Fed’s climate concern, Google’s sales

WASHINGTON (AP) — How far the Federal Reserve can go to compel banks to consider the consequences of climate change in their lending policies could take center stage at a Senate hearing Thursday on the nominations of Sarah Bloom Raskin and two economists to the Fed’s influential Board of Governors. The Fed is already moving toward analyzing the risks that banks face from rising temperatures and changing weather patterns. What many in the oil and gas industry fear is something more far-reaching: That the Fed may eventually take steps to discourage banks from lending to the energy industry — something it hasn’t previously considered in its policymaking.

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Tesla recall: ‘Full Self-Driving’ software runs stop signs

DETROIT (AP) — Tesla is recalling nearly 54,000 vehicles because their “Full Self-Driving” software lets them roll through stop signs without coming to a complete halt. Documents posted Tuesday by U.S. safety regulators say that Tesla will disable the feature with an over-the-internet software update. The software allows vehicles to go through intersections with all-way stop signs at up to 5.6 miles (9 kilometers) per hour. Disregarding stop signs is illegal in most states. The recall covers Model S sedans and X SUVs from 2016 through 2022, as well as 2017 to 2022 Model 3 sedans and 2020 through 2022 Model Y SUVs. Tesla says it has no reports of crashes or injuries.

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Google’s Q4 ad sales soar again, parent plans to split stock

SAN RAMON, Calif. (AP) — Google’s digital advertising empire turned in another strong performance during the holiday shopping season, propelling a 36% increase in its corporate parent’s revenue during the final three months of 2021. The results announced Tuesday underscore how technology giants have adapted to become even more successful during a nearly two-year pandemic that has roiled much of the economy. In a show of confidence intended to make its shares more affordable to a broader pool of investors, Google parent Alphabet also announced plans for its first stock split since 2014. Alphabet’s shares surged 7% on the news.

https://www.stamfordadvocate.com/business/article/Business-Highlights-Fed-s-climate-concern-16823325.php

Jinggo B Danuarta

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Business News for Jan. 13, 2022

Wed Feb 2 , 2022
Navient, once one of the country’s largest student loan servicing companies, reached a $1.85 billion deal with 39 states to settle claims that it had made predatory loans that saddled borrowers with crushing debts they were highly unlikely to repay. The deal, announced Thursday, requires Navient to cancel $1.7 billion […]