Economy
Stocks mixed, oil subdued as traders eye Mideast and central banks
Asian stocks were mixed Tuesday, with traders tracking developments in the Middle East crisis as Israel presses on with its ground incursion of Gaza, while hopes the conflict will not spill over regionally kept oil prices subdued. With worries about supplies from the crude-rich Middle East subsiding for now, both main oil contracts edged up slightly Tuesday.
Samsung Electronics says Q3 operating profits down 77.57%
South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down 77.57 percent from the year before, even as new smartphone releases boosted revenue. The company said net profit dropped 37.7 percent year-on-year to 5.8 trillion won -- though it represents a rebound from the second quarter's 1.7 trillion won.
Panama tribunal rejects holding mine deal referendum
Panama's electoral tribunal on Monday dismissed the idea of organizing a referendum in December on a mining contract that has ignited countrywide protests. "At this time, the conditions are not in place to organize a... popular consultation," the court's president Alfredo Junca told reporters Monday, in reference to the very unrest the referendum was meant to quell.
US auto workers union reaches tentative deal with GM
The US auto workers union reached a tentative agreement with General Motors on a new labor contract Monday, a source close to negotiations told AFP, paving the way to ending a six-week strike at major car manufacturers. The in-principle pacts still need to be ratified by workers in a vote, in a process that could take two weeks, a source close to negotiations earlier said.
HSBC profits surge on higher interest rates
Banking giant HSBC on Monday posted surging profits for the third quarter as lenders pass on interest-rate hikes carried out by central banks. The London-listed lender added Monday that third-quarter revenue jumped 40 percent to $16.2 billion in the third quarter year-on-year.
Musk pulls plug on paying for X factchecks
Elon Musk has said that corrections to posts on X would no longer be eligible for payment as the social network comes under mounting criticism as becoming a conduit for misinformation. Musk warned against using corrections to make X users ineligible for receiving payouts.
German economy shrinks slightly in third quarter
German output shrank in the third quarter, official data published Monday showed, adding to a continued gloomy picture for Europe's largest economy despite falling inflation. The indicator fell again to 3.8 percent in October, according to data published by Destatis on Monday, with energy prices posting their first year-on-year fall since January 2021.
One killed in clashes at Bangladesh garment workers protests
Thousands of garment workers in Bangladesh held protests demanding nearly three-fold minimum wage hikes on Monday, with one person killed during clashes with security forces, police said.
Taiwan's Foxconn calls for 'confidence' in wake of Chinese tax probe
Taiwan-based tech giant Foxconn said Monday its current operations were "normal", calling for confidence in the company after a tax probe launched by Chinese authorities. Last week, the company said it would cooperate with the relevant authorities in their probing of "operations concerned", but did not provide further details.
Economy
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