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Author: admin (Kendrick Williams)
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firm KKR is paying $3.17 billion for 25 percent of Enilive, a biorefining subsidiary of Eni, the Italian national energy company.
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SPOTLIGHT ON CHINA’S ECONOMIC STRUGGLE: LOCAL GOVERNMENT DEBT MARKET SEES RECORD DEFAULT LEVEL
In 2023, local governments floundered in debt and Beijing swooped in with $309 billion in new bonds to pay back those debts. The central government also ordered state-owned banks to lend even more money to those failing municipalities.
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SPOTLIGHT: THE LUXURY INDUSTRY’S VERY BAD YEAR
Cosmetics powerhouse L’Oréal announced third-quarter sales growth of 3.4 percent, a far miss from analysts’ expectations of a 6-percent gain.
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TOP TREND 2024, EV GO FU: AUTOMAKERS TURN TO PLUG-IN HYBRIDS. CONSUMERS TURN AWAY
When consumers slowed their purchases of all-electric vehicles (EVs), they turned to hybrids that run mainly on gas but also draw some power from a battery pack.
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BRICS SUMMIT BUILDS ON DE-DOLLARIZATION
The weaponization of the U.S. led international financial system to punish political adversaries came home to roost in a big way this past week, in the form of the BRICS summit in Kazan.
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BIDEN ADMINISTRATION PUSHES AI FOR MILITARY, SURVEILLANCE
The White House has ordered military and national security agencies to speed their adoption of the most powerful cutting-edge AI systems, including for use in lethal force, according to a new memo sketching out national security plans, Bloomberg reported.