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Jim Cramer and Jeff Marks, the Club's director of portfolio analysis, on Thursday went over all 34 Club holdings during the January Monthly Meeting. View More

Jim Cramer and Jeff Marks, the Club's director of portfolio analysis, on Thursday delivered updates on all 34 Club holdings during the January Monthly Meeting. Here are the highlights from the first meeting of 2026, starting with our four turnaround stories: 4 turnaround plays Nike: The apparel and sneaker retailer has shown real signs of improvement under CEO Elliott Hill, who has already stabilized Nike's U.S. market. China, another crucial segment, is up next. Procter & Gamble: The weak quarterly earnings report on Thursday was expected, and we're viewing it as a clearing event for the consumer packaged goods giant. Management said the worst is behind it, setting the stage for a better performance in 2026 — especially behind a new CEO at the helm, Shailesh Jejurikar. Starbucks: With China now steadier and U.S. sales trends improving in the core North America business, we remain confident the business can reaccelerate. Investors will be getting an update during Starbucks' Investor Day next week. While the stock is very overbought, we're still comfortable with its current position in the portfolio. Texas Roadhouse: Cattle inflation has been a headwind for the restaurant chain for some time, which is why we recently trimmed our position. Jim, however, forecasts that beef prices will come down. As a result, we're not giving up on Texas Roadhouse or taking profits on the stock again. ... and the other 30 Apple: We don't understand why this stock isn't up more after management announced a new partnership with fellow Club holding Alphabet. The arrangement allows Apple to use Google's leading AI technology on some of its devices. That's a huge win. Investors who have been on the sidelines should start a position in Apple. Amazon: The stock sometimes trades on emotion rather than fundamentals, but Jim urged members not to give up. After all, Amazon keeps delivering where it counts. With a reaccelerating cloud business, shares are poised for a breakout. Jim likes it more than fellow Club names Meta and Microsoft, too. Broadcom: The custom chipmaker delivered a great quarter in December, but the stock has still underperformed into the new year. It's odd that shares haven't recovered, given that the broader market rebounded after President Donald Trump called off his threatened tariffs on a slew of European countries over Greenland. With shares down more than 4% this year, we're considering buying the dip. Boeing: This is a stock investors should own for the long term, according to Jim, who pointed to the company's strong free cash flow and recent order increase. We're thrilled to see that Boeing's turnaround story remains on track under CEO Kelly Ortberg. BlackRock: We recently sold some shares into strength, but that doesn't mean we're any less bullish. BlackRock has announced a series of acquisitions over the past two years that should expand its client base and give the firm greater exposure to fast-growing markets, such as private credit. As the world's largest asset manager, no one has BlackRock's scale. Bristol-Myers Squibb: Shares have been on a tear despite no new updates on expanding the company's schizophrenia drug, Cobenfy, to treat Alzheimer's — a key to our investment thesis. Despite recent setbacks in the trials, we're still sticking with it. Jim also highlighted Johnson & Johnson, a former Club holding that is now in the Bullpen . Jim called J & J "a health-care company that's better than what we own" after reporting a strong fourth quarter of fiscal 2025 on Wednesday. Capital One: The credit card issuer will release quarterly earnings on Thursday after the bell. All eyes will be on management's response to Trump's call to cap card interest rates at 10% for a year. It wouldn't be wise for CEO Richard Fairbank to push back against Trump, Jim said. We're focused on the benefits from Capital One's acquisition of Discover. Costco: We got spooked after Costco delivered a mixed quarter in December, showing renewal rates drifting lower and a more selective consumer. It's why we decided to cut our position on Dec. 16. Jim thinks "we've seen the last of those trajectories," though. Salesforce: This is the portfolio's only problematic tech position, according to Jim. Salesforce shares have been under pressure with the rest of the enterprise software group on concerns about AI-driven disruption risks. The big question: Is CEO Marc Benioff's Agentforce, the company's suite of AI tools, powerful enough to offset weakness in other businesses? CrowdStrike: This stock has differentiated itself from the rest of the cybersecurity cohort, including Club holding Palo Alto Networks. CrowdStrike's security platform, which protects enterprise clients from bad actors, and its all-star management team, led by CEO George Kurtz, make it a standout in the sector. Cisco Systems: It's hard