Business

BlackRock's Larry Fink declares climate change a critical factor in corporate performance, suggesting a potential fundamental transformation of financial systems. With nearly $7 trillion under management, the investment giant signals a strategic pivot towards environmentally sustainable investments, highlighting the growing importance of climate considerations in global finance.

Malaysia's palm oil refiners face challenges as India changes import policy, requiring licenses for refined palm oil shipments. The move appears politically motivated, potentially pushing Indian importers toward Indonesian crude palm oil due to competitive pricing.

Microsoft CEO Satya Nadella criticized India's new Citizenship Amendment Act, calling it "sad and bad" during a New York event. The India-born tech executive expressed concern about the legislation, highlighting his hope for immigrant opportunities in technology and business.

The Competition Commission of India (CCI) is investigating e-commerce giants Amazon and Flipkart for potentially unfair business practices. A trade group alleges the companies provide preferential treatment to select sellers, offer substantial discounts, and prioritize their in-house brands through strategic arrangements with manufacturers and platforms.

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman reassures global markets by committing to stable oil production of over 9 million barrels per day amid growing geopolitical tensions. The Kingdom aims to ensure sustainable supply and demand in the oil market.

Flybe continues to operate normally despite media reports of potential financial challenges. The airline is reportedly in discussions with government departments about emergency financing while refusing to comment on collapse rumors. The company remains focused on providing uninterrupted service to its customers.

Despite month-long pro-democracy protests, Hong Kong's financial system stands strong. Chief Executive Carrie Lam highlights the city's economic resilience, drawing lessons from past financial crises and maintaining its global financial hub status.

Founded in 1881 in Bournemouth, Beales department store is at risk of closing all 22 locations after struggling during recent holiday trading. Management is negotiating with potential buyers, including a rival retailer and a capital investor, and discussing rent reductions with landlords to prevent complete shutdown.

Facebook maintains its controversial stance on political advertisements, rejecting calls to fact-check campaign content. Company official Rob Leathern argues that private companies should not unilaterally decide political ad policies and urges legislators to develop comprehensive digital advertising regulations.

The United States and China have committed to resolving economic tensions through semi-annual comprehensive talks. Led by Treasury Secretary Steven Mnuchin and Vice Premier Liu He, these dialogues aim to address trade disputes and restore business confidence after a prolonged trade war.