Central banks around the world have been rapidly raising interest rates this year in an effort to reduce the highest inflation in decades. In the U.S., the Federal Reserve is on track to lift interest rates by at least 0.75 percentage point at its meeting next week, while central banks in England, Canada and the European Union have all also raised rates recently.
For Shell's Priorities, Follow the Money
Shell's new chief has money to spend and the backing to move quickly. It is, as yet, unclear if the oil and gas giant's incoming leader will try to chart a different course from his predecessor.
The oil and gas giant announced on Thursday that Wael Sawan will become chief executive at the start of next year. A chemical engineer with a Harvard M.B.A., the 25-year Shell veteran has experience across the group's product areas and around the globe and currently heads up its catch all new-energy division, called integrated gas, renewables and energy solutions.
Justice Department Sues to Block $4.3 Billion Home Security Merger
The Justice Department on Thursday filed an antitrust lawsuit challenging a planned $4.3 billion deal in which leading lockmaker Assa Abloy AB is seeking to acquire a U.S. rival.
The civil lawsuit, filed in a federal court in the District of Columbia, seeks to block the Swedish company's planned acquisition of Spectrum Brands Holdings Inc.'s home improvement division.
Russia's Vladimir Putin Says China's Xi Jinping Raised Concerns on Ukraine War
Russian President Vladimir Putin said he sought to address Beijing's concerns Thursday about the Ukraine war in his first meeting with Chinese leader Xi Jinping since the start of the conflict, which has recently brought major battlefield setbacks for Moscow.
Mr. Putin told his Chinese counterpart that Moscow highly values what he called Beijing's balanced position regarding the Ukraine crisis. He added that the Kremlin would clarify its position on Ukraine, without explaining further.
Ukraine Battles Flooding After Russian Strike on Dam
Ukrainian authorities said Thursday that they staved off flooding caused by a Russian missile strike on the southern city of Kryviy Rih, as Moscow targeted the dam with new salvos and Ukrainian forces consolidated their positions in recently retaken areas.
Changing its strategy after stinging military defeats, Russia this week began a campaign of cruise-missile strikes on Ukraine's civilian infrastructure. Wednesday's initial attack on a dam in Kryviy Rih followed a strike on Monday that disabled the main power station in the country's second-largest city of Kharkiv, knocking out electricity in much of eastern Ukraine.
GLOBAL NEWS
China's Downturn Moderates, Though Property Woes Linger
HONG KONG-China's economy showed modest signs of improvement in August as stimulus measures kicked in, though renewed Covid-19 curbs and a worsening property downturn continue to damp the outlook for the world's second-largest economy.
A raft of data released Friday by Beijing offered a mixed picture: Infrastructure investment picked up more quickly than expected, but consumer spending remained weak and property prices accelerated their declines.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
09-16-22 0528ET
