August, 2022

• 10 August

  China military drills show preparation for possible invasion, Taiwan says

  

    Bloomberg China used US House Speaker Nancy Pelosi’s visit to Taipei as a pretext to prepare for a possible Taiwan invasion and expand its control throughout the region, the island’s foreign minister said, adding Beijing had been planning the move for some time. China’s recent military drills in the seas and air around Taiwan were aimed at changing the ...

  Read More »
• 10 August

  Zelenskiy lauds Biden over ‘unprecedented’ aid

    Bloomberg Ukrainian President Volodymyr Zelenskiy expressed his gratitude to US President Joe Biden for what he called “another unprecedented security aid package” to help the country defend itself against Russia’s invasion. Biden’s administration earlier announced $4.5 billion in additional direct budgetary support and $1 billion more in military aid, the largest drawdown from existing inventories since the war began, ...

  Read More »
• 10 August

  UK economy probably entered its worst slump since lockdown

  

    Bloomberg The UK economy probably shrank for the first time since the nation was in a coronavirus lockdown at the start of 2021, adding to pressure for action from the contenders vying to take over as prime minister. Gross domestic product for the second quarter probably shrank 0.2%, according to a survey of economists by Bloomberg News ahead of ...

  Read More »
• 10 August

  Apple slows pace of dealmaking even as its tech peers plow ahead

  

    Bloomberg Apple Inc, which used to acquire a company every three or four weeks, has dramatically slowed its dealmaking in the past two years, a sign the tech giant is being more choosy in the face of a shaky economy and heightened government scrutiny. The company spent just $33 million on payments connected to acquisitions in its last fiscal ...

  Read More »
• 10 August

  Pfizer buys Global Blood Therapeutics for $5.4bn

  

    Bloomberg Pfizer Inc has agreed to buy Global Blood Therapeutics Inc, the maker of a drug for sickle-cell disease, in a deal worth $5.4 billion. The New York drug giant will pay $68.50 for all outstanding shares of Global Blood, the companies said in a statement before US markets opened. That’s double the price of the stock on August ...

  Read More »
• 10 August

  Veolia to sell Suez’s UK waste unit for $2.4bn

    Bloomberg Veolia Environnement SA agreed to sell Suez SA’s waste activities in Britain to Macquarie Group Ltd. for 2.4 billion euros ($2.44 billion) after the country’s antitrust authority raised competition concerns. Veolia’s announcement, confirming an earlier Bloomberg News report, marks the last step in its acquisition of a large chunk of French rival Suez, which was completed in other ...

  Read More »
• 10 August

  Hungary inflation soars

    Bloomberg Hungarian inflation accelerated to the fastest in 24 years, offering no reprieve for a central bank that’s raised interest rates by most in the EU. Consumer prices rose 13.7% in July from a year earlier, exceeding all estimates in a Bloomberg survey. Core inflation, which strips out volatile commodity prices, was even higher at 16.7%, pointing to broad-based ...

  Read More »
• 10 August

  US futures mixed amid focus on earnings, inflation report

  

    Bloomberg US equity-index futures were mixed and the dollar fell as investors bet a strong earnings performance can continue despite recent disappointments. European stocks fall. Contracts on the S&P 500 ticked higher while those on the Nasdaq 100 slipped after the losses driven by NVidia Corp.’s revenue miss. Treasuries dipped, with the 10-year benchmark yield rising three basis points ...

  Read More »
• 10 August

  A wave of analyst optimism is a red flag to Citigroup strategists

  

  Bloomberg Highly optimistic analyst stock recommendations are flashing a warning signal for equity market rally, according to Citigroup Inc. strategists. An index of global sell-side ratings “is back to peak bullishness levels reached in 2000 and 2007, after which global equities halved,” strategists led by Robert Buckland wrote in a note. While analysts always have more buys than sells, “they ...

  Read More »
• 9 August

  Sharjah supports low-income families with AED10.3 million

    Sharjah / WAM The Sharjah Charity International (SCI) announced that its monthly assistance targets the needy category of people with low-income families in order to guarantee them a decent life and meet their living needs government aid. The association was able to provide monthly aid throughout the first half of this year, with a financial value of AED10.3 million, ...

  Read More »