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☆ Biden appeals to young voters in U.S. West as midterms near
▼ + stars: | 2022-11-03 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

[1/2] U.S. President Joe Biden delivers remarks on "student debt relief" during a campaign stop at Central New Mexico Community College (CNM) Student Resource Center in Albuquerque, New Mexico, U.S., November 3, 2022. Biden and other Democratic speakers made no mention of high consumer prices that analysts say are overshadowing abortion and other social issues in the election. Biden heads to California on Thursday evening and Illinois on Friday before traveling to Pennsylvania on Saturday for a rally with former President Barack Obama. He plans to contrast his economic plan with a Republican push to roll back loan forgiveness, the White House said. Opposition parties historically fare better in midterm elections, providing a balance for new presidents in the second half of their terms.

☆ Kamala Harris Seeks to Rally Voters on Abortion as Polls Show Interest Waning
▼ + stars: | 2022-11-03 | by ( Tarini Parti | ) www.wsj.com time to read: 1 min

Vice President Kamala Harris will spend the final days of the midterms campaign seeking to rally Democrats around the issue of abortion access, as some polls show the issue losing potency in energizing voters and economic anxiety giving Republicans momentum ahead of Tuesday’s vote. Ms. Harris’s efforts come as Democrats grow concerned that rising inflation and gas prices are overshadowing abortion as a priority for many voters. A Wall Street Journal poll conducted about two weeks before Election Day suggests that abortion rights are less important in voting decisions than voters indicated in the summer, after the Supreme Court’s decision in June in Dobbs v. Jackson Women’s Health Organization, which overturned the constitutional right to an abortion and returned the issue to states to decide.

☆ China's services activity skids in October on COVID restrictions - Caixin PMI
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterBEIJING, Nov 3 (Reuters) - China's services activity contracted again in October as COVID-19 containment measures hit businesses and consumption, overshadowing the economic rebound in the last quarter, a private-sector business survey showed on Thursday. An official survey on Monday also showed services activity, which relies more on face-to-face interactions, fell into contraction territory in October from expansion in the month prior. Surprisingly, the survey showed that efforts to expand staffing capacity and enhance sales capabilities led to a rise in employment across the service sector. read moreCaixin's composite PMI, which includes both manufacturing and services activity, dropped to 48.3 in October from 48.5 the previous month, marking the lowest since May. The Caixin PMI is compiled by S&P Global from responses to questions sent to purchasing managers in China.

☆ China's daily local COVID cases hit 3,200 for Nov 2, highest since Aug. 17
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 3 (Reuters) - China recorded 3,200 daily local COVID-19 cases for Nov. 2, the highest in two and a half months, of which 531 were symptomatic and 2,669 were asymptomatic, the National Health Commission said on Thursday. It was the first time local daily cases have exceeded 3,000 since Aug. 17. The capital Beijing reported 28 symptomatic and three asymptomatic local cases on Wednesday, compared with 28 symptomatic and four asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported one symptomatic and two asymptomatic cases on Wednesday, compared with one symptomatic and no asymptomatic cases a day before, the local health authority reported. Guangzhou, also in the south, reported 50 new locally transmitted symptomatic and 323 asymptomatic cases, compared with 73 symptomatic and 253 asymptomatic cases a day before, authorities in the city of nearly 19 million people said.

☆ He Lifeng: China's expected new economic tsar has big shoes to fill
▼ + stars: | 2022-10-30 | by ( Kevin Yao | ) www.reuters.com time to read: +3 min

BEIJING, Oct 30 (Reuters) - He Lifeng, head of China's state planning agency, is likely to succeed the country's economic tsar Vice Premier Liu He in March, but may struggle to maintain his predecessor's policy clout. That paves the way for He's expected promotion as the 70-year-old Liu is due to step down in March. The departing Liu, Xi's top economic adviser and a childhood friend, holds an unusually powerful portfolio: it covers economic policy, the financial sector and trade ties with Washington, overshadowing the role of outgoing Premier Li Keqiang. Some analysts say part of the expanded role that Liu built up during his time as economic tsar could be taken over by other top officials. "If He Lifeng does indeed get the job, his portfolio will overlap with that of the new Premier, Li Qiang," Julian Evans-Pritchard at Capital Economics said in a note.

