Business

BlackRock says 17% of assets sustainable under EU rules

The world’s biggest asset manager BlackRock told clients on Wednesday that 17% of the 2 trillion euros ($2.4 trillion) in assets it manages covered by new EU environmental, social and governance rules are classed as sustainable. However, 70% of the funds launched or repositioned in Europe this year should meet the new threshold, it told […]

Business

Conagra in talks to sell hot dog brand Hebrew National to JBS

Slim Jim beef jerky maker Conagra Brands Inc is in talks with Brazilian meat processor JBS SA to sell its Hebrew National hot dog brand, the Wall Street Journal reported, citing people familiar with the matter. A deal, which could also include the liquid egg white brand Egg Beaters and sausage product brand Odom’s Tennessee […]

Business

Key Treasury auction could determine direction of yields

Investors concerned about demand for U.S. Treasury debt will be watching Wednesday’s 10-year auction for clues to where yields in the recently volatile market may be headed. The U.S. Treasury Department has increased debt issuance dramatically in the last year to fund coronavirus stimulus endeavors. Roughly $3.6 trillion of new government paper was issued in […]

Business

Iran slips record volume of oil into China, reaches out to Asian clients for trade resumption

Iran has quietly moved record amounts of crude oil to top client China in recent months, while India’s state refiners have added Iranian oil to their annual import plans on the assumption that U.S. sanctions on the OPEC supplier will soon ease, according to six industry sources and Refinitiv data. U.S. President Joe Biden has […]

Business

With $1,400 stimulus checks set to hit bank balances, stocks could benefit

A chunk of President Joe Biden’s coronavirus relief package is poised to end up in the stock market and could provide a boost for GameStop and other stocks embraced by individual investors active in online social media forums. The relief package, which is on track to be signed into law later this week, is set […]

Business

Volkswagen strategy chief Jost quits to focus on building smart boats

Volkswagen strategy chief Michael Jost will quit after more than a decade with the group, he said on his website, adding he would now focus on building smart boats with his family. “Since 1996 I am leading a weekend-marriage and -family. Now corona has brought me home and we’ve realised that we can live together. […]

Business

Siemens completes sale of Flender unit to Carlyle Group

Siemens has completed the sale of its Flender mechanical and electrical drive systems business to Carlyle Group for an enterprise value of 2.025 billion euros ($2.41 billion), the German engineering company said on Wednesday. The deal, which was first announced last October, will go ahead after all the relevant authorities gave their approvals, Siemens said. […]