Welcome back to a refreshing edition of the FirstFT Asia newsletter! While we take a short break, we’ll be back in your inbox this Thursday. Enjoy the holidays and stay tuned for today’s highlights:
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Washington’s Probe into China’s Semiconductor Sector:
- The US has launched an investigation into China’s alleged anti-competitive practices in the semiconductor sector.
- Chinese strategies, including market share targets, has escalated tensions, sparking fears of disruptions.
- The probe under Section 301 of the US Trade Act targets foundational semiconductors crucial for various industries.
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US Banks’ Remarkable Profits:
- US banks are expected to report bumper profits in 2024.
- The four biggest banks collectively earned $88 billion in the first nine months of the year.
As geopolitical risks are weighed by the Reserve Bank of Australia and Japan’s central bank shares forecasts, headlines from Honda-Nissan merger talks to Moldova’s presidential inauguration under EU-friendly president-elect Maia Sandu, and India’s diplomatic clash with Bangladesh further enrich today’s news feeds.
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France’s New Financial Line-up:
- Prime Minister François Bayrou appoints Eric Lombard as finance minister to revamp economic plans.
- Tasked with generating a successful tax and spending plan for 2025 amid a tumultuous political environment.
Today’s highlights also feature the UK’s stalled economy, Russia’s nuclear expansion in developing markets, and the intriguing contrast of mental healthcare models in Trieste, Italy.
In Conclusion:
Amidst global economic shifts, geopolitical tensions, and innovative progress, the intricate dance of international affairs plays out. Stay informed, engaged, and let curiosity guide you through the dynamic landscape of today’s news.
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