Didi fears further retaliation from China’s regulators
Didi Chuxing is set for further punishment from Chinese regulators after the bus giant became a major target of Beijing’s crackdown on the country’s tech giants. The company’s management remains concerned that it is in line for additional sanctions, four Didi employees told the Financial Times, even after China’s Cyberspace Administration last month issued an 8 billion fine of Rmb ($1.18 billion) for the country’s “serious” and “vile” breaches. data security laws. Whether Didi can free itself from regulatory scrutiny is crucial to the company’s future, after its huge growth was brought to an abrupt halt by probes by the…
Read More »Auditor lists Rural Finance Agency loans for farmers | News, Sports, Employment
GILFILLAN ESTATE – Minnesota State Auditor Julie Blaha spoke about the Rural Finance Authority and the agricultural financing opportunities it offers Wednesday at Farmfest. An RFA board member, Blaha said RFA offers low-interest loan programs to farmers for a variety of activities and partners with local lenders to provide affordable credit to eligible farmers. “Loans through the Minnesota Department of Agriculture are for new farmers and can be a low-cost bridge with low interest rates.” Blaha said. Loan participation programs include basic agricultural and vendor-assisted loans that help younger and beginning farmers purchase farmland. Farm improvement loans finance farm improvements…
Read More »Taiwan’s trade with China is much larger than its trade with the US
Aerial photo of containers in Keelung port, Taiwan. The data shows that Taiwan is more dependent on China for trade than the US Sam Yeh | Afp | Getty Images BEIJING – Data show Taiwan is more dependent on China for trade than the US, even as US House Speaker Nancy Pelosi threw her weight behind Taiwan this week in a visit to high profile Taiwan came under military and economic pressure from Beijing this week, after the democratically self-ruled island allowed a visit by Pelosi, the highest-ranking US official to set foot in Taiwan in 25 years. The visit…
Read More »Auditor lists Rural Finance Agency loans for farmers | News, Sports, Employment
GILFILLAN ESTATE – Minnesota State Auditor Julie Blaha spoke about the Rural Finance Authority and the agricultural financing opportunities it offers Wednesday at Farmfest. An RFA board member, Blaha said RFA offers low-interest loan programs to farmers for a variety of activities and partners with local lenders to provide affordable credit to eligible farmers. “Loans through the Minnesota Department of Agriculture are for new farmers and can be a low-cost bridge with low interest rates.” Blaha said. Loan participation programs include basic agricultural and vendor-assisted loans that help younger and beginning farmers purchase farmland. Farm improvement loans finance farm improvements…
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‘Financial monsters’: China’s bad banks compound housing crisis
To contain the fallout from the Asian financial crisis two decades ago, Beijing created a group of bad banks and bundled them with the country’s most toxic debts. But with deepening distress in China’s property sector threatening to trigger wider economic turmoil, these troubled banks are now scrambling to help. The problem is that the balance sheets of China’s “Big Four” asset management firms—China Cinda Asset Management, China Huarong Asset Management, China Great Wall Asset Management and China Orient Asset Management—have swelled so much that the its capacity is restricted. The groups are “financial monsters,” said Chen Long, a partner…
Read More »CORRECTING and REPLACEMENT SEE announces an upcoming event with the financial community
CHARLOTTE, NC–(BUSINESS THREAD)–Directly after the first paragraph, the name of the conference should read: Jefferies Industrials Conference (instead of: Goldman Sachs Industrials and Materials Conference). The updated version says: SEE ANNOUNCE THE NEXT EVENT WITH THE FINANCIAL COMMUNITY SEE (NYSE: SEE) will participate in the following event with the financial community. The executive team will discuss the company’s growth strategy focused on automation, digital and sustainability and the performance of its SEE operating engine. Jefferies Industrials conference August 9, 2022 New York, NY 8:00 am ET – Fireside Chat Chris Stephens, Vice President and Chief Financial Officer Emile Chammas, SVP…
Read More »Democrats say they have reached an agreement on the economic package
Senate Democrats have reached an agreement on eleventh-hour changes to their top-priority economic legislation, they announced late Thursday, clearing a major hurdle to moving the measure through the chamber in the coming days. WASHINGTON (AP) — Senate Democrats have reached an agreement on changes to their main economic legislation, they announced Thursday afternoon, removing the main obstacle to advancing one of President Joe Biden’s top election-year priorities. Biden in the chamber in the coming days. Sen. Kyrsten Sinema, D-Ariz., a centrist who was seen as the key vote, said in a statement that she had accepted changes to the measure’s…
Read More »Democrats say they have reached an agreement on the economic package
WASHINGTON (AP) — Senate Democrats have reached an agreement on changes to their main economic legislation, they announced Thursday afternoon, removing the main obstacle to advancing one of President Joe Biden’s top election-year priorities. Biden in the chamber in the coming days. Sen. Kyrsten Sinema, D-Ariz., a centrist who was seen as the key vote, said in a statement that she had accepted changes to the measure’s tax and energy provisions and was ready to “move forward” on the bill law Senate Majority Leader Chuck Schumer, D-N.Y., said lawmakers had reached a compromise “that I think will be supported” by…
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