Banks Ignore Transition Risk at Their Own Peril, ECB Warns Also in today’s Green Daily: Davos downplays climate change and China’s coal production hits a record.

Banks that ignore climate transition risk are already paying more to borrow, the ECB warns. From higher funding costs to asset exposure, climate risk is financial risk, yet global leaders downplay it as impacts accelerate.

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Fitch could downgrade of Euroclear's rating if Russian assets seized by EU The Fitch ratings agency warned that an EU plan to seize Russia’s frozen assets would expose Euroclear to significant legal and financial risks and downgraded the European depository with a negative watch outlook on December 17.

The Fitch ratings agency warned that an EU plan to seize Russia’s frozen assets would expose Euroclear to significant legal and financial risks and downgraded the European depository with a negative watch outlook on… Bne IntelliNews #FitchRatings #Euroclear #RussianAssets #EU #FinancialRisks

Trump's 50-year mortgage gets default warning from Moody's chief economist Mark Zandi told Newsweek the plan could raise house prices and worsen the affordability issue it is intended to solve.

Don The Con's plan to introduce 50-year mortgages could increase the financial risks for both homeowners and lenders, according to Mark Zandi, the chief economist at Moody's Analytics.

#DonTheCon #50YearMortgage #FinancialRisks #Homeowners #Lenders #MarkZandi #Moodys #Newsweek

Independent audit firm finds 631 governmental risks; council weighs shift to risk-based audit program Consultants from Malden & Jenkins told Columbus city council an initial enterprise risk assessment identified 631 specific risks and 92 auditable entities, urging the citys internal audit function to shift from investigations toward a risk-based approach and annual plan; council members asked for more transparency, dashboards and staff alignment.

Columbus city council is facing a staggering 631 operational and financial risks, prompting a crucial shift to a proactive, risk-based audit strategy.

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#ColumbusMuscogeeCounty #GA #CitizenPortal #TransparencyInGovernment #GovernanceReform #ColumbusAudit #FinancialRisks

GridBeyond Broadens Energy Storage Services with Revenue Floor and Synthetic Toll Agreements GridBeyond is expanding its services to offer revenue floor agreements and synthetic toll contracts for energy storage projects operating within the ERCOT and CAISO markets, aiming to reduce financial risk and facilitate project financing for owners. These flexible contract options provide revenue stability and maximize potential returns, allowing project owners to select from a range of risk mitigation strategies that cater to their specific needs.

GridBeyond Broadens Energy Storage Services with Revenue Floor and Synthetic Toll Agreements #ERCOT #EnergyStorage #GridBeyond #TollAgreements #RenewableEnergy #FinancialRisks

Novo Nordisk implements global hiring freeze in non-critical areas Investing.com -- Danish pharmaceutical giant Novo Nordisk (NYSE:NVO) has put in place a global hiring freeze affecting positions that are not deemed critical to its operations, the company confirmed on Wednesday. "We currently have a hiring freeze in non-business critical areas," the maker of popular weight-loss drug Wegovy stated in an emailed statement. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is NOVOb one of them?

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Moscow court fines Zoom for failing to abide by Russian internet rules © Reuters. The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/File Photo (Reuters) -A Russian court has fined Zoom (NASDAQ:ZM) Communications 79.6 million roubles ($965,779) for failing to comply with legal requirements governing foreign entities operating in Russia’s internet space, the Moscow courts press service said on Tuesday. ($1 = 82.4205 roubles) With ZM making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed ZM alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including ZM, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is ZM poised for similar growth? Don't miss the opportunity to find out.

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Poverty Doesn’t Make Everyone Into A Risk-Taking Daredevil After All #Satire #ScienceNews #FinancialRisks #PovertyProblems #ReplicateThis By: TheJestPress.com **New Study Finds People Raised in Poverty Just as Terrible at Roulette as Everyone Else** Remember that old psychology study claiming childhood poverty turned you into a financial daredevil, bravely betting your life savings on avocado NFTs and gas station scratch-offs? Yeah, about that... New research says, “Hold your horses and your crypto wallet.” Apparently, growing up with moldy bread sandwiches doesn’t make you more likely to YOLO your paycheck in Vegas—at least, not more than the average person who thinks “early retirement” means dipping into your lunch money.

Poverty Doesn’t Make Everyone Into A Risk-Taking Daredevil After All

#Satire #ScienceNews #FinancialRisks #PovertyProblems #ReplicateThis By: TheJestPress.com **New Study Finds People Raised in Poverty Just as Terrible at Roulette as Everyone Else** Remember that old psychology study claiming…

Commission discusses risks of proposed $100M on-bill financing program Officials highlight potential financial risks of $100M on-bill financing program implementation.

