GEN

Global pensions with $3 trillion on books fear stagflation -survey

LONDON, Dec 6 (Reuters) – Global public pension schemes and sovereign wealth funds managing more than $3 trillion in assets fear a combination of economic slowdown and higher inflation in the next 12-24 months, a survey showed on Tuesday. The investors face huge challenges in switching their portfolios to cope, according to think tank OMFIF, …

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Global lenders eye coordinated assistance for Sri Lanka – government

COLOMBO, Dec 6 (Reuters) – Global lenders including the World Bank, the Asian Development Bank and the IMF are planning coordinated assistance to help Sri Lanka recover from its economic crisis, the government said on Tuesday. The island of 22 million people is in the midst of its worst financial crisis in more than seven …

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Explainer: Why the US Inflation Reduction Act has Europe up in arms

PARIS, Dec 5 (Reuters) – Top European Union officials will use a trade meeting with US counterparts on Monday to press concerns about Washington’s huge new green energy subsidy package. While EU countries welcome the new commitment to energy transition, they fear the $430 billion Inflation Reduction Act (IRA) will unfairly disadvantage their companies relative …

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Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov – sources

SHANGHAI, Dec 5 (Reuters) – Tesla (TSLA.O) plans to cut December output of the Model Y at its Shanghai plant by more than 20% from the previous month, two people with knowledge of the electric vehicle (EV) giant’s production plan said. said on Monday. Tesla did not immediately respond to a request for comment on …

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BP doubles down on hydrogen as fuel of the future

BP sees fast growth in low-carbon hydrogen Fuel to benefit from government subsidies CEO Looney to announce hydrogen production targets BP plans big hydrogen project at Whiting, Indiana refinery LONDON, Dec 5 (Reuters) – BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump …

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Bankman-Fried says he will testify before the US House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The US House Financial Services Committee plans to hold a hearing in December to investigate the …

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Apple and Amazon resume advertising on Twitter, reports say

Dec 3 (Reuters) – Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon …

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Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source

TAIPEI, Dec 5 (Reuters) – Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest disrupted the world’s biggest iPhone factory. The Zhengzhou plant has been grappling with strict COVID-19 restrictions that have fueled discontent …

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Brazil soccer legend Pele says he remains ‘strong’ amid cancer battle

SAO PAULO, Dec 3 (Reuters) – Brazilian soccer great Pele said on Saturday he was “strong” and grateful for the widespread support he has been receiving after being hospitalized in Sao Paulo earlier this week as he battles colon cancer. The 82-year-old said in an Instagram post that he wanted to keep “everyone calm and …

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Amgen says experimental obesity drug has promising durability

LOS ANGELES, Dec 3 (Reuters) – Amgen Inc’s ( AMGN.O ) experimental obesity drug demonstrated promising durability trends in an early trial, paving the way for a larger mid-stage study early next year, company officials said ahead of a data presentation. on Saturday. The small Phase I trial found that patients maintained their weight loss …

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