June, 2022

• 10 June

  Kohl’s takeover saga nears conclusion

  

  The six-month long saga over the fate of Kohl’s Corp is heading towards a conclusion. The department-store chain has entered into a three-week exclusivity period with Franchise Group Inc on a potential $60 per share cash offer, valuing the retailer at about $8 billion, the two companies said. Kohl’s shares rose as much as 11% before closing up 8%. But ...

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• 10 June

  AI needs a babysitter, just like the rest of us

    Back in 2018, Pete Fussey, a sociology professor from the University of Essex, was studying how police in London used facial recognition systems to look for suspects on the street. Over the next two years, he accompanied Metropolitan Police officers in their vans as they surveilled different pockets of the city, using mounted cameras and facial-recognition software. Fussey made ...

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• 10 June

  India’s central bank is getting its way on rates

    Back in February, when India was still in denial about its brewing inflation challenge, economists at Nomura Holdings Inc summarised the choices before the monetary authority into three neat boxes. First, they said, there was a 15% probability that the central bank was right to ignore supply-side pressures. But their base case, to which they assigned a 50% likelihood, ...

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• 10 June

  Zelenskiy urges unity in renewed push for arms

  

  Bloomberg Ukrainian President Volodymyr Zelenskiy urged global leaders to revive the unity they showed during the pandemic and coordinate efforts to deter Vladimir Putin. “Weapons and sanctions are also a vaccine against Covid-22, which was brought by Russia,” Zelenskiy told a TIME100 Gala event via video-link. Fighting continued in the east of Ukraine, where Russian forces are pushing to capture ...

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• 10 June

  Chinese military jet crashes into houses; kills one, injures two

  

    Bloomberg A military jet crashed in central China, killing one local resident and injuring two, according to the state broadcaster. The pilot ejected, but the crash caused an explosion near the airport of Laohekou, in Xiangyang city in China’s central Hubei province, the Xinhua news agency reported. Some houses near the crash site were severely damaged and set on ...

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• 10 June

  Hong Kong to isolate 1,000 people before any Xi visit

    Bloomberg Hong Kong is preparing to cocoon some 1,000 people involved in the city’s July 1 handover anniversary, fueling speculation that Chinese President Xi Jinping will attend the celebrations. Security staff, including police officers protecting a “very, very important person,” will enter the closed-loop system in readiness for hosting an unspecified Chinese state leader, the South China Morning Post ...

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• 10 June

  China lashes out at key Taiwan ally over US-friendly remarks

  

    Bloomberg China blasted Taiwanese opposition leader Eric Chu after he appeared to play down a key agreement between the two sides, in a sign of new frictions between Beijing and its traditional negotiating partner in Taipei. Taiwan Affairs Office (TAO) spokesman Ma Xiaoguang criticised Chu for remarks in the US in which he called the agreement that both sides ...

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• 10 June

  France’s Macron aims to enact pension reform by mid-2023

  

  Bloomberg President Emmanuel Macron aims to reform France’s pension system by the summer of 2023, he told French news outlets in his first extended interview since his re-election in April. The reform, which initially aimed to lift the retirement age from 62 to 65, is essential to financing Emmanuel Macron’s larger ambitions for his second five-year term. He discussed those ...

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• 10 June

  UK economic growth grinding to a standstill

  

    Bloomberg UK economic growth is grinding to a halt as the cost of the living crisis escalates, a leading business lobby warned. The British Chambers of Commerce (BCC) predicted output will be barely higher in the fourth quarter than it was at the end of 2021, with consumers and businesses set to rein in spending as taxes climb and ...

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• 10 June

  Inflation forces almost half of Germans to rein in spending

  

    Bloomberg Nearly half of all Germans can no longer afford their lifestyle as inflation surges from one record to the next, according to a poll conducted for public broadcaster ARD. About 47% indicated they’re strongly or very strongly cutting back on spending. In low-income households, that share rises to more than three-quarters. The survey was conducted among 1,337 Germans ...

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