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Didi’s woes intensify as Beijing tightens ride-hailing rules
Chinese regulators on Tuesday announced new rules to rein in the country’s ride-hailing industry in a move that increases pressure on the sector’s embattled leader Didi.The rules from six regulatory agencies include limits on fees companies…
Biden faces legislative logjam in run-up to Christmas
Lawmakers on Capitol Hill are returning to work after the Thanksgiving holiday faced with a logjam of make-or-break votes that will provide another crucial test of Joe Biden’s political power in the run-up to Christmas.After the president…
Zara owner Inditex completes ‘generational’ management overhaul
Zara-owner Inditex has appointed the daughter of its founder as chair and named a new chief executive as it completes a “generational handover process” that it began a decade ago.Shares in the world’s biggest clothing retailer slid more…
European stocks drop as concerns over Omicron variant flare up
European and Asian stock markets fell on Tuesday, while investors parked money in high-grade government bonds, as traders’ attention was dominated by concerns over the Omicron coronavirus variant.The regional Stoxx 600 share index, which…
China factory activity picks up as energy crunch stabilises
Chinese manufacturing activity increased slightly in November, as power supply shortages eased and commodity prices stabilised to help boost output after two consecutive months of contraction.The official manufacturing purchasing managers’…
Moderna chief predicts existing vaccines will struggle with Omicron
The chief executive of Moderna has predicted that existing vaccines will be much less effective at tackling Omicron than earlier strains of Covid-19 and warned it would take months before pharmaceutical companies can manufacture new…
Iranian water protests a ‘wake-up call’ for regime
Farmers demanding water for their crops, protesters with blood pouring down their faces and riot police shouting at them to disperse — in recent weeks the scorched riverbed at the heart of the historic city of Isfahan has been the site of…
The inside story of the Pfizer vaccine: ‘a once-in-an-epoch windfall’
Albert Bourla has become the world’s most in-demand chief executive. As vaccines permitted some countries to reopen their economies over the summer, the Pfizer boss flew into Cornwall for the G7 summit in June, parking his private jet next…
Inflation tracker: the latest figures as countries grapple with rising prices
Much of the world is experiencing a dramatic bout of inflation. Yet many central banks are keeping interest rates at or close to record lows, despite the rise in prices caused by higher energy costs, strong consumer demand and the…
AI is making applying for jobs even more miserable
Job interviews are rarely fun, especially when you are young. I will never forget the opening question in my first interview for the Financial Times graduate trainee scheme: “So, apart from the week before your interview, do you ever…
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