Finance

• Brazil’s Richest Banker Adds $2.7 Billion on Bolsonaro Rally
  Brazilian billionaire Andre Esteves’ fortune soared by a record amount as shares in his bank, Banco BTG Pactual SA, joined the market frenzy triggered by the right’s surprise showing in the country’s general elections.
• HSBC Executive Strikes Back in Court Fight Over Poaching Claims
  An HSBC Holdings Plc executive who’s spent years fighting allegations by First Citizens Bank & Trust Co. that he raided staff and stole trade secrets is now seeking to turn the tables, saying his accuser broke the law.
• SEB CEO Torgeby Abruptly Resigns From Sweden’s Biggest Bank
  Sweden’s biggest bank is suddenly without a chief executive, as Johan Torgeby decided to step down from SEB AB, citing personal and family-related reasons.
• Dimon Says Anthropic’s Mythos Pushed Cyber Risk Up 10-Fold
  Anthropic PBC’s Mythos artificial-intelligence model has dramatically increased global cybersecurity risks, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said.
• Cardinale’s RedBird Invests $4 Billion in Paramount-Warner Deal
  RedBird Capital Partners contributed $4 billion in new equity financing to fund Paramount Skydance Corp.’s acquisition of Warner Bros. Discovery Inc., according to a person familiar with the investment.
• UK Chancellor Says Bank Tax Decision Still Open Ahead of Budget
  UK Chancellor of the Exchequer John Healey told the heads of Britain’s big banks that he hasn’t yet decided whether to tax the sector in this month’s Budget, according to a person with knowledge of the matter.
• Wall Street Eyes Record Bonuses as Profit Heads Past $90 Billion
  A blockbuster year for New York’s trading and investment-banking firms is poised to deliver record earnings for the industry, with profit on pace to exceed $90 billion, and bonuses expected to reach an all-time high.
• Canada Exports to US Surged in August Ahead of New Tariffs
  Canadian exports to the US rose sharply in August as importers appeared to rush to get ahead of new tariffs imposed by the Trump administration toward the end of the month.
• Ray Dalio Warns China, Japan May Pull Back From Treasuries
  Billionaire Ray Dalio warned that Treasuries are vulnerable to a pullback of demand from China and Japan, two of the US’s largest foreign creditors, highlighting a potential pain point for a market that has endured wild swings this year.
• Warren, Hawley Press Insurers Over Claims Closed Without Payment
  US Senators Elizabeth Warren and Josh Hawley are questioning six insurers, including State Farm Mutual Automobile Insurance Co. and Allstate Corp., over concerns about a growing number of claims that are closed without payment to policyholders.
• Arini Raises $1.5 Billion Even as Its Main Fund Sees 13.5% Loss
  Hamza Lemssouguer’s Arini Capital Management opened its credit trading strategy to new cash after two years even as the firm’s main hedge fund suffered losses for five consecutive months amid widespread market dislocation.
• Ireland Cuts Energy Taxes in Budget Bid to Appease Voters
  Ireland will cut levies on fuels as part of a series of energy measures aimed at helping voters and quelling anger that escalated into protests earlier this year.
• Paramount Closes Warner Merger in Historic Hollywood Deal
  Paramount Skydance Corp. closed its $110 billion acquisition of Warner Bros. Discovery Inc. on Tuesday, completing one of the biggest media mergers of all time after engaging in a bruising battle for control with Netflix Inc. and fending off antitrust lawsuits.
• Trafigura and Partners Back $300 Million Zambia-Congo Power Link
  Trafigura Group and partners have agreed to build a $300 million high-voltage transmission line linking Zambia’s power grid to the Democratic Republic of Congo’s copperbelt.
• UBS Needs US Presence to Be Successful, Ermotti Tells CNBC
  UBS Group AG has to have a presence in the US to prosper, Chief Executive Officer Sergio Ermotti said, in a sign that he’s unwilling to consider cutbacks to meet the capital requirements that Switzerland is set to impose.
• Dimon Says a UK Windfall Tax on Domestic Banks Wouldn’t Be Fair
  JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said any UK plan that would impose a windfall tax solely on British lenders and exempt international lenders would be unfair.