Author: Press Room

Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morningGood morning. China’s manufacturing activity contracted for the second month in November, indicating weakening momentum in the world’s second-largest economy. The country’s official manufacturing purchasing managers’ index came in at 49.4 this month, lower than a median forecast of 49.8 in a Bloomberg poll and slightly below a reading of 49.5 in October.…

© Reuters. FILE PHOTO: Agents of ICMBio (Chico Mendes Institute for Biodiversity Conservation) and IBAMA (Brazilian Institute for the Environment and Renewable Natural Resources) work to extinguish a fire in the Pantanal, the world’s largest wetland, in Pocone, Mato By Marc Jones LONDON (Reuters) -The world’s top multilateral development banks are set to launch a global “task force” at the COP28 climate summit in the coming days to scale up the number and size of ‘debt-for-nature’ swaps that countries can do. Debt-for-nature swaps, where a developing country’s debt is cut in return for protecting vital ecosystems, are attracting growing interest…

© Reuters. FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June By Sheila Dang, Chavi Mehta and Jaspreet Singh (Reuters) -Social media company X faces the prospect of more advertisers fleeing and has no clear fix in sight, ad industry experts said, after billionaire owner Elon Musk lashed out at some of the biggest brands for dropping the platform. Walt Disney (NYSE:) and Warner Bros. Discovery (NASDAQ:) suspended advertising…

© Reuters. Multiple refineries including the Kinder Morgan Edmonton Terminal, that produces petrochemicals, is seen near Edmonton, Alberta, Canada, October 7, 2021. REUTERS/Todd Korol (Reuters) – Canada’s main oil-producing province Alberta on Thursday forecast an increased surplus of C$5.5 billion ($4.06 billion) for the 2023/24 fiscal year, fuelled by strong bitumen royalties and higher income tax revenues. Earlier this year Alberta had forecast a budget surplus of C$3.2 billion. The province said volatile oil prices, continued inflation challenges and uncertainty due to slowing global growth could still impact its finances, however, and warned debt servicing costs will be higher than…

ismagilov Stifel has started coverage of newly public Lexeo Therapeutics (NASDAQ:LXEO) with a buy rating, saying it was bullish on the company’s lead drug candidate LX2006 in the treatment of Friedreich’s ataxia and sees a potential Alzheimer’s therapy getting little credit in the stock’s valuation. Stifel said that Lexeo “checks a number of key boxes,” namely its promising early data, commercially attractive indications with truly unmet needs, experienced management team and several near-to-mid-term catalysts for the stock. “More broadly, we think Lexeo stands to benefit from an increasingly flexible regulatory path in CV gene therapy,” wrote Stifel, adding that Lexeo’s…

Dr. Abraham B. Bergman, a pediatrician who was instrumental in passing a federal law to combat sudden infant death syndrome, a once misunderstood loss that caused not just parental heartbreak but guilt and blame, and who put his stamp on other enduring public health laws, died on Nov. 10 in Seattle. He was 91.The cause of his death, on a family member’s boat, was amyloid heart disease, his son Ben Bergman said.In the 1960s and early ’70s, Dr. Bergman was president of the National Foundation for Sudden Infant Death, a grass-roots group that supported parents who had lost children to…

Saudi Arabia has invested heavily in its navy in recent years, buying a number of new warships. Riyadh has also demonstrating more willingness to participate in and even lead maritime task forces. The moves are a response to growing threats and reflect a desire to rely less on the US for defense. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Saudi Arabia’s naval forces have come a long way in recent years, with Riyadh acquiring more advanced warships and demonstrating increasing willingness to participate…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Tesla revealed on Thursday that pricing for the cheapest model of its much-hyped and long-delayed Cybertruck will start at $60,990, as the electric-car maker officially began the first deliveries of the futuristic-looking vehicle.The price tag for the Cybertruck, with its unconventional angular shape and steel body, is higher than the starting price of just under $40,000 Tesla gave when it first announced the vehicle in 2019. In addition to the cheapest rear-wheel drive model, which will not be available until 2025, an…

© Reuters. FILE PHOTO: FILE PHOTO: A screen showing the Hang Seng stock index is seen outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Asian markets round out the week on Friday in reasonably good spirits, with a deluge of purchasing managers index data from across the continent and a sprinkling of key indicators from Japan, South Korea and Indonesia the most likely market-moving catalysts. Friday is also the first trading day of December, so perhaps an opportunity to get the…

© Reuters. By Harshita Mary Varghese (Reuters) -Dell Technologies on Thursday reported third-quarter revenue below estimates due to a slower-than-expected recovery in the hardware and software market, sending its shares down 4% after the bell. Vendors in the market have seen a slowdown in demand following the surge in sales of electronic devices during COVID lockdowns on the back of increased work-from-home measures. The company’s client solutions group, which includes its consumer and enterprise personal computer business, posted revenue of $12.28 billion for the third quarter, a near 11% fall compared to a year earlier. “Dell (NYSE:) was not the…