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☆ China's led the EV race – but it may be running out of charge
▼ + stars: | 2023-10-22 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThere's been a clear winner in the global EV race so far: China. Ford CEO Jim Farley announcing its Michigan EV battery plant in February. Bill Pugliano/Getty ImagesConcern about using Chinese battery technology reflects wider global concern about China's domination of the EV battery market, with governments starting to block Chinese investment into mines and factories. AdvertisementAdvertisementAustralia is the world's biggest producer of lithium, a key material for EV batteries, and a major producer of other rare earths. AdvertisementAdvertisementChina may have led the world in the EV race – but those days could well be numbered.

Persons: —, Bill Russo, Chrysler's, CATL, Ariel Cohen, there's, Shawn Fain, Ford, Jim Farley, Bill Pugliano, Jim Chalmers, Cohen, Morgan Stanley, Mazzocco, Bernstein, he's, Biden, it's, Ursula von der, Donald Trump Organizations: EV, European Union, Service, Economic, Financial, Ford, Council's Eurasia Center, of Foreign Relations, UAW, Reuters, Michigan EV, Minerals, Publishing, Center for Strategic, International Studies, South, Japan's Panasonic, European, Benz, Bloomberg, White Locations: China, America, Europe, South Korea, Michigan, Australia, India, Nanjing, Washington ,, Hungary

☆ More people are missing car payments in another ominous sign for the economy
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

A record number of subprime borrowers are behind on auto loan payments by more than 60 days. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg. More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. AdvertisementAdvertisementFor subprime borrowers, rates for new cars average 11.5% and 18.5% for used autos, according to Experian.

Persons: —, Margaret Rowe, Zers Organizations: Fitch, Bloomberg, Service, CNN, Fed, Economic, Cox Automotive Locations: Edmunds

☆ One sector in China is beating the slowdown — 3 stocks to play it including one with 80% upside
▼ + stars: | 2023-10-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After Beijing cracked down on real estate developers' high debt levels, banks and other financial institutions drastically pulled back on lending to those companies. Meanwhile, China's latest development plans have emphasized advanced manufacturing — production of goods of higher value than apparel and other lower-cost goods Chinese factories have been known for. But analysts increasingly realize that the high-growth days of real estate are over, weighing further o n the economy in the near term. Oxford Economics expects the economy to slow to a 4.4% pace in 2024 and 4.0% in 2025, dragged down by real estate. China is set to release third-quarter GDP, retail sales, industrial production and fixed asset investment on Wed., Oct. 18.

Persons: That's, hasn't, Banks, Gill, Kharas, Louise Loo, Loo, Brian Tycangco Organizations: People's Bank of China, Oxford, Stansberry Research, HSBC, World, Network Locations: China, Beijing, Oxford, Friday's

Sundar Pichai, Chief Executive Officer of Alphabet, gestures as he speaks during a session of the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse Acquire Licensing RightsBRUSSELS, Oct 13 (Reuters) - EU industry chief Thierry Breton on Friday warned Alphabet (GOOGL.O) Chief Executive Officer Sundar Pichai to adhere to EU tech rules after the spread of disinformation on YouTube following Hamas' attacks in Israel, the latest company to be rebuked. False content about the Israel and Hamas conflict has proliferated on the major social media platforms over the past several days. According to Alphabet's YouTube, the company has quickly worked to remove harmful content after Hamas' attack and was prepared to take additional action. It has also rolled out a crisis resource panel in search with information from Israeli authorities for viewers in Israel.

Persons: Sundar Pichai, Denis Balibouse, Thierry Breton, Breton, Pichai, Elon Musk, Mark Zuckerberg, Shou Zi Chew, Foo Yun Chee, Sudip Kar, Gupta, Sheila Dang, Louise Heavens, Diane Craft Organizations: Economic, REUTERS, Rights, YouTube, Twitter, Digital Services, Google, DSA, Thomson Locations: Davos, Switzerland, Rights BRUSSELS, Israel, Dallas

