Ford Supplier Says US-China Tensions Keep Batteries Costly
The billionaire chairman of SK Group, a key supplier to Ford Motor Co., said tensions between the US and China will keep electric-vehicle battery prices higher for longer.
Bloomberg Business
IMF Sees Inflation, Growth Risks If Israel-Hamas War Widens
The International Monetary Fund’s No. 2 official says that the war between Israel and Hamas could spur inflation and hamper global growth if it turns into a wider conflict that causes a significant increase in oil prices.
Yellen Says US Is Not Ruling Out New Sanctions Against Iran
US Treasury Secretary Janet Yellen said the Biden administration hasn’t ruled out new sanctions against Iran in relation to renewed conflict in the Middle East, but no decisions have been made.
Largest US Banks Grapple With Worst Write-Offs in Three Years
The biggest US banks are poised to write off more bad loans than they have since the early days of the pandemic as higher-for-longer interest rates and a potential economic downturn are putting borrowers in a bind.
Slovakia’s Fico to Return to Power as Coalition Deal Sealed
Slovakia’s Robert Fico won the backing of two allied parties, putting the former prime minister who campaigned to end military aid to Ukraine on course to return to power this month.
China Frees Detained Australian in Sign of Improving Ties
Journalist Cheng Lei has returned to Australia after her release from about three years of detention in China, in a major sign of diplomatic warming after years of tensions between the nations.
Relativity Space Inks Multiyear Launch Contract From Intelsat
Relativity Space Inc., which builds mostly 3D-printed rockets, has won a multiyear contract to launch Intelsat satellites using its future Terran R rocket, the company said on Wednesday.
Billionaire Marcelo Claure Takes Stake in Brazil’s EB Capital
Billionaire Marcelo Claure, the former SoftBank Group Corp. executive, said he made an investment in Brazil’s EB Capital that gives him a “significant” stake in the investment firm, and that he will become a company partner and vice chairman.
Oil Majors Threaten Arbitration Over Kazakh Environment Fine
The oil majors behind the giant Kashagan oil field have told Kazakhstan’s government that they may seek international arbitration in a dispute over a $5 billion environmental fine, according to people familiar with the matter.
India Carries Out More Raids on News Outlet Critical of Modi
An Indian crime investigating agency raided the office of an online news portal and the home of its founder, according to people familiar with the matter, as a crackdown intensifies against a media outlet critical of Prime Minister Narendra Modi.
