High Interest Rates Delay Paraguay $3 Billion Wood-Pulp Mill
High global borrowing costs are postponing construction of the $3 billion mill at the center of a massive wood-pulp project in Paraguay.
Bloomberg Business
New York Cements Its Status as the Global Hub for Gold Equities
The momentum has been building for years, but this week made it official: the epicenter of the gold mining industry now lies firmly in New York.
Recession? Corporate America’s Earnings Say It’s Already Arrived
As the US economy teeters on the brink of recession, Wall Street is already enduring what could turn out to be the most prolonged corporate profits downturn in seven years.
Why Tesla Keeps Changing Its Prices
The maker of the Model 3 and Model Y has a floating-price strategy unique among car companies. It’s being put to the test by rising interest rates and reduced demand.
Starmer Says Reform Plan Is Blair’s Labour ‘on Steroids’
(Bloomberg) — Keir Starmer said his his mission to reform the UK Labour Party is an “on steroids” version of Tony Blair’s rebrand of the opposition in the 1990s.
UK’s Hunt Plans Fast Access to Deposits in Cases of Bank Failure
Chancellor of the Exchequer Jeremy Hunt said consumers and companies need to be able to access their money quickly in the event of a bank collapse, as the UK government seeks to learn from the failure of California’s Silicon Valley Bank.
Thai Opposition Poised to Dislodge Military Coalition, Pita Says
Thailand’s pro-democracy opposition parties have the momentum to dislodge a coalition of conservative parties headed by Prime Minister Prayuth Chan-Ocha, according to Pita Limjaroenrat, whose liberal Move Forward party has seen a late surge in support ahead of Sunday’s vote.
Charting the Global Economy: US Inflation Cools; BOE Hikes Rates
US inflation showed more signs of moderating in April, giving the Federal Reserve room to pause interest-rate increases soon.
Adani Group’s Flagship, Utility Firm Seek to Raise $2.6 Billion
Two companies in billionaire Gautam Adani’s empire, including his flagship firm, are seeking to raise as much as $2.6 billion, signaling the Indian conglomerate wants to focus on growth after a scathing short seller report forced it into damage control.
G-7 Finance Chiefs Boost Ukraine Aid, Propose Supply Chain Plan
Group of Seven finance chiefs put more aid on the table for Ukraine, set up a new supply chain initiative and vowed to fill regulatory gaps in the banking sector in a show of unity on global geo-economic issues ahead of next week’s summit in Hiroshima.
