Bloomberg New Zealand Prime Minister Jacinda Ardern plans to attend the Pacific Islands Forum Leaders’ Meeting in Fiji this week, just days after the head of state called for more regional co-operation to counter China and amid reports one island member has withdrawn on the conference’s eve. Ardern will go to Fiji from Tuesday to Thursday where she plans ...

Bloomberg Risks are skewed towards the Australian dollar declining even further in 2022 after touching a two-year low this month amid concerns over slowing economic growth. Commonwealth Bank of Australia sees the currency declining to 65 cents versus the greenback by December, from about 68.6 cents last week. Leveraged funds, which were betting on gains as recently as May, are ...

  Bloomberg European Central Bank (ECB) Governing Council member Yannis Stournaras said a new tool to keep debt-market turmoil at bay as interest rates rise may not need to be used if it’s powerful enough to persuade investors not to test it. In a Bloomberg Television interview in Aix-en-Provence, France, Stournaras said there’s a “very good debate” under way on ...

Bloomberg Credit Suisse group is losing four traders from its high-yield and distressed-debt desks just as interest-rate hikes, inflation and volatile markets heighten the need for such expertise. The traders will join British lender Barclays Plc in New York as it beefs up its own credit desks, according to people with knowledge of the moves. Three of those departing are ...

Bloomberg In June, the electric bike startup Joco, which rents e-bikes to food delivery workers and other couriers in New York City and Chicago, began testing a new vehicle called the Deliverator. Made in Eugene, Oregon by Arcimoto Inc, the Deliverator is an electric three-wheeler with a “reverse-tricycle” configuration—two wheels in the front and one in the back—that makes it ...

  Bloomberg Billionaire Elon Musk issued a humorous late-night response to Twitter Inc.’s preparations to sue and force him to complete a $44 billion takeover of the company. Eschewing any words of his own, the Tesla Inc. and SpaceX chief posted a meme late Sunday featuring images of himself laughing with captions recounting one version of events over the past ...

Bloomberg Samsung Electronics Co. kicked off mass production of 3-nanometer chips that are more powerful and efficient than predecessors, beating rival Taiwan Semiconductor Manufacturing Co. to a key milestone in the race to build the most advanced chips in the world. South Korea’s largest company will begin with 3nm semiconductors for high-performance and specialized low-power computing applications before expanding to ...

  Bloomberg Netflix Inc’s co-chief executive officer is blaming a recent slowdown at the streaming service on multiple factors including inflation’s impact on household budgets, a decline in smart TV sales due to supply chain constraints, and its departure from Russia. “Every customer is asking the question of value of a subscription in relation to its cost,” Ted Sarandos said ...

  Abu Dhabi / Gulf Time The Abu Dhabi Department of Energy (DoE) signed a five-year memorandum of understanding (MoU) with the Ministry of Mines and Energy of Colombia at an event at the DoE’s headquarters in the UAE capital. The agreement aims to explore opportunities for collaboration on capability development and sharing of knowledge and information, supporting joint projects ...

  MINA / WAM The Saudi government departments and authorities responsible for Hajj season 2022 completed their preparations to receive one million pilgrims in Mina to spend Tarwiyah (watering) Day. According to the Saudi Press Agency (SPA), the Ministry of Hajj has completed its operational plan for this year’s Hajj season. Meanwhile, the Commands of the Hajj Security Forces have ...