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HONG KONG: Just five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, a stunning reversal as it bends to Chinese regulators angered by its U.S. IPO.
The lack of workers is hitting industries hard, with some businesses struggling to reopen. All parties should work together to affect systemic changes so that the country’s recovery is not derailed.
OMICRON won’t stop investors betting on a post-pandemic world but it delays the “all clear” – possibly dampening the worst of the winter inflation scare and avoiding reflex policy reactions.
LONDON: Copper prices fell to a two-week low on Tuesday as worries about the damage to demand and economic growth from the Omicron coronavirus variant and monetary policy tightening in the United States weighed on sentiment
NEW YORK: Federal Reserve (Fed) chair Jerome Powell, in his first public remarks on the Omicron variant of the coronavirus, says it poses risks to both sides of the central bank’s mandate to achieve stable prices and maximum employment.
BEIJING: China’s factory activity unexpectedly picked up in November, growing for the first time in three months as the crippling surge in raw material prices and power rationing eased, taking some pressure off the manufacturing sector.
BEIJING: China's factory activity unexpectedly picked up in November, growing for the first time in three months as raw material prices fell and power rationing abated, taking some pressure off a manufacturing sector grappling with soft demand.
NEW YORK: U.S. employers probably added more than half a million workers for a second straight month in November, pushing the labor market closer to a full recovery despite swirling inflation worries and persistent Covid-19 infections.
THERE’S already too much money chasing too few assets and yet even the most sober investors seem ready to add to the problem.
HONG KONG/BEIJING: A government body has taken over China Evergrande Group's soccer stadium with a view to selling it, a person with direct knowledge of the matter told Reuters, as the debt-laden property developer scrambles to meet liabilities.