January, 2023

• 11 January

  UK retailers got Christmas boost even as inflation hit volumes

  

    Bloomberg UK retailers saw an uplift in sales in December as shoppers braved rail strikes and cold weather to buy Christmas gifts, but soaring inflation meant consumers had to pay more for fewer items. Retail sales rise 6.5% last month compared with a year earlier, driven by food sales which grew almost 8%, according to data from the British ...

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• 11 January

  Rolex reseller raises cash from investors

    Bloomberg Bezel, a US online watch reseller, won financial backing from a slew of investors including former Disney President Michael Ovitz, actor and comedian Kevin Hart, recording artist John Legend and professional athletes from the NBA and NFL. Launched in 2022, Bezel is taking aim at established watch resale platforms including Chrono24, Bob’s Watches and EBay Inc, seeking a ...

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• 10 January

  Tata all set to takeover iPhone plant to grow Apple supply role

  

    Bloomberg Tata Group is close to taking over a major plant in southern India in a deal that would give the country its first homegrown iPhone maker. The airline-to-software conglomerate has been in talks with the factory’s owner, Taiwan’s Wistron Corp., for months, and is looking to complete the purchase by the end of March, according to two people ...

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• 10 January

  China’s new regulation to tighten scrutiny of firms’ foreign debt next month

  

    Bloomberg China’s new regulation to increase scrutiny of companies’ foreign debt will become effective Feb. 10 in the market’s biggest overhaul since 2015. The effort will encompass debt instruments with tenors of over one year that are sold by Chinese firms or their controlled offshore entities, according to a Tuesday announcement on the National Development and Reform Commission’s website. ...

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• 10 January

  Byju’s seeks more time from lenders to recast $1.2b debt

  

    Bloomberg Byju’s, the world’s most valuable edtech startup, has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to people with knowledge of the matter. The creditors have until Tuesday to sign a forbearance agreement, which will give the company time till February 10 to negotiate broader ...

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• 10 January

  Tokyo inflation hits 4%, pointing to stronger-than-thought trend

  

    Bloomberg Tokyo’s inflation outpaced forecasts to hit 4% for the first time since 1982, suggesting the underlying price trend is stronger than expected by economists, a factor that could further fuel speculation the Bank of Japan will adjust policy again. Consumer prices excluding fresh food climbed 4% in the capital in December as food and energy costs continued to ...

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• 10 January

  Hong Kong homebuyer optimism rises

    Bloomberg Hong Kong’s property market is seeing more deals as buyers bet the border reopening with mainland China will help channel more capital into the city and stoke a recovery. The number of transactions in 35 major residential projects jumped to an eight-month high in the two weeks ended January 8, according to Midland Realty. That is an encouraging ...

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• 10 January

  Brazilian president Lula says rioters will fail in coup attempt

  

  Bloomberg A day after Brazil’s capital was stormed by his predecessor’s supporters, President Luiz Inácio Lula da Silva worked from his office, where he met with the country’s governors as well as the heads of congress and the Supreme Court. “We are not going to allow democracy to slip out of our hands,” Lula said at the meeting. “They want ...

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• 10 January

  EU and Nato sign new cooperation agreement

  

  Bloomberg The European Union and Nato further solidified their relationship Tuesday when European Commission President Ursula von der Leyen, European Council President Charles Michel and Nato Secretary General Jens Stoltenberg signed a new joint declaration of cooperation. A top Biden administration official said a deal struck by the new Republican House majority to cap 2024 spending would not imperil aid ...

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• 10 January

  Macron, Kishida vow closer cooperation in Indo-Pacific region

  

    Bloomberg French President Emmanuel Macron and Japanese Prime Minister Fumio Kishida pledged to strengthen cooperation in the Indo-Pacific region amid shared concerns over China and North Korea. Speaking to reporters in Paris, Macron and Kishida highlighted challenges including security as areas where they can increase cooperation. The leaders looked to a new round of joint military exercises as well ...

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