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First Republic Bank's rating downgraded to 'B' by Fitch amid cash crunch
The bank is currently operating at a loss and that is not sustainable over the longer term absent a balance sheet restructuring, they said
China Evergrande's EV unit likely to shut down without new funding
The company said it is seeking to cut costs by reducing staff numbers and improving management efficiency. However, "in face of the inability to obtain additional liquidity
Another report coming soon, says US short-seller Hindenburg Research
The latest tweet by the New York-based research firm didn't provide any specifics on the timing of the next report's release, or what it intends to say
PM Modi's green dream at risk as Indian renewables hit by headwinds
Energy transition investments in India already lag behind other major nations, and now the cost of capital is increasing as global interest rates rise
Starbucks Union to greet its new CEO Laxman Narasimhan with 100-cafe strike
The work stoppage comes one day before Starbucks's annual shareholder meeting, the first for new CEO Laxman Narasimhan, who officially took the reins from Howard Schultz this week
 "Starbucks Union to greet its new CEO Laxman Narasimhan with 100-cafe strike")
Spotify has spent less than 10% of its $100 million diversity fund
The initiative got off to a slow start hiring staff and has suffered from shifting priorities, according to people familiar with the effort
 "Spotify has spent less than 10% of its $100 million diversity fund")
UBS is buying Credit Suisse's greenhouse emissions burden too: Report
Just as UBS is sorting through Credit Suisse's assets, properties and personnel, it's also taking on its former rival's carbon emissions
 "UBS is buying Credit Suisse's greenhouse emissions burden too: Report")
Hindustan Zinc's $1.3 bn dividend plan raises concerns over cash use
The Rajasthan-based miner will pay an interim dividend of 26 rupees per share totaling 109.9 billion rupees, according to an exchange filing Tuesday
 "Hindustan Zinc's $1.3 bn dividend plan raises concerns over cash use")
Who are the owners of the risky, worthless Credit Suisse's AT1 bonds?
Big money managers such as Pacific Investment Management Co. and Invesco Ltd. are among the largest holders, owning around $807 million and $370 million, respectively
 "Who are the owners of the risky, worthless Credit Suisse's AT1 bonds?")
China's Xi aligns with Putin against US, but hesitates on big gas deal
Xi saw an opportunity to push back at the US and buttress his image as a global statesman after helping to broker a Saudi-Iran deal, while Putin can show he has the support
 "China's Xi aligns with Putin against US, but hesitates on big gas deal")
Bitcoin set to extend its 70% surge this year if key charts are right
Some analysts argue the token is being viewed as a hedge against the woes in the US and European banking sectors and benefiting from expectations of looser monetary policy
 "Bitcoin set to extend its 70% surge this year if key charts are right")
How Vartika Shukla, the first female leader at EIL, is plotting change
Shukla, who's worked for the company for more than three decades, is attempting to change its profile, branching out from construction of fossil-fuel plants into new areas
 "How Vartika Shukla, the first female leader at EIL, is plotting change")
Ukraine clinches $15.6 billion IMF loan, a first for nation at war
The program will be divided into two phases. In the first, lasting 12-18 months, Ukraine will take measures to strengthen fiscal, external, price and financial stability
 "Ukraine clinches $15.6 billion IMF loan, a first for nation at war")
Silicon Valley Bank Financial must wait to get back $2 billion from FDIC
The FDIC's decision to lock down the $2 billion creates jeopardy in the bankruptcy case, said Tom Lauria, a lawyer representing a large bondholder, Appaloosa LP
 "Silicon Valley Bank Financial must wait to get back $2 billion from FDIC")
Silicon Valley Bank's loans to insiders tripled to $219 mn before it failed
The surge in loans to high-up figures may draw scrutiny as the Federal Reserve and Congress investigate the breakdown of Silicon Valley Bank, the biggest US bank collapse in more than a decade
 "Silicon Valley Bank's loans to insiders tripled to $219 mn before it failed")
Biden to curb China growth for chipmakers getting federal funds
The $50 billion CHIPS and Science Act will bar firms that win grants from expanding output by 5 per cent for advanced chips and 10 per cent for older technology
 "Biden to curb China growth for chipmakers getting federal funds")
Swiss are on the hook for $13,500 each on Credit Suisse bailout
Govt to make as much as 109 billion Swiss francs available - a burden on the nation of 8.7 million
 "Swiss are on the hook for $13,500 each on Credit Suisse bailout")
Apple seeks reform to India's labor laws to diversify beyond China
Apple is seeking changes in India's labor laws as part of its effort to expand local production, and regional govts are yielding to its request as they are eager to snatch iPhone assembly from China
 "Apple seeks reform to India's labor laws to diversify beyond China")
Neo to partner with OpenAI, Microsoft to give free software, advice to cos
The startups also will get access to researchers and mentors at Microsoft and OpenAI
 "Neo to partner with OpenAI, Microsoft to give free software, advice to cos")
UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover
UBS Group AG jumped as much as 10%, on track for its biggest gain since March 2020, as investor optimism about the takeover of its largest rival gathered pace
 "UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover")