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On December 22nd, Capital Economics economist Alex Kerr pointed out that although data showed UK GDP grew by only 0.1% quarter-on-quarter in the third quarter, the economic situation appears slightly healthier than previously expected. Business investment data was significantly revised upwards from a previously reported 0.3% quarter-on-quarter decline to a 1.5% increase; meanwhile, despite a decline in real household income, consumer spending was stronger. The growth rate of household consumption expenditure was also revised upwards, and the household savings rate fell from 10.2% in the second quarter to 9.5% in the third quarter, the lowest level in over a year. However, these figures are all lagging indicators and do not change the overall picture of slower GDP growth in the second half of 2025. In the past seven months, the UK economy has only grown in two months.December 22nd - According to the Hong Kong Stock Exchange, the London Metal Exchange (LME) has performed strongly this year, with average daily trading volume from the beginning of the year to November 30th increasing by 6% compared to the same period last year. Following the launch of its new trading platform LMEselect v10 in March, the LME also released a modernization plan for the options market aimed at improving liquidity and transparency. The LME plans to introduce automatic expiration of options in the early second half of 2026 and expects to launch electronic options trading by the end of the year.Polish state oil company: Its Norwegian subsidiary has acquired stakes in the North Sea Albusker and Vesterekofis oil fields, a deal that will increase the companys resources by approximately 8 million barrels of oil equivalent. The project involves starting production from a total of three deposits, providing the group with an additional 420 million cubic meters of natural gas annually.On December 22, the Hong Kong Stock Exchange (HKEX) announced in its 2025 review that Hong Kong officially became a recognized delivery location of the London Metal Exchange (LME) this year, a significant milestone for both the LMEs global network and coverage, and the development of Hong Kongs commodity market. As of December, Hong Kong has 13 LME-recognized delivery warehouses, reflecting Hong Kongs commitment to developing into a global commodity trading center. The LME also performed strongly this year, with average daily trading volume from the beginning of the year to November 30 increasing by 6% compared to the same period last year. Following the launch of the new trading platform LMEselect v10 in March, the LME also released a modernization plan for the options market aimed at improving liquidity and transparency. The LME plans to introduce automatic expiration of options in the early second half of 2026 and expects to launch electronic options trading by the end of the year.On December 22, Bainaqiancheng announced that it is planning to acquire assets through a combination of share issuance and cash payment, and intends to raise supporting funds. Due to uncertainties surrounding the matter, trading in the companys shares will be suspended from the opening of the market on December 16, 2025. The company expects to disclose the transaction plan within no more than 10 trading days, i.e., apply for the resumption of trading in its shares before December 30, 2025. As of the date of this announcement, the company, together with all parties involved in the transaction, is conducting comprehensive negotiations on the transaction plan, due diligence, and other related work. The transaction is currently progressing smoothly. During the suspension period, the company will actively advance all aspects of its work and fulfill its information disclosure obligations in a timely manner based on the progress of the transaction-related matters.

Meta Preparing Thousands of Layoffs in Latest Tech Industry Retrenchment

Aria Thomas

Nov 07, 2022 14:05

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The parent firm of Facebook, Meta Platforms (META), will lay off hundreds of staff this week, the Wall Street Journal reported on Sunday, citing individuals familiar with the matter. Wednesday is planned for the announcement.


Meta will be the second technology business in recent weeks to announce layoffs or hiring restrictions, as the sector prepares for a sales downturn.


Meta has 87,000 workers as of September, and this will be the first significant layoff in the company's 18-year existence.


Following Elon Musk's purchase of Twitter, the firm declared it will reduce its personnel by up to 50 percent. Amazon said it will halt additional recruiting. Lyft said that it will reduce its personnel by an extra 13% in its second wave of layoffs. Stripe revealed a 14 percent reduction in its staff.


Meta refused to comment on the layoffs, but referenced CEO Mark Zuckerberg's recent declaration that the business will "concentrate its spending on a few of high-priority growth areas."