British supermarkets phase out expiration dates on food items

  Bloomberg UK supermarkets are phasing out expiration dates on a range of perishable items in favour of good old-fashioned shoppers’ judgment. And while the chain retailers say the move will save customers money and cut waste, it marks a new turn in a grim consumer battle with rampant inflation. Asda, Co-Op, Morrisons, Waitrose, Tesco and Marks & Spencer Group ...

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Dublin Airport opens new runway

  Bloomberg Dublin Airport was expected to finally open its new runway in a move that is hoped will reduce delays following a summer of long queues and travel disruption across Europe. The first flight from the north runway was planned to take off on Wednesday between 11.30am and 12.30pm, with an introductory morning schedule starting from August 25. Airports ...

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Biden pledges $3b to Ukraine in largest military aid package yet

Bloomberg US President Joe Biden announced a $2.98 billion weapons and equipment package for Ukraine on the six-month anniversary of Russia’s invasion, the biggest tranche of American security assistance to date. The announcement came as Ukraine celebrates the anniversary of its independence from the Soviet Union in 1991. The White House said the latest package will allow Ukraine to purchase ...

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US airstrikes target Iranian-backed groups in eastern Syria

Bloomberg US forces carried out airstrikes in Syria against groups tied to Iran’s Islamic Revolutionary Guard Corps, US Central Command said, a move that comes as Washington and Tehran weigh a new nuclear agreement. The strikes at Deir ez-Zor in eastern Syria were “intended to defend and protect US forces from attacks like the ones on Auguat 15 against US ...

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Thai court suspends PM Prayuth, stoking intrigue as vote nears

  Bloomberg Eight years ago, then-army chief Prayuth Chan-Ocha staged a coup in Thailand and ripped up the constitution. On Tuesday, he was suspended as prime minister until a court determines whether he violated the new charter produced by his allies. The surprise action by Thailand’s Constitutional Court puts Prayuth on the sidelines at least temporarily until it rules on ...

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India’s Modi nuclear push gains traction with new plants on way

  Bloomberg India’s largest power producer is looking to develop another massive nuclear project just weeks after announcing its entry into the sector, a sign that Prime Minister Narendra Modi’s expansion into atomic energy is gaining momentum. A venture between NTPC Ltd., which relies mostly on coal to supply energy to the world’s fastest growing population, and India’s monopoly nuclear ...

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China plans $29bn in special loans to troubled developers

  Bloomberg China will offer 200 billion yuan ($29.3 billion) in special loans to ensure stalled housing projects are delivered to buyers, people familiar with the matter said, ramping up financing support for its beleaguered property sector. The previously unreported size of the lending program, which was announced with scant details by China’s housing ministry, finance ministry and the central ...

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Euro’s decline below dollar parity brings little cheer to business

  Bloomberg Euro-area businesses spent years wishing for a weaker euro. Now it’s here and it couldn’t have come at a worse time. The currency has slid more than 12% against the dollar this year, taking it below parity for the first time in two decades. That decline is boosting import costs, compounding a damaging surge in energy prices and ...

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Big banks are wary of hasty bets on LatAm rate cuts

  Bloomberg As many investors pivot to strategies that profit from a drop in interest rates in Latin America, some big banks are warning that it’s too early to declare victory over inflation. Bank of America Corp (BofA) said rates in the region may stay high for longer than markets are expecting, and it’s worth holding onto positions that benefit ...

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MUFG inches closer to buy two home credit lending units in Asia

Bloomberg Mitsubishi UFJ Financial Group Inc. is in advanced talks to acquire consumer lender Home Credit’s assets in Indonesia and the Philippines, according to people familiar with the matter. MUFG, as Japan’s biggest lender is known, has emerged as the likeliest buyer for the businesses after outbidding other rivals, the people said, asking not to be identified because the matter ...

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