Bank of Nova Scotia will dismiss 3% of its employees and take a writedown on its investment in a Chinese bank in a broad restructuring that underscores new Chief Executive Officer Scott Thomson’s focus on cutting costs. It could also be sign that job cuts are coming at other Canadian lenders.
Indian tech-services outsourcing firm Wipro Ltd. is planning to hire fewer engineering graduates this year, citing cautious clients that are cutting spending.
The billionaire Batista brothers behind Brazilian beef giant JBS SA are preparing to invest more than $1 billion to expand production at mines they acquired last year from Vale SA.
Goldman Sachs Group Inc. and Bank of New York Mellon Corp. are selling a combined $6 billion of investment-grade bonds on Wednesday, joining other Wall Street stalwarts selling debt post-earnings even as borrowing costs rise.
Texas Attorney General Ken Paxton’s office said it’s reviewing whether 10 financial companies, including Bank of America Corp. and JPMorgan Chase & Co., violate a Republican-backed state law that punishes firms for restricting their work with the oil and gas industry because of climate change concerns.
Bank of America Corp. has words of comfort for investors in risky assets braving every bond-market blow: Things are slowly getting better.
The outlook for the US economy is stable or may show softer expansion, the Federal Reserve said in its Beige Book survey of regional business contacts.
Prime Minister Rishi Sunak is pushing for nations to label artificial intelligence as capable of “catastrophic harm” at the AI Safety Summit the UK is hosting next month as it seeks to forge a common international approach on the rapidly advancing technology.
Investors have pushed Tesla Inc. stock higher for months despite deteriorating fundamentals. The electric-vehicle maker’s results later Wednesday will test that strategy.
California is prioritizing home-insurance availability as it rewrites market rules to coax back insurers and ease a coverage crunch in a state ravaged by wildfires, said Insurance Commissioner Ricardo Lara.
