DIRS.INFO The most relevant business & tech news

☆ Fire Season in Australia Has Started, Early and Ominous
▼ + stars: | 2023-11-26 | by ( Yan Zhuang | More About Yan Zhuang | ) www.nytimes.com time to read: +1 min

The warmest winter on record, followed by an unusually warm and dry spring. Hundreds of fires along Australia’s east coast, including one that razed 53 homes in Queensland. It’s not yet summer, but Australia’s fire season is well underway, in the latest example of how climate change is altering the rhythms of life across the Earth. Stoked by the El Niño weather pattern, it is the first dry and hot year since the Black Summer of 2019-2020. “We’re still at the very beginning of the fire reason, and already we’ve had hundreds of fires since early October,” Western Australia’s emergency services minister, Stephen Dawson, said on Friday.

Persons: We’re, we’ve, Stephen Dawson Locations: Queensland, Perth, El

[1/2] Ukrainian trucks are parked near the Poland-Ukraine border, near the village of Korczowa, Poland November 19, 2023. REUTERS/Yan Dobronosov/File Photo Acquire Licensing RightsKYIV, Nov 24 (Reuters) - Ukraine's top truckers union said on Friday its hopes of a rapid end to Polish trucker protests at the border were fading, as Kyiv prepared to evacuate its hauliers stranded in Poland. They launched their blockade on Nov. 6, protesting that Ukrainian truckers are exempt from requiring permits to cross the Polish border, a policy change put in place during the war. Deputy Infrastructure Minister Serhiy Derkach said late on Thursday that Ukrainian truckers were suffering in bitter, sub-zero temperatures and that there were no food supplies, basic sanitary conditions or ambulances at the scene. The truckers union says two Ukrainian truckers have died in their vehicles since the beginning of the blockade.

Persons: Yan, Leonid Kostiuchenko, Kostiuchenko, Serhiy Derkach, Derkach, Tom Balmforth, Gareth Jones Organizations: REUTERS, Rights, Ukrainian Association of International Carriers, European Union, Facebook, Thomson Locations: Poland, Ukraine, Korczowa, Polish

[1/2] Ukrainian trucks are parked near the Poland-Ukraine border, near the village of Korczowa, Poland November 19, 2023. They launched their blockade on Nov. 6, protesting that Ukrainian truckers are exempt from requiring permits to cross the Polish border, a policy change put in place during the war. The Polish protests coincide with concerns in Ukraine that the European Union may not agree next month to launch formal accession talks for it to join the 27-member bloc, a key objective for Kyiv. Deputy Infrastructure Minister Serhiy Derkach said late on Thursday that Ukrainian truckers were suffering in bitter, sub-zero temperatures and that there were no food supplies, basic sanitary conditions or ambulances at the scene. The truckers union says two Ukrainian truckers have died in their vehicles since the beginning of the blockade.

☆ Volkswagen to launch China-specific entry level electric platform
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +4 min

Volkswagen electric ID car is seen during a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. Chinese new car buyers are younger, tech savvy and like a immersive digital experience from their cars, he added. China was a very “price-sensitive” market and Volkswagen needed to optimise costs, Brandstaetter said. Volkswagen in July struck a deal with Chinese EV maker Xpeng Inc (9868.HK) to boost its EV line up. It has two new models under development as part of that partnership that will target mid-level consumers and be produced on an older generation Xpeng platform.

