Category: business
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UK Retailer Confidence Crashes to Lowest Level in 17 Years Ahead of High-Stakes Budget
UK Retail Confidence Plummets as Budget Uncertainty Looms Britain’s retail sector is facing its sharpest collapse in confidence in 17 years, according to new data released on Tuesday, just one day before the government unveils a budget expected to bring tax increases and tighter fiscal measures. A survey by the Confederation of British Industry (CBI)
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Sterling Rises Ahead of UK Budget as Traders Brace for Volatility Spike
Pound Extends Gains as Markets Eye High-Stakes UK Budget Sterling rose for a fourth consecutive session on Tuesday, with investors closely watching the growing tension in currency markets ahead of Britain’s highly anticipated budget announcement. The pound strengthened both against the U.S. dollar and the euro, even as traders rushed into the options market to
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Dollar Holds Steady as Markets Eye Potential U.S. Rate Cuts; Yen Remains on Intervention Watch
Dollar Stays Firm Despite Surge in Rate-Cut Expectations The U.S. dollar held steady on Tuesday, even as investors sharply increased their expectations for a potential Federal Reserve interest rate cut in December. Dovish comments from multiple Fed policymakers have pushed traders to anticipate easing sooner than previously forecast, though the dollar has so far remained
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Stellantis Chairman Warns European Car Industry Faces Risk of “Irreversible Decline”
European Auto Sector at a Critical Turning Point, Says Stellantis Chairman Stellantis Chairman John Elkann issued a stark warning on November 25, stating that the European automotive industry is at risk of entering an “irreversible decline” unless urgent policy adjustments are made. Speaking at an event in Turin, Italy, Elkann emphasized that Europe’s carmakers are
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Volkswagen Expands China-Made Car Exports to Overseas Markets but Rules Out Europe
Volkswagen Looks to Boost China-Made Vehicle Exports Volkswagen (VOWG.DE) is planning to expand exports of cars developed and manufactured in China to more overseas markets, according to Thomas Ulbrich, Chief Technology Officer of Volkswagen Group China. The German automaker, which recently started exporting China-made petrol limousines to the Middle East, is evaluating additional markets for
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China’s Solar Installations Surge 30% in October Amid Policy Recovery
China’s solar power sector saw a significant rebound in October, with 12.6 gigawatts (GW) of new solar capacity installed, marking a 30% increase month-on-month, according to statistics released by the National Energy Administration (NEA). This growth comes as developers continue to recover from a mid-year slowdown triggered by uncertainties from a new renewables pricing mechanism.
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TSMC Sues Former Executive Wei-Jen Lo Over Security and Trade Secret Concerns
Taiwan Semiconductor Manufacturing Co (TSMC) has filed a lawsuit against its former Senior Vice President Wei-Jen Lo, who recently joined Intel, citing concerns over violations of non-compete agreements and potential breaches of trade secrets. The legal action was lodged in the Intellectual Property and Commercial Court in Taiwan. Details of the Lawsuit TSMC, the world’s
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Taiwan Rejects ‘Return to China’ After Xi Jinping Presses Sovereignty Claims
Taiwan’s Premier Cho Jung-tai has firmly stated that a “return” to China is not an option for the island’s 23 million people, following Chinese President Xi Jinping’s recent call with U.S. President Donald Trump, in which Xi emphasized Taiwan’s “return to China” as part of Beijing’s vision for global order. Taiwan’s democratically elected government has
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Poland’s Antitrust Watchdog Investigates Apple Over Privacy Policy and Competition Concerns
Poland’s anti-monopoly office, UOKiK, has launched an investigation into Apple Inc. (AAPL) to determine whether its privacy policies are restricting competition in the mobile advertising market. The inquiry focuses on Apple’s App Tracking Transparency (ATT) framework, introduced in iOS 14.5 and subsequent versions, which limits third-party apps from collecting user data for personalized advertising. Concerns
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UK Financial Sector Faces Challenges in Preparing for New T+1 Settlement System
The United Kingdom’s financial sector is making slow but steady progress in preparing for the implementation of the T+1 settlement system, which will halve the settlement time for securities transactions from two business days to one. However, a recent survey shows that a significant portion of financial firms expect to miss key preparatory deadlines, raising
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