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LONDON (AP) — Prime Minister Rishi Sunak is preparing to water down some of Britain's environmental commitments on Wednesday, saying the country must fight climate change without penalizing workers and consumers. “For too many years, politicians in governments of all stripes have not been honest about costs and trade-offs," Sunak said. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero greenhouse gas emissions by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government's apparent change of plan.

Persons: Rishi Sunak, Sunak, backtrack, Prince William —, Doug Parr, ”, Parr, Mike Hawes, Lisa Brankin, Tara, Hargreaves Lansdown, ” Copp, Sadiq Khan, “ We’re, Suella Braverman, Alok Sharma Organizations: —, Conservative Party, United Nations General Assembly, Greenpeace, Society of Motor Manufacturers, Traders, Ford, ” Britain's, Labour, London’s Labour, BBC Locations: Britain, New York, London Uxbridge, Glasgow

☆ Bank stocks show more signs of life after a tumultuous year. Here's what's causing the run and why we’re optimistic on these financial names
▼ + stars: | 2023-09-19 | by ( Morgan Chittum | ) www.cnbc.com time to read: +9 min

Key Points Club names Wells Fargo and Morgan Stanley still have room to run higher. Morgan Stanley and Wells Fargo were up 6.2% and 5% in the past five days, respectively, as of Monday's close. WFC YTD mountain Wells Fargo YTD Wells Fargo doesn't stand to benefit quite as much as Morgan Stanley on a pickup in investment banking. Wells Fargo Chief Financial Officer Michael Santomassimo said the macroeconomic picture is "much better than people would have expected at this point." A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.

Persons: Morgan Stanley, Wells, Banks, SVB, Wells Fargo, haven't, Chris Kotowski, Oppenheimer, Kotowski, Morgan Stanley YTD, Dan Simkowitz, Simkowitz, Morgan, management's, Michael Santomassimo, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, JPMorgan, Goldman Sachs Organizations: Wall Street, Nasdaq, Venture, Arm Holdings, Wells, Silicon Valley Bank, Federal Reserve, Swiss, UBS, Credit Suisse, CNBC, Barclays Financial Conference, of Investment, Barclays, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: San Francisco, Sequoia, Silicon, Republic, Big, Wells Fargo, Wells

☆ Bank of America names 2 European chip stocks as its 'top picks' into year-end
▼ + stars: | 2023-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America named European chip stocks ASM International and STMicro as its "top picks" going into the end of the year. The Wall Street bank said it continues to favor ASMI with a 521 euro ($559) price target, which represents 25% upside potential from the current share price. Bank of America's $72 price target for STM points to a 62% upside potential over the next 12 months. STM ASMXF YTD line Bank of America analysts cited "resilient pricing and secular growth drivers in silicon carbide (SiC)" as reasons the stock should benefit into year-end. Bank of America cautioned that mixed signals on smartphone demand are an issue for the semiconductor sector more broadly.

Persons: Didier Scemama, Jean, Marc Chery Organizations: of America, ASM International, " Bank, America's, Bank of America, carmakers Locations: United States, Paris

☆ Meet the typical Hong Kong millennial: They're supporting their parents, can't afford to buy homes, and have zero interest in moving to mainland China
▼ + stars: | 2023-09-18 | by ( Faye Bradley | ) www.businessinsider.com time to read: +19 min

He earns 1.5 million Hong Kong dollars a year, or $191,000, including the base salary and three months' bonus — well above the average annual salary in Hong Kong. A protester on June 12, 2019 in Hong Kong when crowds gathered in central Hong Kong as the city braced for another mass rally. Anthony Kwan/Getty ImagesThe Hong Kong protests took place between 2019 and 2020, with many students and adults taking to the streets to fight back against the government's decision to introduce an extradition bill between Hong Kong and China. University of Hong Kong was ranked 31st and Chinese University of Hong Kong was 45, on the World University Rankings in 2023. Hong Kong millennials struggle to prioritize well-being, according to a survey run by British health insurance company Bupa.

