The Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale of the lender to JPMorgan Chase & Co., according to two people familiar with the matter.
PacWest Bancorp ended the week with a bang, leading a rebound of US regional-banking stocks after a bruising week of losses, amid signals that some of the selling has been overdone.
Icahn Enterprises LP, under pressure from short seller Hindenburg Research, said it would pay a dividend of $2.00 per unit to investors, sending shares higher by the most since 2008.
French Finance Minister Bruno Le Maire pledged to accelerate the pace of debt reduction, a week after the country’s credit rating was cut.
Apple Inc. rallied Friday after an iPhone rebound helped quarterly earnings beat estimates, even as overall sales at the world’s most valuable company remain in decline.
Basketball great Shaquille O’Neal, rapper 50 Cent and TV producer Kenya Barris have joined the list of possible bidders for Paramount Global’s BET Media Group, the Wall Street Journal reported.
The Justice Department is investigating whether Binance Holdings Ltd. was used illegally to let Russians skirt US sanctions and move money through the world’s biggest cryptocurrency exchange, according to people familiar with the matter.
The chaotic week for financial markets ended with a rally in risk assets — possibly driven by short-covering — as regional banks rebounded from a brutal rout and solid jobs data tempered fears of a recession. Treasuries fell.
The extreme skepticism over regional bank stocks has gone so far that it prompted one of the few holdouts on Wall Street to turn bullish on a trio of the hardest-hit lenders.
The unexpected pickups in US hiring and wages last month increase chances the Federal Reserve will hold interest rates high for longer and potentially keep the door open to an 11th straight hike in June.
