Year: 2019

The Organization of the Petroleum Exporting Counters and its allies, known as OPEC+, may consider wrapping up their oil output reduction in 2020, Russian Energy Minister Alexander Novak said on Friday. Russia’s energy ministry said that Novak was referring to 2020 when talking about a possible decision to wrap up production curbs “this year”. OPEC+ has been capping its output since 2017 in order to balance out the supply and demand on the global oil market as well as prop up oil prices. …read more […]

(Bloomberg Opinion) — The next big thing for big tobacco has turned into a bit of a nightmare. Vaping took off as a potentially healthier alternative to smoking for adults looking to kick the habit. But then it caught on with a whole new generation, sparking a teen epidemic in the U.S and fears that they could graduate to smoking traditional cigarettes. Matters worsened with a spate of illnesses among some users of electronic cigarettes, raising questions about the safety of vaping for young and old.In the U.K., the fallout from declining sales of tobacco alternatives across the Atlantic has …read more […]

(Bloomberg) — Tesla Inc. won exemption from a 10% purchase tax for its China-built Model 3 sedans, a potential boon for Elon Musk’s company as it prepares to begin deliveries of locally manufactured electric cars in the country.The Model 3 was included on a list of models qualifying for the exemption published by the Ministry of Industry and Information Technology on its website Friday. An exemption means buyers will need to shell out less. Tesla said in October the locally built Model 3 will be priced from about $50,000.Chief Executive Officer Musk is counting on Tesla’s new China plant to …read more […]

Several local authorities in China’s capital city, Beijing, have jointly issued a new risk warning on cryptocurrency trading activities. The Beijing Local Financial Supervision and Administration Bureau, the Business Management Department of the People’s Bank of China, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau, have all asked firms not […]The post Beijing authorities issue warning: Firms must not conduct crypto business appeared first on The Block. …read more […]

The 2010s was a lost decade for shares of U.S. energy companies overall. Volatile commodity prices amid growing supply, poor financial performance and disfavor from some investor groups all contributed to the energy sector’s transformation from investor darling to investor outcast. U.S. crude prices fell more than 20% during the 2010s, while the rise of alternative energy also brought pressure, with some stock buyers shunning fossil fuel investments as socially irresponsible. …read more […]

The sixth prototype of China’s home-built C919 narrowbody passenger plane completed its first test flight on Friday, marking a milestone in the programme’s testing schedule as China races to compete with Airbus SE and Boeing Co. The sixth prototype is the last test plane its manufacturer, the Commercial Aircraft Corp of China Ltd (COMAC), has planned for the programme and was scheduled to fly before the year-end. Currently, there are five test planes that are conducting test flights elsewhere in the country. …read more […]

SINGAPORE/BEIJING (Reuters) – As China struggles to deal with the slowdown of the world’s second-largest economy, it has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies. Since 2018, President Xi Jinping has put 12 former executives at state-run financial institutions or regulators in top posts across China’s 31 provinces，regions and municipalities, including some who have grappled with banking and debt difficulties that have raised fears of financial meltdown. Among financial experts recently promoted is Beijing vice mayor Yin Yong, a former deputy central bank governor, and Shandong deputy …read more […]

Many are chopped up, ground down and fed to plants and animals. …read more […]

Astellas Pharma Inc has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Japan’s second biggest drugmaker by sales paid $120 million upfront for Xyphos and the rest will be milestone payments, the companies said in a statement. Astellas also said this month it had agreed to purchase Audentes Therapeutics Inc for about $3 billion to expand its push into genetic medicines. …read more […]

Astellas Pharma Inc has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Japan’s second biggest drugmaker by sales paid $120 million upfront for Xyphos and the rest will be milestone payments, the companies said in a statement. Astellas also said this month it had agreed to purchase Audentes Therapeutics Inc for about $3 billion to expand its push into genetic medicines. …read more […]