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Daily Update: May 13, 2021 | S&P Global

Subscribe on LinkedIn to be notified of each new Daily Update a curated selection of essential intelligence on financial markets and the global economy from S&P Global. The fallout from the Greensill Capital and Archegos Capital Management scandals is continuing to reverberate across the financial services industry likely resulting in a stricter risk management landscape. The collapse of the London-based supply chain finance company Greensill, which filed for insolvency in early March after maintaining a valuation in the billions just a few years prior, marked one of the most shocking firm failures in more than a decade. In the same month, Archegos, the family office of investor Bill Huang, couldn’t meet multiple margin calls, prompting a widespread sell-off that closed the family office, lost Mr. Huang between $8 billion-$20 billion in less than two weeks, and cut millions from major global banks’ first-quarter earnings. Both incidents may make trade credit insurers more cauti

China Under Pressure to Cancel Coal Projects

Reuters As China awaits a reckoning over climate change targets, environmental groups are turning up the heat over the country s construction of coal-fired power plants. China s continuing construction of coal plants has become a make-or-break issue for climate researchers and advocates as the government prepares plans to meet President Xi Jinping s goals for peaking carbon emissions before 2030 and achieving carbon neutrality before 2060. How China addresses the apparent contradiction between its massive coal-fired build-out plans and its net-zero emissions plan may become one of the biggest challenges in efforts to limit the rise in global temperatures and meet climate targets, Reuters said.

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