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Deepgram, a voice AI technology startup, said Tuesday it has raised $130 million at a $1.3 billion valuation and plans to expand into international markets, launch new models, and make acquisitions.January 13th - According to foreign media reports, as core inflation unexpectedly declined slightly in December, investors rushed to buy US government bonds, causing a sharp drop in US Treasury yields and a sell-off of the US dollar. The US core inflation rate in December was 2.6% year-on-year, failing to accelerate to the predicted 2.7%. While these inflation indicators are unlikely to change expectations that the Federal Reserve will keep interest rates unchanged later this month, they may alleviate concerns that accelerating inflation could delay a new round of rate cuts.January 13th - According to CNBC analysis, the U.S. core consumer price index (CPI) rose less than expected in December, further strengthening market confidence that inflation is cooling as the Federal Reserve considers its next interest rate policy move. Data released Tuesday by the Bureau of Labor Statistics showed that the seasonally adjusted core CPI rose 0.2% month-on-month and 2.6% year-on-year, both 0.1 percentage points lower than market expectations. Overall, both the monthly and year-on-year CPI rates were in line with market expectations. This report indicates to some extent that the pace of price increases is slowing towards the Feds 2% target, but the level remains relatively high. Among the sub-items, housing costs, a key factor with strong inflation stickiness, rose 0.4% month-on-month, becoming the largest single contributor to the CPI increase that month. This category accounts for more than one-third of the CPI and rose 3.2% year-on-year.January 13th - According to Reuters, traders increased their bets on Tuesday that the Federal Reserve might not wait until Fed Chairman Jerome Powells term ends in May to cut interest rates, after the U.S. Bureau of Labor Statistics reported that basic consumer price increases were slightly lower than expected. While traders still believe a June rate cut is the most likely outcome, the latest data projects a 42% probability of a Fed rate cut in April, up from 38% before the data release.January 13th - Market analyst Ira Jersey stated that the reassurance brought by the lack of a substantial surge in US inflation has led to blind optimism in the market and pushed up bond yields. The overall CPI increase of 2.7% year-on-year implies that the core PCE annual rate will be below 2.5%, paving the way for the Federal Reserve to adopt a more dovish stance. While a January rate cut is not considered a certainty, it undoubtedly brings the possibility of a March rate cut under consideration.

Al Gore asserts that climate change action has reached a "tipping point"

Haiden Holmes

Sep 21, 2022 10:35

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Al Gore, a former vice president of the United States and co-founder of Generation Investment Management, stated in an interview with Reuters that the world has reached a "positive tipping point" in the fight against climate change as rising oil and gas prices prompt governments to decarbonize more rapidly.


His examples included the $430 billion Inflation Reduction Act, which is widely regarded as the largest climate package in U.S. history, and Australia's promise earlier this month to decrease carbon emissions by 43 percent by 2030 and to net zero by 2050.


Gore anticipated policy shifts on climate change from Brazil following an impending election and from China following the resumption of talks between President Joe Biden and Chinese Vice Premier Liu He at the November G20 summit in Indonesia.


The war in Ukraine, which Russia refers to as a "special military operation," has caused oil and gas prices to spike, he said, adding that he was concerned about the efforts of some nations to increase fossil fuel production in response.


Gore stated that there is no such thing as a clean fossil fuel, just as there is no such thing as a healthy cigarette. According to the authors, "we do not want to see investments in fossil fuel infrastructure that A will not alleviate the short-term crisis and B would guarantee decades of increasing emission levels."


He stated, "There is evidence nearly everywhere in the world" of the accelerating rate of change, and added that worsening weather events were also pushing the imperative to act.


Al Gore stated that heatwaves in China, floods in Pakistan, and drought in Europe are examples of how "Mother Nature has joined the climate discussion."


In both "An Inconvenient Truth" (2006) and "An Inconvenient Sequel" (2017), Al Gore, the former vice president of the United States, argues that the struggle against climate change is a moral one.


In 2007, he shared the Nobel Peace Prize for his efforts to address climate change while serving as the chairman of Generation Investment Management, a London-based firm that invests in sustainable public and private markets and conducts research.


He said that some governments are removing fossil fuel facilities with decades of remaining life due to the declining cost of renewable electricity, while others are considering banning the sale of fossil fuel-powered automobiles.


"When the technology provides three times as many jobs per invested dollar as investments in fossil fuels, a very good tipping point will be reached," he stated.


In its most recent annual sustainability trends report, published on Wednesday, Generation anticipated that annual investments in the clean economy would surpass $1 trillion over the next few years.


According to the research, while this is less than what is required to keep global warming at 1.5 degrees Celsius over the pre-industrial average, it is increasing "at a rapid rate."

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