UK, Australia sign deal forecast to create 10 billion pounds in extra trade
Britain and Australia have signed a free trade deal projected to eventually boost bilateral trade by over 10 billion pounds ($13.3 billion), eliminating tariffs, opening up sectors like agriculture and allowing freer movement for service-sector professionals.
Oil prices head for weekly loss on Omicron coronavirus uncertainty
Oil prices dipped on Friday, putting the market on track for a narrow weekly loss, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand, while a weaker dollar supported commodity markets broadly.
MMG to halt Las Bambas copper production as talks to end blockade fail
MMG Ltd (1208.HK) said on Thursday it would shut production at its Las Bambas copper mine in Peru from Dec. 18 after the Australia-based miner failed to reach an agreement with the Peruvian community blocking a transport road used by the facility.
CBI cuts UK economic growth forecasts on supply chain hit
Britain’s economy looks set to grow more slowly than previously thought this year and in 2023 due to global supply chain problems and the government must encourage longer-term business investment, an employers group said on Monday.
Analysis: Japan keen to speed up digital yen launch as China adds geopolitical twist
Japan’s new political leadership is calling on the country’s financial bureaucrats to ramp up efforts toward issuing a digital currency, pointing to China’s far quicker progress as a potential challenge to the global economic order.
Australia to raise possibility of more legislation on tech giants with new inquiry
Australia’s Prime Minister Scott Morrison will on Wednesday announce a parliamentary inquiry into the behaviour of the world’s largest technology companies and the need for new legislation.
Japan joins Israel in barring foreigners as Omicron worries spread
Japan said on Monday it would close its borders to foreigners, as the world’s third-largest economy joined Israel in taking the toughest measures against the new coronavirus variant Omicron, which also cast a cloud over Australia’s re-opening plans.
Analysis: In Japan, a weaker yen may not be the blessing it once was
A weak yen, once seen as favourable for Japan’s exports-focused economy, has now become a pain point as it eats into household finances and confounds policymakers.
Japan PM Kishida urges companies to raise wages by 3% or more
Japanese Prime Minister Fumio Kishida on Friday urged companies whose earnings have recovered to pre-pandemic levels to raise wages by 3% or more at their labour talks next spring, aiming to achieve a virtuous cycle of growth and wealth distribution.
KKR makes $12 billion approach to take Telecom Italia private
Telecom Italia (TIM) (TLIT.MI) has received a 10.8 billion euro ($12 billion) approach from U.S. fund KKR (KKR.N) aimed at taking Italy’s biggest phone group private, the company said on Sunday.
