Latest News
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Yum China announces strong expansion plans for KFC, Pizza Hut and other KFC restaurants
Yum China Holdings (the parent company of KFC in China and Pizza Hut there) said on Monday that it would continue to run a vigorous campaign in order to improve profitability and open new stores in the future. Smaller cities will be a key target. Yum China stated that by 2028 KFC plans to have over 17,000 stores in China, with an operating profit of 10 billion yuan (1,41 billion dollars). The company will use lower-capex store models in order to expand into smaller, untapped cities. The group expects to double the operating profit for Pizza Hut in China by 2029, compared to 2024. Joey Wat, CEO of Yum China, said that despite a highly competitive market, the company sees a huge potential in China and is aiming to reach a third of the country's population by the middle term. Wat stated that while the macroeconomic climate remains difficult, Yum China has seen some signs of improvement in October and November. Customers still care about price and value for money but you can sense that overall sentiment is becoming more optimistic.
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Stocks and bonds remain steady as Nvidia's earnings test looms
Stocks and bond rates held steady on Monday as markets took a breather after a wobble last week in tech stocks that could be repeated or reversed when $5 trillion chipmaker Nvidia releases earnings on Wednesday. Investors are also awaiting the headline U.S. job data, due on Thursday. However, the report could do little more than confirm private market surveys that showed the labour market was slowing. The benchmark European index of 600 large stocks gained 0.1% during a subdued morning trading session. Wall Street is expected to follow suit as S&P futures moved up 0.6% and Nasdaq futures rose 1%. After policymakers sounded hesitant, the expectation of a U.S. rate cut in December has fallen to less that 50%. This has put pressure on the stock market, particularly in the volatile and rate-sensitive technology sector. ASIA STOCKS CHINA-JAPAN TENSION SNAKES After China warned its citizens to avoid Japan, the Nikkei index in Asia fell by 0.2%. Tourism and retail stocks were also down. Shares of department store operator Isetan Mitsukoshi, Muji parent Ryohin Keikaku, and cosmetics manufacturer Shiseido have declined by around 10%. In Australia, the Australian bourse was flat due to a 0.6% drop for BHP following Britain's High Court finding it responsible for a Brazilian dam collapse. Hong Kong and China's indexes both fell by around 1%. Data revealed that Japan's economy contracted in the first quarter of this year due to tariffs imposed by the United States. A Nikkei article on a $110 Billion stimulus plan weighed down on bonds, sending yields on 20-year bonds to their highest level in 26 years. Analysts also see risks for the yen if confidence in fiscal discipline is shaken. This was evident in Britain, where stocks, bonds, and sterling fell on news that Finance Minister Rachel Reeves would not be pursuing tax increases. The yield on the 10-year U.S. Treasury note was unchanged at 4.1347%. Germany's benchmark 10-year bond, which is the standard for the Euro zone, also remained steady at 2.715%, after reaching its highest level since October 7, at 2.718%. Wall Street indexes recovered on Friday from a steep selling off to post a mixed closing, with the S&P 500 registering a slight drop and the Nasdaq registering a modest gain. NVIDIA EARNINGS AND US JOBS SLOW DOWN IN FOCUS This week, the headline U.S. release will be Thursday's September jobs report. Private surveys have already indicated a slowdown in the labour market, so these figures are likely to be too old. The Fed's more hawkish officials will not change their tune if it only confirms this. The CPI data will be crucial for them, as they are more concerned about inflation risks. On Friday, the expectation of a rate cut was dampened when Kansas City Fed president Jeffrey Schmid and Dallas Fed president Lorie Logan questioned whether it would be necessary to reduce rates next month. Home Depot, Target and Walmart report their earnings this week in the U.S. All eyes are on Nvidia, as the market response will be a test for the recent rally. Nvidia's shares have increased by about 1,000% in value since the launch ChatGPT, which took place in November 2022. Nvidia's market value surpassed $5 trillion last month after a gain of over 40% year-to date. The U.S. Dollar was slightly higher in foreign exchange. It held the euro at $1.16, and crept up on the other majors. Gold has dropped to $4,072 per ounce. However, the precious metal's price has increased by 55% since January 1, when it was $2,624 per ounce. This is due to a rise in demand for safe havens, geopolitical tensions, and expectations that rates will fall. Brent crude futures fell 0.64% to $63.98 after loading resumed in a Russian hub that had been hit by an attack from Ukraine. Bitcoin, which in recent months has acted as a barometer for the mood of technology stocks, is suffering its biggest weekly drop since March. It lost more than 10 percent last week. It was up 2% at $95,517 on Monday. Reporting by Lawrence White, London; Tom Westbrook, Singapore; and Jamie Freed and Christopher Cushing.
