Biden Says There’s More Work to Do on Inflation as Data Stay Stubbornly High
President Joe Biden said there’s more work to do to tame US inflation, after the latest data showed monthly price growth accelerating in line with economists’ forecasts.
Bloomberg Business
Billionaire-Backed Ualá Launches ‘Star Product’ in Mexico
Argentina’s Ualá, the fintech company backed by George Soros, Steve Cohen and Tencent Holdings, will begin offering credit cards in Mexico through its alliance with ABC Capital.
One-Fifth of Vodafone Is Now Owned By Rivals Including Liberty
About one-fifth of Vodafone Group Plc is now owned by its rivals — with Liberty Global Plc taking a surprise 4.9% stake. The company’s growing roster of strategic shareholders is ratcheting up pressure to find ways to boost the value of the stock.
Barkin Says Fed May Extend Rate Hikes If Inflation Persists
Federal Reserve Bank of Richmond President Thomas Barkin said the central bank may need to raise interest rates to a higher level than previously anticipated should inflation keep running too fast for comfort.
Triton to Weigh Sale of Former VW Gearbox Maker Renk
Triton is exploring a sale or initial public offering of industrial machinery maker Renk AG, people familiar with the matter said.
Diamond Tycoon Jatin Mehta Fails to Halt Banks’ $1 Billion Chase Through UK Courts
Diamond and jewelry tycoon Jatin Mehta failed to halt a UK court case which aims to recover over $1 billion that he allegedly swindled from over a dozen banks.
Binance’s CEO Says Algo Stablecoins May Reemerge
Binance Chief Executive Officer Changpeng “CZ” Zhao said the cryptocurrency industry may move away from dollar-linked stablecoins and even revisit algorithmic equivalents in the wake of a US regulatory crackdown.
India Pressures China to Take Haircut on Loans to Poor Nations
China must stop taking positions that block debt relief to some of the world’s poorest nations and be willing to take losses on its loans to them, India said in its capacity as the current Group of 20 leader.
Shopify’s Early Job Cuts Fuel Rebound in Earnings, Stock Price
Shopify Inc. was among the first technology giants to slash its workforce during last year’s market rout. Now, some investors say its stock is poised to outperform peers over the course of 2023 as those job cuts translate into lower costs, narrower losses and better cash flow.
Israel Exports Oil for First Time With Cargo Heading to Europe
Israel exported oil for the first time, sending a shipment to Europe from Energean Plc’s offshore Karish field.
