December, 2022

• 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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• 13 December

  ‘Investors may need to pare back on reopening China trades’

    Bloomberg A sharp increase in China’s Covid infections following an abrupt end to strict pandemic control measures suggests investors may need to pare back on reopening trades, according to Morgan Stanley. “We would recommend that investors put on hedges in the markets where investors are almost fully pricing in reopening trades,” strategists including Min Dai and Gek Teng Khoo ...

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• 13 December

  Shopify’s $118 billion rout slows Canada’s stellar stock-market run

  

    Bloomberg Shopify Inc.’s 70 percent plunge has almost single-handedly dragged the Canadian stock market into the red this year, taking the shine off what would otherwise be one of the world’s top-performing major equity benchmarks. The e-commerce software provider has lost C$161 billion ($118 billion) in market value in 2022, causing a 978-point drag on the S&P/TSX Composite Index. ...

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• 13 December

  Stocks, US futures up as traders await CPI

  

    Bloomberg US index futures and European equities rise amid forecasts inflation in the world’s largest economy will post the lowest figure this year, warranting a less hawkish Federal Reserve. Contracts on the S&P 500 and Nasdaq 100 advanced at least 0.1% each after the underlying indexes climbed on December 12 by the most in December. The Stoxx 600 gauge ...

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• 13 December

  Dubai’s GDP grows 4.6% to AED307.5b in 9 months of ’22

  

    Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, announced that Dubai’s GDP grew 4.6% year-on-year to AED307.5 billion during the first nine months of 2022 compared with the same period last year. HH Sheikh Hamdan bin Mohammed noted that Dubai’s exceptional GDP growth was the ...

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• 13 December

  UAE leaders wish President of Kenya on Independence Day

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President William Samoei Ruto of Kenya, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent similar message to Kenyan ...

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