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Correlate and Carbonsight Partner, Unleashing Data-Driven Decarbonization and Sustainable Energy Solutions

Retrieved on:

Wednesday, February 7, 2024

Partnership, Carbon, Website, Software, OTCQB, Correlation, Renewable energy

BOISE, Idaho, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Correlate Energy Corp. (OTCQB: CIPI) (“Correlate” or the “Company”), a growth-oriented distributed energy company, proudly announces a strategic partnership with Carbonsight (by Autocase), an online decarbonization planning tool for real estate portfolios.

Key Points:

BOISE, Idaho, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Correlate Energy Corp. (OTCQB: CIPI) (“Correlate” or the “Company”), a growth-oriented distributed energy company, proudly announces a strategic partnership with Carbonsight (by Autocase), an online decarbonization planning tool for real estate portfolios.
The collaboration brings together Carbonsight's cutting-edge decarbonization planning software and Correlate's expertise in developing and financing renewable and clean energy projects.
As building owners and operators establish decarbonization strategies with Carbonsight, they can seamlessly quantify costs, savings, and timelines for implementing targeted energy projects.
Additionally, Correlate's commitment to provide optimal financing for renewable and clean energy projects aligns with Carbonsight's mission, providing businesses with financially viable and environmentally sustainable solutions.

The effect of new housing supply in structural models: a forecasting performance evaluation

Retrieved on:

Sunday, February 4, 2024

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Key Points:

Deposit market concentration and monetary transmission: evidence from the euro area

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Sunday, February 4, 2024

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Abstract

Key Points:

Abstract
I study the transmission of monetary policy to deposit rates in the euro area with a
focus on asymmetries and the role of banking sector concentration.
Moreover, the
gap between deposit rates across euro area member states - despite being exposed to the same
key ECB interest rates - has widened.
This begs the question whether deposit rates are more
sluggish in response to both policy rate increases and cuts, and what factors might influence the
transmission of monetary policy to deposit rates.
Whether banks are indeed able to adjust deposit rates asymmetrically to positive and
negative changes in policy rates could thus well depend on how much market power they hold
in the deposit market.
Arguing that market power increases in the degree of market concentration,
I further consider whether more concentrated banking sectors set rates (more) asymmetrically.
The response of deposit rates in banking sectors with an average degree of concentration does
not appear asymmetric.
The degree of market concentration is often pointed at, but recent evidence
for the euro area is scarce.
In this paper, I provide empirical evidence on the asymmetric response of deposit rates to
monetary policy, and relate this to the degree of concentration within a country?s banking sector.
Both papers
provide empirical evidence based on US deposit markets showing that deposit rates respond
more rigidly to upward changes in market rates than downward changes, especially so in more
concentrated markets.
Recent research on euro area deposit markets,
instead, has focused more on the transmission of negative policy rates (see e.g.
Whether banks are able to set deposit rates that materially differ from policy rates is affected
ECB Working Paper Series No 2896

4

by market concentration: market power is assumed to increase in the degree of concentration in
the banking sector.
Concentration thus appears to matter for how quickly ECB monetary policy has
been transmitted to deposit rates across the euro area.
Banks thus have a motive to be
rigid in adjusting deposit rates to a ?positive? monetary policy shock.
While customers are generally (and potentially rationally) inattentive, swift and substantial
nominal deposit rate declines may trigger deposit outflows.
relative deposit rate = deposit rate - short term rate
The inverse of the wedge, the relative deposit rate will allow us to see more clearly how
the deposit rate evolves in comparison to the short-term rate.
This then translates to (more
pronounced) effects on the transmission of policy to the deposit wedge, reinforcing the asymmetry discussed before.
More concentration would mean more rigid deposit rates (and thus an
increase in the deposit wedge) in case of positive surprises, and more flexible deposit rates (and
thus a decrease in the deposit wedge) in case of negative surprises (see also e.g.
I add an identical
altered-linex adjustment cost for deposit rates, to capture the upward rigidity and downward
flexibility of deposit rates as well.
As discussed
previously, the deposit rate is particularly rigid in case of a positive shock, illustrating the dividend smoothing motive and bank market power.
Without the asymmetric adjustment cost,
the response of the deposit rates to positive and negative changes in policy would have been
symmetric.
This appears a reasonable assumption
in general, as market concentration or market shares are slow-moving concepts.
3
Methods and data

I study the dynamic response to an unexpected change in monetary policy on deposit rates
in different countries in the euro area.
deposit rate - short-term rate), which for the sake of
brevity I will refer to as the ?relative deposit rate?.
Positive IRFs for the relative deposit rate imply that
the deposit rate has increased by more than the short-term rate, narrowing the wedge between
the short-term rate and the deposit rate.
0
?2
?2
?4
?6

