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☆ Analysis: EV charger makers guardedly look to adopt Tesla standard
▼ + stars: | 2023-06-12 | by ( Abhirup Roy | ) www.reuters.com time to read: +5 min

The White House said on Friday that EV charging stations that offer Tesla plugs would be eligible for billions of dollars in federal subsidies as long as they included CCS connectivity. The White House aims to spur deployment of hundreds of thousands of chargers, which it sees as integral to EV adoption. The person, who now works for a charging company, is not authorized to speak to the media and declined to be named. The company that is developing CCS chargers, is "reviewing" its strategy because of the Tesla-GM deal. Logvinov, who is also chief executive of EV charging parts supplier IoTecha, said CCS was worth backing because it had worked for more than a decade with multiple vendors.

Persons: Biden, Tesla, Asaf Nagler, Ashley Horvat, BLNK.O, Jonathan Levy, Aatish Patel, Patel, Superchargers, Oleg Logvinov, Abhirup Roy, Hyunjoo Jin, Jarrett Renshaw, Sayantani Ghosh, Jonathan Oatis Organizations: Ford, GM, Tesla Inc, Tesla's, EVgo Inc, ABB, America, ABB Ltd, Schneider, EV, Ford Motor Co, General Motors Co, ChargePoint Holdings, Reuters, Tesla, CharIN, Logvinov, IoTecha, Thomson Locations: U.S, Swiss, America, CharIN North America, San Francisco, Philadelphia

Meanwhile, BlackRock is part of another group investing $650 million to build chargers along freight routes. Because port real estate is at a premium, most early drayage charging projects will be "behind the fence" on trucking company property, experts said. Electric trucks cannot operate without chargers, but it does not make sense to build chargers if drivers are not using electric trucks. Prologis, the biggest U.S. warehouse owner, created its mobility business to install electric truck chargers and solar panels. "A marriage between real estate and energy infrastructure" will be needed to accelerate the transition to electric-powered trucking, Prologis Mobility's Holland said.

☆ These 74 stocks across 5 categories of AI are the top picks from the sector's leading fund managers.
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

☆ Why AI stocks could return outsized performance in the next 18 months, and 7 leading names with direct exposure, according to an ETFs analyst
▼ + stars: | 2023-02-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

There are mature, large-cap companies that investors could stick to for exposure to the sector. A sudden interest in artificial intelligence has brought the more than decade-old technology to the forefront of investors' minds. It has additional ETFs focused on sectors that will be heavily impacted by AI including the Cloud Computing ETF (CLOU) and Cybersecurity ETF (BUG). They are broken down into innovators, early adopters, early majority, late majority, and finally, the laggards. Mature companies like Microsoft that are developing AI use cases could move AI into a mature stage rapidly.

☆ The AI craze has sent some stocks soaring up to 300%. This list of over 74 stocks across 5 categories features the top picks from the sector's leading fund managers.
▼ + stars: | 2023-02-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

DAVOS, Switzerland, Jan 18 (Reuters) - Heavy electrical company ABB Ltd (ABBN.S) Chairman Peter Voser sees his firm acquiring between five to 10 small-to-medium enterprises a year to add to the company's organic business, he said on Monday. "Each division of ABB should be active in organic and inorganic strategies, which would see ABB acquiring between five to 10 small-to-medium business every year," Voser told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting at Davos. Zurich-based ABB raised around 200 million Swiss francs in November, which at the time was around $209 million, from selling an 8% stake in its EV charging business. "We are constantly looking at both opportunities of further private placements and/or floating, but we are under no pressure," Voser said. That's fair to say, given the population and the economies there, but I wouldn't underestimate the growth potential in the U.S.," Voser said.

☆ ABB’s $327 Million Bribery Settlement Arrives in U.S. Court
▼ + stars: | 2022-12-02 | by ( Dylan Tokar | ) www.wsj.com time to read: +5 min

The U.S. court hearing was part of a globally coordinated deal that extends to authorities in South Africa, Switzerland and Germany, with the apparent bulk of the fines being collected in South Africa. The settlement is the first that U.S. authorities have reached in coordination with authorities in that country. The Kusile Power Station, a coal-fired power plant in South Africa. Switzerland on Friday said it was issuing a fine of 4 million Swiss francs, equivalent to about $4.3 million dollars. The Justice Department said it anticipated a related settlement with German authorities, but didn’t indicate a time frame.

☆ U.S. says Swiss engineering group ABB to pay over $315 mln to resolve bribery case
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Dec 2 (Reuters) - Swiss engineering and technology group ABB Ltd (ABBN.S) agreed to pay more than $315 million to resolve an investigation into a bribery case at a South African state-owned energy company, the U.S. Justice Department said on Friday. The Justice Department said its resolution was coordinated with prosecutorial authorities in South Africa and Switzerland, as well as the U.S. Securities and Exchange Commission (SEC). Reporting by Kanishka Singh in Washington; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ More Cases, Policy Changes Are on the Horizon, DOJ’s New Fraud Section Chief Says
▼ + stars: | 2022-11-30 | by ( Dylan Tokar | ) www.wsj.com time to read: +4 min

The fraud section has at least two bribery-related settlements with corporations that it plans to finalize in the coming weeks, Mr. Leon said. Justice Department settlements typically require companies to undertake compliance reforms over a set period of time. A company’s chief executive and chief compliance officer will be required to sign at the end of that period the certification document, stating that the company’s compliance program is “reasonably designed to prevent and detect” future violations. A veteran of the fraud section, Mr. Leon previously served as a supervisor in its securities fraud unit beginning in 2011 and then briefly as its deputy chief before departing in early 2014. More policy changes are on the horizon, Mr. Leon said, including an update to the fraud section’s FCPA corporate enforcement policy.

☆ ABB Nears Deal to Resolve Third U.S. Bribery Case Against Company
▼ + stars: | 2022-11-25 | by ( Dylan Tokar | ) www.wsj.com time to read: +7 min

Photo: Waldo Swiegers/Bloomberg NewsIn the U.S., the ABB deal is an early test of a pledge by the Biden administration to take a tougher stance on corporate repeat offenders. An ABB spokesman said the company continues to fully cooperate with authorities and hopes to reach a final settlement soon. Exactly how U.S. authorities, including the Justice Department, will frame the ABB deal in relation to the new stance on repeat offenders remains to be seen. Allowing the ABB parent company to avoid a guilty plea will in theory help shield much of its business globally from those risks. The ABB deal would also mark the second time the Swiss company has settled FCPA offenses with a deferred-prosecution agreement.

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