Global Warming and CEO Leadership (but make it interesting!)
good morning. I was hoping to write to you from Toronto, but my flight was cancelled due to a thunderstorm. Of course, the storm is nothing new, and there is no steamy New York summer. But 2024 was Warmer year on record And the pattern continues this year, affecting every part of the planet. (Japan recorded the highest temperature on July 30th at 41.2 degrees Celsius, or 106.2 degrees Fahrenheit.)
The US Department of Energy has recently appeared A splendid report It downplays climate change to justify rolling back regulations to address it. Instead, we recommend that readers check out their tools, lessons and insights Supports extreme heath risk governanceIt was released last week on its 1st anniversary. The UN Secretary-General’s call for action on Extreme Heath.
Whether you’re running around the house from LaGuardia after a cancelled flight or trying to escape, it’s easy to feel helpless against the whims of Mother Nature The imminent tsunami. But there is much we can do to help people adapt to the reality of a warming planet and mitigate its effects, especially leaders who are in a position to create new products, policies and practices.
Readers of this newsletter know that I am an economist fan Spencer GlendonI’ve been following for a long time The impact of climate change. He often talks to Fortune 500 leaders and their team about the path to advance into business. We will be holding a climate dinner for C-Suite leaders on September 23rd. Deloittealso sponsored by this newsletter. It also plans to showcase and report more dialogues on innovation in energy and related issues. My colleague Jordan Blum It helps us lead the way. What can be done through technology is exciting.
As a university student in Nairobi, I worked part-time as a writer for the United Nations Environment Programme. When I wrote the first speech for Executive Director Mostafa Tolba, his advice was to “make it interesting.” I spent the night trying to come up with a joke about desertification, but just to make it clear that the goal was to make a joke. henot degradation of fertile land. These challenges can sometimes find abstractly very large and difficult to handle. When we connect as humans, he said, we can get things done.
Top News
Customs Date: New Tax on US Imports
President Trump has signed an executive order to raise tariff charges for dozens of countries on imports into the United States. Rates range from 10% to 41%. Items that have been “transshipd” through third countries to avoid customs duties face a 40% rate. CNBC has a good summary here. There are collapses in each country here. Read the official executive order here.
Canada faces 35% tariffs
Northern Naigbour in the US There was a higher rate This is because Trump is unhappy with Canada’s efforts to stop the fentanyl flow. However, products previously covered by the USMCA contract are exempt.
Mexico gets 90-day extension
president I said: “The complexity of the transaction with Mexico is somewhat different from other countries due to both border issues and assets. We agreed to extend the exact same transaction as 90 days, the last short period, that is, Mexico pays 25% fentanyl tax, 25% fantarif, copper tariff, 50% tariff, 25% tariff, 25% tariff. There was a lot of that to close the non-tariff trade barrier right away.”
It may all be useless
Yesterday, the Federal Circuit Court of Appeals in Washington, DC, United States, stated that SAT EN BANC To hear the appeal It overturns all of Trump’s customs orders. The state and small business groups have alleged that the president has no authority to impose emergency situations under the IEPA to impose tariffs without Congressional approval. When the judge heard of the incident, he was thought to be skeptical of the administration’s defense. The case will be sent to the US Supreme Court.
Trump is threatening pharmaceutical companies
president I wrote it Commit to 17 pharmaceutical companies to lower drug prices, or otherwise. “If we refuse to step up, we can deploy all our tools to Arsenal to protect our American families from abusive drug prices,” Trump wrote. It is unclear whether Trump has a legal power company to change prices.
Apple and Amazon beat revenue expectations
Both Apple and Amazon broke Wall Street revenue expectations in their revenue report on Thursday, with Apple setting its quarterly revenue record at $94 billion, among other things. apple I saw it During AWS, Amazon’s cloud computing arm, the majority of its growth from its iPhone business is Fuel supply Increase in income.
Figma debut stance
Sharing Figma Almost three times On Thursday, the design software company’s first day trading on the New York Stock Exchange. Currently, its market capitalization is around $46 billion, about $26 billion more than Adobe offered to buy the company in 2023.
Ray Dario sells the final bridge water stake
It’s the end of the era: Voluble billionaires investor I also gave up on his board sheet.. He is personally invested in Bridgewater’s funds.
market
S&P 500 Futures This morning, it fell 1% before the market price after the index fell 0.37% yesterday. Stoxx Europe 600 Early trading saw a 1.29% decrease. UK FTSE 100 Early trading saw a 0.65% decrease. Japan Nikkei 225 A decrease of 0.66%. China’s CSI 300 A decrease of 0.51%. South Korea Kospi A 3.88% decrease. India’s Nifty 50 It has decreased by 0.5%. Bitcoin It fell to $114K.
From an analyst
Regarding customs duties: “The impact on muted markets shows a much larger focus on data and prolonged expectations of trade transactions,” Francesco Pesole et al.
UBS regarding customs: “The global economy is echoing with the dull cries of taxation that falls on the shoulders of US consumers. These taxes will not appear fully powerfully in consumer baskets until January next year. The question is whether the courts will overturn these taxes.
Goldman Sachs on Expectations for Today’s Job Number: “In July, we estimate that non-farm payroll will increase by 100K, below the 105k consensus and a three-month average of +150k. On the positive side, the big data indicator showed rebounds in private sector employment growth, but still showed rebounds at a soft pace.
Around the water cooler
Is eBay actually sexy again as ecommerce’s old timer inventory surges to an all-time high? Jason d
Warren Buffett’s Berkshire Hathaway and Girow say mortgage rates won’t drop enough because Americans can afford a home By Lake Sydney
Hermes CEO says the booming Birkin resale market will prevent luxury brands from serving “real customers.” Sasha Rogelberg
Jamie Dimon just gave a thumbs up to stablecoins, but still doesn’t say anything good about Bitcoin By Ben Weiss
CEO Daily has been edited and edited by Joey Abrams and Jim Edwards.