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GLOBAL ECONOMY Global factory activity shrank in November but price pressures ease

European PMI data suggests downturn may not be as bad China’s private survey shows continued PMI contraction Factory activity shrinks in Japan, South Korea Surveys highlight darkening outlook for Asia next year LONDON/TOKYO, Dec 1 (Reuters) – Factory output fell widely last month as slowing global demand and the impact of China’s COVID-19 lockdowns weighed, …

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Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ …

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GM’s Cruise plans to enter ‘a large number of markets’ in 2023

DETROIT, Nov 30 (Reuters) – Cruise, General Motors Co’s (GM.N) robotaxi unit, plans to enter a “large number of markets” and scale operations up to “thousands of vehicles” in 2023, Chief Operating Officer Gil West told Reuters. Cruise has announced plans to start offering rides in Austin and Phoenix, adding those cities to its current …

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Analysis: Apple supply chain data shows receding exposure to China as risks mount

SHANGHAI, Nov 30 (Reuters) – Apple Inc’s ( AAPL.O ) wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. With the world’s biggest iPhone factory, operated in central China by Foxconn (2317.TW), battling production shortfalls and labor unrest …

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India stocks to rise 9% by end-2023 despite slowing economy – Reuters poll

BENGALURU, Nov 30 (Reuters) – India’s stock market, which rally to a record high this week, is forecast to rise another 9% by the end of 2023 despite widespread expectations of a gradual slowdown in the economy, according to market experts polled by Reuters. The benchmark BSE Sensex Index (.BSESN) touched an all-time record high …

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Tesla market share could be dented by cheaper rival EVs – S&P Global Mobility

Nov 29 (Reuters) – Tesla Inc (TSLA.O) may be losing its tight grip on the electric car market, as rivals try to chip away at its market share with cheaper options. With electric cars quickly gaining popularity among masses, models priced below $50,000 are in big demand, an area where the world’s most valuable automaker …

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Wall Street ends sharply, hit by Apple and China worries

Cyber ​​Monday spending to hit $11.6 billion – report: Crypto shares fall on BlockFi bankruptcy filing Biogen down after death in Alzheimer’s drug trial Indexes end: S&P 500 -1.54%, Nasdaq -1.58%, Dow -1.45% Nov 28 (Reuters) – US stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked …

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