New Jersey Democrats Approve Bill to Punish Towns Fighting Affordable Housing By Withholding State Grants and Financial Aid
NJ lawmakers give housing-compliant towns first shot at state grants Trenton, NJ – New Jersey’s Democrat lawmakers are making their point clear to municipalities across the state: build high density affordable housing,…
CIBC’s C$125 million settlement of financial crisis lawsuit gets court approval
– Canadian Imperial Bank of Commerce has received approval from an Ontario court of a C$125 million ($98 million) settlement to resolve claims in a class-action lawsuit alleging misrepresentations made by the…
Fleetscape probing possible Iran oil transfer to ship it finances
By Jonathan Saul LONDON – UK-based maritime company Fleetscape is investigating the possible transfer of Iranian oil to a tanker it finances, the Oaktree Capital Management-backed firm said after allegations by a…
doValue says bids due next week for 5 billion euro Greek bad loan portfolio
MILAN -Non-binding offers for a non-performing loan (NPL) portfolio worth around 5 billion euros ($5.7 billion) put on the block by Greece’s bad bank liquidator PQH are due next week, Italy’s biggest…
India plans to produce 5 million tonnes of green hydrogen by 2030
By Sudarshan Varadhan NEW DELHI – (This February 17 story corrects first line to say five million tonnes per annum, not cumulative) India plans to manufacture five million tonnes of green hydrogen…
Slovak current account shows 831 million euro deficit in December
PRAGUE – Slovakia’s current account hit a deficit of 831 million euros ($944.85 million) in December after a revised gap of 122 million euros in November, the central bank said on Friday.…
Thai property sector recovery delayed amid Omicron -state loan agency
BANGKOK – Thailand’s property market may not return to pre-pandemic levels until 2024, due to a slower-than-expected economic recovery amid a new coronavirus outbreak and higher inflation, the research unit of a…
Fund managers predict volatile first half for risk assets
By Divya Chowdhury MUMBAI – Uncertainty over the pace of monetary policy will mean a volatile first half for risk assets followed by an upward path for equities in the second half…
British warehousing firm Segro rides surge in demand for quick delivery
-British warehousing firm Segro said on Friday the growing popularity of rapid delivery services is fuelling strong demand across its markets after it reported a 20% jump in annual profit, sending its…
China Orient Asset Management gets approval to issue bonds to resolve risks in property sector
SHANGHAI – China Orient Asset Management said on Friday it was approved to issue up to 10 billion yuan bonds in China’s interbank bond market to resolve risks in the property sector.…
Chinese cities ease home purchase down-payments to reignite demand
BEIJING -A handful of Chinese cities are starting to relax down-payment rules for home purchases in a bid to re-ignite buyer interest and put a floor under local economies weakened by a…
U.S. authorities sue Infinity Q Capital Management, alleging fraud
By Michelle Price and Katanga Johnson WASHINGTON -U.S. authorities filed criminal and civil charges against the founder and former chief investment officer of investment adviser Infinity Q Capital Management LLC, alleging he…
Bayer rolls out short corn variety tolerant of weather extremes
By Karl Plume – Global farm chemicals and seeds maker Bayer will launch a corn variety in the United States next year that it says will better tolerate heavy winds associated with…
Biden Admin Investigating 416,000 Tesla Vehicles For Brake Problems
The National Highway Traffic Safety Administration (NHTSA) is investigating over 400,000 Tesla vehicles for unexpected brake activation following a series of recalls by the electric car company. The investigation stems from 354…
Factbox-Russian gas pipeline exports to Europe
– Europe’s gas market remains volatile amid tensions between Moscow and the West over Ukraine, a key route for Russian gas, as Gazprom, source for 40% of Europe’s needs, sends gas under…
Private equity’s latest play: the troubled kids industry
By Michelle Conlin NEW YORK -Private equity firms are increasingly investing in behavioral services for troubled youth, according to a new report released on Thursday by the nonprofit Private Equity Stakeholder Project.…
Cryptocurrency firm Circle doubles valuation to $9 billion in tweaked SPAC deal
-Cryptocurrency operator Circle Internet Financial said on Thursday it was valued at $9 billion under new deal terms with Concord Acquisition Corp, a blank-check firm backed by former Barclays boss Bob Diamond.…
Italy makes fresh attempt at pension reform as debt worries mount
By Giuseppe Fonte and Gavin Jones ROME – Italy is working on a reform to make it easier for workers to retire early without bloating what is already Europe’s second highest pensions…
Adidas says will grow in China in 2022
BERLIN – German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath…
Russian lender TCS picks payments firm BPC for Philippines expansion
MOSCOW -TCS Group Holding, which runs Russia’s largest online bank, Tinkoff, will partner with payment solutions provider BPC in the Philippines as it pushes ahead with expansion into Asian markets, the two…
U.S. investigates 416,000 Tesla vehicles over unexpected braking reports
By David Shepardson WASHINGTON -The National Highway Traffic Safety Administration (NHTSA) said Thursday it is opening a formal investigation into 416,000 Tesla vehicles over reports of unexpected brake activation tied to its…
What could drive the Fed to a ‘Plan B’ for balance sheet reduction
By Jonnelle Marte and Howard Schneider – Amid a strong U.S. housing market, low interest rates and unnervingly high inflation, the Federal Reserve has been adding to its bond portfolio even to…
U.S. antitrust enforcer, FBI announce effort to deter, identify collusion
WASHINGTON – The U.S. Justice Department’s Antitrust Division and the FBI announced an initiative on Thursday to detect and prosecute companies that take advantage of supply chain disruptions to collude with rivals…
French insurer CNP to stop financing new oil and gas projects
By Simon Jessop LONDON – France’s CNP Assurances will no longer finance new oil and gas projects or invest more money in companies planning to do so, joining the growing ranks of…
ECB’s De Cos says withdrawal of stimulus scheme should be data-dependent, gradual
MADRID – European Central Bank policymaker Pablo Hernandez de Cos on Thursday said that any premature tightening of monetary policy would only hurt the economy and stimulus should be withdrawn gradually. “The…
In China’s Zhejiang, college grads showered with loans to start businesses
BEIJING – Enterprising Chinese college graduates will be able to borrow up to half a million yuan ($78,900) in the wealthy province of Zhejiang to start a business, and if it goes…
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