Author: Press Room
Hi, everyone. This is Kenji from Hong Kong.The closely watched meeting between US President Joe Biden and Chinese President Xi Jinping that ended Thursday morning, east Asia time, was generally positive in the sense that the two leaders were finally able to have a face-to-face talk.Though there were few concrete results, one of the main goals of the San Francisco summit, namely to normalise a communication channel for emergencies, seems to have been achieved. Biden said in the run-up to his second meeting as president with Xi that it was important to “get back on a normal course, corresponding and…
The UK Chancellor of the Exchequer, Jeremy Hunt, has announced an extension to the tax breaks for freeports as part of the Autumn Statement, a move aimed at enhancing the benefits of Brexit and supporting the government’s “level up” agenda. This policy is designed to foster economic growth by providing more favorable tax conditions to businesses operating within these designated zones. The extension of tax incentives for freeports is seen as a strategic effort to ensure the longevity of the scheme. Freeports are special areas where normal tax and customs rules do not apply, allowing goods to be imported, manufactured,…
© Reuters. By Kane Wu and M. Sriram HONG KONG/MUMBAI (Reuters) – U.S investment giant Carlyle Group (NASDAQ:) has lowered the target for its latest pan-Asia private equity fund by at least 30% from its original $8.5 billion, three people with knowledge of the matter said, as a slowing global economy and geopolitical tensions dull investors’ appetite. Carlyle, which started raising its sixth Asia-focused fund in mid-2022, has bagged less than $3 billion so far, two of the sources said. Carlyle did not disclose to investors why it had lowered the target, the sources said, with one of the people…
© Reuters NEW DELHI – In a move that reflects the current global oil market trends, the Indian government announced significant reductions in the windfall tax on diesel and today. This decision comes as the latest adjustment in a series of tax changes that respond to fluctuating international oil prices. The tax on crude oil has been cut from ₹9,800 ($117.70) per tonne to ₹6,300 ($75.70) per tonne. In a more pronounced reduction, the windfall tax on diesel has been halved from ₹2 to ₹1 per litre. These changes are part of the Centre’s ongoing strategy to align domestic tax…
Janux Therapeutics up ~4%, CFO and director buys stock worth ~4.99M
An increasing number of migrants arrested at the southern border over the past year are on the United States’ terrorist watch list, according to government data.From October last year to this September, officials at the southern border arrested 169 people whose names matched those on the watch list, compared with 98 during the previous fiscal year and 15 in 2021, according to government data. But that is a minuscule fraction of the total number of migrants who were apprehended at the border over the past year, more than two million.The increase appears to reflect at least two factors, a surge…
A video of Tesla’s Cybertruck struggling to make it up a dirt hill went viral on Friday.On Wednesday, Ford CEO Jim Farley appeared to shade the rival carmaker with his own off-road demo.The Cybertruck is expected to be delivered to consumers this month, after two years of delays. 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 On Friday, a video of Tesla’s long-awaited Cybertruck went viral on X — but not for the reason Elon Musk likely intended.The Cybertruck can be seen struggling to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Based on its European operations, Norway’s Telenor tops the FT-Statista ranking for diversity in the continent’s telecoms sector, and is ninth in the overall list. But the group takes its approach considerably further afield.In Pakistan — where the female workforce participation rate is one of the world’s lowest — Telenor cites gender as a business priority.It provides six months paid maternity leave, on-site child care, schemes to upskill women and transport to ensure they avoid harassment on public services — all of…
© Reuters. U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Kevin Buckland TOKYO (Reuters) – The dollar held its ground on Thursday after a volatile two days that saw sharp declines followed by a rebound as traders took incoming economic data as signalling the Federal Reserve will wait longer before cutting interest rates. The risk-sensitive Australian and New Zealand dollars sank amid a decline in regional equities. The U.S. currency edged up to $1.08395 per euro and $1.2395 against sterling, while trading largely flat at 151.33 yen after mounting a…
© Reuters. Hotel Chocolat products are seen on sale at Rabot 1745, in London, Britain December 1, 2017. Picture taken December 1, 2017. REUTERS/Peter Nicholls/File Photo LONDON (Reuters) – British specialist chocolatier Hotel Chocolat agreed to a 534 million pound ($662 million) takeover offer from Mars Inc on Thursday, after the pair agreed the food giant was well-positioned to help the small retailer expand internationally. ($1 = 0.8072 pounds)