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☆ Has climate change made utilities a risky bet? What income investors need to know
▼ + stars: | 2023-08-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

The wildfires in Maui are just the latest example of severe weather and the peril facing utilities. However, investors can pick up about 4% yield on stocks that have dividends that are considered safe, which makes them attractive to investors seeking income. Climate change's impact Climate change is altering not only the Earth's temperature, but also precipitation patterns, said Zachary Zobel, risk associate director at Woodwell Climate Research Center. Climate change could impact utilities in other areas, like sustaining damage during hurricanes and floods. "You don't have to just rely on just one sector to get dividend income," said Cheng.

Persons: hasn't, Michael Lonegan, Neil Kalton, Kalton, Zachary Zobel, Zobel, Berkshire Hathaway, PacificCorp, Wells Fargo's Kalton, it's, Marguerita Cheng, Cheng, — CNBC's Michael Bloom Organizations: Hawaiian Electric, Maui Electric, Electric, NBC News, Evercore ISI, Wall Street, Wells, Wells Fargo Securities, FEMA, Woodwell Climate Research Center, Gas & Electric, Blue, Global, CNBC, & $ Locations: Maui, Lahaina, Wells Fargo, California, Berkshire

REUTERS/Katherine Taylor/File PhotoWASHINGTON, April 26 (Reuters) - A former Harvard University professor was sentenced on Wednesday to six months' house arrest for lying about his ties to a China-run recruitment program, prosecutors said, in one of the highest-profile cases resulting from a crackdown on Chinese influence on U.S. research. Lieber was sentenced to two days in prison - time that he had already served following his arrest - and half a year of house arrest with a fine of $50,000, prosecutors said. He was also sentenced to two years of supervised release and a restitution to the Internal Revenue Service of $33,600, according to prosecutors. The failed cases included another one in Boston in which prosecutors in January 2022 dropped charges against Massachusetts Institute of Technology professor Gang Chen for concealing his ties to China when seeking grant money. Prosecutors said Lieber failed to report his salary on his 2013 and 2014 income tax returns and for two years failed to report the bank account.

BOSTON, Jan 4 (Reuters) - The architect of the largest U.S. college admissions fraud scheme ever uncovered will be sentenced on Wednesday for helping wealthy parents secure the admission of their children to elite universities through cheating and bribery. The former college admissions consultant played a key role as a cooperating witness in the "Operation Varsity Blues" investigation. Singer admitted in 2019 to facilitating cheating on college entrance exams and funneling money from wealthy parents to corrupt university coaches to secure the admission of their children as fake athletic recruits. The years-long investigation into the scheme resulted in the conviction of more than 50 people, including actors Lori Loughlin and Felicity Huffman, two of the many wealthy parents Singer had as clients. Singer took in more than $25 million from his clients while running a California-based college admissions counseling service called The Key and a related charity.

BOSTON, Dec 28 (Reuters) - Federal prosecutors on Wednesday asked a judge to sentence the mastermind of the largest U.S. college admissions fraud scheme ever uncovered to six years in prison after he helped them secure the convictions of dozens of wealthy parents including Hollywood celebrities. Prosecutors made the recommendation a week before William "Rick" Singer, the college admissions consultant at the center of the "Operation Varsity Blues" investigation, goes before a judge for sentencing after pleading guilty in 2019. Prosecutors said Singer, operating through his California-based college admissions counseling service The Key and a related charity, took in more than $25 million from his clients. They said he paid out more than $7 million to bribe coaches and administrators at schools including Georgetown University, the University of Southern California, Yale University and Stanford University. Singer, who now lives in a Florida trailer park, in his own filing wrote that he lost everything by "ignoring what was morally, ethically, and legally right in favor of winning what I perceived was the college admissions 'game.'"

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