February, 2023

• 9 February

  Boeing plans to slash 2,000 jobs

    Bloomberg Boeing Co. plans to trim about 2,000 finance and human resources jobs, part of an initiative to slim its corporate structure while bolstering the manufacturing workforce. The reductions will take place companywide and will be accomplished through layoffs and attrition, Boeing said in an emailed statement. Potentially affected workers haven’t yet been told if they will lose their ...

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• 8 February

  Zelenskiy hails UK support ahead of Russian offensive

  

  Bloomberg Ukrainian President Volodymyr Zelenskiy made a surprise visit to the UK, only his second confirmed trip outside the country since the war began, as Prime Minister Rishi Sunak announced more training for Ukrainian troops and new help for fighter jet pilots. Zelenskiy arrived on a Royal Air Force plane before heading into London to meet Sunak in Downing Street ...

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• 8 February

  Biden taunts Xi days after shooting down Chinese balloon

  

  Bloomberg US President Joe Biden taunted Xi Jinping in his State of the Union address, saying autocracies had grown weaker around the world and no one would want the Chinese leader’s job. “Name me a world leader who’d change places with Xi Jinping,” Biden shouted, departing from his prepared text Tuesday night as he waved a finger. “Name me one, ...

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• 8 February

  Xi woos Taiwan opposition ahead of pivotal presidential vote

  

  Bloomberg Chinese leader Xi Jinping appears to be recalibrating his hardline approach to Taiwan in the year before the island holds a presidential election that his government’s preferred negotiating partner has a shot at winning. Kuomintang Vice Chairman Andrew Hsia is expected to visit China on Wednesday, the latest in a series of friendly gestures between the one-time foes in ...

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• 8 February

  South Korea partisan rift widens with vote to impeach minister

  

  Bloomberg South Korea’s progressive opposition bloc used its majority in parliament to approve an unprecedented impeachment measure against the interior minister, heating up partisan tensions as worries mount about the country falling into recession. The Democratic Party and small groups passed the measure Wednesday to impeach Lee Sang-min, making him the first cabinet minister in the country’s history to be ...

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• 8 February

  SocGen misses own payout promise in CEO’s final year

  

  Bloomberg Societe Generale SA fell short of a pledge to pay out half of its underlying profit to shareholders, even after its fixed-income traders handed Chief Executive Officer (CEO) Frederic Oudea a bigger-than-expected profit. Revenue from buying and selling fixed-income products and currencies jumped 56% in the fourth quarter, beating analysts’ estimates as well as all main rivals so far. ...

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• 8 February

  ABN Amro announces $536 million buyback

  

    Bloomberg ABN Amro Bank NV reported fourth-quarter profit that beat analysts’ expectations as the Dutch lender restrained costs and announced a $536 million share buyback. Net income of €354 million in the three months through December compared with expectations for profit of €55.1 million, with the result aided by a combination of lower loss provisions and operating expenses, according ...

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• 8 February

  BNP Paribas plans $5.4b of buybacks after US unit sale

  

    Bloomberg BNP Paribas SA plans to buy back €5 billion ($5.4 billion) of shares after the sale of its US unit, and raised its profitability targets as traders posted a quarter that beat many Wall Street peers. The Paris-based bank is set to distribute about €4 billion related to the sale of Bank of the West and €962 million ...

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• 8 February

  India raises cost of borrowing to 6.5%

    Bloomberg India’s central bank (RBI) slowed the pace of interest-rate increases while keeping the door open for further policy tightening to curb core inflation. The RBI’s six-member Monetary Policy Committee voted 4-2 to raise benchmark repurchase rate by a widely expected quarter-point to 6.50%, slowing from the 35 basis-point hike in December. The panel also retained its stance of withdrawing ...

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• 8 February

  US futures retreat, stocks advance; oil extends gain

  

    Bloomberg US futures retreat amid mixed earnings reports, while stocks caught up with late advances on Wall Street spurred by a sanguine rates outlook. Oil extended an advance. Contracts on the three major US gauges fell, following Tuesday’s rally after Federal Reserve Chair Jerome Powell refrained from pushing back against investor optimism. Chipotle Mexican Grill Inc. dropped in premarket ...

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