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SINGAPORE — Stocks in Asia-Pacific were little changed in Thursday morning trade as investors await the release of a private survey on China's services sector activity in November. In Japan, the Nikkei 225 was fractionally lower in early trade while the Topix index edged 0.13% higher. Australia's trade data for October is set to be out around 8:30 a.m. HK/SIN. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.18% higher. South Korea's markets are set to open an hour later than usual, with trading set to begin at 9 a.m. HK/SIN because of the College Scholastic Ability Test.
Organizations: Nikkei, Japan, College Locations: SINGAPORE, Stocks, Asia, Pacific, Japan, Australia
NEW YORK (Reuters) - Investors in Asia were expecting small gains on Thursday, after Wall Street booked a choppy day due in part to a disappointing private jobs report indicating slowing economic activity. The bleak jobs report added to signs that the economy was decelerating as a tumultuous year nears a close. Investors’ hopes, however, were bolstered by advancements by COVID-19 vaccine candidates and the U.S. Congress passing a potential coronavirus stimulus package. Treasury yields on the long end of the curve rose, adding to the increases on Tuesday in response to movement on the coronavirus stimulus package. Oil prices rose also after Britain approved a COVID-19 vaccine and investors hoped producing countries would keep limits on their output.
Persons: Issei Kato “, , Michael Frazis, Australia’s, Organizations: YORK, Wall, REUTERS, Frazis Capital Partners, Nikkei, U.S, Congress, Dow Jones, Nasdaq, Britain Locations: Asia, Tokyo, Japan, Sydney
China spacecraft collects moon samples to take back to Earth
  + stars: | 2020-12-02 | by ( Associated Press | ) www.nbcnews.com + 0.00   time to read: +4 min
“Chang’e has collected moon samples,” the agency said in a statement. Beijing also has a spacecraft en route to Mars and aims eventually to land a human on the moon. If it succeeds, it will be the first time scientists have obtained fresh samples of lunar rocks since the Soviet Union’s Luna 24 probe in 1976. China’s space program has proceeded more cautiously than the U.S.-Soviet space race of the 1960s, which was marked by fatalities and launch failures. The Tianwen 1 probe launched in July is on its way to the red planet carrying a lander and a rover to search for water.
Persons: Beijing’s, “ Chang’e, China’s, , Hua Chunying, ” Hua, Thomas Zurbuchen Organizations: China National Space Administration, NASA, Twitter, European Space Agency, U.S . Locations: Storms, China, Hainan, Beijing, Mars, “ China, Soviet, ” U.S, U.S, Soviet Union, United States, Japan, India
Nissan sets up new business unit for African region
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com + 0.99   time to read: +1 min
FILE PHOTO: The brand logo of Nissan Motor Corp. in Yokohama, south of Tokyo, Japan July 14, 2020. REUTERS/Issei Kato/File PhotoJOHANNESBURG (Reuters) - Japanese automotive group Nissan is to set up a new regional business unit for Africa as it seeks to boost manufacturing capacity and penetrate one of the world’s biggest undeveloped new car markets. But its 1 billion inhabitants account for only 1% of the world’s new passenger car sales, based on industry data. Most carmakers have focused manufacturing and sales in South Africa - the continent’s most developed economy - which accounts for 85% of Africa’s new car purchases. Nissan, along with competitors Volkswagen, BMW, and Toyota, have been lobbying African governments to grant conditions that favour local assembly and manufacturing while curbing imports of cheap used cars.
Persons: Issei Kato, Mike Whitfield Organizations: Nissan Motor Corp, REUTERS, Nissan, Volkswagen, BMW, Toyota, African Continental Free Trade Area Locations: Yokohama, Tokyo, Japan, JOHANNESBURG, Africa, South Africa, Egypt
Japan's NTT weighs up to $19 billion bond offering for Docomo acquisition
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: +1 min
FILE PHOTO: The logo of NTT (Nippon Telegraph and Telephone Corporation) is displayed at the company office in Tokyo, Japan September 29, 2020. REUTERS/Issei KatoTOKYO (Reuters) - Japan’s Nippon Telegraph and Telephone Corp (NTT) is considering bond offerings of up to $19 billion in Japan and overseas to refinance loans for the $40 billion acquisition of its wireless carrier business, the chief executive said. The telecoms firm has recently completed Japan’s largest-ever tender offer for the 34% of NTT Docomo Inc stock that it did not own. “It is ideal to borrow up to 2 trillion yen ($19.2 billion),” NTT Chief Executive Jun Sawada told Reuters in an interview. Sawada added that bond issuance of 700 billion yen has already been decided, and that the future offerings would include foreign currency debt.
