Luckin scandal ripple effect prompts chairman-backed firm to seek cash: sources


HONG KONG/BEIJING (Reuters) – A company linked to China’s scandal-hit Luckin Coffee Inc (LK.O) is seeking fresh capital, sources said, highlighting the ripple effect of Luckin’s fabricated transactions as the chairman of both firms scrambles to avoid a cash crunch.

FILE PHOTO: A Luckin Coffee logo is seen at a closed store in Beijing, following the novel coronavirus disease (COVID-19) outbreak, China, April 16, 2020. REUTERS/Tingshu Wang/File Photo

UCAR Inc, founded by Charles Zhengyao Lu, is looking to sell its limited partner (LP) interest worth 1 billion yuan ($141 million) in Chinese private equity firm Centurium Capital’s yuan

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‘Like watching a train wreck’: The coronavirus effect on North Dakota shale oilfields


NEW YORK (Reuters) – Oil executive Bill Kent was with fellow managers in the Colorado board room of Resource Energy headquarters on April 20 when benchmark U.S. crude prices collapsed to minus $37 a barrel. Sitting six feet apart because of the coronavirus, they knew the pandemic was not only a personal matter.

FILE PHOTO: An oil pumpjack operates near Williston, North Dakota January 23, 2015. REUTERS/Andrew Cullen

It was also a business concern.

“As we were sitting around the board room watching what was happening with prices, it was like watching a train wreck,” said Kent, vice president of

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New North American trade pact to take effect July 1: USTR


FILE PHOTO: U.S. Trade Representative Robert Lighthizer gestures as he speaks during a meeting at the Presidential Palace, in Mexico City, Mexico December 10, 2019. REUTERS/Carlos Jasso

WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed.

In a statement, Lighthizer said both Mexico and Canada had taken measures necessary to comply with their commitments under the U.S.-Mexico-Canada Agreement (USMCA), which replaces the 26-year-old North American Free Trade Agreement (NAFTA).

Some industries, including automakers, had been arguing

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Photos show effect of air pollution drops from global lockdown


Air pollution has dropped to unprecedented levels across the world as major cities and countries impose lockdown measures to curb the spread of the coronavirus. 

More than 2.6 million cases of Covid-19 and at least 183,820 deaths have been documented worldwide, according to Johns Hopkins University. 

As humans stay inside, the environment is temporarily changing: wild animals are roaming the streets and some typically smog-filled skies are clear. 

People in Punjab, India say they can see the snow peaks of the Himalayas, a view that for decades has been blocked by air pollution. New Delhi alone has recorded a 60%

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