US said to mull oil exports
The 40-year-old ban on most US crude oil exports will “very likely” be lifted in the government spending bill, and talks on the final budget deal are likely to continue through the weekend, a US Senate aide said on Friday. The aide did not want to be identified due to the ongoing nature of the talks. When asked if it was likely that the oil export ban would be lifted, Senate Minority Leader Harry Reid’s spokeswoman Kristen Orthman said there was no final deal yet.
Canada tightens mortgages
The Canadian government on Friday announced a tightening of mortgage rules to curb overspending on homes in a sluggish economy that could collapse with the burst of a possible housing market bubble. Canadian Minister pf Finance Bill Morneau unveiled the increase in minimum down-payment for government-backed mortgages from 5 to 10 percent for homes priced at more than C$500,000 (US$363,451) to address “potential future vulnerabilities in our housing sector.” Average home prices in Canada rose 8 percent year-on-year in October, according to Canadian Real Estate Association data.
Deutsche to expand Maxblue
Deutsche Bank AG said it is introducing a free software program that would automatically build and manage securities portfolios for German clients, joining companies such as BlackRock Inc and Bank of America Corp in offering cheaper investment products. Germany’s largest lender developed the AnlageFinder product with Fincite — a Munich-based software company — and is to provide the service as part of its Maxblue online investment platform in its home market from next year, Deutsche said.
UK’s ‘AAA’ rating at risk
Ratings agency Standard & Poor’s on Friday said that the risk of Britain leaving the EU could affect its triple-A ranking. Standard & Poor’s, the only major ratings agency to rate Britain as “AAA,” maintained the ranking with a negative outlook due to uncertainties over a coming referendum on Britain’s EU membership. Another agency, Fitch Ratings Ltd, said on Friday that it believed it was most likely Britain would remain in the EU, saying its outlook was “stable.”
Craig Wright bankrupt: report
Craig Wright, the man who has been outed as the possible creator of digital currency bitcoin, was previously issued with a bankruptcy notice valued at A$425,000 (US$305,532) for debts in a liquidated company he was associated with in 2003, the Australian newspaper reported, without saying where it got the information. Wright had a restraining order issued against him after a series of disputes with his former employer, before settling the claim in 2013 and avoiding bankruptcy, the report said.
Carlyle to buy Hunkemoeller
US private equity firm Carlyle Group on Friday agreed to buy Dutch lingerie chain Hunkemoeller from PAI Partners for an undisclosed amount. Hunkemoeller, founded in 1886 in Amsterdam, has more than 700 retail stores across Europe and the transaction is due to be completed in the first quarter of next year.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range