Author: WTX Business Team

France trade deficit lifted in October by easing energy costs In October 2023, France’s trade deficit, which is the difference between what the country imports and exports, decreased to €8.6 billion. This improvement was mainly because the cost of energy went down, specifically from €5.4 billion in September to €5 billion in October, thanks to lower amounts of energy being brought into the country. Although imports increased by 0.6% to €58.3 billion, exports also went…

The Financial Times goes with the resignation of immigration minister Robert Jenrick, saying it scuppered Rishi Sunak’s bid to reunite his party.

The Financial Times leads with Brussels proposing a three-year delay to tariffs that were due to hit electric vehicle sales between the UK and EU.

The FT leads with the government’s latest migration plan, reporting that ministers want to reduce numbers coming into the country by 300,000 a year.

Retail sales for November rose by just 2.7% compared with a 4.2% surge at the same time last year.

Reuters was first to report Meta Platforms’ (META.O) paid no-ads subscription service launched in Europe this month faced one of

Spotify cuts almost 1,600 jobs amid rising costs Streaming giant Spotify is to cut almost 1,600 jobs, with the company pointing fingers at a slowing economy and higher borrowing costs. Spotify billionaire founder and boss Daniel Ek revealed the company had decided to cut 17% of its workforce, the third and steepest round of redundancies of 2023. Ek told employees they would receive a calendar invitation “within the next two hours from HR for a…

Gold hits record-high Gold has climbed to a record high for the second session in a row, as investors flock to the traditional safe haven asset amid hopes of interest rate cuts in the months ahead. The gold price has hit $2,111.39 per ounce, taking it over the record set on Friday night and further above the previous record set in August 2020. Gold has strengthened amid hopes that the cycle of interest rate increases…

THE ECONOMIST says for the first time since Vladimir Putin invaded Ukraine on February 24th 2022, he looks as if he could win.

FT says EU leaders risk leaving Ukraine empty-handed at a perilous moment in its war against Russia as divisions over finances threaten a €50bn lifeline.

CITY AM SAYS Soaring rents in London pose a “threat” to the capital’s competitiveness, a number of top business groups have warned, amid fears that young professionals are increasingly being priced out of the capital.

A funding boost could spell a boom time for British EV car manufacturing.

The Financial Times says investors are piling into risky assets amid a growing belief that the Federal Reserve and other central banks are close to winning their long-running battle with inflation.

The Financial Times splashes on allegations made by US federal prosecutors that an Indian government official orchestrated a plot to kill a Sikh separatist activist in New York.

The Financial Times leads on the news that Barclays is considering dropping thousands of clients at its investment bank as part of an overhaul aimed at boosting profits.

The Financial Times leads on reports that Turkey’s continued exports to Russia of vital war goods have caused tensions to flare between Ankara and several of its NATO allies.

Reuters was first to report that Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial
The post Nvidia delays launch of new China-focused AI chip appeared first on Reuters News Agency.

RUBBER group Sri Trang Agro-Industry on Monday (Nov 27) reported a net loss of 410.2 million baht (S$15.6 million) for the third fiscal quarter ended September.

CITY AM SAYS Some of the world’s biggest businesses have committed to invest a total of nearly £30bn in Britain.

The agreement at the conference of the parties (cop) to the UN Framework Convention on Climate Change, which took place in Paris in 2015, was somewhat impotent.

The Financial Times splashes on comments from Qatar saying that Hamas must find dozens of hostages if they hope to extend the truce with Israel.

Sunak welcomes foreign firms’ £29.5bn ‘vote of confidence’ Prime Minister Rishi Sunak is set to host a group of leading business figures on Monday to highlight plans for foreign firms’ to invest in the UK. Sunak said £29.5bn of new investment had been promised, which he described as a “huge vote of confidence” in the UK economy. Chancellor Jeremy Hunt’s Autumn Statement, released last week, included a raft of measures to encourage more business investment. …

GOLD prices rose on Monday well above a key US$2,000 level, supported by a weaker US dollar and on bets that the US Federal Reserve is done with its interest rate hike cycle.

CITY AM SAYS As the dust settles on Jeremy Hunt’s Autumn Statement, it has become increasingly clear that the Chancellor has taken a big bet.

Black Friday: Australian shoppers tipped to spend more than $6bn in four-day sales period The Guardian says Retailers say Black Friday has gotten off to a strong start, with Australians tipped to spend a record amount as they seek savings during the cost-of-living crisis. The Australian Retailers Association (ARA) has predicted shoppers will spend $6.36bn across the four days between Black Friday and Cyber Monday, up 3% from last year, according to their research in…