Commerzbank to Take $372 Million Charge on Polish Mortgages
Commerzbank AG will take a charge of 342 million euros ($372 million) in the second quarter on some Polish mortgages after an unfavorable court ruling last week.
Bloomberg Business
Credit Suisse Unit Loses $607 Million Rogue-Banker Damages Fight
A Credit Suisse Group AG unit lost its appeal of a $607 million damages bill for failing to rein in a rogue banker who defrauded a Georgian billionaire client.
Fed’s Bostic Says Tackling High Inflation Is Top Priority
Federal Reserve Bank of Atlanta President Raphael Bostic put the dovish case for keeping interest rates on hold, repeating his view that officials have already done enough to bring inflation down to their 2% goal.
Malawi Establishes Agency to Oversee Trade, Marketing of Carbon Credits
Malawi has created an agency to oversee its trade and marketing of carbon emission offsets, President Lazarus Chakwera said.
Fortress-Led Group Set to Acquire Vice Out of Bankruptcy
Bankrupt media company Vice Group Holding Inc. won court approval to sell its main business to a group of its lenders led by Fortress Investment Group, Soros Fund Management and Monroe Capital in a transaction worth roughly $350 million.
Doomed Submersible’s Waivers Aren’t Enough to Ward Off Lawsuits
The passengers killed aboard OceanGate’s Titan submersible signed waivers agreeing the trip to the bottom of the Atlantic might result in injury or death. But that may not be enough to protect the company from lawsuits.
EU Weighs Easing GMO Rules in Climate and Food Security Push
The European Commission will propose relaxing some of its rules on crop technology in an effort to ensure food security and help farmers cope with climate change.
Ukraine Recap: Russian Missile Attack Thwarted at Airfield Southwest of Kyiv
Russia’s invasion of Ukraine is about to hit the 16-month mark. Kyiv’s ground counteroffensive in the south and east presses on while meeting strong resistance from heavily fortified Kremlin forces. A top Zelenskiy aide lamented delays by Western allies to provide more weapons. “Breaking the Russian front today requires a reasonable and balanced approach,” Mykhailo Podolyak said on Twitter. Yevgeny Prigozhin, head of the Wagner militia group, said Russian troops are sustaining heavy casualties i
German €11 Billion Defense Orders Set for Lawmaker Approval
German lawmakers will sign off in early July on government plans to buy 60 Boeing Co. Chinook helicopters and three maritime surveillance vessels for a total of more than €11 billion ($11.9 billion), according to people familiar with the plans.
Consumers, Not Factories, Are Carrying the Global Economy
The world economy shows increasing signs of cruising on one engine, relying on services for momentum as factories from Japan to the US slow production lines and struggle to clinch orders.
