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, […]
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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 […]
Intel chief plans to attend White House meeting on chip shortage
September 22, 2021 (Reuters) – Intel Corp Chief Executive Pat Gelsinger on Thursday plans to attend a virtual White House meeting on the global chip shortage, a person familiar with the matter told Reuters. Commerce Secretary Gina M. Raimondo set the meeting earlier this month to discuss the impact the Delta variant has had on […]
Tesla pushes U.S. to boost fuel economy penalties
September 22, 2021 By David Shepardson WASHINGTON (Reuters) – Tesla Inc is pressing President Joe Biden’s administration and a U.S. appeals court to move quickly to hike civil penalties for automakers failing to meet fuel economy requirements. Electric vehicle maker Tesla sells credits to other automakers to help them meet government vehicle emissions requirements, and […]
Restaurant-software maker Toast valued at nearly $33 billion as shares surge in debut
September 22, 2021 By Sohini Podder, Echo Wang and Krystal Hu (Reuters) -Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63%, underscoring a deep investor appetite for fast-growing software firms. The stock opened at $65.26, compared with […]
Carlyle CEO says firm is committed to China
September 22, 2021 By Chibuike Oguh NEW YORK (Reuters) – Carlyle Group Inc Chief Executive Kewsong Lee said on Wednesday that the U.S. private equity firm will remain a long-term investor in China despite “bumps” that have unnerved some investors. Beijing authorities have rolled out restrictions in the last few weeks on companies, including those […]
U.S. Senate confirms Batchelder for Treasury tax post
September 22, 2021 WASHINGTON (Reuters) – The U.S. Senate on Wednesday confirmed Lily Batchelder to serve as assistant secretary for tax policy at the Treasury Department, where she will play a big role in implementing tax changes sought by President Joe Biden and congressional Democrats. Batchelder won confirmation in a 64-34 vote, with 15 Republicans […]
U.S., Russian military chiefs meet in Helsinki for six hours
September 22, 2021 MOSCOW (Reuters) -The top U.S. military officers from United States and Russia held six hours of talks in Helsinki on Wednesday, in the first face-to-face meeting between them since 2019 as both nations adjust to the U.S. pullout and Taliban takeover in Afghanistan. General Mark Milley, chairman of the Joint Chiefs of […]
How European cloud infrastructure vendors lost market share while doubling revenue
Synergy Research released some seemingly paradoxical numbers from the European cloud market this week. The good news was that the firm found for the period beginning in 2017 through the second quarter of this year, the market grew fourfold, to €7.3 billion ($8.8 billion USD), while European cloud vendor revenue doubled. The bad news? Those […]
