Clean-energy stocks and exchange-traded funds are on a tear this year, sharply outperforming the broader market and traditional fossil-fuel investments. The clean-tech ETFs with the most powerful year-to-date rallies include Invesco Solar ETF TAN, -2.75%, up 81% through Thursday; First Trust NASDAQ Clean Edge Green Energy Index Fund QCLN, -1.84%, up 58%; and iShares Global
For the 55 calendar years from 1965 through 2019, Berkshire Hathaway’s stock rose at an 18.6% annualized pace, versus 11.8% for the S&P 500 SPX, -0.82% . (Both returns reflect reinvested dividends.) Warren Buffett can take credit for this, and he appears to be very much in charge of Berkshire. But, given that he just
Andrey Liscovich was at home in downtown San Francisco when he saw a tweet from the American politician Marco Rubio: “The #Russian invasion of #Ukraine is now underway.” He felt sick. The 37-year-old Ukrainian had spent most of the previous decade working far from his native country, including as chief executive officer of Uber Works,
Mykhailo Poperechnyuk was driving towards the town of Nikopol, in southern Ukraine, earlier this month when he saw a barrage of Russian rockets streaking across the night sky. The missiles were fired from what may be the most impregnable Russian positions along the entire front line: those around the Zaporizhia nuclear power plant just 5km
Since January 6 2021, Liz Cheney has been focused on a single goal: making sure Donald Trump never again occupies the Oval Office. On Thursday she came a step closer to achieving that ambition as she wrapped up the last in a series of live hearings investigating last year’s attack on the US Congress, and
The Howard family has been entwined with British power since before the days of Elizabeth I, so it was little surprise that Lord Greville Howard’s London townhouse was the base for the campaign to install Liz Truss as prime minister. But something was not right at Howard’s Georgian home on Lord North Street, near the
Donald Trump ignored repeated pleas from his family and closest advisers to bring a stop to the January 6 riots and instead spent hours watching the violence unfold on Fox News, a congressional committee has heard. In the final session of a summer of hearings, the panel investigating the insurrection used a primetime broadcast on
China’s middle-class consumers are fanning a new craze as they adapt to tougher economic times: a rush to buy soon-to-expire food and drink at deep discounts. According to public records, 119 businesses specialising in items approaching their expiry dates have been registered within the past 12 months, compared with 92 over the previous decade. Such
EDF is trying to alter a key subsidy contract to avoid missing out on billions of pounds in guaranteed revenue after the Covid-19 pandemic caused further delays to Hinkley Point C, the first new nuclear power station under construction in the UK in almost 30 years. The French utility is in negotiations with the British
Mattel is stocking up in anticipation of higher demand for Jurassic World action figures and Hot Wheels cars this holiday season, citing a 20 per cent increase in second-quarter revenues as evidence that inflation has not deterred parents from spending on toys. The California-based company behind Barbie dolls and Thomas & Friends trains reported its
Italy’s debt sold off on Thursday after prime minister Mario Draghi resigned and the European Central Bank sharply raised interest rates in its effort to tame blistering inflation. The yield on Italy’s 10-year government bond rose as much as 0.27 percentage points to almost 3.7 per cent as Draghi’s national unity coalition unravelled and the
Prescott Valley, Arizona-based nonprofit charter school operator Park View School filed for bankruptcy protection July 21 following years of financial mismanagement and a federal enforcement action targeting a fraudulent municipal bond offering. Bond holders have a lien on the school, which listed $9.4 million in liabilities and $9.7 million in assets, according to court documents.
The U.S. Court of Appeals for the First Circuit ruled Puerto Rico must pay $400 million eminent domain claims in its bankruptcy, despite the Oversight Board’s arguments to the contrary. The ruling will not affect the amount bondholders are legally owed but will affect how much money the Puerto Rico government has to make the
Municipals were weaker on the long end of the curve, largely ignoring the U.S. Treasury rally where yields fell double-digits Thursday, while outflows from municipal bond mutual funds returned. Equities made gains. Triple-A yields were cut up to three basis points while UST saw yields fall 12 to 16 basis points 10-years and in. Muni
Former President Donald Trump Jonathan Ernst | Reuters A former special New York prosecutor who quit a criminal investigation of ex-President Donald Trump after his boss declined to lodge charges at the time said that if Trump “had been Joe Blow from Kokomo, we would have indicted without a big debate.” “I believe that Donald
Pennsylvania has revamped its law governing public-private partnerships in the wake of a court decision that struck down a high-profile P3 bridge program. The new law voids the Pennsylvania Department of Transportation’s ability to impose tolls to pay for the $2.5 billion Major Bridge P3 Initiative. It also reduces the department’s ability to impose user
The owner of the UK’s largest steelworks, Tata Group, has threatened to shut down operations if the government does not agree in the next year to provide £1.5bn of subsidies to help it reduce carbon emissions. Tata Steel UK runs the Port Talbot plant and employs nearly 8,000 people across all its operations. As one
Christine Lagarde proclaimed a “rather historical moment” on Thursday after the European Central Bank’s rate-setters unanimously agreed to create a bond-buying tool the ECB president hopes will stop higher interest rates from sparking a new eurozone debt meltdown. By giving itself the power to buy unlimited amounts of the bonds of any country that it
Brendan Wallace, co-founder and managing partner of Fifth Wall in their Manhattan office. Source: CNBC Fifth Wall, a venture capital firm focused on real estate technology, is tripling down on its bet that climate tech will become an integral driver in the real estate space. It just announced commitments of half a billion dollars to
Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year. The 22 separate transactions on June 30, with a total value ranging from about
A rise in interest rates since last year will mean heftier-than-expected charges on electricity bills for Oklahoma ratepayers in the wake of the first of four state-sanctioned utility securitizations related to 2021’s Winter Storm Uri. The $761.6 million taxable bond sale through the Oklahoma Development Finance Authority closed on Wednesday, just days after a state