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Ex-Gunvor Manager Convicted of Bribery Over Oil Deals

(Bloomberg) -- A former manager at Gunvor Group was found guilty by a Swiss court of bribing public officials to secure oil contracts in Africa, a second win in less than a month for Swiss prosecutors cracking down on corruption in the commodity-trading industry. Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in D

Fed's Musalem flags risk of rising inflation expectations

(Reuters) -St. Louis Federal Reserve President Alberto Musalem on Thursday raised the twin risks of rising inflation expectations and a labor market that weakens alongside rising prices, in remarks that highlighted the potentially difficult choices facing the U.S. central bank. While many of his colleagues say they regard inflation expectations as anchored, Musalem said he was concerned recent data showed they may be rising - a development that might force the Fed onto a more restrictive path. "In the current environment, the stakes are higher than they would be if inflation was at or below target," Musalem said in a speech given before the Economic Club of New York.