Italian Banks Slump After Government Introduces Windfall Tax
Italy’s right-wing government shocked markets with an unexpected tax on banks’ windfall profits, wiping out around $10 billion from the market value of the country’s lenders.
Bloomberg Business
Novo Nordisk Nears LVMH as Europe’s Biggest Firm by Market Value
In the race to be the biggest company by market value in Europe, a new contender is challenging the reign of luxury-goods behemoth LVMH.
Poland to Hold Vote Oct. 15 as Ruling Party Fights to Stay
Polish President Andrzej Duda announced the nation will hold a general election on Oct. 15, officially kicking off campaigning as the nationalist Law & Justice party fights to hold onto power for an unprecedented third term.
International Flavors Drops 20% on Softening Consumer Demand
International Flavors and Fragrances Inc. posted its biggest drop since at least 1980 after slashing its full-year sales guidance as customers pull back on spending while working through their stashes of products instead of replenishing their pantries.
Top White House Labor Adviser to Depart With More Union Talks Ahead
President Joe Biden’s top labor policy adviser is stepping down, the White House announced Tuesday, leaving the administration without an experienced hand amid a series of contentious union negotiations.
Novogratz Says Some Institutions Are Coming Back to Crypto
Michael Novogratz said he sees signs of increased participation in cryptocurrency markets by more traditional institutional investors in the wake of the turmoil in the digital-asset world last year.
Miami Firm Gains as Wall Street Banks Drop Latin America Clients
As more US banks cut back wealth-management services for clients in Latin America, a Miami-based firm has been reaping the benefits.
Europe’s Rising Inflation-Risk Gauge Is a Headache for ECB
Market measures of inflation risk in Europe are testing record highs and posing a challenge to European Central Bank officials as they eye the end of their historic tightening cycle.
Palantir Slides as AI Hype Fails to Deliver Strong Sales Outlook
Palantir Technologies Inc., the software maker that has for years sold artificial intelligence-powered programs to governments, sank by the most in eight months after issuing a sales forecast that disappointed Wall Street.
Lilly Boosts Outlook as Weight-Loss Fervor Propels Growth
Eli Lilly & Co.’s shares shot up as sales of its promising weight-loss treatment blew past expectations and a new study raised the prospect that its drug could benefit heart disease as well.
