The European Central Bank said lenders in the region will have to estimate the risk they could face from climate change in both their lending and trading operations when they undergo a stress test next year.
Banks will have to predict how their balance sheets will evolve over 30 years as well as any related losses they could face in the transition to a more sustainable economy, according …
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Technology giants are drawing protests as they aggressively try to shape a new US trade deal with Australia, South Korea and other members of the Indo-Pacific region that account for 40% of global economic output.
Activists, alarmed by the involvement of corporations in drafting the Indo-Pacific Economic Framework, have started a campaign to limit their role in writing the digital chapter…
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At the age of 98, former Secretary of State Henry Kissinger has a whole new area of interest: artificial intelligence. He became intrigued after being persuaded by Eric Schmidt, who was then the executive chairman of Google, to attend a lecture on the topic while a…
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The lunchtime rush is just bubbling at Kedai Kopi hawker center in Singapore’s Clementi neighborhood when Anthony Tan strolls in. The co-founder and CEO of the ride-hailing firm Grab orders himself a Horlicks malt drink, sits at a Formica table, and takes a sweep of the bustling vendors. One catches his eye: a stall selling nasi lemak, the signature Malay dish of fragrant rice cook…
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U.S. inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from…
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It’s been a difficult year for the U.S. economy. While consumer spending remains strong, and there are nearly twice as many open jobs as people looking for work, inflation is at its highest level in decades.
But the Federal Reserve, which sets the nation’s monetary policy, took another step in its attempt to curb those economic strains on Wednesday by raising interest rates th…
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Audrey Leighton Rogers was relieved that she launched her fall collection last week, and not on Monday. Rogers, a Barcelona-based clothing designer and vintage curator, gets 95% of the traffic to her site from Instagram. These days, her income is, she says, 100% dependent on the audience she has built over a decade on the app. And on Monday, when Instagram, Facebook and WhatsApp experienced a g…
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On Tuesday, oil and gas giant BP announced plans to slow its transition away from oil. The move sparked outrage from climate activists, but it shouldn’t have come as a surprise.
Two and a half years ago, after BP announced perhaps the most aggressive plans of any major oil and gas company yet to move away from fossil fuels, I asked Bernard Looney, the company’s CEO, about the …
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OnlyFans, the subscriber-based social media platform, sparked outrage last week when it announced it would ban “sexually explicit” content on Oct. 1. The platform, where sex workers, influencers, and celebrities charge subscribers for access to photos and videos, attributed the decision to pressure from banks and payment processors.
Yet, within a matter of days the company bac…
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From the outset, the planners of the coming United Nations climate conference in Dubai, known as COP28, have worked to put the private sector at its center. The United Arab Emirates has become a wealthy country and global player not only because of its oil wealth but also through a foc…
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