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Bloomberg Russian authorities said they’d opened another criminal case against jailed opposition leader Alexey Navalny and his allies, this time alleging they created an illegal “extremist organisation.” If convicted, Navalny and his colleagues could face as much as a decade in prison. The probe is the latest in a rising tide of legal pressure prosecutors and investigators have put on ...

Bloomberg Top Pentagon officials will be pressed to explain whether they supported President Joe Biden’s withdrawal from Afghanistan and why the US didn’t foresee the Afghan military’s collapse to Taliban forces, forcing a hasty American withdrawal. Defense Secretary Lloyd Austin, General Mark Milley, chairman of the Joint Chiefs, and General Frank MacKenzie, head of US Central Command, are expected to ...

Bloomberg Brazil’s government plans to keep a cushion of at least 1 trillion reais ($190 billion) in cash next year to face local debt maturities as it braces for possible market turbulence in the run-up to presidential elections, according to Treasury Secretary Jeferson Bittencourt. The Treasury had a hard time in 2020, when investors concerned with President Jair Bolsonaro’s big ...

Bloomberg Federal Reserve Chair Jerome Powell said supply bottlenecks have been longer lasting than anticipated, and he expects inflation pressures to remain high in coming months before easing. “These effects have been larger and longer lasting than anticipated, but they will abate, and as they do, inflation is expected to drop back toward our longer-run 2% goal,” Powell said in ...

Bloomberg Private equity firm Vista Equity Partners is to acquire automation software developer Blue Prism Group Plc for about $1.5 billion, in yet another takeover of a UK tech company by a foreign buyer. Blue Prism recommended Vista’s bid of 1,125 pence a share in a statement on Tuesday. The offer represents a premium of about 35% to Blue Prism’s ...

Bloomberg The UK officially put the military on standby to help deliver supplies to gasoline stations in an effort to stem a crisis that’s engulfed Prime Minister Boris Johnson’s government. A “limited number” of army tanker drivers will be trained up in case they’re needed, the Department for Business, Energy and Industrial Strategy said. Non-military holders of specialized licenses that ...

Bloomberg The Spanish government has reached a deal with unions and trade groups to extend its furlough program until February 28 next year. The current job-saving scheme will be replaced in November with a new plan that gives employers more benefits if they provide training to workers, according a Labour Ministry statement. Meanwhile, the Bank of Spain expects inflation to ...

Bloomberg US household net worth surged to a fresh record in the second quarter as Americans enjoyed an ebullient stock market and largest-ever increase in value of their real estate holdings. Household net worth increased by $5.8 trillion, or 4.3%, to $141.7 trillion in the second quarter, a Federal Reserve report showed. The advance included a $3.5 trillion gain in ...

Bloomberg Indian bonds gained after the government refrained from adding to its near-record borrowing plan for the year, bringing some supply relief to the market battered by rising Treasury yields and oil prices. The administration will adhere to its plan to borrow 12.05 trillion rupees ($163 billion) in the year through March, the finance ministry said in a statement. The ...

Bloomberg Stocks and US index futures declined as investors reassessed valuations in the wake of a spike in Treasury yields. Oil headed for multiyear highs amid a global supply crunch. Contracts on the Nasdaq 100 Index plunged 1.4%, signaling the technology-heavy gauge may extend the losses. S&P 500 futures fall 0.8%. The five-year Treasury yield rises above 1.03% and the ...