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CNN —The Washington Post’s incoming chief executive and publisher will start the job with a mess on his hands. Workforce tensionsThe Washington Post Guild, the union that represents staffers, has been negotiating with executives on a new contract for a year and a half, but it has yet to reach an agreement. Wages and staff reductions have remained a major sticking point between the two sides, causing dismay among union members with the newspaper’s management. The Post’s management has so far rejected the union’s wage demand and has yet to directly confirm whether remaining staffers’ positions are safe from cuts, the union said. On Thursday, departing staffers were sent an email from management encouraging them to buy official merchandise emblazoned with the Post’s logo.

Persons: William Lewis, Lewis, Sally Buzbee, Patty Stonesifer, Stonesifer, ”, “, Rupert Murdoch’s, Prince Harry, Hugh Grant, —, I’m, Lewis “ Organizations: CNN, Washington, Workforce, Post Guild, Washington Post, News Corp, The Daily Telegraph, Murdoch’s News Corp, Murdoch’s, Post, NPR

On Nov. 18, China’s Ministry of Public Security announced that authorities in northern Myanmar had handed over some 31,000 suspects. The Kokang Self-Administered Zone and the Wa Self-Administered Division both share a border with China and are heavily influenced by their bigger neighbor. The Ming family are not the only powerful Kokang families caught up in the drive. Wa police handed 194 Chinese nationals to Chinese authorities on Nov. 28, according to Wa's state media, Voice of Wa State. Others say that China is showing it won't tolerate the scams anymore, regardless of how powerful are the people behind them.

Persons: ”, Lu Jiantang, Jason Tower, Ming, Hu Xijin, ” Hu, Wei Qingtao, they’ll, ” Wei, Liu Zhengqi, Ming Xuechang, Kokang, Yin Masan, MNDAA, cyberscammers, Richard Horsey, “, Bai Suocheng, Li Kyar Wen, It’s, Wanqing Chen Organizations: China’s Ministry of Public Security, U.S . Congress, United States Institute of Peace, Communist Party, China’s Communist Party, CCTV, Global Times, of Public Security, Fully, Wa Construction Ministry, Wa Communist Party, Brotherhood Alliance, Arakan Army, Myanmar National Democratic Alliance Army, National Liberation Army, International Crisis Locations: BANGKOK, China, Myanmar, “, Wa, Kokang, Yunnan, Wa State, Shan, Arakan, cyberscams, Beijing

☆ Life insurers binge on US financing aimed at helping housing
▼ + stars: | 2023-12-05 | by ( Koh Gui Qing | ) www.reuters.com time to read: +8 min

It has been predominantly used by life insurers, because they need to boost their investment returns with cheap funding to meet long-term liabilities. They provide the cheap funding to banks and insurers in exchange for collateral to ensure they get their money back. Insurers are entitled to tap FHLB funding. Insurers’ borrowing from FHLBs picked up in 2008 financial crisis, as those that spread themselves thin with aggressive investments scrambled for cash. They did not explain why insurers need FHLB funding to invest in mortgages.

Persons: Sarah Silbiger, Ryan Donovan, CMBS, Lawrence White, White, Graphics JUICING, Cynthia Beaulieu, Cornelius Hurley, Hurley, FHLBs, ’, Michael Ericson, Jack Dolan, Koh Qui, Greg Roumeliotis, Anna Driver Organizations: REUTERS, Loan, Federal Housing Finance Agency, of Federal Home Loan, FHLBs, FHLB, National Association of Insurance, New York University, MetLife Inc, Equitable Holdings Inc, Corebridge, Brighthouse Financial, MetLife, TIAA, Equitable, Graphics, Wellington Management, Boston University School of Law, Coalition, Silicon Valley Bank, First, American, of, Insurance Coalition, Reuters, Thomson Locations: Washington , U.S, U.S, Boston, Silicon, First Republic, Chicago, New York

☆ New US rules on Chinese batteries could push up price of electric cars
▼ + stars: | 2023-12-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —The US government has announced new regulations that aim to keep Chinese batteries out of cars sold in the United States, a move that could push up the price of electric vehicles for American drivers. China is the world’s leader in EV battery production, dominating almost “every stage of the EV battery supply chain,” according to a 2023 report by the International Energy Agency (IEA). Tesla is a longtime customer of China’s CATL, the world’s largest EV battery maker. Doubling downThe new measures add to existing efforts by Washington to redirect auto manufacturing to the United States. “Financial incentives play an important role in the widespread adoption of electric vehicles,” researchers at George Washington University found in a 2022 study.

