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Emerging markets to lure over $1 trillion in foreign investment in 2017: IIF
NEW YORK (Reuters) – Emerging markets will draw $1.1 trillion of capital flows from non-resident investors this year, the Institute of International Finance said in a report released on Tuesday, ramping up its estimates from earlier this year as a result of increasing global risk appetite and economic growth. It will mark the first time since 2014 that the asset class will see more than $1 trillion of capital flows from foreign investors. The group also projects investment will grow to $1.2 trillion in 2018 as growth continues. “With global
Read MoreFiat Chrysler recalls 710k SUVs; braking could be limited
Fiat Chrysler is recalling nearly 710,000 Jeep and Dodge SUVs in North America because an improperly installed brake shield could let water leak in and limit braking ability. The recall covers 2011 to 2014 Jeep Grand Cherokees and Dodge Durangos. The company says brake booster shields were added as part of a 2014 recall, but a check of warranty claims found that some weren’t installed correctly. In those cases water can cause corrosion or get inside the booster and freeze. That can reduce braking ability, increasing the risk of a
Read MoreSong dynasty bowl shatters world record for Chinese ceramics, fetches $37.7 million in HK sale
HONG KONG (Reuters) – A nearly 900-year-old porcelain Song dynasty bowl smashed the world auction record for Chinese ceramics on Tuesday, selling for HK$294.3 million ($37.68 million) at a Sotheby’s sale in Hong Kong. The small, blue-green item broke the previous record, also set in a sale in Hong Kong, when a 500-year-old imperial “chicken” cup from the Ming dynasty Chenghua period sold for HK$281.2 million ($36.0 million) in 2014, Sotheby’s said. The 13-cm (5-inch) bowl, used to wash brushes, was fired in the famed Northern Song dynasty (960-1127) kilns
Read MoreAscend Performance announces leak in ammonia supply line
(Reuters) – Ascend Performance Materials said on Sunday that it had evacuated several structures after an ammonia product supply line leak in an undeveloped, publicly inaccessible area south of Houston in Brazoria County. The flow of ammonia has been turned off and Ascend, the owner of the supply line, said it was working to repair the line and that several nearby structures were evacuated as a precaution. Air quality in the area is being independently monitored and is at safe levels, it said but noted that depending on wind direction
Read MoreFDA approves Novo Nordisk fast-acting insulin Fiasp
(Reuters) – The U.S. Food and Drug Administration on Friday approved Novo Nordisk’s fast-acting insulin to treat diabetes. The product, known as Fiasp, is designed to help diabetics control post-meal spikes in blood sugar. It is already approved in Canada and Europe. Fiasp, or faster acting insulin asparte, is designed to work faster than existing fast-acting insulin such as Eli Lilly and Co’s Humalog and Novo Nordisk’s own NovoLog, known as NovoRapid outside the United States. Last year the FDA declined to approve the product and requested additional information. Reporting
Read MoreHappy 350,000th birthday: Study pushes back Homo sapiens origins
WASHINGTON (Reuters) – Genetic data from the skeletal remains of seven people who lived centuries ago in South Africa’s KwaZulu-Natal Province is offering intriguing new evidence that our species, Homo sapiens, is older than previously believed. Scientists said on Thursday they sequenced the genomes of the seven individuals including a boy who lived as a hunter-gatherer at Ballito Bay roughly 2,000 years ago. In doing so, they were able to estimate that the evolutionary split between Homo sapiens and ancestral human groups occurred 260,000 to 350,000 years ago. Until recently,
Read MoreExclusive: Immunotherapy developer Dynavax explores options for Hepatitis B drug-sources
(Reuters) – Dynavax Technologies Corporation, a biotechnology company focused on drugs that harness the immune system to combat disease, is reviewing strategic options for its hepatitis B vaccine, which could include a potential sale or licensing deal, people familiar with the matter said. The review is at an early stage and the company has made no commitment to conduct a sale or licensing process, the people said. The company may choose to go forward with its own commercial launch of the drug, they said this week. “We remain fully committed
Read MoreWTO opens panel into alleged Bombardier subsidies at Brazil’s request – Business #CBC
The World Trade Organization (WTO) has agreed to look into allegations from Brazil that the Canadian government has unfairly subsidized Bombardier’s CSeries jet program. The Geneva-based trade body will establish a panel to look into allegations brought forth by the South American nation that Montreal-based Bombardier was the beneficiary of more than 25 government programs to the tune of more than $3 billion US in subsidies, which put Brazilian plane maker Embraer SA at a disadvantage. Bombardier “has received subsidies from local governments that have allowed Bombardier to sell its aircraft at
Read MoreCuts hurt Mexico quake response, outlook ahead of 2018 vote
MEXICO CITY (Reuters) – Spending cuts and a failure by Mexico’s president to upgrade an earthquake alert system hurt life-saving prevention programs and amplified recovery costs after two major temblors this month, current and former government officials said. Although President Enrique Pena Nieto is eager to show a prompt and competent response to the earthquakes, which killed more than 430 people, the budget of recovery agencies is threadbare due to cost-cutting by his administration. Pena Nieto, an unpopular centrist struggling to get a successor from his party or an ally
Read MoreWealthy financiers could gain from Trump’s proposed tax cut for small businesses
WASHINGTON (Reuters) – High-income Wall Street financiers could be unintended winners from a section of U.S. President Donald Trump’s tax-cut plan that is meant to help mostly small, “mom-and-pop” businesses. Trump called on Wednesday for a new “pass-through” tax rate of 25 percent that could mean big savings for owners of sole proprietorships and partnerships who now pay 39.6 percent. But it could also mean a windfall for partners in private-equity, venture-capital and hedge funds, unless Congress can figure out a way to block them from taking advantage of the Read More