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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Nvidia's (NVDA.O) gain pushed the information technology index (.SPLRCT) higher, making it the strongest of 11 S&P 500 sector indexes. Other megacap growth stocks including Alphabet (GOOGL.O), and Amazon.com (AMZN.O) also posted gains, as did chipmaker Micron Technology (MU.O). According to preliminary data, the S&P 500 (.SPX) gained 26.28 points, or 0.59%, to end at 4,490.33 points, while the Nasdaq Composite (.IXIC) gained 143.81 points, or 1.05%, to 13,788.66. The Nasdaq and S&P 500 fell last week after hotter-than-expected U.S. producer prices data fanned concerns that the Federal Reserve could keep U.S. interest rates higher for longer.

Persons: Brendan McDermid, Tesla, Morgan Stanley, Jay Hatfield, Goldman Sachs, Alex Chriss, Amruta Khandekar, Saeed Azhar, Arun Koyyur, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, China AMC, Nasdaq, Nvidia, Micron Technology, Dow Jones, Infrastructure Capital Advisors, NVIDIA, Federal Reserve, Walmart, Traders, Fed, PayPal Holdings, Intuit, AMC Entertainment, Hawaiian Electric Industries, Thomson Locations: New York City, U.S, China, New York, Delaware, Maui, Lahaina, Bengaluru

☆ Hawaiian Electric Industries shares plunge amid deadly Maui wildfire scrutiny
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +4 min

Hawaiian Electric was last trading down 35% at $20.90. Hawaiian Electric did not immediately respond to a request for comment on Monday. Hawaiian Electric Vice President Jim Kelly told CNN Sunday that the company does not comment on pending litigation. He added that Hawaiian Electric does not have a formal shut-off program and precautionary shut-offs have to be arranged with first responders, CNN reported. Morningstar strategist Andrew Bischof said he was lowering his fair value estimate for Hawaiian Electric Industries to $23 per share from $34 due to the reports.

Persons: Mike Blake, Thomas Hayes, Jim Kelly, ” Kelly, Wells, Morningstar, Andrew Bischof, Wells Fargo, Shreyashi Sanyal, Clark Mindock, Shristi, Brendan O'Brien, Michelle Price, Lisa Shumaker, Alexia Garamfalvi Organizations: REUTERS, Hawaiian Electric Industries, Electric, Great, Washington Post, Maui Electric, National Weather Service, Hawaiian Electric, CNN Sunday, CNN, Morningstar, Thomson Locations: Kula, Maui, Hawaii, U.S, Lahaina, Great Hill, New York, Bengaluru, Chibuike

☆ Hawaiian Electric Industries shares plunge 40% amid deadly Maui wildfire scrutiny
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Hawaiian Electric Industries did not immediately respond to a request for comment. A Washington Post report over the weekend raised questions over whether Hawaiian Electric, which owns utility Maui Electric, did not take sufficient safety measures amid warnings days before the fires broke out that wind gusts would trigger dangerous fire conditions. A class action lawsuit has also been filed against Hawaiian Electric claiming a downed power line on Maui caused the fire, NBC news and other outlets reported. The scrutiny caused Wells Fargo (WFC.N) and Morningstar to cut their price targets for Hawaiian Electric. Morningstar strategist Andrew Bischof said he was lowering his fair value estimate for Hawaiian Electric Industries to $23 per share from $34 due to the reports.

Persons: Mike Blake, Wells, Morningstar, Andrew Bischof, Wells Fargo, Shreyashi Sanyal, Michelle Price, Lisa Shumaker Organizations: REUTERS, Hawaiian Electric Industries, Washington Post, Maui Electric, Hawaiian Electric, NBC, Reuters, Morningstar, Thomson Locations: Kula, Maui, Hawaii, U.S, Lahaina, Bengaluru

☆ Live updates: Maui wildfires death toll rises, Lahaina recovery begins
▼ + stars: | 2023-08-14 | by ( Aditi Sangal | Mike Hayes | ) edition.cnn.com time to read: +3 min

Struggle to house displaced residents and tourists: The devastation has displaced thousands of people, FEMA Administrator Deanne Criswell estimated. As of Friday night, a total of 1,418 people were at emergency evacuation shelters, according to Maui County officials. Teams are working to get displaced Lahaina residents into temporary homes, with more than 500 hotel rooms already obtained with government subsidies, Green said Sunday. Hawaii's main electric provider sued: A lawsuit claims electrified power lines blown over by high winds helped to cause the destructive Lahaina wildfire. Mayor Bissen acknowledged Thursday that power lines that were “still energized” had fallen on the roads, but the new lawsuit does not state exactly how the power lines allegedly caused the wildfire.

