Analysis: Debt in a warm climate: coronavirus and carbon set scene for default
Where COVID-19 has precipitated unprecedented debts, climate change could trigger defaults across a planet which a United Nations panel says is dangerously close to runaway warming.
Kuwait’s economic makeover under threat as small businesses fight for life
Thousands of small and medium Kuwaiti businesses could go to the wall after being walloped by the pandemic, potentially torpedoing a private sector central to the country’s efforts to remake its unorthodox and oil-pumped economy.
Analysis: Extreme weather sounds alarm for under-insured China
Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country.
Asian shares fall as Delta fears eclipse Wall Street uptick
Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support.
Oil prices drop as IEA warns of slowdown in demand recovery
Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.
Payments company Marqeta beats revenue estimates as transactions surge
Payments company Marqeta Inc (MQ.O) reported a 76% jump in second-quarter revenue on Wednesday that beat market estimates, as the company benefited from a surge in transactions made through its platform.
Australia’s NAB posts 10.3% rise in cash profit, upbeat on outlook
National Australia Bank Ltd (NAB.AX), the country’s No. 3 lender, said on Thursday its third-quarter cash profit rose 10.3% as it was able to move funds set aside for potential COVID-19 losses back into profit.
U.S. Justice Dept says tweaks to debit-card rule good for competition, consumers
The U.S. Justice Department on Wednesday threw its weight behind a proposed rule change that would require banks and other debit card issuers to provide multiple network options to merchants to route online purchases.
EXCLUSIVE China’s tech crackdown thwarts Pony.ai’s U.S. listing plans -sources
Autonomous driving startup Pony.ai has put on hold plans to go public in New York through a merger with a blank-check firm at a $12 billion valuation, after it failed to gain assurances from Beijing that it would not become a target of a crackdown against Chinese technology companies, people familiar with the matter said.
Elon Musk visits Germany, meets with state leaders over ‘gigafactory’
Tesla (TSLA.O) CEO Elon Musk on Wednesday evening met with the leadership of Brandenburg, the German state where the group’s 5.8 billion euro ($6.9 billion) European gigafactory is being built, its Economy Minister Joerg Steinbach said on Twitter.
