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By Francesco Guarascio and Phuong Nguyen HANOI (Reuters) – Communist-run Vietnam is planning its boldest bureaucratic reform in decades, slashing ministries, agencies and broadcasters in a bid to reduce bottlenecks and red tape, but risking short-term “paralysis”, officials and investors said. Under the plan, five ministries, four government agencies and five state TV channels would …

Analysis-Vietnam’s sweeping administrative cuts stir investors’ anticipation, worries Read More »

(Reuters) -Australia’s Qantas Airways said on Tuesday that it has reached a settlement with the Transport Workers Union (TWU) for compensation of A$120 million ($76.2 million) that it will pay former ground workers who were sacked in 2020. The airline will pay the ex-employees through a compensation fund that will be established in early 2025, …

Australia’s Qantas to pay $76 million to former employees Read More »

SHANGHAI (Reuters) -China’s capital markets outflow reached a record high of $45.7 billion in November, according to official data tracking cross-border payments, as Donald Trump’s U.S. presidential election win roiled global portfolio flows. Cross-border receipts from portfolio investments were $188.9 billion, while payments totalled $234.6 billion, resulting in the biggest monthly deficit on record, according …

China capital markets outflow hits record high in Nov after Trump election win Read More »

By Dawn Chmielewski (Reuters) -U.S. President-elect Donald Trump is scheduled to meet with Netflix co-CEO Ted Sarandos on Tuesday at Trump’s Mar-a-Lago resort, a source familiar with the matter told Reuters on Monday. Sarandos has traditionally backed Democratic Party candidates, making donations to support President Joe Biden, former President Barack Obama and Democratic presidential nominee …

Trump to meet Netflix co-CEO Ted Sarandos, source says Read More »

(Reuters) -Australia’s competition watchdog said on Tuesday it has taken Exxon Mobil’s local brand affiliate to court, claiming it misled customers about fuel sold at six of its branded petrol stations in Queensland. Mobil is a petroleum brand owned and operated by American oil and gas corporation Exxon Mobil. The Australian Competition and Consumer Commission …

Australia takes Exxon’s local petrol brand to court over false fuel representations Read More »

SYDNEY (Reuters) – Australian consumer sentiment took a step back in December as concerns about the economic outlook outweighed an improvement in people’s own finances, a survey showed on Tuesday. The Westpac-Melbourne Institute index of consumer sentiment fell 2.0% in December, unwinding a little of the sharp gains seen over the previous two months. The …

Australian consumers fret over the economy in December, survey shows Read More »

By Chuck Mikolajczak NEW YORK (Reuters) -The Nasdaq closed at a record high on Monday and the S&P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve’s final policy announcement of the year later in the week to gauge the path of interest rates. Markets have almost completely …

Nasdaq closes at record as investors prepare for Fed rate decision Read More »

NEW YORK (Reuters) – Ozy Media founder Carlos Watson was sentenced on Monday to nearly 10 years in prison, after a jury found him guilty in July of lying to investors about the now-defunct startup’s finances and sham deals with Google and Oprah Winfrey. U.S. District Judge Eric Komitee handed down the 116-month sentence at …

Ozy Media founder Carlos Watson sentenced to almost 10 years for fraud Read More »