Wall Street’s Lucrative Leveraged-Debt Machine Is Breaking Down

(Bloomberg) — One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust. After driving a flurry of mega buyouts that contributed to a $1 trillion profit haul in the good times, … Read more

China to End Quarantines for Inbound Travelers as ‘Covid Zero’ Dismantled

As of Jan. 8, people arriving in China will no longer be quarantined, though they will be required to obtain negative Covid test results within 48 hours of departure, according to a statement from the National Health Commission Monday. That compares with the current requirement of eight days isolation — five days at a designated … Read more

Russia’s Crude Shipments Hit Five-Month High Before Sanctions

Cargoes shipped from Russia rose to 3.6 million barrels a day, the highest since early June, while the less volatile four-week average was also up, reaching the most since August.The UK has followed the EU’s lead in banning its companies from providing insurance and other service to ships carrying Russian crude, unless the cargo is purchased at a price … Read more

Employees Have Finally Had Enough of Its Toxic Culture

(Bloomberg Businessweek) — Shortly after Exxon Mobil Corp. lost its battle with an activist investor last year, an executive named Bill Keillor decided to give his department a morale boost. It had been a difficult year and a half for Exxon employees. Covid-19 and plunging crude prices had led to halted salary increases, reduced benefits, … Read more

China Stock Investors Fixated on Covid Curbs Shrug Off Stimulus

“The biggest near-term risk to Chinese growth is its dynamic Covid-zero policy, which is offsetting the positive effects of Beijing’s cautious policy easing,” said Jessica Tea, senior investment specialist for Greater China equities at BNP Paribas Asset Management. “China would need to see further fiscal stimulus in order to help stabilize its GDP growth, and … Read more

The Fed Has No Choice But to Let This Tantrum Rip

The Sound of the Fed’s Silence There are ways of overcoming modesty. Central banks customarily go into self-imposed silence ahead of important monetary policy meetings. In  Britain this is nicknamed “purdah,” after the religious practice of separating women from men with a curtain. With the Federal Open Markets Committee due to meet Wednesday, there was no way policy … Read more

People Keep Quitting Their Jobs Even as Recession Fears Mount

Since then, she’s had a reunion in Miami with friends from college, tended to a sick grandmother, helped her family fund a kitchen renovation, took some Tony Robbins leadership trainings, and has even been attending sessions across the country to learn more about pranic healing, all while plotting how to build her own business.

India’s Biggest IPO Comes to Market at the Wrong Time, KPMG Says

The initial public offering of Life Insurance Corporation of India came at a time when market volatility is high and the country’s largest insurer’s business will continue to outperform with its dominant market share, according to KPMG.