December, 2022

• 25 December

  Brazil’s Guararapes taps Safra for stake sale

  

    Bloomberg Guararapes Confeccoes SA, the Brazilian conglomerate that owns fashion retailer Riachuelo, is working with Banco Safra SA as it mulls a potential stake sale, according to people familiar with the matter. Shoemaker Arezzo Industria e Comercio SA and Grupo SBF SA, owner of sporting-goods retailer Centauro, are among the companies that have been approached, said the people, who ...

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• 25 December

  Ethiopia reiterates Boeing Max crash over unfit safety feature

  

    Bloomberg Ethiopian authorities reiterated that the deadly Boeing Co 737 Max jet crash near Addis Ababa almost four years ago was mainly due to a faulty safety feature, revealing little fresh insight into the accident. A final report into the Ethiopian Airlines Group incident concluded that all professionals and planes related to the crash were correctly certified, Dagmawit Moges, ...

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• 25 December

  Lidl panettone becomes taste of Christmas in broke Britain

  

    Bloomberg Britons normally splash out on food at Christmas, trading up to more premium grocers for turkeys and mince pies. This year, amid the worst cost-of-living squeeze in memory, they’re heading to Aldi and Lidl. The German discounters have escalated their challenge to traditional supermarkets like Tesco Plc, slashing prices of fowl and vegetables to try to attract last-minute ...

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• 25 December

  Border Force warns of UK airport disruption in 2023

    Bloomberg Passengers at UK airports have been threatened with more disruption next year after a union said the strike by Border Force officials is likely to be the first of many. Workers kicked off eight days of walkouts stretching to New Year’s Eve, with the Public and Commercial Services Union demanding higher pay and more job security for its ...

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• 25 December

  Macy’s workers strike in San Francisco

    Bloomberg Macy’s Inc workers at a flagship location in San Francisco’s Union Square began a two-day strike, walking out on some of the most crucial holiday shopping days of the year. Macy’s said in a statement that “our top priority is to ensure the safety of our colleagues and customers,” adding that the store location will remain open. The ...

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• 25 December

  China’s Nio chief warns of sales challenges in first half

  

  Bloomberg Nio Inc founder and Chief Executive Officer William Li said the Chinese EV maker may face a challenging first half as a cut in government subsidies and the broader economic slowdown erode local demand in the world’s largest new-energy vehicle market. Customers are likely to try place orders before the end of the year, when the national subsidies for ...

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• 25 December

  India to review rules on how it taxes foreign firms

  

    Bloomberg India will review rules to clarify how it will tax foreign companies that provide digital services such as internet advertising, online education, media streaming, news subscriptions and data storage. Currently, even if they have no other taxable presence in India, foreign service providers must pay an 18% goods and services tax if their offerings are largely automated, involve ...

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• 25 December

  China’s Covid outbreak driven by existing strains: Survey

  

    Bloomberg The Covid-19 outbreak that’s hitting China is being caused by strains of the virus that have already circled the world, with no signs yet of significant new mutations emerging, according to officials at a global consortium that’s tracking the pandemic. Chinese authorities submitted 25 new genetic samples from Beijing, Inner Mongolia and Guangzhou taken in the past month ...

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• 25 December

  South Korea approves $499b budget

    Bloomberg South Korea’s parliament approved a 2023 budget that reflects a more rigorous fiscal approach from the new government as it tries to position the nation to address rising economic risks. The 639 trillion won ($499 billion) fiscal blueprint passed represents efforts by officials under President Yoon Suk Yeol to reduce South Korea’s debt dependence and wean the economy ...

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• 25 December

  Absence of talks to stop war is not Moscow’s fault: Putin

  

  Bloomberg With Russia’s invasion now into its 11th month, President Vladimir Putin said the absence of talks to stop the war is not Moscow’s fault. “It’s not we who refuse negotiations, but they,” Putin said in a TV interview. Russia is prepared to discuss “acceptable outcomes,” he added. Air alerts sounded across Ukraine after Russian fighter jets, including one capable ...

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