BUSINESS
China’s Li Keqiang urges more pro-growth policy as economy sputters
Li told officials at a meeting to take the lead in helping boost consumption and offer more fiscal support via government bond issuance for investments, state television CCTV reported Tuesday evening. He also vowed to “reasonably” step up policy support to stabilize employment, prices and ensure economic growth.
COMMODITIES
Zinc surges as Trafigura-owned smelter to halt production
Surging energy costs -- exacerbated by Russia’s move to squeeze gas shipments to Europe following its invasion of Ukraine -- are putting pressure on industrial output across the region.
BUSINESS
A full-scale nuclear war could cost 5 billion lives, study shows
Scientists at Rutgers University mapped out the effects of six possible nuclear conflict scenarios. A full-scale war between the US and Russia, the worst possible case, would wipe out more than half of humanity, they said in the study published in the journal Nature Food.
BUSINESS
Apple lays off recruiters as part of its slowdown in hiring
About 100 contract workers were let go in a rare move for the world’s most valuable company. The recruiters were responsible for hiring new employees for Apple, and the cuts underscore that a slowdown is underway at the company
BUSINESS
These six cities are emerging as new expat hot spots
While countries from Curacao to Cape Verde have rolled out digital nomad visas for web-based wanderers, building and retaining a large, cosmopolitan talent base takes more than a beach and a wi-fi connection.
BUSINESS
Business travel won’t hit $1.4 trillion pre-pandemic level until 2026
The return to the 2019 level also is being slowed by supply-chain disruptions, labor shortages, lockdowns in China and the effects of the war in Ukraine on nearby regions, according to the group’s 2022 Business Travel Index Outlook.
BUSINESS
Top miner BHP hits profit record and sees stronger China outlook
The producer will study plans to expand its top-earning iron ore unit to 330 million tons of production a year, and is continuing to assess options to lift volumes in copper and nickel, Melbourne-based BHP said Tuesday in a statement. A giant new potash mine in Canada remains on track to begin production in 2026.
BUSINESS
Singapore’s next premier Lawrence Wong warns US, China may ‘sleepwalk into conflict’
In an interview on Monday with Bloomberg Editor-in-Chief John Micklethwait, Wong said the relationship between the world’s biggest economies was on a “very worrying” trajectory in the wake of House Speaker Nancy Pelosi’s visit to Taiwan and China’s subsequent military drills around the island.
BUSINESS
China needs more stimulus to boost growth, PBOC paper says
In a front-page report Tuesday, the newspaper said Beijing should introduce new pro-growth policies at the appropriate time to keep growth within a reasonable range, citing Wen Bin, chief economist at China Minsheng Bank.
BUSINESS
Rakesh Jhunjhunwala’s stock holdings worth nearly $4 billion in focus after death
The man known as India’s Warren Buffett died of a reported cardiac arrest Sunday at the age of 62. The self-made trader invested in a wide swathe of established businesses and startups, and served on the boards of several Indian firms.
BUSINESS
Asia analysts predict biggest profit drop since pandemic started
Earnings per share for MSCI Asia Pacific Index members slid 16 percent in the three months through June from a year earlier, the steepest decline in eight quarters, according to analyst estimates compiled by Bloomberg Intelligence
BUSINESS
Rice crop in India suffers setback as patchy rains reduce plantings
Total rice acreage in the South Asian nation, the world’s second-biggest grower, has fallen 12% so far this season, according to the farm ministry.
WORLD
Spaghetti sauce is under threat as water crisis slams tomatoes
The water woes have led to crop shifting as growers try to gauge what commodity will bring the biggest returns. Bruce Rominger, a fifth-generation farmer, slashed rice sowing by 90% to make room for tomatoes.
BUSINESS
World’s oldest glass maker Mazimilian Riedel braces for shutdowns as gas crisis deepens
He’s worried that Europe’s gas standoff with Russia might break that legacy.
SPORTS-TRENDS
A Chance to See Serena Williams in the US Open Could Cost $12,000
On StubHub, a ticket to the September 10 final costs as much as $12,728, while seats are going for $5,682 on Gametime and $5,600 on Ticketmaster. In some cases, resellers are asking for astronomical sums for early rounds, too.
BUSINESS
Bata says kids returning to schools aided growth after firm reports highest quarterly sales
Bata India on Thursday reported its Q1 earnings with the revenue from operations seeing an over three-fold jump to Rs 943.01 crore from Rs 267 crore in the pandemic-hit Q1 FY22.
BUSINESS
China crypto mogul seeks to sell Huobi stake at $3 billion value
The Chinese crypto-mogul has held discussions with a raft of financiers, seeking to sell a roughly 60% slice of the company he founded almost a decade ago, according to people familiar with the matter.
BUSINESS
GSK’s got heartburn that £50 billion could probably fix
Haleon, which is behind brands like Sensodyne toothpaste and Panadol painkillers, was a joint venture between GSK, the majority owner, and Pfizer Inc. until it gained independence through the July separation.
BUSINESS
Masayoshi Son is now down $4 billion on his SoftBank side deals
The Japanese billionaire took the unusual step of establishing personal stakes in a series of SoftBank ventures in recent years, a mixing of company and executive interests that drew the ire of investors.
BUSINESS
China’s third-biggest IPO of the year doubles in trading debut
The stock soared as much as 105% to 73.80 yuan. Hygon’s offering raised 10.8 billion yuan ($1.6 billion) following the sale of 300 million shares at 36 yuan each. It’s the largest debut for the Nasdaq-like Star Board in 2022.
BUSINESS
Crypto is failing where digital yuan may succeed
In terms of technology, it shows that even the most decentralized service can’t avoid law enforcement.
BUSINESS
Why British conservatives went cold on Rishi Sunak
Polls now put Truss miles ahead. And while the voting by Conservative Party members, less than 1% of the British electorate, doesn’t end until early September, some nine in 10 say they have already made up their minds. What happened?
BUSINESS
The future of travel Is less exotic
That simple observation — and my travels over the past year to Denmark, Switzerland, Ireland, Portugal, Mexico, England, Argentina and Colombia — have led me to a theory about the future of travel: The world is entering a new era in which exotic journeys are for more of a travel elite than a moneyed elite.
BUSINESS
Apple expects to sustain iPhone sales in 2022 as market slows
The tech giant is telling its assemblers to make 90 million of its newest devices, on par with last year, despite deteriorating projections for the smartphone market, according to people with knowledge of the matter.
