<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> is forming a new subsidiary that will take care of the electric vehicle business.</li><li>Also, in association with Tata Power, it will develop charging infrastructure to facilitate rapid EV adoption in India</li><li>This comes in line with the company’s goal to launch 10 electric vehicle models by 2025.</li></ul>US-based <keyword id="12297523" type="General" weightage="20" keywordseo="TPG-Rise-climate" source="Orion">TPG Rise Climate</keyword> along with Abu Dhabi Development Holding will make an investment worth ₹7500 crore (around $1 billion at current prices) in Tata Motors’ <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword> (EV) segment. Tata Motors will form a new subsidiary for its electric vehicle business that will hold the investment made by these funds. Tata Motors said the new company will leverage all existing investments and capabilities of Tata Motors and will channelise the future investments into electric vehicles space including charging infrastructure and battery technologies. Over the next 5 years, this company will create a portfolio of 10 electric vehicles. Further, in association with Tata Power it will develop charging infrastructure to facilitate rapid EV adoption in India. This comes in line with the company’s goal to launch 10 electric vehicle models by 2025. Tata Motors already has two EV models -- SUV Nexon EV and subcompact sedan Tigor EV. It r<a href="https://auto.hindustantimes.com/auto/news/tata-motors-sees-21-jump-in-sales-nexon-tigor-helps-ev-sales-to-grow-by-250-41633082366148.html">eportedly</a> has a 70% market share among EV makers in India. <div type="image" title="tata motors 2" height="900" width="1200" msid="86967983" hostid="261"></div> The automaker has been doing pretty well in terms of sales of EV models as its sales went up three-fold in the last 12 months, shows company data. Tata Motors sold 1,078 units of electric vehicles in September, up from a mere 308 units in September last year. Overall, it has sold 10,000 EVs in India so far, largely because of the success of the Nexon EV SUV. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-allows-domestic-flights-to-operate-at-full-capacity-from-monday/articleshow/86965330.cms">India allows domestic flights to operate at full capacity from Monday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/former-sbi-chair-rajnish-kumar-joins-bharatpe-to-guide-its-transformation-to-a-small-finance-bank/articleshow/86963500.cms">Former SBI chair Rajnish Kumar joins BharatPe to guide its transformation to a small finance bank</a>

TPG makes a billion dollar bet on Tata Motors’ EV dreams

<ul><li>Shares of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> rallied 15% as private equity firm TPG’s Rise Climate Fund has committed to invest ₹7,500 crore (around $1 billion at current prices) in the company’s EV business.</li><li>The development has turned analysts positive on the company’s EV dreams as they believe Tata Motors’ volumes will surge in the near term due to lack of competition.</li><li>The automaker aims to create a portfolio of 10 electric vehicles in the next five years.</li></ul>Shares of Tata Motors stole the limelight on Wednesday as it rallied 15% as analysts turned bullish on the company’s electric vehicle (EV) business after it announced a billion dollar investment by a private equity firm on Tuesday. Private equity firm TPG’s Rise Climate Fund along with Abu Dhabi Development Holding will make an investment worth ₹7500 crore (around $1 billion at current prices) in Tata Motors’ electric vehicles (EV) segment, it had said. Analysts believe the development will turn fortunes for the company reeling from its Jaguar Land Rover business. “Lack of competition in the near term may continue to benefit Tata’s EV volumes though progress has to be tracked,” said analysts at HSBC while raising the target price for the stock to ₹550. At 9:36 a.m., on Wednesday, shares of the company were trading nearly 15% higher at ₹483. Meanwhile, Kotak Institutional Equities and Nomura upgraded their rating for the stock to “BUY”. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New target prices for Tata Motors’ stock </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹547 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HSBC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹550 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹565 </td></tr></tbody><tbody></tbody></table> “We believe the domestic EV business can be the game changer for the company given strong government push amid favorable policies and growing consumer demand for greener solutions,” said a report by Kotak Institutional Equities. Tata Motors’ domestic passenger vehicle business currently has 71% market share in the EV segment with revenues of around ₹5-6 billion as of FY2021, according to Kotak’s report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-gets-a-billion-dollar-investment-from-tpg-group/articleshow/86966522.cms">TPG makes a billion dollar bet on Tata Motors’ EV dreams</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/from-home-sales-and-jewellery-to-power-consumption-these-sectors-are-back-to-pre-pandemic-levels/articleshow/86976154.cms">From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-tata-motors-infosys-wipro-and-other-hot-stocks-on-october-13/slidelist/86982754.cms">Reliance Industries, Tata Motors, Infosys, Wipro and other hot stocks on October 13</a>

Tata Motors rallies 15% as TPG’s billion dollars spark a series of upgrades for the stock

