finance

Today’s obits: Kevin Sinclair graduated from Bishop Ludden, worked as finance consultant

Kevin M. Sinclair, 40, died Tuesday, July 13, 2021.

Born and raised in Syracuse, he attended St. Patrick’s Elementary School and graduated from Bishop Ludden Jr./Sr. High School in 1999, according to his obituary.

He received a degree in finance from State University of New York at Binghamton where he was a member of the Chi Phi fraternity. He had lived in New York City and San Francisco for extended periods.

Sinclair worked in finance as a consultant for HarperCollins Publishers, Bank of America and most recently Wells Fargo.

He enjoyed traveling and had visited various countries including Vietnam, Japan

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Democrats’ Budget Would Finance Sweeping Clean-Energy Plan

The $3.5 trillion budget plan from congressional Democrats would finance a far-reaching transition to cleaner power, but it is expected to face opposition from parts of the energy industry and their industrial customers over provisions likely to raise their costs.

The plan calls for paying money to utilities that make a fast transition to cleaner fuels—and levying financial penalties for those that move slowly, one of several largely untested programs in the package. Others include tariffs on imports based on their production’s greenhouse-gas emissions, and creating first-of-their-kind fines on oil-and-gas producers for leaking greenhouse gases into the atmosphere from their … Read More

Square’s Decentralized Finance Plan Could Go Mainstream, One Analyst Says

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Jack Dorsey, co-founder & CEO of Square, at a Bitcoin convention on June 04, 2021, in Miami.


Joe Raedle/Getty Images)

Jack Dorsey’s tweet late Thursday announcing a new business unit at

Square

dedicated to developing a decentralized finance platform set off a flurry of reactions from crypto junkies and mainstream consumers alike. Many wonder what this means for Square’s (ticker: SQ) business going forward. One analyst regards move as having potential for expanding decentralized finance to the general public.

While Dorsey’s tweet was vague regarding financial details, BTIG analyst Mark Palmer wrote in a note that he’s optimistic

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Indonesia to balance economy with pandemic support: Finance minister

Indonesia needs to “protect the people” and spend more to support them during the pandemic — and it’s not likely to impair the economic recovery, the country’s finance minister, Sri Mulyani Indrawati, claimed on Tuesday.

The so-called social safety net for Indonesians has been increased by 20% while health-care expenditure has been upped by nearly 19%, Sri Mulyani told CNBC’s “Squawk Box Asia” on Monday. Indonesia’s social safety net policies extend government support to the poor and those impacted by economic crisis.

“This is definitely shifting on our focus on the budget to protect the people,” she said. “Certainly, we

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How decentralized finance will transform business financial services

  • Decentralized finance (DeFi) is emerging as a tool for smaller businesses in developing markets, particularly for remittances and small loans;
  • The transaction banking industry is beginning to see DeFi’s potential to overhaul the inflexibility of present processes;
  • Uptake of DeFi in transaction banking could open up new capital opportunities for larger companies and increase liquidity for SMEs.

Decentralized finance had a resurgence last summer. Cryptocurrencies like bitcoin and ether are now becoming more widely accepted for payments and USD Coin (USDC) has made significant progress towards being an asset that will maintain its value without future depreciation.

At the same

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EU further delays sustainable finance rules for asset managers

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman

LONDON, July 9 (Reuters) – The European Union has been forced to delay the second phase of landmark rules that require asset managers to show how they take environmental and other issues into account by a further six months to July 2022, an EU letter seen by Reuters said.

The delay comes as the volume of cash going into products that tout their ESG attractions has been accelerating, raising concerns among regulators about “greenwashing” or over-egged climate-friendly credentials.

The Sustainable Finance Disclosure Regulation

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Huawei finance chief faces setback in fight against US extradition | Huawei

A Canadian judge has denied an application by Meng Wanzhou, the Huawei chief financial officer, to add documents her legal team received from HSBC as evidence to her US extradition case, the judge announced on Friday.

Meng, 49, is facing extradition from Canada to the US on charges of bank fraud for allegedly misleading HSBC about Huawei’s business dealings in Iran, potentially causing the bank to break US sanctions. She has been held under house arrest in Vancouver since December 2018, when she was first detained.

Her legal team received a trove of over 300 pages of internal documents from

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Michael Burry should have retired after ‘The Big Short’ and should stop tweeting alarming market-crash warnings, finance professor Aswath Damodaran says

  • NYU’s Aswath Damodaran said Michael Burry should “stop talking” and avoid tweeting bearish forecasts.
  • The professor said Burry should have retired after successfully predicting the 2008 housing crash.
  • Damodaran said there are people who think deeply about markets, but Burry “is not one of them.”
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Dr. Michael Burry should have retired after successfully betting against the US housing market in the mid-2000’s and being the center of the book and movie “The Big Short,” Aswath Damodaran said.

In an interview with Moneycontrol published last

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Israel’s new finance chief might hurt the army, too – Haaretz Editorial

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Haaretz.com, the online English edition of Haaretz Newspaper in Israel, gives you breaking news, analyses and opinions about Israel, the Middle East and the Jewish World.

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3 ways the US can finance the future

Leaders of the G-7 Summit fell short on delivering strong commitments to advancing sustainable finance. Despite this disappointing outcome, the United States still has the opportunity to be a global leader on aligning finance with sustainability goals.

Prior to the G-7 Summit, the Biden administration had taken several steps to achieve key sustainable finance policy reforms. In May, the Biden administration issued a sweeping executive order calling on the federal government to begin quantifying the financial risks climate change poses to our economy and instructing the Department of Labor to formally review two Trump-era rules that undermined investors’ ability to

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