First Republic Goes From Wall Street Raider to Rescue Target
Just days ago, First Republic Bank boasted of another coup for its wealth-management business: poaching a six-person team from Morgan Stanley in Los Angeles.
Bloomberg Business
Lockdown Logic Rears Its Head in Stock Rally Running on Nerves
When banks started going belly up, positioning in bonds turned on a dime. Forget inflation. The country is spiraling toward a recession. Yields plunged, higher interest rates were priced out. And over in the stock market a celebration ensued.
Okta’s Newfound Financial Discipline Is Paying Off, CEO Says
Okta Inc. Chief Executive Officer Todd McKinnon said a new focus on efficiency is paying off for a company that long prioritized growth over profit.
Crypto ETP-Provider 21Shares to Close Funds as Demand Fades
Crypto exchange-traded products issuer 21Shares is closing down five funds and delisting another, a company spokesperson confirmed, as investor demand cooled for them.
Madison Square Garden Entertainment Settles Investor Lawsuit Over Merger
Madison Square Garden Entertainment directors have reached a tentative $85 million settlement of investors’ challenge to a 2021 deal that combined the owner of the NBA’s New York Knicks with the company that broadcasts the team’s games, according to a court filing.
Port Authority to Spend Extra $1 Billion on JFK Airport Project
The massive renovation to New York City’s John F. Kennedy International Airport has gotten even more expensive.
Air Force Sees First Flight Delay of B-21 Stealth Bomber
The first flight of Northrop Grumman Corp.’s B-21 Raider has slipped a few months even as the Air Force seeks congressional approval for increased procurement funding for the bomber, according to Air Force Secretary Frank Kendall and budget documents.
Executives Yank Money From Banks as Some Deposits Look Riskier
With Credit Suisse Group AG having wobbled this week and a handful of regional US banks collapsing, company executives are getting more concerned about where they can safely keep their cash.
Payment Software Maker ACI Worldwide Is in Talks With Buyout Firm Motive Partners
Motive Partners, the fintech-focused private equity firm, is in talks to buy payments-software provider ACI Worldwide Inc., according to people familiar with the matter.
Summers Gives Lagarde an A+, Urges Fed Rate Increase Next Week
Former Treasury Secretary Lawrence Summers praised European Central Bank President Christine Lagarde for raising interest rates by a half percentage point Thursday and said the Federal Reserve should follow with its own, smaller, move next week.
