Nicola Adams and Katya Jones took to the floor for a quickstep
Nicola Adams and Katya Jones took to the floor for a quickstep
WASHINGTON (Reuters) -U.S. manufacturing activity slowed in November, with new orders retreating from their highest level in nearly 17 years, as a resurgence in COVID-19 cases across the nation kept workers at home and factories temporarily shut down to sanitize facilities. The Institute for Supply Management (ISM) on Tuesday warned that absenteeism at factories and their suppliers as well as difficulties in returning and hiring workers would continue to "dampen" manufacturing until the coronavirus crisis ended. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell on Tuesday urged Congress to provide more help for small businesses.
(Bloomberg) -- The second and final day of the Bloomberg Sustainable Business Summit focused on topics ranging from the business case for sustainability to building the workforce of the future.Speakers included chief executive officers from Maple Leaf Foods Inc. and Ball Corp., as well as academics and executives from asset managers and companies including Bank of America Corp. and Blackstone Inc.The Sustainable Business Summit is being organized by Bloomberg Live, a division of Bloomberg LP, the parent company of Bloomberg News. More information about the event can be found online and on the Bloomberg Terminal.Companies May Take 15 Years to Reap Return on Sustainable Efforts, Mars Executive Says (4:30 p.m. NY time)Companies may take as long as 15 years to get a return from their sustainability efforts, according to Mars Inc.’s chief procurement and sustainability officer.There aren’t many companies, particularly in the consumer-goods industry, that are getting a return from the consumer yet on their sustainability moves, Barry Parkin said. In the short term, those efforts are going to hurt the financial return, but it’s the “right thing to do” and sets companies up for the longer term, he added.“We hope that in time consumers will recognize the brands that are doing the right thing, but that’s extremely challenging at the moment,” Parkin said. “I think you’ve got to think 10, 15 years to do that.Many global companies are touting their sustainable efforts as they face pressure from shareholders, customer and employees. BlackRock Inc., the largest asset manager in the world, said this year it would make sustainability a top investment rationale. Microsoft Corp. plans to invest $1 billion to support work on carbon-reduction technologies and Citigroup Inc. vowed to spend the same amount on efforts to help close the racial wealth gap.Canadian Housing Agency Mulls Climate-Compatible Housing Bond (1:15 p.m. NY time)Canada Mortgage and Housing Corp. may form a climate-compatible mortgage bond to help direct capital to investors and homeowners with more environmentally friendly properties, said Steve Mennill, the Canadian housing agency’s chief climate officer.It also may create a climate-compatible index or a score that’s applied to mortgages that are being insured and securitized, he said.“You would probably look at the energy efficiency of the house itself, those that are highly energy-efficient, well-insulated and have heating and cooling systems that are low-carbon,” Mennill said.The bond would also take into account other factors such as whether a home is located in a high-density area since that affects things like the choice of transportation. The denser the area, the lower car usage is, Mennill said.Blackstone to Start Pushing Portfolio Firms to Cut Emissions by 15% (12:47 p.m. NY time)Blackstone Group Inc. plans in 2021 to begin pressing companies in its portfolios to cut their emissions by 15% over the next three years, according to the firm’s global head of ESG.“We have taken the 10 years of experience and learning that our chief sustainability officer and his team have accumulated, and we formalized it into a program that we can launch at scale across the broader portfolio,” said Alison Fenton-Willock, who’s also a senior vice president at Blackstone.Maple Leaf Sets Ambitious Environmental Targets (12:40 p.m. NY time)Maple Leaf Foods Inc. aims to be the most sustainable protein company on earth, said Chief Executive Officer Michael McCain.The Canadian meat and plant-based protein processor made its environmental sustainability commitments about five years ago, when it announced plans to reduce its “footprint” by 50% by 2025.Since then, Maple Leaf has lowered its emissions by 24% to 25%. The company joined 289 other companies around the world last year in making aggressive pledges in accordance with science-based targets.“It’s involved capital commitments along the way to improve efficiencies in everything from our manufacturing sites, but it also involves progress in some really advanced technologies in agriculture,” McCain said.Divestment From High-Carbon Emitters Is a Problem, Calpers Says (12:27 p.m. NY time)Divesting from high-carbon-emitting companies is problematic because doing so doesn’t help reduce emissions, said Anne Simpson, interim managing investment director at the California Public Employees’ Retirement System.If investors’ objectives are to dispose of assets to manage risks, then divestment is fine, she said.But “the problem is if we walk away and hand over our shares to someone else, the company is off the hook and we are still exposed to the risks of those emissions going up into the atmosphere,” Simpson said.Climate-change activists are pushing pension plans and large investors to rethink their fossil-fuel holdings. In January, the New York State Common Retirement Fund, the third-largest U.S. public pension fund, said it may divest from coal-mining companies that aren’t ready to move away from relying on thermal coal for profits. Others have said the best way to fight for cleaner energy is by remaining as an investor.BofA’s Finucane Says ESG Standards to Drive Change (11:20 a.m. NY time)ESG efforts represent a big business opportunity, but they require a lot of work for companies to meet more clearly defined standards, according to Anne Finucane, vice chairman of Bank of America Corp.It’s “quite difficult to whitewash or greenwash” third-party evaluations from groups such as the Task Force on Climate-related Financial Disclosures or Sustainability Accounting Standards Board, she said. “The other thing is: Did you reduce your carbon footprint? Did you, or didn’t you? You can’t whitewash that, you either did or you didn’t.”Still, the pandemic has slowed ESG efforts because companies are contending with broader economic challenges such as high unemployment.