Development Banks Make Landmark Climate Pledge, but No Fossil Fuel Phase Out | Investing News

By Kate Abnett, Simon Jessop and Matthew Green

BRUSSELS/LONDON (Reuters) – The world’s public development banks on Wednesday pledged to align their financial firepower with the Paris Agreement on climate change, but avoided a firm commitment to phase out fossil fuel financing.

As a source of funding for many large infrastructure projects, including in the energy sector, public development institutions are key to efforts to steer finance away from fossil fuels and into low-carbon projects.

Together, such institutions invest around $2.3 trillion each year – equivalent to 10% of all global investments from public and private sources.

At a green finance summit organised by the French government, the world’s 450 public development banks said they would “increase the pace and coverage” of investment in renewable energy, energy efficiency and clean technologies.

However, the group stopped short of pledging to phase out fossil fuel investments, a step announced last week by

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No new iPhone SE in early 2021, says Ming-Chi Kuo

Despite previous expectations that Apple will soon launch a new iPhone SE, or possible “iPhone SE Plus,” in early 2021, analyst Ming-Chi Kuo says the earliest this will happen is the second half of the year.

While Best Buy recently produced a screen protector for an “iPhone SE Plus,” and while Ming-Chi Kuo has previously expected both that and a new iPhone SE, the analyst now says neither are coming soon. Although he does not specify a new date or time frame, Kuo has told investors that it won’t happen in the first half of 2021.

Kuo’s latest investor note is specifically about supplier Yujingguang, better known as Genius Electronic Optical. He cautions that a belief that “the market overestimates revenue and gross margin” of the company.

“We believe that Genius Electronic Optical’s October revenue [will turn out to be] lower than the market consensus because of increased competition,” he

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Tencent Ready to Make Case It Can Ride Out China Internet Storm

(Bloomberg) — Tencent Holdings Ltd. joined Alibaba Group Holding Ltd. and much of China’s internet sector in a $290 billion selloff after Beijing signaled its strongest intentions yet to rein in Big Tech. Yet the social media and gaming giant is in some ways better shielded than its peers from any potential crackdown.


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Executives unfurling earnings Thursday will seek to reinforce perceptions Tencent isn’t in the same boat as fintech giant Ant Group Co., the Alibaba affiliate forced to call off what would’ve been the world’s largest initial public offering after Beijing tightened its control of online lending. Citigroup and JPMorgan were among brokerages that recommended investors buy Tencent during the sell-off.

For years, Tencent had been the more sedate runner-up to Jack Ma’s splashy Ant in the burgeoning field of internet finance, focusing more on bread-and-butter mobile payments via WeChat while ensuring enough capital to back up

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These 10 VCs are making the biggest bets in legal tech

  • As the legal industry is being propelled toward digitization and innovation, venture capitalists are pouring more investments into legal tech.
  • The total value of legal tech deals clocked in at $1 billion globally in 2019, double the amount from the previous year, according to data from PitchBook.
  • Here’s a list of 10 of the top VCs leading the charge in legal tech investments, from titans like Accel and Bessemer Venture Partners to Peter Thiel’s Founders Fund.
  • Visit Business Insider’s homepage for more stories.

All signs seem to be pointing toward digitization in the legal industry — and venture capitalists are taking note.

The last few years has seen a growth in VC investment deal activity in legal tech. Last year, there were 124 deals valued at around $1 billion in the space globally, up from 84 deals valued at $500 million in 2018, according to data from PitchBook. This year,

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Biohaven Pharmaceuticals Inaugural Partner Of National Ataxia Foundation’s Drug Development Collaborative

NEW HAVEN, Conn., Nov. 11, 2020 /PRNewswire/ — Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN), a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases including spinocerebellar ataxia, today announced its partnership with the National Ataxia Foundation (NAF) to help the nonprofit organization launch the NAF Drug Development Collaborative. As the first pharmaceutical industry member to commit support, Biohaven’s partnership will help NAF accelerate the development of new treatments for Ataxia.

Melissa Wolfe Beiner, M.D., Director of Research and Development and Clinical Lead for the Ataxia program at Biohaven, commented, “Biohaven is extremely pleased to be the first industry partner to join this important consortium. We are deeply committed to the Ataxia community, as demonstrated by our longstanding partnership with NAF and leading neurologists in the ataxia field from around the world. Together with NAF

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Amazon, LinkedIn, PATH employees among those on Joe Biden’s agency review teams

President-elect Joe Biden’s desire to hit the ground running on his first day in office is being aided by some Seattle-area professionals with tech backgrounds who have been named to his agency review teams.

