ECB Hikes By Half-Point And Vows More Before Reassessing

(Bloomberg) — The European Central Bank lifted interest rates by a half-point and pledged another such move before officials then take stock of where borrowing costs must go to tame inflation. Policymakers, as expected, raised the deposit rate to 2.5%, the highest since 2008. They warned that the most aggressive bout of monetary tightening in … Read more

Bigger Is Better in India’s Nascent Electric Car Market

Demand for smaller SUVs has been surging in India. They’re suited for the country’s driving conditions, which can vary vastly from smooth multi-lane freeways to rutted streets crowded with rickshaws, dogs and cows. They also offer aspirational buyers an important, yet affordable, status symbol, perching drivers above the masses. And while larger electric SUVs tend … Read more

Poland Wants Allies to Send Up To 100 Tanks to Support Ukraine

Germany “should now feel more responsible to support Ukraine,” Morawiecki told Bloomberg Television at the World Economic Forum in Davos, Switzerland. The government in Warsaw wants to “inspire others” to send as many as 100 tanks so “we can make a difference in the battlefield in Ukraine.”

The Global Economy Of 2023 Is Going To Be A Wild Ride

Plentiful cheap labor, low energy and transportation costs and a generally peaceful era for geopolitics all helped turbocharge the globalization of supply chains and drive economic growth around the world in the decades after 1990. Whenever one of those pillars wobbled, there was cheap money to keep the party going, especially in the years after … Read more

Wall Street’s Lucrative Leveraged-Debt Machine Is Breaking Down

(Bloomberg) — One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust. After driving a flurry of mega buyouts that contributed to a $1 trillion profit haul in the good times, … Read more

Saudi Arabia Eyes Boosting Investment in Pakistan to Over $10 Billion

It’s a strong commitment from Saudi Arabia, but likely to be subject to resumption of the IMF program, said Tahir Abbas, head of research at Karachi-based Arif Habib Ltd. “The investment would be in setting up a refinery in Pakistan, for which the government needs to complete modalities including finalization of refinery policy.”

Lula Asserts Authority in Brazil as 1,500 Bolsonaro Supporters Are Held

Instead, Bolsonaro’s most radical supporters used the camps as a base to plot actions against the new government, hoping that, if they unleashed chaos, the military would step in and take power. In late December, there was a bomb scare near Brasilia’s airport. More than a hundred buses of Bolsonaro supporters arrived in the capital … Read more

McCarthy Turmoil Is Grim Omen for Debt Limit, Spending Talks

WASHINGTON, DC – JANUARY 04: U.S. House Republican Leader Kevin McCarthy (R-CA) speaks to media as he leaves the House Chamber during the second day of elections for Speaker of the House at the U.S. Capitol Building on January 04, 2023 in Washington, DC. The House of Representatives is meeting to vote for the next … Read more