June, 2022

• 4 June

  Orban’s ‘risky’ sanctions path weakens EU: Czech minister

  

  Bloomberg Hungary’s obstinate approach towards negotiating sanctions against Russia are undermining European Union unity and weakening the bloc’s position on the world stage, a senior Czech official said. Czech Minister for European Affairs Mikulas Bek said Hungarian Prime Minister Viktor Orban’s stonewalling against efforts to pass a sixth package of EU sanctions, including an embargo on most Russian oil, had ...

  Read More »
• 4 June

  Putin’s Ukraine invasion forces Biden to rewrite American security plan

  

  Bloomberg Russian President Vladimir Putin’s invasion of Ukraine has prompted a major rewrite of the Biden administration’s National Security Strategy, according to people familiar with the matter. Early versions of the text, which is still being finalised, show how the administration’s priorities are shifting in response to Putin’s war in Ukraine and the burgeoning partnership between Beijing and Moscow. The ...

  Read More »
• 4 June

  Estonian PM ends coalition after infighting

  

  Bloomberg Estonian Prime Minister Kaja Kallas ended her 16-month governing coalition after weeks of political squabbling, saying she’ll seek to form a new alliance as the Baltic nation confronts its biggest security threat in decades. “There needs to be a functioning government that has shared values,” Kallas, the 44-year-old leader whose popularity has soared with her hard line on Russian ...

  Read More »
• 4 June

  Brazil’s Lula seeks growth with fiscal responsibility

  

  Bloomberg Brazil’s Luiz Inacio Lula da Silva plans to boost growth with a campaign against hunger and a program of government-led investments if elected president, all of that without jeopardising fiscal accounts, according to one of his closest aides. Alexandre Padilha, one of Lula’s many representatives in talks with financial markets ahead of the October vote, says that investors need ...

  Read More »
• 4 June

  Colombian president expects voters to reject Venezuela model

  

  Bloomberg Colombian voters will reject the socialist “Venezuelan model” when they go to the polls in just more than two weeks to decide between the two candidates who’ve qualified for the nation’s runoff election, the outgoing president predicted. “In this election, people are going to go to the polls and definitely say ‘no’ to the Venezuelan model that some want ...

  Read More »
• 4 June

  Argentina expects record $90b exports on commodities boom

  

  Bloomberg Argentina’s government is expecting record export levels this year as the nation benefits from the surge of commodity prices. South America’s second-largest economy is forecast to export $90 billion of goods this year, according to a senior government official who asked not to be named to discuss unpublished projections. That would be at least a 15% jump from last ...

  Read More »
• 4 June

  Slump in new car sales raises specter of US recession

  

  Bloomberg Slumping US new car sales in May on continued high prices and low inventories have some analysts worried those lower-than-expected results could be a harbinger of a broader economic downturn. Sales of new cars last month fall to 12.8 million vehicles at a seasonally adjusted annualized rate, representing an 11% drop from April, according to data compiled by Wards ...

  Read More »
• 4 June

  Toronto home prices decline for third straight month as rates rise

  

  Bloomberg Toronto home prices fell for the third straight month, as rising interest rates spur an abrupt reversal in a city recently at the heart of one of the world’s hottest housing markets. The average selling price for a home in Canada’s largest city fell 3.1% in May to about $939,000 on a seasonally-adjusted basis, according to data from the ...

  Read More »
• 3 June

  Euro area confidence inches up in May

    Bloomberg Confidence in the euro area economy unexpectedly inched up as fears over rising prices slipped for a second month. A gauge compiled by the European Commission rose to 105 in May — up from a revised reading of 104.9 in April. Economists had expected a slight decline to a 14-month low. Falling confidence among manufacturers was offset by ...

  Read More »
• 3 June

  Telecom Italia seeks $21.5 billion for landline network

  

    Bloomberg Telecom Italia SpA is seeking an enterprise value of around 20 billion euros ($21.5 billion) for the landline network it plans to sell to Italy’s state lender and a group of international funds, according to people with knowledge of the matter. The company’s shares rise as much as 5.9% and traded up 4.5% in Milan following Bloomberg’s initial ...

  Read More »