Asia emits about half of the world’s global greenhouse gas emissions and that figure is set to increase if the right policies are not put in place. Asia’s future will be heavily shaped by climate change. The region has special vulnerabilities, including extensive coastal populations susceptible to sea level rise, large river basins prone to flooding, […]
The transition to global net zero to address climate change must be both ambitious and fair. Otherwise, it will not achieve its goals nor will it obtain the vital public support required over the long-term. Although ambitious decarbonization will provide widespread benefits across Asia, the policies required to make the transition will create winners and […]
Ramp, a developer of financial management software, said it plans to offer new artificial intelligence tools from Thursday, including a feature that can determine if a company is overpaying on its software contracts. The New York-based startup, which offers a corporate card platform used by over 15,000 businesses, has raised $1.4 billion from a slew […]
Meta Platforms on Thursday shared new details on projects it was pursuing to make its data centers better suited to supporting artificial intelligence work, including a custom chip “family” that it said it was developing in-house. The Facebook and Instagram owner said in a series of blog posts that it designed a first-generation chip in 2020 […]
U.S. regional bank stocks reversed premarket gains in early trading on Thursday, slipping back into negative ground after a recent rebound powered by hopes that the sector’s troubles were nearing an end. Western Alliance fell 1%, erasing premarket gains of 4.2%. The Phoenix-based lender had surged 27% till Wednesday on reporting strong deposit growth in an attempt to […]
Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest lenders to the beleaguered U.S. CRE and construction markets, have reduced their exposure to […]
The New York Stock Exchange and the Nasdaq said on Thursday they would cancel erroneous trades in the shares of IT solutions provider CDW Corp, which briefly plunged as much as 96% to $7 in premarket trading. They would bust all trades in the stock between 04:00 a.m. ET and 04:22 a.m. ET, at or below $162.85, […]
General Motors has said it will have the capacity to build 1 million electric vehicles in North America by 2025, but a slow ramp-up of its three U.S. battery plants could limit actual EV production to less than 600,000 at mid-decade, according to a forecast and analysis prepared for Reuters. Building more than half a million […]
Charles Schwab Corp is looking to raise up to $2.5 billion through a debt offering, the brokerage said on Thursday as more companies aim to benefit from investors trying to capitalize on a spike in yields. The Texas-based company will raise the debt in two parts, via notes due in 2029 and 2034 and will use […]
Billionaire real estate investor Sam Zell has died at the age of 81 due to complications from a recent illness, according to statements from the two real estate investment trusts (REITs) that he chaired. Known for his bets on distressed assets and for popularizing the REIT structure in the 1990s, Zell founded the company that […]
