June, 2022

• 18 June

  Biden-Xi call is under consideration amid US-China tensions

  

  Bloomberg US officials are working to arrange a possible call this summer between President Joe Biden and Chinese President Xi Jinping, according to two people in Washington familiar with the plans, with tensions high between the world’s two biggest economies. The people didn’t have more details on what the US would want to be the focus of the call, but ...

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• 18 June

  Modi faces backlash with short-term Indian army enlistment

  

    Bloomberg Protests continued across India for the second straight day over a shift in the army’s recruitment policy to short-term jobs, putting pressure on Prime Minister Narendra Modi who has pledged to boost employment in one of the fastest growing economies in the world. Television footage showed crowds of protesters, who appear to be potential recruits, setting fire to ...

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• 18 June

  Colombia’s history of violence divides families

  

  Bloomberg Colombia’s presidential election this weekend is more than just a choice between political models —it’s a contest that’s dividing the generations like no other. Gustavo Petro, 62, a former guerrilla fighter who says he wants to end an economic model based on oil and coal, has a wide lead among younger voters who grew up during during the relative ...

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• 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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