Bloomberg Business

The European Central Bank hasn’t defeated inflation and probably needs to raise interest rates again in September, according to Governing Council member Robert Holzmann.

The Gulf of Mexico has been a hub for US oil production for decades. A government auction Tuesday could help make it a nexus for offshore wind, too.

Air-traffic control services in the UK sought to restore normal operations after an hours-long system outage led to massive delays and cancellations on one of the busiest days this travel season.

The US Securities and Exchange Commission is probing The Change Company, a California lender that pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter.

A rally in emerging markets faded as doubts over China’s commitment to revive its faltering economy and confusion over the US Federal Reserve’s next steps kept sentiment in check.

Spot gold reversed a four-week slide last week, but the rally may not last. Meanwhile, global subsidies for fossil fuels have never been higher even as the climate crisis wreaks havoc around the world.

Saudi Arabia’s total spending on fuel subsidies soared over the past two years, hitting the highest among the Group of 20 economies on a per capita basis.

Standard Chartered Plc agreed to sell its aviation finance business to a unit of Saudi Arabia’s sovereign wealth fund for $3.6 billion and inked a separate deal to offload a portfolio of loans as part of efforts to boost returns.

Oil rose alongside equities as thin summer trading left the commodity to follow broader markets.