UK Defends Sudan Diplomatic Evacuation as Citizens Trapped
The UK government defended its decision to evacuate diplomats from Khartoum while offering only limited assistance to British citizens caught up in the fighting in Sudan.
Bloomberg Business
Tesla Raises Capital Spending Plan to at Least $7 Billion as It Cuts EV Prices
Tesla Inc. increased its forecast for capital expenditures again and is now budgeting at least $7 billion for this year.
Tether Recoups Almost All of Market Value Lost During Crypto Meltdown
Tether’s stablecoin is on the verge of recovering all of the market value lost in the wake of the collapse of algorithmic rival TerraUSD less than a year ago.
UK Lays Out LDI Fund Reforms After Last Year’s Market Mayhem
Asset managers offering LDI strategies to pension funds must ensure their clients can deliver collateral within five days, Britain’s financial services watchdog said as part of a series of reforms following the market mayhem caused by September’s mini-budget.
Burberry Chairman Challenges Sunak Over ‘Spectacular Own Goal’ UK Tourist Tax
Burberry Group Plc chairman Gerry Murphy said the UK had scored a “spectacular own goal” in removing a tax break for tourists, triggering an awkward exchange with Prime Minister Rishi Sunak.
French Union Pursues Pension Fight With Threat of Power Cuts at F1, Tennis Events
The head of France’s CGT union warned the government not to ignore anger over its decision to raise the minimum retirement age as energy-sector workers threaten to cut power at major international events ranging from Formula One racing to the French Open tennis championship.
LVMH’s Market Value Exceeds $500 Billion, a First in Europe
LVMH’s market value surpassed $500 billion, becoming the first European company to reach that milestone, thanks to booming sales of luxury goods in China and a strengthening euro.
China Stocks Post Biggest Two-Day Drop This Year on Geopolitics, Growth Woes
The biggest two-day slide in Chinese stocks this year suggests traders may be losing faith in the market’s rebound as they reassess inherent risks including geopolitical tensions and a fragile economy.
Euro Zone Turns Page on War With Growth Seen Returning
The euro zone probably resumed growth in the first quarter as all four of its biggest economies proved resilient enough to shake off the fallout from war on the region’s frontier.
Philippines Keeps GDP Growth View Despite Higher Inflation
The Philippines maintained its economic growth forecasts for this year through the end of President Ferdinand Marcos Jr.’s term, as it expects investments and consumption to withstand the impact of higher inflation.