The future of energy financing in Colorado hangs in the balance as officials grapple with the potential risks and rewards of a groundbreaking $100 million On-Bill Financing Program.

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#CO #CitizenPortal #EnergyEfficiency #FinancialRisks

Council debates funding shift for $18M regional project amid cost concerns Members discuss reallocating funds from Sherlington project to cover regional design bill increases.

The Northern Virginia Transportation Authority is facing a tough decision: should they reallocate funds from a crucial Arlington project to cover rising costs for a regional initiative?

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#VA #CitizenPortal #RegionalConnectivty #FundingAllocation #FinancialRisks

Wholesale claims jumping 24% yr/yr, retail claims down 16% yr/yr. Need deft risk management to avoid dual-funnel pressures on auto credit liquidity. #FinancialRisks #AutoCredit<'300> learn how i got $1256 grant for my business: tinyurl.com/financialhel...

Trump’s Big Beautiful Bill poses risks for Indian exporters Investing.com -- Indian exporters of auto parts and solar panels could face renewed pressure from Donald Trump’s “Big Beautiful Bill,” even as the legislation may boost Indian IT services. “The phase of policy volatility continues, and yet again, we have the US initiating something with global ramifications,” analysts at Bernstein say on the bill and the upcoming expiry of a pause on reciprocal tariffs. The legislation includes tax cuts expected to widen the US fiscal deficit by more than $3 trillion over a decade. The U.S. House on Wednesday narrowly approved a wide-ranging tax and spending bill. Proposals to keep import duties elevated which are still under discussion, would amount to a further $1.5tn –$2 trillion in de facto tariffs, leaving limited room to scale back existing trade barriers. While the bill could spur US consumption, capital expenditure, and digital modernisation, areas where Indian tech firms stand to gain, it also introduces headwinds for manufacturing exports. The removal of incentives for electric vehicles and the bill’s emphasis on petrol-powered cars could weigh heavily on Indian auto component makers. Solar equipment exports, which have recently strengthened, may also be at risk. Another problem is Section 899, which could classify India as a “Discriminatory Foreign Country,” potentially triggering higher US taxes on Indian IT and pharmaceutical companies operating there. A proposed cut in the remittance tax to 1 per cent would have a limited impact, reducing annual outflows from the US to India by just $110mn, compared with the $38bn total. “The downside is significant, and the oceans murky,” Bernstein said, adding that the eventual impact will depend on the final shape of tariff provisions and any potential bilateral trade deal. AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

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Corte Madera committee addresses financial and strategic risks for town's future New committee plans to tackle operational and strategic risks impacting Corte Madera's budget.

Corte Madera is forming a new committee to tackle pressing financial and operational risks that could shape the town's future—are you ready to find out how they plan to navigate these challenges?

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#CA #CitizenPortal #StrategicPlanning #FinancialRisks #OperationalChallenges

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Voluntarily surrendering your vehicle might seem like a quick way to solve financial struggles, but it comes with several risks that can affect your financesand credit long-term. 

#CarSurrender #VoluntarySurrender #DeficiencyBalance #FinancialRisks

EU flags Namibia for financial risks - MSN EU flags Namibia for financial risks  MSN

#EU #Namibia #FinancialRisks #News #Finance

Amazon asks court to scrap EU tech label, arguing it poses no systemic risks By Foo Yun Chee BRUSSELS (Reuters) - Amazon (NASDAQ:AMZN) asked Europe’s second-highest court on Thursday to scrap its designation as a platform subject to stricter requirements under landmark EU online content rules, arguing that it poses no systematic risks to its users. The Digital Services Act, which came into force in 2022, requires Big Tech companies to do more to tackle illegal and harmful content on their platforms. The U.S. online retail giant took its grievance to the Luxembourg-based General Court after the European Commission classified it as a very large online platform (VLOP) under the DSA. A VLOP designation requires companies to do more to tackle illegal online content, undertake risk management, conduct external and independent auditing and share data with authorities and researchers. "Online marketplaces like the Amazon Store do not pose systemic risks. Second, the VLOP rules do not and cannot rationally assist in preventing the dissemination of illegal or counterfeit goods," Amazon’s lawyer Robert Spano told the court. "The VLOP rules therefore make no sense when applied to online marketplaces," he said. Amazon said any risks are limited to individual customers, not the totality of its users and that even if problematic products exist, widespread exposure is minimal and already dealt with by a number of product safety and compliance laws. "When it comes to marketplaces like the Amazon Store, size does not multiply risk. It is an arbitrary, disproportionate and discriminatory metric," Spano said. The court will rule in the coming months. Meta Platforms (NASDAQ:META), Chinese social media app TikTok and German online retailer Zalando have also challenged the DSA on various grounds. The case is T-367/23 - Amazon EU v Commission.

