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☆ Martin wins San Marino GP as rivals chip away at Bagnai's championship lead
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +3 min

Martin took the chequered flag 1.445 seconds ahead of VR46 Racing's Bezzecchi to claim his third sprint win of the season. World champion Bagnaia finished third. Bagnaia is top of the riders' standings with 267 points, with Martin (222) in second and Bezzecchi (196) in third. Martin's sprint win reduced the gap to Bagnaia by five points, while Bezzechi's second-placed finish saw him reduce the deficit by two. After Bezzecchi recovered from a slow start to leapfrog Bagnaia, Martin was given more of a challenge, though the Spaniard proved triumphant.

Persons: Pramac Racing's Jorge Martin, Lisi Niesner, Marco Bezzecchi, Francesco Bagnaia, Martin, Bezzecchi, Bagnaia, Marco, Spaniard Martin, leapfrog Bagnaia, Dani Pedrosa, I'm, Jorge, Aleix Espargaro, Luca Marini, Valentino Rossi, Yamaha's Fabio Quartararo, Marc Marquez, Aadi Nair, Pritha Sarkar Organizations: San Marino, San Marino Grand Prix, Ducati, Catalunya, Thomson Locations: Ernstthal, Germany, San Marino Grand, Misano Adriatico, VR46, Misano, Modena, India, Japan, Bengaluru

☆ Nikki Haley’s Goal: Leapfrog Ron DeSantis to Become Donald Trump’s Top GOP Rival
▼ + stars: | 2023-09-08 | by ( John Mccormick | Photographs Elizabeth Frantz For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, nikki, haleys, donald, 800e5345

The continent is rich in the commodities needed for the green energy transition and has abundant solar power, but many governments are also burdened with cripplingly high debts. "Eighty percent of the infrastructure Africa needs by 2050 has not yet been built," Gamboa said at the IMPACT conference. "They've come to a recognition that it is good development to leapfrog and go into the clean energy transition now." "We cannot and will not run away from doing fossil fuel-based investing because the development needs of the continent are so huge," the AFC's Gupta said. "The world still needs energy security, the world still needs energy source diversity.

Persons: John Muchucha, it's, Andrew Steer, Freddy, we've, Tom Mitchell, Sanjeev Gupta, Gupta, Cristina Gamboa, " Gamboa, ActionAid, Gloria Dickie, Jane Wardell, Sharon Singleton Organizations: REUTERS, Earth, Reuters IMPACT, International Institute for Environment, Development, London, African Finance Corporation, International Energy Agency, IMPACT, AFC, Thomson Locations: Africa, Nairobi, Kenya, London, Horn of Africa, Malawi, Mozambique, Madagascar, Sharm el, Sheikh, Lagos, Global South, Paris

☆ Sabalenka looks to march on at US Open with top ranking in the bag
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +3 min

Swiatek fell 3-6 6-3 6-1 to former French Open champion Jelena Ostapenko and Sabalenka - who has a 20-2 record at the majors this year - will aim to push on after accomplishing another of her main objectives for the season. "Reaching the WTA world number one singles ranking is something I've dreamed of ever since I was a little girl when I started playing tennis," Sabalenka, 25, said. "I'm feeling really well on court, really comfortable. I always say that I can be better, but right now I'm really happy with the level that I'm playing." Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: France's Clara Burel REUTERS, Shannon Stapleton, Daria Kasatkina, Swiatek, Jelena Ostapenko, I've, Arthur Ashe, Carlos Alcaraz, Matteo Arnaldi, Alcaraz, Madison Keys, Jessica Pegula, Alexander Zverev, Louis Armstrong, Peyton Stearns, Marketa Vondrousova, Andrey Rublev, Daniil Medvedev, Briton Jack Draper, Alex de Minaur, Zheng Qinwen, Shrivathsa Sridhar, Ken Ferris Organizations: Aryna, U.S, Madison, Louis, Wimbledon, Briton, Tunisian, U.S ., Thomson Locations: Flushing Meadows , New York, United States, Belarus, Belarusian, York, Flushing Meadows, Bengaluru

