GENE

Oil prices climb after OPEC+ keeps output cut targets, China eases COVID curbs

Brent gained 0.8% at 0430 GMT, WTI up 0.9% OPEC+ sticks to plans to cut production by 2 mln bpd More Chinese cities relax COVID-19 restrictions MELBOURNE, Dec 5 (Reuters) – Oil prices rose as much as 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and …

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Asia shares bank on eventual China opening; oil gains

https://tmsnrt.rs/2zpUAr4 China shares push higher, dollar slips More Chinese cities ease coronavirus controls Cap on Russia oil comes into effect, impact uncertain SYDNEY, Dec 5 (Reuters) – Asian shares extended their rally on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, …

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Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source

TAIPEI, Dec 5 (Reuters) – Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest disrupted the world’s biggest iPhone factory. The Zhengzhou plant has been grappling with strict COVID-19 restrictions that have fueled discontent …

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EU to adapt state aid schemes in response to US subsidy package, von der Leyen says

BRUSSELS, Dec 4 (Reuters) – The EU will adapt its state aid rules to prevent an exodus of investment triggered by a new US green energy subsidy package, the bloc’s chief executive said on Sunday. “Competition is good … but this competition must respect a level playing field,” European Commission President Ursula von der Leyen …

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OPEC+ maintains stable policy amid weakening economy and Russia’s oil ceiling

No discussion about the ceiling price in Russia – delegates Oil prices come under pressure from weak economy Next meetings will be held on 1 February 1 and 3-4 June LONDON/DUBAI, Dec 4 (Reuters) – OPEC+ agreed to stick to oil production targets at its meeting on Sunday, as oil markets struggled to assess the …

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Amgen says experimental obesity drug has promising durability

LOS ANGELES, Dec 3 (Reuters) – Amgen Inc.’s (AMGN.O) experimental obesity drug showed promising endurance trends in an early trial, with company officials paving the way for a larger mid-stage trial early next year ahead of data presentation. Saturday. The small Phase I trial found that patients maintained weight loss for 70 days after receiving …

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Russia says it won’t accept oil price cap and is preparing response

Dec 3 (Reuters) – Russia “will not accept” a price cap on its oil and is analyzing how to respond, the Kremlin said in comments reported on Saturday, in response to a deal by Western powers aimed at limiting a key source of funding for its war in Ukraine. Kremlin spokesman Dmitry Peskov said Moscow …

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Mexico, US plan pitch by 2023 to lure firms from abroad

MEXICO CITY, Dec 2 (Reuters) – Mexican Economy Minister Raquel Buenrostro and US Secretary of Commerce Gina Raimondo on Friday agreed to set out a plan by early 2023 for the relocation of companies from Asia to North America, Mexico’s government said. On her first visit to Washington since taking office in October, Buenrostro has …

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Exclusive: Twitter exec says moving fast on moderation, as harmful content surges

Dec 2 (Reuters) – Elon Musk’s Twitter is leaning heavily on automation to moderate content, doing away with certain manual reviews and favoring restrictions on distribution rather than removing certain speech outright, its new head of trust and safety told Reuters. Twitter is also more aggressively restricting abuse-prone hashtags and search results in areas including …

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US job growth strong in November; wages rise

Nonfarm payrolls increase 263,000 in November Unemployment rate steady at 3.7%; participation rate falls Average hourly earnings rise 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – US employers hired more workers than expected in November and increased wages despite mounting worries of a recession, but that will probably not stop the Federal Reserve from …

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