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Asian markets fluctuate as traders digest China rate cut
Asian markets swung Monday as traders weigh Chinese central bank interest rate cuts aimed at reigniting the world's number two economy, while gold hit a record high on geopolitical concerns. The real interest rate in China is too high."
China's central bank cuts two key rates to boost economy
China's central bank on Monday said it had cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's second-largest economy. The country's top banks on Friday cut interest rates on yuan deposits for the second time this year in another potential boost to spending.
BHP goes on trial in London over 2015 toxic Brazil mine disaster
Australian mining giant BHP goes on trial on Monday over one of Brazil's worst environmental disasters, potentially triggering billions of dollars in compensation to be shared among hundreds of thousands of plaintiffs. The Australian mining giant said the quality of river water contaminated by the fallout has returned to pre-disaster levels.
New rules drive Japanese trucking sector to the brink
Fujio Uemura has to rest after driving fish all night to Tokyo, under new rules that trucking firms and experts say are crippling Japan's logistics sector and risk pushing up prices for consumers. Uemura used to spend mornings collecting fish products at various places in his home region and brought them to Tokyo on his own.
Boeing and workers reach tentative deal to end strike
Boeing and its striking Seattle-area workers have reached a tentative deal to end a more than month-long stoppage, the union said Saturday. The strike by some 33,000 unionized workers, mainly in Washington state, halted work at two Seattle-area assembly plants and production of its 737 MAX planes.
Chinese drone maker DJI sues Pentagon over blacklisting
Chinese drone maker DJI, which dominates the consumer global market, said Saturday it was suing the US Department of Defense, complaining that Washington had "erroneously" included the company on a Chinese military company blacklist.
Indonesia's Prabowo targets growth spurt with big projects
Indonesian President Joko Widodo leaves office Sunday with high approval ratings thanks to strong economic growth, but his successor Prabowo Subianto has bigger ambitions, including an eye-catching $28 billion free meal plan for students. His big campaign pledge is a $28 billion plan to supply tens of millions of schoolchildren and pregnant women nationwide with free meals.
Japan shifting back to nuclear to ditch coal, power AI
Glinting in the sun by the world's biggest nuclear plant, the Sea of Japan is calm now. In addition to the recently built sea wall, an embankment has been enlarged and reinforced.
US budget deficit widens to $1.8 tn, third highest on record
The United States on Friday reported a budget deficit of $1.8 trillion for the past year, widening from 2023's level on greater spending, including for interest on the public debt. In the latest fiscal year, there was a near 30 percent rise in spending on interest on the public debt, largely due to higher interest rates, the Treasury noted.
AFP
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