Finance

• Google’s Backstops Underpin $35 Billion Chip Deal for Anthropic
  Google was one of Anthropic PBC’s earliest investors, repeatedly buying equity in the artificial intelligence firm. Now it’s increasingly backstopping the financing that underpins data centers for the startup, underscoring the complex business ties among the handful of largest tech companies pouring money into AI.
• Blackstone’s Gray Calls Firm’s Wealth Franchise ‘Underestimated’
  Blackstone Inc. President Jon Gray said people underestimate the firm’s $310 billion wealth franchise amid retail investors’ concerns over private credit and other alternative assets.
• JPMorgan-Led Group Plans Sale of Qualtrics Hung Debt at Year End
  A group of banks led by JPMorgan Chase & Co. is planning to offload about $5.3 billion in financing for software firm Qualtrics International Inc. later this year in a bid to shift the hung debt off their books.
• BofA Says Trading Revenue Is Trending Better Than 15% Projection
  Bank of America Corp.’s trading desk is seeing momentum gaining steam, with revenue trending higher than the 15% increase the bank forecast last month, according to co-President Jim DeMare.
• AI Selloff a ‘Wake-Up Call’ for Investors, Wells Fargo Says
  Friday’s technology-driven selloff was a “wake-up call” for investors, according to Wells Fargo & Co., which said it has highlighted the risks of piling into the artificial-intelligence trade.
• How One Hedge Fund Is Replacing Human Analysts With AI Bots
  Magnetar Capital, the $18 billion hedge fund firm, will shun human analysts for its newest offering and instead deploy hundreds of AI bots to research stocks.
• NYC Pensions Boss Says SpaceX’s Disregard for Shareholders Has ‘No Precedent’
  New York City Comptroller Mark Levine says the unprecedented control that Elon Musk will have over SpaceX represents a new level of disregard for regular shareholders’ rights.
• Woodford Defends Investment Advice as UK FCA Seeks Injunction
  The firm run by stockpicker Neil Woodford said information it’s providing to subscribers sits outside the “regulatory perimeter,” despite the UK’s market watchdog taking action against the firm for providing unauthorized investment advice.
• Intesa’s Bid for Monte Paschi Is Politically Crazy
  When Banca Monte dei Paschi di Siena SpA sealed its hostile takeover of Mediobanca SpA last year, the financial rationale was dubious but the politics were clear: Italy wanted a third major lender to compete with its top two. Now, one of those leading banks, Intesa Sanpaolo SpA, has launched a €30.6 billion ($35.3 billion) bid for the enlarged Monte Paschi and the picture is reversed: For investors, the strategy mostly adds up, but the politics make almost no sense at all.
• CoreWeave Founders Have Sold $2.3 Billion in Stock Since IPO
  CoreWeave Inc.’s stock price has more than doubled since the AI data center operator’s March 2025 initial public offering. Over the same period, the company’s executives have unloaded more than $2.3 billion worth of their own holdings.
• Judges Gives Preliminary OK to Visa, Mastercard Swipe-Fee Deal
  A federal judge gave preliminary approval to a $200 billion settlement in a fight between Visa Inc. and Mastercard Inc. and retailers in decades-long litigation over so-called swipe fees.
• Anthropic Releases Mythos-Like Model Without Cyber Capabilities
  Anthropic PBC is widely releasing a version of Mythos that will be blocked from carrying out cybersecurity tasks, months after warning that the powerful artificial intelligence model could spot and exploit vulnerabilities in critical software.
• India Weighs Additional Steps to Attract Foreign Capital Inflows
  India is considering additional measures to boost foreign capital inflows as it seeks to strengthen external finances and support investments, a government official said on Tuesday.
• Canada Trade Surplus Widens to Largest Since Before Tariffs
  Canada’s trade surplus widened in April as crude oil drove exports to a record high, while gold shipments declined sharply.
• Intesa Sanpaolo CEO Carlo Messina Finally Enters Italy Deal Fray Ready to Fight
  Ever since Italian finance descended into a deals frenzy almost two years ago, Carlo Messina remained on the sidelines. Intesa Sanpaolo SpA would not be part of it, its chief executive officer repeatedly said.
• Private Equity Founder Constantino Ran Firm in ‘Drunken Haze,’ Ex-COO Says
  On a Dominican Republic vacation five years ago, private equity boss Matthew Constantino almost died.
• Millennium Allocates $800 Million to Credit Hedge Fund Mycor
  Millennium Management is allocating $800 million to credit-focused Mycor Capital Management, the latest in its spree of parceling out cash to external hedge funds.
• US Existing-Home Sales Jump to Highest This Year, Top Forecasts
  Existing-home sales in the US accelerated to their fastest pace of the year in May, providing a dose of optimism after a tepid start of the spring selling season.
• Philippines’ PLDT Seeks Up to $400 Million From REIT Listing
  Top Philippine telecoms firm PLDT Inc. plans to raise between $300 million and $400 million from the listing of a real estate investment trust for its data center business amid a global wave of investor interest in technology and artificial intelligence assets.
• China’s Aluminum Exports Surge to Fill Global Shortfall From War
  Chinese aluminum exports surged in May, helping fill a global shortage caused by war in the Middle East. Crude oil imports continued to slump, dropping to an eight-year low, as the conflict chokes shipments from major producers.
• Daiwa Real Estate Unit Aims to Raise Rents to Fight Higher Rates
  Daiwa Securities Group Inc.’s real estate asset management business is increasing rents for office space and apartments to offset higher interest rates that have made it more expensive to fund property acquisitions.
• SpaceX IPO Draws Orders for Multiple Times the Shares Available
  SpaceX’s initial public offering has attracted demand from institutional investors for multiple times the available shares, according to people familiar with the matter, as the Elon Musk-led rocket, satellite and artificial intelligence firm’s debut gets closer.
• Apotex Targets Top End of Range in Biggest Canada IPO Since 2021
  Apotex Health Corp. is guiding investors to expect its Toronto initial public offering to price at the top of the marketing range later Tuesday, according to people familiar with the matter.
• Boots Owner in Talks on Possible $10 Billion Sale, FT Says
  The owner of Boots is talking to parties including the billionaire Weston family and Australian pharmacy group Sigma Healthcare Ltd. about a $10 billion sale of the UK health and beauty retail business, according to the Financial Times.
• Climate First Bank Completes Wellington-Led Raise as Deals Eyed
  Climate First Bancorp, a closely held holding company, completed a new round of equity financing to drive growth before pursuing potential acquisitions of small banks in central Florida, where it’s based, likely next year.
• Blue Owl Opens Abu Dhabi Hub in Sign of Gulf’s Continued Appeal
  Private credit lender Blue Owl Capital Inc. is opening an office in Abu Dhabi, joining Wall Street peers that continue to expand in the emirate despite tensions stemming from the Iran war.