1652: In remarks to WebFG UK, one financial industry veteran describes Wilbur Ross as 'balanced', explains he won't do anything foolish. On that note, economists at Oxford Economics are out with a note saying: "Our models indicate the odds of a recession this year range from 1% to 15%, changing little since last month and remaining well below critical thresholds. "Importantly though, the imposition of steel and aluminum tariffs and Gary Cohn's resignation as Trump's top economic adviser signal an increased risk of US trade protectionism, which could elicit international retaliation and increase the risk of an economic downturn.
Uber has confirmed that it is looking to secure a $1. 25bn (£900m) leveraged loan, less than a month after revealing that its losses ballooned to $4. 5bn last year. The ride-hailing company is thought to be contacting loan investors directly over the financing, which was first reported by Bloomberg, with Uber expected to meet with investors on Friday. – Telegraph.