Global Backlash Drives Worst ESG Fund Redemptions on Record
The global market for sustainable funds just suffered its worst quarter on record with redemptions reaching an all-time high, according to a fresh analysis by Morningstar Inc.
Against a backdrop of 'geopolitical uncertainty and a growing backlash against ESG,' investors withdrew an estimated $8.6 billion in the first quarter of 2025, Morningstar said on Thursday. The development marks a 'stark reversal' from the $18.1 billion in inflows in the final quarter of 2024, it said.
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CNET
an hour ago
- CNET
I Used ChatGPT to Plan a Career Pivot, and Found It Empowering
The future of work, and the very concept of a career, is on shaky ground. While technologists and business leaders prophesize over the most likely economic impact of AI, workers are left wondering where their place and purpose will be in the decade ahead. With a tough job market, the cost of living, the rise of AI and global uncertainty, it's a good time to contemplate your career. You can do this with the help of an AI chatbot, which can talk through your options and come up with a plan. If you can't handle another week of Sunday scaries, you're experiencing a career calling in another direction or simply want a backup plan if robots take over, use ChatGPT as a brainstorming buddy. You can also chat through how to negotiate a raise, write a cover letter and resume, find a new job and use it as a career coach. Career change, here I come This exercise isn't for a role shift or moving around within the same industry. Rather, it's to help guide your thinking if you're considering a complete career change. Quick caveat: Don't make any important life decisions using only AI. Sit with the chatbot's suggestions, talk to the people in your life, do your own research and ponder on what a new profession might look like. While I'm happy with my job as a freelance writer (yes, even in the age of AI), I'll use myself as an example of how to walk through the process. According to the World Economic Forum, there will be 92 million displaced jobs, but 170 million new jobs in the next decade. Meaning the next era will be more about career changes than job losses. I downloaded the 290-page document so I could upload it into ChatGPT to interpret and use in its career shift suggestions. You want to pick lucrative career paths that are on the rise, not in decline. Log into ChatGPT so it has all the context about you from any previous times you've used it for questions or advice. You might need to feed it more information about your interests, goals and life vision, though. If you tried the "dream day in the life" trend, this is good information to use. You likely have more of an idea about what you want to do with your life now than you did when you were 18. Use your life experiences and learnings to guide ChatGPT. If you have an idea of the area you'd like to move into next, tell ChatGPT. If not, start here: "I'm currently a [role] at [company] and have been working in [industry] for [number of years]. I'm interested in [X], [Y], [Z]. What are some different career paths and industries that could be suitable? Use everything you know about me, as well as this attached report to identify lucrative career options." For me, ChatGPT provided some writer-adjacent career options, like a communications director, policy writer, workshop facilitator or marketing manager. These were still within the communications realm, so I had to specify in my second prompt that I was looking for a complete career change. But I didn't love what it suggested: ChatGPT/Screenshot by CNET I told ChatGPT that I'd be willing to upskill and get another degree. It came up with a behavioral scientist, human-centered AI ethicist, a role in urban design and policy, and a mental health innovator. All of these roles were still very "techy" and not really what I'd be into. I gave that feedback to ChatGPT. While the non-tech, high-demand job suggestions were a little closer, nothing excited me. ChatGPT kept trying to push me into sustainability and education. Two noble paths, but neither light me up. New career suggestions This time, I told ChatGPT that I have a growing interest in women's health and fertility, after going through IVF. I asked: What are some lucrative, fast-growing career paths in this sector? ChatGPT/Screenshot by CNET ChatGPT laid out a few possible paths, with training options and earning potential. For example, a fertility coach, patient advocate, policy advocate, head of content for a fertility brand, editorial director for a women's health publication or founder for a women's health venture. ChatGPT/Screenshot by CNET Now we're talking! Next, I said I'd slowly transition into this field over the next five years and would be happy to do more study, then asked for more recommendations and a timeline to work toward. Here's the suggested roadmap: ChatGPT/Screenshot by CNET ChatGPT/Screenshot by CNET I asked ChatGPT to tweak the timeline, based on a few changes, and it gave me another updated five-year transition plan. While the plan wasn't perfect, it was 80% there. ChatGPT gave me ideas I hadn't thought of and provided some pretty convincing stats, like what the fastest-growing job categories will be, predicted employment rates, wage potential and median salary. This was an empowering exercise that everyone should do. It's always good to have a plan B in place. Remember you'll probably have to hold the AI chatbot's hand before it will reach the right path for you -- and then it'll be able to give you ideas and information on what you need to do to get the rest of the way there. Just make sure you also talk to some real people before committing to anything.
