- __[Streak](https://snacks.robinhood.com/newsletters/4S6VRj1OyGvIKuWQhrgJ1T/articles/MohlPPKKoqicsH0xgKkLw/):__ Digital payments company __Paytm__ went public through its parent company in India’s largest IPO, the latest in the country’s tech boom.
- __[Mickey](https://snacks.robinhood.com/newsletters/28AOcZrOf9ipURzSc76djJ/articles/4Mb4kf5LUZeTIJ1jdDgZcA/):__ __Disney__ is "aggressively" exploring sports-betting content through its ESPN brand, as streaming growth slows. Disney’s biz still isn’t back to pre-pandemic levels.  
- __[Poll](https://snacks.robinhood.com/newsletters/69v4BtkyELEbR3U1usMFhD/articles/1UHSLqXsQcA0fwaJ9m7GG7/):__ Elon Musk asked his 63M __[Twitter](https://robinhood.com/stocks/TWTR)__ followers if he should sell $21B worth of __[Tesla](https://robinhood.com/stocks/TSLA)__ shares to pay taxes, continuing a national debate around taxing billionaires.

ICYMI

Last week's highlights...

__"We'll always have Paris"...__ The classic "Casablanca" quote isn't landing for global leaders. The UN's 26th annual climate summit just wrapped up in Glasgow. Lawmakers, biz execs, and activists from 200 countries met to help keep the 2015 Paris Agreement alive. Read: the target to cap global warming at 1.5 °C (2.7 °F) above pre-industrial levels. While the UN said the world is "way off track" in stopping rising temps, some new pledges could help:

- __100+ countries__ vowed to slash methane emission levels by 30% by 2030, led by the US and EU. 
- __100 countries__ representing 85% of the world's forests agreed to end and reverse deforestation by 2030, backed by $19.2B in public and private funding.
- __India,__ the second most populous country after China, vowed to hit net-zero emissions by 2070 and use 50% renewable energy in its mix by 2030.
- __China,__ Earth's largest polluter, unexpectedly promised to finalize a plan to reduce its methane emissions this decade (without concrete deets).
- __[Ford](https://robinhood.com/stocks/F)__, __[GM](https://robinhood.com/stocks/GM)__, and __[Volvo](https://robinhood.com/stocks/VLVLY)__ committed to phasing out fossil-fueled vehicles by 2040, as did some countries. The US, China, and Germany skipped the pledge.

__The private sector steps in...__ While countries' pledges underwhelemed, the global finance industry made new efforts: a coalition of the world's largest financial firms that together control $130T in assets [committed](https://www.nytimes.com/2021/11/03/world/europe/cop26-climate-change-finance-industry.html) to using their $$ to hit net zero emissions targets in their investments by 2050. 

- __The alliance:__ 450 banks, insurers, and asset managers across 45 countries — including heavyweights like __[JPMorgan Chase](https://robinhood.com/stocks/JPM)__, __[Citi](https://robinhood.com/stocks/C)__, and __[BlackRock](https://robinhood.com/stocks/BLK)__. 
- __Critics say the pledge falls short__ because it doesn't commit investors to stop putting money into fossil fuels – and it's non-binding. 
But it *does* show a broad commitment by financial firms to have emissions slashed in companies they invest in. 


Temp

__Global accountability is *hard*...__ It’s easier for individual governments to hold their citizens accountable, and vice versa. It’s much harder for countries to hold *other* countries accountable, especially when power is lopsided. After the summit, many countries still remain at odds. And pledges made have fallen [dangerously](https://www.wired.com/story/cop26-climate-change-targets/) short of the 1.5 °C target. Global temps are estimated to rise anywhere from 1.8 °C to 2.7 °C by the end of the century, which the UN says would be “catastrophic." For real change to happen, both governments and corporations need to step up.

Countries' UN climate pledges underwhelm, but financial giants vow to prioritize green efforts

__Bringing home the bacon...__ just got pricier. Consumer prices jumped 6.2% in October from last year, the largest spike in 31 years. TV prices were up 10%, bacon was up 20%, used cars rose 26%, and gas prices soared 50% (#PumpAnxiety). Stimulus cash triggered a fast rebound in consumer demand. But supply and labor bottlenecks are making it hard to *meet* demand, which drives up prices. If Americans keep *expecting* inflation to remain high, price tags could be steep even after the logjams ease. We’ll see if the Fed’s pullback on bond-buying helps cool the economy.

__Vax access expands...__ 900K kids got vaxxed last week after Covid shots were approved for US children, and __[Pfizer](https://robinhood.com/stocks/PFE)__ asked the FDA to approve boosters for *all* adults. __[Regeneron](https://robinhood.com/stocks/REGN)__ said its antibody drug reduced the risk of Covid by 82%, which could make it an option for immunocompromised people. But not everyone’s vax-cited: Trade groups representing __[UPS](https://robinhood.com/stocks/UPS)__, __[Disney](https://robinhood.com/stocks/DIS)__, and __[Fidelity](https://robinhood.com/stocks/FIS)__ say Biden’s plan to make any biz with 100+ workers require vaccination or testing by January is too expensive. And 24 states threatened to sue to block it.

The price is not ripe [Yuri_Arcurs/E+ via Getty Images]

Zoom Out

Stories we’re watching...

__Chip the Switch...__ Chip titan __[Nvidia](https://robinhood.com/stocks/NVDA)__ makes graphics cards for everything from laptops to gaming consoles, like the __[Nintendo](https://robinhood.com/stocks/NTDOY)__ Switch. Last quarter, Nvidia notched record sales, with nearly *half* coming from gaming. Now, Nvidia’s focused on growing AI and its data-center biz, which powers half the world’s servers and touts customers like __[Microsoft](https://robinhood.com/stocks/MSFT)__ and __[Amazon](https://robinhood.com/stocks/AMZN)__. Despite the (still happening) global chip shortage, investors hope Nvidia’s robust supply chain and demand for its cutting-edge tech will boost its earnings on Wednesday.

__Still waiting for my Halloween costume...__ US holiday spending is expected to reach a record $800B+ this season. That's good news for go-to retailers like __[Macy’s](https://robinhood.com/stocks/M)__, __[Walmart](https://robinhood.com/stocks/WMT)__, __[Target](https://robinhood.com/stocks/TGT)__, and __[Kohl's](https://robinhood.com/stocks/KSS)__, which all report earnings this week. Problem: national worker shortage. Last week, __Macy’s__ joined Walmart and Target in boosting its minimum wage to $15/hour and offering employee tuition benefits. Meanwhile, Kohl’s is offering sign-up bonuses of $100 to $400. But higher incentives = higher costs. We’ll see if that hits retailers’ bottom line. Macy’s expects holiday benefits to cost an additional $35M over the next four years. 

Events

Coming up this week...

The UN’s climate miss, inflation’s 31-year high, and more of today’s top Snacks stories

Last week's highlights...

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