• Amazon employee on climate strike: Tech firms have 'been complicit for too long'
    Yahoo Finance

    Amazon employee on climate strike: Tech firms have 'been complicit for too long'

    Amazon and Google employees hit the streets to pressure tech giants to do more to fight climate change.

  • Nintendo's $199 Switch Lite packs plenty of power into a small package
    Yahoo Finance

    Nintendo's $199 Switch Lite packs plenty of power into a small package

    The Nintendo Switch Lite is a smaller, lighter, more portable, and less expensive version of the best-selling Switch.

  • Warren Asks Congress to Impeach Trump: Campaign Update
    Bloomberg

    Warren Asks Congress to Impeach Trump: Campaign Update

    (Bloomberg) -- Elizabeth Warren pressed Congress to “step up” and begin impeachment proceedings against President Donald Trump, after reports that the president asked Ukraine to investigate Joe Biden’s son.“What the president has now demonstrated is that he thinks it’s pretty clear, he doesn’t have to follow the law and in fact can continue to commit high crimes and misdemeanors,” Warren told reporters in Cedar Rapids, Iowa, on Friday. “And that is invite and profit from foreign interference in our election. It’s time for Congress to step up and begin serious impeachment proceedings against this.”Trump held a phone call on July 25 with Ukraine’s new president, where he pressed Volodymyr Zelenskiy to investigate Biden’s son, Hunter, according to a person familiar with the call.Biden condemned the reports and called on Trump to release the transcript of the Zelenskiy phone call. “It means that he used the power and resources of the United States to pressure a sovereign nation -- a partner that is still under direct assault from Russia -- pushing Ukraine to subvert the rule of law in the express hope of extracting a political favor,” Biden said Friday in a statement.A majority of House Democrats wants to begin impeachment proceedings, though Speaker Nancy Pelosi has so far refused to move forward, fearing it would be harmful to Democratic candidates seeking re-election in Republican-leaning areas in 2020. There also is little prospect that any effort would be successful in the Republican-controlled Senate.DNC’s August Fundraising Lags Far Behind GOP’s (8:44 p.m.)The Democratic National Committee raised $7.9 million in August and ended the month with $8.2 million cash on hand, according to its latest filing with the Federal Election Commission.The DNC’s totals lagged far behind its GOP counterpart, which raised $23.5 million in the same period, and had $53.8 million in the bank at the end of August. The party holding the White House usually has an advantage in fundraising.Small-dollar donors, those giving $200 or less, contributed $2.8 million of the DNC’s total. The party also got $3.1 million from deeper-pocketed donors, and $1.2 million for accounts that can only be used to pay for its nominating convention, legal expenses or party building.The DNC ended the month with debts of $7.3 million compared with none for the GOP. -- Bill AllisonGillibrand Relaunches PAC for Female Candidates (4:52 p.m.)Kirsten Gillibrand’s presidential campaign may be over, but she still wants to advocate for women.Her campaign said she would relaunch her Off the Sidelines PAC, which she founded eight years ago to help elect women at all levels of government. During her run for president, the PAC became mostly dormant, but now she is committed to raising at least $1 million for female candidates.“Setting that example is a responsibility I take seriously,” Gillibrand said in a statement, referring to setting an example for young girls interested in politics, “so while my presidential campaign may have ended, I’ve never felt more clarity of purpose.” -- Emma KineryTrump Call Could Be 2020 Echo of Clinton Emails (3:15 p.m.)Has Donald Trump found the 2020 equivalent of Hillary Clinton’s emails?The details of a whistle-blower complaint from the intelligence community about the White House remain murky, but some of the details may suggest a reprise of the scandal over Clinton’s improper use of a private email server during the 2016 election. Trump repeatedly suggested she had deleted a huge trove of emails to cover up wrongdoing. This time, the target could be Democratic frontrunner Joe Biden via the dealings of his son, Hunter, in Ukraine.According to reports in the New York Times and the Washington Post, the whistle-blower complaint partly involves a phone call in which Trump made some kind of commitment to a foreign leader that involves Ukraine. In tweets, Trump maintained that the call was a “perfectly fine and respectful conversation” and referred to “’highly partisan’ whistle-blowers.”And speaking at the White House on Friday, Trump said “it doesn’t matter” if he asked Ukraine