Oilfield services company NESR said a project targets annual production of 2,000 tonnes of battery-grade lithium carbonate; the contract could be worth up to about $200 million and run for up to five years.

Eurogroup has set Oct. 28 as the deadline for nominations for a successor to ECB executive board member Schnabel; a decision could be made as early as November.

WALLER said further rate hikes may be needed to return inflation to the Fed’s 2% target, but the pace can be flexible, leaving room to pause at the Fed’s October policy meeting. He said, "If economic data continue to come in as expected, I expect further hikes to help bring inflation back to 2% more quickly." He added hikes need not occur at consecutive meetings but should be completed within a reasonable timeframe. He did not quantify how much higher policy rates must rise to curb inflation still more than 1 percentage point above the Fed’s target. WALLER cited a stronger US economy, a lingering energy-price shock from the Iran war, and AI-driven demand for key goods and services as factors increasing the need for higher rates.