First Republic Lost $100 Billion in Deposits in Banking Panic
The bank said it would cut head count by as much as 25% and slash executive pay as it restructures its balance sheet.
UBS Attracts Customers Ahead of Credit Suisse Integration
UBS reported strong customer inflows as it prepares to swallow Credit Suisse, in the first banking megamerger for years.
Novartis Lifts Forecasts After Profit Beat
Novartis posted slightly higher earnings and sales for the first quarter, beating analysts’ expectations, said the planned spinoff of Sandoz remained on track for the second half of 2023, and raised its fiscal guidance.
Santander Keeps Outlook as Profit Beats Hopes
Santander reported a net profit of EUR2.6 billion in the first quarter, helped by a 17% rise in net interest income, and said it was on track to meet its full-year targets.
Chinese Banks Pressured to Lower Deposit Rates
Banks in China cut deposit interest rates in response to narrowing net interest margins, as Beijing continued to pressure down financing costs to help the economy recover.
Bed Bath & Beyond Took Out Emergency Loan on Eve of Bankruptcy
The retailer borrowed $54 million on Friday to make payroll, showing its finances were unusually dire even for a company facing chapter 11.
For Microsoft, AI is the future, but the present is cloudy
Expect Microsoft executives to discuss AI a lot when they reveal financial results Tuesday afternoon, but the more important disclosure will be tucked away.
How Bud Light Handled an Uproar Over a Promotion With Transgender Advocate
Two executives have been put on leave, and sales of the No. 1 U.S. beer have declined in recent weeks.
Apple Wins Appeal in App Store Case Brought by Epic Games
A federal appeals court upheld a ruling that mostly sided with Apple on App Store policies.
Fox News Ousts Tucker Carlson
Fox took issue with prime-time host’s private remarks that were derogatory toward network employees.
Source: Dow Jones Newswires