☆ Vivek Ramaswamy has Iowa voters curious, but not yet committed, after standout debate
▼ + stars: | 2023-08-27 | by ( Aaron Pellish | ) edition.cnn.com time to read: +19 min

That’s the true mark of a real milestone on this campaign,” Ramaswamy joked. For many voters in Iowa, the debate was their introduction to the 38-year-old candidate. A survey of potential Republican primary voters who watched the debate conducted by The Washington Post, FiveThirtyEight and Ipsos showed 26% of voters thought Ramaswamy won the debate, second highest behind DeSantis. Still, the Ramaswamy campaign said it raised $600,000 in the day after the debate, the largest single-day total since its launch. The Ramaswamy campaign plans to continue visiting Iowa and answering voter questions like Christensen’s around the state, Chapman told CNN.

Persons: Vivek Ramaswamy’s, Ramaswamy, ” Ramaswamy, Ron DeSantis, Donald Trump, “ I’m, ” Mara Brown, Brown, she’s, ”, Mike Pence, Chris Christie, Nikki Haley, ” Haley, “, Ipsos, Ramaswamy’s, Melissa Berry, she’d, ” Berry, he’s, Jake Chapman, ” Chapman, That’s, Vivek Ramaswamy, Apoorva, Ramaswamy hadn’t, didn’t, Milt Van Grundy, Van Grundy, Trump, who’s, Haloti Tukuafu, Joe Biden, “ Trump, Vivek, ” Tukuafu, Pam McCumber –, –, “ He’s, ” McCumber, DeSantis, Haley, Pence, Gene Smith, Terry, pushback Trump, ” Gay Lee Wilson, ” Wilson, ‘ There’s, Cory Christensen, ” Christensen, Richard Nixon’s, Christensen, Nikki, you’ve, you’re, ’, “ There’s, Chapman, Hillary Ferrer, leapfrog DeSantis, He’s, ” Ferrer Organizations: Iowa CNN —, Republican, Florida Gov, CNN, Trump, ”, Former New Jersey Gov, South, United Nations, The Washington Post, Atlantic, Quinnipiac, Republicans, “, America, NATO, Raytheon Locations: Urbandale, Iowa, Des Moines , Iowa, South Carolina, Russia, China, Ukraine, Taiwan, Israel, America, Milwaukee, Winterset , Iowa, Ramaswamy’s Iowa, Ohio, Marshalltown , Iowa, Washington ,, Florida, Indianola, Maui, Clarion , Iowa, Newton , Iowa, “, Des Moines, Pleasant Hill , Iowa, Waukee , Iowa, Winterset, Pella , Iowa

☆ Swiatek recharges for U.S. Open defence with Sabalenka hot on her heels
▼ + stars: | 2023-08-25 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +4 min

Aug 19, 2023; Mason, OH, USA; Iga Swiatek (POL) returns a shot against Coco Gauff (USA) during the Western and Southern Open tennis tournament at Lindner Family Tennis Center. "I'm not even going to regret a lot because I'm happy I'm going to have days off." The French Open champion said she would try not to be hard on herself ahead of her U.S. Open title defence. "I'm going to take it easy on myself and just try to do everything step by step." I'm going to give it my all in the U.S. Open.

Persons: Iga Swiatek, Coco Gauff, Katie Stratman, Swiatek, Aryna Sabalenka, Ash Barty's, Sabalenka, I'm, Elena Rybakina, Roland Garros, Jessica Pegula, Gauff, Sloane Stephens, Caroline Wozniacki, Dane, Shrivathsa Sridhar, Peter Rutherford Organizations: Southern Open, Lindner, Tennis Center, Montreal, U.S, Wimbledon, Indian Wells, Flushing, U.S ., Tunisian trailblazer, York, Thomson Locations: Mason, OH, USA, New York, Cincinnati, Melbourne, U.S, Montreal, French, Flushing Meadows, Bengaluru

☆ Calendar slam hopes doused but Djokovic fired up for U.S. Open
▼ + stars: | 2023-08-24 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +3 min

