Bloomberg Thai e-commerce startup Pomelo Fashion is cutting staff across its functions, joining other tech firms downsizing this year in a bid to withstand an economic slowdown. The online fashion retailer cut about 55 employees, or 8% of its headcount, it said. The company said it has streamlined its processes “to move towards more sustainable growth.” The Bangkok-based startup ...

Bloomberg The death of Queen Elizabeth II prompted an outpouring of condolences from global leaders, many noting that her long reign provided constancy to a world beset by wars, a pandemic and other crises. US President Joe Biden said she “defined an era.” “In a world of constant change, she was a steadying presence and a source of comfort and ...

Bloomberg Kim Jong Un expanded the circumstances under which North Korea would launch a nuclear strike — including attacking automatically if his leadership is threatened — further raising the stakes for any military confrontation with the US and its allies. North Korea laid out its new nuclear doctrine in a law approved by the Supreme People’s Congress in Pyongyang, according ...

  Bloomberg A federal judge in Florida dismissed a lawsuit filed by former president Donald Trump that blamed Hillary Clinton and others for conspiring to malign his character. Trump’s suit accused more than two dozen defendants of orchestrating “a malicious conspiracy to disseminate patently false and injurious information about Donald J. Trump and his campaign, all in the hopes of ...

Bloomberg A Ukrainian counteroffensive appears to be progressing in the north, but less so in the southern Kherson region that has attracted greater attention and Russian reinforcements. Ukrainian officials and Russian military bloggers alike on Thursday described a counteroffensive in the north that has surprised in its speed, the first time since the war began that Ukrainian forces have been ...

  Bloomberg The Bank of Japan (BOJ) said it would boost scheduled bond purchases as the intensifying Treasuries selloff puts upward pressure on global yields and weakens the yen. The BOJ said it would buy 550 billion yen ($3.8 billion) of five-10 year bonds at its regular operations, up from 500 billion yen scheduled. The move comes as Japan’s benchmark ...

  Bloomberg Britain’s lenders will have to write off £31 billion to £41 billion ($35.6 billion to $47.1 billion) of loans over the next three years as the country is hit by a recession, analysts at Credit Suisse Group AG predicted. The estimates are based on an economic contraction of between 1.5% and 4%, Omar Keenan and Alexander Demetriou said ...

  Bloomberg The Bank of Canada laid out key markers it will be watching as it considers how high borrowing costs will need to rise, flagging inflation expectations and underlying momentum of price pressures. In a speech in Calgary, Senior Deputy Governor Carolyn Rogers said policy makers will be closely monitoring how consumption, global supply disruptions and inflation measures evolve ...

  Bloomberg Serbia lifted its benchmark interest rate more than expected to the highest level since early 2018 as the Balkan nation steps up efforts to tame accelerating inflation. The central bank raised its one-week repurchase rate by half a percentage point to 3.5%. Most analysts expected a hike of 25 basis points, with five of 17 correctly predicting the ...

  Bloomberg The Bank of England delayed its next interest-rate decision a week to September 22 to allow a period of mourning after the death of Queen Elizabeth II. The move gives the Monetary Policy Committee more time to consider key inflation and jobs data due to be published next week. It also brings the rate decision closer to the ...