Bloomberg Business

(Bloomberg) — The average cost of gasoline in the US climbed more than 3 cents a gallon overnight in the biggest one-day percentage gain since June, according to auto club AAA.

(Bloomberg) — Peiter Zatko, the prominent computer security expert who blew the whistle last year on alleged security problems at Twitter Inc., is joining the cybersecurity firm Rapid7 Inc., the company said Wednesday. 

US manufacturing activity contracted for a second month in December, capping the steepest annual slide in the key factory gauge since 2008 and helping to further tame price pressures.

Pacific Investment Management Co. cut monthly payouts on nine municipal bond closed-end funds by as much as 45% after a sharp jump in short-term rates increased borrowing costs.

(Bloomberg) — Mexico’s Petroleos Mexicanos is evaluating debt payment options with the Finance Ministry as the company struggles to convert high oil prices into profits amid weak production and a focus on refining instead of exporting its crude. 

The Bank of Japan’s decision to double its 10-year yield ceiling was meant to improve market functioning. So far it’s triggered even heavier intervention from the central bank, threatening to reduce liquidity further in the local bond market.

Poland left borrowing costs unchanged as the threat of an economic recession overshadows concerns over the highest inflation in more than a quarter century.

Meta Platforms Inc. was hit with €390 million ($414 million) in fines by the European Union’s main privacy watchdog over the way users’ data is used for personalized ads on its Facebook and Instagram units, and given an ultimatum to bring its services in line with EU law.

Samsung Electronics Co. announced an upgraded version of its A-series budget smartphone at the CES conference in Las Vegas, adding an improved front-facing camera and slightly larger display.

UK Prime Minister Rishi Sunak pledged to reduce the national debt and cut inflation as he set out his priorities for the coming year against a backdrop of mounting strikes, a creaking National Health Service and dire poll ratings for his ruling Conservative Party.