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☆ The resume-like doc to keep on your desktop for when a dream job opportunity pops up: 'You want to be ready'
▼ + stars: | 2022-12-28 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

As you're building your career history, experts recommend keeping an ongoing record of everything you've done on the job. This document has been called a continuous resume or a CV, and it highlights every significant piece of your career ― from day-to-day accomplishments to major awards. When applying to new positions, this document serves as a point of reference from which you can copy and paste the most relevant and up-to-date experience for a resume for the prospective job. Here's how experts recommend keeping it. Keeping it up-to-date means when it's time to write the resume for that prospective job, you don't have to wrack your brain to remember accomplishments from previous positions.

☆ Canada 'keen' on resolution for First Quantum in Panama
▼ + stars: | 2022-12-23 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

After efforts to reach a deal failed, Panama on Dec. 15 said First Quantum must shut down its Cobre Panama mine. The Cobre Panama mine is considered the largest private investment in the Central American country, accounting for roughly 3.5% of its gross domestic product. First Quantum reported revenue from Cobre Panama of $2.29 billion in the first nine months of this year. The dispute centers around Panama seeking an increase in annual payments to at least $375 million. Though mainly focused on copper, First Quantum also mines nickel, zinc and cobalt in projects across South America, Africa, Europe and Australia.

☆ Analysis: Bank of Japan gives an inch, investors ready to claim a mile
▼ + stars: | 2022-12-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

But rather than providing breathing room, investors say it is likely to encourage more of the sort of pressure that has bent the bond market out of shape. "Fifty basis points becomes the new 25 basis points. When trading resumed in Japan, 10-year JGB yields shot towards their new ceiling and futures fell so fast it triggered a circuit breaker suspending trade. By the end of the session, 10-year bond yields sat 14.5 basis points higher at 0.395%, the sharpest one-day rise for Japanese 10-year yields in more than 14 years. Mandatory credit Kyodo/via REUTERSThose swaps - another market measure of interest rate expectations - tracked bond yields until early this year.

☆ U.S. expands dispute settlement consultations over Canadian dairy tariff policies
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Dec 20 (Reuters) - The Biden administration said on Tuesday it was requesting new dispute settlement consultations under the U.S.-Mexico-Canada Agreement (USMCA) trade deal related to Canadian dairy import tariff policies. The United States initiated dispute consultations over some Canadian dairy tariff-rate quotas in May, alleging Canada's allocations deny U.S. retailers access to its markets and undermine the agreement. Last year, the United States requested the creation of a panel under USMCA rules to resolve a dispute over Canadian dairy quotas after failing to settle the issue with Ottawa. The panel in a 50-page report in January said Canada violated the trilateral trade accord by reserving most of its preferential dairy tariff-rate quotas for Canadian processors. Canada has said that it amended its allocation policies for dairy quotas after the panel report.

☆ Bank of Japan makes surprise policy tweak
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +8 min

ATUSHI TAKEDA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH, TOKYO:"Today's move reflects the BOJ's determination not to alter its yield cure control policy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023. "The tweak may seem modest but is significant for a central bank that has held dovish for a long time.

☆ Philippines extends tariff cuts on imported rice, other food items to fight inflation
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

MANILA, Dec 18 (Reuters) - Philippine President Ferdinand Marcos Jr has approved the recommendation of the economic ministry to extend up to the end of next year lower tariff rates on rice and other food items to help combat inflation, his office said on Sunday. The modified rates approved in 2021 were due to expire at the end of this year, but an inflation rate running at 14-year highs warranted an extension of the tariff reprieve until Dec. 31, 2023. That means the tariff rate for imported rice will stay at 35%, while the import levies on corn and pork products will remain at 5%-15% and 15%-25% respectively, the press secretary's office said in a statement. At 8.0% in November, consumer price inflation is well beyond the Philippine central bank's target range of 2%-4% for this year and the medium term. "We are determined to steer the Philippine economy to meet the 6.0%-7.0% economic growth target for 2023," Balisacan said.

