Bloomberg Former White House trade adviser Peter Navarro was warned he’ll be considered in “willful noncompliance” with a Congressional subpoena if he fails to testify to a House panel investigating the Trump administration’s response to the Covid-19 pandemic. Representative James Clyburn, the committee’s chairman, didn’t specify possible consequences in a letter to Navarro. Navarro told the panel in a ...

    Bloomberg UK business groups called for government support after Prime Minister Boris Johnson announced restrictions to curb the spread of the omicron variant, which Bloomberg Economics estimates could cost the economy as much as 2 billion pounds ($2.6 billion) a month. In remarks following Johnson’s televised address to the nation, business groups said the measures, which include advice ...

  Bloomberg Spanish inflation accelerated to the fastest in nearly three decades in November on rising food prices, underscoring the lingering consequences of supply-chain bottlenecks across Europe. Consumer prices jumped 5.6%, national data showed — the highest since September 1992. The European Union-harmonised measure also came in at that level, matching the median forecast in a Bloomberg survey. A national ...

  Bloomberg General Electric Co said it now expects to buy back $25 billion of bonds, expanding one of the biggest debt repurchases ever, after finding strong demand from investors to sell the securities. Investors have so far offered to sell about $33 billion of bonds to the company, GE said in a statement. GE had sought to buy back ...

  Bloomberg US consumer prices rises last month at the fastest annual pace in nearly 40 years, underscoring how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy. The consumer price index (CPI) climbed 6.8% from November 2020, according to Labour Department data. The widely followed inflation gauge rises 0.8% from ...

  Bloomberg Rivian Automotive Inc, the electric truck start-up valued at more than $100 billion, is planning to announce that it will build a vehicle-assembly and battery plant in Georgia, according to people familiar with the matter. The Irvine, California-based automaker, which had also considered competing sites in Texas and Arizona, is expected to reveal the plans at an event, ...

Bloomberg General Motors Co plans to build its third US battery plant with partner LG Chem Ltd. in Michigan and will commit its Orion assembly plant to electric vehicles, a person familiar with the matter said. The Detroit automaker has applied for tax abatements for projects in both Orion Township and outside Lansing, Michigan, said the person, who put the ...

Bloomberg What do Asia’s five best-performing $1 billion-plus equity funds for 2021 have in common? They are all betting big on China’s renewables push. The funds returned at least 40% each by investing in stocks that are part of renewables and electric-vehicle supply chains, according to data compiled by Bloomberg. The $3.7 billion China AMC Energy Innovation Equity Fund led ...

Bloomberg Goldman Sachs Group Inc strategists said there’s little reason to expect a major retreat in US stocks in the months ahead, even as the breadth of the rally that has pushed the S&P 500 index into successive records is getting increasingly narrow. Just five stocks account for 51% of the US benchmark’s returns since April, Goldman’s strategists led by ...

Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, on Saturday issued Law No. 21 of 2021, establishing the Dubai Council to outline and deliver the emirate’s future development agenda with a view to boosting its leading edge competitiveness and leadership regionally and internationally, and ...