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First Brands to Pursue Insider Lawsuits in Wind-Down Plan
A Houston bankruptcy judge has cleared First Brands to seek creditor approval for a liquidation strategy aimed at clawing back funds from its indicted founder. By rejecting a forced Chapter 7 conversion, Judge Christopher Lopez granted the failing auto parts maker a window to pursue litigation against former company insiders.
Wall Street clears SpaceX debut, setting blueprint for future mega IPOs
The record-breaking Nasdaq launch of SpaceX proceeded without the technical failures that historically plagued massive public offerings, providing a successful template for the upcoming listings of OpenAI and Anthropic. Wall Street firms processed millions of orders, successfully navigating the highest retail activity ever recorded for an IPO auction.
Wall Street Celebrates SpaceX IPO With Lavish Excess
A 120-foot image of Elon Musk beamed across Times Square as Manhattan’s elite toasted the SpaceX IPO with Dom Pérignon and moon pies. While the rocket maker’s market debut minted a new class of millionaires and generated $500 million in bank fees, the revelry highlighted a widening disconnect from a struggling economy.
Japanese Investors Poured Billions into SpaceX IPO
Japanese retail and institutional investors clamored for a piece of the Elon Musk empire, placing orders for more than 1 trillion yen—roughly $6.2 billion—in SpaceX shares during its record-breaking public listing. Despite the overwhelming interest, final allocations for these investors totaled approximately $2.2 billion, according to recent regulatory filings.
Brazil introduces subsidized motorcycle credit for delivery drivers
With the central bank’s benchmark interest rate sitting at 14.5%, the Brazilian government is stepping in to offer delivery drivers subsidized financing for new motorcycles. The initiative aims to lower borrowing costs to between 11.5% and 12.5%, targeting a growing workforce segment ahead of the October elections.
Kenneth Leech Admits to Obstructing SEC Probe
Former Western Asset Management co-chief investment officer Kenneth Leech pleaded guilty to obstructing a federal investigation on Friday, narrowly avoiding a trial on fraud charges. The 72-year-old admitted he lied during sworn testimony regarding his controversial strategy of allocating profitable trades to favored portfolios.
SpaceX Hits $2 Trillion Valuation in Record-Breaking Nasdaq Debut
SpaceX shares surged to $150 on their Friday Nasdaq debut, climbing 11% above the initial offering price of $135. This market entry follows a record-setting $75 billion IPO, pushing Elon Musk’s aerospace and AI enterprise past a $2 trillion valuation and cementing its position as the largest initial public offering in history.
SpaceX Hits Nasdaq at $1.96 Trillion Valuation
Investors poured into SpaceX on Friday, marking the aerospace giant’s official stock market debut. The listing, which raised a record-breaking $75 billion, cements Elon Musk’s vision of a unified empire spanning reusable orbital rockets, global satellite internet, and advanced artificial intelligence under a staggering $1.96 trillion market capitalization.
Austrian Prosecutors Charge Rene Benko in Signa Collapse Fraud Case
Austrian authorities have leveled new charges against Rene Benko, the disgraced founder of the defunct Signa property empire. Prosecutors allege that the former tycoon orchestrated a sophisticated scheme involving false guarantees to secure funds, ultimately resulting in a multi-million euro loss for a private family trust.
Appeals Court Upholds Sam Bankman-Fried Conviction
A three-judge panel in Manhattan rejected Sam Bankman-Fried's appeal on Friday, affirming both his 2023 fraud conviction and 25-year prison sentence. The ruling concludes a significant challenge from the former billionaire, who sought to overturn the verdict linked to the multibillion-dollar collapse of his cryptocurrency exchange, FTX.
Spanish Court Probes Origin of €1.3 Million in Jewellery Found in Zapatero’s Office
A High Court judge has launched a secondary investigation into former Prime Minister Jose Luis Rodriguez Zapatero after discovering jewellery valued at €1.3 million during a search of his office. The assets lack documented proof of origin, raising suspicions of tax evasion or smuggling in an already turbulent political climate.
BP seeks buyers for major Gulf of Mexico oil projects
BP has launched a formal search for investors to purchase minority stakes in its Kaskida and Tiber developments, marking an early strategic maneuver for new CEO Meg O'Neill. The company aims to offload portions of these high-value assets to unlock capital for its renewed commitment to global oil and gas production.
Hedge funds retreat from tech giants ahead of SpaceX debut
Hedge funds aggressively offloaded shares of the Magnificent Seven tech giants last week, pivoting away from high-growth assets as markets braced for the arrival of SpaceX. JPMorgan data indicates investors are rapidly rebalancing portfolios, liquidating large tech positions to clear space for the anticipated $1.77 trillion valuation of Elon Musk’s aerospace firm.
Italy targets institutional capital with new inflation-linked bond
Facing a public debt load exceeding €3 trillion, Italy is developing a debt instrument specifically for banks, insurers, and pension funds. Davide Iacovoni, the Treasury’s director general of public debt, confirmed the state is looking to capitalize on the surging institutional appetite for domestic inflation-linked hedges.
SpaceX IPO and Middle East Tensions Shake Global Markets
SpaceX has launched the largest IPO in history, raising $75 billion at a $1.77 trillion valuation, a milestone that cements Elon Musk’s status as the world’s first trillionaire. This massive offering arrives as Wall Street grapples with stubborn inflation and the looming prospect of a peace deal in the Middle East.
