Lagarde Is Preparing Europe for a Hit to Growth as the US Soars
Christine Lagarde is confronting how tighter monetary policy is driving the euro-zone economy into the ground in her bid to bring inflation under control.
Bloomberg Business
ECB Discussion Suggested Risks to Inflation Outlook Seen as Balanced
European Central Bank officials appeared to view risks to the euro area’s inflation outlook as balanced, according to people familiar with Thursday’s policy debate.
US Office Space Is on Track to Shrink for First Time on Record
Office buildings are poised to set records for a bad reason this year: The amount of office space in the US is declining for what is likely the first time in history.
Fed’s New Payments Network Will Provide Boon to Fintechs, Plaid CEO Says
The Federal Reserve’s new payments system will serve as a catalyst for financial-technology companies, which can use the network to send payments more quickly, said Plaid Inc. Chief Executive Officer Zach Perret.
Lumen Creditors Tap Law Firm Davis Polk to Probe Debt Covenants
A group of Lumen Technologies Inc. creditors has hired Davis Polk & Wardwell to analyze its debt covenants and start talks with the company, according to people with knowledge of the situation.
Gasoline Prices in US Hit Eight-Month High in Biden Setback
Gasoline prices in the US surged to their highest level since November, a blow to drivers and a challenge for President Joe Biden.
Supreme Court Lets Work Resume on Gas Pipeline Backed by Manchin
The US Supreme Court let Equitrans Midstream Corp. resume construction on its controversial Mountain Valley Pipeline, granting a company request and lifting lower-court orders that had blocked work on the $6.6 billion project.
Goldman, Morgan Stanley Try to Curb Derivatives Losses in Brazil
Goldman Sachs Group Inc. and Morgan Stanley asked for more collateral from the struggling Brazilian chemical producer Unigel Participacoes SA as the Wall Street firms try to stem losses on their Brazil derivatives businesses, people familiar with the matter said.
SEC’s Gensler Warns of Stability Risks in Leveraged Treasury Trades
Wall Street’s top watchdog is re-invigorating his push to boost regulation of leveraged trading in US Treasuries, which he says poses an acute risk to financial stability.
Biden Says Extreme Heat Costing US $100 Billion Annually
President Joe Biden said extreme heat is costing the US $100 billion a year and linked it directly to climate change as he detailed steps his administration is taking to protect Americans from record-high temperatures.
