Finance

Driving Asia's Green Transition: Cathay Financial Holdings Champions Climate Finance at COP29

Cathay Financial Holdings (Cathay FHC) has been actively involved in the UN's 29th Climate Conference (COP29), supporting global efforts to tackle pressing climate challenges. As the sole Taiwanese financial institution to host an event in COP29's Blue Zone, Cathay co-organized the "Asia Finance Event" alongside the World Climate Foundation (WCF). Marking its fourth consecutive year at COP, Cathay FHC uses this platform to engage with global stakeholders from government, industry, and academia, highlighting Asia's role in the climate finance conversation and strengthening its influence in international climate action.

TECH

Four Tech Giants Step In to Prevent California's Budget Crisis

On Wednesday, the Legislative Analyst’s Office (LAO), a nonpartisan advisory body for the state Legislature, released its "Fiscal Outlook" for the 2025-2026 state budget. First reported by Bloomberg, the report provides an analysis of the state's finances and expenditures ahead of Gov. Gavin Newsom's proposed budget submission in January. The outlook brings good news: the LAO projects the budget to be “roughly balanced,” largely due to the strong performance of tech stocks.

While the report initially highlighted an economic slowdown, describing California’s job market and consumer spending as “lackluster” and the state economy as “sluggish,” it also pointed to wage growth among high-income workers—particularly bonuses and stock grants—which is significantly boosting tax revenues and compensating for the shortfall..

CRYPTO

Crypto Industry Competes for Positions on Trump's Promised Council

A number of crypto companies, including Ripple, Kraken, and Circle, are vying for a spot on President-elect Donald Trump's promised crypto advisory council, hoping to influence his planned changes to U.S. policy, according to several digital asset industry executives. During a July bitcoin conference in Nashville, Trump pledged to create the council as part of a crypto-friendly administration. His transition team is currently deliberating on its structure, staffing, and which companies should be included, sources said.