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South Korea is redoubling efforts to shore up the local credit market as yields surge to decade highs and default risks spread, extending efforts to support markets after the country already stepped in earlier this year to slow a tumbling won. Authorities will swiftly resume buying corporate debt via a 1.6 trillion won ($1.1 billion) bond stabilisation fund established at …

India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd. in what could be the biggest sale of the government’s stake in a lender in decades, according to a person familiar with the matter. The government earlier this month invited bidders for a 60.72% stake in the Mumbai-listed lender. The valuation target …

Deutsche Bank AG has given its clearest indication yet of how it plans to deliver on the commitment it made last year to reach net-zero financed emissions by 2050. Germany’s biggest bank said in a statement that it will “significantly” reduce its so-called Scope 3 emissions, which are also known as financed emissions, by 2030 and announced a set of …

China’s lurch towards one-man rule has made it more important than ever for investors to align their portfolios with the priorities of President Xi Jinping. Some are deciding it’s not worth the trouble. Chinese stocks tumbled by the most since 2008 in Hong Kong and the yuan hit a 14-year-low after the confirmation that Xi’s policies of stronger state control …

Saudi Arabia has earmarked 10 billion riyals ($2.7 billion) to provide incentives for global supply firms to invest in the kingdom, part of plans to develop its economy as a hub for industrial companies. Crown Prince Mohammed bin Salman bin Abdul Aziz announced the plans as part of Saudi Arabia’s Global Supply Chain Resilience Initiative on Sunday, that aims to …

Australia joined the Global Methane Pledge, becoming one of the last major developed economies to sign on to an effort to reduce emissions of the potent greenhouse gas 30% from 2020 levels by the end of this decade. Announcing the decision to sign the methane pledge on Sunday, Climate and Energy Minister Chris Bowen said meeting the 2030 target could …

Liam Denning In between dabbling in geopolitics and buying-rejecting-not-really-buying Twitter, Elon Musk runs a car company. Tesla Inc. reported results that were somehow simultaneously great and yet humdrum. Revenue jumped 56% versus a year ago, but missed expectations by 3%; the stock fell slightly after hours on Wednesday. Such is the flip-side of high expectations. Musk appeared on the call …

Adidas AG’s next chief executive officer is set to inherit an even tougher job. The company warned that unsold goods are piling up as consumer demand weakens across China and western markets. That sent the German sport apparel maker’s stock slumping as much as 10%. Problems are accumulating under outgoing Chief Executive Officer Kasper Rorsted, including a publicity crisis over …

Families of passengers killed in two crashes of Boeing 737 Max jets were deemed by a federal judge to be official crime victims entitled to consultation before the US Justice Department cuts any deals with the maker of the flawed aircraft. US District Judge Reed O’Connor in Texas said in a ruling he will now determine what remedies the families …

Regional Australian airline Rex said operating costs on short flights will drop as much as 50% with the introduction of electric- and hydrogen-powered aircraft in coming years. Rex plans to start trials in early 2024 using King Air 200 planes, retrofitted with the new power trains, before later tests with Saab 340 aircraft, Deputy Chairman John Sharp said at a …