February, 2023

• 4 February

  President Lula says Brazil needs more tools to fight rising inflation

  

  Bloomberg Brazil President Luiz Inacio Lula da Silva defended the use of additional tools besides interest rates to rein in inflation, including a more active policy to reduce foreign exchange volatility and the regulation of fuel prices and food stocks. In a 180-page message to lawmakers on Thursday, Lula blamed his predecessor Jair Bolsonaro for abandoning the use of “important ...

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• 4 February

  Italy to study KKR’s offer for Telecom Italia

    Bloomberg Italy will “study the details” of KKR & Co’s offer for Telecom Italia SpA, Economy and Finance Minister Giancarlo Giorgetti said. The government, which is stakeholer of the belaguered phone carrier, will “evaluate the offer when it has full information on it” Giorgetti said Friday in Rome, according to Ansa newswire. The minister reiterated that the government’s goal ...

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• 4 February

  Tesla expected to announce Mexico project soon, Ebrard says

  

  Bloomberg Tesla Inc. is expected to announce an investment in Mexico very soon as the country works to expand infrastructure and renewable energy supply to take advantage of a boom in companies relocating, Foreign Affairs Minister Marcelo Ebrard said. The Mexican government has been working with the carmaker led by billionaire Elon Musk to help it find a location to ...

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• 4 February

  China spy balloon over US adds to tensions ahead of key talks

  

  Bloomberg The Pentagon is tracking what it said was a Chinese surveillance balloon over sensitive nuclear sites in the western US, an incident that injected new strain into relations before a planned Beijing visit by Secretary of State Antony Blinken. The balloon was first spotted earlier this week and had been loitering over Montana, where Minuteman III intercontinental-ballistic-missile silos are ...

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• 4 February

  Czech incoming president warns against caps on Ukraine arms

  

  Bloomberg The Czech Republic’s incoming president said the only limit to weapons deliveries to Ukraine should be nuclear arms, signaling support for sending fighter jets as he expressed confidence that Ukrainian forces can defeat Russia. Petr Pavel, a retired top Nato general who takes office March 9, also said President Vladimir Putin’s government isn’t the only one to possess nuclear ...

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• 4 February

  Modi government officials opt for silence over Adani stock rout

  

  Bloomberg The Adani Group’s $120 billion loss in market value after Hindenburg Research accused it of fraud roughly equates to India’s annual infrastructure budget. But the government has shown few signs of worry — or at least that’s the impression it’s giving to the markets. The calculus is tricky. Prime Minister Narendra Modi is considered a close ally of Gautam ...

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• 4 February

  Turkey could OKs Finland’s Nato bid before May vote

  

  Bloomberg Turkey is nearing a decision to approve Finland’s accession to the North Atlantic Treaty Organization by next month at the latest, potentially leaving Sweden out in the cold, according to people familiar with the matter. President Recep Tayyip Erdogan is close to concluding that steps taken by Helsinki to address security concerns have been enough for lawmakers to ratify ...

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• 4 February

  US, Philippines agree to resume joint South China Sea patrols

    Bloomberg The US and the Philippines have agreed to resume joint patrols in the South China Sea amid lingering tensions with China in the disputed waters. The decision was reached during Thursday’s meeting between US Defense Secretary Lloyd Austin and his Philippine counterpart, Carlito Galvez, where they also exchanged views “on shared regional security challenges in the Indo-Pacific,” according ...

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• 4 February

  BOE brings peak UK interest rate into view with hike to 4%

  

    Bloomberg The Bank of England (BOE) signalled the fastest pace of interest-rate hikes in three decades may be drawing to a close after it raised its benchmark lending rate a half point. Policy makers led by Governor Andrew Bailey voted 7-2 to raise the benchmark lending rate to 4%, the highest since 2008. The majority said strong pay growth ...

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• 4 February

  Barclays fixed-income traders may be getting a 15% bonus increase

  

    Bloomberg Barclays Plc is weighing an increase in the bonus pool for its fixed income trading division, with the unit expected to produce record revenue after 2022’s wild market swings. The British bank is considering boosting the overall incentive compensation for fixed income traders by as much as 15%, according to people familiar with the matter. The proposals are ...

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