US Ex-Im Bank unable to approve loans as charter lapses
Lapse may be temporary as Congress may consider re-authorising the institution next month
Washington
US exporters including Boeing Co and General Electric Co won't be able to obtain new financing for overseas deals from the US Export-Import Bank (Ex-Im) starting Wednesday.
The lapse in the charter may be temporary as Congress, which let the charter lapse last week, may consider re-authorising Ex-Im next month. The 81-year-old institution provides financing arrangements that help US companies compete for overseas sales.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China’s April car sales swing to contraction despite NEV milestone
UK exits recession with fastest growth in nearly three years
Europe’s rush for rate cuts shifts global market power away from US
China’s push for greener aluminium hit by erratic rains, power cuts
Saudi crown prince to visit Japan
JPMorgan says India index inclusion on track, clients ready