“It’s hard to start a small business or support a small business when it’s virtual or the doors are shut, so sure, it slows things down,” she said. “We’re trying to do a lot of workarounds,” including working with universities and committing funds to affordable housing and health care.ESG Investors Should Make Sure They’re Proud of Everything They Own, Rockefeller’s Shah says (10:50 a.m. NY time)Investors who say they incorporate environmental, social and governance issues into their investment analysis and decisions should be able to justify all of their holdings, said Rajiv J. Shah, president of the Rockefeller Foundation.“I would encourage all the investors here to just make a simple pledge that you’ll look at your portfolio and demand that you’re proud of everything you’re investing in from the perspective of its overall impact on society,” Shah said. “That’s ultimately what ESG investing is all about.”To make a positive impact, investors could take this a step further and invest in “very specific instruments that have unique social benefits,” such as social impact bonds, he said. They should also increase their level of ambition and “be even more active than simply checking the box on ESG investments as they run their portfolios,” he added.Executive Compensation May Hold Key to Achieving Carbon Neutrality, Berninger Says (10:30 a.m. NY time)Bayer AG, the giant German drugs and chemicals maker, is one of many companies committing to be carbon neutral. Its strategy for achieving that goal involves a combination of emissions measurement, compensation incentives for executives and a focus on new innovations, said Matthias Berninger, Bayer’s senior vice president of public affairs and sustainability.Berninger said when he joined Bayer two years ago he did a back-of-the-envelope calculation of the emissions in the firm’s vast supply chain and said it was comparable in size to those of India, the world’s second-most-populous country. “That just gave me an understanding of how big the systemic relevance of a company like Bayer is in the space,” he said.To help the company achieve its goal of becoming net zero by 2050, Bayer has teamed up with the science-based target initiative, which helps companies set greenhouse gas emission reduction targets consistent with the Paris climate accord. It also has tied the long-term compensation of its managers to decarbonization targets: 10% of the CEO’s salary, as well as pay for a number of top managers, will depend on the firm’s success in removing carbon emissions from its value chain, Berninger said.The “single most important impact that we can have is in innovation,” Berninger said. This could come in the area of addressing methane emissions from agriculture and removing carbon from the atmosphere, he said.Hype Over Green Hydrogen Has Firm Basis in Reality, Oxford’s Hepburn Says (7:25 a.m. NY time)Anticipation among environmentalists and clean tech enthusiasts that green hydrogen can play an important role in the decarbonization of the global economy is growing. There’s a lot of hype, but there is plenty of substance to the claims that hydrogen can fulfill a meaningful role, said Cameron Hepburn, a professor of environmental economics at the University of Oxford.“It’s serious in a way that it wasn’t, you know, the last time we had a big hydrogen hype,” said Hepburn. The key reason for this is the economics are now much more favorable for green hydrogen production, in part because renewable energy costs have decreased, he said.“It’s got some way to go before you would expect massive scale and a kind of complete takeover of the molecular components of the energy system, but it seems obviously that’s kind of where we’re headed,” he said.Europe, the most progressive jurisdiction for climate policy, is also encouraging the hydrogen revolution with its comprehensive green plan, said Claire O’Neill, managing director for climate and energy at the World Business Council for Sustainable Development. The region’s policy makers are doing a great service to hydrogen by paying a lot of attention to the “boring” but important parts of hydrogen production such as shipping terminals and storage facilities, she said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Page, star of Netflix's The Umbrella Academy, said he feels 'lucky'.
Real Madrid coach Zinedine Zidane vowed to keep fighting on after his side were left in danger of a shock early Champions League exit after Tuesday's 2-0 defeat at Shakhtar Donetsk. Madrid have failed to win their last three La Liga matches and head into their final Champions League game third in Group B after goals from Dentinho and Manor Solomon condemned them to a second defeat to the Ukrainians after losing 3-2 in October. Madrid host group leaders Borussia Moenchengladbach next Wednesday, while Shakhtar, who are second due to a superior head-to-head record over Real, visit bottom side Inter Milan.
