Iran's attorney general said the country had disbanded its so-called morality police and is considering altering the requirement that women cover their heads in public, a move that analysts said was aimed at peeling away support for antigovernment protests.
Mohammad-Jafar Montazeri outlined the steps Saturday, saying the law requiring veils, known as hijabs, was under review by Iran's Parliament and judiciary, and that the morality police had been abolished, according to government-run news agencies.
Ukraine Says Oil-Price Cap Won't Dent Russia's Ability to Fund War
KYIV, Ukraine-Ukraine denounced a price cap on Russian oil agreed to by the U.S. and its allies as a weak measure that would fail to deprive Russia's military machine of funds, as Moscow said it could stop supplying consumers in response.
The Group of Seven agreed Friday to cap the price of Russian oil at $60 a barrel, moving forward with an unprecedented sanction against one of the world's largest producers following its invasion of Ukraine.
Russia Will Rely on 'Shadow' Tanker Fleet to Keep Oil Flowing
Shipping companies have snapped up dozens of secondhand oil tankers this year, paying record prices for ice-class ships that can navigate frozen seas around Russia's Baltic ports in winter.
A driving force behind the purchases, say people familiar with the deals: To get Russian oil to market after the harshest sanctions to date strike Russia's energy industry next week.
British Police Raid London Home of Russian Oligarch, Seizing Cash and Devices
British police arrested a wealthy Russian businessman at his upscale London home, officials said Saturday, amid stepped-up pressure by the U.K. on Russian émigrés who are suspected of aiding the rule of President Vladimir Putin.
The U.K.'s National Crime Agency said more than 50 of its officers took part in the raid, seizing cash and digital devices. Police also arrested a man employed at the residence after he was seen leaving the building with a bag containing thousands of pounds in cash.
Credit Suisse's Investment Bank Spinoff Attracts Saudi Crown Prince
Saudi Arabia's crown prince and a U.S. private-equity firm run by Barclays PLC's former chief executive are among investors preparing to invest $1 billion or more into Credit Suisse's new investment bank, people familiar with the matter said.
Crown Prince Mohammed bin Salman is considering an investment of around $500 million to back the new unit, CS First Boston, and its CEO-designate, Michael Klein, some of the people said. Additional financial backing could come from U.S. investors including veteran banker Bob Diamond's Atlas Merchant Capital, people familiar with that potential investment said. Credit Suisse previously said it had $500 million committed from an additional investor it hasn't named.
New Zealand plans law to force Google, Meta to pay news publishers for content
New Zealand intends to require large tech companies like Google and Meta to compensate local media companies for content they use and share on their platforms.
Willie Jackson, New Zealand's minister of broadcasting, announced Sunday that legislation is being drawn up that will be based on a similar law in Australia, as well as pending legislation in Canada and measures in the U.K. and the EU.
Apple Makes Plans to Move Production Out of China
In recent weeks, Apple Inc. has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world's most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly India and Vietnam, they say, and looking to reduce dependence on Taiwanese assemblers led by Foxconn Technology Group.
Turmoil at a place called iPhone City helped propel Apple's shift. At the giant city-within-a-city in Zhengzhou, China, as many as 300,000 workers work at a factory run by Foxconn to make iPhones and other Apple products. At one point, it alone made about 85% of the Pro lineup of iPhones, according to market-research firm Counterpoint Research.
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Expected Major Events for Monday
00:01/UK: CBI Economic Forecast
01:01/IRL: Nov Ireland Services PMI
07:00/TUR: Nov PPI
07:00/TUR: Nov CPI
07:00/SWE: 3Q Balance of Payments
08:00/AUT: 3Q GDP
08:00/HUN: Oct Retail Sales
08:00/SVK: Oct Internal trade, incl Wholesale & Retail
08:00/CZE: 3Q Wages
08:15/SPN: Nov Spain Services PMI
08:45/ITA: Nov Italy Services PMI
08:50/FRA: Nov France Services PMI
08:55/GER: Nov Germany Services PMI
09:00/EU: Nov Eurozone Services PMI
09:00/UK: Nov UK monthly car registrations figures
09:30/UK: Nov S&P Global / CIPS UK Services PMI
09:30/UK: Nov UK Official Reserves
10:00/CYP: Nov Registered Unemployed
10:00/EU: Oct Retail trade
16:59/SWI: 2Q Locational & Consolidated banking statistics
16:59/SWI: 3Q International debt securities statistics
16:59/SWI: 2Q Domestic debt securities statistics
16:59/SWI: 3Q Exchange-traded derivatives statistics
17:59/UK: 3Q Household Finance Review expected around now
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
12-05-22 0022ET
