Pound’s Tentative Recovery Masks Worst Year Since Brexit Vote
A turbulent year for the pound is coming to an end with little evidence that 2023 will be much different.
Bloomberg Business
Italy’s Lower House Approves Giorgia Meloni Budget Law
Italy’s lower house has approved Giorgia Meloni’s budget law, following a confidence vote in which the new prime minister secured wide backing for her economic plans.
Eastern US Power Grid Orders Cuts Amid System-Wide Emergency
PJM, a vast electric grid that stretches from Illinois to New Jersey, has declared a rare, system-wide emergency and is ordering some customers to curtail demand as a vast winter storm sends power use soaring.
HK Police Arrest Two Men in Crypto Exchange AAX-Related Case
Police in Hong Kong arrested two men on Friday in a case related to cryptocurrency exchange AAX and has frozen the company’s bank account.
Cabinet Members Discussed Asking Trump to Resign After Jan. 6
In the days after the assault on the US Capitol, some members of President Donald Trump’s cabinet talked about asking him to resign or invoking the Constitution’s 25th Amendment to remove him from office, according to testimony released Friday night.
Spending Scandal at Philippine Phone Giant Had Roots in Ambition
The day after the Philippines’ largest phone company plunged by a record 19% following an audit disclosure that shocked investors, Chairman Manuel Pangilinan tweeted that his arowana, a freshwater fish, had just died.
China Provinces Warn of Blood Shortage as Covid Infections Surge
China’s fast-spreading Covid infections is causing blood shortages at hospitals across multiple provinces and cities, underscoring challenges faced by the nation’s healthcare system.
NYC Mayor Leaves Town While New Yorkers Hunker Down for Winter Weather
New York City officials prepared for power failures, road closures and falling temperatures Friday — but without Mayor Eric Adams at City Hall.
South Korea’s Parliament Approves Conservative 2023 Budget
South Korea’s parliament approved a 2023 budget that reflects a more rigorous fiscal approach from the new government as it tries to position the nation to address rising economic risks.
Excessive Hikes a Risk to India’s Growth, Jobs, Says Rate-Setter
While India isn’t at risk of a recession due to rising borrowing costs, excessive monetary tightening can expose the economy to below-potential growth that can cripple job creation and productivity, warns a rate-setter.
