International News

  Bloomberg Germany will increase borrowing plans by nearly 40 billion euros ($43 billion) this year to cushion the effect of the war in Ukraine, taking the total for net new debt to almost 140 billion euros, according to three people familiar with the matter. The adjustment is needed to help finance a range of government measures designed to offset ...

  Bloomberg Britain’s inflationary shock combines the worst of America’s problems with the worst of Europe’s and will be harder for policy makers to address than in any other leading industrialised nation, the head of the International Monetary Fund’s European department said. Alfred Kammer, the IMF’s European director, said prices in the UK will remain elevated for longer than other ...

  Bloomberg Sales of previously owned US homes fall in March to the lowest since June 2020 as historically low inventory paired with rising mortgage rates curbed purchases. Contract closings decreased 2.7% in March from the prior month to an annualised 5.77 million, figures from the National Association of Realtors showed. The figure was in line with estimates in a ...

  Bloomberg Billions of dollars in Argentine technology exports are going unreported as companies and freelance workers skirt currency controls, according to an industry group. About $2.2 billion of service exports from the country’s technology sector may go unreported in official data this year, according to Luis Galeazzi, executive director of Argencon, an advocacy group that published its semiannual report ...

  Bloomberg Canadian consumer price inflation shot past expectations in March, jumping to a new three-decade high and cementing expectations the Bank of Canada will continue with aggressive interest rate hikes in coming weeks. Annual inflation rises to 6.7% last month, up from 5.7% in February, Statistics Canada reported in Ottawa. That’s the highest since January 1991 and exceeds the ...

Bloomberg US factory production rose in March by more than forecast, marking the third straight month of gains that show steady progress for manufacturers against a backdrop of gradually improving supply chains. The 0.9% increase followed a 1.2% gain in February, Federal Reserve data showed. Total industrial production, which also includes mining and utility output, also rose 0.9% during the ...

  Bloomberg Developers responsible for building half of the new homes in the UK have committed more than 2 billion pounds ($2.6 billion) to help fix safety issues. So far 35 developers have made commitments to fix issues on buildings that are up to 30-years old, the UK department for Leveling Up, Housing and Communities said in a statement. The ...

  Bloomberg Danish inflation is higher than millennials have ever experienced in their lives. After a decade of price increases clocking in at less than 2% a year, consumers are now having to contend with a whopping 5.4% gain in March from a year earlier — a level not seen since May 1985, when the internet was in its infancy ...

  Bloomberg Spain is set to pare back its economic growth forecast due to the impact of Russia’s invasion of Ukraine, Prime Minister Pedro Sanchez said. “It’s clear that Putin’s war in Ukraine is having an impact not only on the European economy, but also on the the global one, and that there will be a downward revision in the ...

Bloomberg Tesla Inc is calling back its workers in Shanghai to prepare for the initial resumption of production as soon as next week, after a weeks-long suspension because of the city’s strict lockdown to contain the Covid outbreak, people familiar with the matter said. The electric vehicle pioneer told some employees to enter a so-called “closed-loop” production system on April ...