Sovereign debt investors wanting to know how countries are dealing with climate change will soon have help from the ASCOR Project, launched Tuesday by a coalition of institutional investors. The project represents international institutional investors with a collective $5 trillion in assets, including BT Pension Scheme, London, Church of England Pensions Board, London, asset managers, green finance organizations and academics. ASCOR — Assessing Sovereign Climate-related Opportunities and Risks — is expected to be the first publicly available, independent, and open-source investor framework and database assessing the climate action and alignment of sovereign bonds, according to project officials. It will allow investors to assess individual country climate change approaches and progress. It will also help investors meet their own net-zero commitments and regulatory demands, including Task Force on Climate-Related Financial Disclosure reporting. The first phase of the project is a global public survey to get feedback from stakeholders in 25 pilot countries. Based on those responses, the project is expected to produce the ASCOR framework and final country assessments before the end of the year. Project officials are also planning an ASCOR roundtable with governments. Victoria Barron, head of sustainable investment at the £46.9 billion ($57.2 billion) BT Pension Scheme […]

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In an attempt to explain why the company had laid off 12,000 employees , Sundar Pichai, the CEO of Google’s parent company, Alphabet, said executives decided to slash jobs after a "rigorous review" of Google’s internal structures and organization. Pichai suggested that the company "hired for a different economic reality" than the one it faced and that the layoffs were necessary to set Google up for the future . But while Pichai, who made $280 million in compensation in 2019 , said he took "full responsibility for the decisions that led us here," he failed to elucidate those choices. He didn’t mention that during his time at the helm Google has been hit with billions of dollars’ worth of antitrust fines , been left in the dust by OpenAI’s ChatGPT despite "pivoting the company to be AI-first," and seen its core search product get steadily worse . And though Pichai later said at a company town hall that "all roles above the senior-vice-president level will witness a very significant reduction in their annual bonus," including his own , the vast majority of the pain from his missteps seemed to fall squarely on the shoulders of the 12,000 people who […]

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Mike Wilson Says the Rally Could be Over Economists at Goldman Sachs Group Inc. said the risk of a US recession is receding amid a persistently strong jobs market and signs of improving business sentiment. The Goldman team led by Jan Hatzius cut its estimate for the probability of a recession in the next 12 months to 25% from 35%. By contrast, Bloomberg’s survey of economists last month pointed to a 65% chance of a downturn within that time. Historically the typical chance of a recession in any 12-month period is roughly 15%. “Continued strength in the labor market and early signs of improvement in the business surveys suggest that the risk of a near-term slump has diminished notably,” Hatzius wrote. Employers added more than half a million jobs in January, well above expectations, according to data published Friday. Goldman also pointed to a rapid slowdown in inflation, and wage growth that’s cooling down toward a level that’s compatible with the Federal Reserve’s 2% inflation target. The outlook supports the Fed’s view that a so-called “soft landing” for the economy is achievable, and also its inclination to raise interest rates by another 25 basis points in both the March […]

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Though they are often set with the best of intentions, it’s not uncommon for New Year’s resolutions and the motivation to meet them to fall by the wayside after a few weeks or months into the new year. Busy personal lives and stressful workdays can end up getting in the way, with “just getting by” taking precedence over any push to accomplish more than the status quo. But according to the members of Young Entrepreneur Council , your year doesn’t have to go that way. Below, they each offer their top trick for making New Year’s resolutions work, especially as they relate to business, and explain why it’s possible to achieve your goals with the right plan in place. Members pictured from left to right. Photos courtesy of the individual members. 1. Find An Accountability Partner To Motivate You I think the greatest thing you can do is make yourself accountable by getting an accountability partner or by joining a mastermind group. This can be done by reaching out to another entrepreneur, colleague or business mentor whom you trust and respect. Having someone else who knows what you’re working on and actively checks in with you will help keep […]

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When you’re trying to develop a serious alliance with another company, it’s essential for every leader to closely evaluate the blindspots and keep their eyes open for any red flags. Test the waters lightly and take small steps before jumping into a full business commitment. Fostering an environment of communication that enables each party to be clear, transparent and comfortable about sharing their company’s core values, mission statement and long-term expectations is the best way to handle any negotiation or potential business collaboration before you sign the dotted line and have to deal with buyer’s remorse. For further ideas on how to cultivate a win-win relationship with another company or organization, apply these 12 suggestions, courtesy of members from Forbes Business Development Council . Members pictured from left to right. Photos courtesy of individual members. 1. Work In A Transparent Manner To Build Long-Term Trust Cultivating these relationships can be done by focusing on mutual benefits and building trust. This can involve identifying shared goals and objectives, working to align strategies and resources and engaging in open and honest communication. By working together in a collaborative and transparent manner, biz dev leaders can help create mutually beneficial partnerships that […]

