Bloomberg President Emmanuel Macron’s bid to clinch a coalition agreement in French parliament by next week looks increasingly unlikely. The legislative trouncing earlier this month means Macron will have to build alliances to pass legislation, a situation not seen in France since 1958. But at the Matignon palace in Paris where premier Elisabeth Borne has been meeting party representatives ...

Bloomberg President Xi Jinping is set to finally leave mainland China after 893 days at home, even as he still trumpets a Covid Zero policy that has isolated the world’s No. 2 economy diplomatically amid rising geopolitical tensions. The Chinese leader will nip across the border to neighboring Hong Kong on Thursday and Friday, according to local media, for events ...

  Bloomberg The US merchandise-trade deficit narrowed in May to its smallest this year as exports rose to a record, suggesting a tailwind for economic growth in the second quarter. The shortfall shrank 2.2% to $104.3 billion last month, Commerce Department data showed. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $104.8 ...

  Bloomberg Britain’s 2022 university graduates will compete for jobs with salaries 7% higher than their equivalents last year, although each one will still have to fight off 35 other applicants to secure the role. Advertised graduate salaries have risen to a six-year high of £26,076 ($32,000) this summer, research from the job search site Adzuna showed. The number of ...

  Bloomberg Tesla Inc laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter. Most of the roughly 200 people let go were hourly workers, the people said late Tuesday, a surprise given that Tesla previously disclosed headcount reductions targeted at salaried positions. As recently as ...

  Bloomberg Spanish inflation unexpectedly surged to a record, defying government efforts to rein it in and signalling intensifying price pressure as the European Central Bank (ECB) gears up to raise interest rates for the first time in more than a decade. The surprise 10% reading for June dashes hopes that inflation in the euro zone’s fourth-biggest economy had peaked ...

  Bloomberg Novartis AG will cut as many as 8,000 jobs under a plan to save at least $1 billion by 2024 and boost the pharmaceutical giant’s performance. The Swiss company detailed the cuts, equal to more than 7% of its global workforce after outlining the restructuring in April. Among other things, Novartis plans to generate savings by combining its ...

  Bloomberg BYD Co, the Chinese electric vehicle maker backed by Warren Buffett, is on the cusp of entering the trillion-yuan-market-cap club as its production resilience and the government’s consumption incentives helped spur a rally. Shares of the Shenzhen-based company have surged 66% since a March low through, which pushed its market valuation to around $142 billion. Further gains will ...

  Bloomberg Stocks dropped on Wednesday on renewed worries about economic growth as monetary policy tightens in much of the world to fight inflation. European equities fall for the first time in four days with sentiment hurt by China remaining committed to its zero-Covid-19 approach. US contracts steadied after a tech-led slide hurt the S&P 500. The yield on German ...

  Abu Dhabi / WAM A new partnership was announced on Tuesday between Strata Manufacturing, a UAE-based Digital Factory pioneer, Hyperganic, an AI-based engineering platform company with offices in Germany and Singapore, and German industrial 3D printing company EOS to build the world’s most energy-efficient residential air conditioner (A/C) system. The partnership is a result of the Ministry of Industry ...