Bloomberg Business

Volkswagen AG trimmed its profitability forecast for the year after earlier hedging losses were compounded by higher costs and supply-chain issues last quarter.

Bitcoin briefly topped $30,000 for the second time this week on growing expectations that another favorable court action raises the likelihood than an exchange-traded fund holding the cryptocurrency will finally be approved.

Federal Reserve Bank of Cleveland President Loretta Mester said the US central bank is close to wrapping up its aggressive tightening campaign, but signaled she still favors raising rates once more this year based on how the economy evolves.

Binance is no longer offering its Visa debit card in Europe, the latest retrenchment by the world’s largest cryptocurrency exchange.

Former Treasury Secretary Lawrence Summers said the Federal Reserve will at some point have to weigh in on the US government’s growing mountain of debt because of its implications for interest rates.

Blue Owl Capital Inc. is weighing an expansion into Europe through a potential acquisition of rival lender Hayfin Capital Management, according to a person with knowledge of the matter.

Convoy Inc., a Seattle-based trucking startup whose investors include Jeff Bezos and Bill Gates, is closing down its business after a four-month search for an acquirer failed, its founder and Chief Executive Officer Dan Lewis told employees in memo Thursday informing them, “Today is your last day at the company.”

The rooftop solar industry is facing struggles that will eat into profits as panel inventories pile up and demand from consumers slackens due to higher borrowing costs and other inflationary pressures.

For senior executives, the Great Resignation is just getting started.