The world’s richest sovereign wealth fund severed ties with 32 coal mining companies, removing them from its portfolio in 2014, based on the risk of facing regulatory action on climate change. “Norway’s Government Pension Fund Global (GPFG), worth $850bn (£556bn) and founded on the nation’s oil and gas wealth, revealed a total of 114… Keep reading →
Luxury electric car manufacturer and Wall Street darling Tesla announced 3rd quarter earnings yesterday that contained mixed results. The company reported a record 5,500 Model S deliveries, which beat its own expectations, but the financials were mixed. “The company’s earnings, excluding special charges, came in at $16 million, or 12 cents a share, just ahead… Keep reading →
Bad day for Venezuela, and for former president Hugo Chavez’s legacy: A massive power outage cut off electricity for almost 70% of the country’s population yesterday. “A lack of investment and training in the electric grid has contributed to more than 500 blackouts registered in Venezuela as of June this year.” [Christian Science Monitor] And… Keep reading →
The trouble with economic booms is that “crazy” is largely a matter of timing. For anyone who was paying attention in the 1980s, the idea that Brazil, with its runaway inflation problems, would emerge as a powerhouse driver of global economic growth while developed economies struggled in the mid to late 2000s would have seemed… Keep reading →