Persons: Aly, Ralf Brandstaetter, Brandstaetter, “, Luehrmann, Volkswagen's, Zhang Yan, Brenda Goh, Victoria Waldersee, Kim Coghill Organizations: Volkswagen, SAIC Volkswagen, REUTERS, Rights, Volkswagen Group China Technology Company, SAIC, FAW, JAC Motors, Xpeng, HK, Thomson Locations: Shanghai, China, Rights HEFEI, BERLIN, Hefei, BYD, Germany

☆ The founder of Evergrande just lost 2 Hong Kong mansions collectively valued at $200 million to a creditor
▼ + stars: | 2023-11-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Two luxury mansions belonging to Hui Ka Yan, the founder and chairman of Evergrande, have been seized. The properties in Hong Kong's prestigious The Peak neighborhood are worth $192 million, per HK01. AdvertisementHui Ka Yan, the founder and chairman of Chinese property developer Evergrande, is having a really bad end to the year. They are located in The Peak, Hong Kong's prestigious neighborhood, Bloomberg reported on Wednesday, citing documents lodged with Hong Kong's Land Ministry. The houses — which are valued at 1.5 billion Hong Kong dollars, or $192 million — will be formally seized in days, local media outlet HK01 reported on Wednesday.

Persons: Hui Ka Yan, China's, Evergrande, —, Hui, Yan, Tan Haijun Organizations: Service, Hong, Bloomberg, Ministry, Orix Asia Capital, HK, China Construction Bank, Orix, Business Locations: Hong, Hong Kong, China, Orix Asia

☆ Evergrande chairman's two luxury mansions seized by creditor - local media
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo/File Photo Acquire Licensing RightsHONG KONG, Nov 22 (Reuters) - Two luxury homes in Hong Kong owned by the chairman of embattled property developer China Evergrande Group (3333.HK), Hui Ka Yan, have been seized by a creditor, local media outlet HK01 reported on Wednesday. Hui owns the two luxury homes in The Peak, which were pledged to Orix Asia Capital Ltd in November 2021 for undisclosed amounts, according to the Land Registry. Another of Hui's homes next to the two mansions was seized by China Construction Bank (Asia) in November last year. ($1 = 7.7949 Hong Kong dollars)Reporting by Xie Yu; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Hui Ka Yan, Hui, Evergrande, Xie Yu, Sonali Paul Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Orix Asia Capital Ltd, Reuters, China Construction Bank, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Asia

☆ Hybrid vehicle sales surge in China, posing fresh threat to foreign automakers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +6 min

A Li L7 electric SUV by Li Auto is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. One-third of total vehicle sales by Toyota, the world's top-selling automaker, are already hybrids and the company reported a 34% surge in hybrid sales in the six months to end-September, outpacing 9% growth in overall revenue. Sales of HEVs in China, which Toyota still dominates with four top-selling models, tumbled 15%, while gasoline car sales dropped 11%, underscoring potential challenges facing foreign automakers. But it was a failed trial, with sales of just over 4,000 units, and GM in 2020 halted sales. BYD is expanding PHEV sales overseas, offering Han, Qin and Song lineups in Latin America, which has less charging infrastructure.

Persons: Li Auto, Aly, Xu Min, Yale Zhang, BYD, Li, Han, Qin, Stellantis, Leapmotor, Xu, Bill Russo, Zhang Yan, Brenda Goh, Miyoung Kim, Gerry Doyle Organizations: Li, Auto, REUTERS, Rights, Toyota, Honda, Shanghai Jiao Tong University's Institute, Intelligent, Reuters, China Association of Automobile Manufacturers, HK, Automotive Foresight, Reuters Graphics, Prius, General Motors, Buick, GM, Li Auto, Jiao Tong University, HEVs, Thomson Locations: Auto Shanghai, Shanghai, China, Europe, U.S, outpacing, United States, Shanghai Jiao, Reuters Graphics CHINA, America, Leapmotor, North America

☆ China's Nio, Changan Auto to jointly develop battery-swapping EVs
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of NIO seen on an EL6 car model is pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsSHANGHAI, Nov 21 (Reuters) - Nio (9866.HK) said on Tuesday it would partner with Changan Automobile (000625.SZ) to develop battery-swapping electric vehicles, in an attempt by the loss-making Chinese EV maker to ease costs. The partnership will also see Nio and state-owned Changan on building and sharing battery-swapping stations and standardising batteries, Nio said in a statement to Reuters. Battery swapping allows drivers to replace depleted packs quickly with fully charged packs, rather than plugging the vehicle into a charging point. By Nov. 21, Nio had 2,113 battery swapping stations in China and nearly 1 million charging poles.

