For US Companies, Europe Is Hard to Resist: Credit Weekly
Save
Companies are increasingly looking to Europe to raise money cheaply, a shift that is turning out to be a near-term positive for US corporate debt.
Verizon Communications Inc. this week sold €2 billion ($2.31 billion) of debt, its first deal in the European market since early 2024. Earlier in July, FedEx Corp. and PepsiCo Inc. both sold debt in the common currency, their first offerings there since 2021.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Switzerland could revise offer on Trump tariffs, business minister says
By John Revill ZURICH (Reuters) -The Swiss government is open to revising its offer to the United States in response to planned heavy tariffs, Business Minister Guy Parmelin said, as experts warned the 39% import duties announced by President Donald Trump could trigger a recession in Switzerland. Switzerland was left stunned on Friday after Trump hit the country with one of the highest tariffs in his global trade reset, with industry associations warning of tens of thousands of jobs being put at risk. The country's cabinet will hold a special meeting on Monday to discuss its next steps, with Parmelin telling broadcaster RTS that the government would move quickly before the U.S. tariffs are imposed on August 7. "We need to fully understand what happened, why the U.S. president made this decision. Once we have that on the table, we can decide how to proceed," Parmelin said. "The timeline is tight, it may be hard to achieve something by the 7th, but we'll do everything we can to show goodwill and revise our offer," he added. Parmelin said Trump was focused on the U.S. trade deficit with Switzerland, which stood at 38.5 billion Swiss francs ($48 billion) last year, with Switzerland buying U.S liquefied natural gas (LNG) among the options under consideration. Another option could be further investments by Swiss companies in the United States, Switzerland's biggest export market for its pharmaceuticals, watches and machinery. "Look at the European Union, they promised to buy LNG. Switzerland imports LNG too — maybe that's one path," Parmelin said. "Maybe more investments. But to be sure it's a strong enough basis for continuing talks, we have to fully understand what the U.S. expects." Both Parmelin and Swiss President Karin Keller-Sutter were also ready to travel to Washington to pursue talks if necessary, he added. Swiss officials rejected reports that the higher than expected tariffs were imposed after a bad-tempered telephone call between Keller-Sutter and Trump late on Thursday. "The call was not a success, there was not a good outcome for Switzerland," a government source told Reuters. "But there was not a quarrel. Trump made it clear from the very beginning that he had a completely different point of view, that 10% tariffs were not enough. "We are working hard to find a solution and are in contact with the American side," the source added. "We hope we can find a solution before August 7." Tariffs would have a huge impact on Switzerland's export-orientated economy and raised the risk of a recession, said Hans Gersbach, an economist at ETH, a university in Zurich. Swiss economic output would be reduced by 0.3% to 0.6% if the 39% tariff was imposed, a figure which could rise to above 0.7% if pharmaceuticals - which are currently not covered by the U.S. import duties - were included. Prolonged disruptions could shrink Swiss GDP by more 1%, Gersbach said. "There would be a risk of a recession," Gersbach said. Swiss shares are expected to be hit by the tariffs news when the stock market reopens on Monday after being closed during the Swiss National Day holiday on Friday. The tariffs could also see the Swiss National Bank cut interest rates in September, said Nomura. "We expect one more 25bp policy rate cut from the SNB in September, which would take the rate to -0.25%," the bank said. "A hit to growth from U.S. tariffs on exports would likely weaken economic growth and cause further deflation pressures, adding to the likelihood of easing to a negative policy rate." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Trump's former jobs data chief decries firing of successor