?4
4

8

12

4

Months

8

12

Months

Figure 9: NFC rate response - linear combination of ?0 and ?1

Relative deposit rate at 1 month

Relative deposit rate at 4 months

0.0

0
?1

p.p.
0
0
?2
?1
?4
4

8

12

4

8

Months

12

Months

Figure 12: NFC rate response - linear combination of ?0 and ?1

Relative deposit rate at 1 month

Relative deposit rate at 4 months
2.0

1.5

p.p.
And, (2) how quickly
households and NFCs learn about changes in monetary policy, via the deposit rate, may vary
across the monetary union.
?0 , ?1 )
Figure A16: NFC overnight deposits, small member states
Relative deposit rate (average)

Relative deposit rate (interaction)

2

10
5

p.p.
?0 , ?1 )
Figure A19: NFC overnight deposits, four lags
Relative deposit rate (average)

Relative deposit rate (interaction)
5

0

p.p.
?0 , ?1 )
Figure A28: NFC overnight deposits, small member states
Relative deposit rate (average)

Relative deposit rate (interaction)

3

5.0

2

2.5

p.p.
?0 , ?1 )
Figure A31: NFC overnight deposits, four lags
Relative deposit rate (average)

Relative deposit rate (interaction)

3
2

p.p.

Sandy Spring Bancorp Reports Fourth Quarter Earnings of $26.1 Million

Retrieved on:

Tuesday, January 23, 2024

Insurance, Probability, ROA, FHLB, Growth, Environment, Website, Sale, GAAP, Acquisition, Movement, Small business, Webcast, Sandy Spring Bank, Federal Reserve Bank, News, Recession, Bank

Net interest income for the fourth quarter of 2023 declined $3.4 million or 4% compared to the previous quarter and $24.9 million or 23% compared to the fourth quarter of 2022.

Key Points:

Net interest income for the fourth quarter of 2023 declined $3.4 million or 4% compared to the previous quarter and $24.9 million or 23% compared to the fourth quarter of 2022.
Non-interest income for the fourth quarter of 2023 decreased by 5% or $0.8 million compared to the linked quarter and grew by 16% or $2.3 million compared to the prior year quarter.
Net interest income for the fourth quarter of 2023 decreased $3.4 million or 4% compared to the previous quarter and $24.9 million or 23% compared to the fourth quarter of 2022.
The total provision for credit losses was a credit of $3.4 million for the fourth quarter of 2023 compared to a charge of $2.4 million for the previous quarter and $10.8 million for the fourth quarter of 2022.

Why Investors and Media are Calling Biotech Showcase™ “The Place to Be to Start the Year”

Retrieved on:

Wednesday, January 24, 2024

Research, Neurology, Health Technology, Biotechnology, Other Health, Health, Pharmaceutical, Other Science, Science, Corporation, GEN, Novo Nordisk, American City Business Journals, Business development, Website, News

Mary Schaheen, President of Prevail Partners, said, “As an active investor in clinical-stage biotech (both public and private companies), this is a must-attend conference.

Key Points:

Mary Schaheen, President of Prevail Partners, said, “As an active investor in clinical-stage biotech (both public and private companies), this is a must-attend conference.
Biotech Showcase™ is true to its name – great companies are highlighted.”
Tina Elder, Global Managing Director, EBD Group US, said, “Biotech Showcase™ has once again shown itself to be the premiere destination for innovators and partners to access a powerful network of industry decision-makers, media and top investors.
Sessions from Biotech Showcase™, including company presentations, audio recordings of all panels and other content, are available for registered attendees on the partneringONE® platform.
For more information, please visit www.biotechshowcase.com or follow us on Twitter @DemyColton and @EBDGroup.

eFormula.com Reveals Exclusive Discount for New Members Starting Today (eFormula by Aidan Booth's Review)

Retrieved on:

Thursday, January 25, 2024

CHICAGO, Jan. 25, 2024 /PRNewswire/ -- eFormula, established by e-commerce expert Aidan Booth, has been recognized as a pivotal program in the digital marketplace. Structured as a comprehensive yet advanced mentorship solution, eFormula's primary objective is to equip individuals with the know-how, skills, and knowledge necessary for success in online retail, with a special focus on Amazon selling. The program boasts an extensive curriculum covering vital topics like market analysis, product sourcing, and sales strategies, which have been instrumental in Generating An Estimated $20 Million In Sales So Far (Read More). Its impact on the e-commerce industry is significant, providing a blend of theoretical knowledge and practical tools that have helped numerous individuals and small businesses thrive in the highly competitive digital marketplace. With the rapid growth of online shopping, eFormula has become more relevant than ever, offering up-to-date strategies and insights essential for staying ahead in today's dynamic e-commerce environment.

