Turkey’s Erdogan drops retirement age requirement for millions

Turkey’s Erdogan drops retirement age requirement for millions

ANKARA, Dec 28 (Reuters) – President Tayyip Erdogan eliminated a retirement age requirement on Wednesday in a move that allows more than 2 million Turkish workers to retire immediately, less than six months before an election. The announcement was made during a news conference and follows Erdogan’s ruling AK Party delivering a hefty hike to … Read more

3M to end 'forever chemicals' output at cost of up to $2.3 bln – Reuters.com

3M to end 'forever chemicals' output at cost of up to $2.3 bln – Reuters.com

3M to end ‘forever chemicals’ output at cost of up to $2.3 bln  Reuters.com 3M will stop making hazardous ‘forever chemicals’ starting in 2025  CNN 3M to end use of ‘forever chemicals’ by end of 2025  Yahoo Finance 3M to Stop Making, Discontinue Use of ‘Forever Chemicals’  The Wall Street Journal Amid pressure, 3M to end toxic ‘forever chemicals’  Reuters … Read more

Chinese business confidence falls to lowest in almost a decade on COVID

Chinese business confidence falls to lowest in almost a decade on COVID

BEIJING, Dec 19 (Reuters) – China’s business confidence fell to its lowest since January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging COVID-19 cases on economic activity with the abrupt lifting of many pandemic control measures. The index fell to 48.1 in December from 51.8 in November, showed the … Read more

China’s factory, retail sectors skid as COVID hits growth

China’s factory, retail sectors skid as COVID hits growth

China’s industrial output growth slows more than expected Retail sales contraction deepens Property investment falls most in over two decades Nationwide jobless rate climbs Near-term outlook darkens following COVID relaxation – analysts BEIJING, Dec 15 (Reuters) – China’s economy lost more steam in November as factory output slowed and retail sales extended declines, both missing … Read more

China’s producer prices fall, consumer inflation slows on soft demand

China’s producer prices fall, consumer inflation slows on soft demand

PPI falls for a second month Nov PPI -1.3% y/y vs -1.3% y/y in October Nov CPI +1.6% y/y vs +2.1% y/y in October BEIJING, Dec 9 (Reuters) – China’s factory-gate prices showed an annual fall for a second month in November while consumer inflation slowed, indicating weak activity and soft demand in an economy … Read more

China’s trade suffers worst slump in 2-1/2 yrs as COVID woes, feeble demand take toll

China’s trade suffers worst slump in 2-1/2 yrs as COVID woes, feeble demand take toll

China’s exports worst since Feb. 2020, miss forecast Imports fall steepest since May 2020 on sluggish demand Global economic slowdown, China’s COVID woes heap pressure Politburo meet points to domestic demand key driver in 2023, analyst says BEIJING, Dec 7 (Reuters) – China’s exports and imports shrank at their steepest pace in at least 2-1/2 … Read more

U.S. labor market shrugs off recession fears; keeps Fed on tightening path

U.S. labor market shrugs off recession fears; keeps Fed on tightening path

Nonfarm payrolls increase 263,000 in November Unemployment rate steady at 3.7%; participation rate falls Average hourly earnings rise 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – U.S. employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve … Read more

Wall Street mixed; Dow pressured by selloff in Salesforce shares

Wall Street mixed; Dow pressured by selloff in Salesforce shares

Salesforce drops on co-CEO exit plan Dollar General falls on slashing annual profit view U.S. manufacturing shrinks for first time in 2-1/2 years in Nov Indexes: S&P 500 -0.09%, Nasdaq +0.14%, Dow -0.59% Dec 1 (Reuters) – Wall Street was mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders digested … Read more

SNAPSHOT S&P 500, Nasdaq pare gains after explosion kills two in Poland

SNAPSHOT S&P 500, Nasdaq pare gains after explosion kills two in Poland

Indexes: Dow down 0.34%, S&P up 0.33%, Nasdaq up 0.92% Nov 15 (Reuters) – The S&P 500 and the Nasdaq pared gains on Tuesday after two people died in an explosion in eastern Poland near the border with Ukraine. Russia was pounding cities across Ukraine with missiles on Tuesday, in attacks that Kyiv said were … Read more

IMF says global economic outlook getting ‘gloomier’, risks abound

IMF says global economic outlook getting ‘gloomier’, risks abound

WASHINGTON, Nov 13 (Reuters) – The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, … Read more