Sweden’s largest pension fund, Alecta, is facing losses of almost $2 billion as a result of a failed investment strategy that made it one of the biggest shareholders in two collapsed US banks and another that’s been caught up in the crisis.
Signature Bank’s partial takeover by a competitor is notable for what it doesn’t include: $11 billion of loans against a class of New York City apartments whose values have tumbled in recent years.
Google has suspended PDD Holdings Inc.’s main Chinese shopping app Pinduoduo after discovering malware in unsanctioned versions of the software, dealing a blow to one of the country’s biggest online retailers.
HSBC Holdings Plc, the new owner of Silicon Valley Bank’s UK arm, will this week hold its first meetings with the collapsed US lender’s clients in the region, people with knowledge of the matter said.
UBS Group AG wants to cherry pick top dealmakers from Credit Suisse Group AG’s investment bank instead of supporting Michael Klein’s plan to build a new independent firm, according to people familiar with the discussions.
The failure of the Swiss bank leaves a hole in the debt-for-nature market that analysts said could one day exceed $800 billion.
Tencent Holdings Ltd.’s successful foray into short videos and a softening regulatory backdrop have fueled a $160 billion rally since October, the next leg of which will hinge on a crucial earnings release this week.
(Bloomberg) — Only one more NATO ally met the military alliance’s goal to spend at least 2% of GDP on defense last year, with a total of seven countries reaching the commitment despite new pledges following Russia’s invasion of Ukraine.
Former UK Prime Minister Boris Johnson denied allegations that he deliberately misled Parliament over rule-breaking parties during Covid lockdowns, publishing evidence ahead of a highly anticipated hearing that he insisted showed he acted “in good faith.”
A test vehicle unveiled by Chinese carmaker JAC has the battery world buzzing about sodium-ion cells.
