Asian stocks made a positive start on Wednesday following gains on Wall Street, but lost momentum as factory gate prices in China fell for the first time in nearly two years.. China's producer price index (PPI) fell by 1.3 percent on-year in October, pushing it into negative territory for the first time since December 2020.
Kenya Airways pilots returned to work on Wednesday, after a court ordered them to end their days-long strike which had led to hundreds of flight cancellations and stranded thousands of passengers.. Despite the announcement ending the strike, Kenya Airways' latest online update showed just 19 flights operating on Wednesday, fewer than the 26 scheduled the day before.
A silence hangs over Ion Ignat's normally noisy factory in Chetrosu, Moldova, with his 50 workers fretting about their future.. Back at the brick factory, Ignat said the "next six months will be decisive" for his country.
Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.. Terms of the deal have yet to be released, but IMF cash is usually conditional on painful reforms, such as tax hikes, removing consumer subsidies, and privatising or closing underperforming state firms.
Asian stocks made a positive start Wednesday following gains on Wall Street but lost momentum as factory gate prices in China fell for the first time in nearly two years.. Official data showed Wednesday that China's producer price index (PPI) fell by 1.3 percent on-year in October, pushing it into negative territory for the first time since December 2020.
Tesla chief Elon Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings showed Tuesday, more than a week after he closed his $44 billion acquisition of Twitter.. Musk's decision to pull Twitter off the stock market has allowed him to make major changes quickly, but it also took the company more heavily into debt, a risky choice for a money-losing business. bys-wd/md Tesla chief Elon Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings showed Tuesday, more than a week after he closed his $44 billion acquisition of Twitter.
Trafficked, beaten and locked up far from his family in China, Lu was one of thousands of people in Cambodia forced to operate online scams to line their captors' pockets.. "People were beaten or tortured and sold if they refused to scam others."
The wealth of China's billionaires this year dropped by the largest amount in more than two decades, according to an annual ranking, as zero-Covid curbs and a property market crisis stall the world's second-largest economy.. Nearly 300 individuals listed last year were absent from this year's list, most from the property industry, which has faced a spiralling debt crisis after the government imposed borrowing curbs in 2020.
Factory gate prices in China were down for the first time in nearly two years last month, official data showed Wednesday, as falling global commodity prices made their mark on an economy ailing under strict Covid controls.. "Factory-gate inflation is likely to continue falling over the coming quarters due to a further decline in global commodity prices and a higher base for comparison," said Julian Evans-Pritchard, senior China economist at Capital Economics.
Tesla chief Elon Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings showed Tuesday, more than a week after he closed his $44 billion acquisition of Twitter.. The US Securities and Exchange Commission documents show Musk, who financed much of his Twitter purchase with Tesla stock, sold more than 19 million shares worth in excess of $3.9 billion.
