Florida Braces for Storm, 3M Possible Settlement, and More
Source: Bloomberg, 5:57 #press
Fed Watchers Seek Clues, Raimondo in China: Sunday US Briefing
Something for your week. #press
Ukraine Says Second Ship Leaves Odesa Via Temporary Corridor
A Liberian-flagged bulk carrier left the port of Odesa and is sailing through the temporary Black Sea corridor, Ukraine’s infrastructure minister said. #press
3M Agrees to Pay More Than $5.5 Billion Over Military Earplugs
3M Co. has tentatively agreed to pay more than $5.5 billion to resolve over 300,000 lawsuits claiming it sold the US military defective combat earplugs, people familiar with the deal said. #press
Discounts Make a Comeback as Shoppers Get Picky About Spending
US shoppers are getting increasingly hesitant about shelling out for shoes, appliances and other nonessentials. That has more retailers and consumer-goods makers reaching for an old tool to pry open their wallets: promotions. #press
Markets Brace for Swings After High-Rates Mantra of Jackson Hole
Traders are girding for a volatile start to the week after US and European policymakers signaled interest rates will likely stay higher for longer during their annual confab at Jackson Hole. #press
Israel Government to Probe Police Use of NSO Group Spyware
Israel’s government established a commission to investigate whether police misused spyware in an inquiry that the attorney general warned could potentially obstruct the criminal case against Prime Minister Benjamin Netanyahu. #press
India Further Tightens Rice Shipments in Threat to Global Supply
India, the world’s biggest exporter of rice, imposed more curbs on shipments of the grain in a move that’s likely to further squeeze global supplies of the food staple. #press
Egypt Stocks Hit Record High as Investors Seek Inflation Offset
Egypt’s benchmark stock index hit a record high, spurred by investors looking to hedge against surging inflation driven by a series of currency devaluations and the fallout from Russia’s invasion of Ukraine. #press
Raimondo Seeks to Seize Moment With China Visit Focused on Business
US Commerce Secretary Gina Raimondo is in China this week with an aim to improve communication and promote healthy competition, as Washington seeks to expand business ties between the two largest economies even as government relations remain shaky. #press
Florida Braces for a Hurricane Forming in the Gulf of Mexico
Florida is bracing for a hurricane to strike as soon as Wednesday as a storm crossing the Gulf of Mexico builds, promising to bring flooding rain to Cuba, Mexico and the southeastern US. #press
Twitchy Traders Have S&P 500 Comebacks Fizzling at Historic Pace
Surprised that the S&P 500 swung into the green Friday? Don’t worry. Just wait. It’ll fall again after the next opening bell. #press
Women’s Tennis Is More Unpredictable — And Fun — Than Ever Going Into US Open
The retirement of Serena Williams has cleared the way for a new generation of players. #press
Apple Bets on Revamped iPad Pro to Reignite Sluggish Tablet Sales
Apple is working on a revamped iPad Pro for next year, aiming to shake up a tablet market that’s deep in the doldrums. Also: The Sept. 12 iPhone 15 and Apple Watch event approaches, and iOS 17 gets into shape. #press
Prigozhin Death Confirmed, Evergrande Posts Loss, and More
Source: Bloomberg, 5:45 #press
America’s China Hysteria Has Gone Too Far
Talking tough on Beijing is the easiest way to sound patriotic, especially in the midst of a presidential campaign. It’s easy to paint the communist superpower as the bad guy but the reality is China and the West are woven together so tightly that unraveling the economies would make everybody worse off.
A handful of Republican... #press
Emerging-Market Funding Gets Creative as Dollar Bonds Dry Up
At the BRICS summit in Johannesburg this week, a key item on the agenda was reducing dollar dependence across emerging markets. In bond sales, it’s already happening. #press
Crypto’s Latest Craze Friend.tech Is Overrun by Bots, ‘Speculative Games’
The new platform that allows users to buy and sell crypto tokens linked to influencers like Grayson Allen is starting to fizzle after a meteoric rise. #press
What’s Happening in EM: Dollar Bonds Dry Up (Podcast)
In this episode, Selcuk Gokoluk joins Carolina Wilson to discuss how emerging-market nations are getting creative with funding, seeking alternative borrowing routes as dollar bond sales dry up. #press
Why the US and Europe Still Buy Russian Nuclear Fuel
The US and its European allies moved fast to choke exports of Russian oil, natural gas and coal after Vladimir Putin ordered troops into Ukraine. When it comes to atomic energy, however, Kremlin-controlled Rosatom Corp. continues to be the dominant source of fuel for the world’s nuclear power stations —... #press
