Economic News
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Exclusive: Trump to add China's SMIC and CNOOC to defense blacklist - sources
WASHINGTON (Reuters) - The Trump administration is poised to add China's top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to U.S. investors and escalating tensions with Beijing weeks before President-elect Joe Biden takes office.
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World stocks boast record-breaking month, led by Europe
SYDNEY (Reuters) - World shares were set to seal a record-busting month on Monday as the prospect of a vaccine-driven global economic recovery next year and yet more free money from central banks eclipsed concerns about the pandemic in the near-term.
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Analysis: Investors weigh prospects for U.S. corporate earnings as stocks set records
NEW YORK (Reuters) - As U.S. stocks scale fresh record highs, investors are trying to gauge whether next year's projected profit rebound will be strong enough to add fuel to the rally.
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OPEC+ yet to find compromise on oil policy for 2021, say sources
LONDON (Reuters) - OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial meetings on Monday and Tuesday, four OPEC+ sources told Reuters.
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China's factory activity expands at fastest pace in over three years
BEIJING (Reuters) - China's factory activity expanded at the fastest pace in more than three years in November, keeping it on track to be the first major economy to fully recover from the coronavirus crisis.
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EU proposes new post-Trump alliance with U.S. in face of China threat: Financial Times
(Reuters) - The European Union is seeking to forge a new alliance with the United States to bury the tensions of the Trump era and meet the challenges posed by China, the Financial Times reported on Sunday, citing a draft plan.
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Japan factory output grows for fifth month, retail sales surge
TOKYO (Reuters) - Japan's industrial output rose for the fifth straight month in October and retail sales in the same month grew the most in over a year, signalling the economy was recovering further from the damage caused by the COVID-19 crisis.
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Dollar plumbs two-year low as Fed comes in to focus
SYDNEY (Reuters) - The dollar fell to a more than two-year low on Monday and is set to log its largest monthly fall since July, as a combination of vaccine optimism and bets on more monetary easing in the United States drives investors out of the world's reserve currency.
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Oil prices slip in cautious trading ahead of OPEC+ meeting
SINGAPORE (Reuters) - Oil prices fell about 1% on Monday amid investor jitters ahead of an OPEC+ meeting to decide whether the producers' group will extend large output cuts to balance global markets.
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France's Niel, Pigasse target consumer goods with new acquisition vehicle
PARIS (Reuters) - French telecoms magnate Xavier Niel is teaming up with former Lazard banker Matthieu Pigasse and another entrepreneur to raise funds through a new listed vehicle to target acquisitions in the European consumer goods sector.