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. The criminal and civil probes followed a voluntary disclosure by the unit, Accenture Federal Services, to the government, the IT service provider said in a regulatory filing. "This matter could subject us to adverse consequences," Accenture said. The unit works with the Accenture's clients in the U.S. federal government and accounted for 15% of overall fiscal 2023 revenue from North America, the company's biggest market. Reporting by Chavi Mehta in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Chavi Mehta, Arun Koyyur Organizations: Accenture, REUTERS, U.S . Justice, Accenture Federal Services, DOJ, Thomson Locations: Davos, Switzerland, U.S, North America, Bengaluru

☆ So long, computer science — Chaos Studies is the hot new college degree
▼ + stars: | 2023-10-05 | by ( Tiffany Ng | ) www.businessinsider.com time to read: +12 min

"I remember joking about majoring in puzzles as a kid, never imagining that such a thing was possible until my mom discovered the individualized major program," Shortz said. Between 2019 and 2021, there was a 3% increase in the number of students graduating with individualized studies degrees. With majors like Chaos, Human Computer Interaction, and Architecture and Food Theory, students aren't just crafting these degrees for fun. In 2020, RIT renamed its individualized major the New Economy major and highlighted the need for students to "adapt to evolving career fields." Adopting a rather divergent approach to the same goal, New York University's Gallatin School of Individualized Studies frames its approach as honing the "management of knowledge."

Persons: Will Shortz, Shortz, — Shortz, He's, we're, Oluwaseyi Onifade, Onifade, James Hall, they're, Makini Beck, SOIS, he's, Ben Papernick, Papernick, haven't, Peter Rajsingh, Gallatin, Kahrej Ahluwalia, Ahluwalia, Rajsingh, Tiffany Ng Organizations: Dell, Indiana University, The New York Times, National Center for Education Statistics, Rochester Institution of Technology, Oluwaseyi, RIT's, Society, Jobs, RIT, Genesee Community College, Applied, University of Texas, Austin, University of Southern, New York University's Gallatin School, Baseball, Gallatin, Schools, NYU Locations: RIT's, Western New York, University of Southern California, New York, Gallatin

☆ Sam Bankman-Fried decided at the last minute he didn't want to speak at the World Economic Forum in Davos, leaving organizers scrambling
▼ + stars: | 2023-10-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried was supposed to speak at the WEF's flagship event in Davos. However, he decided not to show up the night before the event, per Michael Lewis' biography on the disgraced FTX founder. Lewis wrote SBF would cancel on people "because he'd done some math in his head that proved that you weren't worth the time." "CEOs had flown to the Bahamas under the mistaken impression that Sam had agreed to buy their companies," Lewis wrote in his book. The World Economic Forum Annual Meeting is the organization's flagship event held at the end of each January in Davos, Switzerland.

Persons: Sam Bankman, Fried, Michael Lewis, Lewis, SBF, —, Sam, It's, Mark Cohen Organizations: Service, Economic, Political, Bankman Locations: Davos, Davos —, Bahamas, Switzerland, Dubai

☆ The 10 best countries to live in if you're a woman and want to go to school, get a job, and be politically empowered
▼ + stars: | 2023-10-03 | by ( Amanda Goh | ) www.businessinsider.com time to read: +2 min

The World Economic Forum, or WEF, released its Global Gender Gap Report 2023 in June. AdvertisementAdvertisementAlthough no country has fully closed its gender gap, Scandinavian countries are taking the lead, according to the World Economic Forum's Global Gender Gap Report 2023. The study found that the global gender gap has closed by 68.4% — up by 0.3% from last year's 68.1%. The Global Gender Gap Report compares countries' gender gap in four different areas: economic participation and opportunity, educational attainment, health and survival, and political empowerment. The average of each subindex score is then used to calculate the overall Global Gender Gap Index score.

Persons: —, Saadia Zahidi Organizations: Economic, US, Service

☆ A 90-year-old McDonald's employee in Japan swears working is the key to her health, and she doesn't plan to stop before age 100
▼ + stars: | 2023-09-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Tamiko Honda, a 90-year-old McDonald's employee, says that work is the key to her health. Coming to work and talking with young people keeps me lively," she told local outlet Mainichi. AdvertisementAdvertisementAt 90, Tamiko Honda is the oldest female employee at McDonald's Japan, per local news reports. That's because these jobs had a mandatory retirement age which she crossed at age 61 as a nurse and at age 67 as a cleaner. McDonald's Japan did not immediately respond to a request for comment from Insider.

