Romaine Bostick breaks down the day’s top stories and trading action leading into the close.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more.
UBS Rejigs Wealth Leadership in Middle East After Credit Suisse Merger Closes
Germany Faces Opposition From Northern State to LNG Terminal
Fed Needs to Hike Rates a Bit More, Taylor Rule’s Creator Says
The US States Where Jobs Are Paying More
ECB’s Nagel Says Rates to Stay Restrictive for Extended Period
Midwest Drought Eases Its Grip on Some Corn-Growing Areas
Sweetgreen Shares Jump as Return-to-Office Traffic Spurs BofA Upgrade
Meta’s Threads App Draws Millions Seeking a Twitter Alternative
EU Is Pushing China to Narrow the Scope of Metal Export Controls
Zuckerberg’s First Tweet in 11 Years Is Playful Jibe at Musk
Musk Lauds China’s AI Prowess While Warning of Tech’s Dangers
Nine British Banks Sign Up to New AI Tool for Tackling Scams
US Considers Limits on Cloud Computing For China
Biden Agrees to Send Cluster Bombs to Ukraine Despite Concerns
DeSantis’s 2024 Run Brought in $20 Million in Second Quarter, Trailing Trump
CFA Level II Success Rate Jumps Above Historic Average to 52%
FTX Lawyer Who Made Problems Disappear Is Caught Up in Crypto Firm’s Fallout
Restaurants Are Adding Tiny Seats for Big Luxury Handbags
Zendaya’s New Tennis Movie Will Open the Venice Film Festival
Small Banks Don’t Like High Rates
Meta’s European Party Is Hanging by a Thread
Remnants of the Great Resignation Still Challenge the Fed
How Mobile Money Is Bringing Electricity to the World’s Poorest
A Pop-Up Concert Company Gives Bands a Place to Perform, and 70% of the Profit
The Air Jordan Drop So Hot It Blew Up an Alleged $85 Million Ponzi Scheme
Uber, DoorDash Sue NYC to Bar New Minimum Wage Rule for Food Delivery Workers
Gender Law More Than Doubles Women Lawmakers in Sierra Leone
Canada’s Record Wildfire Season Set to Worsen as Heat Builds
Truckmakers and California Reach Deal on Zero-Emission Big Rigs
NYC’s Gateway Tunnel Project Secures $6.9 Billion Federal Grant
As Downtowns Struggle, Businesses Learn to Love Bike Lanes
Norway’s Oil Capital Offers Free Public Transport to Locals
BlackRock’s Nearly Perfect ETF Track Record Spurs Hope of Bitcoin Fund
Wall Street Spots Blockchain Opportunities as Crypto Stumbles
Crypto Exchange Bitfinex Says $315,000 From 2016 Hack Recovered
Isabelle Lee and
Emily Graffeo
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Yields on US Treasuries climbed while stocks slipped as traders digested commentary from Federal Reserve officials’ last meeting.
The S&P 500 closed down 0.2% following the release of the minutes of the Fed’s June meeting which indicated hawkish leanings from some voting members. In late trading, Spirit Airlines Inc. advanced 2.6% after JetBlue Airways Corp. said it was scrapping plans for an alliance with American Airlines Group Inc. to focus instead on its pending merger with Spirit. JetBlue shares slid 1.5%.