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Asian stocks drop as China support plan falls flat, bitcoin hits record
Asian markets fell Monday after China's keenly anticipated plans to support the world's number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week's election win. "Yet President-elect Donald Trump’s policy proposals could lead to heightened macroeconomic volatility.
Asia, the world's economic engine, prepares for Trump shock
Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of factory relocations to the rest of the region.
Trump victory poses challenges for the Fed's independence
Donald Trump's return to the White House could put the independence of the US Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment -- primarily by raising and lowering interest rates.
US farmers gird for trade wars on Trump tariff pledges
Donald Trump's first White House term saw a bruising trade war with China that left a lingering impact on farmers -- and many are bracing for further fallout as the President-elect threatens higher levies on Beijing.
Boeing to face civil trial over 2019 MAX crash
Beleaguered aviation giant Boeing is set to confront another hurdle next week when it faces a civil trial over the March 2019 Ethiopian Airlines crash that killed 157 people. The MCAS was a flight stabilizing system that malfunctioned in both the Ethiopian Airlines and in the October 2018 Lion Air crash in Indonesia, which killed 189 people.
UK rules drivers on Bolt ride-hailing platform are employees
UK drivers using the Bolt ride-hailing platform should be considered employees and have access to rights such as the minimum wage and paid holidays, an employment tribunal ruled Friday. The tribunal said that its ruling applied to all drivers who used Bolt as their only platform for finding customers.
European businesses brace for Trump return
The return of Donald Trump and his protectionist agenda to the White House will likely rock US trade relations with the world, including Europe. The World Trade Organization deemed the tariffs illegal in 2021 but the United States has yet to follow the WTO ruling.
Cartier owner's profit sinks as China sales slump
Cartier owner Richemont posted Friday a hefty drop in net profit for the first half of the year as watch sales sank in China, where weak consumer spending has hit the luxury sector. Gucci owner Kering said its sales sank 15 percent in the same quarter due to slowing consumer spending in China.
UN aims to set standards for scandal-hit carbon markets
Governments could finally approve new UN standards for countries and companies wanting to trade carbon credits, a long-awaited decision some hope can bring credibility to a scandal-ridden sector. Observers say it is possible that the text laying out standards for the voluntary system could pass more easily than decisions covering country-to-country carbon trading.
AFP
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