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Bloomberg Volkswagen AG is requiring employees at one of its factories in southern China to work extended hours to compensate for production losses after staff came down sick with Covid, a person familiar with the matter said, as a wave of infections snakes across the country. The German carmaker has arranged for staff in several workshops at a plant it ...

Bloomberg US President Joe Biden will unveil nearly $2 billion in assistance and announce moves to deliver a Patriot missile battery to help Ukraine bolster its defenses this winter as its leader, Volodymyr Zelenskiy, arrives in Washington on Wednesday to deliver an in-person address to Congress. Zelenskiy left Ukraine for the first time since Russia invaded in February and at ...

Bloomberg Home Secretary Suella Braverman suggested the UK may use cruise ships to house asylum seekers in an attempt to cut costs the government estimates will run to £3.5 billion ($4.2 billion) this tax year. “Nothing is excluded,” Braverman told lawmakers when asked if vessels will be used. It’s an idea Prime Minister Rishi Sunak floated during the summer leadership ...

  Bloomberg The European Union (EU) will look into Kosovo’s application to join the bloc as soon as Sweden takes over the rotating presidency in January. The bid will have to be carefully mulled as it’s a sensitive issue for many member states, according to a person familiar with the matter who spoke on condition of anonymity. Five of 27 ...

Bloomberg Chinese President Xi Jinping exchanged congratulatory messages with his Australian counterpart to mark the 50th anniversary of diplomatic relations, the latest sign of warming ties between the two major trade partners. State broadcaster China Central Television (CCTV) reported on Wednesday that Xi had sent messages to Prime Minister Anthony Albanese and Governor General David Hurley. Xi said China was ...

Bloomberg The National Archives and Records Administration (Nara) released another set of documents related to the storage of classified material and presidential documents at Mar-a-Lago by ex-President Donald Trump. The 573-pages of emails show how Gary Stern, Nara’s general counsel, pushed officials internally to set the record straight after news reports first surfaced last February claiming the agency “raided” Mar-a-Lago ...

Bloomberg Peru’s congress approved a constitutional reform to hold early presidential elections in a second bid to alleviate a political crisis that’s seen widespread unrest since former President Pedro Castillo was removed from office December 7. The reform passed by a two-thirds majority calls for early elections in April 2024, shortening the term of Castillo’s successor, Dina Boluarte, to July ...

  Bloomberg South African President Cyril Ramaphosa notched up another win in the leadership contest for the ruling African National Congress, after his allies secured a resounding majority of posts on party’s top decision-making structure. At least 65% of 80 additional members of the ANC’s National Executive Committee, who were elected at its December 16-20 national conference, appeared on a ...

Bloomberg Deutsche Bank AG is considering giving some of its top earners in Germany and other key markets an elevated salary increase to help offset surging inflation, while cutting bonuses for investment bankers who’ve seen weaker performance. For staff not covered by standard wage agreements, base pay is likely to rise by as much as 4% on average, people familiar ...

  Bloomberg Reserve Bank of India (RBI) Governor Shaktikanta Das warned that failing to regulate cryptocurrencies could ignite the next financial crisis and urged the adoption of a new e-Rupee for digital banking needs. “Cryptocurrency has certain huge inherent risks for our macroeconomic and financial stability,” Das said at an event in Mumbai, pointing to the implosion of FTX as ...