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Analysis-Vietnam’s sweeping administrative cuts stir investors’ anticipation, worries

By Francesco Guarascio and Phuong Nguyen HANOI (Reuters) – Communist-run Vietnam is planning its boldest bureaucratic reform in decades, slashing ministries, agencies and broadcasters in a bid to reduce bottlenecks and red tape, but risking short-term “paralysis”, officials and investors said. Under the plan, five ministries, four government agencies and five state TV channels would …

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UK pay growth speeds up, adding to worries for Bank of England

By William Schomberg and Suban Abdulla LONDON (Reuters) -British pay rose by more than expected in the three months to October, official data showed on Tuesday, prompting investors to further rein in bets on Bank of England interest rate cuts next year, despite warning signs of a slowdown in the economy. Average weekly earnings, excluding …

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China, Trump talk up prospects for US-China collaboration

BEIJING (Reuters) – China’s top diplomat said on Tuesday he hoped the incoming Trump administration would “make the right choice” and work with Beijing, hours after Donald Trump told reporters the COVID-19 pandemic had strained his relationship with “friend” Xi Jinping. “We hope the new U.S. administration will make the right choice and work with …

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Swiss economy to grow 1.5% next year, government forecasts

ZURICH (Reuters) – The Swiss economy will grow by 1.5% next year, the government forecast on Tuesday, slightly revising down its outlook for one of Europe’s traditionally most resilient economies. This year, the economy is expected to grow 0.9%. Switzerland’s export-oriented economy had previously been forecast to grow by 1.2% this year and 1.6% next …

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Bank of Korea board members see need to respond to slowing economy, minutes show

SEOUL (Reuters) – South Korea’s monetary policy board members said there was a need to respond quickly and preemptively to a slowing economy, as they decided to lower interest rates for a second straight meeting on Nov. 28, according to minutes released on Tuesday. “It is deemed more urgent at this time to respond preemptively …

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UK competition watchdog clears Carlsberg’s $4.23 billion acquisition of Britvic

(Reuters) -Britain’s competition regulator cleared Carlsberg’s deal with soft drinks maker Britvic on Tuesday, saying it would not refer the $4.23 billion transaction for an in-depth probe. Carlsberg struck a deal to acquire the British soft drinks maker in July, aiming to establish a UK beverage “powerhouse”. The deal, which is expected to close on …

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Adani deal under bribery scrutiny was approved against officials’ advice

By Sarita Chaganti Singh, Sudarshan Varadhan NEW DELHI/SINGAPORE (Reuters) -The approach from the Solar Energy Corporation of India (SECI) on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India’s largest renewables contract. …

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Australia’s Qantas to pay $76 million to former employees

(Reuters) -Australia’s Qantas Airways said on Tuesday that it has reached a settlement with the Transport Workers Union (TWU) for compensation of A$120 million ($76.2 million) that it will pay former ground workers who were sacked in 2020. The airline will pay the ex-employees through a compensation fund that will be established in early 2025, …

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Trump loses bid to toss hush money conviction on immunity grounds

By Luc Cohen and Jack Queen NEW YORK (Reuters) -Donald Trump on Monday lost a bid to overturn his criminal conviction stemming from hush money paid to a porn star in light of the U.S. Supreme Court’s July ruling recognizing immunity from prosecution for a president’s official acts. Justice Juan Merchan’s denial of Trump’s motion …

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TikTok turns to US Supreme Court in last-ditch bid to avert ban

By Andrew Chung and David Shepardson WASHINGTON (Reuters) -TikTok made a last-ditch effort on Monday to continue operating in the United States, asking the Supreme Court to temporarily block a law intended to force ByteDance, its China-based parent company, to divest the short-video app by Jan. 19 or face a ban. TikTok and ByteDance filed …

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