Newsletter Nov 15, 2022

Less and late: UK gives $1 billion to global disease fight

The British government said on Monday it would contribute 1 billion pounds ($1.18 billion) to the Global Fund to fight AIDS, tuberculosis and malaria, more than six weeks after other countries made their commitments.

French, British rescuers passed buck as migrants drowned: reports

The number of migrants crossing the Channel from France to England has soared over the last five years from almost none to 42,000 this year.

Britain to urge G20 to take coordinated action on economic instability

British Prime Minister Rishi Sunak will call on the Group of 20 (G20) for coordinated action to address international economic instability and the rising cost of living in the wake of Russia's invasion of Ukraine, his government said on Monday.

UK to end deployment of 300 troops to UN mission in Mali

Britain dispatched 300 troops to Mali in December 2020 to join MINUSMA, a force drawn from dozens of countries aiming to bolster the troubled Sahel nation.

France, UK sign new deal to thwart migrant Channel crossings

Britain agreed to pay France another 72.2 million euros ($74.5 million) to prevent migrant boat crossings under a new deal signed on Monday that underlines improving ties between the neighbours.

King Charles III, ruler for two months, turns 74

His birthday fell a day after Remembrance Sunday, when he led a sombre tribute to Britain's war dead at London's Cenotaph for the first time as monarch.

Oil prices slip on OPEC cut in demand forecast, China COVID cases

Oil prices extended losses in early Asian trade on Tuesday after OPEC cut its 2022 global demand forecast, while rising COVID-19 case numbers in China clouded the outlook for fuel consumption in the world's top crude importing nation.

Biden, Xi stress need to work together as they meet for talks ahead of G20

Chinese leader Xi Jinping and U.S. President Joe Biden met on Monday for long-awaited talks that come as relations between their countries are at their lowest in decades, marred by disagreements over a host of issues from Taiwan to trade.

Europe must avoid over-reliance on China, says EU leader

Europe will engage with China but needs to "rebalance" the relationship to avoid becoming too reliant on the country for areas like innovative technology, European Council President Charles Michel said on Tuesday.

Elon Musk trial opens to decide fate of his $56 billion Tesla pay

Tesla CEO Elon Musk is scheduled to take the stand this week to defend his $56 billion pay package against shareholder allegations it was rigged with easy performance targets and that investors were duped into approving it.

Crypto.com says balance sheet strong, exchange not in trouble

Singapore-based crypto exchange Crypto.com's chief executive said the firm will prove all naysayers wrong on the platform being in trouble, and that it has a robust balance sheet and took no risks.

Amazon to lay off thousands of employees -source

Amazon.com Inc is planning to lay off around 10,000 employees in corporate and technology roles beginning this week, a person familiar with the matter said on Monday, in what would amount to its biggest such reduction to date.

Electric vehicle makers burning cash, slammed by sky-high costs

Every time Lucid Group Inc or Rivian Automotive Inc sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed.

EU sanctions to target Iran Guards 'inner circle', Germany says

Fresh European Union sanctions will target the "inner circle of power" of Iran's Revolutionary Guards, Germany said on Monday as the bloc convened to respond to what it has condemned as Tehran's widespread use of force against peaceful protesters.