Persons: Issei Kato TOKYO, Jun Sawada, Sawada Organizations: NTT, Nippon Telegraph, Telephone Corporation, REUTERS, Japan’s Nippon, Telephone Corp, NTT Docomo Inc, Japan’s, Reuters Locations: Tokyo, Japan
Factbox: Who is Agnes Chow, the Hong Kong activist jailed over a 2019 protest?
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -0.75   time to read: +2 min
Slideshow ( 2 images )HONG KONG (Reuters) - Agnes Chow, 23, a prominent Hong Kong democracy activist, was jailed on Wednesday for 10 months on charges related to unlawful assembly near the city’s police headquarters during last year’s anti-government protests. Chow, along with prominent activists Joshua Wong and Nathan Law, founded the now-disbanded democracy group Demosisto in 2016. The party was dissolved hours after Beijing passed a contentious national security law for the city on June 30 amid fears it could be targeted under the legislation. Chow said at the time: “Hong Kong Demosisto has never had a pro-independence stance but we believe Hong Kong people have the right to self-determination on the future of Hong Kong.” Chow also featured prominently in the anti-government protests last year, alongside Wong and Law, who is now in exile in Britain. Under the national security law, Beijing punishes what it broadly defines as sedition, secession, terrorism and collusion with foreign forces with up to life in jail.
Persons: HONG, Agnes Chow, AGNES CHOW ? Chow, Joshua Wong, Nathan Law, Chow, , , Hong Kong Demosisto, ” Chow, Wong Organizations: Reuters, WHO, Law, YouTube Locations: HONG KONG, Hong Kong, Beijing, British, Britain, Japan
Japan Nike ad on bullying, racism sparks hot online response
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -0.70   time to read: +2 min
TOKYO (Reuters) - A video ad from Nike Japan against bullying and racism that features biracial athletes and other minorities, such as those of Korean descent, has prompted a sharp online response including calls to boycott the company. FILE PHOTO: Tennis - Australian Open - Second Round - Melbourne Park, Melbourne, Australia - January 22, 2020 Japan's Naomi Osaka during the match against China's Saisai Zheng. REUTERS/Hannah MckayJapan has traditionally prided itself on being racially homogeneous, although successful mixed-race athletes such as tennis star Naomi Osaka are challenging that image. The video, viewed 14.1 million times on Nike Japan’s Twitter feed by noon (0300 GMT) Wednesday, had racked up 63,000 likes but also a cascade of critical comments from many who vowed never to buy Nike products again. Nike Japan was not immediately able to comment on the response, but said on its website it believes in the transformative nature of sports.
Persons: Naomi Osaka, China's Saisai Zheng, Hannah Mckay Japan, , Organizations: Nike Japan, Melbourne, Nike, Twitter Locations: TOKYO, Melbourne, Australia, Japan, Osaka, Nike Japan
SoftBank winding down options trading after investor backlash: Bloomberg News
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato(Reuters) - Japan’s SoftBank Group Corp is winding down its derivatives strategy following investor backlash, Bloomberg News reported on Wednesday, citing people familiar with the matter. (bloom.bg/2JBIuT)About 90% of the contracts will close out by the end of December as they are short-term, Bloomberg reported. The company will hold on to its underlying portfolio of big tech stocks, which included Amazon.com Inc and Facebook Inc, the report said. “... depends on how much you believe SoftBank was the culprit behind all the option volatility and the whale type moves,” Brenner added.
Persons: Issei Kato, ” Andrew Brenner, SoftBank, ” Brenner Organizations: SoftBank, REUTERS, Corp, Bloomberg, Inc, Facebook Inc, NatAlliance Securities Locations: Tokyo, Japan, ” Andrew Brenner , New York
WELLINGTON (Reuters) - New Zealand promised its public sector would become carbon neutral by 2025 as it declared a climate emergency on Wednesday, a symbolic move that critics said needed to be backed with greater actions to reduce emissions. New Zealand joins 32 other countries including Japan, Canada, France and Britain that have declared a climate emergency. In her first term she passed a Zero Carbon Bill, which sets the framework for net zero emissions by 2050 with an exemption for farming, and banned new offshore oil and gas exploration. The government on Wednesday promised the public sector will achieve carbon neutrality by 2025. “For Jacinda Ardern’s climate emergency declaration to be more than just words, that means tackling New Zealand’s largest source of climate pollution: agriculture,” said Greenpeace agriculture and climate campaigner Kate Simcock.
