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EXCLUSIVE-Duke Energy boosts capital spending to fight climate change

October 9, 2020

By Ross Kerber

BOSTON, Oct 9 (Reuters) – Top U.S. utility Duke Energy Corp DUK.N plans billions of dollars of new spending this decade as it ramps up efforts to slash greenhouse gas emissions, executives told Reuters.

The move comes amid growing pressure from Democratic politicians and activist investors for power producers to reduce their hefty contribution to climate change.

“If you’re going to pursue the more aggressive carbon-reduction targets, you’re going to retire coal earlier, you’re going to be replacing it earlier with renewables, batteries, storage etcetera,” said Duke Chief Financial Officer Steve Young in an interview.

“That pushes up the capital profile,” he said.

According to Young and to an investor presentation to be made on Friday, Duke will boost projected capital spending by $2 billion to $58 billion for the period from 2020 to 2024, and projects a capital plan “in the range of $65 billion

Callum Smith wants 2020 fight even without mega money deal

October 9, 2020

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WBA world super-middleweight champion Callum Smith has said he hopes to fight before the end of 2020, even if it is not the mega money fight he wants.

Smith (27-0, 19 KOs), 30, from Liverpool, England, is still waiting on news of when he will fight again after last boxing in November and has been linked to a fight with Mexican Saul “Canelo” Alvarez.

“There is no news at the minute, I’m in regular contact with [promoter] Eddie Hearn and we’re trying to get something sorted for the

Suez Vows to Fight Veolia’s $13 Billion Takeover Project | Investing News

October 6, 2020

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PARIS (Reuters) – French waste and water firm Suez

said on Tuesday it would do everything it could to avoid being taken over by rival Veolia

after the latter succeeded in buying 29.9% of the company and launched a tender offer on the rest of the capital.

“Suez takes note of the purchase by Veolia of 29.9% of its capital in a hostile manner and under unprecedented and irregular conditions”, Suez said in a statement.

“The group confirms that it will use all the means at its disposal to protect the interests of its employees, its clients and all its stakeholders, in particular to ensure equal and fair treatment of all its shareholders and avoid a creeping takeover or de facto control”, it added.

Veolia said on Monday it would launch its tender offer at 18 euros a share, the same price it offered power group Engie

for the 29.9%

Could heatwave insurance be a new weapon in climate fight? | Economy News

October 5, 2020

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As health workers carried out coronavirus tests in public squares in Washington, DC, in July, work had to be suspended as temperatures in the paved spaces soared to what felt like 110 degrees Fahrenheit (43C).

The heat-wilted city of Phoenix in the US state of Arizona, meanwhile, has already seen planes delayed from taking off when airport temperatures hit 120F (48C). And soaring thermometers in Los Angeles this summer led tens of thousands to lose power for days.

In Greece, rising heat is now “one of our city’s greatest challenges”, Athens Mayor Kostas Bakoyannis told an online event in August.

Longer and hotter heatwaves driven by climate change are becoming an increasingly dangerous – and costly – menace, with sweltering cities often picking up the tab for everything from repairing melted roads to running more cooling centres.

But a new way to cut the financial risks is emerging: heatwave insurance.

Jalen Ramsey and Golden Tate had a very personal reason for their fight after Sunday’s game

October 5, 2020

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Los Angeles Rams cornerback Jalen Ramsey and New York Giants wide receiver Golden Tate got into a fight seconds after Sunday’s game at Sofi Stadium and had to be separated by teammates before things got too crazy.

a group of people around each other

© Provided by For The Win

Now we know what this fight was apparently about, and it was very personal – Ramsey has two kids with Tate’s sister, Breanna, and the couple broke up last year. Following the breakup, Tate told the New York Post: “I’m not happy at all with the disrespect that he’s shown towards my sister, and the things he’s done in the past.”

Ramsey responded to that last year by saying:

“We live in a society where ignorant people feel that they are owed an explanation of what goes on in our day-to-day lives … and why we make the decisions we make … we don’t have to answer

Right To Repair Or A Fight For Survival?

October 4, 2020

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Image of a vehicle highlighting software and artificial intelligence. — Vehicles draw together mechanical parts with an increasingly broad array of electronic componentry … [+] and networks linked by computer software embedded with artificial intelligence.