Persons: Biden, ” John Podesta, “, John Bozzella, ”, Tesla, China’s CATL, CATL, Jeff Kowalsky Organizations: Hong Kong CNN, EV, International Energy Agency, US Treasury, Internal Revenue Service, Department of Energy, Treasury, Officials, IEA, “, Alliance, Automotive Innovation, Ford, Getty, George Washington University, ” China’s Ministry of Foreign Affairs Locations: Hong Kong, United States, China, Russia, North Korea, Iran, America, Michigan, Washington, North America, Dearborn , Michigan, AFP, Europe, Beijing

☆ Marketing is an art and a science. Here are 3 ways to amplify creativity in the generative-AI era
▼ + stars: | 2023-12-04 | by ( Matthew Lieberman | ) www.businessinsider.com time to read: +4 min

Matthew Lieberman, CMO at PwC, shares his tips for marketing leaders on how to amplify creativity. Here are three ideas to help marketing leaders help creativity thrive. AdvertisementYou can then use marketing technology to design, monitor, and report on a data-driven campaign that will help amplify creativity's impact. Show the moneyAs the saying goes, follow the money, and a lot of money is going to marketing technology. It's why marketing leaders will always need to find, encourage, and amplify creativity in the people on their teams.

Persons: Matthew Lieberman, — Organizations: PwC, Invest, Service, Tech

☆ Global Leaders at COP28 Climate Summit Regulate and Cajole Nations to Cut Methane
▼ + stars: | 2023-12-02 | by ( Eric Niiler | ) www.wsj.com time to read: 1 min

EPA Administrator Michael S. Regan explains the agency’s new methane regulations and the importance of reducing the greenhouse gas. Regan spoke at WSJ’s Journal House at the COP28 summit in Dubai. Photo: The Wall Street JournalFrom Texas to Turkmenistan, global leaders at the COP28 climate summit in Dubai are taking a big swing at cutting methane, a potent greenhouse gas produced by oil and gas drilling, livestock and rotting vegetation. On Saturday, the Biden administration announced a final methane rule for U.S. oil and gas producers, requiring them to plug methane leaks and stop burning excess gas with flares. The regulations also mandate regular inspections of facilities to make sure the planet-warming compound isn’t escaping into the atmosphere.

Persons: Michael S, Regan, Biden Organizations: WSJ’s Locations: Dubai, Texas, Turkmenistan

☆ COP28 Climate Summit Takes Aim at Powerful Methane Emissions
▼ + stars: | 2023-12-02 | by ( Eric Niiler | ) www.wsj.com time to read: 1 min

Persons: Michael S, Regan, Biden Organizations: WSJ’s Locations: Dubai, Texas, Turkmenistan

☆ Sending money both at home and abroad can have its challenges. New innovations are tackling those problems.
▼ + stars: | 2023-11-30 | by ( Sponsor Post | Created Insider Studios With Mastercard | ) www.businessinsider.com time to read: +5 min

Almost half — 47% — of SMEs who have experienced problems with international payments say they have become less confident about sending money across borders and as a result send fewer payments overseas. "The market expectation is that the user experience for domestic payments can be replicated with cross-border payments. However, cross-border payments still face a lot of challenges. "Against this backdrop, it's never been more crucial for cross-border payments to arrive safely. The G20 Roadmap for Enhancing Cross-Border Payments aims to make such transactions "cheaper, faster, more transparent, and more accessible" by 2027.

Persons: Rasika Raina, Mastercard's, Raina, it's Organizations: Mastercard, Research, Insider Studios

DENVER (AP) — President Joe Biden will try to turn Rep. Lauren Boebert of Colorado into the embodiment of Republican opposition to his agenda as he visits her congressional district on Wednesday. Biden plans to tour CS Wind, the world’s largest facility for wind tower manufacturing, in the town of Pueblo. The White House said the data indicates that Biden's policies are expanding economic opportunity. He spoke at a Tuesday night fundraiser in Denver, where he said Trump and Republicans wanted to abandon his administration's efforts. Biden also said Republicans want to cut Social Security and Medicare, benefits that are crucial for many elderly Americans.

