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

The Fed raised interest rates by 50 basis points, but the peak interest rate could be higher

BENGALURU (Reuters) – The Federal Reserve will drop in December to raise interest rates by 50 basis points, but economists polled by Reuters say a longer period for US central bank tightening and a higher interest rate hike are the biggest. Risks to the current outlook. US consumer inflation unexpectedly fell below 8% last month, … Read more

Retail sales in the United States are rising strongly. Raised GDP estimates for the fourth quarter

Retail sales rose 1.3% in October Core retail sales rose 0.7%; September Sales Review Import prices fell for the fourth month in a row industrial production rose 0.1%; Previous months revised down WASHINGTON (Reuters) – U.S. retail sales increased more than expected in October as households stepped up purchases of cars and a range of … Read more

Amazon is laying off some hardware unit employees as it targets 10,000 cuts

November 16 (Reuters) – Amazon.com Inc (AMZN.O) The company said on Wednesday it had laid off some employees in its hardware group, with a person familiar with the company saying it was still targeting about 10,000 jobs, including in its retail and human resources divisions. The announcement, the first for Amazon since media outlets including … Read more

Debate over the Ukraine war dominates the summit of the Group of 20 major economies

Draft Declaration: “Most” G20 Members Condemn Ukraine’s War Ukrainian Zelensky pushes his plan to end the conflict Indonesia calls for an end to political polarization US President Biden skips a dinner party in Bali NUSA DUA, Indonesia (Reuters) – A Western-led campaign to condemn Russia’s invasion of Ukraine dominated Tuesday’s G20 summit in Indonesia’s Bali … Read more

Biden and Xi clash over Taiwan in Bali but Cold War concerns are tepid

Biden and Xi meet for 3 hours before the G20 Both leaders stress the need to get relations back on track Indonesia seeks partnerships on the global economy in the G20 Ukraine’s President Zelensky addresses the G20 on Tuesday NUSA DUA, Indonesia, Nov. 14 (Reuters) – U.S. President Joe Biden and Chinese President Xi Jinping … 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

Ukraine’s Kherson races to restore energy and water after Russia’s withdrawal

The main infrastructure in Kherson was mined by the Russian ruler The humanitarian situation in Kherson is “extremely difficult” – official Authorities are working to restore vital services Fighting rages in eastern Donetsk, Luhansk regions Kherson, Ukraine (Reuters) – Public utility companies in Kherson are working to restore vital infrastructure that has been scrapped by … 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