Elon Musk said Saudi Arabia’s sovereign-wealth fund has approached him several times over nearly two years about providing financial support to take Tesla Inc. private, as the chief executive sought to explain his claim to have funding for a possible deal. Source: The Wall Street Journal
The United States and Germany reached an agreement on Wednesday on Russia’s Nord Stream 2 gas pipeline, ending a longstanding dispute between the allies, the Washington Post reported. Source Reuters
Turkish annual inflation has jumped to a two-year high of 17.53 percent in June, exceeding a forecast of 17 percent and continuing an extended rise after a brief dip, potentially delaying any interest rate cuts to later in the year. Source AL Jazeera
The federal government will be swimming in $3 trillion of red ink by the end of fiscal 2021, according to a Congressional Budget Office estimate released Thursday that swelled 33% from the last forecast.
As a result of multiple stimulus measures aimed at combating the pandemic’s economic impact, Congress will run a budgetary shortfall this year equivalent to 13.4% of GDP, the second-largest level since 1945 and exceeded only by the 2020 spending. Source CNBC
