September, 2022

• 24 September

  Wartime economy of Europe will last for now

    The European “way of life” has always been a vague concept, but — after Covid-19 — it chimed with a new generation looking for la dolce vita. Citigroup Inc is one unlikely poster child. At its new office in Malaga, Spain, junior bankers can expect to be paid half the salary of their London peers — $100,000, reportedly — ...

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• 24 September

  The way to police Big Tech is through US states

    California governor Gavin Newsom signed a landmark bill into law, forcing large internet companies like Facebook to make their sites safer for children. Aside from sparking irritation in tech circles, it has put a spotlight on an area where states are making greater headway than Congress: passing laws to regulate the free-wheeling dominance of Big Tech firms. Rallying against ...

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• 24 September

  Hong Kong airfares soar as quarantine ends

  

    Bloomberg Travellers looking to leave Hong Kong after two-and-a-half years of Covid isolation face the prospect of paying sky-high airfares after the government said it will scrap hotel quarantine on September 26. Weeks after Cathay Pacific Airways Ltd, bruised by the city’s strict pandemic strategy, pleaded publicly for a roadmap to exit Covid, the Asian financial hub’s about-turn on ...

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• 24 September

  Boeing to pay $200m to settle SEC investigation over 737 Max

  

    Bloomberg Boeing Co agreed to pay $200 million to settle Securities and Exchange Commission (SEC) allegations that the company and its former CEO Dennis Muilenburg failed to disclose safety issues with its 737 Max jetliner, resolving one of the final US investigations related to two crashes that killed 346 people. The settlement, announced by the SEC, concludes a probe ...

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• 24 September

  Made.com seeks buyer due to inflation

  

  Bloomberg Online furniture store Made.com Group Plc put itself up for sale after the cost-of-living crisis and supply-chain snarls severely disrupted a business that boomed during Covid-19 lockdowns. The UK company kicked off a strategic review, saying it hasn’t received any formal offers. Made.com said it’s considering debt financing, taking on a business partner or a complete sale or merger. ...

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• 24 September

  IndiGo starts new direct Mumbai-Ras Al Khaimah flights

  

    Ras Al Khaimah / Gulf Time IndiGo, India’s leading carrier, has commenced new daily direct flights between Mumbai and Ras Al Khaimah. Ras Al Khaimah is the 100th overall destination and 11th in Middle East in 6E network. Ras Al Khaimah was also named as Gulf Tourism Capital for the year 2020 and 2021 by Gulf Cooperation Council. The ...

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• 24 September

  Russia stages ‘referendums’ to annex occupied Ukraine lands

  

  Bloomberg Russia on Friday began staging UN-condemned “votes” on annexing the roughly fifth of neighboring Ukraine it occupies in a step that marks a new escalation in the spiraling conflict between President Vladimir Putin and the US and its allies. Russian state media reported overwhelming support for accession to Russia in the four regions that its troops partially control, according ...

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• 24 September

  Biden vows ‘ironclad’ defense of Philippines in Marcos meeting

  

  Bloomberg President Joe Biden reaffirmed the United States’ “ironclad commitment to the defense of the Philippines” during his meeting with counterpart Ferdinand Marcos Jr in New York. The two leaders also “underscored their support for freedom of navigation and overflight” in the South China Sea, and sought peaceful resolution of disputes, according to a White House readout. Biden and Marcos ...

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• 24 September

  Putin’s conscripts won’t win his war but may drag it out

  

  Bloomberg Russian President Vladimir Putin’s move to draft in 300,000 reservists to reinforce his troops in Ukraine is likely to extend the war rather than influence its outcome. Still, it could buy him time to execute a wider strategy — including exacerbating Europe’s energy crisis and threatening a nuclear strike on unspecified targets— aimed at undermining foreign military and financial ...

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• 24 September

  Taiwanese independence is a charging rhino that must be stopped, China says

  

  Bloomberg China’s foreign minister compared the drive for Taiwanese independence to a charging rhinoceros that must be stopped in its tracks, and blamed the US for speeding it along. Foreign Minister Wang Yi said legislation under consideration by US lawmakers threatens the foundation of US-China ties. He said voices advocating the independence of Taiwan, which Beijing claims as its territory, ...

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