Persons: Hong Kong's, Ken Ho, Hong Kongers, Ho, Kongers, —, hasn't, Summer Ng, Tau Kok, Ng, Hong, Kong's, Getty, Hong Kong millennials, it's, Aniqah Bhatnagar, Bhatnagar, Wilson Ho, Wilson Ho Wilson, Kai Tak, Anthony Kwan, Xu Huang, Huang, millennials, Gen Zs, Morgan McKinley, Zurine Lau, I'm, Yuen Long, Lau, Nick Shin Nick Shin, Tai Koo, They're Organizations: Service, University College London, Imperial College London, Fidelity Investments, Hong, HK, BBC, Property Management, Hong Kong, Hong Kong Baptist University, Deloitte Global, Statistics Department, University of Hong Kong, University of Hong, World, Family Planning Association, millennials, Hong Kong Free Press, CNN Locations: Hong Kong, Wall, Silicon, Kennedy Town, Kowloon Bay, Kwun Tong, Hong Kong's, United Kingdom, People's Republic of China, British, Asia, Hong, millennials, India, Kowloon, Kai, China, Singapore, Sydney, South America, ymgerman, South Korea, Hong Kong . Hong Kong, University of Hong Kong, New Territories, Tai

CNN —Protests erupted throughout Iran on Saturday to commemorate the one-year anniversary of the death of Mahsa Amini, the 22-year-old women who died in the custody of Iran’s morality police after being arrested for allegedly not wearing her headscarf properly. Video obtained by CNN showed demonstrations throughout multiple cities in Iran, including capital city Tehran, Mashad, Ahvaz, Lahijan, Arak, and the Kurdish city of Senandaj. Many of the protesters chanted, “Women, Life, Freedom” – a popular rallying cry used after nationwide protests erupted following Amini’s death last year. Some protesters also chanted death slogans against Supreme Leader Ali Khamenei. Mert Can Bukulmez/Middle East Images/AFP/Getty ImagesRallies commemorating Amini’s death were held in other cities around the world like Paris, Brussels and Berlin.

Persons: Mahsa Amini, Ali Khamenei, “, ”, Ellie Borhan, Allison Bailey, Amini’s, Amjad, Maziar Bahari, Amjad Amini, Bahari, IranWire, –, Safa Aeli, Amjad Amini’s, ” –, Amini, IRNA Organizations: CNN, Supreme, Authorities, Getty, Reuters, Helicopters, Human, Agency, Security, Social Locations: Iran, Tehran, Mashad, Ahvaz, Lahijan, Arak, Kurdish, Senandaj, Istanbul, Turkey, Paris, Brussels, Berlin, London, Saqqez, Kurdistan

The Capital One Venture X Business Card† is now more widely available to new applicants. And now you can get those same benefits and more on a version of the card tailored to small business owners: the Capital One Venture X Business Card†. What to know about the Capital One Venture X Business cardWhen Capital One first announced the Capital One Venture X Business Card† in February 2023, it said the card would only be available to customers through a Capital One Relationship Manager. The Capital One Venture X Business Card† has a $395 annual fee, the same as the personal Capital One Venture X Rewards Credit Card. Earn 150,000 miles with the sign-up bonusThe Capital One Venture X Business Card† is offering a welcome bonus of 150,000 bonus miles when you spend $30,000 in the first three months from account opening.

Persons: That's, you'd Organizations: Venture, Service, American Express, Chase Sapphire, Capital, One, eBay Locations: Wall, Silicon

☆ Russian tycoons haul over $50 billion of assets back home under pressure from sanctions and the Kremlin
▼ + stars: | 2023-09-14 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Russian billionaires are re-domiciling their assets under pressure from Western sanctions and the Kremlin's moves. Over $50 billion of Russian wealth has been repatriated since the invasion of Ukraine, per Bloomberg. On the flip side of the coin, Putin is making it harder for foreign firms to exit Russia. Europe has for decades been the preferred destination for offshore Russian companies to base their funds, but this tradition could soon come to an end as the costs of keeping capital abroad rise. A timeline of the hurdles Russia has imposed on companies looking to flee its heavily sanctioned economy can be found here.

Persons: Putin, Vladimir Putin, Alexei Kuznetsov Organizations: Bloomberg, Service, Kremlin Locations: Ukraine, Russia, Wall, Silicon, Europe, Cyprus, Malta, Moscow, Russian

Angel investors in the creator space range from industry experts to creators themselves. From Karat to Canopy, these angel investors are betting on creator-economy startups. Insider is highlighting 11 angel investors funding startups in the creator ecosystem. Typically high-net-worth individuals, angel investors can be crucial business partners for early-stage startups by providing capital, as well as mentorship and access to robust networks. For later-stage startups, big-name angel investors can help act as ambassadors and advisors.

