Over the wall 📶
Bad gas: Japan reported a 29% decline in absolute emissions from its oil and gas clients in 2021 relative to baseline levels of 2019.
Rate this: Many of the fossil fuel industry may face an era of credit downgrades if producers prove too slow to change to a low-carbon future, according to Fitch Ratings.
The terminator: Walt Disney posted above consensus for fourth-quarter earnings in 2023 and is in the process of adding $2 billion in cost savings after terminating thousands of employees.
State of art: Pablo Picasso’s Femme à la montre (painting) sold for $139.3 million at Sotheby’s in New York.
The hype: Apparently, the finance industry is in on AI too. “Generative AI is the next new thing in machine learning,” according to Citadel founder Ken Griffin.
The dip: Deal values in Asia Pacific have dropped about 27% in 2023 to roughly $793 billion.
More risk: The fear in 2024 is credit risk over concerns about growth and debt supply as the US Federal government pulls back.
Commodity: The food and farming industries cost the world economy more than $10 trillion annually through unhealthy diets, environmental damage and under-nourishment.
Expectations: Australia’s central bank expects inflation will return to the top of its 2% to 3% target by end of 2025.
American banking: The US Federal government mentioned it’s keeping close tabs on potential losses at banks in the US stemming from commercial real estate and elevated interest rates.
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