BEIJING (Reuters) – China’s factory gate prices showed an annual fall for a second month in November, amid soft domestic demand and sliding commodity prices, and consumer inflation slowed, indicating weak economic activity in November. The producer price index (PPI) was down 1.3% on a year earlier, unchanged from an annual contraction seen in October,…
(Reuters) -Apple supplier Foxconn’s founder Terry Gou had warned China that the government’s zero-COVID stance would threaten the position of the world’s second-largest economy in the global supply chain, the Wall Street Journal reported. The appeal, sent by Gou in a letter more than a month ago, played a major role in convincing China’s leadership…
(Reuters) – Canada’s TC Energy Corp shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. The 622,000 barrel-per-day pipeline is a critical artery shipping heavy Canadian…
OTTAWA (Reuters) – The Royal Canadian Mounted Police (RCMP) has suspended a communications equipment contract that was awarded to a company with links to the Chinese government, a spokesperson for Canadian Public Safety Minister Marco Mendicino confirmed on Thursday. Radio-Canada reported on Wednesday that Ottawa had awarded a contract worth about C$550,000 ($404,950) for a…
By Herbert Lash NEW YORK (Reuters) -World stocks rose and oil prices initially rebounded on Thursday on hopes that China’s easing of its anti-COVID-19 measures will help restore global supply chains and curb inflation. China’s shift in policy, announced on Wednesday, would allow the country’s economy to pick up pace, state media CCTV quoted Premier…
By Diane Bartz WASHINGTON (Reuters) – The Biden administration filed a complaint on Thursday aimed at blocking tech giant Microsoft’s $69 billion bid to buy “Call of Duty” games maker Activision, over concerns the deal would deny rivals access to popular games. Microsoft, which owns the Xbox, said in January 2022 that it would buy…
(Reuters) – The sale of a Shell Plc and Exxon Mobil Corp oil-production joint venture in California has been pushed back to the first quarter of next year for U.S. regulatory approvals, the companies said on Thursday. German asset manager IKAV in September agreed to pay $4 billion for Aera Energy, a Shell-Exxon business that…
(Reuters) – A Canadian regulator said on Thursday it had rejected Telus Corp’s request to charge a processing fee on credit card payments made by customers for its telecom services in Alberta and British Columbia provinces. Canadian businesses, outside of Quebec, were allowed to pass on a fee for credit card transactions from Oct. 6,…
(Reuters) – Amazon.com Inc said on Thursday it will roll out a TikTok-like feed on its e-commerce app, hoping to attract new shoppers through a stream of photos and videos from their favorite influencers. The move comes as shopping activity slows in response to an uncertain economy and decades-high inflation. The feature is also geared…
By Jonathan Saul LONDON (Reuters) – Turkey’s maritime authority said on Thursday it would continue to block the passage of oil tankers that don’t carry appropriate insurance letters, adding that insurance checks on ships in its waters were a “routine procedure”. The logjam is creating growing unease in oil and tanker markets and comes as…