Business Wire
an hour ago
- Business Wire
Global Partners LP Announces Pricing of Upsized Private Offering of Senior Notes
WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) ('Global') today announced that it has priced an upsized private offering of $450 million in aggregate principal amount of 7.125% senior unsecured notes due 2033 (the 'Senior Notes'). The Senior Notes will be co-issued by GLP Finance Corp. and guaranteed by certain other subsidiaries of Global. The sale of the Senior Notes is expected to be completed on or about June 23, 2025, subject to customary closing conditions. The Senior Notes will be issued at par. Global intends to use the net proceeds from the offering of the Senior Notes to fund the purchase of its outstanding $400 million aggregate principal amount of 7.00% senior notes due 2027 (the '2027 Notes') in a cash tender offer (the 'Tender Offer') and to repay a portion of the borrowings outstanding under its credit agreement. The Tender Offer is being made pursuant to an Offer to Purchase and Notice of Guaranteed Delivery, each dated June 10, 2025. To the extent the Tender Offer is not completed or is completed but Global purchases less than all of the 2027 Notes in the Tender Offer, Global intends to use any remaining net proceeds from the offering of the Senior Notes to redeem any 2027 Notes that remain outstanding on or about August 1, 2025. The Senior Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance upon Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and non-U.S. persons in transactions outside the United States in reliance upon Regulation S under the Securities Act. The Senior Notes have not been and will not be registered under the Securities Act or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes, nor shall there be any sale of the Senior Notes in any state in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. This announcement shall not constitute an offer to purchase, or the solicitation of an offer to sell, the 2027 Notes, nor shall it constitute a notice of redemption with respect to the 2027 Notes. About Global Partners LP Building on a legacy that began more than 90 years ago, Global Partners has evolved into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. Global operates or maintains dedicated storage at 54 liquid energy terminals—with connectivity to strategic rail, pipeline, and marine assets—spanning from Maine to Florida and into the U.S. Gulf States. Through this extensive network, the company distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. In addition, Global owns, operates and/or supplies approximately 1,700 retail locations across the Northeast states, the Mid-Atlantic, and Texas, providing the fuels people need to keep them on the go at their unique guest-focused convenience destinations. Recognized as one of Fortune's Most Admired Companies, Global Partners is embracing progress and diversifying to meet the needs of the energy transition. Forward-Looking Statements Certain statements and information in this press release may constitute 'forward-looking statements,' including statements regarding the expected terms and timing of the offering of the Senior Notes and the Tender Offer and the intended use of proceeds from the offering of the Senior Notes. The words 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'foresee,' 'should,' 'would,' 'could' or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global's current expectations and beliefs concerning future developments and their potential effect on Global. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Global will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond Global's control) and assumptions that could cause actual results to differ materially from Global's historical experience and present expectations or projections. We believe these assumptions are reasonable given currently available information. The assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, which are described in our filings with the Securities and Exchange Commission (the 'SEC'). For additional information regarding known material factors that could cause actual results to differ from Global's projected results, please see Global's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
CBS News
an hour ago
- CBS News
What's a good student loan rate for fall 2025?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. There are student loans with rates that won't break the bank — but you'll have to do your homework to find students heading into the fall 2025 semester have more than dorm room checklists and course schedules on their minds. They're also navigating today's tricky borrowing environment. While inflation has cooled substantially over the past year, interest rates remain high across the board, which can make it tough to find affordable borrowing options. And, the cost of higher education has continued to climb, which means that paying for school often requires taking out substantial amounts of money. So, borrowing for school is a significant financial decision right now. And, if you plan to borrow enough to cover all of your fall 2025 college expenses, you could end up with hefty interest charges if you aren't careful. That's why locking in a good student loan rate this