November, 2022

• 14 November

  Coupang posts first operating profit

    Bloomberg Coupang Inc, the South Korean e-commerce firm backed by SoftBank Group, posted its first operating profit on record after winning more customers and improving cost efficiency. The third-quarter operating profit amounted to $77.4 million, compared with a loss of $315 million on that basis a year earlier, the US-listed company said in a statement. Net revenue climbed 10% ...

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• 14 November

  Biden to meet Xi in bid to avert a full rupture in US-China ties

  

  Bloomberg The US and China disagree on so many things, across so many spheres, that other world leaders are increasingly warning of a deeper rupture that could split the global economy. With the stakes rarely higher, President Joe Biden heads to Bali, Indonesia, for his first in-person meeting with China’s Xi Jinping since taking office last year with promises to ...

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• 14 November

  Melania Trump’s lawyer likely to win Slovenian presidential vote

  

    Bloomberg Slovenians are voting in a presidential election pitting a human-rights lawyer who has vowed to uphold the rule of law against the ally of an ousted nationalist leader criticized for undermining the country’s democratic values. Natasa Pirc Musar, who once served on the legal team of former US First Lady Melania Trump, had the edge in opinion polls ...

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• 14 November

  Biden rallies Yoon, Kishida as North Korean missile threat grows

  

  Bloomberg President Joe Biden met the leaders of Japan and South Korea to rally support in the face of increasingly brazen North Korean missile tests, a show of solidarity a day before he meets Chinese President Xi Jinping. Biden met on Sunday with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol during a summit in Phnom ...

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• 14 November

  G-20 statement in doubt as US, Russia fail to agree at Asean

  

  Bloomberg Russia and the US failed to agree on language for a joint statement following a multilateral summit in Cambodia, making it unlikely the Group of 20 nations will reach a consensus in Indonesia either this week. Russian Foreign Minister Sergei Lavrov put the blame on the US and its allies for the lack of communique at the 18-nation East ...

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• 14 November

  US border chief quits amid tension over migrant crossings

    Bloomberg The commissioner of Customs Border Protection resigned after saying he had been pressured to step down by Homeland Security Secretary Alejandro Mayorkas amid a record number of migrant crossings at the US-Mexico border. “The President has accepted the resignation of Christopher Magnus, the Commissioner of U.S. Customs and Border Protection,” White House spokeswoman Karine Jean-Pierre said in a ...

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• 14 November

  Germany’s annual borrowing set to hit $45 billion next year

  

  Bloomberg Germany’s ruling coalition is planning to more than double net federal borrowing next year to help ease the impact of the energy crisis and steer Europe’s largest economy through an expected recession. The government is targeting net borrowing of €45 billion ($45 billion) in 2023, according to people familiar with the plan, who asked not to be identified discussing ...

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• 14 November

  US firms add 239,000 jobs, boosted by leisure hospitality sectors

  

    Bloomberg Hiring at US companies rose in October by more than forecast, mainly reflecting a surge in leisure and hospitality and underscoring resilient labor demand despite the Federal Reserve’s efforts to cool the economy. Private payrolls rise 239,000 last month after a revised 192,000 gain in September, according to data from ADP Research Institute in collaboration with Stanford Digital ...

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• 14 November

  Twitter pauses 8$ subscription programme

  

  Bloomberg Twitter Inc. suspended the $8 subscription program it launched earlier this week to combat a growing problem of users impersonating major brands, a person familiar with the move said. Existing subscribers will still have access to their account, said the person who asked not to be identified because the information is private. The move was reported earlier by the ...

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• 14 November

  UK’s Hunt seeks budget plan to make recession short, shallow

  

    Bloomberg The UK’s new financial plan will seek to make any recession as short as possible, Chancellor Jeremy Hunt said. “I want to make sure that this recession, if we are in one, is as short and shallow as possible,” Hunt said in an interview on Sky News. The UK economy shrinks in the third quarter for the first ...

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