Music Companies Sue Twitter for Alleged Copyright Violations
The National Music Publishers’ Association sued Twitter Inc. Wednesday, alleging it violates the copyright of songwriters by using their music on its platform without permission.
Bloomberg Business
Powell Says Nearly All Officials Expect ‘Some’ Further Fed Hikes
Federal Reserve officials paused on Wednesday following 15 months of interest-rate hikes but signaled they would likely resume tightening at some point to cool inflation.
Brazil’s Lula in Tough Spot With Conservative House, Cosan Chairman Says
A very conservative Brazilian congress will test President Luiz Inacio Lula da Silva’s ability to deliver on his social agenda without pushing for ideologically-driven policies that would be “rejected by the majority of the population,” according to commodities mogul Rubens Ometto.
JetBlue’s New Hues Spruce Up Planes With Growth Plans in Limbo
JetBlue Airways Corp. isn’t waiting for federal regulators to reverse course on antitrust initiatives before celebrating itself with a new look to turn heads on runways.
Volkswagen’s Canadian Subsidy Won’t Be Taxable, Minister Says
Volkswagen AG won’t have to pay taxes on C$13.9 billion ($10.4 billion) in subsidies for its new battery plant, Canada’s finance minister said, allowing the government to avoid extra costs outlined in a spending watchdog’s report.
Oil Falls as Surging Stockpiles, Fed Signals Damage Sentiment
Oil dropped as a massive increase in US crude stockpiles and the Federal Reserve’s hints that rate hikes will continue crushed the risk-on sentiment that prevailed earlier in the day.
MOVEit Cyberattack Hits UK Printing Firm Used by Big Banks, Insurers
A UK printing firm that sends mail for clients ranging from major health-insurance providers to multinational banks was a victim of the extensive MOVEit cyberattack.
US Companies Scramble to Cuts Costs, Pay Down Debt as Interest Rates Surge
As the Federal Reserve signals it will likely tighten the money supply further, corporate treasurers are scrambling to cope with the impact of more than a year of central bank rate hikes, taking steps like cutting costs and paying down debt.
Schwab Sees Second-Quarter Revenue Declining as Much as 11%
Charles Schwab Corp. expects its revenue to slide as much as 11% in the second quarter compared with a year earlier, the company’s Chief Financial Officer Peter Crawford said in a statement Wednesday.
Perella Weinberg Cutting 7% of Headcount to Allow for Hiring
Perella Weinberg Partners is trimming about 7% of its headcount to free up funds for hiring top banking talent, according to a person with knowledge of the plans.
