Bloomberg Supermarket shoppers in Britain are increasingly opting for own-brand labels in a bid to save pennies on groceries. J Sainsbury Plc is seeing some customers switch into economy own-label goods and rival Tesco Plc said last month that clients are moving to store-brand versions of bread, pasta and beans. Households could save $649 a year by switching from ...

Bloomberg Boris Johnson could face a leadership challenge as soon as next week as rank-and-file Conservative MPs meet Wednesday to discuss whether to allow a fresh confidence vote. Members of the Tory 1922 Committee will meet at 5 p.m. to discuss Johnson, a person familiar with the matter said. If there is a majority in favor of another confidence vote, ...

Bloomberg Russian authorities are pushing through a raft of new repressive measures against domestic opponents, expanding crackdowns on critics as the Kremlin’s war in Ukraine is in its fifth month. Legislators have approved new proposals to dramatically broaden treason statutes, as well as restrictions on “foreign agents,” a legal category that’s been used widely against critics and independent journalists. Another ...

Bloomberg US Secretary of State Antony Blinken will have a candid discussion about the war in Ukraine with his Chinese counterpart Wang Yi during a summit in Indonesia that’s set to be dominated by the fallout from Russia’s invasion, a top official said. “We’ve had a number of communications at senior levels with our Chinese counterparts about what we expect, ...

  Bloomberg China’s central bank looks set to withdraw cash from its financial system in a sign that it’s moving towards normalising monetary policy as major global peers are forcefully raising interest rates. The People’s Bank of China (PBOC) slashed its daily short-term liquidity operation to 3 billion yuan ($447 million) this week, the smallest amount since January 2021. At ...

  Bloomberg The Bank of England (BOE) said a $2 trillion plunge in the value of cryptoassets underscores vulnerabilities in the market and the need for tougher law enforcement and regulation. The market capitalisation of digital assets has tumbled to about $900 billion from a peak of almost $3 trillion in late 2021, the BOE’s Financial Policy Committee said. The ...

  Bloomberg Inflation forecasting errors may have risen in India due to climate change, impacting food as well as fuel inflation, and that may require more rate hikes from the central bank to anchor prices, according to HSBC Holdings Plc. “Although inflation in India has always been susceptible to supply shocks, climate change-induced surprises are making it more volatile and ...

  Bloomberg Australia and New Zealand Banking group Ltd (ANZ) is weighing reviving a stake sale in PT Bank Pan Indonesia, according to people with knowledge of the matter. ANZ has started preliminary talks with interested parties including other banks and tycoons in Indonesia, said the people, who asked not to be identified as the process is private. Shares of ...

  Bloomberg Credit Suisse Group AG is cutting more than two dozen front line roles at the investment bank in Asia as the Swiss lender grapples with losses and a weakening outlook for the global economy, people familiar with the matter said. The reductions in recent weeks fell across businesses including deal-making and trading, the people said, asking not to ...

  Bloomberg HSBC Holdings Plc is in talks to sell its Russia unit to local lender Expobank, according to two people with knowledge of the discussions. A deal would mark another exit of an international lender after the Kremlin-ordered invasion of Ukraine. Societe Generale SA agreed to sell its Rosbank PJSC unit to the investment firm of Russia’s richest man, ...