- BlackRock explored a Credit Suisse offer as an opportunity to expand its wealth management business.
- BlackRock ultimately decided to halt its work on a bid, but its involvement shows that Larry Fink still has another blockbuster deal up his sleeve.
- Credit Suisse bankers attended a camping retreat with Bear Grylls as part of their investor conference, while the bank faces the reality of a forced takeover by UBS.
- Wirecard's former boss, Markus Braun, brought start-up lingo and PowerPoint presentations to his trial in Munich for one of Europe's biggest accounting frauds.
- Baillie Gifford's chair, Fiona McBain, is stepping down after a public disagreement over corporate governance.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec