September, 2022

• 22 September

  M&S to spend $17m to help staff in cost-of-living crisis

    Bloomberg Marks & Spencer Group Plc will spend £15 million ($17 million) to support employees struggling with Britain’s spiraling cost of living. The retailer said that it plans to boost hourly wages to at least £10.20 from £10, its second pay rise this year, while providing one-time £250 M&S vouchers to 4,500 workers. Other measures include free meals every ...

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• 22 September

  Home Depot workers file union petition

  Bloomberg Home Depot Inc employees based in Philadelphia have filed a petition to unionise, according to a National Labor Relations Board filing, a rare move at the home-improvement retailer amid a growing nationwide labor movement. The 274 employees included in the petition work in merchandising, specialty and operations associates, according to the NLRB filing. The petition was originally filed earlier, ...

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• 22 September

  Putin mobilises more troops, wields Ukraine nuclear threat

  

  Bloomberg President Vladimir Putin declared a “partial mobilization,” calling up 300,000 reservists, in a major escalation of his flagging invasion of Ukraine, which he portrayed as a fight to the death with the US and its allies. As Russia moves to annex occupied Ukrainian territory, Putin also renewed his warnings of a nuclear threat. “When the territorial integrity of our ...

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• 22 September

  Biden, Democrats push ‘dark-money’ disclosure bill

  

  Bloomberg President Joe Biden and congressional Democrats are making a pre-election push for legislation targeting so-called dark money groups, despite the party’s own heavy reliance on these anonymous donors. The legislation, which would require disclosures of large political donations, is almost certain to fail amid strong GOP opposition. But it gives Democrats a chance to make a political point less ...

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• 22 September

  Congo’s leader criticises Rwanda over alleged incursions, rebel support

  

    Bloomberg Democratic Republic of Congo’s President Felix Tshisekedi excoriated Rwanda for alleged incursions by its army and its support for a rebel group in his country’s eastern region in a wide-ranging speech at the United Nations General Assembly. Tshisekedi cited a report by UN experts that accuses Rwanda of backing the M23 rebel group, which occupies a small part ...

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• 22 September

  Britain looks at QE change to avert £10bn payout to banks

  

  Bloomberg UK Prime Minister Liz Truss’s new government has looked at changing the Bank of England’s (BOE) money-printing program to save the UK taxpayer billions of pounds at a time when the public finances are under increasing strain. Under the option, interest paid on some deposits held by commercial lenders at the BOE would be scrapped, potentially saving more than ...

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• 22 September

  RBC merges tech banking, ventures under ‘RBCx’

  

    Bloomberg Royal Bank of Canada (RBC) is merging its RBC Ventures partnership group with its RBCx technology banking and innovation arm in a bid to capture more business from entrepreneurs at all stages of their startups’ growth. Sid Paquette, who has led both RBCx and Ventures since April, will head the combined business, the Toronto-based bank said in a ...

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• 22 September

  Rakuten to pick Goldman, Daiwa for banking IPO

  

    Bloomberg Rakuten Group Inc has chosen Goldman Sachs Group Inc and Daiwa Securities Group Inc as lead managers for its banking unit’s initial public offering, people familiar with the matter said, as the online retailer chases fintech growth to counter mounting losses. Rakuten is preparing to list its banking unit with a valuation of around 300 billion yen ($2.1 ...

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• 22 September

  Indian IPOs to pick up within six months: Bank of America

    Bloomberg Bank of America Corp expects initial public offerings in India will regain their recent momentum as soon as in the first quarter of next year, bolstered by the underlying strength of the market. “I think IPOs have taken a breather but it will be probably three to six months away from coming back,” Debasish Purohit, co-head of India ...

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• 22 September

  Chubb in talks for tie-up with Hang Seng Bank

    Bloomberg Chubb Ltd is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd, a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter. The parties are hammering out the details of a transaction that could be agreed over the coming weeks, the people said, asking not to be ...

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