August, 2022

• 1 August

  South Korea ruling party acting leader offers to quit

    Bloomberg The acting leader of South Korea’s ruling party offered to resign over in-fighting in the People Power Party, adding to the growing woes for new President, Yoon Suk Yeol, whose approval ratings have plunged to historic lows. “Our party is currently facing a grave crisis,” Kweon Seong-dong, the acting leader of the People Power Party, said in his ...

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• 1 August

  Fidel Ramos, who helped end Marcos dictatorship, dies at 94

  

    Bloomberg Fidel Ramos, the former Philippine president who was head of the national police under Ferdinand Marcos before defecting and joining the “People Power” protests that ousted the dictator in 1986, has died. He was 94. Ramos’ family announced his passing in a statement on Sunday, without giving a cause of death. He died of complications from Covid-19, according ...

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• 1 August

  US poised to deliver bumper wheat crop world badly needs

  

    Bloomberg The US is poised to deliver a bumper spring wheat crop in the upcoming weeks, which if realized could help relieve global shortfalls caused by turmoil in the Black Sea. Fields in North Dakota, the top producing US state, are forecast to yield a record high 49.1 bushels per acre of the grain, according to the final estimate ...

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July, 2022

• 31 July

  Canada economy is losing momentum after strong start to 2022

  

  Bloomberg Canada’s economic expansion showed signs of moderating in May and June, pulling back from a strong start to the year in the face of high inflation and rising interest rates. Output in June was on track for a small increase of 0.1% after stalling in May, Statistics Canada said. That follows three months of better growth between February and ...

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• 31 July

  Britain’s housing market feels heat from rising interest rates

  

    Bloomberg The UK’s bleak economic outlook and rising interest rates are finally biting into the country’s housing market, the latest figures from Britain’s lenders show. NatWest Group Plc reported net mortgage growth of £3.3 billion ($4 billion) in the second quarter, down from £3.6 billion in the same period last year. Barclays Plc reported near stagnant growth in home ...

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• 31 July

  Danish inflation continues to accelerate

    Bloomberg Denmark’s producers of food and beverages expect to raise prices further in the coming quarter, signalling that inflation in the Nordic country is yet to peak. In a survey by Statistics Denmark, 81% of the food makers said they expect prices to increase in the coming three months, up from 76% a month ago. In the overall retail ...

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• 31 July

  European industry increasingly worried about its prospects

  

    Bloomberg Manufacturers across the euro area are getting more worried about the economic outlook. The industrial confidence, a gauge compiled by the European Commission, dropped to a 17-month low this month and fears of energy shortages and never-ending supply chain disruptions are weighing heavily on the sector. Of the major four economies, only the readings for Germany were above ...

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• 31 July

  Gen Z uses TikTok like Google

  

    Bloomberg Google is for search. TikTok is for entertainment. At least that’s how it used to be. But for the rising generation of teens and young adults, TikTok is becoming the place to find information, taking on the functions of established internet giants. The service, which boasts more than a billion users, is more than just an app where ...

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• 31 July

  Meta repeats threat it may pull Facebook, Instagram from Europe

  

    Bloomberg Meta Platforms Inc. reiterated its threat to pull its popular Facebook and Instagram services from the European Union if a new transatlantic data transfer pact doesn’t materialise. Its latest warning comes amid an imminent data flow ban it already faces from Ireland’s data protection watchdog, which oversees the tech giants based in the country. The Irish Data Protection ...

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• 31 July

  Xiaomi’s $10bn EV project hits regulatory barrier

  

  Bloomberg Xiaomi Corp is facing difficulties getting regulatory approval for its electric vehicle project in China, an unexpected hurdle for the smartphone giant’s $10 billion car-making endeavour. The Beijing-based company has been talking to officials at the National Development and Reform Commission (NDRC) about the licensing for months without success, according to people familiar with the matter. Xiaomi is one ...

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