Wegovy, which was

The oil major has stepped up efforts to increase derivatives trading after several departures over the past two years, according to people familiar with the matter. Exxon is also reworking the pay structure for traders, including bonuses, said some of the people, who asked not to be named because the information isn’t public. The company is still ironing out specifics and nothing is final, the people said. 

The European Union’s new import rules requiring exporters to apply cold treatment to oranges heading to Europe have cost South African citrus exporters’ 200 million rand ($12 million), a lobby representing growers said.

The phytosanitary measures are meant to curb the spread of the false codling moth, a pest native to sub-Saharan Africa that feeds on fruits.

Supply cuts from a top Canadian producer are sending lumber prices on a rally even as rising interest rates put a chill on housing markets. 

Lumber futures rose for the third straight session Wednesday to $601.80 per 1,000 board feet on the Chicago Mercantile Exchange. That’s the highest intraday price since July 22 and the longest rally since July 1. 

The financial institutions have been offering bids in the region of 20-25 kopecks on the ruble, according to people familiar with the matter, who declined to be identified because the information is private. In Moscow, the bonds trade at about 90% of face value, according to data from the Moscow exchange.

US Defense Secretary Lloyd Austin reinforced a pledge that Washington and its allies will continue supplying military aid to Ukraine to help it repel Russia’s invasion “for as long as it takes.”

Ukrainian President Volodymyr Zelenskiy earlier vowed to “liberate” Crimea as speculation swirled about the cause of a major fire at an air base on the peninsula annexed by Russia in 2014. “This Russian war against Ukraine and against all of free Europe began with Crimea and must end with Crimea -- its liberation,” Zelenskiy said.

Scientists fear the omicron shots coming this fall won’t be much better at keeping people from getting Covid-19 than what’s come before. That’s pushing drugmakers to start working on next-generation vaccines that don’t have to be updated that often, if at all.

Testing shows that omicron-specific vaccines under development at Moderna Inc. and the partnership of Pfizer Inc. and BioNTech SE will be “little or no better” than the currently available boosters, according to John Moore, a professor of microbiology and immunology at Weill Cornell Medical College. 

Daylight reveals that the A$19 million ($13 million) harborside home of

Evraz Plc, a steelmaker backed by sanctioned Russian billionaire Roman Abramovich, has put its North American business up for sale.

The London-based steelmaker is “soliciting proposals for the acquisition of its North American subsidiaries,” according to a

Former Treasury Secretary Lawrence Summers decried the stripping of a global corporate minimum tax from the Democrats’ recent tax-and-climate change bill, a move that he said threatens a historic international agreement.

“It’s very sad how much special-interest lobbyists were able to stop things that are clearly in the public interest,” Summers said Wednesday on Bloomberg Television’s “Wall Street Week” with David Westin. “I am pretty offended by what’s happened here” with regard to businesses fighting against tax provisions in the legislation, he said. 

Chile’s government is pressing on with talks and plans to speed up land restitutions as it pours money into parts of the south scarred by an increasingly violent conflict with indigenous communities, a government official said.

Determining the territory to be handed back is a hard task that requires long negotiations with local Mapuche groups, Social Development Minister

Georgia Democratic candidate for governor Stacey Abrams tested positive for Covid-19 on Wednesday, after she delivered a campaign speech on economic policy the previous evening.

Abrams, 48, has been vaccinated and received boosters and currently is in isolation at home with mild symptoms, according to her campaign.

The top-trending destination was Thailand’s capital Bangkok, followed by Osaka in Japan, with flight searches jumping tenfold for both from the previous seven-day average, Expedia said. Travel within Asia was the most popular -- strong demand was also seen for flights to Seoul, Phuket and Singapore. 

A new US law that includes about $52 billion to boost domestic semiconductor production and research could unlock as much as $400 billion in investment, President Joe Biden’s commerce chief said. 

“Our goal is to maximize it,” Commerce Secretary Gina Raimondo said on Wednesday in an interview on Bloomberg Television. “It is an amount that we hope is enough to unlock two, three, $400 billion on behalf of private industry.”

What if the dangers of being heavy have been overstated, or misrepresented? This new episode of the podcast series “Losing It” explores the relationship between health and weight, and the argument that we focus on the scale too much and not enough on healthy behaviors.See omnystudio.com/listener for privacy information.

Chicago faces a $127.9 million budget deficit in fiscal 2023, a gap smaller than in the previous year given a rebounding economy and stronger-than-expected revenue picture.

The city is “starting on a true road to financial stability and recovery,” Mayor Lori Lightfoot said during a budget address on Wednesday, when she shared her preliminary deficit estimate for the next fiscal year. She called the budget gap “the lowest in recent memory.” 

Bank of England Chief Economist Huw Pill acknowledged that hiking interest rates to fight inflation will slow growth but argued that it’s necessary to stabilize the economy over the long term.

“It’s very important that we use monetary policy to prevent that high level of inflation from getting ingrained,” Pill said in a web Q&A with members of the public Wednesday. “In the short term higher interest rates means higher mortgage payments. It probably also means some slowing in the economy.”

Scientists say they have found the strongest evidence yet that the continents were formed by giant meteorite impacts that happened during the first billion years of Earth's four-and-a-half-billion-year history.

Researchers say the idea that the continents originally formed at sites of these collisions had been around for decades, but until now there was little solid evidence to support the theory.

House Speaker Nancy Pelosi’s visit to Taiwan has made geopolitics with China “particularly complicated” as President Joe Biden weighs the future of tariffs on more than $300 billion in goods from the US rival, according to his commerce chief.

“Certainly, it has made it a little more challenging,” Gina Raimondo said in an interview on Bloomberg Television’s “Balance of Power With David Westin” on Wednesday. “It’s harder, but I am hopeful that we will get beyond that and get back to a place where we can have more of those discussions.”  

Wisconsin Republicans nominated for governor Tim Michels, who still questions the results of the 2020 election and won’t say whether he will certify the 2024 presidential election, adding to the number of key battleground states where election results are at risk of interference.

Governor nominees in Arizona, Pennsylvania and Michigan as well as secretary of state nominees in Arizona, Nevada and Michigan have said the 2020 election was either stolen or rife with fraud, echoing baseless allegations made by former President Donald Trump.