Persons: Ludwig Ahgren, Nuseir Yassin Organizations: Karat, Nas Daily Locations: Nas

☆ Inside Infillion's 4-year plan to revive fallen adtech pioneer MediaMath back to a $100 million business
▼ + stars: | 2023-09-14 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

Adtech platform Infillion closed its $22 million deal to buy fallen adtech firm MediaMath out of bankruptcy on Friday. Now Infillion CEO Rob Emrich must make good on a business plan to get MediaMath back to earning $100 million in net revenue within 4 years. It's aiming to relaunch the MediaMath platform in early 2024. Zawadzki and his adtech focused venture capital firm Aperiam Ventures are providing Infillion with strategic advice on getting MediaMath back off the ground. Emrich previously told Insider that Infillion is preparing to take $30 million in operating losses on MediaMath over the next three years.

Persons: Rob Emrich, Infillion, Emrich, MediaMath, there's, Tom Triscari, Infillion isn't, Emirch, Joe Zawadzki, —, Zawadzki, Joe, Aperiam, Eric Franchi Organizations: Facebook, Sanofi, Mobile, Trade, Google, Leomade, Aperiam Ventures, TrueX, Disney Locations: Staples

A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren/File Phoo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - Canada's main stock exchange operator, TMX Group, is urging companies seeking to list on its platform to accelerate their plans, a top exchange official said, citing an uncertain economy and next year's U.S. presidential election as factors shrinking the window of opportunity. McPherson said TMX has advised companies seeking to list that the "window of opportunity" for initial public offerings, when it opens, might be a short window of three to six months rather than a year. "There is a pipeline out there that's waiting for the right time to enter the market," McPherson said. In Canada the central bank has raised key interest rate to 22-year high of 5% to fight stubborn inflation.

Persons: Chris Helgren, Dean McPherson, McPherson, TMX, Divya Rajagopal, David Gregorio Our Organizations: TMX Group, Toronto Stock Exchange, REUTERS, Rights, TMX, Mining, Reuters, U.S, TSX, Thomson Locations: Toronto , Ontario, Canada, Ukraine, Russia

☆ Ron DeSantis turns to Wall Street executives, top lawyer for fundraising boost to catch Trump
▼ + stars: | 2023-09-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +1 min

Republican U.S. presidential candidate and Florida Governor Ron DeSantis speaks during his "Never Back Down" tour ahead of his appearance at the Iowa State Fair, in Atlantic, Iowa, August 11, 2023. DeSantis will be hosted at a fundraising breakfast on Thursday in New York by at least seven wealthy executives, according to one invite. Burck has previously represented former Trump advisors while they faced legal hurdles, including Steve Bannon and former Secretary of State Mike Pompeo. DeSantis' fundraising trip to New York comes as he's lagging the former president in polls. Trump is favored in the Republican primary with 62% support, followed by DeSantis at 12%, according to a new Quinnipiac poll.

Persons: Ron DeSantis, Donald Trump, DeSantis, William Burck, David Blumberg, Steve Hornstein, Mark Gerson, Gerson, Burck, Steve Bannon, Mike Pompeo, Trump, Emil Henry Organizations: Republican U.S, Florida, Fair, Florida Gov, Wall, Republican, Blumberg Capital, Global Credit Advisers, Gerson Lehrman, Trump, Tiger Infrastructure Partners Locations: Iowa, Atlantic , Iowa, New York, Quinnipiac

☆ This play on the booming space economy could more than triple, says Roth MKM
▼ + stars: | 2023-09-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Redwire shares are set for takeoff, according to Roth MKM. Managing director Suji Desilva initiated research coverage of the space stock with a buy rating. The Jacksonville, Florida-based company is helping to enable integrated space missions, further space exploration and offer support for multinational missions. After multiple quarters of organic growth and EBITDA profitability, Desilva said Redwire should now see steady growth. Roth MKM's $10 share price target reflects an enterprise-value-to-sales multiple of 2.5 times, lower than peers' 3.0 times owing to Redwire's early-stage status.

Persons: Roth MKM, Suji Desilva, Desilva, Redwire, Roth, — CNBC's Michael Bloom Locations: Jacksonville , Florida

☆ Ford’s former CEO has a stark warning for both the UAW and automakers
▼ + stars: | 2023-09-13 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

“The automakers can’t plead poverty,” Fields told CNN on Wednesday, noting the industry’s recent string of profitable years. [Automakers’] CEO pay went up 40%. “But I do think he’s quite misplaced in that if there’s a work stoppage… there will be lots of people hurt,” the former Ford CEO said. However, economists say a UAW strike is unlikely to cause a recession, though it would do damage to local economies and parts suppliers. You can’t fault them for trying to deal with inflation that is hurting their families,” the former Chrysler CEO said.

