October, 2022

• 14 October

  Beyond Meat announces layoffs

    Bloomberg Plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter. It wasn’t immediately clear how many workers were terminated. Beyond Meat asked employees to work from home and restricted access to documents. Management then set up individual calls to inform some workers that ...

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• 14 October

  North Korea fires missile again, sends warplanes near border

  

  Bloomberg North Korea test-launched a short-range ballistic missile, fired barrages of artillery and flew about 10 warplane near the inter-Korean border, saying its actions were a stern warning to South Korea for recent military moves. The missile was launched at 1:49 a.m. Friday from an area near Pyongyang’s main international airport. It flew for about 700 kilometers (435 miles), hitting ...

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• 14 October

  Erdogan welcomes Putin’s idea to make Turkey a gas hub

  

  Bloomberg Recep Tayyip Erdogan welcomed Vladimir Putin’s proposal to turn Turkey into a regional hub for natural gas, potentially positioning the country as a key route for Russian flows to Europe. The Turkish president met Putin in Kazakhstan on Thursday and they agreed to establish an international gas hub, most likely in the Thrace region bordering Greece and Bulgaria, state-run ...

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• 14 October

  US warns Venezuelan migrants not to cross border

  

  Bloomberg A Biden administration official said thousands of Venezuelans crossing Central America to try to reach the US should stop where they are or risk getting turned away at the border. “For those who are on the move, I want to tell them to stay where they are. Do not try to enter Mexico and do not try to cross ...

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• 14 October

  Swedish nationalists to stay out of planned minority cabinet

    Bloomberg Sweden’s nationalists won major concessions on crime and immigration from the country’s incoming minority government even after failing to secure seats in the cabinet unveiled on Friday. Ulf Kristersson, the leader of the Moderates and incoming prime minister, said that the coalition taking over from Magdalena Andersson’s Social Democrats will include ministers from his own and two smaller ...

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• 14 October

  Lula, Bolsonaro try to woo poor voters as Brazil race tightens

  

  Bloomberg Brazil’s Luiz Inacio Lula da Silva and incumbent Jair Bolsonaro campaigned across the northeast of the country on Thursday, with both candidates trying to shore up support among the poor amid signs the presidential race is tightening ahead of the October 30 runoff. Lula, 76, said at an event in the city of Aracaju, capital of Sergipe state, that ...

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• 14 October

  Asia spent $50bn to defend its currencies from US dollar

  

    Bloomberg Asian governments spent about $50 billion in foreign-exchange reserves last month — the highest level since March 2020 — to defend their currencies from a relentless advance in the US dollar. Exante Data Inc., a firm that specialises in tracking global capital flows, estimates emerging Asian nations excluding China spent nearly $30 billion with dollar sales in the ...

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• 14 October

  Japanese yen slumps to three-decade low

  

    Bloomberg The yen fell to its lowest level in more than 30 years in the aftermath the hotter-than-expected US inflation report, before reversing the move in a whiplash trade that raised market chatter of potential intervention. The Japanese currency falls to 147.67 per dollar, the weakest since August 1990, before bouncing back in choppy trading. It fluctuated around the ...

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• 14 October

  Apple partners with Goldman Sachs to offer savings accounts

  

    Bloomberg Apple Inc. and Goldman Sachs Group Inc. will team up to offer savings accounts to users of the tech company’s credit card. “Apple Card users will be able to open the new high-yield savings account and have their daily cash automatically deposited into it — with no fees, no minimum deposits and no minimum balance requirements,” Apple said. ...

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• 14 October

  UK bank to pay bondholders higher interest to swap debt

  

    Bloomberg A UK lender is offering to pay bondholders higher interest to swap debt rather than risk tapping sterling’s chaotic market for fresh cash. With no sign of volatility easing yet, Shawbrook Group wants to keep investors happy by moving them to new notes that offer an 8.099 percentage-point premium over UK gilts, an extra 100 basis points versus ...

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