China services activity hits three-year low while factory slump persists

Swiss voters have decisively rejected a proposed 50% inheritance tax aimed at the super-rich, with estimates indicating that 79% voted against the measure in a recent referendum. This outcome reflects a strong opposition to wealth redistribution policies among the electorate.

China's factory activity showed slight improvement in November but continued to remain in contraction, marking the eighth consecutive month of decline according to the Purchasing Managers' Index (PMI). This indicates ongoing struggles within the manufacturing sector despite some signs of recovery.

Consumer spending on services in China is experiencing significant growth, presenting substantial opportunities for Western companies, according to business scholar John Quelch. This trend indicates a shift in consumer behavior towards service-oriented expenditures, highlighting a dynamic market landscape.

China's official factory gauge showed a slight increase in November, indicating stronger production and demand, although it has remained in contraction for the eighth consecutive month. This suggests a modest improvement in manufacturing activity despite ongoing challenges in the sector.

China's factory activity contracted again in November, indicating ongoing challenges in the manufacturing sector, while service sector growth also showed signs of cooling. This trend raises concerns about the overall economic stability in China as it grapples with persistent pressures.

OpenAI, the company behind ChatGPT, is facing increasing pressure as competitors begin to close the gap in the artificial intelligence market, raising concerns about its future dominance. The company, valued at $500 billion, has yet to achieve profitability, which is further compounded by its partners carrying significant debt.

The Financial Times explores the evolution of clocks from mere tools for measuring time to instruments that dictate the pace of modern life, particularly within capitalist societies. This transformation highlights how the measurement of time has become intertwined with economic productivity and personal wealth.

China has transitioned from being a lucrative market for Western companies to a testing ground for innovation, driven by intense competition that has prompted brands to adapt to local tastes and lower prices.