REUTERS WORLD NEWS: Biden Cancels Student Debt, Deadly Rus Attack, Taiwan Ups Defense Budget, More

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Reuters
The Reuters Daily Briefing

Thursday, August 25, 2022

by Linda Noakes

Hello

Here’s what you need to know.

Biden forgives millions of student loans, a Russian attack kills 25 civilians on Ukraine’s Independence Day, and the Twitter staff exodus accelerates

Today’s biggest stories

President Joe Biden greets people after arriving at the White House from a trip to Delaware, August 24, 2022. REUTERS/Leah Millis

U.S.

A man stands next to his car, destroyed by a Russian military strike, in Chaplyne, Dnipropetrovsk region, Ukraine, August 24, 2022. REUTERS/Dmytro Smolienko

WORLD

BUSINESS

  • Russia’s record employment signals a surprisingly smooth decoupling from the West. Its rapid replacement of McDonald’s and Starbucks says business as usual. Yet pressures are building inside its economic machine.
  • It will be a chilly winter for global stocks, according to analysts in a Reuters poll who cut year-end predictions for most major indices from three months ago and warned the risks to that already-dull outlook were skewed to the downside.
  • Sony said it was hiking the price of its PlayStation 5 games console in markets including Europe, Japan and Britain following economic pressures including rising interest rates.
  • India’s New Delhi Television sought to block Gautam Adani’s attempt to acquire a majority stake in the news network, saying regulatory restrictions meant the bid from the billionaire tycoon’s group could not proceed. NDTV is regarded by some as one of the few independent voices in India’s rapidly polarizing media landscape.
  • Twitter is facing more employee departures, company executives told staff, as leaders sought to address multiple challenges, including whistleblower allegations and a legal battle with billionaire Elon Musk. Employee attrition is currently 18.3%, Twitter executives said during a company-wide meeting, audio of which was heard by Reuters.
  • Britain’s drinks and food industry raised the alarm over the availability of carbon dioxide after soaring energy prices forced a major producer to pause its operations. CF Fertilisers UK took a decision to temporarily halt ammonia production at its Billingham plant, which produces CO2 as a by-product that is used to put fizz into beer and stun poultry and pigs before slaughter.
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