Today’s Top Business News – The Los Angeles Tribune
- Polestar is nearing a deal to go public through a merger with a special-purpose acquisition company that would value the Swedish electric-vehicle maker at $21 billion.
- Markets this week will be focusing on U.S. consumer spending and inflation measures, and the heads of the Federal Reserve and the Treasury Department are set to speak about the economic recovery.
- Senior European Union officials including Margrethe Vestager will meet with U.S. Secretary of State Antony Blinken and Commerce Secretary Gina Raimondo to set an agenda for expanding the vast economic relationship between the two markets.
- If the federal government can’t pay all its bills because of a political standoff, options include some measures Jerome Powell has called loathsome.
- Chinese technology giants have seized on a new legal tactic to fight claims of intellectual property theft, raising concerns in the U.S. that Beijing’s promises to strictly enforce patent and copyright laws will be undermined by Chinese courts.
- An LBO boom fueled by easy money and a looming hike in the capital-gains tax is sweeping Wall Street deal making to highs not seen since before the 2008 financial crisis.
- Despite mounting shipping delays and cargo backlogs, the busiest U.S. port complex shuts its gates for hours on most days and remains closed on Sundays. Major ports in Asia and Europe have operated round-the-clock for years.
- Under the agreement, Ms. Meng admitted to some wrongdoing, securing an exit from Canada and her U.S. extradition fight; meanwhile, two Canadians detained in China were released.
- Israelis who have become millionaires in a red-hot tech market are transforming Tel Aviv, but the boom threatens to exacerbate cultural, religious and political fault lines.
- Sponsors say stablecoins are safe, but regulators are concerned about potential risks to financial stability.