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Blinken rebukes China’s top diplomat on balloon, Ukraine

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Bloomberg US Secretary of State Antony Blinken warned China’s top diplomat against providing lethal aid to Russia’s invasion of Ukraine and rebuked him over an alleged Chinese spy balloon that heightened tensions between the world’s largest economies. Blinken told Chinese State Councilor Wang Yi in Munich that the US had information China was considering whether to give Russia assistance, possibly ...

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Macron’s popularity hits 3-year low

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Bloomberg French President Emmanuel Macron’s popularity fell to its lowest level in three years, as opposition to his plan to reform the nation’s pension system remains steady. Only 32% of French people say they’re happy with the president, down 2 points from a month ago, according to the Ifop poll published by French newspaper Journal du Dimanche. The last time ...

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US plans to impose new export controls, sanctions on Russia

  Bloomberg President Joe Biden’s administration is planning to impose new export controls and a fresh round of sanctions on Russia, targeting key industries a year after Vladimir Putin started his invasion of Ukraine. The measures will target Russia’s defense and energy sectors, financial institutions and several individuals, according to people familiar with the matter who spoke on condition of ...

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Dirty-money rating risks boosting costs for South African lenders

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  Bloomberg South Africa’s government and state-owned companies will find it harder to borrow money, while banking and asset-management fees may increase if the country is added to a global watchdog’s list of nations with shortcomings in tackling illicit financial flows. The Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will decide whether to include ...

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Binance considers pulling back from US partners as crypto crackdown escalates

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  Bloomberg Crypto giant Binance Holdings Ltd is considering ending relationships with US business partners as regulators turn up the heat. The company, which operates the world’s largest crypto exchange, is weighing the retreat after its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the ...

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Chinese banks to overhaul risk exposure rules to aid rebound

  Bloomberg China plans to adopt more differentiated risk weighting measures to limit banks’ lending to toxic investments that are exposed to higher default threats, including those to problematic house developers. The China Banking and Insurance Regulatory Commission proposed to align its banking prudential regulations to global standards in a draft amendment, and said it would classify all its commercial ...

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Car touchscreens are going out of control

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  Bloomberg As recently as 10 years ago, touch screens in cars were tiny — if they were there at all. Most were grudgingly added by automakers in anticipation of a US mandate on backup cameras, or an early response to Elon Musk, who dropped a 17-inch monitor into a Tesla in 2012. Destinations were largely DIY, mapped on a ...

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Google’s $168bn in online ad business at risk in court case

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  Bloomberg The US Supreme Court is poised to hear a case that could spell danger for the internet’s most lucrative business: online advertising. The case, Gonzalez v. Google, will be argued on Tuesday and centers on whether internet companies are liable for the content their algorithms recommend to users. The tech industry says it’s protected by a legal shield ...

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Tesla recalls 362,000 cars over crash risk

  Bloomberg Tesla Inc. is recalling hundreds of thousands of vehicles after US authorities said its automated-driving technology could increase the risk of a crash. The automaker’s so-called Full Self-Driving Beta system “may allow the vehicle to act unsafe around intersections,” including travelling straight through from a turn lane and proceeding through steady-yellow traffic lights, according to a filing with ...

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