<ul class="summary-list"><li>Citigroup was massively bailed out by US taxpayers because it failed to manage key financial risks.</li><li>The bank is exposed to huge risks of fossil fuel stranded assets.</li><li>Citi's new CEO Jane Fraser must show global leadership and seize the energy transition.</li><li>Tim Buckley is Director Energy Finance Studies, Australasia at IEEFA.</li><li>This is an <keyword id="11905565" type="UNKNOWN" weightage="100" keywordseo="opinion" source="Orion">opinion</keyword> column. The thoughts expressed are those of the author.</li></ul>In September 2007, with a mortgage crisis clearly on the horizon, <a href="https://www.nytimes.com/2008/11/23/business/23citi.html">Citigroup's CEO Charles Prince III</a> gathered with his top executives to understand whether the bank - then the nation's largest - faced any risk. The consensus was no.How wrong they were. In a year's time, Lehman Brothers crashed, triggering a global financial collapse. Citigroup lost 90% of its value and 75,000 employees, and ultimately, needed US taxpayers to bail it out. Since that low point, the bank has worked hard to rehabilitate its image, but not its ability to understand and address key global financial risks.This month, <a href="https://anthropocenefii.org/afii-suek-bofa-citi-cmzb">Citi was named</a> as <a href="https://mailchi.mp/banktrack/commerzbank-citi-and-bank-of-america-among-banks-issuing-new-deal-for-russian-coal-giant-suek-just-two-months-before-cop26?e=e9f794d617">Joint Lead Managers for Suek</a>, Russia's largest coal miner, and owner of 17 gigawatts (GW) of coal power plants. The <a href="https://www.ifre.com/story/3041635/suek-finds-sanctuary-in-bond-markets-fpjjvgq9lp">proceeds of this bond issue</a> will <a href="https://www.fitchratings.com/research/corporate-finance/fitch-rates-proposed-suek-guaranteed-notes-bb-exp-01-09-2021">help finance 1.6 GW</a> of more coal power and another 28 million tonnes of new coal export port capacity per year. This deal is in direct contradiction to the Paris Agreement and the findings of the International Energy Agency's (IEA) recent <a href="https://www.iea.org/reports/net-zero-by-2050">Net Zero by 2050</a> roadmap, which couldn't be clearer, that to avoid impending climate catastrophe, there must be "<a href="https://www.iea.org/news/pathway-to-critical-and-formidable-goal-of-net-zero-emissions-by-2050-is-narrow-but-brings-huge-benefits">no investment in new fossil fuel supply</a> projects, and no further final investment decisions for new unabated coal plants."It also contradicts the spirit of <a href="https://blog.citigroup.com/2021/03/citis-commitment-to-net-zero-by-2050/">Citi's Commitment to Net Zero by 2050</a>, which CEO Jane Fraser announced on her first day on the job. Following that pledge, Citi joined the <a href="https://www.sustainable-markets.org/">Sustainable Markets Initiative</a> Financial Services Task Force, the Mark Carney-chaired <a href="https://www.unepfi.org/net-zero-banking/">Net-Zero Finance Alliance</a>, delivered a <a href="https://www.citigroup.com/citi/sustainability/data/Environmental-and-Social-Policy-Framework.pdf">strengthened but still flawed coal exit policy</a> and a <a href="https://blog.citigroup.com/2021/04/citi-commits-1-trillion-to-sustainable-finance-by-2030/">$1 trillion capital deployment</a> in low-carbon solutions pledge.What good are pledges and promises of distant future action when there is a climate emergency today?<h2>Banking on <keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">climate change</keyword> </h2>Citi remains a key global climate laggard, rated by the Rainforest Action Network as the <a href="https://www.ran.org/bankingonclimatechaos2021/#facts-panel">second largest financier of fossil fuels globally</a> in the five years leading to 2020 (second only to JPMorgan Chase). The bank has financed a staggering $237 billion in total, many multiples of the nearest Chinese mega-banks.As a former Citi Managing Director, I want to see the bank succeed. But a pivotal change is overdue after two decades of ongoing market underperformance. Since my days at Citi, I've worked primarily in the energy technology space, tracking the role of global finance and evaluating stranded asset risks and climate investment opportunities. At IEEFA we have tracked <a href="https://ieefa.org/finance-exiting-coal/">180 globally significant financial institutions</a> with formal coal exit policies. To date in 2021 we have seen 68 new or improved coal policies - a 33% increase on the run rate in 2020, which in turn was 60% more than reported in 2019. And with the rising number of zero emission <a href="https://www.unglobalcompact.org/take-action/events/climate-action-summit-2019/business-ambition">1.5 degree Celsius pledges</a>, we are seeing an accelerating global flight from the monumental risk of "stranded assets" in fossil fuel investments including coal, oil and gas, arctic drilling and oil sands. As <a href="https://www.woodmac.com/horizons/commit-and-collaborate-squaring-the-carbon-circle-for-oil-and-gas/">Wood Mackenzie</a> reported in August 2021, "The pool of investors that will agnostically invest in the oil and gas sector, indifferent to the energy transition, will continue to shrink."When it comes to climate, US banks lag behind European and Asian banks. But with the decisive climate leadership of <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2021/04/23/fact-sheet-president-bidens-leaders-summit-on-climate/">President Joe Biden</a>, and the increasingly clear climate risk guidance coming from the <a href="https://home.treasury.gov/faq-for-new-fossil-fuel-energy-guidance-for-the-multilateral-development-banks">US Department of the Treasury</a> and <a href="https://www.ngfs.net/en">Network for Greening of the Financial System</a>, this is Fraser's moment to break away from the pack and lead the way. Fraser must eschew the hubris of Citi's former leaders and demonstrate clarity of vision to see obvious global financial risks for what they are. A start would be making a more detailed commitment going into COP26 next month, one that rejects activities like funding giant Russian coal companies and similar projects the world will soon be forced to abandon. Citi should also commit to a clear end date beyond which the bank will not provide any financial assistance across its advisory, debt, equity and capital market services, to any company still building out greenfield oil, gas, and coal operations (including associated facilitation of rail and port infrastructure). These kinds of massive turnarounds in policy are possible. BlackRock, the world's largest financial institution, has moved at lightning speed from also being a global climate laggard in <a href="https://ieefa.org/ieefa-report-blackrocks-fossil-fuel-investments-wipe-us90-billion-in-massive-investor-value-destruction/">2019</a>. <a href="https://www.blackrock.com/corporate/literature/publication/blk-commentary-climate-risk-and-energy-transition.pdf">In 2021</a>, <a href="https://www.bloomberg.com/news/videos/2021-04-12/blackrock-s-fink-temasek-s-pillay-on-climate-investing-video">CEO Larry Fink</a> enthusiastically beat the drum about the magnitude of investment opportunities the changing climate entails. The firm set records on new <a href="https://www.bloomberg.com/news/articles/2021-04-08/blackrock-raises-4-8-billion-to-invest-in-renewable-power">zero emissions infrastructure</a>, <a href="https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/temasek-and-blackrock-launch-decarbonization-investment-partnership">private equity</a> in emerging climate technologies, and <a href="https://www.bloomberg.com/news/articles/2021-04-14/blackrock-s-record-breaking-esg-fund-looks-just-like-a-big-tech-etf">ESG</a> capital raises. These records were subsequently broken as <a href="https://www.reuters.com/business/sustainable-business/brookfield-raises-7-billion-global-energy-transition-fund-2021-07-27/">Brookfield</a> and <a href="https://press.tpg.com/news-releases/news-release-details/tpg-announces-54-billion-first-close-tpg-rise-climate-fund">TPG</a> followed suit, playing catch up to innovative global financial leaders like <a href="https://www.afr.com/chanticleer/big-picture-drives-macquarie-s-growth-20210908-p58pw4">Macquarie Group</a>.Citi should carefully evaluate the substance of BlackRock's pivot. The megabank can align its investments with the IEA's net-zero guidance, enhancing its risk-return profile in doing so. To stymie rapid global emissions growth, the world needs financial leadership to move away from fossil fuel legacy businesses of old and to start providing the multitude of technology solutions commercially viable today. Fraser should focus on the enormous opportunities in providing financial services to the zero emissions world leaders of tomorrow, and turn the bank's sorry past into global leadership.

