• The Philippines’ two biggest telecommunications companies PLDT and Globe Telecom have separately accused new entrant DITO Telecommunity of “fraudulent” calls made through its network, heightening a public disagreement Link
    Bloomberg Wed 10 Aug 2022 07:30
    DITO Telecommunity Corp. of “fraudulent” calls made through its network, heightening a public disagreement.

    Globe, in a statement Tuesday, said it has asked the telecommunications regulator to require DITO to pay 622 million pesos ($11.2 million) in penalties over alleged violations of interconnect rules. Globe said DITO’s network supposedly allowed a daily average of 1,000 calls that were “identified as international in origin but masked as local calls.”

  • China’s ambassador to Australia warns Canberra to take Beijing’s stance on Taiwan seriously, saying it regards the nation as Australia does its island state of Tasmania Link
    Bloomberg Wed 10 Aug 2022 07:20

    China’s ambassador to Australia has warned Canberra to take Beijing’s stance on Taiwan seriously, saying it regards the island as Australia does its offshore state of Tasmania.

    While Xiao Qian said there was an opportunity to reset chilly relations between Australia and China, he cautioned that there was no room for compromise on Beijing’s One China policy, in a speech in Canberra on Wednesday.

  • Royal Mail says it will sustain a full-year loss if 115,000 workers go ahead with a planned strike over pay Link
    Bloomberg Wed 10 Aug 2022 07:20
    Royal Mail Plc said it will sustain a full-year loss if 115,000 workers go ahead with a planned strike over pay.

    The UK postal service will be “materially loss making” in the 2023 fiscal year in the event of walkouts by the Communication Workers Union over four days in August and September, it said in a statement Wednesday.

  • The US will form a working group with the Democratic Republic of Congo to discuss ways to protect the central African nation’s tropical rainforests and peatlands as the government makes plans to explore for oil Link
    Bloomberg Wed 10 Aug 2022 07:20

    The US will form a working group with the Democratic Republic of Congo to discuss ways to protect the central African nation’s massive tropical rainforests and peatlands as the government makes plans to explore for oil.

    US Secretary of State Antony Blinken made the announcement with his counterpart Christophe Lutundula in the capital, Kinshasa, after meeting with Congolese President Felix Tshisekedi during the second stop of his three-nation trip to Africa.

  • Burglars took $600,000 in cash from a game farm owned by South African President Ramaphosa, far less than the amount that had been previously speculated to have been stolen, News24 reports Link
    Bloomberg Wed 10 Aug 2022 07:15
    News24 reported, without saying where it got the information.

    The money was the proceeds from the sale of a buffalo to an unidentified buyer from Dubai, the Johannesburg-based news website said. The cash had been stored in a cupboard, it said.

  • Sri Lanka’s government tables a proposal to curb the powers of the president’s office, the first step to reform a political system widely seen as responsible for tipping the country into economic chaos and bankruptcy Link
    Bloomberg Wed 10 Aug 2022 07:15
    Sri Lanka’s government tabled a proposal to curb the powers of the president’s office, the first step to reform a political system widely seen as responsible for tipping the country into economic chaos and bankruptcy.

    The passing of the proposed constitutional amendment would be a win for President Ranil Wickremesinghe and buy him time to institute tough economic reforms to secure a bailout from the International Monetary Fund as the country struggles to find funds for food and fuel supplies. 

  • Deliveroo reports earnings that beat analysts’ estimates after the company said it would tighten its marketing budget and cut costs Link
    Bloomberg Wed 10 Aug 2022 07:15
    Deliveroo Plc reported earnings that beat analysts’ estimates after the company said it would tighten its marketing budget and cut costs. 

    Adjusted earnings before interest, taxes, depreciation and amortization was a loss of £68 million ($82.1 million) in the first half of the year, the company said in a statement on Wednesday. That compared to the average analyst estimate for a loss of £73.3 million, according to a Bloomberg survey.

  • EDF seeks $8.5 billion as reimbursement from France after the government forced it to sell power at a discount to protect consumers from surging inflation Link
    Bloomberg Wed 10 Aug 2022 07:10
    forced it to sell power at cut-rate prices to protect consumers from surging inflation.