Record was previously held by her sister, who was born from embryo frozen for 24 years
“Spending Power” is a series where we discuss trendy products from the young and diverse women entrepreneurs behind some of our favorite small businesses. New York-based brand DAWANG is the clothing line that brings together westernized streetwear and modern Chinoiserie. “I would say modern Chinoiserie is more of a lifestlye,” founder Daisy Wang tells In The Know.
Willow Sage Hart stole the show on "The Disney Holiday Singalong" when she joined her mom for a tender version of Nat King Cole's "The Christmas Song."
Find something (on sale!) for everyone on your holiday shopping list.
Today, Delaware Enhanced Global Dividend and Income Fund (the "Fund"), a New York Stock Exchange-listed closed-end fund trading under the symbol "DEX," declared a monthly distribution of $0.0542 per share. The monthly distribution is payable December 28, 2020, to shareholders of record at the close of business on December 18, 2020. The ex-dividend date will be December 17, 2020.
Our fantasy football analysts reveal their rankings for Week 13 to help you fill that difficult FLEX spot.
The Royal Botanic Gardens in London are host to a dazzling display.
The USWNT and U.S. Soccer won't go to trial in January anymore, but the hot button issue of the lawsuit is about to return to the fore.
The U.S. derivatives regulator issued a record 113 enforcement actions for corporate wrongdoing in 2020 - the most in the agency's history - the agency said on Tuesday, even as total monetary fines remained almost flat. The Commodity Futures Trading Commission (CFTC) had a total of $1.32 billion in penalties, the "fourth highest total on record and the third straight year-over-year increase," it said, although the figure is only slightly up on last year's $1.33 billion in fines. Most of that, however, was accounted for by the CFTC's bumper September enforcement action https://www.reuters.com/article/us-jp-morgan-spoofing-penalty/jpmorgan-set-to-pay-nearly-1-billion-in-spoofing-penalty-source-idUSKCN26E349 against JPMorgan Chase & Co, which paid out more than $920 million for manipulating commodity futures, the agency said.
In Hollywood these days, the only certainty is that nothing is certain. Already, the coronavirus pandemic has been responsible for some shocking developments in the film world: "Tenet" keeping its release date, "Wonder Woman 1984" debuting on HBO Max and "Mulan" eschewing U.S. theaters for Disney Plus, to name just a few. As the new […]
Republicans attempting to undo President-elect Joe Biden’s victory in Pennsylvania asked the U.S. Supreme Court on Tuesday to take up their lawsuit, three days after it was thrown out by the highest court in the battleground state. In the request to the U.S. Supreme Court, Republican U.S. Rep. Mike Kelly of northwestern Pennsylvania and the other plaintiffs are asking the court to prevent the state from certifying any contests from the Nov. 3 election, and undo any certifications already made, such as Biden’s victory. Biden beat President Donald Trump by more than 80,000 votes in Pennsylvania, a state Trump had won in 2016.
Frost, hail and snow will greet those who are able to venture to shops and cafes again after a month of lockdown in England. The start of winter is set to bring severe conditions across the UK, with weather warnings issued in some areas. Tuesday was the first official day of meteorological winter, and with it came a drop in temperatures and forecasts of snow and icy conditions in some places.
Former energy minister also said she was advised to ‘sue for unfair dismissal and gender bias’ after her presidency was terminated
Tavon Austin is attempting to make a comeback with Green Bay as the Packers look to add depth to their receiving group. The Packers announced Tuesday that they had signed Austin and released wide receiver Darrius Shepherd. Austin, the No. 8 overall pick in the 2013 draft of the St. Louis Rams, hadn’t played any NFL games this season.
Chelsea head to Seville having scored 22 goals in their opening 10 Premier League games - the joint-highest in the top flight - to sit third in the table. The Blues have tightened up their defence after a sloppy start to the season, and Frank Lampard's side are now among the favourites to lead a title challenge. There is still top spot to play for on Wednesday night, and Sevilla coach Lopetegui says the prospect of facing Chelsea's attack will be an extra incentive for his side - who have also qualified.
NEW YORK (AP) — “Papa!” screams a hospital worker, covered from head to toe in a Hazmat suit and PPE, in the opening moments of the documentary “76 Days." This is in the early days of the pandemic in Wuhan, back in January and February when the city of 11 million went into a 2 1/2-month lockdown and hospitals were overrun. The health worker's father has just died, and her agony at not being able to sit by his side is overwhelming.