Persons: Jacinda Ardern, ” Ardern, , Kate Simcock Organizations: WELLINGTON, Reuters, New Zealand, National Party, Labour Party, Wednesday, Greenpeace, Zealand Locations: New, , New Zealand, Japan, Canada, France, Britain
Japan ruling party weighs up inheritance tax exemption for foreigners
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: 1 min
TOKYO (Reuters) - Japan’s ruling coalition is discussing inheritance tax exemption on overseas assets for foreigners, as it prepares to compile by about Dec. 10 an annual tax code reform measure for the next fiscal year. Akira Amari, head of the tax commission of the Liberal Democratic Party (LDP), told a Nikkei seminar that he wanted to ensure unlisted companies would also be allowed to categorise performance-based compensation to foreigners as expenses. A former economy minister, Amari added that companies risked being excluded from a supply chain if they did not move to rein in emissions and boost cybersecurity.
Persons: Akira Amari, Amari Organizations: Liberal Democratic Party, Nikkei Locations: TOKYO
NEW YORK (Reuters) - The dollar sank to a fresh 2-1/2-year low in choppy trading on Wednesday, weighed down by expectations of further fiscal stimulus for the United States. In afternoon trading, the dollar index was 0.1% lower at 91.115 , after earlier hitting 91.094, the lowest since late April 2018. Wednesday’s data showing slower U.S. private hiring last month supported some safe-haven buying of the dollar earlier in the session. The euro, meanwhile, was up 0.2% at $1.2098, after earlier hitting $1.2108, the highest since late April 2018. The risk-sensitive Aussie dollar rose 0.4% versus the greenback to US$0.7402 as data showed Australia’s economy rebounded more than expected in the third quarter.
Persons: Dado Ruvic, Steven Mnuchin, Donald Trump, Mitch McConnell, McConnell, , Amo Sahota, payrolls, Pfizer Inc’s, Bitcoin, Sterling Organizations: YORK, Republicans, Democrats, Congress, Republican, Democratic, U.S . Congress, FX, ADP, Pfizer, Pfizer Inc’s COVID, European Central Bank, ECB, Bank of Japan, European Union, greenback Locations: United States, U.S, San Francisco, Britain
SINGAPORE (Reuters) - Singapore has given U.S. start-up Eat Just the greenlight to sell its lab-grown chicken meat, in what the firm says is the world’s first regulatory approval for so-called clean meat that does not come from slaughtered animals. Demand for alternatives to regular meat is surging due to concerns about health, animal welfare and the environment. Plant-based substitutes, popularised by the likes of Beyond Meat, Impossible Foods and Quorn, increasingly feature on supermarket shelves and restaurant menus. The Singapore Food Agency said it had reviewed data relating to process, manufacturing control and safety testing before granting approval. Founded in 2011, Eat Just counts Hong Kong tycoon Li Ka-shing and Singapore state investor Temasek among its backers.
Persons: Josh Tetrick, , , Li Ka, Tetrick, Japan’s, Bill Gates, Richard Branson, Henry Soesanto Organizations: Foods, Singapore Food Agency, Temasek, Barclays, U.S, Japan’s SoftBank, Nissin Corp Locations: SINGAPORE, Singapore, Singapore “, Quorn, San Francisco, U.S, United States, Western Europe, Hong Kong, shing, Memphis, Philippines
SYDNEY (Reuters) - The United States has called China’s use of a digitally manipulated image of an Australian soldier a “new low”, weighing in on the dispute between Canberra and Beijing over the tweet. State Department deputy spokesman Cale Brown said the fabricated image of the soldier was “a new low, even for the Chinese Communist Party”. China on Friday imposed dumping tariffs of up to 200% on Australian wine imports, effectively shutting off the largest export market for the Australian wine industry, amid a worsening diplomatic dispute that has seen a serious of trade reprisals imposed by China. A group of parliamentarians from 19 countries that has lobbied against China’s actions in Hong Kong and Xinjiang campaigned on social media for the public to drink Australian wine. Taiwan’s foreign ministry said on Twitter it would serve Australian wine.
