A U.S. congressional committee will accuse the biggest Wall Street firms on Tuesday, in a report seen by Reuters ahead of its publication, of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions.
Tag: Wall Street
SPAC Mania’s Ugly End Yields $46B in Investor Losses
Wall Street’s affair with blank-check firms, the finance fad that pushed companies onto the stock market during the Covid-19 pandemic, ended this year with a string of big bankruptcies and even bigger losses for shareholders.
Wall Street WhatsApp, Texting Fines Exceed $2.5 Billion
Wells Fargo & Co. and BNP Paribas SA are among firms that will pay hundreds of millions of dollars in penalties for employees using unofficial communications like WhatsApp, personal texts or email to conduct business — the latest in US regulators’ crackdown on Wall Street’s failure to keep records.
SPAC Surge Pumps Up Junk-Bond Market
The wave of cash raised by special-purpose acquisition companies is rolling into the junk debt market, aiding distressed companies and rewarding investors who own their bonds and loans. SPACs, also known as blank-check companies, have issued roughly $100 billion of stock this year, a record, to buy private companies and take them public. Some SPACs… Continue reading SPAC Surge Pumps Up Junk-Bond Market
SPAC Listings Slow to A Crawl with Bankers Buried in Paperwork
Anxiety is growing that the wellspring of special-purpose acquisition companies, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington. The pipeline of SPACs rushing to market is getting so clogged that bankers, lawyers and auditors are turning away business as they struggle… Continue reading SPAC Listings Slow to A Crawl with Bankers Buried in Paperwork