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☆ Foxconn unit to sell stake in Chinese chip firm Unigroup
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ann WangTAIPEI, Dec 17 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker, said on Friday its subsidiary in China has agreed to sell its entire equity stake in embattled Chinese chip conglomerate Tsinghua Unigroup. Foxconn, a major Apple Inc (AAPL.O) supplier and iPhone maker, disclosed in July it was a shareholder of Tsinghua Unigroup. Xingwei controls a 48.9% stake in a different entity that holds a 20% stake in the vehicle owning all of Unigroup. The company has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics. Originating as a branch of China's prestigious Tsinghua University, Tsinghua Unigroup emerged in the previous decade as a would-be domestic champion for China's laggard chip industry.

☆ ECB will have to stay laggard in bond-buying exit
▼ + stars: | 2022-12-13 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

Rising yields and a still frail euro zone mean that Europe’s so-called quantitative tightening (QT) should be slow. If it stopped reinvesting all maturing debt from March, its bond portfolio would shrink by 287 billion euros next year. If bond yields do spike, the ECB can step in with an emergency bond-buying programme, called the Transmission Protection Instrument. The real dangers of a disorderly exit mean the ECB has little choice but to remove the punchbowl slowly. The shift is a reversal of nearly a decade of monetary stimulus by the ECB as the euro zone went through several crises.

☆ Why aluminum plants in the U.S. are far more polluting than some of their counterparts abroad
▼ + stars: | 2022-12-06 | by ( Phil Mckenna | Inside Climate News | ) www.nbcnews.com time to read: +15 min

A plant worker uses a crane to lift a cask of molten aluminum a Century Aluminum Company plant in Hawesville, Ky. in 2017. Of the five remaining facilities, only the Century Aluminum Sebree plant in Robards, which employs 625 workers, and a smaller Alcoa plant in Massena, New York, run at full capacity. Phillip McKenna/NBC NewsSteinsen, of Century Aluminum, said the company has no plans to shut down its Sebree facility in Robards. In 2015, when the U.S. aluminum production was in steep decline, the EPA ended its industry partnership. In 2019, 7,510 metric tons of PFCs were emitted from global aluminum production, according to a study published last year in the Journal of Geophysical Research — Atmospheres.

☆ Goldman finds prior year's losers tend to beat the market in the first quarter — 10 laggard buys
▼ + stars: | 2022-12-02 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

As investors prepare their portfolios for the new year, Goldman Sachs revisited laggard stocks that have the potential to outperform at the start of 2023. In the past, stocks that lagged the broader market tended to become leaders in the first quarter of the following year, according to Goldman Sachs. Goldman Sachs searched for laggards across several different criteria. Another stock that made the list includes Adobe , which Goldman Sachs considers a buy-rated quality stock trading at a reasonable valuation. In October, Goldman Sachs analyst Kash Rangan identified the name as a tech stock that is resilient in a downturn .

☆ Analysis: Australia's climate policies don't match its big talk at COP27
▼ + stars: | 2022-11-20 | by ( Praveen Menon | ) www.reuters.com time to read: +6 min

Albanese's climate change minister, Chris Bowen, telling the conference Australia was a "willing climate collaborator", made a pitch to host COP31 in 2026 along with the Pacific island nations. "But if you turn to see the other side of the face it's all about the fossil fuel development and the government's addiction to fossil fuel royalties and revenues," Hutley told Reuters in a phone interview from COP27 in Sharm el-Sheikh. Australia's biggest contribution to the climate crisis is its export of fossil fuels. More than 100 fossil fuel developments continued in various stages as of December 2021, the council said in a report this month, based on government data. "There is clearly a policy gap in Australia that is allowing fossil fuel companies to continue expanding and developing new fossil fuel projects," said Will van de Pol, asset management campaigner at activist investor group Market Forces.

☆ Toyota's new Prius has a little more MPG but lots more power
▼ + stars: | 2022-11-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Toyota unveiled an all-new version of its famous Prius hybrid car Wednesday just ahead of the Los Angeles Auto Show. With its batteries fully charged, the new Prius Prime will go at least 50% farther without burning any gasoline as today’s Prius Prime does, according to Toyota. It will be able to produce up to 220 horsepower, 100 horsepower more than today’s Prius Prime. Almost every vehicle in Toyota’s line-up is now available with hybrid power. Along with the Prius, Toyota also unveiled the Toyota BZ Compact SUV concept.

☆ Pfizer Hasn’t Moved Past the Pandemic Just Yet
▼ + stars: | 2022-11-01 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Pfizer ’s stock has gone from being a star in 2021 to a pharma laggard this year. Much of that has to do with the trajectory of the pandemic. Like no other large company in the U.S., Pfizer’s story has become uniquely tethered to Covid-19. Its two top products, the Covid-19 vaccine and the antiviral pill Paxlovid, are now expected to generate $56 billion in sales this year, Pfizer said Tuesday, raising the outlook for the vaccine by $2 billion. That represents around half of total sales, which the company on Tuesday predicted will come in the $99.5 billion to $102 billion range.