☆ Chinese Property Bonds Are Suddenly a Huge Winner
▼ + stars: | 2022-12-16 | by ( Serena Ng | ) www.wsj.com time to read: 1 min

After being mired in distress and defaults for more than a year, Asia’s U.S. dollar junk-bond market has staged one of its biggest-ever rallies following an about-face by authorities in China on Covid-19 and housing policies. The jury is still out on when—and whether—the market can recover to a point where most junk-rated companies can raise money again.

☆ Philippine central bank will 'follow the Fed's drumbeat,' says economist
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhilippine central bank will 'follow the Fed's drumbeat,' says economistMohamed Faiz Nagutha of BofA Global Research says the Bangko Sentral ng Pilipinas is likely to continue hiking rates in early 2023, following the U.S. Federal Reserve.

☆ UK's National Grid cancels standby notice for two coal units
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

Dec 12 (Reuters) - Britain's National Grid (NG.L) cancelled standby notices for Drax Group's (DRX.L) two coal units on Monday, according to Elexon's website. Earlier in the day, the grid operator issued start-up notices for two 570 MW coal units at Drax's power station in Yorkshire as a cold snap gripped the country. Elexon is a wholly-owned but operationally independent subsidiary of National Grid Energy System Operator (NGESO). Reporting by Brijesh Patel in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Heavy snow in Britain disrupts travel; National Grid readies two coal plants
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

[1/5] A person walks through the snow as cold weather continues, in London, Britain, December 12, 2022. Operations in many parts of the city's underground network were either suspended or faced delays, while motorways witnessed gridlocks due to snow. The snow caused issues for commuters and holidaymakers at the start of a fortnight where rail workers and border officials plan industrial action. Southeastern, which operates rail services into London, advised passengers not to travel due to severe disruption caused by snow and ice. Meanwhile, Britain's National Grid (NG.L) on Monday issued a notification to warm two winter contingency coal plants.

☆ The Zantac Scare and Junk Science
▼ + stars: | 2022-12-09 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The press typically treats lawsuits against business as inherently righteous and amplifies the junk science behind them. So in case you missed it, a federal judge on Tuesday dismissed claims that the once top-selling heartburn medication Zantac causes cancer in a debunking for the ages. A few years ago, the small lab Valisure generated headlines after purportedly finding astronomical levels of the cancer-causing chemical NDMA in Zantac (ranitidine). The Food and Drug Administration’s daily limit for NDMA is 96 nanograms, and Valisure claimed to have found levels exceeding 3,000,000 ng. Talk about causing heartburn.

☆ Philippine economic managers back bill creating sovereign fund
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

MANILA, Dec 9 (Reuters) - Philippine economic officials have thrown their support behind the creation of a sovereign wealth fund backed by President Ferdinand Marcos Jr amid opposition from some groups due to concerns over the risk of corruption and transparency. The economic managers "strongly support" the proposed sovereign wealth fund to generate additional income for the government, Finance Secretary Benjamin Diokno told a media briefing, as he called for the speedy passage of the bill creating the fund. "Direct benefits of the (fund) include increased investments in and funding of big ticket infrastructure projects, high return on green and blue projects, and countryside development including agriculture," Diokno said, reading a joint statement. Authors of the bill have agreed to remove that contentious provision, and instead proposed utilising the profits of the Philippine central bank to bankroll the fund. The plans come as neighbours like Malaysia and Singapore and more recently Indonesia have established sovereign wealth funds, with mixed results.

☆ TSMC bucks broader chip slump with 50% revenue surge, helped by Apple iPhone orders
▼ + stars: | 2022-12-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

TSMC makes chips for a wide array of companies, including the latest semiconductors for Apple and Qualcomm as well as SoftBank -owned Arm. TSMC , the world's largest contract chipmaker, on Friday reported a surge in revenue in November thanks in part to orders of semiconductors for high-end smartphones such as Apple's iPhone. In October and November, TSMC's revenue totaled around $14.1 billion. Apple CEO Tim Cook also attended the event and said the iPhone maker would buy TSMC's U.S.-made chips. While TSMC's November revenue is getting a boost from Apple, analysts are worried about weaker orders next year.

