September, 2022

• 21 September

  Sports Direct owner loosens his grip on Frasers Group

  

    Bloomberg Mike Ashley is stepping down from the board of Frasers Group Plc four decades after he founded his retail business and just months after son-in-law Michael Murray became CEO of the Sports Direct-owner. The 58-year-old Ashley still holds an almost 70% stake in Frasers and said he remains “100% committed” to the business even though he won’t seek ...

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• 21 September

  US Halloween spending to hit $10.6b: NRF

    Bloomberg With the pandemic waning, the US is gearing up for pre-pandemic levels of trick-or-treating, despite inflation levels not seen for 40 years. Undeterred by soaring prices, 69% of consumers are planning to celebrate Halloween this year compared with 68% in 2019, the National Retail Federation (NRF) said. A survey commissioned by the trade group found that consumers plan ...

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• 21 September

  Russia’s Putin hurries to annex occupied Ukraine as Kyiv gains

  

  Bloomberg The Kremlin is moving hastily to stage sham votes on annexing the regions of Ukraine its forces still control, after Kyiv’s military drove Russian troops from large areas of territory taken in their seven-month-old invasion. The so-called Donetsk and Luhansk People’s Republics, as well as Kherson, may hold their votes as soon as this weekend, Interfax quoted officials as ...

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• 21 September

  Ukraine’s foreign minister urges West to send more weapons

  

  Bloomberg Ukrainian Foreign Minister Dmytro Kuleba urged western nations to supply more weapons so his government can press ahead with its counteroffensive against Russian forces. Kuleba said in an interview Monday with Bloomberg Television that Ukraine wants to add to its recent territorial gains and deny Russian President Vladimir Putin any strategic advantage gained since his army invaded on Feb. ...

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• 21 September

  Marcos embarks on US charm offensive in shift from Duterte

  

    Bloomberg Philippine President Ferdinand Marcos Jr. said he can’t envision his country without the US as a partner, marking his strongest statements yet on the longstanding alliance undermined by his predecessor. Marcos, who’s in New York for the UN General Assembly, said he sees a “further strengthening” of political and economic ties with the US. “It is very clear ...

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• 21 September

  Serbia won’t let Kosovo join UN despite strong Western pressure

  

  Bloomberg There is no chance that Serbia will let Kosovo join the United Nations despite intense pressure from the US and European nations, Serbian President Aleksandar Vucic said. Serbia still regards its former province, which declared independence in 2008 almost a decade after the two sides fought a war on mostly ethnic lines, as its territory. Belgrade relies on veto-wielding ...

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• 21 September

  World’s youngest leader electrifies UN assembly

    Bloomberg The world’s youngest leader, Chile’s President Gabriel Boric, sounded the alarm on the risk of social unrest, reminding his more experienced colleagues gathered at the United Nations that discontent that exploded locally can be repeated around the world. Boric said at the UN General Assembly that outrage over inequality and poor basic services can lead to uprisings in ...

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• 21 September

  Japan, South Korea seek resolution on wartime labor

    Bloomberg Top diplomats from Japan and South Korea agreed in New York to continue to seek a resolution on the issue of Korean labor conscripted to work in Japanese factories and mines during World War II. Japanese Foreign Minister Yoshimasa Hayashi and South Korean counterpart Park Jin also agreed to cooperate on the security threat posed by North Korea ...

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• 21 September

  China banks keep lending rates unchanged after PBOC pauses

  

  Bloomberg Chinese banks kept their main lending rates unchanged after the central bank paused its monetary easing and defended a weakening yuan, though a cut is still expected by economists in the coming months to counter headwinds to growth. The one-year loan prime rate (LPR) was left at 3.65%, according to a statement by the People’s Bank of China (PBOC). ...

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• 21 September

  British pound, euro are in a ‘doom loop’: TD experts

  

  Bloomberg The Bank of England (BOE) has limited power to stop the downward spiral in the UK pound, said strategists at TD Securities, who are predicting more losses in the coming months. The pound and euro are trapped in a “doom loop” caused by soaring energy prices that feed into weaker economic growth and lower currency values, wrote strategists including ...

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