SpaceX Leaves Some Banks Peeved at Junior Roles in IPO LineupSeveral junior banks marketing shares in SpaceX’s landmark listing are working for relatively small fees and being relegated to roles that don’t come with any credit, according to people familiar with the matter.
SpaceX IPO Is Said to Be More Than Four Times OversubscribedSpaceX’s initial public offering has attracted demand for more than four times the available shares, according to people familiar with the matter, ahead of the Elon Musk-led rocket, satellite and artificial intelligence firm stopping taking orders.
Canadian Bonds Rally After BOC Holds Rates, Cites Weak EconomyCanadian government bonds rallied across the curve after the Bank of Canada held its policy interest rate steady and Governor Tiff Macklem described the economy as “weak.”
Subprime Auto Dealer America’s Car-Mart Seeks Rescue FundsAmerica’s Car-Mart Inc., a used car seller and subprime lender, is working on an eleventh hour capital raise to stave off a potential bankruptcy filing after a cash crunch put the company on the verge of default, according to people familiar with the matter.
Chevron Among Drillers to Feed Key Argentina Shale NGL VentureChevron Corp. and two other major Argentine shale producers will sign contracts this week to supply a natural gas liquids project, a move that all but assures the $3 billion plan goes ahead, according to people familiar with the matter.
Major US Banks Face Federal Probe Over Debanking AllegationsFederal prosecutors are looking into whether some of Wall Street’s biggest lenders illegally dropped customers for political reasons, according to a person familiar with the probe.
SpaceX IPO Whips Musk Fans Into Frenzy: ‘The More, the Better’Anna Watts, a 33-year-old public relations manager in New York, has stashed away $6,500 to buy SpaceX stock after it hits the market Friday. If she had her way, she’d buy even more. She tried to borrow $5,000 from her best friend and applied for a bank loan, too, but both turned her away.
UK’s Reeves to Lower Tax Burden for Wealthy US ExpatsChancellor of the Exchequer Rachel Reeves said she will ease the tax burden faced by rich US investors wanting to relocate to the UK.
Amazon’s Record Bond Deal Shakes Up Canada’s Credit MarketAmazon.com Inc.’s record loonie bond sale has the Canadian fixed income market working hard to accommodate the deluge of debt, pushing risk spreads higher and spurring other borrowers to delay note sales of their own.
Bitcoin Selloff Leaves Half of All Supply Trading at a LossBitcoin’s latest retreat has been so severe, it has pushed more than half its circulating supply into loss-making territory.
Bitcoin’s Worst Week Since FTX Crash Signals More Pain AheadBitcoin’s slide below $60,000 last Friday capped its worst week since the collapse of Sam Bankman-Fried’s FTX exchange in 2022.
Sitting Out the SpaceX IPO? Why That’s Hard to DoWall Street has been fixated on the stock market debut of Elon Musk’s SpaceX. The rocket-and-AI company’s initial public offering on June 12 is set to be the largest in history.