Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.
Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.
This week I'm driving the GMC Yukon Denali, which was redesigned for the 2021 model year.
The big picture: The Yukon, along with GM's other full-size SUVs (the Cadillac Escalade and Chevrolet Tahoe and Suburban), are the company's moneymakers, hauling in about $10,000 profit per vehicle, analysts estimate.
Without them, GM wouldn't have the capital to invest in future technologies like electric, self-driving cars.
General Motors is finding love on Wall Street, something it hasn't experienced in a very, very long time.
What's happening: Investors are beginning to give credence to the Detroit automaker's electric vehicle strategy — or they're looking for a cheaper way to participate in the Tesla-inspired run-up in electric vehicle stocks.
Oil-and-gas giant Total said this morning that it's leaving the American Petroleum Institute, which is the industry's most powerful U.S. lobbying group.
Why it matters: It's the biggest rupture yet between European-headquartered multinational oil majors and U.S.-based trade groups over climate policy.
China has a workable path toward making a huge head start on its long-term climate pledges by ensuring that essentially all new power generating capacity added going forward is zero-carbon, a new analysis argues.
Driving the news: The report out today offers what authors call a technically and economically feasible roadmap for transforming China's power sector over the next 10 years.
Christiana Figueres, an architect of the Paris climate agreement, will be joining the board of alternative protein startup Impossible Foods, Axios has learned.
Why it matters: Figueres's move is a sign of the growing importance of the alt-protein sector, and an acknowledgement that solving climate change needs to include addressing food and agriculture, as well as energy.
