Overseas Headlines – December 10, 2020

United states:

Job Openings in U.S. Unexpectedly Rose to a Three-Month High

“U.S. job openings unexpectedly rose in October to a level that’s consistent with a gradual improvement in the labor market as employers seek to adjust headcounts against a backdrop of changing demand and coronavirus infection dynamics. The number of available positions increased to 6.65 million during the month from a revised 6.49 million in September, the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday. The median estimate in a Bloomberg survey of economists was for 6.3 million vacancies. Openings that involve workers recalled from layoffs or positions that are only offered internally are not counted in the figure.”



ECB Boosts Crisis Stimulus With More Bond-Buying, Bank Loans

“The European Central Bank escalated its efforts to shield the euro zone from a possible double-dip recession with another burst of monetary stimulus to lock in low interest rates at least until the pandemic crisis is over. Policy makers increased and extended emergency bond purchases and approved more long-term loans on cheap terms for another year. The euro jumped.”



Hong Kong Gets Chinese Audit Papers the U.S. Is Demanding

“Hong Kong has received the first access to financial audits from mainland Chinese companies, an issue that has vexed relations between the U.S. and China and threatens to lead to the delisting in New York of giants such as Alibaba Group Holding Ltd. As part of a 2019 understanding with the Chinese Finance Ministry, the Hong Kong Financial Reporting Council has now obtained the first batch of audit papers from mainland China, becoming the first offshore regulator to break through the state secrecy barrier.”




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