Persons: Annegret, Nio, Tesla, Zhang Yan, Brenda Goh, Christopher Cushing, Miral Organizations: REUTERS, Rights, HK, Changan Automobile, Reuters, China Passenger Car Association, Thomson Locations: Berlin, Germany, China, Beijing

☆ Son bags double for South Korea as top sides win in Asian qualifiers
▼ + stars: | 2023-11-21 | by ( Michael Church | ) www.reuters.com time to read: +4 min

Japan, Australia, Qatar, United Arab Emirates and Saudi Arabia all won, while Kuwait and North Korea scored a flurry of goals en route to victories. Australia and Palestine players stood for a minute's silence ahead of their game, which was played in Kuwait due to the Israel-Hamas conflict. Son was in top form as South Korea completed back-to-back wins at the start of their challenge for a place at the 2026 finals. Players held a minute's silence ahead of kickoff before Souttar scored the game's only goal with an 18th-minute header. Kuwait, meanwhile, thrashed Afghanistan 4-0 away to move into second place in Group A behind Qatar.

Persons: Korea's Son Heung, Min, Tingshu Wang, Ueda, Heung, Son, Yan Junling, Lee Kang, Jung Seung, Yan, Thais, Suphanat Mueanta, Mano Polking's, Ayase Ueda, Hajime Moriyasu's, Jong Il Gwan, Harry Souttar, Kuwait's Jaber Al, Souttar, Oston Orunov, Igor Sergeev, Mohanad Ali, Jesus Casas, Darren Lok, Amadoni Kamolov, Saudi Arabia's Saleh Al Shehri, Jordan, Abdalla, Ali Mabkhout, Michael Church, Angelica Medina, Toby Davis Organizations: Soccer Football, AFC, Shenzhen Universiade Sports Centre, REUTERS, China, Japan, North Korea, Thailand, Singapore, North, Syrians, Syria, Palestine, Ahmad, Iraq, Vietnam, Malaysia, Taiwan, Kyrgyzstan, Qatar, United, Bahrain, Thomson Locations: China, Republic of Korea, Shenzhen, Republic, Korea's, Japan, South Korea, Australia, Qatar, Korea, Myanmar, Syria Australia, Palestine, HONG KONG, United Arab Emirates, Saudi Arabia, Kuwait, North, Israel, Syria, Jeddah, North Korea, Yangon, Australia's, Gaza, Lebanon, Bangladesh, Uzbekistan, Iran, Hong Kong, Turkmenistan, Vietnam, Philippines, Indonesia, Manila, Oman, India, Yemen, Nepal, Tajikistan, Pakistan, Islamabad, Saudi, Afghanistan

☆ Slovenia qualify for Euro 2024 after victory over Kazakhstan
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Nov 20 (Reuters) - Benjamin Verbic scored a late winner as Slovenia secured qualification for the Euro 2024 finals in Germany, but opponents Kazakhstan will have to earn their place through March's playoffs following the 2-1 loss in Ljubljana on Monday. Slovenia finish runners-up in qualification Group H behind Denmark on head-to-head record. Kazakhstan needed victory for a first ever qualification, but knew they had secured a playoff spot at least before kick-off following their promotion to League B of the 2024-25 Nations League. Slovenia were awarded a penalty late in the first half after a Video Assistant Referee review when Yan Vorogovskiy fouled Petar Stojanovic in the box. Reporting by Nick Said Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Benjamin Verbic, Yan Vorogovskiy, Petar Stojanovic, Benjamin Sesko, Ramazan Orazov, Maksim, Jaka Bijol, Islambek Kuat, Nick Said, Christian Radnedge Organizations: Slovenia, Kazakhstan, League B, Nations League, Thomson Locations: Germany, Ljubljana, Denmark, South Africa, Kazakhstan, Maksim Samorodov’s

