Business Highlights: World markets, Tesla sales


Global markets were mixed after the S&P 500 ended its worst year since 2008.

BANGKOK – Equities started the year mixed as European benchmarks edged higher after a weak session for the few Asian markets not closed for the New Year holidays. IMF Director Kristalina Georgieva said in an interview with US TV network CBS that a third of the world is expected to fall into recession this year. Data on Chinese manufacturing showed weaker activity over the weekend as the COVID-19 outbreak further disrupted businesses. on Wall Street; Losers extended the S&P 500 as stocks fell 0.3% on Friday. This week brings employment data and minutes from the Federal Reserve’s latest meeting.

Dems, GOP has unique priorities for 2023: AP-NORC poll

WASHINGTON: Republicans and Democrats share sharply different views on what is most important for the government to address when inflation is high, a poll has found. The economy overall remains a bipartisan issue listed by the majority in an open-ended question as the top five priority issue in 2023, according to a December poll by The Associated Press-NORC Center for Public Affairs Research. . Thirty percent name inflation. In June, enrollment was more than 40 percent, about double that of a year ago. Republicans more than Democrats on inflation; Energy and immigration are considered top priorities for the country. Democrats are on health care; climate change; poverty, racism They focus on abortion and women’s rights.

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Macau eases COVID rules, but tourism and casinos are yet to reopen.

MACAO — Macau’s easing of border restrictions after China rolled back its “zero COVID” strategy is widely expected to boost its tourism-driven economy. The gaming hub on China’s southern coast near Hong Kong has endured some of the world’s strictest anti-virus controls for nearly three years. China’s worst wave of contagion so far has turned away the high rollers who used to fill its casinos. From December 23 to 27, the city saw an average of 8,300 daily visitors, according to police data. That’s just 68 percent of November. Many shops are still closed, but businesses are hoping the New Year holiday in late January will bring good luck.

Power outages amplify calls for utilities to rethink gas.

NASHVILLE, Tenn. — Questions are intensifying about the Tennessee Valley Authority’s recent decision to double down on fossil fuels after the federal utility’s decision took coal and natural gas units offline. The utility is facing scrutiny over its recommendation to replace some aging coal-fired power plants with natural gas. Then, bringing strong winds and freezing temperatures, many coal and gas units ran into trouble just before Christmas. Another reason to reconsider investing billions in new gas plants and pipelines is blackouts, critics of the utility say.

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Tesla said it sold a record 1.3 million vehicles last year.

Austin, Texas – Tesla said it sold a record 1.3 million electric vehicles last year. But the numbers fell short of CEO Elon Musk’s pledge to increase the company’s sales by 50% annually. The figure surpasses the previous record of 936,000 vehicles delivered by 2021. But it fell just shy of the 1.4 million units needed to reach the company’s 50% growth goal. Year over year, sales increased 40% and production rose 47% to 1.37 million.

Chinese manufacturing is weak amid the COVID-19 outbreak.

BEIJING – China’s manufacturing output shrank for a third straight month in December as the country battles a surge in COVID-19 after China abruptly eased anti-pandemic measures. The monthly purchasing managers’ index fell to 47.0 from 48.0 in November, according to data released by the Bureau of National Statistics on Saturday. Numbers below 50 indicate contraction in activity. This is the largest contraction since February 2020 since the start of the COVID-19 pandemic. The decline comes as China abruptly eased COVID-19 restrictions earlier this month after years of trying to contain the virus. Now that the country is grappling with the pandemic, authorities have stopped publishing daily numbers of COVID-19 infections.

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Banks try to beat women’s lawsuits in Jeffrey Epstein case.

NEW YORK — Deutsche Bank and JPMorgan Chase are asking a federal court to throw out lawsuits alleging Jeffrey Epstein abused young women and helped keep his sex-trafficking ring afloat. Banks argued that they were providing routine services to Epstein and failed to show that they were part of Epstein’s criminal sex-trafficking ring. The banks filed their motion to dismiss the lawsuit in federal district court in New York late Friday. Two women identified as Jane Doe say banks should have seen evidence of sex trafficking by Epstein, the financier who killed himself in 2019.

Dubai levies a 30% tax on alcohol sales and excise license fees.

ROME – Dubai has suspended its 30% tax on alcohol sales in the Sheikhdom, freeing up its required liquor licenses. The announcement on Monday comes after a long-standing source of income for its ruling family and a boost to tourism to the emirate. It appears to have come from a government order from its ruling Al Maktoum family. However, government officials did not immediately acknowledge the decision and did not respond to questions from The Associated Press. But in the Sheikhdom, the regulations regarding alcohol have been relaxed over the years.


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