JPMorgan Chase & Co.’s Marko Kolanovic joined a chorus of Wall Street strategists Monday in warning that the US debt-ceiling impasse is yet another headwind threatening the outlook for equity markets.
California’s tax revenue could drop by $11 billion more than Governor Gavin Newsom projected in the event of an economic downturn, exacerbating deficit woes, the state’s nonpartisan budget adviser said.
Petroleos Mexicanos is in advanced talks to buy KKR & Co.’s Monterra Energy fuel-storage terminal in Tuxpan, Veracruz, in one of the latest blows to Mexican energy liberalization that ushered in a wave of foreign investment.
Oil steadied near $71 a barrel after four weeks of losses, though the US debt-ceiling negotiations injected a risk-off sentiment in broader markets that’s restraining crude’s relief rally.
South Africa downplayed reports that an army delegation is visiting Moscow for talks on enhancing military cooperation, days after a row erupted with the US over allegations that Pretoria supplied weapons to Russia.
Famed short-seller Michael Burry loaded up on regional banks during the first quarter, including First Republic before it was bought by JPMorgan Chase & Co.
Castlelake LP has agreed to buy up to $4 billion of consumer installment loans from fintech lender Upstart Holdings Inc., as private credit shops muscle into consumer lending.
Toronto-Dominion Bank is likely to find itself shut out of US retail-banking acquisitions for three to five years because of the same regulatory problems that doomed its attempt to buy First Horizon Corp., according to a Barclays Plc analyst.
Two Federal Reserve officials signaled they favored pausing interest-rate increases, while a third policymaker said the central bank’s task in subduing inflation was not complete.
A union representing auto workers said a plan by Stellantis NV to build a new battery plant in Canada is growing more “precarious” as negotiations between the company and Prime Minister Justin Trudeau’s government drag on.
