International News

  Bloomberg France’s new government reaffirmed the country’s pledge to lower debt after the Covid-19 pandemic forced President Emmanuel Macron to carry out an unprecedented spending splurge to prevent economy from crashing. “I will be a relentless craftsman in keeping our public accounts in a context that we know is difficult,” Gabriel Attal, France’s new budget minister, said in a ...

  Bloomberg Europe’s two largest economies kept growing in May as they benefited from a sustained rebound in services that offset fallout from Russia’s invasion of Ukraine. The loosening of Covid-19 restrictions in Germany and France supported activity in both countries while factories suffered from surging prices and strained supply chains, according to business surveys by S&P Global. “A post-lockdown ...

  Bloomberg Justin Trudeau’s government has issued a new policy that tries to make internet access less expensive in Canada by changing the rules for companies that own large communications networks. The government has asked the country’s telecommunications regulator to craft new regulations that would force major providers such as BCE Inc and Rogers Communications Inc to sell access to ...

  Bloomberg More Americans are quitting their jobs than ever in the US, and fewer are sticking around in their new positions. Among workers who took a new job in 2021, the share who had been in their previous position for less than 12 months rose by 6.5% compared with a year earlier, data compiled by LinkedIn show. This job-jumping ...

  Bloomberg The gap in inflation experienced by the richest and poorest households in the UK has expanded to its widest level in at least 16 years, according to a report by the Resolution Foundation think-tank. Soaring energy bills as well as higher food costs have sent the UK’s overall inflation rate to a 40-year high of 9%. But headline ...

  Bloomberg Apple Inc is raising salaries for workers in the US by 10% or more as it faces a tight labour market and the spread of unionisation efforts across its retail stores. The Cupertino, California-based company is expanding its overall compensation budget this year, it said in a statement. It will hike minimum hourly pay for its staff to ...

Bloomberg The US must be “strategic” when it comes to a decision on whether to remove China tariffs, Trade Representative Katherine Tai said a day after President Joe Biden mentioned he would review Trump-era levies as consumer prices surge. “With respect to the tariffs, our approach as with everything in this relationship, is to be strategic,” Tai said in an ...

  Bloomberg Oyo Hotels, the once high-flying Indian startup, is shelving plans for an initial public offering in 2022 after a market downturn that would hurt its valuation, according to people familiar with the matter. The board of Oyo, formally known as Oravel Stays Ltd, talked through a change in the offering’s timing during multiple meetings after consulting with its ...

Bloomberg The Samsung group plans to raise spending by more than 30% to 450 trillion won (about $360 billion) over the half-decade to 2026 to shore up businesses from chips to drugs, as South Korea’s conglomerates grapple with growing economic and supply shocks. The corporate giant — whose units from Samsung Electronics Co to Samsung Biologics Co dominate Korea’s economy ...

  Bloomberg SoftBank-backed Indian logistics firm Delhivery Ltd climbed in early trading as investors brushed off rising global risks to support the nation’s second-largest initial public offering of the year in its market debut. The shares rose as much as 12% to 543.95 rupees in Mumbai, versus the issue price of 487 rupees. The company and its shareholders, including Carlyle’s ...