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China's Lithium Demand Booms after Ganfeng Chairman Predicts 2026
China's Lithium price surged Monday after the Chairman of the major Chinese producer Ganfeng lithium Group Co predicted demand growth of 30% to 40% for battery metal in 2026. The Guangzhou Futures Exchange's most traded lithium carbonate contract rose 9%, reaching a high of 95,200 Yuan ($13401.28) a metric ton. This is the highest price since June 2024. The peak was reached after the local media outlet Cailian published Li Liangbin's comments in a speech at a conference. Li said that the demand for lithium carbonate could increase its price to more than 150,000 yuan per ton or even 200,000 yuan. In China, lithium carbonate prices are rising, with an increase of more than 17% this month. Investors predict that the energy storage industry will be booming. The rise in prices is also attributed to supply concerns caused by the delayed reopening CATL's flagship Jianxiawo Lithium Mine in Yichun City, Jiangxi Province. As reported previously, CATL continued to use external sources of lithium ore in November to produce lithium carbonate as Jianxiawo Mine remained closed. Shares of Tianqi Lithium rose 9.87%, Chengxin Lithium rose 10.01% and Ganfeng Lithium shares increased 7.48%. ($1 = 7.1038 Chinese Yuan Renminbi). (Reporting and editing by Lewis Jackson and Dylan Duan)
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TotalEnergies signs 5.1 billion Euro deal with Kretinsky’s EPH to enhance European power portfolio
TotalEnergies, the French oil giant, announced on Monday that it had agreed to purchase 50% of EPH's flexible energy generation platform in Western Europe. The deal is a stock-only transaction worth 5.1 billion euros ($5.92 billion). EPH, which is majority owned by Czech billionaire Daniel Kretinsky will receive 5.92 billion euros in TotalEnergies stock under the agreement. This makes EPH one of TotalEnergies' largest shareholders, with 4.1% of their capital. TotalEnergies is pursuing a strategy to become the leading integrated electricity provider in Europe by combining renewables and flexible generation in order to meet growing demand in sectors like data centres. The transaction creates a joint venture that will manage gas-fired plants, biomass plants, and battery systems in Italy, UK, Ireland and France. Kretinsky is one of Europe's leading energy and media investors. He also owns stakes in Royal Mail, a French retailer, and Casino. TotalEnergies anticipates that the transaction will immediately increase free cash flow per shares and bring forward a positive cash contribution to its Integrated Power Segment to 2027, from previously 2028. The completion date is mid-2026, pending regulatory approval.