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FULL TEXT - Bank of Canada says trade uncertainty has pushed risks higher overall OTTAWA, May 8 (Reuters) - The Bank of Canada released the following statement by Governor Tiff Macklem on Thursday: "Good morning. Senior Deputy GovernorCarolyn Rogers and I are pleased to be here to discuss the Bank of Canada’s Financial Stability Report (FSR). "Each year, the Bank assesses the stability of Canada’s financial system and highlights risks that could threaten that stability. While some risks have diminished, the current trade environment has pushed risks higher overall. "But let us look back for a minute before we look ahead. "The country’s financial system has faced unprecedented shocks in recent years, and it has proven resilient. Households, businesses, banks and other financial institutions weathered the upheaval of the pandemic and the sharp rise in inflation and interest rates that followed. It was ad ifficult period for many Canadians, and pockets of stress remain. But proactive steps taken by households and businesses, together with substantially lower interest rates, put the system on a more resilient footing heading into 2025. "Now, the Canadian economy and financial system face a new threat. US trade policy has taken a dramatic protectionist shift.Tariffs and uncertainty have sharply reduced prospects for global economic growth. And financial markets have been rocked by chaotic policy announcements and reversals. "A long-lasting trade war poses the greatest threat to the Canadian economy. It also increases risks to financial stability. "There are two key concerns. "In the near term, the unpredictability of US trade policy could cause further market volatility and strains on liquidity. In an extreme case, market volatility could turn into market dysfunction. "In the medium term, a prolonged global trade war would have severe economic consequences. It would reduce growth and increase unemployment. This could, in turn, have important ramifications for our financial system. With debt still at high levels, some households and businesses may be unable to keep up with payments. If loan losses occur on a large enough scale, banks could cut back on lending in response. This would exacerbate the economic downturn and put more pressure on businesses and households. "What we are evaluating in this report are the indications of stress in the overall financial system. There are many uncertainties — we still do not know what tariffs will remain, whether they’ll be reduced or escalated, or how long all of this will last. That makes it particularly difficult to anticipate the risks to the financial system. "In our April Monetary Policy Report, we presented two illustrative scenarios to show how a trade war could affect the economy. In the FSR, we’ve focused on the more severe of those scenarios to explore how the trade war could affect different parts of the financial system. To be clear, our analysis is not a projection. It is an assessment of vulnerabilities — pockets of existing or potential stress and how they could spread across the financial system. "Let me turn to the Senior Deputy Governor to outline how these vulnerabilities affect the four key sectors of the financial system: households, businesses, banks and institutions known as non-bank financial intermediaries — a broad category including finance companies, pension funds, insurance companies and fund managers. "I’ll start with households. Total debt relative to disposable income is lower than it was a year ago, but still high by historical standards. Despite lower interest rates, signs of financial stress have risen over the past 12 months, particularly among households without a mortgage. For example, the share of these households that are behind on credit card or auto loan payments has continued to go up. "Among households with a mortgage, 60% are facing renewal this year or in 2026. Most of those renewing will see their payments rise because they took out their mortgage during the pandemic when rates were very low. But the average increase will be smaller than what we expected a year ago. "Still, if a large economic shock causes job losses, it will be harder for some households to keep up with their debt payments. "A prolonged trade war may be that shock. It would cause demand for Canadian exports to fall and disrupt supply chains, threatening jobs and incomes. Workers in trade-dependent industries could find it particularly difficult to continue managing their debt. "A prolonged trade war would matter for businesses too. Most Canadian businesses have managed to adjust to past interest rate increases, and the surge in small business insolvencies last year proved to be temporary. But businesses in trade-related sectors — especially those with high debt, low profitability or low cash reserves — could also fall behind on debt payments. "A strength of our financial system is that Canadian banks are well positioned to absorb higher credit losses. Banks have increased their capital buffers in recent years and, more recently, they’ve increased provisions for credit losses, bolstering their resilience. Liquidity levels remain high, and bank access to funding remains strong. But if credit losses occur on a large enough scale, banks could cut back on lending in response. Struggling households and businesses would have less access to credit to get through tough times. This cycle could exacerbate the economic downturn. "In the non-bank financial sector, the growing presence of hedge funds in the market forGovernment of Canada bonds raises some concern. Government bond markets are the foundation of the financial system. They need to function smoothly for other markets to work. The increased activity by hedge funds has helped absorb increased issuance of government debt, keeping yields lower and liquidity higher. But hedge funds have also taken on increasingly large amounts of leverage to fund their purchases of government bonds. This makes them more likely to pullback from these crucial markets in periods of stress, introducing added volatility. "The recent gyrations in the US Treasury market clearly illustrated this risk. If the trade war causes a larger spike in volatility than we have seen so far, leveraged hedge funds might rush to sell their holdings. That could strain liquidity across core markets, increasing stress throughout the financial system. Moreover, growing connections between banks and non-bank financial institutions could make it easier for stress to spread. Against a backdrop of increased market volatility, and given their importance in government bond markets, hedge funds need to make sure that they are prepared to respond to sudden liquidity needs without disrupting market functioning. "It’s time to wrap up. "The Canadian financial system is resilient. Despite high indebtedness and the economic turbulence of the pandemic, households, businesses and banks weathered a rapid rise in interest rates. That was a big test, and the financial system proved to be a source of stability. "But we must all remain vigilant. Vulnerabilities remain and there is another test on the horizon. "By identifying vulnerabilities, we can help the financial system prepare for future stress. We are watching developments closely and remain in regular contact with financial system participants and with other authorities in Canada and globally. A stable and resilient financial system absorbs shocks rather than amplifying them, and this benefits every Canadian. "With that, the Governor and I would be pleased to take your questions."