SpaceX goes public under Elon Musk’s iron-fisted IPO terms
As SpaceX prepares for a massive $1.75 trillion market debut, Elon Musk is rewriting the rules of the traditional initial public offering. By dictating specific bank roles, setting fixed prices, and bypassing standard disclosure norms, Musk is forcing institutional and retail investors to bet on his personal vision over conventional financial scrutiny.
Kevin Warsh Faces Market Scrutiny in Debut Federal Reserve Meeting
Investors are bracing for a period of heightened volatility as newly appointed Federal Reserve Chair Kevin Warsh prepares for his first policy meeting. With major U.S. stock indexes retreating from recent record highs, market participants are dissecting every signal for clues on how the new leadership will balance inflation and growth.
Private credit dividends face liquidity squeeze as cash coverage drops
Median dividend coverage across 46 U.S. business development companies dipped to 0.99 in the first quarter of 2026, signaling that reported net investment income no longer fully sustains regular and supplemental payouts as falling interest rates and narrowing lending spreads erode the sector’s high-yield appeal.
U.S. Regulators Intensify Oversight of AI Integration in Banking
Federal banking supervisors are quietly expanding their scrutiny of how lenders deploy artificial intelligence, shifting from passive observation to rigorous examination of data governance and vendor security. Regulators are demanding that banks map AI usage in high-stakes areas like credit underwriting, signaling a move toward tighter, principles-based oversight.
SpaceX Hits Nasdaq in Record-Breaking $75 Billion Debut
SpaceX begins trading on the Nasdaq this Friday following a historic $75 billion initial public offering that shatters the previous record held by Saudi Aramco. The launch catapults the firm to a $1.77 trillion valuation, cementing Elon Musk’s status as a trillionaire while testing the market's appetite for his expansive tech ambitions.
Rabobank and ING weigh bid for Belgian lender Belfius
A 20 percent stake in state-owned Belfius has drawn interest from Rabobank, ING, and Credit Agricole, according to reports in L'Echo and De Tijd. The Belgian government is preparing a private placement for the lender, which carries an estimated market valuation of approximately 10 billion euros.
Bank of Japan Poised for Rate Hike as Inflation Pressures Mount
With the policy rate set to climb to 1% next week—a level unseen since 1995—the Bank of Japan is preparing to pivot toward tighter monetary policy. Despite Governor Kazuo Ueda’s medical absence, the board remains focused on countering persistent inflation risks exacerbated by a weak yen and rising energy costs.
SpaceX Hits $1.77 Trillion Valuation in Record-Breaking IPO
With shares priced at $135, Elon Musk’s SpaceX secured $75 billion on Thursday, marking the largest initial public offering in history. The company, which spans satellite networks and AI infrastructure, will debut on the Nasdaq on Friday, officially crowning itself as a titan of the global market.
SpaceX IPO targets $1.75 trillion valuation amid AI pivot
SpaceX raised $75 billion on Thursday in the largest-ever initial public offering, positioning itself for a $1.75 trillion valuation. As the company prepares for its New York market debut on Friday, it faces a critical financial divergence: its profitable satellite internet business is currently subsidizing heavy spending on AI and next-generation rockets.
SpaceX Hits Nasdaq With Record $75 Billion IPO
Investors poured $75 billion into SpaceX on Thursday as the aerospace giant finalized its highly anticipated Nasdaq debut. The offering marks a definitive milestone for Elon Musk’s empire, capping two decades of volatile rocket development and ambitious satellite deployment that transformed the company from a struggling startup into a global infrastructure juggernaut.
SpaceX Shatters Records with $75 Billion IPO Debut
With a staggering $75 billion haul, SpaceX has officially eclipsed Saudi Aramco’s 2019 listing to become the largest initial public offering in history. The rocket and satellite manufacturer is scheduled to begin trading on the Nasdaq this Friday, signaling a potential shift for the broader equity market.
SpaceX IPO Hits Record $75 Billion in Landmark Nasdaq Debut
SpaceX priced its initial public offering at $135 per share on Thursday, raising a record $75 billion. The offering grants the rocket manufacturer a valuation of $1.77 trillion, surpassing established giants like JPMorgan Chase and Meta as it prepares to begin trading on the Nasdaq this Friday.
Forbright Bank debuts with $870 million valuation after share dip
Shares of Chevy Chase-based Forbright opened at $17.50 on Thursday, sliding below their $18 offering price during the bank’s Nasdaq debut. The company, founded by former U.S. Representative John Delaney, ultimately secured a market valuation of $870 million after raising $142 million through its initial public offering.
Citi Recruits Ryan Beaupré to Bolster Consumer and Retail Banking
Citigroup is aggressively expanding its consumer and retail investment banking division, appointing former UBS managing director Ryan Beaupré to lead coverage across food distribution, drug retail, and convenience sectors. This move follows a broader strategy to solidify the firm’s market influence through high-profile talent acquisitions and key deal-making roles.
UK regulator forces closure of payments firm Euro Exchange Securities
London’s High Court has finalized the appointment of administrators for Euro Exchange Securities UK Ltd, effectively shuttering the payments firm. The move follows an emergency intervention by the Financial Conduct Authority, which halted the company’s operations earlier this month due to persistent fears over money laundering and financial crime.