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ALSO STREAMING ON YOUR TV: * * Markets Markets * Economics * Deals * Odd Lots * The FIX | Fixed Income * ETFs * FX * Factor Investing * Alternative Investing * Economic Calendar * Markets Magazine MARKETS Currency Drama in Egypt Has Investors Clamoring for Devaluation PROGNOSIS All You Need to Know About Moderna’s Omicron-Targeted Covid Vaccine MARKET DATA * Stocks * Commodities * Rates & Bonds * Currencies * Futures * Sectors FOLLOW BLOOMBERG MARKETS View More Markets * Technology Technology * Work Shifting * Code Wars * Checkout * Prognosis TECHNOLOGY Ratan Tata, 84, Backs Startup That Staves Off Senior Loneliness CLOUD Big Tech Helps Big Oil Pump More, Belying Climate Pledges TECHNOLOGY Apple Lays Off Recruiters as Part of Its Slowdown in Hiring FOLLOW BLOOMBERG TECHNOLOGY View More Technology * Politics Politics * US * UK * Americas * Europe * Asia * Middle East POLITICS Russia, Turkey Spar Over Air-Defense Sale That US Opposes POLITICS First Lady Jill Biden Tests Positive for Covid on Vacation FEATURED * Hong Kong's 25 Years Under China * Next China FOLLOW BLOOMBERG POLITICS View More Politics * Wealth Wealth * Investing * Living * Opinion & Advice * Savings & Retirement * Taxes * Reinvention WEALTH UK’s Iceland Chain Lets Shoppers Pay for Food in Installments LIVING US Housing Cools Further With Fewer Starts, More Canceled Deals FEATURED * How to Invest FOLLOW BLOOMBERG WEALTH View More Wealth * Pursuits Pursuits * Travel * Autos * Homes * Living * Culture * Style PURSUITS Disneyland Restarts Annual Pass Program With Top Tier at $1,599 SCREENTIME Jeremy Paxman Stepping Down as University Challenge Host After Nearly Three Decades FEATURED * Screentime * New York Property Prices * Where to Go in 2022 FOLLOW BLOOMBERG PURSUITS View More Pursuits * Opinion Opinion * Business * Finance * Economics * Markets * Politics & Policy * Technology & Ideas * Editorials * Letters TRUNG PHAN AI Panned My Screenplay. Can It Crack Hollywood? 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Make Them More Local FOLLOW BLOOMBERG CITYLAB View More CityLab * Crypto Crypto * Decentralized Finance * NFTs * Regulation * Technology CRYPTO Crypto Nomads Move Back to Big Cities Like London, New York in Bear Market CRYPTO Crypto Hacks Soar as North Korea Targets DeFi CRYPTO How North Korea Became A Crypto Hacking Powerhouse FOLLOW BLOOMBERG CRYPTO View More Crypto * More -------------------------------------------------------------------------------- LATEST Markets Currency Drama in Egypt Has Investors Clamoring for Devaluation Netty Ismail 38m ago Politics Russia, Turkey Spar Over Air-Defense Sale That US Opposes Bloomberg News updated 40m ago Prognosis All You Need to Know About Moderna’s Omicron-Targeted Covid Vaccine Alex Millson and Dong Lyu updated 42m ago The shot engineered to take on world’s most widespread strain Weather & Science California Swelters With Power Demand Poised to Hit Summer High Brian K. Sullivan and Naureen S. Malik updated 44m ago Technology Amazon Accuses FTC of Harassing Bezos in ‘Burdensome’ Probe Emily Birnbaum updated 1h ago MOST READ Startups Adam Neumann’s New Startup Flow Gets Backing From Andreessen Horowitz Carrington York and Priya Anand The prominent venture capital firm backs the WeWork founder’s next move. Politics Saudi Billionaire Made $500 Million Russia Bet at War Onset Matthew Martin Markets Key European Power Price Doubles in Two Months as Crisis Deepens Todd Gillespie Markets Citadel Securities Revenue Surges to $4.2 Billion on Volatility Paula Seligson and Katherine Doherty updated 2h ago Markets Stocks Defy Gloomy Data to Close Near Day’s High: Markets Wrap Stephen Kirkland and Vildana Hajric Unable to load stories at this time. Retry article Markets Key European Power Price Hits Fresh Record as Gas Continues to Surge updated 51 minutes ago Germany Reaches Deal With Uniper, RWE on Floating LNG Plants Rhine River Is Set to Stay Low at Key