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Iron ore reaches two-week highs on China's stimulus hopes and firm near-term demand
Iron ore prices rose on Monday, reaching their highest level in two weeks. This was due to a strong near-term demand as well as renewed hopes for stimulus from China, the world's largest consumer after a series of disappointing data. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 1.81% higher, at 788.5 Yuan ($110.97), its highest level since Nov. 3. As of 0715 GMT the benchmark December iron ore traded on the Singapore Exchange increased 1.57% to $104.2 per ton. This is its highest level since Nov. 4. In an interview given to Xinhua News Agency on Saturday, China's Finance Minister said that the country will be strengthening its fiscal policy in the next five-year period. The second largest economy in the world is on course to reach its annual growth goal of around 5%. However, a series of weak data have highlighted challenges ahead. This has reignited hope of stimulus following a December politburo. Analysts at Zhenxin Futures wrote in a report that an unexpected increase in demand had supported the rebound in ore price. As of November 13, the average daily hot metal production, which is a measure of iron ore consumption, ended six weeks of consecutive declines and rose 1.1% week-on-week, reaching a new three-week-high of 2,37 million tons. The price gains were limited due to the pressure of swollen portside inventories, and increased shipments. Coke and other steelmaking ingredients, coking coal, have risen by 0.75% each and 1.76% respectively. The benchmarks for steel on the Shanghai Futures Exchange have gained some ground. Rebar climbed 1.64%; hot-rolled coils jumped 1.57%; wire rod ticked up 0.52% and stainless steel nudges up 0.04%. ($1 = 7.1054 Chinese Yuan) (Reporting and editing by Subhranshu Sahu; Amy Lv, Lewis Jackson)
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Copper prices fall as concerns grow about a US rate cut for December
Copper prices eased Monday, amid a general sell-off in the base metals complex. Concerns about a possible December rate cut were fueled by hawkish comments from officials of the U.S. Federal Reserve. The most active copper contract at the Shanghai Futures Exchange ended daytime trading with a loss of 0.91%, closing at 86450 yuan per metric ton ($12169.54). As of 0715 GMT, the benchmark three-month price for copper traded on the London Metal Exchange fell 0.20%, to $10,830 per ton. Markets are under pressure because traders have bet against the Fed cutting rates in December. Some policymakers of the U.S. Central Bank expressed concern about inflation and questioned whether another rate reduction is needed. On Friday, the U.S. Government announced that it would begin releasing economic data that had been delayed due to the shutdown of government. This includes Thursday's delayed September job report. As the market priced in the hawkish opinions, Monday saw the U.S. Dollar strengthening. The dollar's strength makes commodities priced in greenbacks more expensive to investors who use other currencies. The market's sentiment continued to be weakened by disappointing economic data and weak China demand. Aluminium, zinc, lead, and nickel all fell in value. Tin also dropped 1.32%. Last week, inventories of all base metals except copper rose on SHFE, which indicates a weakening demand. The price of other LME metals was largely unchanged. Zinc remained stable, while tin and nickel were slightly higher. $1 = 7.1038 Chinese Yuan Renminbi (Reporting and editing by Dylan Duan, Lewis Jackson)
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Indonesia will tax gold exports up to 15% from 2026
A senior official from the Finance Ministry said that Indonesia will impose taxes of 7.5% to 15% on gold exports in a plan which will be implemented next year. Febrio Kakaribu, director general for fiscal strategy at the Ministry, said that the tax policy is currently being finalised and will be designed to lower rates on processed goods in order to encourage domestic processing. He said that minted gold bars and ingots would be subject to a higher price than dore, which are bars or ingots containing impurities. He said that global gold prices would also play a role in determining taxes. Higher rates will be charged when the price of gold is at or above $3200 per troy-ounce, to capture the miners' windfall profit. Since early November, spot gold has traded above $4000 per ounce. This year, it is up by more than half. Indonesian gold exports have soared to $1.64 billion in the first nine months 2025. This is a huge increase from the $1.1 billion shipped for the entire last year. Singapore, Switzerland and Hong Kong were the top three buyers. Indonesia, a resource-rich country, has the fourth largest unmined gold reserve in the world, which is located in the Grasberg Mine in the east of the country, operated by a unit of Freeport McMoRan. Febrio stated that many domestic investors are finding it difficult to purchase gold bars due to the gold investment boom. We want gold production and circulation in Indonesia. Febrio added, "We want to add as much value as possible in order for Indonesians to enjoy gold." He said that the government is still discussing its plan to tax coal exports. (Reporting and editing by John Mair, Edwina Gibbs, and Gayatri Suryo)
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Stocks on edge as Nvidia's earnings test looms
