June, 2022

• 24 June

  Tesco CEO says shoppers are ‘terrified’ of inflation

    Bloomberg More than 75% of people are “terrified” of the effect the cost-of-living crisis will have on their families, according to the head of UK’s largest supermarket. Tesco Plc Chief Executive Officer Ken Murphy said the grocer has done a lot of research about how people are feeling right now as they battle the worst inflation to hit Britain ...

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• 24 June

  TUI CEO to quit after handling Covid crisis

    Bloomberg TUI AG Chief Executive Officer Fritz Joussen is set to leave after almost 10 years at the helm of the world’s biggest tour operator, having steered the company through the Covid-19 crisis. Joussen, 59, will step down at the end of September, according to a statement. Chief Financial Officer Sebastian Ebel will replace him and Mathias Kiep, the ...

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• 24 June

  Joe Biden limps to G-7 as allies fret over his troubles at home

  

  Bloomberg US President Joe Biden’s political fortunes have changed dramatically since his first Group of Seven summit last summer, or even his last visit to Europe in March. It couldn’t come at a worse time for his international allies as Russia settles into a long war with Ukraine. German Chancellor Olaf Scholz, who will welcome G-7 leaders in the Bavarian ...

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• 24 June

  China’s ambassador to Australia heckled by Sydney protesters

  

  Bloomberg China’s chief envoy to Australia was heckled by several protesters in Sydney on Friday as he delivered a speech that attempted to go some way towards repairing relations between the trading partners. One shouted about the detention of members of the Uighur minority group in China, while another protester called ambassador Xiao Qian “a disgrace” as he addressed the ...

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• 24 June

  Xi’s Hong Kong trip in doubt as officials get Covid

  

  Bloomberg President Xi Jinping’s rumored visit to Hong Kong to mark the city’s 25th anniversary of Chinese rule is in doubt after top officials in the city came down with Covid. Two senior members of incoming Chief Executive John Lee’s cabinet — including his No. 2 — have tested positive for the virus, the government revealed in a Thursday statement. ...

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• 24 June

  Bolsonaro, stuck in election race, plans cash handouts

    Bloomberg President Jair Bolsonaro is considering increasing monthly stipends paid to about 18 million poor Brazilian families as opinion polls show his re-election campaign failing to close the gap with front-runner Luiz Inacio Lula da Silva less than four months before the vote. The idea is to boost payments made through a cash transfer program known as Auxilio Brasil ...

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• 24 June

  Boris Johnson’s Tory chair quits after double election blow

  

  Bloomberg The chairman of Boris Johnson’s ruling Conservatives resigned after the party lost two key parliamentary seats in one night, raising fresh concerns about Johnson’s leadership and his faltering popularity with voters. The elections “are the latest in a run of very poor results for our party,” Oliver Dowden said in a letter to Johnson posted on Twitter. “We cannot ...

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• 24 June

  UK government spent $459b on Covid pandemic response

  

    Bloomberg The coronavirus pandemic, marked by an ambitious vaccine rollout, has cost the UK government an estimated £376 billion ($459 billion). The figure released by the National Audit Office has increased by £6 billion over the last ten months, with much of the expense going to support train traffic even as the passenger numbers dwindled. The amount — more ...

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• 24 June

  Canada inflation rises to 7.7%, fastest since 1983

  

    Bloomberg Consumer price inflation accelerated to a four-decade high, adding pressure on the Bank of Canada to deliver more aggressive interest rate hikes in the coming weeks. Annual inflation rose to 7.7% last month, up from 6.8% in April, Statistics Canada reported in Ottawa. That’s the highest since January 1983 and well above economist expectations for a 7.3% increase. ...

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• 24 June

  New York’s biggest mall avoids default with lender reprieve

  

    Bloomberg New York’s biggest mall has reached a deal with lenders to avoid a default after the pandemic and years of retail turmoil left it deeply underwater on its mortgages. Destiny USA, a 2.4 million-square-foot (223,000-square-meter) shopping center in Syracuse, owed $430 million on two mortgage-backed securities that missed a June 6 repayment deadline. The mall’s owner, Pyramid Management ...

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