Persons: Scott Morrison, Issei Kato China, Scott Morrison’s, Zhao Lijian, Cale Brown, ” Brown, Zhao “, , Zhao, Morrison, WeChat, Zhao’s, Organizations: SYDNEY, United, Australian, REUTERS, U.S . State Department, Chinese Communist Party . State Department, Chinese Communist Party, Twitter Locations: United States, Australian, Canberra, Beijing, Tokyo, Japan, New Zealand, France, Taiwan, Australia, Xinjiang, Afghanistan, China’s, Paris, China, Hong Kong
SYDNEY (Reuters) - The Chinese social media platform WeChat blocked a message by Australia Prime Minister Scott Morrison amid a dispute between Canberra and Beijing over the doctored tweeted image of an Australian soldier. Morrison took to WeChat on Tuesday to criticise the “false image”, while offering praise to Australia’s Chinese community. China’s embassy has said the “rage and roar” from Australian politicians and media over the soldier image was an overreaction. China’s embassy in Paris hit back on Wednesday, saying the soldier image was a caricature by a painter, adding that France has previously loudly defended the right to caricature. China on Friday imposed dumping tariffs of up to 200% on Australian wine imports, effectively shutting off the largest export market for the Australian wine industry.
Persons: Scott Morrison, Issei Kato China, Morrison’s, Zhao Lijian, Morrison, WeChat, Cale Brown, ” Brown, Zhao “, Zhao’s, Organizations: SYDNEY, Australia, Australian, REUTERS, U.S . State Department, Chinese Communist Party . State Department, Chinese Communist Party, Twitter Locations: Canberra, Beijing, Tokyo, Japan, United States, Afghanistan, Australia, WeChat, New Zealand, France, Taiwan, China, Xinjiang, China’s, Paris, Hong Kong, farwestern
China's WeChat blocks Australian PM in doctored image dispute
  + stars: | 2020-12-02 | by ( Kirsty Needham | ) www.reuters.com + 0.00   time to read: +4 min
SYDNEY (Reuters) - China’s WeChat social media platform blocked a message by Australia Prime Minister Scott Morrison amid a dispute between Canberra and Beijing over the doctored tweeted image of an Australian soldier. Morrison took to WeChat on Tuesday to criticise the “false image”, while offering praise to Australia’s Chinese community. China’s embassy has said the “rage and roar” from Australian politicians and media over the soldier image was an overreaction. ‘HYPOCRISY IS OBVIOUS TO ALL’Australia was seeking to “deflect public attention from the horrible atrocities by certain Australian soldiers”, it said. WeChat has 690,000 active daily users in Australia, and in September told an Australian government inquiry it would prevent foreign interference in Australian public debate through its platform.
Persons: Scott Morrison, Issei Kato China, Morrison’s, Zhao Lijian, Morrison, WeChat, Jake Sullivan, Joe Biden, , Zhao “, Prophet Mohammad, Zhao’s, Organizations: SYDNEY, Australia, Australian, REUTERS, U.S . State Department, Chinese Communist Party, U.S, Twitter Locations: Canberra, Beijing, Tokyo, Japan, United States, Afghanistan, Australia, WeChat, New Zealand, France, Taiwan, China, “ America, China’s, Paris
FILE PHOTO: Japan's Economy Minister Yasutoshi Nishimura attends a joint news conference with Tokyo Governor Yuriko Koike and other panel members after their talks on the latest situation of the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan July 10, 2020. REUTERS/Issei KatoTOKYO (Reuters) - Japan’s government will not try to fill all of the economy’s 34 trillion yen ($326 billion) output gap with stimulus measures alone, Economy Minister Yasutoshi Nishimura said on Wednesday. Instead, the government will seek to launch measures and tax incentives to prod companies to boost investment, he told a Nikkei seminar.
Persons: Yasutoshi Nishimura, Yuriko Koike, Issei Kato TOKYO Organizations: Tokyo, REUTERS, Nikkei Locations: Tokyo, Japan
TOKYO/NEW YORK (Reuters) - Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional U.S. economic stimulus and a coronavirus vaccine, but trade was choppy as some investors booked profits. REUTERS/Issei KatoTop U.S. Senate Republican Mitch McConnell said on Tuesday that Congress should include new coronavirus stimulus in a $1.4 trillion spending bill aimed at heading off a government shutdown in the midst of the pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.27%, but was still trading below last week’s all-time high. U.S. stock futures declined 0.23% following a record closing high for Wall Street shares. Pfizer Inc and Germany’s BioNTech SE sought emergency approval of their vaccine candidate from the European regulator on Tuesday.
