News

September 22, 2021 UNITED NATIONS (Reuters) – Philippines President Rodrigo Duterte said on Tuesday that anyone found to have “acted beyond bounds” in his campaign against illegal drugs would be held accountable under national laws, while appearing to reject an International Criminal Court probe. Duterte told the United Nations General Assembly he had instructed the […]

September 22, 2021 OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, said on Wednesday it will support FedEx CEO Fred Smith’s $54 million pay package at a meeting of the logistics company’s shareholders next week. The pay of the billionaire chief executive has been challenged by a labour union over the […]

September 22, 2021 By Huw Jones LONDON (Reuters) – A review of how Britain’s listed companies spell out their chances of surviving found assessments had too little detail to properly inform investors, the auditing watchdog said on Wednesday. “Clear and comprehensive disclosures on these matters are particularly important given the backdrop of the COVID-19 pandemic which caused greater uncertainty for […]

September 22, 2021 A look at the day ahead from Dhara Ranasinghe. Relief is at hand for markets on Wednesday, after China’s Evergrande said it would make a domestic bond coupon payment. U.S. stock futures, the yuan and the risk-sensitive Australian dollar are riding high, while the safe-haven yen and U.S. Treasuries are on the […]

September 22, 2021 By Kirsty Needham SYDNEY (Reuters) – France should not have been surprised that Australia cancelled a submarine contract, as major concerns about delays, cost overruns and suitability had been aired officially and publicly for years, Australian politicians said. Paris has recalled its ambassadors from Canberra and Washington, saying it was blindsided by […]

Back in July, British “axial-flux” electric motor startup YASA was acquired by Mercedes-Benz for an undisclosed amount. YASA’s electric motors generated considerable EV industry interest because of their efficiency, high power density, small size and low weight. Indeed, Rolls-Royce, best known in aviation for its jet engines, employed YASA engines in its all-electric airplane “Spirit […]

Tag, a one-year-old startup that offers banking and financial services to users in Pakistan, has raised over $12 million in what is now the largest seed financing round in the South Asian market. Liberty City Ventures, Canaan Partners, Addition, Mantis and Banana Capital and others financed the round, which brings YC-backed Tag’s to-date raise to […]

September 22, 2021 STOCKHOLM (Reuters) – NENT, a Swedish company challenging streaming giants such as Netflix in the Nordics, said on Wednesday that it expected its organic sales growth in the coming years to scale the upper end of its target range. The Swedish media group said ahead of a presentation to investors and media […]

September 22, 2021 By Joanna Plucinska WARSAW (Reuters) – A European Union-funded project to build a genomic map of Poland plans to drop gene-sequencing technology from China’s BGI Group over concerns about data security, one of the project’s leaders told Reuters. The Genomic Map of Poland’s concerns stem from questions over how Polish genomic data […]

September 22, 2021 By Anushka Trivedi and Tom Westbrook SINGAPORE (Reuters) – Stocks found relief on Wednesday after teetering developer China Evergrande said it would be able to pay a coupon on one of its bonds, easing some market jitters, however, the Federal Reserve’s looming policy decision kept investors cautious. China fell on its first […]

September 22, 2021 NEW YORK/HONG KONG (Reuters) -China Evergrande Group’s main unit said on Wednesday it would make a coupon payment on its domestic bonds on Sept. 23, offering some relief to jittery markets that had been on edge over fears that a default of China’s No. 2 developer could ripple through the global financial […]

September 22, 2021 BEIJING (Reuters) -China’s northeastern city of Harbin, population 10 million, went into semi-shutdown after reporting new locally transmitted COVID-19 cases for the first time since early February. Three of 16 new local cases reported in China for Sept. 21 were in Harbin, the provincial capital of Heilongjiang, the National Health Commission (NHC) […]

September 22, 2021 (Reuters) – Britain’s Johanna Konta has pulled out of upcoming WTA events in Chicago and Indian Wells because of the groin injury that also forced her to skip the U.S. Open, British media reported. Konta withdrew from Wimbledon in June, a day before the Grand Slam got underway, when a member of […]

Kavak, a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced today that it has raised a massive $700 million in a Series E round that more than doubles the company’s valuation to $8.7 billion. This news is notable for a few reasons. For one, it’s a staggering sum for any […]

ZestMoney, a Bangalore-based buy now, pay later platform, said on Wednesday it has raised $50 million in a new financing round from Australia’s Zip as the Indian firm looks to cash in on a trend that is showing wider traction in several global markets. The eight-year-old Australian firm, which has a presence in 12 markets […]

September 22, 2021 (Reuters) – Denver Broncos linebacker Bradley Chubb will have arthroscopic surgery on his left ankle on Wednesday to remove a bone spur he has been managing for the past three weeks, the National Football League (NFL) team said. Chubb, who missed his team’s Week 1 clash with New York Giants, left their […]

September 22, 2021 By David Randall NEW YORK (Reuters) – Fund giant BlackRock and investment banks HSBC and UBS were among the largest buyers of the debt of embattled Chinese real estate developer Evergrande Inc, Morningstar data shows. BlackRock added 31.3 million notes of Evergrande’s debt between January and August 2021, pushing its stake in […]

September 22, 2021 By Marcelo Teixeira NEW YORK (Reuters) – Farmer David Armstrong recently finished planting what is likely the most challenging crop his family has ever cultivated since his ancestors started farming in 1865 – 20,000 coffee trees. Except Armstrong is not in the tropics of Central America – he is in Ventura, California, […]

September 22, 2021 By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve is expected to clear the way on Wednesday for reductions to its monthly asset purchases later this year and show in updated projections whether higher-than-expected inflation or a resurgent coronavirus pandemic is weighing more on the economic outlook. Fed policymakers, who are wrapping […]

September 22, 2021 By Cassandra Garrison MEXICO CITY (Reuters) – Mexican used-car platform Kavak said it has more than doubled its valuation to $8.7 billion based on its latest funding round, making it the second-most valuable startup in Latin America as it eyes further expansion beyond its home market. Kavak’s chief executive, Carlos Garcia, told […]