Join the Wall Street Journal online October 12th for WSJ Pro Sustainable Business Forum

and take away practical advice on how to build a sustainability strategy that's right for your

business. From now until September 21st, you can save 25% on your ticket by registering at

WSJ.com slash sustainable business. No code required. That's WSJ.com slash sustainable business.

Target's profit takes a hit due to backlash over its pride month promotion and a test case for a new

market for clean energy financing plus the economic cost of more frequent extreme weather events.

Because we're in a world of sort of like more tightly wound supply chains and protectionism

where it seems like the small shock can throw supply chains into a tizzy, it's not hard to imagine

that there is a greater risk that one of these severe events has a much broader impact.

It's Wednesday, August 16th. I'm Ann Marie for Tolley for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

The yield on the 10-year U.S. Treasury note has hit a 15-year high, raising the threat of higher

costs for borrowers. The 10-year yield has been climbing for weeks due to a run of strong economic

data and it's settled today at 4.258% according to TradeWeb. It's highest close since June 2008.

The rise in yields is worrisome to investors because past surges have been destabilizing for markets.

It's also raising concerns on Wall Street about the potential fallout for the stock, bond and

housing markets. Mortgage rates are closely linked to the 10-year yield and the average

rate on a standard 30-year fixed mortgage has climbed to nearly 7% up from about 5% a year ago.

Target is the latest retailer to suffer financial consequences after waiting into divisive

social issues. The company said today that comparable sales fell 5.4% last quarter

due in part to shopper backlash over its Pride Month collection. It also said it expects sales

to fall again in the current quarter and it lowered its profit goal for the full year.

...