July, 2022

• 12 July

  Blinken blasts China’s support for Russia, calls out Xi

  

  Bloomberg US Secretary of State Antony Blinken blasted Beijing over its support of Russia after emerging from more than five hours of talks with his Chinese counterpart Wang Yi. During a meeting on the sidelines of a Group of 20 foreign ministers meeting in Bali, Indonesia, Blinken said he told Wang that China wasn’t neutral on the Ukraine war because ...

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• 12 July

  Aussie PM won’t respond to Beijing’s ‘demands’

  

  Bloomberg Australian Prime Minister Anthony Albanese has ruled out complying with a list of demands from the Chinese government to improve relations between the two countries, complicating attempts to repair diplomatic ties between Canberra and Beijing. Speaking to the press in Canberra on Monday, Albanese said Australia “doesn’t respond to demands” when asked about a statement by China’s Foreign Minister ...

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• 12 July

  Ardern heads to summit, pursues Pacific resilience

    Bloomberg New Zealand Prime Minister Jacinda Ardern plans to attend the Pacific Islands Forum Leaders’ Meeting in Fiji this week, just days after the head of state called for more regional co-operation to counter China and amid reports one island member has withdrawn on the conference’s eve. Ardern will go to Fiji from Tuesday to Thursday where she plans ...

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• 12 July

  Australian dollar set to decline further as recession talk grows

  

  Bloomberg Risks are skewed towards the Australian dollar declining even further in 2022 after touching a two-year low this month amid concerns over slowing economic growth. Commonwealth Bank of Australia sees the currency declining to 65 cents versus the greenback by December, from about 68.6 cents last week. Leveraged funds, which were betting on gains as recently as May, are ...

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• 12 July

  ‘Strong ECB crisis tool could stay on the shelf’

  

    Bloomberg European Central Bank (ECB) Governing Council member Yannis Stournaras said a new tool to keep debt-market turmoil at bay as interest rates rise may not need to be used if it’s powerful enough to persuade investors not to test it. In a Bloomberg Television interview in Aix-en-Provence, France, Stournaras said there’s a “very good debate” under way on ...

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• 12 July

  Credit Suisse loses four debt traders

  

  Bloomberg Credit Suisse group is losing four traders from its high-yield and distressed-debt desks just as interest-rate hikes, inflation and volatile markets heighten the need for such expertise. The traders will join British lender Barclays Plc in New York as it beefs up its own credit desks, according to people with knowledge of the moves. Three of those departing are ...

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• 12 July

  This electric three-wheeler brings greener delivery options

  

  Bloomberg In June, the electric bike startup Joco, which rents e-bikes to food delivery workers and other couriers in New York City and Chicago, began testing a new vehicle called the Deliverator. Made in Eugene, Oregon by Arcimoto Inc, the Deliverator is an electric three-wheeler with a “reverse-tricycle” configuration—two wheels in the front and one in the back—that makes it ...

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• 12 July

  Musk laughs off Twitter lawsuit in characteristic meme fashion

  

    Bloomberg Billionaire Elon Musk issued a humorous late-night response to Twitter Inc.’s preparations to sue and force him to complete a $44 billion takeover of the company. Eschewing any words of his own, the Tesla Inc. and SpaceX chief posted a meme late Sunday featuring images of himself laughing with captions recounting one version of events over the past ...

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• 12 July

  Samsung begins mass production of 3-nanometer chips

  

  Bloomberg Samsung Electronics Co. kicked off mass production of 3-nanometer chips that are more powerful and efficient than predecessors, beating rival Taiwan Semiconductor Manufacturing Co. to a key milestone in the race to build the most advanced chips in the world. South Korea’s largest company will begin with 3nm semiconductors for high-performance and specialized low-power computing applications before expanding to ...

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• 11 July

  ‘Netflix slowdown has multiple factors’

    Bloomberg Netflix Inc’s co-chief executive officer is blaming a recent slowdown at the streaming service on multiple factors including inflation’s impact on household budgets, a decline in smart TV sales due to supply chain constraints, and its departure from Russia. “Every customer is asking the question of value of a subscription in relation to its cost,” Ted Sarandos said ...

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