and Google promised to invest in these communities. Now they’re backtracking
▼ + stars: | 2023-02-14 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Hyosub Shin/The Atlanta Journal-Constitution/ZUMA Press WireFacebook-parent Meta, Microsoft, Salesforce and Snap have each shuttered offices or announced plans to cut back on real estate, according to recent corporate announcements, filings and local news reports. But residents also had cautious optimism about the benefits Microsoft promised to the community, according to Hope. Hope’s community isn’t alone in confronting the whiplash of Silicon Valley’s real estate pullback. An office sits vacant on October 27, 2022 in San Francisco, California. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home.

☆ Biden to meet Brazil's Lula for talks on climate, democracy
▼ + stars: | 2023-02-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Days later a violent movement of election-denying Bolsonaro supporters stormed Brazil’s presidential palace, Congress and Supreme Court. Biden and Lula are not expected to agree on the war in Ukraine given Brazil's neutrality. On CNN, Lula defended his decision not to provided German-made artillery ammunition sought for the West's support of Ukrainian defense. Brazil's foreign ministry said support for democracy, human rights and the environment will be at the center of Lula's agenda in Washington. Lula traveled to Washington with Environment Minister Marina Silva, who is expected to meet with Biden's climate envoy John Kerry.

☆ Biden and Lula project unity on democratic values and climate change
▼ + stars: | 2023-02-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

Brazil "self-marginalized itself for four years" under the former president, Lula said at the White House, without mentioning Bolsonaro by name. His world, Lula said, had "started and ended with fake news in the morning, afternoon, at night," prompting Biden to laugh and interject, "sounds familiar." Lula said the two leaders could also work together to combat inequality and climate change. Lula's visit to the White House followed a meeting with Senator Bernie Sanders and other lawmakers from Biden's Democratic Party. At the White House, Lula said the Amazon rainforest had been "invaded" under the previous administration, adding that he was committed to reaching zero deforestation by 2030.

[1/3] South Korea's 1st Vice Minister of Economy and Finance Bang Ki-sun speaks during an interview in Seoul, South Korea, February 9, 2023. The Ministry of Economy and Finance/Handout via REUTERSSEOUL, Feb 9 (Reuters) - South Korea's plans to loosen restrictions in its currency market will raise the won's status globally and boost business opportunities for local financial firms, a vice finance minister told Reuters on Thursday. South Korea's economy contracted in the December quarter but Bang said the most recent information indicated it would return to growth in the January-March period, without providing specific data. House prices in South Korea fell 1.98% in December from a month earlier, the fastest drop since data releases began in late 2003 and a seventh consecutive month of decline. The comment contrasted with a long practice of South Korean authorities expressing their concerns about the adverse effect on price competitiveness of their export goods abroad.

☆ Goldman Sachs to invest over $1 bln in Europe biomethane venture
▼ + stars: | 2023-02-06 | by ( Virginia Furness | ) www.reuters.com time to read: +2 min

Biomethane, a lower carbon alternative to fossil-based natural gas, is produced from the decomposition of organic waste and is seen as a key plank in efforts to lower carbon emissions in the European Union. Verdalia Bioenergy will invest in both early-stage biomethane development projects as well as existing assets with the aim of contributing to Europe's decarbonisation and energy security agenda, the asset manager said on Monday. It has already signed an agreement to purchase a portfolio of biomethane projects with a total capacity of around 150 gigawatt hours per year (GWh/year) in mid-stage development in Spain. Biomethane can be used in the same way as natural gas and delivered using the same infrastructure, yet comes without the same high level of climate-damaging emissions. Biogas and biomethane production has already created 210,000 green jobs in Europe and is saving 60 million tons of greenhouse gas emissions per year, according to the European Biogas Association.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ I coach workers at Amazon and Google through layoffs. Here's what I tell those who've been let go and those left behind.
▼ + stars: | 2023-01-23 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Alisa Cohen has coached tech workers at companies like Google and Amazon. More than 50% of my career-coaching clients work in Big Tech, and another 30% are in B2B SaaS or e-commerce. I'm seeing some large tech companies like Google and Meta offering 10 to 16 weeks of base salary plus one to two weeks for each additional year worked. I coach job seekers to consider if the work environment, leadership, and culture are aligned with their values. I coach clients to connect their actions to their results — and importantly, to communicate the value they've added and impact they've made.

☆ In Mexico, a reporter published a story. The next day he was shot dead
▼ + stars: | 2023-01-21 | by ( Sarah Kinosian | ) www.reuters.com time to read: +10 min

One man got out, walked inside and shot the 42-year-old journalist dead. As he lay dead, a nearby patrol car responded to an emergency call, intercepted the pickup and arrested the two men. "In silence zones people don't get access to basic information to conduct their lives," said Jan-Albert Hootsen, CPJ's Mexico representative. One of those killed was Gustavo Sanchez, a journalist shot at close range in June 2021 by two motorcycle-riding hitmen. "You would think the biggest enemy would be armed groups and organized crime," said journalist Patricia Mayorga, who fled Mexico after investigating corruption.

