Bloomberg Venezuela’s annual inflation rate will surge to 1.37 million percent by the end of the year as the government fails to cover a widening budget shortfall by printing money, according to a report from the International Monetary Fund published on Tuesday. That estimate from the latest IMF World Economic Outlook is up from the forecast of 1 million percent ...

Bloomberg UK workers will have to wait until the end of the century to see real wages doubling if the current pace of pay growth continues, according to the Resolution Foundation. Nominal pay growth has risen by an average of 2.2 percent since 2014, about half the 4 percent pace before the financial crisis of 2008, the Resolution Foundation said ...

Bloomberg Alphabet Inc.’s Google has decided not to compete for the Pentagon’s cloud-computing contract valued at as much as $10 billion, saying the project may conflict with its corporate values. The project, known as the Joint Enterprise Defense Infrastructure cloud, or JEDI, involves transitioning massive amounts of Defense Department data to a commercially operated cloud system. Companies are due to ...

Bloomberg Royal Mail Plc broke below its initial public offering price to mark a significant political moment five years after a share sale that British lawmakers said shortchanged the public. The stock fell as much as 4.9 percent to touch a record-low 321.8 pence in early London trading, below the 330 pence at which the 500-year-old postal service was sold ...

Bloomberg Microsoft Corp. will invest an unspecified amount in Grab as the ride-hailing giant adopts the US company’s Azure as its preferred platform for cloud services. Under the five-year deal, the companies will collaborate on technologies including big data, artificial intelligence and connected car platforms. Grab counts Amazon Web Services among its existing cloud suppliers and has worked in the ...

Bloomberg Secretary of State Michael Pompeo flew to Asia to shore up a weakening sanctions regime on North Korea, nail down a date for a future summit between Donald Trump and Kim Jong-un and assuage Chinese officials days after Vice President Mike Pence lambasted their country. Things didn’t go as planned. Instead, Pompeo found himself facing the limits of his ...

Bloomberg Nikki Haley will leave her job as US ambassador to the United Nations at the end of the year, President Donald Trump said at the White House on Tuesday. Trump said Haley told him six months ago she wanted a break after spending two years in the post. “She’s done a fantastic job and we’ve done a fantastic job ...

Bloomberg Emmanuel Macron is keeping France in the dark about how extensive a cabinet overhaul he’s planning to give a new impulse to his presidency. Prime Minister Edouard Philippe spent almost two hours meeting with President Macron on Tuesday morning, with no announcement made afterwards. Philippe had been expected to tender his gove- rnment’s resignation, with the list of new ...

Bloomberg The Republic of Macedonia’s government moved forward towards changing the name of the country to clear the path to membership in NATO and the European Union, despite vows from the opposition nationalists that they’ll bloc the switch. The former Yugoslav state is at the center of the struggle between Russia and the West for sway over Europe’s most volatile ...

Bloomberg France’s European Affairs Minister Nathalie Loiseau accused nationalist leaders of being in thrall to the US and Russia, as she sought to turn the tide on the populist wave surging across Europe. Loiseau cited former White House strategist Steve Bannon as she suggested that Europe’s nationalists are open to undue foreign influence, saying they “have found their masters in ...