The yuan is the new dollar as Russia makes a comeback

Russia resorts to the Chinese currency amid sanctions Moscow has become the No. 4 offshore trading center for the yuan The yuan’s share in the Russian forex market increased from 1% to 45% The Russian Central Bank supports the trend but warns of risks This content was produced in Russia where coverage of Russian military … Read more

FACTS: The latest fronts in climate change legal battles

(Reuters) – Climate change litigation has more than doubled in the past seven years globally, according to a June report by the London School of Economics, and is bypassing traditionally polluting industries such as fossil fuel production. At COP27 climate talks in Egypt, United Nations experts warned last week that many companies’ environmental claims amounted … Read more

First TVs, now tortilla chips: American companies set minimum prices to stop discounting

NEW YORK, Nov. 17 (Reuters) – Makers of everything from toys to wafers are increasingly placing minimum prices on their items to maintain profits and limit price cuts as retailers like Walmart do so. (WMT.N) and Amazon.com Inc (AMZN.O) Trying to attract sales from each other over the Internet. As a result, shoppers are faced … Read more

Trump’s 2024 presidential bid was a new wrinkle for the markets

NEW YORK (Reuters) – Former President Donald Trump’s entry into the 2024 presidential race on Tuesday confirmed the world’s “worst-kept secrets” and created another variable for markets that some investors say remains a low priority for now. Trump, who has launched relentless attacks on voting integrity in the United States since his defeat in the … Read more

Biden and Xi prepare to meet ahead of Ukraine-overwhelmed G20 summit

NUSA DUA, Indonesia (Reuters) – Chinese leader Xi Jinping arrived on the Indonesian island of Bali on Monday for a long-awaited meeting with U.S. President Joe Biden ahead of a set to be perilous summit of the Group of 20 nations. With tension due to the Russian invasion of Ukraine. The two leaders are expected … Read more

Exclusive: Tesla considering exporting Chinese-made electric cars to US sources

SHANGHAI, November 11 (Reuters) – TESLA (TSLA.O) Two people familiar with the planning are considering exporting electric cars made in China to the United States, a reversal that would reflect the automaker’s deep cost advantage at its Shanghai plant and sluggish demand from Chinese consumers. Tesla is studying whether parts made by its suppliers in … Read more

Exclusive: Apple supplier Foxconn plans to quadruple workforce at India plant

New Delhi / Taipei, November 11 (Reuters) – Apple (AAPL.O) Foxconn supplier (2317.TW) Two government officials familiar with the matter said they plan to quadruple the workforce at the iPhone plant in India over two years, citing production adjustments as it faces disruptions in China. Foxconn has made headlines in recent weeks, with strict virus … Read more

The default in South Korea’s Legoland indicates broader pressures in the bond market

SEOUL (Reuters) – A missed bond repayment by a South Korean theme park developer has shaken up the country’s financial markets and raised concerns about the possibility of a credit crunch similar to the one that plunged China’s real estate market and economy into crisis. . South Korea’s central bank and financial regulators scrambled this … Read more

Analysis: Poor countries are at risk from elusive G-20 debt relief efforts

LONDON/WASHINGTON (Reuters) – The failure to make concrete progress on debt relief for the world’s poorest countries at the annual meeting of the International Monetary Fund and World Bank in Washington frustrated policymakers, activists and investors. Two years ago, the Group of Twenty launched the Joint Framework – a mechanism designed to provide a rapid … Read more

BreakingViews: Xi’s contract with China needs more signatures

HONG KONG, Oct 23 (Reuters) – Xi Jinping effectively secured a third term as president at the just-concluded secret meeting of the Communist Party of China. His prize: a $16 trillion economy in a weak country, dependent on American technology and facing a demographic crisis. Xi also faces popular resentment over the economic pain his … Read more