Tuesday morning news drop
The home of Canada's energy sector is set to outpace the country in renewables growth: forecast Alberta and Saskatchewan are expected to overtake Ontario in renewable power capacity (CBC)
'The fire has been lit': U.S. Federal Reserve's push for digital dollar worries Wall Street A digital currency could fundamentally change the way Americans use money, leading some financial firms to lobby the Fed and Congress to slow its creation (Financial Post)
The Wealth Gains That Made 2020 a Banner Year for the Richest 1% The richest 1% of households saw their net worth rise by some $4 trillion in 2020, meaning that they captured about 35% of the extra wealth generated nationwide, according to the latest quarterly study of household wealth from the Federal Reserve. The poorest half of the population, by contrast, got about 4% of overall gains. (Bloomberg)
Financial world greenwashing the public with deadly distraction in sustainable investing practices Former BlackRock executive blows the whistle on Greenwashing; Fear of missing out on fund flows gives asset managers a strong incentive to pretend all their offerings are green. (USA Today)
‘I’m in a really dark place’: Complaints at Goldman Sachs set off a workplace debate. A group of 13 disgruntled first-year analysts at Goldman Sachs has made waves by assembling a professional-looking presentation in the company’s style about their experiences at the investment bank. They work an average of around 100 hours per week, rating job satisfaction as 2 out of 10; they were unlikely to stay at Goldman. (New York Times)
Forget griping staffers, investors love Goldman Sachs’ David Solomon He uses the corporate jet to travel to his mansion in the Bahamas, even as he indulges in hobbies that include pricey wines, kitesurfing and DJing at nightclubs — all the while demanding that his people get back to the office as the COVID pandemic subsides. (New York Post)
The coal plant next door Near America’s largest coal-fired power plant, toxins are showing up in drinking water and people have fallen ill. Thousands of pages of internal documents show how one giant energy company plans to avoid the cleanup costs for coal ash. (Georgia Health)
How Beeple Crashed the Art World An N.F.T., or “non-fungible token,” of the digital artist’s work sold for sixty-nine million dollars in a Christie’s auction. It’s good news for crypto-optimists, but what about for art? (New Yorker)
March 22 Victoria Housing Market Update It’s been one year since the pandemic hit the real estate market in Victoria. Few predicted that we would still be in the middle of it 12 months later, and no one predicted an unprecedented economic shock would ignite an ultra hot market across the entire country. (House Hunt Victoria)
