Meanwhile, enterprises exposed to international headwinds, like mining, reported a slump in output. Electric and petrol utilities’ performance also sagged as crude oil resumed its slide due to the lingering oversupply concerns. US mining output, including crude oil extraction, slid 1.5% in October as cheap commodities have forced producers to take measures supporting the prices, whilst utilities sagged 2.5% overall: petrol prices are on a losing streak again despite the coming winter. … [Read more...] about Rate Hike in Sight: US Manufacturing, Inflation Rise Despite Strong Dollar
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De Blasio Says New York City Cutting Business Ties With Trump Organisation
"The president incited a rebellion against the United States government, a clearly unconstitutional act", the Democratic mayor contended, adding: "That's unforgivable". Amid accusations that Trump allegedly incited the Capitol mob on 6 January, the PGA voted to strip its namesake championship from Trump's Bedminister golf course in New Jersey, next year. Also, a British golf organisation also said the British Open will not be hosted by a Trump property in the "foreseeable future", and the e-commerce company Shopify moved to stop its involvement in running the online Trump Store. … [Read more...] about De Blasio Says New York City Cutting Business Ties With Trump Organisation
Bank of England adapts bank stress test for pandemic era
The Bank of England said on Wednesday the aim of its banking stress test this year is to check if banks can continue helping the economy during the pandemic and if a return to more normal levels of dividends is possible.The British central bank cancelled its annual health check of banks last year so they could focus on keeping credit flowing to an economy hit by its worst downturn in 300 years due to COVID-19 lockdowns.Stress tests focus on the ability of banks to face major theoretical shocks, but the focus now changes given the economy has entered a real stress with COVID-19, the BoE said."At this point stress tests are used to assess whether the buffers of capital that banks have built up are large enough to deal with how the prevailing stress could unfold," the BoE said in a statement.The BoE said this year's test of leading banks will be conducted in a "staggered" way, with banks submitting their initial projections in April on coping with a range of market shocks without going … [Read more...] about Bank of England adapts bank stress test for pandemic era
Palestine slams Israel’s plan to build 2,572 new settlement units in West Bank, East Jerusalem
Abu Rudeineh stressed that all Israeli settlement activities are violating the international law, as well as the international legitimacy resolutions, especially the resolution of 2334, which was adopted by the international community, including the United States. Enditem … [Read more...] about Palestine slams Israel’s plan to build 2,572 new settlement units in West Bank, East Jerusalem
Chongqing’s business environment indicators exceed world average: World Bank
It is worth noting that to further standardize and reduce enterprise-related costs, government purchases of services are often used to eliminate hidden costs, and the entire process of starting a business is handled free of charge. Other practices include simplifying the approval process of submitted materials, where the transfer registration of stock housing was reduced to one step only, and the certificate can be obtained on the spot right away. … [Read more...] about Chongqing’s business environment indicators exceed world average: World Bank
