• Global energy crunch leaves China facing more power shortages Link
    Bloomberg Thu 16 Sep 2021 14:51

    China is staring down another winter of power shortages that threaten to upend its economic recovery as a global energy supply crunch sends the price of fuels skyrocketing.

    The world’s second biggest economy is at risk of not having enough coal and natural gas -- used to heat households and power factories -- despite efforts over the past year to stockpile fuel as rivals in North Asia and Europe compete for a finite supply. Demand for heating will jump when temperatures turn colder over the next few months, which could trigger power rationing similar to those seen last winter and over the summer.

  • A survey of 45 companies around the globe shows business travel as we’ve known it isn't coming back Link
    Bloomberg Thu 16 Sep 2021 14:46
    Akzo Nobel NV, Europe’s biggest paint maker, for instance. At its Amsterdam headquarters, Chief Executive Officer Thierry Vanlancker has spent the past year watching his manufacturing head, David Prinselaar, flap his arms, madly gesticulate and seemingly talk to himself while “visiting” 124 plants by directing staff with high-definition augmented-reality headgear on factory floors. A task that meant crisscrossing the globe in a plane before is now done in a fraction of the time — and with no jet lag. For Vanlancker, there’s no going back.

  • ECB President Christine Lagarde calls for continued cooperation between monetary officials and governments as the euro area moves into the next phase of its rebound from the coronavirus slump Link
    Bloomberg Thu 16 Sep 2021 14:41

    European Central Bank President Christine Lagarde called for continued cooperation between monetary officials and governments as the euro area moves into the next phase of its rebound from the coronavirus slump.

  • Scientists say the Southern Hemisphere ozone hole is larger than usual and already surpasses the size of Antarctica (via AP) Link
    Bloomberg Thu 16 Sep 2021 14:41

    Berlin (AP) -- Scientists say the hole in the Earth’s protective ozone layer over the Southern Hemisphere is larger than usual this year and already surpasses the size of Antarctica.

    The European Union’s Copernicus Atmosphere Monitoring Service said Thursday that the so-called ozone hole, which appears every year during the Southern Hemisphere spring, has grown considerably in the past week following an average start.

  • The play is based on a real-life camp on Long Island in the 1930s that indoctrinated young German-Americans into Nazi ideology (via AP) Link
    Bloomberg Thu 16 Sep 2021 14:41

    London (AP) -- What could be more American than summer camp? It has fresh air, sailing, cookouts — and, in Bess Wohl’s new play, swastikas.

    “Camp Siegfried” is based on a real-life camp on Long Island in the 1930s that indoctrinated young German-Americans into Nazi ideology. The play has its opening night Friday at London’s Old Vic Theatre, the venue’s first show to full-capacity audiences since the coronavirus pandemic began.

  • Iran’s power market is bucking global trends and in the process revealing a key economic buffer that helps the country withstand international sanctions Link
    Bloomberg Thu 16 Sep 2021 14:41

    Iran’s power market is bucking global trends and in the process revealing a key economic buffer that helps the country withstand international sanctions. 

    While European electricity prices spiked over the last month,

  • The foundation behind the Avalanche blockchain says it received a $230 million investment through the private sale of its surging AVAX cryptocurrency Link
    Bloomberg Thu 16 Sep 2021 14:41

    The foundation behind the Avalanche blockchain said it received a $230 million investment from a group led by Polychain and Three Arrows Capital, through the private sale of its surging AVAX cryptocurrency. 

    R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital and a group of angel investors and family offices also participated in the investment, according to a statement. The Avalanche Foundation will use proceeds from the token sale -- which was completed in June -- to support and accelerate the rapid growth of decentralized finance or DeFi, enterprise applications, and other use cases on the Avalanche public blockchain. 

  • The FDIC has announced a $120 million investment fund backed by companies including Microsoft and Truist Financial that’s designed to serve low-income and minority communities Link
    Bloomberg Thu 16 Sep 2021 14:31
    Federal Deposit Insurance Corp. announced a $120 million investment fund backed by companies including Microsoft Corp. and Truist Financial Corp. that’s designed to serve low-income and minority communities.

    Discovery Inc. is also an investor in the first-of-its-kind fund that will allocate capital to banks that provide financial services to low-income, rural and minority borrowers, the FDIC said in a press release Thursday. While the regulator will serve as an adviser, the agency will not be involved in investment decisions.

  • Shopping for sports gear? This site helps you avoid a rookie mistake Link
    Bloomberg Thu 16 Sep 2021 14:26
    Curated.com, an online gear retailer I logged on to so I could find a potential first set of clubs.

    “Hi Gordy!” he said. “I’m Blake, your designated golf expert (and a real human, I promise!)” All right, even though it sounds exactly like something an intelligent chatbot would say, this detail mattered to me: Blake’s expertise (and his humanity) was what most interested me about Curated.