☆ Mystery canine disease: A respiratory illness is spreading among dogs and baffling veterinarians. Here’s what owners can do
▼ + stars: | 2023-11-20 | by ( Chris Boyette | Holly Yan | ) edition.cnn.com time to read: +4 min

The mysterious illness is described as an “atypical canine infectious respiratory disease,” the Oregon Department of Agriculture said in a November 9 news release. In other words, dogs with the unidentified illness show similar signs of an upper respiratory disease but generally don’t test positive for common respiratory diseases. The Washington Animal Disease Diagnostic Laboratory has also reported cases of a mysterious canine disease, the lab’s director told CNN in an email. While the news may be concerning, “We suggest caution rather than worry,” the Oregon Veterinary Medical Association’s website says. While this particular disease is unusual, “Periodic outbreaks of Canine Infectious Respiratory Disease Complex (CIRDC) can occur in a dog population.

Persons: Ryan Scholz, David B, ”, Kevin Snekvik, Snekvik Organizations: CNN, Oregon Department of Agriculture, Oregon, American Veterinary Medical Association, New, Diagnostic Laboratory, University of New, Disease, Washington State University College of Veterinary Medicine, Oregon Veterinary Locations: New Hampshire, Oregon, Colorado , Illinois, University of New Hampshire, Washington

☆ China's Li Auto says to start mass production of its first EV in Feb
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Staff members stand at the booth of Chinese electric vehicle (EV) maker Li Auto, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsCompanies Li Auto Inc FollowSHANGHAI, Nov 17 (Reuters) - Li Auto (2015.HK) said on Friday it will start mass production and delivery of its first pure electric car in February, as the up and coming Chinese automaker bets on fast charging technologies to solve range anxiety for EV users. The MEGA MPV will also be the first model to be produced at Li Auto's Beijing plant with a designed capacity of 100,000 units annually. Founded in 2015, Li Auto has been offering four extended range hybrid SUVs targeting family users. ($1 = 7.2441 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Auto, Tingshu Wang, Li, Zhang Yan, Brenda Goh, Muralikumar Anantharaman, Raju Gopalakrishnan Organizations: REUTERS, HK, Li Auto, Thomson Locations: Beijing, China

The upheaval at Documenta is just one example of how Europe’s art world is being torn by debates about Israel and Gaza, as some institutions have moved to postpone the shows of artists who have criticized Israel. Documenta was initially staged in 1955 as the first large-scale exhibition in West Germany of the art of the European avant-garde. It was a direct response to the Degenerate Art Show, the denunciatory exhibition of modern art staged by the Nazis in Munich in 1937. Although the mural was taken down, it set off a monthslong debate in Germany’s art world about antisemitism, Palestinian activism and Germany’s relationship to formerly colonized countries. Hoskote said Documenta was one of the art world’s greatest events, partly because it had always been a forum for new ideas.

Persons: Documenta’s, — Simon Njami, Gong Yan, Kathrin, Inés Rodríguez, —, ”, Bracha Lichtenberg Ettinger, Ranjit Hoskote, Anaïs Duplan, Ai Weiwei, ” Ai, Ai, Galerie Max Hetzler, Lisson’s, Claudia Roth, Documenta, Hoskote Organizations: Venice Biennale, Folkwang, Israel, Art Newspaper, Galerie Max, Berlin, Die Locations: Israel, Kassel, Germany, Gaza, Venice, India, Essen, Haitian, United States, B.D.S, London, Lisson, New York, Paris, West Germany, Munich, Nazi, Indonesia

☆ Real estate made China rich. Now it's looking more like kryptonite.
▼ + stars: | 2023-11-16 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

It’s a sign a key engine for the world’s second-largest economy is still sputtering, despite Beijing’s stimulus packages. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's property crash worsened last month in a sign the world's second-largest economy is still facing headwinds despite recent government interventions. Evergrande serves as a case in point for how an industry that contributed to China's economic boom for decades has turned into a point of weakness. That's a sign investors are looking past US president Joe Biden's San Francisco summit with Chinese premier Xi Jinping and zeroing back in on China's economic struggles, according to analysts.

