Billionaire Mark Cuban Draws NBA Ire Again for Tanking Dallas Mavericks
The NBA slapped the Dallas Mavericks with a $750,000 fine after determining the team was resting players in an effort to lose and keep its first-round draft pick.
Bloomberg Business
Crypto Investment Firm BlockTower Winds Down Its Market-Neutral Fund
Miami-based digital-asset investment firm BlockTower Capital wound down a “market-neutral” crypto fund that at one point oversaw more than $100 million with the goal of generating returns no matter which direction prices took.
Struggling UK High-Street Lender Everyday Loans to Swap Debt for Equity
Alcentra Ltd. is among creditors set to take a 20% equity stake in struggling UK subprime lender Non-Standard Finance Ltd. in exchange for forgiving some debt under the company’s proposed restructuring.
Democrats’ Iowa Caucus Chaos Prompts Republican Bill That Could Help Trump
Attempts by Iowa Democrats to fix their broken caucus system have set off a partisan squabble over election rules that could ultimately impact the closely watched Republican presidential contest next year — possibly to the benefit of former President Donald Trump.
Supreme Court’s Alito Temporarily Pauses Curbs on Abortion Pill
Justice Samuel Alito put a five-day hold on new court-imposed restrictions on a widely used abortion drug, giving the US Supreme Court more time to decide how to handle the Biden administration’s request for a longer delay.
Wells Fargo Warns of More Office-Market Stress On The Way
Wells Fargo & Co. warned about shakiness in the commercial real estate market and said it’s reviewing its more than $35 billion portfolio of office loans for ways to decrease risk.
PNC’s Trimmed Revenue Forecast Isn’t a Good Sign for Regional Banks
As the first major regional bank to report earnings following a crisis among smaller lenders, PNC Financial Services Group Inc. was always going to be closely watched for signs of spreading pain.
Glencore’s Nagle Says He’ll Meet Teck CEO ‘Anywhere’ to Talk Bid
Glencore Plc Chief Executive Officer Gary Nagle said he’s ready to meet Teck Resources Ltd.’s top executive “anywhere in the world” to discuss his company’s $23 billion takeover offer.
Putin Paves Way for New Call-Up as Ukraine Invasion Drags On
The Kremlin introduced harsh new penalties for people who evade military call-up, adding to fears that the government is planning another mass mobilization as the invasion of Ukraine drags into its second year.
Ripplewood Considers Bid for Orange’s Banking Arm
US-based investment firm Ripplewood Advisors LLC is considering a bid for the digital banking arm of Orange SA, people familiar with the talks said, as the French telecom carrier’s search for a partner reaches its final stage.