☆ Mastercard shares down as dim forecast sours profit beat
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 27 (Reuters) - Mastercard Inc (MA.N) forecast a weaker-than-expected revenue growth for the last three months of the year on Thursday, overshadowing an upbeat quarter where the card issuer beat profit estimates on resilient consumer spending. The company said it expected revenue to rise in "low double digits" at the lower end of its forecasted growth range for the fourth quarter. Shares of the Purchase, New York-based company were down more than 2% in premarket trading. Last quarter, Mastercard warned of a slowdown in spending from lower-income customers in the United States in the face of red-hot inflation. Excluding one-time costs, Mastercard earned $2.68 per share, beating Street estimate of $2.56 per share.

☆ Stocks making the biggest moves midday: Meta Platforms, ServiceNow, Teladoc, Credit Suisse & more
▼ + stars: | 2022-10-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

McDonald's — The fast-food giant's shares got a 2.8% lift after the company beat earnings expectations for its most recent quarter. Align Technology — The Invisalign maker saw its shares tumble 18% after it posted disappointing earnings for the most recent quarter. Credit Suisse — Shares of the Swiss bank plummeted 19.5% after Credit Suisse posted a greater-than-expected loss for the third quarter. ServiceNow — The stock jumped 13% after ServiceNow surpassed earnings expectations in its most recent quarter. Comcast — The media giant's stock rose 4.8% after topping analysts' earnings expectations for the third quarter.

☆ Failure to Control Ukraine’s Skies Betrays Key Flaw in Russia’s War Strategy
▼ + stars: | 2022-10-16 | by ( Daniel Michaels | ) www.wsj.com time to read: 1 min

Russia’s struggling invasion of Ukraine has faced problems from poor coordination to unmotivated soldiers, but overshadowing and aggravating all was a critical blunder in the war’s early days, say Western military officials: failure to win control of Ukraine’s skies. Without air superiority, Russia has been unable to stop Ukrainian attacks on its soldiers with U.S.-supplied M142 High Mobility Artillery Rocket Systems, or Himars, and other weapons. Kyiv’s forces have capitalized on Russia’s limited ability to respond by retaking hundreds of square miles of territory from the invading army since early last month.

☆ Oil could plunge to just $60 a barrel if there's a deep recession next year, RBC says
▼ + stars: | 2022-10-12 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Oil could fall to $60 a barrel next year in the most bearish scenario, according to RBC. Sticky inflation and a Federal Reserve policy mistake could both slash crude prices, the bank said. Falling oil prices could also provide relief for Americans at the pump. RBC laid out two other economic scenarios that could impact oil prices next year. Read more: Crude oil could hit $125 a barrel as Russia's reaction to a US-led price cap threatens to squeeze supply, UBS says

☆ Cotton Prices Drop Amid Economic Worries, Strong Dollar Pressure
▼ + stars: | 2022-09-28 | by ( Kirk Maltais | ) www.wsj.com time to read: 1 min

Cotton prices have dropped back to earth, with concern about slow demand overshadowing a potentially poor harvest while the dollar surges to 20-year highs. Futures have shed 25% since late last month, effectively eliminating gains fueled by a U.S. Department of Agriculture forecast that more than 40% of U.S. acres planted with cotton this year wouldn’t be harvested because of drought. The drop brings prices closer to their typical levels, with the most actively traded futures ending Tuesday at 88 cents a pound, down more than 40% from their peak in May, which was the highest price in more than a decade.

☆ Gaffes, controversy overshadow S.Korea's Yoon trips to U.N., London
▼ + stars: | 2022-09-23 | by ( Hyonhee Shin | ) www.reuters.com time to read: +4 min

REUTERS/Amr AlfikySEOUL, Sept 23 (Reuters) - A series of gaffes and controversies is overshadowing South Korean President Yoon Suk-yeol's first major overseas tour, sending his ratings plunging and inviting scathing criticism from some lawmakers even within his own party. This week, Yoon visited London for the funeral of Queen Elizabeth and then New York in his first U.S. trip to attend the U.N. General Assembly, before arriving in Canada on Thursday. His press secretary, Kim Eun-hye, dismissed the accusation, saying Yoon was referring to the South Korean parliament without mentioning Biden. Yoon and Biden had planned informal talks in New York, but ended up having just a 48-second chat at the Global Fund. Yoon's office said that was a "Plan B" due to changes in Biden's schedule, and said they also met in London when Yoon raised the EV subsidies issue.

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