Persons: —, That's, that's, Evergrande, Hui Ka Yan, Joe Biden's, Xi Jinping, Hargreaves, Susannah Streeter, Joe Biden Organizations: Service, National Bureau, Statistics, Bloomberg, Cato Institute, CSI Locations: China, Beijing, Chinese, Joe Biden's San Francisco

☆ BAIC unit applies for approval to build Xiaomi-branded EVs in China
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +3 min

People clean the floor at the stall of the BAIC Group automobile maker at the IEEV New Energy Vehicles Exhibition in Beijing, China October 18, 2018. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 15 (Reuters) - A unit of Beijing-based automaker BAIC Group <1958.HK> has applied to regulators for approval to build two Xiaomi-branded <1810.HK> electric vehicles (EVs), China's industry ministry website showed on Wednesday. The filing indicates that BAIC will be the manufacturer for these two models, even though Xiaomi has built a plant that can produce 200,000 EVs annually in Beijing. The new EVs will be built at a site that is the same address as the Xiaomi plant, China Business News reported. Both BAIC and Xiaomi did not immediately respond to requests for comment on the EV applications.

Persons: Thomas Peter, Xiaomi, ORV, Max, Lu Weibing, Qiaoyi Li, Zhang Yan, Brenda Goh, Mo Yelin, Muralikumar Anantharaman, Kim Coghill Organizations: BAIC Group, New Energy Vehicles Exhibition, REUTERS, Rights, BAIC, HK, CATL's, Ministry of Industry, China Business News, STAR, Reuters, Tesla Inc, Lucid, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

It also slightly raised its 2023 forecast for growth in global oil demand and stuck to its relatively high 2024 prediction. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. A U.S. crackdown on Russian oil exports could potentially disrupt supply, supporting prices further. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Leon Li, Emily Chow, Edwina Gibbs, Stephen Coates Organizations: REUTERS, Rights, Brent, ING, Organization of, Petroleum, Strategic Petroleum Reserve, U.S . Treasury Department, Kurdistan Regional Government, of Commerce, International Energy, APEC, Markets, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Washington, Moscow, Iraq, Kurdish, Turkey, Shanghai

☆ Oil prices edge up after OPEC says market fundamentals are strong
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Nov 14 (Reuters) - Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Oil prices were also supported by a U.S. crackdown on Russian oil exports, potentially disrupting supply. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Emily Chow, Edwina Gibbs Organizations: REUTERS, Rights, Brent, Organization of, Petroleum, ANZ Research, Kurdistan Regional Government, of Commerce, U.S . Treasury Department, Strategic Petroleum Reserve, International Energy, Energy, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Iraq, Kurdish, Turkey, Washington, Moscow

☆ AI's most doomsaying godfather sure would like you to believe his invention is godlike
▼ + stars: | 2023-11-14 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

However, overemphasizing the dangers of AI risks paralyzing debate at a pivotal moment. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"I'm not scared of A.I.," LeCun told the magazine. While Hinton and Meta's chief AI scientist LeCun have butted heads, fellow collaborator and third AI godfather Yoshua Bengio has stressed that this unknown is the real issue.

