Chimera Investment LLC, part of a business empire overseen by Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan, set up a $50 billion fund, adding to the plethora of sovereign and state-linked funds in the oil-rich emirate. Lunate, which will start operations later this year, will manage the funds of...
Stocks, bonds and the dollar saw small moves, with a mixed inflation report reinforcing speculation the Federal Reserve will pause its rate hikes — but refrain from calling the end of its tightening cycle. The S&P 500 was little changed. The Dow Jones Industrial Average underperformed. American Airlines Group Inc....
Household incomes fell in a third of all states nationwide last year, while just five saw median income levels improve, according US Census Bureau data. Household incomes fell in 17 states, mostly in the upper Midwest, one-year estimates from the American Community Survey found. Michigan, Pennsylvania, and Ohio — widely...
Investcorp’s Jeremy Ghose is a popular man. Ever since the $50 billion firm snapped up alternative-credit manager Marble Point late last year, he’s been juggling calls from bankers and firms pitching similar deals. “People know we’re in acquisition mode and they know we have the ability to write checks,” says...
Bridgewater Associates LP founder Ray Dalio said he doesn’t want to own bonds and prefers cash, highlighting difficulties investors face as global central banks try to manage inflation. “I don’t want to own debt, you know, bonds and those kinds of things,” the billionaire said Thursday at the 10th Milken...
Al Gore, the former U.S. vice president turned climate crusader, says Big Oil and the banks backing it still have huge financial incentives to stick with fossil fuels, even though their decision to do so is the leading cause of the climate crisis. Bankers “are profiting hugely” from their role...
U.S. equity futures traded little changed as traders awaited inflation data for clues on whether policy makers will keep rates higher for longer. Europe’s Stoxx 600, meanwhile, retreated 0.7% as stagflation concerns mounted. The pound extended declines to a three-month low after the UK economy shrank at the quickest pace in...
Binance.US Chief Executive Officer Brian Shroder has left the crypto trading platform and been replaced on an interim basis by Chief Legal Officer Norman Reed, according to a company spokesperson. The departure comes as the company controlled by embattled digital entrepreneur Changpeng “CZ” Zhao is eliminating about one third of its...
Investors in semiconductor stocks face a growing threat to industry valuations: a chronic shortage of water. For Abrdn Plc, there are now few issues as pressing as water for the sector, according to David Smith, a senior investment director for Asian equities at the asset manager. “Water management has been one...
Deutsche Bank AG is testing out artificial intelligence tools that aim to detect possible signs of misconduct from the tone of traders’ phone conversations. Germany’s largest bank is examining Google Cloud’s machine learning as part of a wider exploration of uses for AI, Bernd Leukert, chief technology, data and innovation...