At a meeting of the North Atlantic Treaty Organization in Brussels on Thursday, Ukrainian Foreign Minister Dmytro Kuleba underscored his country's need for a sustainable supply of arms to counter Russia's offensive in the eastern Donbas area.
Why Russia Doesn't Want to Default-Even in a Time of War
Behind the fight over whether Russia should be allowed to pay off its debts is an age-old issue: Borrowers, even in times of war, want to keep their reputations for making investors whole.
The U.S. Treasury Department this week blocked Russia from paying off a bond it had due on Monday by denying a sanctions waiver to JPMorgan Chase & Co. to process the transfer. The Treasury said U.S. banks would no longer be allowed to facilitate payments, but implied Russia could find other means, possibly using non-U.S. banks.
Yemen's President Cedes Power Amid International Efforts to End Civil War
RIYADH-Yemen's president handed over his powers to a leadership council on Thursday in a Saudi-backed move aimed at reviving negotiations with the Houthi rebels to end the country's seven-year civil war.
President Abed Rabbo Mansour Hadi also dismissed his vice president before leaving his own position. Both men were seen as obstacles by the Iran-allied Houthis and some of Saudi Arabia's coalition partners to United Nations-led efforts to find a diplomatic solution to the conflict, which the international body says has caused the world's worst humanitarian crisis.
Israel Shooting in Tel Aviv Leaves at Least Two Dead, the Fourth Attack in Recent Weeks
At least two people were killed and eight others injured after a gunman opened fire at pub goers in central Tel Aviv, in what appears to be Israel's fourth terrorist attack in a little over two weeks.
The attack occurred on the popular Dizengoff Street, where bars and cafes were packed at the start of the Israeli weekend, which begins on Thursday night.
GLOBAL NEWS
Chinese Tech Giants Lose Shine as Growth Stalls
Revenue growth is slowing at some of China's biggest technology companies, reducing one of the industry's key selling points for global investors.
After a sustained regulatory onslaught, the sector is confronting forceful antipandemic measures, which threaten to further damp consumer demand in the world's second-largest economy. The challenges are feeding into broader skepticism about Chinese stocks, since tech makes up a large chunk of the offshore market.
Biden Plan to Combat Inflation with U.S. Manufacturing Faces Skepticism
Economists and analysts are skeptical that a Biden administration push to increase domestic manufacturing will have the White House's intended effect of meaningfully taming inflation.
Administration officials have said that increasing domestic manufacturing would insulate the U.S. from the kinds of global supply disruptions that occurred during the Covid-19 pandemic and helped fuel inflation, which is at a 40-year high of near 8%, and is poised to see more upward pressure tied to Russia's war in Ukraine.
Fed's Bullard Leans Strongly Toward Big Rate Rises, Says Economy Can Take It
Federal Reserve Bank of St. Louis President James Bullard said Thursday that the central bank is behind in its mission to get an "exceptionally high" rate of inflation under control, and will likely have to raise rates fairly aggressively to get price pressures back under control.
"I do think we have to move forthrightly in order to get the policy rate up to the right level to deal with inflation that we've got in front of us," Mr. Bullard told reporters after a speech. "We want to do that in a way that doesn't cause too much disruption, but on the other hand, we do have a serious inflation issue and we have to move forthrightly to get inflation under control," he said.
As Bitcoin Market Expands, Demand for Regulatory Guidance Grows
MIAMI BEACH, Fla.-Increased regulatory guidance is crucial to the continuing growth of the cryptocurrency sector in the U.S., said panelists Thursday at one of the largest bitcoin conferences of the year.
But uncertainty about how the U.S. will write its cryptocurrency regulation remains one of the top barriers for both crypto firms looking to enter the U.S. market and for digital assets seeking to attract institutional investors, according to Compliance & Regulation panelists at the Bitcoin 2022 conference in Miami Beach, Fla.
Germany Faces Pressure to Bolster Response to Russian Aggression in Ukraine
BERLIN-Germany is coming under pressure from Western allies to beef up its response to Russia's aggression, accept stronger sanctions against Moscow and send more weapons to Ukraine.
The U.S. and its closest allies in Europe are concerned that after an initially robust response, Berlin's resolve in opposing Russia is seen as wavering because of economic concerns and skepticism that Ukraine can win the war. Some also think Berlin fears additional help for Ukraine and sanctions against Russia could undermine diplomatic efforts to end the conflict.
Appeals Court Reinstates Biden's Vaccine Mandate for Federal Workers
A federal appeals court on Thursday reinstated the Biden administration's Covid-19 vaccine requirement for federal employees, overturning a nationwide injunction by a Texas federal judge in January.
In a 2-1 ruling, the Fifth U.S. Circuit Court of Appeals in New Orleans held that it wasn't the judiciary's role to adjudicate the dispute but said unvaccinated workers seeking to avoid discipline first had to pursue their grievances through administrative channels.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
04-08-22 0619ET
