Stimulus packages in the West come to an end as new ones begin in the East.
Japan’s economic stimulus package will require fiscal spending worth 40 trillion yen ($350 billion), the Nikkei business daily reported on Friday. Prime Minister Fumio Kishida has vowed to compile a stimulus package “worth several tens of trillion yen” on Nov. 19 to spur the world’s third-largest economy, which is reeling from the coronavirus.
Bars and restaurants will close early and sporting events will be held without audiences under a three-week, partial lockdown that is expected to be announced in the Netherlands on Friday evening.
UK’s FTSE 100 index fell on Friday, dragged lower by drugmaker AstraZeneca following its profit miss, while commodity-linked stocks slipped as a stronger dollar dented metal and oil prices.
The Bank of England will be the first major central bank to raise interest rates but whether that initial increase comes as soon as next month or if it waits until early next year has divided economists.
Oil prices fell on Friday, wiping out gains from the previous session as the dollar continued to firm on expectations that the US central bank will bring forward an increase to interest rates in an effort to tame inflation.
|General Motors Co will launch 10 electric vehicles (EVs) in South Korea by 2025, but has no plans yet to manufacture EVs in the country, Steven Kiefer, the head of GM’s international operations said on Friday.|
Johnson & Johnson
|Johnson & Johnson plans to split into two companies, separating its consumer health division that sells Band-Aids and Baby Powder from its pharmaceuticals and medical devices business in the biggest shake-up in its 135-year history.|
|Alibaba smashed its previous sales record for the two-week Singles Day event, China’s version of Black Friday, and the world’s largest shopping spree. It notched 540.3 billion yuan ($84.5 billion) in gross merchandise volume, its measure for sales in the period, up from RMB 498.2 billion in 2020.|