Overseas Headlines – November 27, 2020

United States:

It Takes $2.2 Million a Year to Live in America’s Richest Zip Code

“The richest places in the U.S. keep getting richer. Whether it’s Palm Beach or Fisher Island in Florida, or the hamlet of Atherton in California’s Silicon Valley, millionaires and billionaires are paying a premium to live next to each other. The pandemic has only accelerated a trend that was prevalent even before Covid-19 hit, pushing up home values in the most elite enclaves on Bloomberg’s annual ranking of the U.S.’s richest zip codes.”



Europe Rushes to Woo Team Biden in Hope of Major Trade Rebalance

“France and Germany are leading efforts in Europe to make early contact with President-elect Joe Biden’s team, with the aim of accelerating talks to normalize trade relations between the U.S. and the European Union. At the top of the agenda for Paris is resolving an aircraft dispute that has seen tariffs imposed on more than 10 billion-euros ($12 billion) of transatlantic goods, while Berlin is keen to revive free-trade talks, according to senior officials in both countries.”



China’s Industrial Profits Surge at Fastest Pace in Nine Years

“Profits at Chinese industrial enterprises surged at the fastest pace in a single month in almost nine years in October, a further sign the economic recovery is gathering pace. Industrial profits rose for a sixth straight month, climbing 28.2% in October from a year ago, data from the National Bureau of Statistics showed Friday. For the first 10 months of the year, profits rose 0.7%.”




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