I'm a former Citi executive. The bank failed to react to the warning signs before the 2008 financial crisis, and its record on climate change shows it's making the same mistake again.

<ul><li><keyword id="42169" type="PERSON" weightage="60" keywordseo="Bono">Bono</keyword> phoned former <keyword id="73982" type="POSITION" weightage="60" keywordseo="Treasury-Secretary">Treasury Secretary</keyword> <keyword id="164968" type="PERSON" weightage="60" keywordseo="Hank-Paulson">Hank Paulson</keyword> to recruit him as the head of a new climate fund, according to The New York Times.</li><li>"We don't just need the usual suspects, we need some 'unusual suspects,' if you like, and some unexpected partnerships in the conversation as well," the <keyword id="67389" type="ENTERTAINMENT" weightage="60" keywordseo="U2">U2</keyword> frontman and philanthropist said. </li><li>"My dance card is full," Paulson initially told Bono.</li><li>However, after more coaxing he agreed to become the executive chairman of TPG Rise Climate.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>U2 frontman Bono helped recruit former Treasury Secretary Hank Paulson to run an investment fund focused on combating <keyword id="6361617" type="UNKNOWN" weightage="60" keywordseo="climate-change">climate change</keyword>, <a href="https://www.nytimes.com/2021/01/06/business/dealbook/hank-paulson-climate-fund.html">The New York Times reported on Wednesday</a>.Paulson, who has been running a nonprofit and working on environmental programs for the past 12 years, fielded a call from the rock star last fall, the newspaper said.Bono, who played a part in setting up TPG's Rise impact-investing funds, told Paulson that the investment group wanted to start a climate-change fund with the financier in charge.Read more: <a href="https://www.businessinsider.com/investing-advice-wisdom-success-tips-terry-smith-fund-warren-buffett-2020-12" target="_blank" rel="noopener noreferrer">Investing legend Terry Smith's $30 billion equity fund returned 449% to investors over a decade - Here's his 4-part strategy for success and 10 pieces of investing wisdom to take into 2021</a>"I thought he'd be amazing," Bono told The Times. "My work on global poverty and then the AIDS fight taught me that we don't just need the usual suspects, we need some 'unusual suspects,' if you like, and some unexpected partnerships in the conversation as well."Paulson, who led the Treasury between 2006 and 2009 and bailed out the banks during the <keyword id="6371665" type="UNKNOWN" weightage="60" keywordseo="financial-crisis">financial crisis</keyword> after a <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-hank-paulson-financial-crisis-stimulus-saved-us-economy-2020-10-1029667870">late-night call from Warren Buffett</a>, didn't immediately accept the invitation. "My dance card is full," he replied in Bono's telling."I wasn't looking to do this," Paulson told The Times. "At this stage in my career, I'm not looking to do a startup. I'm in a hurry to make a difference."Read more: <a href="https://www.businessinsider.com/investing-advice-democratic-sweep-georgia-runoff-election-expert-portfolio-tips-2021-1" target="_blank" rel="noopener noreferrer">Wall Street experts are calling Georgia's runoff results 'the first surprise of 2021.' Here's how 4 of them recommend positioning your portfolio for what could happen next.</a>However, the former Goldman Sachs banker warmed to the idea after multiple calls and meetings with TPG co-chief executive Jon Winkelried, a friend and ex-colleague. He was also swayed by the success of TPG's other impact funds and the firm's recognition of the immense scale of the climate challenge, he told The Times.Paulson will serve as the executive chairman of TPG Rise Climate. He intends to make climate bets that match the returns of other types of investments, he told the newspaper. "The market will not scale for concessionary or subsidized returns," he said.

Rock star Bono helped recruit ex-Treasury Secretary Hank Paulson to run a new climate fund

<keyword id="194006" type="General" weightage="20" keywordseo="tata-technologies" source="Orion">Tata Technologies</keyword>, which provides engineering and product development digital services, has said its initial public offering (<keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>) will open for public <keyword id="72984" type="General" weightage="20" keywordseo="subscription" source="Orion">subscription</keyword> on November 22. The company, a unit of Tata Motors, filed the RHP (<keyword id="223035" type="General" weightage="20" keywordseo="red-herring" source="Orion">red herring</keyword> prospectus) on November 13, 2023 with the Registrar of Companies, Maharashtra, Tata Motors said in a regulatory filing on Monday. The IPO would comprise up to 60,850,278 shares for cash entailing 15 per cent of paid-up equity share capital of Tata Technologies, it added. As part of the process, Tata Motors will offload 11.4 per cent stake, <keyword id="34499" type="General" weightage="20" keywordseo="private-equity" source="Orion">private equity</keyword> firm Alpha TC Holdings will sell a 2.4 per cent stake, and Tata Capital Growth Fund I will do away with 1.2 per cent of shareholding. The IPO will open for public subscription on November 22 and close on November 24, 2023, Tata Motors said. Last month, Tata Motors had stated that it has inked a pact to sell a 9.9 per cent stake in Tata Technologies to TPG Rise Climate for Rs 1,613.7 crore. Shares of Tata Motors ended almost flat at Rs 653.10 apiece on the BSE on Monday.

