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☆ Inceptio sees big jump in China sales of driver-assist truck tech, plans overseas foray
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A Dongfeng truck with autonomous driving system developed by Inceptio is showcased at Shanghai Centre in Shanghai, China August 29, 2023. REUTERS/Zoey Zhang Acquire Licensing RightsSHANGHAI, Aug 29 (Reuters) - Chinese startup Inceptio expects the number of trucks in China using its driver-assist technology will quadruple by mid-2024 from around 600 currently, and also plans to begin sales overseas next year. "This is a new 'blue ocean' market," he said, using a phrase that describes an underdeveloped market with few competitors. Over the next three to five years, Inceptio is looking at offering services to help manage truck fleets, Ma said. Inceptio eventually hopes that trucks will be eventually allowed to go fully autonomous, enabling it to build a robotruck fleet.

Persons: Zoey Zhang, Inceptio, Julian Ma, China's, Ma, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Inceptio, Shanghai, REUTERS, Rights, Dongfeng Automobile, Nestle, Budweiser, Deppon Express, Reuters, East, Boston Consulting, Thomson Locations: Shanghai, China, U.S, CATL, Sequoia China, East Asia, East, Japan, Inceptio

☆ 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

☆ The death toll rises to 80 in Maui wildfires as survivors begin returning to communities in ruins
▼ + stars: | 2023-08-12 | by ( ) www.cnbc.com time to read: +7 min

Maui residents John Rey Serrano and Lexie Lara look from a road above Lahaina Town in the aftermath of a wildfire in Lahaina, western Maui, Hawaii on August 11, 2023. Maui County raised the number of confirmed deaths to 80 in a 9 p.m. statement Friday. Cadaver-sniffing dogs were deployed to search for the dead, Maui County Mayor Richard Bissen Jr. said. Maui County's hazard mitigation plan updated in 2020 identified Lahaina and other West Maui communities as having frequent wildfires and several buildings at risk. The report also noted West Maui had the island's second-highest rate of households without a vehicle and the highest rate of non-English speakers.

Persons: John Rey Serrano, Lexie Lara, Anthony Garcia, Garcia, I'm, Josh Green, Green, Richard Bissen Jr, Anne Lopez, Lopez, Lynn Robinson, Kyle Scharnhorst, Gilles Gerling, Karen Clark, Bobby Lee, Andrew Whelton, Lana Vierra, Riley Curran, Curran, I've Organizations: roosters, Gov, Hawaii News, Associated Press, Iniki, Karen Clark & Company, Hawaii Firefighters Association, Purdue University Locations: Maui, Lahaina, Hawaii, Maui County, Kaanapali, West Maui, U.S, California, Paradise, Molokai, Kula

☆ Unprecedented ocean heat is changing the way sharks eat, breathe and behave
▼ + stars: | 2023-07-27 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +6 min

“An increase in metabolic rates means that sharks are using more energy to just be alive and swim,” Di Santo told CNN. Some fish species are not able to find new, suitable habitats, which causes a decline in their population. “It is important to consider that sharks are very much tuned in the behavior of their prey,” Di Santo said. “These small-scale movements can be just as crucial for their survival as poleward relocations,” Di Santo said. Zidowitz said progress on conservation to protect shark species is “too slow to keep pace” with the numerous threats they face, yet she remains hopeful.

Persons: Heike, Michele Spatari, Valentina Di Santo, biomechanist, Di, ” Di Santo, Di Santo, ”, Joseph Prezioso, Zidowitz, ” Zidowitz Organizations: CNN — Sharks, International Union for Conservation of, World Wildlife, CNN, ”, Cape, Getty, National Oceanic, Atmospheric Administration Locations: Germany, Umkomaas, Durban, South Africa, AFP, Cape Cod , Massachusetts

☆ Microsoft adds $154 billion in market value after it announces $30 per month AI subscription
▼ + stars: | 2023-07-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Microsoft stock surged as much as 6% on Tuesday after the company unveiled an AI subscription for its Office 365 platform. The software giant will charge $30 per month per user to have AI capabilities integrated into its Microsoft Office platform. At its peak on Tuesday, Microsoft added $154 billion to its market value, which is bigger than Morgan Stanley. Investors cheered the move and the company's apparent pricing power, with Microsoft stock adding as much as $154 billion to its market valuation at its peak on Tuesday. Microsoft stock hit a record high of $366.78 in Tuesday trades and was on track to close at its highest level ever.

