The UK introduced a flexible quota system to encourage carmakers to increase adoption of electric vehicles as the government seeks to phase out sales of combustion-engine cars by a delayed target of 2035.
Fireblocks Inc., the crypto company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based startup that helps financial institutions build blockchain-based systems, people with knowledge of the matter said.
Philip Morris International Inc. Chief Executive Officer Jacek Olczak said the Marlboro maker’s target to get most of its revenue from smoke-free products by 2025 is probably out of reach after growth has been dented in Russia and Ukraine, two of its key markets.
The imminent US government shutdown that threatens to delay the publication of key economic data will test policymakers’ and investors’ trust in a range of less-regarded third-party indicators.
German Chancellor Olaf Scholz played down fears of a potential trade war triggered by the European Union’s anti-subsidy investigation into Chinese electric vehicles, while making a strong case for globalized markets with a level playing field for all participants.
Hawaiian Electric Co.’s chief executive officer told Congress Thursday that the deadly Lahaina wildfire wasn’t the company’s fault, adding that it may take 12 to 18 months to understand the cause.
Sam Bankman-Fried lost yet another bid to be released from a Brooklyn federal jail days before he goes on trial in one of the biggest white-collar criminal cases in US history.
TCW Group Chief Executive Officer Katie Koch expects further dislocation in commercial real estate, a market that has continued to under-perform as US workers remain reluctant to return to the office full time.
NATO Secretary General Jens Stoltenberg made a surprise visit to Kyiv, where he met President Volodymyr Zelenskiy and discussed ways for alliance members to supply additional air defense systems to Ukraine. Zelenskiy reiterated that NATO membership for Ukraine is “only a matter of time.”
Raising money for large private equity funds is the “most difficult the industry has ever seen” as it contends with higher interest rates and tighter liquidity, Onex Corp. Chief Executive Officer Bobby Le Blanc said.
