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German govt spending plans at risk as court rules
German govt spending plans at risk as court rules
Economy
by  AFP

Germany's top court will decide Wednesday whether the government broke debt rules enshrined in the constitution, potentially throwing its spending plans into disarray and further fuelling tensions in the ruling coalition.

Asia extends global rally as US inflation slows more than thought
Asia extends global rally as US inflation slows more than thought
Economy
by  AFP

Equities surged Wednesday and the dollar struggled after slower-than-forecast US inflation was seen as all but putting to bed any chance of another interest rate hike, and even allowed traders to bet on a series of cuts in the new year. Data suggests they are now betting on as much as a one percentage point cut in rates through next year.

A shirt for rice: bartering to survive in inflation-battered Argentina
A shirt for rice: bartering to survive in inflation-battered Argentina
Economy
by  AFP

An old T-shirt for a handful of rice or some eggs: ever more Argentines are relying on barter to survive in a fast-worsening economy dominating the debate ahead of presidential elections Sunday. In and around the teeming Argentine capital, it is an increasingly common sight for people to knock on doors asking for second-hand clothes to wear, barter or sell.

Japanese economy shrinks 0.5 percent in third quarter
Japanese economy shrinks 0.5 percent in third quarter
Economy
by  AFP

Japan's economy contracted by a worse-than-expected 0.5 percent in the third quarter, government data showed Wednesday, in a further blow to struggling Prime Minister Fumio Kishida. The shrinking of the world's number three economy, following two consecutive quarters of growth, was worse than the market consensus of a 0.1 percent contraction.

Xi, Biden arrive for key San Francisco summit
Xi, Biden arrive for key San Francisco summit
Economy
by  AFP

US President Joe Biden and his Chinese counterpart Xi Jinping arrived in San Francisco on Tuesday on the eve of an eagerly awaited meeting between the leaders of the world's two largest economies. The two presidents are expected to meet for several hours Wednesday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco.

McDonald's UK boss says fast-food chain faces weekly sex abuse claims
McDonald's UK boss says fast-food chain faces weekly sex abuse claims
Economy
by  AFP

McDonald's boss in Britain said Tuesday the US fast-food giant faces "one to two" sexual harassment allegations from workers every week, as he vowed to tackle the issue recently exposed by the BBC. Alistair Macrow, chief executive of McDonald's UK and Ireland, told a watchdog parliamentary committee that the chain's management also receives around five reports a week of bullying.