Ukraine Aid From Russian Assets Is Moving Forward in G-7 Draft
Group of Seven finance ministers will lay the groundwork for using the profits from frozen Russia assets to help Ukraine, according a draft of the communique that they’re set to sign off on Saturday. #press
MoneyGram Misses Deadline on $398 Million Leveraged Loan Deal
MoneyGram International Inc. failed to convince lenders to slash its borrowing costs on a leveraged loan before a deadline Thursday, according to people with knowledge of the matter. #press
Japan to Take Appropriate Steps on Excessive FX Moves, Kanda Says
Japan’s top currency official Masato Kanda reiterates his stance to take appropriate steps against excessive currency moves. #press
Meloni Blames Sky-High Debt on Italy Instability in Reform Push
Giorgia Meloni linked Italy’s mammoth debt to its history of unstable governments, a preview of how she will argue in a future referendum for premiers such as herself to get a stronger mandate. #press
Turkish Reserve Buildup Is Remedy for Lira With Bad Side Effects
Turkey’s central bank, once criticized for selling reserves to prop up the lira, is now trying to do the opposite to prevent the currency from gaining too much. #press
Royal Mail Owner Reports Loss After Welcoming Takeover Bid
The embattled owner of Britain’s Royal Mail reported another annual loss, days after welcoming a £3.5 billion ($4.5 billion) bid from Czech billionaire Daniel Kretinsky. #press
Uncorking Washington: Opening the French Ambassador's wine cellar
French Ambassador to the US Laurent Bili invites Bloomberg Television's Joe Mathieu inside to the wine cellar at his residence, for a conversation about how wine intersects with policy and culture in Washington. (Source: Bloomberg) #press
Investors Hedging Record Stocks Struggle as Options ‘Just Die’
In a bull market with no crashes, no sudden spikes in volatility and no lasting correction, cautious investors are struggling to find effective ways to hedge their positions. #press
Julius Baer Is Said to Weigh Potential Deal for Swiss Rival EFG
Julius Baer Group Ltd. is exploring a potential acquisition of rival Swiss private bank EFG International AG, people with knowledge of the matter said. #press
A Euro-Zone Inflation Hiccup Is Unlikely to Thwart ECB Rate Cut
A probable pickup in euro-zone inflation this month is unlikely to derail the juggernaut of an imminent interest-rate cut by the European Central Bank. #press
India’s Top Power Producer’s Profit Drops on Higher Tax Expense
India’s largest power producer NTPC Ltd.’s fourth-quarter profit dropped on account of a jump in tax expenses, even as electricity sales rose. #press
Nvidia Stock Split Looks to Be First of Many in Tech, BofA Says
Nvidia Corp. delighted investors when it announced a 10-for-1 stock split earlier this week. The move may be the start of a trend, as several prominent tech companies trade at prices high enough to tip the scales toward similar splits, according to a note from Bank of America. #press
Colombia Bonds, Peso Drop After Petro Threats Over Debt Ceiling
Colombia’s bonds and currency dropped after President Gustavo Petro threatened to “cease payments” if lawmakers refuse to approve an increase in the nation’s debt ceiling. #press
Nagel Says ECB Can Probably Cut Rates in June
Bundesbank President Joachim Nagel says if the European Central Bank cuts interest rates in June, as many expect, the next rate cut should not come until September. He speaks to Bloomberg’s Oliver Crook at the Group of Seven meeting in Stresa, northern Italy. #press
Gold Going Strong Even Without Lift From Key Group
Merk Investments founder, president and chief investment officer Axel Merk explains why gold continues to perform well in global markets and examines the broader trends related to investing in precious metals. Axel speaks with Tom Keene Damian Sassower on Bloomberg Radio.
Get more on the Bloomberg... #press
Nagel Says ECB Should Wait for September to Do Second Rate Cut
The European Central Bank should probably wait until September for any subsequent interest-rate cut after it begins reducing borrowing costs in June, Bundesbank President Joachim Nagel said. #press
Lilly to Invest $5.3 Billion for Weight-Loss Drug Supply
Eli Lilly & Co. will spend $5.3 billion to boost production of a key ingredient in its weight-loss and diabetes shots after the treatments’ explosive popularity led to shortages. Simone Foxman reports. #press
UAE Set to Hit Oil Capacity Target Year Earlier Than It Forecast
The United Arab Emirates is on course to achieve its full oil capacity target more than a year earlier than expected. #press
Fed’s Waller: Fiscal Spending May Pressure Neutral Rate
Federal Reserve Governor Christopher Waller warns that the “unsustainable fiscal path” of the US could put upward pressure on the neutral rate during a speech at the Reykjavik Economic Conference in Iceland. #press
Good News Becomes Bad News Again as Wall Street Weighs Rate-Hike Risk
Stocks face ‘fairly serious pullback’ if Fed needs to pivot, State Street’s Ferridge says #press
