Market sources said autonomous driving company Waymo has upsized a private debt transaction to $5 billion.

VON DER LEYEN said the EU will launch a strategic dialogue with European refineries and strengthen joint energy procurement to tackle rising energy costs and reduce reliance on imported fossil fuels. Since late February European gas is up about 140% and diesel has doubled, adding roughly €100bn to fossil-fuel import bills; with winter approaching pressure on firms and households could intensify. The refinery dialogue is intended to lower costs and secure supplies, including for defence needs; the EU will also set up a working group to aggregate member-state energy demand and upgrade joint purchasing mechanisms.

Bank of Japan policy board member Sato said oil price increases driven by the Middle East conflict have slightly skewed the inflation outlook to the upside.