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Crippling high beef prices are being felt by everyone. Tyson Foods , for example, announced plans last month to close its beef plant in Lexington, Nebraska. Roughly 3,200 workers will lose their jobs at what had long been the area’s largest employer. The Wall Street Journal on Tuesday ran a sobering story about the ripple effect of next month’s closure after two decades of operation. In its Nov. 21 announcement, Tyson said it is closing the Lexington plant as part of a plan to “right-size its beef business” in the face of a historically low cattle herd in the United…

The US dollar fell on Wednesday and was on track to record its largest annual loss since 2017, with scope for further declines, as investors bet that the Federal Reserve will have room to cut interest rates more aggressively next year, while most other major central banks are seen as having largely завершed their easing cycles.   Strong US gross domestic product data released on Tuesday failed to alter interest-rate expectations, with investors continuing to price in around two additional rate cuts by the Federal Reserve in 2026.   David Mericle, chief US economist at Goldman Sachs, said: “We expect…

Brazil is preparing to waive visa requirements for Chinese citizens travelling for tourism and business, local media reported on Wednesday citing government sources, in a move that would mark a significant shift in policy and deepen ties with its largest trading partner.According to local newspaper Valor Economico, the decision reflects a growing view within President Luiz Inacio Lula da Silva’s government that easing entry rules would boost tourism, trade and investment, outweighing long-standing concerns about migration risks. China is Brazil’s largest commercial partner and one of the fastest-growing sources of foreign visitors, with more than 76,000 visitors just in 2024.The…

The Privatisation Commission Board (PC Board) on Wednesday recommended the bid offer – Rs135 billion for 75% stake in the Pakistan International Airlines (PIA) – submitted by the Arif Habib consortium for consideration and approval by the Cabinet Committee on Privatisation, an official statement stated. The development comes after Pakistan government concluded on Tuesday the sale of a 75% stake in its national carrier for Rs135 billion, giving an end to years of stalled efforts to privatise the loss-making airline. Arif Habib consortium bought the managing stake in the national carrier. The consortium is comprised of Arif Habib Corporation Limited,…

The Club’s 10 things to watch Wednesday, Dec. 24 1. Wall Street is headed for a muted open in this holiday-shortened session that ends at 1 p.m. ET. Today marks the start of the seasonally strong Santa Claus rally period, covering the final five trading days of the year and the first two of the next. The S & P 500 is coming off a fresh record close, boosted by the AI tech trade. Trading volumes yesterday were predictably lighter than usual. 2. Initial jobless claims for last week totaled 214,000, below the Dow Jones consensus of 225,000 and also…

The new entity, Shandong Yixun Information Technology, was incorporated last week with a registered capital of 50 million yuan (US$7.1 million), according to the latest information from Chinese corporate data provider Qichacha.The scope of this entity’s operations would include integrated circuit design, AI software development and technical consulting for AI public services online platforms, according to Qichacha.Based in Hefei, the capital of eastern Anhui province, iFlytek on Wednesday said it did not have additional information about the business of Shandong Yixun.The latest move by iFlytek, which made its name in the area of voice-recognition software, underscored the growing importance of…

Pakistan rice exports have recorded a steep downturn amid intensifying international competition and domestic policy headwinds, with industry experts warning that higher costs and a sharp loss of price competitiveness are displacing the country from key export markets. In July-November period of the fiscal year 2025-26, Pakistan rice exports declined by 40.02% in volume, with shipments of IRRI-6 and IRRI-9 (non-basmati rice) falling by 39.70%, while basmati rice exports dropped by 41.79%, Pakistan Bureau of Statistics (PBS) data showed. “In the international market, Indian rice is priced lower, while Pakistani rice remains relatively expensive, leading to reduced demand for Pakistan’s…

The US dollar fell on Wednesday and was on track to record its largest annual loss since 2017, with scope for further declines, as investors bet that the Federal Reserve will have room to cut interest rates more aggressively next year, while most other major central banks are seen as having largely завершed their easing cycles.   Strong US gross domestic product data released on Tuesday failed to alter interest-rate expectations, with investors continuing to price in around two additional rate cuts by the Federal Reserve in 2026.   David Mericle, chief US economist at Goldman Sachs, said: “We expect…

China said on Wednesday it would hit back against the latest US tariffs targeting its semiconductor sector.On Tuesday, the Office of the United States Trade Representative said it would raise the tariffs on June 23, 2027, with the level to be announced at least 30 days in advance.It followed the release of the findings of a year-long probe into China’s chip sector, launched in the final month of the Joe Biden administration.The office said Beijing’s push to dominate the sector was “unreasonable and discriminatory” and posed an economic threat to the US.“China firmly opposes the US abuse of tariffs and…

DP Technology – the developer of a suite of AI tools used by researchers for work spanning drug design to battery development – has raised more than 800 million yuan (US$114 million) in Series C financing to expand research and development (R&D) and hire talent.The Beijing-based AI-for-Science (AI4S) start-up said on Wednesday that the round drew backing from a mix of state-linked and venture investors, including Fortune Venture Capital, Beijing Jingguorui Equity Investment Fund, Beijing Artificial Intelligence Industry Investment Fund, Beijing Pharmaceutical and Health Industry Investment Fund, Lenovo Capital and Incubator Group and Oriza Hua.The funding would be used primarily…