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Reuters
Analysis-Rate rises pile pain on SME firms in U.S. and Europe
U.S. and European small and medium-sized (SME) firms may be next to feel the pain of rapid interest rate rises, with analysts and investors warily watching for the impact of tighter credit conditions exacerbated by recent banking turmoil. Unlike large companies that typically issue fixed-rate debt and have little exposure to short-term rate fluctuations, SMEs rely on direct bank funding, so the effect is felt in real time. "As liquidity drains, what seems like idiosyncratic little issues start to pop up," said Brett Lewthwaite, global head of fixed income at Macquarie Asset Management.
Reuters
New Zealand defence minister says military needs more resources amid growing challenges
New Zealand's military will require big investment as it faces new challenges and greater expectations from regional allies, the country’s new defence minister, Andrew Little, said Thursday. Little confirmed that the White House's Indo-Pacific coordinator, Kurt Campbell, this month had raised with him the possibility of New Zealand's becoming a non-nuclear partner of AUKUS. The United States is "certainly keen to have New Zealand engaged but it’s not a decision I get to take alone,” he said.
Cardinals Wire
Cardinals met with Pitt RB Israel Abanikanda
Abanikanda had a great pro day, running the 40 in 4.34 seconds. He rushed for more than 1,400 yards last season for Pitt.
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