to look into Biden and argued it should be done regardless. “Someone ought to look into Joe Biden,” he said.To add to the intrigue, Trump lawyer and confidant Rudy Giuliani told CNN on Thursday that he had asked the Ukrainian government to open an investigation into Hunter Biden’s business dealings in that country. “Of course I did,” he said Thursday.For months, Trump has argued that Biden improperly pressured Ukraine’s top prosecutor to drop an investigation into a company that Hunter Biden was involved in. There’s no evidence to back up that assertion, and the current prosecutor has said that he does not “see any wrongdoing” by either Biden.In tweets, Trump maintained that the call was a “perfectly fine and respectful conversation” and referred to “’highly partisan’ whistle-blowers.” And anyway, Giuliani argued in a tweet, there would be nothing wrong with telling Ukraine’s president “he better investigate corruption that affects US.” -- Ryan Teague BeckwithBernie Sanders Going All-Out to Win Iowa Caucus (1:46 p.m.)Bernie Sanders is going all out in Iowa in his bid for the Democratic presidential nomination.Sanders lost the state to Hillary Clinton by the slimmest of margins in 2016 -- 49.6% to 49.9%. This time, he says his campaign has so far made 1 million contacts with Democratic voters in Iowa.His campaign says it is using an army of 25,000 organizers and volunteers who have phoned and texted voters, or knocked on their doors. In addition, the campaign said it held more than 1,300 organizing events with Iowa supporters. In the next five days, Sanders’ backers are hosting more than 165 parties, where volunteers will train with campaign field staff in preparation for the Feb. 3 caucuses.On Saturday, Sanders will begin a four-day swing across the state dubbed the “Bernie Beats Trump tour.” It will take him to four counties that went for Barack Obama in 2008 and 2012, then flipped to Trump in 2016. Sanders aims to show that he can bring voters who have turned on the Democrats back into the fold.Recent Iowa polls have shown frontrunner Joe Biden with a double-digit lead over his closest rivals, Sanders and Elizabeth Warren, who are trading off for second place depending on the poll. An average of recent polls by Real Clear Politics had Biden with 28.5% support in the state, while Warren had 18% and Sanders had 17.5%. -- Laura LitvanU.S. Ready to Repel Cyberattacks in 2020 (5:00 a.m.)Defense Secretary Mark Esper said the American military is preparing to repel foreign governments’ attempts to interfere with the 2020 elections.“Our adversaries will continue to target our democratic processes,” he said at a conference hosted by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency on Thursday. “We must remain adaptable and continue to advance our capabilities. This is already happening in preparation for the 2020 elections.”Esper did not specify which countries might be involved in the cyberattacks, but then-Director of National Intelligence Dan Coats warned early this year that adversaries view 2020 as an “opportunity to advance their interests” and may seek to hack election systems. And a Trump administration official said in June that Russia, China, and Iran are already trying to manipulate U.S. public opinion before 2020.“Influence operations against the American public are now possible at a scope and scale never before imagined,” Esper said. “The Department of Defense has an important role in defending the American people from this misinformation, particularly as it pertains to preserving the integrity of our democratic elections.”Kevin McAleenan, the Department of Homeland Security’s acting director, warned that the threat has intensified since the last presidential election. He said at the conference that “2018 was maybe a playoff game, 2020 is the Super Bowl with election security.” -- Alyza SebeniusCOMING UPMSNBC will host a climate change forum for a second day Friday featuring Cory Booker, Steve Bullock, Pete Buttigieg, Tom Steyer and Republican primary challenger Bill Weld. Michael Bennet, Julian Castro, John Delaney, Tim Ryan, Bernie Sanders, Marianne Williamson and Andrew Yang spoke Thursday.The United Food and Commercial Workers union will host forums in Iowa and Michigan with Democratic presidential candidates on Sept. 29 and Oct. 13. Bennet, Biden, Booker, Buttigieg, Kamala Harris, Sanders and Elizabeth Warren have confirmed that they will attend.\--With assistance from Alyza Sebenius, Laura Litvan, Ryan Teague Beckwith, Emma Kinery and Bill Allison.To contact the reporter on this story: Misyrlena Egkolfopoulou in Washington at megkolfopoul@bloomberg.netTo contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, Max Berley, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Fox, Marvel Executives Among Guests at State Dinner for Morrison

