South African Minister Heads to China to Resolve Rail Impasse
South African Public Enterprises Minister Pravin Gordhan will travel to China in April to discuss an impasse that’s blocked the delivery of locomotives and spare parts.
Bloomberg Business
Splitting Up an Empire: Here Are Alibaba’s Six Main Businesses
Alibaba Group Holding Ltd. is splitting its $220 billion empire into six business units as part of a massive restructuring that will free up its various divisions to operate with far greater autonomy.
Next Agrees to Buy Cath Kidston Out of Administration
Next Plc has agreed to buy fashion and homeware brand Cath Kidston after the chain collapsed into administration in another casualty of Britain’s cost-of-living crisis.
A Long-Term Deal to Raise the US Debt Ceiling Is Looking Unlikely
A long term deal to raise the debt ceiling is increasingly out of reach as Speaker Kevin McCarthy amps up Republican demands for deep spending cuts in exchange for their agreement to increase the US borrowing limit and President Joe Biden refuses to negotiate.
Drax Investor Asks UK Biomass Firm to Drop Canada Forestry Permits
A major shareholder in Drax Group Plc is pushing the UK utility to drop some licenses to harvest trees for biomass in Canada.
Moelis Hires Team of Senior SVB Securities Technology Bankers
Moelis & Co. hired at least seven senior managing directors from SVB Securities, according to people with knowledge of the matter, marking one of the largest poachings of an investment-banking team in recent years.
A Single Bet on Deutsche Bank’s Credit Default Swaps Is Seen Behind Friday’s Rout
Regulators are singling out a trade on Deutsche Bank AG’s credit default swaps that they suspect fueled a global sell off on Friday.
SVB Saga Leaves Tech Companies Struggling to Get Leveraged Loans
Investors are growing more wary of lending to technology companies, fearing that the bout of volatility sparked by the global banking crisis could exacerbate stress in an industry already saturated with lower-rated debt.
Senator Presses Tesla, GM on Possible Links to Forced Labor in China
Senator Ron Wyden is pressing automakers including Tesla Inc. and General Motors Co. for more information about their supply chains amid concerns about forced labor in China.
Top Macron Ally Calls for Pause of Pension Reform Plan
Philippe Aghion, a French economist who’s advised Emmanuel Macron on his economic program, is joining a growing chorus calling for the president to hit the pause button on his pension reform in the face of rising anger on the streets.
