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The article discusses the challenge Japanese Prime Minister Shigeru Ishiba faces in retaining his leadership due to a shortage of students willing to work part-time at bars and karaoke joints during the busy year-end season. The issue stems from a tax threshold that discourages part-time work, affecting younger voters who are a key demographic. Ishiba's ability to address this problem and secure support from opposition parties will be crucial for his government's stability. The article highlights the proposed changes to the tax threshold and the potential impact on the economy and government finances. [Extracted from the article]

Terry Smith, a prominent money manager, is cautious about investing in Nvidia Corp. despite the stock's significant growth this year. Smith questions the sustainability of Nvidia's earnings stream and return on capital, particularly in the context of the artificial intelligence industry's uncertain future. While some analysts are optimistic about Nvidia's prospects, Smith's skepticism reflects broader concerns about the industry's ability to generate sufficient revenue to justify massive investments. Smith's Fundsmith Equity Fund has underperformed this year, partly due to a concentration of performance in a few stocks and the increasing popularity of index funds. [Extracted from the article]

Chinese authorities have banned popular blogger Sima Nan, known for his anti-Western views and criticism of the US. With over 3 million followers on Weibo, Sima was banned from various platforms for a year after expressing support for Donald Trump. Considered a symbolic voice of the nationalistic left, Sima frequently accused individuals and groups of betraying China's interests and colluding with the US, including accusing Lenovo Group Ltd. of unfair practices in 2021. [Extracted from the article]

Chinese stocks experienced a decline as investors awaited the outcome of a key legislature meeting that was anticipated to reveal stronger stimulus measures. The CSI 300 Index closed down 1% on Friday, despite a 5.5% weekly gain. Investors are particularly interested in potential fiscal plans to support the economy amidst concerns over tariffs under a second term of the Trump administration. Chinese President Xi Jinping has urged officials to intensify efforts to meet the nation's economic targets, while regulators have instructed banks to lower deposit rates to stimulate economic growth. [Extracted from the article]

Chinese stocks are on track for their best weekly performance in a month, with the CSI 300 Index up 6.9% for the week. Investors are hopeful that the conclusion of a key legislature meeting on Friday will bring stronger growth stimulus measures. The meeting of China's top legislators is expected to provide additional policy support to counter potential tariffs under a second Donald Trump presidency. Chinese President Xi Jinping has urged officials to intensify efforts to meet the nation's economic targets for the year. [Extracted from the article]

Ukrainian President Volodymyr Zelenskiy emphasized the need for weapons to combat Russia's invasion, rejecting talk of concessions to the Kremlin at a European summit in Budapest. As Russian forces continue to advance in eastern Ukraine, concerns over US support under President Trump's victory have arisen. Zelenskiy seeks US assistance to negotiate with Russia on Ukrainian terms and prevent a frozen conflict that could lead to further aggression. Despite uncertainties, Ukraine aims to bolster its defense capabilities with allied help for long-term security. [Extracted from the article]

Chinese stocks experienced a strong rebound following robust exports data and expectations of increased policy stimulus, despite concerns about potential trade frictions under a second Trump presidency. The CSI 300 Index rose 3%, reaching its highest level in a month, with Chinese firms listed in Hong Kong also seeing gains. Investors are optimistic about forthcoming fiscal and monetary stimulus measures from Beijing, with hopes pinned on the conclusion of a Chinese legislature meeting. The return of Trump to power is viewed as a challenge to China's economic recovery efforts, making the ongoing legislature meeting crucial for market sentiment. [Extracted from the article]

Chinese stocks experienced a rebound, with the CSI 300 Index and Chinese firms listed in Hong Kong both seeing gains after initial losses. This turnaround was driven by strong export growth in October, surpassing expectations and fueling hopes for increased fiscal stimulus to counter potential trade challenges under a second Trump presidency. Analysts anticipate further monetary and fiscal support from Beijing, with a focus on policy announcements following an upcoming Chinese legislature meeting. Additionally, Chinese regulators have instructed banks to reduce deposit rates to stimulate economic growth. [Extracted from the article]

Health insurers focused on the Medicare market saw a significant increase in their stock prices following the expectation that a second Trump administration would lead to higher rates for companies providing private versions of the US health program for seniors. UnitedHealth Group Inc. and Humana Inc. shares rose by up to 7.9% and 10%, respectively, while CVS Health Corp. shares increased by 7.2%. On the other hand, insurers reliant on Medicare revenue struggled under the Biden administration's stricter reimbursement rules, with Centene Corp. and Molina Healthcare Inc. experiencing stock declines. The article highlights the potential impact of political changes on the healthcare industry, with different insurers responding differently to shifts in government policies. [Extracted from the article]

