Saudi Arabia’s Golf Deal Puts Biden and PGA in Same Awkward Position
The PGA Tour and President Joe Biden have learned the same hard lesson in recent months: Saudi Arabia is too rich and consequential to shun.
Bloomberg Business
Offshore Rigs Close In on $500,000 a Day as Oil Boom Returns to Sea
Drilling for oil in miles-deep ocean water is booming again with rig-rental prices forecast to climb another 18% after doubling over the past couple years, according to Wood Mackenzie Ltd.
France’s Le Maire Faces Probe Into Campaign Financing in 2016
French Finance Minister Bruno Le Maire is facing investigations into whether a political vehicle he created for a presidential primary in 2016 benefited from illegal financing.
Deutsche Bank’s DWS Weighs Return of Management Titles After Staff Complaints
Just over two years ago, Deutsche Bank AG’s investment arm eliminated the managing director title.
Slumping Cardboard-Box Sales Signal US Consumer Spending Slowdown
US paper mills are scaling back production as big-box retailers buy less cardboard, signaling a slowdown in consumer spending.
PGA Tour, LIV Golf Deal Faces Probe From US Senator Blumenthal
Senate Democrat Richard Blumenthal opened an investigation into the surprise merger between PGA Tour and LIV Golf, a deal that has already raised serious concerns among US and European antitrust regulators as well as scrutiny over Saudi Arabia’s involvement as LIV’s backer.
Billionaire Who Owned Much of London’s Chelsea Dies at 86
Charles Cadogan, the billionaire aristocrat behind one of London’s biggest real estate fortunes, has died. He was 86.
Near-Term Inflation Expectations Hit Two-Year Low in Fed Survey
US consumers’ near-term inflation expectations fell last month to the lowest level in two years as their outlook for personal finances and credit conditions worsened, according to a Federal Reserve Bank of New York survey.
Morgan Stanley, Goldman at Odds on S&P 500’s Bull Market Rally
The S&P 500 entering a bull market has left Wall Street’s top strategists split on the way forward.
UK Communications Regulator Ofcom Says Hackers Stole Confidential Data
The hackers responsible for the MOVEit cyberattack downloaded confidential information from UK communications regulator Ofcom about companies it regulates, as well as its own employees — adding to a string of victims which includes IAG SA’s British Airways and the British Broadcasting Corporation.
