According to two sources familiar with the matter at hand, Blackstone Group is committing $150 million in start-up capital to a hedge fund that is run by a former senior executive at Lone Star Funds. According to one of the… Read More ›
Entrepreneurship
South Korea unveils plan to build world’s largest offshore wind farm for $43 billion
In a significant development, South Korea has unveiled a plan to build the world’s largest wind power plant by 2030 at a cost of $43.2 billion (48.5 trillion won) as part of broader efforts to foster an sustainable-friendly economic recovery… Read More ›
UK expelled 3 Chinese spies posing as journalists
According to a report from The Telegraph newspaper, in 2020 the United Kingdom expelled three Chinese spies who were in the country on journalism visas. Citing a UK government source, the report said the three expelled Chinese spies were intelligence… Read More ›
Britain’s clips China’s soft power: revokes CGTN’s license to operate within the country
In a statement on Friday, China’s foreign ministry said, it is “firmly opposed” to Britain’s decision to revoke the license for its state media CGTN to operate within the country. The development comes in the wake of the UK’s communications… Read More ›
PayPal shutters domestic payment business in India
In a statement on Friday, PayPal Holdings Inc said, from April 1, 2021, it will close down its domestic payments business in India. It will continue to focus on its cross-border payments business, which enables global customers to pay Indian… Read More ›
Consulting firm McKinsey & Co agrees to settle lawsuits over opiod crisis role claims with $573 million
According to a source familiar with the matter at hand, McKinsey & Co, a consulting firm, has agreed to pay $573 million to resolve claims with 43 U.S. states related to its role in the opioid epidemic and advice it… Read More ›
Bidden Administration reverses Trump Administration’s energy policy: set to restart permission for first major offshore wind farm
In a significant development that sees a reversal of U.S. energy policy, the Biden Administration stated it would restart permitting for the first major U.S. offshore wind farm. The development reverses a Trump administration decision that canceled the process in… Read More ›
British lender NatWest switches to Mastercard debit cards from Visa
British lender NatWest is the latest UK retail and commercial bank to switch to issuing Mastercard debit cards from Visa, in an agreement that includes 16 million consumer and business customer cards. The development sees Mastercard, which has since long… Read More ›
Toyota Motor Corp to build record 9.2M automobiles in 2021
In a report Japan’s the Nikkei newspaper said, Toyota Motor Corp plans on boosting its global production to record high at 9.2 million vehicles in 2021. The automaker has informed its main suppliers of the plan, which reflects sales momentum… Read More ›
India’s Target Of Selling Of State-Owned Firms Will Push Economy Closer To $5 Trillion, Say Analysts
According to a top Indian business leader, the Indian economy will inch closer to becoming a $5 trillion economy because of the efforts to privatize state-owned companies. According to the target set by the country’s Finance Minister Nirmala Sitharaman in… Read More ›
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