Business | Edition 27 May 2023

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Great Britain annual ranking inflation it fell sharply in April, to 8.7%. But the fall was smaller than expected, as the increase in energy prices last April fell out of the annual comparison. Headline inflation, excluding energy and food, rose again to 6.8%; food prices increased by 19.1%. The yield on British government bonds jumped as markets bet that interest rates would rise further. Earlier, Andrew Bailey, governor of the Bank of England, admitted that there are “big lessons to be learned” as a result of the failure of the bank’s economic models to predict the persistence of high inflation.

An updated assessment of Germany GDP the first quarter showed that the economy contracted by 0.3% over the previous three months. That means Germany is technically in recession, as the economy shrank by 0.5% in the fourth quarter of 2022.

The European Union fined him €1.2bn ($1.3bn). Metathe owner of Facebook, for breaking the rules on the transfer of personal data from the website EU to America. The greatest punishment is the EU on a company for privacy violations. The decision gives Meta six months to stop processing data in America it holds EU citizens. Meta described the actions as “unacceptable” and said it would appeal against the fine.

China forbidden memory chips made by Micron, an American company, from being used in the development of the country’s infrastructure, a tit-for-tat move in response to America’s ban on Chinese technology. China said Micron’s chips “pose a serious threat to security”. America has reportedly asked South Korea to stop Samsung and SK Hynix, which makes chips similar to Micron, from filling the gap in the Chinese market that will be left by the absence of Micron.

TikTok filed a lawsuit against Montana for its decision to ban the social media app, the first state ban on TikTok in America. The Chinese company argues that the ban is unconstitutional, and that Montana’s claim that TikTok shares data with the Chinese government is based on “baseless speculation”.

Apple he announced an agreement in which Broadcoma large American manufacturer of semiconductors, supplies 5G components for the iPhone. Concerned about claims that it relies on China to assemble its devices, Tim Cook, Apple’s chief executive, said that “every Apple product relies on technology engineered and built in this” in the United States.

China overtook Japan as the world largest exporter of cars in the first quarter, mainly due to the expansion of the production of electric vehicles. China exported a total of more than 1m vehicles in the three months, compared to Japan’s 950,000.

Lady Luck smiles again

There was more evidence that it was Gambling industry in Macau he is back from covid and crack on bet with the authorities. Galaxy Entertainment, which owns hotels and casinos in the Chinese region, said its net income was 72% higher in the first quarter than a year earlier. Other resort operators have reported similar results. Macau casinos now focus on catering to ordinary punters, rather than the high rollers who attracted the attention of officials.

Citigroup abandoned plans to find a buyer for it Banamexbank chain in Mexico that he bought in 2001, and instead spun off the business in IPO, maybe in 2025.

There is a shell climate change activists caused a stir at the annual meeting. Led by green investors, 20% of the shareholders present rejected the company’s energy transition plan, saying its timetable for fossil fuel production is too slow.

Facing what he described as “volatile conditions”, Target removal of certain related products LGBT proud of its stores. The seller said that in some cases customers have confronted employees about the products. The pride range includes books aimed at young children with titles such as “I’m Not a Girl” and “The Pronoun Book”.

Virgo Orbit was terminated, less than two months after filing for bankruptcy protection. Sales of the rocket launch company’s assets received just $36m, about 1% of the $3.7bn it was valued at when it went on the Nasdaq stock exchange in 2021.

The terminator

Netflix the long-running crackdown on sharing passwords began. The streaming giant sent emails to subscribers in 100 countries reminding them that only one household can watch Netflix on one account. Viewers will receive ads when they play; those with passwords outside the house will be suspended. The decision to be difficult now has nothing to do with the company’s decision PR names Arnold Schwarzenegger as “chief executive officer”.

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