Standing in front of world leaders gathered in New York, Sharif asked for international support in the slow rebuilding that will follow. He said that since countries like Pakistan have emitted less than 1% of the greenhouse gas emissions that have contributed to the planet’s rapid warming, it was “entirely reasonable” for his country to expect “some … Read more
(Bloomberg Businessweek) — The questions were coming at me fast: “Who are you?” “Why are you here?” “Are they really Afghans?” It was after midnight in the brightly lit, busy Islamabad International Airport. I was being questioned by an official from Pakistan’s Federal Investigation Agency (FIA) and trying to quell my rising panic. As I … Read more
The plunge in valuation underscores worsening sentiment around China’s tech giants, which are grappling with a souring of sentiment on tech assets worldwide as well as a domestic government crackdown that’s spooked investors. Venture funding in China has plummeted, while shares in Tencent Holdings Ltd. and Alibaba Group Holding Ltd. are down about 24% and … Read more
The job cuts are expected to come among Ford’s salaried ranks in a variety of operational functions, according to the people familiar. They may come in phases, but are likely to begin this summer, the people said. Ford employs about 31,000 salaried workers in the US, where the bulk of the cuts are expected.
(Bloomberg) — Bitcoin is gaining for the third straight day amid a broader rally in risk assets, with the digital currency rising above $24,000 for the first time in more than a month. The world’s largest digital token rose as much as 4.2% Wednesday to $24,275, the highest level since mid-June. It’s on pace to … Read more
Most candidates have fallen over themselves to offer the biggest tax cuts, including Truss, whose pledges total £34 billion ($41 billion), according to Bloomberg calculations. But Sunak has stood out by warning against what he calls unfunded, “fairy tale” pledges that risk further fueling inflation. That has opened him up to attacks on his record … Read more
(Bloomberg) — More than a dozen US lawmakers, most from the Democratic Women’s Caucus, were arrested by US Capitol police on Tuesday during an abortion-rights rally in front of the US Supreme Court. New York Representatives Alexandria Ocasio-Cortez, Carolyn Maloney and Nydia Velazquez were among those who were arrested, as were Representatives Cori Bush, Ayanna … Read more
New Delhi reduced the windfall tax on diesel and aviation fuel shipments by 2 rupees (3 cents) a liter, and scrapped completely a 6-rupees-per-liter levy on gasoline exports, according to a government notification. It also cut the tax on domestically produced crude by about 27% to 17,000 rupees a ton. Bloomberg News first reported Thursday … Read more
West Texas Intermediate for September, the contract with the highest volume and open interest, edged lower in early Asian trading after rising more than 8% in the prior three sessions. That advance was supported by weakness in the US currency, a pipeline outage, and signs physical markets remain tight.
Greg Doscher, a 40-year-old retail trader in Santa Barbara, California, has seen a 322% gain after pooling approximately $ 10,000 on a short position on the euro that he opened in late January. Despite soaring inflation, he argues the European Central Bank will not act as aggressively to raise rates as the US Federal Reserve, … Read more