☆ In Mexico, a reporter published a story. The next day he was dead
▼ + stars: | 2023-01-21 | by ( Sarah Kinosian | ) www.reuters.com time to read: +10 min

A day earlier, Lopez–who ran two online news sites in the southern Oaxaca state–had published a story on Facebook accusing local politician Arminda Espinosa Cartas of corruption related to her re-election efforts. As he lay dead, a nearby patrol car responded to an emergency call, intercepted the pickup and arrested the two men. "In silence zones people don't get access to basic information to conduct their lives," said Jan-Albert Hootsen, CPJ's Mexico representative. The infrastructure was a part of the Interoceanic Corridor–one of Lopez Obrador's flagship development projects in southern Mexico. "You would think the biggest enemy would be armed groups and organized crime," said journalist Patricia Mayorga, who fled Mexico after investigating corruption.

☆ A fire just razed a slum in the heart of one of Korea's ritziest neighborhoods. It highlights the vast wealth gap and tight proximity in which Seoul's richest and poorest live.
▼ + stars: | 2023-01-20 | by ( Cheryl Teh | Amanda Goh | ) www.businessinsider.com time to read: +6 min

On January 20, a fire tore through the shantytown of Guryong village in Seoul. Firefighters and rescue workers clean up the site of a fire at Guryong village in Seoul, South Korea, Friday, Jan. 20, 2023. ED JONES/Getty ImagesGuryong feels like a world away from Seoul, but it's very close to where the most well-heeled people in South Korea live. Around a fifth of single-person households in Seoul live in spaces under 14 square meters, or 150 square feet. But for now it's still Guryong village — a smoldering scar on the sparkling facade South Korea would rather have you looking at instead.

How LGFCU accounts compare Local Government Federal Credit Union Share SavingsLocal Government Federal Credit Union Checking AccountLocal Government Federal Credit Union Money Market AccountLocal Government Federal Credit Union Share Term Certificates Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How Local Government Federal Credit Union worksLocal Government Federal Credit Union is a financial institution that serves North Carolina's local government employees and volunteers. The credit union doesn't have branches, but it's partnered with State Employees Credit Union. Local Government Federal Credit Union vs. Truliant Federal Credit UnionTruliant Federal Credit Union is a CDFI that serves local communities in North Carolina, South Carolina, and Virginia. Local Government Federal Credit Union offers higher interest rates, but Truliant Federal Credit Union doesn't charge monthly services.

☆ Thousands sign petition to save 'sacred' Japan stadium where Ruth once played
▼ + stars: | 2023-01-17 | by ( Elaine Lies | ) www.reuters.com time to read: +2 min

TOKYO, Jan 17 (Reuters) - Thousands of baseball fans have signed a petition to save an iconic Tokyo stadium nearly a century old where Babe Ruth once played and which inspired best-selling author Haruki Murakami to first pick up a pen. "The citizens of Tokyo are going to regret it," said Robert Whiting, who has written books on Japanese baseball and who over the weekend started an online petition to save the stadium, which "reeks of history." "They're going to lose a really beautiful, quiet, relaxing spot and a great place to watch a baseball game," he told Reuters. Babe Ruth and Lou Gehrig played there in 1934 as part of a Japanese tour, making the stadium only one of a handful remaining where Ruth played. By noon on Tuesday, Whiting's petition, addressed to Tokyo governor Yuriko Koike and several others, had almost 10,000 signatures.

☆ Google's moonshot factory is coming down to Earth
▼ + stars: | 2023-01-10 | by ( Hugh Langley | ) www.businessinsider.com time to read: +12 min

The project, known internally by its codename, "Valkyrie," was the typical science-fiction-sounding idea that Google's self-described "moonshot factory" was designed to dream up. But amid a lack of successful launches and a tech industry facing economic headwinds, insiders say the lab is now hitting the hard-reset button and rethinking its purpose within Alphabet, Google's parent company. X swapped standard corporate titles like "Communications Lead" and "Manager" for grander and more-nebulous names like "Factory Whisperer" and "Firestarter." Its internet-balloon unit, Google Loon, meant to bring people in rural areas online, was shuttered in January 2021. "I think the infusion of VC people is a good thing," one former senior X employee said.