Asia's stock market fell on Monday as a dispute between China, Japan and the United States intensified. Investors looked forward to a week full of data catch-up and corporate earnings. Investors may be more interested in Nvidia's results on Wednesday after the market, as headline data for the U.S. labor market due on Thursday will have a bit of a dated feel. Nasdaq futures grew 0.7% and S&P 500 futures 0.4% during the Asia session. European and FTSE Futures dropped about 0.1%. After policymakers sounded hesitant, the expectation of a U.S. rate cut in December has fallen to less that 50%. This has put pressure on the stock market, particularly in the volatile and rate-sensitive technology sector. TENSION BETWEEN CHINA AND JAPAN After China warned its citizens to avoid Japan, the Nikkei index in Asia fell by 0.2%. Tourism and retail stocks were also down. Shares of department store operator Isetan Mitsukoshi, Muji parent Ryohin Keikaku, and cosmetics manufacturer Shiseido have declined by around 10%. In Australia, the Australian bourse was flat due to a 0.6% drop for BHP following Britain's High Court finding it responsible for a Brazilian dam collapse. Hong Kong and China's indexes both fell by around 1%. The Nikkei reported on a $110 Billion stimulus plan, which weighed down on bonds. It sent yields on 20-year bonds to their highest level in 26 years. Analysts see a risk for the yen if confidence in fiscal discipline is shaken. This was evident in Britain, where stocks, bonds, and sterling fell on news that Finance Minister Rachel Reeves would not be raising taxes. The yield on the 10-year U.S. Treasury rose to 4.163% in Asia. Wall Street indexes recovered on Friday from a steep saleoff on Friday, resulting in a mixed closing. The S&P 500 saw a slight drop and the Nasdaq saw a modest gain. NVIDIA JOBS This week, the headline U.S. release will be the delayed September jobs report on Thursday. Private surveys have already indicated a slowdown in the labour market, so these figures are likely to be stale. The Fed's more hawkish officials will not change their tune if it only confirms this. The CPI data will be crucial for them, as they are more concerned about inflation risks. On Friday, the expectation of a rate cut was dampened when Kansas City Fed president Jeffrey Schmid and Dallas Fed president Lorie Logan questioned whether it would be necessary to reduce rates next month. Home Depot, Target and Walmart report their earnings this week in the U.S. All eyes are on Nvidia, as the market response will be a test for the recent rally. Nvidia's shares have increased by about 1,000% in value since the launch ChatGPT, which took place in November 2022. Nvidia's market value surpassed $5 trillion last month after a gain of over 40% year-to date. The U.S. Dollar was slightly higher in foreign exchange. It held the euro at $1.16, and crept up on the other majors. Gold suffered a loss of $4,060 per ounce on Friday. Brent crude futures fell 1% to $63.78 after loading resumed in a Russian hub that had been hit by an attack from Ukraine. Bitcoin, which in recent weeks has acted as a barometer for the mood of technology stocks, suffered its biggest weekly drop since March. It had lost more than 10 percent last week. It was trading at $95,000. Reporting and editing by Jamie Freed, Christopher Cushing, and Tom Westbrook.
Farmers in India's Punjab aim to reduce pollution by recycling crop waste
In order to combat the worsening pollution in New Delhi's capital, Punjab, some farmers from the northern neighbouring state of Punjab have started sending their crop stubbles to factories instead of burning them.
The smoke from stubble burning in winter, combined with dust and exhaust fumes from vehicles, is trapped in the air because the wind speed is low and the temperature is lower.
According to the Confederation of Indian Industry group, farmers are adapting to using balers to stack stubble and sending it to factories to be turned into biogas and biofertiliser. They also use it to make cardboard and biogas.
Punjab is home to around 12,000 villages, and stubble-burning is common in the northern states.
"While it has resulted in some reduction of stubble burning, incentivisation of such initiatives and awareness is still limited in comparison to the intensity needed to tackle the issue in a comprehensive manner," said Sunil Dahiya. He's the founder and lead analyst of Envirocatalysts in New Delhi.
CII has announced that it will provide equipment and resources to the initiative.
Smoke is a result of stubble burning. We don't find it exciting, so we stock it and send it to boilers for sale," said Dalbir Singh a 25-year old farmer from Balwar Kalan Village in Sangrur District.
In the past, stubble-burning was the fastest way to clear fields in between rice harvesting, and wheat sowing. This is usually done from early to mid November.
The air quality index in New Delhi hovered at 400 last week, ranking it as "severe". This prompted authorities to tighten restrictions on industrial and construction activity.
Gurnaib, a 53-year old farmer from Phaguwala Village in Sangrur says that he has built a cardboard factory from the waste stubble. This not only helps to keep the air cleaner, but it also provides employment for dozens of people at his plant. Sunil Kataria, Additional Reporting and Writing by Neha Arora. Editing by Raju Gopikrishnan.
(source: Reuters)