Norway Wealth Fund Says Some Banks Caught Out on Rate Surge
The turmoil surrounding the collapse of Silicon Valley Bank showed that some banks weren’t ready for the rapid increase in interest rates, according to Norway’s sovereign wealth fund.
The turmoil surrounding the collapse of Silicon Valley Bank showed that some banks weren’t ready for the rapid increase in interest rates, according to Norway’s sovereign wealth fund.
Tesla Inc. has entered a new era: one in which Elon Musk keeps a different set of car executives up at night, while others rest a little easier.
Insurers Aviva Plc and Phoenix Group Holdings Plc have canceled their memberships of the Confederation of British Industry as the lobby group fights for survival following a number of allegations of sexual assault among its staff.
European Union lawmakers are set to back tough requirements for fossil fuel producers to rein in emissions of one of the most potent greenhouse gases.
JPMorgan Chase & Co. has hired Deutsche Bank AG’s global co-head of health-care investment banking.
The F-150 Lightning qualifies for $7,500 in tax credits available to buyers of EVs made in the US, but most break the incentive’s $80,000 price ceiling.
Only a few weeks ago, the Bank of England’s upcoming decision over whether to pivot to pausing its rapid interest-rate rises was seen as on a knife edge. Now markets and economists are in little doubt.
The UK’s Royal Mail said workers will get a 10% salary increase over several years as part of a final deal with the Communications Workers Union that draws a line under a year-long pay dispute.
UK tech tycoon Mike Lynch is set to be extradited to the US to face criminal charges over the sale of his Autonomy Corp. to Hewlett Packard after British courts closed the door on any future UK appeals.
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman talked about OPEC+ cooperation by phone, the Kremlin said.