Wall Street’s biggest banks are set for their strongest investment banking quarter since 2021, with analysts projecting $9.1bn in Q3 advisory and underwriting revenue across JPMorgan, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley, up 13% year on year and 50% from 2023’s lows, though still below the 2021...
Water shortages in South Texas are jeopardizing a fast-growing industrial hub central to President Donald Trump’s twin goals of dominating global energy markets and slashing trade deficits. Corpus Christi, about 400 miles south of Dallas, is suffering a worsening drought that has already prompted lawn-watering bans, with officials warning tougher...
Beijing warned it will take corresponding measures if Donald Trump follows through on a threat to impose 100% tariffs on Chinese imports, intensifying a spat that has already rattled markets. China defended its sweeping new rare-earth export controls as legitimate and accused Washington of double standards, noting recent U.S. curbs...
China defended its Oct. 9 rare earth export controls as lawful and limited, saying approvals will be granted for compliant applications and military-linked items denied. The rules extend to related IP and technology and require licenses for products containing over 0.1% domestically sourced rare earths or made with Chinese methods....
President Donald Trump’s threat of an additional 100% tariff on Chinese imports ignited a late-Friday crypto rout, exposing risky leverage and prompting $18.28 billion in liquidations, according to CoinGlass, which called it the largest in crypto history. Bitcoin slid nearly 10% over five days, briefly dropping to $103,000 before bouncing;...
After a record-setting surge in US stocks, traders enter earnings season with high expectations and little tolerance for disappointments. The S&P 500 is up 11% year-to-date, powered by a frenzy over artificial intelligence that has echoed across global markets. Earnings forecasts have climbed as well: analysts tracked by Bloomberg Intelligence...
Morgan Stanley’s asset-management arm has asked to redeem part of its investment in a Jefferies Financial Group fund, according to people familiar with the talks. The money was placed with Point Bonita Capital, a Jefferies unit within Leucadia Asset Management. Sources said Point Bonita had roughly a quarter of its...
Japan’s Asahi halted production at most of its 30 domestic factories after a cyber-attack, leaving restaurants and shops short of Super Dry and other drinks. Although all facilities, including six breweries, have partially reopened, computer systems remain down, so orders go by pen, paper and fax, and shipments are sharply...
As the U.S. government shutdown hit day ten Friday, an uptick in sick calls among essential aviation staff deepened staffing strains just as 52,000 flights are slated for the Columbus Day weekend. CBS News correspondent Kris Van Cleave called the national picture "a little messy," with sporadic delays and cancellations....
Wall Street is on edge after auto parts maker First Brands filed for bankruptcy on 29 September, revealing liabilities of $10bn-$50bn against $1bn-$10bn in assets and heavy reliance on opaque off-balance-sheet invoice financing. Arranger Raistone says up to $2.3bn has "vanished," while Jefferies reports $715m in exposure and an inquiry...
