German industrial orders fell unexpectedly in NovemberSteam rises of the coking plant near the Schwelgern blast furnace at the German industrial group ThyssenKrupp’s plant in Duisburg, western Germany, on October 14, 2024. Ina Fassbender | Afp | Getty ImagesGerman industrial orders fell unexpectedly in November, data released Wednesday showed, reflecting more gloom in Europe’s largest economy.Industrial orders were down 5.4% in November, compared to the previous month, according to data released by Germany’s Federal Statistical Office (Destatis).New orders excluding large-scale ones were nevertheless 0.2% higher than in the previous month, the office said. Analysts polled by Reuters had expected no change…
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South Korea’s Presidential Security Service, an agency assigned to protect the president, prides itself on being the “last bastion for a safe and stable state administration.” It is now at the heart of South Korea’s biggest political mess in decades, acting as a final line of defense to prevent criminal investigators from detaining President Yoon Suk Yeol on charges of insurrection.Since his impeachment over a short-lived martial law declaration last month, Mr. Yoon has been holed up in central Seoul, in a hilly compound that is now surrounded by barricades of buses, barbed wire and the presidential bodyguards. He has…
Plumes of smoke are seen as a brush fire burns in Pacific Palisades, California on Jan. 7, 2025.David Swanson | AFP | Getty ImagesA wildfire burned about 200 acres (80 hectares) and threatened homes in an upscale section of Los Angeles on Tuesday, forcing evacuations after officials had already warned of extreme fire danger from dry, powerful winds.The Pacific Palisades fire between Santa Monica and Malibu led the Los Angeles Fire Department to issue a mandatory evacuation order for a large area from the hills of Topanga Canyon down to the coastline.People evacuate with belongings, as a wildfire breaks-out near…
A drone view shows BYD’s new electric vehicle (EV) factory’s construction site in Camacari, Brazil December 26, 2024. Joa Souza | ReutersElectric vehicle producer BYD brought hundreds of Chinese workers on irregular visas to build a factory in Brazil, a key labor inspector told Reuters on Tuesday, adding the company has pledged to comply with local labor laws for the workers remaining in the country.A total of 163 of those workers, hired by BYD contractor Jinjiang, were found last month to be working in “slavery-like conditions.”All of them are leaving or have already left Brazil, said Liane Durao, who has spearheaded the probe announced in late December. She added that about 500 Chinese workers in total were brought into the country by BYD.BYD and Jinjiang did not immediately reply…
U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan Howard | ReutersThe U.S. state of Alaska has sued the Biden administration for what it calls violations of a Congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge.Monday’s lawsuit in the U.S. District Court in Alaska challenges the federal government’s December 2024 decision to offer oil and gas drilling leases in an area known as the coastal plain with restrictions.The lawsuit said curbs on surface use and occupancy make it “impossible or impracticable to develop” 400,000 acres (162,000 hectares) of land the U.S. Interior Department plans to auction this month to oil and gas drillers.The limits would severely…
Rescuers working in subzero conditions and bracing winds searched the rubble on Wednesday after a strong quake in Tibet toppled thousands of houses in a remote area near the northern foothills of Mount Everest. Tens of thousands of residents were being transferred to safety while dozens were being treated for injuries.At least 126 people have died and 188 were injured in the quake, which struck on Tuesday morning in Dingri County, near one of Tibet’s most historic cities, in western China, state media reported. The quake was China’s deadliest since December 2023, when 151 people were killed in a magnitude…
Four ETFs in Europe and North America have beaten the S & P 500 over the past five years, according to a screen by CNBC Pro. The U.S. benchmark rose by 23.3% in 2024 and 24.2% the previous year, making it particularly challenging for funds to outperform. It’s only the third time the S & P 500 has logged back-to-back gains of that size in the past century, according to Deutsche Bank. .SPX line 2024-01-01 CNBC Pro screened over 10,600 ETFs listed in Europe and North America that beat the S & P 500 every year between 2020 and 2024,…
Meta is ending its fact-checking programMeta will stop using third-party fact-checkers on Facebook, Threads and Instagram, a policy once instituted to curtail the spread of misinformation across the tech company’s social media platforms. Meta will instead rely on users to add notes to posts that may be false or misleading.The reversal is a stark sign of how Meta is repositioning itself for the Trump presidency. The company recently gave a heads-up to Trump officials about the change, according to a person with knowledge of the conversations. Mark Zuckerberg, the chief executive of Meta, also said on Monday that it had…
The ‘Fast Money’ traders the 10-year Treasury yield hitting an 8-month high. Source link
Goldman Sachs is bullish on one of Italy’s cable manufacturing giants: Prysmian . The company is set to benefit from strong secular demand trends and superior earnings visibility, the investment bank said in a Jan. 2 research note. Prysmian makes underground and submarine cables and systems for power transmission and distribution. Prysmian is among the latest additions to Goldman’s “Conviction List – Directors’ Cut,” which it says offers a “curated and active” list of 15-25 buy-rated stocks in Europe. The stocks are selected by a subcommittee in each region which collaborates “with each sector analyst to identify top ideas that…
