January, 2022

• 6 January

  Biden launches plan to fight meatpacker giants on inflation

  

    Bloomberg President Joe Biden promised to “fight for fairer prices” for farmers and consumers as he announced plans to combat the market power of the giant conglomerates that dominate meat and poultry processing. “Capitalism without competition isn’t capitalism, it’s exploitation,” Biden said. “That’s what we’re seeing in meat and poultry.” Biden joined Agriculture Secretary Tom Vilsack and Attorney General ...

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• 6 January

  German labour market recovers in December

  

    Bloomberg German joblessness continued to fall in December before the country tightened restrictions to ward off a wave of infections sparked by the omicron variant. Unemployment in Europe’s largest economy falls by 23,000, beating economists’ forecast for a drop of 15,000. The jobless rate slid to 5.2%. “The labour market developed well towards the end of the year,” said ...

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• 6 January

  France boosts aid for tourism firms to mitigate Omicron hit

    Bloomberg The French government said it will ease access to crisis funds and could delay loan repayments for businesses struggling with a drop in activity as the surge in omicron cases hits tourism and leisure activities. “We are standing by firms and workers in difficulty,” Finance Minister Bruno Le Maire said after meeting with representatives of business groups. “This ...

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• 6 January

  Euro area inflation is close to its peak, says ECB’s Villeroy

  

    Bloomberg The surge in euro-area inflation that surprised policy makers in recent months is close to its peak, according to European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau. A report on French consumer prices in December shows the first signs of stabilisation and the ECB expects upward pressures to fade through 2022, the French central bank ...

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• 6 January

  Argentina extends export ban on beef cuts

    Bloomberg Argentina extended an export ban on seven beef cuts until the end of 2023, doubling down on its unconventional approach to taming meat prices for local consumers. The government also prohibited exporters from shipping full cattle carcasses and half carcasses, among other categories, for the next two years. Argentine beef is part of the national identity, producing mostly ...

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• 6 January

  Over 20 million US jobs won’t return to office: Report

    Bloomberg The shift to remote work for high-paying jobs will accelerate this year, according to a new report, defying city officials who are desperate to bring workers back and reinvigorate their economies. More than a quarter of all professional positions in North America, largely concentrated in the US, will be fully remote by the end of this year, up ...

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• 5 January

  China tech selloff deepens as Tencent sale spooks traders

  

    Bloomberg China’s tech stocks fall once again on Wednesday as firms backed by Tencent Holdings Ltd. came under pressure after it pared investment in the cohort for a second time in two weeks. The Hang Seng Tech Index fell 4.6% — the most since July — in a third straight day of declines, with overnight weakness in US peers ...

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• 5 January

  Buffett’s Berkshire Hathaway plans return to yen bond market

  

    Bloomberg Warren Buffett’s Berkshire Hathaway Inc is planning a potential return to the yen bond market, just as a drop in the Japanese currency versus the greenback makes investments in nation’s companies more attractive. The US company has mandated banks for a potential benchmark yen-denominated bond offering. The deal may come in the near future, subject to market conditions. ...

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• 5 January

  Citi’s Chronert bolsters S&P 500 year-end target

    Bloomberg Citigroup Inc strategist Scott Chronert gave up on what had appeared to be a too conservative market view after US stocks rounded out a third year of monster gains. Chronert increased his year-end target for the S&P 500 to 5,100 from 4,900, citing an earnings expansion that could last for at least two more years. While keeping his ...

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• 5 January

  Sheikh Mohammed announces AED100m Great Arab Minds fund

  

    Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched the Great Arab Minds initiative. The initiative will be driven by and headquartered at the Museum of the Future, the Emirates’ new global scientific landmark. Great Arab Minds is the Arab world’s largest ...

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