Morning offer: crisis in China coming

Nov 28 (Reuters) – A look at the day ahead at Asian markets from Jamie McGeever. Purchasing managers index (PMI) data will be the main economic driver for Asian markets this week, but the tone will be set by the increasingly tense political situation in China. Thousands of people take to the streets in several … Read more

France’s Le Maire: Europe must defend its economic interests against the US subsidy package

PARIS, Nov 27 (Reuters) – France may try to negotiate some exemptions from the levies and limits imposed by the US anti-inflation law, but Europe must act to protect the bloc’s economic interests, said finance minister Bruno Le Maire Sunday. Le Maire will accompany French President Emmanuel Macron on a state visit to the United … Read more

Amazon employees protest on some German, French sites on Black Friday

Actions part of global call by Make Amazon Pay initiative Demonstration calls for better pay Amazon says no disruption to operations BERLIN/PARIS, Nov 25 (Reuters) – Some employees at Amazon (AMZN.O) branches in Germany and France took down tools on Black Friday as part of a global move to target the online retailer on one … Read more

Adidas launches investigation into allegations of misconduct against Kanye West

Nov 24 (Reuters) – Adidas AG (ADSGn.DE) said on Thursday it has launched an investigation into allegations of inappropriate behavior by Kanye West after the German sporting goods manufacturer ended its partnership with the rapper and fashion designer last month. Adidas said it initiated the investigation after receiving an anonymous letter containing several allegations against … Read more

Asian stocks gain despite rising numbers of Chinese COVID cases

SYDNEY, Nov 23 (Reuters) – Asian stock markets were mostly upbeat on Wednesday, despite mounting cases of COVID-19 in mainland China, leaving investors unsure about the extent to which the new outbreaks will affect the reopening of the second-largest economy in the world could slow down. MSCI’s broadest index of Asia-Pacific equities outside Japan (.MIAPJ0000PUS) … Read more

Trump dismissed by New York fraud judge, trial date set

NEW YORK, Nov 22 (Reuters) – A New York judge has scheduled a trial in October 2023 against former US President Donald Trump, three of his adult children and the Trump Organization in a lawsuit brought by New York Attorney General Letitia James accusing them of fraudulently overvaluing the real estate company’s assets and Trump’s … Read more

Bank of Canada says high rates are starting to work, housing and debt are a concern

OTTAWA, Nov. 22 (Reuters) – Higher interest rates are starting to slow Canada’s economy, the Bank of Canada said on Tuesday, putting pressure on highly indebted households and those who recently bought homes on variable-rate mortgages. “It will take time to get back to solid growth with low inflation, but we will get there,” Deputy … Read more

Spain approves mortgage support for more than 1 million households

Measures support vulnerable families with an income limit of 25,200 euros Threshold for medium-sized businesses set at 29,400 euros Measures include extending loan repayments to 7 years Promotions also provide grace periods and refund freezes Plan will be finalized on Tuesday after talks with banks MADRID, Nov 21 (Reuters) – The Spanish government will on … Read more

Analysis: China’s grand reopening may come too late for many businesses

SHANGHAI, Nov 22 (Reuters) – The culinary tourism business of Brian Bergey and his wife Ruixi Hu has held up in China during three years of severe COVID-19 restrictions. But just as excitement in global financial markets mounts that the world’s second-largest economy can finally emerge from its isolation next year, the two pack their … Read more

Dollar Rises as China COVID Concerns Boost Safe Haven Buying

SINGAPORE/LONDON, Nov 21 (Reuters) – The US dollar was solidly higher against major currencies on Monday as rising COVID-19 cases in China led to new restrictions there and weighed on global investor sentiment. China is battling numerous COVID flare-ups. Two deaths were reported in Beijing on Sunday and the city’s most populous district urged residents … Read more