[1/3] Aug 18, 2023; Mason, OH, USA; Novak Djokovic (SRB) reacts after a point against Taylor Fritz (USA) during the Western and Southern Open tennis tournament at Lindner Family Tennis Center. There's still a fire going," said Djokovic, who won the Australian Open and French Open titles to leapfrog Rafa Nadal into top spot in the list of men's major champions. "There's still that drive and motivation to really come at the biggest events in sport and try to win, try to win titles and try to bring some good sensation to the crowds." HARDCOURT DOMINANCEIf the chasing pack feel Djokovic's days of dominance are numbered, the three-time U.S. Open champion's record on hardcourts should give them pause for thought. I think Novak can play much better than he did in the Wimbledon final.

Persons: Novak Djokovic, Taylor Fritz, Katie Stratman, Carlos Alcaraz, Djokovic, leapfrog Rafa Nadal, ramped, Nadal, Patrick Mouratoglou, Alcaraz, Novak, Mouratoglou, Carlos, Margaret Court's, Will, Shrivathsa Sridhar, Peter Rutherford Organizations: Southern Open, Lindner, Tennis Center, U.S, Wimbledon, Flushing Meadows, Cincinnati, Thomson Locations: Mason, OH, USA, Flushing Meadows, tennis, United States, America, Flushing, Bengaluru

☆ How Google's augmented-reality dream turned into chaos
▼ + stars: | 2023-08-22 | by ( Hugh Langley | ) www.businessinsider.com time to read: +12 min

Google's AR glasses were beset by a messy strategy, company insiders say. Google's AR fumbles have proven frustrating for employees in the face of mounting competition from Apple and Meta. "They're dabbling," one insider said of Google's AR efforts. Ramin Talaie/Getty ImagesNorth leaders were told they would lead a new project under Google's hardware boss, Rick Osterloh, and Google's AR and VR leader, Clay Bavor. A small group inside the AR division is also exploring how artificial intelligence could be used with AR glasses, a source said.

Persons: Tim Cook, Iris, Google's, Clay, Ramin Talaie, Rick Osterloh, Clay Bavor, Mark Lucovsky, Lucovsky, Paul Greco, —, Google's Hiroshi Lockheimer, Samsung's, Bavor, Shahram, Hiroshi Lockheimer, Betty, Barry, Greco, Eddie Chung, Kurt Akeley, Akeley, Justin Sullivan, Meta, Sundar Pichai, it's Organizations: Samsung, Apple, Google, Meta, CBC, Insiders, Vision, SBS Biz, Labs, Pro, Bloomberg Locations: Raxium, Kitchen , Ontario

I used to be worried about needing money I had left in a CD — but CD laddering helps with that. This ensures that as CD rates fluctuate, I'll have access to great APYs that become available. Since my CD ladder is set up with a mix of short-term and long-term CDs, once the short-term CDs mature, I replace them with long-term CDs instead of short-term ones. As the short-term CDs mature and are reinvested in long-term CDs, the original long-term CDs will become closer to maturing. That way, when a CD comes to term, I can scope out other CD options with higher rates and reinvest the cash into that new CD.

Persons: I've, I'd, I'm Organizations: Service Locations: Wall, Silicon

☆ Three African teams have reached the Women’s World Cup knockout stages for the first time ever. Here’s what you need to know
▼ + stars: | 2023-08-04 | by ( Jack Bantock | ) edition.cnn.com time to read: +6 min

Yet the tournament’s lowest FIFA world-ranked team (77th) bowed out in style, claiming their first ever Women’s World Cup win with a 3-1 victory over Costa Rica. South AfricaNo team left it as late to qualify from the group stage as South Africa. But Thembi Kgatlana had other ideas, tapping home Hildah Magaia’s pull back to secure South Africa’s first ever Women’s World Cup win and a place in the knockout stages with the flick of a boot. A solid start for a side who arrived at the tournament having conceded more goals at the World Cup than any other team. More history was made as Nouhaila Benzina became the first player to wear a hijab at a senior-level Women’s World Cup, and the defender came close to doubling the lead with a well-struck volley.