(Bloomberg) — President Donald Trump's firing of the chief labor statistician was criticized by her predecessor, who called it an unfounded move that will undermine confidence in a key data set on the US economy. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance 'This is damaging,' William Beach, whom Trump picked in his first term to head the Bureau of Labor Statistics, said on CNN's State of the Union on Sunday. Trump on Friday fired Erika McEntarfer hours after labor market data showed weak jobs growth based in part on steep downward revisions for May and June. The move by Trump, who claimed the latest monthly report was 'phony,' prompted an outcry from economists and lawmakers. 'I don't know that there's any grounds at all for this firing,' said Beach, whom McEntarfer replaced in January 2024. 'And it really hurts the statistical system. It undermines credibility in BLS.' Studies indicate that the agency's data is more accurate than 20 or 30 years ago, including any revisions of the initial data, Beach said. Even so, he said he'll trust future BLS data because people working for the agency are 'some of the most loyal Americans you can imagine,' making the bureau 'the finest statistical agency in the entire world.' Bank of America CEO Brian Moynihan, speaking Sunday on CBS's Face the Nation, urged the US government to improve its data collection to avoid revisions that engender distrust. 'We watch what consumers really do. We watch what businesses really do,' Moynihan said, while not addressing the politics of the firing. 'They can get this data, I think, other ways, and I think that's where the focus would be.' He noted the revision for May and June data, while not unusual, was one of the largest in seven years. 'That creates doubt around it,' he said. 'Let's spend some money. Let's bring the information together. Let's find where else in the government money is reported.' McEntarfer was confirmed by the Senate in a bipartisan 86-8 vote. Vice President JD Vance, then a senator, voted to approve her nomination. Kevin Hassett, Trump's chief economic adviser at the White House, alleged that the large jobs data revisions were poorly explained and were evidence enough for a 'fresh set of eyes' at BLS. He sought to contradict Beach's portrayal of the agency as politically neutral. 'The bottom line is that there were people involved in creating these numbers,' Hassett said on NBC's Meet the Press. Pressed on whether Trump would fire anyone offering data he disagreed with, Hassett, who heads the National Economic Council, disagreed. 'No, absolutely not,' he said. 'The president wants his own people there so that when we see the numbers, they're more transparent and more reliable.' How Podcast-Obsessed Tech Investors Made a New Media Industry Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Russia Builds a New Web Around Kremlin's Handpicked Super App Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts What's Really Behind Those Rosy GDP Numbers? ©2025 Bloomberg L.P. Sign in to access your portfolio
Entrepreneur
24 minutes ago
- Entrepreneur
Stop Duct-Taping Your Tech Stack Together: This All-in-One Tool Is Hundreds of Dollars Off
Sellful combines the best parts of 25+ SaaS tools and lets you take the credit. Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. If your agency's tech stack looks like a graveyard of subscriptions and browser tabs, you're not alone. CRMs, funnel builders, invoicing software, schedulers—it's a lot. And worse? None of it talks to each other. And then there's Sellful. This all-in-one, white-label business suite is designed specifically for entrepreneurs and agencies who are tired of duct-taping 15 apps together just to run a business. For just $349.97, you're getting lifetime access to a platform that would normally set you back nearly $1,500—and that's before the monthly SaaS costs you're already juggling. So what does it do? Almost everything, including websites, CRMs, email and SMS marketing, sales funnels, appointment schedulers, online courses, project management, POS, HR tools, and even AI-powered automation to tie it all together. There's also a full-blown ERP system with client portals, contract signing, chat, and ticketing—all white labeled, so it looks like your own custom software. For agencies, it's a no-brainer: Sellful lets you spin up client sites, automate invoicing, manage social posts, and even onboard new leads—all from one dashboard with your branding front and center. You get 10 sites/sub-accounts included, and each can have unlimited contacts, pages, products, and users. Whether you're running a digital agency, launching an online education brand, or juggling eCommerce projects, Sellful is your tech cofounder. No code. No monthly fees. Just clean design, powerful features, and serious time-saving potential. Own your brand, simplify your backend, and scale like a boss. Get lifetime access to Sellful for just $349.97 (MSRP: $1,497) for a limited time. Sellful – White Label Website Builder & Software: ERP Agency Plan (Lifetime) See Deal StackSocial prices subject to change.