Persons: Issei Kato Top, Senate Republican Mitch McConnell, Joe Biden, DAX, “ We’ve, , Michael McCarthy, , BioNTech, Softbank, ” Andrew Brenner, SoftBank Organizations: TOKYO, Wall, REUTERS, Issei Kato Top U.S, Senate Republican, New York Times, Top, Softbank Group, Bloomberg News, Amazon.com Inc, Facebook Inc, South, Wall Street, Benchmark U.S, Treasury, CMC Markets, Pfizer Inc, Moderna Inc, Pfizer, Union, NatAlliance Securities, OPEC, Brent Locations: Tokyo, Japan, Top U.S, Asia, Pacific, China, Europe, U.S, ” Andrew Brenner , New York
Asian stocks rise after vaccine optimism drives Wall Street to record highs
  + stars: | 2020-12-02 | by ( Jessica Dinapoli | ) www.reuters.com sentiment -0.94   time to read: +2 min
NEW YORK (Reuters) - Asian markets were set to climb on Wednesday after Wall Street indexes closed at record highs as investors grow increasingly hopeful about a vaccine to combat rising COVID-19 cases and an economic recovery. FILE PHOTO: People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo, Japan February 28, 2020. The futures contract for the Nikkei 225 index rose 0.15% on Wednesday while Hong Kong’s Hang Seng index futures rose 0.31%. Pfizer Inc and Germany’s BioNTech SE sought emergency approval of their vaccine candidate from the European regulator on Tuesday. Competitor Moderna Inc also applied for emergency approval from the European regulator on Tuesday.
Persons: “ We’ve, , Michael McCarthy, , Australia’s, BioNTech, Senate Republican Mitch McConnell, Brent Organizations: YORK, REUTERS, CMC Markets, Nikkei, Pfizer Inc, Moderna Inc, Pfizer, Union, U.S, Senate Republican, Treasury Locations: Tokyo, Japan, U.S
LONDON (Reuters) - World stocks hovered near record highs on Wednesday on hopes for a coronavirus vaccine and additional U.S. economic stimulus, though enthusiasm for riskier assets left the dollar stuck at a 2-1/2 year low. Top U.S. health officials have announced plans to start vaccinating Americans as early as mid-December once regulatory approvals are in place. Shares in BioNTech surged by more than 8% before trimming gains, though European shares slipped overall by 0.3%, shuffling below recent nine-month highs. Top U.S. Senate Republican Mitch McConnell said on Tuesday that Congress should include new coronavirus stimulus in a $1.4 trillion spending bill aimed at heading off a government shutdown in the midst of the pandemic. The pound was under some pressure, however, as a senior EU diplomat said UK’s post-Brexit trade deal with the European Union “still hangs in balance”.
Persons: , Mike Bell, BioNTech, Britain “, Senate Republican Mitch McConnell, Joe Biden, UK’s, Sterling Organizations: REUTERS, Wednesday, Pfizer, BioNTech, Moderna, Morgan Asset Management, Union, Deutsche Bank, U.S, Senate Republican, New York Times, Wall Street, European Union, Softbank Group, Bloomberg News, Amazon.com Inc, Facebook Inc, OPEC, Brent Locations: Tokyo, Japan, Britain, U.S, EU, Asia, China
SINGAPORE — Stocks in Asia-Pacific were mixed in Wednesday morning trade even as Wall Street surges to record highs overnight. In Japan, the Nikkei 225 dipped 0.14% in early trade while the Topix index added 0.24% South Korea's Kospi gained 0.65%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.19% higher. Australia's third-quarter GDP print is expected to be out at around 8:30 a.m. HK/SIN on Wednesday. Ahead of that release, the Australian dollar changed hands at $0.7374, after seeing levels below $0.736 yesterday.
Persons: Korea's Kospi Organizations: Nikkei, Korea's, Japan Locations: SINGAPORE, Stocks, Asia, Pacific, Japan, Australia
Delay in vaccine rollout is the top risk to the economic recovery, ECB member says
  + stars: | 2020-12-02 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.99   time to read: +2 min
LONDON — A potential delay to the distribution of coronavirus vaccines is the biggest risk facing the economic recovery in the euro zone, a member of the European Central Bank told CNBC. Three separate vaccine trials released promising data in November, with the shots from Pfizer-BioNTech and Moderna showing efficacy rates above 90%. However, Yannis Stournaras, governor of the central bank of Greece, said that any delays in rolling out these vaccines could damage the economic recovery. The U.K. became the first country to approve the Pfizer-BioNTech vaccine on Wednesday with immunizations due next week. The bank considered lower-than-expected demand for vaccines from the global population, and issues with the shots from AstraZeneca and Johnson & Johnson.
