Category: Business

U.S. bank stocks fell broadly on Monday on news of losses at some global investment banks after a fund’s default, even knocking down shares of domestic lenders generally removed from equity markets. The KBW Nasdaq Bank stock index fell as much as 3.4% before paring losses to 2% at mid-afternoon. Shares of big U.S. banks […]

The dollar gained and a gauge of global equities halted a slide on Monday as investors discounted any long-term impact from a hedge fund’s default that roiled banks after Nomura and Credit Suisse warned of billions of dollars in losses. Crude prices edged higher after a report that Russia would support stable oil output from […]

T-Mobile US Inc said on Monday it was winding down its live TV services and would instead offer YouTube TV and YouTube Premium under an expanded partnership with Alphabet Inc’s Google. The company said Live, Live + and Live Zone services would be shut down on April 29 and that it would give the first […]

Financial institutions Nomura and Credit Suisse faced billions of dollars in losses after a highly leveraged U.S. investment fund called Archegos Capital defaulted on margin calls, triggering a fire sale of stocks on Friday, a source familiar with the matter said. Here are some of the biggest failures among hedge funds that have rippled through […]

Archegos Capital Management, the private investment firm at the center of recent turmoil on Wall Street, said in a statement that “all plans are being discussed as Mr. Hwang and the team determine the best path forward.” “This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen […]

Billionaire investor William Ackman said on Monday that there was nothing to report yet on finding a target for his $4 billion blank-check investment vehicle. Ackman made headlines last year when he raised Pershing Square Tontine Holdings, making it the biggest blank check company ever. It now has between $5 billion and $7 billion of […]

Saudi Arabia has been pushing foreign firms to invest in the kingdom and set up regional headquarters in Riyadh. The government has told foreign companies that from 2024, they can only secure state contracts if they have local offices. It has also launched economic and social reforms under its Vision 2030 plan to attract investment. […]