Markets
Britishvolt to build UK's first electric auto battery 'gigafactory' in Blyth
The project will create 3,000 jobs and reportedly representing the biggest investment in the north east of England since Nissan arrived in 1984. The project's total investment has increased from the £1.2bn previously stated as the company moved the proposed site of the factory, though it has not yet secured a fraction of this amount. [Full Article...]
Inflation still a no-show, U.S. wholesale prices up just 0.1%
Core inflation, which excludes volatile food and energy costs, showed a 0.1% rise in November and a modest increase of 1.4% over the past 12 months. The core reading was up 1.6% annually, the same as in October, the BLS said, and also in line with analysts' predictions. [Full Article...]
A one-off 'wealth tax' could raise £260bn, says Commission
Taxing those households an extra 1% above a £1m threshold could raise £260bn over five years, it said. However, if the goal of the annual wealth tax is to tackle persistent inequality by forcing the affluent to pay their fair share, then "a wealth tax with a high rate could achieve this", the report stated, "but only if avoidance behaviours could be minimised". [Full Article...]
Asian stocks wary over stimulus, pandemic concerns
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3%, while Japan's Nikkei fell by the same margin. Investors bet on stronger economic growth next year as more countries prepare for vaccinations. "USD consolidated amid a lift in US equities to record highs and positive signs that an agreement on an one-week stopgap funding bill that would push off a partial government shutdown",... [Full Article...]
News Corp backs 'significant' news media bargaining code
Mr Frydenberg's comment came as he unveiled new laws - which he will take to federal parliament on Wednesday - which would force the two big digital platforms to negotiate with news media companies in putting a price on their content. However, the companies themselves have in recent years established agreements with news companies in other countries. The government says print media in Australi... [Full Article...]
Ineos to build Grenadier in France after agreeing to purchase Smart plant
It ends slims hopes the vehicle, modelled on the original Land Rover, would be made at a new plant in Wales . But in July it announced it was reviewing the investments due to the pandemic presenting "opportunities in terms of existing manufacturing capacity that were not previously available to us". [Full Article...]
Asia GDP to fall 0.4% in 2020; ADB slightly raises forecast
The new growth forecast, presented in a regular supplement to the Asian Development Outlook (ADO) 2020 Update, is an improvement from the -0.7 per cent gross domestic product (GDP) growth forecast in September, while the outlook for 2021 remains unchanged. [Full Article...]
Nasdaq records worst day since October as tech stocks fall
The Dow, S&P 500 and Nasdaq set all-time intraday highs earlier Wednesday following a surprise $916 billion coronavirus relief proposal from the White House. economy had boosted investor sentiment in recent days. The U.S. death toll from Covid-19, the disease caused by the coronavirus, has risen to 287,550, the most in the world, according to Johns Hopkins University . [Full Article...]