Bloomberg The surge in the dollar this month to its strongest levels in decades has won a tacit endorsement from Washington, offering little official restraint to the currency in a notable shift from past occasions. Congressional hearings with key policy makers including Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell have seen barely a mention of the greenback’s …

Bloomberg India’s central bank may be pivoting to the spot market from forwards in its attempts to shield the rupee from fresh record lows — in order to minimise the knock-on effects of its intervention strategy. Reserve Bank of India’s (RBI) foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its …

  Bloomberg Julius Baer Group Ltd said the worst of the market selloff may be over for the Swiss wealth manager after a first half that was one of the most difficult in decades. Clients have started to come back and will probably look for ways to make money again in the second half, CEO Philipp Rickenbacher said. First-half profit …

  Bloomberg Stocks and US equity futures reversed earlier declines on Monday as earnings expectations outweighed concerns about a possible recession. S&P 500 and Nasdaq 100 futures rose, while European stocks extended gains after their best week since May. China’s property shares pushed higher amid a report that officials plan a fund to support struggling developers. Treasury yields advanced and …

  Bloomberg Chinese property stocks and dollar bonds rallied on Monday, as a reported move by Beijing to establish a fund to support developers fuelled optimism about a turnaround for the struggling sector. A Bloomberg Intelligence index of the country’s real estate firms jumped 1.7%, the most in a week. China’s high-yield dollar notes, predominately issued by developers, rose at …

Bloomberg Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market’s outlook. West Texas Intermediate falls 1.7% to slip below $95 a barrel in a choppy session. Crude posted a weekly decline as broader markets swayed oil prices in sessions characterised by sharp swings and low liquidity. On July 22, …

Bloomberg Europe is again on edge about potential gas supply disruptions from Russia, even after the restart of the crucial Nord Stream pipeline following maintenance this week. A turbine that helps pump gas into the link is held up in transit in Germany after first being stranded in Canada due to sanctions. President Vladimir Putin has warned that shipments through …

  Bloomberg Indian steel giant Tata Steel Ltd may close sites including Port Talbot unless it receives $1.8 billion in support from the UK government, the Financial Times reported. Natarajan Chandrasekaran, Tata Group chairman, said the firm had been in talks with the government for two years over funding for Tata’s transition to greener steel production. “We should come to …

  Bloomberg Amazon.com Inc is done dabbling in healthcare. With its proposed $3.49 billion purchase of One Medical parent 1Life Healthcare Inc, the e-commerce giant is taking its biggest step yet into an industry that accounts for about one-fifth of the US economy. The deal will give Amazon relationships with hundreds of thousands of patients and their employers as well …

  Bloomberg Virgin Atlantic Airways Ltd is seeking 200 pilots to help operate its flying schedule starting next summer, even as the European air-transport industry remains in the grip of a staffing shortage. The UK carrier plans to hire first officers across both its Airbus SE and Boeing Co fleets, according to a statement. About 100 pilots will be needed …