Persons: –, Banyana Banyana, Thembi Kgatlana, Kgatlana, Lars Baron, I’ve, ” Kgatlana, Chiamaka Nnadozie, Uchenna Kanu, Osinachi Ohale, Australia’s Alanna Kennedy, Lauren James, Christy Ucheibe, Ucheibe, Isabel Infantes, Striker Ibtissam, Benzina, Anissa, Badri, Paul Kane Organizations: CNN, Qatar, debutants, FIFA, Argentina, South, Getty, Racing Louisville, E, US, Sydney Football Stadium, Super Falcons, Olympic, Canada, Brisbane, Group, England, Denmark, European, Chelsea, Benfica, Germany, South Korea, Atlas Lions, France, Hindmarsh Locations: Nigeria, South Africa, debutants Morocco, Australia, New Zealand, Zambia, Japan, Spain, Costa Rica, Africa, Italy, Sweden, Netherlands, Portugal, Vietnam, Republic, Ireland, Canada, Denmark, England, Morocco, Colombia, Korea, Brisbane, Perth, France, Qatar

☆ India's economy to hold top spot for GDP but not so much for jobs growth: Reuters poll
▼ + stars: | 2023-07-24 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

The world's most populous country aspires to leapfrog to the status of a developed nation, riding on the unprecedented demographic dividend, which demands an annual gross domestic product (GDP) growth rate of around 8% for the next 25 years. It was forecast to grow 6.5% next fiscal year, with expectations of 6.2% growth this quarter, followed by 6.0% and 5.5%. "I think 6.0% to 6.5% is a very achievable and a very conservative forecast for India's growth trajectory," Nim added. The remaining six said the PLI scheme, which allocated billions of rupees as incentives from the Union budget in 2023-24, will have no impact. While India has a lot more ground to cover to replace China as the world's manufacturing hub, some economists acknowledged the PLI scheme was a step in the right direction.

Persons: Dhiraj Nim, Nim, Ajay Banga, Radhika Piplani, PLI, Piplani, Suman Chowdhury, Milounee Purohit, Susobhan Sarkar, Veronica Khongwir, Hari Kishan, David Holmes Organizations: ANZ Research, World, Capital Advisors, Union, Thomson Locations: BENGALURU, China, People's Republic, India

☆ Opinion: ‘Dear Canada…’ an American firefighter’s heartfelt letter to north of the border
▼ + stars: | 2023-07-18 | by ( Opinion Clare Frank | ) edition.cnn.com time to read: +8 min

This means agencies creating the wildland-urban interface or WUI — where human settlements meet the natural environment — are not ultimately responsible for protecting it. By my fifth year in firefighting, I’d seen plenty of wildfires and structure fires, and wildfires threatening structures. As we convoyed in, a battalion chief instructed each engine company, “If it’s not savable, leapfrog to the next house. Smoke rises from the Texas Creek wildfire south of Lillooet, British Columbia, Canada, on July 9. In this banner year, some are crying for Canada to form a national fire department.

Persons: Clare Frank, Read, Cynthia Smalley, nature’s, partiers, leapfrog, Luis Ascui, they’d, ember, Smokey Bear, “, it’s, Canada’s Organizations: CNN, CNN —, Del, Getty, Australia, Service, Reuters, Twitter, Facebook Locations: California’s, United States, Pebble Beach , California, Del Monte Forest, Kinglake, Victoria, Australia, Canada, Texas, Lillooet, British Columbia, California, Greece, Spain, Portugal, Italy, France

LONDON, July 14 (Reuters) - An accelerating dollar slide could be a U.S. gift to its allies by helping them catch up with its impressive disinflation. A dollar slide of this size and speed has typically elicited yelps of pain from U.S. trading partners. Euro zone headline inflation - which peaked about one percentage point above and three months later than the U.S. equivalent last year - was still 2.5 points above it last month. The ECB will likely stay shy of peak Fed rates, but an expected move to 4.0% policy rates by year-end will involve two quarter point hikes after the Fed has stopped. A time-limited dollar drop now may be more benign than a simple reversion to a new 'currency war'.

