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The news comes less than two years after Salesforce bought Slack for $28 billion. He'll be succeed by longtime Salesforce cloud executive Lidiane Jones. Slack co-founder and CEO Stewart Butterfield is stepping down from Salesforce in January, just a week after co-CEO Bret Taylor announced his resignation. In corporate news, Tesla ( TSLA) shares sank more than 6% after Bloomberg reported that the company plans to cut production at its Shanghai factory, the latest sign of weak demand in China. On Sunday, OPEC+, or the Organization of the Petroleum Exporting Countries and its allies, including Russia, stayed the course on planned production cuts. The yield on the benchmark 10-year Treasury note Monday moved back up past 3.5%, while oil prices fell as new sanctions on Russian energy took effect, with WTI crude settling at $77.33 per barrel.

Meanwhile, another batch of third-quarter earnings figures will be out, finishing off the reporting season.

Investors and most economists anticipate two more quarter-point increases in the deposit rate, to a peak of 3.75%.ĮCB President Christine Lagarde reiterated Monday that rates will rise further to regain control of prices, saying there’s “no clear evidence” that underlying inflation has peaked.“It's fascinating that at the moment the market is focusing squarely on the very strong likelihood that we'll ratchet down to 'only' a 50bps hike next week and extrapolating that level of dovishness rather than focus on any risks that the terminal rate could end up being nearer say 6% than 5%,” Jim Reid and colleagues at Deutsche Bank wrote in an early morning note Monday. Governing Council member Boris Vujcic told Bloomberg this week that price risks remain skewed to the upside. With the ECB expected to raise rates next week, the survey will feed into the debate about how long borrowing costs must rise to ensure inflation returns to target. The European Commission’s own survey of inflation expectations for the coming year fell to the lowest since 2020. Inflation itself slowed to 6.1% in May, and an underlying measure stripping out volatile elements such as energy weakened more than expected to 5.3%. Indicators since then have proved more encouraging. March’s survey revealed a “significant” upswing in price expectations. The survey’s recent results show the choppy nature of the retreat in inflation, which hit a euro-era record last year. The yield on two-year securities fell as much as 8 basis points. German bonds extended gains after the release and traders pared bets for further interest-rate hikes, though another half-point of increases as early as September remains fully priced. For three years ahead, they slid to 2.5% from 2.9% - moving toward the 2% medium-term target.

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SEC’s Coinbase Lawsuit Heralds Deepening US Crypto CrackdownĪpple Headset Looks Sleek in Person But Battery Pack Stands OutĪpple’s $3,499 Vision Pro Headset Will Test Marketing MightĮxpectations for the next 12 months fell to 4.1% from 5% in March, the ECB said Tuesday in its monthly survey. PGA Tour Bows to Saudi Rival in Shock Combination With LIV Golf Ukraine Dam Blast Blamed on Russia Tips War Into New Phase

(Bloomberg) - Consumer expectations for euro-zone inflation eased significantly in April, adding to the case for the European Central Bank’s historic ramp-up in interest rates to conclude this summer.