The Federal Reserve, the European Central Bank (ECB) and the Bank of England all preside over inflation rates that have surged to quadruple their 2% targets. One of their brethren is highly skeptical of their chances of success in calming price increases. It may turn out that they’ve been lucky rather than good in achieving price stability in recent ...

  Bloomberg India plans to slash the production costs of green hydrogen to $1 a kilogram from $5-$6 currently to encourage industries to use cleaner energy and wants access to cheaper loans to help fund that transition, a senior government official said. The world’s third-largest carbon emitter put out a roadmap in February to become a hub for the production ...

  Bloomberg President Joe Biden’s commerce chief said it “may make sense” to lift tariffs on some goods as a way to tame the hottest inflation in almost four decades. “Steel and aluminum — we’ve decided to keep some of those tariffs because we need to protect American workers and we need to protect our steel industry; it’s a matter ...

Bloomberg Apple Inc supplier BYD plans to begin commercial production of iPads this month in northern Vietnam after a trial run started in May, according to a provincial government official. The production of the tablets is a boost for a country expected to benefit as electronics manufacturers seek alternatives to China. “The factory has been running a trial phase since ...

  Bloomberg Carro, one of Southeast Asia’s biggest online marketplaces for used cars, has agreed to buy a 50% stake in Indonesian automotive financing and rental company MPM Rent for S$75 million ($54.5 million) to expand in the world’s fourth most populous country. The deal will lead to a strategic partnership between Carro and PT Mitra Pinasthika Mustika Tbk, which ...

  Bloomberg Ample rice reserves in India, the world’s biggest exporter of the food staple, and expectations for bountiful monsoon rains should allay concerns about the possibility of any “drastic” measures to curb exports, according to National Commodities Management Services Ltd. Global markets are fretting that rice may be next on the agenda after India restricted wheat and sugar exports. ...

  Bloomberg President Gotabaya Rajapaksa vowed to finish the remaining two years in his term despite monthslong street protests calling for his ouster, but won’t stand for re-election as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis. “I can’t go as a failed president,” Rajapaksa said in a wide-ranging interview at his ...

Bloomberg Boris Johnson will face a leadership vote in his ruling Conservative Party, after a series of missteps and scandals became too much for scores of Tory Members of Parliament. Senior Conservative MP Graham Brady said the threshold of at least 54 MPs — 15% of the Conservative total — has been met to trigger a confidence vote in Johnson, ...

Bloomberg Turkey and Russia have reached a tentative deal to restart shipments of Ukraine’s agricultural products from a key Black Sea port, but Kyiv remains skeptical of the proposed pact, according to people familiar with the discussions. Turkish President Recep Tayyip Erdogan’s government has offered military help to clear mines off the coast of Odesa and escort grain ships but ...

Bloomberg Estonian Prime Minister Kaja Kallas, known for her fierce criticism of Vladimir Putin and his war in Ukraine, is fighting to stay in power after she dismantled her ruling coalition, saying it lacked unity to face the dangers of Russia. Kallas’s best chance lies with clinching a deal with the smallest opposition party in parliament — the conservative Pro ...