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Report: Biden will prohibit new oil drilling activities in large areas of the USA.
President Biden of the USA will order a ban on new offshore Oil & Gas development projects in approximately 0.625 billion acres of US waters, thereby ruling out the possibility of leasing rights for extraction along the Atlantic and The Pacific coasts as well as the eastern Gulf of Mexico. This move aims to permanently protect coastal waters and the Community that relies on them from the risks of fossil fuel development and oil spills. According to informed sources, Biden remains open to new Oil & Gas projects in the central and western regions of the Gulf of Mexico, where extraction has been taking place for decades and currently accounts for about 14% of oil and gas production in the USA. A decision is set to be announced by Biden on Monday.
CHINASILVER TEC intends to acquire a 51% stake in a company engaged in consumer goods trading and E-Commerce.
CHINASILVER TEC (00515) announced that on December 27, 2024, its wholly-owned subsidiary Asia Vets Southern Network Group Limited (a listed subsidiary) entered into a joint venture agreement with Mr. Zhu Jianming and The Pacific Life Sciences Brand Management Company Limited (joint venture company) regarding the subsidiary's proposal to subscribe for newly issued shares (which would account for 51% of the total issued share capital of the joint venture company after the subscription), with a total subscription price of HKD 0.51 million. It is reported that the joint venture company intends to primarily engage in Consumer goods trade and E-Commerce, and before the subscription matter, all of the joint venture company's issued shares were wholly owned by Mr. Zhu Jianming.
MetLife acquires Barbridge Investment, with a transaction value of up to 1.2 billion USD.
USA insurance company MetLife announced on Monday that it has agreed to acquire the global asset management firm PineBridge Investments from The Pacific Century Group for a price of up to 1.2 billion USD. Reportedly, this transaction price includes 0.8 billion USD in upfront cash, 0.2 billion USD in deferred payments contingent on specific financial goals being met by 2025, and 0.2 billion USD in milestone payments linked to multi-year earnings structures. Acquiring PineBridge will also allow MetLife to grow.
Boeing has confirmed that all aircraft programs, including the 737 MAX, have resumed production.
Boeing has announced that it has resumed production of all aircraft programs that were previously paused due to the strike by mechanics in the USA's Pacific Northwest. The company confirmed that production of the popular 737 MAX jet has resumed at the beginning of December, following the end of the seven-week strike involving 0.033 million factory workers. In Everett, Washington, the production of wide-body aircraft, including the 767 and 777/777X models, has also resumed. Stephanie Pope, CEO of Boeing Commercial Airplanes, announced the resumption of production on Social Media.
CEB BANK plans to approve a comprehensive credit limit of 3 billion yuan for Taibao Life Insurance.
CEB BANK (06818) announced that the company plans to grant a credit quota of 3 billion yuan to CHINA TAIPING Life Insurance Co., Ltd. (referred to as Tai Ping Life Insurance), with a term of 1 year, through a credit facility.
Market Chatter: Chinese Brokerages Shuttering Branches to Remain Competitive
Pacific Securities (SHSE:601099) Shareholders Have Earned a 46% Return Over the Last Year
