When Mario Draghi ran the European Central Bank, he pushed, unsuccessfully, to get the region’s feeble banks to merge and clean themselves up. Now as Italy’s prime minister, he is trying again, hoping to spur a consolidation wave among the country’s beleaguered lenders. Italy’s banking sector, stuffed with soured loans and weighed down by high […]
The wild ride in bitcoin and other cryptocurrencies accelerated over the weekend, with bitcoin prices falling back near $30,000 and flirting with their lowest levels since late January. After a punishing selloff last week, bitcoin dropped to $32,919.75 on Sunday afternoon, according to CoinDesk, down 14% over the previous 24 hours and more than 50% […]
Luis Gazitua put his Florida home up for sale in April when he saw the influx of clients coming from out of state to buy homes at prices he had never dreamed of. Within days of listing it, his three-bed, three-bath, 2,800-square-foot home on an acre lot received three all-cash offers of $1.7 million each. […]
Some of the world’s biggest companies and deepest-pocketed investors are lining up trillions of dollars to finance a shift away from fossil fuels. Assets in investment funds focused partly on the environment reached almost $2 trillion globally in the first quarter, more than tripling in three years. Investors are putting $3 billion a day into […]
When it comes to the Covid-19 crisis, there are two kinds of companies: Those that benefited from it and have to worry how they will do as the crisis eases, and those that got hurt by it and have to worry if they will ever get their old business back. The novel coronavirus pandemic led […]
The boom in blank-check companies earlier this year has lured companies to list in New York and has cut into Europe’s share of the global market for initial public offerings. Signa Sports United, a Berlin-based sports e-commerce and technology platform, is among the latest looking at this route through a special-purpose acquisition company, or SPAC. It […]
The prices of bitcoin, ether and other cryptocurrencies found some respite Thursday, following a selloff that delivered a sharp blow to investors swept up in a rally since late last year. Bitcoin recovered more than 4% to $40,077.40 on Thursday. It had dropped more than 11% by 5 p.m. ET on Wednesday, after earlier plunging […]
Kohl’s KSS -0.09% and Macy’s M 0.83% are getting almost back to where they were before the pandemic struck. Unfortunately for them, competitors are already well ahead of that. In the quarter ended May 1, Kohl’s and Macy’s saw net sales rebound 70% and 56%, respectively, compared with a year earlier, as shoppers looked to […]
The expected move follows a decision earlier Thursday by Canadian Pacific to hold firm on the terms of its already-agreed deal with Kansas City Southern after the U.S. railroad operator indicated it would favor a topping bid by Canadian National. The decision could be unveiled by Friday. There is no guarantee Kansas City Southern will […]
The boost from the pandemic is surely fading for Tencent but Its profit grew 65% in the latest quarter, beating expectations. Photo: aly song/Reuters Updated May 20, 2021 8:12 am ET Regulatory concerns have clouded the outlook for the world’s largest gaming company lately. But the latest results for Tencent TCEHY -1.96% show it’s still […]