to find a high-quality networking company trading at a very reasonable high-teens price-to-earnings multiple. It's also a great AI play because the company is making strides to attract more web-scale customers. DuPont: This industrial name has steady health care, water, and diversified materials businesses that can do well as the Federal Reserve lowers interest rates. DuPont, however, does have exposure to the diminishing electric vehicle market. It's a downside risk, but we can tolerate it because it makes up less than 10% of overall sales. Danaher: The tide is turning for this life sciences company, as momentum is building with biotech IPOs and large pharma takeovers — both of which should be followed by more equipment orders. That should help revive Danaher's bioprocessing equipment business. Dover: The Club took some profits on Wednesday. There haven't been any big announcements from Dover that warrant the outperformance. Instead, positive analyst calls have sent the stock higher. We couldn't waste the move up, but are hesitant to take any more off right now. Eaton: We got some good news on Wednesday: Management is considering spinning off its vehicle division, a legacy business with limited growth. We like Eaton because it's the world's leading electrical machinery company. GE Vernova: The turbine manufacturer remains a key winner from the AI data center buildout. We were previously concerned that management wouldn't expand production capacity enough to meet demand. That's no longer an issue. Corning: This stock trades better than most other data center plays. Corning sets itself apart with its business that replaces copper in data centers. Corning produces fibers that can reduce heating costs in energy-intensive facilities. We're still early on this trend. Alphabet: Alphabet is "an outright winner" among the most favorable megacap tech stocks, Jim said. Google's latest AI model, Gemini 3, has put it ahead of other chatbots from publicly traded companies. Alphabet's recent partnership with Apple is promising as well, given Apple's massive installed base. Goldman Sachs: The stock has the best momentum among our financial names thanks to its terrific Wall Street dealmaking business. It's a multiple expansion story that Jim says is "just way too cheap for the best in its industry." Home Depot: We aren't sure what to do about this home improvement retailer. It's a key beneficiary of interest rate cuts, but it hasn't performed like it. Peer Lowe's actually has more momentum. Honeywell International: We have been patient with lagging Honeywell as the company separates into an automation company and an aerospace pureplay. Thankfully, Honeywell stock surged after Quantinuum, the world's biggest integrated quantum computing company, filed to go public earlier this month. Honeywell is the majority shareholder in Quantinuum. Linde: This stock seems to have lost its way after issuing softer guidance last quarter. We're holding on to it. The industrial gas giant has strong pricing power and a diverse client base. Eli Lilly: We remain confident in the drugmaker's leading position in the fast-growing GLP-1 market. The company's oral GLP-1, expected to go to market sometime this year, should further expand its reach. Additionally, several drug readouts later in 2026 could be catalyst events. Meta Platforms: The social media giant is the "premier ad company of our time," Jim said. Meta's been spending more on AI, which is a necessary evil to compete. A silver lining: the stock's valuation is getting more reasonable. Microsoft: This one has been an enigma. Microsoft stock has been on a downward trajectory over the past three months, down 14%. It's unclear whether that's because the company's AI-powered assistant Copilot is a letdown or because there are challenges with its OpenAI partnership. The stock could be a buy since it's rarely this cheap. Nvidia: The AI chip leader has been subject to volatility, trapped in the geopolitical tensions between the U.S. and China as both countries race to be the first in AI. Jim believes the stock may continue to trade in a holding pattern until Nvidia's GTC conference in March, when CEO Jensen Huang is set to show off the latest semiconductor platform, Vera Rubin. We maintain our "own it, don't trade it" stance. Palo Alto Networks: Our other cyber name should continue to benefit from the secular trend of integrating AI-driven solutions in the cloud. The stock is well off its 52-week high of $223, now trading at $182 apiece. It is a potential buying opportunity. Qnity Electronics: Shares have upside despite already gaining 25% year to date. That's because this DuPont spinoff supplies the materials used in high-performance semiconductor and cellphone technologies. Both are seeing a significant increase in demand, which is great for sales. TJX Companies: The off-price retailer is set to benefit from the ongoing retail bankruptcies and closures, including Saks's most recent bankruptcy. These failing brands will be dumping huge volumes of inventory into the off-price channel. TJX, with its expert merchandising team, will be ready to buy them at a discount. Wells Fargo: The Wall Street bank didn't beat the top or bottom line last quarter. Still, we're not concerned. CEO Charlie Scharf is turning Wells into more of an investment house, which comes with higher expenses for now. We're holding out hope because these efforts should further diversify revenue. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Indian Oil Corporation is set to invest approximately one lakh crore rupees. The company aims to acquire and build 18 gigawatts of green energy capacity by the year 2030. Its renewable energy subsidiary, Terra Clean Ltd, is slated for a public listing by 2027-28. View More