Persons: Yannis Stournaras, Stournaras, immunizations, Goldman Sachs, Johnson Organizations: European Central Bank, CNBC, Pfizer, BioNTech, ECB, European Medicines Agency, AstraZeneca, Johnson Locations: Greece, Europe, Japan
But even smaller businesses tend to have low debt levels and an average of one to two months of operating expenses on hand, Mr. Ota said. Interest rates in Japan have been low for decades, and a government stimulus package introduced in response to the pandemic has effectively zeroed them out for most small enterprises. Small shinise often own their own facilities and rely on members of the family to help keep payroll costs down, allowing them to stockpile cash. Many started during the 200-year period, beginning in the 17th century, when Japan largely sealed itself off from the outside world, providing a stable business environment. But over the last century, survival has increasingly meant finding a balance between preserving traditions and adapting to quickly changing market conditions.
Persons: Ota, Toshio Goto Organizations: Japan University of Economics Graduate School Locations: Japan
Arm CEO expects regulators to ‘take a good look’ at the Nvidia deal
  + stars: | 2020-12-02 | by ( Sam Shead | ) www.cnbc.com + 0.00   time to read: +4 min
LONDON — Arm Holdings CEO Simon Segars told CNBC that he expects regulators to "take a good look" at the company's deal with U.S. chipmaker Nvidia. When the deal was announced, Nvidia and Arm said they expected the deal to take 18 months to complete. The Cambridge-headquartered firm has a joint venture called "Arm China" with Chinese private equity firm Hopu Investments. Arm China is headquartered in Shanghai, meaning China's Ministry of Commerce and China's State Administration for Market Regulation will have the right to review the proposed Nvidia deal. Asked if he's concerned about pressure from Chinese regulators, Segars said: "Regulators generally are going to take a good look at this transaction because both Arm and Nvidia are so significant in the world of technology."
Persons: Simon Segars, Japan's, Segars, Abishur Prakash, Allen Wu, Wu, Arm's, Hermann Hauser, Hauser, Ed Miliband Organizations: Arm, CNBC, U.S, Nvidia, Hopu Investments, Ministry of Commerce, China's, Administration, Center, Huawei, Sunday Telegraph, BBC, Shadow, National Security, Investment Locations: British, The Cambridge, China, Shanghai, Beijing, Toronto, U.S, Cayman Islands, Cambridge, Europe, Cambridge , Manchester, Belfast, Warwick, Britain
China continuing to outpace the U.S. economy, CFO survey reveals
  + stars: | 2020-12-02 | by ( David Spiegel | ) www.cnbc.com + 0.00   time to read: +3 min
China's economic outlook is improving faster than in other regions around the world, including the U.S. according to the latest CNBC Global CFO Council survey for the fourth quarter 2020. In the Q4 CNBC Global CFO Council Survey, CFOs gave an average outlook of "Modestly Improving" for China's GDP, upgrading the world's second-largest economy from its third quarter rating of "Stable." The council's outlook for the U.S. economy also improved, from "Modestly Declining" in Q3 to "Stable" in the current quarter, but still trails China. The assessment of China having the best economic situation echoes reports that China's economy is rebounding as life looks more like it did pre-pandemic. In October, China said its economy grew 4.9% in the third quarter, after growing 3.2% in the second quarter.
Persons: CFOs Organizations: CNBC Global, Survey, U.S, Pacific CFOs Locations: United States, U.S, China, Canada, Japan, Asia, Africa, Middle, America, Russia, Europe, Pacific, North America, CFOs
Goldman Sachs has predicted when coronavirus vaccines will be rolled out as several candidates approach regulatory approval in advanced economies. More than 70% of people in developed economies can expect to be immunized by fall 2021, economists Daan Struyven and Sid Bhushan said. Goldman Sachs has laid out a timeline for when coronavirus vaccines will be rolled out in advanced economies. More than 70% of people in developed markets may have received a vaccine shot by the second quarter of 2021, according to Goldman's timeline. Goldman Sachs predicted that the US FDA will approve Pfizer-BioNTech and Moderna's vaccines in the coming weeks.
Persons: Goldman Sachs, Daan Struyven, Sid Bhushan, Johnson, Read, Ursula von der Leyen, Dennis Lynch Organizations: US, Pfizer, BioNTech, AstraZeneca, Oxford, European, HSBC, FDA, European Union, Johnson Locations: Canada, EU, Japan, Australia, Moderna, European Union, Europe,
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