Imprisoned Billionaire’s Wealth Soars on 919% EV Stock Rally
There’s little that can dent the world’s top performing stock this year, not even its founder being sent to prison for insider trading.
Bloomberg Business
Biden Expected to Travel to G-20 After Negative Covid Tests
President Joe Biden is “expecting to travel” to New Delhi on Thursday to participate in the G-20 summit after the White House said that he continues to test negative for Covid-19.
Oaktree’s Howard Marks Expects More Companies to Default on Debt
Oaktree Capital Management co-founder Howard Marks said he expects more companies to default on their debt as higher interest rates make it harder for struggling companies to raise capital.
Pentagon Pledges Thousands of US Drones to Counter China
The Pentagon plans to field thousands of air, sea and possibly land-based drones in 2025 in an overwhelming display of US might intended to offset China’s numeric superiority in weapons systems, according to Deputy Defense Secretary Kathleen Hicks.
Microsoft Xbox Chief ‘Confident’ on Closing Activision Deal
Microsoft Corp. Xbox chief Phil Spencer said the software giant continues to work with UK regulators to sort out the remaining hurdles to its $69 billion purchase of Activision Blizzard Inc., and the company is confident it can get the deal over the line.
Bank of England’s Bailey Signals Rate Hikes May Be Near an End
Bank of England governor Andrew Bailey said UK interest rates are probably “near the top of the cycle” because a further “marked” drop in inflation is likely this year, a sign that the central bank may bring to an end its quickest tightening cycle in three decades.
Chicago Area Faces 30% Transit Cuts Without New Taxes, State Aid
The Chicago area could suffer bus and rail-service cuts of 30% or more if state lawmakers don’t find new sources of money to replace federal aid that’s drying up by 2026, a regional planning agency says.
AMLO Upgrades to Private Military Jet After Years of Flying Coach
Every powerful person has a limit for coach flights, even the famously austere Mexican President Andres Manuel Lopez Obrador.
Shelter Island Cafe Owner Accused of Abusing Foreign Workers
The owner of a popular cafe on Shelter Island, New York, was accused in a lawsuit of abusing employees who worked for her under a US summer visa program for foreign students.
US Risks Government Shutdown With Congress Short on Time for a Deal
The US risks a government shutdown early next month, with Congress short on time to reach a temporary spending deal and House conservatives vowing to disrupt negotiations unless their demands for cuts are met.