Persons: Joe Biden, Lauren Boebert, Biden, Donald Trump, MAGA, Boebert, Adam Frisch, Rosalynn Carter, Jimmy Carter, Trump, “ We’re, ” Biden, ”, “, ___ Megerian Organizations: DENVER, Republicans, CS, Democratic, Treasury Department, White, MAGA Republicans, Congressional, Social Security, Pueblo Locations: Colorado, Pueblo, Israel, Pennsylvania, ”, Atlanta, Denver, America, United States, Washington

Suryana has spent more than three decades living in the shadow of the power plant in northern Java, just 60 miles from Jakarta, Indonesia’s most populous city. Emissions from burning coal, which is highly polluting but relatively cheap, contribute up to a third of Indonesia’s air pollution according to Siti Nurbaya, Indonesia’s Environmental and Forestry Minster. The Indonesian government has called on residents to use public transportation and has given regulation and financial incentives to residents who want to shift from using gas or diesel-fueled vehicles to electric vehicles. The government is pushing to have more than 530,000 electric vehicles on the road in Indonesia by 2030. Because industry is contributing 30% to 40% of the air pollution in Jakarta, in addition to emissions from transportation,” Syuhada said.

Persons: Suryana, “ We’ve, ”, Ginanjar Syuhada, —, Siti Nurzanah, ” Nurzanah, Syuhada, “, Siti Nurbaya, Budi Karya, ” Syuhada Organizations: —, United Nations, Associated Press, World Health Organization, Air, Vital, Indonesia’s Ministry of Health, WHO, Jakarta Health Agency, Jakarta's Persahabatan, Persahabatan Hospital, Forestry, Transportation Locations: JAKARTA, Indonesia, Java, Jakarta, Indonesia’s, United, Dubai, Swiss, Indonesian, New York

☆ An Amazon worker's death from blunt force injuries resulted in a $7,000 fine for the company
▼ + stars: | 2023-11-27 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

An Amazon worker died in Indiana in May after his head collided with a conveyor belt. OSHA has previously found that several Amazon warehouses failed to report worker injuries in the past. Regulators have also criticized Amazon's focus on speed at its warehouses, which resulted in workers "awkwardly twisting, bending and extending themselves to lift items," Business Insider previously reported. According to Amazon, workplace injury rates have reduced by "nearly 15%" from 2019 to 2021, Business Insider previously reported. Amazon did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Caes Gruesbeck, Stephen Wagner, Maureen Lynch Vogel Organizations: OSHA, Service, Washington Post, Amazon, Regulators, Business, Post, Business Insider Locations: Indiana

☆ Every country needs an Inflation Reduction Act
▼ + stars: | 2023-11-23 | by ( Antony Currie | ) www.reuters.com time to read: +9 min

REUTERS/David Gray/File Photo Acquire Licensing RightsMELBOURNE, Nov 23 (Reuters Breakingviews) - Lawmakers in South Korea blasted the U.S. Inflation Reduction Act as a betrayal. Yet concerns about market distortion from the policy intended to stimulate investment in the energy transition and signed into law by President Joe Biden in August 2022 are easing. The Biden administration’s willingness to negotiate on its package of $370 billion of tax breaks and other measures has helped. Reuters GraphicsTrouble is, governments also need to show that they will be fiscally responsible stewards of the energy transition in the short term – especially with inflation still a threat and budgets under pressure. In a speech on Nov. 2 about enabling Australia’s energy transition, Treasurer Jim Chalmers said that “incentives like the type we’ve seen in the Inflation Reduction Act in the United States can be part of an answer but they’re not the whole answer”.

