Get a behind-the-scenes glimpse at the lives of these content creators and influencers on In The Know: Profiles
Get a behind-the-scenes glimpse at the lives of these content creators and influencers on In The Know: Profiles
A comparison of the top Sonos deals for Cyber Monday, featuring savings on Sonos One speakers and Beam soundbars
Lawyers' baseless arguments of voter fraud "get shredded in any courtroom they’re dumb enough to step into," John Fetterman snapped.
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The top Canon deals for Cyber Monday, including Canon EOS Rebel SL3 and SL2 savings
Australia's economy is expected to have grown by the most in 12 years last quarter, though the country is not out of the woods yet with fiscal stimulus being tapered and coronavirus-hit companies still reluctant to boost spending. Gross domestic product slumped 7% in the previous three months when coronavirus curbs brought much of the country to a standstill. Growth in the current quarter is seen even stronger as the state of Victoria, formerly a COVID-19 hotspot, emerged out of its marathon lockdown in October, while other states broadly reopened in May. Most of Australia, including Victoria, has not seen new community cases for weeks.
Derrick Henry was unstoppable in a win over the Colts. Scott Pianowski sees a strong finish to the season for the Titans star, and fantasy managers relying on him for a title run.
A round-up of the latest Canon G7 X and 5D deals for Cyber Monday, featuring all the latest sales on Canon PowerShot G7 X and EOS 5D Mark II & III
Jae'Lyn Withers scored a career-high 20 points, David Johnson added 19 and Louisville defeated Prairie View A&M 86-64 Sunday night, winning its first three games of the season. Johnson drained his lone 3-pointer in the first half, forging an 18-18 tie to spark a 17-5 run that pushed the Cardinals into the lead for good. Prairie View A&M opened the game with a Jeremiah Gambrell 3-pointer and had led by as many as seven until Johnson and Withers scored nine of Louisville's next 17 points on the way to a 41-31 halftime lead.
Australia's emissions fell 3% in year to June amid Covid shutdownAngus Taylor hails data – but experts say much of fall not related to government action
Japan's industrial output rose for the fifth straight month in October and retail sales in the same month grew the most in over a year, signalling the economy was recovering further from the damage caused by the COVID-19 crisis. The world's third-largest economy rebounded sharply in the third quarter from a pandemic-induced slump, thanks to surging consumption and exports, though some analysts worry about slowing growth ahead due to a resurgence in coronavirus infections. "There's a possibility China-bound exports and output will be sluggish if the United States gets worse, and that would spread to China," said Takumi Tsunoda, senior economist at Shinkin Central Bank Research.
David Warner has been ruled out of Australia’s next one-day international and all three Twenty20 internationals against India because of a groin injury. The aggressive opening batsman was hurt while fielding in Sunday’s series-deciding ODI win at the Sydney Cricket Ground. After scores of 69 and 83 in the first two ODIs, Warner is hoping to recover in time for the test series, which starts Dec. 17 in Adelaide.
China's factory activity expanded at the fastest pace in more than three years in November, keeping it on track to be the first major economy to fully recover from the coronavirus crisis. The official manufacturing Purchasing Manager's Index (PMI) rose to 52.1 in November from 51.4 in October, data from the National Bureau of Statistics showed on Monday. China's vast industrial sector is steadily returning to the levels of activity seen before the pandemic and tough containment measures paralysed huge swathes of the economy early this year.
The big day has finally arrived and it’s the perfect time to save money on sofas, beds, coffee tables and more
The final day is here, and it’s the perfect time to save money on sofas, beds, coffee tables and more
IHS and S&P Global did not immediately respond to Reuters' requests for a comment. S&P Global provides debt ratings of sovereigns, companies, as well as data to capital and commodity markets around the world. The company was formed after U.S.-based IHS Inc bought Britain's Markit Ltd in 2016.
