Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. A top US financial regulator has said the $4.3bn penalty levied on Binance by authorities last month was set at a high level to act as a deterrent to other groups, after the world’s largest cryptocurrency...
Category: Bussiness
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Phasing out fossil fuels among options on table for COP28 climate talks
Countries at the COP28 climate conference are considering calling for a formal phase-out of fossil fuels as part of the UN summit’s final deal to tackle global warming, a draft negotiating text seen on Tuesday shows. The proposal is certain to spark heated debate among the nearly 200 countries attending the two-week...
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DP World sets target to decarbonise short-sea shipping
The Dubai-based global ports operator said at COP28 that it has joined the First Movers Coalition (FMC) by setting this target of 5.0 per cent by 2030. — KT file Published: Tue 5 Dec 2023, 8:42 PM DP World has announced that at least 5.0 per cent of its short-sea shipping would be powered by...
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Tesla’s clash with Swedish workers risks spilling over into a regional fight | CNN Business
London CNN — Danish dockworkers and drivers are threatening to stop transporting Teslas to neighboring Sweden if the carmaker does not reach a deal with striking Swedish workers within two weeks. Denmark’s 3F labor union said the planned “sympathy strike” is aimed at putting extra pressure on a Tesla (TSLA) subsidiary to recognize Swedish labor...
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Sir Robin Millar: the vinyl revival is exposing artists’ climate ‘hypocrisy’
Robin Millar has made a career from records; now he wants them to be eradicated. The newly knighted music producer and co-founder of artist management company Blue Raincoat Music believes the resurgence of vinyl is exposing hypocrisy among labels and artists. “I am baffled that no large record company has had the backing of a...
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Waters Earns Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index
News Summary: Waters recognized for its companywide policies and active commitment to LGBTQIA+ workplace equality and inclusion, scoring 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index. Top score for second year in a row validates Waters efforts to support all employees through dedicated programs, activities, and partnerships that foster belonging, allyship, and...
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:quality(70):focal(676x448:686x458)/cloudfront-us-east-1.images.arcpublishing.com/tronc/3J5R7ZUEGJGBZFWLBYEVMEOR4M.jpg "Chicago World Business CEO Michael Fassnacht stepping down")
Chicago World Business CEO Michael Fassnacht stepping down
Michael Fassnacht, a former advertising executive and the city’s top corporate pitchman, is stepping down as CEO of World Business Chicago in February. The decision, announced Tuesday, will end a nearly four-year run as chief marketing officer and then head of the city’s public-private economic development arm, where Fassnacht navigated the challenges of the pandemic,...
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Analysis: Nvidia is the stock of the year. Can it last? | CNN Business
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — It would be an understatement to say that it’s been a good year for...
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With $500 billion in reserves, LIC is the world’s fourth largest insurer
The Indian life insurer stood fourth on the list by S&P Global based on reserves. LIC has reserves of over $500 billion, as per the report. Sector watchers say that Asia is the next major market for growth for life insurance companies. Public sector life insurance behemoth, Life Insurance Corporation of India (LIC) is the...
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Whether to phase out or phase down fossil fuels is the question at COP28
After days of shaving off the edges of key warming issues, climate negotiators on Tuesday zeroed in on the tough job of dealing with the main cause of what’s overheating the planet: fossil fuels. As scientists, activists and United Nations officials repeatedly detailed how the world needs to phase-out the use of coal,...
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/cloudfront-us-east-2.images.arcpublishing.com/reuters/TFYLMNU43NJUXNSE4XATJM3WCU.jpg "US crypto industry lobby spending on track for new record in 2023")
US crypto industry lobby spending on track for new record in 2023
Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing Rights WASHINGTON, Dec 5 (Reuters) – The cryptocurrency industry was on track to hit a new record for federal lobbying spending, after a year in which firms scrambled to repair...
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/cloudfront-us-east-2.images.arcpublishing.com/reuters/Z2FV7EJZYVI2FEFPEL7YGKDILI.jpg "Focus: Exxon’s CEO charts new era for Exxon on an ambitious timeline")
Focus: Exxon’s CEO charts new era for Exxon on an ambitious timeline
Dec 5 (Reuters) – Exxon Mobil (XOM.N) CEO Darren Woods’ first five years at the oil company were marred by missed oil production targets, an investor rebellion and the company’s biggest-ever financial loss. Redemption came this year when – aided by a share price pumped up by high oil prices – he clinched a $60...