December, 2022

• 30 December

  Myanmar’s Suu Kyi faces 33 years in jail

  

  Bloomberg Myanmar’s deposed leader Aung San Suu Kyi has been sentenced to seven more years in prison after she was found guilty of five charges of corruption during her time in government, according to a person familiar with the matter. A special court inside the compound of Naypyidaw Prison ruled the 77-year-old failed to follow financial regulations in renting and ...

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• 30 December

  Xi appoints US envoy Qin Gang as foreign minister

  

    Bloomberg China appointed its ambassador to the US, Qin Gang, as the new foreign minister, as the nation shows signs of moving back to a lower-key diplomatic strategy after a growing backlash against its confrontational style. The move was announced by China National Radio, which said the decision was made at a meeting of the National People’s Congress Standing ...

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• 30 December

  Eritrean troops withdraw from Ethiopia’s Tigray region

  

    Bloomberg Eritrean soldiers are leaving major cities in Ethiopia’s Tigray region, the latest sign that a peace deal aimed at ending two years of conflict is holding. Over the past 48 hours the troops were seen withdrawing by truck from the Ethiopian city of Shire and the town of Adwa near the northern border with Eritrea, said people who ...

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• 30 December

  Sunak’s tax rises to worsen UK’s cost of living squeeze

  

  Bloomberg Britain’s cost-of-living squeeze will tighten in 2023, with families shouldering higher tax payments at a time when energy bills and interest rates also are soaring. The Resolution Foundation said the average household will pay £1,000 ($1,204) more in taxes next year and £900 more for electricity and natural gas. About 2 million mortgage holders will suffer an average increase ...

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• 30 December

  Rogers Communications’ $14.8bn Shaw deal wins Canada court approval

  

  Bloomberg Canada’s merger court ruled in favour of Rogers Communications Inc and Shaw Communications Inc in a key antitrust case, clearing one of the final hurdles to the union of two of the nation’s largest telecommunications firms. The federal antitrust commissioner failed to prove that the deal would cause significant harm to competition in the industry, the Competition Tribunal said ...

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• 30 December

  EU urges tighter Covid surveillance amid concern over China spreading

  

    Bloomberg The European Commission has asked EU member states to review Covid testing and sequencing procedures and to consider scaling them back up amid increased concern about the virus spreading from China. “If a new variant of the SARS-CoV2 virus appears — be it in China or in the EU — we must detect it early in order to ...

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• 30 December

  Spanish inflation slows in December

    Bloomberg Spanish inflation slowed for a fifth straight month in December, decelerating by nearly half since mid-year as energy costs continue to decline in the euro zone’s fourth-largest economy. Consumer prices rose 5.6% from a year earlier, down from a 6.7% advance in November, the statistics institute said. That’s a better reading than the 5.8% median estimate in a ...

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• 30 December

  Tesla poised for another delivery record despite demand concerns

  

  Bloomberg Tesla Inc is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand. In an effort to clear inventory, Tesla offered a rare $7,500 discount to US customers who took delivery of ...

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• 30 December

  After $18 trillion rout, global stocks face more hurdles in ’23

  

  Bloomberg More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red. With a drop of more than 20% in 2022, the MSCI ...

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• 30 December

  Meta, Coinbase among US stocks that hurt investors most in ’22

  

    Bloomberg It’s been a year of historic selloffs for US equities. Marked by surging inflation, jumbo-sized interest rate hikes, a darkening outlook on corporate earnings and recession clouds, the S&P 500 Index has lost 21%, on pace for its biggest slump since 2008. From crypto to former pandemic winners and so-called Faang stocks, investors have been shaken out of ...

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