US bank stocks declined after Moody’s Investors Service lowered its ratings for 10 small and midsize lenders and said it may downgrade major firms including U.S. Bancorp, Bank of New York Mellon Corp., State Street Corp., and Truist Financial Corp.
Olaplex Holdings Inc. shares sank after the haircare company cut its full-year sales guidance amid weak demand and increased competition.
Bayer AG Chief Executive Officer Bill Anderson said nothing is off the table as he reviews the company’s strategy and structure in his first months in the job in preparation for unveiling a new plan early next year.
Chinese electric carmaker Li Auto Inc. raised its revenue guidance and said it expects to deliver more than 100,000 vehicles in the third quarter after reporting better-than-expected quarterly results Tuesday.
Chile’s annual inflation eased broadly in line with forecasts in July, a month that ended with the central bank delivering a larger-than-expected interest rate cut and indicating more big reductions to come.
UBS Group AG is retaining 12 Credit Suisse bankers to help lead its global banking business in the Americas as it seeks to capitalize on its former rival’s US presence to expand.
Tesla Inc. has a long history of promoting talent from within. Outside hires don’t last for very long in the carmaker’s scrappy, hard-charging culture, and it takes a certain stamina to work for Elon Musk.
United Parcel Service Inc. lowered its full-year profit forecast and revealed plans to cut management jobs as the courier contends with shifting consumer habits and rising costs after a tentative labor agreement.
Billionaire Chris Rokos’s macro hedge fund posted a 3.7% gain in July, helping it to fully recover losses from earlier this year.
Coinbase Global Inc. is offering to buy back some of its outstanding junk bonds as the world’s largest cryptocurrency trades at $29,560, near its highest value of the year.
