Braskem SA, one of the world’s top petrochemicals makers, received an offer of as much as 37.5 billion reais ($7.6 billion) from Abu Dhabi National Oil Co. and Apollo Global Management, according to people familiar with the matter.
Steep spending cuts contained in a House Republican budget bill would dramatically exacerbate a shortage of US air-traffic controllers that has already led to a reduction in flights to New York this summer, officials said Friday.
A big short squeeze in bank stocks punctuated a week of resurgent volatility across asset classes, with anxiety over efforts to stanch turmoil in the financial system leaving no market untouched.
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.
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.