SHANGHAI/HONG KONG, Dec 9 (Reuters) - Investors caught off-guard by China's dramatic COVID policy pivot are betting on both greed and fear as the economy starts to gradually reopen, snapping up shares in businesses from travel agencies and casinos to funeral companies. Providers of death care services, including Hong Kong-listed Fu Shou Yuan International Group (1448.HK), China's biggest cemetery operator and funeral service provider, have also drawn investors. The positioning for both the bright and dark side of China's COVID pivot reflects growing concerns from investors surprised by the rapid policy change, especially as COVID vaccination rates among the elderly remain relatively low. "But we still think that the way China can flatten the curve of new COVID cases without doubling down on tightening looks quite challenging." Morgan Stanley Chief China economist Robin Xing said China's economy may remain sluggish for another quarter or two, but growth will pick up after Spring.

☆ Theranos Ex-President Sunny Balwani Sentenced to Almost 13 Years
▼ + stars: | 2022-12-08 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

China Announces Nationwide Loosening of Covid-19 Rules Some movie theaters in China reopened and Covid-testing booths were dismantled ahead of an announcement by authorities on Wednesday to scrap most testing and quarantine requirements. The changes come after nationwide protests against Beijing’s zero-Covid policy. Photo: Ng Han Guan/Associated Press

Don't be surprised if economic data coming out over the next week kicks off a rally into the end of the year and potentially 2023, according to Andrew Slimmon, Morgan Stanley Investment Management's senior portfolio manager. The key period of data releases begins Friday with the producer price index, followed by November's consumer price index and another likely rate hike from the Federal Reserve next week. "The last time those were released they all led to rallies in the stock market because we had better inflation prints," he said. Like many investors, Slimmon expects a downturn ahead, given the inverted yield curve, but does not anticipate the "big earnings collapse," or downturn, many people are predicting in the first quarter. This is in part due to the fact that many consumers have beefed up savings in recent years given the proximity of the most recent recession.

☆ Asia markets fall amid recession fears; China to report trade data
▼ + stars: | 2022-12-07 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Aerial view of containers sitting stacked at the Qinzhou Port on August 15, 2022 in Qinzhou, Guangxi Zhuang Autonomous Region of China. Shares in the Asia-Pacific slipped on Wednesday after major U.S. indexes fell more than 1% each overnight as recession concerns weigh on markets. China's November trade data is predicted to show a sharp drop in exports and imports, according a Reuters poll. The Nikkei 225 in Japan was down 0.59% in early trade and the Topix also fell 0.44%. South Korea's Kospi shed 0.29%, and the Kosdaq was 0.58% lower.

☆ Reaction to China relaxing COVID restrictions in major policy shift
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +6 min

REDMOND WONG, GREATER CHINA MARKET STRATEGIST, SAXO MARKETS, HONG KONG"The 10 new measures are underwhelming, given the high expectations. GARY NG, ECONOMIST, NATIXIS, HONG KONG"The latest announcements show China is determined to speed up its reopening due to economic pressure. It is likely to see upswings cyclically in business sentiment from suppressed demand, especially in sectors heavily affected by the covid restrictions. "The next checkpoint will be Chinese New Year; I think markets are looking for further relaxation to facilitate return to their hometowns by Chinese New Year." SAKTIANDI SUPAAT, REGIONAL HEAD OF FX RESEARCH & STRATEGY, MAYBANK, SINGAPORE"I think markets have, in some ways, priced in that element (of further easing).

Costlier vegetables drove food inflation up to 10.0% in November from a year earlier, the fastest pace since September 2018, due to supply constraints caused by a typhoon. Excluding the volatile food and energy components, the core CPI rose 6.5%, faster than October's 5.9%. Year-to-date inflation stood at 5.6%, well outside the central bank's 2%-4% target for the year. ING economist Nicholas Mapa said the central bank would likely opt for a 50-basis point rate hike this month, which would take the policy rate (PHCBIR=ECI) to 5.50%. "Demand side pressures persist with revenge spending related items like restaurant and personal services seeing higher inflation," Mapa said in a message on Twitter.

