Bridgewater Exits Ray Dalio Era With Hedge Fund Overhaul, Bets on AI and Job Cuts
Bridgewater Associates was bound to be different once billionaire founder Ray Dalio no longer commanded the world’s largest hedge fund. Very different, it turns out.
Bloomberg Business
Fed Officials Lean Into Higher Rates as Inflation Keeps Going
(Bloomberg) — Federal Reserve officials said interest rates will need to increase further and stay elevated into next year to curb US inflation that’s showing few signs of abating despite the central bank’s most aggressive monetary tightening in a generation.
Chinese Stocks Rebound After Terrible Month on Upbeat Data
Chinese markets rallied as unexpectedly strong manufacturing data suggested that the economic recovery is gathering pace, emboldening traders to pile in after weeks of heavy selling.
First Horizon Tumbles on TD’s Delayed $13.4 Billion Takeover
Toronto-Dominion Bank’s $13.4 billion acquisition of First Horizon Corp. may be delayed even more than the Canadian lender projected last month. Shares of the Memphis, Tennessee-based bank slumped.
UK’s Sunak Urged to Speed Up Covid-19 Probe After WhatsApp Leak
Prime Minister Rishi Sunak was urged to speed up an official Covid-19 inquiry, after a leak of WhatsApp messages from former Health Secretary Matt Hancock prompted renewed questions about government policy at the height of the pandemic.
US Manufacturing Shrinks at Slower Pace; Prices Gauge Jumps
(Bloomberg) — A gauge of manufacturing improved for the first time in six months, though activity remained in contraction territory amid fragile demand and growing inflationary pressures.
G-20 Latest: Blinken Has No Plan to Meet Russia, China Diplomats
Russia’s war in Ukraine is expected to dominate discussions at the Group of 20 foreign ministers’ meeting in New Delhi as the conflict enters its second year.
Arctic Geese Migrate to Far-Flung New Places as the Planet Warms
Birds that once nested in Norway have been tracked to a new breeding ground hundreds of miles away in Russia, a possible adaptation to climate change, scientists say.
Putin’s War Upended Consumer Economy in Ways Pandemic Didn’t
Navigating a wartime consumer economy is proving expensive and time consuming for Larisa Rudenko.
Chinese Cars Rise in Russia After Fury Drove Western Brands Out
Chinese car manufacturers are filling the void global automakers left by pulling out of Russia. So far, they’ve managed to avoid the backlash aimed at Western companies that tried to stay.
