Bloomberg - Evening Briefing - Pelosi takes on China

Bloomberg Evening Briefing

US House Speaker Nancy Pelosi is expected to visit Taiwan on Tuesday, ignoring Chinese threats of reprisals if her trip to the island democracy takes place. Pelosi would become the first sitting speaker to visit Taiwan in 25 years: It would be a landmark move by the third-highest US elected official and may raise the risk of a military confrontation, given China’s long-held stance that Taiwan is its territory. A meeting between Pelosi and Taiwan President Tsai Ing-wen could happen on Wednesday, though Pelosi’s schedule is still in flux. China says its military would take unspecified action if the California Democrat visits and that it will not “sit idly by.” The Biden administration has in turn warned Beijing not to do anything rash. “We will not take the bait or engage in saber rattling,” National Security Council spokesman John Kirby said. “At the same time, we will not be intimidated. We will keep operating in the seas and the skies of the Western Pacific as we have for decades.” 

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US equities snapped a three-day rally amid some hawkish comments from Federal Reserve officials and data showing slower growth in the manufacturing sector. The S&P 500 fell and the tech-heavy Nasdaq 100 was little changed after rising as much as 1.1%. Here’s your markets wrap.

Moscow is leaning toward rejecting a prisoner swap unless it gets two Russians in return for the two Americans the US wants released.

Germany has little time to lose to avert an energy shortage this winter that would be unprecedented for a developed nation. And it’s just the beginning of a crisis that will ripple across Europe. 

Apple is tapping the high-grade bond market with a sale in up to four parts. The longest portion of the offering, a 40-year security, may yield around 150 basis points over US Treasuries. 

Tim Cook, chief executive officer of Apple. Photographer: David Paul Morris/Bloomberg

The Bank of England this week is expected to push through the biggest interest-rate increase in 27 years and unveil its strategy for unwinding some of the £895 billion ($1.1 trillion) of stimulus it delivered over the past decade.

A man who died in India after testing positive for monkeypox in the United Arab Emirates may be Asia’s first fatality linked to the global outbreak.

The Grosvenor dynasty, which traces the origins of its multibillion-dollar fortune to a dowry from the parents of a 12-year-old bride, has passed its main source of wealth down the male line for centuries. The new twist for the Grosvenors: Women are increasingly playing a major role at the family’s namesake investment firm.

What you’ll need to know tomorrow

P&G Just Wants You to Use Your Dishwasher

Nearly one in five dishwashers in the US—totaling 17 million households—sit idle largely because people think they’re ineffective and wasteful. Both assumptions, it turns out, are wrong. Modern models only use about 10% of the water that cleaning dishes by hand does, according to the Environmental Protection Agency. P&G wants to take advantage of this fact, which has the added benefit of being touted by pro-environment groups, by pumping out a steady stream of ads highlighting it alongside Cascade product upgrades.

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