Bloomberg Business

Hedge funds and traders betting against bank stocks are filling a critical role, according to Odeon Capital Group’s Dick Bove.

Imperial Oil Ltd., Exxon Mobil Corp.’s Canadian unit, is at risk of being charged for toxic leaks at its Kearl oil-sands mine in Alberta after the country’s environment ministry opened an official investigation into the spills.

A rout in regional banks roiled markets, with anxiety about the next financial shoe to drop making traders boost their bets on Federal Reserve rate cuts. Apple Inc. rose in late hours after reporting earnings.

Carvana Co.’s shares surged after the debt-ridden automobile retailer said it expected to report a profit this quarter following a string of losses.

A bipartisan group of US senators introduced legislation that would allow President Joe Biden to sign a tax agreement with Taiwan, addressing an issue that businesses on both sides have pointed to as a barrier for further investment.

Cigarette smoking rates sank to their lowest US level in more than half a century, according to the latest government figures, although tobacco use remained high as consumers pivot to alternative products.

The French National Assembly adopted a text to prevent “dismantling” Electricite de France SA, despite opposition from Emmanuel Macron’s government.

Credit ratings on the world’s top technology companies are likely to withstand moving production away from China as Beijing-Washington tensions escalate, according to S&P Global Ratings.

Real estate stocks were the hot defensive play for investors on Thursday as regional banks continued their selloff a day after the Federal Reserve hinted at a potential pause in its interest rate-hike campaign.

When Coinbase Global Inc. became the first US crypto exchange to go public, the Nasdaq debut was seen as a sign the freewheeling industry was joining the financial mainstream with the blessing of US regulators.