Czechs Warn Rates May Rise Further as Inflation Risks Persist
The Czech central bank warned it may have to raise borrowing costs if home-grown inflation risks escalate, calling investors’ bets on monetary easing “premature.” The koruna gained.
Bloomberg Business
Ukraine Latest: Zelenskiy Denies Russian Claim of Putin Attack
Ukrainian President Volodymyr Zelenskiy denied the Kremlin’s claim that drones from Kyiv attempted to strike Moscow or assassinate Vladimir Putin. Russia said earlier it has the right to respond after it downed two drones Tuesday night that it said were part of a “planned terrorist act.”
Future of Key German Refinery in Limbo as Pipeline Plans Stuck
Reviving a key German refinery that was cut off from Russian crude supplies this year will take even longer as plans for upgrading an essential pipeline are stalling.
Busted Banks Wipe Out $54 Billion of Stocks, Bonds During Turmoil
The collapses that claimed four US lenders this year have stuck investors with more than $54 billion of losses, after First Republic Bank’s demise added to the pile of nearly worthless securities and sent some peers into a new tailspin.
European Gas Prices Extend Slide as LNG Imports Swell to Record
European natural gas extended its decline, trading at a 21-month low amid record LNG imports and rising stockpiles.
Goldman Sachs Names Kim Posnett as Global Head of TMT
Goldman Sachs Group Inc. has named Kim Posnett global head of its technology, media and telecommunications investment banking group, according to a company memo.
EVs Are Cleaning Up California’s Air, But Mostly for the Affluent
Disadvantaged communities received just 7% of California’s EV incentives between 2010 and 2021, and saw substantially smaller reductions in particulate emissions.
US Gives a ‘Free Pass’ to India as Worry Over China Rivalry Deepens
The Biden administration has decided to remain publicly quiet on India’s democratic backsliding, according to senior US officials, as the US intensifies efforts to keep New Delhi on its side in the rivalry with China.
Bank Woes Made Small Businesses Worry, But Not Enough to Switch
About four in ten US small businesses said they were very or moderately concerned about the health of their bank last month, though very few actually changed banks or even reached out to them in the wake of the finance-industry turmoil in recent weeks.
Olive Garden Owner Darden Buys Ruth’s Chris Steakhouse for About $715 Million
Darden Restaurants Inc., the owner of Olive Garden, said it’s buying Ruth’s Hospitality Group Inc., an upscale steakhouse chain of 154 locations, for about $715 million.