Persons: Goldman Sachs, Mike Dolan, Josie Kao Organizations: Reserve, Monetary, Sterling, Bank of England, European Central Bank, ECB, Fed, Transatlantic, Reuters, Twitter, Thomson Locations: U.S, Europe, Britain, Swiss

☆ How the Fed’s new instant money program could lead to another regional banking crisis
▼ + stars: | 2023-07-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Sure, you can currently Venmo or Zelle your friends instantly, but the banking system hasn’t kept up. Most transfers currently run on old systems that take hours, or even days, to process the money. Kevin Jacques: It’s a network that lets banks transfer money between themselves and between the account holders at the different banks in a near-instant way. The increase in average hourly earnings remained at 0.4% month on month, unchanged from May; and is up about 4.4% from last year. Instagram has more than two billion users, far more than the 238 million users Twitter reported having in the months before Musk took over.

Persons: New York CNN — FedNow, hasn’t, Bell, Kevin Jacques, It’s, You’ve, heartened, Payrolls, Job, Rucha Vankudre, Alicia Wallace, “, We’re, ”, Joseph Davis, Jerome Powell, Candice Tse, Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Brian Fung, Instagram Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Cota Capital, Fed, There’s UPI, Silicon Valley Bank, ”, Vanguard, Goldman Sachs Asset Management, Meta, Twitter Locations: New York, India, Brazil, Silicon

☆ Meta could become even more dominant in social media with Threads
▼ + stars: | 2023-07-07 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Washington CNN —In less than 48 hours, Meta’s Twitter rival Threads has surpassed 70 million sign-ups, upended the social media landscape and appears to have rattled Twitter enough that it is now threatening legal action against Meta. By promoting Threads through Instagram, and by sharing Instagram user data with Threads to let people instantly recreate their social networks, Meta has significantly greased the onboarding process. The issue isn’t limited to the realm of social media. Rather than viewing it through the lens of a social media market, one helpful way to look at the issue is from the perspective of the advertising market, he said. That could lead to further antitrust scrutiny for Meta even if the question about competition in social media is ambiguous.

Persons: Elon, Meta, Mark Zuckerberg, ”, Instagram, Musk, ” Reddit, Alexis Ohanian, Ohanian, Agustin Reyna, Reyna, Adam Mosseri, Geoffrey Manne, ” Manne, Zuckerberg, Manne, Jeff Blattner, Mosseri, Charlotte Slaiman, “ Organizations: Washington CNN, Meta, Twitter, EU, Google, Center for Law Locations: Europe, Brussels, Portland , Oregon, Washington

☆ How to Start Accounting for Carbon
▼ + stars: | 2023-07-04 | by ( Dieter Holger | ) www.wsj.com time to read: +9 min

Start with the easier stuffBegin with the more straightforward direct emissions from operations and energy purchases—so-called Scope 1 and 2 emissions. On its website, the company provides emissions data for computers and its sustainability-linked sales rose to $3.5 billion in 2021, about 5% of total sales. For HP and Nestlé, more than 95% of their carbon footprint is Scope 3 emissions. To make Scope 3 accounting more accurate, companies can add data that comes directly from their suppliers, if it is available. Businesses can also work together with their suppliers and customers to provide some training and resources to help them get their own carbon accounting in order.

Persons: James McCall, Benjamin Ware, Holcim, Magali Anderson, HP’s McCall, ” McCall, Nestlé’s Ware, “, McCall, GaBi, Nestlé, ” Ware, Don’t, Holcim’s Anderson, Elisabeth Real “, ”, Dieter Holger Organizations: Sustainable Business, HP, World Wildlife Fund, Environmental Defense Fund, Nestlé, Schneider, Engineers, Finance, WWF, Schneider Electric, Food, dieter.holger Locations: U.S, Europe, Texas

☆ Microsoft knows its out of touch with Gen Z. The software giant plans to lure them with AI, an internal memo shows
▼ + stars: | 2023-06-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Microsoft CEO Satya Nadella plans to use AI to attract Gen Z users, a new internal memo shows. A "relatively low share" of Gen Z users compared to competitors, could be a "long-term risk". The confidential internal memo was briefly published online this week by federal antitrust regulators. Last year, the company's research division released a study on the preferences of Gen Z and Millennial office workers. "Something interesting I've noticed teaching is, Gen Z just does not use Microsoft Word, period.

