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Showing posts with the label Business

News | Business: French Oil Giant Total Rebrands in Shift to Renewables. French oil giant Total rebrands in shift to renewables Published Aprox.: 22 minutes ago image copyright Getty Images Oil and gas giant Total will be rebranded as TotalEnergies as it shifts some of its focus towards renewable energy sources. Shareholders voted overwhelmingly in favour of the move. However, the firm may face a revolt later over whether it is doing enough to diversify away from its core fossil fuel businesses. Big energy firms are coming under increasing pressure to adjust to a lower-carbon world. Shell ordered to cut emissions in key court ruling Global ban on new gas boilers from 2025 proposed Total is putting forward a motion on environmental goals, including reaching carbon neutrality by 2050. But several small investors say they plan to vote against the motion. The vote will be watched carefully after upsets earlier this week at two other energy giants. On Wednesday, a small hedge fund investor succeeded in ousting two board members at Exxon in the US

News | Business | Tech: AppLovin Corp. Faces Critics By Analysts. AppLovin Faces Analyst Coverage as Year’s Weakest Mega IPO Katrina Lewis, Ryan Vlastelica 3-4 minutes AppLovin Corp. shares have shown few signs of life since its Wall Street debut on April 15, and now analysts get to weigh in. The mobile-apps company is worst performing IPO of its size, and just one of two U.S. listings that raised at least $2 billion this year to now be trading below its offering price, according to data compiled by Bloomberg. The stock has dropped 29% since its trading debut and stands at about $57, well below its offering price of $80. Now, AppLovin is set to receive a wave of initiations from analysts at underwriting banks as mobile-game makers face a “double whammy” of changes to Apple Inc. ’s operating system and difficult year-ago comparisons after the pandemic fueled a surge in industry growth, according to Bloomberg Intelligence.

News | Business | China: China Exports Surge as America Recovery From Pandemic, impulse Demand. China's exports soar as US recovers and India stalls BBC News 2-3 minutes image copyright AFP Contributor China's exports unexpectedly surged last month as America's speedy recovery from the pandemic spurred demand. Stalled factory production in India, as the country struggles with a coronavirus crisis, also helped boost the global market for Chinese goods. China's exports in dollar terms surged by more than 32% from a year earlier to almost $264bn (£190bn). In the same month imports grew at the fastest pace in more than a decade, rising by 43% from a year ago. Despite ongoing trade tensions with the US and other countries, China's exports for the month were almost $43bn more than its imports, a more than threefold increase. Economists highlight that the figures are heavily skewed as they are compared to the period a year ago when the country was brought to a v

News | Business: Leaders Fund Effort Against Discrimination by NYT.

  Business  Leaders Fund  Effort  to  Fight  Discrimination A  new  foundation is  starting  with $250 million in backing from influential executives and major  companies . Jerry Yang, a Yahoo co-founder, is among the backers of the newly formed Asian American Foundation. Credit... Brendan McDermid/Reuters Some of the wealthiest and most influential Asian-American  business  leaders are mounting an ambitious  plan  to  challenge  anti-Asian discrimination, rewrite  school  curriculums to  reflect  the role of Asian-Americans in  history  and  collect   data  to  guide  policymakers. The group has pledged $125 million to a  new  initiative, the Asian American Foundation. The foundation has  raised  another $125 million from organizations like Walmart,  Bank  of America, the Ford Foundation and the  National   Basketball   Association . It is the  single   largest  philanthropic  gift  devoted to Asian-Americans, who  make  up about 6 percent of the U.S. population but  receive   less  t