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Bloomberg Christian Smalls, who started a labour union after being fired by Amazon.com Inc, was on track to potentially win a historic election to unionise one of the e-commerce giant’s facilities in New York. When federal labour officials overseeing the election halted the count, Smalls’ upstart Amazon Labor Union had 1,518 yes votes compared with 1,154 no votes from workers ...

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda is determined to stick with targeting long-term bond yields near zero, even as it leaves him increasingly at variance with global peers and propels a depreciating exchange rate. At stake for Kuroda is the credibility of his five-year-old policy framework, designed to secure sustained 2 percent inflation. The BOJ has been ...

  Bloomberg Commerzbank AG warned that risks to its outlook have increased following Russia’s invasion of Ukraine and the sanctions imposed on Moscow. Geopolitical risks could impact economic growth through higher prices for raw materials and sanctions, while Russian “countersanctions” might affect Commerzbank’s portfolios, Germany’s second-biggest listed lender said in its annual report. “There are numerous risk factors that could ...

  Bloomberg UK credit card borrowing jumped at its strongest pace in records dating back to 1993, adding to evidence that a surge in the cost of living is straining household finances. Borrowing on charge cards rose 1.5 billion pounds ($2 billion) in February alone, the Bank of England said. That drove up the value of unsecured credit including personal ...

  Bloomberg JPMorgan Chase & Co’s fledgling digital bank is going after more customers in the UK with a new savings account. Chase, which launched in the UK last September, will offer a variable interest rate of 1.5%, the company said. That’s more than double the rate offered by similar online banks including Goldman Sachs Group Marcus. Deposits will be ...

  Bloomberg Ecobank Transnational Inc, the pan-African lender with operations in 35 countries, foresees slower growth this year as a devaluation of local currencies pushes up its costs and make it more difficult for its clients to do business. The Togo-based lender predicts revenue growth will slow to 1% to 3% this year, from 5% in 2021, while loan extensions ...

  Bloomberg The Philippine central bank, which held interest rates steady, warned inflation may breach its target this year and that it stands ready to respond to a build up in price pressures. Bangko Sentral ng Pilipinas left the benchmark rate at a record low 2%, as predicted by all 23 economists in a Bloomberg survey. Its last rate move ...

  Bloomberg The Czech Republic is likely to extend its aggressive campaign of interest-rate increases as the war in Ukraine fuels already rampant inflation and overshadows risks to economic growth. The Czech National Bank will raise the key rate by at least a half-point to 5%, according to a large majority of analysts in a Bloomberg survey, adding to a ...

Bloomberg In a market gripped by concerns over rising interest rates and soaring inflation, investors are avoiding European food delivery companies, turned off by their steep losses and determined efforts to expand. Shares in Delivery Hero SE plunged 59% last quarter, the second-worst performance in Europe’s Stoxx 600 Index. Peers Just Eat Takeaway.com N.V. and Deliveroo Plc dropped more than ...

  Bloomberg Chinese technology stocks fell for a second day amid continued concern about the risk of local firms getting kicked off American exchanges. The Hang Seng Tech Index, which tracks some of the biggest Chinese firms in the sector, closed down 0.7% Friday, having earlier lost as much as 3.9%. It falls 1.4% after the US securities regulator played ...