Persons: Mark Fields, ” Fields, “, ”, Jim Farley, Fields, CNN’s Vanessa Yurkevich, “ We’re, ” Farley, Shawn Fain, ’, ” Fain, Jake Tapper, Bob Nardelli, ” Nardelli, Goldman Sachs, “ It’s, Fain, Nardelli, Ron Gettelfinger, Ford, CNN’s Chris Isidore Organizations: New York CNN Business —, Detroit, Ford, GM, CNN, Chrysler, United Auto Workers, UAW, UPS, American Airlines, West Coast, TPG Capital, Anderson Economic Group, Big Locations: Mexico, Chihuahua

☆ AI chip startup Enfabrica raises $125 mln, with backing from Nvidia
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. Chips from Nvidia (NVDA.O), the world's most valuable semiconductor firm, are at the heart of that transition. Enfabrica has designed a network chip that aims to connect the different pieces of a data center together in new ways to solve that problem. The Enfabrica chip creates a network that looks like a hub and spokes, allowing the Nvidia GPUs doing the data crunching to draw data from multiple different places without hitting speed bumps. Enfabrica added new backers that included IAG Capital Partners, Liberty Global Ventures, Valor Equity Partners, Infinitum Partners and Alumni Ventures.

Persons: Dado Ruvic, Enfabrica, Rochan Sankar, Sankar, Gavin Baker, Stephen Nellis, Stephen Coates Organizations: REUTERS, Nvidia, Broadcom, Google, Atreides Management, Fidelity Investments, IAG Capital Partners, Liberty Global Ventures, Valor Equity Partners, Ventures, Hill Ventures, Thomson Locations: San Francisco

☆ Wall Street bosses see deal drought easing as IPOs spur optimism
▼ + stars: | 2023-09-12 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

[1/2] Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. Goldman Sachs (GS.N) CEO David Solomon told Reuters in an interview on Tuesday that the optimism that the U.S. economy will avoid a recession is prompting capital markets to reopen. "The environment is definitely better," said Solomon, who noted that Goldman was involved in most of the share offerings. Venkatakrishnan told investors at a conference in New York. The dealmaking slowdown had prompted thousands of layoffs at investment banks, including at Morgan Stanley (MS.N), Goldman Sachs and Citigroup (C.N) in recent months.

Persons: Goldman Sachs, David Solomon, Brendan McDermid, Solomon, Goldman, Instacart, we'll, C.S, Venkatakrishnan, Morgan Stanley's, Dan Simkowitz, BofA, Alastair Borthwick, Morgan Stanley, Tatiana Bautzer, Lananh Nguyen, Mark Porter, Jamie Freed Organizations: Goldman, REUTERS, Reuters, Arm Holdings, underwriters, Barclays, Bank of America, Citigroup, Thomson Locations: New York City, U.S, British, New York

☆ CNBC’s No. 1 financial advisor shares the secret for navigating a 'highly unusual' market
▼ + stars: | 2023-09-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Mason King Courtesy: Mason KingMore than a year of recessionary forecasts have created "a highly unusual market," said Mason King, a principal of Luther King Capital Management in Fort Worth, Texas, which ranked No. 1 on CNBC's list of the top 100 financial advisors in the U.S. for 2023. Although some experts have more recently backed off those earlier predictions of an impending recession and embraced the idea of soft landing, "that's been the most consensus we've seen," he added. "Exactly how much market activity has already been drained and how much is still ahead of us, nobody knows," King said. To navigate the ups and downs, King says the firm maintains a longer time horizon, just like the companies they invest in.

Persons: Mason King, Luther, — J, Luther King Jr, —, that's, King Organizations: Luther King Capital Management, Federal, Fed, Apple, Microsoft, Nvidia, Tesla Locations: Fort Worth , Texas, U.S, Trimble, Albemarle

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. In the past five months the improvement has been tremendous," TSMC Chairman Mark Liu said of the Arizona project last week. The $40 billion investment in Arizona allows TSMC to add capacity outside Taiwan, where it faces constraints on land, power, water and labour. "A lot of machines cannot be shut down because it costs TSMC to recalibrate on rebooting," said a chip industry executive. While many equipment and materials makers already have global operations, to meet its exacting standards TSMC has also brought suppliers to Japan from Taiwan, the sources said.