Persons: Satya Nadella, Nadella, Gen Z, Gen Z's Organizations: Activision Blizzard, Microsoft, Excel, Federal Trade Commission, Google

☆ Ambitious plans for US-India technology sharing face hurdles
▼ + stars: | 2023-06-23 | by ( David Brunnstrom | ) www.reuters.com time to read: +5 min

Standing in the way are strict U.S. rules governing export of defense technology, including International Traffic in Arms Regulations (ITAR). Ely Ratner, assistant secretary of defense for Indo-Pacific affairs, has stressed the need to break down barriers to technology sharing with allies and partners, including India. But one congressional aide said efforts to speed technology sharing with India would face "an uphill battle" both in the U.S. Congress and at the U.S. State Department, where officials have a specific obligation to protect U.S. technology. "There are concerns about (technology sharing) in the Australia context and there would be more concerns in the India context," he said. Rick Rossow, an India expert at Washington's Center for Strategic and International Studies, said approval processes for advanced defense technology transfer were "onerous but not impossible."

Persons: Joe Biden, Narendra Modi, Elizabeth Frantz WASHINGTON, Biden, Ely Ratner, Democrat Mark Warner, Republican John Cornyn, Bill Greenwalt, Greenwalt, ITAR, Rick Rossow, David Brunnstrom, Mike Stone, Patricia Zengerle, Don Durfee, Deepa Babington Organizations: India's, White, REUTERS, United, Indian, General Electric Co, Center, New, New American Security, TECH, U.S . Senate India Caucus, Democrat, Republican, U.S . Congress, U.S . State Department, Pentagon, GE, State Department, U.S . Missile Technology Control, Washington's Center, Strategic, International Studies, Thomson Locations: Washington , U.S, United States, India, New Delhi, Asia, U.S, Britain, Australia, New American, Russia, Ukraine, Delhi

☆ Schumer outlines plan for how Senate will regulate AI
▼ + stars: | 2023-06-21 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

The Senate will then turn to committee chairs and other vocal lawmakers on AI legislation to develop bills reflecting the panel discussions, Schumer added, arguing that the resulting US solution could leapfrog existing regulatory proposals from around the world. In his remarks Wednesday, Schumer appeared to acknowledge criticism of his pace. I hear you loud and clear.”But he described AI as a novel issue for which Congress lacks a guide. Formally unveiling the framework on Wednesday, Schumer said any legislation on AI should be geared toward facilitating innovation before addressing risks to national security or democratic governance. Schumer predicted that the process is likely to take longer than weeks but shorter than years.

Persons: Chuck Schumer, Schumer, ” Schumer, ”, “, “ It’s, Schumer’s Organizations: CNN, Congress, Parliament Locations: Washington, ”

☆ DOJ launches cyber unit with national security focus as China, Russia threats mount
▼ + stars: | 2023-06-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The U.S. Department of Justice announced Tuesday a new unit within its National Security Division focused on pursuing cyber threats from nation-state and state-backed hackers, formalizing an increasingly significant part of the national security apparatus into the Justice Department's hierarchy. In a statement, Assistant Attorney General Matt Olsen said the new unit would allow the DOJ's national security team "to increase the scale and speed of disruption campaigns and prosecutions of nation-state threat actors, state-sponsored cybercriminals, associated money launderers, and other cyber-enabled threats to national security." National security officials outside the DOJ have also emphasized China as a top cybersecurity concern, including the U.S.' top cybersecurity official. The announcement made no mention of Chinese cyber efforts, which CISA Director Jen Easterly described last week as an "epoch-defining threat." Building cases against those groups can take years, and don't always result in an arrest, given the far-flung nature of the hacking groups.

