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SEC Secures Significant Victory in Lawsuit Against Cryptocurrency Exchange Coinbase

The Securities and Exchange Commission achieved a significant victory in its legal battle against Coinbase on Wednesday, as a judge ruled that the accusation...

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Half of Energy Companies Lack Emission Reduction Plans

Citi, the fourth-largest U.S. bank, released a climate report revealing that nearly half of the energy companies it lends to lack comprehensive plans to cut greenhouse gas emissions. The bank categorized these companies based on their strategies to reduce emissions across three scopes, with a significant portion failing to provide substantive transition plans. Many energy firms neglected to disclose Scope 3 emissions, which account for a substantial portion of their carbon footprints. Scope of Transition Plans Analysis of Citi's energy clients found that only 8% had comprehensive transition plans targeting emissions reductions across all scopes, demonstrating a clear commitment to sustainability. When excluding Scope 3 emissions, this proportion increased to 37%. Despite these findings, Chief Sustainability Officer Valerie Smith emphasized...

Adam Neumann’s Initial $500 Million Bid for WeWork May Surge to $900 Million with Firm Financing and Diligence

Adam Neumann has "submitted an unsolicited bid over $500 million to acquire WeWork out of bankruptcy," according to a source familiar with the situation speaking to CNBC. "Neumann’s financing was not immediately clear," although CNBC's sources indicated that Dan Loeb’s Third Point was not involved in the offer. Neumann’s counsel had previously suggested that Loeb’s investment firm was supporting his bid, but Third Point contradicted this in a prior statement. The uncertainty surrounding Neumann’s financing, along with his past performance at the company, could affect WeWork’s willingness to consider his offer. Neumann, along with his family office Nazare and his Andreessen Horowitz-backed real estate venture Flow, filed a notice of appearance in WeWork’s bankruptcy docket on Monday. "A coalition...