    (Bloomberg) -- Fox Corp. Chief Executive Officer Lachlan Murdoch and Marvel Entertainment Chairman Isaac Perlmutter were among those attending President Donald Trump’s second State Dinner on Friday, in honor of Australian Prime Minister Scott Morrison.The guest list included a number of conservatives from government and businesses. Perlmutter and his wife, Laura, who also attended, are Trump supporters, and Murdoch’s Fox News is a favorite of the president’s.Guests also included former Secretary of State Henry Kissinger and Shemara Wikramanayake, CEO of Australian financial services giant Macquarie Group Ltd. Golfer Greg Norman, Supreme Court Justice Clarence Thomas and Chick-fil-A CEO Dan Cathy attended as well.The president’s personal lawyer, Rudy Giuliani, was there as well, after spending two days defending Trump amid questions over whether he put inappropriate pressure on Ukraine to investigate Democrat Joe Biden.The dinner followed a day of meetings and a joint press conference with Morrison, a like-minded conservative leader.Morrison and his wife were welcomed Friday morning in a ceremony that included nearly 500 U.S. armed forces members.Before the dinner, Trump toasted Morrison. “May our heroes ever inspire us,” Trump said.Friday’s menu includes a vegetarian ravioli served with a lemon-cheese emlusion and roasted and fileted Dover Sole. The White House is serving an apple tart with ice cream for desert, and wines from the Spring Mountain vineyard in Napa Valley in California and Argyle Winery in Oregon.The only other State Dinner Trump has hosted was for French President Emmanuel Macron in April 2018. The last time an Australian leader received such a welcome in Washington was in 2006 when John Howard was hosted to a State Dinner by his close friend George W. Bush.Topics of discussion between Trump and Morrison included China trade and Australian assistance countering Iran as the U.S. weighs a response to the recent attack on Saudi Arabia’s oil facilities that American officials have blamed on the Islamic Republic. The leaders also planned to discuss joint efforts to address North Korea’s nuclear weapons program.(Updates with Trump comment in seventh paragraph.)\--With assistance from Josh Wingrove.To contact the reporters on this story: Justin Sink in Washington at jsink1@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Justin Blum, Kevin WhitelawFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Trump, Giuliani Press for Dirt on Biden Despite Ukraine Rebuff
    Bloomberg

