LBLV Apple invests $2.8 billion in green projects 2021/17/03
LBLV provides an overview of economic news. Website LBLV is available at - https://lblv.com/ The main economic news for Wednesday, March 17: 0:00 Uber provides minimum wage for its drivers 1:09 Apple invests $2.8 billion in green projects 2:08 Global stocks fall in anticipation of Fed meeting 3:12 BMW forecasts profits on good performance in 2021 1. Uber provides minimum wage for its drivers Starting Wednesday, Uber Technologies Inc. will classify 70,000 Uber drivers in the United Kingdom as "workers," meaning they are still not considered employees but will be paid minimum wage, vacation pay and possibly pensions. Uber announced the changes Tuesday afternoon in a statement to the SEC in response to a U.K. Supreme Court ruling last month. The company had been fighting a case brought by two Uber drivers in London's labor court in 2016 and appealed to the Supreme Court after losing three previous rounds in the battle. The British App Drivers & Couriers Union said on Twitter that it welcomed changes, but they fell short of what the ruling required. However, Tuesday's announcement could affect others in the nation's economy, where millions of people tend to work for one or more work-for-hire companies. Shares of Uber, which fell 2.2% to end the day's session at $58.85. They have risen more than 15% so far this year. 2. Apple invests $2.8 billion in green projects Apple Inc. said Wednesday it has committed $2.8 billion in green bonds that last year funded 17 projects that will generate 1.2 gigawatts of renewable energy. These projects will avoid annual carbon dioxide emissions equivalent to taking nearly 200,000 cars off the road. Green bonds are a category of fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low-carbon transport. Apple, one of the largest issuers in the private sector, plans to become carbon neutral by 2030. Since 2016, the company has issued three sets of green bonds totaling $4.7 billion. Apple's 2020 green bond projects include the installation of two onshore wind turbines in Denmark, the largest in the country, and a 180-acre solar power plant near its Reno data center. Shares of Apple was up 1.27% on Tuesday. 3. Global stocks fall in anticipation of Fed meeting Global markets fell Wednesday, following Wall Street, as investors waited to see if the U.S. Federal Reserve would signal a quicker path to policy normalization than previously expected. The U.S. central bank ends its two-day meeting later in the day. The regional equity index excluding Japan retreated 0.5%, led by a decline in South Korea's Kospi. The Shanghai Composite Index lost 0.3% and Hong Kong's Hang Seng fell 0.3%, while the rest were nearly unchanged. Meanwhile, European stocks were also set to open weaker, with Euro Stoxx 50 futures down 0.1% region-wide. Market volatility due to bond yields and progress with vaccination has spurred speculation that the Fed may be forced to make a technical adjustment to its policy, but few expect the central bank to act on the issue at this week's meeting, even if it releases rosier growth forecasts. On Tuesday, the Dow Jones Industrial Average fell 0.39%, while the S&P 500 lost 0.16%. 4. BMW forecasts profits on good performance in 2021 German automaker BMW said Wednesday that it expects a significant increase in group pre-tax profits in 2021 compared with the previous year as it forecast strong performance in all segments. BMW, which also owns the MINI and Rolls-Royce brands, said it expects shipments in the auto segment to increase significantly from a year earlier, with segment EBIT margins rising to 6-8%. About 90% of the market segments will have all-electric models by 2023, with the BMW i4 model launching three months early, the automaker said in a statement. The company started the new year with strong momentum and intends to get back to pre-crisis levels as quickly as possible – and go even further. BMW shares were up 2.2% in premarket trading at Lang & Schwarz.
LBLV provides an overview of economic news. Website LBLV is available at - https://lblv.com/ The main economic news for Wednesday, March 17: 0:00 Uber provides minimum wage for its drivers 1:09 Apple invests $2.8 billion in green projects 2:08 Global stocks fall in anticipation of Fed meeting 3:12 BMW forecasts profits on good performance in 2021 1. Uber provides minimum wage for its drivers Starting Wednesday, Uber Technologies Inc. will classify 70,000 Uber drivers in the United Kingdom as "workers," meaning they are still not considered employees but will be paid minimum wage, vacation pay and possibly pensions. Uber announced the changes Tuesday afternoon in a statement to the SEC in response to a U.K. Supreme Court ruling last month. The company had been fighting a case brought by two Uber drivers in London's labor court in 2016 and appealed to the Supreme Court after losing three previous rounds in the battle. The British App Drivers & Couriers Union said on Twitter that it welcomed changes, but they fell short of what the ruling required. However, Tuesday's announcement could affect others in the nation's economy, where millions of people tend to work for one or more work-for-hire companies. Shares of Uber, which fell 2.2% to end the day's session at $58.85. They have risen more than 15% so far this year. 2. Apple invests $2.8 billion in green projects Apple Inc. said Wednesday it has committed $2.8 billion in green bonds that last year funded 17 projects that will generate 1.2 gigawatts of renewable energy. These projects will avoid annual carbon dioxide emissions equivalent to taking nearly 200,000 cars off the road. Green bonds are a category of fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low-carbon transport. Apple, one of the largest issuers in the private sector, plans to become carbon neutral by 2030. Since 2016, the company has issued three sets of green bonds totaling $4.7 billion. Apple's 2020 green bond projects include the installation of two onshore wind turbines in Denmark, the largest in the country, and a 180-acre solar power plant near its Reno data center. Shares of Apple was up 1.27% on Tuesday. 3. Global stocks fall in anticipation of Fed meeting Global markets fell Wednesday, following Wall Street, as investors waited to see if the U.S. Federal Reserve would signal a quicker path to policy normalization than previously expected. The U.S. central bank ends its two-day meeting later in the day. The regional equity index excluding Japan retreated 0.5%, led by a decline in South Korea's Kospi. The Shanghai Composite Index lost 0.3% and Hong Kong's Hang Seng fell 0.3%, while the rest were nearly unchanged. Meanwhile, European stocks were also set to open weaker, with Euro Stoxx 50 futures down 0.1% region-wide. Market volatility due to bond yields and progress with vaccination has spurred speculation that the Fed may be forced to make a technical adjustment to its policy, but few expect the central bank to act on the issue at this week's meeting, even if it releases rosier growth forecasts. On Tuesday, the Dow Jones Industrial Average fell 0.39%, while the S&P 500 lost 0.16%. 4. BMW forecasts profits on good performance in 2021 German automaker BMW said Wednesday that it expects a significant increase in group pre-tax profits in 2021 compared with the previous year as it forecast strong performance in all segments. BMW, which also owns the MINI and Rolls-Royce brands, said it expects shipments in the auto segment to increase significantly from a year earlier, with segment EBIT margins rising to 6-8%. About 90% of the market segments will have all-electric models by 2023, with the BMW i4 model launching three months early, the automaker said in a statement. The company started the new year with strong momentum and intends to get back to pre-crisis levels as quickly as possible – and go even further. BMW shares were up 2.2% in premarket trading at Lang & Schwarz.