A deal to avert a US government shutdown was agreed late last night but legislation promising trillions of dollars for infrastructure, the environment, healthcare and education remains mired amid political infighting between moderate and progressive Democrats. Senate majority leader Chuck Schumer said lawmakers had reached an agreement to avoid a government shutdown tomorrow by extending government spending until December 3.
Things appear to be getting worse, not better, along the global supply chain, which was upended by the coronavirus pandemic over a year ago. That means entire companies and industries are going to have to deal with more extremes for the foreseeable future. In an open letter to the United Nations General Assembly, business leaders from the International Chamber of Shipping, IATA and other transport groups sounded the alarm on the risks of the supply chain.
The private equity groups Blackstone, Carlyle and Hellman & Friedman are set to raise almost $15bn of debt on Thursday across bond and loan markets as they close in on financing the largest leveraged buyout since the 2008 financial crisis. The hefty debt issuance will go towards the buyout groups’ $34bn acquisition of a majority stake in family-owned Medline, one of the largest medical supply manufacturers in the US.