Bloomberg - Evening Briefing - A lack of interest

Interest rates are soaring on seemingly everything these days—that is, except the money you squirreled away in your bank account. When it comes to that nest egg, the needle has been somewhat slower to move. Meanwhile, banks have been scoring monster profits on the widening gap between what they charge borrowers and what they pay you. Not a new story by any stretch, but it’s attracting the ire of politicians from London to Seoul at a time when high inflation is stoking cost-of-living crises. While the backlash has yet to reach critical mass, there are signs political and regulatory pressure is starting to have an impact. —Natasha Solo-Lyons

The UK and European Union reached a new deal on Northern Ireland’s trading arrangements, aimed at ending years of often acrimonious wrangling and possibly paving the way for warmer relations more than half a decade after Britons voted for Brexit.

Ursula Von der Leyen, left, and Rishi Sunak meet in Windsor, UK, on Feb. 27. Photographer: Dati Bendo/European Commission

US pending home sales rose by the most since June 2020, possibly a temporary reprieve as lower mortgage rates helped prop up demand. The National Association of Realtors’ index of contract signings to purchase previously owned homes increased 8.1% in January from a month earlier, according to data released Monday. 

Goldman Sachs’s leaders take the stage this week hoping to turn the page on 2022, lay out new reasons for investors to rally around the firm’s stock and quell dissatisfaction within its ranks.

US stocks ended Monday with modest gains after fluctuating for the final stretch of the trading session. Here’s your markets wrap.

The electric Ford F-150 was pitched as a way to drive green. But an investigation by Bloomberg traced much of the aluminum in the truck to a refinery in the Amazon accused of sickening thousands of people.

Elon Musk (who just inserted himself into a fresh controversy over a cartoonist’s racist remarks) regained his spot as the world’s richest person, after briefly losing the title to France’s Bernard Arnault. Musk’s wealth has been buoyed by a nearly 70% surge in Tesla’s stock price this year. 

Tesla has temporarily stopped rolling out its $15,000 driver-assistance system until it addresses issues that led the carmaker to recall almost 363,000 vehicles. The pause affects customers who have opted in for Full Self-Driving Beta—a support feature for drivers who are responsible for operating their car at all times—but have not yet received a software update containing the feature.

A Tesla Model S equipped with Autopilot  Photographer: David Paul Morris

Bloomberg continues to track the global coronavirus pandemic. Click here for daily updates.

• Tesla owners stay loyal through Elon Musk’s many controversies.
• Higher interest rates slam stocks and profits—but spare workers.
• Thomas Lee’s firm is thrust into spotlight after founder’s death.
• Under Armour’s first female CEO begins quest to win back investors.
• Hurricanes moving farther north to pummel millions more homes in US.
• Bloomberg Opinion: What was Putin thinking?
• Bloomberg Opinion: For many homebuyers, it’s new or nothing.

  The African Safari Is Changing for the Better

  If you’re eyeing a luxury safari in Africa, expect to find a changing landscape in Tanzania, Kenya, South Africa, Zambia and Botswana. When high-spending foreigners vanished in 2020, safari lodges were left struggling. They were given time to rethink the kind of tourism Africa needs and how visitors can better support their goals. Travelers, at the same time, have redefined their safari priorities and lodges and tour operators are responding with a new crop of safari experiences. Before you book your bucket-list trip, here’s what to consider. 

  

  Source: Bloomberg

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