October, 2021

• 14 October

  US troops, Chinese planes push Taiwan closer to crisis

  

  When I was fresh out of the US Naval Academy in the mid-1970s, I was assigned to a destroyer that was preparing for a deployment to the western Pacific. Among many planned calls, one stood out: Keelung , at the northern tip of the island of Taiwan. It had a reputation as a welcoming port for navy warships — in ...

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• 14 October

  New deal to create Europe’s Walmart!

  

  The last thing President Emmanuel Macron needs right now is a merger between two of France’s biggest employers ahead of an election. Given the manifest potential for job losses and reduced competition in essential groceries, it’s convenient that talks to combine hypermarket operators Auchan and Carrefour SA have stalled. But the political context will change, and the deal’s financial and ...

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• 14 October

  Businesses need to get creative to fill orders

  Profit margins will be more art than science this earnings season. Let’s see if investors like Picasso. In industries from consumer goods to manufacturing, virtually every line on the income statement is experiencing a degree of stress. In recent months, raw materials, labour and freight have become significantly more expensive and hard to come by. Struggling to keep up with ...

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• 14 October

  Is pandemic nostalgia haunting central banks?

  It’s almost enough to make you nostalgic for the early months of the pandemic. There was clarity of economic purpose: dramatic cuts in interest rates and big fiscal commitments. The outlook was so dire there were few plausible alternatives. Conditions are much more favourable now, and ironically, that makes the choices tougher. The economic recovery is looking a little shopworn. ...

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• 14 October

  Taiwan warns China of strong response over aircraft sorties

  

  Bloomberg Taiwan’s top military leadership warned China that the closer its aircraft and ships get to the island the harder Taipei will respond, raising the stakes for further escalation with Beijing. Taiwan will take tougher measures to fend off Chinese military sorties should they get too close to the Taiwanese mainland, according to a report by the island’s defense ministry ...

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• 14 October

  ICJ rejects Kenya’s territorial claim in Somalia border case

  

  Bloomberg The International Court of Justice (ICJ) rejected Kenya’s territorial claims in a maritime border dispute with Somalia, in a ruling that may inflame tensions between the nations eyeing the area’s oil and gas reserves. The ruling read by Judge Joan Donoghue was largely in favour of Somalia, with the Hague-based court saying that there isn’t a boundary agreement between ...

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• 14 October

  Putin says Nobel Prize isn’t legal ‘shield’ for Russian editor

  

  Bloomberg If Russian journalist Dmitry Muratov thought winning the Nobel Peace Prize may protect him against a sweeping Kremlin crackdown on media it considers “foreign agents,” then President Vladimir Putin offered a sobering warning on Wednesday. “If he doesn’t violate Russian law, and if he doesn’t give a reason to be declared a foreign agent, then he won’t be,” Putin ...

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• 14 October

  EU to offer Brexit concessions ahead of new round of UK talks

  

  Bloomberg The European Union will offer a new package of concessions to the UK that would ease trade barriers in Northern Ireland, as the two sides prepare for a new round of contentious Brexit negotiations. Maros Sefcovic, the EU’s chief Brexit negotiator, was expected to offer to cut as much as 50% of the customs checks in Northern Ireland and ...

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• 14 October

  Merkel, Xi say goodbye with chat on relations

  Bloomberg German Chancellor Angela Merkel and Chinese President Xi Jinping discussed the EU’s stalled investment accord with China, human rights and other issues in a “farewell” bilateral talk. Preparation for the G-20 summit, fighting climate change and grappling with the global pandemic were also discussed in the video conference on Wednesday, Martina Fietz, Merkel’s deputy spokeswoman, said in a statement ...

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• 14 October

  Bank of Korea mulls timing of next hike after standing pat

  

  Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol gave his strongest signal yet that a rate hike is likely in the works for November as he flagged worsening financial imbalances, growing inflationary pressures and solid recovery momentum. The central bank’s decision to hold rates at 0.75% was opposed by two members who called for a back-to-back increase following August’s liftoff. Dissension ...

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