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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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Ideology matters in unravelling Russia’s invasion of Ukraine

25 May 2022 /  Richard Meissner
Russia’s idea that Russians and Ukrainians are ethnically identical explains the rejection of Ukraine’s independent millennium-long history.

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.

Bank of Russia moves up rate meeting with rouble rally unabated

25 May 2022 /  Bloomberg News
The Russian currency extended gains after the announcement, albeit at a slower pace than on previous days.
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Russia pushed closer to brink of default after US payment license expires

25 May 2022 /  Daphne Psaledakis, Rami Ayyub and Emily Chan
That waiver has allowed Russia to keep up government debt payments, but its expiry now appears to make default inevitable.

Russia plans to reopen port in occupied Mariupol

25 May 2022 /  Bloomberg News
As Estonia and Lithuania push for European nations to send warships into the Black Sea to protect freighters carrying Ukrainian grain from potential Kremlin interference.
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.
UPDATE

Rising global food protectionism risks worsening inflation

25 May 2022 /  Low De Wei, Bloomberg
Countries are restricting exports to cope with high prices that have been exacerbated by the war in Ukraine.
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Ukraine latest: options to get grain out past Russia’s blockade

24 May 2022 /  Bloomberg News
Estonian President Alar Karis said the priority is to ensure supplies reach Africa and other developing nations.

Samsung to invest $356bn over five years in strategic sectors

24 May 2022 /  Byungwook Kim, Reuters
Securing domestic chip and bio supply chains will have strategic significance and be important for South Korea's economic security.

World economy has ‘buffer’ against recession says IMF’s Gopinath

24 May 2022 /  Alessandra Galloni and Dan Burns, Reuters
'I would say at 3.6% there is a buffer,' she said, conceding, however, that risks are uneven around the world.
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Bank of America, Unilever weigh into Musk ESG spat: Davos update

24 May 2022 /  Bloomberg News
Russia’s war in Ukraine hangs over the gathering, as global leaders also grapple with energy inflation, food shortages and climate change.

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