Fed’s Jefferson Says Credit Tightening Seen Is Typical for Cycle
Federal Reserve Governor Philip Jefferson said that credit availability has contracted as banks tighten lending standards but he was hopeful the economy would continue to grow.
Bloomberg Business
Debt Deal With Budget Cuts Threatens Growth, Morgan Stanley’s Shalett Says
Even if the US Congress and President Joe Biden reach a debt ceiling deal, if it involves cutting federal infrastructure spending, it could threaten economic growth, according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.
China Warns of ‘Strong’ Reaction If EU Sanctions Its Companies
China would react “strictly and strongly” to any penalties imposed on its companies by the European Union for supplying Russia with so-called dual-use goods that can be used for both military and civilian purposes, according to Foreign Minister Qin Gang.
Sri Lanka’s Creditors Hold Inaugural Debt Meet as China Observes
Sri Lanka’s bilateral creditors held an inaugural meeting on the South Asian nation’s debt restructuring, with China sitting in as an observer.
Commuters Ditched Public Transit for Work From Home. Now There’s a Crisis
The post-pandemic reality for America’s public transportation is bleak. Work from home has solidly set in, leaving transit agencies that rely on fare-box revenue facing a fiscal cliff.
Eskom’s Bonds Drop to Levels Before the State Bailout Earlier This Year
Eskom Holdings SOC Ltd.’s bonds tumbled to levels last seen before South Africa’s government announced billions of dollars in financial aid for the struggling state-owned company earlier this year.
Brazil’s Central Bank Calls for Patience as Lula Criticizes Rates
Brazil’s central bank called for patience on monetary policy, warning that the disinflation process will be more gradual in coming months as the government turns up pressure for lower interest rates to bolster the economy.
Ferrari Overtakes Fiat Owner as Value Climbs Past $50 Billion
Ferrari NV’s market value has surpassed that of Stellantis NV — the auto conglomerate that contains Fiat, which was once the parent of the iconic Italian luxury sports-car maker.
Chile Agrees to Lower Tax Hike for Copper Producers Ahead of Senate Vote
Chile’s government reached an agreement with opposition lawmakers on the main sticking point in a proposal to raise taxes on copper miners in the biggest-producing nation.
ECB Rate Increases May Not Be Finished in July, Kazaks Warns
Investors shouldn’t count on the European Central Bank’s unprecedented bout of interest-rate increases ending in July, as the majority of economists currently predicts, according to Governing Council member Martins Kazaks.
