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Welcome to The Daily Intel, a roundup of exclusive news and analysis from S&P Global Market Intelligence, curated by our journalists.
Editor's Pick
Cobalt miners seeking to expand in Congo face human rights accusations
Mounting demand for cobalt has multinational mining companies restarting and expanding mines in the Democratic Republic of Congo.
Mining giants operating in the region say they have made efforts to ensure their products are free of human rights abuses in the years following a 2016 Amnesty International report on child labor and forced labor within the DRC's cobalt mining sector.
But problems persist beyond the abuses among small-scale cobalt miners identified in 2016, according to a new report published in late 2021 that found Congolese workers at industrial-scale cobalt mines faced "dire conditions" characterized by low pay, long hours, scant health benefits, degrading treatment and discrimination.
Financials
New 'goodwill' accounting method could cause earnings hit for banks
The Financial Accounting Standards Board is considering standards for U.S. banks to treat hundreds of millions of dollars in goodwill created by mergers and acquisitions.
Contrasting outlooks for UBS, Credit Suisse highlighted by share price gulf
The challenge for UBS in 2022 is to maintain its buoyant performance while Swiss peer Credit Suisse seeks to repair investor and market confidence after significant losses in 2021.
Credit & Markets
Retail market: January sales beat expectations as inflation continued to climb
The better-than-expected result followed a slump in December, though U.S. retailers fared worse in the last month of 2021 than initially estimated.
Energy and Utilities
Capital needs spark buying spree for European energy grids
Infrastructure funds and other financial investors continue to buy stakes in Europe's vast web of power and gas networks, cashing in on a shift in the utility space toward more streamlined business models.
New gas permit policy toughens FERC approach to climate, project need
The Federal Energy Regulatory Commission approved revisions to the agency's 1999 natural gas pipeline certificate policy on party lines. The commission planned to revisit changes to the way it will consider the impact of projects on climate change.
Q&A: FCC's Nathan Simington says lines between tech, telcos have blurred
FCC Commissioner Nathan Simington says the lines that used to divide tech companies, communications companies and commerce entities have become blurred, presenting a regulatory challenge for Congress.
Q&A: 'Regulatory ping-pong' on net neutrality slows investment, new FCC commissioner says
Simington reiterated his net neutrality stance, saying that, for practical concerns, it is best for Congress to take up a formal net neutrality law, among other reasons.
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