Destruction of Ukraine’s Kakhovka Dam Will Haunt the Environment
A large oil spill and widespread habitat loss are among the environmental impacts from the collapse of Ukraine’s Kakhovka dam
Bloomberg Business
California Insurers’ Inability to Price Risk Is Causing Headaches
State regulations eschew catastrophe models that would take climate change-fueled wildfire danger into account, experts say.
Reddit to Cut 5% of Staff, Trim Hiring Amid Restructuring
Reddit Inc. is cutting its workforce by about 5% and reducing its hiring plans, as the startup refocuses on future growth.
US Hasn’t Determined If Russia to Blame for Dam Destroyed in Ukraine
President Joe Biden said US assistance to Ukraine would continue after an explosion at a major dam in the south of the country flooded villages and threatened supplies of drinking water and electricity.
US Cash Pile Leaps by Most Since Tax Day After Debt-Limit Suspension
The amount of money the US government had to pay its bills jumped on Monday to the highest level in two weeks as the Treasury rebuilds its cash pile in the wake of the Washington’s debt-ceiling suspension.
Jamie Dimon Says US Is Pursuing the Right Strategy on China
Jamie Dimon said the Biden administration is pursuing the right strategy on China by focusing on national security and working with allies and the business community.
House Conservatives Block Gas Stove Bills in Debt-Deal Payback
Republican attempts to pass legislation to preemptively block future attempts to restrict gas stoves fizzled on Tuesday after a revolt by the party’s conservative members successfully blocked debate on a bill from even beginning.
Harvard’s Rogoff Sees 10-Year Yield North of 4% in Coming Years
Former International Monetary Fund chief economist Kenneth Rogoff sees interest rates heading higher in coming years, with the yield on the 10-year Treasury note averaging above 4% for the rest of the decade.
Oil’s Saudi-Driven Rally Erased by Persistent Demand Fears
Oil fell as persistent economic uncertainty weighs on the outlook for demand, erasing a short-lived surge that followed Saudi Arabia’s surprise pledge to cut more production.
Spirits Maker Bacardi Sells Bond to Refinance Debt After Jay-Z Cognac Fight
Spirits maker Bacardi Ltd. tapped the corporate bond market Tuesday to refinance a bridge loan used to boost its stake in a cognac brand once 50% owned by rapper Jay-Z.
