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Chinese Stocks Head for Bear Market as Geopolitical Risks Mount

(Bloomberg) -- Chinese shares fell, pushing a closely watched benchmark toward a bear market, as geopolitical tensions simmer ahead of Donald Trump’s inauguration.Most Read from BloombergWhat Robotaxis Brought San FranciscoNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’The MSCI China Index dropped as

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Hyundai launches $18,000 EV in Japan to penetrate EV-wary market

CHIBA, Japan (Reuters) -South Korea's Hyundai Motor said on Friday it would introduce the cheapest compact electric car in Japan, to penetrate a market dominated by local giants with established petrol and hybrid vehicle technologies. The Japan launch of the Hyundai Inster follows attempts by Tesla and other foreign brands to enter a country seeing a slow take-up of EVs. With the Inster, Hyundai will take a low-price strategy akin to China's leading EV maker, BYD.

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How the wildfires in the Los Angeles area could affect California's home insurance market

The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped issuing residential policies due to the high fire risk. The vast property damage in a disaster-prone state with high real estate prices and an uncertain insurance landscape could make coverage more expensive and even harder to find. One area likely to feel the impact — and encounter challenges rebuilding — is Pacific Palisades, an affluent community sandwiched between the Pacific Ocean and the Santa Monica Mountains.

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Trump-Hit Philippine Stocks Seen Rebounding on Spending, Profits

(Bloomberg) -- Philippine equities are poised for a turnaround after notching the steepest drop in Asia since Donald Trump’s election win, with higher domestic spending expected to boost earnings.Most Read from BloombergWhat Robotaxis Brought San FranciscoNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Buildin

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BlackRock quits climate group as Wall Street lowers environmental profile

BlackRock, the world's biggest asset manager, said on Thursday it will leave the Net Zero Asset Managers Initiative, the latest Wall Street firm to depart an environmentally focused investor group under pressure from Republican politicians. BlackRock, which manages some $11.5 trillion, said that with two-thirds of its global clients committed to cutting emissions to net zero, it had made sense to join groups like the organization known as NZAMI. "However, our memberships in some of these organizations have caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials," leading to the departure, according to a client letter reviewed by Reuters.

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