Key Points:

CHICAGO, Jan. 25, 2024 /PRNewswire/ -- eFormula, established by e-commerce expert Aidan Booth, has been recognized as a pivotal program in the digital marketplace.
The eFORMULA program, designed by Aidan Booth, offers a strategic pricing model to accommodate diverse financial needs while presenting an enticing secret discount.
This method not only unlocks full access to all the program's resources but also comes with a significant cost advantage.
By selecting this payment route, members effectively receive a secret discount, Realizing A Saving Of $491 To Be Claimed From Here compared to the alternative payment plan.

Washington State Wine Commission Names Colangelo & Partners as PR Agency of Record

Retrieved on:

Wednesday, January 24, 2024

Learning, Research, Trust, Partner, Website, Wine, Marketing, Growth

SEATTLE, Jan. 24, 2024 /PRNewswire-PRWeb/ -- Washington State Wine Commission (WSWC) has announced that Colangelo & Partners, a fine wine, spirits, and food-focused integrated communications agency, will be its PR agency of record. Colangelo & Partners will develop and execute a comprehensive communications strategy targeted to key media, trade and consumer stakeholders.

Key Points:

SEATTLE, Jan. 24, 2024 /PRNewswire-PRWeb/ -- Washington State Wine Commission (WSWC) has announced that Colangelo & Partners , a fine wine, spirits, and food-focused integrated communications agency, will be its PR agency of record.
"We are excited to partner with Colangelo & Partners at this pivotal time for Washington State wineries, growers, and industry partners," says WSWC Executive Director Kristina Kelley.
As an extension of WSWC, Colangelo & Partners will support the commission's mission to grow Washington State wine through marketing, communications, and viticulture and enology research.
Established in 1987, the Washington State Wine Commission is a commodity commission that represents all 1,050 licensed wineries and wine grape growers in the state.

eFormula's Secret Discount Activated Today For New Members (Aidan Booth's eFormula.com Review)

Retrieved on:

Monday, January 22, 2024

CHICAGO, Jan. 22, 2024 /PRNewswire/ -- eFormula, established by e-commerce expert Aidan Booth, has been recognized as a pivotal program in the digital marketplace. Structured as a comprehensive yet advanced mentorship solution, eFormula's primary objective is to equip individuals with the know-how, skills, and knowledge necessary for success in online retail, with a special focus on Amazon selling. The program boasts an extensive curriculum covering vital topics like market analysis, product sourcing, and sales strategies, which have been instrumental in Generating An Estimated $20 Million In Sales So Far (Read More). Its impact on the e-commerce industry is significant, providing a blend of theoretical knowledge and practical tools that have helped numerous individuals and small businesses thrive in the highly competitive digital marketplace. With the rapid growth of online shopping, eFormula has become more relevant than ever, offering up-to-date strategies and insights essential for staying ahead in today's dynamic e-commerce environment.

Key Points:

The eFORMULA program, designed by Aidan Booth, offers a strategic pricing model to accommodate diverse financial needs while presenting an enticing secret discount.
By selecting this payment route, members effectively receive a secret discount, Realizing A Saving Of $491 To Be Claimed From Here compared to the alternative payment plan.
The program's recent announcement of a secret discount for new members underscores its commitment to making e-commerce success accessible to a wider audience.
As we wrap up this review, it's essential to re-emphasize the value of the newly announced secret discount.

ESR Launches Its Brand-New Lineup of Accessories for Samsung Galaxy S24

Retrieved on:

Thursday, January 18, 2024

Collection, Glass, S24, SGS, Samsung, MagSafe, Air National Guard, Certification, System, Dust, Website, ESR, Mobile phone

WILMINGTON, Del., Jan. 18, 2024 /PRNewswire/ -- ESR, a prominent top-selling tech accessories brand on Amazon, today announced its latest collection for the new Samsung Galaxy S24. The lineup features a range of brand-new protective cases that enable MagSafe capabilities, along with screen and lens protectors that are military-grade tested and certified.

