Spending cuts expected in an eventual deal to raise the US debt limit could cost the country as many as 570,000 jobs, exacerbating the recession seen coming later this year, according to Bloomberg Economics.
The rally that’s added roughly $400 billion to Nvidia Corp.’s market value this year is about to be put to the test.
Mars Inc., one of the world’s largest chocolate makers, has tapped US executive Anton Vincent to lead the company’s global ice cream effort and turn the business into a $1 billion brand by 2030.
Germany’s request to buy 25 mothballed Swiss Leopard 2 tanks, intended to make up for stocks it’s sending to Ukraine, won the support of Switzerland’s government.
Airbnb Inc. is enacting an “anti-party crackdown” for the US summer holidays, extending measures aimed at retaining hosts after a pilot last year led to fewer reported parties over long weekends.
Delivery of Taiwan’s first new F-16 fighters built by Lockheed Martin Corp. has been delayed by problems deeper than the Covid-related supply chain issues cited previously, according to the US Air Force.
The rail line linking South Africa’s richest province to the continent’s biggest container port has virtually ground to a halt over the last two weeks because of power-cable theft.
Israel’s parliament passed a national two-year budget that includes billions of dollars in funding for West Bank settlements and religious programs, stabilizing Prime Minister Benjamin Netanyahu’s right-wing coalition. The shekel weakened as critics warned the plan would suppress rather than spur economic growth.
Blackstone Inc. Chief Executive Officer Steve Schwarzman said the investment giant is in talks with several US regional banks to explore purchases of assets and loans they originate.
European luxury goods makers came under pressure for a second day, extending a rout that’s wiped out about $60 billion in market value, in early signs of a turn in sentiment for a sector that’s been “priced for perfection.”