☆ Asia-Pacific markets fall after Wall Street slips; Australia's rate decision ahead
▼ + stars: | 2022-12-06 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Australia's central bank is expected to raise its cash rate by 25 basis points to 3.1% on Tuesday, according to economists polled by Reuters. That would be the Reserve Bank of Australia's eighth hike this year, and the third consecutive hike of 25 basis points since October. In a statement following its November meeting, the RBA said "the full effect" of the series of cash rate hikes lie ahead. Meanwhile, Matt Simpson, senior market analyst at City Index, said there's potential for a pause in rate hikes further ahead. "Some measures of inflation expectations are moving lower, and the monthly inflation print suggests inflation has peaked."

☆ Asia markets set for mixed session ahead of private survey results on China's services activity
▼ + stars: | 2022-12-05 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Citizens dine at a restaurant on December 1, 2022 in Guangzhou, Guangdong Province of China. Shares in the Asia-Pacific were poised to trade mixed on Monday ahead of the results of the Caixin Purchasing Managers' Index, a private survey on China's services activity. The Nikkei futures contract in Chicago was at 27,635 while its counterpart in Osaka was at 27,700. That compared against the Nikkei 225's last close at 27,777.90. In Australia, the S&P/ASX 200 rose 0.31%.

☆ China tech stocks have 'a lot of upside' and peak regulation is over, fund management firm says
▼ + stars: | 2022-12-01 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

The Chinese government is unlikely to introduce new regulations for the internet tech sector and there could be more support going forward, according to Jonathan Krane of KraneShares. "I do not foresee much regulation going forward." He added that the Chinese tech industry makes up a big portion of the economy. "It's a very important sector, it's the consumer of China — so I think you're gonna see a lot of support around the sector going forward as China reopens." Chinese tech stocks have had some difficult years following the regulatory crackdown and amid the ongoing Covid restrictions, though the sector has recovered slightly on reopening hopes.

☆ Asia-Pacific markets slip ahead of China factory activity data
▼ + stars: | 2022-11-30 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Workers work on a speaker production line at Luyang Electronics Co LTD in Fuyang City, Anhui Province, China, Oct 31, 2022. Asia-Pacific shares fell on Wednesday ahead of the release of data on China's November factory activity, in which analysts are expecting to see a contraction for the second time in a row. The Nikkei 225 in Japan fell 0.52% and Topix slipped 0.42%. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% lower. Japan's Fast Retailing and electric-vehicle maker Xpeng are set to report earnings, and Fed Chair Jerome Powell will be delivering a speech at the Brookings Institution on Wednesday.

☆ Kanye West owes millions all over town for unpaid contract work and music samples, lawsuits allege
▼ + stars: | 2022-11-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

He tried that earlier with his music and has been hit with copyright lawsuits related to sampling. And what followed was a thicket of lawsuits from people who alleged West failed to properly credit their songs when using samples for the album. Worse still, according to the lawsuit, West and his pals used "Life of the Party" to market the Stem Player. The company squandered months on the work, even relocating its headquarters to better closely work with West. In the end, the lawsuit alleged, West used a rip-off of MyChannel's e-commerce technology to sell his clothing at a concert.

☆ China property sector surges on fundraising support, but COVID protests cloud outlook
▼ + stars: | 2022-11-29 | by ( Xie Yu | Jason Xue | ) www.reuters.com time to read: +5 min

The move is the latest regulatory easing as Beijing steps up support for the property business, a sector that accounts for a quarter of the Chinese economy. Yuan-denominated bonds issued by Chinese developers CIFI Group, Guangzhou Times Holdings, Country Garden rocketed between 20% and 50% each on Tuesday. “Most of the funding channels the property developers need are covered now,” said Gary Ng, senior economist at Natixis. “It is now up to whether the market, or basically the state players will actually support the sector,” he said. If funds could be raised from state-backed investors, there will be meaningful consolidation in the property sector, Ng said.

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