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REUTERS Reuters Business Original article: Peter Burgess COMMENTARY Peter Burgess | ||
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Russia could buy yuan, rupees, Turkish lira for rainy day fund, central bank says
Reuters Business Russia could buy yuan, rupees, Turkish lira for rainy day fund, central bank says Russia is considering buying the currencies of 'friendly' countries such as China, India and Turkey to hold in its National Wealth Fund (NWF), having lost the ability to buy dollars or euros due to sanctions, the central bank said on Friday. Exclusive: U.S. questioned Cheniere pollution controls during LNG plant permitting U.S. regulators raised doubts about Cheniere Energy's decision to install higher-polluting gas-fired turbines at its Gulf Coast liquefied natural gas terminals in Texas and Louisiana years before they began operating, according to documents reviewed by Reuters. U.S. opens probe into 1.7 million Ford vehicles over brake hose recall U.S. auto safety regulators said Friday they are investigating whether a 2020 Ford Motor Co recall for vehicles with front brake hoses rupturing prematurely is adequate. U.S. House set to give Biden new win with $430 billion bill on climate, drug prices The U.S. House of Representatives will vote Friday on a $430 billion bill to fight climate change and lower prescription drug prices, in what Democrats view as a major political win for President Joe Biden ahead of November's midterm elections. German regulator calls on Allianz to improve controls Germany's financial watchdog BaFin has called on Allianz to improve its internal controls following fraud at its U.S. funds unit, a person with knowledge of the matter said on Friday, the latest development in a scandal that has dogged the company for two years. Exclusive: Malaysia's Tenaga plans $1 billion IPO for its power business Malaysian electricity utility Tenaga Nasional Bhd plans to begin the process next year for a potential $1 billion listing of its power generation business, sources close to the matter told Reuters. Winter diesel shock looms as tanks dry up ahead of sanctions Europe is heading into winter with seasonally low levels of diesel in storage tanks, with major implications for the continent's industries and drivers in the run-up to EU sanctions on Russian crude oil and refined product supplies. Hong Kong's second-quarter GDP shrinks 1.3%, government cuts 2022 forecast Hong Kong's economy contracted 1.3% in the second quarter from the same period a year earlier, government data showed on Friday, following a weak performance in external trade during the period. Investors flock to U.S 'growth' stocks as inflation fears fade, Bank of America says Investors bought $7.1 billion in equities in the week to Wednesday, with U.S. 'growth' stocks recording their largest weekly inflow since December 2021 in a sign that fears over soaring inflation are receding. Australian court orders Google to pay $43 million for misleading users Australia's competition watchdog said on Friday that Alphabet Inc's Google unit was ordered by the country's Federal Court to pay A$60 million ($42.7 million) in penalties for misleading users on collection of their personal location data. RELATED VIDEOS
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