Bloomberg Brazil’s central bank said inflation pressures could persist in the beginning of the year, eventually leading to an interest rate hike, after a report showed consumer prices surged in December by the most since 2003. While reaffirming that a record-low rate of 2% is adequate for now, Monetary Policy Director Bruno Serra said Brazil shouldn’t have such a level …

Bloomberg There are growing signs that Beijing is keen to slow the ascent in China’s currency after it surged to the highest level since mid-2018 against the dollar. The People’s Bank of China set its fixing at 6.4604 per dollar, 0.06% weaker than the average estimate in a Bloomberg survey. The move came after policy makers sent a string of …

Bloomberg Big tech’s decision to ban the Parler app and block outgoing US President Donald Trump is stoking support for alternative social networking sites and apps that bill themselves as promoting free speech and privacy. Facebook Inc. and Twitter Inc. took the strongest action yet to address accusations that their platforms are being used to stoke conspiracy theories, misinformation and …

Bloomberg If you had planned to borrow a BMW M5 for a weekend touring the Grand Ole Opry and Johnny Cash Museum, you’re out of luck. And not just because of Covid-19. BMW has cancelled the subscription service it began in 2018 in Nashville, Tenn. A spokesman for the brand said the $2,000-plus monthly Netflix-for-cars style program would end on …

Bloomberg Apple Inc. has begun early work on an iPhone with a foldable screen, a potential rival to similar devices from Samsung Electronics Co. and others, though it’s planning only minor changes for this year’s iPhone line. The Cupertino, California-based company has developed prototype foldable screens for internal testing, but hasn’t solidified plans to actually launch a foldable iPhone. The …

Bloomberg Facebook Inc.’s planned smart glasses will arrive “sooner than later” in 2021, but won’t feature the kind of digital overlay technology that is associated with augmented reality, according to hardware chief Andrew Bosworth. The glasses, which are being built in partnership with Ray-Ban and parent Luxottica Group, will connect to a device — though users won’t be able to …

Bloomberg BlackBerry Ltd. said it’s settled a dispute with Facebook Inc. over patent royalties for terms that weren’t disclosed. “We have resolved our disputes pursuant to a confidential agreement and have no further comment,” BlackBerry spokeswoman Karen Clyne said in an email. BlackBerry sued Facebook in 2018, claiming the social media giant was using BlackBerry inventions in its popular messaging …

ABU DHABI / WAM The UAE stressed that it is looking forward to the de-escalation of the conflict between Sudan and Ethiopia, noting its concern for the situation in the Al Fasha border area. The UAE also highlighted the key role of both countries in ensuring the stability and prosperity of Africa and the entire region. In its statement, the …

BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Calligo Holdings Limited, an end-to-end managed data services provider, has acquired Network Integrity Services (NIS). Network Integrity Services is a UK-based IT managed services and technology-led solutions provider with locations in Manchester, Birmingham, Leicester and Hemel …

Bloomberg Oil crept higher, with a demand increase from cold weather the latest addition to a rally that has pushed crude to a 10-month high. Demand could get a boost of at least 1 million barrels a day, Goldman Sachs Group Inc said, as frigid temperatures in Asia and Europe sent other energy markets soaring. In Japan, power generators have …