Bloomberg China tested a nuclear-capable hypersonic missile that circled the globe before speeding towards its target, the Financial Times reported, citing people familiar with the event. The test in August showed China has made more progress on hypersonic weapons than US officials realised, according to the report, which didn’t identify the people familiar with the test. The missile missed its ...

Bloomberg The murder of a UK lawmaker has focused attention on “Prevent,” a program designed to identify people at risk of becoming radicalised, as well as on how to combat “corrosive” online discourse. UK Home Secretary Priti Patel said on Sunday the counter-terrorism program is undergoing an independent review. The suspect in the deadly stabbing of Conservative MP David Amess ...

Bloomberg Former UK Health Secretary Matt Hancock’s appointment to a United Nations special envoy role has been scrapped. “Mr Hancock’s appointment by the UN Economic Commission for Africa is not being taken forward,” UN spokesperson Stephane Dujarric told PassBlue, a news website that specialises in UN coverage, adding “ECA has advised him of the matter.” In an appointment letter to ...

Bloomberg President Joe Biden said he’d like to see his economic plan address a “whole range of issues,” even if funding for individual provisions must be pared back or timed to expire to keep the legislation’s cost down. “The question is how much of what is important can we get in the legislation,” Biden told reporters in Connecticut, after earlier ...

Bloomberg Elon Musk made a surprise appearance at a Volkswagen AG conference, addressing 200 executives of one of his biggest competitors about the German company’s pivot to electric vehicles, his management style, and supply chain and production issues. In a rare move by a corporate titan addressing a competitor, Tesla Inc’s chief executive officer spoke in the video conference at ...

Bloomberg Switzerland will warn major industrial users they could be forced to save electricity this winter in a bid to avoid large-scale blackouts, NZZ am Sonntag reported. About 30,000 companies that each consume more than 100,000 kilowatt hours per year are being sent a letter from Ostral, the crisis-management organisation for the sector. They could be asked to reduce consumption ...

Bloomberg Cost pressures, supply-chain chaos and a reopening letdown are set to plague Europe’s third-quarter earnings season, setting investors up for more disappointment than elation. While strong numbers from behemoths like LVMH and SAP SE reassured European stock investors last week, further good news may be needed to keep the rally alive. Rising inflation and a stalling global recovery pose ...

Bloomberg The photo-sharing app Instagram spent time focusing on how to retain and engage teenagers, New York Times reported, citing internal documents. Facebook Inc-owned Instagram was privately worried potentially losing teenage users to other social-media platforms, calling it an “existential threat,” according to a marketing presentation for 2018, the year it reached one billion users, the paper reported . Separately, ...

Bloomberg AstraZeneca Plc won a federal court ruling upholding a key patent for its diabetes drug Farxiga, staving off threats from cheaper versions. A trial without a jury in May centered on the validity of a patent that covers Farxiga’s active ingredient, dapagliflozin, its combination with a carrier and methods of treatment. Zydus Cadila conceded infringement before the trial, a ...

Bloomberg Another time-honoured axiom is being put to the test in the post-pandemic stock market, the one that says don’t fight the Federal Reserve. Last week, anyway, optimism around everything from corporate earnings to Covid-19 counts and seasonal market trends put a muzzle on central bank-obsessed skeptics. The S&P 500 shook off the gloom of the last month to post ...