January, 2023

• 16 January

  Germany wants to reuse data centers’ heat. No one is buying it

  

  Bloomberg Germany wants to force its power-hungry data centers to harness excess heat for warming residential homes — an effort which the industry warns is likely to fall flat. The country has become one of the largest global hubs for data centers thanks to its clear data protection and security laws. Politicians are now trying to re-purpose some of their ...

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• 16 January

  Ukraine apartment tower strike by Russia kills at least nine

  

  Bloomberg At least nine people were killed and dozens others wounded after a Russian missile strike demolished much of a high-rise apartment building in the Ukrainian city of Dnipro. The hit was part of Russian coordinated strikes on Ukraine after a roughly two-week pause, starting with what were called ballistic-type missiles aimed at Kyiv and the surrounding region in the ...

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• 16 January

  Pakistan Punjab legislature dissolved as political crisis grows

    Bloomberg Pakistan’s Punjab state has dissolved the local legislature on the advice of the chief minister, an ally of former premier Imran Khan, in a bid to force snap elections. The dissolution took effect after a 48-hour deadline for Governor Baligh ur Rehman to respond to Chief Minister Chaudhry Parvez Elahi’s advice passed late Saturday night. The governor said ...

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• 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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