Tata Technologies IPO to open for subscription on Nov 22

<ul><li><keyword id="45224" type="General" weightage="80" keywordseo="mahindra" source="Orion">Mahindra</keyword> &amp; Mahindra’s electric vehicle business is still in its nascent stages, but investors have valued it on par with <keyword id="42747" type="General" weightage="100" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>’ EV biz.</li><li>While pure numbers may not be enough to justify the steep valuation of <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword> EV biz, investors might be looking at the company’s future prospects.</li><li>While Tata Motors has sold nearly 100x more electric cars than Mahindra in the last year, two financial metrics are bogging it down.</li><li>We try to decode why investors are giving M&amp;M and Tata Motors’ EV businesses the same value, despite the massive differences.</li></ul>Mahindra &amp; Mahindra has raised fresh funds from British International Investment (BII), valuing its <keyword id="5713739" type="General" weightage="20" keywordseo="ev-business" source="Orion">EV business</keyword> at ₹70,000 crore or $9 billion — almost on par with Tata Motors’ EV business. Tata Motors’ EV business was valued at $9.1 billion after it raised $1 billion from TPG Rise Climate in October last year. The M&amp;M deal comes as a surprise to sector watchers – mostly because of an absolute data mismatch. Tata Motors has been beating M&amp;M in space – literally 100 to one. According to the latest FADA report, in FY22, M&amp;M sold a total of 156 electric cars in the passenger vehicles segment. On the other hand, Tata Motors, which has two models in the market, sold nearly 15,200 electric cars —that’s 100 times more than what M&amp;M sold. <cmsannotation type="cmsannotation" annotationid="The electric rickshaw" comment="subhead" text="The electric rickshaw">The electric rickshaw</cmsannotation> M&amp;M’s EV business however is not just about cars. It also has a few electric three-wheelers in its portfolio, at price points which are several times lower than electric cars. This is why analysts are bullish on its EV business, and label it as a ‘proactive’ auto company, in spite of a single electric car in its portfolio – the eVerito. This car is mostly used as a cab. “M&amp;M is also proactive on the electrification front and already has an electric 3W and e-rickshaw as well as PV (e-Verito) running on Indian roads. With a pipeline of interesting launches in the electric PV as well as LCV front, the company is steadily transforming amid change in technology landscape in the auto space,” stated a report by ICICI Direct. It sold a little over 8,000 electric three-wheelers in FY22, according to FADA – also this too is comfortably lower than Tata Motors’ EV sales. Coupled with Mahindra’s strong brand recall in rural areas thanks to its tractor business, this sets the company up very well as far as electric 3Ws are concerned – a segment where Tata Motors registers a blank. <div type="image" title="M&amp;amp;M Tata Motors EV sales FY22." msid="92742847" hostid="261" caption="&amp;lt;p&amp;gt;M&amp;amp;amp;M and Tata Motors EV sales in FY22&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="The EV roadmap" comment="subhead" text="The EV roadmap">The EV roadmap</cmsannotation> The key to understanding the future of Mahindra’s auto business is identifying its product roadmap. M&amp;M’s executive director Rajesh Jejurikar said the company’s SUV lineup will be 20-30% electric by 2027. Eight new electric vehicles are to be launched by 2027. Of these, four will be brand new cars and four will be ‘conversions’ of existing petrol and diesel cars. IDBI Capital too has impressed with M&amp;M’s three new ‘blockbuster’ launches – the new Thar, XUV 700 and Scorpio-N – stating that it has made a comeback. The brokerage also says that the company is ‘unlocking value’ of its EV business — and is no longer just a tractor company. <div type="Article" hostid="261" msid="90775731" title="Electric two-wheeler sales surge over 5 times – Hero Electric, Okinawa corner half the market, Ather’s market share declines" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Money’s gonna attract more money" comment="subhead" text="Money’s gonna attract more money">Money’s gonna attract more money</cmsannotation> BII’s Nick O’Donohoe has another angle to valuation. In the press release, he said that this investment will “attract additional sources of private capital” into Mahindra Electric. While he did not go into further details, he said that this venture is “exciting”. Green funds, and their large appetites, could also be one of the reasons behind the large investment into M&amp;M. “Climate change is one of the biggest challenges of our time. The investment into Mahindra’s EV business is in line with our decarbonization strategy and focus of supporting sustainable business models that create new jobs, particularly for women,” said Samir Abhyankar, managing director of BII. He also underlined that this is aimed at attracting other “like-minded investors in the future”. <cmsannotation type="cmsannotation" annotationid="Lock, stock and debt" comment="subhead" text="Lock, stock and debt">Lock, stock and debt</cmsannotation> There are other advantages that M&amp;M has over Tata Motors that makes it an attractive investment. The former has much less debt. Its overall debt is ₹75,000 crore – that’s half of what’s on Tata Motors’ books. M&amp;M is also a profitable company, while Tata Motors has reported losses in four out of the last five years, at over ₹64,000 crore. Moreover, the former’s stock has been outperforming the index too. Since the beginning of 2022, it has outperformed the Nifty Auto index by four times, surging over 38% while the index gained less than 9%. “Within OEMs, M&amp;M remains our top pick as it relatively outperformed within the auto OEM space after a multiyear breakout that spells structural turnaround,” a report by ICICI Direct stated. <div type="image" title="M&amp;amp;M 01_01_22 to 08_07_22." msid="92742889" hostid="261" caption="&amp;lt;p&amp;gt;M&amp;amp;amp;M share price in 2022&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/cooling-crude-oil-prices-companies-in-these-sectors-could-benefit-the-most/articleshow/92738107.cms">Cooling crude oil prices – companies in these sectors could benefit the most</a> <a href="https://www.businessinsider.in/stock-market/news/gone-with-the-windfall-tax-ongc-loses-a-fifth-of-its-market-value/articleshow/92721451.cms">Gone with the windfall tax: ONGC loses a fifth of its market value</a> <a href="https://www.businessinsider.in/investment/news/infy-lic-reliance-and-6-more-stocks-that-mutual-funds-are-going-long-on/articleshow/92693363.cms">Infosys is the most favourite mutual fund stock – find out the eight others</a>

Tata Motors sells 100x more EVs than M&M – but both are valued at around $9 billion

