How sanctions made a showpiece Chinese refinery’s Western partners run for the exits. When Shandong Yulong Petrochemical opened its Singapore office a year ago, the company staged a lion dance to herald prosperity for the new $20 billion oil refiner at the center of modernization efforts in its home province in China. (Reuters)  

United Kingdom unveils sweeping new tax hikes. U.K. Treasury chief Rachel Reeves Wednesday announced a second consecutive year of hefty tax rises, a move aimed at reassuring investors that the British state wasn’t slowly going bust under the weight of growing welfare spending and ballooning interest payments on government debt. (Wall Street Journal) 

US government shutdown stalls import purchase decisions. A lack of recent federal data due to an extended U.S. government shutdown is making it more difficult for importers to make purchasing and investment decisions, particularly ahead of the Lunar New Year holiday, Executive Director Gene Seroka said during a Nov. 18 media briefing. (Supply Chain Dive) 

Asia-Pacific markets track Wall Street gains on rising Fed rate-cut expectations. Asia-Pacific markets rose Wednesday, tracking Wall Street gains on hopes that the U.S. Federal Reserve could cut benchmark interest rates in December. (CNBC) 

Front-line workers are more difficult to find, train and retain, study says. Front-line workers make up 70% of the U.S. workforce, but they are increasingly difficult to find, train and retain, according to an analysis by HR advisory firm The Josh Bersin Co. in collaboration with UKG. (Supply Chain Dive) 

Belgian national strike disrupts schools, flights and public transport. The third and final day of a national strike in Belgium on Wednesday grounded most flights at Brussels Airport and disrupted public transport. The strike, organized by the country’s main unions, is the latest in a series of protests against the coalition government led by Prime Minister Bart De Wever. Demonstrators oppose the government’s proposed pension and labor market reforms. (Reuters) 

UK government borrowing costs seesaw as official economic forecasts released early. U.K. government borrowing costs were rocky on Wednesday after the country’s Office for Budget Responsibility unexpectedly released its economic and fiscal forecasts ahead of the Autumn Budget. (CNBC) 

Japan’s new leader infuriated Beijing. She isn’t backing down. Sanae Takaichi has been Japan’s first female prime minister for barely a month and already she has made an impression on the world’s two most powerful men. (Wall Street Journal) 

MIT study finds AI can already replace 11.7% of US workforce. Massachusetts Institute of Technology on Wednesday released a study that found that artificial intelligence can already replace 11.7% of the U.S. labor market, or as much as $1.2 trillion in wages across finance, health care and professional services. (CNBC) 

Canada says Anglo American’s pledges to secure Teck Resources deal not enough. Canadian Industry Minister Melanie Joly said she aims to deliver a decision in coming months on whether Anglo American can proceed with its takeover of Teck Resources, but warned that the British miner’s pledges to date aren’t enough. (Wall Street Journal) 

Small US retailers face holiday supply chaos due to Trump tariffs. U.S. President Donald Trump’s tariff flip-flop on goods from China, a lifeline for U.S. retailers, have forced small firms to choose between paying steep levies or finding new suppliers at even higher cost. (Reuters) 

USPS projects package deliveries will drive FY26 revenue boost. The U.S. Postal Service is preparing for a 9.4% year-over-year revenue jump in its package delivery segment, according to projections submitted to the Postal Regulatory Commission on Wednesday. (Supply Chain Dive)