Economy
Xi says China must protect foreign firms' rights, intellectual property
Chinese leader Xi Jinping has ordered greater protection for international firms' rights and intellectual property, state media reported Tuesday, as Beijing works to lure in foreign companies spooked by a crackdown and an ailing economy.
Diamond trade polishes its act as Russia sanctions loom
As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new scrutiny of their industry. If traders are now seen helping Russia evade sanctions to keep financing its invasion of Ukraine, the shine may come off diamonds once again.
Six recycling innovations that could change fashion
The fashion industry's enormous waste problem is pushing governments, particularly in Europe, towards ambitious recycling targets. The problem is that recycling textiles is a highly complex task and technical solutions are still in their infancy.
Markets mixed as traders await US data, Fed speakers
Asian markets were mixed Tuesday following a tepid performance on Wall Street, with profit-taking tempering hopes for Federal Reserve interest rate cuts next year and traders awaiting key US inflation data due later this week. Data suggests traders see almost one percentage point of cuts through next year, with US Treasury yields continuing to come down from their 16-year highs last month.
Tesla sues Swedish state over strike fallout
Electric carmaker Tesla on Monday filed a lawsuit against the Swedish state over a strike by postal workers blocking deliveries of license plates for its new cars -- and received a first favourable decision the same day.
'Disastrous' gridlock hits S. Africa's busiest port
More than 60,000 containers are stuck at sea waiting to be offloaded at South Africa's biggest port amid gridlock blamed on bad weather and equipment failures that is damaging the poor economy, according to business and political groups. Transnet has said the delays in Durban are the result of bad weather compounding breakdowns, ageing equipment and other issues.
VW weighs staff reductions as electric shift stalls
German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.
Gucci design studio strikes over move to Milan
Some 40 artisans from Gucci's design studio downed tools Monday in the creatives' first ever strike, held over plans to move much of the team from Rome to Milan. While 153 employees are due to be transferred to Milan by March, the fate of the 66 other artisans due to remain in Rome "is uncertain", according to the unions.
Sales of new US homes slow in October
New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones. The resulting lack of supply for existing homes has nudged more buyers into the market for new houses instead, even as they grapple with affordability.
Economy
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