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County evaluates HVAC project costs and risks amid solar system cuts County officials assess increased HVAC project costs due to pipe replacements and solar removal.

Dunn County's Facilities Committee faces rising HVAC project costs and tough decisions, including the potential removal of solar energy solutions—what's at stake?

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#DunnCounty #WI #DunnCountyFacilities #EnergySolutions #CitizenPortal #InfrastructureUpdates #FinancialRisks

Senator Kaut highlights risks of expanded gambling in Nebraska during legislative debate Senator Kaut warns of financial risks and addiction linked to expanded gambling in Nebraska.

Nebraska lawmakers are torn between the economic allure of expanded gambling and the urgent need to protect young adults from the perils of addiction and financial ruin.

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#NE #YouthAddiction #CitizenPortal #FinancialRisks #CivicRegulation

Utah considers $23.5 million excess wildfire liability insurance allocation Commission reviews financial recommendations regarding wildfire insurance allocation for Utah.

Utah is grappling with a shocking $23.5 million wildfire liability insurance allocation that could reshape the state's financial future and safety measures.

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#UT #CitizenPortal #FinancialRisks #CommunitySafety #WildfireManagement

Utilities face rising liability costs amid fire-related insurance challenges Experts highlight the need for better normalization in utility insurance cost analysis

Rising utility costs are raising red flags in Utah as experts warn that selective data could mislead regulators and strain small utilities' financial health.

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#UT #CitizenPortal #FinancialRisks #InsuranceCosts

February 2025 Job Cuts Are The Highest Since Covid-19 Peak

#FinancialRisks #Banks #TheEconomy

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Expert highlights financial risks of power generating technologies at Oregon energy meeting Presenter discusses delays and costs of global small modular reactors in recent analysis

The future of nuclear energy in the U.S. hangs in the balance as experts reveal alarming delays and costs of global small modular reactors.

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#OR #ClimateAction #FinancialRisks #EnergyInnovation

Indian Banker Warns of AI Financial Risks India’s central bank governor joins other global financial leaders in voicing concern over the financial risks posed by AI’s growing dominance in the industry. The Reserve Bank of India (RBI) and other central monetary authorities have raised warning…

India’s central bank governor joins other global financial leaders in voicing concern over the financial risks posed by AI’s growing dominance in the industry. The Reserve Bank of India (RBI) and other central monetary authorities have raised warning flags regarding… #AI #ECB #FinancialRisks

Honored to collaborate w/@SAHusainMD on @ASNKidney360 📖‘#Policy Strategies to Reduce #FinancialRisks 💵 for #LivingDonors’💙💚
•Strategies to make donation financially-neutral incl: @NLDAC_ASTS expansion, employer paid-leave➕#LivingDonorProtectionAct provisions |@ASNAdvocacy🤝🏽

Honored to collaborate w/@SAHusainMD on @ASNKidney360 📖‘#Policy Strategies to Reduce #FinancialRisks 💵 for #LivingDonors’💙💚
•Strategies to make donation financially-neutral incl: @NLDAC_ASTS expansion, employer paid-leave➕#LivingDonorProtectionAct provisions |@ASNAdvocacy🤝🏽