Good morning. It looks like the US is in a manufacturing recession. Yesterday’s ISM manufacturing report showed the sector shrinking for the third straight month, and the ISM index has dipped below where it bottomed in recent non-recessionary downturns, such as 2015-16. The contrast with…

Bitcoin and Ethereum prices have been on the rise recently, with BTC and ETH both rising 4% following the Federal Reserve’s rate hike. With more investors turning to cryptocurrencies as a safe haven asset, it is likely that the prices of Bitcoin and Ethereum will…

Indian billionaire Gautam Adani tried to reassure investors on Thursday after he abruptly abandoned his flagship firm’s $2.5 billion share sale. “For me, the interest of my investors is paramount and everything is secondary,” the 60-year-old businessman said in a recorded video address. “Once the…

The US Federal Reserve increased its benchmark interest rates by a quarter of a percentage point yesterday, marking a return to a slower, more orthodox pace of rate rises. But its European and British counterparts are likely to stick to a 50 basis point rise…

One scoop to start: Banks that lost billions from the meltdown of Archegos Capital Management will get back as little as 5 cents on the dollar from its restructuring, with brokers such as Goldman Sachs funding the payouts using cash left in the family office’s…

Investment bankers who string together complex corporate takeovers have a new item on their checklists: avoid deal terms that force acquirers to refinance debt.Keeping old borrowings on the books rather than rolling into new bonds and loans has become a priority for private equity groups…