Bloomberg The coronavirus pandemic, marked by an ambitious vaccine rollout, has cost the UK government an estimated £376 billion ($459 billion). The figure released by the National Audit Office has increased by £6 billion over the last ten months, with much of the expense going to support train traffic even as the passenger numbers dwindled. The amount — more ...

  Bloomberg Consumer price inflation accelerated to a four-decade high, adding pressure on the Bank of Canada to deliver more aggressive interest rate hikes in the coming weeks. Annual inflation rose to 7.7% last month, up from 6.8% in April, Statistics Canada reported in Ottawa. That’s the highest since January 1983 and well above economist expectations for a 7.3% increase. ...

  Bloomberg New York’s biggest mall has reached a deal with lenders to avoid a default after the pandemic and years of retail turmoil left it deeply underwater on its mortgages. Destiny USA, a 2.4 million-square-foot (223,000-square-meter) shopping center in Syracuse, owed $430 million on two mortgage-backed securities that missed a June 6 repayment deadline. The mall’s owner, Pyramid Management ...

  Bloomberg Euro area economic expansion slowed sharply as surging prices curbed the rebound from pandemic restrictions and factories continued to suffer from supply snarls. An indicator for economic activity by S&P Global falls to a 16-month low in June, driven by rampant inflation, concerns over energy and rising borrowing costs. While the overall gauge still signals modest expansion, manufacturing ...

Bloomberg German business confidence unexpectedly deteriorated on mounting fears over energy supplies from Russia that are raising the prospect of a recession in Europe’s biggest economy. A gauge of expectations by the Munich-based Ifo Institute fell to 85.8 in June from 86.9 in May, defying analyst predictions that two months of gains would continue. An index of current conditions edged ...

  Bloomberg Global equity funds saw their biggest outflows in nine weeks as investors piled into cash amid fears that the US economy could be headed for a recession. About $16.8 billion exited global stock funds in the week through June 22, with US equities seeing their first outflow in seven weeks at $17.4 billion, Bank of America Corp (BofA) ...

Bloomberg After what is poised to be the worst first half since 2008 for European equities, strategists are optimistic that at least some of the losses will be clawed back by the end of the year. The Stoxx Europe 600 Index will end December at 467 index points, according to the average of 15 forecasts in Bloomberg’s monthly survey. That ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) on Thursday announced that Abu Dhabi National Energy (Taqa) PJSC has made a secondary listing on the ADX of nine bonds with a total value of $8.25 billion, maturing between 2023 and 2051. The bonds were largely issued as part of Taqa’s Global Medium Term Note Programme and are ...

  ABU DHABI / WAM The Federal Government of the UAE, represented by the Ministry of Finance, has announced the plan to issue a Dual-tranche USD Benchmark Size Bonds with a ten-year tranche and a 30-year Formosa tranche. The ten-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on ...

  Dubai / WAM The Romanian government has signed an agreement with Dubai’s Ports, Customs and Free Zone Corporation (PCFC) and DP World to develop new infrastructure at the Port of Constanta. The agreement with the Dubai entities will help modernise and turn the Port of Constanta into one of the Black Sea’s most important cargo and vehicle hubs. The ...