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Shein’s breakneck growth slows, testing $100bn valuation

25 May 2022 /  Bloomberg News
The online-only retailer has become a global phenomenon.

Global crises threaten economic ‘perfect storm’: Davos update

25 May 2022 /  Bloomberg News
'We’ve had big crises in the past but coming from so many different dimensions this may be quite unique,' Standard Chartered Plc Chairman Jose Vinals said.
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Zimbabwe’s inflation is back above 100% after currency plunge

25 May 2022 /  Rene Vollgraaff, Bloomberg
Annual inflation quickened to 131.7% from 96.4% in April, ending a 10-month period in which the rate was below 100%.

As hunger bites in Somalia, babies start to die

25 May 2022 /  Andrew Cawthorne, Bloomberg
2.8 million people have received aid. Another 3.1 million could be helped if more money came in.

China’s Xi holds rare meeting with UN human rights official

25 May 2022 /  Bloomberg News
Beijing is willing to discuss rights issues and cooperate with all parties on the basis of mutual respect, Xi said in a video call with Bachelet.

UK approves sale of Chelsea FC to US investor Todd Boehly

25 May 2022 /  Kitty Donaldson and David Hellier, Bloomberg
Boehly’s winning bid is backed by California-based private equity firm Clearlake Capital.

Pfizer slashes drug prices for poorest nations, expanding access

25 May 2022 /  Drew Armstrong, Bloomberg
The initiative will start in five African countries with 23 drugs for cancer, rare illnesses, inflammatory conditions and infectious diseases.

Oh Snap! Social media stocks lose billions after Snapchat parent warning

25 May 2022 /  Medha Singh, Nivedita Balu and Sheila Dang
Snap shares closed at $12.79, lower than their 2017 IPO price of $17.

Inflation is likely to stick around for years: Davos update

25 May 2022 /  Bloomberg News
Food shortages, climate change and migration risks have also been high on the agenda.

Mediclinic doubles profit, reinstates dividend

25 May 2022 /  Promit Mukherjee, Reuters
The company announced a dividend of 3 pence per share

Rand dips as dollar recovers

25 May 2022 /  Alexander Winning, Reuters
In early trade the rand was at R15.69 against the dollar, down around 0.3% from its previous close.

Oil climbs as report shows tightening US gasoline stockpiles

25 May 2022 /  Elizabeth Low, Bloomberg
Brent for July settlement gained 0.6% to $114.26 a barrel on the ICE Futures Europe exchange.

US futures, Asia stocks rise as rate path mulled: markets wrap

25 May 2022 /  Andreea Papuc, Bloomberg
Gold was at $1 860.33 an ounce, down 0.3%.
UPDATE

Gunman kills 19 children, 2 teachers at Texas elementary school

25 May 2022 /  Brad Brooks and Steve Gorman, Reuters
'When are we going to stand up to the gun lobby? – President Biden.

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