Credit markets are opening flat, <-bsp-bb-link state="{"bbHref":"bbg://screens/CDX","_id":"0000018f-1a3a-d583-afbf-dafe26680000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">CDX levels show, following yesterday’s selloff as attention shifts to <-bsp-bb-link state="{"bbHref":"bbg://screens/ECO","_id":"0000018f-1a3a-d583-afbf-dafe26680002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">data seen as the Federal Reserve’s <-bsp-bb-link state="{"bbDocId":"SCJOT6T0AFB4","_id":"0000018f-1a3a-d583-afbf-dafe26680004","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">preferred measure of inflation.

Ofcom opened consultations seeking views on two applications relating to non-geostationary satellite system services from Inmarsat and SpaceX, according to a statement.

In the latest effort to devise a credible national currency, Zimbabwe has replaced its dollar with the ZiG, short for Zimbabwe Gold. The new unit is backed by bullion and foreign currency reserves held at the central bank. All told, the ZiG is the country’s sixth attempt at establishing its own currency since 2008, when inflation crossed 500 billion percent, according to International Monetary Fund estimates. Not only did that render it worthless, it turned the unit into a global punchline: US Treasury secretaries would sometimes carrythe notes around in their wallets as a reminder of the evils of hyper-inflation.

Paul Weiss has been stymied in its effort to open a Houston office, as top equity partners at rival firms spurned recruitment efforts.

Investment infrastructure company EIG’s MidOcean has hired Yujiro Oba as its new London-based senior vice president for LNG business development, according to Oba.

Latin American development bank CAF will lend Ecuador $800m for liquidity support, the nation’s finance ministry said in a statement sent by text message.