Even a ‘Mild’ US Recession Comes With Steep Price in Lost Jobs
Most Wall Street economists expect the US to fall into recession during the coming year. What does that mean for American workers?
Bloomberg Business
GM Finally Enters Electric Pickup Battle With $40,000 Silverado
General Motors Co. is finally pushing into the heart of the electric pickup market with its Chevrolet Silverado work truck starting production this month.
UK Lays Out £1 Billion Plan to Invest in Domestic Chip Sector
After the US and EU pledged tens of billions of dollars to bolster their semiconductor industries, the UK government has announced its own commitment: £1 billion ($1.24 billion).
Biden Pushes for Debt Ceiling Deal as G-7 Summit Begins
President Joe Biden will cut short his trip to the Group of seven summit in Japan as he urges his negotiators to keep pursuing a debt-limit deal. House Speaker Kevin McCarthy indicated that both sides may reach agreement as soon as this weekend to avoid a catastrophic US default. Annmarie Hordern reports on Bloomberg Television.
Online Luxury Retailer Farfetch Surges as Consumers Keep Splurging
Farfetch Ltd shares jumped as much as 21% in pre-market trading following financial results that beat Wall Street’s expectations, a sign that luxury retail could still be a port in the storm amid a slowdown in discretionary shopping.
Ukraine Leader Zelenskiy to Visit Hiroshima in Bid to Rally Aid
Ukrainian President Volodymyr Zelenskiy will travel to Hiroshima, Japan, to join the Group of Seven leaders in person, according to people familiar with the plans.
I Squared Capital Names Bhandari as CIO in Firmwide Shuffle
I Squared Capital, a $37 billion infrastructure investor, promoted Gautam Bhandari to global chief investment officer as part of a wider reorganization.
Barclays Hiring BCG for Strategy Review as Share Price Lags
Barclays Plc plans to hire Boston Consulting Group to carry out a strategy review of the lender’s operations, in a bid to help boost a longstanding weak share price.
Sunset at 1,400-Year-Old Shrine Is Backdrop for G-7 Family Photo
Group of Seven leaders found a brief patch of sunshine for their traditional family photo on Friday at a summit in the Japanese city of Hiroshima, but the mood at the meeting is somber as Russia’s invasion of Ukraine nears its sixteenth month.
JPMorgan Bets on Algo Expansion in World’s Largest Bond Market
JPMorgan Chase and Co. is expanding its algorithmic-trading offering to US Treasury investors, betting that computer-powered strategies can make further headway in the world’s most important bond market.
