Here's what we are reading this morning:
Russia Likely to Miss Interest Payment for First Time Since 1998 Crisis: The Russian state is set to fail to pay foreign bondholders a coupon due on a bond for the first time since 1998.
Sacklers to pay $6 bln to settle Purdue opioid lawsuits | Reuters: The Sackler family owners of Purdue Pharma LP reached a deal with nine state attorneys general to pay up to $6 billion in cash to resolve widespread litigation alleging that they fueled the U.S. opioid epidemic, bringing the OxyContin maker closer to exiting bankruptcy.
Bankrupt Texas Power Co-op Brazos Suspends Trial on $1.9 Billion Storm Bill: Texas’s biggest electric cooperative suspended a bankruptcy-court trial against the state’s grid operator and agreed to mediate their dispute over a roughly $1.9 billion bill for power purchased during last year’s extreme winter storm.
Remote Jobs Signal Blow to San Francisco in Slow Return to Office - Bloomberg: The tech hub is particularly vulnerable to a long-term shift to remote jobs
Belarus Sovereign Bonds Collapse Following U.S., EU Sanctions - WSJ: The sovereign bonds backed by Belarus have collapsed over the past week due to the nation’s entanglement with Russia, which is using Belarusian territory as a staging ground for its invasion of Ukraine.
RT America ceases productions and lays off most of its staff | CNN Business: RT America will cease productions and lay off most of its staff, according to a memo from T&R Productions, the production company behind the Russian state-funded network, which CNN obtained.