Waypoint in Coming Days Major European Zinc Smelter to Shut Amid High Energy Costs Markets STOCKS PARE DROP AS DIP BUYERS EMERGE; YIELDS RISE: MARKETS WRAP Follow the latest developments in global markets. updated 18 minutes ago Wealth FAMILY OFFICE FOR $54 BILLION ZARA FORTUNE GOES ON DEAL SPREE Zara founder Amancio Ortega’s personal investment firm is on a quest to diversify. updated an hour ago Politics UKRAINE LATEST: EXPLOSION ROCKS DEPOT IN RUSSIAN-OCCUPIED CRIMEA Follow the latest updates on Russia's invasion of Ukraine. updated 58 minutes ago Business RYANAIR RAMPS UP UK OCTOBER CAPACITY, CITING HEATHROW CAP Ryanair is adding 500 flights to its autumn schedule from London Stansted. Video Player is loading. Play Video Pause Unmute Current Time 0:00 / Duration 0:00 Loaded: 0% 0:00 Progress: 0% Stream Type LIVE Remaining Time -0:00 Playback Rate 1x Chapters * Chapters Captions * captions settings, opens captions settings dialog * captions off, selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque Font Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps Reset restore all settings to the default valuesDone Close Modal Dialog End of dialog window. Play Again Live Live on Bloomberg TV Bloomberg Markets European Close Guests: Christian Mueller-Glissmann Economics INFLATION AT 9% AND RECESSION RISK AT 99% ADD UP TO PERIL FOR FED CityLab THESE SIX CITIES ARE EMERGING AS NEW EXPAT HOT SPOTS OPINION Lionel Laurent GREENSILL’S GHOST WILL HAUNT THE FINANCE WORLD SoftBank and Credit Suisse are the ones preparing for a legal showdown, but there’s a lesson here for everyone. John Authers CHINA SURPRISE DATA COULD SPELL R-E-C-E-S-S-I-O-N The devil in the details leaves the central bank no choice but to ease. Markets should expect bad news if the crisis grows worse. Marcus Ashworth EUROPEAN CREDIT IS POISED FOR A RENAISSANCE Second-half rebound in corporate debt sales is likely as market turbulence ebbs. Maria Tadeo ITALY'S RIGHT CLINGS TO THE PAST — AND FALLS FLAT The country’s right-wing coalition unveiled a policy manifesto that can essentially be summed up as patriotic talk and a cocktail of misguided tax cuts. The Editors EUROPE’S NEXT UKRAINE MISSION IS ON THE HOME FRONT Vladimir Putin is betting Western unity will crumble as gas and food prices surge and winter sets in. Here’s how to prove him wrong. More from Opinion OPINION Lionel Laurent GREENSILL’S GHOST WILL HAUNT THE FINANCE WORLD SoftBank and Credit Suisse are the ones preparing for a legal showdown, but there’s a lesson here for everyone. John Authers CHINA SURPRISE DATA COULD SPELL R-E-C-E-S-S-I-O-N The devil in the details leaves the central bank no choice but to ease. Markets should expect bad news if the crisis grows worse. Marcus Ashworth EUROPEAN CREDIT IS POISED FOR A RENAISSANCE Second-half rebound in corporate debt sales is likely as market turbulence ebbs. Maria Tadeo ITALY'S RIGHT CLINGS TO THE PAST — AND FALLS FLAT The country’s right-wing coalition unveiled a policy manifesto that can essentially be summed up as patriotic talk and a cocktail of misguided tax cuts. The Editors EUROPE’S NEXT UKRAINE MISSION IS ON THE HOME FRONT Vladimir Putin is betting Western unity will crumble as gas and food prices surge and winter sets in. Here’s how to prove him wrong. More from Opinion One story you'll want to talk about. Get The Big Take newsletter in your inbox daily. Sign Up Bloomberg may send me offers and promotions. By submitting my information, I agree to the Privacy Policy and Terms of Service Green POLAND SEEKS HELP TO FIND CAUSE OF ODER RIVER CONTAMINATION updated 3 hours ago Politics RUSSIAN MERCENARIES SEEK GOLD, SOW CHAOS IN CENTRAL AFRICA Future of British Business TOP ROLEX DEALER IN LONDON PLANS 8-FOLD EXPANSION TO MEET BOOMING DEMAND WAR IN UKRAINE Politics LULA’S TOP FOREIGN ADVISER SAYS US SANCTIONS ON RUSSIA A MISTAKE Politics RUSSIA, TURKEY SPAR OVER AIR-DEFENSE SALE THAT US OPPOSES updated 40 minutes ago Politics UKRAINE LATEST: