In a statement, Ursula von der Leyen, the President of the European Commission said, the European Union is looking for ways to use frozen assets of Russian oligarchs to fund the reconstruction of Ukraine after the war. On Wednesday, the… Read More ›
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Boris Johnson and Amazon’s founder Jeff Bezos agreed to work together to fight climate change
In a statement, the office of British Prime Minister Boris Johnson said, he has discussed issues of taxation with Amazon’s founder Jeff Bezos in New York. “The prime minister raised the issue of taxation, and hoped progress could be [made] in… Read More ›
BlackRock’s China mutual fund subsidiary raises $1.03 billion
In a first, BlackRock’s mutual fund subsidiary in China established a fund after raising $1.03 billion (6.68 billion yuan) in a shortened subscription period. With this development BlackRock has become the first foreign asset manager to operate a wholly-owned business in… Read More ›
PBOC injects $7.71 billion into banking system, biggest ever since February 2021
China’s central bank The People’s Bank of China (PBOC) has increased its short-term fund injection this week to meet higher cash demand that typically ensues towards the month-end. In a statement PBOC said it has offered $7.71 billion (50 billion… Read More ›
U.S. investment powerhouse KKR closes Asia Pacific infrastructure fund at $3.9 billion
On Monday, KKR & Co, a U.S.-based investment powerhouse stated, it has closed a fund targeting infrastructure-related investments in Asia Pacific at $3.9 billion. In a press release KKR said, the fund was its first in the region for the… Read More ›
Lufthansa in advanced talks for $9.9 billion rescue package with state government
On Thursday, German airline Lufthansa stated, it is in advanced talks with the German government’s economic stabilization fund over a rescue deal worth up to $9.9 billion (9 billion euros); the deal potentially includes the German state taking a 20%… Read More ›
U.S. response to coronavirus – payroll tax cuts, extension of tax deadline on the table: U.S. Senate Finance Committee Chairman Chuck Grassley
With WHO finally classifying China’s coronavirus as pandemic, U.S. Senate Finance Committee Chairman Chuck Grassley stated, a payroll tax cut was among the options being tabled to offset the economic impact of the coronavirus. “If you’re going to negotiate in… Read More ›
Jezz Bezoz sells 990 million Amazon.com Inc’s shares, makes $2.8 billion
Jeff Bezoz had earlier stated, he would be selling stock every year to fund Blue Origin. As of last Friday, Amazon.com Inc’s Chief Executive Officer Jeff Bezos has sold $990 million worth of shares in the company and made a… Read More ›
PG&E Corp asks court approval for setting up $105 million wildfires victims fund
PG&E Corp is of the opinion that authorities are likely to conclude that the November forest fire, California’s most destructive and deadliest fire of modern times, was sparked by its equipment. In a filing in U.S. Bankruptcy Court in San… Read More ›
Intesa Sanpaolo eyeing to sell $11 billion in impaired loans
Intesa Sanpaolo is Italy’s biggest retail bank. On Thursday, as per a source familiar with the matter at hand stated, Intesa Sanpaolo, Italy’s biggest retail bank, is holding talks with a unit of U.S. fund Davidson Kempner for selling $11… Read More ›
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