Canada Bank Results Seen Hit by Expenses, Strained Consumers
After months of underperforming the broader market, Canada’s Big Six banks are likely to continue struggling as expenses and loan-loss provisions rise and consumer finances deteriorate.
Bloomberg Business
Juul Plans to Lay Off 250 Workers in Round of Job Cuts
Juul Labs Inc. plans to lay off 250 workers as the embattled vape maker faces fresh litigation and a trade complaint as it seeks new sources of cash.
‘Golden Age’ for Investing Is Over, Evercore’s Ralph Schlosstein Says
The aggressive monetary tightening launched by the Federal Reserve last year has brought an end to a “Golden age of investing’ that will force Wall Street traders to rethink how they allocate their portfolios, says Ralph Schlosstein, chairman emeritus at Evercore ISI.
NJ Cell-Therapy Plant Coming as Startup Raises $255 Million
Cell therapy contract manufacturer Cellares has raised $255 million from investors to build a high-tech plant in New Jersey, an important US hub for pharmaceutical-industry production and research.
IPO Market Will Need More Than Arm’s Listing to Bring It Back to Life
Arm Holdings Ltd.’s highly anticipated IPO has sparked hopes that the moribund market for new listings will spring back to life. Not so fast, says a cohort of Wall Street pros.
WeWork Taps Restructuring Advisers in Effort to Stave Off Bankruptcy
WeWork Inc. is rounding up advisers for help with a restructuring as it struggles with a heavy debt load and poor financial performance, according to people with knowledge of the matter.
US Grain Prices Rise on Heat Wave, Renewed Russian Attack
Grain prices rose in the US amid uncertainty created by a heat wave in America’s farm belt and another Russian attack on Ukraine’s crop terminals.
Nvidia Earnings Are High-Stakes Event for AI-Crazed Markets
Big Tech’s earnings season is wrapping up with a bang: Nvidia Corp., at the center of the artificial intelligence frenzy, is reporting results that could set the tone for global stock markets for the rest of the year.
Brazil Pitches Plan to Guarantee Exports to Argentina in Yuan
Brazil’s government has proposed a plan to Argentina that would use yuan to guarantee export payments in order to bypass its neighboring nation’s serious cash shortages and keep trade flowing, according to Finance Minister Fernando Haddad.
Apollo Sued Over $570 Million Payout Tied to Leon Black Departure
Apollo Global Management was sued by an investor seeking information about $570 million in payments the private equity firm made to founders Leon Black, Josh Harris and Marc Rowan after Black’s ouster over his ties to sex offender Jeffrey Epstein.