US Labor Market Sends Mixed Signals, Giving Fed Reason to Pause
The US labor market sent conflicting signals in May as payrolls surged along with joblessness, giving Federal Reserve officials more reason to pause interest-rate hikes.
Bloomberg Business
Barclays CEO Addresses Dealmaker Exits in Virtual Town Hall
Barclays Plc’s chief executive officer told his investment bankers that he would continue to invest in the unit, as the lender looks to stem a slew of recent departures in New York.
Ukraine Urges EU to Stop Ban on Crop Exports to Neighbors
Ukraine called on the European Union to stop a ban on exports of its crops to several Eastern European neighbors, arguing that the restrictions are a boon for Russia.
Erdogan Picks Market Darling Simsek to Return as Turkey’s Finance Chief
Turkish President Recep Tayyip Erdogan will appoint Mehmet Simsek as his new treasury and finance minister, according to people with direct knowledge of the matter, bringing back an advocate of conventional economics to shore up market confidence after his re-election victory.
SBB Founder Steps Down as CEO of Troubled Swedish Landlord
Ilija Batljan, the founder and dominant shareholder of embattled Swedish landlord SBB, stepped down as chief executive officer in a dramatic move that highlights the uphill battle he faces to save his $13 billion empire.
Australia’s Albanese Says US-China Conflict ‘Not Preordained’
Australia’s prime minister called for the US and China to work together to maintain peace in the Pacific, saying the region is not simply an “arena for the ambitions of others.”
Nigeria Forex Shortage Hurt Drug and Vaccine Supplies, Firm Says
GlaxoSmithKline Plc’s Nigerian unit, the second biggest manufacturer of drugs in the West African nation, is struggling to maintain supplies of its pharmaceutical and vaccine products due a shortage of dollars to import ingredients.
BofA Says AI Frenzy Drives Record Inflows Into Tech
The buzz around artificial intelligence has investors pouring a record amount of money into tech stocks, Bank of America Corp. says.
China Is Set to Extend EV Tax Incentives as Sales Growth Slows
China is poised to extend incentives for electric-vehicle purchases as part of broader efforts to shake off a sluggish post-pandemic period.
Macau ‘Surprised’ at Malaysian Anti-Graft Body’s Jho Low Claim
Macau’s security office said it was “very surprised and shocked” after Malaysia’s anti-graft body this week reportedly claimed the fugitive financier Low Taek Jho is hiding in the territory, continuing a years-long dispute over his whereabouts.
