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...Neta, another Jakarta EV show newcomer, revealed its Neta V-II, which will be priced from 200mn rupiah to 300mn rupiah, making it the least expensive model in the company’s Indonesia line-up....
...Yet in the background, the company and plaintiffs’ lawyers were trying to cut a global deal, announced on Wednesday....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...The judge overseeing the 3M litigation had dismissed about 50,000 of up to 300,000 claims and organised 16 bellwether trials to try to set the parameters for a global settlement over a four-year period....
...The decision is a blow to 3M, which had sought to use the US bankruptcy system to limit its exposure to the earplug litigation and seek a global settlement of all current and future claims. 3M shares fell...
...Big companies including the likes of 3M have attempted to use US bankruptcy law as a way to quickly resolve so-called mass torts....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...The judge overseeing the 3M case had dismissed about 50,000 of the 280,000 claims and organised 16 bellwether trials to try to set the parameters for a global settlement....
...Email me your thoughts at sid.v@ft.com. Latest news Amy Kazmin in Rome has a fascinating piece on why Giorgia Meloni is pushing back on Italy’s shift to digital payments....
...global finance the real goal....
...US defence contractors Lockheed Martin and Raytheon also report earnings as demand for their products surges. 3M, Johnson & Johnson and General Electric also report....
...Credit card company Visa also reports on a busy results day that includes Coca-Cola, UPS, Raytheon, General Electric, 3M, and General Motors, Economic indicators: US home prices in 20 big cities are expected...
...A version of this article was first published by Nikkei Asia on July 19. ©2022 Nikkei Inc. All rights reserved....
...Fink’s astute purchase of index fund giant Barclays Global Investors in 2009 has transformed his company BlackRock into the world’s biggest investment group, with almost $10tn of assets under management...
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...But the company remains well behind Disney, whose own Netflix challenger Disney Plus reached 118m global subscribers in October....
...Let us know what you think at imani.moise@ft.com and sid.v@ft.com. A programming note: FintechFT will take a one-week break in observance of the Easter holiday. The next issue will be April 25....
...Chris Spear, head of the American Trucking Associations, said this week that the sector (with around 3m hires overall) is currently short of 80,000-odd workers....
...A version of this article was first published by Nikkei Asia on July 27. ©2022 Nikkei Inc. All rights reserved....
...Parcel analytics company ShipMatrix has predicted that 89.8m parcels will be delivered daily in the peak season between Thanksgiving and Christmas, up from 79.1m for 2020 and 65.3m in 2019....
...“These are all trillion dollar companies competing with each other for supply,” said Johar, who used to run global supply chain systems at HP....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...Earlier this week Lyft announced it had made a profit for a second quarter in a row, reporting adjusted earnings of $67.3m, beating Wall Street estimates of $33m....
...So far this year, Netflix has added only 88,000 subscribers in the US and Canada, compared with 6m in 2020 and 3m in 2019....
...For the same quarter, Ford reported adjusted earnings of $3bn, a drop of 17 per cent after sales were hit by the global chip shortage....
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