Bloomberg Jefferies Financial Group Inc’s earnings took a hit from an unlikely source: WeWork’s dropping valuation. Third-quarter revenue came in below even the lowest analyst expectationas the company’s merchant banking unit wrote down the value of its investment in We Co by $146 million. Net revenue fell slightly to $777 million despite increases in both fixed-income and equities trading, Jefferies …

Bloomberg Behind-the-scenes regulatory requirements imposed on the largest US banks may help explain one mystery spawned by recent turmoil in an obscure, but important, slice of the multitrillion-dollar money market. Dealers and policy makers alike have wondered why big banks didn’t step in as rates on overnight repurchase agreements soared to record highs. Those banks have about $1.4 trillion deposited …

Bloomberg Delta Air Lines Inc is dramatically expanding its South American footprint, agreeing to a $2.25 billion deal with Latam Airlines Group SA after a similar arrangement between the Chilean company and American Airlines Group Inc ran into legal trouble. The pact calls for Delta to pay $1.9 billion for a 20 percent stake in Latam, Latin America’s largest carrier, …