Briefly

FRANCE

Macron vows to raise retirement age

French President Emmanuel Macron vowed on Wednesday to implement a pension reform that would eventually push up the retirement age by three years to 65, making younger generations work longer. In an interview on France 2 television, Macron said the changes would start being applied next year. The minimum retirement age to get a full pension would be gradually increased from 62 now to 65 by 2031, he said.

SOUTH KOREA

Samsung names 3rd generation heir

Samsung Electronics has officially appointed third-generation heir Lee Jae-yong as executive chairman, two months after he secured a pardon of his conviction for bribing a former president in a corruption scandal that toppled a previous South Korean government. Lee's promotion is partially symbolic as he has helmed the Samsung group in his capacity as the electronics company's vice-chairman since 2014, when his late father, former chairman Lee Kunhee, had a heart attack.

EUROPE

ECB poised for bumper rate hike

The European Central Bank is expected to roll out another super-size rate hike to combat runaway inflation, despite concerns higher borrowing costs could deepen the pain of a looming eurozone recession. The ECB's 25-member governing council is likely to lift its key interest rates by 75 basis points for the second consecutive time, economists said. The Frankfurt institution is under pressure to rein in record-high inflation, driven by surging energy prices.

Agencies via Xinhua