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Indian start-up valuations are slashed by global investors

Global asset managers are slashing their valuations of high-profile Indian start-ups in their portfolios, with writedowns approaching 50 per cent for former investor favourites such as tutoring company Byju’s and food delivery service Swiggy, US securities filings show. The new estimates highlight the changing fortunes of Indian start-ups after a boom in 2021 and early 2022…
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31 May 2023 0

Exxon and Chevron shareholders cut support for climate resolutions

ExxonMobil and Chevron shareholders solidly rejected climate change proposals at the US oil majors’ annual meetings on Wednesday, scaling back support from last year and splitting with results at peers in Europe where resolutions related to global warming have won stronger support. Only 11 per cent of Exxon shareholders supported a petition calling for the…
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31 May 2023 0

Earth past its safe limits for humans, scientists say

The earth is already past safe limits for humans as temperature rise, water system disruption and destruction of natural habitats have reached boundaries, a study by a group of the world’s foremost scientists has found. The research, published in the journal Nature on Wednesday, identified eight earth system boundaries that included climate, biodiversity, water, natural…
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31 May 2023 0

Drax faces formal investigation over wood pellets burnt for power

The UK’s energy regulator has launched a formal investigation into power company Drax over whether the wood pellets burnt to generate electricity in its plant breached sustainability rules. Ofgem last year began examining whether Drax had complied with the UK’s biomass sustainability rules, and escalated the probe into an investigation announced on Wednesday. Shares in…
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31 May 2023 0

Foxconn: party animal is latest tech group to become an AI lister

Some uncool people have a knack of turning up at all the coolest parties. In the world of tech, that applies to Foxconn. On Wednesday it became the latest business to feature as an AI lister, via its relationship with US artificial intelligence chip group Nvidia. Foxconn is a theoretically prosaic contract manufacturer listed in…
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31 May 2023 0