Persons: Morgan Stanley, Yusuf Mehdi, Dan Ives, Ives Organizations: Microsoft, Service, Intel, Honeywell, Bing Locations: Wall, Silicon, Copilot, OpenAI

☆ Here's how much Americans in their 40s have in their 401(k)s
▼ + stars: | 2023-07-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

People in their 40s may not be saving enough for retirement. Ideally, you should aim to have around three times your pre-tax salary saved for retirement by the time you enter your 40s in order to maintain your current lifestyle in retirement, according to Fidelity Investments. This means if you're in your 40s and earn $60,000 annually, you should aim to have around $180,000 already saved for retirement, for example. Median weekly earnings for Americans ages 45 to 54 is $1,239 or about $59,472 annually. Here are two retirement saving tips to keep in mind.

Persons: haven't, Marguerita Cheng, Cheng Organizations: Fidelity Investments, CNBC, Bureau of Labor Statistics, Blue

☆ Here's how much Americans in their 30s have in their 401(k)s
▼ + stars: | 2023-06-18 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Instead, keep this key number in mind: your retirement savings rate, which is the percentage of your income you're contributing to your 401(k). As a younger worker, time is on your side when it comes to saving for retirement, Cheng says. If you're in your 30s, your income is likely to increase as you get older, which can allow you to make larger contributions to your retirement savings over time. 1 best piece of advice for regular investors, do's and don'ts and three key investing principles into a clear and simple guidebook. CHECK OUT: Here’s how much Americans have in their 401(k)s at every age

Persons: Marguerita Cheng, Cheng, Warren Buffett Organizations: Fidelity Investments, CNBC, Blue, Wealth, Fidelity

The interest rate on your savings account is influenced by what the Federal Reserve does. When the Federal Reserve raises rates, the interest rate on your savings account tends to go up, too. The interest rate on a high-yield savings account fluctuates and isn't fixed. This means if you open an high-yield savings account, its normal to see the interest rate go up or down over time. If the Federal Reserve lowers interest rates, savings interest rates will usually drop.

Persons: —, Marguerita Cheng, Cheng, they've, you've Organizations: Federal, Federal Reserve, Service, CFP, RICP, Blue, Global Wealth, FDIC

☆ The Great Pacific Garbage Patch is now so huge and permanent that a coastal ecosystem is thriving on it
▼ + stars: | 2023-04-17 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +6 min

Haram and her colleagues examined 105 items of plastic fished out of the Great Pacific Garbage Patch between November 2018 and January 2019. Courtesy Linsey Haram/Smithsonian InstitutionCoastal aggregating anemones found on a black floating plastic fragment collected in the garbage patch. Oceans of plasticThe Great Pacific Garbage Patch, which is twice the size of Texas, is the largest accumulation of ocean plastic in the world. If you look up at night, you see all those white dots, that’s essentially what you see in the garbage patch. A bag of plastics and debris collected in the Great Pacific Garbage Patch is unloaded in Sausalito, California in July 2022.

☆ The Next Frontier in Farming? The Ocean.
▼ + stars: | 2023-03-15 | by ( Somini Sengupta | ) www.nytimes.com time to read: +10 min

For centuries, it’s been treasured in kitchens in Asia and neglected almost everywhere else: Those glistening ribbons of seaweed that bend and bloom in cold ocean waves. Far beyond South Korea, new farms have cropped up in Maine, the Faroe Islands, Australia, even the North Sea. But even as its champions see it as a miracle crop for a hotter planet, others worry that the zeal to farm the ocean could replicate some of the same damages of farming on land. “Seaweed is not going to replace all plastic, but seaweed combined with other things can tackle single use plastic,” he said. Seaweed farms are a far cry from the rows of corn and wheat that make up monoculture farming on land.