Persons: Yuki Iwamura, John Pelletier, Josh Green, Deanne Criswell, Green, ” Green, weren’t, Bissen, ” Organizations: Getty, Maui Police, Gov, FEMA, Hawaiian Electric Industries Locations: Lahaina , Hawaii, AFP, Maui, Maui County, Lahaina

☆ Hawaiian Electric stock plunges 40% after lawsuit alleges it failed to shut power off ahead of the Maui wildfires
▼ + stars: | 2023-08-14 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

The suit alleges that Hawaiian Electric Industries “chose not to deenergize their power lines during the High Wind Watch and Red Flag Warning conditions for Maui before the Lahaina Fire started,” despite knowing the risks of sparking a fire in those conditions. The company and subsidiaries “also chose not to deenergize their power lines after they knew some poles and lines had fallen and were in contact with the vegetation or the ground,” the suit alleges. He added that Hawaiian Electric does not have a formal shut-off program in place, and precautionary shut-offs have to be arranged with first responders. Despite this, Hawaiian Electric (HE) did not enforce a public safety power shutoff, a temporary pause of service to certain areas due to increased fire risk. These included an $11 billion insurance settlement, as well as $1 billion paid to affected local governments.

Persons: ”, “, Jim Kelly, ” Kelly, CoreLogic, Josh Green, Hawaii’s, – CNN’s Andy Rose Organizations: New, New York CNN, Electric Industries “, Hawaiian Electric, CNN, Hawaii Gov, National Weather Service, Western Fire Chiefs Association, Electric, Pacific Gas and Locations: New York, Maui, Lahaina, Hawaii, Honolulu, California

☆ Maui wildfires: What we know about the deadliest US fire in over a century
▼ + stars: | 2023-08-14 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +10 min

While firefighters have made progress against the three largest wildfires, the deadly fire in hard-hit Lahaina is still not fully under control, Maui County Fire Chief Brad Ventura said Saturday. Mike Blake/ReutersThe most destructive and deadly of the fires, the Lahaina wildfire, traveled at an extraordinary speed, the governor said in a video update Sunday afternoon. “When the winds rose up – winds gusting as high as 81 miles per hour – fires spread rapidly,” Green said. Lahaina is the hardest hit areaVideo Ad Feedback The Maui fires destroyed their homes. People are still missing and just 3% of area was searchedA caretaker photographs the site of a home destroyed by the Maui wildfires in Kula, Hawaii on Sunday.

Persons: CNN — Crews, what’s, Josh Green, “ It’s, Brad Ventura, Mike Blake, ” Green, “, Lori Moore, Merrell, Richard T, Bissen, Deanne Criswell, King Kamehameha III, Keith Hayashi, ” Hayashi, John Pelletier, Patrick T, Fallon, Pelletier, Mazie, Brittany Talley, Timm “ TK ” Williams, Williams, Talley, ” Talley, weren’t, we’ll, Anne Lopez, ”, Jim Kelly, ” Kelly Organizations: CNN, ”, Federal Emergency Management Agency, Maui County Fire, Maxar Technologies, FEMA, Sunday, Maui Police, National Fire Protection Association, People, Getty, Sen, Hawaiian Electric Industries, Hawaiian Electric Locations: Maui, ” Hawaii, Lahaina, Maui County, Kula, Hawaii, Lāhainā, Kula , Hawaii, AFP, Kaanapali

Smoke billows from flames near Lahaina as wildfires driven by high winds destroy a large part of the historic town of Lahaina, Hawaii, U.S. August 9, 2023. The database includes names collected from "missing persons" notices posted at shelters as well as information submitted by loved ones. About 46,000 people had flown out of Kahului Airport, Maui's main airport, between Wednesday and Saturday, according to the Hawaii Tourism Authority. "50% of our visitor economy still exists and is thriving in South Maui," the Maui Fresh Streatery food truck posted on Facebook. Bar chart shows visitor spending share of GDP to Maui and Hawaii which are much higher than that for the entire U.S.

Persons: Dustin Johnson, Handout, Josh Green, We've, Green, We're, Chris Loeffler, Deanne Criswell, Criswell, Jeremy Greenberg, Greenberg, Chris Young, Young, Basil Spring, Jorge Garcia, Mike Blake, Brendan O'Brien, Rich McKay, Andrew Hay, Brad Brooks, Sharon Bernstein, Doyinsola Oladipo, Dan Whitcomb, Joseph Ax, Daniel Trotta, Jonathan Oatis, Matthew Lewis Organizations: REUTERS, Monday, Reuters Graphics Reuters, Federal Emergency Management Agency, FEMA, Cross, Hawaiian Electric Industries, CNN, Kahului, Hawaii Tourism Authority, Reuters Graphics, Facebook, Thomson Locations: Lahaina, Lahaina , Hawaii, U.S, Hawaii, Maui, Minnesota, West Maui, Maui's, South Maui

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

☆ Sustainable finance is poised to fund the future of the planet, addressing climate change, equity, and governance
▼ + stars: | 2022-03-03 | by ( Julia Hood | ) www.businessinsider.com time to read: +5 min

This article is part of the "Financing a Sustainable Future" series exploring how companies take steps to set and fund sustainable goals. Metrics include diversity reporting, wage gaps, and health and safety. Metrics include employment and wealth generation, taxes paid, and research and development expenses. Metrics include employment and wealth generation, taxes paid, and research and development expenses. Sustainable finance is bigger than just ESG, though the terms are often conflated.

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