May, 2022

• 24 May

  Zelenskiy demands to shun Russia, invest in Ukraine at WEF meet

  

  Bloomberg Ukrainian President Volodymyr Zelenskiy said Russia’s economy should be shut off from the world and invited global investors to shift resources into Ukraine to help rebuild the country from the devastation wrought by Vladimir Putin’s war. “This is really the moment when it is decided whether brute force will rule the world,” the Ukrainian leader said in a keynote ...

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• 24 May

  Australia’s Albanese sworn in as next PM

  

  Bloomberg Anthony Albanese has been sworn in as Australia’s 31st prime minister in a short ceremony in Canberra, taking office with a promise of swift action on climate change, greater gender equality and improved wage growth. Albanese moved quickly to be sworn in as Australia’s next leader as the PM is expected to fly out to Japan to take part ...

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• 24 May

  Georgia primary to test Trump’s false claims

  

  Bloomberg The latest test of former President Donald Trump’s sway over Republican voters will wrap up Tuesday night in Georgia’s primaries. So far, it’s not looking good. Former US Senator David Perdue, whom Trump tapped to oust incumbent Republican Governor Brian Kemp, has more than a 20 percentage point disadvantage in polls, in a race Trump once called a top ...

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• 24 May

  UN rights chief says her rare China trip isn’t a probe

  

  Bloomberg The United Nations’ human rights chief told diplomats her trip to Xinjiang wouldn’t be an “investigation,” in an apparent attempt to manage expectations of her landmark visit to China. Michelle Bachelet said her trip aimed to promote, protect and respect human rights, according two people who attended the video call with some 100 participants, who were mostly Beijing-based diplomats. ...

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• 23 May

  Germany backs EU plan to halt budget rules through 2023

  

  Bloomberg Germany supports a plan to suspend European Union rules limiting deficits and debt by an additional year to the end of 2023, according to officials familiar with the government’s stance. The European Commission, the EU’s executive arm, proposed on Monday to maintain the so-called general escape clause of the bloc’s Stability and Growth Pact until the end of next ...

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• 23 May

  US growth projected to outpace China’s for first time since 1976

  

  Bloomberg China’s coronavirus lockdowns mean its economic growth may undershoot the US for the first time since 1976, in a role reversal with potential political reverberations in both Beijing and Washington. The world’s second-largest economy will grow just 2% this year, Bloomberg Economics wrote in a report. By comparison, US gross domestic product will increase 2.8% this year, Bloomberg Economics ...

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• 23 May

  UK urged to cancel corporate tax raise to boost investment

  

  Bloomberg The UK should cancel its planned corporate tax increase in order to ensure Britain remains an attractive place to do business, according to a new report by the Centre for Policy Studies (CPS). The UK’s corporate tax on companies with annual profits of more than £250,000 is due to rise to 25% in April from the current 19% as ...

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• 23 May

  Europe car sales slump 20% in April

    Bloomberg Europe’s new-vehicle sales shrank for a 10th month in a row as the industry remains mired in supply-chain crises that are stoking record inflation and threatening to put off car buyers. Registrations fell 20% to 830,447 vehicles in April, the European Automobile Manufacturers’ Association said, the steepest decline this year. Stellantis, the carmaker formed from the merger of ...

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• 23 May

  Paris tourism rebounds as Europeans, Americans return

  

  Bloomberg Paris tourism is bouncing back as European and American visitors return to take in the sights of the French capital after two years of Covid-related lockdowns and restrictions. The city is the second-most sought-after destination worldwide this year, behind London, according to booking aggregator Trivago. That has steadily pushed up hotel room rates and occupancy since the beginning of ...

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• 23 May

  After $5 trillion rout, emerging markets seek turnaround signal

  

    Bloomberg The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some intrepid investors. The pain points are all too obvious: Stocks have fallen below their average valuations of the past 17 years. Local-currency bond yields have soared through a range that’s held since the 2008 crisis. Spreads on dollar ...

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