LONDON — British businesses lost steam and pulled back on hiring last month, as industry reacted to the Labour government's bumper tax-raising budget, new data showed Monday. Business confidence in the U.K. fell in November to its lowest level since January 2023, fresh data from business advisory and accountancy firm BDO showed. BDO's Optimism Index fell 5.81 points on the month to 93.49, marking the biggest month-on-month decline since August 2021.
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Welcome to CNBC's home on LinkedIn! Follow us for regular updates about financial news, top CNBC.com stories, behind-the-scenes moments and more. CNBC, Inc. provides business news in the United States and Canada. It provides real-time financial market coverage and business information. The company, through its Web site, cnbc.com, provides real-time market analysis; video programming daily; industry and topic-specific blogs; cnbc.com live stream, a long-form scheduled programming of events; charts; and investing tools. The company was founded in 1989 and is headquartered in Englewood Cliffs, New Jersey. CNBC, Inc. operates as a subsidiary of NBC Universal, Inc.
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Updates
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Soneva and Six Senses founder Sonu Shivdasani said "sustainable" hotels shouldn't have branded water or toiletries in plastic bottles — and that's bare minimum.
Is your hotel sustainable? Not if these two things are in your room, says Soneva’s founder
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China's leaders on Monday pledged "more proactive" fiscal measures and "moderately" looser monetary policy next year to boost domestic consumption, according to an official readout of a key policy meeting that outlined upcoming economic priorities. The Politburo, a top decision-making body led by President Xi Jinping, said it will stabilize property and stock markets while strengthening the "unconventional counter-cyclical" adjustment, the Communist Party's CNBC-translated readout said. This breaking news story is being updated.
China vows 'more proactive' fiscal stimulus measures, 'moderately' looser monetary policy
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Yvonne Force Villareal is an arts entrepreneur who has licensed big-name work for shows like "Billions" and for real estate and public art projects.
Meet the industry insider who curates art for shows on Netflix and beyond
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Marvel's first Asian superhero star, Simu Liu, says he hit "rock bottom" before finding "enlightenment" as an actor — after his career as an accountant was a flop. "I spent maybe the first 22 years of my life trying to live somebody else's definition of success," he told CNBC's Samantha Vadas. "In the process of losing my job and kind of hitting a rock bottom, but then ultimately being liberated from that idea allowed me to define success on my own terms," he said. Liu was born in China and moved to Canada as a child. In 2011, he joined accounting firm Deloitte in Toronto, losing his job after eight months when he "skipped work" to take a role as an extra in the action movie "Pacific Rim," according to his LinkedIn profile. "Suffered an existential crisis that led to enlightenment regarding the definition of success on one's own terms. Became an actor instead," Liu's profile states.
From failed accountant to Marvel and Barbie star: Simu Liu shares how he got out of 'rock bottom'
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Chinese President Xi Jinping and other top leaders are gearing up for the annual central economic work conference, reportedly set to take place this week, as Beijing strives to boost growth. While an official date for the two-day conclave has yet to be announced, Bloomberg has reported that the closed-door meeting will be held from Dec. 11 to 12. Usually, the annual conference is preceded by the high-profile gathering of the Politburo, the top decision making body led by president Xi. During both meetings, top policymakers will review economic performance and policy implementation in the current year, while setting priorities for the following year, economists at Goldman Sachs said.
China's top leaders are set to discuss GDP growth target, stimulus measures amid economic worries
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China's consumer prices rose less-than-expected in November, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday. Analysts polled by Reuters had expected a slight pickup in consumer prices to 0.5% in November from a year ago, versus 0.3% in October. China's producer price index declined for the 26th month. Producer inflation fell by 2.5% year on year in November, less than the estimated 2.8% decline as per the Reuters poll.
China consumer prices climb less than expected as economy slows amid trade war worries
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While healthier alternatives dominate the U.S. bread market, Wonder Bread still makes nearly half a billion dollars in annual sales for Flowers Foods.
How Wonder Bread has survived competition and the fall of white bread
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As a kid, Jack Cowin shoveled snow, delivered newspapers and sold Christmas cards for cash. By the time he reached his 20s, it was burgers instead of cards. Fast forward to today: The 82-year-old is a billionaire, thanks to his fast food empire. Cowin is the founder and chairman of Competitive Foods Australia, the company that operates Burger King as "Hungry Jack's" in Australia. He is also the largest shareholder of Domino's Pizza in Australia, and backs a plant-based meat substitute company called v2food. Before founding Hungry Jack's, Cowin was responsible for bringing Kentucky Fried Chicken to Australia in 1969. Then in 2013, he sold off his KFC franchise of 55 stores in a deal worth about $71 million, according to a representative at Competitive Foods Australia.
He bought a KFC store in Australia for $100,000 in 1969. Today, his fast food company is worth over $3 billion
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President Joe Biden cheered the toppling of Syria's dictatorship in remarks on Sunday, but he warned about the uncertainty during the country's political transition. "It's a moment of historic opportunity for the long-suffering people of Syria to build a better future for their proud country," he said from the White House's Roosevelt Room. "It's also a moment of risk and uncertainty. As we turn to the question of what comes next, the United States will work with our partners and the stakeholders in Syria to help them seize an opportunity to manage the risk." The U.S. will support Syria's neighbors, including Jordan, Iraq, Lebanon and Israel, during the transition period and send senior officials to the region, Biden said. He also pledged to continue the mission against ISIS and to ensure the security of detention facilities in Syria that hold ISIS fighters.
Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses
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