The plea came days after a group of international bondholders threatened to assert their legal rights against Evergrande, saying they had been unable to engage in any substantial way with the Chinese property company in trouble for months. Advisors to some Evergrande bondholders released a statement last Thursday accusing the developer of withholding crucial debt information and not committing, despite claims to the contrary.
UK steps up support for Ukraine, leads European efforts to deter Russian invasion
LONDON — The United Kingdom has placed itself at the forefront of European efforts to deter a Russian invasion of Ukraine, becoming the first major Western country to join the United States in supplying lethal weapons to Kiev.
In recent weeks, Britain has shipped military equipment to Kiev that analysts say would increase Russia’s risks if it launches a ground invasion into Ukraine and called what it described as Russian efforts to reverse the Ukrainian political system.
Rio Tinto and Oyu Tolgoi Partners reach agreements to advance copper project
Rio Tinto PLC said it has entered into agreements with Turquoise Hill Resources Ltd. and the Mongolian government on the expansion of the Oyu Tolgoi copper mine in the South Gobi Desert, which led the partners to approve the start of underground operations.
Under the agreements, Turquoise Hill will waive a $2.4 billion loan to Mongolian company Erdenes Oyu Tolgoi, while Rio Tinto and Turquoise Hill also pledged improved cooperation with the state-owned company on copper mining, said Rio Tinto. The world’s No. 2 miner by market value said the partners agreed on steps to monitor underground development financing mechanisms and improve environmental, social and governance issues, while approving a new agreement to electricity supply.
On the brink of war with Russia, Ukrainians are resigned and prepared
KYIV, Ukraine – Computer genius Danylo Kovzhun taught his children how to handle a gun. Confectioner Roman Nabozhniak trains co-workers to run his business so he can focus on fighting the Russians. Bar owner Vitaliy Kyrychenko keeps his gas tank full in case he needs to get out quickly.
Ukraine has struggled to maintain a sense of stability since fully establishing itself as a sovereign country in 1991 and has been at war since 2014. But with 100,000 Russian troops huddled nearby, threatening the biggest war land of Europe since the 1940s, the people there are saying something. feels different this time.
NATO to send ships and jet fighters to Eastern Europe amid standoff with Russia
BRUSSELS and NATO allies are bolstering the alliance’s eastern flank in response to Russia’s military buildup around Ukraine, as the European Union sets out loan and grant plans for Kyiv from worth more than $1.3 billion and that the Pentagon has ordered thousands of troops to prepare for possible deployment.
The moves are part of efforts by the United States and its allies to prepare for what it believes to be an imminent military invasion of Ukraine, which Russia denies it is planning. President Biden held a video conference with European leaders on Monday afternoon to coordinate the transatlantic response to the Russian troop buildup.
Unilever plans job cuts as activist investor Trian takes stake
Unilever PLC plans to cut thousands of jobs as part of a reorganization aimed at speeding up its decision-making, according to a person familiar with the matter, a decision that comes as the owner of Ben & Jerry’s seeks ways to revive the growth.
Unilever chief executive Alan Jope has been under pressure for months to sustain sales growth, but it has accelerated in recent weeks. The Wall Street Journal and others reported over the weekend that Nelson Peltz’s Trian Fund Management LP had acquired a stake in Unilever, just days after the company dropped its $68 billion bid for the Unilever business. consumer healthcare from GlaxoSmithKline PLC, after being pushed back on price.
Omicron is slowing down the global economy, hitting the United States particularly hard
Rising infection rates driven by the faster-spreading Omicron variant of Covid-19 led to a US and global economic slowdown earlier this year, according to surveys of purchasing managers.
The pullback was particularly pronounced in the United States, where the service and manufacturing sectors grew more slowly, according to surveys by data firm IHS Markit conducted in the first weeks of January and released on Monday.
Differences between the US team negotiating with Iran on a nuclear deal
As talks to reinstate the 2015 nuclear deal with Iran reach a critical stage, differences have emerged within the US negotiating team over how tough to be with Tehran and when to walk away , according to people familiar with the negotiations.
US officials confirmed over the weekend that Richard Nephew, the deputy special envoy for Iran, had left the team. Mr. Nephew, an architect of previous economic sanctions against Iran, had advocated a tougher stance in the ongoing negotiations, and he has not attended the talks in Vienna since early December.
Italy will decide their leadership and Draghi’s future
ROME-Italy faces a political headache this week: it needs to fill its two most important leadership positions, but it has only one Mario Draghi.
Mr. Draghi is both the widely respected prime minister of Italy’s bipartisan government and the most credible candidate to become head of state or president of the republic.
GameStop, Meme Stocks Hit by Market Turmoil
Shares of GameStop Corp., AMC Entertainment Holdings and other meme stocks were among the hardest hit by Monday’s market turmoil, the latest blow to many online day traders’ favorite bets.
Increase in IBM sales. The company’s turnaround could take root.
IBM reported strong fourth-quarter results on Monday, with its best sales growth in more than a decade. The results suggest CEO Arvind Krishna’s strategy to bring the legacy tech giant back to growth is starting to pay off.
Over the past year, IBM (ticker: IBM) has restructured its business to focus on its software and consulting units, after divesting its managed IT services business, now known as Kyndryl (KD) . IBM also recently agreed to sell its Watson Health unit to private equity firm Francisco Partners. Although it is still early in the recovery, Wall Street should be encouraged by today’s results.
Meta unveils a new AI supercomputer
Meta Platforms Inc. said Monday that its research team has built a new artificial intelligence supercomputer that the company says will soon be the fastest in the world.
The supercomputer, the AI Research SuperCluster, is the result of nearly two years of work, often carried out remotely during the height of the pandemic, and led by the AI and infrastructure teams at Facebook’s parent company. Several hundred people, including researchers from partners Nvidia Inc., Penguin Computing Inc. and Pure Storage Inc., were involved in the project, the company said.
Google tricked users into location tracking, states say
WASHINGTON-Alphabet Inc.’s Google tricked consumers into logging their location even after users tried to turn off company tracking on their smartphones and web browsers, lawsuits in Washington, DC and three other states allege .
Google falsely told customers that if they objected to the collection of their “location history” or other parameters, Google would not store the places they visited, according to one of the lawsuits, filed Monday in Superior Court of the District of Columbia by DC Attorney General Charles Racine.
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Major events expected for Tuesday
06:00/END: Survey Dec. on the labor force, including unemployment
07:00/UK: December Public sector finance
08:00/SPN: December PPI
09:00/GER: Jan Ifo Business Climate Index
10 a.m./LUX: November trade
11:00/FRA: Quarterly situation of employment in the 3rd quarter of the OECD
11:00 a.m. / United Kingdom: Jan CBI survey on industrial trends
13:00/HUN: Hungarian interest rate decision for January
2:00 p.m. / BEL: business confidence survey in January
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswire
January 25, 2022 00:36 ET (05:36 GMT)
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