Persons: David Brockwell, David Gray, Australia’s Fortescue, FMG.AX, Joe Biden, Biden, –, Goldman Sachs reckons, ’, Uncle Sam, Fumio, Jim Chalmers, they’re, Chalmers, Una Galani, Thomas Shum Organizations: REUTERS, Rights MELBOURNE, Reuters, Australia, Washington, European, of America, Labor Energy Partnership, U.S, Canberra, Climate Energy Finance, Climate Capital Forum, Deloitte, National Australia Bank, quicken, Thomson Locations: Lake George, Canberra, South Korea, United States, Seoul, European Union, U.S, Japan, Washington, EU, Australia

Overall, Adobe estimates one in five Americans plan to use buy now, pay later plans to purchase holiday gifts. Retailers have found that customers offered a buy now, pay later option are more likely to have bigger cart sizes or to convert from browsing to checking out. In its report, the Fed cites research that finds that customers spend 20% more when buy now, pay later is available. LexisNexis Risk Solutions provides many buy now, pay later lenders with alternative credit scores for assessing consumers seeking loans, including those who may not have a traditional credit score. In the past two years, Williams has used buy now, pay later plans at stores including Target, BoxLunch, EyeBuyDirect, and Skims.

Persons: Vivek Pandya, Demishia Alford, Alford, “, ”, she’ll, I’ll, I’m, ” Kevin King, Kevin, ” Alford, Jessica Sarceda, ” Sarceda, Sarceda, Allison Williams, Williams, —, ” Jinal Shah, Charles Schwab Organizations: —, Federal Reserve Bank of New, Adobe, Adobe Digital, ”, Retailers, Fed, Consumers, Walmart, LexisNexis, Solutions, Nike, Target, Zip, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Federal Reserve Bank of New York, Greensboro , North Carolina, Santa Monica , California, Amelia , Ohio

His portrayal came in testimony in an antitrust trial focused on Epic Games' attempt to upend Google's store for Android phone apps. It's similar to a payment system that Epic unsuccessfully challenged in a parallel lawsuit filed against Apple's iPhone app store. Sweeney said Google tried to entice him with a wide range of financial incentives, which he rejected. After rejecting Google's overtures, Epic tried to distribute Fortnite for Android through its own website. “It's an issue I see as existential to all games, including Epic,” Sweeney said.

Persons: Tim Sweeney, Sundar Pichai, Sweeney, Jonathan Kravis, Kravis, ” Sweeney, Fortnite, Sweeney didn't Organizations: FRANCISCO, Google, Games, Washington , D.C, U.S, Supreme, Activision, Android, Apple, Sony, Microsoft, Nintendo, PlayStation Locations: San Francisco, Washington ,, View , California

☆ Mexican lawmakers OK stock market reform bill
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 15 (Reuters) - Mexico's lower house on Wednesday passed a bill aimed at revamping national stock exchanges, a long-awaited move meant to boost trading following a spate of delistings from the main market in recent years. The bill loosens regulations for companies to go public, speeding up the process and reducing the costs involved, said Mexico's largest market operator, the Bolsa Mexicana de Valores, in a statement. The bill had previously passed in the Senate, and will now be sent to President Andres Manuel Lopez Obrador's desk to be signed into law. Just 138 companies are listed on the Bolsa Mexicana de Valores, which has gone six years without a new listing, barring spin-offs. Reporting by Kylie Madry and Diego Ore; Editing by Anthony Esposito and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Gabriel Yorio, Andres Manuel Lopez, Lala, Kylie Madry, Diego Ore, Anthony Esposito, Stephen Coates Organizations: MEXICO CITY, Bolsa Mexicana de, Senate, Grupo Sanborns, Thomson Locations: MEXICO, Bolsa Mexicana de Valores

☆ ‘The Crown’ Season 6 review: Diana takes center stage as final season saves the worst for last
▼ + stars: | 2023-11-16 | by ( Brian Lowry | ) edition.cnn.com time to read: +4 min

After sweeping the Emmys with the previous iteration of its cast, the Netflix drama looks ready to limp across the finish line unbowed, but slightly bloodied. Splitting the final season into two parts, the first four episodes focus on a pair of relationships in the wake of the divorce that shook the world. Fflyn Edwards as Prince Harry, Elizabeth Debicki as Princess Diana and Rufus Kampa as Prince William in "The Crown" Season 6. The fifth season premiered not long after Queen Elizabeth II’s death, which somewhat obscured its shortcomings. “The Crown” begins its sixth season November 16 on Netflix.