Persons: Tamiko, —, Tamiko Honda, she's, Honda, SoraNews24, McDonald's Organizations: Tamiko Honda, Mainichi, Service, Japan, Honda Locations: Japan, Kumamoto, McDonald's, McDonald's Japan

☆ Accenture warns of weaker fiscal 2024 as IT spending remains under pressure
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Accenture expects first-quarter revenue in the range of $15.85 billion to $16.45 billion, while analysts polled by LSEG forecast $16.43 billion. The company also forecast fiscal 2024 adjusted earnings per share to be in the range of $11.97 to $12.32, below estimates of $12.45. The mid-point of its revenue growth forecast of 2% to 5% in local currency also fell short of estimates. Accenture's revenue rose 4% to $16 billion in the fourth quarter ended Aug. 31, compared with estimates of $16.08 billion.

Persons: Arnd, Julie Sweet, Chavi Mehta, Shinjini Organizations: Accenture, REUTERS, U.S, Infosys, Tata Consultancy Services, LSEG, Thomson Locations: Davos, Switzerland, Federal, Indian, Bengaluru

☆ It's not just you. LinkedIn has gotten really weird.
▼ + stars: | 2023-09-25 | by ( Rob Price | ) www.businessinsider.com time to read: +19 min

The number of LinkedIn posts grew 41% from 2021 to 2023. A larger rival account emerged, State Of LinkedIn, and a Reddit community thrived — "LinkedIn Lunatics." "Do you realize how dangerous it is to troll via LinkedIn posts? For most people, their LinkedIn posts don't escalate so rapidly. According to Joseph Yeh, a tech recruiter in California who used to work for LinkedIn, revelatory posting is a balancing act.

Persons: Matthew Sciannella, I'm, Sciannella, he'd, Peter Rota, Rota, Xavier Lalanne, There's, Oversharing, Gen, Catalina Valentino, Elon, Sarah Frier, John Hickey, Ted Talkification, you'd, Hickey, Peter Rota's, Hickey wasn't, ominously, Jack Raines, sagely, Alexander Cohen, Cohen's, Raines, Cohen, Jacqueline Rainey —, he's, Young, —, , John Reid, Jon Franko, Franko, Instagram, @BestofLinkedIn, Reid, hypocritically, Joseph Yeh, Yeh, Daniel Roth, Fortune, Roth, Sciannella's, didn't, Slack, Franko's, Jameson, who's, He's, Rob Price Organizations: LinkedIn, Facebook, Microsoft, peeing, Economic, Twitter, Bloomberg, Columbia Business School, New York, New York Mets Locations: Washington, DC, Massachusetts, Davos, San Francisco, San Francisco Bay, New York City, Columbia, Manhattan, Bay, Oakland, California

☆ So many people want to attend a Middle East investment conference dubbed 'Davos in the desert' that they're charging $15,000 to get in the door
▼ + stars: | 2023-09-23 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

About 5,000 delegates are paying $15,000 each to attend an investment conference in Riyadh next month. Growing interest in the conference also underlines Saudi Arabia's rising global influence. The annual event is the largest investment and business conference in the Middle East, and has been compared to Davos – the Swiss ski resort that hosts the World Economic Forum each January. As well as being a forum for discussion, the event is also an accelerator for Saudi investment opportunities. At last year's conference, more than 28 investment deals worth over $9 billion were signed, according to the US-Saudi Business Council.

