Obi Beats Nigeria’s Ruling Party to Win Lagos in Major Upset
In a big surprise, outsider candidate Peter Obi won Lagos state, beating the most powerful politician in Nigeria’s commercial center in the country’s hotly contested presidential election.
Bloomberg Business
TD Bank to Pay $1.2 Billion to End Suit Tied to Ponzi Scheme
Toronto-Dominion Bank said Monday it agreed to pay more than $1.2 billion to settle a lawsuit by investors claiming it aided R. Allen Stanford’s $7 billion Ponzi scheme more than a decade ago.
As Wall Street Chokes on Bad Buyout Loans, Rivals Seize Opening
For the titans of private credit, it’s a once-in-a-generation opportunity.
Stellantis to Cut Up to 2,000 Workers in Italy This Year
Stellantis NV is planning to cut as many as 2,000 jobs in Italy this year to further reduce its workforce in Fiat’s former home country as the transition to electric vehicles takes its toll.
Thiel’s Palantir Cuts Almost 2% of Staff to Reduce Costs
Palantir Technologies Inc., the data analysis firm co-founded by Peter Thiel, cut more than 70 jobs on Friday, or about 2% of staff, as it looks to reduce costs.
JPMorgan Says Prepare to Dump Value Stocks for Growth
Last year’s strong outperformance in cheaper, so-called value stocks over growth peers is likely to reverse soon as the economic recovery slows, say JPMorgan Chase & Co. strategists.
Turkey’s Sovereign Fund Allots at Least $1 Billion to Boost Stock-Market Heavyweights
Turkey’s sovereign wealth fund will channel cash into the nation’s main stock exchange via exchange-traded funds, in an open-ended attempt to keep the equities market from falling.
Rule-of-Law Criticism Is Holding Up NATO Expansion, Hungary Says
Hungary’s top diplomat accused Finland and Sweden of “spreading lies” about the erosion of democracy and said lawmakers in Budapest were justified in delaying approval of the Nordic nations’ NATO membership.
Snap Debuts ‘My AI’ Chatbot Powered By OpenAI’s GPT Technology
Snap Inc., maker of the photo-sharing app Snapchat, has released an AI-enabled chatbot, becoming the latest major tech company to roll out features powered by OpenAI’s GPT technology.
Chile Deploys Troops to Border as Backlash Over Immigration Grows
Chile’s government is deploying troops to its border with Peru and Bolivia to try and stem a rise in illegal immigration amid a mounting backlash against new arrivals.