Persons: ”, there’s, Peter Morgan, it’s, Diana, Elizabeth Debicki, Dodi Fayed, Khalid Abdalla, Mohamed Al Fayed, Salim Daw, Charles, Dominic West, Imelda Staunton, Camilla, Olivia Williams, Elizabeth, Prince Philip, Jonathan Pryce, Charles –, Fflyn Edwards, Prince Harry, Rufus Kampa, Prince William, Daniel Escale, Queen Elizabeth II’s Organizations: CNN, Netflix, Royals

☆ IMF says central bank digital currencies can replace cash: 'This is not the time to turn back'
▼ + stars: | 2023-11-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

SINGAPORE — Central bank digital currencies have the potential to replace cash, but adoption could take time, said Kristalina Georgieva, managing director of the International Monetary Fund on Wednesday. "CBDCs can replace cash which is costly to distribute in island economies," she said Wednesday at the Singapore FinTech Festival. CBDCs are the digital form of a country's fiat currency, which are regulated by the country's central bank. They are powered by blockchain technology, allowing central banks to channel government payments directly to households. Several central banks have already launched pilots or even issued a CBDC," the IMF said in a September report.

Persons: Kristalina Georgieva Organizations: International Monetary Fund, IMF, Singapore FinTech, Bank for International, Atlantic Council Locations: SINGAPORE — Central, Singapore

☆ India’s gamified equities are a wake-up call
▼ + stars: | 2023-11-08 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

The result is an acceleration of Indian savings away from gold and real estate into financial products. However, it is also leading to what Ashish Gupta, chief investment officer at Axis Bank’s mutual fund, dubs “the gamification of Indian equities”. A frenzy for index options has driven up volume in the derivatives market to the tune of $4.3 trillion a day. Retail traders made up a higher share of equity derivatives turnover than their institutional counterparts on the National Stock Exchange between 2017 and 2021. Whatever the fix, it’s a reminder that India’s digital leapfrog which other developing countries are urgently trying to replicate has a dark side too.

Persons: Francis Mascarenhas, Ashish Gupta, Gupta, weren’t, Ananth Narayan, SEBI, Nithin Kamath, Zerodha, Lalit Keshre, Una Galani, Thomas Shum Organizations: Bombay Stock Exchange, REUTERS, Rights, Reuters, National Stock Exchange, Tiger, Securities, Exchange Board of India, Thomson Locations: Mumbai, India, U.S

☆ Yes, it's possible to get a 4.8% mortgage today — here's how
▼ + stars: | 2023-11-04 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

A top homebuilder executive shared advice for getting a lower mortgage rate right now. Taylor Morrison's Tawn Kelley suggested borrowing directly from a builder's mortgage arm. AdvertisementAdvertisementHigh mortgage rates have deterred many would-be homebuyers from purchasing a property over the last year. But here may be a glimmer of hope: People may have more luck securing a lower mortgage rate if they buy a new-construction home. Builder incentives include rate buydowns, mortgage rate locks, and forward commitments.

Persons: Taylor Morrison's Tawn Kelley, Kelley, —, Tawn Kelley, homebuilder Taylor Morrison, Insider's Alex Nicoll, Freddie Mac, Taylor Morrison, Organizations: Service, National Association of Realtors, Mortgage, Finance Locations: balk

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

☆ The warped financial logic fueling America’s ‘doom loop’
▼ + stars: | 2023-10-31 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Well, when a landlord doesn't lower the rent to get a new retail tenant, it's because that landlord can't. They're free to renegotiate or refinance the terms of mortgages, given the extraordinary downturn facing retail storefronts. And the future will be full of even higher vacancy rates, higher interest rates, and lower rents. Retail rents have flattened, she says, but the construction of retail space has not. Still, from an urban-planning standpoint, the way we finance retail space makes no sense.

Persons: You've, apocalypses, that's, It's, David Greensfelder, Greensfelder, Banks, what's, —, Larisa Ortiz, Ortiz, Justin Sullivan, Lorenzo Perez, I've, Rachel Meltzer, Kazuko Morgan, Perez, Culdesac, Something's, Meltzer, Adam Rogers Organizations: McKinsey & Company, Verizon, Republics, Harvard Locations: America, Urban, Manhattan, San Francisco, Market, vaya, What's, Phoenix, That's, LA, New York, Wakefield, Tempe , Arizona

☆ Biden administration to crack down on ‘junk fees’ in retirement plans
▼ + stars: | 2023-10-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Biden administration is cracking down on so-called "junk fees" in retirement accounts. The "hidden costs" of financial conflicts in retirement plans amount to "junk fees," Lael Brainard, director of the White House National Economic Council, said during a press call Monday evening. watch now"It's time to get junk fees out of the retirement savings market," said Julie Su, acting secretary of the Labor Department, during the call. However, the Labor Department can regulate them if sold in a retirement account, according to a Biden administration official speaking on background. It's time to get junk fees out of the retirement savings market.

