February, 2023

• 19 February

  Abbott faces second FTC probe over baby formula shortage

  

    Bloomberg Abbott Laboratories is facing another probe into its role in last year’s baby formula shortage that left millions of American families scrambling for vital nutrition products. Last month, Abbott received a civil investigative demand from the US Federal Trade Commission seeking information in connection with its probe of companies that participate in bids for formula contracts, according to ...

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• 19 February

  US, South Korea, Japan hold drills after North Korea’s ICBM launch

  

  Bloomberg The US held aerial drills with South Korea and Japan in a show of force a day after North Korea’s intercontinental ballistic missile (ICBM) test, as tit-for-tat military moves added to simmering tensions in the region. South Korea and the US flew B-1B bombers escorted by their fighter jets on Sunday in the joint air drill, the Joint Chiefs ...

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• 19 February

  Beijing wants to meet EU leaders as US ties fray: Official

  

    Bloomberg China and the European Union (EU) should prepare for a meeting of their leaders, Beijing’s top foreign policy official said, a sign of the Asian nation’s efforts to court Europe amid worsening ties with the US. In a meeting on the sidelines of the Munich Security Conference, Wang Yi urged EU counterpart Josep Borrell to help “bring bilateral ...

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• 19 February

  Blinken rebukes China’s top diplomat on balloon, Ukraine

  

  Bloomberg US Secretary of State Antony Blinken warned China’s top diplomat against providing lethal aid to Russia’s invasion of Ukraine and rebuked him over an alleged Chinese spy balloon that heightened tensions between the world’s largest economies. Blinken told Chinese State Councilor Wang Yi in Munich that the US had information China was considering whether to give Russia assistance, possibly ...

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• 19 February

  Macron’s popularity hits 3-year low

  

  Bloomberg French President Emmanuel Macron’s popularity fell to its lowest level in three years, as opposition to his plan to reform the nation’s pension system remains steady. Only 32% of French people say they’re happy with the president, down 2 points from a month ago, according to the Ifop poll published by French newspaper Journal du Dimanche. The last time ...

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• 19 February

  US plans to impose new export controls, sanctions on Russia

    Bloomberg President Joe Biden’s administration is planning to impose new export controls and a fresh round of sanctions on Russia, targeting key industries a year after Vladimir Putin started his invasion of Ukraine. The measures will target Russia’s defense and energy sectors, financial institutions and several individuals, according to people familiar with the matter who spoke on condition of ...

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• 19 February

  Dirty-money rating risks boosting costs for South African lenders

  

    Bloomberg South Africa’s government and state-owned companies will find it harder to borrow money, while banking and asset-management fees may increase if the country is added to a global watchdog’s list of nations with shortcomings in tackling illicit financial flows. The Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will decide whether to include ...

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• 19 February

  Binance considers pulling back from US partners as crypto crackdown escalates

  

    Bloomberg Crypto giant Binance Holdings Ltd is considering ending relationships with US business partners as regulators turn up the heat. The company, which operates the world’s largest crypto exchange, is weighing the retreat after its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the ...

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• 19 February

  Chinese banks to overhaul risk exposure rules to aid rebound

    Bloomberg China plans to adopt more differentiated risk weighting measures to limit banks’ lending to toxic investments that are exposed to higher default threats, including those to problematic house developers. The China Banking and Insurance Regulatory Commission proposed to align its banking prudential regulations to global standards in a draft amendment, and said it would classify all its commercial ...

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• 19 February

  Car touchscreens are going out of control

  

    Bloomberg As recently as 10 years ago, touch screens in cars were tiny — if they were there at all. Most were grudgingly added by automakers in anticipation of a US mandate on backup cameras, or an early response to Elon Musk, who dropped a 17-inch monitor into a Tesla in 2012. Destinations were largely DIY, mapped on a ...

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