Persons: what's, Geoffrey Hinton, —, Hinton, Yan LeCun, Turing, LeCun, Yoshua Bengio, Yann, Joshua Rothman, it's Organizations: Service, Big Tech, Google, Yorker Locations: Hinton, Canadian

☆ March for Israel: Security in Washington, DC, increased for tens of thousands of expected demonstrators
▼ + stars: | 2023-11-14 | by ( Holly Yan | Lauren Mascarenhas | ) edition.cnn.com time to read: +4 min

The Department of Homeland Security has determined the event will require “extensive federal interagency support,” according to law enforcement sources. American support for Israel is critical, said Eric D. Fingerhut, president and CEO of the Jewish Federations of North America. “Israel must eliminate the terrorist threat on its border and restore safety and security to its people,” Fingerhut added. But Israel has agreed to four-hour, daily pauses in military operations in Gaza to allow for evacuations. The website for the “March for Israel” event says organizers have been in touch with law enforcement in the lead-up to the rally and have “retained the services of additional security assets based on recommendations of law enforcement and our security advisors.”

Persons: Muriel Bowser, Eric D, Fingerhut, “, ” Fingerhut, Israel, ” Organizations: CNN, Israel, Department of Homeland Security, US Capitol Police, DC, National Guard, Jewish Federations of North, Conference, Major, Jewish Organizations, Jewish Federations of, Hamas, Palestinian Ministry of Health, UNICEF, Freedom Locations: Washington ,, Israel, Jewish Federations of North America, “ Israel, Gaza, Ramallah, Washington

☆ An ‘Unsettling’ Drop in Life Expectancy for Men
▼ + stars: | 2023-11-13 | by ( Azeen Ghorayshi | More About Azeen Ghorayshi | ) www.nytimes.com time to read: +2 min

Background: The life expectancy gap has substantially widened — and shrunk — before. At the turn of the 20th century, women had a life expectancy just two years higher than men, Dr. Yan said. That year, the life expectancy for men was 76.3 years, while for women it was 78.1. Between 2019 and 2021, the life expectancy in the United States dropped from around 79 to 76 years. Unintentional injuries — mostly drug overdoses — contributed to more than 30 percent of the life expectancy gap between men and women.

Persons: Yan, Covid, —, ” Dr Locations: United States

☆ Exclusive: Country Garden aims to have offshore debt restructuring plan by year end
▼ + stars: | 2023-11-10 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is displayed at a news conference in Hong Kong, China March 20, 2018. Country Garden, which has almost $11 billion of offshore bonds, declined to comment. The timeline for the company's debt restructuring plan has not been reported before. CreditSights said in a Nov. 2 research note that Country Garden had "formally defaulted" on its offshore bonds due to the missed payment. Sunac China Holdings Ltd (1918.HK) in October became the first to complete the debt revamp scheme for its $9 billion offshore debt after winning approval from creditors and courts.

Persons: Bobby Yip, Ping, CreditSights, CICC, Houlihan Lokey, Sidley Austin, Houlihan, China Evergrande, Hui Ka Yan, Xie Yu, Clare Jim, Sumeet Chatterjee, Edwina Gibbs Organizations: REUTERS, Reuters, Insurance Group, Ping An, Sunac China Holdings Ltd, HK, Thomson Locations: Hong Kong, China, HONG KONG, HK, Beijing

China inflation data released on Thursday showed that October CPI fell 0.2% year on year, while PPI data fell 2.6% year on year. Earlier this week, customs data showed that China's total exports of goods and services contracted faster than expected, although the country's crude imports in October were robust. On the plus side for oil demand, China's central bank governor, Pan Gongsheng, said the country is expected to achieve its annual growth target of 5% for this year. U.S. crude oil inventories increased by 11.9 million barrels over the week to Nov. 3, sources said, citing American Petroleum Institute figures. The U.S. Energy Information Administration (EIA), however, has delayed release of weekly oil inventory data until Nov. 15 for a system upgrade.

