September 23, 2021 BEIJING (Reuters) – China should abandon a top-level strategy promoted by President Xi Jinping to increase self-reliance, or risk harming innovation and growth prospects, said a European business group on Thursday. “There are troubling signs that China is increasingly turning inwards … and this tendency is casting considerable doubts over the country’s […]
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HSBC CEO sees market impact from Evergrande debt woes
September 23, 2021 SINGAPORE (Reuters) – HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the bank, its group CEO said. “I’d be naive to think that the turmoil in the market doesn’t have the […]
Evergrande’s second-biggest shareholder plans to sell entire stake
September 23, 2021 HONG KONG (Reuters) – Chinese Estates Holdings, the second-biggest shareholder of embattled developer China Evergrande, said on Thursday it has sold $32 million worth of its Evergrande stake and plans to exit the holding completely. Chinese Estates, which owned about 6.50% of Evergrande’s equity capital as of Sept. 10 according to Refinitiv […]
The whole package: How plastics and sustainability startups achieve success
The amount of plastic pouring into our oceans is set to triple by 2040, and the bulk of the un-recycled plastic in the world is generated by an enormous industry: consumer packaged goods (CPG). The world is rife with waste from such goods, but as people become more aware and look to minimize the waste […]
Here are the 5 Startup Battlefield finalists at Disrupt 2021
Over the last two days, 20 companies took the stage in TechCrunch’s Startup Battlefield in a bid to win $100,000 and the Startup Battlefield cup. They had six minutes to present their pitch decks and answered six minutes of questions from noted investors and executives. The judges and TechCrunch editors evaluated the companies and selected […]
Exxon, Chevron conceal payments to some governments -watchdog
September 23, 2021 By Timothy Gardner WASHINGTON (Reuters) -U.S. oil majors Exxon Mobil Corp and Chevron Corp have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly disclose […]
Melbourne faces more anti-lockdown protests as daily cases hit pandemic high
September 23, 2021 By Renju Jose SYDNEY (Reuters) – Police in Australia’s second-largest city of Melbourne prepared for a fourth day of anti-lockdown protests on Thursday after more than 200 arrests a day earlier, while COVID-19 cases across the state of Victoria hit a daily record. Hundreds of protesters have taken to the streets in […]
Amid U.S. border crackdown, some Haitian migrants seek asylum in Mexico
September 23, 2021 By Josue Gonzalez and Jorge Lopez MEXICO CITY (Reuters) – Hundreds of Haitian asylum seekers congregated outside Mexico’s refugee agency in the capital and in shelters in the northern city of Monterrey on Wednesday, as migrants deterred by a crackdown at the U.S. border sought legal status in Mexico. Nearly 10,000 migrants, […]
U.S. Treasury’s Yellen tells Irish finance minister tax deal is a generational opportunity
September 23, 2021 WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen urged Irish Finance Minister Paschal Donohoe on Wednesday to take a “once in a generation opportunity” for a global tax deal that stops a race to the bottom on corporate tax rates, the Treasury said in a statement. Treasury said during their call, Yellen […]
Impossible Foods to roll out meatless pork in HK, Singapore, U.S.
September 23, 2021 HONG KONG (Reuters) – Impossible Foods is rolling out its meatless pork product in Hong Kong in October and Singapore later in the year as it tries to bolster its footprint in the fast-growing plant-based food space. The California-based company said the ground minced pork substitute would be available in 120 restaurants […]
China’s Evergrande faces key deadline, investors await outcome
September 23, 2021 HONG KONG/NEW YORK (Reuters) – China’s embattled property developer Evergrande faced a Thursday deadline to pay interest on one of its dollar bonds, in a crucial moment for global investors worried that its malaise could spread beyond the country’s property sector. Global markets reacted with relief on Wednesday when the People’s Bank […]
India’s Oyo to file for $1 billion IPO
Indian budget hotel chain startup Oyo is looking to file for an initial public offering as soon as next week, people familiar with the matter told TechCrunch, joining a handful of firms in the world’s second largest market that are working to explore the public markets. The seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is […]
SEC Regional Director Erin Schneider talks SPACs, Coinbase, and what startups could do better
If startups were looking for more specifics about crypto lending, new rules by which blank-check companies might have to abide, or whether the SEC views NFTs (non-fungible tokens) as securities, they didn’t get any this week from Erin Schneider, the regional director of the SEC’s powerful San Francisco office. While speaking at TechCrunch Disrupt 2021, […]
ARK’s Cathie Wood says Wall Street not in a bubble
September 22, 2021 By Noel Randewich (Reuters) – Star stock picker Cathie Wood, head of ARK Invest, on Wednesday said she believed the U.S. stock market is not overvalued, and she talked up Tesla, her largest holding. “We are not in a bubble, that I know,” Wood said, speaking virtually at a Morningstar investment conference. […]
Citi blocked PDVSA attempt to pay Siemens, executive says at trial
September 22, 2021 By Luc Cohen NEW YORK (Reuters) – Citigroup Inc blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for the payments. In a bench trial that began on Tuesday […]
Citi blocked PDVSA attempt to pay Siemens, executive says at trial
September 22, 2021 By Luc Cohen NEW YORK (Reuters) – Citigroup Inc blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for the payments. In a bench trial that began on Tuesday […]
Debt Limit Q&A
Democrats and Republicans are once again in a standoff over a looming debt limit crisis. Congress must raise or suspend the limit on federal borrowing soon or the U.S. government won’t be able to pay its bills. Here we provide the facts on the political dispute. What is the debt limit? The debt limit is a cap […]
Brazil raises interest rates, signals third big hike next month
September 22, 2021 BRASILIA (Reuters) – Brazil’s central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world’s most aggressive monetary tightening. The bank’s rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate […]
Bank of England expected to keep rates steady as inflation risks mount
September 22, 2021 By David Milliken LONDON (Reuters) – Britain’s central bank looks set to keep interest rates steady later on Thursday as it approaches the end-point of its 895 billion pound ($1.22 trillion) asset purchase programme and casts a wary eye over surging inflation pressures. Investors will be keen to see if more Monetary […]
Exclusive-Biden administration mulls big cuts to biofuel mandates in win for oil industry -document
September 22, 2021 By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) -The administration of U.S. President Joe Biden is considering big cuts to the nation’s biofuel blending requirements, according to a document seen by Reuters, a move triggered by a broad decline in gasoline demand during the coronavirus pandemic. If adopted, the proposal would […]