Commerzbank AG is in the process of selling a significant risk transfer (SRT) linked to a portfolio of €2 billion in corporate loans to free up capital, led by CEO Bettina Orlopp. The SRT being sold is approximately €150 million, with final terms still under discussion with investors. SRTs, also known as synthetic risk transfers, are becoming increasingly popular among banks globally, with loans tied to SRTs reaching about $1 trillion as of end-September. Other banks involved in similar transactions include LBBW, Banco Santander SA, HSBC Holdings Plc, Deutsche Bank Ag, Helaba, Intesa SanPaolo SpA, and Bank of Ireland. [Extracted from the article]

Uber Technologies Inc. is proposing a 6.1% cut to New York City drivers' base pay rate, citing falling gasoline prices as a reason for the reduction. The company is also suggesting a ceiling of 3% for future inflation-related adjustments in its driver pay formula. The Taxi and Limousine Commission is reviewing Uber's petition, which comes as the commission prepares changes to the driver minimum-wage rule to protect driver pay and address loopholes that have caused financial strain on workers. The New York Taxi Workers Alliance has criticized Uber's proposal, calling it obscene and opportunistic, and has petitioned for stricter data reporting requirements in calculating driver pay. [Extracted from the article]

Uber Technologies Inc. is proposing a 6.1% cut to New York City drivers' base pay rate, citing falling gasoline prices as a reason for the reduction. The company is also suggesting a ceiling of 3% for future inflation-related adjustments. The Taxi and Limousine Commission is reviewing Uber's petition, as it prepares changes to the driver minimum-wage rule to protect driver pay and address loopholes that have caused financial strain on workers. The New York Taxi Workers Alliance has also petitioned for changes to the pay formula, seeking stricter data reporting requirements and accounting for lockouts in recalculating driver pay. [Extracted from the article]

Uber Technologies Inc. is proposing a reduction in the base pay rate for New York City drivers in response to lower gas prices. The company is recommending a 6.1% cut in the per-mile rate to $1.277 from the current $1.360, citing falling gasoline prices as the reason. This proposal comes as the Taxi and Limousine Commission prepares changes to the driver minimum-wage rule, with concerns raised by drivers' groups and city officials about the impact on driver pay and operations. The company argues that lowering costs will stimulate demand from riders, offsetting the potential decrease in total driver earnings. [Extracted from the article]

The Federal Reserve's preferred measure of underlying US inflation, the core personal consumption expenditures price index, increased by 0.3% in September and 2.7% from a year earlier. Overall inflation was 2.1%, slightly above the central bank's 2% goal. Consumer spending also rose by 0.4%, supported by growth in wages and salaries, indicating ongoing consumer resilience. The data suggest a cautious approach to interest-rate cuts in the future, with the Fed expected to authorize a second reduction at its upcoming policy meeting. [Extracted from the article]

The Federal Reserve's preferred measure of underlying US inflation, the core personal consumption expenditures price index, increased by 0.3% in September and 2.7% from a year earlier. Inflation-adjusted consumer spending rose by 0.4%, supported by continued growth in wages and salaries, while the saving rate fell to 4.6%, the lowest since 2023. The data suggest a cautious approach to rate cuts in the future, with the Fed expected to authorize a second reduction at its upcoming policy meeting. [Extracted from the article]

The Federal Reserve's preferred measure of underlying US inflation, the core personal consumption expenditures price index, increased by 0.3% in September and 2.7% from a year earlier. Inflation-adjusted consumer spending also rose by 0.4%, supported by continued growth in wages and salaries. The data suggest a cautious approach to interest-rate cuts in the future, with the Fed expected to authorize a second reduction at its upcoming policy meeting. [Extracted from the article]

The US economy expanded at a 2.8% rate in the third quarter, driven by increased consumer spending and government defense expenditures. Consumer spending rose by 3.7%, with notable increases in goods like autos and household furnishings. Despite concerns about trade figures and high mortgage rates affecting the housing market, the overall economic outlook remains positive, with GDP growth holding above 2.5% for a sixth consecutive quarter. The Federal Reserve is expected to continue cutting interest rates in the coming quarters based on these figures. [Extracted from the article]

(Bloomberg) -- Private equity managers will have to pay 32% tax on their carried interest gains from April 2025, Chancellor of the Exchequer Rachel Reeves said in the budget.That compares to the 28% capital gains tax rate they currently pay on the profits made on asset sales.There will be more changes to the carried interest regime from April 2026, to make it "simpler, fairer and better targeted," Reeves said in her speech Wednesday.Follow live budget coverage©2024 Bloomberg L.P.By Katherine GriffithsReported by Author [Extracted from the article]

