A 95% Writedown Shows the Repercussions of VC Exuberance
Venture firm Tribe Capital has slashed its internal valuation of startup Invenia
Bloomberg Business
Eskom’s Fifth Straight Loss Compounds South Africa’s Loadshedding Woes
South Africa’s debt-ridden state power utility posted a fifth straight loss and warned the gap may widen, while its auditor said that it may not be able to continue as a going concern.
German Allegedly Spying for Moscow Used NSA Material, Focus Says
Germany’s BND foreign intelligence service is concerned that a senior analyst and alleged Russian spy detained this week may have passed information shared by the US National Security Agency and Britain’s GCHQ to the Kremlin, Focus magazine reported, citing unidentified security sources in Berlin.
Border Forces Strike, Warn of UK Airport Disruption In 2023
Passengers at UK airports have been threatened with more disruption next year after a union said Friday’s strike by Border Force officials is likely to be the first of many.
Hunger, Disease Explode in Africa and Are Set to Get Worse
Climate-driven weather disasters across a dozen African countries are threatening the physical and mental development of an entire generation and their plight is expected to get even worse next year, the head of the WHO Foundation warned.
EU Freezes Nearly €22 Billion in Funds Earmarked for Hungary
The European Union’s executive will withhold almost all of the €22 billion in cohesion funds earmarked for Hungary until the country resolves concerns over the rule of law and the protection of human rights.
China’s Xi Tells Lee Hong Kong Is Heading In the Right Direction
Chinese President Xi Jinping has praised Hong Kong’s leader John Lee for reviving the local economy and safeguarding national security, while Premier Li Keqiang called for better coordination over the reopening of the city’s border with the mainland.
Hedge Funds Lose Court Fight for LME Disclosure of Nickel Crisis Communications
A group of hedge funds lost their court fight to force the London Metal Exchange to hand over transcripts of key phone calls and communications before its controversial attempt to ward off a potential “death spiral” by canceling nickel trades worth billions of dollars.
Sunak Says Limiting Public Sector Pay Is in the UK’s Interests
Prime Minister Rishi Sunak insisted the government is acting in the UK’s interests by refusing to negotiate salary deals with health unions, though he did not rule out the possibility of a one-off payment to end the standoff as nurses and paramedics prepare for more strikes next year.
India May Spend Less on Fertilizer Subsidy to Ease Fiscal Burden
India is likely to spend less on subsidizing fertilizers as global prices fall and the government looks to narrow its budget deficit, according to people familiar with the matter.
