Bloomberg Business

(Bloomberg) — Former Goldman Sachs Group Inc. banker Roger Ng won postponement of the start of his 10-year prison term for about three months until Aug. 7, a federal judge ruled.

Merck & Co. edged out competitors including AbbVie Inc. and Bristol Myers Squibb Co. to prevail in its $10.8 billion takeover of biotechnology company Prometheus Biosciences Inc, according to people familiar with the matter.

Wall Street’s worries about Corporate America’s dwindling profit margins appear to have made their way to the C-suite based on earnings reports so far this quarter.

The International Monetary Fund’s chief said the rapid acceleration in interest rates “exposed vulnerabilities in the financial sector,” adding that the banking industry needs to be on watch for additional risks.

Dying banks aren’t bad news to everybody. For some investors, they are a chance to make money.

Paraguay voters gave the conservative Colorado Party a third straight mandate to run the nation, defying a trend that booted out incumbent governments elsewhere in Latin America.

Snap Inc., the maker of the Snapchat app, has hired two former employees of Facebook parent Meta Platforms Inc. as part of a drive to expand its advertising business.

Lordstown Motors Corp. may be forced to cease operations and file for bankruptcy after manufacturing giant Foxconn told the electric-vehicle company that it’s prepared to pull out of a production partnership.