☆ These are Goldman's favorite long-term buys in the energy sector
▼ + stars: | 2022-10-27 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Even though the energy sector has sharply outperformed the broader market this year, there are still pockets of opportunity for investors looking for long-term buys, according to Goldman Sachs. Favorite long-term energy buys Every stock on Goldman's list is buy rated, including EOG Resources , which the firm recently upgraded to due to improving capital, upside from new plays and strong capital efficiency and execution. "We see 18% total return to our 12-month price target to EOG." Suncorcar has been an underperformer but offers an 18% upside to Goldman's 12-month price target. "We also see a series of catalysts that can improve sentiment including clarity on CEO, strong refining margins, protection from Western Canadian crudes and ongoing returns of capital," Mehta wrote.

"When you run a business, if you keep hearing on the news that gas supplies are at risk, you've got to do something. It's not like you can start screaming and stamping your foot when they actually do halt flows for two hours a day," Checchi told Reuters. Higher prices contributed to the 16.2% rise in manufacturing turnover Italy reported in July on a calendar adjusted basis, but volumes also increased by 1.7%. "We invested 10 million euros to build two cogeneration plants and save 4 million euros this year," he said, adding Italcer saved another million by reducing the tiles' thickness to 8.5 from 10 millimetres. Italian business lobby Confindustria has warned of an "economic earthquake", saying the new government will struggle to offset the hit from energy prices on firms like Draghi managed to do without hurting Italy's fragile public finances.

☆ Goldman CEO David Solomon’s latest remix breaks up the bank’s struggling consumer finance business
▼ + stars: | 2022-10-17 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Goldman Sachs CEO David Solomon is planning his third major corporate reorganization since assuming control of the bank in late 2018, according to people with knowledge of the plan. That division, called Platform Solutions, will house Goldman's nascent digital corporate cash management business, recently acquired fintech GreenSky, and card partnerships with Apple and General Motors , according to the Wall Street Journal, which first reported the reorganization. Solomon has been under pressure this year as broad declines among financial stocks put shares of New York-based Goldman at the second-lowest valuation among big bank peers after perennial laggard Citigroup . That is according to Goldman's price to tangible book value ratio, a key metric followed by bank investors and analysts. That showing has led to rising questions about Solomon's decisions regarding his division heads, as well as internal criticism over Solomon's high-profile hobby as an international music DJ, CNBC and others have reported.

☆ Musk's Twitter deal has been a laggard on Tesla stock, says Wedbush's Dan Ives
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMusk's Twitter deal has been a laggard on Tesla stock, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director of equity research, joins 'Closing Bell: Overtime' to discuss Musk and Tesla shares sinking.

☆ Here's where the jobs are for September 2022 — in one chart
▼ + stars: | 2022-10-07 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The sector has been consistently adding jobs since the Covid restrictions in 2020 shuttered many bars and restaurants. However, the sector is still more than 1 million jobs below its pre-pandemic levels, according to the Labor Department. The Labor Department includes those sectors in a broader sector, which includes private education, and that larger group added 90,000 jobs for the month. But there were several areas that shed jobs last month, contributing to the slowdown in job gains. Retail trade and transportation and warehousing combined to shed 9,000 jobs, reflecting a weakness in consumer spending on goods.

☆ Many large-cap active managers are beating their benchmarks, despite 2022's market tumult
▼ + stars: | 2022-09-28 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

A volatile market is traditionally a strain on active managers as they navigate their clients' portfolios, but 2022 has proven to be an unconventional year for their operations. According to the SPIVA U.S. Scorecard, a new study by S&P Global, large-cap active managers are experiencing the best year against their benchmarks since 2009. Ganti said the declining market has brought losses across equities and fixed income, as well as rising rates and rising inflation. According to the SPIVA study, higher dispersion implies a greater possibility of generating above-average performance through judicious stock selection. Eighty-four percent of active managers underperform benchmarks after five years.

☆ Stocks week ahead: Intel is the Dow's biggest loser
▼ + stars: | 2022-09-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of Intel (INTC) are down more than 45% this year, making it the biggest dog of the Dow. Intel (INTC) is struggling despite well-publicized plans to build more plants in the United States and hire more at home. To be fair, Intel is not the only chip company that’s having a tough time this year. But longer-term, I think Intel will right the ship,” said Jeff Travis, portfolio manager of Oak Associates Funds. Travis does think that semiconductor stocks are still a good “secular growth industry” and that valuations are now attractive given how sharply the stocks have fallen.

GENEVA, Sept 23 (Reuters) - A United Nations committee found on Friday that Australia had violated the human rights of a group of islanders off its north coast by failing to adequately protect them from the impacts of climate change, such as by cutting greenhouse gas emissions. A spokesperson for Australia's energy and climate change ministry did not immediately respond to a request for comment. Torres Strait Islanders are part of Australia's indigenous population, along with Aboriginal people, who live on small clusters of low-lying islands dotted between Australia and Papua New Guinea. The case was filed when the former conservative government, seen as a laggard in the battle against climate change, was in power. Since then, parliament has passed legislation on emissions cuts and Climate Change and Energy Minister Chris Bowen has visited the islands this year.

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