New Delhi: Indian Oil Corp plans to invest about '1 lakh crore to acquire around 12 GW of renewable energy assets and build another 6 GW organically, creating an 18 GW green energy portfolio by 2030, its chairman A S Sahney said. The country's largest refiner and fuel retailer also plans to list its green energy subsidiary, Terra Clean Ltd , by 2027-28, by which time its renewable portfolio is expected to reach meaningful scale, Sahney told ET. Terra Clean has received board approval to develop 4 GW of renewable assets, he said, adding that another 2 GW is being executed through Indian Oil NTPC Green Energy Ltd, an equal joint venture between Indian Oil and NTPC. Power generated from the 2 GW JV project will be fully consumed by Indian Oil. Indian Oil is in discussions with potential sellers to acquire renewable assets. "We are on the lookout and evaluating certain cases," Sahney said. "We can't set a timeline for (any transaction). Our target is to take 10-12 GW in the next 4-5 years." Last year, state-run oil and gas producer ONGC acquired Ayana Renewable Power, which has a 4 GW renewable energy portfolio . Developing 1 GW of renewable capacity currently costs about '5,000 crore, while acquisitions typically come at a premium. An 18 GW portfolio could therefore require investments of around '1 lakh crore. However, the equity requirement is expected to be no more than '30,000 crore, which the company can comfortably fund over the next five years, Sahney said. Allocating around '5,000 crore annually for renewable energy is modest for a company that typically spends '30,000-35,000 crore a year on capital expenditure. Indian Oil has earmarked '35,000 crore in capex for 2026-27. Live Events Refinery expansions have dominated Indian Oil's capital spending in recent years. With its '1 lakh crore refinery expansion programme set to conclude next fiscal year, a large share of capex over the following five years will shift to renewables, petrochemicals, gas, and other non-refining businesses, Sahney said. Beyond climate goals, Indian Oil's push into renewables is part of a broader strategy to build new, durable revenue streams. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Minister Joshi pointed out that India is the only G20 nation to achieve its 2030 NDC target five years ahead of schedule, with non-fossil fuels now accounting for 50 per cent of its installed power capacity View More

A new Operational Technology Cyber Security Lab has opened in Noida. This facility is a joint effort by DSCI and Rockwell Automation. View More

New Delhi: Data Security Council of India (DSCI), in collaboration with Rockwell Automation , today inaugurated an Operational Technology (OT) Cyber Security Lab at the DSCI premises, Nasscom campus, Noida. The lab was formally inaugurated by Chief Guests Sarit Maheshwari – CEO, NTPC Green Energy Limited and NTPC Renewable Energy Limited; Lt. Gen. Rakesh Kapoor, Former Deputy Chief of Army Staff and R Ranjana, Director, Future Technologies, DRDO in the presence of Stephen Ford, Global CISO, Rockwell Automation; Dilip Sawhney, Managing Director – India, Rockwell Automation; and Vinayak Godse, CEO, DSCI. The initiative marks a significant step towards strengthening India’s cyber security posture for critical infrastructure, smart manufacturing , supply chain security and industrial environments amid the rapid digitalisation of operational systems. The OT Cyber Security Lab has been established to address the cyber security risks arising from the increasing convergence of digital technologies and operational systems in industrial and infrastructure environments. The facility is intended to support focused research and experimentation on cyber security challenges specific to OT, with an emphasis on strengthening security practices in real-world industrial contexts. Sarit Maheshwari - CEO, NTPC Green Energy Limited and NTPC Renewable Energy Limited, said, in a statement, “As we are witnessing a digitally transformed ecosystem, isolated systems until now have converged to more connected systems and security must be incorporated right from the design stage. Am glad to see initiatives such as the OT Cyber Security Lab by DSCI and Rockwell Automation which will pave the way and open access to start-ups for strengthening the OT ecosystem.” Live