Companies with business activities outside of the forest-risk sector had recorded amounts lowered to more precisely present the proportion of financing that can be reasonably attributed to the forest-risk sector operations of the selected company, in the selected areas . Several giant Indonesian palm oil companies small business also have risky mining businesses, which can create further reputational and monetary risks. We call on monetary establishments to strengthen their … Read More

Maersk is paying $3.6bn for Li & Fung’s contract logistics business as the world’s largest container shipping line works to boost its land-based operations.

Flush with cash from record high shipping freight rates, the Danish group is seeking to go beyond its core ocean business and add on everything from ecommerce capabilities to road and air freight.

Maersk is buying the contract logistics part of LF Logistics, a Hong Kong-based company owned 78 per cent by parent group Li & Fung and Temasek holding the rest. It will also enter into a strategic partnership with Li & Fung.

“The acquisition

Read More

Senate Democrats will meet on Tuesday for tense talks to try to chart a path forward for Joe Biden’s $1.75tn Build Back Better package, after fellow Democrat Joe Manchin all but torpedoed the president’s economic agenda.

Many lawmakers have already returned to their home states for the Christmas period. But Chuck Schumer, the Senate’s top Democrat, said Democrats in the upper chamber of Congress would hold a “virtual special caucus” call on Tuesday evening — which the Senate majority leader noted would be the “longest night of the year”.

In a letter to colleagues on Monday, Schumer placed the blame

Read More

Shop for strong Malbec wine, produced in the foothills of Mendoza, Argentina. Discover knick-knacks and objects of interest for sale — countless kinds from over fifty countries! Don’t neglect entertaining necessities, gourmand goodies, festive aptitude for the holiday season, and do-it-yourself crafts for the house design of your desires. Every room, each theme, every season, every day, World Market provides the best furnishings. Eclectic and complicated, yet fun and recent, our well-priced assortment retains the choices infinite and entirely … Read More

© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus MordanT/File Photo

By Noah Browning

LONDON (Reuters) -Oil prices slumped by about $3 on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand.

futures fell by $2.79, or 3.7%, to $70.73 a barrel by 1330 GMT while U.S. West Texas Intermediate (WTI) crude futures were down $3.26, or 4.6%, at $67.60.


Read More

The Turkish lira continued its freefall after President Recep Tayyip Erdogan rejected warnings from business about the dangers of recent interest rate cuts and vowed there was “no going back” from his approach.

The currency, which has lost 50 per cent of its value against the dollar since Erdogan ordered the central bank to start lowering borrowing costs in September, fell to a new record low of 17.5 against the dollar after markets opened on Monday. The lira’s more than 6 per cent fall was much worse than the 0.2 per cent dip for MSCI’s broad emerging market currencies index.

Read More