Bloomberg A Bank of England (BOE) interest-rate increase would hurt a fifth of existing mortgage holders, heaping misery on households already struggling with higher food and fuel costs. More than 21% of outstanding residential mortgages in the UK have variable interest rates, meaning the cost of repayments changes when the benchmark lending rate changes, according to data through June from ...

Bloomberg Persistent inflation could trigger more spells when bonds and equities move in tandem, according to JPMorgan Chase & Co analysts, posing a headache for investors who use fixed-income securities to shelter some of their portfolios from stock-market drops. The bond-market selloff in September coincided with the S&P 500 shedding 4.8%, a lockstep move that battered multi-asset investors. A basket ...

Bloomberg Peru tightened monetary policy for a third straight month after inflation surged to its highest rate in 12 years and political volatility roiled the currency. The central bank lifted its benchmark rate half a percentage point, to 1.5%, matching the median forecast of economists surveyed by Bloomberg. It was the third consecutive rate hike by the bank led by ...

Bloomberg Thousands of users of Facebook Inc’s main social network and Instagram photo-sharing app reported having trouble accessing the services for a short stretch midday, the second time in a week they were out of reach for a wide swath of people. More than an hour after apologising for the outages, Instagram said on Twitter that the situation was resolved. ...

Bloomberg Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that’s bedeviled automakers for years could rupture into metal fragments and strike drivers. The Swedish carmaker told the US National Highway Traffic Safety Administration (NHTSA) it has identified potential for tablets of propellant in its vehicles’ air-bag inflators to decay if they’re subject to ...

Bloomberg Nissan Motor Co is planning to spend more than 130 billion yen ($1.2 billion) implementing new technologies that will make its global factories more efficient, less polluting and ready to produce next-generation cars such as electric vehicles. As part of its “Intelligent Factory Initiative,” Nissan has spent about 33 billion yen over the past two years installing advanced equipment ...

Bloomberg Automakers logged their weakest September sales in the UK since 1998 as the global shortage of semiconductors constrains production. Registrations plunged more than a third from a year ago to 215,312 cars, according to the Society of Motor Manufacturers and Traders. It’s a significant blow to the industry because September is typically the market’s second-busiest month of the year. ...

DUBAI / WAM The Dubai Airport Freezone Authority (Dafza) announced that its contribution to Dubai’s non-oil foreign trade for the first half of 2021 reached 11 percent. H1 trade in the free zone grew 34 percent from the same period last year to reach AED77 billion, with a trade surplus of AED6.2 billion. Imports recorded a growth of 44.5 percent ...

ABU DHABI / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a resolution to grant federal government employees a six-day special paid leave to enable them and their families to visit Expo 2020 Dubai. The six-day leave can be used ...

Emirates Business AD Ports Group, a leading facilitator of trade and logistics, has signed a new partnership deal with Aurora50, a social enterprise focusing on achieving gender-balanced boardrooms in UAE. Through the new partnership, AD Ports Group and Aurora50 aim to create a more inclusive, integrated workplace environment with a new purpose-driven programme, Glow (Gain Leadership Opportunities for Women). The ...