Persons: Ann Wang, TSMC, Mark Liu, Lucy Chen, Brady Wang, Sam Nussey, Fanny Potkin, Sarah Wu, Miho Uranaka, Jamie Freed Organizations: Taiwan Semiconductor Manufacturing, REUTERS, TSMC, Reuters, Isaiah Research, Sony, Ministry, Economy, Trade, Industry, Thomson Locations: Hsinchu, Taiwan, Japan, TOKYO, SINGAPORE, TAIPEI, Arizona, Kyushu, U.S, Germany, TSMC

☆ Customer data, transactions, financials: Still reeling from the market implosion, VCs are demanding to see numbers to back up founder pitches
▼ + stars: | 2023-09-12 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +7 min

Founders say VCs are increasingly demanding detailed data and visibility into their startups before considering a deal. But some in the industry say that for early stage startups, a reliance on data can create an illusion of certainty. Half a dozen early stage startup founders tell Insider that gone are the days when a good idea and flashy pitch deck were enough to close a deal. He described it as looking for "the golden playbook for investing in early stage startups." For his part Hasan says that when speaking to potential investors, he views an obsession with financials and data as a red flag.

Persons: Miguel Guerrero, Guerrero, He's, Fahad Hassan, Hasan, Keyvan Firouzi, Firouzi, Jason Calacanis, it's, Dorothee Grant, Avante Price, James Cham, Cham, Hassan Organizations: IRL, Activant, Stanford, Carta, Investors, Bloomberg Beta Locations: New York

☆ Metro Bank shares dip as mortgage risk model change drags
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Sept 12 (Reuters) - Britain's Metro Bank (MTRO.L) said on Tuesday that the Bank of England's Prudential Regulation Authority (PRA) would likely not approve its application to use internal credit risk models in its residential mortgages business this year. Shares in the lender fell 7% in early trading as stock-holders reacted to the news. Without permission to use its own risk models, Metro Bank remains subject to higher capital requirements set by the regulator, which have weighed on returns for its investors. "The board retains conviction in the merits of Metro Bank's customer-centric model and strongly believes that there is a significant opportunity set that the company can capitalise on, subject to renewed balance sheet strength," Metro said. "Larger scale is needed to absorb the high, branch-centric expense base which can be achieved only if current capital constraints ... are resolved," Peel Hunt said.

Persons: Peel Hunt, Radhika Anilkumar, Sinead Cruise, Savio D'Souza, Rashmi Aich, Iain Withers Organizations: Britain's Metro Bank, Bank of England's Prudential, Authority, Metro Bank, Metro, Peel, Thomson Locations: Bengaluru, London

☆ The power grid needs repairs. These companies stand to benefit
▼ + stars: | 2023-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

A budding ecosystem of companies stand to gain as businesses and policymakers grow increasingly focused on improving the electric grid. President Joe Biden committed $95 million to shore up Hawaii's electric grid following the tragedy. Beyond that, Kalton said it's also just good business sense: Utility companies don't want their grids to go down and leave unhappy customers without power. And he said utility companies can grow earnings power by spending capital and increasing their base rate. An ecosystem of companies Beyond physically changing the grid, some companies are making progress elsewhere, said Chanin, whose ETF is up about 18% this year.

Persons: Neil Kalton, Joe Biden, It's, —, Said, Kalton, it's, Steven Fisher, doesn't, Fisher, Andrew Chanin, Chanin, Eaton, Michael Bloom Organizations: NBC News, Electric, UBS, Primoris Services, LSEG, Nvidia Locations: Maui, U.S, Wells Fargo, California , Colorado, Oregon, California, Florida, Texas

☆ Why this top banker left Goldman Sachs to help fund women who are changing healthcare
▼ + stars: | 2023-09-08 | by ( Blake Dodge | ) www.businessinsider.com time to read: +8 min

At Leerink Partners, Sasha Kelemen runs an investment-banking team unlike any other on Wall Street. For her work, Insider named Kelemen to our list of 30 leaders under 40 transforming healthcare. After graduating from business school at the University of Virginia in 2017, she joined the healthcare team at Goldman Sachs. Sasha Kelemen. Sasha Kelemen with her daughters Olivia and Zoe.

