December, 2022

• 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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• 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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