The US economy expanded at a 2.8% rate in the third quarter, driven by increased consumer spending and government defense expenditures. Consumer spending rose by 3.7%, with broad increases in goods purchases. The Federal Reserve's target inflation rate was met, and the economy showed solid momentum in domestic demand. Despite overall growth, income distribution disparities persist, with profits outpacing personal income growth. [Extracted from the article]

The US economy expanded at a 2.8% rate in the third quarter, driven by increased consumer spending and government defense expenditures. Consumer spending rose by 3.7%, with notable increases in goods like autos and household furnishings. Despite concerns about trade figures and high mortgage rates affecting residential investment, the overall economic outlook remains positive, with GDP growth holding above 2.5% for a sixth consecutive quarter. [Extracted from the article]

(Bloomberg) -- Private equity managers will have to pay 32% tax on their carried interest gains from April 2025, Chancellor of the Exchequer Rachel Reeves said in the budget.That compares to the 28% capital gains tax rate they currently pay on the profits made on asset sales.There will be more changes to the carried interest regime from April 2026, to make it "simpler, fairer and better targeted," Reeves said in her speech Wednesday.Follow live budget coverage©2024 Bloomberg L.P.By Katherine GriffithsReported by Author [Extracted from the article]

The US economy expanded at a 2.8% rate in the third quarter, driven by increased consumer spending and government defense expenditures. Consumer spending rose by 3.7%, with broad increases in goods purchases. The report indicates solid momentum in domestic demand and steady normalization of rates, with government spending and business investment also showing growth. [Extracted from the article]

Japanese companies are struggling to find suitable female candidates for external director positions due to a lack of training for women in top corporate roles. Progress on diversity is slow, with the number of female directors needing to more than double to meet the government's target of 30% by 2030. Concerns are emerging over the experience level of new directors and the lack of support provided for them, highlighting the need for more training and opportunities for women in leadership positions. Foreign investors and some domestic investors are pressuring firms to improve diversity, recognizing the importance of different perspectives in decision-making processes. [Extracted from the article]

The UK minimum wage is set to increase by 6.7% next year, exceeding inflation rates. This raise will benefit over 3 million workers, with the lowest earners seeing their hourly wage rise to £12.21. The government's move aims to support working people facing financial challenges, but it may pose challenges for businesses and the Bank of England in managing inflation and economic pressures. [Extracted from the article]

Volkswagen AG is undergoing a significant restructuring in Germany due to long-standing issues within its namesake brand. The company plans to close multiple factories, reduce wages for workers, freeze pay, and make other cost-cutting measures. This move reflects the challenges Volkswagen faces in addressing overcapacity and high costs, particularly as it struggles with the transition to electric vehicles. The restructuring efforts are seen as necessary for the company's survival, despite the potential impact on Germany's economy. [Extracted from the article]

Volkswagen AG is undergoing a significant restructuring in Germany due to long-standing issues within its namesake brand. The company plans to close multiple factories, reduce wages for workers, freeze pay, and make other cost-cutting measures. These actions are seen as necessary to address overcapacity and high costs, with the company's CEO stating that changes are essential for sustainability. The restructuring is a major cultural shift for Volkswagen, as past efforts to make such cuts have been difficult due to the influence of labor representatives on the company's board. [Extracted from the article]

Swiggy Ltd., an Indian food-delivery platform, is planning to launch an initial public offering (IPO) to raise $1.35 billion by selling shares at 390 rupees ($4.64) each. The IPO is set to open for bids from Nov. 6 to Nov. 9, with trading expected to begin on Nov. 13. Swiggy, founded in 2014, partners with over 200,000 restaurants in India and faces competition from other players in the country's quick commerce sector. [Extracted from the article]

Swiggy Ltd., an Indian food-delivery platform, is planning to launch an initial public offering (IPO) to raise $1.35 billion by selling shares for up to 390 rupees ($4.64) each. The IPO is set to open for bids on November 6, with shares expected to begin trading on November 13. Swiggy, founded in 2014, partners with over 200,000 restaurants in India and competes with other major players in the country's fast-growing quick commerce sector. [Extracted from the article]

Lyft has agreed to pay $2.1 million to settle a lawsuit with the FTC, which accused the company of misleading drivers about potential earnings. The FTC alleged that Lyft's advertisements inflated hourly earnings by more than 20% in some cases. This settlement is part of ongoing disputes over driver pay in the rideshare industry, with lawmakers in some states enacting minimum wage standards for gig workers. The FTC emphasized the importance of truthful marketing to protect workers' livelihoods. [Extracted from the article]