Persons: Goldman Sachs, Sam Bankman, Jared Kushner, execs, Jamal Khashoggi, Prince Mohammed bin Salman's Organizations: Service, Future Investment Initiative, Street Journal, Economic, Bridgewater Associates, Saudi Business Council, Investment Initiative, FII Institute, Saudi Locations: Riyadh, Saudi, Wall, Silicon, Eastern, Davos, Saudi Arabian, Blackstone, BlackRock, Istanbul, FAYEZ, Saudi Arabia

☆ Companies Might Be Forced to Report Their Impact on Nature. A New Framework Aims to Help.
▼ + stars: | 2023-09-19 | by ( Joshua Kirby | ) www.wsj.com time to read: +6 min

New nature-reporting recommendations aim to help companies assess their impact on and risks from the world’s natural systems. This is despite growing awareness of the catastrophic effects of biodiversity loss, Capgemini said in a report, based on a survey of executives of large organizations from major economies. The TNFD recommendations are currently voluntary, but come as regulation tightens around degradation of the natural world. Separately, in the EU, many companies are already facing obligations to report their impact on nature under the bloc’s Corporate Sustainability Reporting Directive. “We recognize that nature loss poses both risks and opportunities for business, now and in the future,” said Jennifer Motles, PMI’s chief sustainability officer.

Persons: ”, Elizabeth Mrema, David Craig, TNFD’s, “, Capgemini, Aurélie, Philip Morris, Jennifer Motles, laurent gillieron, Gillon, Gucci, Zoe Balmforth, ” Balmforth, Joshua Kirby, joshua.kirby@wsj.com Organizations: Sustainable Business, United Nations, Force, Economic, World Bank, EU, Philip Morris International, European Union, Unilever Locations: “, France, Montreal, Canada, Switzerland, ”

The capability, which Intel showed off during a software developer conference held in Silicon Valley, could let businesses and consumers test ChatGPT-style technologies without sending sensitive data off their own computer. It is made possible by new AI data-crunching features built into Intel's forthcoming "Meteor Lake" laptop chip and from new software tools the company is releasing. Intel said on Tuesday that it was building a new supercomputer that would be used by Stability AI, a startup that makes image-generating software. China's Alibaba Group Holdings (9988.HK) is using its newest central processors to serve up chatbot technology, Intel said. If Intel Chief Gelsinger can make AI "so that anyone can use it, that creates a much bigger market for chips – the chips that he makes," Hutcheson said.

Persons: Arnd, Taylor Swift, Pat Gelsinger, Gelsinger, Sachin Katti, Dan Hutcheson, TechInsights, Hutcheson, Stephen Nellis, Max Cherney, Peter Henderson, Lincoln, Josie Kao Organizations: Intel Corporation, REUTERS, JOSE, Intel, ., Taiwan Semiconductor Manufacturing, Nvidia, Stability, Alibaba, Holdings, Meta, Reuters, Thomson Locations: Davos, Switzerland, California, Silicon Valley, HK, San Francisco, San Jose , California

☆ Uber to appeal Brazil court's $205 million fine for irregular labor relations
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Uber Technologies Inc FollowSAO PAULO, Sept 14 (Reuters) - Uber (UBER.N) on Thursday said it rejected a ruling from a Brazilian labor court ordering the ride-hailing firm to pay 1 billion reais ($205 million) in fines for irregular working relations with the drivers on its app. Uber said it will appeal the decision and will not adopt any of the measures listed in the sentence before all applicable resources have been exhausted. "There is evident legal uncertainty," it said in a statement, citing legal precedents involving other companies such as delivery platforms Lalamove, Loggi and Ifood, and taxi app 99. ($1 = 4.8677 reais)Reporting by Andre Romani; Writing by Carolina Pulice; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Uber, Andre Romani, Carolina Pulice, Leslie Adler Organizations: Economic, REUTERS, Technologies, SAO PAULO, Thomson Locations: Davos, Switzerland, Sao Paulo

Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Sept 14 (Reuters) - Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients' cryptocurrencies and tokenised assets, Taurus said in a statement on Thursday. The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenised versions of traditional financial assets, a Deutsche Bank spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paper back in 2020. Maley said Deutsche Bank is proceeding "cautiously and in line with the spirit and the letter of the regulations governing this asset class."

