SoftBank's Boss Bet $22 Billion on Sprint. It Was a Slog.
For Japanese billionaire Masayoshi Son, a U.S. judge's recent approval of a merger between Sprint and T-Mobile is long-awaited payback on his $22 billion investment. But it is far from the triumph he sought when he announced he was taking control of Sprint in 2012.
China's Central Bank Cuts Rate on One-Year Medium-Term Lending Facility
China's central bank on Monday cut a crucial interest rate that could pave the way for lower benchmark lending rates, as Beijing moved to support an economy hit by the outbreak of a deadly coronavirus.
The Bond Market Might Finally Be Nearing Its Limit
For decades bonds have offered a form of insurance for investors, tending to move in the opposite direction to stocks over short periods while making good money over the longer run. But there is reason to believe this win-win might be ending.
RBS Pledges End to Coal Funding, Stricter Oil Rules
Royal Bank of Scotland said it would end financing for coal by 2030 and place stricter rules on oil-and-gas majors it works with, joining other companies that have made similar sustainability moves as investors and the public demand action on climate change.
Citigroup Keeps CEO's Pay at $24 Million
Mr. Corbat over the past seven years has focused on simplifying the bank and expanding its revenue from current customers and its consumer bank.
SEC Seeks to Improve Speed, Quality of Stock Data Available to Public
Federal regulators launched a new effort to overhaul the plumbing of the U.S. equity markets with a measure to improve stock-price data available to the public and reduce the informational advantage enjoyed by some professional traders.
U.S. Pension Insurer Scrutinizing Deals Between McClatchy, Hedge Fund
Lawyers for the Pension Benefit Guaranty said it suspects the transactions elevated the interests of hedge fund Chatham Asset Management over the agency, which has said it is poised to assume roughly $800 million in pension-related liabilities.
One Rock Aims to Raise $1.5 billion for Third Fund
One Rock Capital Partners is targeting $1.5 billion for its third flagship buyout fund, which would more than double the private-equity firm's managed assets, according to documents from a pension fund in Texas.
Former Banking Behemoth Changes a 300-Year-Old Brand Tainted by Crisis
Royal Bank of Scotland will alter its name in a bid to move on from the legacy of the global financial crisis that saw the U.K. banking giant receive a $59 billion bailout from British taxpayers to prevent it collapsing.
Payments Tech Provider Toast Raises $400 Million at $4.9 Billion Valuation
Toast, a startup that provides payment processing hardware and cloud-based software for restaurants, raised $400 million in Series F funding, as the company expands its product lineup.