Bank of America posts drop in quarterly profit as dealmaking slumps
Bank of America Corp (BAC.N) posted a nearly 34% drop in second-quarter profit on Monday, hit by a slump in investment banking revenue as dealmaking activity was at a fraction of last year’s record levels.
Analysis: Why Elon Musk’s fight with Twitter could draw further SEC scrutiny
Twitter Inc’s (TWTR.N) fight with Elon Musk to enforce his $44 billion deal to buy the social media platform could attract scrutiny from the U.S. securities regulator over whether Musk has misled the market during the course of the deal.
Shell gets $1 bln refining boost, upgrades oil and gas assets
Shell (SHEL.L) said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion.
Amazon teams up with Just Eat on U.S. food delivery with Grubhub investment
Amazon (AMZN.O) has agreed to take a 2% stake in Just Eat Takeaway.com’s (TKWY.AS) struggling U.S. meal delivery business Grubhub and will offer its Prime members access to the service for one year.
Explainer: How Macron’s inflation relief law tests France’s new political order
President Emmanuel Macron’s government will get its first taste of life under France’s new political order in the days ahead when it tables a bill to help households cope with runaway inflation without a controlling majority in parliament.
With IPOs on ice, banks’ stock offering fees plummet
Recession fears and Russia’s invasion of Ukraine sent a chill through equity capital markets (ECM) in the second quarter, depriving bankers of lucrative fees for arranging stock sales such as initial public offerings (IPOs).
Analysis: Private equity’s swoop on listed European firms runs into rising execution risks
European listed companies have not been this cheap for more than a decade, yet for private equity firms looking to put their cash piles to work, costlier financing and stronger resistance from businesses are complicating dealmaking.
Exclusive: UniCredit widens search for buyers to sell out of Russia
Italian bank UniCredit (CRDI.MI) has widened its search for a buyer for its Russian business beyond local investors, as it steps up efforts to leave the country, two people with knowledge of the matter said.
China’s Didi faces rocky path to growth after winning U.S. delisting nod
Didi Global may have ensured its survival after winning shareholders’ nod for a U.S. stock delisting but a quick return to growth won’t be easy for the Chinese ride-hailer as it still faces regulatory scrutiny and as COVID-19 has hurt the business.
Explainer: Washington holds key to Russia’s sovereign default
The prospect of a Russia sovereign default is moving centre stage again with a deadline for a U.S. license allowing Moscow to make payments expiring on May 25 and $100 million in interest payments due shortly after.
