Governments Shunting ‘Dirty Work’ on Inflation to Bank of Canada, CIBC Says
The Bank of Canada will have to keep rates higher for longer unless governments do more to dial back their spending, one of the country’s largest commercial lenders warned.
Bloomberg Business
Washington Post CEO Steps Down in Latest Executive Departure
Washington Post Publisher and Chief Executive Officer Fred Ryan is stepping down, the latest executive departure at the company as it tries to recapture subscriber growth seen during the Trump administration.
Todd Boehly, Jay Penske Buy Scandal-Tainted Golden Globes Awards
Investor Todd Boehly’s Eldridge and Dick Clark Productions, part of Jay Penske’s media empire, acquired the assets of the Golden Globe Awards from the Hollywood Foreign Press Association.
US Junk-Bond Maturities Shrink to Record Low as Debt Mountain Grows
US junk bonds have the shortest average time to maturity on record, signaling that companies will have large amounts of debt to refinance in the next few years.
Battle for Aluminum Stocks Is Draining LME of Non-Russian Metal
The trader that last month built up a dominant position in aluminum has begun taking delivery of some metal while rejecting supplies produced in Russia, the latest evidence of a diverging market that is leaving the London Metal Exchange contract increasingly dependent on Russian material.
Food-Delivery Service Grubhub to Lay Off About 15% of Workforce to Reduce Costs
Grubhub will lay off roughly 15% of its workforce as the food-delivery service seeks to cut rising costs, the company said on Monday.
Homebuilders Poised to Rally Further With Fed Pausing, Demand Rising, Citi Says
Citigroup Inc.’s analysts see several catalysts supporting further homebuilder outperformance through the second half of 2023.
As Summer Airline Travel Picks Up, So Does Unruly Behavior from Passengers
A warning as the Northern Hemisphere summer travel season kicks off: air rage is rampant in the post-pandemic world.
Colony IM in Talks to Buy Stake in Art Gallery Perrotin
Colony Investment Management is in talks to buy a 60% stake in Galerie Perrotin, the contemporary art business created by Emmanuel Perrotin, as the French dealer seeks funds to expand.
NatWest Hikes Rates, Santander Pulls Deals Amid UK Mortgage Pain
NatWest Group Plc has told brokers it will increase prices on some new and existing mortgages from Tuesday, becoming the latest British lender to respond to the spike in market rates.
