New labor unrest rocked the huge Foxconn iPhone factory in China

Pictures online show hundreds of workers protesting Surveillance cameras and windows were smashed by men with sticks Workers complain of delayed wages and inadequate food Foxconn says work to prevent recurrence of violence SHANGHAI/TAIPI (Reuters) – Hundreds of workers took part in protests at a Foxconn station. (2317.TW) Footage uploaded to social media showed the … Read more

The Italian government approves the 2023 budget of 35 billion euros to boost the economy

The budget finds more than 21 billion euros to tame energy bills Additional energy company profits are taxed at 35%. Includes amnesty for tax arrears, lowering the retirement age Relaunching a bridge project linking Sicily with the mainland ROME (Reuters) – Italy’s new right-wing government approved its first budget on Tuesday, a package focused on … Read more

Younger Chinese are rejecting the factory jobs that underpin the economy

SHENZHEN (Reuters) – Growing up in a Chinese village, Julian Zhou only saw his father a few times a year when he returned for a break from his grueling job at a textile factory in the southern province of Guangdong. For his father’s generation, working in factories was a lifeline out of rural poverty. For … Read more

New York Fed: Bank liquidity may be tighter than expected, with policy implications

Nov. 18 (Reuters) – The way the banking system manages its cash suggests that the financial system may not be as fluid as many now understand it, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a paper from the Reserve Bank said. New York Fed on … Read more

Asia stocks pause as Fed warns of glut

https://tmsnrt.rs/2zpUAr4 Federal Reserve Chairman Waller underestimates the CPI as just a single number Beijing offers property support, COVID steps Biden will meet with Xi at the G20 meeting SYDNEY (Reuters) – Asian stock markets took a breather on Monday after a massive rally last week as a major US central bank warned investors not to … Read more

Doubts about Russia’s exclusive oil ceiling raise insurer’s concerns about ships leaving at sea

LONDON/BRUSSELS (Reuters) – Two senior oil industry executives told Reuters that tankers laden with oil risked being left at sea if insurers did not come up with urgent clarification on an incomplete plan of the Group of Seven and the European Union to cap the price of Russian crude. The Group of Seven, which includes … Read more

Lula’s honeymoon ends with Brazilian markets amid concerns over spending plan

BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva’s short honeymoon with financial markets appeared to be over on Thursday, as he sought to create more room to increase social spending without setting long-term fiscal rules or naming top economic policy makers. . Brazil’s currency and the Bovespa stock exchange benchmark (.BVSP)Which rose last … Read more

Britain froze Russian assets worth 18 billion pounds

Russia bypasses Libya and Iran as prime target of UK sanctions The UK says sanctions are hurting Russia’s military Russia uses chips in kitchen utensils for cabinets The UK government has reported 236 sanctions violations LONDON (Reuters) – The British government said on Thursday it had frozen more than 18 billion pounds ($20.5 billion) in … Read more

Twitter temporarily closes offices as layoffs begin

Employees have to hear by 1600 GMT whether they will be laid off Musk looks to cut nearly half of the workforce – internal plans Employees file a class action lawsuit against Twitter (Reuters) – Twitter Inc temporarily closed its offices Friday after telling employees that they will be notified by email later in the … Read more

The Bank of England has historically raised interest rates despite ‘extremely tough’ expectations.

By David Milliken and Andy Bruce LONDON (Reuters) – The Bank of England raised interest rates to 3% on Thursday from 2.25%, the largest rate increase since 1989 as it warned of an “extremely tough” outlook for the economy. The central bank expects inflation to reach a 40-year high of around 11% this quarter, but … Read more