Events Envisioned as a national-level facility, the lab will enable industry and startups to test and validate cybersecurity solutions against real-world OT use cases in a controlled setting. It will also support training and capacity building by providing hands-on exposure to OT security tools, architectures, and scenarios for professionals working across critical sectors. Vinayak Godse, CEO, DSCI, said: “The augmentation of OT Cyber Security Lab reinforces our focus on securing operational technology environments that underpin critical infrastructure and smart manufacturing. The lab will facilitate startups to innovate, test, and validate cybersecurity solutions in real-world OT settings. By providing a controlled environment for experimentation and learning, the facility will help address complex security challenges and enhance national preparedness against cyber threats.” “As India digitises critical operations, OT resilience becomes a strategic imperative. Securing OT demands visibility, discipline, and continuous validation, and above all, collective action. Cybersecurity is a shared responsibility, and it requires the commitment of companies, industry bodies, and the wider ecosystem to build truly secure and resilient operational environments. Our collaboration with DSCI translates global OT security expertise into actionable, India-ready capabilities, helping organizations assess risk, validate controls, and build resilient operations at scale. This facility advances rigorous testing and training so organisations can better anticipate threats and reduce risk across industries,” said, Dilip Sawhney, Managing Director, Rockwell Automation India The lab will bring together industry and startups to enable collaboration on emerging cyber threats affecting OT systems and critical infrastructure. Through this multi-stakeholder engagement, the facility aims to support practical approaches to securing industrial environments and improving national preparedness against OT-focused cyber risks. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

At the World Economic Forum 2026, Andhra Pradesh's Minister Nara Lokesh engaged with international energy pioneers, advocating for Vestas to establish a wind turbine factory in the state. Conversations with RPSG Group revolved around advancing wind energy and enhancing food processing capabilities. View More

Davos: Andhra Pradesh Minister for IT, Electronics, Education and Skill Development Nara Lokesh held a series of high-level meetings with global energy and infrastructure leaders on the sidelines of the World Economic Forum ( WEF ) Annual Meeting 2026, pitching the state as a competitive destination for clean-energy manufacturing, green fuels and port-led industrial development. Lokesh met senior executives from Vestas, the world's largest wind-turbine manufacturer; India's RPSG Group; and Japan's largest power producer JERA, as part of Andhra Pradesh's global investment outreach aimed at attracting large-scale clean-energy and advanced manufacturing investments. In discussions with Morten Hoy Dyhrholm, Senior Vice-President of Vestas, Lokesh invited the company to explore establishing wind turbine blade and nacelle manufacturing facilities near Andhra Pradeshs' ports. He highlighted the state's port-led industrial clusters, export-oriented logistics and emerging wind-manufacturing ecosystem, along with plans to set up a dedicated Centre for Wind Energy in partnership with academic and technical institutions to ensure a steady pipeline of skilled manpower. "Vestas is the world's largest wind-turbine manufacturer with annual revenues of Euro 17.3 billion and an order book of Euro 68.4 billion," he said in a post on X. "I invited Vestas to explore setting up large-scale wind turbine blade and nacelle manufacturing units near our ports in Andhra Pradesh. With strong port-led logistics, an emerging wind manufacturing ecosystem, and our commitment to skill development - including a proposed Centre for Wind Energy with leading institutions - AP is ready to partner for global-scale growth." Live Events Lokesh also met Shashwat Goenka, Vice-Chairman of the RPSG Group, to review progress on the Group's 349.8 MW wind power project in the State and explore hybrid renewable solutions combining wind, solar and storage to supply green power to industrial clusters and ports. The discussions extended to potential investments in organic food processing, clean-label packaging, seafood value addition and ready-to-eat food manufacturing, leveraging Andhra Pradesh's agricultural base, coastline, workforce and port infrastructure. The two sides also discussed the use of RPSG's sports franchises, including Lucknow Super Giants and Mohun Bagan Super Giant, to support grassroots sports development in the State. "We discussed fast-tracking RPSG's 349.8 MW wind project in AP, exploring hybrid renewables (wind-solar-storage), and powering our industrial clusters & ports with reliable green energy," Lokesh said in a separate post. Also explored leveraging