Inside China’s fight over the future of zero-Covid

Opinions diverge over Xi’s zero-COVID policy Anger over lockdowns, fears about opening up Loosening of rules threatens to stir discontent SHANGHAI, Dec 2 (Reuters) – Samuel Ren is sick of zero-Covid. “Omicron is not a threat, it is just like a normal cold,” said the IT worker in his mid-20s in Shanghai, describing China’s ongoing … Read more

Weapons industry booms as Eastern Europe arms Ukraine

E. Europe arms companies step up production for Ukraine Hope to find new markets as defense spends rise Can produce and service Soviet-era and NATO-standard weaponry Poland, Czechs among big suppliers of military aid to Kyiv Industry’s history stretches from the 1800s and through the Cold War PRAGUE/WARSAW, Nov 24 (Reuters) – Eastern Europe’s arms … Read more

UK faces record hit to living standards as tax hikes loom

Britain facing record living standards hit UK economy in recession, set to shrink in 2024 Almost half of the 55 billion-pound belt-tightening from tax rises Budget watchdog sees 7% hit to living standards IFS think-tank says bulk of the hit to come after 2024 LONDON, Nov 17 (Reuters) – Britain faces a record hit to … Read more

COP27 negotiators still far apart on strong climate deal

G20 leaders expressed support for climate action Lula boosts COP27 with ‘Brazil is back’ message But countries struggle for climate deal in Egypt SHARM EL-SHEIKH, Egypt, Nov 16 (Reuters) – Countries were far from agreeing the contours of a climate deal at the COP27 summit in Egypt on Wednesday, with the host country urging negotiators … Read more

Key takeaways from the G20 summit in Bali

Nov 16 (Reuters) – Leaders of the world’s Group of 20 (G20) wealthiest nations concluded a two-day summit on the Indonesian island of Bali on Wednesday deploring Russia’s aggression in Ukraine “in the strongest terms”, among other highlights. Here are key takeaways from the meeting: CONDEMNING RUSSIAN AGGRESSION Meetings of G20 ministers earlier this year … Read more

G20 summit deplores war in Ukraine ‘in strongest terms’

G20 says ‘most members’ condemn war in Ukraine Threat of use of nuclear weapons ‘inadmissible’ – declaration Agreement to calibrate monetary tightening NUSA DUA, Indonesia, Nov 16 (Reuters) – Leaders of the Group of 20 (G20) nations deplored Russia’s aggression in Ukraine “in the strongest terms” on Wednesday and demanded its unconditional withdrawal in a … Read more

China’s economy loses momentum as COVID curbs hit factories, consumers

China’s industrial output grows more slowly than expected Retail sales fell for the first time since May Property investment sees the biggest drop since early 2020 Gloomy economic outlook on softening external demand BEIJING, Nov 15 (Reuters) – China’s economy suffered a broad slowdown in October as factory output grew more slowly than expected and … Read more

Apple warns of lower iPhone shipments as COVID curbs hobble China plant

Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says a Chinese plant operating at sharply reduced capacity Apple supplier Foxconn revises down Q4 outlook TAIPEI, Nov 7 (Reuters) – Apple Inc ( AAPL.O ) expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at … Read more

Egypt’s pound slides as IMF deal triggers new exchange rate regime

The central bank hikes rates in an effort to contain inflation IMF says deal can catalyze about $5 billion in FY 2022/23 Finance rules that snarled imports to be phased out CAIRO, Oct 27 (Reuters) – Egypt’s pound slid about 14.5% to a record low against the dollar on Thursday as authorities announced a $3 … Read more

New PM Rishi Sunak pledges to lead Britain out of economic crisis

Sunak meets King Charles on Tuesday morning Vows to rebuild trust in the country Expected to start forming a cabinet Sunak faces a huge challenge to rebuild stability LONDON, Oct 25 (Reuters) – Rishi Sunak became Britain’s third prime minister in two months on Tuesday and pledged to lead the country out of a deep … Read more