Persons: Dado Ruvic, Taurus, Crypto, Paul Maley, Maley, Elizabeth Howcroft, Christina Fincher Organizations: Deutsche Bank, REUTERS, Taurus, Standard Chartered, BNY Mellon, Societe Generale, Deutsche, Thomson Locations: Swiss, U.S

☆ The EU should have ‘isolated’ the Ukraine war, Hungarian foreign minister says
▼ + stars: | 2023-09-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Hungary's Foreign Minister Peter Szijjarto. Thierry Monasse | Getty Images News | Getty ImagesThe European Union should have "isolated" the Ukraine war, Hungary's foreign minister told CNBC in an interview broadcast Wednesday. The "European Union should have isolated this war in Ukraine, but instead of that [the] European Union has globalized the war," Péter Szijjártó said from the Belt and Road Summit in Hong Kong. The European Union did not immediately respond to CNBC's request for comment. This is not the first time Hungary's foreign minister has condemned the EU's handling of Russia's full-scale invasion of Ukraine.

Persons: Peter Szijjarto, Thierry Monasse, Péter Szijjártó, Szijjártó, they're Organizations: Hungary's, Getty, CNBC, European, East, European Union, Russia, Economic, Initiative Locations: Ukraine, European Union, Hong Kong, Brussels, Russia, Russian, Davos, Europe, China

Flexport CEO Ryan Petersen takes part at the panel discussion "Trade: Now what?" Revolution connects more than 20 Flexport services including freight services, supply chain financing, customs paperwork and product storage, fulfillment and replenishment in a single place. Petersen credited Clark with creating the products for Flexport, but said the company lost focus on customers and expenses during his year as CEO. Flexport released several of Clark's hires but said Parisa Sadrzadeh, who helped build Amazon's delivery network, remains at Flexport overseeing small business products. Flexport bought Shopify's logistics business, including e-commerce fulfillment provider Deliverr, earlier this year.

Persons: Ryan Petersen, Arnd, Sellers, Petersen, Dave Clark, Clark, Flexport, Parisa Sadrzadeh, Shopify, Lisa Baertlein, Lincoln Organizations: REUTERS, Logistics, Walmart, HK, Thomson Locations: Davos, Switzerland, San Francisco, China, Flexport, Los Angeles

☆ Fact Check-WEF did not sign an order canceling US elections
▼ + stars: | 2023-09-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

The World Economic Forum (WEF) did not sign an order canceling U.S. elections nor does it have the power to do so, contrary to social media posts citing an opinion article by a WEF contributor discussing the idea of average citizens being elected instead of politicians. The article does not discuss handing elections over to elites, however, but instead the possible outcomes of randomly selected leaders and choosing average citizens to lead instead of politicians using a sort of lottery system. Regardless, the op-ed does not reflect WEF policy, as the People’s Voice article says. The People’s Voice did not immediately respond to Reuters request for comment. The World Economic Forum did not sign an order to cancel U.S. elections.

Persons: “, Klaus Schwab, Adam Grant, Grant, ”, ” Grant, ” Yann Zopf, Read Organizations: Economic, People’s, ”, “, Reuters Locations: Davos, Switzerland

☆ Fact Check-US cities did not sign a WEF treaty to ban meat, dairy and cars
▼ + stars: | 2023-09-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

No cities in the United States have signed a treaty banning meat, dairy and personal cars by 2030, as suggested in a circulating headline that falsely links a report on voluntary climate goals to the World Economic Forum, which is not affiliated with the report. While the analysis does not advocate banning private cars, it similarly calculates that reducing car ownership and increasing vehicle lifespans could cut emissions by 23% (pp 84-86). The C40 Cities group describes itself as a "global network of mayors of the world's leading cities that are united in action to confront the climate crisis” (www.c40.org/). The group is not affiliated with the WEF and receives no funding from the Forum, according to a list of C40 funders. The report by C40 Cities and collaborators cited in the article does not advocate a ban on meat, dairy and cars and is not a treaty, not legally binding and not affiliated with the WEF.

Persons: Yann Zopf, Read Organizations: Economic, Urban, University of Leeds, Arup, People’s, Reuters, C40 Locations: United States

☆ Uber increasingly considering buybacks as cash flow ramps up - CEO
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 7 (Reuters) - Uber Technologies (UBER.N) is considering buybacks and dividends to shareholders as its cash flow ramps up, CEO Dara Khosrowshahi said at an event on Thursday. "We are now entering a phase where we are increasingly thinking about returning the capital to shareholders, either through dividends or buybacks, more likely with buybacks," Khosrowshahi said at the Goldman Sachs Communacopia + Technology conference. Uber in August reported its first-ever operating profit of $326 million for the second quarter ended June. It had more than $1 billion in free cash flow in the period.

