Third Point LLC’s flagship fund underperformed the broader US market in the second quarter, gaining just 1.1% after holding “undersized” positions in the handful of tech behemoths that drove the S&P 500’s returns.
Ares Management Corp.’s chief executive officer said the banking crisis could play out for two more years, and that he expects opportunities to pick up more loan portfolios from struggling US regional banks.
A group of private credit lenders led by Blue Owl Capital Inc. and Sixth Street Partners has agreed to provide a $2.65 billion debt package to support Francisco Partners and TPG Inc.’s acquisition of New Relic Inc., according to people with knowledge of the matter.
GameStop Corp. said it’s ending its support for its cryptocurrency wallets, citing “regulatory uncertainty.”
Altria Group Inc.’s customers are increasingly lighting up discount cigarettes as an adjustment to cope with inflation.
Regulators in the US suspended the review of a joint venture between ultra low-cost carriers Allegiant Travel Co. and Mexican airline Grupo Viva Aerobus SA over concerns Mexico isn’t meeting the requirements of a transport agreement between the two nations.
Donald Trump is burning through money on legal fees so fast that it risks leaving him short of cash just when he will need it most — in a potential general election rematch against President Joe Biden next fall.
Uber Technologies Inc. is developing an artificial intelligence-powered chatbot to integrate into its app, joining the long list of companies that are turning to the language tool to improve customer service, marketing and other automated tasks.
Consumer-focused companies are outperforming this earnings season, defying Wall Street expectations and showcasing the resilience of American spending even as inflation bites into budgets.
Federal Reserve Bank of Chicago President Austan Goolsbee said that while recent data give him hope that inflation can cool without too much pain in the economy, he’d like to see more of a trend develop before the central bank stops raising interest rates.
