Asian shares jump on Fed rate fever, trade war hope
Asian share markets jumped on Wednesday as investors dared to hope the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.
Electric dreams in danger as funding dwindles for China’s Tesla challengers
Last year, Wei Qing and his private equity investment team visited more than 20 Chinese electric vehicle manufacturing startups.
Canada approves contentious oil pipeline expansion, expects legal challenges
Canada on Tuesday approved as expected a hotly contested proposal to expand the western Canadian crude oil pipeline it bought last year, providing hope for a depressed energy industry but angering environmental groups.
PG&E settles California fire claims with local governments for $1 billion
PG&E Corp will pay $1 billion as part of its bankruptcy reorganization to more than a dozen local governments in California struck by wildfires in recent years, the company and lawyers for the governments said on Tuesday.
Blackstone chief donates $150 million to Oxford University
The head of private equity firm Blackstone has pledged $150 million to Oxford University, the biggest single donation in its history, to fund a center for humanities that would also house an institute to study the ethics of artificial intelligence.
Adobe beats quarterly estimates on cloud strength; shares rise
Adobe Inc beat analysts’ estimates for quarterly profit and revenue on Tuesday, driven by growth in its digital media business that houses its flagship product Creative Cloud, sending its shares up 4.6% after market.
Google invests $1 billion to ease housing shortage near California headquarters
Alphabet Inc’s Google announced on Tuesday it would set aside $750 million in land and $250 million in financing to spur developers in the San Francisco Bay Area to build at least 20,000 homes and rehabilitate other housing over the next decade.
Facebook’s cryptocurrency ambitions face privacy concerns, political backlash
Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns.
Nissan considers seats for top two Renault executives in new committees: Nikkei
Nissan Motor Co has plans to give multiple seats in its four proposed committees to alliance partner Renault SA’s chief executive and chairman, Japan’s Nikkei newspaper reported on Wednesday, citing sources.
Trump pressures Fed’s Powell: ‘Let’s see what he does’
President Donald Trump on Tuesday kept up pressure on the head of the Federal Reserve to lower interest rates, following a report that White House lawyers earlier this year explored whether they could legally strip Jerome Powell of the Fed chairmanship…
