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Under60 Daily | 28 August 2020

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.


[World Leaders] Shinzo Abe, Japan’s longest-running PM, is set to resign in September due to health reasons. Abe will be remembered for his economic policy, Abenomics, whose policies will be continued by Japan’s central bank governor, Haruhiko Kuroda.

Over60: WSJ, CNN

[Layoffs] Coca-Cola has begun offering voluntary separation packages to 4000 employees in its U.S. and Canada offices after being financially impacted by the Covid-19 pandemic.

Over60: WSJ, CNBC

[Automobiles] Porsche is set to go ahead with its U.S. launch of new electric cars, despite sales in the country dropping by nearly 20% due to the lockdowns. The company hopes to establish a foothold in the market that is dominated by Tesla.

Over60: F.T. Exclusive

[Cybersecurity] For the fourth day in a row, New Zealand’s bourse (NZX) was forced to freeze trading until 1 pm. The hacker groups behind the NZX attacks were also responsible for similar attacks on MoneyGram, PayPal, and India’s Yes Bank.

Over60: CNN

[Markets] After the Fed announced its accommodative policy stance, yields on the ten years U.S. Treasury trading in Asia rose** by three basis points to 0.7834%.

Over60: F.T. Exclusive

** Bond prices rise as yields fall.

[Green Finance] The German government is expected to sell its first-ever Green Bond to help finance its expenses towards the construction of new railways, bike lanes, and research towards renewable energy. The country plans to raise €6 billion by selling 10-year bonds.

Over60: Bloomberg Quint, FT


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