(Bloomberg) — Good morning. Today we bring you a special edition of highlights from the Bloomberg New Economy at B20 Forum, which concluded yesterday in São Paulo and brought together new economy leaders from the public and private sectors. Solve the most pressing challenges and set the agenda for development and economic transformation.
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Also, stock prices will rise. Tesla announces stunning results; employees reject Boeing’s offer.
energy transition
-Written by Daniel Cancel
Brazil’s position on the front lines of climate change and how it can leverage its natural resources to attract more investment amid rising geopolitical instability was explored at B20 in São Paulo. It was a recurring theme at the New Economy conference.
From Bill Gates to leaders of agricultural giants and technology companies, they see opportunity in the need to reduce climate costs for consumers, private sector efforts, and government support. We were able to attract more capital to fund and scale our solution.
More than 90% of Brazil’s energy network comes from renewable sources, paving the way to producing everything from steel to hydrogen and powering the data centers needed to advance technological solutions. But the country needs to do a better job of marketing itself to the world, said Karina Saad, partner at the MEP’s family office.
“When we tell our own stories, we also tell stories for other Brazilians. “We don’t tell stories thinking about foreign actors,” he said at the event. He spoke at
Given how scarce capital is for developing countries, it is even more important that they become attractive investment destinations. According to Paul Polman, former CEO of Unilever and co-author of Net Positive, only 7% of climate finance goes to emerging markets.
Andre Estevez, president of BTG Pactual, said the country has the potential to become a hub for data centers as it becomes increasingly difficult to connect to clean energy sources in other countries.
“Brazil has made large investments in transmission lines and renewable energy, which are inexpensive and fully available,” he said. “And Brazil has the potential to become a very important hub for the global data centers needed around the world.”
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Gates, the Microsoft co-founder, said the company is investing in everything from fusion to nuclear energy to health care to lower the cost of cleaner solutions. These include companies that produce green steel in cooperation with Brazilian partners. But his opinions on Brazil are mixed.
“The situation is complicated because Brazil has a lot of assets but challenges when it comes to governance. “It’s a thing,” he said.
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Other highlights:
U.S. Trade Representative Katherine Tai advised Brazil to carefully consider the risks of joining China’s Belt and Road Initiative, suggesting it prioritize its economic resilience and sovereignty.
Bill Gates said Brazil’s efforts to curb deforestation are encouraging, but political changes are making it difficult to secure the investment needed to protect the Amazon.
Executives at the forum said the non-aligned political position should serve as a guide for world leaders to avoid sacrificing commercial business, as maintaining global trade is the most important issue for countries and businesses. He said that.
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Stock prices are rising
The S&P 500 is headed for its first gain of the week after Tesla’s surprising results and a string of strong results in Europe. Fills on the benchmark index showed stocks opening 0.5% higher on Wall Street. Nasdaq 100 futures rose nearly 1%, U.S. Treasuries rose from the start of the week and the dollar fell.
Tesla’s brilliance
Tesla Inc. rose 13% in premarket trading after reporting its biggest quarterly profit in more than a year and predicting a 20% to 30% increase in car sales next year. The company’s third-quarter results were boosted by the Cybertruck, lower material costs and sales of regulatory credits to automakers. CEO Elon Musk offered an optimistic outlook for next year, with the launch of more affordable models and expansion of the company’s energy business.
the strike continues
Boeing workers rejected a new labor contract that would have increased wages by 35% over four years, deepening the aircraft maker’s crisis. The deal forces Boeing and the union to return to the bargaining table after six weeks of on-and-off negotiations. The White House sent acting Labor Secretary Julie Su to Seattle to try to defuse the situation. Boeing shares fell 2.7% in premarket trading in the U.S., down about 40% this year and its worst annual performance since 2008.
President Trump boosts dollar
Standard Chartered said the dollar’s rise this month was largely due to betting markets pointing to Donald Trump winning the US presidential election. He estimates that 60% of the currency’s gains in October were related to the growing belief that the former president will win the Nov. 5 election. Many analysts say Trump’s presidency will boost the dollar, given the prospect of higher tariffs and the accompanying volatility in markets that tend to favor safe-haven assets.
Premium per period
The possibility of a big Republican victory has emerged as one of the big themes this week, and the current indicator to watch is the rebound in the 10-year Treasury term premium, which has risen to its highest level since last November. This indicates increased investor concern about future risks and is likely due to a combination of factors, including the presidential election, fiscal and tariff risks, and resilient economic indicators. The bond market is selling, with the Bloomberg Treasury index down 2.1% in October and the 10-year Treasury yield near 4.25%.
what we are reading
Argentina seeks USD 2.7 billion to cover maturities
Gates says Brazil’s political ups and downs violate Amazon security
Tesla’s results beat expectations on strong deliveries
Brazil needs to assess China’s Belt and Road risks: US’s Tai
Fed’s Beige Book Shows Weak Economic Growth
World leaders need to adopt a non-aligned position: cadres
CEO Barbieri says Huara’s customer base will double within three years
Nubank focuses on Millay’s Argentina: CEO
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–Collaboration with Daniel Cancel.
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