EXPLOSION ROCKS DEPOT IN RUSSIAN-OCCUPIED CRIMEA updated 58 minutes ago Editorial Board EUROPE’S NEXT UKRAINE MISSION IS ON THE HOME FRONT More coverage STORIES FOR YOU Markets GERMANY REACHES GAS STORAGE MILESTONE TWO WEEKS AHEAD OF PLAN Economics RUSSIA CRANKS UP BOOTLEG ECONOMY AND OFFERS RARE TALLY OF IMPORT Business HOW THE US TOPPLED THE WORLD’S MOST POWERFUL GOLD TRADER Markets JPMORGAN SAYS THE STOCK RALLY HAS LEGS. MORGAN STANLEY DISAGREES Politics & Policy WHY DID TRUMP TAKE CLASSIFIED DOCUMENTS IN THE FIRST PLACE? Weather & Science MUCH OF THE US WILL BE AN ‘EXTREME HEAT BELT’ BY THE 2050S CRYPTO Crypto CRYPTO NOMADS MOVE BACK TO BIG CITIES LIKE LONDON, NEW YORK IN BEAR MARKET updated an hour ago Crypto CRYPTO HACKS SOAR AS NORTH KOREA TARGETS DEFI updated 4 hours ago Remarks ANDREESSEN HOROWITZ THINKS IT’S TIME FOR ADAM NEUMANN TO BUILD Business TEXAS BUSINESSES HAVE AN INCENTIVE TO SAVE POWER—AND AID THE STATE’S ELECTRICITY GRID More from Crypto EQUALITY Politics US ASKS JUDGE TO DISMISS TEXAS SUIT OVER EMERGENCY ABORTION RULE updated 2 hours ago Equality SOUTH AFRICAN FIRMS MAKE SLOW PROGRESS HIRING FEMALE EXECUTIVES 2 hours ago Technology & Ideas FUTURE REMOTE WORKERS NEED TO NETWORK MORE — IN COLLEGE Economics WOMEN ARE SMASHING THE CONSTRUCTION INDUSTRY’S CONCRETE CEILING AS LABOR SHORTAGES LEAVE A VOID More from Equality The Business Network for the New Generation UP NEXT * On Now System Shock * 12:00 PM China+ * 01:00 PM Storylines: India Covid Crisis * 02:00 PM China+: Jack Ma's Fall From Grace Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration 0:00 Loaded: 0% Progress: 0% Stream Type LIVE Remaining Time -0:00 Playback Rate 1x Chapters * Chapters Captions * captions settings, opens captions settings dialog * captions off, selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque Font Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps Reset restore all settings to the default valuesDone Close Modal Dialog End of dialog window. Play Again Unmute LIVE NOW SYSTEM SHOCK Technology is changing how business is done in most every industry, but there are some who have been affected the most: like newspapers, manufacturing, healthcare and beyond. Quicktake Original series, System Shock, will tell the stories of this revolutionary technology. Start Watching And streaming on your TV: * * * * * Dead Men Become Fathers With Postmortem Sperm Retrieval CEOs Blame Work From Home for Slow Sales The New Magic Word for Branding Is Collaborations Making Vegan Eggs BLOOMBERG WEALTH Wealth UK’S ICELAND CHAIN LETS SHOPPERS PAY FOR FOOD IN INSTALLMENTS updated 46 minutes ago Living US HOUSING COOLS FURTHER WITH FEWER STARTS, MORE CANCELED DEALS updated an hour ago Wealth US HOME-SALE CANCELLATIONS SOAR IN JULY AS BUYERS PULL BACK 4 hours ago Savings & Retirement AMERICA’S $7 TRILLION RETIREMENT CRISIS IS ONLY GETTING WORSE updated 4 hours ago More on Wealth CityLab IT’S ‘VIRTUALLY IMPOSSIBLE’ TO FIND STREET PARKING IN NEW YORK CITY updated an hour ago Culture CHICAGO MUSIC FESTIVALS BRING REVENUE — AND TENSION — TO CITY updated an hour ago Economy HOW TO FIX FOOD SUPPLY CHAINS? MAKE THEM MORE LOCAL CityLab DEATHS MOUNT AT NYC’S RIKERS AS CITY ATTEMPTS TO ADDRESS SAFETY CRISIS Weather & Science BLOOMBERG GREEN Weather & Science California Swelters With Power Demand Poised to Hit Summer High updated 44 minutes ago Green SWEDEN TURNS TO BURNING OIL AS POWER PRICES SOAR TO RECORD updated an hour ago Electric Vehicles FORD TAPS GREEN BOND MARKET TO FUND EV DEVELOPMENT updated 26 minutes ago Weather & Science STARTUP BACKED BY HEMSWORTHS, PARIS HILTON PLANS TASMANIAN TIGER REVIVAL updated 4 hours ago Green SOUTH AFRICA BANS MOVEMENT OF CATTLE TO CURB DISEASE OUTBREAK More from Green March 29, 2022 October 29, 2021 April 19, 2021 December 15, 2020 September 14, 2020 June 9, 2020 Terms of Service Manage Cookies Trademarks Privacy Policy ©2022 Bloomberg L.P. All Rights Reserved Careers Made in NYC Advertise Ad Choices Help