December, 2022

• 13 December

  Japan to boost limit on ‘tax-free accounts’

    Bloomberg Japan is set to increase the annual limit on tax-free investment accounts aimed at the middle classes and raise taxes on ultra-wealthy individuals, as PM Fumio Kishida pursues his agenda of fairer distribution of the fruits of growth. The revamped NISA tax-exempt system will expand the amount that people may invest over a lifetime to Â¥18 million ($131,000), ...

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• 13 December

  Indonesia’s GoTo jumps 24% since May after relentless selloff

  

    Bloomberg GoTo Group jumped by the most since May as some brokers upgraded the battered stock following weeks of sharp selloff. The Indonesian ride-hailing and e-commerce provider surged 15% to 100 rupiah, snapping 16 straight sessions of losses. Trading volume also soared to about 30 times its three-month average. Even with the latest gain, the stock has plunged more ...

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• 13 December

  Sunak unveils plans to tackle UK’s backlog of asylum claims

  

  Bloomberg Prime Minister Rishi Sunak unveiled plans to tackle the UK’s swelling backlog of asylum claims including making it harder for arrivals from Albania to stay in Britain. The premier unveiled a five-point plan to bear down on what he called “illegal migration,” saying it’s “unfair” that people enter Britain “illegally,” because it takes capacity away from processing “genuine” claims. ...

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• 13 December

  China sends record wave of bombers into Taiwan Strait

  

    Bloomberg China’s military sent its biggest daily sortie of bombers into the Taiwan Strait in at least two years, in apparent show of displeasure over a visit by a key member of Japan’s ruling party. The 18 H-6 strategic bombers — the most in Bloomberg-compiled data going back to September 2020 — were part of a sortie of 29 ...

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• 13 December

  India confirms first border clash with China since 2020

  

    Bloomberg Indian and Chinese troops clashed in the northeast Indian border state of Arunachal Pradesh, India’s Defense Minister Rajnath Singh told parliament, officially confirming the first such encounter between the neighbours in about two years. Troops from both sides “exchanged blows” after hundreds of Chinese soldiers transgressed into India’s side of the boundary, Singh said. India has raised the ...

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• 13 December

  Bolsonaro’s supporters clash with police in Brazil’s capital

    Bloomberg Supporters of President Jair Bolsonaro clashed with police in Brazil’s capital after an indigenous leader who sought to stop the certification of Luiz Inacio Lula da Silva was arrested by determination of a top court justice. TV footage showed cars and buses on fire in Brasilia, and police trying to disperse protesters in different parts of the city ...

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• 13 December

  Peru leader’s call for vote fails to curb chaos

  

  Bloomberg The violent chaos roiling Peru spread after President Dina Boluarte’s call for early elections failed to calm demonstrators protesting against her five-day old government. Crowds blocked highways and massed in city centers in several regions of the Andean nation, and at least four people were killed as security forces tried to reimpose order, according to the Health Ministry. Demonstrations ...

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• 13 December

  Estonia diplomat calls for Russia’s ‘total isolation’

  

  Bloomberg Estonia’s top diplomat called for the “complete isolation” of Russia’s financial system and an oil-price cap that would cripple the nation’s energy producers, extending punitive measures to cover the whole economy. Foreign Minister Urmas Reinsalu, who has been among the most outspoken EU officials in calling for the bloc to help Ukraine defend itself against the invasion, said the ...

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• 13 December

  Bank of England recommends ‘urgent and robust’ LDI rules

  

    Bloomberg The Bank of England (BOE) has recommended the UK take swift regulatory action to strengthen the pensions market after recent bond market turmoil exposed shortcomings in its oversight. The central bank’s Financial Policy Committee said the pensions regulator and Financial Conduct Authority (FCA) should work with overseas regulators to ensure liability-driven investment (LDI) funds are more resilient to ...

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• 13 December

  Goldman to cut more jobs as it rehauls consumer business

  

    Bloomberg Goldman Sachs Group Inc aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead. The bank is drafting plans that could eliminate at least 400 positions from its loss-making retail banking operations, according to people familiar with the ...

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