<ul><li><keyword id="46156" type="General" weightage="20" keywordseo="tvs-motor" source="Orion">TVS Motor</keyword> is reportedly in talks with a clutch of global private equity investors to raise $300-500 million for its electric vehicle subsidiary.</li><li>The two-wheeler automaker had recently announced its plans to create a wholly owned subsidiary for electric mobility business.</li><li>Shares of TVS Motor have surged 40% in the last one month as investors are excited about the company’s growth plans in the EV space.</li></ul>At present, Indian investors are very much excited about the emerging electric vehicle (EV) industry since one of the largest automakers <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> expanded its EV business with a $1 billion investment from a US-based private equity firm. Now another automaker <a href="https://economictimes.indiatimes.com/industry/renewables/tvs-in-talks-to-raise-up-to-500-million-for-ev-subsidiary/articleshow/87595707.cms">reportedly </a>in line to raise funds from global private equity investors for the EV business is south India-based two-wheeler maker TVS Motor. The company has garnered quite a lot of investors attention since it announced its plans to enter into the electric vehicle space. On October 21, the two-wheeler automaker had announced the incorporation of a wholly owned subsidiary for electric mobility business. The Economic Times report said that TVS Motor, India's third largest two-wheeler maker, is in talks with a clutch of global private equity investors to raise $300-500 million (₹2,220-3,700 crore) for its electric vehicle subsidiary at a valuation of $3.5-4 billion. This report triggered the stock for good as it surged 9% in a single day on November 9. In the last one month, shares of TVS Motor have surged 40%. <div type="image" title="TVS motor" height="900" width="1200" msid="87603542" hostid="261"></div> <a href="https://www.cnbctv18.com/market/stocks/tvs-motor-up-11-on-reports-of-company-exploring-investment-for-ev-arm-11390992.htm">Reportedly</a>, TVS Motor currently sells around 500 EV units a month (5-month average) and has about 4% market share in EVs. On October 13, private equity firm TPG’s Rise Climate Fund along with Abu Dhabi Development Holding announced an investment worth ₹7500 crore (around $1 billion at current prices) in Tata Motors’ electric vehicles (EV) segment. Tata Motors’ stock has been on a rising spree in the last couple of months on its strong hold in the EV industry. <div type="image" title="tata motors ch" height="900" width="1200" msid="87603626" hostid="261"></div> Companies involved into manufacturing of EV are flavour of the season Currently, investors are rewarding companies involved in manufacturing EV business as the demand for electric vehicles is booming with the government’s efforts to focus on alternatives to fuel based vehicles. On November 9, TVS Motor’s stock was the top gainer in the Nifty Auto index along with several auto component makers, whose stocks <a href="https://www.businessinsider.in/stock-market/news/tata-power-minda-corporation-bharat-forge-are-good-stocks-if-you-are-looking-to-invest-in-electric-vehicle-industry/slidelist/86059175.cms">have also been rallying </a>on involvement in the manufacturing of certain components for electric vehicles. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Auto companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Olectra Greentech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">395% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">215% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">175% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minda Corporation </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">92% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precisions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">90% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TVS Motor </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/profit-margin-of-britannia-declines-in-q2-of-fy-2022/articleshow/87600806.cms">Britannia is unable to improve its profit despite a price increase — what’s next</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sapphire-foods-will-capture-the-wave-of-change-in-eating-habits-say-analysts/articleshow/87598674.cms">Sapphire Foods will capture the wave of change in eating habits, say analysts</a>

After Tata Motors, TVS Motor may raise money to run EV business

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5cc3635816c65a7add6e2b65-2105/c36u6586-edit-3-cropped.jpg" border="0" alt="Megan Schleck, COIN CEO" data-mce-source="COIN" data-mce-caption="Megan Schleck, chief executive officer of John Hancock-backed COIN." />COINMegan Schleck, chief executive officer of John Hancock-backed COIN.</div></div></div><ul class="summary-list"><li>COIN, a new fintech launched by John Hancock, wants to help first-time investors get started by using their money to do good.</li><li>The platform, which is nearly identical to a fintech started two years ago by another insurer, asks investors what causes matter most to them, such as gender equality and clean water, and invests directly in companies that match those preferences.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>A new fintech platform wants to help first-time investors get comfortable with stock markets by putting their money behind companies with themes they believe in, like clean water and gender diversity.Do-good investing, which includes investing with an eye toward environmental, social, and governance factors, has become more standard for institutional investors, such as pension funds, and even for the ultra-wealthy. It's just starting to take off among individual investors, who haven't had as many options as bigger investors. But just how much of a difference they can make, and if their dollars will start moving toward new ESG products, is still up for debate.COIN, backed by John Hancock, is the latest fintech platform to tap into the individual investor market. Launched last month, it mirrors <a href="https://www.businessinsider.com/swell-impact-investing-socially-responsible">Swell, a fintech from Pacific Life Insurance</a> started two years ago. Both platforms ask users to pick the causes most important to them, based on a set of development goals outlined by the UN. After that, they funnel investors' money to fractional ownership of specific stocks, with advisors who ensure portfolios aren't too tilted to certain areas. See more: <a href="https://www.businessinsider.com/ix-raises-15-million-for-a-705-million-valuation-2019-3">A do-good investing firm founded by Warren Buffett's grandson and a former Gates Foundation exec just raised its first funding round from the world's richest families</a>"These