RPSG's sports franchises, Lucknow Super Giants & Mohun Bagan Super Giant, to nurture grassroots sports talent in Andhra Pradesh. "I invited the RPSG Group to invest in organic food processing, clean-label packaging, seafood value-addition, and ready-to-eat foods by leveraging AP's strong agri base, long coastline, skilled workforce, and port-led logistics," he said. In a separate meeting, Lokesh held talks with Yukio Kani, Global CEO and Chair of JERA, on long-term clean-energy collaboration between Andhra Pradesh and Japan. He invited JERA to invest in green ammonia production facilities near the State's port-led industrial clusters, positioning Andhra Pradesh as an export hub for Japanese and wider Asian markets. Discussions also covered solar-wind hybrid projects in Rayalaseema, integrated clean-energy platforms for anchor industries, and pilot initiatives on ammonia co-firing with APGENCO and NTPC to cut emissions from existing thermal assets. " I invited JERA to invest in green ammonia production near AP's port-led industrial clusters to serve Japan and Asian markets," Lokesh said in a separate post. "We also discussed solar-wind hybrid projects in Rayalaseema, integrated clean energy platforms for anchor industries, and pilots on ammonia co-firing with APGENCO & NTPC to cut emissions while ensuring grid reliability." Across the meetings, Lokesh outlined Andhra Pradesh's clean-energy roadmap focused on large-scale renewable capacity, advanced manufacturing, green fuels and rapid project execution, supported by deep-water ports, an extensive coastline, investor-friendly policies and a strong emphasis on skill development. "Global energy leaders are looking for destinations that can deliver at scale while enabling a credible transition to clean energy. Andhra Pradesh offers the infrastructure, talent, and policy certainty required to support that ambition," Lokesh said. The engagements at WEF 2026 underscore Andhra Pradesh's push to position itself as a global hub for renewable energy manufacturing, clean-energy exports and future-ready industrial growth. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The president said a search that began in September and once included as many as 11 candidates is nearly over. View More

watch nowVIDEO1:0301:03President Trump indicates he has made a decision on the next Fed chairClosing Bell President Donald Trump said Wednesday he is nearing the end of a search to replace Federal Reserve Chair Jerome Powell and hinted he has his candidate in mind.In a CNBC interview at the World Economic Forum in Davos, Switzerland, the president said a search that began in September and once included as many as 11 candidates is nearly over."I'd say we're down to three, but we're down to two. And I probably can tell you, we're down to maybe one, in my mind," the president said to CNBC's Joe Kernen. Still, Trump declined to name the one.The candidate list included past and current Fed officials, economists and Wall Street investors.The finalists had been widely believed to be Former Fed Governor Kevin Warsh, current Governor Christopher Waller, National Economic Council chief Kevin Hassett and BlackRock fixed income head Rick Rieder. Trump in the interview said Rieder, the last to interview, is "impressive" and praised all the candidates.In recent days, Trump said he preferred Hassett stay at the NEC, likely eliminating him from contention. Treasury Secretary Scott Bessent led the interview process. Trump in the past has expressed support for Bessent to take the Fed job, but said Wednesday, "Scott only wants to stay where he is."The statement on the Fed chair is the latest in a series of dramatic twists and turns in the saga following a year of unprecedented tumult for the central bank. Though Trump criticized Powell and his colleagues heavily during his first term in office from 2017 to 2021, he ramped up the pressure considerably in 2025. That included more verbal assaults on policymakers as well as threats to fire Powell and an actual attempt to sack Governor Lisa Cook, a move that was the subject of a Supreme Court hearing earlier Wednesday on presidential authority over the institution.With Powell's removal as chair a near certainty, the next question turns to whether he'll stay on another two years to serve out his remaining term as governor. Staying on would give Powell a continued say over monetary policy and interest rates and could act a bulwark against Trump's efforts to exert control over Fed decisions. Trump indicated some indifference as to what Powell decides."We live with the cards you're dealt," he said. "If that happens, his life won't be very, very happy, I don't think, by doing it. I think he wants to get out. He has not done a good job."Trump again criticized Powell for the renovation project at Fed headquarters, the price of which has run north of $2.5 billion. The Justice Department has subpoenaed Powell relative to the project."I could have done it for $25 million and it would have been nicer than what they're doing," Trump said.

