February, 2022

• 9 February

  Macron shields French from some price pain before polls

  

    Bloomberg French President Emmanuel Macron’s price caps to stop a cost-of-living crisis colliding with April’s elections will slow inflation by about one percentage point at the start of 2022, according to Insee. The government has earmarked 15.5 billion euros ($17.7 billion) to curb the impact of inflation for households, most of which for mechanisms to limit the effect of ...

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• 9 February

  Glaxo expects profit to rise as drugmaker prepares for split

  

    Bloomberg GlaxoSmithKline Plc expects profit to rise this year as the UK drugmaker prepares to spin off its consumer-health business, its biggest shake-up in more than two decades. Earnings for the pharma and vaccines businesses are expected to rise 12% to 14% in 2022 on an adjusted basis, Glaxo said on Wednesday. The shares rose as much as 1.4% ...

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• 9 February

  US, EU to resume shellfish trade after 10-year dispute

    Bloomberg The trade of molluscan shellfish between the European Union and the US is set to resume following a 10-year break after the two sides resolved regulatory disputes. Sales of mussels, clams, oysters and scallops will resume at the end of this month, the European Commission said after it adopted legislation to that effect. Two EU member states, Spain ...

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• 9 February

  Maersk buys trucking company to shore up road-transport business

  

    Bloomberg AP Moller-Maersk agreed to buy Pilot Freight Services LLC for $1.68 billion, shoring up its road-transport business while signaling an unprecedented boom in container shipping may be starting to fade. The deal announced on Wednesday coincides with a 2022 profit forecast that falls well below analysts’ estimates. Maersk said it expected a strong first half before a “normalisation ...

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• 9 February

  PriceRunner sues Google for $2.4bn

    Bloomberg Alphabet Inc’s Google is being sued by Nordic price comparison provider PriceRunner AB for about $2.4 billion at Stockholm’s patent and market court. The lawsuit follows the conclusion of a legal ruling in the European Union that established Google has breached antitrust laws by manipulating search results in favour of its own comparison-shopping services, PriceRunner said. “This is ...

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• 9 February

  Microsoft in talks to buy security firm Mandiant

  

    Bloomberg Microsoft Corp is in talks to acquire cybersecurity research and incident response company Mandiant Inc, a deal that would bolster efforts to protect customers from hacks and breaches. The deliberations may not result in an offer, said the people, who asked not to be identified because the talks are private. Mandiant and Microsoft declined to comment. Mandiant shares ...

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• 9 February

  China state funds’ support gives hope for wounded stock market

  

    Bloomberg Chinese state-backed funds’ intervention in domestic stock markets is rekindling hope that a bottom is near for the nation’s battered equities. The CSI 300 Index ended down just 0.6% at the close, paring an earlier slump of 2.4%, which was its biggest intraday drop since August. State-related funds entered the market to buy local shares in the afternoon ...

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• 9 February

  Stocks, US futures rise as bond selloff abates

  

    Bloomberg Stocks and the US index futures rise on Wednesday and a selloff in sovereign bonds paused, bringing some relief for markets whipsawed in recent weeks by concerns about tightening monetary policy. The Stoxx Europe 600 index rises more than 1% as technology shares bounced back and a raft of generally positive earnings reports lifted sentiment. Adyen NV jumped ...

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• 9 February

  Aldar awards over AED8.5b worth of contracts in 2021

  

    Abu Dhabi / WAM Aldar Properties (Aldar) announced on Tuesday, that contracts awarded across its development projects in 2021 reached more than AED8.5 billion. The volume and value of work undertaken by Aldar in 2021 highlights an economic rebound in Abu Dhabi following the impact of the pandemic in 2020 and a boost to the emirate as a destination ...

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• 9 February

  US to help UAE improve air defence system

  Abu Dhabi / WAM The UAE’s air defence system has been very effective to thwart recent missile attacks on the country; still, the United States will work with the UAE to further improve the system, a top US military commander told the Emirates News Agency (WAM). General Kenneth F McKenzie, Commander of the US Central Command (Centcom), added in an ...

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