Fed Set to Raise Rates in July Despite Inflation Slowdown
Federal Reserve officials appear poised to resume interest-rate hikes this month after data showed inflation cooled sharply in June but remains above the central bank’s target.
Bloomberg Business
Illumina Hit With $476 Million Fine From EU for Hasty Grail Deal
Illumina Inc. was hit with a €432 million ($476 million) fine for acquiring cancer-test provider Grail Inc. before it was vetted by the European Union, in a test of the bloc’s regulatory power outside its borders.
Trump’s SPAC Deal Tests Stock-Market Faithful With Clock Ticking
In politics, Donald Trump has held on to a faithful following even as his legal problems cast doubt on his future. The same goes in one risky corner of the stock market.
US Consumer Watchdog Puts Card Issuers on Notice After BofA ‘Junk Fee’ Settlement
The top US consumer watchdog will closely monitor whether credit-card issuers follow through on their marketing promises of sign-up bonuses and other perks following Tuesday’s $250 million enforcement action against Bank of America Corp.
Amazon Prime Day Pushes US Online Sales Up 6% in First 24 Hours
US consumers spent $6.4 billion online in the first 24 hours of Amazon.com Inc.’s Prime Day, according to Adobe Inc. That’s up 6% from a year ago but fell short of estimates for even stronger growth as shoppers hunt for bargains.
Domino’s Pizza Shares Jump on a Deal Allowing Orders Through Uber Eats
Domino’s Pizza Inc. shares jumped after the company announced a third-party ordering agreement with Uber Technologies Inc.
Key Takeaways From Bank of Canada’s Decision to Raise Rates to 5%
The Bank of Canada raised its overnight lending rate by 25 basis points to 5% on Wednesday in Ottawa. The move, which was expected by a majority of economists in a Bloomberg survey, brings benchmark borrowing costs to their highest in 22 years. Here are the key takeaways:
DeSantis Says No Thanks to $377 Million in US Energy Funds
Florida Republican Governor and 2024 presidential contender Ron DeSantis quietly rejected hundreds of millions of dollars in federal energy funding, as the Biden administration touts the benefits of its marquee climate law on the campaign trail in battleground states.
TCS Profit Beats Estimates on Demand for Software Services
Tata Consultancy Services Ltd.’s first-quarter profit beat analysts’ estimates after the IT services provider won orders in a tough climate for information-technology services.
Rivian Breakout Is Expanding the Rift in EV Stocks
Investors are showing a willingness to give beaten-down electric-vehicle stocks another chance, but they’re being more discerning this time when it comes to company performance.
