Citi Gets Credit Card Boost as Borrowers Start to Struggle
Citigroup Inc., the world’s second-largest credit-card issuer, is reaping the gains as customers borrow more — even as a growing number struggle to make payments.
Bloomberg Business
Key GAM Shareholder Joins Resistance to Liontrust Takeover Move
GAM Holding AG’s third largest shareholder is not supporting Liontrust Asset Management’s bid to take over the Swiss money manager.
Singapore’s Widening Corruption Probe: What You Need to Know
Singapore was rocked by news this week that a cabinet minister and a property tycoon were arrested in one of the most serious graft cases in nearly four decades.
Biden’s Energy Funds Fall Behind Schedule Over China Scrutiny
Trying to incentivize companies to break from China’s battery supply chain is proving tricky.
Singapore Arrests Minister, Property Tycoon in Graft Probe
Singapore said it arrested Transport Minister S. Iswaran and property tycoon Ong Beng Seng earlier this week in a graft probe that has challenged the city-state’s reputation for clean governance.
Wells Fargo Lifts Net Interest Income Guidance on Rate Hikes
Wells Fargo & Co. earned more net interest income than analysts expected in the second quarter and lifted its guidance for the full year as big US banks continue to benefit from the Federal Reserve’s rate hikes.
Fed’s Goolsbee Says Latest Inflation Data Promising, But Still High
Federal Reserve Bank of Chicago President Austan Goolsbee said recent consumer-price data showing inflation easing was “promising,” though inflation is still higher than policymakers’ 2% goal.
JPMorgan Posts Record Revenue on Rates, First Republic Deal
JPMorgan Chase & Co.’s revenue soared to a record in the second quarter, boosted by the Federal Reserve’s interest-rate hikes and its acquisition of First Republic Bank.
Major Libyan Oil Field Fully Halted as Tensions Resurface
A major oil field in Libya was fully halted as political tensions resurfaced in the nation that sits atop Africa’s biggest reserves.
Toughest ESG Rule Yet Puts EU on Collision Course With US
The woman in charge of getting Europe’s toughest piece of ESG legislation through the bloc’s parliament says she’s confident the US will embrace the global accountability the bill introduces, once politicians stop being distracted by lobbyists.
