September, 2022

• 30 September

  Thai PM Prayuth can continue in office: Court

  

    Bloomberg Thailand’s Prime Minister Prayuth Chan-Ocha will remain in office after the highest court ruled he hadn’t breached a constitutional term limit, handing him a victory as political jockeying increases ahead of elections that must be called by March. The nine-member Constitutional Court said Friday the eight-year term limit can’t be imposed retroactively on Prayuth, who first took office ...

  Read More »
• 30 September

  Polish prime minister loses chief aide after email leaks

    Bloomberg Polish Prime Minister Mateusz Morawiecki’s chief aide resigned after becoming embroiled in an email-hacking scandal that has plagued the government for more than a year. Leaks of emails allegedly stolen from aide Michal Dworczyk’s private inbox exposed sensitive correspondence with administration officials including Morawiecki and became frequent media fodder. Dworczyk, who stepped down Friday, said the account was ...

  Read More »
• 30 September

  German inflation hits double digits for first time in euro area

  

    Bloomberg German inflation reached double digits for the first time since the euro was introduced more than 20 years ago, surging more than anticipated after temporary government-relief measures ended and Europe’s energy crisis worsened. Consumer prices jumped 10.9% from a year ago in September, topping August’s 8.8% advance, the Federal Statistics Office said. That’s more than the 10.2% economists ...

  Read More »
• 30 September

  US jobless claims fall to lowest since late April

  

    Bloomberg Applications for US unemployment insurance dropped unexpectedly to a five-month low, led by a sizable decline in Michigan, suggesting robust demand for workers amid economic uncertainty. Initial unemployment claims decreased by 16,000 to 193,000 in the week ended September 24, after downward revision in the prior week, Labour Department data showed. The median estimate in a Bloomberg survey ...

  Read More »
• 30 September

  Canadian economy sputters into lower gear as interest rates bite

  

    Bloomberg Canadian economic activity remained weak through the summer and job vacancies fall, a clear sign growth has begun to sharply slow down. Gross domestic product was flat in August, preliminary data from Statistics Canada show, after gaining just 0.1% in July and June. Since April, growth has averaged just 0.1% on a monthly basis. In a separate report, ...

  Read More »
• 30 September

  Porsche rises in landmark IPO

    Bloomberg Porsche AG gained during its trading debut after parent Volkswagen AG set the final listing price for the sports-car company at the upper limit in defiance of market upheaval. The maker of the 911 rises as much as 2.9% to €84.88 in Frankfurt, against a decline of as much as 2% in Germany’s leading DAX index. The offer ...

  Read More »
• 30 September

  Cost of average UK mortgage may rise 70% by March

  

    Bloomberg Tremors are continuing to ripple through the UK mortgage market despite the Bank of England’s intervention to calm financial turbulence. Higher borrowing costs for lenders means the average monthly cost of a two-year fixed-rate mortgage will rise by 70% by March from January this year, Bloomberg Economics estimates. The cost of a two-year fixed-rate mortgage on an average-priced ...

  Read More »
• 30 September

  China’s Tencent loses crown in world’s biggest stock wipeout

  

  Bloomberg Tencent Holdings Ltd has lost its title as China’s biggest company, the latest sign of how far regulatory risk and dimming growth prospects has set back the country’s technology industry. Shares of the online gaming company have tumbled 64% in Hong Kong since a January 2021 peak, wiping $623 billion off its market value. That’s more than any other ...

  Read More »
• 30 September

  UK stocks set for record outflows in a 2022 meltdown, says BofA

  

    Bloomberg UK equity outflows are on track for their worst year ever, with investors pulling $18 billion from the country’s stock funds so far in 2022, according to Bank of America Corp. The figure eclipses prior years, and would mark a seventh straight year of UK equity outflows — every year since the 2016 Brexit referendum — according to ...

  Read More »
• 30 September

  Abu Dhabi-based Global Mission initiates $17 billion fund for SDGs

  

    Abu Dhabi / WAM Global Mission, an Abu Dhabi based non-profit, along with its global partners, has established a $US17 billion fund to help achieve the United Nations’ 17 Sustainable Development Goals (SDGS) across the globe, a senior executive told the Emirates News Agency (WAM). “This ‘Global Fund for Sustainable Development’ is the most ambitious SDG-fund worldwide. Based in ...

  Read More »