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  Bloomberg In the tropical climate of China’s Yunnan province, scientists are planting a key ingredient to help strengthen the country’s position as the world leader in wind power: balsa trees. Balsa, best known as a craft material for making model airplanes, is a major component of giant blades for wind turbines. China’s $60 billion wind industry sources almost all ...

Bloomberg The price of powering Europe next month declined as more favourable weather conditions are set to increase generation of renewable energy. Rising wind-power generation has eased the pressure on near-term prices, which has filtered through to month-ahead values, according to Sabrina Kernbichler, an analyst at S&P Global Platts. German power for February falls as much as 3% to 183.49 ...

  Through the latter decades of the Cold War, there was little cooperation or alignment between the Soviet Union and China. The Russians had a far more developed global military presence, a higher level of ambition to impose their ideology on others, and a much bigger economy. China was primarily focused inwardly, struggling (and eventually succeeding) in lifting most of ...

Taiwan Semiconductor Manufacturing Co (TSMC) spent a record $30 billion last year on factories that churn out the world’s most-advanced chips. It seems that wasn’t enough. This year, it’s decided to up the ante by forecasting a budget of as much as $44 billion. Rivals better watch out. “Every year our capex is spent in anticipation of the growth that ...

The great economic rebalancing between capital and labour is finally here — in banking at least. The share prices of JPMorgan Chase & Co, Citigroup Inc and most other US banks tumbled after both banks reported higher costs for 2021 and predicted more inflation to come, most of which is being driven by higher pay. What is more, the jump ...

At long last, President Joe Biden has settled on a candidate for one of the biggest jobs in global finance: the vice chair for bank supervision at the Federal Reserve. The nominee — Duke University law professor Sarah Bloom Raskin — is a good choice for what will be an immensely challenging assignment. First, it’s worth noting that everyone on ...

  Bloomberg A trade association representing major US airlines asked Transportation Secretary Pete Buttigieg and the nation’s top communications and aviation regulators to prevent wireless carriers from implementing 5G services close to airports. Airlines for America warned in a letter that the traveling and shipping public could see “catastrophic disruptions” if the new C-band frequencies were put into service within ...

  Bloomberg Unilever Plc has held talks with banks about additional financing for a potential sweetened offer for GlaxoSmithKline Plc’s consumer products division, according to people familiar with the matter. Some financial firms have discussed lending enough for a bid higher than 50 billion pounds ($68 billion) — the latest of three offers Glaxo has rejected for a bundle of ...

  Bloomberg Target Corp’s top executive said US consumers will drive less and consolidate their shopping into fewer trips as they adjust to pricier gasoline and the highest inflation rate in almost four decades. Shoppers are also likely to eat more at home and seek cheaper generic-brand goods in an effort to ease the blow from rising prices, Chief Executive ...

  Bloomberg Two former Cathay Pacific Airways Ltd flight attendants were arrested for violating pandemic rules, Hong Kong police said, after they were identified as the source of the city’s Omicron outbreak. The pair were charged under Hong Kong’s Prevention and Control of Disease Regulation and are due to appear in court February 9. Until then, they’ve been released on ...