June, 2022

• 18 June

  Bolsonaro: Petrobras risks Brazil chaos by raising fuel prices

    Bloomberg President Jair Bolsonaro criticized an expected increase in domestic fuel prices by Petroleo Brasileiro SA, saying the state-owned oil producer has made exaggerated profits during the crisis, without taking into account Brazil’s “public interest.” “Petrobras may plunge Brazil into chaos,” Bolsonaro said in a Twitter post early Friday, referring to the oil giant. “Its chief executive, directors and ...

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• 18 June

  EU clashes with Hungary over implementing global tax deal

  

    Bloomberg French Finance Minister Bruno Le Maire said he is determined to get a European Union agreement on a global corporate minimum tax, setting up a clash with Hungary at a meeting of officials in Luxembourg on Friday. Disagreements over how to implement the levy have dogged France’s six month presidency of the EU that concludes at the end ...

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• 18 June

  Germany’s steel workers win highest pay rise in 30 years

  

    Bloomberg Germany’s biggest union said it has won a 6.5% pay rise — the biggest in 30 years — for steel workers in the northwest of the country, setting the stage for upcoming talks in the metals- and electronics industries. The 18-month deal for about 68,000 steel industry employees includes one-off payments of 500 euros ($524) for June and ...

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• 18 June

  Europe car sales decline in May to fall for almost a year

  

    Bloomberg Europe’s new-vehicle sales slumped for an 11th consecutive month as record inflation and falling consumer confidence joined prolonged supply-chain disruptions. Registrations fall 12.5% to 948,149 vehicles in May, the European Automobile Manufacturers’ Association said. Hardest-hit among major automakers was Volkswagen AG, which saw sales drop by more than 21% from the same month last year. After nearly a ...

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• 18 June

  Telus buys digital-health firm LifeWorks

    Bloomberg Canadian telecommunications company Telus Corp. said it will acquire digital-health provider LifeWorks Inc. for about $1.8 billion, expanding further into health services as it pursues a diversification strategy. Telus will pay C$33 for each LifeWorks share and is offering the option to take cash or stock or a mix of the two. It’s about an 80% premium to ...

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• 18 June

  EU’s once-hyped privacy law faces ‘crunch time’ for revamp

  

    Bloomberg One of the architects of the European Union’s sweeping General Data Protection Regulation (GDPR) admitted the law needs a revamp to ensure its fit for purpose amid growing attacks on citizens’ privacy. Four years after it took effect, European Commission Vice President Vera Jourova said “targeted improvements” are now needed to the GDPR “in the age of tools ...

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• 18 June

  Stock markets get crushed as recession worries mount

  

    Bloomberg Stocks tumbled around the globe as recession fears resurfaced, with the Federal Reserve struggling to get on top of inflation that has proved more persistent and widespread than officials anticipated. The S&P 500 closed at its lowest since December 2020, while the tech-heavy Nasdaq 100 sinks 4%. The deal spread on Elon Musk’s proposed takeover of Twitter Inc. ...

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• 18 June

  Crypto selloff resumes as post-Fed mood in global markets sours

  

    Bloomberg The selloff in the digital-asset space accelerated, with losses in US equities also snowballing, a day after the Federal Reserve raised interest rates by the most in decades. Ether, down as much as 8.3% to trade around $1,080, is facing a tougher road than most. The native token for the Ethereum blockchain is on pace to decline for ...

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• 17 June

  FNC becomes observer member at LatAm, Caribbean Parliament

  

    Abu Dhabi / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), said the decision of the Latin America and Caribbean Parliament (Parlatino) to make the UAE, represented by the FNC, an observer member will strengthen the cooperation between the two sides and support the efforts to enhance the economic, social, cultural and political relations between the UAE ...

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• 17 June

  Dubai records AED18.4bn worth of realty deals in May

  

    Dubai / Gulf Time According to Mo’asher, Dubai’s official sales price and rental performance index launched by Dubai Land Department (DLD) in cooperation with Property Finder, Dubai’s real estate market records a total of 6,652 sales transactions worth AED18.4 billion in May, the highest volume of transactions for the month in the past decade. The sales transaction volume during ...

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