The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous climate change scenarios could have on their bottom lines
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Noting the risks could be “material,” the Fed said the banks will have to show how their finances fare under a number of climate stress tests, including heat waves, wildfires, floods and droughts, according to details of a new Fed pilot program released on Tuesday.
” Chips are the new oil The discovery, movement and use of oil has played an outsized role in shaping geopolitics over the past century and a half. But over the next 50 years, global interaction and wealth are more likely to be influenced by microchips, Intel CEO Pat Gelsinger told CNN Tuesday.
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2 killed in shootout with federal agents near Puerto RicoTwo suspected drug traffickers were killed early on Sunday in a shootout with federal agents off Puerto Rico’s northeast coast, officials say.
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Honor MLK with federal voting rights protectionsIt bothers us that another Martin Luther King Jr. birthday celebration will pass without Congress honoring the late civil rights leader’s memory with federal...
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