The government has unveiled the draft National Electricity Policy, 2026, proposing strict tariff norms and structural reforms to improve discom finances. Aiming for Viksit Bharat, it targets significantly increased per capita electricity consumption by 2030 and 2047, with a focus on renewable energy, nuclear power, and financing needs. View More

New Delhi: The government on Wednesday unveiled the draft National Electricity Policy, 2026, proposing strict norms for power tariff determination , a framework for sweeping structural reforms to improve the financial health of discoms, financing requirements, and suggestions on long-term generation and transmission planning, nearly two decades after it was first issued. The policy aims to align with Viksit Bharat and focuses on planning for the next two decades, targeting per capita electricity consumption of 2,000 kWh by 2030 and over 4,000 kWh by 2047 from 1,460 kWh in FY25. The policy was issued in 2005 to give a broad direction and framework to the sector and has not been revised since. It is a mandatory guiding document for central and state power regulators under the Electricity Act, 2003. Tariff Emphasising the role of state regulators for bringing tariff discipline, the policy has recommended that tariffs fully reflect costs without creating regulatory assets. Live Events On the longstanding issue of the delay in annual tariff revision, the ministry has suggested the tariff be linked to an appropriate index to enable automatic annual revisions if state regulators do not pass the order. "Tariff orders must be issued before the start of each financial year," the draft policy stated. Despite numerous government bailouts, discoms remain financially strained, creating the need for a more transparent, cost-reflective tariff structure, the ministry said. The draft policy comes right before the Budget session of the Parliament, where the ministry plans to table the Electricity Amendment Bill that focuses largely on financial health of discoms and encouraging the private sector into this segment. The policy proposes a progressive reduction of cross-subsidies ensuring no tariff falls below 50% of the average cost of supply, single-digit aggregate technical and commercial losses, and differential pricing for electricity during peak hours. It also suggests exemptions from cross-subsidies and surcharges for the manufacturing sector, Indian Railways, and metro rail to keep them competitive. Distribution and Transmission It proposes shared distribution networks for competition, a move that had earlier drawn much resistance from states. It also recommends establishing a distribution system operator that aligns with the requirement for multiple distribution licensees. A risk-sharing and compensation mechanism is to be formulated to address mismatches in commissioning timelines between generation and transmission projects. Generation For renewable energy, the draft policy calls for enforcing consumption obligations and enable mechanisms such as virtual PPAs. Improving forecasting with central support to state load dispatch centres to establish a national meteorological data portal, is also on the cards. State regulators have been advised to ensure parity between renewable and conventional power sources by 2030 to maintain grid stability. Nuclear projects should be eligible for green bond funding, the draft said, adding that brownfield expansion, replacing coal-based captive plants with nuclear where feasible, fleet-mode implementation, and establishing local supply chains for cost optimisation will be considered. Retired thermal plant sites may also be repurposed for nuclear power wherever feasible. The draft policy also calls for incentivising domestic manufacturing of battery cells and other components for energy storage. Financing India's power sector will require approximately ₹50 lakh crore by 2032 and ₹200 lakh crore by 2047 for generation, transmission, and distribution. For this, dedicated platforms and energy-specific funds may be established under NaBFID and NIIF, as per the draft policy. Project bankability will be strengthened through risk-mitigation instruments, reserve funds, and multilateral support. Additionally, climate finance taxonomy will be explored to unlock concessional green financing, the draft underlined. Power market It envisages market mechanisms such as bilateral contract settlement, standardised exchange-based contracts and routing long-term PPAs through power exchanges. It also lays out the phased introduction of capacity markets to ensure adequacy and the expansion of ancillary services through market-based procurement including demand response. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

A scammer almost convinced me to give him all the money in my Coinbase account. View More

