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. This forum brings together new economy leaders from the public and private sectors to address the most pressing challenges. Solve challenges and establish an agenda for development and economic transformation.
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.”
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.
Other highlights:
US Trade Representative Katherine Tai advises Brazil to carefully consider the risks of joining China’s Belt and Road Initiative, suggesting it will prioritize its economic resilience and sovereignty over deforestation. Brazil’s efforts to stop it are encouraging, but there are also political ups and downs. It will be difficult to get the investment needed to protect the Amazon, says Bill Gates, and maintaining global trade is the most important issue for each country, so the non-aligned political position will protect their own commercial businesses. He said that it should serve as a reference for world leaders so as not to undermine the country’s future. Business executives who participated in the forum said:
5 things of the day
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 (TSLA) rose 13% in premarket trading after the company reported its biggest quarterly profit in more than a year and expected car sales to rise 20% to 30% 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 (BA) employees have rejected a new labor contract that would increase wages by 35% over four years, deepening the aircraft maker’s crisis. The move 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.
Read more: Boeing workers reject second offer, strike continues
President Trump boosts dollar
According to Standard Chartered, the dollar’s rise this month is largely due to betting markets hinting at Donald Trump’s victory in 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.
Read more: Financial and betting markets tilt toward Trump victory over Harris
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 yield near 4.25%.
Learn more at bloomberg.com
