Bloomberg Business

A $500 million special-purpose acquisition company backed by Ares Management Corp. is the first jumbo blank check firm to emerge after more than a year of mostly tiny offerings.

The speed of disruption brought on by a worldwide rush into artificial intelligence was on full display this week, sending shares of education-technology company Chegg Inc. plunging, leading IBM to halt some hiring and prompting a chatbot ban at Samsung Electronics Co.

Just a day after Wall Street breathed a sigh of relief with the rescue of First Republic Bank, a selloff in US regional lenders fueled renewed anxiety over financial stability, sinking stocks across the board and spurring a flight to the safest corners of the market.

China’s big-spending shoppers are back, to the relief of the global luxury industry. But in a pandemic-era shift, they’re doing more of their spending at home, even with mainland borders open again — and the consequences for foreign destinations and brands once reliant on deep Chinese pockets could be dire.

Malaysia will likely extend a pause in rate increases on Wednesday, as slowing inflation gives it space to continue assessing the impact of last year’s monetary tightening amid weakening global demand.

Washington’s ability to avert a catastrophic US debt default risks coming down to as few as seven days in May, underscoring the enormous threat of the partisan impasse.

(Bloomberg) — Salesforce Inc. appointed a new head for Tableau as it works to better integrate the $15.7 billion acquisition into its suite of products.

Balaji Srinivasan, the former chief technology officer of Coinbase Global Inc., said he closed out what appeared to be a losing bet that Bitcoin would rise to $1 million within 90 days.

Go Airlines India Ltd. filed for insolvency protection, blaming failing Pratt & Whitney engines for grounding about half its fleet of Airbus aircraft at a time when demand for travel is soaring.

Icahn Enterprises LP’s steepest one-day plunge on record after Hindenburg Research disclosed a short call against the investment firm added to the list of big hits dealt by the short-seller that’s become a household name on Wall Street.