products are 100% focused on a younger demographic, a demographic that probably doesn't have a lot of money to invest, but ensuring they're socially responsible is something they're very interested in," said Jen Butler, a senior analyst who leads research firm Corporate Insights' digital advice team. Swell and COIN charge a 0.75% annual fee, less than the typical 1-2% fee charged by financial advisors, who often only work with wealthy clients. And both require only $50 to start investing. "If you don't have access to an financial advisor to help you make those choices, the issue has been that the one-on-one financial advice is reserved for people with $1 million-plus in assets," Megan Schleck, the CEO of COIN, told Business Insider in a recent interview. COIN is not for every first-time investor. Users need to have at least savings and retirement accounts elsewhere to get started, Schleck said. Swell already offers retirement options, which Schleck said could be "a natural next step" for COIN, along with new thematic investment causes, like animal rights. One critique of the burgeoning ESG movement is that investors can't solve climate change or fix gender imbalances with $50, or even $50,000. "It's fractional investing, so how much impact that has, I'm not entirely sure," Butler said. "If you invest $50, it's not enough to buy <a href="https://markets.businessinsider.com/stocks/aapl-stock">one share of Apple</a>."Fran Seegull, the head of the US Impact Investing Alliance, said individual investors have more power than they think because of the trillions they control. If individuals embrace do-good investing, whether through fintechs like COIN or through the proliferation of mutual funds and exchange-traded-funds available via traditional managers and robo-advisors, the market could change drastically. "When you look at the rise of 401(k)s and the outsourcing of retirement plans, we think the retail investor is absolutely key to this movement," she said. "We talk so much about high net worth investors, foundations, etc., but we believe this market will get to scale with those constituencies and with bottom-up demand from the retail investor ... We see there's a sea change coming in terms of demand for impact investing products." <h3>'The break in the link'</h3>As more individuals start investing even small amounts, there's one group holding back the development of the do-good investing market for the masses. Financial advisors, who collectively oversaw $82.5 trillion in assets last year, according to an <a href="https://www.investmentadviser.org/publications/evolution-revolution">annual study </a>by two industry groups, aren't yet generally on board with the strategy. Schleck said it's too early to tell if COIN users are investing under financial advisors' guidance; if they're also using other tools, such as robo-advisors, in conjunction with the platform; or even what the first wave of investors looks like. An April <a href="https://adviserinfo.sec.gov/IAPD/content/ViewForm/crd_iapd_stream_pdf.aspx?ORG_PK=285058">regulatory filing</a> for Swell offers some clues for the fintechs' user base: after two years, the platform manages a total of $33 million across 14,000 accounts, with more than 600 of those clients fitting the high net worth category, though it's unclear if the wealthy investors came in through a financial adviser. Swell could not be reached for comment. <a href="http://newsletter.businessinsider.com/join/4np/wall-st-insider&amp;hash=f4e91136c13f3c40c496d77bc7347502">Sign up here</a> for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals.Asset managers have started offering more ESG-themed products, and surveys generally indicate that investors, particularly women and millennials, want those options, said Brendan Powers, an associate director in Cerulli Associates' product development practice. He said there's "a ton of buzz" around ESG products, but "actual investment hasn't necessarily followed." "It seems the break in the link is with advisers right now," Powers said. "They haven't necessarily taken all those resources available to them and connected them with perceived client demand ... Part of the reason they're not embracing this is demographics - they're older and close to retirement. It's hard to get people to change what they've been doing for so many years."<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/ethic-raises-68-million-in-funding-2018-10">A Rockefeller investor and ex-BlackRock vice chair are funding a fintech startup to tap into a $23 trillion market in the hottest area of investing</a></li><li><section data-track-content="" data-post-type="post"><div><div data-piano-inline-content-wrapper=""><ul class="read-more-links"><li><a href="https://www.businessinsider.com/marie-chandoha-explains-why-charles-schwab-investment-management-doesnt-have-an-esg-etf-2019-2" data-read-more-link="" data-e2e-name="read-more-link">The CEO of Charles Schwab Investment Management says there's a major challenge facing ETFs for buzzy do-good funds, and it's why the firm hasn't entered the market</a></li><li><a href="https://www.businessinsider.com/esg-investors-using-advanced-data-techniques-2019-1" data-read-more-link="" data-e2e-name="read-more-link">Artificial intelligence is transforming a $22.9 trillion investing strategy - but the cutting-edge technology comes with a new set of problems</a></li><li><a href="https://www.businessinsider.com/tpg-and-bono-launch-y-analytics-for-impact-investing-2019-1" data-read-more-link="" data-e2e-name="read-more-link">Private equity giant TPG is launching a new company that measures the social impact of a $228 billion investing market</a></li><li><a href="https://www.businessinsider.com/skybridge-launches-fund-to-invest-low-income-neighborhoods-2018-11" data-read-more-link="" data-e2e-name="read-more-link">Anthony Scaramucci is looking to raise as much as $3 billion for a new fund that invests in low-income neighborhoods</a></li></ul></div></div></section></li></ul><a href="https://www.businessinsider.com/intelligence/future-of-payments?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr&amp;itm_term=ctgr_leadgen&amp;itm_content=payments_ctgr_leadgen&amp;itm_campaign=payments_ctgr_leadgen_future_of_payments"><img src="https://media-bii.businessinsider.com/images/5bd07867d2e6484f64127b09-960-192.png" alt="Exclusive FREE Report: The Future of Payments by Business Insider Intelligence" border="0" style="width: 100% !important" /></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/karlmann-king-worlds-most-expensive-suv-2019-4">The Karlmann King is a $2 million enormous ultra-luxury SUV built upon a Ford F-550</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/7cg1Wwca-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