    Trump, Giuliani Press for Dirt on Biden Despite Ukraine Rebuff

    (Bloomberg) -- President Donald Trump and his lawyer, Rudy Giuliani, keep repeating allegations that former Vice President Joe Biden did something dirty in Ukraine -- without any proof. Officials in that country haven’t helped clear up the confusion with sometimes conflicting statements over what they might be looking into.Prosecutors in Ukraine, however, aren’t investigating Biden and have no evidence of wrongdoing.No matter. Trump and Giuliani have been intent on pressing for an inquiry. They’ve talked about it publicly. And Trump talked about it with the Ukrainian president in a July phone call that’s now the subject of intense scrutiny. Trump pressed his Ukrainian counterpart to investigate Biden’s son Hunter, according to people with knowledge of the call.Giuliani has at times, though not consistently, admitted pressing the Ukrainians to investigate Biden, the leading Democratic rival to Trump for the 2020 presidential election, and his son.The matter is bubbling up again because of a whistle-blower in the U.S. intelligence community. The contents of the whistle-blower‘s complaint remain secret, but reports have surfaced linking it to Trump’s communications with a foreign leader. And Democratic lawmakers, who were already asking whether Trump’s team had improperly leaned on Ukraine for political gain, are now tussling with the administration to find out just what raised an alarm.Giuliani has claimed for months that as vice president Biden acted to help his son. It’s not disputed that Biden pressured Ukraine to fire its top prosecutor in 2016 and threatened to withhold aid as part of a U.S.-European anti-corruption effort.Giuliani contends -- without offering evidence -- that Biden’s motivation was to stop an investigation into the owner of a natural gas company, Burisma, where Hunter Biden sat on the board. On Thursday night, Giuliani told CNN that his goal was to get the Ukrainian government to investigate corruption “and I’m proud of it.”Biden said Friday in Iowa that “not one single” media outlet has given Trump’s allegations of impropriety any crediblity. “So I have no comment other than that the president should start to be the president,” Biden said.Ukraine is in a delicate position. It has a new president with no prior political experience. It’s highly dependent on the U.S. for political support and military aid. Kyiv also wants U.S. support in the run-up to peace talks later this month over the eastern area controlled by Russian-backed separatists, who took over parts of the country in 2014. It can hardly afford to offend leaders in the U.S.The new president, Volodymyr Zelenskiy, will meet with Trump at the United Nations next week, a senior U.S. administration official said on Friday.Shelved InvestigationBloomberg News reported in May that prosecutors in Ukraine had already shelved the investigation into Burisma’s owner by 2015. That suggests Biden and his son didn’t stand to benefit from the prosecutor’s ouster. In addition, Vitaliy Kasko, a former deputy prosecutor who had once pursued the case against Burisma’s owner, told Bloomberg in May that there had been no U.S. pressure to close the case.Biden was indeed active in Ukraine. His threat to withhold $1 billion in loan guarantees was contingent on the removal of prosecutor-general Viktor Shokin, who was widely viewed as failing to tackle rampant corruption. Many world leaders and the European Union were demanding Shokin’s dismissal. Shokin denied accusations of wrongdoing.Yet Giuliani has continued to press Ukraine to probe Biden. He planned to visit Ukraine in May to meet with Zelenskiy and discuss reopening the case against Burisma. He canceled the trip at the last minute after public criticism that he was meddling in foreign affairs for possible political gain.Giuliani did, however, meet with a key Zelenskiy aide, Andriy Yermak, in Madrid in August, to press for an investigation into possible Biden conflicts, according to the New York Times.That didn’t ensure smooth relations. In August, the U.S. temporarily blocked $250 million in promised military aid to Ukraine.Zelenskiy announced last week that the U.S. had finally released the funds, and added $140 million, without specifying why it had received more or how it would be used. The Ukrainian president didn’t say whether the U.S. had made any demands and had only words of praise for Trump.“We had several talks,” Zelenskiy said at a conference in Kyiv. “We have very good relations with our strategic partner, the U.S. And I am thankful to them for their support.”Investigating PressureThree congressional committees announced on Sept. 9 that they had underway a joint investigation into whether Trump and Giuliani improperly exerted pressure on the Ukrainian government. In letters to the White House and State Department, they added that they were focusing, among other things, on Trump’s July 25 phone call with Zelenskiy.House Intelligence Chairman Adam Schiff, speaking to reporters on Friday, said the committees’ investigation predated the whistle-blower complaint. A statement by Schiff on Sept. 13 about his efforts to get access to the whistle-blower complaint noted that his committee was first informed it existed on Sept. 9.Giuliani has extensive ties to Ukraine stretching back more than a decade.In 2008, he advised Vitali Klitschko, a former boxing champion, on his campaign for mayor, a post he’s held since 2014. In 2017, Ukrainian billionaire Viktor Pinchuk paid Giuliani to give a speech at a conference in Kyiv; on the same trip he met then-President Petro Poroshenko, along with the country’s prime minister, foreign minister and prosecutor general.Later that year Giuliani traveled to the eastern Ukrainian city of Kharkiv to advise the mayor on security issues in a contract paid for by a local businessman, Pavel Fuks, who once tried to do a deal with Trump for Moscow Tower.In May, Ukraine’s then prosecutor-general Yuriy Lutsenko told Bloomberg News in an interview that he had no evidence of wrongdoing by Biden and his son.Since then, Zelenskiy appointed a new prosecutor general, Ruslan Riaboshapka, who had been a top official at the National Agency for Preventing Corruption.\--With assistance from Billy House and Tyler Pager.To contact the reporters on this story: Stephanie Baker in London at stebaker@bloomberg.net;Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.netTo contact the editors responsible for this story: Alan Katz at akatz5@bloomberg.net, Winnie O'Kelley, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • WeWork, WeWait, WeWorry: What’s Next for CEO Adam Neumann?
    Bloomberg

    WeWork, WeWait, WeWorry: What’s Next for CEO Adam Neumann?

