The global oil market is signaling near-term weakness ahead of the EU ban on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about reduced crude oil demand and oversupply in the market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as China, the largest oil consumer, introduces … Read more

China’s COVID infections hit a record as economic outlook worsens

China hit record high during the Shanghai outbreak in April Cabinet hints at reduction of reserve ratio requirement (RRR) Nomura cuts China’s GDP targets as lockdowns expand Chinese stocks fall, lagging rise in global stocks BEIJING, Nov 24 (Reuters) – China reported a record number of COVID-19 infections on Thursday, with cities across the country … Read more

Foxconn’s huge iPhone factory in China rocked by new worker unrest

Images on the internet show hundreds of workers protesting Surveillance cameras and windows smashed by men with sticks Workers complain about unpaid wages and insufficient food Foxconn says it is working to prevent a recurrence of violence SHANGHAI/TAIPEI, Nov 23 (Reuters) – Hundreds of workers took part in protests at Foxconn’s (2317.TW) flagship iPhone factory … Read more

China widens COVID sidewalks, Apple factory unrest adds to economic concerns

COVID restrictions are increasing as the number of cases increases iPhone factory unrest adds to economic concerns, highlights frustrations Analysts warn of potential for wider lockdowns BEIJING, Nov 23 (Reuters) – Chinese cities imposed more curbs on Wednesday to curb rising coronavirus cases, heightening investor concerns about the economy as new unrest at the world’s … Read more

Third Japanese cabinet minister in a month resigns in blow for prime minister

TOKYO, Nov 21 (Reuters) – Japan’s interior minister resigned on Sunday over a funding scandal. He is the third cabinet member to leave in less than a month, a major blow to Prime Minister Fumio Kishida’s already shaky support. Kishida’s approval ratings have plummeted after the assassination of former Prime Minister Shinzo Abe in July … Read more

Younger Chinese reject factory jobs that drive the economy

SHENZHEN, Nov 21 (Reuters) – Growing up in a Chinese village, Julian Zhu saw his father only a few times a year when he returned for vacation from his exhausting job at a textile factory in southern Guangdong province. For his father’s generation, factory work was a lifeline out of rural poverty. For Zhu, and … Read more

Employee of Canada’s largest electricity producer charged with spying for China, police say

Hydro-Quebec is Canada’s largest electricity producer Employee accused of stealing trade secrets for China The man will appear in court on Tuesday Beijing calls on Canada not to politicize the matter OTTAWA, Nov. 14 (Reuters) – An employee of Canada’s largest electricity producer, Hydro-Quebec, who was involved in research into battery materials has been charged … Read more

Exclusive: US Blocks More Than 1,000 Solar Shipments Over Chinese Slave Labor Concerns

Nov. 11 (Reuters) – More than 1,000 shipments of solar components worth hundreds of millions of dollars have piled up in U.S. ports since June under a new law banning imports from China’s Xinjiang region over slave labor concerns, according to federal customs officials and sources from the industry. The previously unreported number of seizures … Read more

The Fed may need to slow or stop balance sheet trimming by 2023, says Barclays

NEW YORK, Oct. 20 (Reuters) – According to a report from Barclays, the Federal Reserve may need to slow or shut down its nearly $9 trillion balance sheet sooner than many now expect. The investment bank’s analysts wrote this week that the current rate of decline is likely to change in the first half of … Read more

China’s Xiaomi says it will protect its business interests after India freezes its assets

MUMBAI, Oct. 3 (Reuters) – Chinese smartphone maker Xiaomi Corp (1810.HK) said Sunday it was “disappointed” with an Indian order that froze $682 million of its assets and would continue to protect its interests. An Indian appellate body on Friday confirmed an order in April from India’s federal agency to fight financial crime, the Enforcement … Read more