Drive to end energy poverty gets off to a flying start at United Nations | Antonio Guterres News

Drive to end energy poverty gets off to a flying start at United Nations |  Antonio Guterres News

New York City, United States – The COVID-19 pandemic has held back decades of progress on poverty and development, including the goal of eradicating energy poverty for good by the end of the decade. World leaders meeting Friday for the United Nations General Assembly are expected to recommit to commitments to end energy poverty — … Read more

Evergrande Debt Troubles: EV Unit Stops Paying Employees, Suppliers | Automotive industry news

Evergrande Debt Troubles: EV Unit Stops Paying Employees, Suppliers |  Automotive industry news

China’s electric vehicle manufacturer Evegrande Group has failed to pay a number of employees and is behind in paying factory equipment suppliers, sources tell Bloomberg News. The China Evergrande Group’s electric car unit has missed salary payments to some of its employees and has fallen behind in paying a number of factory equipment suppliers. its … Read more

American space giant Boeing says it will build drones in Australia | Aviation News

American space giant Boeing says it will build drones in Australia |  Aviation News

Boeing has unveiled plans to build a new type of military drone aircraft in Australia. Chicago-based aerospace giant Boeing has announced plans to build a new type of military drone aircraft in Australia. Boeing said on Wednesday it has chosen the city of Toowoomba in the state of Queensland as the final staging area for … Read more

Turkey: Surprising rate cut sends lira to new record low | Business and economic news

Turkey: Surprising rate cut sends lira to new record low |  Business and economic news

Turkey’s central bank cut interest rates by a full percentage point to 18 percent, surprising markets and pushing the lira to a new record low. The Turkish lira fell to a record low after the central bank cut its benchmark rate on Thursday, unleashing another wave of market turbulence and reflecting President Recep Tayyip Erdogan’s … Read more

China tells Evergrande to avoid short-term dollar bond defaults | Business and economic news

China tells Evergrande to avoid short-term dollar bond defaults |  Business and economic news

Chinese regulators told real estate developer Evergrande, who is in financial distress, to focus on completing unfinished properties and paying back individual investors while avoiding a short-term default on their dollar bonds, sources tell Bloomberg. Financial regulators in Beijing issued a wide range of instructions to the China Evergrande Group, telling the embattled developer to … Read more

US economy: Fed says phasing out bond buying ‘may soon be justified’ | Business and economic news

US economy: Fed says phasing out bond buying ‘may soon be justified’ |  Business and economic news

On Wednesday, the US central bank prepared the ground to potentially reverse some of the extraordinary support it gave the economy during the pandemic. One of the biggest questions currently looming over the United States economy is when the Federal Reserve will begin to curb its policy of cheap money. On Wednesday, the Fed prepared … Read more

UAE, India aim to double trade to at least $100 billion in five years | Business and economic news

UAE, India aim to double trade to at least 0 billion in five years |  Business and economic news

The United Arab Emirates is trying to polish its credentials as a global hub for business and finance in the face of growing regional competition from Saudi Arabia. Through Sylvia Westall and Shruti SrivastavaBloomberg The United Arab Emirates and India aim to more than double non-oil trade to at least $100 billion in five years, … Read more

UBS Trader Sues Employer, Claims ‘Stress’ Harms Mental Health | Business and economic news

UBS Trader Sues Employer, Claims ‘Stress’ Harms Mental Health |  Business and economic news

A 35-year veteran of Swiss bank UBS is suing for $273,000 in damages, alleging he was subjected to a “punitive workload” that harmed his mental health. A trader from UBS Group AG has sued his employer over allegations that the “toxic” working environment in London and the “punishment of workload” caused his mental health to … Read more

China’s Evergrande says it will make a scheduled payment | Bankruptcy News

China’s Evergrande says it will make a scheduled payment |  Bankruptcy News

The main unit of China Evergrande Group has said it would make a coupon payment on its domestic bonds on schedule, which would provide some relief to jittery markets on edge over fears that a default by China’s No. 2 developer by the global financial system could wrinkle. Hengda Real Estate Group said in a … Read more

Money crunch Evergrande missed interest payments on Monday | Business and economic news

Money crunch Evergrande missed interest payments on Monday |  Business and economic news

Troubled Chinese real estate developer Evergrande Group missed interest payments to at least two of its largest bank creditors, sources tell Bloomberg. Through Bloomberg NewsBloomberg China Evergrande Group missed interest payments owed to at least two of its largest bank creditors on Monday, bringing the struggling developer one step closer to one of the country’s … Read more