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Asian Stocks Fall on Fed Fears, China Optimism Wanes By Investing.com

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© Reuters.

by Ambar Warrick

Investing.com – Most Asian stock markets fell on Monday as investors steered away from riskier assets ahead of more signs of U.S. monetary policy this week, while rising COVID-19 cases in China dampened optimism about the country’s economic reopening.

Chinese stocks and Hong Kong were the biggest losers today as markets feared that easing anti-COVID measures in China could lead to much higher infection rates. China is already grappling with a record increase in daily infections.

This has largely offset optimism about a possible economic recovery in the country, with the withdrawal of COVID restrictions.

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The two indices fell 0.8% and 0.6%, respectively, while the Hong Kong index fell by about 2%. Analysts are also expecting high volatility in the Chinese markets as the country eases anti-COVID measures.

The index, which is also heavily exposed to China, fell 0.7%.

Japan’s index fell 0.2% after data in the country showed it remained hanging near 40-year highs in November. The reading shows that price pressures are likely to remain more stubborn and put pressure on the Japanese economy in the near term.

Indices and indices in India were flat on Monday ahead of a key due date later in the day, which is expected to show that price pressures have eased further in the country.

The focus this week is squarely on the headline inflation data in the US on Tuesday. While the data is expected to show that inflation eased further in November, stronger-than-expected inflation for the month could herald a similar trend in consumer prices.

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The data is expected to significantly influence the Fed’s stance on monetary policy. The central bank is due to wrap up its two-day meeting on Wednesday.

However, a stronger-than-expected inflation reading could trigger more hawkish signals from the central bank. Many Fed officials have warned against this stubbornness inflation US interest rates will peak at much higher levels than expected.

However, Treasury Secretary Janet Yellen said that inflation is expected to decline significantly in 2023, which points to some positive trends for the markets.

Rising US interest rates have weighed heavily on Asian stock markets this year, as liquidity conditions have tightened and investors have turned to higher-yielding debt markets.

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Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

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Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.

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US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

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© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

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“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

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It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

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The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,’” Cavulich said.

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Is a Royal Caribbean or Carnival beverage package worth it?

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An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



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