    “Following an in-depth legal analysis, and in light of the losses incurred,” the company asked the Conseil d’Etat, France’s highest administrative court, to overturn the orders requiring it to sell electricity at a discount, EDF added in a

  • Hon Hai Precision, the maker of most of the world’s iPhones, posts a profit that beat estimates as demand for its cloud products helped it weather supply-chain snarls and sluggish smartphone demand Link
    Bloomberg Wed 10 Aug 2022 07:00
    Apple Inc.’s biggest assembly partner reported net income of NT$33.3 billion ($1.1 billion) for the quarter through June, against the average projection for NT$30.8 billion. Revenue totaled NT$1.5 trillion, Hon Hai reported previously.

  • The world’s biggest tour operator TUI says it remains on course to post a profit this year even as Europeans suffer a cost of living squeeze Link
    Bloomberg Wed 10 Aug 2022 06:55
    TUI AG said it remains on course to post a profit this year, with bookings and prices looking strong for the rest of the summer even as Europeans suffer a cost of living squeeze.

    The world’s biggest tour operator expects to report “significantly positive” underlying earnings before interest and tax for the 12 months through September, it reiterated Wednesday.

  • Stop & Shop owner Ahold Delhaize pulls plans to publicly list its Dutch e-commerce unit Bol due to volatile market conditions and declining internet sales Link
    Bloomberg Wed 10 Aug 2022 06:50
    Bol.com due to volatile market conditions.

    The Stop & Shop owner is keeping its options open to pursue the initial public offering at a later date “when equity market conditions are more conducive,” according to comments published with its Wednesday

  • Student loan interest rates in England and Wales will be slashed further to protect borrowers from rising inflation rates amid the soaring cost of living Link
    Bloomberg Wed 10 Aug 2022 06:35

    Student loan interest rates in England and Wales will be slashed further to protect borrowers from rising inflation rates amid the soaring cost of living.

    Rates will be cut to 6.3% from September, the Department for Education (DfE) said.

  • British Open champion Cameron Smith refuses to comment on reports that he will join the controversial Saudi-backed LIV golf tour in a $100 million deal Link
    Bloomberg Wed 10 Aug 2022 06:30

    Open champion Cameron Smith has refused to comment on reports that he has agreed to join the LIV golf tour.

    On Tuesday Cameron Percy suggested his fellow Australians Smith and Marc Leishman had agreed to join the controversial Saudi-backed series. Reports suggested Smith could receive $100 million (£82.8million) for making the switch.

  • Hong Kong police arrest two civil servants for speech crimes under a colonial-era sedition law, as authorities expand their crackdown on dissent to government workers Link
    Bloomberg Wed 10 Aug 2022 06:25

    Hong Kong police arrested two civil servants for speech crimes under a colonial-era sedition law, as authorities expand their crackdown on dissent to government workers.

    National security police arrested two men, age 28 and 29, on Tuesday morning for publishing social media posts that promoted “ill-will and enmity between different classes of the population of Hong Kong,” officials said in a

  • Schools do not have a legal obligation to comply with the gender preference of their pupils, the UK Attorney General says Link
    Bloomberg Wed 10 Aug 2022 06:20

    Schools do not have a legal obligation to comply with the gender preference of their pupils, the Attorney General has said.

    Writing for The Daily Telegraph, Suella Braverman says schools should only affirm the gender preference of a child where it differs from their birth sex "upon the advice of an independent medical practitioner".

  • Former NFL running back Marshawn Lynch was arrested Tuesday in Las Vegas on suspicion of driving impaired, according to police Link via AP
    Bloomberg Wed 10 Aug 2022 06:10

    Las Vegas (AP) -- Former NFL running back Marshawn Lynch was arrested Tuesday in Las Vegas on suspicion of driving impaired, according to police.

    Officers stopped the vehicle that Lynch, 36, was driving at about 7:30 a.m., concluded that he was impaired and detained him, police said in a statement.

  • UK consumer confidence rises for the first time in seven months, a YouGov survey finds Link
    Bloomberg Wed 10 Aug 2022 06:10

    UK consumer confidence rose for the first time in seven months as the government brought forward measure to aid in a cost-of-living crisis, a survey by YouGov showed.

    Data from the polling company and the Center for Economics and Business Research showed a 2-point increase in confidence in July to a reading of 5.3 points. While that was below pre-pandemic levels, there were small gains for the outlook for household finances and job security. 

