Production in China is shrinking sharply as Covid infections rise

A textile factory on December 30, 2022 in Jiangxi province. Chinese manufacturing activity contracted at its strongest pace in nearly 3 years in December. Vcg | Visual China Group | Getty Images Factory activity in China contracted for a third straight month in December and at its fastest rate in nearly three years as Covid … Read more

Russia outlines plan for ‘unfriendly’ investors to sell at half price

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Dec. 30 (Reuters) – Foreign investors from “unfriendly” countries selling stakes in Russian assets may have to do so for half the price or less, the finance ministry said on Friday, cutting Russia’s budget by 10% is … Read more

The US dollar relinquished its status as the world’s leading safe haven in the fourth quarter. Here’s how.

The US dollar’s status as one of the few reliable safe havens for investors amid this year’s market chaos began to crumble during the fourth quarter, even as the greenback made its biggest annual gain since 2015. For much of the year, the strong dollar was blamed for weighing on equities as a more expensive … Read more

Here’s how much housing affordability tanked this year

This is how quickly affordability deteriorated this year for first-time buyers: their monthly mortgage payment is almost 60% higher than in January. At the start of the year, the payment for a median-price home was $1,443 after a 10% drop. Now it’s $2,285, or $842 per month more, according to calculations provided exclusively to … Read more

Bankman-Fried plans to plead not guilty in the FTX fraud case

NEW YORK, Dec. 30 (Reuters) – Sam Bankman-Fried is expected to enter a plea on Tuesday not guilty of criminal charges that he defrauded investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a known source with the case. Bankman-Fried is accused of illegally using customer FTX funds to support … Read more

Exclusive drugmakers are raising the prices of at least 350 drugs in the US in January

By Michael Erman and Julie Steenhuysen NEW YORK (Reuters) – Drugmakers including Pfizer Inc, GlaxoSmithKline PLC, Bristol Myers Squibb, AstraZeneca PLC and Sanofi SA plan to raise prices in the United States for more than 350 unique drugs in early January, according to data analyzed by health care research agency 3 Axis consultants. The increases … Read more