Climate Change Impact & Adaptation - Severe weather events are increasing, with 2024 being the hottest year on record and the National Weather Service issuing 3,000 flash flood warnings by mid-July [6] - Traditional engineering practices assuming stable past conditions are no longer valid due to climate change [10][11] - Adaptation to climate change is imperative, with a shift needed from shallow adaptation (e g, sandbags) to transformative adaptation [11][12][13] Transformative Adaptation Strategies - Transformative adaptation involves creating different physical spaces that collect floodwaters while providing habitat and open space [13] - Resilient Mystic is a plan that uses passive recreation areas for floodwater storage, green stormwater infrastructure, and elevated critical infrastructure [16][17] - Community involvement is crucial in developing resilience plans, shifting from expert-driven solutions to collaborative approaches [18][19] Economic & Policy Implications - Investing in resilience yields a resilience dividend, with multiple cumulative benefits accruing to communities for every dollar invested [20] - Resilience and adaptation require political will, funding, and policy, emphasizing the importance of electing leaders who understand the benefits of resilience [22][23] - Sharing experiences with climate change and promoting transformative adaptation can foster collaboration for a more resilient future [24]

Nedbank Group Limited Update Summary Company Overview - **Company**: Nedbank Group Limited (OTCPK:NDBK.Y) - **Date of Briefing**: December 03, 2025 Key Industry Insights - **Industry**: Banking and Financial Services - **Market Conditions**: The macroeconomic environment is improving, with lower interest rates and inflation contributing to better disposable income and growth in secured lending portfolios [5][6][14] Core Financial Performance - **Non-Interest Revenue (NIR)**: Expected to grow below mid-single digits for the full year, primarily due to delays in deal flow and the impact of a one-off commercial settlement with Transnet [1][15][80] - **Expenses**: Growth in expenses was mid- to upper-single digits, with expectations to remain above mid-single digits for 2025, excluding one-off settlements [1][2] - **Return on Equity (ROE)**: Projected to be around 15% or slightly higher for the full period [2] Strategic Developments - **Share Buybacks**: Approximately 10.5 million shares repurchased for ZAR 2.4 billion at an average price of just below ZAR 230 per share [3][21] - **Acquisition of ICORCA**: Completed on December 1, 2025, aimed at enhancing presence in the SME and mass market segments [3][26] - **Organizational Restructure**: Completed in July 2025, aimed at improving the profile and performance of the Commercial Banking business [3][10] Business Segment Performance - **Personal and Business Banking (PPB)**: Strong growth in value-added services and client gains, with a focus on cross-selling following the organizational restructure [1][70] - **Corporate and Investment Banking (CIB)**: Delays in deal closures, particularly in renewable energy and infrastructure sectors, pushing expected growth into 2026 [6][62] - **Retail Loan Growth**: Notable improvement in secured lending, with a halt in market share losses in personal loans, although card lending remains weak [5][30] Risk Management and Capital Adequacy - **CET1 Capital Adequacy Ratio**: Remains above the target range of 11%-12%, indicating strong capital position [2] - **Credit Quality**: Improvement across most portfolios, with a clean corporate book and reduced watch list clients compared to previous years [17][18] Future Outlook - **Growth Projections**: Anticipated mid- to upper-single digit growth in loans and advances for 2026, driven by infrastructure spending and improved macroeconomic conditions [78] - **Market Positioning**: Focus on leveraging the ICORCA acquisition to penetrate the mass market and enhance cross-selling opportunities [26][59] Additional Considerations - **Benchmark Reform**: Transitioning from JIBAR to ZARONIA is well-managed, with no expected risks to the business [46] - **Competitive Landscape**: Noted aggressive pricing in the renewable energy sector affecting deal closures, highlighting the importance of strong client relationships [66] This summary encapsulates the key points from the Nedbank Group Limited update, focusing on financial performance, strategic initiatives, and market outlook.

Group 1 - The article emphasizes the importance of in-depth research on various income alternatives, including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - It highlights the positive feedback from users, with 438 testimonials, most of which are rated 5 stars, indicating a strong user satisfaction [1] Group 2 - Leo Nelissen is identified as an analyst focusing on significant economic developments related to supply chains, infrastructure, and commodities, contributing to actionable investment ideas [2] - The analysis particularly emphasizes dividend growth opportunities, suggesting a focus on income-generating investments [2]

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Core Insights - Infrastructure is a critical component of global progress, encompassing highways, ports, energy grids, data networks, and water systems [1] Group 1 - Infrastructure is typically easy to identify, with various sectors contributing to its definition [1]

Economic Trends & Consumer Behavior - Black Friday spending reached billions, potentially breaking Cyber Monday records, indicating strong consumer activity despite cost of living concerns [1] - The economy is K-shaped, with some segments of society doing well while others are struggling with rising costs of insurance and groceries [2] - There's an expectation for the Federal Reserve to cut rates in response to the economic disparities [2] Government Fiscal Policy & Job Creation - The government attempted to support the lower tier of consumers through measures like no tax on overtime and new tax on tips [3] - Pro-business efforts aim to encourage businesses to restore and build out their manufacturing, with infrastructure projects creating jobs [4] - AI is not replacing all jobs, particularly in infrastructure where physical labor is required [4][15] Healthcare & Affordable Care Act - Congress is considering changes to the Affordable Care Act, specifically the enhanced premiums [5] - A proposed plan involves giving 100% of the enhanced premium tax credit to patients in the form of a deposit with a health savings account, instead of insurance companies taking 20% [5][9] - This approach aims to lower healthcare costs by allowing patients to choose cheaper plans and providing first-dollar coverage [6][9] Reshoring & Manufacturing - Tax policies and tariffs incentivize companies to reshore or nearshore, which will create jobs [12] - The reshoring of manufacturing activity is expected to cause a general economic boom [13] Productivity & Investment - Increasing the productivity of the nation will increase tax revenue by increasing the growth of the economy [15] - Shifting investment to more productive areas of the economy is viewed as a positive step [16]

Polkadot’s first era was about building the foundations: core tech and infrastructure.The second era is different. It’s about products and user-facing tools for sovereign individuals.Learn more ⤵️https://t.co/mSwhwpFLx8 ...

Economic Growth & Politics - British millennials are embracing infrastructure, housing and the politics of economic growth [1] Social Trends - Millennials are supporting an unlikely new cause [1]

As global trade realigns and fresh capital flows reshape Africa's economies. I caught up with some of the most influential business figures from across the continent. We have to create a country, an economy, and the private sector is key.If you look at the most successful economies in the world. They've succeeded because the private sector has identified those countries as good places to invest, good policies, whether it's legislative or fiscal or tax. The government's welcome investments.The private sector ...

British millennials are embracing an unlikely new cause: infrastructure, housing and the politics of economic growth. https://t.co/TCPYPTsNLP ...