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In 2012 when proponents were negotiating what became the landmark 2013 Massachusetts automotive right to repair legislation, today’s leading producer of electric vehicles, Tesla, sold just over 3,000 cars. This year, estimates suggest that Tesla may deliver over 500,000 vehicles. Potentially accelerating the shift to advanced technology vehicles further, California announced last month an effort to phase out the sale of new gas-powered passenger vehicles by 2035. How does any of this relate to the 2020 Massachusetts Question 1 ballot initiative looking to augment right to repair?

Over the past several decades, vehicles have moved from being primarily mechanical systems, with thousands of moving parts, to systems that draw together fewer mechanical pieces with a broad array of electronic componentry and networks linked by

As Women Fight to Maintain Progress, Companies Need to Reimagine How They Operate

September 30, 2020

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For years, American corporations tried to increase job flexibility with scant success. The pandemic ushered in more flexibility, along with added responsibilities and few boundaries. For women, who typically shoulder more duties at home regardless of their breadwinning status, that has felt less like freedom than pressure to be always on.

We’re seeing the consequences in our sixth annual Women in the Workplace study, a joint effort by McKinsey & Co. and LeanIn.Org that is the largest annual benchmark of women’s progress in American corporations. More than one in four women say they may now quit or scale back their jobs. Among women at the managerial level and above, 30% want to step down or out. As a group, women could lose more than five years of gains across the career pipeline.

This is not simply a pause on the road to a more equitable workplace. This year’s report finds

Tokio Marine Indonesia Implements Shift Technology To Fight Auto Insurance Fraud

September 29, 2020

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Shift’s Force Fraud Detection Solution to Support Insurer’s Overall Fraud Fighting Initiatives

PARIS and BOSTON, Sept. 29, 2020 /PRNewswire/ — Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, today announced that PT Asuransi Tokio Marine Indonesia (“Tokio Marine Indonesia”) has deployed Shift Technology’s Force fraud detection solution. As a result, the technology will become a crucial element in the insurance carrier’s overarching fraud prevention strategy.

Shift Technology (PRNewsfoto/Shift Technology)

Tokio Marine Indonesia is one of the largest general insurers in the country. Guided by its core mission “To be a Good Company” and driven by values that put customer satisfaction as a main priority, the insurer was seeking a solution that could serve a dual purpose and not only spot suspicious claims, but also help give claims professionals more confidence in rapidly processing legitimate claims. Utilising this technology benefits the

Air France Leads Tax Pushback in Climate Vs Recovery Fight | Investing News

September 28, 2020

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By Laurence Frost and Kate Abnett

PARIS/BRUSSELS (Reuters) – Air France-KLM is battling new green taxes on top of the coronavirus crisis – in a test of growing policy tensions between righting Europe’s crippled airlines and delivering on climate goals.

The Franco-Dutch group, sustained by 10.4 billion euros ($12.2 billion) in state-backed loans, faces higher duties in both home markets as well as EU plans to hike airlines’ carbon costs.

The struggle unfolding around Air France-KLM is part of a larger reckoning for carbon-intensive industries as efforts to tackle global warming spawn more taxes and regulation.

While campaigners say those are long overdue, crisis-hit airlines warn their timing and severity will cost thousands more jobs and hurt development of lower-carbon technologies.

New taxes “do not support emissions reductions”, said Air France-KLM Chief Executive Ben Smith in response to proposed increases to French passenger duties.

“In fact it’s counterproductive and would

FBD changes wording of insurance policies as fight over virus payouts plays out

September 27, 2020

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Insurer FBD is changing the wording of its commercial insurance policies to exclude communicable diseases like Covid-19 from coverage, as the company faces a Commercial Court battle with publicans over its business interruption coverage during the pandemic, the Sunday Independent reveals.

Starting on August 1, FBD began updating pub trade policies to reflect the company’s position that Covid and other communicable diseases should not be covered by business interruption insurance. The new boilerplate language is being rolled out across other commercial insurance products on an ongoing basis.

The changes come as FBD faces a test case on October 6th against four pubs over the refusal to pay out claims for business closures during the pandemic. The result will help determine if the insurer will have to pay claims for 1,300 business customers that were forced to close because of public health advice.

Job losses in the air as tourism is