BUSINESS

'Megaquake' Warning Hits Japan's Growth

Wage hikes and temporary income tax cuts were positive factors for growth in Japan
A "megaquake" alert in August and one of the fiercest typhoons in decades resulted in gross domestic product (GDP) expanding just 0.2 percent between July and September from the previous quarter, according to preliminary government data.
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Traders are awaiting the release of US inflation data, which could play a role in the Federal Reserve's thinking ahead of next month's monetary policy meeting

Stock Markets Diverge As Trump Fears Build

The prospect of higher prices on the back of Trump's planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican's election win last week.
Shell is appealing the landmark 2021 ruling

Dutch Court To Rule In Shell Climate Appeal

The ruling at the Hague Appeals Court comes as governments of some 200 countries gather at the COP29 talks in Azerbaijan to discuss the future of the planet including a transition to clean energy.
Unfinished apartments at a complex in  Xinzheng City in Zhengzhouin 2023. China is looking to slash taxes on home purchases as the government strengthens fiscal support for the ailing real estate sector

China Planning To Cut Taxes On Home Buying: Report

Regulators are preparing a proposal that would enable major cities such as Shanghai and Beijing to reduce the deed tax for buyers to as low as one percent from the current level of up to three percent, Bloomberg News said, citing people familiar with the matter.
Powell's current term as Fed chair ends in 2026

US Fed Chair Says Will Not Leave Early If Asked By Trump

Speaking at a press conference after unveiling a quarter point interest rate cut, Powell -- whose term as Fed chair ends in 2026 -- added that firing any of the Fed's seven governors was also "not permitted under the law."
Novo Nordisk said sales of weight-loss injection Wegovy soared 42 percent in the first nine months of 2024

Obesity Drug Maker Novo Nordisk Posts Strong Profit

Danish pharmaceutical giant Novo Nordisk, maker of the blockbuster diabetes and weight-loss drugs Ozempic and Wegovy, posted Wednesday strong third-quarter earnings despite being held back by production constraints.
Meta collected sensitive information from around 980,000 domestic users in South Korea through their Facebook profiles, said Seoul's data watchdog

South Korea Fines Meta For Illegal Collection Of User Data

The firm, which also owns Instagram, violated South Korean laws prohibiting the use of information on political opinions, religious beliefs and people's sex life unless the individual provides explicit consent, Seoul's Personal Information Protection Commission said.
Investors are jockeying for position ahead of Tuesday's vote, with polls showing Kamala Harris and Donald Trump neck and neck nationally and in key states

Asian Markets Swing Ahead Of Toss-up US Election

Asian markets fluctuated Tuesday as traders jockeyed for position a day before results from the US presidential election rolled in, with opinion polls showing the vote on a knife-edge as the two candidates wrapped up their campaigns.

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