September, 2022

• 23 September

  Lidl pips Aldi in pay for UK staff

    Bloomberg Lidl is raising wages for its UK staff to overtake Aldi and become the highest-paying supermarket in Britain. Starting next month Lidl will pay employees £10.90 ($12.38) an hour outside London, up from £10.10, and £11.95 within the capital, up from £11.30 previously, the company said. That compares with its rival discounter Aldi which pays at least £10.50 ...

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• 23 September

  Ukraine frees Putin ally in swap deal for hundreds of troops

  

  Bloomberg Ukraine handed over a key ally of Russian President Vladimir Putin in exchange for hundreds of prisoners of war including many captured in a landmark battle, a swap that outraged pro-Kremlin propagandists. Viktor Medvedchuk was one of 55 people turned over to Russia in return for 215 prisoners, including 188 who held out for months against Russian assault at ...

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• 23 September

  North Korea denies selling arms to Russia, blasts US ‘rumors’

  

  Bloomberg North Korea denied it sold weapons to Russia in an unusually direct statement, and blasted the US over “rumors” that Kim Jong Un’s regime was aiding Vladimir Putin’s war in Ukraine. “We have never exported weapons or ammunition to Russia before and we will not plan to export them,” the state’s official Korean Central News Agency reported Thursday, citing ...

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• 23 September

  Putin’s call-up brings reality of war home to many Russians

  

  Bloomberg President Vladimir Putin’s order to call up as many as 300,000 reservists to fight in Ukraine triggered alarm and scattered demonstrations as Russians were forced to confront the reality of the deadly conflict. Police detained about 1,400 people at protests against the order in 38 cities Wednesday night, according to the OVD-Info monitoring group. Some of the male detainees ...

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• 23 September

  South Korea’s Yoon overheard insulting US Congress

  

  Bloomberg South Korean leader Yoon Suk Yeol was overheard insulting American lawmakers, after briefly meeting President Joe Biden to discuss issues including US electric-vehicle subsidies that South Korea wants to change. “What an embarrassment for Biden, if these idiots refuse to grant it in Congress,” video broadcast on South Korean television showed Yoon telling Foreign Minster Park Jin in New ...

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• 23 September

  Imran Khan calls for fresh Pakistan protests

    Bloomberg Pakistan’s former prime minister Imran Khan plans to resume his push for snap elections in the South Asian nation even as he faces legal worries that could derail his political career. Khan asked his supporters to prepare for the new protest — the “True Freedom” movement —which would start Saturday. He gave no other details. In the past, ...

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• 23 September

  Japan intervenes to support yen for first time since 1998

  

  Bloomberg Japan intervened to prop up the yen for the first time since 1998, after its central bank sparked further declines in the currency by sticking with ultra-low interest rates as its global peers hiked. The yen rose as much as 2.5% against the dollar, pulling back sharply from the lows of the day when it had breached a key ...

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• 23 September

  Powell’s rate hike till inflation breaks makes dollar king trade

  

  Bloomberg The surging dollar is showing there’s only one macro asset worth buying when the Federal Reserve tightens above its long-term neutral rate. Traders offloaded stocks, bonds and major currencies for a second day after the US central bank raised rates for a fifth time this year. The yen, the biggest Group-of-10 loser, briefly slid past 145 per dollar, prompting ...

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• 23 September

  Citi proposes revamp of UK retail banking, Canary Wharf branch

  

    Bloomberg Citigroup Inc wants to focus its UK retail-banking operation on its wealthiest customers as the Wall Street giant revamps its overseas presence. The company will invite UK customers that meet the profile of its private bank to make use of those services as it winds down the operation, according to a statement about the proposal. The majority of ...

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• 23 September

  Yuan losses deepen highlighting limits of PBOC currency defense

  

  Bloomberg China’s yuan is set for its longest losing streak since June even after the central bank sought to support the currency with stronger-than-expected fixings in every single session for nearly a month. The onshore yuan slid for the fourth straight day to trade just 0.5% shy of the weak end of its allowed trading range with the greenback following ...

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