Persons: Sue Gordon, Matt Olsen, Jen, Olsen Organizations: National Intelligence, National Counterterrorism Center, CNBC, U.S . Department of Justice, National Security Division, Justice, DOJ, U.S, Navy Locations: San Francisco, China, North Korea

☆ How Africa Can Help the World
▼ + stars: | 2023-06-16 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

Next week in Paris, a critical diplomatic meeting begins on how to enable low-income, climate-vulnerable countries to grow their economies while reducing their dependence on fossil fuels. It reminds me of my recent conversation with Wanjira Mathai, managing director for Africa and global partnerships at the World Resources Institute, and Rebekah Shirley, the Africa deputy director. “Can Africa leapfrog?” I asked them. We spoke for two hours over lunch on the terrace of a restaurant in Nairobi as marabou storks squawked and flew across the sky. Our conversation made me think in fresh ways, which is what I hope Climate Forward occasionally does for you.

Persons: Wanjira Mathai, Rebekah Shirley, “, ” Organizations: World Resources Institute Locations: Paris, Africa, Nairobi

☆ $5 billion fintech Zepz looks to take on rivals like PayPal with digital wallet, M&A plans
▼ + stars: | 2023-06-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

With a $5 billion valuation, Zepz is one of the largest fintech companies in Europe, backed by leading investors including Accel, TCV and Leapfrog. The company enables users to send money from a smartphone or computer to people abroad, who can receive it in their bank account, mobile wallet, or as a mobile airtime top-up. Lenhard didn't identify which companies Zepz was looking to buy, but said the sharp slump in private fintech valuations made it an attractive time to kick off M&A exploration. A particular focus for Zepz product-wise in the near term is digital wallets, Lenhard said, with the company planning to launch its first digital wallet "imminently." He added that he hopes the company's upcoming digital wallet product will convince customers to rely more on Zepz, rather than using competing digital banks and other financial apps which have grown their services to offer a much wider range of products.

Persons: Mark Lenhard, Zepz, It's, Lenhard, Sendwave Organizations: Getty, CNBC, Accel, Bank of England, Sky News, PayPal Locations: Europe, Western Union

☆ World Bank must drive private investment in climate transition, new chief says
▼ + stars: | 2023-06-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, June 11 (Reuters) - The World Bank must use "informed risk-taking" to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president Ajay Banga said on Sunday. Private sector capital was critical since funds from governments, philanthrophy, the World Bank and other multilateral development banks (MDBs) would never suffice to help poor countries adapt to and mitigate climate change, said Banga, a former Mastercard CEO who took office on June 2. Private companies were bound to deliver returns for shareholders and could not take on the risks involved, but the bank could help, he said. The Indian-born executive was nominated by the U.S. for the job precisely because of his previous work in the private sector, and he has pledged to identify barriers for greater investment and find ways to maximize the bank's impact. Banga told CNN he would also work closely with other multilateral lenders and development organizations, noting that he would be joined in his visits this week by Inter-American Development Bank President Ilan Golfajn.

Persons: Ajay Banga, Banga, CNN's, Fareed Zakaria, Ilan Golfajn, Andrea Shalal, Mark Porter, Jan Harvey Organizations: Fareed Zakaria GPS, World Bank, Mastercard, U.S, CNN, Inter, American Development Bank, Thomson Locations: Banga, Peru, Jamaica

Both companies say they would have moved ahead even without direct federal funding. Rick Luebbe, the chief executive of Group14, said the company was able to raise additional capital on the back of the federal money, allowing it to build two production lines in Moses Lake rather than one. In 2005, for example, the government introduced tax credits for the installation of solar panels, without restrictions on the country of origin. Over the next six years, imports of Chinese solar panels increased to $2.7 billion a year, up from $21 million a year. China controls three-quarters of the world’s supply of graphite, but “our technology requires sand and energy,” said Gene Berdichevsky, the chief executive of Sila.

Persons: Rick Luebbe, Moses Lake, ”, Moses, It’s, Biden, Gene Berdichevsky, Sila Locations: Moses Lake, Georgia , Louisiana, Tennessee, United States, China

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

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