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Tax credits for EU electric vehicles to dominate Monday’s trade talks with U.S
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Euro zone likely heading into mild recession-PMI
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Volkswagen to discuss new software roadmap on Dec. 15 -Handelsblatt
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Trafigura enters $3 billion loan to supply Germany’s Sefe with gas
Asia shares bank on eventual China opening; oil gains
Date: December 5, 2022
By Wayne Cole SYDNEY (Reuters) – Asian shares extended their rally on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, nudging the dollar down against the yuan. The news helped oil prices firm as OPEC+ nations reaffirmed their output targets ahead...
China’s patchy COVID easing sows confusion but comforts investors
Date: December 5, 2022
By Ryan Woo and Martin Quin Pollard BEIJING (Reuters) -A partial easing of the world’s toughest COVID-19 curbs sowed confusion across China on Monday, even as global investors cheered the prospects of a broader policy shift in the wake of last month’s historic protests and mounting economic damage. Three years into the pandemic, China’s zero-tolerance...
Dollar soft as China reopening hopes boost risk sentiment
Date: December 5, 2022
SINGAPORE (Reuters) – The dollar struggled to gain a foothold on Monday and was languishing at five-month lows as traders looked past stronger than anticipated U.S. jobs data, while growing hopes of China reopening boosted risk sentiment. The dollar index, which measures the currency against six major peers including the yen and euro, was down...
U.S., France agreed to “fix” U.S. subsidies issues, says Macron
Date: December 5, 2022
(Reuters) -President Joe Biden and French President Emmanuel Macron agreed during a state visit earlier this week to “fix” issues arising from U.S. legislation that includes subsidies for American-made products, Macron said in a bid to assuage European concerns. Biden’s Inflation Reduction Act is a new $430 billion bill offering massive subsidies for U.S.-made products...
UK economy to shrink in 2023, risks ‘lost decade’: CBI
Date: December 5, 2022
By David Milliken LONDON (Reuters) – Britain’s economy is on course to shrink 0.4% next year as inflation remains high and companies put investment on hold, with gloomy implications for longer-term growth, the Confederation of Business Industry forecast on Monday. “Britain is in stagflation – with rocketing inflation, negative growth, falling productivity and business investment....
Crypto broker Genesis owes Gemini’s customers $900 million – FT
Date: December 5, 2022
(Reuters) -Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins’ crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said,...