The University of Pennsylvania stood by its president and chair of the board of trustees, rebuffing calls for their resignation by major donors including Apollo Global Management Inc.’s Marc Rowan, who accused them of tolerating antisemitism.
Sculptor Capital Management Inc. agreed to an increased bid of $676 million from suitor Rithm Capital Corp., the latest salvo in its fight with a consortium led by Boaz Weinstein to acquire the hedge fund firm.
Federal Reserve officials are grappling with a run-up in bond yields since they last met in September that could obviate the need for further interest-rate hikes — and also threatens to derail a soft landing.
Federal Reserve Bank of Boston President Susan Collins said that if the recent run-up in Treasury yields is sustained, it could lessen the need for further interest-rate increases from the central bank.
The US government bond market had its worst day since March 2020 by one measure, as hotter-than-expected September inflation data and weak demand for a bond auction fueled a surge in 30-year yields.
Chile’s finance minister played down the impact of one of the world’s worst currency routs on inflation, saying the short-term peso weakness is unlikely to divert the central bank’s plans to cut interest rates.
Americans are finally getting some relief from inflation after prices for key goods categories dropped last month.
Qualcomm Inc., the largest maker of chips that run smartphones, is reducing its workforce to cope with lackluster demand for its main product.
Oil fell after US crude stockpiles increased, providing a buffer against heightened geopolitical risks in Israel and Gaza.
Donald Trump is drawing criticism from the White House and Republican presidential rival Ron DeSantis over comments on the conflict in Israel days after the deadly attack by Hamas.
