Rivian Automotive Inc, funded by Amazon.com Inc, is aiming for a value of more than $53 billion for its U.S. debut, putting the electric car maker on par with competitor Honda Motor. The business is aiming to raise up to… Read More ›
Creativity
Federal Aviation Administration issues special bulletin on interference of 5G with aircraft avionics
In a statement the Federal Aviation Administration said, it had issued a special information bulletin alerting operators, manufacturers, and pilots that action may be required to address potential interference issues from the usage of 5G telecommunications technology from sensitive aircraft electronics. With… Read More ›
Will strengthen personal data protection in fintech sector: PBOC Governor
In a statement on Wednesday, Yi Gang, the Governor of China’s central bank, the People’s Bank of China, said, Beijing will strengthen personal protections in the financial technology sector to curb unauthorised data collection and abuses. Beijing aims to provide… Read More ›
$100 billion climate financing pledge by developed countries inches closer after Japan’s $10 billion commitment
In a statement US climate envoy John Kerry said, developed countries have pledged a total of $100 billion towards climate financing following new commitments made by Japan. In 2009 developed countries had pledged to provide $100 billion by 2020 to… Read More ›
Congress should build regulatory regime for stablecoins: President’s Working Group on Financial Markets
In a significant development a U.S. Treasury Department-led regulatory body has called on the US Congress to regulate issuers of “stablecoins” saying like other financial institutions these fast-growing digital assets should be monitored before they pose any systemic risk in… Read More ›
Ethiopia may lose duty free exports status to the US following widespread human rights abuses
With the United States weighing options which include suspending Ethiopia’s duty-free market status, citing abuses and a growing famine in the war-torn Tigray region, thousands of Ethiopians, whose income depend on the export of shawls stitched by them are at… Read More ›
Taliban fighting losing battle to keep Afghanistan’s economy running
With Afghanistan facing a severe cash crunch, migration crisis and mass starvation, the Taliban government is pressing for the release of billions of dollars from its central bank reserves. Afghanistan has parked billions of dollars in assets overseas with central… Read More ›
SK Hynix to acquire Key Foundry for $492.41M
In a statement on Friday, SK Hynix Inc, the world’s second-largest memory chip said, it will acquire South Korea-based Key Foundry for $492.41 million (576 billion won). Key Foundry’s 8-inch wafer foundry manufactures chips for power management, display driver and… Read More ›
Ford to suspend production at Mexico plant due to material shortages
In a statement, Ford Motor Co said, it will suspend production at its Hermosillo plant in northern Mexico from November 1 to November 5 because of material shortages.
Commonwealth Bank of Australia pleads guilty to 30 criminal charges
On Friday, in a statement the Australian Securities and Investments Commission (ASIC) said, the Commonwealth Bank of Australia, the country’s largest lender has pleaded guilty to 30 criminal charges for mis-selling consumer credit insurance between 2011 and 2015. The scrutiny… Read More ›
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