Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[IPO] JD.com’s healthcare unit, JD Health, is looking to raise $4 billion via an IPO in Hong Kong. The Chinese company said it plans on using the IPO funds to expand its business and increase its research and development.
[Technology] The Government of India banned an additional 43 mobile applications of Chinese origin, a vast majority of which were owned by AliBaba, including AliExpress and TaobaoLive. This comes as tensions between the two countries continue following a border clash in June 2020, leading to the ban of 200 Chinese applications in total. Over60: CNN
[Markets] Major cannabis stocks are soaring once again following the General Services Administration’s announcement that President-elect Joe Biden's transition has formally begun. The uptick is fueled by expectations that the incoming administration will loosen regulations, as well as more US states legalizing sales of recreational marijuana.
[Renewable Energy] Italian energy group, Snam, plans to invest €7.4 billion over the next four years in a bid to reach its net-zero carbon emission target by 2040, mainly by focusing on Hydrogen and other renewables. The energy group also plans on cutting its carbon emissions by 50% by 2030.
[Housing] New Zealand’s central bank will reimpose lending restrictions on mortgages as the country tries to avoid the prospect of a housing bubble. With the median price of a home in Auckland crossing $700,000, the country has seen its housing prices surge by 20% in the last year.