fall is more important than ever. But what exactly is a "good" rate in 2025? With federal and private loan options on the table — and a wide range of rates — it's not always obvious. Below, we'll detail what you need to know to spot a solid rate and avoid overpaying for your education. Start comparing your private student loan options online now. What's a good student loan rate for fall 2025? Federal student loan rates declined slightly for the 2025-26 school year — the first time rates have fallen in five years. For federal undergraduate loans, student loans disbursed between July 1, 2025, and June 30, 2026, the interest rate will be 6.39% — down from 6.53% for the 2024-25 school year. Graduate student loans will have a 7.94% interest rate, and Parent PLUS loans will have an 8.94% interest rate. The general rule is that a good student loan rate is the lowest rate you can qualify for based on your financial situation, but is ideally below the national average. So, with fixed federal rates now at 6.39% for undergrads, anything significantly below that from a private lender could be considered competitive. And, it's possible to find substantially lower rates on private student loans right now. For example, there are lenders offering fixed private student loan rates starting at 3.29% and variable rates starting at 4.39% for the fall 2025 semester. Here's a breakdown of the current private student loan ranges from some of the top lenders: Private fixed-rate student loans : 3.29% – 17.99% : 3.29% – 17.99% Private variable-rate student loans: 4.39% – 15.99% For most borrowers, the lower end of those private student loan rate ranges is only accessible with a strong credit score and a low debt-to-income ratio, or with the help of a creditworthy co-signer. If you can land a fixed rate under 6%, that's good in today's environment. If your best offer is higher than 7%, though, and you qualify for federal aid, sticking with federal loans might be the safer route. After all, federal loans offer unique borrower protections like income-driven repayment plans and potential forgiveness options — and your rate will be lower on that type of loan, too. Find the student loans you need for the fall 2025 semester today. How to find the best student loan rates this fall If you're hunting for the lowest possible rate this fall, the key is to be prepared, know what the lowest rates are in today's rate landscape and then shop around and compare your options. Here's how to do that: Start with federal aid. Always fill out the Free Application for Federal Student Aid (FAFSA) first to find out what, if any, federal loans or grants you qualify for. Federal loans come with built-in benefits that private loans don't offer, like fixed rates, no credit checks for undergrads, deferment options and forgiveness programs Always fill out the Free Application for Federal Student Aid (FAFSA) first to find out what, if any, federal loans or grants you qualify for. Federal loans come with built-in benefits that private loans don't offer, like fixed rates, no credit checks for undergrads, deferment options and Compare private lenders. If you've maxed out your federal aid or are looking for additional funds, you'll need to turn to private lenders If you've maxed out your federal aid or are looking for additional funds, you'll need to Look for discounts. Some private lenders offer rate discounts if you sign up for autopay or if you're a returning customer. Even a 0.25% reduction can make a meaningful difference over time, so make sure to inquire about those opportunities to save. Some private lenders offer rate discounts if you sign up for autopay or if you're a returning customer. Even a 0.25% reduction can make a meaningful difference over time, so make sure to inquire about those opportunities to save. Apply with a co-signer if needed. Most undergrads don't have long credit histories, and that's where a co-signer (like a parent or guardian) can help. Co-signed loans often qualify for better rates, especially if the co-signer has strong credit. Most undergrads don't have long credit histories, and that's where a co-signer (like a parent or guardian) can help. Co-signed loans often qualify for better rates, especially if the co-signer has strong credit. Understand the fine print. The rate and loan terms also matter. For example, variable-rate loans may start lower but they can increase over time, which could become costly if rates rise further. Fixed-rate loans offer more predictability and are generally safer unless you're confident you'll repay quickly. So, if you're worried about increasing loan costs down the line, it could make sense to choose a fixed loan with a slightly higher rate rather than opting for a variable rate that could increase in time. The bottom line When it comes to covering the cost of college this fall, borrowers should be especially strategic about finding the best rate possible to keep the costs down. A good student loan rate in 2025 is anything under the federal benchmark — but is ideally closer to the 4% to 5% range, which may be possible to find with the right lender. But it's also important to remember that the "best" rate isn't just about the number. It's also about flexibility, protections and your long-term repayment goals.
