SPAC Boom Ends in Frenzy of Liquidation

With few prospects for deals and a surprise tax bill looming next year, special-purpose acquisition companies are closing at a rate of about four a day this month. 


 
Stock Selloff Hits Life Insurers' Fastest-Growing Product

Indexed universal-life policies grew with low rates and soaring markets, but those conditions reversed in 2022, exposing IULs high fees and complexity. 


 
Caroline Ellison Apologizes for Misconduct in FTX Collapse

The former CEO of Alameda told a judge she and others conspired to steal billions from FTX customers while misleading investors and lenders. 


 
Biden Administration Delays Tax Rules for Crypto Brokers

The push to require crypto brokers to report their customers' gains to the IRS is aimed at clamping down on crypto investors' tax avoidance. 


 
Market Chill Opens a Path for Sixth Street's Advance

The lender's decision to sit out the go-go market is providing an advantage during a downturn in deals involving companies including Emerson Electric. 


 
Equity funds suffer largest ever weekly outflows: BofA Global

Investors withdrew billions of dollars from equity funds at a record pace in the days after the Federal Reserve, the Bank of England and European Central bank raised interest rates in mid-December and reiterated their commitment to lowering inflation, fueling fears of an economic downturn. 


 
Sam Bankman-Fried Released on $250 Million Bond

The FTX founder was ordered to stay in his parents' Palo Alto, Calif., home after his first appearance in a New York federal court. 


 
Top Executive for Financier Greg Lindberg Pleads Guilty

Federal prosecutors said Christopher Herwig, former chief investment officer of the N.C.-based conglomerate, helped to illegally extract hundreds of millions of dollars from insurers. 


 
London Stock Exchange Stakes Its Future on Data

The LSEG's new deal with Microsoft means it poses a bigger threat to industry leader Bloomberg, analysts say. 


 
Justice Department Keeping Sharp Eye on Crypto Sector

The department's second-ranking official said a surge of its resources into cryptocurrency investigations portends a spate of aggressive enforcement ahead.


(END) Dow Jones Newswires

12-26-22 0015ET