ENVIRONMENT
Australia passes first major climate action reform since 2011
Australia has long been seen as a laggard on the international stage when it came to climate action, with large fossil fuel exports offset by the bare minimum of emission cuts.
BUSINESS
Government is going after fake, paid social media reviews
The government will soon announce a framework of regulations that target people paid to endorse merchandise, Rohit Kumar Singh, the most senior bureaucrat at India’s consumer affairs department, told reporters in New Delhi on Wednesday.
BUSINESS
Economic Anxiety shows up in Merriam-Webster’s latest dictionary additions
About once a year, Merriam-Webster adds new words to the dictionary. This September, 370 made it in.
BUSINESS
More People Are Spending Millions for Week-long Cruises on Luxury Superyachts
Bookings for superyachts through Fischer Travel Enterprises, where Fischer-Rosenthal is president, have spiked 20 per cent this year from already high levels in 2021, a trend also seen by other companies chartering out luxury vessels that can come with all the frills from Michelin-starred cuisine to cinemas and submarines.
ECONOMY
Oil slumps below $85 for first time since January on demand fear
US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90.
BUSINESS
Deutsche Bank CEO Christian sewing says Germany heading for recession
“We will no longer be able to avert a recession in Germany,” Sewing said during a speech in Frankfurt on Wednesday. “We believe that our economy is resilient enough to cope well with this recession -- provided the central banks act quickly and decisively now.”
BUSINESS
Dubai office rents are rising faster than in NYC and London
The rush for office space in the emirate is on show in skyscrapers like ICD Brookfield Place, which towers 928.5 feet (283 meters) over the financial district.
BUSINESS
Xi Jinping renews call for China tech push after US escalates curbs
Invoking the so-called “whole nation system” that propelled China’s space and nuclear weapons programs, Xi exhorted top officials to pool their resources and focus on breakthroughs critical to the country’s future.
BUSINESS
Sundar Pichai says Google ‘pro-competitive,’ sees vibrant tech market
Sundar Pichai made the remarks late Tuesday at the Code Conference in Los Angeles. He said the company is “pro-competitive” and named companies including Apple Inc. and Microsoft Corp. as competitors in the advertising business and TikTok as a rival in the video space.
BUSINESS
Here's what Asia's rich are betting on as global risks grow
People with more than $1 million of investable funds are repositioning toward private markets to shield their assets from market volatility, Lombard Odier’s 2022 study about high net-worth individuals in Asia Pacific found.
BUSINESS
Dhamaka duo brings fiery chicken, Indian groceries to Brooklyn
Chef and co-owner Chintan Pandya will serve foods from Kolkata, along with his take on under-the-radar specialties from across India.
BUSINESS
US lays out $50 billion chips plan, funds likely next spring
Smaller, simpler projects involving expansion of existing facilities will be the first to receive funds, followed by more complex projects for so-called leading-edge chips, which the US currently doesn’t produce but consumes more than 25% of global supply, Raimondo told reporters in Washington Tuesday.
BUSINESS
Aluminum stockpiles jump as demand slump leads to glut
Warehouse stockpiles tracked by the LME surged by 11% on Tuesday, the biggest increase since February, and rebounding from a three-decade low struck in August.
BUSINESS
A 120-year-old broker creates moon-landing metaverse for staff
Japan’s second-largest brokerage opened the virtual space this week for staff and their families, as part of its 120th-anniversary celebrations.
BUSINESS
Gautam Adani is searching for new group M&A chief
Vinod Bahety, who’s been helming Adani Enterprises Ltd.’s M&A activity, will move to a new business vertical and a formal announcement could come as soon as this month, the people said.
BUSINESS
Singapore hunts for global ‘Rainmakers’ with new expat visa
The introduction of the Overseas Networks and Expertise (ONE) pass last week as well as other steps that make it easier to hire expats are a response to the tight labor market, Tan said in an interview with Bloomberg Television’s Juliette Saly on Monday.
BUSINESS
Russia sanctions Ben Stiller, Sean Penn over Ukraine
The list, which also includes senators and analysts at think tanks, is “in response to the ever-expanding personal sanctions by the Biden Administration against Russian citizens,” the Foreign Ministry in Moscow said in a website statement.
ECONOMY
Truss earmarks £130 billion to keep UK energy bills below £2,000
Energy bills in the UK were due to jump 80 percent from October to £3,548 a year for the average household, forcing many poorer families to choose between heating their homes and other basics
BUSINESS
OPEC+ agrees to reduce production by 100,000 bbl/day in October
The group will reduce production by 100,000 barrels a day next month, taking supplies back to August levels
BUSINESS
EU to discuss gas-price caps, derivatives halt amid crisis
Gas prices surged more than 30% Monday after Russia’s decision late Friday by Gazprom PJSC to keep the crucial Nord Stream pipeline shut. The energy crisis is also under intense pressure, dropping below 99 US cents to its weakest level since 2002.
BUSINESS
Euro slides to lowest in two decades as Russia shuts off gas
European nations led by Germany announced measures over the weekend to tackle a cost-of-living crisis and spiraling energy prices after Russian state gas producer Gazprom PJSC Friday said it would indefinitely halt supplies through the Nord Stream pipeline.
BUSINESS
World’s first Covid vaccine you inhale is approved in China
China’s National Medical Products Administration approved CanSino’s Ad5-nCoV for emergency use as a booster vaccine, the company said in a statement to the Hong Kong Stock Exchange on Sunday.
BUSINESS
China’s BYD jumps to no. 2 in global electric-car battery market
The Chinese car and battery maker supplied 6.4 gigawatt-hours of batteries in July, behind only giant Contemporary Amperex Technology Co. with 13.3 GWh.
BUSINESS
Markets scream warning over new UK PM’s mammoth task
The pound, already down nearly 15% this year versus the dollar, just posted its worst monthly performance since the 2016 Brexit vote.
