Oil Falls for Second Week as Iran Speculation Sways Quiet Market
Oil posted its second straight weekly decline as signals of additional crude supplies and a deteriorating global demand outlook loomed over a string of thinly traded sessions.
Bloomberg Business
Rite Aid Prepares Chapter 11 Bankruptcy to Restructure Debts
Rite Aid Corp. is preparing a Chapter 11 bankruptcy filing to restructure debts including opioid liabilities, according to people with knowledge of the matter.
Marketing Firm Klaviyo Files for IPO Showing Profitability
Marketing and data automation provider Klaviyo Inc. filed for an initial public offering, another sign that US equity markets are rebounding after an 18-month slump.
Adderall-Alternative Vyvanse Approval Set to Ease ADHD Drug Shortage
For millions of American patients and parents struggling to fill prescriptions for ADHD medications that are in short supply, help is on the way.
Lagarde Says ECB Rates to Be as High as Needed for Inflation
President Christine Lagarde said the European Central Bank will set borrowing costs as high as needed and leave them there for as long as it takes to bring inflation back to its goal.
Cyber Startup Wiz Is Weighing Potential Bid for SentinelOne
Closely held cloud cybersecurity company Wiz Inc. is considering a potential bid for SentinelOne Inc. in what would represent a rare move by a startup to buy a large listed company.
ECB’s Kazaks Says He Would Err on Side of Raising Interest Rates
European Central Bank Governing Council member Martins Kazaks said it’s better to err on the side of tighter monetary policy than allow the risk of re-accelerating inflation.
Treasury Market Slips, Front-End Yields Rise on Hawkish Powell
The US bond market was hit by a fresh round of selling pressure after Federal Reserve Chair Jerome Powell said the central bank remains prepared to push interest rates higher and keep them elevated if needed to keep reining in inflation.
SpaceX Fires Up Starship Rocket Engines in Key Test
SpaceX ignited the engines on its Starship rocket during a critical test on Friday, potentially paving the way for a second test flight after its April debut ended in an explosion.
Blue Torch Agrees to Buy Bankrupt Pillow Maker From H.I.G.
Blue Torch Capital has decided to buy bankrupt pillow maker Pegasus Home Fashions Inc. from H.I.G. Capital, which took over the company two years ago.