Year: 2020

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U.S. Stock Market Appears Most Vulnerable to Virus Shock

February 26, 2020 admin Comments Off on U.S. Stock Market Appears Most Vulnerable to Virus Shock

(Bloomberg Opinion) — The stock market with the most to lose from a wider coronavirus outbreak is the one in the U.S.Global markets sold off on Monday and Tuesday on reports that authorities are struggling to contain the virus, which has now spread to more than 30 countries and increasingly threatens the global economy. Until this week, the declines in global stocks seemed to be driven by proximity to the virus’s epicenter in China, but it’s becoming increasingly clear that few markets will escape harm if the virus isn’t contained.What’s not clear is which stock markets would suffer the sharpest …read more […]

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Rio CEO Says World Must Sacrifice Growth to Meet Climate Goals

February 26, 2020 admin Comments Off on Rio CEO Says World Must Sacrifice Growth to Meet Climate Goals

(Bloomberg) — Rio Tinto Group’s chief executive officer said the world must be prepared to sacrifice growth to achieve climate goals as the natural resources industry comes under increasing pressure to curb emissions.“The challenge for the world, and for the resources industry, is to continue the focus on poverty reduction and wealth creation, while delivering climate action,” Jean-Sebastien Jacques told investors on Wednesday. “This will require complex trade-offs.”Jacques said consumers, governments and shareholders must all be willing to make sacrifices — in the form of lower consumption, growth and returns — if climate targets are to be met. The mining …read more […]

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Tesla, Panasonic to End Solar-Roof Partnership at U.S. Plant

February 26, 2020 admin Comments Off on Tesla, Panasonic to End Solar-Roof Partnership at U.S. Plant

(Bloomberg) — Tesla Inc. and Panasonic Corp. plan to end their partnership in producing solar cells for rooftops at a facility in Buffalo, New York, according to people familiar with the matter.Panasonic is withdrawing from the venture as part of the company’s broader recent move to curtail money-losing businesses, one of the people said, asking not to be named because the decision isn’t public. The move comes after the two companies have struggled to ramp up production at the facility, known as Gigafactory New York, said the people. They will continue to produce car batteries together at the original Gigafactory …read more […]