BofA Names New Co-Heads for North America Industrials Banking
Bank of America Corp. named Loli Wu and Bill Young to lead the North America industrials investment-banking unit.
Bloomberg Business
Cargill Profit Drops 43% From Record High
Cargill Inc.’s annual profit nearly halved in its latest fiscal year amid rising costs, a declining meat business and lower agricultural prices from a fading commodities boom.
AST SpaceMobile Jumps on Step Toward Global 5G Service
AST SpaceMobile Inc. shares jumped after the company said it completed a 5G call between Hawaii and Spain using its satellite and a smartphone, claiming a first in the race to serve places where wireless networks don’t reach.
Canada Inflation Quickens to 4%, Driven by Higher Gas Prices
Canada’s rate of inflation accelerated by more than expected for the second straight month, but gains driven largely by higher gasoline prices likely won’t faze the Bank of Canada.
Pressure for Action Grows as South African Ports Firm Flails
Business lobby groups are piling pressure on South Africa’s government to act against the management of state ports and rail operator Transnet SOC Ltd. for failures they say are hobbling economic growth.
American Physician Partners Goes Bankrupt After Shuttering
Medical staffing company American Physician Partners LLC filed for bankruptcy protection to wind down its business after it ceased operations in July, citing economic headwinds brought by the pandemic and lost revenue from new regulation.
UK Financial Regulator Targets Simpler Rules to Boost Growth
The UK financial regulator should make its rules simpler under a new mandate to boost the country’s competitiveness, a senior official has said.
FTX Sues Sam Bankman-Fried’s Parents to Claw Back Funds
The managers of bankrupt crypto exchange FTX sued the parents of co-founder and former Chief Executive Officer Sam Bankman-Fried to “recover millions of dollars in fraudulently transferred and misappropriated funds.”
Several Top Traders Leave Gerald Group in Shakeup at Metals Firm
Several senior executives are leaving Gerald Group in a major shake-up at the historic metals trading house, according to people familiar with the matter.
Microsoft Eyes Apple’s Spot as World’s Largest Stock
Microsoft Corp. is narrowing the gap with Apple Inc. in the stock market as investors see better growth and far less China risk in the software giant.
