August, 2022

• 4 August

  For now, corporate hope cushions tech sector

  The latest raft of technology earnings is starting to show a clear divide between areas that may continue to grow and those that will most certainly suffer at the hands of a global economic slowdown. Whether the more resilient sectors succumb, or conversely, drive a rebound in the parts that slumped, will be a key issue to watch over coming ...

  Read More »
• 4 August

  Fed can’t stop wishful thinking of bond traders

    Ever since traders erroneously interpreted Federal Reserve Chair Jerome Powell’s July press conference as dovish, US short-term bond yields have completed a round trip, with the market now essentially back to where it started a week ago. That gets bonds closer to realistic pricing in the face of the worst inflation in 40 years, but much more upheaval could ...

  Read More »
• 4 August

  Pelosi vows US won’t abandon Taiwan in face of China threats

  

  Bloomberg House Speaker Nancy Pelosi pledged that the US wouldn’t abandon Taiwan, reaffirming American support for the democratically elected government in Taipei despite threats of fresh trade curbs and military actions by Beijing. Pelosi made her comments on Wednesday during a Presidential Office ceremony with Taiwanese leader Tsai Ing-wen. The California Democrat’s arrival in Taiwan late Tuesday made her the ...

  Read More »
• 4 August

  Nato must dig in for long deployment in east, Romania warns

  

    Bloomberg It’s “wishful thinking” to expect relations between Russia and the West to return to their pre-war status soon after the fighting stops in Ukraine, as the Kremlin appears bent on creating a buffer between itself and Nato, Romania’s prime minister said. Nicolae Ciuca, a retired general who once led combat forces in Iraq, said Russia’s invasion has re-opened ...

  Read More »
• 4 August

  Serbia, Kosovo may resume EU-mediated talks after flare up

    Bloomberg Serbia and Kosovo may resume European Union-mediated talks on mending ties later this month following weekend tensions over identification cards and car plates. The meeting in Brussels could take place on Aug. 18, Serbian President Aleksandar Vucic told state broadcaster RTS late Tuesday. Kosovo government spokesman Perparim Kryeziu said the meeting is expected in the third week of ...

  Read More »
• 4 August

  Three die in new clashes between Azerbaijanis and Armenians

    Bloomberg At least three soldiers were killed in fighting between Azerbaijani and Armenian forces in disputed territory that’s overseen by Russian peacekeeping troops as part of a truce deal that halted a 2020 war. Two Armenian serviceman died and 14 were wounded when Azerbaijani troops fired grenade-launchers and used attack drones, the defense army of the unrecognized Nagorno-Karabakh Republic ...

  Read More »
• 4 August

  Maersk sees record $31 billion profit as shipping rates surge

  

  Bloomberg AP Moller Maersk A/S raised its profit forecast for this second time this year after congestion on trade lanes boosted global freight rates, creating an “exceptional market” for transport companies. Maersk, which controls about one-sixth of the world’s container trade, and its peers have benefited from supply-line disruptions as a shortage of shipping capacity has enabled them to charge ...

  Read More »
• 4 August

  France experiences driest July on record

  

  Bloomberg France experienced its driest July on record as searing heat spread across Europe, putting strain in key crops. The average precipitation across the country was 8.1 millimeters, making it the driest month since March 1961, forecaster Meteo France said on its website. Rainfall in Brittany, Auvergne and Corsica was at least 95% below the norm. The scorching temperatures and ...

  Read More »
• 4 August

  Spain warns heatwave threatens olive oil output

  

    Bloomberg Relentless heatwaves blasting Spain this summer threaten to sink production of olive oil from the world’s top exporter of the cooking ingredient, according to Agriculture Minister Luis Planas. If there is no temperature relief or rains in the coming weeks, this year’s olive harvest could be notably lower than previous ones,” said Planas in an interview, declining to ...

  Read More »
• 4 August

  Oracle cuts jobs in US customer unit

    Bloomberg Oracle Corp cut jobs in marketing and the US customer experience division, signalling a pullback in customer analytics and advertising services. Some workers were told that their positions had been eliminated. Junior sales employees as well as a division sales director were among those let go, according to one former worker who lost their job and asked not ...

  Read More »