Intesa Sanpaolo SpA estimates that Italy’s tax on banks’ windfall profits will have an impact of less than €1 billion ($1.1 billion) on the firm, based on changes already approved by the government.
JPMorgan Chase & Co. identified to the federal government more than $1 billion in suspicious transactions linked to Jeffrey Epstein after the financier’s death, the US Virgin Islands has alleged in its lawsuit against the bank.
(Bloomberg) — Brazil’s economy expanded much more than expected in the second quarter, propelled by gains in services and industry despite the drag from double-digit interest rates.
The electric vehicle price war in China is getting even uglier as top players like Tesla Inc. launch new models and others aggressively cut prices in a bid to stem slowing growth in the world’s biggest auto market.
China intensified efforts to stimulate the economy and support its currency, as investor concerns over the growth outlook persist.
The Bank of England’s chief economist compared last year’s UK market crisis caused by former Prime Minister Liz Truss to being by a river of crocodiles.
The UK economy appears to have pulled ahead of Germany’s in its recovery from the Covid-19 pandemic, with updated figures suggesting gross domestic product rose more quickly than thought.
Federal Reserve Bank of Atlanta President Raphael Bostic said the US economy faces a period of some disruption as debts are refinanced at significantly higher interest rates, putting some pressure on both financial institutions and the government.
The US envoy to the European Union dismissed concerns over the pace of Ukraine’s counteroffensive against Russia, recalling the challenge the US and its allies faced in World War II.
PricewaterhouseCoopers Australia will cut partner pay by 30% next year following the tax document leaking scandal that wiped out profit for 2023.