Lyft Inc. has agreed to pay $2.1 million to settle a lawsuit with the US Federal Trade Commission, which accused the ride-hailing company of deceiving drivers about potential earnings post-pandemic. The FTC alleged that Lyft misled drivers with false "Earnings Guarantees" in advertisements, inflating hourly earnings by more than 20% in some cases. This case is part of a larger trend of disputes over driver pay involving Lyft and Uber, with lawmakers in some states enacting minimum wage standards for rideshare workers. Lyft has committed to improving driver pay transparency as part of the settlement. [Extracted from the article]

The Malaysian government is preparing for potential public backlash as it plans to roll back petrol subsidies by mid-2025, a move aimed at demonstrating commitment to fiscal reform. The proposed two-tier pricing system for RON95 petrol could save the government 8 billion ringgit annually but may lead to inflation and price hikes. Prime Minister Anwar Ibrahim's administration is focused on managing the subsidy reforms to boost investor confidence and strengthen the economy, with a goal of reducing the fiscal deficit and retaining Malaysia's credit score. [Extracted from the article]

Charter Communications Inc. is planning a major marketing push to promote over 10 streaming services included in its cable-TV packages at no additional cost to customers. The company aims to prevent cord-cutting and attract new subscribers by offering popular streaming services like Peacock, Max, and Discovery+. Charter has signed deals with major media companies to offer these services, with plans to negotiate separate deals for services like Netflix, Amazon Prime Video, and Apple TV+. Despite losing video subscribers, Charter's strategy focuses on integrating streaming services to retain customers and adapt to changing viewing habits. [Extracted from the article]

The Malaysian government is preparing for potential public backlash as it plans to roll back petrol subsidies by mid-2025, a move aimed at fiscal reform and investor confidence. The proposed two-tier pricing system for RON95 petrol could save the government 8 billion ringgit annually but may lead to inflation and price hikes. Prime Minister Anwar Ibrahim's administration is focused on managing the subsidy reforms to boost the economy and reduce the fiscal deficit, aiming to retain Malaysia's credit score and attract investors. [Extracted from the article]

(Bloomberg) -- The union representing 33,000 striking Boeing Co. workers is presenting members with a proposal to end the work stoppage, saying the plan includes several key improvements over the planemaker's previous offers.©2024 Bloomberg L.P.By John J. Edwards IIIReported by Author [Extracted from the article]

The European Central Bank's Governing Council Member Madis Muller believes that inflation is on track to reach the 2% goal, despite economic weakening. Muller warns of potential risks to prices due to the rapid increase in service prices and wages in the euro area. He suggests that the ECB may not need to maintain current interest rates to curb inflation, especially with expectations of rate cuts in the near future. The slow economic recovery in countries like Germany and France further supports this view. [Extracted from the article]

The European Central Bank's Governing Council Member Madis Muller believes that inflation is on track to reach the 2% goal, despite economic weakening, but warns of ongoing risks to prices, particularly in services and wages. Muller suggests that the ECB may not need to maintain current interest rates to curb inflation, especially with slow economic recovery in Germany and France. Market expectations of a rate cut by the ECB could lead to a smoother economy as inflation decreases. [Extracted from the article]

New York City Comptroller Brad Lander is advocating for changes to city regulations to end app lockouts by Uber and Lyft, which have allowed the companies to avoid paying drivers fairly. These lockouts prevent drivers from working, causing financial and mental strain. Lander is working with the Taxi Workers Alliance and city council members to address this issue and ensure that drivers are paid a living wage. The current minimum pay rule for rideshare drivers is being exploited by Uber and Lyft, who are using lockouts to manipulate driver availability and avoid paying fair wages. [Extracted from the article]

New York City Comptroller Brad Lander is advocating for changes to city regulations to end app lockouts by rideshare companies like Uber and Lyft, which have exploited a loophole in the minimum wage law to save money. The lockouts prevent drivers from working, causing financial and mental strain on workers. Lander is working with the Taxi Workers Alliance and council members to address this issue and ensure that drivers are fairly compensated. Uber and Lyft have different perspectives on the lockouts, with Lyft suggesting a different pay model. Lander is seeking data to understand the impact of lockouts and develop new policies to uphold the intent of the 2018 law. [Extracted from the article]

