China’s financial system at risks says IMF

Rising levels of debt pose “large risks” to China’s economy, according to the International Monetary Fund (IMF).   In its first report since 2011 on China’s resilience to shocks and contagion, the IMF said it still had concerns over imbalances in the world’s second-largest economy after a stress test on…

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US jobs growth stronger than expected

US jobs growth was better than expected in November, with payrolls rising by 228,000.   Service, health care and manufacturing firms helped to drive the gains, holding the unemployment rate held steady at 4.1%.   Economists had expected an increase of about 200,000 jobs, but early festive season hiring and…

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Thyssenkrupp to build two PET plants in Turkey

Thyssenkrupp Industrial Solutions’ subsidiary Uhde Inventa-Fischer has signed a contract to build two new polymer plants for SASA Polyester Sanayi A.S in Adana, Turkey.   One plant is planned to produce 1,050 metric tonnes per day (380,000 tonnes per year) of PET (polyethylene terephthalate) for low-viscosity applications. The second plant will use…

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UK biofuels plant stops production

The UK’s biggest bioethanol producer has stopped production at its East Yorkshire plant, blaming government “inaction”.   Vivergo Fuels said there was “no guarantee” production would recommence at the Hull facility and said losses had risen due to government delays in making oil companies use 10% bioethanol in petrol.  …

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