May, 2022

• 30 May

  Biden is caught between Big Tech and Black voters

  

  President Joseph Biden couldn’t have beaten Donald Trump in 2020 without the support of Big Tech and Black voters. Donations from Silicon Valley employees and political action committees gave the former vice president a critical cash advantage in the final scramble to election day, while Black voter turnout tipped the balance in key states such as Georgia, Michigan and Pennsylvania. ...

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• 30 May

  US consumer spending at its peak!

  

  The big economic news of the day was that real consumer spending rose in April by the most in three months, helping to push the S&P 500 Index to its biggest weekly gain since March. At first glance, this may be seen as a sign of resilience on the part of consumers despite the highest inflation rates since the early ...

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• 30 May

  Venice has a very old Covid monetary lesson

    We don’t talk much about helicopter money anymore. After a debate that raged through the early days of the pandemic, it’s all but fallen off the map as a topic. That’s hardly surprising, given how radically economic conditions have changed. Rather than worrying about how to shore up a collapsing economy, the issue of the hour is how to ...

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• 30 May

  Ukraine war is replay of Russia’s 1919 atrocities

    “Russia,” predicted a British statesman, “will certainly rise again, perhaps very swiftly, as a great united empire determined to maintain the integrity of her dominions and to recover everything that has been taken away from her. While this process is going on Europe will be in a perpetual state of ferment.” Those warning words were written not in the ...

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• 30 May

  Bachelet to China: Anti-terror actions must respect rights

  

  Bloomberg The United Nation’s top human rights official said any actions by China’s government to address alleged terrorism and reverse what Beijing terms radicalism must not come at the expense of human rights. Michelle Bachelet spoke at a press briefing at the end of her six-day trip to China, which she’s repeatedly said wasn’t an “investigation” of Chinese practices in ...

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• 30 May

  Trump stages rally in Wyoming in bid to defeat Liz Cheney

  

  Bloomberg Former President Donald Trump ripped into Republican US Representative Liz Cheney at a rally in Wyoming, as part of his quest to defeat the incumbent who has emerged as his most vocal and active GOP critic. “Few members of Congress in history have personally caused more damage and destruction to our Republican Party” than Cheney, he said. “She’s aided ...

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• 30 May

  Sri Lanka opposition leader says stability requires new mandate

  

    Bloomberg Sri Lanka needs a new elected government to provide policy stability as it faces its worst economic crisis in generations, according to the leader of the main opposition party. “It’s time for a mandate, a fresh mandate,” Sajith Premadasa of the Samagi Jana Balawegaya party said in a Bloomberg interview. “People don’t want elections, they want solutions. But ...

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• 30 May

  HSBC mulls IPO of Indonesia unit to tap investor demand

  

    Bloomberg HSBC Holdings Plc has been examining an initial public offering of its Indonesian business to tap buoyant investor demand in the world’s fourth-most populous country. Plans for a share sale in Jakarta are at an advanced stage, said people familiar with the plan, asking not to be named discussing an internal matter. It has yet to file a ...

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• 30 May

  Canadian banks see growth in lending despite inflation

  

  Bloomberg The risk of stagflation isn’t causing companies to pull back on investment yet, according to the finance chiefs of some of Canada’s largest banks. “They are ramping up inventories and investing in their businesses. And that’s what’s driving the increased borrowing, whether that’s increasing utilization of lines, which we are seeing, or new borrowing with existing and new clients,” ...

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• 30 May

  RBI sets aside more money for rainy day, payout drops

  

    Bloomberg The Reserve Bank of India’s (RBI) expenditure surged as it tucked away more money towards a contingency fund, its annual report showed, a development economists said cut the central bank’s surplus and led to the smallest dividend payout in a decade to the government. While income rises by 20.1% in the financial year to March 2022, expenditure zoomed ...

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