    (Bloomberg) -- Steve Schwarzman has doubts. So does Larry Ellison.And so, too, do the growing numbers of Wall Street bankers and investors who are all anxiously awaiting the next move by WeWork and its brash co-founder, Adam Neumann.Neumann was a no-show this week for a long-planned appearance at a SoftBank Group Corp. three-day retreat in Pasadena, California, according to people familiar with the the matter, a further sign that company executives are hunkering down. Once the WeWork initial public offering was postponed late Monday, organizers knew Neumann’s presence would be iffy, the people said. His planned appearance was rescheduled from the first day of the event at the Langham hotel to the last and then canceled altogether.In short order Neumann’s office-sharing company has gone from a get-rich story to a you’ve-got-to-be-joking melodrama -- from WeWork to WeWait to, now, WeWorry.It was a brutal week. First, WeWork’s parent company, We Co., finally conceded that its grandiose plans for going public would have to wait.Then Schwarzman, one of the most powerful figures on Wall Street, threw shade on the company’s hoped-for valuation, which has already collapsed from upwards of $60 billion to $15 billion -- or lower.“I sort of went, what? How do you get this?” Schwarzman, the head of private equity giant Blackstone Group Inc., said of the early numbers Wednesday at a luncheon in New York. Ellison, chairman of Oracle Corp., went further, according to Barron’s. He told a group of entrepreneurs at his San Francisco home that day that WeWork is “almost worthless.”And it only gets worse. In London, two deals for major office buildings that are largely leased out to WeWork started to fray. Back in its hometown of New York, the company made a small round of job cuts. And the Wall Street Journal, examining WeWork’s over-the-top culture, reported that Neumann and his friends smoked marijuana on a private jet en route to Israel last summer -- and left a chunk of the drug behind, spurring the plane’s owner to summon it back.If all that weren’t enough, Neumann’s own bankers were getting antsy: They were looking to revise a $500 million credit line secured by WeWork stock -- an acknowledgment that those shares appear far less solid than they used to.New RisksAnd, by Friday, Wendy Silverstein, a big name in New York commercial real estate who joined WeWork last year as head of its property investment arm, had left the company. She’s spending time caring for her elderly parents.Even the president of the Federal Reserve Bank of Boston was adding to the angst. In a speech Friday in New York, Eric Rosengren warned that the proliferation of co-working spaces might pose new risks to financial stability.A WeWork representative declined to comment on Neumann’s canceled appearance at the SoftBank conference, citing the pre-IPO quiet period. SoftBank also declined to comment.Rarely has so much gone so wrong so fast for a young company in the spotlight. Neumann has begrudgingly agreed to cede some of his powers. The question now: Will that be enough?“I’ve never seen a company of this size and scale generate such a consensus of negative opinion in my long, long life of following IPOs,” said Len Sherman, a Columbia Business School adjunct professor whose 30-year business career included time as a senior partner at consulting firm Accenture Plc. “There is no box that they haven’t ticked when you think of all the reasons that you might be very concerned -- like blaring red lights. Like, oh my gosh, caution, danger, danger.”WeWork now hopes to go public next month. But even that may be optimistic. Neumann, also We Co.’s chief executive officer, has to persuade investors that his company -- which has raised more than $12 billion since its founding and never turned a nickel of profit -- is worth billions on the stock market.Deadline LoomsTime is short. WeWork must complete its IPO before the end of the year to keep access to a crucial $6 billion loan.The company’s $669 million of bonds due in 2025 have dropped 5 cents this week to 97.75 cents on the dollar as of Thursday, according to the Trace bond-price reporting system.A few hours after the Journal story hit Wednesday, investors at a Goldman Sachs Group Inc. conference in New York heard from Snap Inc.’s Evan Spiegel -- Neumann’s predecessor as a celebrated startup founder whose behavior and company control attracted unflattering attention as the unicorn went public in 2017.He was asked what advice he’d give to founders looking to become CEOs of companies that have to answer to shareholders. His answer:“Don’t go public.”(Updates with CEO’s canceled appearance in third paragraph.)\--With assistance from Gillian Tan, Matthew Boesler and Sarah McBride.To contact the reporters on this story: Ellen Huet in San Francisco at ehuet4@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.net;Gwen Everett in New York at geverett10@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, David Gillen, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Snapchat's Comeback Story
    Zacks

    Snapchat's Comeback Story

    Snapchat is making a comeback in a big way with a resurgence in user growth and ARPU's continuing to raise.

