Powell Targets High-or-Higher Rate Path as Economy Picks Up
Federal Reserve Chair Jerome Powell signaled interest rates will stay high and could rise even further should the economy and inflation fail to cool.
Bloomberg Business
Fed Latest: Bernstein Sees US Maintaining Pay Gains, Easing CPI
The chair of President Joe Biden’s Council of Economic Advisers, Jared Bernstein, said the US can maintain strong consumer spending, real wage gains, and a tight labor market while continuing to see inflation ease off.
Danaher Is in the Lead to Acquire Biotech Supplier Abcam
Danaher Corp. has emerged as the leading bidder for biotechnology supplier Abcam Plc, according to people familiar with the matter.
Pokémon Game That’s All About Sleep Hits 10 Million Downloads
Pokémon Go made billions of dollars getting people to roam the great outdoors. Now, the company behind the global game phenomenon is trying to get people to go to bed.
FTX, Genesis, BlockFi Customer Data At Risk in Bankruptcy Hack
Business and legal services provider Kroll said it’s cooperating with federal law enforcement after a hacker gained access to files that may have contained personal information for customers of bankrupt crypto platforms FTX, BlockFi Inc. and Genesis Global Holdco.
Databricks Is in Talks to Raise Funds at a $43 Billion Valuation
Databricks Inc., the closely held software maker widely viewed as a candidate to go public, is in discussions with T. Rowe Price about a new funding round that would value the company at $43 billion, two people familiar with the matter said.
3M Tried to Hide Payments for China Officials’ Vacation, Shopping Sprees, SEC Says
3M Co. will pay more than $6.5 million to settle Securities and Exchange Commission allegations that it tried to hide payments to send Chinese government officials on overseas vacations and shopping sprees.
Lagarde Steers Clear of ECB Debate Over September Rate Plan
President Christine Lagarde stayed out of the debate over whether the European Central Bank should lift interest rates for a 10th straight time next month — even as some of her hawkish colleagues are trying to nix talk of holding fire.
‘Handsome Guy,’ Biden Quips About Trump Mug Shot
President Joe Biden told reporters he saw the mug shot photo from former President Donald Trump’s arrest for felony charges in connection to his attempt to overturn the 2020 presidential election.
Autoworkers’ Possible Strike Against Big Three Concerns Biden, He Says
President Joe Biden said he was speaking to the United Auto Workers union, which is locked in contentious negotiations with three major automakers over a new contract, and expressed worries about a potential strike.
