UAW Threatens to Strike More Plants Friday If No Progress
The United Auto Workers union plans to expand its strike against Detroit’s legacy automakers on Friday if there isn’t major progress in negotiations.
Bloomberg Business
Senate’s No. 2 Democrat Demands Menendez Quit, Adding to Resignation Pressure
New Jersey Senator Robert Menendez will address his Democratic colleagues on Thursday, one day after pleading not guilty Wednesday to federal corruption charges.
Emerging Currencies Slump, on Brink of Erasing 2023 Gains
Emerging market currencies are on the brink of wiping out all the gains accumulated in 2023 as concerns about China’s economy and US interest rates sour the mood with riskier assets.
EU Seeks to Boost Defense to Counter Russia, Rising Global Risks
The European Union will seek to boost its defense capabilities in response to a more hostile global environment as the bloc’s 27 governments start to define the political direction for the coming years.
Former Morgan Stanley FX Trader Shutters Hedge Fund in Brazil
A former Morgan Stanley currency trader, who left the Wall Street giant in 2021 following a contentious internal probe, is shuttering the Brazilian hedge fund he started after a series of wrongway bets dovetailed with surging interest rates.
Texas Will Welcome ‘Fed Up’ Chicago Firms, Greg Abbott Says
Texas Governor Greg Abbott has his eyes on Chicago.
New York City Tells Migrants ‘You Are Better Off’ Somewhere Else
(Bloomberg) — New York City is planning to distribute flyers to migrants in shelters and at the US southern border that say the city’s resources “have been exhausted” and they won’t get any help finding work, officials said Wednesday.
Ex-Bear Stearns Trader Who Aided Spoofing Probes Avoids Jail
A former Bear Stearns Cos. precious-metals trader avoided prison for attempted market manipulation after the judge credited him with helping US prosecutors in their crackdown on the widespread practice of spoofing at big banks.
Oil Jumps to One-Year High as Cushing Tanks Hit Critical Levels
Oil jumped to a fresh one-year high as crude stockpiles in the largest US storage hub dropped to the lowest since July 2022.
New Jersey Says NYC Congestion Pricing Suit Being Put in Slow Lane by Feds
New Jersey accused the US Department of Transportation of stalling its lawsuit challenging federal approval of New York City’s controversial congestion-pricing plan.
