AFP Asia Business
Political turmoil shakes South Korea’s economy
After South Korea’s president and his replacement were both deposed over a failed bid to impose martial law, deepening political turmoil is threatening the country’s currency and shaking confidence in its economy.The won, which plunged Friday to its lowest level against the dollar since 2009, has been in near-constant decline since President Yoon Suk Yeol’s …
Brazil views labor violations at BYD site as human ‘trafficking’
Authorities in Brazil said Friday they were probing Chinese auto giant BYD and one of its contractors for suspected “trafficking” of Chinese workers who were building a factory in the South American country.Federal prosecutors in Brazil are weighing possible criminal action after labor inspectors found 163 Chinese workers “in slave-like conditions” at the construction site …
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Tech slump slays Santa rally, weak yen lifts Japan stocks higher
Hopes for a Santa Claus rally on Wall Street fell Friday as tech stocks slid lower, while a weaker yen lifted Japanese equities.US indices slumped to end the holiday week, with the tech-heavy Nasdaq Composite losing 1.5 percent.Shares in Tesla were closed around 5.0 percent lower, while those in AI chipmaker Nvidia shed around 2.0 …
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