In this articleCOINFollow your favorite stocksCREATE FREE ACCOUNT Benito Aguilar | Twenty20 Jason Gewirtz is vice president of news at CNBC.  What follows is a personal account of his experience with a scammer.Last week my cell phone rang. It was about 1:30 p.m., and the iPhone ID showed the 650 area code, which I recognized as the San Francisco Bay Area. The caller ID listed the number as unknown but labeled it as coming from San Francisco.Given San Francisco's position in the heart of global innovation and technology and that it's the location of one of CNBC's key bureaus, I picked up despite not knowing who was calling, something people rarely do anymore.The voice on the other end introduced himself as Brian Miller from Coinbase's security office. He quickly told me there was "suspicious activity" on my account and wanted to know if I was trying to log in from Frankfurt, Germany, on an iPhone. I told him, "No, I haven't been in Germany in 20 years, and I never use my cell phone to log into my Coinbase account."  He told me someone with an address of "Mohamad25@gmail.com" was in my Coinbase account and had tried to make a transfer. The man claiming to be Miller then said, "I haven't seen this one before. He's saying he lost his phone on a conveyor belt at the airport in Frankfurt and needs access." Miller stopped for a second and then said, "He's trying to make another transfer right now."He continued, "I'm trying to figure out how he got access, he has your Social Security number, your phone and your email address. He also gave us a photo that matches your Coinbase face scan. Have you given anyone access to your information lately or have you noticed anything else suspicious on other accounts?" "No," I said.Looking back it's pretty clear, even to me, the attempted scam used classic pressure tactics to get me to feel like I was in danger, so I'd make a fast decision, rather than a smart one."They try to make you scared by making you feel like you're the victim, and they're calling to help," said Rick Wash, professor of information science at the University of Wisconsin, in a phone interview. Wash is a computer scientist who researched the possibility of electronic breaches two decades ago. He then began mixing his vast technical knowledge to focus on the personal side of the scam. "I began to realize the human factor was often the most critical factor of computer scams," Wash said. watch nowVIDEO13:5313:53Coinbase weighs in on latest crypto market structure legislation: CNBC Crypto WorldCrypto World While something always seemed out of place, my suspicions grew when Miller mentioned my photo. "I never gave Coinbase my photo," I told him.  He said, "In order to get an account you would have had to. You might not remember doing it but we have to have it due to know-your-customer rules." Miller then told me, "He's trying to make another transfer, but I have it on hold so he can't."I asked him to please send me an email so I know that he's really calling from Coinbase. He said, "I just sent you a case number about 10 seconds ago, you should have it." Then he asked if I had something to write with, and he read me a six-digit number. I told him that the email didn't arrive.  "Let me send another one," he said. "This will have a new case number." He read a second number and then said, "I'll wait until you get the email. You might not get it in your inbox because he's trying to change your email address. Check your spam."  Both messages were in the spam folder from what appeared to be a Coinbase email.  The messages had the same confirmation codes as the ones he gave me on the phone. There were no typos, there was a Coinbase logo and a text box with all the key information. The email address appeared to have come from Coinbase, but I thought it was odd it didn't have Miller's name on it. Then I spotted another sign that something wasn't right: The two emails came from slightly different addresses. One said "no-reply@mail-coinbase.com via sportuel.com," and the other said "support@info.coinbase via live-coinbase.com."He asked, "When was your last Coinbase transaction?" I thought for a few seconds and then remembered buying a very small amount of "Monad" which I'd never heard of before a guest mentioned it on "Squawk Box" last month.  Read more CNBC reporting on AIThis Meta alum has spent 10 months leading OpenAI's nationwide hunt for its Stargate data centersAI Sam Altman and the Sora copyright gamble: 'I hope Nintendo doesn't sue us'Anthropic launches Claude Sonnet 4.5, its latest AI model that's 'more of a colleague'Sam Altman on worries about OpenAI’s $850 billion in planned buildouts: ‘I totally get that’ When he followed by asking, "What are your total assets?" I responded, "Shouldn't you know that?" He said, "Due to confidentiality, I can't say." So, I gave him a wide range, being embarrassed about how little money I had, and starting to realize that something wasn't right.Miller then told me I really needed a "Coinbase Hard Wallet" and asked if I was familiar with that. I said I was not. He offered to help me set it up.  