(Bloomberg) -- The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to regulatory officials familiar with the matter.Ant is still in the early stages of reviewing changes needed to appease regulators, who demand that its business comply with a slate of new and proposed guidelines in areas including lending to consumers, the officials said. With so much work needed and some rules not yet spelled out, the officials said the initial public offering may not get done before 2022.An additional delay of a year or more would be another setback for billionaire Ma, as well as the early-stage investors including Warburg Pincus LLC that were counting on a windfall from what was poised to be a record $35 billion IPO. It would also deal a potential blow to Alibaba Group Holding Ltd., which owns a third of Ant and saw its stock tumble after the deal was abruptly suspended this month. Alibaba fell 2.7% in Hong Kong Monday.A representative for Ant declined to comment. Representatives at the central bank, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission didn’t immediately respond to faxes seeking comments.The enormity of the challenge Ant faces restarting its IPO emerged from discussions with officials working across regulators with oversight of financial services and the securities industry. They emphasized that Beijing’s immediate priority was ensuring the fintech giant fall in line with the evolving regulatory environment.China has set up a joint task force to oversee Ant, led by the Financial Stability and Development Committee, a financial system regulator, along with various departments of the central bank and other regulators, two of the people said, asking not to be identified discussing private matters. The group is in regular contact with Ant to collect data and other materials, studying its restructuring as well as drafting other rules for the fintech industry, they said.Fresh CapitalUnder the draft rules for micro-lenders issued in early November, Ant would be forced to replenish capital. That could mean the company needs about $12 billion to comply, according to an estimate from Bloomberg Intelligence.The firm also needs to apply to the China Banking and Insurance Regulatory Commission for new licenses for its two micro-lending platforms: Huabei (Just Spend) and Jiebei (Just Lend). The banking regulator will limit the number of platforms allowed to operate nationally, and is unlikely to approve two licenses for Ant, said the people.Ant will also need to apply to the central bank for a separate financial holding company license since its operations straddle more than two financial segments. Regulators have yet to give clear and specific guidance to Ant, but have told the company it needs to comply with the current regulations and operate under the framework of a financial holding company, according to people familiar.The Hangzhou-based firm is awaiting the final version of the micro-lending rules and expects more regulations on the fintech sector, such as in wealth management, to come over the next few months, one of the people said. In the meantime, the IPO isn’t a priority.Hurdles RemainUnderstanding the authorities’ thinking and navigating the complex rules -- some of which are still subject to change -- are the biggest hurdles facing Ant, whose listing was halted just two days before scheduled debuts in Hong Kong and Shanghai. The highly anticipated IPO had set off an investment frenzy, with soaring demand pushing its valuation to $315 billion, more than JPMorgan Chase & Co.’s at the time.Without any actionable plan agreed upon by all parties, Ant faces an extended pause in reviving the IPO, potentially longer than the few months delay signaled by some analysts and the top executive at Singapore’s DBS Group Holdings Ltd., one of the bankers on the deal. If Ant fails to get the sale done before its IPO filing expires in October, it would have to go through the listing process again in Shanghai and seek new approvals.The landscape is quickly shifting for China’s fintech industry, which until recently offered the most compelling evidence of technology giants using their might -- and a light regulatory touch -- to rewire traditional financial services. With the call for tightened oversight coming from the top leadership, they are now rushing to shore up capital, mulling business overhauls and bracing for more turbulence as industry watchdogs set their sights on areas spanning lending, banking partnerships and data privacy.Ant, the biggest player in online lending, has been the most visible casualty given the abrupt halt to its IPO, shelved just weeks after Ma called out China regulators to adapt to the changing face of finance. Apart from discussions about replenishing capital, Ant is also slowing the pace at which it packages existing loans into asset-backed securities to sell to investors, a person familiar with the matter has said.Analysts including those from Morningstar Inc. have already slashed their estimates for Ant’s valuation by as much as half, eroding potential gains for early investors such as Warburg Pincus, Silver Lake Management LLC and Temasek Holdings Pte.A smaller deal would also mean reduced fees for investment banks including Citigroup Inc. and China International Capital Corp. that were counting on an IPO windfall. The reduced sale gives Ma’s firm less heft to carry out acquisitions as it looks to expand beyond its Chinese base and take the fight domestically to Tencent Holdings Ltd.(Updates with Alibaba shares in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- It turns out the best way to get more women on corporate boards may be to use a floodlight.Regulators began requiring companies on the Toronto Stock Exchange to disclose the number of women they have in senior roles, along with their plans to improve diversity, six years ago.At the time, 67% of the 100 largest public companies in Canada had at least one woman among their directors. As of May this year that had increased to 96%, according to a study by KPMG LLP.Canada’s “comply or explain” approach was a major driver, according to Doron Melnick, a KPMG partner who wrote the report. Still, there’s more to be done.“Corporate Canada has to continue the change and the changes are needed not just in the boards,” Melnick said. “It’s just as important to focus on the level of top management.”Men continue to outpace women at a rate of almost two-to-one for board positions and three-to-one for executive posts, according to the study. During the six-year period, 173 women were appointed to board seats -- including some appointments to multiple boards -- and 108 became executives of Canada’s largest companies. That compared to 332 men added to boards and 339 men appointed as executives.Men who first became senior executives at their company during the period also advanced more quickly, with almost half ending up in C-suite positions compared with 39% of women. Only 2% of those women climbed to the top job.In October, Rania Llewellyn became the first woman ever to lead one of Canada’s eight largest domestic banks.While a number of concerns have been raised about unintended consequences of the comply or explain rule -- the biggest being that companies would promote underqualified women to be “token” directors or appoint insiders -- that’s not supported by the data, Melnick said.And as women are also cutting back their hours more sharply than men during Covid-19, this study is “a call to action to redouble efforts in this area,” he said.“We are in a crisis and we’re very worried about losing momentum,” Melnick said. “We’re worried about a plateau, or possibly a drop, setting back the cause of gender diversity.”(Corrects sixth paragraph to say executive posts)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Whether you’re looking for skincare, hair tools or make-up, now is the time to make some serious savings
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21-year-old leaves Tirol KTM squad to support Mathieu van der Poel at Belgian ProTeam