Alphabet Inc.’s Google has said it is delaying its return-to-office plans which were due to start Jan. 10 for U.S. offices at the earliest.
The tech company has said it will wait until next year to decide when its plan to return to offices goes into effect, according to an email Chris Rackow, Google’s vice president of global security, sent to employees. Thursday. The changing plans to reopen Google’s offices were previously reported by CNBC.
Didi Global plans to withdraw from the New York Stock Exchange
Didi Global Inc. plans to delist its shares in the United States and pursue a listing in Hong Kong, a dramatic reversal just months after the Chinese rideshare group’s ill-fated IPO in New York.
The move, which Didi said Thursday was supported by his board of directors, comes as Beijing authorities conclude a cybersecurity investigation into the company. This would mark an escalation in financial decoupling between the United States and China, which has already seen several Chinese companies kicked off U.S. stock exchanges.
FTC challenges Nvidia’s gun holdings deal
WASHINGTON-The Federal Trade Commission filed a lawsuit Thursday to block the proposed takeover by US chip supplier Nvidia Corp. semiconductor design specialist Arm Holdings, arguing the deal with the chip industry is anti-competitive.
The lawsuit marks the start of what is expected to be an aggressive FTC antitrust campaign under the leadership of President Lina Khan, a progressive chosen by President Biden in June to lead the agency.
November likely saw strong job gains, but the Omicron threat looms
The drop in the number of Covid-19 cases likely helped propel the U.S. economy and generate solid job gains in November, economists say, but Omicron’s new variant could undermine that progress.
Economists polled by the Wall Street Journal estimate that employers created 573,000 jobs in November, roughly on par with October. The unemployment rate is expected to fall to 4.5% from 4.6%. The Labor Department is due to release November employment figures at 8:30 a.m. Eastern time on Friday.
Businesses hang on to Libor as deadline approaches
American companies must waive the London interbank offered rate for new debt at the end of December. Many want to make just one more deal before that.
As of January 1, banks will no longer be able to issue new loans or other financial contracts using Libor, which underpins trillions of dollars in business loans, derivatives and home loans. However, they may continue to reference Libor for debt issued before the year-end deadline until June 2023.
Citigroup applies for securities license in China
Citigroup Inc. has applied for a securities license in China, according to a person familiar with the matter, as the New York-based banking giant envisions a greater presence in the world’s second-largest economy.
The bank recently submitted its application to the China Securities and Regulatory Commission, the person said. Citigroup also plans to apply for a term license in the coming months and intends to hire around 100 people in mainland China over the next two years to support its onshore expansion, the person added.
A couple have IRA gold stored at home. They owe the IRS over $ 300,000.
It’s official: Owners of individual retirement accounts with assets invested in gold and silver coins cannot store them in a safe in their home.
So decided in a recent Tax Court case, Andrew McNulty et al. v. Commissioner. The ruling will cost Mr. McNulty and his wife Donna very high taxes of almost $ 270,000 on approximately $ 730,000 of IRA assets, plus penalties likely to exceed $ 50,000.
Asia-Pacific countries use tougher tactics to tackle Omicron variant
Countries in the Asia-Pacific region are creating stricter rules for people infected with the Omicron Covid-19 variant, as governments act more aggressively than they have against all other previous iterations, including Delta.
The changes come as Omicron begins to reach the Asia-Pacific region, Australia, Hong Kong, India, Japan, South Korea, Singapore and Malaysia reporting confirmed cases. The first measures focused on domestic travel restrictions and tightening borders.
Eurozone retail sales increased in October, but missed expectations
Eurozone retail sales rose in October but fell short of expectations, European Union statistics agency Eurostat said on Friday.
Retail sales volume rose 0.2% in October from the previous month, following a revised downward 0.4% drop in September, Eurostat reported. Economists polled by the Wall Street Journal expected an increase of 0.3% for October.
Omicron severity will take longer to assess, doctors say
JOHANNESBURG – It is still too early to say whether the Covid-19 caused by the new variant of Omicron is milder or more severe than that of other strains of the coronavirus, doctors monitoring a rapidly growing epidemic in Africa said on Friday. from South.
The country, which has more known Omicron cases than any other, will likely be the first to provide answers to questions doctors and scientists have faced since the World Health Organization declared the new strain a “variant of concern. ” A week ago. . Key among these is whether Omicron makes infected people sicker, if it is more transmissible, and to what extent current Covid-19 vaccines or past infection protect against the variant.