Persons: Julie A, Su, Tom Williams, Biden, There's, Lael Brainard, Julie Su, Sen, Bill Cassidy, Virginia Foxx, Anna Moneymaker, Obama Organizations: Labor, Health, Education, Washington , D.C, CQ, Inc, Getty, U.S . Department of Labor, Finance, Securities and Exchange Commission, Congressional Research Service, White, National Economic Council, Labor Department, Rep, Economic, SEC, Biden, Department of Labor Locations: Washington ,

☆ The auto strikes are probably — but not definitely — over. Here’s what comes next
▼ + stars: | 2023-10-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The longest US auto strike in 25 years is nearly over. The United Auto Workers union announced a tentative agreement on a contract with General Motors Monday night. Typically when a union goes on strike, and then reaches a tentative deal, the workers don’t return to work until the ratification process is completed. The union hasn’t yet said why its 18,000 strikers are going back to work before the ratification process is conducted. Fewer senior union members who are not at top pay could see their pay increase by between 20% to 46%.

Persons: Stellantis, Mack Trucks, ‘, Shawn Fain, Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, UAW, GM, Chrysler, Teamsters, UPS Locations: New York, Stellantis, Spring Hill , Tennessee

☆ COP28 chief, groups, urge tripling renewable capacity by 2030
▼ + stars: | 2023-10-30 | by ( Yousef Saba And Kate Abnett | ) www.reuters.com time to read: +2 min

ABU DHABI, Oct 30 (Reuters) - The presidency of next month's COP28 climate summit and two renewable energy organisations on Monday urged governments to triple renewable energy capacity by 2030 as part of efforts to stop global warming exceeding 1.5 degrees Celsius. Renewable energy capacity needs "to reach more than 11,000 GW" by 2030, the United Arab Emirates' COP28 presidency, the International Renewable Energy Agency (IRENA) and the Global Renewables Alliance said in a joint report. Group of 20 nations, among them China, the United States and India, agreed in September to pursue efforts to triple global renewable energy capacity by 2030. However, striking a deal among the nearly 200 countries that attend COP28 meetings will not be easy. They say a renewable energy deal at COP28 must be paired with a commitment to phase out CO2-emitting fossil fuels - a pledge that has faced resistance from Saudi Arabia, Russia and other fossil fuel-reliant economies.

Persons: IRENA, Wopke Hoekstra, al, Jaber, Yousef Saba, Kate Abnett, Deborah Kyvrikosaios Organizations: United Arab, International Renewable Energy Agency, Global Renewables Alliance, Thomson Locations: ABU DHABI, Dubai, Paris, United Arab Emirates, China, United States, India, Saudi Arabia, Russia, Brussels

☆ Education Department penalizes Missouri lender for error that made 800,000 student loan borrowers delinquent
▼ + stars: | 2023-10-30 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

The U.S. Department of Education will penalize student loan servicer Mohela, or the Missouri Higher Education Loan Authority, for its failure to send timely billing statements to 2.5 million borrowers. As a result of Mohela's errors, more than 800,000 borrowers were delinquent on their loans, the Education Department said in a statement Monday. Higher education expert Mark Kantrowitz said he believed this was one of the first instances of the government withholding payment from a student loan servicer. "It is only fair for the loan servicer to be penalized for mailing late statements." Federal student loan payments were on pause since March 2020, due to the Covid pandemic, but resumed this month.

Persons: servicer Mohela, Rich Cordray, Mark Kantrowitz, servicer, Kantrowitz, Mohela, servicers, Sen, Elizabeth Warren, Braxton Brewington, Brewington, Biden Organizations: U.S . Department of Education, Washington , D.C, U.S . Department, Education, Missouri Higher Education Loan Authority, Education Department, Finance, Federal, Mohela, CNBC Locations: Washington ,, Missouri, forbearance

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