July, 2022

• 20 July

  China warns Taiwan visit by Pelosi to have ‘grave impact’

  

  Bloomberg China vowed to take a “resolute and strong” response to any Taiwan visit by US House speaker Nancy Pelosi, setting the stage for a possible showdown over the reported landmark trip. Pelosi’s plan to lead a delegation to Taipei next month, which was reported by the Financial Times, would have a “grave impact” on US-China ties, Foreign Ministry spokesman ...

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• 20 July

  China denies report Xi invited European leaders to meeting

  

  Bloomberg China flatly denied a report that President Xi Jinping had invited top European leaders to meet him in Beijing later this year, and was still awaiting their response, as tensions fray between Beijing and the bloc. “I don’t know what’s their source of information,” Chinese Foreign Ministry spokesman Zhao Lijian said Tuesday, referencing the South China Morning Post report. ...

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• 20 July

  Race for UK leadership tightens as rivals vie for run-off spot

  

  Bloomberg The battle to succeed Boris Johnson is heating up, with Penny Mordaunt, Liz Truss and Kemi Badenoch vying to join Rishi Sunak in the final run-off after a vote on Monday left the race for second wide open. Conservative Party MPs were expected to vote for a fourth time on Tuesday in the contest to elect Johnson’s successor as ...

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• 20 July

  London’s scorching Tube raises alarm over Europe’s brutal heat

  

  Bloomberg The few commuters who braved the heat of London’s Underground transport system had to endure temperatures deemed too hot to safely transport cattle, showing the brutal conditions sweeping through Europe and impacting everything from transport to food and energy production. Intense heat caused London’s Luton Airport to halt flights for runway repairs, while Wales set a new record and ...

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• 20 July

  Canada’s home prices slide most since 2005

  

    Bloomberg Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country. The benchmark price of a home falls 1.9% in June versus the previous month, according to data by the Canadian Real Estate Association. That’s the third straight month of falling prices, and ...

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• 20 July

  Volvo profit beats despite supply-chain snarls

  

  Bloomberg Volvo AB said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter. “We realise, like everyone else, that the macro-economic measures taken now by central banks must have an effect in order to reduce the inflationary pressures,” Volvo’s Chief Executive Officer Martin Lundstedt said in a phone interview ...

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• 20 July

  Telecom Italia to cut 9,000 jobs by 2030

    Bloomberg Telecom Italia SpA will cut about 9,000 jobs by 2030, equating to around 20% of its Italian workforce, the company said as it presented its new business plan. The job cut total will include all planned and voluntary exits including retirements, a spokesman said, calling it part of the company’s push to create a leaner structure. Telecom Italia ...

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• 20 July

  Fertiliser inflation forces overhaul of Brazil ports, railways

  

  Bloomberg Brazil’s heavy dependence on fertiliser imports is leading to a major upgrade of the nation’s ports, railways and distribution centers. Hundreds of millions of dollars are pouring into Brazil’s logistics infrastructure, all in order to more quickly get fertiliser from ports to inland farms thousands of miles away, which produce the most soybeans, coffee and sugar in the world. ...

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• 20 July

  SoftBank pauses talks for Arm IPO in London amid UK turmoil

  

    Bloomberg SoftBank Group Corp has temporarily paused talks about listing shares of its chips division, Arm Ltd., in London because of turmoil in the UK government, while it continues to pursue an initial public offering (IPO) for the business in New York, according to people familiar with the matter. SoftBank founder Masayoshi Son has repeatedly said his primary focus ...

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• 20 July

  US stock futures climb

  

  Bloomberg US equity futures advanced as investors assessed the outlook for corporate earnings and global growth amid Europe’s deepening energy crisis. The dollar falls against all its group of 10 peers. Contracts on the Nasdaq 100 and S&P 500 climbed 0.9% after early-week gains unravelled on Apple Inc’s plans to slow hiring to brace for a potential economic downturn. The ...

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