Persons: Dun Jiao, Tatiana Meel, Brent, Pan Gongsheng, Andrew Hayley, Tom Hogue Organizations: REUTERS, Rights, PPI, Reuters, American Petroleum Institute, U.S . Energy Information Administration, Barclays, Thomson Locations: Nakhodka, Russia, Rights BEIJING, China, United States, Venezuela, American

☆ Exclusive: Geely's Zeekr edges closer to US IPO, to make filing public this week - sources
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

The EV brand will publish its prospectus and its shares could start being traded on the bourse within weeks of the announcement, the sources said. Zeekr confidentially filed for a U.S. initial public offering last December, aiming to raise more than $1 billion, Reuters has reported. However, the company is likely to raise less than the targeted amount from the IPO, one of the sources said. It offers four EV models in China, with its 001 crossover priced from 269,000 yuan ($36,927.22) as its best-selling EV. ($1 = 7.2846 Chinese yuan renminbi)Reporting by Zhang Yan in Shanghai and Scott Murdoch in Sydney.

Persons: Goldman Sachs, Morgan Stanley, Zeekr, Zeekr confidentially, Didi, Amnon Shashua, Andy, Zhang Yan, Scott Murdoch, Kane Wu, Kim Coghill Organizations: bourse, underwriters, U.S, Reuters, Mobileye, Intel Corp, Tesla, Zhejiang Geely, Thomson Locations: SHANGHAI, New York, China, United States, Beijing, Zhejiang, Zeekr, Netherlands, Sweden, Germany, Israel, Kazakhstan, Shanghai, Sydney, Hong Kong

☆ Cosmic ‘Christmas tree’ dazzles in new image captured by Hubble and Webb
▼ + stars: | 2023-11-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

New details of the celestial feature have emerged in the colorful image, which unites the observational powers of Hubble Space Telescope in visible light and the James Webb Space Telescope in infrared light, which is invisible to the human eye. Hubble has long been used to search for faint, distant galaxies across different wavelengths of light. This cosmic effect occurs when closer objects — such as the galactic clusters — act like a magnifying glass for distant objects. The Webb and Hubble composite image includes "Mothra," a star system magnified by the galactic cluster pair as well as another unseen object. NASA/ESA/CSA/STScIThe team nicknamed the star system Mothra due to its extreme magnification and brightness.

Persons: James Webb, Hubble, Webb, ”, Rogier Windhorst, Windhorst, ” Windhorst, Haojing Yan, Yan, José Diego Organizations: CNN, Hubble, James Webb Space, Arizona State University’s School of Earth, Exploration, University of Missouri, Astrophysical Journal, NASA, ESA, CSA, Institute of Physics, Astrophysics Locations: Arizona, Japanese, Cantabria, Spain

REUTERS/Chris Helgren Acquire Licensing RightsNEW YORK, Nov 8 (Reuters) - Citigroup Inc (C.N) has agreed to pay $25.9 million to settle U.S. Consumer Financial Protection Bureau (CFPB) charges it intentionally discriminated against credit card applicants who the bank identified as Armenian-American based on their last names. The CFPB also said bank employees lied to applicants by giving them fake reasons for denials, and were instructed not to discuss the discrimination in writing or over the phone. According to a consent order, some employees referred to card applicants they suspected were of Armenian descent as "Armenian bad guys" or the "Southern California Armenian Mafia." The payment includes a $24.5 million civil fine and $1.4 million of restitution to card applicants, for violations of the federal Equal Credit Opportunity Act. Citigroup apologized, saying it had been trying to thwart an Armenian fraud ring in California but that a "small number" of employees circumvented its fraud detection protocols.

Persons: Chris Helgren, Rohit Chopra, Chopra, Biden, Jonathan Stempel, Tatiana Bautzer, Douglas Gillison, Chizu Nomiyama, Mark Potter Organizations: Citigroup Inc, Citi, REUTERS, Consumer Financial Protection Bureau, Citigroup, Southern California Armenian Mafia, Credit, Act, Thomson Locations: Toronto , Ontario, Canada, Glendale , California, Armenia, United States, Southern California, California, York, New York, Washington

Search resuls for: "YAN"

25 mentions found