Wall Street banker bonuses are supposed to be kept secret for a variety of reasons. If everyone knew who was paid what, there would be an uprising as people discovered that clear underperformers were getting compensated more than them. It happens. Wall Street compensation is not always about performance. As I outlined in a column earlier this year, it’s largely ...

  SoftBank Group Corp Chief Executive Officer Masayoshi Son and Credit Suisse AG Chairman Axel Lehmann doubtless wish their respective firms had never met disgraced financier Lex Greensill. But hopefully they — and the finance industry at large — can learn lessons from the scandal that ensued. Greensill’s charm, self-belief and supposed skill at turning the staid business of supply-chain ...

  After the worst first half in memory for European credit markets, the ship has steadied. The euro-aggregate index rose 4% in July, its best month ever. That reversed a similar-sized loss in June, which punctuated a 13% drop in the first six months for supposedly safe investment-grade bonds. In the midst of high summer, as is to be expected, ...

  Bloomberg Tencent Holdings Ltd’s biggest investees plummeted after Reuters reported the social media giant intends to sell all or much of its $24 billion stake in food delivery giant Meituan to appease Beijing. The social media giant has engaged financial advisors in recent months on ways to execute the sale of a roughly 17% stake, Reuters reported, citing sources ...

  Bloomberg Delivery Hero SE sought to reassure investors with an accelerated plan to reach profitability by next year driven by its Asia business despite a broader slowdown in the food delivery industry. While growth has eased following a pandemic surge, the Berlin-based company said it will generate positive adjusted earnings in fiscal year 2023. It also forecast the value ...

  Bloomberg Hanwha Q Cells — one of the few solar-panel makers with US production — is considering sites for a massive new facility as the country prepares to incentivise cleantech manufacturing. The company is evaluating sites in Georgia, South Carolina and Texas, according to documents filed in Texas. The potential project in Dallas County, Texas, would feature a suite ...

  Bloomberg Mahindra & Mahindra Ltd launched five electric sports utility vehicles designed in the UK as the automaker seeks to expedite its lagging switch to battery-powered cars in India. The SUVs will be sold under two brands — XUV and BE — the automaker said in a video presentation. The electric vehicles were conceptualised at the Mahindra Advanced Design ...

  Bloomberg Sea Ltd posted a bigger loss than expected and withdrew its 2022 e-commerce forecast, joining other online giants struggling to gauge an increasingly uncertain global economic outlook. Its shares dived 14% in New York, wiping $800 million off the wealth of founder Forrest Li. Once Southeast Asia’s most-valuable company, Sea’s shares have now fallen almost 80% since peaking ...

  Bloomberg A heat wave in Sichuan is curbing hydropower generation in a growing threat to electricity supply and economic growth in one of China’s most-populous provinces. Some factories in the manufacturing hub in southwestern China are curbing production, and the extreme weather may also cut supplies of materials like polysilicon and lithium that are vital to the energy transition. ...

Bloomberg China called on the US to refrain from sailing naval vessels through the Taiwan Strait, saying Beijing would take further action in the wake of House Speaker Nancy Pelosi’s visit to Taipei. China’s ambassador to Washington, Qin Gang, said Tuesday that China viewed such Taiwan transits as an escalation by the US and an effort to support the “separatist” ...