Meloni Government Picks ECB’s Panetta as Bank of Italy Governor
Italian Prime Minister Giorgia Meloni’s government has selected European Central Bank Executive Board member Fabio Panetta to succeed Ignazio Visco as the next Bank of Italy governor.
Bloomberg Business
Gerald Meyers, Auto Executive Behind the AMC Pacer, Dies at 94
Gerald Meyers, who sought to save the American Motors Corp. by introducing the unusual, bubble-like AMC Pacer, then arranged the struggling automaker’s takeover by France’s Renault SA, has died. He was 94.
Treasuries Fall as Economic Data Puts Pressure on Fed to Tighten
Treasuries declined as stronger-than-expected data on home sales and consumer confidence underscored the resilience of the US economy, fueling bets that the Federal Reserve will resume raising interest rates after this month’s pause.
California Reaches $311-Billion Budget Deal: Here’s What You Need to Know
California Governor Gavin Newsom and state legislators reached a budget deal, agreeing on a $311 billion spending plan that covers a $32 billion shortfall without dipping into the state’s rainy-day reserves.
Generac Sees Rising Demand for Backup Power Generators During Texas Heat Wave
Generac Holdings Inc. is seeing rising demand for its backup power generators in Texas, where searing heat has been testing the reliability of the state’s main electric grid.
Belarus Leader Lukashenko Says He Told Wagner Chief to Stop or Be Crushed
Belarusian President Alexander Lukashenko said he personally intervened with Vladimir Putin and the founder of the Wagner mercenary group to prevent bloodshed during the weekend mutiny in Russia.
ECB Rate Pause Needs ‘Clear’ Sign of Core Easing, Wunsch Says
The European Central Bank needs evidence that underlying inflation is firmly in retreat before it can considering pausing interest-rate increases, according to Governing Council member Pierre Wunsch.
Surprisingly Strong US Economic Data Keeps Recession Fears at Bay
A flurry of data showed surprising strength in several corners of the US economy, painting a picture of resilience and further delaying any likelihood of recession.
Chile’s President Boric Takes Another Blow to Popularity as Graft Accusations Hit Key Allies
Chilean President Gabriel Boric’s coalition is under scrutiny as members of one of its parties face corruption and influence trafficking accusations, compounding challenges facing the leftist government.
FOMO Rally for World’s Worst-Rated Bonds Comes to an Abrupt End
A feel-good rally that dragged down borrowing costs for the world’s worst rated bonds to a four-month low has come to an abrupt end.
