Treasury Secretary Janet Yellen is warning U.S. business and financial leaders about the catastrophic impact of a U.S. default on its debt, according to sources. Meanwhile, an ABC/WaPo poll shows President Biden’s approval rating at a record low, with Trump and DeSantis beating him. In the corporate world, Purplebricks is unlikely to generate cash in FY24 amid a sale process, while Goldman Sachs will pay $215 million to settle a gender discrimination lawsuit. Oil prices fell ahead of US inflation data, and the American Chamber of Commerce in Shanghai expressed concerns about investigations into U.S. due diligence and consulting firms in China.

On a more positive note, Tesla broke ground on a Texas lithium refinery that should produce enough of the battery metal to build about 1 million electric vehicles (EVs) by 2025. UBS Group announced Credit Suisse CEO Ulrich Koerner will stay on after the takeover of its Swiss rival. Iveco Group will buy full ownership of its joint venture with U.S. start-up Nikola Corp, which develops battery electric and fuel cell heavy-duty trucks.

In other news, 4 million people have received temporary protection after fleeing Ukraine, and the International Organization for Migration reported that the number of people displaced by violence within Sudan has more than doubled in the past week to over 700,000 people. Meanwhile, former President of Brazil Lula criticized the “embarrassment” of Julian Assange’s incarceration to the UK press.

In the world of finance, Palantir Technologies rallied after giving a strong earnings forecast and saying that demand for its new artificial intelligence tool due this month is “without