Singapore wealth fund suing Chinese EV maker for faulty disclosure, raising wider concerns about China’s corporate accounting It was a blow to an industry whose rise had seemed inexorable. On October 16, Singapore’s sovereign wealth fund, GIC, announced that it would sue China’s NIO, an electric vehicle (EV) maker, over allegedly fraudulent accounting practices. That … Read more
ASEAN Power Grid is first real initiative that could bring the fragmented bloc together in a meaningful economic way In an era when ASEAN’s unity is often described more as symbolism than substance, the ASEAN Power Grid (APG) stands out as an ambitious vision that could finally bring tangible integration to Southeast Asia. Conceived more … Read more
Construction due to begin in 2027 on what is expected to become UK’s largest publicly owned windfarm Every islander on Orkney is expected to benefit from a major windfarm being built by the local council after it won £62m in financing from the UK’s national wealth fund. All the profits from the project to build … Read more
Andrew Bailey says a close look is needed at the private credit market after collapse of two big US firms The governor of the Bank of England, Andrew Bailey, has warned recent events in US private credit markets have worrying echoes of the sub-prime mortgage crisis that kicked off the global financial crash of 2008. … Read more
Chancellor, who is expected to announce tax rises and spending cuts, says effect of leaving bloc worse than predicted Rachel Reeves has blamed a heavier than anticipated blow from Brexit and austerity for forcing her to take action to balance the books at next month’s budget. In her clearest attempt to draw Brexit into the … Read more
Trump officials are expected to provide further details about a possible deal to import more beef from Argentina later Tuesday. Many GOP senators raised concerns directly with President Donald Trump on Tuesday about his idea to buy more beef from Argentina, according to four Republicans who attended a lunch hosted at the White House. The … Read more
Ex-home secretary says ‘work and teach’ visa, which thinktank finds could help reduce public concerns about immigration, is a ‘serious, pragmatic plan’ The former UK home and education secretary David Blunkett has backed calls for skilled migrants to train British workers in an effort to improve public feeling towards immigration. A report by the Good … Read more
UK government borrowing was the highest for five years in September after rising debt interest costs and higher welfare payments pushed the public finances deeper into the red. Figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between public spending and income – hit £20.2bn last month, up … Read more
Budget uncertainty hits investment but take-up of new space rises amid firms’ return-to-office mandates Construction of offices, shops and warehouses in the UK has fallen to the lowest level in more than a decade amid rising build costs and uncertainty. All commercial sectors have been hit, with construction across office, retail and industrial sectors down … Read more
Polling finds majority consider £1bn funding for Aids, TB and malaria vaccines a UK success story Pressure is mounting on Keir Starmer not to cut the UK’s contribution to the Global Fund to Fight Aids, Tuberculosis and Malaria after polling found 62% of Britons believe the government should maintain or increase its support. The prime … Read more