Mark Carney is having a deserved moment in the sun. Against many odds, the former Bank of England governor has managed to sign up all major western banks to his Glasgow Financial Alliance for Net Zero, enabling him on Wednesday to announce $130 trillion of private capital directed to meaningful decarbonisation at COP26. The fear of the more progressive members of his new club is what happens should he head off to other things, like running for Canada’s premiership.
What makes a Chinese initial public offering Chinese? Shares of LianBio fell 14% on their first day trading in New York on Monday after raising $325 million. It touts a foreign domicile and U.S. backers but most of its business is in the People's Republic. Investors who once loved such hybrids have good reason to distrust them now.
It’s easier and faster to buy bitcoin, ethereum and dogecoin in India than it is to order a pizza on food-delivery app Zomato . That’s how startups are luring the country’s next generation of investors.
Li Ning is experiencing a runner's high. The Chinese sportswear maker will raise $1.3 billion to capitalise on a stock rally partly fuelled by nationalistic Gen Z. International expansion and brand-building are among the targeted uses for the money, but the company might get more bang for its buck by investing more internally.
There’s merit in India’s refusal to set a net-zero target in the run-up to the United Nations climate conference in Glasgow. The rich world is fixated on plans to become carbon neutral by 2050 or thereabouts. By holding out, Prime Minister Narendra Modi’s government can highlight different priorities.