Stocks Set for Weekly Gain as Traders Await Powell: Markets Wrap
U.S. futures and European stocks rose on Friday, extending a weekly gain ahead of Federal Reserve Chair Jerome Powell’s speech from Jackson Hole.
Bloomberg Business
Rupee Faces Risk of ‘Speculative Attacks’ on RBI Grip, ANZ Says
Indian central bank’s policy to keep the rupee stable at weaker levels may make the currency vulnerable to “speculative attacks” in case of large risk events, according to Australia & New Zealand Banking Group Ltd.
Spanish Football Chief Refuses to Quit Over World Cup Kiss
The head of Spain’s football association said he will not resign following widespread criticism over his behavior during celebrations of the country’s Women’s World Cup victory.
Quants Fail to Replicate Their US and China Success in India
Quantitative strategists are supposed to be good at figuring out winning formulas. But one puzzle they haven’t solved is how to succeed in India, one of the world’s top-performing major markets of the pandemic era.
Hawaiian Electric Falls After Halting Dividend, Drawing Credit
Hawaiian Electric Industries Inc. slumped after the company said it will draw down on credit lines and suspend its dividend to preserve cash in the wake of deadly wildfires on Maui.
Top Uranium Producer Wants to Shake Up Nuclear Decision Making
Since the height of the Cold War, the rules governing the safety and security of the global nuclear industry have been decided behind closed doors by a 35-member board that excludes some of the major players in the business. The world’s biggest uranium producer is trying to shake up the status quo.
Rolex Deal Trims Fortune of British Watch Boss by £10 Million
A record plunge for shares of Watches of Switzerland Group Plc on Friday spurred by a first foray by Rolex SA into consumer sales wiped £10 million ($12.6 million) off the fortune of Hugh Duffy, the retailer’s chief executive.
Poland Probes Deadly Disease Outbreak in Gateway City to Ukraine
Poland’s Internal Security Agency is probing whether an outbreak of the Legionnaires disease in Rzeszow may have been an act of sabotage given the city’s role as a hub for NATO supplies to Ukraine.
London Housing Feels the Pain of Britain’s Wobbling Economy
On a site in a deprived part of east London, the cracks in the UK economy are meeting the crisis at distressed developer Country Garden Holdings Co.
Soros-Backed Company Boosts Stake in Polish Newspaper Publisher
A company backed by George Soros’s fund will boost its ownership of a leading Polish newspaper publisher to a controlling stake as the country heads into a parliamentary election.