Persons: Arnd, Dara Khosrowshahi, Khosrowshahi, Goldman Sachs, Yuvraj Malik, Devika Organizations: Economic, REUTERS, Technologies, Technology, Uber, Thomson Locations: Davos, Switzerland, Bengaluru

☆ ChatGPT skills could help land your next job — but most people are still using AI just for fun, a new survey finds
▼ + stars: | 2023-09-07 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

ChatGPT skills can help you get hired — but most people are using AI just for fun, a new study says. (That compares to 17% of all age groups who said they're using AI for job searching.) Yet, it could be only a matter of time before generative AI users start taking the technology more seriously. AdvertisementAdvertisementEven big tech companies like Meta and Netflix are looking for AI skills in new hires and are paying salaries between $137,000 to $900,000 to attract generative AI talent. "It's somebody using AI that will take your job."

Persons: —, Zers, it's, ChatGPT, X, ResumeBuilder, Richard Baldwin Organizations: Service, Meta, Netflix Locations: Wall, Silicon, San Francisco, UK, Australia, India

On the overall list of the world’s Best Countries, Russia – where the survey was not fielded for the second year in a row – fell one spot to No. Among individuals in specific nations, the percentage of those agreeing this year that Russia is a “threat to the world” eclipsed 90% in several: Denmark, Finland, Japan and Poland. The only other countries with higher majorities agreeing that China is a global threat were Japan (91%) and South Korea (86%). Among respondents who do consider the U.S. a global threat, the highest share of agreement came from China at about 75%, while agreement eclipsed 60% among those from Turkey, Saudi Arabia, Indonesia and New Zealand. Still, the possibility of geoeconomic conflict is troubling, according to Ellissa Cavaciuti-Wishart, head of the Global Risks Initiative at the World Economic Forum.

Persons: ”, Russia ” –, “, Russia that’s, Vladimir Putin, Yevgeny Prigozhin, Joe Biden, Richard Wike, ” Wike, “ They're, Biden, Ellissa Cavaciuti, Wishart Organizations: News, U.S . News, NATO, Wagner, Russia, The New York Times, Wagner Group, U.S, Best, Pew Research Center, Pew, Global, Economic Locations: Russia, Ukraine, U.S, China, United States, Denmark, Finland, Japan, Poland, Russian, Belarus, Moscow, Australia, United Kingdom, Eastern Europe, South Korea, Turkey, Saudi Arabia, Indonesia, New Zealand

☆ Biocredits Could Help Save the Earth. But a Market Is Some Way Off.
▼ + stars: | 2023-09-05 | by ( Joshua Kirby | ) www.wsj.com time to read: +7 min

Biodiversity credits could be key to funding the conservation of the Earth’s ecosystems, but setting up a functioning market to buy and sell these payment tokens won’t be easy. The World Economic Forum is working on bringing together stakeholders, but admits that a scaled-up market is still some way in the future. It follows the lead of so-called voluntary carbon credits that allow firms to buy credits to offset their own emissions. Those global carbon credit markets are now worth some $2 billion, up from $200 million five years ago, according to environmental-finance data provider Ecosystem Marketplace. “I feel a bit of ‘carbon envy’ when I look at the carbon markets,” Cornell’s Tobin said, noting that biodiversity markets lack a universal metric that can apply to every project, unlike carbon markets where each credit represents one metric ton of carbon dioxide.

Persons: John Tobin, de la Puente, Tobin, don’t, Cornell’s Tobin, ” Tobin, JULIAN HABER, Zoe Balmforth, ‘, ’ ”, Balmforth, ”, ” Nestlé, Nestlé, biocredits, Markus Mueller, ” Mueller, Joshua Kirby, joshua.kirby@wsj.com Organizations: Economic, Paulson Institute, Cornell University, Credit Suisse, Companies, UN, REUTERS, Sustainable Business, Unilever, Deutsche Locations: Australia, Switzerland, biocredits

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

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