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Indonesia expects $1 billion investment commitment from Apple in a week, minister says

Indonesia is expecting to get a $1 billion investment commitment from tech firm Apple Inc in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet its local content rules. Minister Rosan Roeslani told lawmakers in a hearing that Indonesia expects more investment if Apple decides to make Indonesia part of its supply chain.

Reuters 5 minutes ago

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Exclusive-Russia approves $320 million sale of Carlsberg assets to local businessmen, document shows

Russia's government has approved the sale of Danish brewer Carlsberg's assets in Russia to VG Invest, a local firm with links to brewery holdings, for 34 billion roubles ($320.75 million), a government document seen by Reuters showed. Moscow seized control of Carlsberg's stake in Russia's Baltika Breweries in July 2023 and placed it under "temporary management," prompting Carlsberg Group CEO Jacob Aarup-Andersen to say that its business had been stolen. Carlsberg's assets were removed from temporary management on Monday.

StanChart targets $200 billion in new wealth assets over next five years

Standard Chartered will target $200 billion in new assets and double digit growth in income from its wealth business over the next five years, it said on Tuesday, as part of a wider strategy to shift to higher fee-earning businesses. The statement from the bank expands on ambitions it unveiled in October to trim back its retail banking business in some markets in order to fund a $1.5 billion pound investment in its wealth unit, particularly targeting mass affluent customers. The bank will also aim to double the size of its relationship manager team by 2028, it said, as well as upgrading branches and investing in technology to win new clients.

Former Trafigura Executive Turns Star Witness in Bribery Trial

(Bloomberg) -- At the heart of Trafigura Group’s landmark Swiss corruption trial is hotly contested evidence from a man who for several years was one of the trading house’s most senior executives, but who won’t be anywhere near the courthouse.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionSwitzerland’s federal criminal court in Bellinzona on Tuesday rejected a request by Trafigura to have the tes

Union says nearly 100,000 workers joined Volkswagen strikes across Germany

Almost 100,000 workers joined walkouts at Volkswagen's German plants on Monday in protest at management plans to cut wages and even close sites at Europe's biggest carmaker, the IG Metall union said, threatening further industrial action. With two-hour strikes by workers on morning shifts and early walkouts on evening shifts, a total of 98,650 employees at nine plants across Germany took part in the industrial action, said the union on Tuesday.

Space firms plot new European satellite venture to take on Starlink

Europe's Airbus, Thales and Leonardo are exploring plans to set up a new joint space company as they look to compete with Elon Musk's Starlink. "Project Bromo", named after an Indonesian volcano, envisages a standalone European satellite champion modelled on missile maker MBDA, which is owned by Airbus, Leonardo and BAE Systems, three people familiar with the matter said.

Wall Street short sellers throwing in the towel, Citigroup says

(Bloomberg) -- Short-sellers are capitulating as the S&P 500 Index keeps hitting record highs and is set for its best year since 2021, while positioning on European stocks remains bearish, further widening the gap between the two markets, according to Citigroup Inc. strategists.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionInvestor positioning in S&P 500 futures is “completely one-sided,” the st

Trump tariffs could weigh on European growth and inflation, ECB's Cipollone says

Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Cipollone, speaking in a pre-recorded interview at a financial conference, took the opposing view.

European Stocks Gain With France, US Data in Focus: Markets Wrap

(Bloomberg) -- European stocks gained as investors tracked developments in France’s political drama and prepared for the busy week of US economic data.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionTechnology shares helped fuel a fourth day of gains for Europe’s Stoxx 600 index, boosted by milder-than-feared US curbs on Chinese access to vital chip and AI components. Germany’s main equity benchma

Tesla China Shipments Fall Again Amid Hopes for Bumper Quarter

(Bloomberg) -- Deliveries from Tesla Inc.’s Shanghai factory fell for a second month in November, despite an increase in subsidies from the Chinese government aimed at enticing more consumers to buy an electric car.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage, Cities Face a Dark New Era of Urban DestructionElon Musk’s electric vehicle maker shipped 78,856 units last month, down 4.3% year-on-year, preliminary data released Tuesday by the Chin

Data cable running across Sweden-Finland border suffers damage

A data cable running across the land border between Sweden and Finland has been damaged, a company providing digital infrastructure and data communication in Northern Europe said Tuesday. Global Connect said the internet cable was damaged in two separate places in southern Finland on Monday, affecting 6,000 private customers and 100 business customers. “The first damage has been repaired and internet access has been mostly restored,” said Global Connect's spokesman in Sweden, Niklas Ekström.