A new John Hancock-backed wealth management platform wants to stand out in an increasingly crowded fintech field by helping millennials to invest with a conscience

Dear Readers,We sent a team of six editors to brave negative temperatures and <a href="https://www.businessinsider.com/category/davos-2019">cover this year's World Economic Forum in Davos.</a> They spent the week <a href="https://www.cnbc.com/video/2015/01/23/davos-home-of-the-43-hot-dog.html">eating $43 hot dogs</a> and chatting with more than 40 CEOs, business leaders and billionaires at the Swiss ski resort to get their take on the state of global affairs. Here are some<a href="https://www.businessinsider.com/davos-highlights-heres-what-top-executives-were-quietly-saying-at-davos-2019-1"> nuggets from our editor-in-chief Nich Carlson</a>, executive editor Matt Turner and editor-ar-large Sara Silverstein, who<a href="https://www.businessinsider.com/davos-highlights-heres-what-ceos-are-talking-about-2019-1"> shared a few of their biggest takeaways from the event:</a>The economy is better than headlines suggest The mood was generally pessimistic around the global economy, with a trade-war, a slowdown in China, and the notable absence of several world leaders (Trump, May, Macron) due to domestic policy challenges.But few people said they expected there to be a <a href="https://www.businessinsider.com/ray-dalio-davos-2019-bridgewater-associates-next-recession-commentary-explanation-fears-2019-1" target="_blank" rel="noopener">recession</a> in the next 12 months, and several globally renowned investors told Business Insider they thought the US economy in particular is in much better shape than the mood would suggest.That being said...buckle up for a wild year in the marketsA hedge fund manager says: Expect more volatility.<a href="https://www.businessinsider.com/market-volatility-impact-on-blackrock-ishares-etf-4q-2019-1"> 30% of the market is ETFs </a>and mutual funds. They have to buy when they get inflows and have to sell on downward turns, and there are no market-makers in the middle anymore. So 2019 will have lots of sawtooth ups and downs.Everyone's preparing for robots Regardless of whether you think AI is <a href="https://www.weforum.org/agenda/2018/09/ai-and-robots-could-create-as-many-jobs-as-they-displace/">going to create jobs or displace them</a>, it seems fairly clear the skills required to succeed over the next 20 years are going to be different to the skills required in the last 20 years.Ellyn Shook, Accenture's chief leadership &amp; Human Resources officer, said the firm had created a Job Buddy for staff, making them aware of how much of their current role was at risk of automation, and which skills they should pick up given their current strengths.And Credit Suisse's tech head told Business Insider that <a href="https://www.businessinsider.com/credit-suisse-tech-head-on-automation-2019-1">the bank runs educational programs to retrain employees </a>whose jobs have been displaced by automation so they can use their skills in other businesses. Super-rich say super-rich tax say is wildly misunderstoodOne of the hottest topics at Davos was representative Alexandria Ocasio-Cortez's proposed 70% marginal tax rate on all income above $10 million. <a href="https://www.businessinsider.com/wall-street-ken-moelis-scott-minerd-bob-prince-weigh-in-on-proposed-70-marginal-tax-hike-2019-1">We talked to Wall Street heavyweight Ken Moelis, Guggenheim Partners global CIO Scott Minerd and Bob Prince, the co-CIO of Bridgewater about the proposal</a> and the general consensus was that such a hefty tax might hurt the economy by decreasing productivity (as former Fed chairman Alan Greenspan has said) and may not truly solve any problems. Thanks again for reading and please reach out to me at ooran@businessinsider.com with any comments or feedback on this newsletter or stories we should be pursuing. And if you got this newsletter forwarded onto you, <a href="http://newsletter.businessinsider.com/join/4np/wall-st-insider&amp;hash=f4e91136c13f3c40c496d77bc7347502">you can subscribe here.</a>Stay warm! - Olivia<hr /><div class="KonaFilter image-container display-table center"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5c057c13e1f88b528e432af2-2000/2017-01-18t120000z1124840832lr1ed1i0p481rrtrmadp3davos-meeting.jpg" border="0" alt="ray dalio" data-mce-source="Reuters / Ruben Sprich" />Reuters / Ruben Sprich</div></div></div>Legendary billionaire Ray Dalio told a crowd at Davos that the next economic meltdown scared him more than anything Ray Dalio, founder and cochief investment officer of Bridgewater Associates - the world's largest hedge fund - revealed to a crowd at Davos this past week what keeps him up at night: it's that the next economic downturn will look wildly different than what we've seen in the past. It's well-traveled territory for any follower of Dalio's punditry over the past several months. He thinks we're in the <a href="https://www.businessinsider.com/ray-dalio-bridgewater-associates-next-recession-scenario-great-depression-parallels-2018-9" target="_blank" rel="noopener">seventh or eighth inning of a short-term debt cycle</a>, which will need to be unwound in painful fashion.Dalio is worried by external forces, the drivers that exist beyond what we'd normally associate with a recession. He's specifically referring to <a href="https://www.businessinsider.com/ray-dalio-bridgewater-associates-next-recession-scenario-great-depression-parallels-2018-9" target="_blank" rel="noopener">political and social issues</a> complicating matters in the US and abroad.Dalio argues that when it comes time for the <a href="https://www.businessinsider.com/category/federal-reserve" target="_blank" rel="noopener">Federal Reserve</a> to step in and ease conditions once again - something it's repeatedly done over time to stimulate postcrisis growth - all bets will be off."In the US, there will be a significant slowing in that particular period," Dalio said Tuesday during a panel discussion hosted by Maria Bartiromo of Fox Business. "The bigger issues really are connected to politics and the economic policies associated with that.<a href="https://www.businessinsider.com/ray-dalio-davos-2019-bridgewater-associates-next-recession-commentary-explanation-fears-2019-1">READ FULL STORY&gt;&gt;</a>Americans stopped buying homes in 2018, mortgage lenders are getting crushed, and an economic storm could be brewingAs 2018 headed toward its close, Americans' appetite for buying homes fell off a cliff. In December, <a href="https://www.nar.realtor/newsroom/existing-home-sales-see-64-percent-drop-in-december">US existing-home sales cratered to 4.99 million</a>, 10.3% below the mark from the year-ago period, according to data released earlier this week by the National Association of Realtors.That's the steepest decline in more than seven years, and it's impacting. banks' mortgage businesses too. These ugly housing numbers <a href="https://markets.businessinsider.com/news/stocks/hamptons-homes-are-flooding-the-market-2019-1-1027891685">(including in the posh Hamptons where inventories swelled to their highest level in more than a decade)</a> have raised red flags for Wall Street investors and analysts. UBS economists said in a note this week that "the deterioration in housing and its intensification since midyear raise the possibility of underlying weakness in the household sector."It's too soon to head to the panic room, as this trend could prove a small bump that smooths over in 2019 - but a deeper drought in housing is dark news for just about everybody, not just the banks.Significant housing declines have foreshadowed nine of the 11 post-World War II recessions in the US, economists say.<a href="https://www.businessinsider.com/falling-home-sales-could-signal-us-recession-2019-1">BI's Alex Morrell takes a look at what's to blame.</a>$1.2 trillion brokerage giant TD Ameritrade is considering teaming up with carmakers and it signals a new trend in how Main Street trades stocksYou're at a standstill on Los Angeles' notorious Interstate 405 during your morning commute when you decide to check on your investments. And with a simple voice command, you can can see that shares of Apple are up.That's the vision Vijay Sankaran, TD Ameritrade's chief information officer, has for how Main Street investors might interact with their brokerage accounts. <a href="https://www.businessinsider.com/td-ameritrade-launching-virtual-assistant-in-cars-2019-1">The head of tech at the $1.2 trillion online broker told BI's Dan DeFrancescso in an interview</a> that the firm is looking at partnering with major automakers in the same way <a href="https://www.businessinsider.com/google-putting-assistant-inside-cars-2016-10">Google and Amazon are embedding their virtual assistants in cars.