Russia Agrees on Further OPEC+ Oil-Export Cuts, Novak Says
Russia has agreed with its OPEC+ partners on further cuts to its crude exports, Deputy Prime Minister Alexander Novak told President Vladimir Putin.
Bloomberg Business
Hi-Tech Fabrics Are Changing What Women Wear to Work
Activewear is the new office wear as athletic apparel companies redesign professional staples in casual materials.Â
Palantir Downgraded by Morgan Stanley on Overdone AI Optimism
Palantir Technologies Inc. was downgraded at Morgan Stanley, the latest indication of how Wall Street is skeptical of the software company, which has touted itself as a major player within artificial intelligence.
Driest August in Century Risks Worsening India’s Grain Curbs
India received the lowest August rains since at least 1901, raising concerns about weaker crop output and the potential for more export restrictions following the South Asian nation’s curbs on rice.
Polestar Posts $304 Million Loss Amid Delays, Competition
Polestar Automotive Holding posted another operating loss in the second quarter as the electric-vehicle maker struggled with software delays and intensifying competition.
Traders Are Bailing on the Euro as Talk of Stagflation Heats Up
Traders are abandoning the euro at pace as speculation grows the European Central Bank will struggle to tighten monetary policy further, even with inflation running far above target.
Country Garden Downgraded by Moody’s as Default Pressure Mounts
Moody’s Investors Service downgraded embattled Chinese developer Country Garden Holdings three notches to Ca, piling on more pressure on the distressed company whose liquidity crisis has shaken the nation’s financial markets.
South Africa Factory Inflation Rate Drops to Three-Year Low on Lower Fuel Costs
South African producer inflation slowed for the 12th consecutive month in July, driven by lower gasoline and other fuel prices.
CIBC Misses Estimates as Provisions for Souring Loans Surge
Canadian Imperial Bank of Commerce fell far short of analyst estimates as the lender set aside more than expected for souring loans.
Iceland Resumes Whaling After Temporary Animal-Welfare Ban Runs Out
Iceland will resume the hunting of fin whales after the island’s government decided against extending a ban imposed in June.