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July 3 – On July 1, Premier Li Qiang, Secretary of the Leading Party Group of the State Council, chaired a meeting of the Leading Party Group of the State Council to study and implement the spirit of General Secretary Xi Jinpings important speech at the ceremony celebrating the 105th anniversary of the founding of the Communist Party of China and Xi Jinpings thought on Party building. The meeting emphasized the need to strive for new achievements in high-quality development, strengthen initiative and a sense of urgency, and take more forceful measures and actions in building a modern industrial system, accelerating high-level scientific and technological self-reliance, building a strong domestic market, and deepening reform and opening up. It stressed the importance of being pragmatic, responsible, and dedicated to making greater contributions to building a strong nation and achieving national rejuvenation.Indias Trade Minister: Merchandise exports grew by about 15% and service exports grew by about 11% from April to June.The Reserve Bank of India reported that as of June 26, Indias gold reserves stood at $102.54 billion, compared with $107.93 billion the previous week.On July 3, the China Securities Regulatory Commission (CSRC) released a draft for public comment on improving rules for listed companies refinancing. The draft proposes a unified market-based pricing mechanism, requiring all listed companies to determine the offering price based on the first day of the offering period, thus promoting market-based pricing. It also improves lock-up period arrangements to better protect small and medium-sized investors.Market news: The EU says the supplementary objection statement contains new evidence.

Amazon Receives a $8 Billion Loan

Charlie Brooks

Jan 04, 2023 11:23

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Amazon.com Inc. said on Tuesday that it has reached an agreement with certain lenders for an unsecured $8 billion loan.


The loan will mature in 364 days with a 364-day extension option, and the funds will be used for general company purposes.


Amazon (NASDAQ:AMZN) has leveraged multiple funding sources to support capital expenditures, debt repayments, acquisitions, and operating cash needs during the past several months, according to a company spokeswoman who spoke with Reuters.


The online store has braced for a probable halt in growth as rising inflation pushes businesses and consumers to curtail spending. Combined with a strong dollar, this caused Amazon's share price to decline by almost 50 percent in 2022.


It also mentioned workforce reductions for the start of 2023, although the number was not specified. A source told Reuters in November that the company planned to remove around 10,000 workers.


At the end of the third quarter, which ended on September 30th, Amazon had approximately $35 billion in cash and cash equivalents and over $59 billion in long-term debt.


Toronto Dominion was the administrative agent for the credit transaction between DBS Bank and Mizuho Bank, according to Amazon.