I asked, "First should I change my Gmail password?" "Probably a good idea," he said.Then I asked, "Shouldn't I change my Coinbase password?"At that point, he hesitated and said, "We don't recommend that. Right now I have your account on hold. If you change your password, it will freeze it for up to two weeks."  I told Miller that I had a meeting in five minutes and asked how long it would take to get the Coinbase Hard Wallet. He told me 20 minutes. I said I had to go, but I asked if we could talk again at 3 p.m. He promised to call me back. Close call When I hung up, I tried to figure out what to do next. It didn't seem right but several details lined up. I checked my account. Nothing seemed out of order.Then I took the email addresses he had sent. I copied them and asked Claude, Anthropic's AI chatbot, if they were legitimate. The response came back, "This is almost certainly a PHISHING scam."Several red flags popped up, including that the messages were coming from the wrong domain. "The real Coinbase sends emails from @coinbase.com, not @live-coinbase.com. That hyphenated domain is a classic phishing tactic," according to the AI program's notes. Claude also flagged the suspicious "via" address: "Legitimate companies don't route emails through third-party domains like this," according to the AI program.I said to myself, "Thanks, Claude," while also thinking, "That was close." I called an old contact in Coinbase's public relations department who told me, "I don't work there anymore, but that's probably a scam. Coinbase doesn't call people."  She promised to send details on my situation to the current team at Coinbase who texted and called within a few minutes confirming it was a scam. The caller ID lit up on phone, "Coinbase" and because I expected the call, I was willing to trust it despite being a little nervous at first. I told the Coinbase representative I'd write up the whole 15-minute call for her so they could hopefully use it to warn others… then decided, maybe this would be a good article for CNBC.com.  Coinbase agreed. A spokesperson who often deals with security issues said the company has ways to prevent people from being scammed, even when the victim falls for it, including watching for large transfers or sudden sales from accounts that don't often transfer or sell crypto.  A smartphone with the Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this photo taken June 8, 2023.Dado Ruvic | Reuters "We invest heavily in prevention, detection, and rapid response," the spokesperson said in an email. The rep added that Coinbase would never tell a customer to transfer crypto into a safe wallet. "If someone tells you to move funds to protect them, it's a scam," the spokesperson said.Coinbase also acknowledged that artificial intelligence was a multiplying factor in scam attempts and the quality of scams. "Attackers use a variety of bots and AI automations to make their workflows easier" the company said, noting that AI voice agents are being used "to create more believable automated calls."According to ZeroShadow, a firm that tries to return stolen crypto assets back to their rightful owners, their systems have seen a 1,400% increase in "impersonation scams" in the last year. "The attacks come from inside and outside of the U.S., but the people behind the scams often try to hire young men or teenagers, people who have less inhibition, and train them," said Casey G., ZeroShadow's CEO, who asked that his full last name be withheld because of security threats. "They sell them scripts and sometimes voice modulation devices."The CEO said his firm has recovered about $200 million for victims over the last four years, but he admits it's a difficult process. "Once the crypto is out of your account, we can trace it, but getting it back isn't so easy," he said. "We need help from local authorities. Crypto has less protection than the traditional banking system in the U.S." Casey G. also said AI is being used by scam chiefs to multiply their workforce.One of the most successful techniques the scammer used was creating a sense of urgency. By telling me there was an ongoing attempt while we were on the phone, I was almost tricked into taking action or giving up information. I felt my pulse racing and had an instinct to stop whatever was happening.  Anti-scam experts say that's a common tactic that's getting more sophisticated as bad actors buy and sell successful "scam scripts" on the dark web. Coinbase said it advises people to "slow down, take a beat, verify things independently and don't act under pressure."Be careful out there.WATCH: The alarming rise of AI 'nudify' apps watch nowVIDEO16:5516:55Victims speak out about the harm of AI-powered 'nudify' toolsTech

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