Bloomberg Business

Western Alliance Bancorp pared earlier declines after saying deposits shrank less than some analysts had estimated and that money was flowing back into the bank.

A Los Angeles policy of awarding exclusive contracts to jail service providers is a benefit to the multibillion-dollar private equity firms that control the companies, but the costs are borne by prisoners who have no alternatives, according to a proposed class-action lawsuit.

Tiger Global Management’s hedge fund gained 7.3% in the first quarter as a rally in technology shares helped the firm begin to dig out from last year’s record losses.

Goldman Sachs Group Inc. was fined $3 million by the Financial Industry Regulatory Authority, or Finra, for mistakenly marking tens of millions of stock orders as long instead of short, according to the industry-backed regulator.

New York Mayor Eric Adams reached a labor deal with the city’s largest police union, granting annual raises for uniformed officers that will cost $5.5 billion.

South Africa’s government has withdrawn legislation intended to widen the number of species protected by more stringent laws and has also scrapped incoming laws pertaining to the management of elephants and hunting of leopards.

US Treasury yields declined further Wednesday — with the benchmark 10-year reaching its lowest level since mid-September — after a gauge of service-sector activity became the latest piece of data to suggest the US economy is headed for a downturn.

TotalEnergies SE Chief Executive Officer Patrick Pouyanne warned that Europe could lose out on projects that will produce synthetic fuel because the massive US climate spending package offers better incentives.

Tesla Inc.’s sprawling manufacturing hub in Austin, Texas, more than tripled its employee ranks last year, the company told county officials.

Puerto Rico, which emerged from a record bankruptcy last year, may face budget deficits as soon as fiscal 2028 as the commonwealth’s spending plan depends on uncertain federal Medicaid funding.