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Japan to hike annual defence budget by a quarter to buy Tomahawks and other weapons
▼ + stars: | 2022-12-23 | by ( Tim Kelly | ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/Pool/File PhotoTOKYO, Dec 23 (Reuters) - Japan on Friday said it will hike defence spending by more than a quarter next year including $1.6 billion to buy U.S.-made Tomahawk cruise missiles that will be part of its biggest military build-up since World War Two. The budget, which lawmakers will approve before April, allocates 897 billion yen for weapons development, more than in the previous four years combined. Tokyo plans to begin deploying those new weapons in around three years, a Ministry of Defence official said at a briefing. Japan, which relinquished its right to wage war after its defeat in World War Two, plans to double defence outlays to 2% of gross domestic product within five years. To reinforce its air fighting capability, it also plans to buy 16 Lockheed Martin Corp (LMT.N) F-35 stealth fighters for 250 billion yen.

☆ Nippon Steel to invest in reduced iron projects needed for green steel
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: 1 min

Companies Nippon Steel Corp FollowTOKYO, Dec 22 (Reuters) - Japan's top steelmaker Nippon Steel Corp (5401.T) aims to join new raw material development projects to make reduced iron, using hydrogen, to meet the growing demand for green steel, its president said on Thursday. But the company will keep investing in coking coal mines to secure a key steel-making raw material as new development projects for the coal have been shrinking due to concerns over climate change, Nippon Steel President Eiji Hashimoto told a news conference. Reduced iron is produced from a process where oxygen is removed from the iron ore to make metallic iron without melting it. Reporting by Yuka Obayashi; editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ India's Edelweiss acquires L&T-CPPIB infrastructure project for $725 million
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Dec 17 (Reuters) - Canadian pension fund CPP Investments Board and construction firm Larsen and Toubro (LART.NS) said they have sold the entire stake in their joint venture to Indian investment firm Edelweiss for 60 billion Indian rupees ($725.46 million)The joint venture called L&T Infrastructure Development Projects Limited owned eight roads and one power transmission asset in India. The deal is subject to regulatory approval and other conditions but will give Edelweiss' platform 26 assets with a mix of power transmission, substations and highway assets across India"These assets have a proven track record of operations, are geographically dispersed and have long residual life, which is consistent with our investment strategy," said Sreekumar Chatra, Managing Director at Edelweiss' Infrastructure Yield Strategy. CPP Investments first invested in the joint venture in 2014, in what was the first direct private investment by a Canadian pension fund in an Indian infrastructure company, and later acquired a majority stake of 51% in 2019($1 = 82.7060 Indian rupees)Reporting by M. Sriram; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Toyota to outline 3-year EV plan changes to suppliers
▼ + stars: | 2022-12-11 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +5 min

The leading Japanese automaker is expected to detail the EV plan changes through early 2026, communicating the adjustments to major suppliers, the people said on condition of anonymity as the information is confidential. Toyota is set to convene a major powwow of suppliers in February, the first such global supplier convention since the pandemic. The working group has been charged with outlining plans to improve Toyota's EV approach, including considering a potential successor to its new EV platform, e-TNGA. Toyota has been working with two suppliers Denso (6902.T) and Aisin (7259.T) for its EV reboot. That resulted in a soon-to-be-marketed, China-only Toyota electric sedan called the bZ3, powered by BYD batteries.

☆ Australia proposes to overhaul 'broken' environment laws
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Dec 8 (Reuters) - Australia will overhaul its environment laws and set up a new nature protection agency which would have powers to make decisions on the approval of development projects, Environment Minister Tanya Plibersek said on Thursday. The move by the centre-left Labor government comes more than two years after an independent review found Australia's environment laws were outdated and required fundamental reform. The independent Environment Protection Agency (EPA) will be responsible for all project assessments and decisions but the federal environment minister will retain the power to review EPA approvals. What we are seeking is a win-win - a win for the environment and a win for business," Plibersek told reporters. The EPA will act as "a tough cop on the beat" that can help reverse the deterioration of Australia's environment, Plibersek said.

☆ Apple may pull iPhone production out of China. Don’t expect other supply chains to follow.
▼ + stars: | 2022-12-08 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

COVID lockdowns and protests in China have reportedly pushed Apple to move production. It's the latest hit in a wave of talk about "reshoring" supply chains not always followed by action. In an August survey conducted by research firm Gartner, 95% of responding companies said they were reevaluating their China sourcing strategies. And most would say they had plans to move their supply chains away from China. But just as the Wall Street Journal reported Apple's intent to leave China, the country's leaders relaxed the COVID restrictions that were strangling the economy.

☆ Remote Work Is Gutting Downtowns, Will Cost Cities $453 Billion
▼ + stars: | 2022-12-06 | by ( Emil Skandul | ) www.businessinsider.com time to read: +13 min

Even 2 1/2 years later, most city downtowns aren't back to where they were prepandemic. Without more-robust policies to address failing downtowns, cities are going to start hurting. The increased cancellations of office leases have cratered the office real-estate market. Since 2016, only 112 commercial office spaces in the US have been converted, while 85 projects are underway or have been announced, according to CBRE's data. The birth of the central social districtTo avoid a commercial real-estate apocalypse, cities will need to streamline conversions.

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