Banker ‘Lured’ by CIA Loses Fight Against Extradition to US
An ex-Austrian bank chief wanted in the US over his alleged role in a giant Brazilian corruption scandal lost a bid to halt his extradition from the UK.
Bloomberg Business
Canada’s Economy Is Proving Surprisingly Immune to Higher Interest Rates
Canada’s economy hasn’t buckled under the weight of higher borrowing costs. On the contrary: strong growth has more economists predicting the central bank will resume raising interest rates soon.
PayPal’s 80% Stock Plunge Hasn’t Soured Wall Street
For the majority of PayPal Holdings Inc. analysts, the only way is up. Trouble is, the stock keeps going down.
Spotify to Lay Off 2% of Workforce, Primarily in Podcast Groups
Spotify Technology SA will lay off 2% of its employees, or 200 people, primarily in its podcast division, the company said in a public blog post. Sahar Elhabashi, vice president, head of podcast business, made the announcement, saying the cuts would help the streaming service become an “optimal organization” for the next stage of its talk-content business.
Owner Stops Debt Payments on Two Large San Francisco Hotels
Park Hotels & Resorts Inc. has stopped making payments on a loan tied to the Hilton San Francisco Union Square and the Parc 55 San Francisco, two of the city’s largest hotels, dealing another blow to a downtown struggling with remote work and mounting public safety concerns.
S&P 500 Set to Enter Bull Market as Fed Fuels Dip-Buying Surge
The S&P 500 Index is heading toward a bull-market milestone after stocks rallied back from last year’s lows on optimism the Federal Reserve is nearing the finish line of its interest-rate hikes.
3M Granted Delay in ‘Forever Chemicals’ Trial to Negotiate Settlement
The judge overseeing 4,000 lawsuits involving 3M Co. “forever chemicals” agreed to delay the first trial for three weeks so the company can work out a settlement over pollution claims by water providers.
Turkey Sounds Out First Republic’s Ex-Exec Over Central Bank Job
A former co-chief executive officer of First Republic Bank met Turkey’s newly appointed finance minister, according to people with knowledge of the matter, after emerging as a potential candidate for the job of running the central bank.
‘Trump Too Small’ Trademark Fight Gets US Supreme Court Review
The US Supreme Court agreed to take up a free speech showdown over a man trying to get federal trademark protection for the phrase “Trump too small.”
Five Key Charts to Watch in Global Commodities This Week
Gasoline consumption in the US continues to increase as the summer driving season gets underway. Elsewhere, stockpiles of thermal coal at Chinese ports are on the rise, while surging copper inventories signal a softening market. Here are five charts to consider in global commodities this week.
