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VW stops production at German site for first time
The last car rolled off the production line at a Volkswagen site in Dresden on Tuesday, marking the first time in company history that it has stopped production at a German factory as cost cuts bite.
US unemployment rises further, hovering at highest since 2021
The US jobless rate picked up again in November, hovering at its highest level in four years, official data showed Tuesday in a report underscoring a labor market cooldown in the world's biggest economy. There was no October jobless rate as officials were unable to retroactively collect data after the shutdown, which lasted until November 12.
Serbian President blames 'witch hunt' for ditched Kushner hotel plan
Plans to build a hotel on the site of Belgrade's bombed-out Yugoslav army headquarters have been dumped, the country's President said Tuesday, blaming a "witch hunt" for scaring away the investment firm linked to Donald Trump's son-in-law.
China to impose anti-dumping duties on EU pork for five years
China will impose anti-dumping duties on European Union pork imports for five years, but at lower rates than temporary levies in place since September, Beijing announced Tuesday. European producers criticised the imposition of temporary duties on pork in September, denying the dumping allegations.
Economic losses from natural disasters down by a third in 2025: Swiss Re
Global economic losses from natural disasters are projected to have dropped by 33 percent to $220 billion in 2025, despite the damage wrought by the Los Angeles wildfires, reinsurer Swiss Re said Tuesday. The Los Angeles blazes were the costliest-ever wildfire event globally, with insured losses of $40 billion.
Canada plow-maker can't clear path through Trump tariffs
For decades, Arctic Snowplows has sold its Canadian-made galvanized steel products to "anywhere there is snow" across the border in the United States, says company president Mike Schulz. But Canadian sales are only a "fraction" of what the company has historically made in the United States, he said.
Bank of Japan expected to hike rates to 30-year high
The Bank of Japan is expected to hike interest rates Friday for the first time since January, pushing them to their highest level in 30 years and potentially exacerbating turmoil in debt markets. Yields on 30-year bond yields reached a record high in early December, and 10-year yields last week hittheir highest level in 19 years.
EU set to scrap 2035 combustion-engine ban in car industry boost
The EU looks set to scrap a landmark 2035 ban on new petrol and diesel cars on Tuesday, as part of a package of reforms aimed at supporting Europe's embattled auto industry. Set in 2023, the ban was a cornerstone of the EU's environmental Green Deal, which has come under increased pressure from businesses and right-wing politicians as the EU seeks to bolster its industry.
'Waiting to die': the dirty business of recycling in Vietnam
Crouched between mountains of discarded plastic, Lanh strips the labels off bottles of Coke, Evian and local Vietnamese tea drinks so they can be melted into tiny pellets for reuse. In Minh Khai, the owner of a plant producing plastic pellets said domestic supply "is not enough".
AFP
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