  • Nike (NKE) Q1 2020 Earnings Preview: North America, China and More
    Zacks

    Nike (NKE) Q1 2020 Earnings Preview: North America, China and More

    Nike (NKE) is set to report its first-quarter fiscal 2020 financial results after the closing bell on Tuesday, September 24. So let's see what investors should expect from the sportswear powerhouse...

  • 3 Dividend-Paying Tech Stocks for Income Investors to Buy Right Now
    Zacks

    3 Dividend-Paying Tech Stocks for Income Investors to Buy Right Now

    We searched for strong tech companies that also pay a dividend, utilizing our Zacks Stock Screener. These three tech stocks should remain attractive to investors even during a potential market downturn...

  • Corporate America Has Found a Way to Turn a Profit Off Being Green
    Bloomberg

    Corporate America Has Found a Way to Turn a Profit Off Being Green

    (Bloomberg) -- It’s time to stop crediting corporate sustainability efforts as acts of altruism. For big business, protecting the environment often means padding the bottom line.Nike Inc. has come up with a way to weave more efficiently, reducing the raw material and labor time needed to make each shoe. That has kept more than 3.5 million pounds of waste from reaching landfills since 2012. But the good news doesn’t stop with the environmental impact. The company is spending less on transportation, materials and waste disposal.The shoemaker’s “more environmentally conscious product has been a source of cost savings,” said James Duffy, an analyst at Stifel.Those flimsy plastic water bottles sold by Nestle SA? The ultra-thin design has a smaller impact on the environment while pushing down costs associated with packaging and shipping. Amazon.com Inc. and Walmart Inc. have poured tens of millions of dollars into a fund that builds out recycling infrastructure, reducing landfill tipping fees and recovering material that could be sold as new products.Tech giants have spent billions of dollars on solar and wind power, cutting greenhouse-gas emissions and energy expenditures at the same time. Alphabet Inc.’s Google, Amazon and Facebook Inc. are now some of the largest buyers of green power in America.Turns out it’s not just easy being green—it’s also profitable.“We’ve moved past this concept that business versus the environment is a tradeoff,” said Tom Murray, who advises companies on reducing emissions at Environmental Defense Fund, including Walmart, McDonald’s Corp. and Procter & Gamble Co. “The business benefits were always there, but more and more companies are going after them.”The business case for going green has never been stronger as companies find ways to make more from less. Here’s a look at the ways corporate sustainability is making environmentalism pay.Lightweight Flights Cost LessUnited Airlines Holdings Inc. has been making its planes lighter, driving down fuel use and costs. Airlines account for almost 2% global carbon emissions. Not even the in-flight magazine has been spared in the search for unnecessary heft: changing to a lighter paper stock saved almost $300,000 per year on fuel. United redesigned airplane bathrooms, switched out beverage carts and ended duty-free sales. The company was also working on reducing its cabin waste to zero. What it pays: United has saved more than $2 billion on fuel so far.Hanging Hotel Towels Saves More Than Water It turns out that simply asking guests to hang up towels to dry and forego daily sheet changes can save hotel operators 25% off annual energy costs. “To some surprise within the hotel industry, this option was quickly embraced by hotel guests as a small way to engage in energy conservation,” according to a report by the Urban Land Institute. Clarion Partners LLC does that at all of its hotels and went a step further by reducing flows through toilets, faucets and showerheads.What it pays: Cutting water use saves Clarion hotels about $17,250 per year.Idle Trucks, Real MoneyWalmart runs one of the biggest trucking