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“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes Solar Market

China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in a stock sale amid improvement in its business this year, according to a Hong Kong Stock Exchange filing on Sunday. The glass supplier, whose auto industry cust...
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Indian Billionaire Urges Government To Impose Lockdowns In India As New Covid Deaths Reach Another High

ToplineDespite international aid efforts ramping up, the second wave of Covid-19 infections in India continues to intensify, yielding a new record high for daily deaths on Sunday and prompting an outcry—from businessmen and public officials alike—for government intervention to help ease the rate of infection. Key Facts In a Sunday stat...
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Billionaire Philanthropist Eli Broad Dead At 87

ToplineEli Broad, who amassed a multi-billion-dollar fortune from his home-building and insurance businesses, and used his wealth to fund cultural improvements throughout his adopted hometown of Los Angeles, died Friday at age 87.  Key Facts A spokeswoman for the Eli and Edythe Broad Foundation confirmed his passing to the New Yor...
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Singapore’s Olam To Buy U.S. Spice Maker For $950 Million Ahead Of Unit’s IPO

Singapore-listed Olam International said its food ingredients subsidiary is buying Olde Thompson, a U.S.-based maker of private label spices and seasonings, at an enterprise value of $950 million. The agricultural commodities trader said in February that it has appointed financial and legal advisers to prepare for the initial public offering of...
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Climate Leaders Are Aligning To Net-Zero: What Does This Commitment Mean?

Net-zero climate commitments are all the rage. Former Bank of England Governor Mark Carney recently led the launch of the Glasgow Finance Alliance for Net Zero (GFANZ). The UN-convened Net-Zero Banking Alliance (NZBA) announced net-zero commitments from 43 global banks. At President Biden’s climate leaders’ summit, numerous countries were pressed a...
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Facebook Posts $26 Billion In Revenue, Shattering Wall Street Earnings Expectations On Record Users

ToplineFacebook, the world's largest social media company, posted results for its best first quarter ever Wednesday afternoon, shattering Wall Street expectations thanks to surging advertising revenues despite heightened competition from the likes of Google and threats on the regulatory front. Key Facts Menlo Park, Calif.-based Faceboo...