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Bloomberg After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the City of London. Current Chancellor Jeremy Hunt promised in this month’s Edinburgh Reforms to “turbocharge growth” for the country’s banks, insurers and asset managers. ...

  Bloomberg Sanofi and Pfizer have agreed to settle a California man’s lawsuit over Zantac in the first case set for trial on claims the heartburn drug can cause cancer. Sanofi confirmed the deal in a statement, without saying what it had agreed to pay James Goetz to resolve his allegations that Zantac led to his bladder cancer. “Sanofi settled ...

  Bloomberg Spain was chided by the European Union’s (EU) top court for failing to clean up dirty air in the capital Madrid and also in parts of Barcelona. The EU Court of Justice in a ruling said Spain didn’t take the necessary measures in time to avoid exceeding the limits of nitrogen dioxide. The European Commission in 2020 sued ...

Bloomberg Tesla Inc is offering US consumers $7,500 to take delivery of its two cheapest models before year-end, a move likely to foment more debate over the extent of the carmaker’s struggle with demand. The discount Tesla is dangling on new Model 3 sedans and Model Y sport utility vehicles is double what the company was offering earlier this month, ...

  Bloomberg Royal Mail said the company is battling for survival and accused a union of “peddling lies” in a strongly-worded letter to staff ahead of another round of strikes. Postal workers will walk out on Friday and Saturday, disrupting the delivery of Christmas gifts and cards in a blow to both Royal Mail and retailers that depend on festive ...

  Bloomberg Micron Technology Inc, the largest US maker of memory chips, said the worst industry glut in more than a decade will make it difficult to return to profitability in 2023. The company announced a host of cost-cutting measures, including a 10% workforce reduction, aimed at helping it weather a rapid drop in revenue. Micron also projected a steep ...

Bloomberg The Kremlin criticised the outcome of Ukrainian President Volodymyr Zelenskiy’s visit to Washington and warned that Russia would continue to target weaponry supplied to Ukraine by the US and its allies. Moscow followed Zelenskiy’s meeting with President Joe Biden and speech to the US Congress and saw no sign of a “willingness to listen to Russia’s concerns,” Kremlin spokesman ...

  Bloomberg A monstrous once-in-a-decade winter storm is battering a huge swath of the central US with snow and frigid temperatures, making a mess of highways and canceling flights as the holiday travel season peaks. Blinding snow squalls and dangerous cold have gripped the region as an estimated 112.7 million people are set to travel at least 50 miles (80 ...

  Bloomberg More than a dozen male university teachers in Afghanistan have resigned and several male students walked out of their classrooms in support of female students who were forced out of higher education following a Taliban decree. “I don’t wish to continue working somewhere where there is an organised discrimination against innocent and talented girls of this country by ...

  Bloomberg The Bank of Japan (BOJ) responded to market pressure this week by unexpectedly increasing its band for the 10-year bond yield. The new ceiling is already coming under threat. The benchmark yield jumped to as high as 0.48%, the day after the BOJ doubled the top of its allowable range to 0.5%. Similar-maturity swap rates have increased to ...