Author: admin

Copper prices fell on Monday, weighed down by a slightly firmer dollar, fading hopes for another Federal Reserve rate cut and a host of macro concerns. Benchmark three-month copper on the London Metal Exchange was down 0.5% at $10,802.50 per metric ton in official open outcry trading. The metal used in power, construction and manufacturing is considered a bellwether for the health of the global economy. “There is little change to the underlying narrative in base metals … with the market largely defined by muted activity as participants wait for delayed U.S. economic data and clarity on monetary policy,” Neil…

Two of Philippine President Ferdinand Marcos Jnr’s most senior cabinet members have resigned, as mass protests and corruption allegations intensify pressure on his embattled administration over the widening flood control corruption scandal.Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman quit late on Monday, days after being implicated in the scandal by fugitive ex-lawmaker and former Marcos ally Zaldy Co.The resignations came as a rally, which started on Sunday and was led by the religious sect Iglesia ni Kristo (INC) in Manila’s Luneta, swelled by Monday evening to an estimated 600,000 crowd, according to the Manila Police District. INC said…

Global currency markets began the week cautiously, with the dollar edging slightly higher against the euro, yen, and sterling as traders adjusted their positions ahead of what is expected to be a busy week, with U.S. economic data set to return after a long pause.   Market reaction was limited after U.S. President Donald Trump reversed his decision to impose tariffs on more than 200 food products, with some analysts noting that the move was not surprising given the pressure the tariffs had placed on living costs.   Market attention this week will center on a series of U.S. economic…

The Club’s top 10 things to watch Monday, Nov. 17 Stock futures are relatively muted early this morning. The market is coming off a volatile week, driven by doubts about the sustainability of AI spending and whether a December interest rate cut is still on the table. Morgan Stanley issued a double downgrade on Dell to sell on concerns that a memory pricing supercycle will hurt margins. Meanwhile, Morgan Stanley also downgraded HP Inc . to sell and Hewlett Packard Enterprise to hold. The Financial Times reported Friday that long-time Apple CEO Tim Cook might step down next year. Apple’s…

LONDON (AP) — The British government’s plan to tighten its asylum system met sharp resistance Monday from inside its own party but was getting some support from political rivals in a sign of how divisive the immigration issue has become.Before Home Secretary Shabana Mahmood even released details of the sweeping plan to make the U.K. less attractive to asylum-seekers and migrants easier to remove she was trying to quell a backlash from center-left Labour Party backbenchers who accused her of trying to court the far-right.“It’s shameful that a Labour government is ripping up the rights and protections of people who…

China will “actively consider” helping Syria’s post-war reconstruction, Foreign Minister Wang Yi said, as he called for the two countries to get relations back on track.Wang made the comments in a meeting on Monday with his Syrian counterpart Asaad al-Shaibani, who was making his first trip to Beijing since the downfall of Bashar al-Assad last year.Wang also urged the new government to act against Uygur militant groups that have been linked to the fight against Assad.At Beijing’s request, Damascus intended to hand over 400 Uygur jihadist fighters to Beijing, Agence France-Presse reported on Monday, citing Syrian government sources.“Both China and…

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. Beijing rejects G20 Japan meeting with Premier Li amid deepening Taiwan rowChina continued a diplomatic chill with Japan over the weekend by ruling out a leaders’ meeting at the coming G20 summit in South Africa amid heightened tensions.2. Chinese student numbers in US fall as gap with Indian scholars widens: reportChinese student numbers in the United States have continued to decline over the past year, but they remain the second-largest student group after Indians and…

A draft of the “Anti-Monopoly Compliance Guidelines for Internet Platforms”, published over the weekend by the State Administration for Market Regulation (SAMR), focused heavily on the sophisticated, often opaque ways in which online platforms with significant market power can exploit technological advantages to exclude rivals and harm consumer interests.The document identified eight “new risks”, including collusion among platforms through coordinated algorithms to fix pricing and commission fees, dominant players forcing merchants to sign exclusive contracts, and practices like excessive subsidies or unjustified refusals to allow merchants to operate stores.It explicitly prohibited platforms with a dominant market position from “imposing application-layer…

Taiwan is watching anxiously as it finds itself at the centre of a verbal clash between Beijing and Tokyo, fuelling fears that Taipei could be drawn into a major international conflict.Though the island’s government has openly embraced Tokyo’s stance and condemned Beijing’s response as “hegemonic”, critics and political analysts have cautioned that Taiwan is now at risk of becoming a flashpoint in a confrontation between two major world powers.The row erupted after Japanese Prime Minister Sanae Takaichi suggested earlier this month that a Taiwan crisis could be a “survival-threatening situation” for Japan, justifying a collective self-defence response. She said that…

The Guangzhou-based firm’s net loss narrowed by nearly 80 per cent to 380.9 million yuan (US$53.6 million) in the third quarter from 1.81 billion yuan a year earlier, according to a filing to the Hong Kong stock exchange.Revenue surged 101.8 per cent year on year to 20.38 billion yuan, driven by record deliveries of 116,007 units, up nearly 150 per cent from a year earlier. Its gross margin improved to 20.1 per cent from 15.3 per cent a year earlier, while vehicle margin rose to 13.1 per cent from 8.6 per cent.Xpeng is broadening its ambitions into advanced mobility and…