  • The Italian Democratic Party is polling as strongly as Giorgia Meloni's Brothers of Italy. But it couldn't hold its center-left alliance together. @mariatad says it's time to let go of Draghi's ghost Link via
    Bloomberg Wed 10 Aug 2022 06:05

    Italian politics bears a striking resemblance to South American telenovelas: filled with episodes of unrequited love, bizarre couplings and multiple breakups. Narrative lines reach a fever pitch of crisis before an unexpected turn of events makes everything right — the deus-ex-machina moment. That’s the climax in ancient dramas when a god is swung on stage by a machine to snatch away a troublesome character who can’t be written out of the script otherwise. 

    The Italian left, led by the Democratic Party, is now hoping for a deus-ex-machina moment after its election strategy came undone with the sudden departure of a centrist ally just four days after they’d agreed to join forces against the surging right. But who will play God? The party is betting on the sacred aura of Mario Draghi.

  • Russian inflation likely decelerated for a third month to the lowest since the invasion of Ukraine Link
    Bloomberg Wed 10 Aug 2022 06:05

    Russian inflation likely decelerated for a third month to the lowest since the invasion of Ukraine, after consumer prices declined in consecutive weeks thanks to a stronger ruble and a seasonal drop in the cost of fruit and vegetables.

    International sanctions aimed at crippling Russia’s economy initially led to a brief currency shock and supply disruptions. A wave of panic buying that followed drove up inflation to more than quadruple the central bank’s 4% target. 

  • Labor-starved Poland is spending billions to encourage Ukrainians to stay. Will they? Link
    Bloomberg Wed 10 Aug 2022 06:05

    The call came at 6:30 a.m. on Feb. 24, just hours after Russia invaded Ukraine. It threw a lifeline to the Trushchenkov family. “Come, my apartment is yours from the beginning of next month,” said a friend, phoning from 230 miles away in Warsaw to offer a good deal on a sublet. So began the journey that brought 11 Trushchenkovs—six adults and five children—from across Ukraine to a cramped ground floor apartment in the Polish capital. “We only had room for toothbrushes and some gold,” says Olga, a 38-year-old mother of two, recalling her four grueling days of travel.

    In Poland, the Trushchenkovs relied on a country’s kindness. Deliveries of secondhand clothing arrived on their doorstep. They collected 500 zloty ($108) per child each month from the government. But their rent was 6,000 zloty, and they’d spent most of their cash during the escape. “All our savings went like water in the first few days as we had to pay for hotels and fuel,” says Zoia, the family’s 67-year-old...

  • UK home buyers are stretching themselves, Europe's perilous winter, and Elon Musk sells Tesla shares. Here’s what people are talking about ? Link
    Bloomberg Wed 10 Aug 2022 05:55

    The struggle of UK home buyers, Russia is scouring the globe for weapons, perilous winter in Europe, and Elon Musk sells Tesla shares. Here’s what people are talking about. 

    First-time home buyers in the UK are

  • Power cuts, crime, and scandal have embroiled South African President Cyril Ramaphosa as the country hurtles toward crisis. What will it mean for one of the continent's biggest economies? ?Tune in for a discussion at 8 a.m. ET in #ThePoliticsSpace Link
    Bloomberg Wed 10 Aug 2022 05:45
  • UK finance firms are struggling with its worst job vacancy rates on record, underlining a skills shortage Link
    Bloomberg Wed 10 Aug 2022 05:45

    UK finance firms are struggling with its worst job vacancy rates on record, underlining the skills shortage caused by digitization in banking, investing and insurance.  

    The industry had more than five vacancies unfilled for every 100 jobs between April and June 2022, according to data compiled by the Office for National Statistics. That’s the highest since records began in 2001, and puts the sector behind only hospitality and tech firms.

  • The yield curve and bond premia need more than to be wishfully ignored, says @johnauthers Link via @opinion
    Bloomberg Wed 10 Aug 2022 05:45
    John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator and editor of the Lex column at the Financial Times, he is author of “The Fearful Rise of Markets.” @johnauthers
  • LATEST: Deputy President William Ruto takes an early lead in the race to become Kenya’s next president as the authorities continue counting ballots after Tuesday’s election. Follow the latest updates: Link #KenyaDecides2022
    Bloomberg Wed 10 Aug 2022 05:35

    Deputy President William Ruto took an early lead in the race to become Kenya’s next president, as the authorities continue counting ballots after Tuesday’s election.

    Ruto has about 50.6% of the vote and former Prime Minister Raila Odinga has 48.8% with about 1.31 million ballots tallied, according to provisional results published on the website of the Nairobi-based Daily Nation newspaper on Wednesday.

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