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Officials said Thursday that the Federal Reserve Board will work with six major U.S. banks on a pilot program to analyze climate risk. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo will all take part in the pilot, which is part of the Federal Reserve’s effort to figure out the…
Hong Kong is building a new generation of ferries that will be some of the best for the environment. The nine high-speed passenger ships can carry more than five million people each year between Hong Kong and the nearby islands of Lamma Island, Peng Chau, and Hei Ling Chau along three routes. Under the Hong…
According to grocery store chain Kroger Co., it has informed Express Scripts, a division of Cigna Corp., in writing of its intention to terminate the pharmacy provider agreement for commercial clients due to an “unsustainable” pricing strategy. Since February, Kroger has made repeated attempts to negotiate a “more equitable and fair contract” with the pharmaceutical…
In July, Canada’s gross domestic product grew by 0.1%, which was better than what was expected, which was a drop. Growth in mining, agriculture, and the oil and gas sectors made up for a drop in manufacturing. Statistics Canada said on Thursday that the oilsands sector’s contribution to the economy went up by 5.1% during…
This week, Porsche is going public, and each share will cost €82.50 ($79.89), which is at the top of the company’s price range. The Volkswagen Group will sell 12.5% of the company’s non-voting shares as part of its initial public offering (IPO). This will raise about €9.4 billion ($9.1 billion) and put the automaker’s value…
Bosch is known for making some of the best mid-drive motors on the market. The Bosch Performance Line CX Race Limited Edition is its new race-oriented drive system.The Race Limited Edition is an improvement on the highly regarded Performance Line CX drive system. It is made for racers and riders who want to do well….
The European Commission proposed new rules on Wednesday that would force companies that make software and products with artificial intelligence to pay people who were hurt by their work.A new AI Liability Directive would make it easier to sue for compensation when a person or organization gets hurt or loses money because of drones, robots,…
Porsche AG shares surged on their first day of public trading after Volkswagen raised $9.1 billion in Europe’s largest IPO.Volkswagen lined up investors to acquire shares for a minority position in the creator of the 911 sports vehicle and Cayenne SUV.Volkswagen aims to invest in software and electric vehicles as the auto industry turns to…
The largest drug company owned by Canadians, Apotex Pharmaceutical Holdings Inc., has agreed to be bought by the U.S. private-equity firm SK Capital Partners.Apotex has been around since 1974. It makes more than 300 generic drug products and has nearly 8,000 employees in Canada, the United States, Mexico, and India, among other places. The company…
Sources told The Canadian Press that Ontario wants to extend the life of the Pickering Nuclear Generating Station and is considering a repair that could keep it running for several more decades. This is because a shortage of electricity is coming up in the near future. The nuclear plant, which made up 14% of the province’s…