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China to exempt some Nexperia orders from export ban
China said Saturday it will exempt some Nexperia chips from an export ban that has alarmed European businesses, days after trade talks between the leaders of the world's two largest economies.
Food stamps, the bulwark against hunger for over 40 mn Americans
The ongoing budget deadlock in the United States is threatening food security of around 42 million Americans who receive food stamps at the start of each month to help get by. Today, around one-in-eight Americans receive SNAP benefits each month based on income, according to the Department of Agriculture.
US Fed official backed rate pause because inflation 'too high'
A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was "too high" for comfort. Among the 10-2 majority voting for a quarter-point cut this week was Fed governor Christopher Waller, a Trump nominee who is on the five-person shortlist to take over from Powell when he steps down as Fed chair next May.
Swiss central bank profits boosted by gold price surge
Switzerland's central bank on Friday reported a profit of 12.6 billion Swiss francs ($15.7 billion) for the first nine months of 2025, boosted by soaring gold prices and rising stock markets. To diversify its reserves, the Swiss central bank's equity portfolio uses a passive strategy that reflects stock market indices rather than picking stocks out to generate profits.
Profits dip at ExxonMobil, Chevron on lower crude prices
US oil giants ExxonMobil and Chevron reported lower earnings Friday as the decline in oil prices offset the lift from higher production. The results showed the impact on earnings from crude oil prices in the $60-$70 per-barrel range, down about $10 from the 2024 period.
2,000 trucks stuck in Belarus after Lithuania closes border: association
Some 2,000 trucks were stranded Friday in Belarus after Lithuania closed its border in response to recent airspace disruptions, a truckers association said. "Around 2,000 trucks are stranded in Belarus," Oleg Tarasov, vice president of Linava, the Lithuanian road carriers' association, told AFP on Friday.
French lawmakers reject wealth tax proposal in budget debate
France's lower house on Friday rejected a wealth tax proposed by the left, which has threatened to bring down the government if a levy on the super-rich is not in the budget. The lower house of parliament also voted down a "Zucman-light" proposal from the Socialists.
China's suspension of rare earth controls applies to EU: official
The EU's commissioner for trade on Friday said China's one-year suspension on its restrictions of rare earth materials would apply to the bloc as well as the United States. Following discussions with the United States, China on Thursday said it would suspend certain export restrictions announced in October, including on rare earth materials, for one year.
Italy complains about strong euro, urges ECB to cut rates
Italy's foreign minister called on the European Central Bank on Friday to reduce interest rates to weaken the euro, warning its strength was hurting his country's exporters.
AFP
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