Bloomberg President Joe Biden’s hopes for a political reset have been overwhelmed by an unrelenting series of economic setbacks, adding to the challenges Democrats face as they court exhausted voters ahead of the crucial midterm election in November. US gasoline prices are at historic highs. Inflation in April exceeded consensus forecasts. Technology stocks have plummeted, taking retirement accounts with them. ...

  Bloomberg Just a few years after banks helped create a gargantuan market for blank check companies, they’re pulling away from the deals, afraid of the risks. Goldman Sachs Group Inc is ending its involvement with most of the special purpose acquisition companies it took public and pausing new US SPAC issuance, Bloomberg reported. Bank of America Corp (BofA) scaled back ...

  Bloomberg Credit Suisse Group AG’s board has held early stage talks on potentially replacing Chief Executive Officer Thomas Gottstein after a string of scandals and misfires, people with knowledge of the matter said. A change at the top of the bank could come as early as this year. While the board continues to publicly voice support for Gottstein, some ...