Credit Suisse Retention Award Depends on 70% Jump in Stock Price
The worst bonus year for Credit Suisse Group AG bankers in more than a decade has them hanging their hopes on a 70% jump in the stock price.
Bloomberg Business
New ChatGPT Challenger Emerges With ‘Claude’
Anthropic, an artificial-intelligence startup, is making its rival chatbot to OpenAI’s popular ChatGPT available to businesses that want to add it to their products.
Tenacious US Inflation Reaches Past Housing and Proves Hard to Tame
Wall Street may be grappling with financial fallout from a new banking crisis, but the beast of persistent and elevated US inflation is proving tough to tame.
Amazon to Test Satellite Internet Service Starting Next Year
Amazon.com Inc. plans to launch its first Project Kuiper production satellites in 2024 and start beta testing its ambitious internet-from-space service with customers the same year.
Germany Secures Last-Minute Changes on Path to EU Fiscal Reform
Germany backed a set of joint conclusions among European Union finance ministers on an ongoing review of the bloc’s fiscal rules after it secured last-minute changes to guarantee a greater say for member states.
SVB’s Contagion Risk Is Bigger Than Banks
While all of the initial talk was about Silicon Valley Bank deposits and any potential impact for other banks around the globe, investors now have moved their attention to a much bigger potential contagion victim: the US economy.
United Slumps on Loss Forecast as Airlines Warn of High Costs
United Airlines Holdings Inc. tumbled the most in three months after warning that high labor costs will result in a surprise loss this quarter.
MSG Networks Executives Deleted Emails, Texts, Investors Say
MSG Networks Inc. shareholders asked a judge to punish the broadcaster for destroying emails and texts that could have helped them prevail in a lawsuit over its $900 million acquisition by James Dolan’s Madison Square Garden Entertainment Corp.
Bank Executives Lost $267 Million in SVB-Spurred Stock Swoon
The Biden administration has been adamant that the federal government’s sweeping emergency measures to shore up the banking system weren’t equivalent to a bailout.
Sunrun Has Access to $80 Million That Had Been With SVB, CEO Says
Sunrun Inc., the rooftop-solar installer that tumbled Friday amid concerns about exposure to Silicon Valley Bank, is now able to tap its funds at the failed lender and said it has no issues accessing capital.