Biden and Vice President-elect Kamala Harris released the names Tuesday of individuals who will help the incoming administration understand the operations of agencies including the Departments of Commerce, Education, Defense, State, Transportation and many more.

Among those named with Seattle tech and science ties:

  • Mark Schwartz, Amazon Web Services, enterprise strategist (Office of Management and Budget)
  • Tom Sullivan, Amazon, international policy team (Department of State)
  • Nicole Isaac, LinkedIn, senior director North American policy (Department of Treasury)
  • David Kaslow, PATH, chief scientific officer (Department of Health and Human Services)

Other’s on the list have connections to Facebook, Uber, Airbnb, DropBox, Dell, Lyft and Stripe, according to CNBC.

According to Biden’s transition website, the Presidential Transition Act requires

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Global Debt Collection Software Market Trends, Report Research, Top Key Players, Development, Growth, Share Forecast Till 2027

The MarketWatch News Department was not involved in the creation of this content.

Nov 11, 2020 (The Expresswire) —
Fortune Business Insights offers a detailed overview of the global market in a report, titledDebt Collection Software Market Insights is designed to streamline the debt recovery process that helps in smooth debt collection software market. It assists debt collector organizations in managing workflow, complying with government regulations and online payment collection. The debt collection software handles every step of the loan recovery process that starts with gathering complete data of borrower, send overdue invoice reminders, follow up with phone calls, and manage debt collection. It also helps banking organizations to improve their productivity by automating the complete work related to debt collection. Additionally, the increasing need to reduce time and cost associated with the manual debt recovery process among financial organizations as well as the growing need to provide customer-centric

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Datadog Slumps Despite Beating Q3 Estimates: What Wall Street Is Saying

Shares of Datadog  (DDOG) – Get Report dropped Wednesday morning following its third quarter earnings that came out after the closing bell on Tuesday. 

The cloud analytics software company posted non-GAAP earnings per share of 5 cents, vs. analyst estimates of 1 cent a share, while its revenue of $154.7 million topped estimates by $10.4 million. 

However, Datadog posted billings of around $156 million, vs a $159.1 million consensus. Shares were falling 10.7% to $82.73 Wednesday morning. 

Here’s what Wall Street is saying about the results:

Morgan Stanley (Equal-Weight rating maintained, PT raised from $80 to $86 )

The challenge is that 4Q guidance calling for
43-44% YoY growth suggests another pronounced deceleration which reflects
prudent conservatism in light of a macroenvironment that is still challenging and
fraught with risks. With a highly efficient, go-to market model coupled with a high
velocity product engineering organization, we still see

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Internet trolls seem to be faking Xbox Series X problems for memes

Microsoft’s latest next-gen console, the Xbox Series X (along with its smaller cousin, the Xbox Series S), has arrived. And with it comes a whole bunch of internet con artists trying to meme people into believing the new console is plagued by terrible issues.

You might, for example, have seen clips passed around the internet that showcased the Xbox Series X literally smoking. The posts would have you believe the blazing graphics of the Series X are so demanding they can cause an Xbox to catch fire, but the reality is much simpler than Xbox consoles spontaneously bursting into flame. What actually appears to be happening is that people are piping vape smoke into their new $500 consoles to give off the appearance of a fire to troll fans on social media.

(Please note that it probably isn’t a great idea to intentionally fill your brand-new console with water vapor,

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Google curtails free photo storage, pushes users to buy more space

Google will start limiting how many high-quality photos users can store on the company’s cloud back-up service starting next June, it announced on Wednesday, in a move that could help protect profit margins.

“Growing demand for storage” means Google Photos can no longer honor a years-old policy of unlimited capacity for high-quality images, the company said in a blog post. Storage of images, along with files in Google’s document editing services, will instead be capped at a combined total of 15 gigabytes.

More than 1 billion people use Google Photos each month.

“Original quality” images, or incredibly high-resolution copies, were the only ones to previously count against the limit. Google’s plans for additional storage, dubbed Google One, start at $2 a month.

More than 1 billion people use Google Photos each month, but the company estimated fewer than 20 percent of them will need to upgrade for extra storage in

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