Persons: Sasha Kelemen, Goldman Sachs, Kelemen, Goldman, she'd, scrappy, Chris, who'd, Barry Blake, Blake, Wall, she's, Sasha Kelemen's, who's, they're, Leerink, it's, haven't, Olivia, Zoe, Jill Angelo, wasn't Organizations: Leerink Partners, Morning, University of Virginia, Boston College, Goldman, Wall, Investment, OB Locations: Venezuela, Florida, Connecticut, SVB, New York City, women's

The deal is seen as a bet on the future of natural gas in a regulated market even as energy companies and consumers are transitioning to a greener future by phasing out fossil fuels. But some analysts were surprised at the timing, the scale and impact such a deal would have on the company's already leveraged balance sheet. Enbridge struck the deal just over a month after CEO Greg Ebel told analysts the company saw 'tuck-in' acquisition opportunities 'across the board'. By late morning, Enbridge shares were down 5.5% at C$45.50, while the benchmark Canadian share index was off 0.5%. Enbridge is selling new shares at a discount of 7.2% to its Tuesday close to part-fund the transaction.

Persons: Chris Helgren, Moody's, Morningstar, Stephen Ellis, Ellis, Enbridge, Greg Ebel, Wells, Mrinalika Roy, Denny Thomas, Anil D'Silva, Alexandra Hudson Organizations: REUTERS, Enbridge, Dominion Energy, East Ohio Gas, Public Service Co, Management, TC Energy, Alexandra Hudson Our, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, North Carolina, North America, company's, Bengaluru

The logo of Calgary-based Enbridge, one of North America's largest energy infrastructure companies, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Analysts, however, were surprised at the timing, the scale and impact such a deal would have on the company's already leveraged balance sheet. "I don't see how you can keep piling more issuance - debt and equity - on this company at these rates. Enbridge shares provisionally closed down 5.9% at C$45.31, while the benchmark Canadian share index was off 0.9%. "While Enbridge paid a reasonable price, high leverage and funding gap could act as overhang," Wells Fargo analysts said in a note.

Persons: Chris Helgren, Ryan Bushell, Enbridge, Greg Ebel, Morningstar, Stephen Ellis, Ellis, Wells, Alan Armstrong, Mrinalika Roy, Nia Williams, Denny Thomas, Anil D'Silva, Alexandra Hudson, Devika, Marguerita Choy Organizations: REUTERS, Dominion Energy, Ohio Gas, Public Service Co, Newhaven Asset Management, Management, TC Energy, Williams Companies, Barclays CEO Energy, Power Conference, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, North Carolina, North America, Newhaven, Enbridge, New York, Bengaluru

Capital One has revealed its newest airport lounge, an 8,500-square-foot outpost at Washington-Dulles International Airport (IAD). Read Insider's guide to the best credit cards with free airport lounge access. The Capital One Lounge at Dulles (IAD) is the issuer's highly anticipated second location, expanding the issuer's reach to the Washington D.C. metropolitan area. It's the first credit card-affiliated lounge at Dulles, and the space will likely prove popular for travelers departing from the airport. Premium perks including airport lounge access and statement creditsCheck mark icon A check mark.

Persons: Eero Saarinen, Dulles, H, Will Patton, Chris Dong, it's, Chase Sapphire, Amex, Chase Organizations: Dulles International, Travelers, Capital, Service, Fort Worth International, Dulles, Washington D.C, Capital One, One, Premier, Rhino Brewing Co, Michelin, Acorn, Dulles Airport, Venture, Business, LaGuardia, Reagan Washington National Airport Locations: Washington, Wall, Silicon, Dallas, DFW, Dulles, Virginia, Central Virginia, Denver, Las

☆ UBS CEO insists bank not too big after Credit Suisse takeover
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. UBS completed its emergency takeover of Credit Suisse in June, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet. The executive, who returned to UBS in April to steer the Credit Suisse takeover, was also critical of Credit Suisse. "Credit Suisse went under because it had a business model for years which was simply not right. "I don't think it will be a problem to integrate Credit Suisse," he said.

Persons: Denis Balibouse, Sergio Ermotti, Ermotti, Oliver Hirt, John Revill, Emelia Sithole Organizations: Credit Suisse, UBS, REUTERS, UBS Group, Suisse, Thomson Locations: Geneva, Switzerland, ZUG, Zug, Swiss

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