  • Goldman is on the hunt for the FAANGs of the future Link
    Bloomberg Thu 16 Sep 2021 14:21
  • Russia is stepping up pressure on U.S. technology companies ahead of this week’s parliamentary elections, the latest move in an escalating squeeze on the Internet Link
    Bloomberg Thu 16 Sep 2021 14:21
  • RT @lizzzburden: ???? In this week's Beyond Brexit news: More calls for looser immigration rules to cure the supply chain issues that hit…
    Bloomberg Thu 16 Sep 2021 14:21
  • "At one time, people thought being vegan was for skinny white women," RZA of Wu-Tang Clan talks the intersection of veganism and social justice on Black in Focus. Catch him with @karentoulon and @kkrader of @luxury Link https://t.co/EmVzeKgFwT
    Bloomberg Thu 16 Sep 2021 14:16
  • The 74-year-old singer had been due to play around Europe this year as part of the 'Farewell Yellow Brick Road' tour, followed by shows in the U.S. in 2022 (via AP) Link
    Bloomberg Thu 16 Sep 2021 14:06

    London (AP) -- Elton John says he is postponing European dates on his world tour until 2023 so that he can have an operation on an injured hip.

    The 74-year-old singer-songwriter had been due to play cities in Britain and Europe this year as part of the Farewell Yellow Brick Road tour, followed by shows in the U.S. in 2022.

  • Several EU governments are pushing back against a proposal by the bloc’s executive arm to extend controls on vaccine exports Link
    Bloomberg Thu 16 Sep 2021 14:06

    Several European Union governments are pushing back against a proposal by the bloc’s executive arm to extend controls on vaccine exports, according to people familiar with the matter. The European Commission is intent on renewing

  • Investment bankers set aside a couple weeks to drum up interest in Saudi Arabia’s first $1 billion IPO since Aramco. They only needed hours before they had excess orders Link
    Bloomberg Thu 16 Sep 2021 14:06
    ACWA Power International, set to price later this month, is drawing high interest from investors looking for exposure to businesses seen as key to the kingdom’s plans to diversify its economy away from oil. The listing had initial demand amounting to several billion dollars and advisers are having to limit allocations to institutional investors, according to people with direct knowledge of the deal. 

  • U.K. voters will be invited to advise the government on which EU-inherited regulations should be repealed following Brexit Link
    Bloomberg Thu 16 Sep 2021 14:06
  • Zimbabwe's government orders all its employees to get vaccinated against Covid-19 or they won't be allowed to come to the office (via AP) Link
    Bloomberg Thu 16 Sep 2021 14:06
  • RT @bbgequality: COMING UP at 11AM ET: We'll be live with Howard Business School Dean Anthony Wilbon talking the @BW Best B-School Diversit…
    Bloomberg Thu 16 Sep 2021 14:06
  • Genco Shipping CEO says rates for commodity hauling freighters are close to the point of spiking sharply higher and mirroring the surge in costs for transporting manufactured goods Link
    Bloomberg Thu 16 Sep 2021 14:01

    An owner of commodity hauling freighters said rates for the ships are close to the point of spiking sharply higher and mirroring an unprecedented surge in costs for transporting manufactured goods.

    Spot rates for container ships to move manufactured products have surged for 20 straight weeks and now stand 731% above their seasonal average over the prior five years, according to Drewry Shipping. John Wobensmith, the president and chief executive officer of Genco Shipping & Trading Ltd., said that prices to move commodities -- which have already rallied sharply -- may follow.

  • The people in charge of getting packages to your door are facing a pandemic, an acute labor shortage and sky-high demand ? Read The Big Take ?? Link (via @BW)
    Bloomberg Thu 16 Sep 2021 14:01

    It’s mid-August, and logistics manager RoxAnne Thomas’s phone won’t stop pinging. Her faucets, sinks, and toilets are waylaid near Shanghai, snagged in Vancouver, and buried under a pile of shipping containers in a rail yard outside Chicago. As U.S. transportation manager for

  • “There is no hope in Macau." China's new moves threaten to fundamentally transform Macau’s identity as the epicenter of global gaming Link
    Bloomberg Thu 16 Sep 2021 14:01
    tighten its grip on the world’s biggest gambling hub, the junket operator had just one thing to say: sell. 

    “There is no hope in Macau,” the executive said in an interview, declining to be named on concern there could be fallout for their business, which facilitates loans for bettors in Macau. 

  • Rallying energy prices are stoking concerns about a challenging stagflation-like environment for markets Link https://t.co/osuswqlv05
    Bloomberg Thu 16 Sep 2021 13:56
    soared as economies emerge from the pandemic. The Northern Hemisphere winter could exacerbate the trend, ratcheting up inflationary pressure and hurting both consumers and companies. A backdrop of elevated costs and slower growth could be challenging for stocks and bonds.

  • New Van Gogh just dropped Link (via AP)
    Bloomberg Thu 16 Sep 2021 13:51

    Amsterdam (AP) -- A drawing newly attributed to Vincent van Gogh that has never been displayed publicly before is going on show at the Amsterdam museum that bears the Dutch master's name.

    The “new” Van Gogh, "Study for ‘Worn Out,’” from November 1882, is part of a Dutch private collection and was known to only a handful of people, including a few from the Van Gogh Museum.

  • U.K. green bonds aren't green enough for one ethical investing pioneer Link
    Bloomberg Thu 16 Sep 2021 13:51
    decades, won’t buy the long-promised debt offering next week, saying it isn’t green enough. While the Dutch money manager has more stringent criteria than most, that hasn’t stopped it from investing in other sovereign green bond sales from the likes of Italy, Germany and France.

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