Key Points:

Elevate the Galaxy S24 Ultra experience with ESR's new collection of accessories, and unlock the power of MagSafe
WILMINGTON, Del., Jan. 18, 2024 /PRNewswire/ -- ESR , a prominent top-selling tech accessories brand on Amazon , today announced its latest collection for the new Samsung Galaxy S24.
According to Tim Wu, the ESR CEO, "This year's S24 collection takes MagSafe to the Galaxy.
Our lineup of S24 Ultra cases unlocks the full potential of MagSafe, enabling Samsung users to experience the benefits of MagSafe charging, improving video viewing and chatting, and providing phone protection.
Level up your protection with the new lineup of Galaxy S24 Ultra cases that provide top-notch protection for multiple purposes.

The ECB Survey of Professional Forecasters - First quarter of 2024

Retrieved on:

Sunday, January 28, 2024

Probability, European Central Bank, Food, Uncertainty, SPF, Website, HICP, Reproduction, Movement, COVID-19, USD, ISSN, Unemployment, Calendar, Real, GDP, Coronavirus, ECB, PDF, Growth, Pet industry

= Summary =

Key Points:

= Summary =
In the ECB’s Survey of Professional Forecasters (SPF) for the first quarter of 2024, expectations for headline HICP inflation, and those for HICP inflation excluding energy and food (HICPX), were revised down compared to the previous survey (conducted in the fourth quarter of 2023).
Headline inflation was expected to decline from 2.4% in 2024 to 2.0% in both 2025 and 2026.
Longer-term HICP inflation expectations (for 2028) were also revised down, by 0.1 percentage points to 2.0%.
Respondents expected a slight contraction in real GDP in the final quarter of 2023, followed by a slow recovery of economic activity throughout 2024.

Table 1

Results of the SPF in comparison with other expectations and projections
(annual percentage changes, unless otherwise indicated)
Survey horizon
2024
2025
2026
Longer term
HICP inflation
Q1 2024 SPF
2.4
2.0
2.0
2.0
Previous SPF (Q4 2023)
2.7
2.1
-
2.1
Eurosystem staff macroeconomic projections (December 2023)
2.7
2.1
1.9
-
Consensus Economics (January 2024)
2.2
2.0
2.0
2.0
Memo: HICP inflation excluding energy, food, alcohol and tobacco
2.6
2.1
2.0
2.0
2.9
2.2
-
2.0
2.7
2.3
2.1
-
2.5
2.1
-
-
Real GDP growth
Q1 2024 SPF
0.6
1.3
1.4
1.3
Previous SPF (Q4 2023)
0.9
1.5
-
1.3
Eurosystem staff macroeconomic projections (December 2023)
0.8
1.5
1.5
-
Consensus Economics (January 2024)
0.5
1.3
1.5
1.3
Unemployment rate
Q1 2024 SPF
6.7
6.6
6.5
6.5
Previous SPF (Q4 2023)
6.7
6.6
-
6.5
Eurosystem staff macroeconomic projections (December 2023)
6.6
6.5
6.4
-
Consensus Economics (January 2024)
6.8
6.8
-
-
1) Longer-term expectations refer to 2028.
2) As a percentage of the labour force.
= 1 HICP inflation expectations revised down for 2024-25 =
SPF respondents revised down their HICP inflation expectations for 2024 and 2025.
Compared to the previous survey round, inflation expectations for 2024 were revised down by 0.3 percentage points to 2.4% and those for 2025 were revised down by 0.1 percentage points to 2.0% (see Chart 1).
Expectations for 2026 (which were not surveyed in the previous round) stood at 2.0%.
Respondents’ qualitative explanations suggest the downward revisions mainly reflected the impact of lower than previously expected oil prices and data outturns for headline HICP as well as weaker economic activity.
Compared with the December 2023 Eurosystem staff macroeconomic projections, inflation expectations in this SPF round were 0.3 and 0.1 percentage points lower for 2024 and 2025 respectively but 0.1 percentage points higher for 2026 (see Table 1).

Chart 1

HICPX inflation expectations for 2024, 2025 and 2026 stood at 2.6%, 2.1% and 2.0% respectively – representing downward revisions of 0.3 percentage points for 2024 and 0.1 percentage points for 2025.
Respondents indicated that the downward revisions reflected the impact of lower than previously expected data outturns for HICPX inflation as well as weaker economic activity.
Aggregate probability distributions for the calendar years from 2024 to 2026 are presented in Chart 2.
According to the qualitative remarks, the main uncertainties and upside risks relate to geopolitical developments, energy prices and wage outcomes.