Andrew Cuomo faces federal investigation into sexual harassment allegations
The Justice Department opened a civil rights investigation against the executive chamber of former New York Gov. Andrew Cuomo after a state report revealed he sexually harassed several women, said people familiar with the matter.
Lawyers working for the U.S. District Attorney for the Eastern District of New York Civil Division sent a letter to state officials before Mr. Cuomo left office in August, saying they were reviewing the policies of employment in the executive chamber, according to those who reviewed the letter. The executive chamber consists of the governor and his main collaborators and advisers.
US to lead global effort to restrict authoritarians’ access to surveillance tools
WASHINGTON – The United States plans to work with other countries to limit exports of surveillance tools and other technologies that authoritarian governments can use to suppress human rights, a suspected practice in China.
The Biden administration said Thursday it would launch an initiative with friendly countries to establish a code of conduct to coordinate export licensing policies. The effort would also allow participating countries to share information on sensitive technologies used against political dissidents, journalists, foreign government officials and human rights activists, administration officials said.
Biden administration issues cybersecurity guidelines for freight and passenger rail
WASHINGTON – Almost all U.S. freight and passenger rail systems will be required to report certain cybersecurity incidents to the Department of Homeland Security within 24 hours of discovery under new guidelines released Thursday by the Biden administration.
The orders, issued under Congressional authority given to the Transportation Security Administration, will affect approximately 90% of passenger rail systems in the United States and 80% of freight rail systems that are considered “higher risk.” said a senior official at the Department of Homeland Security, which means they are seen as essential to economic and national security.
Senate approves spending bill avoiding government shutdown
WASHINGTON-Congress passed a short-term extension of government funding and sent the legislation to President Biden’s office, avoiding a partial shutdown after resolving a deadlock over vaccine rules.
Leading Republicans and Democrats reached agreement on the spending plan Thursday morning to extend funding until February 18, then quickly pushed the legislation through the House and Senate before current funding expired at 12:01 a.m. on Saturday. . The legislation also provides $ 7 billion to help evacuees from Afghanistan.
Write to [email protected] TODAY IN CANADA
Bank of Montreal 4T
Canadian Western Bank 4T
Economic indicators (ET):
0815 Nov. Official international reservations
8:30 am Nov. Production estimates for the main field crops
8:30 a.m. Labor force survey
0830 3Q Labor productivity, hourly compensation and unit labor cost
Actions to watch out for:
Canfor Pulp Products Announces Production Cuts in Response to Supply Chain Challenges; Pulp shipments declined due to weather-related transportation disruptions; Canfor anticipates a minimum 2 week reduction in NBSK production at Northwood Pulp and a minimum 4 week reduction in BCTMP production at Taylor Pulp
Major events expected for Friday
00:01 / UK: November BRC-Sensormatic IQ Footfall Monitor
00: 30 / JPN: Nov Japan PMI Services
06h00 / RUS: Nov. Russian services PMI
7:45 a.m. / FRA: Oct. Industrial production index
08:45 / ITA: Nov Italy PMI Services
08:50 / FRA: nov France Services PMI
08: 55 / GER: Nov Germany Services PMI
9:30 am / UK: Nov CIPS / Markit Services PMI
9:30 am / UK: Nov Official UK reservations
9:30 a.m. / UK: Bank of England third quarter external trade statistics
13:15 / CAN: Nov. Official international reservations
1:30 p.m. / CAN: 3Q Labor productivity, hourly compensation and unit labor cost
1:30 p.m. / CAN: Nov. November estimates of production of principal field crops
1:30 p.m. / CAN: November Labor Force Survey
1:30 p.m. / US: US employment report in November
14: 45 / US: Nov US Services PMI
3:00 p.m. / United States: November ISM Business Services PMI report
3:00 p.m. / US: Shipments, inventories and manufacturers’ orders in October (M3)
16: 00 / US: November Global Services PMI
Every hour in GMT. Powered by Kantar Media and Dow Jones.
Expected profits for Friday
ASA Gold & Precious Metals Ltd (ASA) is expected to issue a report for 2Q.
Bank of Montreal (BMO, BMO.T) is expected to bring in $ 3.18 for the fourth quarter.
Big Lots (BIG) should return $ -0.16 for the 3T.
(MORE FOLLOWING) Dow Jones Newswires
December 03, 2021 06:12 ET (11:12 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.