The gathering tsunami of soaring energy costs finally forced Germany to act to quiet the grousing from the rest of the European Union. Chancellor Olaf Scholz is ready to drop his opposition to joint borrowing at the EU level to cushion the blow of the crisis, Bloomberg News reports. While this doesn’t look like a “Hamiltonian leap” toward federalized ...

  Last week was cruel for traders and investors who were hoping that financial markets would leave behind what has been a painful triple whammy this year caused by tightening financial conditions. After a strong bounce in both stocks and bonds early in the week offered some hope, the markets yanked it back, essentially erasing investors’ gains as investment portfolios ...

  A new set of restrictions on Chinese access to US semiconductor technology may arguably have commercial and geopolitical merit, but the timing couldn’t be worse. Shares of chip-industry leaders from Lam Research Corp. to Taiwan Semiconductor Manufacturing Co. plunged across the globe after the Biden administration announced stricter rules. These new measures are a natural evolution of Washington tightening ...

  Bloomberg Holiday deals are coming back, bringing a measure of relief for US shoppers squeezed by inflation. Tech gadgets to sporting goods will see “massive” online discounts, with the best bargains likely in late November, Adobe Analytics said in a report. Walmart Inc is already touting deals on computers, toys and air fryers this week, while Amazon.com Inc will ...

  Bloomberg A wheel fell off a giant Boeing Co. cargo jet and plunged to the ground shortly after the aircraft took off from Taranto in southern Italy on Tuesday morning. A video posted on Twitter showed a plume of black smoke suddenly spit out from the 747-400 Dreamlifter’s undercarriage and a wheel like a giant bowling ball flying to ...

  Bloomberg India’s expected surge of rich consumers is driving the jewellery unit of Indian conglomerate Tata group to triple its Zoya-branded luxury stores by 2027. “There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of the jewellery division at Titan Co., said in ...

  Bloomberg E-commerce stocks have struggled this year, and plenty of investors are doubtful the holiday shopping season will provide a catalyst to turn things around. Online retailers such as Wayfair Inc. and Etsy Inc already are under pressure from the loss of pandemic-era tailwinds and economic weakness weighing on consumer sentiment. Now, some analysts are fretting that high inventories ...

  Bloomberg Britons took action to curtail their energy use this winter by buying blankets, warm clothing and energy-efficient appliances in response to soaring gas and electricity prices. That’s according to the latest sales survey from the British Retail Consortium, which also found consumers cut back on big-ticket items such as computers, televisions and furniture last month. The overall value ...

  Bloomberg Deliveroo Plc is opening its first physical grocery outlet in the UK on central London’s New Oxford Street in an expansion of its rapid delivery service. Customers will be able to purchase items by ordering through digital kiosks in the store, ordering ahead via the Deliveroo app for in-store collection or for delivery nearby. The new effort from ...

Bloomberg President Joe Biden said the US has gamed out responses if Russian President Vladimir Putin uses a nuclear weapon in Ukraine. “The Pentagon didn’t have to be asked,” Biden said in an interview Tuesday with CNN, in response to a question about whether he’d directed the Defense Department to come up with contingencies. The president declined to elaborate on ...