China Industrial Profits Drop as Covid Outbreaks Slow Output
Profits at industrial firms in China declined in the first 11 months of the year, as production slowed and factory-gate prices fell amid Covid disruptions.
Bloomberg Business
Hong Kong Searches for Flights to China Soar as Last Curbs Fall
Residents of Hong Kong reacted swiftly to news China will no longer subject inbound travelers to quarantine as of early next year, flooding the internet to search for flights to key mainland cities.
Japan’s Retail Sales Fall as Pent-up Demand Cools Amid Inflation
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Japan Inks LNG Deals With US, Oman to Secure Fuel Supply
Japan agreed to purchase more liquefied natural gas from the US and Oman in the latest move to secure fuel supplies and avoid future shortages.
Wall Street’s Big Banks Score $1 Trillion of Profit in a Decade
It isn’t just the scale of profit that’s startling, but the industry’s ability to push through scandals and thrive anew.
Modi’s Building Boom Setting Up India as Global Steel Savior
With China’s massive construction sector still in a funk and the US and Europe likely heading into recessions, India has emerged as a savior for flagging global steel demand.
Serbian Army Put on Highest Alert Over Kosovo Tensions
Serbia’s President Aleksandar Vucic has ordered the nation’s army on full alert after weeks of rising tensions in neighboring Kosovo where the local Serb minority has been confronting the authorities over new registration requirements, putting up road blockades and holding protests that threaten to tip into violence, the defense ministry says.
South Korean Equities Eye Worst Year Since 2008 on Chip, Entertainment Stocks
(Bloomberg) — While declines in chip and Internet giants have put South Korean equities on course for their worst year since the global financial crisis, investors found winners in the electric-vehicle supply chain and defense sector.
Credit-Market Rebound Leaves Korea’s Weaker Firms Lagging Behind
(Bloomberg) — Lower-rated won corporate notes have lagged the rebound in high-grade peers after South Korea’s credit rout, a trend that may continue on concerns about an economic slowdown.
Ukraine Latest: Russia’s UN Seat Challenged; Air Base Attacked
Ukraine has asked members of the United Nations to review Russia’s place in the international organization and strip it of its veto-wielding permanent seat on the UN Security Council.
