January, 2023

• 16 January

  Malaysian deputy PM bolsters his position in win for Anwar

    Bloomberg Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi is set to keep his party’s top job for another term, a move that will strengthen the position of Prime Minister Anwar Ibrahim’s coalition government. Delegates at the United Malays National Organisation’s annual general assembly on Saturday approved a motion to prevent anyone from contesting the party’s top two posts during ...

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• 16 January

  Turkey tells Sweden, Finland to hurry for Nato entry

  

  Bloomberg Turkey said Sweden and Finland should hurry on fulfilling promises for their accession to Nato, ahead of Turkish elections due to take place in less than six months. The Turkish parliament may announce a recess six weeks before parliamentary and presidential elections, leading to the need to rush to get it ratified, said presidential spokesman Ibrahim Kalin. Yet Sweden ...

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• 16 January

  Ex-Nato chief faces tycoon in Czech presidential vote

    Bloomberg A retired general who has pledged unwavering support for Ukraine won the first round of the Czech presidential election, advancing to the run-off against a billionaire ex-premier known for spats with the European Union. Petr Pavel, the former top general in Nato, won by a razor-thin margin with 35.4% of the vote, according to results by the Statistics ...

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• 16 January

  Brazil steps up pressure on Jair Bolsonaro with probe, minister’s arrest

    Bloomberg Brazilian authorities are increasing the pressure on Jair Bolsonaro with a probe into the former president’s role in riots that upended the nation’s capital on Jan. 8 and the arrest of his Justice Minister Anderson Torres by federal police. Torres was arrested on Saturday after arriving in Brasilia following a vacation in the US. The former minister, whose ...

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• 16 January

  Wells Fargo expenses in Q4 exceed analyst estimates on regulatory hit

  

    Bloomberg Wells Fargo & Co. posted higher-than-expected fourth-quarter expenses, even after the firm warned of a hefty loss tied to a regulatory sanction last month. The firm spent $16.2 billion in the last three months of 2022, according to a statement, exceeding analyst estimates. That included $3.3 billion in operating losses after Wells Fargo said last month it would ...

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• 16 January

  Credit Suisse to slash 10% of European investment bankers

    Bloomberg Credit Suisse is planning to cut more than 10% of its European investment bankers this year, adding to hundreds of job losses in London and Zurich, the Financial Times newspaper reported. The bank has been reducing headcount across its divisions after announcing plans to reduce 9,000 roles globally by 2025 last year. The further cuts come after the ...

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• 16 January

  Bangladesh’s central bank raises key rate a quarter point

    Bloomberg Bangladesh’s central bank raised the benchmark rate by 25 basis points to contain inflation that’s hovering near the highest level in a decade. The benchmark repurchase rate was increased to 6% from 5.75% effective from Monday, Bangladesh Bank said in a statement on Sunday. The reverse repo rate will climb to 4.25%, it said. The central bank said ...

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• 15 January

  Apple to begin making in-house screens in 2024

  

    Bloomberg Apple Inc is planning to start using its own custom displays in mobile devices as early as 2024, an effort to reduce its reliance on technology partners like Samsung and LG and bring more components in-house. The company aims to begin by swapping out the display in the highest-end Apple Watches by the end of next year, according ...

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• 15 January

  Jaguar owner to make electric vehicle battery cells in Europe

  

    Bloomberg India’s oldest conglomerate, Tata Group, is planning to set up electric vehicle cell-manufacturing operations in Europe as it tries to accelerate its British marque unit’s shift to battery-powered cars. Jaguar Land Rover (JLR) and Tata Motors will be the anchor customers for the facility, which will also sell battery cells to the wider market, Tata Motors Chief Financial ...

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• 15 January

  Intel rolls out design aimed at winning back server market share

  

    Bloomberg Intel Corp released chips with its delayed server design that are key to regaining control of one of the most lucrative markets in computing. Xeon processors based on the new Sapphire Rapids design are already in cloud-computing systems run by Alphabet Inc.’s Google and Amazon.com Inc.’s Amazon Web Services and are going on general sale in machines offered ...

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