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[ad_1] The Trump administration’s proposed overhaul of green energy tax credits has jolted the climate tech sector — and investors and founders in the ecosystem are scrambling to make fallback plans.Cleantech stocks tumbled in May after a bill cutting tax credits for clean energy incentives passed through the Republican-controlled House of Representatives.Now, founders and investors are concerned about the knock-on impact this could have on the country’s climate tech ecosystem, which was burgeoning under the Biden-era Inflation Reduction Act, or IRA. They told Business Insider that Trump’s bill has stifled startup growth ambitions, pushing them to scale back, pivot to…
[ad_1] New York CNN — Over the last few years, Starbucks pulled out 30,000 comfortable seats, installed hard wooden stools, blocked electrical outlets and turned stores into takeout counters for customers picking up orders off its mobile app. The changes backfired and customers left for local coffee shops and other chains and brewed more coffee at home. Now Starbucks is trying to win back customers looking to sit down for a cup of coffee by renovating 1,000 stores — 10% of its company-owned US locations—with comfy chairs, couches, tables and power outlets in the next year. The company aims to…
[ad_1] Washington CNN — President Donald Trump said last week that he will announce his pick to succeed Federal Reserve Chair Jerome Powell “very soon.” The problem is that Powell still has 11 months left until the end of his term. Trump remains frustrated as ever with the Fed because it has not yet lowered interest rates. He has relentlessly attacked Powell for months. But announcing a Fed chair nominee this far in advance — if he makes good on that plan — would be an unprecedented development in the central bank’s 111-year history. This person would effectively be acting…
[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England is facing growing calls to scale back its bond-selling programme later this year, as investors warn it risks pushing up borrowing costs further and adding to pressure on a weakening UK economy. The central bank is shrinking its portfolio of bonds accumulated during bursts of quantitative easing over the past decade and a half, as it attempts to bring its balance sheet back to a more normal size. Unlike the Federal Reserve and the European Central Bank, the BoE’s…
[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A decade ago, I asked officials at the New York Federal Reserve if I could peek at their gold reserves. They refused point blank. The reason? Fed officials have long taken pride in having the world’s biggest gold vault, dug 80ft down into Manhattan’s bedrock. But they prefer to keep it discreet, partly because many of the vault’s 507,000 bars belong to countries such as Germany and Italy. Silence was literally golden.Now, however, a discordant note has been sounded. In recent…
[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is head of total return strategies at Man AHLWhen US stocks lost 10 per cent of their value in April, investors faced a familiar dilemma: buy the dip or dodge a falling knife.Those who bet that losses would be reversed, say, by the promise of policy swerves, central bank intervention or an artificial intelligence revolution, triumphed. The pause by the Trump administration on “reciprocal” tariffs led to a one-month rebound that was both swift and sharp. Put differently, we…
[ad_1] In March, I visited a strange place in the high desert east of Reno, Nevada.This is where JB Straubel’s startup Redwood Materials is turning a vast hoard of old batteries into valuable ingredients that power electric vehicles and other new devices.The weirdest part: Redwood’s HQ was surrounded by massive new data center projects. Right opposite, a ginormous Google complex rose up from the scrub and brush. And the hills around were flattened like pancakes, awaiting even more of these beasts.The demand for data centers is exploding because of generative AI. The GPUs and other gear required to train and…
[ad_1] Hong Kong CNN — China on Friday signaled it would approve the export of rare earth minerals to the US, hours after White House officials said the two sides had reached a deal, in what would be a major breakthrough following weeks of negotiations over US access to the key materials. Rare earths – essential in everything from everyday electronics to fighter jets – had become a key focus of trade frictions between the world’s two largest economies in recent weeks as their tit-for-tat tariff escalation morphed into a supply chain struggle. “China will approve the export application of…
[ad_1] Jessica Testoni is a lifelong resident of Venice who runs a souvenir stall in the city center. Business Insider spoke to her ahead of Jeff Bezos and Lauren Sánchez’s wedding in the city. The following has been edited for length and clarity.I was born and raised in Venice, and I run a souvenir stall near the Doge’s Palace in the city’s touristic center. Before me, it was my father’s stall. We’ve been here a long time.Living here my whole life means that Jeff Bezos and Lauren Sánchez’s wedding isn’t the first celebrity wedding I’ve seen, and I hope that…
[ad_1] Henrik Werdelin has spent the last 15 years helping entrepreneurs build big brands like Barkbox through his startup studio Prehype. Now, with his new, New York-based venture Audos, he’s betting that AI can help him scale that process from “tens” of startups a year to “hundreds of thousands” of aspiring business owners. The timing certainly feels right. Mass layoffs across a variety of industries have left many workers reconsidering their career paths, while AI tools have markedly lowered the barrier to building digital products and services. At the center of that Venn diagram is Werdelin’s latest venture, with its…