January, 2023

• 29 January

  Gandhi walks 2,000 miles to challenge Modi in 2024 election

  

    Bloomberg After more than 100 days walking nearly the entire length of India, Rahul Gandhi, scion of the nation’s most famous political dynasty, stood before a shivering crowd in rural Himachal Pradesh as a cheer went up. Bearded and clad in a white t-shirt, Gandhi bore none of the vestiges of wealth or elitism that have smudged his family’s ...

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• 29 January

  Thaksin daughter says she’s confident of Thai election win

  

    Bloomberg Paetongtarn Shinawatra, bidding to follow in the footsteps of her father and aunt in becoming Thai prime minister, is confident her party can achieve a landslide victory at the next elections with better policies to ease the burden of voters. The 36-year-old daughter of Thaksin Shinawatra is widely seen as the Pheu Thai opposition party’s top potential candidate ...

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• 29 January

  Sunak fires Zahawi citing ethics breach

    Bloomberg Prime Minister Rishi Sunak fired Nadhim Zahawi, citing “serious” breaches of ethics rules after revelations about the Conservative Party chairman’s tax affairs made his position untenable. In a letter to Zahawi on Sunday, Sunak said that the independent review of the matter had been concluded and “it is clear that there has been a serious breach of the ...

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• 29 January

  BOE interest rates likely to rise to 4% in Feb after pay surges

  

    Bloomberg Britain’s soaring wage inflation is likely to push the Bank of England (BOE) to another sharp increase in interest rates this week. Investors and economists expect the UK central bank to raise its key rate a half point to 4% on February 2. That would mark the highest since 2008 and the quickest string of hikes in three ...

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• 29 January

  Colombia’s central bank slows pace of rate hikes

  

    Bloomberg Colombia’s central bank slowed the pace of monetary tightening and signalled that interest rate rises are nearing an end as the economy’s growth outlook dims. The bank lifted its benchmark rate by three quarters of a percentage point to 12.75%, governor Leonardo Villar told reporters after the meeting. Five of the seven-member board voted for the move, while ...

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• 29 January

  AmEx surges most in over two years on profit, revenue forecast

  

  Bloomberg American Express Co. (AmEx) jumped the most in more than two years after the credit-card giant predicted that revenue and earnings for this year will surge well above what analysts estimated. While total volume on AmEx’s network increased less than expected in the final three months of last year, the record number of new cardholders AmEx added in 2022 should ...

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• 29 January

  Goldman Sachs’s Solomon joins CEOs taking pay cuts

    Bloomberg As layoffs at technology and finance firms in the US have piled up, their executives have talked at length about the need to cut costs in a challenging economic environment. At some of the biggest firms, the same austerity measures are also being applied in the C-suite. David Solomon, the chief executive officer of Goldman Sachs Group Inc., ...

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• 29 January

  Automakers eye market for small electric pickups

  

    Bloomberg Having zipped from six-figure sedans to Costco-crushing SUVs, electrification is finally zeroing in on the auto industry’s most esoteric form: the tiny pickup truck. At least two major carmakers are considering adding small, battery-powered pickups to their growing parade of EVs. At General Motors Co., spokesman Stuart Fowle says a pint-sized pickup is one of several electric options ...

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• 29 January

  Global smartphone shipments drop most ever as consumers spend less

  

    Bloomberg Global smartphone shipments suffered their worst quarterly drop on record in a clear sign of cooling consumer demand that signals more pain for manufacturing hubs like South Korea and Vietnam. Shipments declined 18.3% in the December 2022 quarter compared to a year earlier, to a little over 300 million units, Needham, Massachusetts-based IDC said. For the year, shipments ...

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• 29 January

  Hyundai unveils $8.5bn spending plan amid EV push

  

    Bloomberg Hyundai Motor Co. will invest 10.5 trillion won ($8.5 billion) over the course of 2023, according to an exchange filing, as it moves to electrify more of its fleet to sate rising consumer demand for cleaner cars. The money will be spent primarily on research and development and on building a new plant in Georgia, the Seoul-based automaker ...

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