Wall Street’s hottest investment trend is to score companies on environmental, social and governance criteria, in an attempt to steer investors away from potholes. Credit Suisse’s CS -4.50% investors might have expected a corporate governance disaster based on its ESG scores—but only if they picked the right ratings agency. With the Swiss bank achieving excellent, […]
Wells Fargo WFC 3.68% & Co.’s profit soared 86% in the final three months of 2021. The San Francisco-based bank said Friday that it made $5.75 billion in the fourth quarter, up from $3.09 billion a year earlier. Per-share profit totaled $1.38, above analyst estimates of $1.11. Profits were aided by investment gains in its […]
The move reflects the fraught decisions facing governments in Europe over how to spread the pain from a surge in natural-gas and electricity prices. Regulated utilities are seen as low-risk bets for investors but Friday’s 15% drop in EDF’s shares was among the biggest for the French firm since it listed in Paris in 2005, […]
Non-fungible tokens, or NFTs, are a lot like sneaker drops: They come in limited quantities, depend on sky-high demand and stir speculative crazes in the resale market. It should come as no surprise, then, that Nike, Adidas and Under Armour have dipped their toes into the market. Can they hit the ground running? NFTs are […]
A major bright spot for the hedge-fund industry in recent years has suddenly darkened as stocks of technology and other fast-growing companies sell off, handing out large losses to some big investors. Hedge funds investing in growth stocks turned in their worst performance in years in 2021, according to portfolio managers and their clients. Many […]
HONG KONG—China Cinda Asset Management Co., a state-owned financial institution, is pulling out of a planned large investment in the consumer-finance arm of Jack Ma’s Ant Group Co., dealing a setback to the fintech giant’s lending-business revamp. Beijing-based Cinda, which is one of the country’s four big bad-debt managers, said Thursday that its board of […]
China Evergrande Group secured investor backing to delay making payments on a $708 million onshore bond denominated in Chinese yuan, avoiding what could have been its first public default in the country’s domestic bond market. The move highlights how big Chinese borrowers such as Evergrande can effectively operate in two distinct financial worlds, with creditors […]
Bausch & Lomb Corp. has filed paperwork for its initial public offering, nearly a year and half after its parent company, Bausch Health BHC 1.23% Cos., said it would spin off the eye-care company. The company said it plans to raise $100 million in its IPO, a placeholder figure companies often use to calculate filing […]
Professional golfer Tiger Woods is a lead investor in Sports & Health Tech Acquisition Corp., a so-called blank-check company looking to raise $150 million, targeting sports and health technology investments. The company, Mr. Woods’s foray into special-purpose acquisition companies, said it would focus on fan engagement, consumer-facing health and fitness technologies, and health and well-being, […]
Inflation is high, and the job market is tight. Both of those things have a lot to do with the pandemic, but how much do they have to do with each other? Newsletter Sign-up Heard Alert The first word on what Wall Street is talking about. The Labor Department on Wednesday said its measure of […]
