Author Archives
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Collapse of global tax treaties could impose $100 billion in costs: Organisation for Economic Co-operation and Development
On Monday, the Organisation for Economic Co-operation and Development said, the global economy could see a drop of more than 1% in output if international talks to rewrite cross-border tax treaties break down and trigger a trade war. On Friday,… Read More ›
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Sean Doyle appointed as CEO of British Airways
On Monday, Luis Gallego, who took the helm at IAG last month, appointed Sean Doyle as the CEO of British Airways. Doyle will be replacing Alex Cruz with immediate effect. The development marks a number of management changes in the… Read More ›
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Standard Chartered’s Hong Kong unit approved to set up brokerage unit in Mainland China
On Monday, China’s state backed news agency Xinhua reported, the Hong Kong branch of Standard Chartered has applied for a brokerage license in mainland China. The application was accepted by the China Securities Regulatory Commission (CSRC) on October 10. Standard… Read More ›
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China’s financial network and tech supply chain vulnerable to U.S. pressure: PBOC Vice Governor
On Monday, in a report, a magazine by the China’s central bank, Fan Yifei, a vice governor of the People’s Bank of China (PBOC) said, China’s financial network as well as its technology supply chain faces a huge risk from… Read More ›
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HSBC targets net zero carbon emissions by 2050, flags $1 trillion towards green financing
In a significant development, Europe’s biggest lender HSBC said, it aims to target net zero carbon emissions across its entire customer base by 2050 at the latest; it will provide financing in the range of $750 billion to $1 trillion… Read More ›
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JPMorgan pledges $30 billion to address divide in racial wealth
In a significant development, JPMorgan Chase & Co stated it has decided to commit $30 billion to address racial inequality over the next 5 years. The development marks the largest corporate pledge to bring down racial tensions in the United… Read More ›
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ING cuts lending to carbon emitting companies, aligns financing with 2015 Paris climate agreement
On Thursday, in a significant development that will see the renewable energy industry receive a financial boost, Dutch lender ING stated, it has taken steps to significantly cut on lending to carbon emitting companies in the power industry over the… Read More ›
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Washington likely to impose sanctions on Iran’s financial sector
According to a Republican congressional aide briefed on the matter at hand, the United States plans on imposing fresh sanctions on Iran’s financial industry. The development comes ahead of a key U.S. election. The move is likely to shut out… Read More ›
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Argentina becomes the first country to approve GMO wheat
Argentina has approved a strain of drought-resistant GMO wheat, developed by biotechnology firm Bioceres SA, making it the first country in the world to approve of GMO wheat. So far no country has given approved the imports of GMO products;… Read More ›
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Global coronavirus could end in July 2020
In a report the Financial Times has stated citing a memo, AstraZeneca could start profiting from its COVID-19 vaccine as early as July 2021; the British drugmaker can thus essentially declare when the global pandemic can essentially end. London listed… Read More ›
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