fleets in the U.S. That means scores of semis standing in traffic at any given time. At that scale, the introduction of technology that reduces energy use when trucks or idling and software that creates more efficient routes can improve fuel efficiency by 90%, reducing carbon dioxide emissions.What it pays: Diesel averages almost $3 a gallon in the U.S. Tech’s Green Power PayoffGoogle, Facebook and Amazon are among the largest energy consumers in the U.S., and a lot of that power is now emission-free. Each company committed to getting 100% of their power for their data centers from renewable resources such as wind and solar. Exxon Mobil signed up to energize its operations in Texas with solar and wind energy starting next year, which would place the oil producer among the top 10 buyers.What it pays: With renewables now cheaper than fossil fuels, these green energy commitments shave an estimated 10% off tech giants’ gargantuan utility bills.Paperless Bathrooms Are CheaperRestaurants, movie theaters and others have been making the switch from paper towels to hand dryers in their restrooms for years. Dryers have become the norm because of the savings on the cost of paper towels and the expense of sending garbage to the landfill. Soldier Field, home of the Chicago Bears, made the switch and cut carbon emissions by 76% per use.What it pays: A football stadium can save more than $12,000 a year over the cost of paper towels. Re-Sold Clothes Are a MoneymakerPatagonia Inc. has been repairing and recycling clothes since its inception in the 1970s, making the practice a core part of the brand’s environmental image. Two years ago, however, the company added incentives for customers who return used items. This wasn’t just an act of urgency to keep clothing out of landfills. A 3-in-1 Snowshot Jacket that retails new for about $400 was recently listed on Patagonia’s Wornwear website for $187 to $207, more than twice the amount paid to customers in a voucher.What it pays: Each re-sale of a high-quality used jacket can net $100. “It’s a profitable business unit,” said Phil Graves, director of corporate development at Patagonia.Slender Plastic SavingsNestle has been saving money with ever-thinner plastic bottles, cutting the content in its half-liters by more than 60% since 1990. That also reduces the harmful chemicals and emissions produced from making plastic and saves on transportation costs. There’s also been a push to use more recycled material. Nestle recently started offering a 100% recycled bottle for its Pure Life water brand. Coca-Cola Inc. has decided to ditch plastic altogether for its Dasani line by pumping water into aluminum cans. That switch will make it easier to recycle and boost profitability. The cans weigh less, which cuts transportation costs. What it pays: 72 cents per pound of plastic resin.Beer With Less Spent on WaterLagunitas Brewing Co. was growing so quickly that its local water utility couldn’t process all the highly concentrated wastewater produced by its manufacturing process. Managing it all might have required costly upgrades to the municipal system. The brewer instead bought a new type of treatment system onsite that cleans the 7 gallons of high-strength wastewater made with every gallon of beer. The methane byproduct is used to produce electricity. Its one of the many breweries and vineyards out there that have now installed these systems.What it pays: Estimated savings more than $1 million a year on utility bills.This story is part of Covering Climate Now, a global collaboration of more than 250 news outlets to highlight climate change.(Adds zero-waste effort in ninth paragraph)To contact the authors of this story: Chris Martin in New York at cmartin11@bloomberg.netMillicent Dent in New York at mdent13@bloomberg.netTo contact the editor responsible for this story: Aaron Rutkoff at arutkoff@bloomberg.net, Lynn DoanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The Q3 2019 Earnings Season Gets Underway
    Zacks