US retail sales in September exceeded expectations, with a 0.4% increase in purchases, excluding inflation. Various categories saw growth, with miscellaneous store retailers, apparel, and grocery stores leading the way. Despite expectations of a strong increase, auto sales barely rose. The data suggests continued consumer spending driving economic growth, with control-group sales surging 0.7% and wages increasing in August. However, research indicates that higher-income consumers are primarily fueling this growth, and upcoming data will provide more insight into spending patterns. [Extracted from the article]

US retail sales in the US increased by 0.4% in September, surpassing expectations and indicating strong consumer spending. Various categories, such as miscellaneous store retailers, apparel, and grocery stores, saw significant growth, while auto sales remained stagnant. Despite the positive retail report, the Federal Reserve is still expected to cut interest rates next month. The data also suggests that higher-income consumers are driving economic growth, with spending on goods increasing at a robust pace. [Extracted from the article]

New York City Comptroller Brad Lander is advocating for changes to city regulations to end app lockouts by Uber and Lyft, which have been used to circumvent the city's minimum wage law. These lockouts prevent drivers from logging into the apps, impacting their ability to work and earn a living wage. Lander is working with the Taxi Workers Alliance and other advocates to address this issue and ensure that drivers are fairly compensated. The companies have defended the lockouts as necessary during low-demand periods, but Lander is pushing for new rules to uphold the original intent of the minimum pay law. [Extracted from the article]

New York City Comptroller Brad Lander is advocating for changes to city regulations to end app lockouts by Uber and Lyft, which have allowed the companies to avoid paying drivers fairly. These lockouts prevent drivers from working and have caused financial and mental strain on workers. Lander is working with the Taxi Workers Alliance and city council members to address this issue and ensure that drivers are paid a living wage. Uber and Lyft have defended the lockouts as necessary under current regulations, but Lander is pushing for transparency and accountability in recalculating driver pay rates. [Extracted from the article]

The article discusses how Japan's wage growth could impact Prime Minister Shigeru Ishiba's leadership and the Bank of Japan's decision on interest rate hikes. The upcoming annual wage negotiations, with the largest labor union seeking 5% or more in wage hikes, will be crucial in determining the strength of the trend. The timeline of key events related to wage negotiations over the next year, including announcements by major corporations and the final tally in July, will provide insights into the country's economic trajectory. [Extracted from the article]

The article discusses how Japan's wage growth could impact Prime Minister Shigeru Ishiba's administration and the timing of the central bank's next interest rate hike. The country's largest labor union federation is seeking 5% or more in wage hikes, indicating ongoing upward pressure on pay. The Bank of Japan is closely monitoring wages for evidence of rising wages and prices before considering more rate increases. Key events related to wage negotiations over the next year are outlined, including announcements from major corporations and the final tally of pay increases expected in July. [Extracted from the article]

Sweden's battery manufacturer, Northvolt AB, is making progress in its rescue talks and assures that it will meet its payroll obligations later this month. The company is working intensively to secure new financing and is prepared to pay salaries in October. Northvolt aims to raise around €200 million ($218 million) to address its short-term needs, with €150 million already secured under verbal agreements. The company has faced challenges in scaling up battery cell production and has scaled back major projects to focus on increasing output at its main plant. [Extracted from the article]

British workers are likely to experience a slowdown in the growth of their living standards after a period of significant wage increases. The Office for National Statistics reported that regular pay growth, adjusted for inflation, was 2.6% in the three months leading up to August. However, this pace was the slowest since the first quarter, and forecasts from the Bank of England suggest that the gap between wage growth and inflation will narrow to just 0.8 percentage points next year. This shift comes at a challenging time for Prime Minister Keir Starmer, who has faced a difficult start to his tenure and declining approval ratings. Potential factors that could further impact future pay rises include a weakening job market, speculation about an increase in business payroll tax, and concerns about the state of the UK's public finances. While the headline unemployment rate has fallen to 4%, economists have expressed doubts about the accuracy of these figures. The data suggests that future pay growth will need to be driven by rising productivity rather than a strong job market. [Extracted from the article]

Keir Starmer's new UK government is set to introduce a Workers' Rights Bill that aims to balance the interests of Labour Party's union funders and business leaders. The bill will include provisions such as giving workers the right to request contracts based on their regular hours, introducing entitlements to sick pay from day one of employment, strengthening parental rights, and capping probation periods at six months. However, some measures, such as the ban on zero-hours contracts and protection against unfair dismissal, have been watered down due to disagreements between unions and businesses. The bill will also not include provisions on worker surveillance and fire and rehire practices. The measures in the bill will be subject to consultation and are not expected to be fully implemented until 2026. [Extracted from the article]