France Has Poor Income Mobility Compared to US, Study Shows
(Bloomberg) — In the land of liberté, égalité and fraternité there is a problem: it’s hard to get ahead.
Bloomberg Business
Buffett Praises BYD and TSMC After Selling Shares of Both Firms
Warren Buffett called electric-car maker BYD Company Ltd. “extraordinary” and said chip manufacturer Taiwan Semiconductor Manufacturing Co. is a “fabulous enterprise.” That hasn’t stopped him from selling shares of both firms.
US National Guard Helicopter Deaths Are Linked to Operator Errors, GAO Finds
Crashes have killed 28 US National Guard helicopter crew members outside of combat over a decade because of operator errors — from overconfidence to not following standards — according to a review by Congress’s oversight agency.
ConocoPhillips CEO Sees More Shale Deals as Investors Stay on Sidelines
Chief Executive Officer Ryan Lance is predicting more shale mergers and acquisitions amid a dearth of investment in the industry — but his company won’t take part unless a highly compelling deal is on the table.
Fed’s Barkin Says There’s More Work to Do to Rein in Inflation
Federal Reserve Bank of Richmond President Thomas Barkin said policymakers still have more work to do to tame prices after fresh data Wednesday showed inflation remained well above the Fed’s 2% target.
UK Sanctions Abramovich, Usmanov Advisers Over Wealth Shielding
The UK and US imposed sanctions on key advisers to Russian billionaires Roman Abramovich and Alisher Usmanov, accusing them of having helped the oligarchs hide their assets to avoid financial penalties linked to Russia’s invasion of Ukraine.
ECB Should Hike Rates by Half-Point in May, Holzman Tells BZ
Stubbornly high inflation still warrants another 50 basis-point increase in interest rates at the European Central Bank’s May meeting, Governing Council member Robert Holzmann told Boersen Zeitung newspaper in an interview, reiterating a view he told Bloomberg earlier.
TCS Profit Misses Estimates After Companies Curb IT Spending
Tata Consultancy Services Ltd.’s quarterly profit missed analysts’ estimates as cautious clients curtailed technology spending to prepare for a cooling economy.
Netherlands Plans to End Russian LNG Imports, Minister Says
The Dutch government is working on ending all liquefied natural gas imports from Russia, according to Energy Minister Rob Jetten.
Swiss Lower House Censures UBS Guarantees in Symbolic Vote
Switzerland’s lower house made a symbolic vote against providing state guarantees for UBS Group AG’s takeover of Credit Suisse Group AG, reflecting a high degree of public discontent with the deal.