☆ After SVB and Signature failures, what small businesses should look for when choosing a bank
▼ + stars: | 2023-03-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. The same holds true for customers of Signature Bank, which was shut down by regulators Sunday. Yet they now need to find another place to keep their money — and they and other small firms may fear a similar calamity elsewhere. For starters, the message is that when a bank fails, customer deposits will be covered for an unlimited amount, Boneparth said. FDIC coverage may be enough for some firmsAdditionally, for some small businesses, the FDIC coverage at their bank should be sufficient.

☆ Employers can use this retirement perk as a ‘stepping stone’ to a 401(k), says advisor
▼ + stars: | 2023-03-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Visualspace | E+ | Getty ImagesSmall business owners today may feel they're getting pulled in two directions: stuck between wanting to offer a retirement benefit to their workers but feeling unable to afford costs associated with a 401(k) plan. But entrepreneurs scared by the affordability of maintaining a 401(k) plan can instead consider an alternative workplace retirement plan known as a SIMPLE IRA, said Marguerita Cheng, a certified financial planner based in Gaithersburg, Maryland. The plans — formally known as a Savings Incentive Match Plan for Employees — don't carry the startup and operating costs of a "conventional" retirement plan, according to the IRS. watch nowEmployers are more pressured these days to offer a retirement benefit to stay competitive in a hot labor market, Cheng said. SIMPLE IRAs are also "a great stepping stone" to a 401(k) in the future, if an employer wants to make their offering more "robust," she said.

[1/5] An employee prepares online grocery orders in the storage area of Czech online grocer Rohlik Group in Prague, Czech Republic February 1, 2023. HUGE GROWTH POTENTIAL Rohlik, founded in 2014, leads the Czech market by mainly targeting customers in big cities through its string of distribution warehouses. "Competition is still mainly driven by stationary retail but a small number of online grocery players are gearing up in each market to become leading e-grocery platforms." KOSIK TURNS EASTAs Rohlik bets on Germany, Kosik is looking eastward, entering the Slovak market and expanding in Bulgaria. CEO Ivan Utesil said the company would also seek to cut into Czech market share by capitalising on its tie-in with German wholesaler Metro (B4B.DE) in some regional areas.

See Insider's picks for the best private student loans >>What is student loan interest? See Insider's picks for the best tax software >>"Student loan interest is tax deductible," says Leslie Tayne, a financial attorney who specializes in student loan debt. Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. APR Variable: 5.09% - 8.99%, Fixed: 4.49% - 8.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 3.99% - 9.24% with AutoPay, Fixed: 4.39% - 9.24% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. See Insider's picks for the best student loans without a cosigner >>Will my student loan interest rate change?

☆ JPMorgan says little-known West Virginia fintech is positioned as 'bank of choice' for online gaming
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

JPMorgan says a little-known microcap financial holding company that began as a West Virginia community bank but is transitioning into a fintech is poised to become "the Silicon Valley Bank" of the online gaming industry. MVB Financial, with a market value of a little more than $330 million, is headquartered in Fairmont, West Virginia, population 18,000, about 70 miles south of Pittsburgh. Yet MVB, headed by CEO Larry Mazza, currently holds an 85% market share in banking for online gaming. "Over time, we see MVB as becoming 'the Silicon Valley Bank' of the online gaming industry," JPMorgan wrote. What's more, MVB Bank also provides banking services to support Credit Karma Money Spend and Save accounts.

☆ Venture capital for Black entrepreneurs plummeted 45% in 2022, data shows
▼ + stars: | 2023-02-02 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +8 min

Dixon is one of many Black entrepreneurs who struggled to secure funding for their businesses and relied on venture capital financing earmarked for diverse founders. While Dixon and many others have ultimately succeeded, Black-led businesses and Black founders have historically faced disparities in securing VC funding. Overall, Black entrepreneurs typically receive less than 2% of all VC dollars each year while companies led by Black women receive less than 1%, according to data from Crunchbase. That drop is the largest year-over-year decrease Black entrepreneurs have seen over the past decade. "Venture capital is a very privileged and exclusive industry, and has always been that way.

A trading book includes loans banks have earmarked for sale and are thus marked-to-market, while a banking book is where a lender holds loans and other assets not intended for disposal. This implies a heavy discount of 15 pence on the pound if banks sell the loans at that level. Banks make money also by charging the borrower a fee to provide loans, then sell the loans to third party investors. Reuters could not ascertain the exact size of the hit on the loans sold. On the flipside, loans sold by banks can generate attractive gains for buyers.

