July, 2022

• 26 July

  Aldi’s British staff get another pay rise

    Bloomberg Aldi is giving its UK staff a pay rise for the second time this year as the German discount supermarket attracts more shoppers seeking to cope with the higher cost of living. Starting in September, Aldi will pay store workers at least £10.50 ($12.59) an hour and £11.95 in London, the highest pay among supermarkets in Britain, according ...

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• 26 July

  Moscow says Odesa missile strike won’t affect grain plan

  

  Bloomberg Russia said on Monday its missile strike on Odesa targeted a military area and wouldn’t affect plans to resume grain exports from the Black Sea port. Wheat prices have surged since the Russian attack, which came a day after it signed a Turkish-mediated deal to allow safe transit for Ukrainian grain shipments blocked since the war. Ukraine is continuing ...

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• 26 July

  China getting ‘seriously prepared’ for Speaker Pelosi visit to Taiwan

  

  Bloomberg China said it was getting “seriously prepared” for the possibility that Nancy Pelosi visits Taiwan in the coming weeks, underscoring the risk of a showdown between Washington and Beijing over a trip by the US House speaker. Chinese Foreign Ministry spokesman Zhao Lijian made the comment in response to a Financial Times report that Beijing had privately issued warnings ...

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• 26 July

  Pence shows distance from Trump with speech hinting at 2024 run

  

    Bloomberg Mike Pence is getting a one-day head start on rallying the Republican base in Washington before his former boss, Donald Trump, returns to the US capital for the first time since the violent end to his presidency. The timing of the speeches —Pence on Monday, Trump on Tuesday —is shaping up as a contest between the two men. ...

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• 26 July

  Myanmar executes activists in first use of death penalty in decades

  

  Bloomberg Myanmar’s military regime has executed four individuals, including a deposed pro-democracy lawmaker and a prominent activist, in its first use of the death penalty in over three decades, state media reported on Monday. Kyaw Min Yu, also known as Jimmy, a leader of the activist group that opposed former dictator Ne Win, and Phyo Zeya Thaw, a civilian lawmaker ...

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• 25 July

  Truss, Sunak rivalry turns bitter before TV debate

    Bloomberg After a televised Conservative leadership debate exposed the stark divisions among rivals vying to be the next UK prime minister, Rishi Sunak turned to Liz Truss and asked: “Why are we doing this?” Both are now in the runoff to succeed Boris Johnson as Tory party leader. Yet any intentions to try to temper so-called blue-on-blue attacks ahead ...

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• 25 July

  Washington embraces strong greenback to ease inflation

  

  Bloomberg The surge in the dollar this month to its strongest levels in decades has won a tacit endorsement from Washington, offering little official restraint to the currency in a notable shift from past occasions. Congressional hearings with key policy makers including Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell have seen barely a mention of the greenback’s ...

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• 25 July

  As rupee falls, RBI may be back to spot intervention

  

  Bloomberg India’s central bank may be pivoting to the spot market from forwards in its attempts to shield the rupee from fresh record lows — in order to minimise the knock-on effects of its intervention strategy. Reserve Bank of India’s (RBI) foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its ...

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• 25 July

  Worst of market selloff may be over: Julius Baer

  

    Bloomberg Julius Baer Group Ltd said the worst of the market selloff may be over for the Swiss wealth manager after a first half that was one of the most difficult in decades. Clients have started to come back and will probably look for ways to make money again in the second half, CEO Philipp Rickenbacher said. First-half profit ...

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• 25 July

  US futures rise as investors look to tech earnings, Fed

  

    Bloomberg Stocks and US equity futures reversed earlier declines on Monday as earnings expectations outweighed concerns about a possible recession. S&P 500 and Nasdaq 100 futures rose, while European stocks extended gains after their best week since May. China’s property shares pushed higher amid a report that officials plan a fund to support struggling developers. Treasury yields advanced and ...

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