Bank of England Calls for ‘Urgent and Robust’ LDI Regulation
The Bank of England has recommended the UK take swift regulatory action to strengthen the pensions market after recent bond market turmoil exposed shortcomings in its oversight.
Bloomberg Business
Obesity Drug Wegovy’s European Rollout Delayed After US Setbacks
Novo Nordisk A/S is delaying introduction of its Wegovy obesity treatment in Europe until next year to make sure it has enough supply after the US launch was marred by production bottlenecks and drug shortages.
Oil Edges Higher as China Signals Further Easing of Covid Rules
Oil rose for a second day on signs of further easing of China’s Covid-19 restrictions and as a key North American pipeline remained shut.
Buffett’s Berkshire Has Now Offloaded More Than 25% of BYD Stake
Berkshire Hathaway Inc. further trimmed its stake in Chinese electric vehicle maker BYD Co., according to a filing Tuesday, offloading 1.3 million Hong Kong-listed shares to take its holding below 15%. That means the investment house has now sold more than one-quarter of its position in five months.
German Investor Outlook Improves as Worst-Case Winter Averted
The investor outlook for Germany’s economy improved to its highest level since Russia’s invasion of Ukraine — the latest sign that concerns over a deep winter slump are receding.
EU Breaks Logjam on Ukraine Aid With Hungary Funding Deal
European Union countries reached a preliminary agreement to clear the way for Ukraine to receive crucial aid from the bloc after Hungary dropped its opposition.
US Sanctions Zimbabwe President Mnangagwa’s Son on Eve of US-Africa Summit
The US sanctioned Zimbabwean President Emmerson Mnangagwa’s son on the eve of a US-Africa summit, quashing expectations the meeting would be an opportunity to repair relations.
Fed’s Unemployment Estimates to Rise as Recession Warnings Pick Up
Federal Reserve officials are set to increase their 2023 unemployment projections for a third straight time amid warnings that their inflation-fighting campaign increasingly risks tipping the US economy into a recession.
LGBTQ Black Congressman Says US Same-Sex Marriage Law Isn’t Enough
Mondaire Jones spent much of his 35 years hiding his sexuality. As one of the first openly gay Black members of Congress he spent the past two years fighting for equality.