☆ It's time to boost 401(k) contributions for 2023: 'You're smart to jump on this,' says advisor
▼ + stars: | 2023-01-03 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're eager to boost your retirement savings, there's good news for 2023: higher 401(k) contribution limits. And now is the time to adjust your deferrals, financial experts say. You can funnel $22,500 into your 401(k), 403(b) and other such plans for 2023, up from the $20,500 limit in 2022. "Most people set [401(k) contributions] once and never look back." If you aim to max out 401(k) contributions for 2023, it may pay off to start early, as spreading it out may be easier than contributing more later in the year.

☆ 3 tips for when your team is stuck and needs to think outside the box
▼ + stars: | 2022-12-28 | by ( Cari Jacobs | ) www.businessinsider.com time to read: +9 min

Using mindfulness and noticing when your team is stuck can help activate expansive thinking. Expansive thinking encourages us to be more creativePolarity-driven thinking keeps us stuck. The simple theory of the Drama Triangle is that each of us plays two of three archetypes that provoke conflict, problems, and anxiety. Encourage them to let go of their "fixed" mindset and ask what archetype they might be playing in the drama triangle. Do it with expansive thinking to guide your way and move out of the contraction most of us live with daily.

☆ 3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end
▼ + stars: | 2022-11-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

"It's always exciting to reap the rewards of hard work by getting a year-end bonus," said Lisa Greene-Lewis, a CPA and tax expert with TurboTax. However, by receiving the money in January, you may reduce 2022 income without waiting too long for the funds, assuming your company allows it, she said. Prepay future medical expenses for a deductionIt's not easy to claim the medical expense deduction. For 2022, there's a tax break for unreimbursed medical expenses that exceed 7.5% of your adjusted gross income. Of course, you'll need to project your adjusted gross income, total itemized deductions and tally your previous 2022 medical expenses first.

Instead, it may be a good time to make adjustments to your portfolio or take some tax losses. For those with a long enough time horizon of five- or 10 years, or more, the sell-off could be an opportunity to buy the right stocks at a discount. Finding shelter For those worried about risk, stability can be found in the Treasury market. You might consider putting some of your holdings in Treasury bills, Treasury notes or Series I savings bonds. You can also get exposure to the Treasury market without owning the actual securities through a mutual fund or exchange-traded fund.

With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we're heading for a prolonged economic downturn. "I think we have to be defensive," said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. While it's impossible to predict exactly what will happen, financial advisors are preparing clients for whatever may be on the horizon. But Johnson has already warned clients about the possibility of more volatility, pointing to the Fed's rate hikes. There may be 'good opportunities'While Baker doesn't suggest major changes, there may be "good opportunities" — such as real estate — amid relatively high inflation due to yield and appreciation, he said.

Prepaid debit cards or gift cards are easy ways to send money to someone without a bank account. You can also easily send money online through a virtual wallet or payment app. Prepaid debit cards serve as common tool for sending money since they are easily activated and work similarly to regular debit cards. If you are looking for a more traditional way of sending money, Cheng notes you can get a money order instead. If you'd also like to help an unbanked person find a bank account, here are a few resources you may share:

Persons: Marguerita Cheng, Cheng, Venmo, you'll, You'll, you'd Organizations: Service, FDIC, CFP, Blue, PayPal, Venmo, Western, Apple, Samsung Locations: Wall, Silicon, Western Union

If you don't have a lot of experience with banking, here are four tips you should know before spending another penny. Marguerita Cheng, a financial planner at Blue Ocean Global Wealth, says opening up a second bank account may be a good option. "Even when you're in school, if it is appropriate for you to open another account, you're not doing anything to disrespect your parents. When you're deciding which bank account to open, Cheng advises Gen Z to be wary of CDs. You'll want to pay attention to monthly maintenance fees, overdraft fees, and out-of-network transaction fees, which are some of the most common charges.

Persons: Gen, you've, Marguerita Cheng, Cheng, Gen Z Organizations: Service Locations: Wall, Silicon

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