© AP The Asian Development Bank is launching a new fund that will buy coal power plants in order to shut them down early, taking a new approach to the energy transition. ADB is launching the pilot fund of $2.5bn to $3.5bn, called the Energy Transition Mechanism, that will focus on buying plants in Indonesia,…
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A $5bn “sustainability-linked” bond sold by Teva Pharmaceutical Industries on Tuesday was the largest of its kind, but drew immediate questions from some investors about its environmental and social claims. Sustainability-linked bonds have rapidly grown in recent years, allowing companies to lower borrowing costs for meeting certain agreed objectives. Teva, an Israel-based pharma company, will…
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This article is an on-site version of our #techAsia newsletter and is usually available only with a Premium subscription. Are you currently a Standard subscriber? Click here to switch your subscription to Premium. Not yet a subscriber? You can take out a Premium subscription here Hello and welcome, Mercedes here from Singapore. The Christmas supply…
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ByteDance’s Zhang Yiming is stepping down as chair of the Chinese social media group he founded almost a decade ago, relinquishing his last formal executive position at the company behind TikTok. The 38-year-old’s departure from a formal management role at the company follows a spate of resignations in China’s tech sector as the government steps…
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Shares in Kakao Pay, South Korea’s most popular mobile payments app, more than doubled on Wednesday as the company made its delayed stock market debut. Backed by Ant Group, Jack Ma’s financial technology company, Kakao Pay had planned to go public in August but its IPO was delayed after regulators asked the company to revise…
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Shares in Kakao Pay, South Korea’s most popular mobile payments app, more than doubled on Wednesday as the company made its delayed stock market debut. Backed by Ant Group, Jack Ma’s financial technology company, Kakao Pay had planned to go public in August but its IPO was delayed after regulators asked the company to revise…
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The UK government’s pandemic science advisory group has lost one of its most prominent members. Sir Jeremy Farrar has left Sage, the Scientific Advisory Group for Emergencies, to concentrate on his work as director of the Wellcome Trust, the country’s largest medical charity. Farrar, who has a global reputation as a public health leader, has…
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House Democrats are taking a new approach to convince recalcitrant conservative states to expand Medicaid to low-income adults: threatening funding cuts to hospitals.Under an updated version of the domestic policy package that the House may consider as soon as this week, hospitals in states that don’t expand Medicaid could face a 12.5% cut in funding…
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As US lawmakers look to invest $52bn in the American chip industry, the founder of Taiwan Semiconductor Manufacturing Company calls the plan far too small for rebuilding a complete supply chain in the country. Morris Chang, a US citizen who founded the group that is now the world’s most valuable chipmaker, says it would be impossible for the US to have…
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