June, 2022

• 27 June

  Russian strikes on Kyiv ‘more of their barbarism’, Biden says

  

  Bloomberg Russian missiles struck residential buildings in the center of Ukraine’s capital early Sunday, which was condemned by President Joe Biden as “barbarism.” The strikes followed bombardments across in Ukraine’s north and west on Saturday, including missiles launched from Belarusian airspace. “It’s more of their barbarism,” Biden said in response to a question from a reporter about the hit on ...

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• 27 June

  Abortion, gun rulings show Supreme Court ready to ‘jolt’ system

  

  Bloomberg Back-to-back rulings on guns and abortion eliminated any doubt the US Supreme Court will be the transformational force Republicans envisioned when they filled three vacancies during Donald Trump’s presidency. Less than two years after Justice Amy Coney Barrett’s confirmation just before the 2020 presidential election, the court’s conservatives laid bare their willingness to rewrite the nation’s lawbooks and upend ...

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• 27 June

  Boris Johnson says he’ll stay UK prime minister until mid-2030s

  

  Bloomberg Embattled UK leader Boris Johnson said he plans to stick around as prime minister for a third term until the mid-2030s, an act of defiance in the face of mounting political defeats and pressure within his own Conservative Party. Earlier this month, Johnson survived a leadership challenge and there is growing speculation that another confidence vote is being hatched ...

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• 27 June

  Ramaphosa talks tough on corruption

    Bloomberg South African President Cyril Ramaphosa mounted a defense of his corruption-fighting record and promised consequences for the architects of a massive scheme to defraud the state days after the head of a judicial inquiry found that he had stood by while the looting happened. In a column carried by the Sunday Times, Ramaphosa detailed his efforts to rebuild ...

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• 27 June

  Recession fears sink Canadian banks into 20% drop from high

  

    Bloomberg Canadian banks fall about 20% from their record high set in early February as recession fears send investors fleeing. The S&P/TSX Commercial Banks Index, which tracks the country’s eight largest lenders, dropped, adding to another day of losses after inflation in Canada surged to a four-decade high and US data pointed to rising unemployment and slumping manufacturing and ...

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• 27 June

  Barclays agrees to buy mortgage lender Kensington for $2.8b

  

    Bloomberg Barclays Plc has agreed to buy Kensington Mortgage Company Ltd, expanding the reach of its offering in Britain’s housing market. The lender’s UK unit will pay about £2.3 billion ($2.8 billion) for the specialist mortgage lender that is owned by Blackstone Inc. and Sixth Street, according to a statement. Kensington, which is based in Maidenhead, England, and has ...

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• 27 June

  Goldman says signs are here of belt-tightening impact to profits

  

    Bloomberg The first hints that consumer belt-tightening is passing through to corporate earnings are coming in, posing a bigger risk to US equities than stock-selling by American households, according to Goldman Sachs Group Inc. High inflation and declining asset prices have started to strain household finances, Goldman strategists led by David Kostin wrote. They cited the 0.3% drop in ...

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• 27 June

  Payments firm SumUp reaches $8.4b valuation

  

    Bloomberg SumUp has achieved an 8 billion euro ($8.4 billion) valuation in its latest funding round, raising 590 million euros in a deal split between debt and equity in a bid to develop new products and gain clients. Bloomberg News first reported in January that SumUp was considering raising a fresh round of funding. People with knowledge of the ...

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• 27 June

  Credit Suisse may replace top lawyer

    Bloomberg Credit Suisse Group is considering replacing its top lawyer Romeo Cerutti, as the troubled lender struggles to resolve legacy legal issues and focus on looming court battles, people familiar with the matter said. The Zurich-based lender is considering hiring former UBS Group AG general counsel Markus Diethelm, the people said. Diethelm is fresh from exiting as chief legal ...

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• 27 June

  Zimbabwe fines 12 banks

    Bloomberg Zimbabwe penalised 12 banks for “financial indiscipline” that fueled inflation and undermined the currency, the Herald newspaper cited President Emmerson Mnangagwa as saying. The unidentified institutions have received unspecified “hefty penalties,” Mnangagwa told supporters of the ruling party after opening a gold-processing facility, according to the Harare-based paper. The central bank probed a total of 16 lenders suspected ...

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