August, 2020

• 31 August

  India must give up coal in fight against climate change: UN chief

  

  Bloomberg India must stop building coal infrastructure and focus on renewable power generation to aid the global fight against climate change and lift its citizens out of poverty, United Nations Secretary-General Antonio Guterres said. The nation, the biggest coal consumer after China, must invest in a “clean, green transition” as it recovers from the Covid-19 pandemic, Guterres said at an ...

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• 31 August

  Siemens Gamesa plans for future with ‘hydrogen’

  

  Bloomberg Siemens Gamesa Renewable Energy SA has one eye on the future where its wind turbines could play a key role in creating hydrogen. The company, which earlier this year launched the world’s biggest wind turbine, plans to start a pilot project in Denmark to test how its machines could power production of the fuel seen as key to eliminating ...

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• 31 August

  Clean-energy funds top ETFs

  

  Bloomberg This year’s rally in exchange-traded funds specialising in clean energy is leaving larger peers in the environmental, social and governance (ESG) sector far behind. One example is the $1.2 billion Invesco Solar ETF’s 75% jump this year, which exceeds the 9% climb in the $8.6 billion iShares ESG Aware MSCI USA ETF, the biggest such fund in the ESG ...

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• 31 August

  Trump’s China sanctions fail Russian history test

  

  The US is deploying its economic weaponry as never before, using unilateral sanctions to punish China for the erosion of Hong Kong’s autonomy and its treatment of Uighur minorities in the country’s northwest. Western experience with Russia suggests Washington’s efforts to force a change of behavior are unlikely to succeed, even if the measures remain in place for years. Washington ...

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• 31 August

  Can Epic Games battle Apple?

  

  Everyone has an agenda. That’s especially true for corporations like Apple Inc and Fortnite-maker Epic Games Inc. But while the two powerful technology companies jockey back and forth in their continuing public battle, they need to recognise their brinksmanship has a severe cost. Not only is it affecting their own businesses, but it is taking a significant toll on their ...

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• 31 August

  How to ask for a raise in pandemic recession

  When negotiating a raise, timing matters. Typically, it’s best to ask before annual budgets are locked and to steer clear of Monday mornings when the boss may be cranky. But in a pandemic-led recession? It’s awkward, for sure, but it’s not an impossible task. With unemployment in the US exceeding 10% and average jobless claims running over one million per ...

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• 31 August

  Is Big Oil still a big deal

  From Monday there will be just one oil company in the Dow Jones Industrial Average — Chevron Corp. The removal of Exxon Mobil Corp from the index after an uninterrupted presence since 1928 shouldn’t come as a surprise. It’s not the end of Big Oil, but it may signal the start of the beginning of the end. It may seem ...

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• 31 August

  India’s Ambani to pay $3.4b for Future Group retail units

  

  Bloomberg Reliance Industries said it will acquire the retail, wholesale, logistics and warehousing units of India’s Future Group for 247.1 billion rupees ($3.4 billion), in a transaction that will propel Mukesh Ambani’s ambitions to dominate India’s retail sector. Future Group will merge some of its remaining businesses into Future Enterprises, Reliance Retail Ventures said. Ambani’s unit will then invest 12 ...

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• 31 August

  Jokowi’s efforts to revive economy takes a stumble

  

  Bloomberg Indonesia’s efforts to revive the economy took a stumble as virus outbreaks forced factories in one of its biggest manufacturing hubs to shut. South Korea’s LG Electronics Inc, and Japan’s Suzuki Motor Corp and NOK Corp were told to stop operating their facilities in Cikarang, West Java, after more than 300 workers at the industrial area tested positive for ...

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• 31 August

  Phone giant Xiaomi jumps to two-year high after profit beat

  

  Bloomberg Xiaomi Corp’s shares leapt 11.4% after inroads into the Chinese market for high-end smartphones and strong growth overseas helped the company report better-than-expected profit. The stock climbed its most in two years in Hong Kong, taking its 2020 gains to 98% last week. The Chinese smartphone maker more than doubled net income to 4.49 billion yuan ($716 million) in ...

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