    The Q3 2019 Earnings Season Gets Underway

    The Q3 2019 Earnings Season Gets Underway

  • Square Stock: Jim Cramer Says It’s Worth Buying
    Market Realist

    Square Stock: Jim Cramer Says It’s Worth Buying

    Jim Cramer thinks that Square stock is worth owning. The stock has upside potential. According to Cramer, investors should buy the stock when it falls.

  • Investing.com

    Stocks – S&P Falls on Trade Jitters, Tech Weakness

    Investing.com - Stocks fell back Friday as Wall Street worried that U.S.-China trade talks had hit a snag.

  • PG&E Slumps on Creditor Plan to Mostly Wipe Out Shareholders
    Bloomberg

    PG&E Slumps on Creditor Plan to Mostly Wipe Out Shareholders

    (Bloomberg) -- PG&E Corp. shares dropped as much as 10% after bondholders and wildfire victims teamed up to offer a competing recovery plan for the bankrupt utility that would all but wipe out its stockholders.If a judge lets the coalition’s plan go forward, PG&E could lose control of the bankruptcy and its own reorganization plan, which envisions letting its stockholders keep a significant stake.PG&E fell 77 cents to $11.43 at 12:27 p.m. in New York and traded for as little as $10.96.The bondholders -- including Elliott Management Corp. and Pacific Investment Management Co. -- and the committee representing fire victims said their new proposal includes a $24 billion settlement to pay all claims from fires blamed on PG&E’s equipment. That’s billions of dollars more than PG&E has offered to those who lost loved ones and homes in some of the most destructive fires in California history.The proposal filed on Thursday adds new complexity to the biggest utility bankruptcy in U.S. history. The creditors and wildfire victims are seeking to end the San Francisco-based company’s exclusive right to come up with a plan so they can put forth their own.It’s unusual for a bankrupt company to lose that priority, and Judge Dennis Montali rejected an earlier effort to supplant PG&E. But this time the coalition “likely has a good shot at ending the utility’s control,” said Negisa Balluku, a litigation analyst at Bloomberg Intelligence. “The competing plan may more efficiently solve the case’s key objective of compensating wildfire victims,” she wrote in a new report.What Bloomberg Intelligence Says“The noteholders’ previous calls to end PG&E’s exclusivity failed in mid-August, but the court was clear afterward that it had left the door open to terminating exclusivity if PG&E’s plan isn’t credible.” -- Negisa Balluku, litigation analyst in research reportThe group’s proposal “represents a path forward that recognizes the victims’ losses and puts their interests ahead of shareholders,” Robert Julian, an attorney for the official committee representing fire victims, said in a statement.PG&E rejected the idea and affirmed support for its own proposal.“The bondholders’ plan is an attempt to pay themselves more than they are entitled to under the law,” Lynsey Paulo, a PG&E spokeswoman, said by email. “Our plan of reorganization sets forth a framework to meet PG&E’s legal obligations in full while prioritizing victims and customers.”Montali denied the previous request last month from Elliott and the other bondholders to make competing proposals, calling them “a feast for lawyers, accountants, investment bankers and others.” In that Aug. 16 decision, Montali worried rival proposals would spawn litigation fights that “have little or nothing to do with compensating victims.”October HearingUntil that August ruling, Montali hinted that he would end PG&E’s exclusive right to develop a plan to pay fire victims and the other creditors. On Friday, Montali set a hearing for Oct. 8 to decide whether to allow the new, competing proposal to go forward, rejecting a request by the official committee and bondholders for a much quicker than normal schedule.PG&E filed for bankruptcy protection in January in the face of an estimated $30 billion or more in liabilities from wildfires. Under PG&E’s reorganization plan, claims from individual wildfire victims would be capped at $8.4 billion, while insurers or insurance claim holders would get $11 billion under a settlement announced last week.The new bondholder proposal offers $28.4 billion in new money in exchange for 58.8% of the equity in the reorganized PG&E. Under an earlier proposal, creditors had offered financing in exchange for an 85% to 95% stake in the new company.A $24 billion wildfire trust fund would be set up and financed through $12 billion in cash and $12 billion in stock, according to the filing. The trust would have a 39.5% stake in PG&E. Overall, the creditor group and the trust would end up with a combined 98.3% of the equity in PG&E.The case is PG&E Corp., 19-bk-30088, U.S. Bankruptcy Court Northern District of California (San Francisco)\--With assistance from Joel Rosenblatt.To contact the reporters on this story: Mark Chediak in San Francisco at mchediak@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.net;Steven Church in Wilmington, Delaware at schurch3@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Rick GreenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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    (Bloomberg) -- President Donald Trump will meet with top members of his National Security Council Friday to discuss possible courses of action on Iran, according to a person familiar with the plan.Defense Secretary Mark Esper and Chairman of the Joint Chiefs of Staff General Joseph Dunford are to present military retaliation options, should Trump decide to strike after the Saudi Arabia oil installation attack, the New York Times previously reported.Saudi and U.S. officials have said that the drones and missiles used in last weekend’s attack on critical oil facilities in the kingdom were made by Iran, had never before been deployed by Iranian proxy groups, and came from a northerly direction. Iran has denied involvement in the attacks, which were claimed by the Yemeni rebels allied with the Islamic Republic.Iran’s Foreign Minister Javad Zarif warned Thursday in a CNN interview that any U.S. or Saudi strike on his country in response would lead to “all-out war.”Trump said earlier this week that he wants tougher U.S. sanctions on Iran as his top diplomat seeks to build a coalition of international support for tougher measures.The U.S. reimposed sanctions on Iran after exiting the 2015 nuclear deal, kicking off a year of increasingly fraught relations.To contact the reporter on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Elizabeth Wasserman, Kathleen HunterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.