Chart 2

This chart shows the average probabilities assigned to different ranges of inflation outcomes in 2024, 2025 and 2026.
= 2 Longer-term inflation expectations revised down to 2.0% =
Longer-term inflation expectations (which relate to 2028) were revised down by 0.1 percentage points to 2.0%.
[3] The median and modal point expectations were unchanged at 2.0% (see Chart 3).
In particular, there was a drop off in respondents reporting longer-term inflation expectations of 2.2% or above and an increase in those reporting 2.0% or 2.1% (see Chart 4).

Chart 3

Longer-term inflation expectations
(annual percentage changes)

Chart 4

This chart shows the spread of point forecast responses.
Uncertainty surrounding longer-term inflation expectations remained at elevated levels, while the balance of risks remained broadly neutral.
The high level of “aggregate uncertainty” (see Chart 5) stemmed from a combination of elevated “disagreement” and heightened “individual uncertainty”.

Chart 5

This chart shows the average probabilities assigned to different ranges of inflation outcomes in the longer term.
The mean longer-term expectation for HICP inflation excluding energy and food (HICPX) was unchanged at 2.0%.
= 3 Real GDP growth expectations revised down for 2024 and 2025 =
GDP growth expectations in the first quarter of 2024 survey round stood at 0.6% for 2024, 1.3% for 2025 and 1.4% for 2026 (see Chart 6).
Longer-term growth expectations (referring to 2028) were 1.3%, the same as in the previous survey round.

Chart 6

Expectations for real GDP growth
(annual percentage changes)
Respondents’ short-term GDP outlook includes a slight contraction in the final quarter of 2023, followed by slow recovery of economic activity throughout 2024.
[5] Expectations for quarter-on-quarter GDP growth for the period between the fourth quarter of 2023 and the third quarter of 2024 were slightly lower than in both the previous survey round and the December 2023 Eurosystem staff macroeconomic projections (see Chart 7).

Chart 7

Expected profile of quarter-on-quarter GDP growth
(quarter-on-quarter percentage changes)
Note: The grey area indicates one standard deviation (of individual expectations) around average SPF expectations.
Compared to the SPF round for the first quarter of 2022 (conducted in early January, before the invasion of Ukraine), the implied level of real GDP for 2026 is about 3.5% lower (see Chart 8).

Chart 8

Uncertainty about the growth outlook remained at elevated levels (see Chart 9 and Chart 10).
For the longer horizon, it remained positive with a small upward movement compared to the previous survey round.

Chart 9

Aggregate probability distributions for GDP growth expectations for 2024, 2025 and 2026
(x-axis: real GDP growth expectations, annual percentage changes; y-axis: probability, percentages)
Notes: The SPF asks respondents to report their point forecasts and to separately assign probabilities to different ranges of outcomes.
This chart shows the average probabilities assigned to different ranges of real GDP growth outcomes in 2024, 2025 and 2026.

Chart 10

This chart shows the average probabilities assigned to different ranges of real GDP growth outcomes in the longer term.
Similar to the trajectory of the previous round, the numbers imply that the unemployment rate is expected to increase in 2024 and then gradually decrease over the rest of the horizon (see Chart 11).
Respondents noted that the labour market has remained surprisingly resilient relative to real economic conditions and the economic cycle.

Chart 11

Aggregate uncertainty has fluctuated around elevated levels (higher than those prevailing before the pandemic) in recent survey rounds.
Regarding risks, respondents noted primarily upside risks to the unemployment outlook amid the weak outlook for growth and slightly higher than previously expected labour cost increases in 2024 and 2025 (see Chart 12 and Chart 13).

Chart 12

This chart shows the average probabilities assigned to different ranges of unemployment rate outcomes for 2024, 2025 and 2026.
Expectations for 2026 were not surveyed in the third and fourth quarter of 2023 rounds.

Chart 13

This chart shows the average probabilities assigned to different ranges of unemployment rate outcomes in the longer term.
Respondents expected the ECB’s
MRO interest rate to remain at 4.5% in the first quarter of 2024.
They expect further declines to 3.0% in 2025 and 2.75% in 2026 (see Chart 14a).
On average, the
USD/EUR exchange rate was expected to rise from 1.09 in the first quarter of 2024 to 1.13 in 2026 (see Chart 14b).
Compared with the previous round, the expected level of
US dollar-denominated oil prices was revised down over the entire horizon.
Respondents expected wage growth to moderate to 2.8% in 2026 and revised down their expectations of longer-term wage growth (2028) by 0.3 percentage points from 2.9% to 2.6% (see Chart 14d).

Chart 14

Expectations for other variables
= Annex (chart data) =
Excel data for all charts can be downloaded here.
Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged.
For specific terminology please refer to the ECB glossary (available in English only).
This is in line with the historical average for the response rate in rounds conducted in the first quarter of the year.