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OpenAI: Starting next week, ChatGPT advertising will expand to 31 European countries.On August 19th, Morgan Stanley lowered its core revenue forecasts for Baidu (BIDU.O) by 1% to 9% for 2026 to 2028, and its non-GAAP operating profit forecasts by 6% to 31%, to reflect weak revenue and increased investment in artificial intelligence. The target price for Baidus US-listed shares was significantly lowered by 38.5% to $80 from $130, equivalent to a 2027 projected price-to-earnings ratio of 10x, and the rating was downgraded from "Equal-weight" to "Underweight".DecisionTable, a U.S. election forecasting organization, predicts that Democrat Mary Peltola will advance to the U.S. Senate race in Alaska.DecisionTable, a U.S. election forecasting organization, predicts that Republican Senator Sullivan will advance to the U.S. Senate race in Alaska.On August 19th, Morgan Stanley issued a report stating that Xiaomi Group (01810.HK) reported adjusted net profit of RMB 6.219 billion in the second quarter, a 43% year-on-year decrease but a 2% quarter-on-quarter increase. Revenue and gross margin from the smartphone business significantly exceeded the banks expectations, while revenue from the electric vehicle and IoT businesses slightly missed expectations. Management stated that the increase in storage prices will normalize in the second half of the year, which is expected to reduce the negative impact on smartphone gross margins. The bank expects smartphone gross margins to remain resilient in the second half of the year, becoming a positive surprise and a catalyst for revaluation. Morgan Stanley maintains its "Overweight" rating on Xiaomi with a target price of HKD 32.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.