Tesla Inc.’s board of directors is facing pushback over a plan to reelect its chair and add a former executive to the board at its May 16 annual meeting, with leading proxy advisers raising doubts about their suitability.
President Joe Biden’s national security adviser and his top diplomat are planning separate trips to Saudi Arabia in the coming weeks, according to people familiar with the matter, in a new sign of the administration’s determination to smooth over rocky ties with the kingdom.
Lyft Inc. forecast revenue in the current quarter that was lower than analysts’ estimates, showing the challenges new Chief Executive Officer David Risher faces to turn around the struggling No. 2 ride-sharing company. The shares fell about 11% in extended trading.
DoorDash Inc. reported revenue that beat analysts’ estimates, showing that higher prices and a cloudy economic outlook aren’t dissuading customers from spending on takeout and other convenience deliveries.
A fresh rout in regional banks roiled trading desks around the globe, with brewing anxiety about the next financial shoe to drop making traders increase their bets on Federal Reserve interest-rate cuts.
The US is poised to exempt smaller lenders from kicking in extra money to replenish the government’s bedrock deposit insurance fund, and instead saddle the biggest banks with much of the bill.
Governor Tiff Macklem acknowledged that a further tightening of financial conditions due to global banking stresses could alter the future path of Bank of Canada interest rates.
(Bloomberg) — Bond traders eyeing the deepening rout in US regional bank shares concluded Thursday that the Federal Reserve is likely to reverse this week’s quarter-point interest-rate increase by July in response to tightening credit conditions.Â
Pacific West Bancorp, a small lender based outside Portland, Oregon, is seeking to distance itself from a California company with a similar moniker, PacWest Bancorp, whose shares have plummeted amid the recent regional-banking turmoil.
Corporate credit investors are looking to reduce their exposure to risk and issuers are remaining mostly on the sidelines as concerns about regional lenders flare up again.
