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DealBook: Delta Carbon Plans. Yes, I read this right.

good morning. We’ve identified the scale of legal issues for Tesla, so you don’t have to do that. (Was this message sent to you? Register here.)

Ed Bastian, Delta Air Lines, will announce this morning an ambitious plan to become the first US airline to receive neutral carbon. The company pledges to spend at least $ 1 billion over the next decade to purchase emission compensation and invest in more efficient aircraft, new fuel sources and carbon capture technologies.

Most of his money often goes towards displacementBecause the industry will depend on fossil fuels for the foreseeable future. (After all, Elon Musk didn’t suggest building electric planes yet.)

Andrew takes: This is a huge step that is likely to generate goodwill for Delta and put pressure on other airlines, many of which may not be able to afford similar programs. But sustaining the purchase of offsets for a decade is an open issue. Also, what constitutes an offset and how to reasonably measure and track their progress will be a challenge. And what happens when the economy recedes, or Mr. Bastian C. is no longer. or. Will the program survive?

Some background reading: Air travel accounts for only about 2.5 percent of global carbon emissions, but projections indicate that greenhouse gas production is in the industry It will triple by 2050.

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DealBook Briefing was written today by Andrew Ross Sorkin in New York, Michael J. de La Merced and Jason Carian in London.

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There are no midterms with Elon Musk. Yesterday proved it again, when Tesla released a A big batch of news, With something for everyone.

The electric car maker is selling $ 2 billion of sharesJust two weeks after Musk told investors it was “not logical” to raise more money. Given the rapid rise in its share price – the stock has more than doubled so far this year – It seems silly not to take advantageEspecially since the company is also planning to double its capital spending at least this year.

So what? Tesla shares rose about 5 percent yesterday.

from where we start? The New York Times, Ron Lieber Gather an introductory book on how to invest more responsibly, sustainably, or whatever the latest move from the E.S.G. game. Booming. The investment industry. (For example, it means environment, social, and judgment for beginners.)

Ron takes:

There is a lot to consider, but there is no need to move your entire net worth at once. Start small, possibly using your workplace 401 (k), before processing any other accounts.

And if the fluid definition from E.S.G. It starts making you feel paralyzed or even ridiculed, like all this washed green tumor, and this is understandable. There is no perfect company, and every fund manager must trade off.

Talk about fund managers, a New report from Morningstar For example, it examined the voting records of large fund groups over the past five years. Among the most supportive decisions such as DWS, Blackstone and Pimco; among the least were DFA, Vanguard and BlackRock. (What gives, Larry?)

A federal judge temporarily prevented Microsoft from working on a $ 10 billion cloud computing contract for the Pentagon, giving victory to Amazon, the runner-up in that competition.

• Judge Patricia Campbell-Smith of the Federal Claims Court ruled Microsoft from starting work on the so-called JEDI contract, which was to begin this month.

• Amazon was the first to win the contract, and claimed that President Trump was an outcast.

““ The decision adds to the intensity surrounding the lucrative deal, which was a major prize in the technology industry, ”wrote Kate Conger of The New York Times.

The big question is what Amazon showed the judge To win this stay. Judge Campbell Smith’s opinion is stamped, so we do not know – and we may not know it for a while, if any.

British financial regulators have opened an investigation into what Jess Stahley, C. C. Barclays, for his relationship to Jeffrey Epstein thanks Unexpected source: Emails provided by JPMorgan Chase. The Financial Times compiled it together, citing unnamed sources

E-mails between the two men – dating from the era of Mr. Staley as JPMorgan’s CEO when Epstein was a bank customer – indicate that their relationship is more friendly than what Mr Staley, who classified the association as a professional, claimed, according to three people familiar with the matter .

People added that the cache was provided by JPMorgan to regulators in the United States, who passed it on to their UK counterparts. Epstein until 2013 was a key client of Private JPMorgan Bank, which Mr Staley was working on.

FT’s Lex column is pessimistic About Mr. Staly Prospects for survival“The Barclays Council, chaired by Chairman Nigel Higgins, stated that Mr Staley” maintains full confidence of the Board of Directors. “No matter how it sounds for an American in Europe, this usually means the opposite.”

President Trump and Governor Andrew Como met from New York yesterday to end a row over immigration that limited New York road warriors’ arrival to the accelerated airport security lines. they No common ground was found distance.

Context: The Department of Homeland Security has closed access to Trusted Traveler programs, including Global Entry, after New York passed a law prohibiting federal immigration agencies from viewing the state’s State Department. Records.

what happened: Mr. Como offered to allow federal agencies access to the capital only. The records of applicants for trusted traveler programs. No dice.

Ramifications: New Yorkers – including many DealBook readers who complained to us – will not be able to renew global access status.

Hope Hicks she has He resigned from Fox’s chief communications officer to join the White House as an adviser to President Trump.

Eileen Naughton, Chief Human Resources Officer at Google, He is resigning.

I hired a shriek David Schwarzbach It optimally At C.F.O. the new

Jimmy Ascii, Who was head of global communications at WeWork until last fall, returned to consulting firm P.R. Teneo as Senior Administrative Director.

UBS has been officially released The search started To succeed him in C.E.O. , Sergio Ermote.

Deals

McClatchy, a newspaper publisher like the Miami Herald, filed for bankruptcy protection. (The New York Times)

New rules for reviewing foreign investment in American companies include taking into account the privacy of American citizens. (WSJ)

T. Rowe Price admits that its investment in WeWork was a “disaster”. (FT)

Politics and politics

• Judy Shelton, a candidate for President Trump of the Federal Reserve, received a bipartisan interrogation in the Senate. (The New York Times)

• Ten Amazon employees who donated to Senator Bernie Sanders defined their profession as “slaves” or “slaves.”Los Angeles Times)

• Mike Bloomberg teamed up with Mimi makers. What could go wrong? (The New York Times)

Technique

• The Ministry of Justice charged Huawei with six counts of extortion, which escalated the Trump administration’s battle with the Chinese telecom giant. (WSJ)

Oracle’s highest weapon against Amazon and Google in Washington: Ken Glock, chief lobbyist. (WSJ)

• How Zume stumbled, SoftBank-powered pizza company Android. (Interested in trading)

The best that remains

• Hot New Instagram Community: Personal Finance Tutors. (FT)

Why does the Iranian stock market rise until the economy suffers? (The New York Times)

Read Long Weekend: How a California government employee tries to help solve the state’s housing crisis. (The New York Times)

Thanks for reading! We will see you next week.

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