Beijing drops COVID testing burden with wider eyes of easing

Tests no longer necessary for supermarkets, offices Latest in a mix of nationwide easing measures Curbs sparked massive protests last month New national rules as soon as Wednesday – sources BEIJING, Dec. 6 (Reuters) – People in China’s capital Beijing were allowed to enter supermarkets, offices and airports on Tuesday without having to show negative … Read more

Wall Street falls after strong services data fuels Fed fears

Activity in the US services sector picks up in November Tesla slides on reports of production cuts in China Indexes down: Dow 0.70%, S&P 0.98%, Nasdaq 1.12% Dec 5 (Reuters) – Wall Street’s major indices fell on Monday after better-than-expected activity in the services sector added to jitters that the US Federal Reserve could continue … Read more

US Supreme Court debates web designer’s position against same-sex marriage

WASHINGTON, Dec. 5 (Reuters) – The US Supreme Court on Monday delivered spirited arguments in a landmark case pitting LGBT rights against a claim that the constitutional right to free speech exempts artists from anti-discrimination laws – a dispute involving an evangelical Christian web is a designer who refuses to provide her services for same-sex … Read more

China prepares new COVID rules as investors applaud shift easing

New nationwide COVID rules from Wednesday – sources Shift follows large-scale demonstrations last month Yuan firms, global markets gather on China’s hopes HONG KONG/BEIJING, Dec 5 (Reuters) – China will announce further easing of some of the world’s toughest COVID restrictions as early as Wednesday, sources told Reuters, as investors cheered the prospect of a … Read more

India’s tax panel may fail to reach consensus on how to tax online gaming – source

NEW DELHI, Dec 5 (Reuters) – A panel of Indian finance ministers has yet to submit its report on taxation of the burgeoning online gambling sector, which is crucial to a final decision on how the charges should be imposed, a senior government official said on Monday . The panel spent weeks considering how to … Read more

G7 begins to pressure Russia over Ukraine with an oil price cap

Russia says it will not export oil with a limit Zelenskiy says the price cap will do little to deter Russia Ukrainian regions are resorting to planned blackouts Ukrainian troops hold positions along the frontline – Zelenskiy Russia says troops are conducting successful operations in Bakhmut KYIV, Dec 5 (Reuters) – A Group of Seven … Read more

Asia Shares Bank on China’s Final Opening; oil profits Chinese stocks rise, dollar falls More Chinese cities are easing coronavirus controls Cap on Russian oil takes effect, impact uncertain SYDNEY, Dec. 5 (Reuters) – Asian stocks extended their rally on Monday as investors hoped steps to lift China’s pandemic restrictions would eventually improve the outlook for global growth and demand for commodities, driving … Read more

Chinese services activity shrinks to 6-month low – Caixin PMI

BEIJING, Dec. 5 (Reuters) – China’s services activity contracted to a six-month low in November as mounting COVID containment measures weighed on demand and activity, a private sector business survey found on Monday, pointing to a further blow to economic growth. The purchasing managers’ index (PMI) of Caixin/S&P Global services fell from 48.4 to 46.7, … Read more

Oil prices rise after OPEC+ upholds production cut targets, China eases COVID restrictions

Brent gained 0.8% at 0430 GMT, WTI rose 0.9% OPEC+ maintains plans to cut production by 2 million barrels per day More Chinese cities are easing COVID-19 restrictions MELBOURNE, Dec 5 (Reuters) – Oil prices rose as much as 2% on Monday after OPEC+ countries kept their production targets stable ahead of a European Union … Read more

The deep inversion of the yield curve in Canada adds to the dilemma of the BoC’s rate hike

TORONTO, Dec. 4 (Reuters) – As the Bank of Canada considers scrapping excessive rate hikes, it faces an economy likely to be more overheated than previously thought, but also the clearest signal yet from the bond market that a recession and lower inflation are on the horizon. Canada’s central bank says the economy must slow … Read more