China’s Fossil Fuel Deadline Shifts Focus to Electric Car Race

September 12, 2017

China will provide a deadline for automakers to terminate sale of fossil-fuel-powered vehicles, becoming the biggest sell to do so in a move that will accelerate the push into the electric car market led by companionships including BYD Co. and BAIC Motor Corp. Xin Guobin, the vice minister of the enterprises and information technology, said the government is working with other regulators on a timetable to end production and sales….

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U.S. Colleges Have $500 Billion to Invest. Now Where Are All the Green Deals?

June 4, 2017

If you guessed that the University of California system would champion “sustainable” investing, you’d be correct. The catch is, the shelves in the sustainable investing aisle aren’t especially well-stocked with opportunities. U.S. college endowments altogether hold more than $500 ­billion in assets, a growing part of which they’ve allocated to sustainable or “impact” investing. Yet they also face something of a paradox: Where, exactly, does one invest that money? The…

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Japan’s BITPoint to Add Bitcoin Payments to 100,000s of Outlets

May 29, 2017

BITPoint Japan Co., the company behind pay for tickets, is planning to give hundreds of thousands of Japanese retail outlets the ability to accept the digital currency. “We’re holding discussions with a retail-related company,” Genki Oda, BITPoint’s president, said in a recent interview. “By going through a company providing payment terminal services to shops, we have the possibility of increasing its use at one stroke. It’s easier than talking to lots of…

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Warning Signs Flash in South Korea as Investors Dump Stock ETFs

May 24, 2017

Cracks are emerging in South Korea’s stock market, which has been showing remarkable resilience to a range of pressures, not least tension with the North. Global investors have pulled $2.17 billion from equity exchange-traded funds focused on South Korea this year, even as those securities have returned 12 percent on average, according to data compiled by Bloomberg. ETF, which aims to closely track the Kospi 200 Index. Net outflows from…

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Madoff Fund Paid Millions to Breeden Firm, Zero to Victims

May 24, 2017

A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff’s Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though. The Justice Department disclosed its payments to Richard Breeden, the Madoff Victim Fund administrator, in response to a Freedom of Information Act request from Bloomberg News. Breeden’s fees, which are being paid from cash in the…

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Uber Plans Millions in Back Pay After Shorting NYC Drivers

May 24, 2017

“Uber’s theft of drivers’ hard-earned wages is the latest in a long history of underhanded tactics in this industry,” said Jim Conigliaro Jr., founder of the Independent Drivers Guild. The guild called on regulators to investigate ride-hailing companies’ payment practices. Uber recently updated its terms of service for drivers. While drivers’ pay is determined according to the time and distance they travel, Uber has begun to experiment with how it…

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Why Warren Buffett Took Out an Ad on the Same Page as One for a Strip Club

May 24, 2017

People obsess over Warren Buffett’s moves in the stock market, analyzing every word he says in the media and regulatory filings for clues about his investments. But even the most sharp-eyed observers could be excused for missing a disclosure he made Friday about American Express Co. The billionaire took out a fine-print ad in the New York Daily News to say he’s seeking permission from the Federal Reserve to hold as…

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SoftBank’s Son Chases Boyhood Dreams With $100 Billion Fund

May 22, 2017

When Masayoshi Son was a boy growing up on Japan’s southern island of Kyushu, he kept a notebook to scribble down new inventions he hoped to create one day. Today, the SoftBank founder has almost $100 billion to invest on making the next big thing a reality. Son’s SoftBank Group Corp. closed the first round of a planned $100 billion investment fund, with money raised from Saudi Arabia, Abu Dhabi,…

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Japan’s SoftBank Says $93 Billion Pledged to Technology Fund

May 21, 2017

Mubadala Investment Co. and Apple Inc. With more than $93 billion committed, the fund — which includes Qualcomm Inc., Foxconn Technology Group and Sharp Corp. — aims to reach $100 billion within six months, SoftBank said in a statement Saturday. Mubadala committed $15 billion, according to a separate statement. The Vision Fund will seek long-term investments in businesses aimed at innovation. SoftBank has relied on borrowing and earnings from its…

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