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Shanghai is sinking while the sea level along China’s coastline is rising fast – the fastest in 4,000 years, possibly threatening China’s financial hub and the global supply chain, scientists warn in a new study.China faces a double threat from rising seas, as many of its largest and most economically important cities are concentrated in delta regions, which are flat lands close to water. They were ideal for urban development but extremely vulnerable to flooding, the team said.Shanghai, Shenzhen and Hong Kong are among key cities in delta regions, which are naturally prone to sinking because they were built on…

After a week-long rout that erased hundreds of billions in digital-asset value, bitcoin has again failed to live up to its billing as a safe-harbour asset.Once cast as a hedge against market turmoil – a “digital gold” for the blockchain age – the original cryptocurrency stabilised on Friday morning in Singapore after sliding alongside global equities and credit to hover near US$109,000, according to data compiled by Bloomberg.Bitcoin had struck an all-time high of US$126,251 as recently as October 6. Days later, a record spree of liquidations sparked by escalating US-China trade tensions coincided with a sharp sell-off that encompassed…

BRUSSELS (AP) — Europe’s main center-left political family on Friday kicked out the party of Slovakian Prime Minister Robert Fico, who is accused of cozying up to Russian President Vladimir Putin while undermining the rule of law in his own country.The Party of European Socialists voted unanimously to expel Fico’s Smer party for taking political positions in recent years that contradict “severely and deeply the values and principles our family stands for,” Secretary-General Giacomo Filibeck said.“This is a unanimous, clear message. If you belong to the PES family, you share the values that we all do,” Filibeck said after the…

Investors should consider buying into the pullback in Chinese stocks, even as a rotation from household savings to equities slows and the world’s two largest economies are locked in a renewed trade dispute, according to Morgan Stanley.A 10 to 15 per cent correction in the MSCI China Index would present a buying opportunity, especially amid signs that a meeting between Chinese President Xi Jinping and his US counterpart Donald Trump would still take place by the end of the month, as well as a potential upgrade of earnings forecasts, analysts led by Laura Wang at the American investment bank wrote…

Investors should consider buying into the pullback in Chinese stocks, even as a rotation from household savings to equities slows and the world’s two largest economies are locked in a renewed trade dispute, according to Morgan Stanley.A 10 to 15 per cent correction in the MSCI China Index would present a buying opportunity, especially amid signs that a meeting between Chinese President Xi Jinping and his US counterpart Donald Trump would still take place by the end of the month, as well as a potential upgrade of earnings forecasts, analysts led by Laura Wang at the American investment bank wrote…

Chinese electric-vehicle (EV) makers are raising the game in the premium segment by launching more spacious and longer-range models to challenge Tesla, which has been steadily losing market share on the mainland.Stellantis-backed Leapmotor has become the latest to join the fray against Elon Musk’s Tesla, with founder and CEO Zhu Jiangming describing its decision to move up the value chain as a mission to offer consumers the best EVs at the best prices.“Leapmotor is able to launch higher-end and more sophisticated models at affordable prices, which will prove to be a value-for-money proposition for all customers,” he said at an…

Chinese electric-vehicle (EV) makers are raising the game in the premium segment by launching more spacious and longer-range models to challenge Tesla, which has been steadily losing market share on the mainland.Stellantis-backed Leapmotor has become the latest to join the fray against Elon Musk’s Tesla, with founder and CEO Zhu Jiangming describing its decision to move up the value chain as a mission to offer consumers the best EVs at the best prices.“Leapmotor is able to launch higher-end and more sophisticated models at affordable prices, which will prove to be a value-for-money proposition for all customers,” he said at an…

Gold notched a new high above $4,300 an ounce on Friday and was poised for its best week in over 17 years, as signs of weakness in U.S. regional banks, global trade frictions, and further rate-cut hopes pushed investors to the safe-haven metal. Spot gold rose 0.9% to $4,362.39 per ounce, as of 0439 GMT, after scaling another record high of $4,378.69 earlier. U.S. gold futures for December delivery jumped 1.7% to $4,375.50. Bullion has risen about 8.6% this week and is headed for its best week since September 2008, notching a record high in each session. Spot silver rose…

Oil prices edged lower on Friday, heading for a weekly loss of nearly 3%, with uncertainty over global energy supplies after U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet in Hungary to discuss ending the war in Ukraine. Brent crude futures were down 16 cents, or 0.26%, at $60.90 a barrel at 0645 GMT, while U.S. West Texas Intermediate futures were 15 cents lower, also down 0.26%, at $57.31. This week’s decline was also partly due to the International Energy Agency’s outlook for a growing supply glut in 2026. Trump and Putin agreed on Thursday to…

LONDON (AP) — Pressure mounted Friday on police authorities in the English city of Birmingham to reverse a ban on Maccabi Tel Aviv soccer fans attending a Europa League game at Aston Villa next month over security concerns, a decision that drew condemnation from politicians, sports organizations and Jewish groups.British Prime Minister Keir Starmer said the police recommendation to bar the visiting team’s fans from the Nov. 6 game was “the wrong decision” and that “the role of the police is to ensure all football fans can enjoy the game, without fear of violence or intimidation.”Starmer spokesman Geraint Ellis said…