Banks Still Clamor for Cash as Funds Needed to Bolster Liquidity
The funding panic triggered by the shock collapse of Silicon Valley Bank and others in March may be subsiding, but the scramble for money by banks isn’t over.
Bloomberg Top News
Bove Says First Republic May Be JPMorgan’s Best Deal in Decades
Odeon Capital’s Dick Bove said JPMorgan Chase & Co.’s deal for failed lender First Republic Bank could prove to be the bank’s best acquisition in decades.
Target CEO’s Pay Fell $2.1 Million Last Year, Hurt by Lower Profit
Target Corp.’s top leader took a $2.1 million hit to his compensation last year after a surge in inventory hammered the retailer’s profit.
Africa to Be Biggest Loser If Global Tensions Mount, IMF Warns
Africa could suffer a permanent economic hit if tensions splinter the global economy into opposing trading blocs around the US and China, the International Monetary Fund said.
MGM Resorts Tops Estimates, Cites Gains in Vegas and Macau
MGM Resorts International, the largest operator of casinos on the Las Vegas Strip, reported first-quarter results that beat Wall Street estimates, crediting growth in Nevada and a rebound in Macau.
Morgan Stanley Hires Credit Suisse Healthcare Banker Bondroff
Morgan Stanley has hired Credit Suisse Group AG’s head of health-care investment banking for the Americas Ryan Bondroff, according to people with knowledge of the matter.
Manchin Seeks to Repeal Parts of Inflation Law on Debt Concerns
Senator Joe Manchin said he would push to repeal parts of the Inflation Reduction Act that he claims could raise the national debt.
Stock Pickers on Wall Street Are Going All-In on Recession Bets
As Wall Street economists and central bankers debate if and when the US economy will slip into a recession, big money managers aren’t waiting to find out.
Billion-Dollar Corporate Bond Deals Hit Treasuries: Markets Wrap
(Bloomberg) — A renewed bout of selling hit the Treasury market, with factory data bringing little comfort on the inflation front and a handful of companies offering bonds ahead of the Federal Reserve decision.
Ed Sheeran Calls Claims in Marvin Gaye Copyright Trial ‘Really Insulting’
Musician Ed Sheeran told jurors he finds the claim that he stole from a classic Marvin Gaye song “really insulting” during court testimony that included the British recording artist singing, playing guitar and frequently sparring with a lawyer for the opposing side.