July 4, 2023
United States:
Fed or ECB Policy Error Is Now a Big Risk, Allianz’s Subran Says
The prospect that US or euro-zone policymakers might overdo tightening is now one of the most prominent threats to the global economy, according to Allianz Chief Economist Ludovic Subran.
Speaking to Bloomberg Television, he said his outlook for a so-called “soft landing” hinges on policymakers not going overboard in their drive to tame consumer prices.
Europe:
German Defense Supplier Renk Weighs IPO, Private Sale
Renk GmbH is advancing plans to raise capital — possibly through an initial public offering or private share sale — as the military gearbox maker looks to expand amid Germany’s pledge to increase defense spending in the coming years.
Chief Executive Officer Susanne Wiegand, speaking Tuesday at an event in Munich, said the board is currently weighing a range of options to finance growth and does not want to do it with debt. Wiegand indicated that she would prefer an IPO, but said more analysis is still needed.
Asia:
CATL-Backed Chinese Energy Startup Seeks Funds at $831 Million Value
An energy storage startup backed by Contemporary Amperex Technology Co. Ltd. is considering a round of fundraising that would value it at as much as 6 billion yuan ($831 million) to fuel further growth amid the global clean-power transition, according to people familiar with the matter.
Contemporary Nebula Technology Energy Co. is in talks with financial and strategic investors to raise about 600 million yuan, said the people, who asked not to be identified because the discussions are private. The firm is drawing interest as energy storage systems are core to China’s green push and are part of the country’s most recent five-year plan, they said.
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