</a>The ultimate goal could be to allow customers not just to check their portfolios, but eventually to trade.<a href="https://www.businessinsider.com/td-ameritrade-launching-virtual-assistant-in-cars-2019-1">READ MORE HERE&gt;&gt;</a>One of Steve Cohen's top quant portfolio managers is starting his own hedge fund Michael Graves, who was a portfolio manger at Point72 Asset Management's Cubist unit for nearly a decade, <a href="https://www.businessinsider.com/portfolio-manager-michael-graves-resigns-from-hedge-fund-unit-cubist-2018-12">resigned from the firm in 2018.</a> Now, <a href="https://www.businessinsider.com/point-72s-michael-graves-starting-own-hedge-fund-2019-1">he's starting his own quant-focused hedge fund and asset management firm and is looking to raise as much as $750 million, a source familiar with the new venture told Business Insider.</a> At least four analysts and developers from Graves' team will join him, a source said.<a href="https://www.businessinsider.com/surge-shutdown-bad-performance-slashed-fees-2018-brutal-hedge-fund-2018-12">The potential launch comes at a rough time for hedge funds.</a> The average fund lost more than 4% in 2018. Quant funds performed even worse, declining more than 5% for the year, according to data from Hedge Fund Research.The number of hedge fund launches also slowed in 2018, <a href="https://www.businessinsider.com/millenniums-ex-bond-chief-michael-gelband-registers-exoduspoint-2017-6">though big names like former Millennium star trader Michael Gelband</a> were still able to raise money. According to Hedge Fund Research, last year ended with four fewer hedge funds that it began with in January, falling from 8,335 to 8,331.More hedge fund news:<a href="https://www.businessinsider.com/billionaire-hedge-fund-manager-john-paulson-family-office-transition-2019-1" data-analytics-position="1">Billionaire John Paulson becomes the latest hedge funder to consider turning into a family office</a><a href="https://www.businessinsider.com/galaxy-digital-is-raising-a-credit-fund-for-crypto-companies-2019-1">Galaxy Digital, the firm founded by bitcoin king Michael Novogratz, is raising a $250 million fund for crypto firms in need of cash</a><a href="https://www.businessinsider.com/new-hedge-fund-launches-slowed-2019-2019-1">It's not enough to be 2 guys from Goldman Sachs in a room with $5 million - the bar for launching a hedge fund is rising in 2019</a>Quote of the week: "It's a monolithic approach that may have worked well for us 10 years ago, but today it feels like standing on top of a mountain and shouting into a megaphone." -GoDaddy chief brand officer Cameron Scott on <a href="https://www.businessinsider.com/godaddy-is-sitting-out-the-super-bowl-this-year-2019-1">why the company, known for its racy TV spots, is no longer advertising at the Super Bowl. </a>Chart of the week: <div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5c4b76a12bdd7f11765c3f74-2400/hedge fund liquidations and launches.png" border="0" alt="hedge fund 2018 liquidations and launches" data-mce-source="Shayanne Gal/Business Insider" data-mce-caption="More funds were liquidated in 2018 than were launched" />Shayanne Gal/Business InsiderMore funds were liquidated in 2018 than were launched</div></div></div>In tech news:<ul><li><a href="https://www.businessinsider.com/walmartcom-more-like-amazon-with-deliverr-2019-1">This company is helping to make shopping on Walmart.com more like Amazon</a></li><li><a href="https://www.businessinsider.com/new-google-cloud-ceo-thomas-kurian-acquisitions-2019-1" data-analytics-position="3">Insiders say Google's new cloud boss is likely to make some very large acquisitions</a></li><li><a href="https://www.businessinsider.com/intermountain-ceo-marc-harrison-on-using-data-to-track-patients-2019-1">Why the CEO of a $7 billion health system wants tech giants like Microsoft to use 'non-creepy' data to help track patients</a></li><li><a href="https://www.businessinsider.com/td-ameritrade-launch-system-to-track-customer-requests-2019-1">$1.2 trillion brokerage giant TD Ameritrade is working on a new technology similar to Domino's pizza tracker, and it could save them millions</a></li></ul><div data-sticky="subnav" data-ad-subnav=""><div data-bi-ad="" id="gpt-post-science-subnav-5c3e8bb3471e72.28787359" data-force="" data-type="ad" data-adunit="business-insider/desktop/tech/science/post" data-pagetype="post" data-tag="health,comcast,comcast-ventures,venture-capital,omers,omers-ventures,pension,pension-funds,canada,bi-prime" data-pos="atf" data-authors="zachary-tracer" data-views="4041" data-region="Subnav" data-responsive="[{" browserLimit:00slotSize:300250browserLimit:7280slotSize:72890browserLimit:9700slotSize:9702509709072890location:window="" data-url="omers-ventures-hires-michael-yang-comcast-ventures-silicon-valley-2019-1" data-amazontamsizes="[[300,250],[728,90],[970,250],[970,90]]" data-google-query-id="CJWNsfyV8d8CFZbQmgodtgIBQg"><div></div><div id="google_ads_iframe_/4442842/business-insider/desktop/tech/science/post_0__container__">In markets: </div></div></div><ul><li><a href="https://www.businessinsider.com/baillie-gifford-on-problems-in-asset-management-2019-1">A partner at a $221 billion firm outlines how asset managers are sabotaging themselves and their clients - and unveils his plan to fix the</a><a href="https://www.businessinsider.com/baillie-gifford-on-problems-in-asset-management-2019-1"> industry</a></li><li><a href="https://www.businessinsider.com/seth-klarman-2018-annual-letter-2019-1">We got a copy of billionaire hedge fund manager Seth Klarman's letter to investors - here are his 5 biggest warnings about the economy</a></li><li><a href="https://www.businessinsider.com/tpg-and-bono-launch-y-analytics-for-impact-investing-2019-1">Private equity giant TPG is launching a new company that measures the social impact of a $228 billion investing mark</a>et <a href="https://www.businessinsider.com/bitcoin-price-above-50000-hedge-fund-bet-time-running-out-2018-12"></a></li></ul>Other good stories from around the newsroom:<ul><li><a href="https://www.businessinsider.com/davos-top-psychedelic-scientist-mdma-magic-mushrooms-medicine-2019-1">A top psychedelic scientist says 'the climate's looking good' for magic mushrooms and MDMA to turn into medicines at a gathering of the world's billionaires</a></li><li><a href="https://www.businessinsider.com/gender-bias-women-ceos-dismissal-study-2019-1">Women CEOs are more likely to be dismissed, even when the company is doing well</a></li><li><a href="https://www.businessinsider.com/davos-top-psychedelic-scientist-mdma-magic-mushrooms-medicine-2019-1"></a><a href="https://www.businessinsider.com/insulin-price-fluctuation-conundrum-type1-diabetes-2019-1">No one could explain why this college student saw the price of his life-saving diabetes medication more than double, and it reveals a disturbing problem with the US healthcare system</a></li></ul>

You Searched For "TPG Rise climate" and got 9 results

TPG makes a billion dollar bet on Tata Motors’ EV dreams

Bhakti Makwana

Tata Motors rallies 15% as TPG’s billion dollars spark a series of upgrades for the stock

Bhakti Makwana

I'm a former Citi executive. The bank failed to react to the warning signs before the 2008 financial crisis, and its record on climate change shows it's making the same mistake again.

Tim Buckley

Rock star Bono helped recruit ex-Treasury Secretary Hank Paulson to run a new climate fund

Theron Mohamed

Tata Technologies IPO to open for subscription on Nov 22

PTI

Tata Motors sells 100x more EVs than M&M – but both are valued at around $9 billion

Rounak Jain

After Tata Motors, TVS Motor may raise money to run EV business

Bhakti Makwana

A new John Hancock-backed wealth management platform wants to stand out in an increasingly crowded fintech field by helping millennials to invest with a conscience

Meghan Morris

Our Davos diary; Bridgewater's Dalio is scared of the next economic meltdown; Stock-trading on the freeway is the future

Olivia Oran