REUTERS WORLD NEWS: China to Ease Covid Curbs as Protests Continue, Ukraine Latest, Macron Visits Biden, World Cup News, More

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Reuters

The Reuters Daily Briefing

Thursday, December 1, 2022

by Linda Noakes

Hello

Here’s what you need to know.

A U.S. appeals court rejects Biden’s bid to revive his student debt plan, markets sigh with relief after the Powell speech, and a British royal aide steps down after making racist comments

The Reuters NEXT global forum continues, with speakers including IMF Managing Director Kristalina Georgieva, World Bank President David Malpass and U.S. Treasury Deputy Secretary Wally Adeyemo. You can watch live here.

Today’s biggest stories

Residents confront workers in protective suits blocking the entrance of a residential compound in Shanghai, China, in this still image obtained from a social media video released November 30, 2022

WORLD

China is set to announce in coming days an easing of its COVID-19 quarantine protocols and a reduction in mass testing, sources told Reuters, a marked shift in policy after anger over the world’s toughest curbs fueled widespread protests.

Russian forces tried to advance in eastern Ukraine and trained tank, mortar and artillery fire on Kherson in the south, the Ukrainian military said, as Western allies sought to buttress Ukraine and its neighbors against Moscow. Here’s what you need to know about the conflict right now.

Spain has stepped up security at public and diplomatic buildings after a spate of letter bombs, including one sent to Prime Minister Pedro Sanchez and another to the Ukrainian embassy in Madrid, where an official suffered minor injuries.

The world must cooperate to tackle the greatest challenges of climate change, terrorism, and pandemics, Prime Minister Narendra Modi said as India began its year-long presidency of the G20.

A member of the British royal family’s household has left her role after making “unacceptable and deeply regrettable” comments about race and nationality to a woman at a grand reception at Buckingham Palace.

World Cup host Qatar, where foreigners make up the majority of the 2.9 million population, has faced intense criticism from human rights groups over its treatment of migrant workers amid claims that thousands have died. Here’s a look at the issues.

U.S. President Joe Biden and French President Emmanuel Macron talk outside Fiola Mare restaurant in the Georgetown neighborhood of Washington, November 30, 2022. REUTERS/Evelyn Hockstein

U.S.

A federal appeals court declined to put on hold a Texas judge’s ruling that said President Joe Biden’s plan to cancel hundreds of billions of dollars in student loan debt was unlawful.

As Democrats transitioned smoothly to a new leader in the House of Representatives, Republicans girded themselves for a showdown over Kevin McCarthy’s bid for speaker that could leave the chamber adrift in the early days of 2023.

Biden and French President Emmanuel Macron will celebrate more than 200 years of U.S.-French relations today but simmering in the background is a dispute over new American subsidies that has riled Europe. Biden will fete Macron with Maine lobster and California sparkling wine at a state dinner.

Closing arguments to the jury by prosecution and defense lawyers are set to begin in the criminal tax fraud trial of former President Donald Trump’s real estate company, which is accused of running a 15-year scheme to defraud tax authorities.

Indiana’s attorney general asked the state’s medical board to discipline an Indiana doctor who performed an abortion on a 10-year-old rape victim from Ohio in a case that became a flashpoint in the debate over access to the procedure.

BUSINESS

A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell, but some investors believe a looming recession could cap gains in both asset classes.

The downturn in manufacturing activity across the euro zone eased in November, according to a survey which suggests while the bloc’s factories still face a harsh winter it may not be as bad as initially feared.

While retail has been slower to adopt automation than sectors such as autos and electronics, it has been picking-up the pace – from the introduction of basic self check-out tills in stores to the use of robots and AI in supply chains. Now tight labor markets, rising wages and consumer spending pressure are forcing the industry to go further.

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.

Elon Musk said he expects a wireless brain chip developed by his company Neuralink to begin human clinical trials in six months, after the company missed earlier timelines set by him. The company is developing interfaces that it says could enable disabled patients to move and communicate again

HIGHLIGHTS FROM THE REUTERS NEXT SUMMIT

Canadian Prime Minister Justin Trudeau expressed support for Chinese protestors, while BHP CEO Mike Henry said he expects Chinese economic growth to continue despite lockdowns

Bank of Korea Governor Rhee Chang-yong said he was ready to readjust the pace of tightening monetary policy

NYSE President Lynn Martin, Nasdaq President Adena Friedman and HKEX Chairman Laura Cha all discussed the IPO outlook for 2023

U.N. Under-Secretary-General Martin Griffiths said he would be asking for 25% more aid globally, while Japan raised the prospect of a U.N. treaty discussing the production of plastics

WORLD CUP 2022

Argentine fans find faith again, Tunisians enjoy a historic but bittersweet win, and Australians demand a national holiday

FULL COVERAGE

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