Iraq and China started building 15 new cities in Iraq

Iraq and China started building 15 new cities in Iraq

On Friday Iraq broke ground on 30,000 housing units near Baghdad, as part of a $2 billion project in partnership with Chinese firms to build five new cities across Iraq, Bloomberg has reported. The government of Prime Minister Mohammad Shia al-Sudani is seeking to build 250,000 to...
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Aon to Buy NFP for $13.4 Billion

Aon to Buy NFP for $13.4 Billion

Aon said it has signed an agreement to acquire NFP—a middle market property and casualty broker—for about $13.4 billion in cash and stock. “The acquisition of NFP expands Aon’s presence in the large and fast-growing middle-market segment, with capabili...
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India: 135 million Indians lifted out of poverty

India: 135 million Indians lifted out of poverty

The country is maintaining “momentum” as the world’s fastest-growing major economy. India has lifted 135 million people out of poverty in the past five years and remains the world’s “fastest-growing” major economy, Finance Minister Nirmala Sithar...
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Texas Attor­ney Gen­er­al Ken Pax­ton Sues Pfiz­er and Tris for Pro­vid­ing Adul­ter­at­ed Phar­ma­ceu­ti­cal Drugs to Children

Texas Attor­ney Gen­er­al Ken Pax­ton Sues Pfiz­er and Tris for Pro­vid­ing Adul­ter­at­ed Phar­ma­ceu­ti­cal Drugs to Children

The Office of the Attorney General’s Civil Medicaid Fraud Division has sued Pfizer, Inc., Tris Pharma, Inc. and Tris CEO Ketan Mehta for defrauding the Texas Medicaid program by providing adulterated pharmaceutical drugs to Texas children in violation of the...
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Cornell University Study: Exporting US Fracked Gas Is Far Worse for the Climate Than Coal

Cornell University Study: Exporting US Fracked Gas Is Far Worse for the Climate Than Coal

If all proposed export terminals are built, the climate-warming emissions would be equivalent to 532 coal plants. Fed by a glut of methane produced in the vast fracking fields of Texas and other states, the U.S. fossil fuel industry has...
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Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’

Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’

After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative ...
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JinkoSolar’s new PV panel: Conversion Efficiency of 26.89%

JinkoSolar’s new PV panel: Conversion Efficiency of 26.89%

JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has achieved a major technical breakthrough for its 182 mm high-efficiency N-type monocrystalline silicon solar ce...
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FTC:  Amazon made $1 billion through secret price raising algorithm

FTC: Amazon made $1 billion through secret price raising algorithm

Amazon com used a series of illegal strategies to stay on top of online retailing including using an algorithm to push up prices to U.S. households by more than $1 billion, the Federal Trade Commission (FTC) said in a less-redacted...
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BP Q3 profit misses forecast

BP Q3 profit misses forecast

BP third-quarter earnings of $3.3 billion, missing analysts’ forecasts due to weak gas trading results while the firm wrote down a large portion of a U.S. offshore wind project. The results fell well short of expectations for a $4 billion...
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TSMC 2nd Fab in Kumamoto Awaiting JPY 900 Billion in Subsidy

TSMC 2nd Fab in Kumamoto Awaiting JPY 900 Billion in Subsidy

Media reports quoting Yoshihiro Seki, a member of Japan’s House of Representatives, that Japan plans to add JPY 1.49 trillion (US$ 10 billion) to its budget for subsidizing two important semiconductor investment projects, namely, TSMC and Rapidus. Japan ...
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SoftBank’s Arm IPO Valued at $54.5 Billion

SoftBank’s Arm IPO Valued at $54.5 Billion

Arm Holdings’s Nasdaq debut in short: SoftBank plans to sell only 9% of Arm’s shares, and will pledge out a 75% stake for margin loans once the stock debuts. As such, Arm’s tiny float of just 9% is an extreme...
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Chinese Steel Glut Intensifies

Chinese Steel Glut Intensifies

Chinese imports into the U.S. have fallen by 7.9% from August 2022, leading to concerns about sourcing steel and other metals. Chinese imports into the U.S. have fallen by 7.9% from August 2022, leading to concerns about sourcing steel and...
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China becomes world’s No.1 maritime fleet owner

China becomes world’s No.1 maritime fleet owner

China has overtaken Greece as the world’s largest maritime fleet owner in terms of gross tonnage (GT), global shipping information provider Clarksons Research said on Saturday. Greece held that position for a decade, but China’s position as the wor...
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NHTSA Wants 58 MPG Fuel Efficiency Standard By 2032

NHTSA Wants 58 MPG Fuel Efficiency Standard By 2032

National Highway Traffic Safety Administration (NHTSA) announced a proposal to require raising fuel economy standards to 58 miles per gallon. The proposal, from the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), wo...
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Photovoltaic Panels Flooded European Warehouses

Photovoltaic Panels Flooded European Warehouses

Around €7 billion worth of Chinese-manufactured solar panels are currently stored in Europe, which could power approximately 20 million homes per year. Despite this surplus, imports continue to increase, with the first few months of 2023 showing higher impor...
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