Author: Press Room
An array of US clean energy investments are being delayed or cancelled a year after Washington passed a landmark climate law, threatening to hold back the Biden administration’s emissions targets. The Inflation Reduction Act signed by President Joe Biden in August 2022 featured $370bn to swiftly decarbonise the world’s largest economy, including billions of dollars in new, expanded or extended tax credits for low-emissions technologies.But in recent weeks companies behind several high-profile investments supported by the subsidies have scrapped or hit the brakes on their plans. This week Ørsted, the world’s largest offshore wind energy developer, abandoned two projects designed to deliver…
Chinese banking officials, including Zhang Hongli, the former vice president of ICBC, are currently under investigation as part of President Xi Jinping’s extensive anti-corruption campaign. The Central Commission for Discipline Inspection is investigating Hongli for serious disciplinary and legal violations, as revealed on Saturday. In addition to Hongli, other high-profile figures in the financial sector have also come under scrutiny. Liu Lian’ge, the former chairperson of the Bank of China, was arrested on bribery and illegal loan granting charges. Similarly, Li Xiaopeng, ex-leader of Everbright Group, was expelled from the Communist Party and public service for a range of misconducts.…
© Reuters. Indian supply chain services provider Delhivery reported a net loss of INR 102.9 Cr ($1.37m) in Q2 FY24, a decrease of 59.5% YoY and an increase of 15% QoQ. Despite the delayed festive season sales, the company saw revenue growth in several areas. Express parcel shipment volumes and revenue grew by 12% and 8% YoY respectively, reaching over 70 million daily volumes. Meanwhile, Part Truck Load (PTL) volumes rose by 22% YoY, generating INR 373 Cr ($4.96m) in revenue, a 28% YoY increase. The company’s truckload business also experienced robust growth with revenues increasing by 46% YoY and…
Warning: RGR is at high risk of cutting its dividend
Abortion has emerged as a defining fault line of this year’s elections, with consequential contests in several states on Tuesday offering fresh tests of the issue’s political potency nearly 18 months after the Supreme Court ended a federal right to an abortion.The decision overturning Roe v. Wade scrambled American politics in 2022, transforming a longstanding social conflict into an electoral battering ram that helped drive Democrats to critical victories in the midterm races. Now, as abortion restrictions and bans in red states have become reality, the issue is again on the ballot, both explicitly and implicitly, in races across the…
Two Russian soldiers are being investigated for murdering a Ukrainian family. Reports say that they had a dispute over the soldiers demanding moonshine liquor. Throughout the conflict there have been multiple reports of Russian soldiers heavily consuming alcohol. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Two Russian soldiers are being investigated for killing a Ukrainian family, possibly in revenge for not giving them moonshine, according to reports.Russian authorities detained two servicemen under suspicion of murdering nine people, including two children, in occupied Donetsk,…
At Rishi Sunak’s summit on artificial intelligence this week, one delegate said the British Prime Minister had scored a “diplomatic coup” by getting US and Chinese officials to stand together on the need to control AI.Amid heightened trade and technological tensions between Washington and Beijing, the Chinese delegate Dr Wu Zhaohui surprised some at the two-day event at Bletchley Park, England by agreeing that they were united by the common values of “democracy” and “freedom” in the fight against the malicious uses of AI. Broad commitments from 28 nations to work together to tackle the existential risks stemming from advanced AI…
© Reuters. Goldman Sachs, a leading investment bank, is hopeful for a potential market recovery following a significant downturn in the Initial Public Offering (IPO) market in 2022. The firm’s CEO, David Solomon, expressed this optimism during an earnings call. This comes after the company’s stock price fell by 28%, a stark contrast to the record-breaking performance of 2021. In 2021, the IPO market experienced an unprecedented boom, with investment banks facilitating 1,033 new listings and public firms securing $286 billion. This surge led to historic earnings across Wall Street and substantial profits for Goldman Sachs, JPMorgan Chase (NYSE:), and…
Warning: FGBI is at high risk of cutting its dividend
New York Rep. Ritchie Torres, a Democrat, said he mistakenly voted against a resolution condemning Hamas supporters on college campuses amid the war between Israeli forces and Hamas terrorists.House lawmakers approved a resolution Thursday condemning college students’ support of Hamas, Hezbollah and other terrorist groups by a 396 to 23 vote.”As a visible and vocal advocate against antisemitism on college campuses, especially in the wake of October 7th, I have submitted a correction for the record,” Torres wrote Thursday on X, the platform formerly known as Twitter.”I have no use for pro-Hamas protestors, and I despise them with every fiber…