U.S. is already in an economic downturn, Cathie Wood says

Ark Invest’s founder, CEO and CIO Cathie Wood said on Tuesday (June 28) that the United States is already in a recession. “We think we are in a recession,” the innovation-focused 66 year-old investor told CNBC. “We think a big problem out there is inventories… the increase of which I’ve never seen this large in my career. I’ve been around for 45

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Discoverer of HIV Montagnier passes away fighting

French virologist Luc Montagnier, the discoverer of HIV, has passed away at age 89. Montagnier, who won a Nobel Prize in 2008, died Tuesday (Feb. 8) at the American Hospital of Paris in Neuilly-sur-Seine, a western suburb of the capital, local government officials in France said. Dr. Montagnier, led the team that in 1983 identified the human immunodeficiency virus (HIV), which causes

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Green investing could be the next financial bubble

High-profile economist Arvind Subramanian is warning about the risks associated with large-scale ESG and climate financing. In a commentary for Project Syndicate on Jan.3, the former chief economic adviser to the Indian government, argues that private climate finance is posing serious risks to global markets and the world needs to wake up to the danger as it could be the next financial

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SWFs’ investments in renewables still “inadequate and miniscule”

The world’s biggest sovereign wealth funds (SWFs) are yet to show a proper commitment to ESG as their investments in Renewable Energy are still “inadequate and minuscule” according to the latest report by Global SWF. The financial boutique focused on State-Owned Investors, including Sovereign Wealth Funds (SWFs) and Public Pension Funds (PPFs), calculates that today SWFs have invested in renewable energy US$

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JPMorgan is preparing for potential US default

JPMorgan Chase, the largest lender in the U.S., has begun preparing for the possibility of the country defaulting on its debt, the bank’s president and CEO Jamie Dimon told Reuters on Tuesday (Sept. 28). “This is like the third time we’ve had to do this, it is a potentially catastrophic event,” he said in an interview with the news agency. “Every single

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Lempert warns food prices surge is here to stay

One of America’s leading consumer trend-watchers and analysts, Phil Lempert, warns that price spikes for food are here to stay and shoppers shouldn’t expect relief any time soon. “We’re going to continue to see price increases, probably for the next two years or so,” the founder of SupermarketGuru.com told Fortune on Thursday (August 12). Prices that Americans pay for everyday goods and services rose last month,

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