Bloomberg The Bank of Japan (BOJ) in the coming week is widely expected to stick with the negative interest rates that set it apart from the world’s other major central banks. At the decision due on Tuesday, Governor Haruhiko Kuroda will reiterate his out-of-sync stance that monetary stimulus must stay in place to secure lasting inflation. That’s in contrast …
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Wall Street’s crypto FOMO fades as market falls, says Hsu
Bloomberg Wall Street banks’ interest in crypto has significantly fallen off as digital-asset prices have tumbled, according to a top US financial regulator. “A lot of the crypto curiosity went away,†Michael Hsu, acting head of the Office of the Comptroller of the Currency, said in an interview at Bloomberg’s Washington bureau. “I would be astounded if a lot …
Read More »Credit Suisse business model endorsed by SNB 
Bloomberg Swiss National Bank (SNB) President Thomas Jordan has voiced support for Credit Suisse Group AG doing less investment banking, as the lender struggles to recover from billions in losses over the past two years, recent client defections and asset outflows with a strategy revamp. “We appreciate that Credit Suisse is focusing on its strengths,†Jordan told Swiss radio …
Read More »This robot is on a mission to eliminate short car trips
Bloomberg When a six-year-old boy first “woke up†the Gitamini robot, his parents were surprised he didn’t flinch — robots these days tend to be ominous. But as November leaves swirled around the sidewalk meet-cute, the squat personal droid gave a friendly “chirp†and popped up on its two large wheels, ready to follow a new friend. Service robots …
Read More »Twitter to restore more suspended accounts weekly over next 30 days
Bloomberg Twitter has started to restore accounts that were suspended for breaking platform rules and the company plans to reinstate more over the next 30 days. In a series of tweets, Twitter said it had identified several policies where permanent suspension was a “disproportionate†action for breaking rules. The company said reinstated accounts still need to comply with its rules. …
Read More »VW sees growing challenges on inflation, downturn
Bloomberg Volkswagen AG (VW) Chief Financial Officer Arno Antlitz said he expects next year to be “even more challenging†than 2022 as inflation and a worsening economic outlook cut into demand. Antlitz, speaking in a Bloomberg TV interview, said VW will need to improve productivity and lower fixed costs as the carmaker can’t fully pass on soaring raw material …
Read More »Intel delays German chip plant
Bloomberg Intel Corp will delay construction of its German chip plant and is seeking more in government subsidies, Volksstimme reported. The US-based chipmaker earlier this year announced plans for a mega site worth $18 billion in Magdeburg. Construction was set to begin by mid-2023, and the government planned to provide €6.8 billion in state aid. The cost has now …
Read More »Boeing closes in on Max order from Tata group’s Air India
Bloomberg Boeing Co is closing in on an order for as many as 200 of its 737 Max jets from Air India Ltd’s new owner Tata Group as the two sides race to wrap up talks before the year-end holidays, according to people familiar with the matter. The final deal is expected to include 40 to 50 Max aircraft …
Read More »Baggage handlers call off planned strike at London Heathrow
Bloomberg Baggage handlers at London Heathrow airport called off a strike after their union received an improved pay offer from Menzies Aviation. The U-turn means a three-day walkout won’t take place, as the Unite union ballots members on the new offer. Financial details were not disclosed. Unite had said that more than 400 workers at Heathrow Terminals 2, 3 …
Read More »Germany to receive F-35s in 2026 to rejuvenate Air Force
Bloomberg Germany is set to receive the first batch of its F-35 fighter jets in 2026, though the initial eight units will remain stationed in the US for training purposes, creating a tight schedule to build up more advanced air-defense capabilities before the aging Tornado models are retired in 2030. The procurement schedule foresees a handover in tranches, with …
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