Stan Druckenmiller, David Tepper Lead Family Offices Betting on AI
Billionaire investing titans Stanley Druckenmiller and David Tepper loaded up on stocks benefiting from the artificial intelligence boom during the first quarter.
Bloomberg Tech
UBS Poaches Half Dozen Tech Bankers From Barclays
UBS Group AG is hiring a group of a half dozen technology, media and telecommunications bankers from rival Barclays Plc, according to people familiar with the matter.
Large Investors Led 2022 Runs on Crypto Platforms, Study Finds
Last year’s run on crypto platforms like lender Celsius Network were “spearheaded by customers with large holdings, some of which were sophisticated institutional customers,” according to research from the Federal Reserve Bank of Chicago.
Debt-Limit Talks Are Far From Over, McCarthy Says Ahead of Biden Meeting
House Speaker Kevin McCarthy said ongoing talks to avert a historic US default were yielding little progress, even as President Joe Biden announced plans to meet with congressional leaders on Tuesday.
Private Credit Shop Castlelake Joins Consumer-Debt Push
Castlelake LP has agreed to buy up to $4 billion of consumer installment loans from fintech lender Upstart Holdings Inc., as private credit shops muscle into consumer lending.
What WeWork’s Other Founder Is Working On Now (Video)
WeWork founder Miguel McKelvey outlines his next act for the first time. He joins Caroline Hyde and Ed Ludlow to discuss his acquisition of clothing maker American Giant, starting a new shoe brand and building a social network for senior-aged users. Read more here: WeWork Co-Founder Buys Clothing Brand, Starts a Senior Center
Elliott Seeks Shakeup at NRG After ‘Worst Deal’ of Decade
Elliott Investment Management LP is calling for a boardroom shakeup at NRG Energy Inc., the second time in six years the activist investor has pushed for changes at the independent US power producer.
SVB’s Former CEO Says Fed, Social Media Contributed to Bank’s Collapse
The fastest pace of rate hikes by the Federal Reserve in decades combined with negative social media sentiment contributed to the failure of SVB Financial Group’s Silicon Valley Bank, said Greg Becker, former chief executive officer of the company.
UK Kicks Off Trade Talks With Switzerland to Boost Services
The UK and Switzerland are kicking off negotiations for a new free trade agreement to boost the exchange of services between the two countries post-Brexit.
BOE’s Pill Says AI May Help Central Banks Make Better Decisions
The automation revolution may trigger a jump in UK living standards and allow central banks to make better decisions, according to Bank of England Chief Economist Huw Pill.