Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $3 billion, including a $2 billion commitment from the kingdom’s sovereign-wealth fund, […]
A hacker who robbed the decentralized stablecoin platform Beanstalk in April had a powerful tool: a $1 billion loan taken out with no collateral, no proof of income and no identity verification. The loan had to be repaid in less than a second, but that was all that was needed to steal tens of millions […]
Banks all over the U.S. and around the world have curtailed lending to the U.S. oil-and-gas sector. BOK Financial Corp. BOKF 1.09% has doubled down. The Tulsa, Okla.-based bank holding company for the Bank of Albuquerque, Bank of Oklahoma and Bank of Texas, along with other financial-services companies, is majority-owned by billionaire oilman George Kaiser. […]
A group led by Los Angeles Dodgers part-owner Todd Boehly reached a deal to acquire Chelsea Football Club from Russian billionaire Roman Abramovich for almost £4.3 billion, equivalent to $5.2 billion, the team said late Friday, marking a record sale price for a professional sports team. The deal’s completion is expected later this month, assuming […]
Marriott International Inc. MAR -2.89% People are ready to travel like it’s 2019. Marriott’s first-quarter sales jumped 81% as the hotel giant said it saw the largest surge in global travel demand since the onset of the pandemic, and Airbnb Inc.’s gross bookings in the latest quarter grew 67% to $17.2 billion—a record for the […]
In the world’s transition to lower-emission fuels, politics is a big part of both the solution and the problem. Decarbonization is shaping up to be the next industrial revolution—a massive shift that will lead to the decline of some industries and the rise of others, creating both risks and opportunities for investors. Even though renewable […]
A new burst of selling in bonds pushed the 10-year Treasury yield well above 3% Thursday, a day after Federal Reserve Chairman Jerome Powell had seemed to calm markets by playing down the chances of a supersize interest-rate increase in the coming months. Treasury yields, which rise when bond prices fall, started climbing early in […]
Shopify’s ambitions are running head first into inflation, supply-chain challenges, soaring gas prices and customers’ return to actual stores. Photo: CHRIS WATTIE/REUTERS Shopify SHOP -8.62% picked a tough time to go into investment mode. The Canadian e-commerce upstart unveiled a bold plan earlier this year to build up its own logistics network to help its […]
HSBC, HSBC -4.58% Europe’s most valuable bank, makes most of its money in Asia but is headquartered in the U.K. Now its largest shareholder, China’s Ping An Insurance, 601318 -2.13% is pushing for strong measures to rectify this unwieldy arrangement—including a potential spinoff of the Asian business. HSBC is involved in a major restructuring effort […]
UBS had accused James Boland and a lieutenant of not informing superiors and compliance officials that they had reclassified a bond the firm was underwriting as a loan. Photo: Francois Glories/Zuma Press Updated May 4, 2022 6:12 pm ET UBS Group AG’s UBS -3.81% rationale for the 2018 firing of a senior investment banker was […]
