Private equity giant Blackstone is hoping to raise $5 billion to invest in life science ventures, according to a proposal the firm sent to the Teachers Retirement System of Louisiana that was seen by The Wall Street Journal.
Tag: Economy
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SPOTLIGHT: CHINA’S SHIFTING ECONOMIC POLICIES
At China’s Central Economic Work Conference last week, officials indicated Beijing will cut interest rates, raise its budget deficit, and lower banks’ reserve requirements next year to make more room for economic stimulus.
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GM PARKS ITS ROBOTAXI PROGRAM
After 10 years and $10 billion in costs, General Motors has abandoned its plan to create a self-driving taxi, saying the costs would continue mounting as competition becomes more intense.
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CHINESE CAR COMPANIES ARE OPENING DEALERSHIPS ACROSS MEXICO
Chinese electric vehicle (EV) makers, including majors BYD, Chery, Geely, and SAIC, are establishing dealerships across Mexico and, according to one Mexico City BYD salesman, the cars are selling as fast as he can get them.
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SPOTLIGHT: BIGS GETTING BIGGER
BlackRock, the world’s largest private equity firm, is complementing its hefty presence in public stock, bond, and commodity markets with additional moves into the private credit business.
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TOP TREND 2024, EV GO FU: EVs MORE RELIABLE BUT STILL LESS SO THAN INTERNAL COMBUSTION CARS
The reliability of electric vehicles (EVs) has surged, a Consumer Reports survey found. EV drivers reported 42 percent more trouble than drivers of internal combustion cars did. However, that represents a major improvement from the 79-percent gap found in 2023.
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CURRENCY CONTROLS HOBBLE ARGENTINA’S FOREIGN INVESTMENT CAMPAIGN
Argentina’s maverick president Javier Milei has assembled a $50-billion package of tax incentives, eased customs regulations, and smoother currency exchange mechanisms to draw foreign investors to help rebuild the country’s broken economy.
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DON’T DUMP THE DOLLAR, TRUMP WARNS BRICS NATIONS
Incoming U.S. president Donald Trump has demanded that the eight-nation BRICS trading bloc abandon ideas of creating a common currency and continue using the U.S. dollar instead.
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CANADA’S JOBLESS RATE INCREASES IN NOVEMBER
Last month, Canada’s unemployment rate rose to 6.8 percent from 6.5 percent in October, Statistics Canada reported, as more people went looking for work in the country’s feeble economy.
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SPOTLIGHT: CRYPTO NATION
On 5 December, bitcoin jumped to an intraday price of $103,800, gaining more than 50 percent since Donald Trump won the U.S. presidential election a month earlier.