(Bloomberg) -- China’s central bank used open-market operations to inject the largest amount of cash into the banking system since May, as upcoming corporate tax payments tighten liquidity conditions.The People’s Bank of China on Tuesday net injected 250 billion yuan ($35 billion) via seven-day reverse repurchase agreements, according to a statement. There were no facilities coming due Tuesday, and the central bank kept the rate steady at 2.55%. China’s 10-year bond yield was little changed at 3.22%.The central bank is acting to fine-tune interbank liquidity conditions while it keeps broader monetary-policy settings stable, seeking to keep credit growth appropriate while avoiding rapid debt build-up as the economy slows. The move comes before an Oct. 24 deadline for companies to pay tax, which typically increases the demand for cash and tightens liquidity.The PBOC injected a net 490 billion yuan in the four days through Oct. 25 last year, and acted last week...
(Bloomberg) -- Hundreds of thousands of Californians are once again facing the prospect of a deliberate blackout as utility giant PG&E Corp. tries to keep its power lines from igniting catastrophic wildfires.Forecasts for strong and dry winds has the San Francisco-based power company considering a shutoff to about 201,000 homes and businesses this week. People in 16 Northern California counties may go dark on Wednesday and Thursday, the company said.The threat of widespread shutoffs is hitting just two weeks after PG&E and Edison International’s Los Angeles area utility carried out the biggest planned blackout in California history, plunging more than 2 million people into darkness, halting traffic lights and forcing businesses to shut across the Bay Area. The outage drew outrage from customers and state officials who accused PG&E of cutting service to more customers than necessary and failing to properly communicate its plans.“More and more of our service area is...
(Bloomberg) -- Rio Tinto Group is starting pilot production of lithium in California and will consider an expansion to become the top domestic supplier in the U.S. as the world’s biggest miners look to boost their exposure to the electric car battery revolution.Work to reprocess waste piles from a 90-year-old mining site in Boron has successfully produced lithium carbonate -- needed in rechargeable batteries for electric vehicles and consumer technology -- and efforts are now focused on improving quality and lifting volumes, Rio said Tuesday in an emailed statement.Rio is the first top diversified miner to add lithium output to its portfolio and comes ahead of a looming decision on development of its mine project in Serbia that analysts estimate could account for about 5% of world demand. Demand for lithium will advance about eight-fold to 2030 as EV adoption increases and the battery sector expands, BloombergNEF said in a July...
Hankook Tire has announced that its most popular truck and bus radial products are now available at Love’s Travel Stops, Speedco and on-site Love’s Truck Tire Care locations. ...
