Corporate activist Carl Icahn’s fortune tumbled more than $10 billion Tuesday after short-seller Hindenburg Research accused him of using a “ponzi-like” economic structure at his investment company.
Morgan Stanley said it’s in talks with US prosecutors and regulators to resolve a probe into its block trading practices.
An artificial intelligence startup from LinkedIn co-founder Reid Hoffman and DeepMind co-founder Mustafa Suleyman is rolling out a chatbot intended to serve as a supportive personal companion that gives friendly advice.
A $500 million special-purpose acquisition company backed by Ares Management Corp. is the first jumbo blank check firm to emerge after more than a year of mostly tiny offerings.
Ford Motor Co., beat first-quarter profit estimates, posting a surprisingly strong gain on higher vehicle pricing and increased sales volumes. It left its full-year outlook unchanged.
The speed of disruption brought on by a worldwide rush into artificial intelligence was on full display this week, sending shares of education-technology company Chegg Inc. plunging, leading IBM to halt some hiring and prompting a chatbot ban at Samsung Electronics Co.
Just a day after Wall Street breathed a sigh of relief with the rescue of First Republic Bank, a selloff in US regional lenders fueled renewed anxiety over financial stability, sinking stocks across the board and spurring a flight to the safest corners of the market.
Malaysia will likely extend a pause in rate increases on Wednesday, as slowing inflation gives it space to continue assessing the impact of last year’s monetary tightening amid weakening global demand.
China’s big-spending shoppers are back, to the relief of the global luxury industry. But in a pandemic-era shift, they’re doing more of their spending at home, even with mainland borders open again — and the consequences for foreign destinations and brands once reliant on deep Chinese pockets could be dire.
Washington’s ability to avert a catastrophic US debt default risks coming down to as few as seven days in May, underscoring the enormous threat of the partisan impasse.