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for . As a business owner, you probably have a business checking account you use to handle payroll or write company checks. A business savings account can come in handy as well, since it provides you with a place to store cash that’s easily accessible, while earning some interest on the funds. Finding the right business savings account is important whether you’re setting aside money for business goals or want to have funds on hand for unexpected company expenses. What is a business savings account? A business savings account is a liquid deposit account in which you can set aside business funds for future use. Like a personal savings account , a business savings account typically earns a modest amount of interest, and its offerings may include an ATM card, a mobile banking app and the ability to transfer money to and from other accounts. When shopping for a business savings account, factors to consider include the annual percentage yield (APY), minimum deposit and balance requirements, fees that are […]

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Illustration: Aïda Amer/Axios Black small-business owners feel more optimistic about this year than their peers, Goldman Sachs’ latest 10,000 Small Businesses Voices survey shows. Why it matters: Despite higher operating costs and systemically greater financing obstacles, some Black small-business owners surveyed in late January say they’ve emerged from the last few years more confident in their ability to manage through challenges and that they see more growth opportunities than they have in the past. “Not only having to face the business challenges, but the health challenges and then the societal challenges …whatever we face next, it’s a drop in the bucket compared to what we’ve been through from 2020 to late 2021,” Jessica Johnson-Cope, owner of Johnson Security Bureau in New York, tells Axios. By the numbers: 81% of Black small-business owners are optimistic about the financial trajectory of their business in 2023, compared to 68% of the overall surveyed population, according to results shared first with Axios. 78% of Black business owners expect their business to increase profits, compared to 60% overall. 67% expect their business to create new jobs, compared to 51% overall. 67% are currently hiring full-time or part-time employees, compared to 59% overall. Yes, but: […]

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New York CNN — AMC Theaters is changing the way it charges for seats. America’s largest movie chain announced that the prices of a ticket will now be based on seat location, meaning seats in the front will be cheaper while more desirable seats in the middle will now cost more. The ticket pricing initiative, called Sightline at AMC, will roll out at all of its roughly 1,000 movie theaters by the end of the year. Regal Cinemas is closing 39 more movie theaters. See the list Three pricing tiers will soon be offered. For example, the highest-end “Preferred” tier are in the middle of the theaters and will be priced at a “slight premium” compared to its “Standard” tier, which the theater chains says will remain the most common choice and will be sold for the “traditional cost of a ticket.” The third tier is called “Value,” which are seats in the front row of theaters and will cost less than than its “Standard” tier. “Sightline at AMC more closely aligns AMC’s seat pricing approach to that of many other entertainment venues, offering experience-based pricing and another way for moviegoers to find value at the movies,” said Eliot […]

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California-based Berkley International , which designs, manufactures and assembles retail displays and packaging, is investing in its Northwest Arkansas operations with new office space and new equipment. Co-founder and CEO Eric Berkley said the family-owned business recently signed two new leases in Benton County — a two-person office inside the Ledger in downtown Bentonville (140 square feet) and design space inside a 41,510-square-foot building at 1001 S. 52nd St. in Rogers (9,896 square feet). Berkley said the company spent more than $250,000 on two pieces of new equipment it will use in the Rogers design center, which will come online this spring. Those two offices will complement a 78,000-square-foot Lowell warehouse at 316 Commercial Ave. Berkley, who splits time between southern California and Northwest Arkansas, said the region’s entrepreneurial spirit influenced the company’s investment. He said the Los Angeles-based company first opened a Northwest Arkansas office in 2016. Approximately half of its 51 employees work in the region. Eric Berkley “[Entrepreneurial spirit] is one of our core values, so we love the talent and opportunities in Northwest Arkansas,” Berkley said. “I’ve traveled the world and never seen a town like Bentonville. It gives you a small-town vibe that is […]

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Copy This Embed Code: Ad CORPUS CHRISTI — The Corpus Christi Downtown Management said they’ve got a good momentum going when it comes to attracting business to the area. “The key word is potential,” Richard Lomax, the president of Water Street Restaurants, said. “Everyone is always like. God downtown has so much potential. But you and I are standing right here, and there’s a marina and a sunrise. Where else in the U.S. can you find cheap real estate on the water?” Between the mid 2022 and the beginning of February 2023, businesses like Cafe Calypso, Hype Bike, Hybrid Records, All Good Fitness, Pharmacy Grill, Produce and V.N.P. Gallery opened. Alyssa Barrera Mason, the director of the Downtown Management District, said most of them are owned by locals. “People just wanting to make an impact on the way that Corpus Christi looks and realizing that they have an opportunity to do it here in their hometown,” Mason said. Business owners said the increase in foot traffic is welcome. “It was crazy just seeing, like, more people walking up and down the block,” Carlos Cooper, the owner Hybrid Records, said. “Especially people that we haven’t seen before.” Hybrid Records opened […]

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